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Transcription provided by Podhome.fm
Created: 1/15/2024 6:50:33 AM
Duration: 2567.445
Channels: 1

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McIntosh: Hey, sat stackers. It's November 23rd, and this is episode 146 of Generation Bitcoin. I'm your host, McIntosh,

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And today's episode

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is Happy Thanksgiving.

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Before we jump into the market app update, just want to wish everybody,

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Certainly here in the United States, a Happy Thanksgiving,

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as we celebrate Thanksgiving today.

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I'm recording this,

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you know, 10:30 in the morning. We'll be leaving, going over to,

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family here in another hour and a half.

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I don't think I'll get this edited before I get out. If I do, it'll be up. If not, it'll be out later this afternoon.

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Regardless,

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it's getting recorded on Thanksgiving,

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and,

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I am thankful

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for many

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For many things in my life,

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including

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my listeners, so thank you.

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We'll start with our market update.

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Right now, as I record, Bitcoin is at 37,116.

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Our block height

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It's 818-129.

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That's 818,129.

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Let me jot that down in my notes.

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Now that is not very different from our recording

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on

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the

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19th.

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But in between,

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we did take a big drop.

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It basically,

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ironically,

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did exactly

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what I said. I'm not a genius at this, and and this is not trading advice.

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Of course,

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Patterns are patterns. I've done this long enough that I can I can see them,

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and it's just fun to do this to have a general idea of how things are going? You should never trade based off this. Of course, here at d c

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at Generation Bitcoin, what do we talk about? We talk about DCA and your Bitcoin.

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Just dollar cost average it. Buy it every day. Use something like Strike,

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or if you could maybe

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trade for sets at a

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Bitcoin meetup, this kind of thing.

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Get that Bitcoin,

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as frequently as you can and just don't worry about the cost,

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the price of Bitcoin, I should say. So I'm looking at this chart. So, again, last week, we were talking about an upward channel that's developed developed,

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which is a bullish flag,

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Basically,

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right after I recorded so on Monday, Tuesday, after we recorded, we fell quite a bit, And then Wednesday, we went right back up.

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And then today, it's just kind of been muddling along. Now interestingly, we are under a Line of resistance at 37,500

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that I've had on this chart for I don't know how long.

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I do not know. It goes back

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a long way.

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I don't remember exactly when I put it there, but it was

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some time ago.

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And for 3 days, we have stayed under that other than brief,

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wicks above as they show on the chart.

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So

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this is proving to be a little bit of a resistance.

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Probably what we'll do

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Well, we'll see. I'm not gonna predict. I don't I don't want you guys to think that I'm starting to make chart predictions and I don't know. Whatever.

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People start relying on me and trading on me. Look. I'm not trading on this, just to be clear.

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So, Anyways,

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we we are at this point of resistance.

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I do think that we'll ultimately get on through.

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We may go back down onto the bottom of the of the upward channel. I'll go ahead and put this chart up on,

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on Twitter. I post these occasionally. I'll go ahead and take a screenshot

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so that you can

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see what I'm talking about. I'll do that right now.

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And if you look

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if you look at this picture, you'll be able to see exactly what I'm talking about. We've spent

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A few days now

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well, we're on our 3rd day under this line of resistance at 37,500.

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And I didn't just arbitrarily

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draw that line on there. I'd have I'd have to look back to see when I had drawn that and why. I don't remember, to be honest.

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McIntosh: The yellow gray is hot. I just made it,

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and I needed it this morning since I'm

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Recording

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McIntosh: so early.

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Let's see. Must be that one. There it is.

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Got it.

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And I'm just simply labeling this today's chart action.

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We'll confuse everybody on Twitter,

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but you'll know. So you can see thre days well, really four days of resistance at that 35,000,

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Our 37,500

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level, you can see the two sides of this ascending channel,

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in orange. You can see the Bollinger Bands

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There as well in light blue, the curvy kinda line

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that kinda snakes around, and then you see the blue line there of that resistance at 37,500.

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There's more resistance up above that.

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As you can see

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let me look at the bigger chart,

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at 38284,

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so 383,

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and then basically 40,000 up there as well.

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You can very clearly see that. And I think what we'll see is we'll drop back down to somewhere around 36,

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kinda like what we did a couple of days ago.

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It's possible, but this resistance proves to be strong enough to do that. But until we break this lower

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Ascending channel, we will continue to grind up. We may go all the way over here in December,

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early December,

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To basically wear that 37,500

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and that line of resistance or, excuse me, that ascending channel meet

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and and push on up at that point. I

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I suspect before then, we will have moved up to the upper part of the Ascending triangle and tried to break out. Well, we'll see.

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Interesting stuff. Interesting stuff. Next difficulty adjustment, November 25th. So coming up, and we're looking at a 4% adjustment. Man, there's just people are just throwing

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throwing

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hash power on the network.

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I, as a miner, just man, it's just it's bad.

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1.22

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gigabytes

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of transactions.

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This is our saving grace because there's plenty of transactions.

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Transaction fees are high,

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and they remain that way. I've been trying to do some things, and,

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I may just have to bite the bullet and do it. I'm cheap. I'll wait for a while, but yeah.

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There you go.

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4.05%

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difficulty adjustment.

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And

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if you recall,

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That last adjustment was 3.55.

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So we've gone up more than 2%

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and since just three days in

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that difficulty estimate.

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Alright.

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We'll go ahead and move on from there. Oh, you can follow me on Twitter at McintoshFintech.

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It's

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Mcintosh,

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f I n t e c h. So you can see that chart. Just pop on over there

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and take a look.

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What are we gonna talk about today? I posted something earlier this week that I thought was really important,

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and

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McIntosh: we're gonna talk about it.

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McIntosh: It might be a little obtuse

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for many of you,

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but it's important, and I'll explain why.

