WEBVTT

NOTE
Transcription provided by Podhome.fm
Created: 1/14/2024 8:29:06 AM
Duration: 2330.462
Channels: 1

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McIntosh: Hey, Sats Stackers.

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This is

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the last episode

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of Generation Bitcoin,

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episode

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one forty eight. This is your host, Macintosh.

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So let's get to it.

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Alright. So this is gonna be a little bit different, for a couple of reasons. First of all, this is the last episode Generation Bitcoin. In just a few minutes, I'll tell what the name of the new

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podcast will be when it comes out in January. We've discussed this a lot, so I'm not gonna spend a whole lot of time on it, but I will be announcing that very shortly.

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I had something happen yesterday, and it's thrown me for a loop, which is probably why my

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intro was off.

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I use Umbrel. I've used the Umbrel for a while,

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for a fair amount for, I don't know, probably at least a year.

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And last night, I had a partition

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die,

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specifically. I actually think I had a a hard drive itself die,

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and it looks like it's unrecoverable.

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And your lovable host here did not do his due diligence even though he knew better

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and he didn't have backups.

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So,

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the worst thing I lost was probably a 100,000,

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sats,

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on a lightning node that he had set up, but I also just realized

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Trillium

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notes were on there as well in the long run. That may actually

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prove

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more painful. So I literally have no notes for this.

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So if I

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don't get things correct,

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I wanna blame it on that, and we'll move on. So this is going to be a fairly short episode.

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This will be the last episode

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until the start of next year when I will be kicking off

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Satoshi's Plebs podcast. I have

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registered,

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Satoshis

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dash plebs,

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plebs plural,

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and Satoshi, like, it's Satoshi's possessive, so it's satoshi

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s

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Dash Clubs.

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So that's what we're going to do, and

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I spent quite a bit of time trying to come up with a name. I have dozens,

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well, at least a dozen different domain names that I could have registered.

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But I'm I'm very pleased with this, and there's a reason why.

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Of course, Satoshi Satoshi Nakamoto

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who was the pseudononymous,

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creator

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of Bitcoin,

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the founder,

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the

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the person who led the project

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until he disappeared

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a few years

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in, said that he was leaving

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and that was it. Kind of this apocryphal story almost at this point. So I'm very disappointed

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about my

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I'm very disappointed about my Trillium. I'm actually more

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disappointed about that than than

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the 100,000 sats. Although, in the long run, I may regret the sats.

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They should be returned

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to the main chain.

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That's the way that lightning works when things get forced closed.

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Satoshi's Plebs. Yes. Satoshis-plebs.com.

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It is not up as I make this podcast,

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and this will be put out later today, but it will be up before January 1st. I will get something going,

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on there. I will move this

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podcast over

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to,

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CastOS,

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my CastOS setup,

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from Captivate.

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And so there we go.

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Yeah.

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So looking forward to that, looking forward to the new podcast.

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I have always been, as you know, about plebs, about the common person, if you wanna call it that.

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To me, brick Bitcoin is free to money that that

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absolutely

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can help clubs.

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People

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like in Argentina,

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where they have

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144%

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inflation,

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currently,

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and,

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you know, that punishes the people who live out in the countryside, so to speak, who aren't

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technocrats, who don't, you know,

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they don't, have a whole lot of Internet knowledge in this kind of thing. They can't buy you you they can't trade for US dollars

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to keep some value

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when their currency continues to devaluate.

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Bitcoin is freedom money in the sense to them

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that even though Bitcoin is volatile, I promise you it's less volatile than the Argentine Peso right now or the Turkish lyra or the, Lebanon,

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currency. I don't know what it is.

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Or probably a few other places around the world right now.

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And there's so many other ways that Bitcoin

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helps the common person, the pleb. Does it help, you know,

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is it going to help

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BlackRock,

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when their ETF gets approved, absolutely,

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those people are not plebs,

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but it will help the plebs.

