Trump Accepting Bitcoin & Crypto Donations | Britcoiners by CoinCorner #129

Transcript

we need to read what his are saying that's the little rat his hard work and sacrifice for other people something like that at the [Music] beginning hi everybody welcome back bcoin is episode 129 also Bitcoin Pizza day welome back to that event just looking at me um agenda this week uh Black Rock and coinbase uh David Bailey talking about the B Biden Administration uh Venezuela Banning crypto mining Jamie Diamond Jamie Diamond uh potentially retiring a CEO of JP Morgan uh Donald Trump says his campaign will accept crypto and coinbase CEO says the sec's has changed literally overnight their tone uh some de daes and some price updates nice one Molly thanks nice one okay nice one nice one nice one price updates where we at uh last episode we were 627 that's how we I heard last episode was low energy always low energy uh no I think last episode we were okay it was the before that yeah energy apparently welcome back bringing the low energy expect more energy now that I'm back the opposite it a weird sat there by the way oh you s my spot yeah good spot just tun in we realized arguing with each other's very difficult you turn him my head that way and it wasn't the same m in in our new setup that's going to be we need to make sure what is it just going to be set like this let's talk about that after the Pod Secrets but we're preparing a new clro oh 70k just literally hit $70,000 on the that's cool mhm yeah hovering around that high since last episode was 714 so yeah just kind of sitting around that range aren't we at the moment why do you think it's pumped then where was it last week 62 start didn't start pumping last Friday night I think I think we had a bit of mid we got bit bit of a midweek when and then yeah towards Thursday Friday because we started to get more positive inflows for ETFs last week was the first time it started to change back again um and gray scale positive inflows which is quite surprising so I don't think it's a big influence UK CPI data was out today what are we talking about it then I wrote down for just ignoring some big news CPI dat let's start with that I mean sure let's start with that then UK's CPI is now at 2.6 yeah so what's it come down from uh 3 two three something it was a significant one but so what does that mean they just made numbers up and went with it no I I made a bet with um the accounts team yesterday I bet them a billion pounds it had come down did they take the bet no I was going to say something billion because why you just betting something sens the way they calculate it like so it's just like a 12- month rolling so you look at the last 12 months calc look at the movements and then say it's we're currently at at 3 point whatever it was moving average Yeah so basically last April was huge like the rate inflation is like a 1.3 like the biggest it's been for for a single month in absolute ages yeah that leaves the chart and you get your new April which is about a 0.6 0.5 and then that's what you're left with C the 2. help put clarification it doesn't mean to say that we're better now it means that more of a ref out that b mon from a year ago from months has progressed time has what's the most ging thing is it so that's why I made a billion pound bet and if everyone that knows me my Max bet is 50p normally but you could just you just knew and what's the most annoying thing about all this is sunak the British prime minister will say that he done it has conquered inflation that he has done it and he did that last time they out and he did get a bit of push back cuz anyone in the no knows the the British government has literally zero Todo and should have zero to do with it but they literally have zero to do with bringing inflation down and yet they're going yes take that Victory it wasn't a bit of push back it was every single common reply to him on the social side of things was abusing him I don't think there was a single pathetic move just to go yep we did it I beaten inflation shut up was that three months ago four months ago yeah he did it I'm not sure he won't come out this time because there's too much push back from last time but yep time has moved forward hours ago tok's a major moment for our work and sacrifice they don't see push back they just continue on we need to read what his saying the little rat his hard work and sacrifice for other people something like that at the beginning have a listen yeah when I came into this job I made it a priority to half inflation we delivered on that and now as I said it's back to normal that's not just because of our plan that is working of everyone's Collective hard work and that't back to normal no like people people also like think like that means the cost of living is you know back to it's not it's the rate of increase so it's like this divver between the Haves and Have Nots is still now massive so you have to get that back to some semblance of normality where an actual person with a full-time job can avoid afford a house you're so far apart at the moment they two separate things to what I guess what he's talking about isn't it but I know and agree with you there but um but to claim is some normal Victory cuz in my head they're going to be saying 2% is normal which it still isn't back at 2% so he's just bling the LI from what they classify as normal I would send say normal you want down at 0% CU if it back at normal why your interest rate is still so high and that would be the question back to him and see his respons the inflation everyone now is predicting the interest rates down in America so that makes all the the markets a bit more buoyant that'll take time still you say no we've got back down to normal but in the meantime for the next 24 months we're still going to have high if they control the rhetoric around really say that what people are only just starting to feel the benefits what benefits that is a wild yeah wild statement always case isn't it when when it goes up it's Global factors when it goes down it's solely that responsibility they've managed to do nothing to do with you suddenly it's it's his he's claiming the victory I don't get is laughable yeah I honestly don't get why politicians and why parties like this do that why don't they just be honest and say it's gone up because