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I've talked about this in different angles

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Over

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time,

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but Bitcoin is a censorship resistant,

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decentralized,

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Nongovernmental controlled,

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network. What did I post earlier today? We somebody well, actually, it was in regards

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McIntosh: to this, so let me just just dig right in.

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McIntosh: By the way,

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I I'm not really gonna report on this, but Binance,

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the

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CEO of Binance, CZ, has been forced to step down. This was by the SEC, a deal that they made,

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basically

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pleading guilty

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to some charges by the justice

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Department paying a huge fine, which for him isn't really that big, but it was a significant amount.

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I don't know. Not really my cup of tea.

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I didn't wanna mention that, I suppose. I suppose it's news

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on November 22nd, so just yesterday.

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McIntosh: That's right. He deleted it.

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Darn.

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McIntosh: Okay. Well, I'm gonna have to improvise. I showed a screenshot.

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Taking a screenshot of it.

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I did not.

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Of course, he did. Alright.

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McIntosh: As everybody knows that listens to this podcast, I use brains mining pool. I mentioned this from time to time. I like brains. It's a great mining pool. It's actually the oldest public mining pool

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McIntosh: in existence.

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What a mining pool is

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Is a way for

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so with Bitcoin with Bitcoin mining, it's become so difficult to mine a block.

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Essentially,

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McIntosh: miners have started banding together, and this happened a long time ago,

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to pull their resources

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and mine.

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And then when somebody in the pool actually does mind that block,

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they share it.

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So it's it's cooperative,

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And it's a way to,

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you know, potentially not go for years without buying a block of Bitcoin.

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McIntosh: I'll just pull up bit

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brains. It's b r a I I I n s.

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I I always get that wrong. I put 2 n's.

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McIntosh: And just as a

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McIntosh: point of reference to give you some statistics,

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they are showing

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9,376

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active users, so that's minors. They are showing

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70,798

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active workers.

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So that's, like, 8 actual a six per miner, if that makes sense, per person.

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And then the total aggregate

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hash rate is 6.297,

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so 6.3

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Exashash.

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So

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the amount that you make when a block gets mined

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varies

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depending on how many minors that you, how many ASICs that you have running in the mining pool. Now

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here's the trick.

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Even with 6.3 Exashash, which is a decent amount, there's a total, by the way, of, like, 450 Exashash.

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This is,

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around, like, 1 a half, 2%

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of the total.

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There's a statistic that I've seen recently. It's something like that. It's 1 point something

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Percent. Not very big, which means

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basically, one out of a 100 blocks gets mined

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in the brain's mining pool.

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And if you look at a chart, you know,

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even with 70,000

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active workers, we still

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there are days when we don't get a block. We went we mined a block on 17th, and then we mined a block, 2 blocks, actually, on the 21st.

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Actually, I think we mined three blocks on 17th, but then the 18th, 19th, 20th For 3 days, which is the longest that I've seen,

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we went without mining a block. So even in a mining pool,

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It's it's not easy.

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It's not easy, but that's okay.

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This is the life we choose. Right?

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Here's the point to all this.

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These mining pools

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to an extent control things, and they're very important.

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We don't want,

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for example,

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Maybe one country, the United States, for example, having too much mining power.

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Now that doesn't necessarily mean the Servers are hosted in the United States. It means that the mining pools are. Those mining pools are a centralized point

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that the government, if you want, or a corporate

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entity,

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could seek to control.

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So these are super important, and we always wanna be careful about them.

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So one of the things that we've had going on

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Is this OFAC

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compliant

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transactions

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list or whatever, Bitcoin list? And what this means is that

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there's this

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entity,

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which I don't even know what OFAC stands for.

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The office of foreign assets control

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administers and enforces economic sanctions

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primarily against countries and groups of individuals such as terrorists and narcotics traders.

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Oh my gosh. Where did your money come from?

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You're laundering money for x, y, or z.

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This

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bureaucratic body

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Has come up with a list,

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Bitcoin addresses

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that they say

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Are being used by

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North Korea, for example.

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I know North Korea happens to be on their list

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because the North Korean government,

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God forbid is engaged in Bitcoin mining and or whatever,

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hacking. Let's just make it really evil.

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And those

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Bitcoin were illicitly gained.

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Cue the music.

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Right?

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So we're gonna make a list,

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00:14:31.890 --> 00:14:32.950
and then you,

253
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mining pool, you're going to

254
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McIntosh: you're going to

255
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Monitor

256
00:14:39.144 --> 00:14:39.885
for those

257
00:14:40.264 --> 00:14:44.925
McIntosh: transactions. You see where this is going. Right? And then if that Bitcoin,

258
00:14:45.350 --> 00:14:55.105
You're gonna monitor for those Bitcoin in it. And if those Bitcoin are used in a transaction, you are to block it. You are to not allow that in your mining pool.

259
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Now first of all,

260
00:14:57.805 --> 00:14:58.625
McIntosh: there's 90,000

261
00:14:59.725 --> 00:15:01.770
miners, or what did I say?

262
00:15:02.410 --> 00:15:04.190
70,000 minors. There's 9,000

263
00:15:04.970 --> 00:15:05.950
active miners.

264
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It's not the mining pool's

265
00:15:09.610 --> 00:15:10.110
responsibility

266
00:15:11.535 --> 00:15:15.074
To be censoring, and let's be clear, that's what we're doing,

267
00:15:15.935 --> 00:15:16.755
these transactions.

268
00:15:18.790 --> 00:15:19.529
The miners

269
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can choose

270
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to do that.

271
00:15:23.589 --> 00:15:26.330
The mining pool should not have that option.

272
00:15:27.095 --> 00:15:30.235
And yet earlier this week, that's exactly what we saw.

273
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I called it out as soon as I saw it.

274
00:15:33.790 --> 00:15:37.250
McIntosh: Satoshifish from the f2 mining pool, which is,

275
00:15:38.269 --> 00:15:40.370
I believe, an American mining pool,

276
00:15:40.750 --> 00:15:41.970
posted saying

277
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Some somebody and people monitor

278
00:15:46.175 --> 00:15:47.075
Bitcoin transactions.