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It'll help the people who

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don't have banking services. Otherwise, the unbanked. There's so many people in the world who do not have banks, and

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Bitcoin is literally a way to solve that problem. Alright.

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Block height, that time of recording. Let me

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do this real quick. Gonna go to mempool.space.

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Actually, I want to go to time chain calendar.

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We'll go there real quick, and we'll take a look at the markets. We're at 819-165.

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That's

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819,165.

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We are now officially 90% of the way to the next halvening,

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which will occur in late April.

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Our previous adjustment happened just a few days ago. I think I may have actually said this last time, but it was 5.07%.

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Right now, we are actually looking at a downward adjustment, 3.69%.

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That would happen on December 2nd,

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and, that is because all of a sudden, for whatever reason, block times are now 10 minutes and 23 seconds on average.

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So the difficulty is set to adjust downward

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to account for that.

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And right now, actually,

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you know, fees

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are okay.

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Priority is 36. Anytime is 22 sets per v byte, so that's actually much better

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than it has been. We are still at 1.3 gigabytes

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of

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mempool.

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So a lot of transactions out there.

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Alright. The last block that was mined was 6.619

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seven in total subsidy plus fees, and that went, unfortunately,

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to Ant Poole

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instead of my beloved brains.

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Brains, made a big announcement actually yesterday.

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There was a few mining announcements

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this week, but they are moving

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to

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a different form of reward structure. I think they call it FPP or F p p p, something like that. Here it is. Actually, there's their announcement

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coming in December.

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And what that means,

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FPPs,

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actually.

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I'll probably break this down a little bit more maybe in,

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well, we'll see. Maybe not. But rather than getting a reward whenever a block is mined, that's

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the oldest way of doing this.

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And,

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brains is one of the few mining pools left that still does that. They're going to move to this system

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where essentially they calculate, oh, this is what your reward in average would be in

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every day, every block, I guess. I'm not exactly sure,

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but you get that fixed amount. It will make it. I it must be every block. Otherwise, when you lose a miner,

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you can't it

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that that's what makes sense. It would be every block. Yeah.

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You get a fixed amount per your hash rate. So If I have a set number of miners that are all online and all hashing,

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I would know

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how much am I going to get today, tomorrow. It makes it more predictable.

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So a lot of people like it. I don't know. Yeah. I tell you, it is a little annoying when you go for a day or 2.

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As, again, we had 2 days ago, we went without a block,

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you know, without getting a a a block.

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I know overall this is not really gonna change things, but, but it will make it easier for to do calculations

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if I'm looking

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to,

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project

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cost, this kind of thing. So I will look forward to it from that. There was a couple of other announcements. There was a new mining pool that was, being started up called Ocean. Got a lot of hype. You got Jack,

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Dorsey

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from,

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ex Twitter guy,

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behind it through some money. Apparently, they got, like, $6,000,000

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to start up this mining pool, which just boggles my mind.

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Supposedly,

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they're so they're gonna be using Stratum v 2,

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which braiins does as well. Braiins supports Stratum. Now, apparently, they're

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enabling features,

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that nobody else does. So Stratum is fairly new. Stratum  v2, I should say.

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And, you know, it's it's getting rolled out. So they're really

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trying to kind of do everything

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all at once.

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They've gotten some backlash. I'm gonna reserve any kind of judgment because they just made an announcement a couple of days ago.

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Luke Dash junior is one of the people behind it who is a very old

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Bitcoin person. I he got in in the early days. I don't know exactly when. I don't mean age. He's younger than I am, I'm sure

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quite sure, but

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he's been around for a long time. So, anyways,

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he is involved,

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you know, some fairly prominent people.

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And, again,

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they've already had,

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some kind of

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pushback.

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I'm not even gonna get into today because at this point, it's kind of, gossip and whatever.

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Water cooler talk. I I don't typically engage in that.

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I I do wanna give, especially somebody new like this, kind of the benefit of the doubt. We'll see.

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But that was a new deal coming out, so,

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a little more money news there.

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Let's take a look at the market, though.