of us it's come down because of us or it's gone up not because of us and it's come down not because of us either it's just moving because that would be showing the honesty and publicly admitting that and pushing that to the Public Public is seeing through these things these days do you think they are this is Twitter this is as cynical on if you go to any social side there's there abuse on every platform I think for when they put this stuff out so but you're right I don't know and I don't know how many people would be the majority of the vote in public I think are just drinking his Kool-Aid right just I don't I've never heard anyone say they think rich is good no no like he was never voted in so I don't know but unless you truly are informed about inflation and how it works and stuff you kind of just believe the mainstream right so that's mean do you believe him in what he's saying do you believe mainstream media is maybe a slightly different thing um or do people just yeah they don't believe him but they just carry him with the life anyway and they don't really care they've got to vote for someone or they don't have to but they'll vote for someone at some point and just vote for it um but if somebody come forward and just was so brutally honest about it and said it's come down we've done lots of things they say what's happened and actually explain things properly and be honest would that give them more credibility and a better reputation and then would they get more votes if they're just actually honest with this stuff I don't know I I think so yeah there's no such thing as an honest politician is there just can't work the way up to these positions being honest which is he's controlling the agenda enough people might believe that he has had an effect on it but just they're just not in this room they're not on socials either I've never honestly when you look through any comment there's not a single positive comment well done thing that most people it's like always the smaller minority that are commenting and have problems with it most people might watch the video move on it's always the minority that loudest maybe a lot of people just don't care they're just happy that it's brought down that's I'm saying I don't think they won't believe him but they also don't care enough to give an opinion or even form an opinion they just move on uh yeah anyway but I think Bloomberg had a good chart cuz you could just we kind of yeah America like if you look at the CPI charts like America came down first then Europe came down then we're slightly behind and we're all gone down to similar rates but America have seen a slight bounce up because they did a lot of you know the their national debt um and then Europe see all last so I just think we' slightly lagging behind I think you'll probably see a similar pattern and bounce back up in a bit funnily enough you saw do you see the banks I think I shared some of that the other day the banks uh HSBC barley a couple of others had actually reduced their morgage rates in I I assume in anticipation of this as well after making record profits off the back of everyone's perceive notion that they have to increase yeah their mortgage rates in line with him which they do not so yeah well done the banks have filled their coffers but they're anticipating inflation movements ahead of CPI coming out as well which I come they is no it was B it was like .1% or something or it one one of them wasn't even that it was Tiny anyway okay and it was also only if you put down it was something ridiculous if you put down a 40% deposit you get a 0.1% decreased interest rate it was like if you put down 40% depit yeah you probably don't care about the 0.1% coming down if you put in 40% deposit there um I can't imagine many people put 40% deposit down property Cool finish this we just move on just move on Mikey okay um Black Rock uh Black Rock can take as much Bitcoin as they want from coin base and the transactions are recorded off offchain so this was a tweet by who Tyler D yeah so this there's more come out after this since but yeah basically the the point of this is people realizing that to Black Rock and I assume all other ETFs I haven't read the detail of of what we're talking about but they can theoretically short Bitcoin um in I think the the big Mis the the Miss don't say misconception but the bit that I think people have missed that we all missed I think in some respects as well that they Black Rock when they're people buy into their ETF then they're buying the Bitcoin from coinbase in theory they have 2 days to settle was the settlement time everyone expected so 48 hours to settle what they've bought or sold um but actually it's 2 to 30 days so they have a 30-day window before they have to actually buy the Bitcoin that's been purchas through the ETF um so coinbase have give them a I don't know if it's like a execution time for that window effectively um which means in theory I need to get my head around the mechanics of it still but they can theoretically sure they don't buy the Bitcoin even though their etf's being bought into and they can then buy the Bitcoin at any point if the price goes down they can then buy at a cheaper rate if the price goes up obviously they're at risk but then they would then try to um um the coinbase not do a have they not published the the proof of wallet like cuz not for Black Rock now oh so somebody's tried I think somebody did try and find them proof of wallet proof of Reserve bit yeah uh bitwise and Fidelity I think are the only two that I've really give it oh um grayscale might be something might have something out there gray scale I can't remember um but yeah it's really on the bitcoiner crowd the bitwise and Fidelity like Fidelity custody thes themselves bitwise are done by bitcoiners right um they're doing it don't think the rest of them maybe grayscale might have something so we'll never see the Black Rock one cuz it won't be oneon-one because they're shorten it fire a mechanism that um coinbase have allowed use nice ETFs to be to do so that's my thing it's not necessarily I don't know if it's coinbase is why would coinbase not give them that option I they get do you have a moral issue with people shorting things in the market I I like the Wall Street bets stuff is an example of this is an the GameStop of