279
00:15:48.175 --> 00:15:49.235
Somebody noticed

280
00:15:49.695 --> 00:15:50.195
that

281
00:15:50.670 --> 00:15:51.970
they were not mining

282
00:15:52.430 --> 00:15:52.930
certain

283
00:15:53.310 --> 00:15:53.810
transactions.

284
00:15:54.830 --> 00:16:00.515
They were censoring them, and they called him out on it. And he said, well, yes. I'm not mining

285
00:16:01.615 --> 00:16:03.455
Chinese transactions or,

286
00:16:04.015 --> 00:16:05.075
I know explicitly

287
00:16:06.335 --> 00:16:06.835
he

288
00:16:07.290 --> 00:16:07.790
mentioned,

289
00:16:09.050 --> 00:16:09.870
North Korea

290
00:16:10.410 --> 00:16:11.390
and Xi

291
00:16:12.010 --> 00:16:17.075
Jinping. And I hope I said that right. The premier of China. He says, we're not mining terrorists,

292
00:16:17.615 --> 00:16:20.035
or we're not transacting terrorist Bitcoin,

293
00:16:20.655 --> 00:16:31.230
this kind of thing. And, unfortunately, he's deleted the tweet, of course, because he got such quick backlash from it. But this is the 1st known case of this happening.

294
00:16:31.985 --> 00:16:45.450
And I was frankly pleasantly surprised because a lot of people don't understand the nuance of this. It's just a knee jerk reaction. Oh, North Korea bad. Yes. Ban them. Ban them. Ban them. Russia, bad. Ban them. Ban them. Right?

295
00:16:46.550 --> 00:16:48.730
We're gonna engage in economic warfare.

296
00:16:49.714 --> 00:16:54.135
That's not what so we're just moving from the physical to the economic.

297
00:16:54.515 --> 00:16:55.015
Look.

298
00:16:56.839 --> 00:17:01.980
Bitcoin doesn't care, and I've gone over this so many times. It doesn't care what color you are,

299
00:17:02.360 --> 00:17:05.735
what religion you are, what country you live in,

300
00:17:06.275 --> 00:17:08.135
McIntosh: what your social status is,

301
00:17:08.435 --> 00:17:12.430
so on and so forth. Bitcoin doesn't care. If you have electricity,

302
00:17:14.490 --> 00:17:15.550
if you have Internet,

303
00:17:15.850 --> 00:17:18.030
and if you have an ASIC, you can mine Bitcoin.

304
00:17:18.865 --> 00:17:20.245
You can use Bitcoin

305
00:17:20.945 --> 00:17:22.085
in a

306
00:17:22.625 --> 00:17:24.325
censorship resistant way

307
00:17:25.024 --> 00:17:28.530
to make transactions. We're past the point where

308
00:17:28.909 --> 00:17:30.929
people like this can stop

309
00:17:31.549 --> 00:17:34.210
this stuff from happening. See, the problem is

310
00:17:34.615 --> 00:17:36.475
McIntosh: You don't know what's going on there.

311
00:17:37.095 --> 00:17:37.995
We know that

312
00:17:38.535 --> 00:17:41.355
chain analysis is not perfect. We know that,

313
00:17:41.950 --> 00:17:43.250
You know, anybody in

314
00:17:43.710 --> 00:17:48.210
North Korea, people are very creative. We've seen this in places where there's

315
00:17:48.910 --> 00:17:49.890
harsh regimes.

316
00:17:51.285 --> 00:17:52.265
Places like,

317
00:17:53.045 --> 00:17:53.545
Venezuela,

318
00:17:54.005 --> 00:17:55.305
places like Cuba,

319
00:17:55.845 --> 00:17:59.145
where Bitcoin miners are kind of pirating,

320
00:17:59.830 --> 00:18:00.330
guerrilla,

321
00:18:00.870 --> 00:18:02.809
whatever you wanna call it, style

322
00:18:03.110 --> 00:18:04.730
Bitcoin mining and making

323
00:18:05.510 --> 00:18:07.690
Bitcoin. Why would we block

324
00:18:09.184 --> 00:18:11.924
their Bitcoin just because they live

325
00:18:12.465 --> 00:18:17.285
in a place that we don't agree with. How are we ever gonna have free trade

326
00:18:18.110 --> 00:18:19.490
And good world relations,

327
00:18:19.950 --> 00:18:22.450
if we block countries based on

328
00:18:23.070 --> 00:18:28.135
well, I don't agree with you over x, y, or z. I don't agree with North Korea. I don't.

329
00:18:29.075 --> 00:18:33.975
I don't agree with the regime of North Korea. I think that's pretty straightforward,

330
00:18:35.470 --> 00:18:36.770
But why would I block

331
00:18:37.230 --> 00:18:40.130
all of their ability to transact with

332
00:18:40.750 --> 00:18:41.570
the international

333
00:18:43.035 --> 00:18:43.535
Market.

334
00:18:43.995 --> 00:18:44.495
If

335
00:18:45.115 --> 00:18:46.495
if blockades work,

336
00:18:46.875 --> 00:18:48.735
McIntosh: Cuba would be a paradise.

337
00:18:49.435 --> 00:18:51.455
It used to be back in the fifties.

338
00:18:52.380 --> 00:18:53.659
See, this is this is

339
00:18:55.580 --> 00:18:58.399
McIntosh: no, dear listener. I was not around back in the fifties,

340
00:18:59.899 --> 00:19:00.880
but it was.

341
00:19:01.745 --> 00:19:02.965
When Fidel Castro

342
00:19:03.505 --> 00:19:07.765
and I hope I get this history correct. I think I will be. When Fidel Castro

343
00:19:08.545 --> 00:19:09.285
took over

344
00:19:09.830 --> 00:19:14.090
and buddied up with the Soviets, and that part may I may be not

345
00:19:14.550 --> 00:19:17.690
McIntosh: exactly getting correct, but I think this is fairly accurate.