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We're holding steady. Our price right now, 37,739.

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We have not actually fluctuated

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very much

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on Tuesday.

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And then again on Wednesday,

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we went up and we touched, you know, 38,000,

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went a little bit above it both days.

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Today, we have, actually, I guess we did. That must have been late last night.

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We went right above 38,000,

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but we've we've

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definitely being helmed in by this next line of resistance.

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And it looks to me like it's going to do exactly what I was projecting

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where it's gonna kinda crawl sideways, and then it will be forced either to go

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go up and break out of this upward channel or it will go down and and fall out of it, so to speak. And then If that's the case, it could go down a bit.

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I should not do this. I was thinking about this earlier today, but I'm going to. Since I'm going to be off

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for the entire month of December,

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I'm going to go ahead and project out, and I shouldn't do this. Of course, this is not absolutely trading advice. What we always talk about here,

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Generation Bitcoin

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is,

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you know, DCA. Dollar cost average, you should be buying using something like strike or, you know, ideally,

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in some non KYC manner. I I get how difficult that is. We're gonna be talking about that kind of stuff more,

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with Satoshi's plebs. Of course, I've already

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discussed that a bit.

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Privacy is becoming a huge thing, and we need to be very aware of what's going on. So, anyways,

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however you do that, you should be doing that. Don't be trading. Don't it's gambling. I mean, it's,

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Well, maybe it's more than gambling, but, yeah, it's for most people, it's gambling. And and really, that's the way a lot of them they, oh, this token's gonna go to the moon. They throw money at it, and then maybe it does very briefly, but then they don't take their money out and it bust and they lose all their money. That happens a lot.

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Or people are telling, hey. Bitcoin's going to $100,000.

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I've people have already been saying by the end of the year, is going to $100,000.

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Now that was a month ago since we're only at $37,747.

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Maybe they've withdrawn that. I don't know. Or 200 k by conference day or or whatever, and then you, you know, you kinda ape in. You throw your money in and you lose it.

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So,

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anyways, I do this because I find these patterns interesting.

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I do think in general terms, they certainly give a pretty good idea.

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I would say just looking at this upward channel, which we've now been in

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for a month.

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Yes, over a

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month. Actually, we early

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October 24th, not early October, but October 24th is when we entered this upward channel,

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and it has played out perfectly.

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I do believe we are going to be at 40 k before the end of the year. Now, again, not trading advice.

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Don't

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do not cut this out if we do not reach 40 k and say, well, he said so.

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I'm just

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I'm just sitting here at the water cooler, man. That's all I'm doing. Okay?

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But given the upward channel,

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given the predictability

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that most likely it's going to go up, given that we're already above of and established a fairly strong

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support level at 375.

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If we can make it above this 38 2 or so level, which we're now testing,

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you know, I think we will we will head on up to 40 at that point. I think we'll touch 40 before the end of the year, if not go higher.

241
00:15:12.225 --> 00:15:14.805
I got my next line of resistance at

242
00:15:15.265 --> 00:15:15.765
40000201.

243
00:15:16.785 --> 00:15:18.485
It may not make it above that,

244
00:15:20.020 --> 00:15:23.080
but we'll see. If we have a strong breakout of this,

245
00:15:23.860 --> 00:15:30.695
ascending channel, we could. And then, you know, we'd Be off to the races for a couple of 1,000 anyways

246
00:15:31.155 --> 00:15:32.375
up to about 42,000.

247
00:15:32.835 --> 00:15:39
So I'm pretty positive about the rest of this year. In I'll be honest. I'm pretty positive all the way up till,

248
00:15:40.360 --> 00:15:44.540
and then on into the later part of the year. I'm sure there will be dips.

249
00:15:45.295 --> 00:15:45.795
Absolutely,

250
00:15:46.335 --> 00:15:47.955
we may pull back to 35,000.