about those huge shorts for me try and kill a company yeah there's aate whether you need shorts to put equilibrium into the market um I I don't think bitco need I wouldn't want it in it but it works both ways out as well though because it can be seen as NE like say GameStop they were trying to kill it yeah whether incentivize for something to fail is morally not great for something like GameStop for the economy we got employees yeah that lose the jobs but yeah but is it cuz like if it fail anyway because but who's to say it would fail anyway yeah well this is the thing if you're if you've got particular involvement with a company and have a short position it's becomes extremely morally inced because you're incentivized for it to fail so if you're involved but you shouldn't be involved you got short it just should just be a bet but the in a free market it stuff fails anyway because of the competition so you should you know it's just a bet on whether it would fail but if you're shorting it you're basically putting a flag up say we believe this company's going to fail everyone else just kind of thinks and follows the message and then people will potentially oh um we this I had this one someone saying about it and said about one of the companies and they've just heard something that one of these companies in the UK is struggling I and he's not going to be around much longer I went and check the financials out as I do cuz I'm boring uh but I went and check the financials out and they're doing incredibly well and it's like but the message has been passed on by word of mouth and sort of hearsay and then starting to use a different company because they don't think that's going to be a long around much longer so they're going and find an alternative already and it's like what and it's like it was perfectly it's their balance sheets very healthy and their revenues were like I think it was like 2% down in comparison to the co year which was the massive Spike because everyone was at home shopping online I mean in the UK you can check the FSA make you there got a list of shorts so you can see what people are actually shorting so to add some trans like who's shorting and what they're shorting and to some some degree the size of their positions so it makes to make it more transparent so you could say if someone gave you that sort of information you might be able to check check if they're I don't know if a lot people nobody does go and check that nobody knows to go and check that or or knows how to um but the short if there's like um sort of all-time high shorts on a particular company then that makes mainstream news and then people read the mainstream news and think that company's about to fail or go under and stuff and it does influence decisions I think around it's pretty naive to think that that wouldn't come in with the ETF since it gives them that mechanism to do it um I think it was almost inevitable well Bitcoin is more like a currency in that respect isn't it for because you not it's not there's no company behind it that's making revenues and doing things in that sense like that would be on a stock so it's not comparable in my head to a stock in that sense it's more comparable to an fx currency um although the currency still has has a country behind it and a government behind it that's kind of doing that so it's maybe gold is your closest it always goes back to Gold yeah so and people will short gold so yeah it's free market but actually is that then been massively controlled over the years in terms of Gold's circulation and Supply yes so I don't know it's maybe something we've never seen before in my head and I don't know if it's right or wrong to allow the shorting it's going to happen shorting is going to happen for regardless yeah why is this news only come out now it just been in read the doc someone's actually read the document I'm assuming it' be in the filings to be fair I did read a lot of these docs at one point as well but I I couldn't find the 2day thing other people dug that out I think and found it and shared on socials but I didn't actually see was it involved with cuz a lot of people had to report their Holdings in the ETFs in the quarterly recently um so was it not the first bch of quarterly pop up with them cuz you there's a lot of news about who's holding what and coin bases it could be and then if they put something in Theirs to say that's this is the contracts they've got with them maybe might been that because there is a lot of news about which companies have got involved with it which is why we knew about Wyoming or whatever it was last last week the frustrating part I guess one of the ways to look at we don't know asumo did the ETFs have the same sort of deal same sort of structure um when we're seeing bitcoin price go up at the minute is that people is that these ETFs when we're seeing the inflows and the outflows just because they've had a massive inflow day doesn't mean say the price is necessarily going to go up because they might not buy that Bitcoin back for another 20 days or 25 days or however many so actually weirdly it looks like it's been correlated we've seen price movements go up as the inflows have been big but I don't know is does correlation correlation but the yeah what is that happening behind the scenes there I guess the only people that are going to know that are the ETF guys and coinbase probably yeah and Kraken cuz Kraken are being used as well by these guys okie dokie okay um next topic David Bailey says uh we're going to blow through $100 million in funding commitments Biden Administration is really [ __ ] up who's David Bailey CEO of Bitcoin magazine or the the Bitcoin magazine group so this was more just tied into um Trump now accepting Bitcoin donations although it's not Bitcoin which was very frustrating except crypto have you actually seen his website one it's a world class website too I couldn't I couldn't donate you can't not American uh the options not even there I went on the website this morning it's coinbase Commerce it's also it's definitely there definitely on have you checked I've not checked myself but I've seen loads of other people saying cuz they been slagging off because it's coinbase Commerce and you can't actually give Bitcoin so you can you have to have Co you have to use a coinbase account to do it