346
00:19:19.025 --> 00:19:20.325
That's when we

347
00:19:20.705 --> 00:19:21.205
did

348
00:19:21.745 --> 00:19:23.125
a blockade, and

349
00:19:23.425 --> 00:19:24.965
I believe the rest of the world,

350
00:19:25.640 --> 00:19:31.020
McIntosh: like Western Europe, I should say. Went along with it for a while, and then they said no, and

351
00:19:31.720 --> 00:19:36.555
they've gone on and done business, but we continued our blockade to this day.

352
00:19:37.255 --> 00:19:41.275
We're just now opening up here and there. I know during Obama's

353
00:19:43.070 --> 00:19:43.570
Presidency,

354
00:19:43.950 --> 00:19:48.529
they opened up airlines for a while, and then I think that got closed. I mean, it's it's crazy.

355
00:19:48.990 --> 00:19:51.009
It's like we're punishing these people.

356
00:19:52.255 --> 00:19:56.275
In theory, we're punishing Castro or whoever I think Castro's dead.

357
00:19:57.215 --> 00:20:05.190
I'm not sure who replaced him. That's sad. I should know that. But, You know, we're we're play we're punishing the government, really.

358
00:20:05.570 --> 00:20:07.830
But really what we're doing is we're punishing

359
00:20:09.465 --> 00:20:10.125
the people.

360
00:20:10.905 --> 00:20:12.845
Because whoever's in charge,

361
00:20:14.185 --> 00:20:17.965
they make deals and do things and and and they do okay.

362
00:20:18.910 --> 00:20:20.130
They may do really good,

363
00:20:20.510 --> 00:20:21.730
but the poor farmer

364
00:20:22.350 --> 00:20:24.049
who can't get fertilizer

365
00:20:24.670 --> 00:20:26.130
because of the US blockade,

366
00:20:27.095 --> 00:20:30.555
Not to get on a side trail here, but actually,

367
00:20:31.255 --> 00:20:32.315
organic farming

368
00:20:32.695 --> 00:20:33.435
in Cuba

369
00:20:34.030 --> 00:20:34.770
has become

370
00:20:35.070 --> 00:20:38.450
very big simply because they could not get artificial fertilizer.

371
00:20:38.990 --> 00:20:39.490
Anyways,

372
00:20:40.190 --> 00:20:40.805
you know,

373
00:20:41.285 --> 00:20:42.665
It didn't help them

374
00:20:43.365 --> 00:20:44.345
is my point,

375
00:20:45.685 --> 00:20:47.305
McIntosh: but here we are doing it again

376
00:20:47.605 --> 00:20:49.290
McIntosh: or at least we're attempting to.

377
00:20:50.730 --> 00:20:52.830
So I said f 2 pool cofounder,

378
00:20:53.770 --> 00:21:01.875
and he was is the cofounder, ladies and gentlemen. So f2 pool, cofounder, ladies and gentlemen. Looks like f2 pool is now censoring transactions.

379
00:21:02.735 --> 00:21:07.980
Time to vote with your miners, fellow plebs. Like I said earlier, come join us over at Braiins Pool,

380
00:21:08.680 --> 00:21:10.940
or Braiins Mining Pool. And I

381
00:21:11.375 --> 00:21:13.875
Posted something about braiins earlier. I don't even remember.

382
00:21:14.175 --> 00:21:15.315
But, you know,

383
00:21:15.855 --> 00:21:17.075
it's very easy.

384
00:21:17.775 --> 00:21:22.150
Let's say I had a 1,000 minors. I do I do not. God, I wished I did.

385
00:21:22.610 --> 00:21:24.310
Let's say I had a 1,000 miners.

386
00:21:24.690 --> 00:21:28.310
McIntosh: I could change the pool, you know, very quickly.

387
00:21:29.105 --> 00:21:29.925
Just switch.

388
00:21:30.545 --> 00:21:34.085
McIntosh: As minors, we don't have to put up with this because I promise you

389
00:21:34.945 --> 00:21:41.100
as a as a minor in that f2 pool, that that will not be helpful for you in the end.

390
00:21:42.200 --> 00:21:45.660
McIntosh: And in fact, for the pools that do not censor

391
00:21:46.664 --> 00:21:47.164
transactions,

392
00:21:48.265 --> 00:21:49.164
they will benefit.

393
00:21:49.544 --> 00:21:54.830
People will move to braiins. Brains will become a bigger pool, which will make it a little more stable, so to speak.

394
00:21:55.870 --> 00:22:01.010
McIntosh: I thought that was important. I wanted to draw that out, actually.

395
00:22:01.549 --> 00:22:02.685
I tell you what, guys.

396
00:22:03.245 --> 00:22:08.785
I'm just gonna go ahead and stop there. I've been going on for about 15, 20 minutes. I I'm gonna go ahead and,

397
00:22:09.885 --> 00:22:14.130
I'm gonna leave it at that. That may be a little more than Kinda what y'all really

398
00:22:14.510 --> 00:22:15.010
want.

399
00:22:15.470 --> 00:22:21.650
I don't wanna turn this into a mining podcast, but just like nodes, Bitcoin nodes, these miners are

400
00:22:22.534 --> 00:22:27.034
a super important part of the network. Sensoring does not need to take place,

401
00:22:28.534 --> 00:22:33.559
plain and simple. Just don't do it because it's a very slippery slope,

402
00:22:34.179 --> 00:22:36.519
and you do not know who you're affecting.

403
00:22:38.154 --> 00:22:42.894
And regardless of my feelings for whoever the leader of Cuba is currently,

404
00:22:43.914 --> 00:22:46.900
which I think is Oh, man. I'm gonna look this up.