oh my God cool 2024 you can donate $20 24 I love the 47 47th president you should see the rhetoric on it I was managed to get through to the next page just put $20 and if you press buttons American flags pop look at this I scroll to I scroll to the bottom and couldn't see crypto anywhere other people have I will never stop just scroll to just see if you can find it I just saw this it's quite intense but it's just such a badly designed that's awful oh you'd have to put your information in and then click I could only see card number as an option not you don't usually see that until you go through to the ACT why do you see card number first you can't put your details that's that's why I just thought it's not on there loads of people have put screenshots of it and cuz basically they've gone through this is like to just spammy web this is click on a button and you'll see the American flags pop up this like early 2000s Mar even that bit was just like all the lies about Trump yeah up cck on it if you think Donald definitely yeah why don't we have that I mean we should let's bring it in let's have little Bitcoins every time someone presses one of our call to action buttons on the site British flag yeah um so you can theoretically of Danny they in the same p no thank you should we get back to the agenda so let's forget Trump so yes he's taking donations with crypto at the minute umun is using coinbase Commerce which means you can't uh you have to use a coinbase wallet or one of the other ones that you connect to coinbase so like a metamask wallet that you connect and then they can basically validate it's coming from you or whatever you can't send a nonchain Bitcoin transaction you can theoretically send an onchain salana transaction I think so that coinbase Just Roy [ __ ] up with Bitcoin again it's again when we say they're the enemy of Bitcoin they're [ __ ] Bitcoin over massively for all this sort of stuff which been they did this a while ago it's not new but obviously it's cropped up again now because of this happening um the reason so back to the actual point of the agenda the reason uh so Bitcoin now is becoming massively political we've already started to see that but this is I guess a top level political uh us candidates Trump now accepting it for his donations cuz hoping that he'll get all of the crypto people in because of the sec's stance on crypto recently MH however the Biden Administration still waiting on confirmation of this to be true but the Biden Administration now have apparently stepped in for the SEC and said approve the ethereum ETF because they want to look like they're also Pro crypto to make sure they get the crypto so I think they're going to start accepting crypto donations as well now for the Biden Administration um which will then it's you know that's a pure political play then that point but that means the SEC has to completely change its stance so whether people will see through that that is also absolutely [ __ ] up because if they accept if they approve the ethereum ETF because of this political play nothing to do with it being a secure because minut it they're not approving it because they think it's a security because Gary gzel thinks it's security that if it is a security and it taks the boxes then now they're just saying the White House have called us don't worry about it guys it's no longer security we're going to light through which is completely that whatsoever uh there was coin there's there's a couple of rumors flying around I've not seen full confirmation this was like late last night the uh coinbase Co dude he said like that they've heard that as well from basically White House who stepped in and said approve the the ethereum ETF rumors been going around after a couple of days in terms of the approval and everyone's like why have they just randomly changed their tune on this and it's meant to have come from Biden Administration which is now going we're pro crypto now even though we've yeah election season isn't it so they're just trying they're going to be Pro everything so this is just try get votes it's just all [ __ ] it's just all hot air it's like they're all just saying oh yeah we're pro everything now just to get votes and they they are going to [ __ ] around with it because it' be interesting if they approve this Biden gets voted back in again and then do they go back to being negative again as soon as he's back in power again for another four years like that'll be interesting to see but do they have the power to Force the SEC to approve it apparently so cuz they're about to do that we find put pressure on them right but yeah yeah I think there's a big difference between forcing someone to approve it and just saying have another look cuz you politically getes the same message you don't have to go all the way through with it you can just say gets approved have another look at this well no if it gets approved what would your opinion be on that uh I don't think it matters I think it's your opinion doesn't matter you're right but what would you think cheap sh wow wow W but I just it's enough for them to they like to tell the SEC to soften their approach on some of these things to get to it is an optic but not to get votes it's not binary whether it goes through or not it's going to get you elected or not no no no it's nothing to do with that I'm saying it but the the point is like you've saying that ethereum can't have an ETF because it's security which would make that ETF illegal the White House come along and say approve the ETF they it have they said approved the ETF or they told the SEC to have another look security that was my question to you then is the if ethereum's a security they can't have an ETF with it yeah so but you need the SEC to come out and say that clear so the big problem now is if the SEC come out and say ethereum is not a security and it's a commodity the same as what the Tren treat Bitcoin has then you're going to then pull in salana Tron everything is going to end up getting chucked into this bucket of it's now Commodities and none of them are securities that that screws over every single court case that the SEC are currently going through with the well this triu cracken think Kraken settled in the end uh but even the binance ones the coinbase ones the Gemini ones all of them the all the earned products all them that they've tried to claimers like Securities because of these tokens being Securities that's going to throw but it was only last week Biden told the banks that they couldn't uh custody didn't Administration someone tried no no someone tried to push it through it got rejected yeah but he said if it the Biden Administration said if it gets rejected we'll step in and say no you're not allowed to do that they haven't stepped in yet so they're waiting to see that as well yeah it did get rejected by the Senate whatever whoever it is that votes on whether they so that that means that the banks could cost of the Bitcoin it's not gone through yet but yeah the it was no this was just there's nothing to stop them themselves there's nothing to stop them in theory now but they're saying yeah yeah they do once the bid administr well a bit of a mix message this what this is the big Banks not being allowed to custody versus being pro crypto I think that's a positive thing not allowing Banks to custody we went through last we did um so um yeah I don't know it's it could be a mixed message or it could be if if you're thinking the way I'm thinking it's it's a pro crypto both sides yeah I just don't think it's I I don't know what's been said by the B Biden Administration to the SEC but I think no one I think it'll be give us more clarity on terms of what you do because performance for the last 12 months has been atrocious hasn't it I think the best way we're never going to know is the answer all we're going to know is does ethereum ETF get approved it sounds like a Twitter rumor Bill about a an ethereum ETF that's pumped the price of two they are two separate things in some respects so the ethereum ETF getting approved was one sort of thing then now it's saying change the SD the White House is telling the secd to change its stance on crypto that part of that is I guess the ETF approval but it would it mean then the rest of them are all going to start getting dropped which means all them court cases they're currently going through suing everyone did they all get dropped because of a political play because he wants to beat Trump in an election or it could just be Biden making a gesture to to be more approachable to these businesses when in fact he can't really get involved with the SC and they can crack on as as normal so he can I think it's Optics no but if they if they reject the the ET ETF then then the SEC carry on as they are that's a massive hit to Biden's political election campaign he's not going to get to then at that point is he from all the crypto fans is there many out there is that really going to swing the election the ethereum ETF no not the ethereum ETF but crypto in general the whole cryto you think the crypto Market can decide who's the next president maybe I've got some sway I think yeah no but there's I think insant there very polarized opinion in the crypto Market me and you are both bitcoiners we don't agree on anything how many how many uh sorry how many people voted for last election in the US I know a lot more people do vote in the US but it's not like 100% of of people um so imagine if you need get 5 million people changing their vote to Biden it's going to be significant portion but I mean the in terms of about 66% very high in it comparison to the UK I think it's only about 12% or something in the UK is it no more than that for the general election 12% it's really low Jesus no it is really low yeah 2018 it wasn't wouldn't have been election 2018 well you see more the more polarizing the candidates are the bigger the turnout right yeah it's just an agender issue amongst many agender issues like you know civil rights stuff like the the health care type stuff Public Health industry is going AI hundreds of issues I just don't I think we really think that the that sort of SEC approach to the ethereum ETF is is important to us but to most the electric it's nowhere near their radar I think it's just a Optics gesture to look we're open to new types of business I'm not just an old fumbly man I've got I've got future is this you talking about yourself both you know what I mean I think it's pure optic I I don't disagree the bit I disagree with I think you're ignoring the fact of it's a pure political play and it's not they've just they've been negative to crypto for the last four years full stop a in a very aggressive way and then now they're pretending oh we're pro if people are not going to see through that that's incredibly naive one slightly Pro approach to the SEC it doesn't it's not a huge no we don't know that no no you're what I'm you're not saying that you can't say that at the minute CU we don't know that the minute okay so you can't say just say the minute that's the rumor if I'm saying if if in no go right we can we can rewind that if they approve the ethereum ETF cuz it' be interesting if they approve this if it gets approved if it gets approved what would your opinion be on that if the SEC come out and say ethereum is not a security but if they if they reject the the ethereum ETF that's the rumor if I'm saying if if if the ethereum ETF gets approved yeah then all the other court cases all the other things on all the other shitcoins yeah do do they all start to get thrown out because now you set a precedent of something that's fine so that is like such a big U-turn for the SEC to do that I just don't know if they'll be able to so if they do it's a massive U-turn and if they don't then the Biden push there for crypto is probably still nothing yeah and it was just a small gesture well it's not even a gesture it wouldn't even be seen as a Gest at that point it wouldn't be seen as anything that point I think that like Biden could go to the SEC and say just clear it up would you guys just make it more clear what but it political they'd public they'd publicly come out and do it right they' want to for the Optics it wouldn't be yeah so you expect like an announce maybe maybe they will started last night couple of days the etherum ETF I mean sun was pretty quick to jump on that little message you'd expect B was Optics to be jumping on this be surprised Nimble still Nim right we done with that one well I don't even know what that was that was that was D cry Bitcoin baile donations into one really yeah ball of chaos okay uh Venezuela bans