405
00:22:48.159 --> 00:22:49.940
I think it's Castro's brother,

406
00:22:51.919 --> 00:22:54.020
McIntosh: but we're gonna find out. Yes. No.

407
00:22:54.995 --> 00:23:00.215
McIntosh: Who is the 3rd and current 1st secretary, so that's like the president. Okay. Yeah.

408
00:23:00.595 --> 00:23:02.530
So, no, it was not. It's

409
00:23:03.090 --> 00:23:03.990
Alright. Miguel

410
00:23:04.370 --> 00:23:05.510
Mario Diaz

411
00:23:05.810 --> 00:23:07.590
Conley e Bermudez.

412
00:23:09.410 --> 00:23:09.910
Bermudez

413
00:23:10.530 --> 00:23:11.350
like Bermuda.

414
00:23:13.184 --> 00:23:13.924
Sorry, buddy.

415
00:23:14.225 --> 00:23:15.924
I think I butchered that one.

416
00:23:16.304 --> 00:23:27.270
Is a Cuban politician an engineer who is the 3rd and current first secretary of the Communist Party of Cuba. So I believe it was Castro, Fidel, and and then his brother, which

417
00:23:27.705 --> 00:23:28.605
Maybe Miguel?

418
00:23:29.225 --> 00:23:33.405
But, no, I'm probably pulling that from this guy. I do not remember his name.

419
00:23:33.785 --> 00:23:36.845
For a brief period of time, they both died if I'm not mistaken.

420
00:23:37.960 --> 00:23:41.900
I know Castro did. Fidel. I when I say Castro, I mean Fidel.

421
00:23:42.600 --> 00:23:49.705
I apologize if that's disrespectful. I don't really think it is, but I call Biden our president Biden. Biden all the time.

422
00:23:50.805 --> 00:23:52.505
McIntosh: Trump for that matter. I don't care.

423
00:23:53.125 --> 00:23:58.270
McIntosh: Yeah. So Castro and then his brother and then I think this guy. So he's now the 1st secretary.

424
00:23:58.810 --> 00:24:04.835
Regardless of my feelings for him and, you know, his policies and whatever, I'm more worried about the Cuban people,

425
00:24:05.535 --> 00:24:14.539
and I love to see that there is a Bitcoin community that is starting to flourish in Cuba, by the way. I've talked about that a little bit before. Alright.

426
00:24:14.919 --> 00:24:17.740
Enough about that. Let's roll right into

427
00:24:20.505 --> 00:24:21.005
Supporters.

428
00:24:21.544 --> 00:24:22.605
Yeah. Awesome.

429
00:24:23.465 --> 00:24:25.164
While I'm bringing this up, just,

430
00:24:27.520 --> 00:24:30.020
You know, where does this all lead? I don't I don't know.

431
00:24:31.200 --> 00:24:33.940
We know that, you know, these governments, these

432
00:24:34.545 --> 00:24:35.045
Bureaucratic,

433
00:24:35.745 --> 00:24:36.245
regulatory

434
00:24:37.345 --> 00:24:37.845
companies,

435
00:24:39.025 --> 00:24:39.525
entities

436
00:24:39.825 --> 00:24:42.965
like like OFAC, you know, they're going to be pushing.

437
00:24:43.585 --> 00:24:44.260
We know that.

438
00:24:45.220 --> 00:24:47.560
And and and our job really is to push back.

439
00:24:49.540 --> 00:24:52.120
So I don't know what form that takes,

440
00:24:54.395 --> 00:24:58.174
But my miners and my nodes will not be censoring.

441
00:25:00.450 --> 00:25:03.429
And, ultimately, if that means that I have to move them,

442
00:25:03.730 --> 00:25:06.070
you know, to a hosting provider, say,

443
00:25:07.335 --> 00:25:08.155
In Europe

444
00:25:08.615 --> 00:25:09.995
or in South America,

445
00:25:10.535 --> 00:25:12.555
then that's what they do.

446
00:25:13.575 --> 00:25:15.435
I'm good with that. It's too important.

447
00:25:16.220 --> 00:25:19.520
I hope y'all realize that that's kind of the way I'm wired at this point.

448
00:25:21.260 --> 00:25:22.960
Maybe maybe you don't,

449
00:25:23.315 --> 00:25:24.434
and that's okay. But,

450
00:25:26.835 --> 00:25:29.255
these things really are important. So, anyways,

451
00:25:30.740 --> 00:25:33.399
Something to keep in mind as we watch this develop.

452
00:25:33.779 --> 00:25:36.039
This was all in relation to did Argentina

453
00:25:36.419 --> 00:25:36.919
win.

454
00:25:37.995 --> 00:25:39.455
I will be keeping tabs

455
00:25:40.235 --> 00:25:41.135
on president,

456
00:25:41.755 --> 00:25:46.575
Malay who will take office in early December. I think it's, like, December 5th

457
00:25:47.360 --> 00:25:55.540
on his goings on. We had 2 boosts this week, though. We had an anonymous boost. I I I think we've got a regular anonymous listener. It's awesome.

458
00:25:55.915 --> 00:25:56.415
500

459
00:25:56.955 --> 00:25:58.735
sets, boost, no message.

460
00:25:59.755 --> 00:26:03.775
Friend, if you ever wanna tell me anything, just, boost away. If you do well,

461
00:26:05.909 --> 00:26:07.269
That's kind of public, but,

462
00:26:08.389 --> 00:26:10.889
you can always email me at McIntosh@gendashbtc.com.

463
00:26:13.384 --> 00:26:18.284
That will change early next year, although I will probably keep that email set up for a while.

464
00:26:18.985 --> 00:26:22.205
But, yeah, you can always send me a message if you'd like that way.