crypto mining to protect the power grid I thought that I'm surprised you didn't take this for a bit of sweeping um not Venezuela have got one of the the worst Power grids available or in sense I think it's bullish to call it a power grid and it wasn't that long ago from blackout they got I think they've got like 5,000 megawatt for the whole country really they've got nothing power-wise so to say they're turning off M they're turning off they it wasn't that long ago they turned off the street lights and the the traffic lights wow because they didn't have enough power so to the throw has no one tweeted This and like dispel this myth then of what this is read the article yeah I read it this morning okay this is the problem headline doesn't say that and I've not read the article on that I'm just thinking country troubles can't power industry that requires power would be the yeah it's it's not anti we need the lights on at night let's turn off we need these we need this intensive care like just prioritizing yeah you know put the Tweet out da explain it go on tell everyone I've not seen anybody explain that and on social side yeah well I've not read it myself I've not cared enough to read it from but I mean it's interesting they've banned it CU it means if they ever do come into a situation where they have more energy they're going to have to unban it yeah yeah they could obviously be using that as an excuse for their agenda to ban it you don't know yeah I mean it's their currency is not doing too hot is it if they had an IMF bailout yeah maybe it's it can't be too coincidental that they've got such a bad power grid no it's really non news isn't it I think yeah especially in considering I think they still do have blackouts it's like yeah of course they need to um yeah prioritize Necessities like like Medical care and stuff yeah right move on um Jamie Diamond said is hinting that he's preparing to retire CEO of JP Morgan by the way this was barely a hint as well was it they were talking about succession planning for the next five years and oh it might not be it might not be 5 years right Bic he's always said it's Pro succession is probably five years away and he said it isn't 5 years anymore I mean he is Age Now isn't he and yeah but it's it's not like he's leaving the next few weeks and the fact that they they think so long ahead in terms of four or five years to of succession planning so he has said the timetable isn't 5 years anymore so he's basically saying he's going to retire within the next 5 years 5 years Max would be maximum which do sound whereas before I used to say you know it's not five years anymore apparently it was saying five years for more than five years yeah so yeah again times moved on and Jamie Diamond's gone from 5 years slightly less than 5 years and there's a news article about it nice and the world is a depressing place because of it wow where is the Great scale CEO resigned as well you see that yeah but it's took over by x black rock dude and there's now again rumors rumor mill I think that a great SC is going to be acquired okay Vanguard CEO retired as well didn't they but they're not planning on going they're still still not saying they're going to do did he not move to somewhere else the old just have a look I thought it was like at one point people were cheering thinking he'd been sacked cuz he wouldn't go Bitcoin something but actually he's gone and took a job elsewhere which is a slightly bigger one there was always the other way around someone's coming to Vanguard or something it was it was a bit of a nothing really they'll have a Bitcoin ETF by The End by the end of the year by the end of the year yeah is that your call is it no maybe that's a bit bullish I think they they're slowly changed what's coming out of them terms of now that they got rid of that guy I think it be me the new guys already said that they're not they're not plan on changing their stance yeah yeah yeah any give them time yeah um next that was all the agenda we're on to the d da now oh we did the CPI already we did CPI nice one um we're not even talking about piz today your favorite time of the year well I want to talk about it but you keep [ __ ] on it every time no I'm not [ __ ] on it hey jeez celebrations and you said celebration yeah so I don't expect to see you Eatza no no that's different that's not different there's pizza for B coin Pizza day if you if you hate it that much you're not I don't hate it I think if we watched the podb from last week you said that I said it's a it's become a bit of a marketing thing you guys are cleaning on to you can hm it has it is anyway let's go that's not all on Pizza me and Mikey wearing Pizza Day shirts I like off camera Pizza day because of the history and it's the point of the history it's like but granted I tell the fun fact of what oh let's ask you if you know the fun facts what was the first e-commerce this won't be fun what was the first e-commerce payment online on a website is it not is it not the pizza day one that we were all celebrating oh that wasn't even online was it I'm on about just in G no I'm on about in general e-commerce forget Bitcoin cuz we don't celebrate no one celebrates that oh this is not the first Bitcoin e-commerce but the first ever e-commerce one first ever e-commerce CD yeah no everyone it was a computer game wasn't it no Mike's right everyone thinks it's Pizza Hut so Pizza H weirdly so it would have been another Pizza day thing so Pizza is often referred to as the first one but it was actually a CD someone just sold it on some some random that nobody really knew about but that actually was the first one the first ecommer the first public one that everyone kind of knew about was pizza what was the what was the music CD surely that should be celebrated so this yeah you you are right sting T someone his tals I don't even know that sting song when was that I think it was like early 90s why aren't you celebrating that Molly I wasn't born matter years old I think the just do the P maybe some industry are celebrating it I think the articles about it and stuff 95 I mean we can we can all sit around and listen to Sting If you wanto you get Danny's point so you got that in on the history of the web website the first ever thing sold online was pizza which was actually that's technically incorrect