465
00:26:23.450 --> 00:26:26.350
So I appreciate that anonymous. And then also,

466
00:26:27.370 --> 00:26:27.870
Kyrin

467
00:26:28.410 --> 00:26:29.390
at Mere Mortals,

468
00:26:30.544 --> 00:26:32.725
sent in, his kinda regular,

469
00:26:33.505 --> 00:26:34.005
2222

470
00:26:34.784 --> 00:26:35.284
row of ducks,

471
00:26:35.904 --> 00:26:36.404
boost.

472
00:26:37.264 --> 00:26:37.764
And,

473
00:26:38.625 --> 00:26:41.840
yeah. I'll I'll read this out. Appreciate this, Kyron.

474
00:26:42.220 --> 00:26:44
He said I was just playing Macintosh.

475
00:26:44.540 --> 00:26:48.640
Balance is never the answer. Respect you greatly for that. Also, a healthy reminder

476
00:26:49.095 --> 00:26:53.515
that politicians talk more than they actually do. Amen to that, brother.

477
00:26:53.895 --> 00:26:56.475
Hope he can fix some things up.

478
00:26:56.775 --> 00:26:57.995
Talking about delay.

479
00:26:58.460 --> 00:27:03.039
But individual actions will solve problems more than any politician.

480
00:27:03.820 --> 00:27:04.480
I generally

481
00:27:05.260 --> 00:27:06.080
I generally

482
00:27:06.975 --> 00:27:07.715
Find politics

483
00:27:08.335 --> 00:27:10.755
to just be a complete waste of time. I yeah.

484
00:27:11.295 --> 00:27:12.515
I appreciate that.

485
00:27:13.054 --> 00:27:14.595
I'm kinda there myself

486
00:27:15.295 --> 00:27:16.355
in a lot of ways,

487
00:27:16.670 --> 00:27:19.490
And he was listening via podcast guru, by the way,

488
00:27:19.950 --> 00:27:20.770
which is

489
00:27:21.310 --> 00:27:23.170
I like it. It's pretty good.

490
00:27:23.950 --> 00:27:25.570
Pretty good little program, but,

491
00:27:26.554 --> 00:27:28.014
In general, I agree.

492
00:27:28.635 --> 00:27:29.294
I think

493
00:27:30.075 --> 00:27:34.174
as we see the breakdown of fiat in these countries, though,

494
00:27:35.380 --> 00:27:37.640
I'm hoping. Let me put it this way. There's

495
00:27:38.100 --> 00:27:42.120
y'all may find this hard to believe. I'm actually a positive person inside.

496
00:27:42.500 --> 00:27:44.485
Maybe sometimes they don't sound like it.

497
00:27:45.285 --> 00:27:45.765
I'm hoping

498
00:27:46.725 --> 00:27:47.945
I'm I'm hoping

499
00:27:48.645 --> 00:27:51.304
that there are politicians who come along.

500
00:27:52.300 --> 00:27:56.160
We need people to take control, and I don't mean like as dictators.

501
00:27:57.100 --> 00:27:59.760
McIntosh: But we need people to stop fooling around,

502
00:28:01.184 --> 00:28:07.525
McIntosh: And, you know, making a bunch of money while they're in their 4 or 8 year time frame or 12 years or whatever,

503
00:28:08.110 --> 00:28:13.170
And in general, screwing the public, excuse me for saying that, but yeah.

504
00:28:14.430 --> 00:28:21.005
I don't know if Milei will be that. I'm not even convinced that Bukele in El Salvador is that. He

505
00:28:21.705 --> 00:28:24.685
has done a lot of good things. It remains to be seen

506
00:28:25.320 --> 00:28:30.140
how he will respond in the coming years. Now I believe he's running for reelection,

507
00:28:30.840 --> 00:28:33.580
which there's even controversy about that.

508
00:28:34.325 --> 00:28:39.705
I do know that a lot of good things have happened down there. Now I'm not one to say, well,

509
00:28:40.325 --> 00:28:44.830
the good things are gonna outweigh any bad Things that that person does. So we will just

510
00:28:45.290 --> 00:28:46.910
have to wait and see.

511
00:28:47.370 --> 00:28:49.150
But I do hope because

512
00:28:49.530 --> 00:28:54.135
these countries are, I mean, just and I I talk about the United States a lot

513
00:28:54.515 --> 00:29:02.430
because it's where I live, but but there's countries all over the world that are a mess. The The EU is a mess. Let's be honest. It's a mess.

514
00:29:02.890 --> 00:29:07.794
Now that particular pickle, I don't know how they're gonna get out of because it's Such a bureaucratic

515
00:29:08.335 --> 00:29:09.554
tangle of

516
00:29:10.575 --> 00:29:13.075
countries that are together. In my opinion,

517
00:29:13.615 --> 00:29:16.650
and you may disagree with me on this, and that's fine, but

518
00:29:17.850 --> 00:29:20.990
The only way out of that is to disentangle those countries

519
00:29:22.010 --> 00:29:24.270
and dissolve the EU or at least

520
00:29:24.674 --> 00:29:28.054
Countries start pulling out of that like Britain did

521
00:29:28.515 --> 00:29:29.015
because

522
00:29:29.715 --> 00:29:30.855
they'll never get

523
00:29:31.554 --> 00:29:32.054
consensus

524
00:29:32.515 --> 00:29:34.820
in an EU that It's

525
00:29:35.200 --> 00:29:35.700
beneficial

526
00:29:36.800 --> 00:29:42.420
for the average person. They will just continue to enrich themselves. Now that's my opinion, and I

527
00:29:43.895 --> 00:29:46.075
I even hope I'm wrong because

528
00:29:46.615 --> 00:29:49.195
I don't see countries pulling out of the EU.

529
00:29:49.495 --> 00:29:58.820
Although, like I said, Britain did, but, Yeah. I mean, we've got these situations developing in one way or the other all over the world. Not to spend too much time talking about this, but

530
00:29:59.175 --> 00:30:03.355
This is kind of the point of all of this stuff that's going on. Fiat is dying.