but again it's Pizza why don't we have pizza day for that um well that's that's just a general internet though this is this is very unique to our industry but the internet was an industry back then why is the internet I'm not saying either way I'm just I'm just showing that there's that there was no pizza for you either for P for you we could have another Pizza Stop M what date was that I'm tring find an actual date it just said 1994 so far what a a secondary Pizza day to celebrate the second item sold but everyone else thinks it's the first so you know kind of think so there could have been another Bitcoin one that we're not aware I get your point but it's history it's good history and it's good to have that recorded I do like the history of the internet and things that well it's it's history it's a bit of fun guys you know yeah you can't hate on fun focus on the now and the next all well you do that we'll just focus on the celebrations we'll focus on the next David in two hours pizza will be arriving my next SCE of pizza next two hours Molly trying to stop us on that don't think I could um well that's saying it wasn't even theone saying it was weird was it 1972 yeah all right I'll stop I'll stop hitting on Pizza day you're right it's a nice little thing and yeah someone says yeah some guy uh sold someone those things he did yeah that was the first one right cool the first legal online transaction was like an internet not an internet I've never even heard of opet I have to look into that that's like in the 70s you going back a long time original stuff right well yeah Bitcoin Pizza day happy Bitcoin to everybody who celebrates what are we doing to celebrate just getting pizza in the office we're getting pizza in the office we are giving some pizza out to some of our local partners and clients no nice got big pizza run later plus lots of UK meetups plus lots of Y we've provided some some yeah okay how dare we spend that money oh no wait until you see the marketing bill for this month on a day you don't even believe it piz that's what annoys me more now um yeah there's there's an update actually to a previous day day when uh people asked about clothing we've got stuff in progress haven't we exciting stuff we're working on some things try that room next was actually you can hear I might I might share a little video in the in the telegram chat it's like a behind the scenes this is what we're working on it's very cool you love it's an intriguing little twist isn't it we don't do anything normal that's why we've never done the merchandise stuff we' never really liked the merchandise Concepts which is what we spoke about but now but we' come up with a concept with a bit of a Twist haven't we so it's mer merise but not merchandise merch but not merch I mean you should send a picture and see if people can figure out what it's doing I suppose it's quite unusual good bit kit looks cool anyway well we'll leave that one there always an education angle as well yeah so stay tuned next couple of months we'll hopefully have something why are you putting your face of that oh hates education too yeah kind of sick of that as well people learning about Bitcoin I mean how else are they going to learn about you need to learn about things in fun ways yeah oh like Bitcoin Pizza day no like socks B um cool and then another Dear Dave was just off the back of uh there was a Bloomberg article about Bitcoin developers a toting program programmability as the Catalyst for the next rally did you see that in your blueberg subscription you didn't see that on Bloomberg no oh I don't believe it will be the Catalyst the question was will programmability be a big factor in Mass adoption or will it just cause a rally where we at with that neither neither I agree well it's I think again uh coincidental um correlation would doesn't doesn't always equal causation on that I think so even though there'll be a rally in a time period just because the rally will cause the programmability on it would be coincidental not causation yeah um so I think which then people will tie in as causation which will be frust I think is I think the rally will will be the causation for the programmability of people starting doing ordinals and stuff again because the price is highing so we've seen ordinals come runes come pretty much dead from what we can see already already did you buy I couldn't be bothered I didn't want I didn't want it to spend anything on them I thought it' be funny to get everyone in here a rune but it's a was but then I was just like God that's just a waste what was the cheapest one it was like $100 this yeah so you'd be spending $500 might have a little now they might have gone down I might get a little bar Molly some sort of pizza day Rune I'd love that yeah a I see destroy say you'd love Rune no I'd love if you're going to get one it's got to be a pizza day one how would we look after our Rune like what' you do with a rune just put it in any old wallet or it's just a it's just like your your Bitcoin if you get I'm going to burn it how do you then keep it separate from burn it yeah um I think I don't know if correct I think there's a couple of wallets around you put in that wallet rather than in your Bitcoin spending wallet yeah um but yeah there's I don't believe for a minute now I think the programmability on bitcoin Bitcoin is meant to be focused on money and we're trying to focus on money you don't build in terms of programmability ethereum SL Etc they've got programmability on on their chain um when we I'm using the vague programability just cuz they said that in the article um but the progr ability side of that is allowing people to make jpeg ordinal sort of style where it's like you know um art should we call it so art and what everyone keeps saying is smart contracts but what actual you can use the Buzz word smart contracts all you want but what's the actual use case of a smart contract in the real world we're now 10 years are we 10 years into ethereum I think now coming 10 years into ethereum and all these other ones that have had programmability and we still don't actually have a real world use case that has found like product Market fit for um a smart contract doing something um so bringing that onto Bitcoin is nothing but art and R&D basically so you're going to basically spam the the