531
00:30:03.735 --> 00:30:04.235
Countries

532
00:30:05.175 --> 00:30:08.310
are exploding in debt. How are they gonna deal with it?

533
00:30:09.270 --> 00:30:10.490
McIntosh: Argentina, 144%.

534
00:30:12.230 --> 00:30:15.930
McIntosh: What Milei ran on is he's gonna go in there and gut the government.

535
00:30:16.230 --> 00:30:18.090
He's going to go in there and

536
00:30:19.095 --> 00:30:20.155
Dollarized country.

537
00:30:20.695 --> 00:30:23.675
He's going to open up the markets. He's gonna stop blaming

538
00:30:24.295 --> 00:30:31.240
businesses for their problems, which I think is a very interesting idea. I didn't realize it was like that

539
00:30:31.940 --> 00:30:32.600
with the

540
00:30:33.300 --> 00:30:36.040
who were the people who were in power previously.

541
00:30:37.535 --> 00:30:38.995
But on the other hand,

542
00:30:39.695 --> 00:30:41.875
individual actions do solve problems.

543
00:30:42.335 --> 00:30:43.315
And in countries

544
00:30:44.230 --> 00:30:45.370
Like the United States

545
00:30:46.310 --> 00:30:49.130
that are stuck in a 2 party quagmire

546
00:30:49.990 --> 00:30:53.735
where real change is not gonna take place anytime soon in my opinion.

547
00:30:54.215 --> 00:30:57.195
Yes. Individual actions will speak louder than

548
00:30:57.655 --> 00:31:02.715
anything else. And that's why I'm willing to say things like, well, if you're going to force me to

549
00:31:03.270 --> 00:31:10.330
Since their Bitcoin transactions, I'll move my servers somewhere else even though that may cost me money and time and stress.

550
00:31:11.235 --> 00:31:11.735
McIntosh: Absolutely.

551
00:31:13.155 --> 00:31:15.575
McIntosh: That's why I'm willing to say things like,

552
00:31:16.195 --> 00:31:16.695
even

553
00:31:17.075 --> 00:31:17.575
PayPal.

554
00:31:18.090 --> 00:31:21.150
Just as simple as that. I don't take PayPal. I used to.

555
00:31:21.450 --> 00:31:22.350
And they were

556
00:31:22.970 --> 00:31:24.830
rejecting someone's business,

557
00:31:25.675 --> 00:31:37.130
or shut down their account. I don't remember the details. They've done it a number of times over the years. And the last time I heard about it, I'm just like, I'm fed up. I'm shutting down my account. I will no longer use them, and I no longer accept

558
00:31:37.670 --> 00:31:43.370
Fiat through PayPal even though that's the easiest way in the world to have it on your website.

559
00:31:44.305 --> 00:31:45.525
That cost me.

560
00:31:45.905 --> 00:31:50.725
These things are important, and I I appreciate that. I know you were not

561
00:31:51.440 --> 00:31:54.660
being serious, actually, just as another note.

562
00:31:55.440 --> 00:31:57.620
Yeah. I got it. It just I don't know.

563
00:31:58.755 --> 00:32:01.735
It's the way I get roll, man. Just I don't know.

564
00:32:04.275 --> 00:32:05.575
I I felt

565
00:32:05.929 --> 00:32:09.789
I when I recorded that, I'm like, man, should I put that in? I almost didn't.

566
00:32:10.490 --> 00:32:17.475
I almost just kinda just let it go. It's not directly relevant to this Bitcoin content, and I I don't know. I just,

567
00:32:19.715 --> 00:32:20.375
it's just

568
00:32:20.850 --> 00:32:24.150
I chose to leave it in because sometimes I do try and kind

569
00:32:24.690 --> 00:32:31.225
of help y'all to understand where I'm coming from. So alright. Enough about that, but thank you. Thank you both for your support.

570
00:32:31.925 --> 00:32:38.240
Alright. Let's jump into the news. I need to get this wrapped up because I gotta get cleaned up to go to the family.

571
00:32:38.620 --> 00:32:39.120
So

572
00:32:39.420 --> 00:32:46.455
I thought we've already covered kind of the big news item of the week, at least in my opinion. Now a lot of people didn't talk about it, and that's

573
00:32:46.914 --> 00:32:47.414
okay.

574
00:32:47.955 --> 00:32:55.654
So, right, they're blaming Binance. I will say this about this whole Binance. They're using that to funnel money to Hamas and blah blah blah.

575
00:32:56.740 --> 00:32:57.720
I I don't know.

576
00:32:58.340 --> 00:32:59.159
McIntosh: I don't know.

577
00:32:59.779 --> 00:33:00.679
It's a mess.

578
00:33:00.980 --> 00:33:10.575
McIntosh: I think, like I said about Argentina, they're making it very clear they're going to be moving very quickly to the dollar. They're going to kill their central bank.

579
00:33:11.660 --> 00:33:13.600
It may be gone before the end of the year.

580
00:33:15.100 --> 00:33:16.720
McIntosh: That may have actually been it.

581
00:33:18.035 --> 00:33:21.495
Looks like it. I mean, I did only record a few days ago, but

582
00:33:22.195 --> 00:33:23.895
I did wanna draw this out.

583
00:33:25.610 --> 00:33:26.510
McIntosh: Alex Gladstein,

584
00:33:27.370 --> 00:33:30.350
he wrote oh, what's that book? I've talked about it.

585
00:33:31.610 --> 00:33:33.715
He writes about the IMF World Bank.

586
00:33:34.195 --> 00:33:35.255
He writes about,

587
00:33:35.794 --> 00:33:38.054
oh, human rights a lot. He's the

588
00:33:38.434 --> 00:33:42.294
founder of the Human Rights Foundation, I think it's called. The Oslo Forum.