infrastructure of of the financial system using for the purpose of some art and some R&D which I think is a stupid concept to do and stupid idea to do um why why trying to build on chain on that if you want to go and build Layer Two that's based around it and do it that way then there's you can crack on and do that in my head I'm not really too bothered as long as doesn't bother the base chain um yeah to me the programmability on bitcoin is more like smart contracts there is smart contracts on bitcoin it's more programmability of how to lock up money in ways and mentality yeah yeah and just like figureing out what you can do like you know multi that's smart contract lightning is a smart contract what you can do with the money aspect of Bitcoin rather than the art art aspect is more interesting to me but if you had the programmability of more of a tring complete language in theory which means you can theoretically do anything you want on that piece of software which the software being Bitcoin software and bitcoin's blockchain then people can do anything and everything similar to what you're seeing with ethereum and Sal and all them ones where you can then do create tokens and it's it's purely for art and speculation of shitcoins memec coins tokens it's not no one's found a product Market fit outside of tokens that just say they're going to do Ai and [ __ ] Eco and everything else they say in between um and uh art and Art's difficult one to argue against because art is very opinion and sub subjective yeah so I can say that's just jpeg it's not art but somebody else can come along and say it is Art so it's whatever um but that they're the two things that you've got that of programmability have brought to blockchains which are not of any [ __ ] use to bitcoin a lot in this pod I um and I'm worried about the YouTube algorithm unless Mikey bleeps out I think you're just creating him a little bit more work though you need to count down some we'll put it not safe for kids yeah grab yourself a slice of pizza and chill out maybe yeah I've not had pizza yet today that's maybe he's a bit hungry yeah might might be it okay very good though okay so no I don't think programmability I don't think it's needed on bitcoin it's not needed for for money for the purpose of a new Financial system it's not needed um there's other things to focus on like actually scaling Bitcoin rather feel like the market it takes what's needed like it does with runes and ordinals already dying it kind of says if they're needed or not it does I think the frustrating part is then people will keep every cycle we see that people will come and try the new latest buzzword and that will just distract and and kind of bloat the blockchain in ways how much bloat have we already had from ordinals that was not necessarily needed that has a long-term effect that people don't really see and understand it's also I agree the market will decide but the market is global right mhm so literally very Regional based have different incentives of how Bitcoin can be used around the world but it's all the same Market which is where in my head that's the layer two you lay don't you love layer three whatever but you like actually yes you could have a layer to that is localized to a a region to a country I think we've said this about like space travel Mars and things that you would have the theory of using Bitcoin in a multiplanetary situation you would have onchain throughout everything but it takes so long to pass the data across but you could have instant payments on Mars still using lightning Layer Two but it's a lightning Mars lightning versus Earth lightning you need to take a note of that do you wouldn't really yeah which wouldn't really with each other but the onchain side of it will interact with each other to keep everything in sync so everyone's St the same Financial system just in little hubs around the planets so theoretically yeah Bitcoin works on multiplets so that would be like yeah if you have it in multi country you could end up splitting it off and doing it in different ways but you could then Define that version of lightning to your specifications for that country for example um which theoretically you know a a cbdc style mentality if people wanted to put the UK wanted to put the pounds on bitcoin and do it on lightning and theoretically they could do something like that and have it as a private Network as such that they still control but it's just lightning layer on bitcoin and they could easily do that um which would be much more sensible to build that than try and build it on whatever the [ __ ] they're trying to build in the background I don't know I'm swearing again geez God right okay that's Lely we uh we near 1,000 subscribers yet we were going to give a heater away we're not that far off it we were saying 50 away 50 away could be this could be to Win It comment comment is it just comment after any video and you'll be putting we we say I can't remember we says comment something specific no I don't think it has to be specific anyone commenting can just be thrown in there yeah but just not Bots one per video I guess even a bot even comments are comments try get address for a see what they give us uh is there any on the subject of heat is is there any update well yeah the update is M and see over for's over Summer's arrived Summer's ared I think we'll have one on still I think in this room still cold this is our cold wearing shorts so well no it's still a cold room isn't it upstairs is ridiculously warm severely dropped massively probably noticed when you view the overall ocean graph can you get that graph up hilarious if you get enough heat people actually using it for heating then there would be a dip in the northern hemisphere wouldn't there anyway now Cliff we can now withdraw our um our earnings via lightning um which is good mid May probably turned off about a week winning getting a lot more blocks now aren't they remember when we first started that's that's that dip there that week ago that dip that's us there you go I'm in the little one 600 yeah cool they're getting blocks aren't they yeah cool man we need to withdraw our funds from there actually um we got Bol 12 so we can we can send it out yeah let's do that very awesome cool ni that's it cool than you guys lovely cheers sweet peace [Music]