589
00:33:43.399 --> 00:33:43.899
McIntosh: Anyways,

590
00:33:45.159 --> 00:33:49.179
McIntosh: this was posted about a interview that he did with Peter McCormick recently,

591
00:33:49.480 --> 00:33:50.139
I think.

592
00:33:51.005 --> 00:33:53.585
It's Peter McCormick here. In 1970,

593
00:33:53.965 --> 00:33:58.065
McIntosh: total debt owed by poor countries, and I don't know what poor countries means, but,

594
00:33:59.649 --> 00:34:01.190
whatever, was $46,000,000,000.

595
00:34:03.010 --> 00:34:04.309
McIntosh: Today, they owe $8,700,000,000,000.

596
00:34:05.809 --> 00:34:06.789
That's a 189

597
00:34:08.345 --> 00:34:08.845
x.

598
00:34:09.865 --> 00:34:13.165
So times increase in 5 decades. For every

599
00:34:13.625 --> 00:34:14.925
$1 of aid

600
00:34:15.590 --> 00:34:18.330
that developing countries receive, they lose $24

601
00:34:18.950 --> 00:34:19.610
in that

602
00:34:20.150 --> 00:34:20.650
outflow.

603
00:34:21.030 --> 00:34:21.530
Argentina

604
00:34:21.830 --> 00:34:27.994
is opting out of IMF and World Bank debt slavery. I Believe that last statement is absolutely correct.

605
00:34:28.454 --> 00:34:30.234
I believe that is something that,

606
00:34:31.494 --> 00:34:32.555
Milei has already,

607
00:34:33.930 --> 00:34:34.430
Indicated,

608
00:34:35.530 --> 00:34:36.350
that the

609
00:34:36.810 --> 00:34:43.515
talks that they were already having with the IMF or and and the World Bank are are out the window. They're not doing that. So

610
00:34:43.975 --> 00:34:45.195
glad to hear that.

611
00:34:47.175 --> 00:34:47.675
Congratulations,

612
00:34:48.135 --> 00:34:49.995
Argentina, for taking that very

613
00:34:50.450 --> 00:34:51.910
Important step towards

614
00:34:52.530 --> 00:34:55.030
national sovereignty, which is what they need.

615
00:34:56.370 --> 00:35:06.195
These countries that owe the IMF, the World Bank, You know, they they are not sovereign. They are they are in debt. Put it crudely, they are slaves to the IMF and World Bank, and I'd I'd

616
00:35:06.800 --> 00:35:08.340
so not a whole lot of news.

617
00:35:09.359 --> 00:35:12.020
No news about these ETFs other than

618
00:35:12.880 --> 00:35:14.340
I don't know who somebody

619
00:35:15.415 --> 00:35:20.155
updating their paperwork. I mean, we're literally to that point where people, oh, they updated their paperwork.

620
00:35:22.295 --> 00:35:27.890
It will happen. It will probably be Q1. I don't think it will happen this year, but yeah.

621
00:35:28.670 --> 00:35:33.845
Generation Bitcoin supports podcasting 2.0. It's a value for value podcast With no sponsors

622
00:35:34.145 --> 00:35:48.110
and no advertising, you can support the podcast in 3 different ways, time, talent, treasure. If you wanna support the podcast that has some time or talent, Hey. While I'm taking this break in December, I could use some extra help with lots of things. So just reach out, mccintosh@gendashbtc.com

623
00:35:50.675 --> 00:35:54.135
to, let me know. I could use help with things like transcripts,

624
00:35:55.315 --> 00:36:00.580
website move, other things, treasure is just what it sounds like. If you find the content valuable,

625
00:36:01.120 --> 00:36:11.545
you can support the podcast by streaming sets or boosting like our supporters did today from a podcasting 2.0 app. You can get the podcasting tool point o apps

626
00:36:12.244 --> 00:36:14.025
if you do not already have one

627
00:36:14.484 --> 00:36:19.089
from new podcast apps dotcom. I like fountain. I like podcast guru.

628
00:36:21.790 --> 00:36:24.050
Those are the ones that I have tried.

629
00:36:24.585 --> 00:36:25.085
Podverse,

630
00:36:25.465 --> 00:36:26.285
not Castamatic.

631
00:36:27.145 --> 00:36:27.645
Sorry.

632
00:36:28.425 --> 00:36:34.330
Fountain Podcast Guru and Podverse are the ones that I have done oh, I do have Castamatic, and I have used

633
00:36:35.530 --> 00:36:41.390
those are the four that I've used, and they've all been pleasant. You just need to figure out which one you like, so go try them.

634
00:36:41.705 --> 00:36:46.525
Connect one of those up to maybe an Albie wallet, for example, or your lightning wallet,

635
00:36:46.825 --> 00:36:49.005
and then you can then stream and boost,

636
00:36:49.960 --> 00:36:52.060
the podcast that you're listening to,

637
00:36:52.920 --> 00:37:01.455
you know, we call this value for value. If we're providing value to you, then You can provide value back and help support this show.

638
00:37:02.155 --> 00:37:04.655
And there's so many ways of doing it beyond just

639
00:37:05.115 --> 00:37:06.415
the sats. Right?

640
00:37:07.220 --> 00:37:15.400
As an example, if you like the content, I would love it if you tell your friends about Generation Bitcoin. That is one of the best ways to keep our numbers growing

641
00:37:16.135 --> 00:37:24.395
and moving in an upward direction. Thanks for being here. I hope this has been helpful. I would love to hear from you. I'm on Twitter at McintoshFintech.

642
00:37:25.240 --> 00:37:27.260
Again, on email at McIntosh@gen-btc.com.

643
00:37:29.800 --> 00:37:32.380
Stay humble, friends. Go out. Make it a great week.

644
00:37:33.185 --> 00:37:36.245
Again, have a happy Thanksgiving if you're here in the United States.

645
00:37:36.865 --> 00:37:41.605
Take some time to reflect in on what you're thankful for. Have a great week.