251
00:15:49.455 --> 00:15:54.700
I'll just be honest. We could I could see it. I could see us falling out of this ascending

252
00:15:55.240 --> 00:15:55.740
channel,

253
00:15:56.840 --> 00:15:57.580
going down,

254
00:15:57.960 --> 00:15:58.940
hitting 35,000

255
00:15:59.320 --> 00:16:02.060
or something like that, and then shooting right back up.

256
00:16:02.685 --> 00:16:04.305
There is so much positivity

257
00:16:04.605 --> 00:16:10.385
in this market now in terms money's not moving. And by money, I mean, Bitcoin.

258
00:16:11.050 --> 00:16:12.430
People are not

259
00:16:13.290 --> 00:16:16.350
moving their Bitcoin up to exchanges to sell.

260
00:16:17.610 --> 00:16:19.870
Over 70% have held for,

261
00:16:20.764 --> 00:16:23.105
what was it? I said it a couple weeks ago.

262
00:16:23.485 --> 00:16:25.024
Like, 2 years or so.

263
00:16:25.404 --> 00:16:41.875
Alright. So there's my prediction. There's my end of year prediction. We'll see. 40 k by the end of the year. Will I get back on before the end of the year? No. Not even if there's a Bitcoin ETF, and there could be 1 approved by them. I'm not going to do it. I will restrain myself.

264
00:16:42.335 --> 00:16:45.714
I've already prepped everybody on all of this stuff. You know?

265
00:16:46.095 --> 00:16:59.715
If BlackRock gets approved. Yes. The price is gonna shoot up. In fact, it would smash 40 k. There's no doubt about that. It would I don't know where it would stop. It might go up to 60. I could definitely see that. It might go higher

266
00:17:00.175 --> 00:17:04.515
even within a just a couple of months. I don't know. We will see.

267
00:17:05.009 --> 00:17:06.870
We could have some very bad news.

268
00:17:07.570 --> 00:17:11.110
So we'll jump into today's topic at this point.

269
00:17:11.945 --> 00:17:13.644
There were some more

270
00:17:14.745 --> 00:17:15.245
attempts,

271
00:17:16.265 --> 00:17:17.725
the beginnings of attempts

272
00:17:19.520 --> 00:17:20.179
at regulation,

273
00:17:21.600 --> 00:17:22.980
here in the United States.

274
00:17:23.760 --> 00:17:27.059
And I wanted to point this out way back

275
00:17:27.679 --> 00:17:28.179
January,

276
00:17:28.625 --> 00:17:30.005
December last year now,

277
00:17:31.825 --> 00:17:33.924
I was talking about how 2023

278
00:17:34.385 --> 00:17:37.445
is going to be the year of regulation,

279
00:17:38.190 --> 00:17:40.370
and, it has proven to be

280
00:17:40.990 --> 00:17:41.490
certainly.

281
00:17:42.590 --> 00:17:43.730
I have a feeling

282
00:17:44.590 --> 00:17:46.450
that that regulation will continue.

283
00:17:47.924 --> 00:17:50.985
I believe we have multiple years of this left

284
00:17:51.765 --> 00:17:52.265
before

285
00:17:53.125 --> 00:17:55.465
the governmental bodies of the world,

286
00:17:55.845 --> 00:17:56.345
really,

287
00:17:56.890 --> 00:17:58.990
not just United States or whomever,

288
00:17:59.770 --> 00:18:03.230
forms frameworks that Bitcoin can operate in.

289
00:18:05.505 --> 00:18:08.645
And until that's done, until we get reasonableness

290
00:18:10.065 --> 00:18:10.565
in

291
00:18:10.945 --> 00:18:12.725
the way that Bitcoin is treated,

292
00:18:13.640 --> 00:18:20.620
we need to continue to be very aware of these, and we need to continue to push back when necessary. And I believe that this is

293
00:18:20.965 --> 00:18:25.465
another case where a pushback needs to happen. So without further ado,

294
00:18:26.005 --> 00:18:26.745
the treasury,

295
00:18:28.405 --> 00:18:28.905
on

296
00:18:29.620 --> 00:18:30.120
11/28,

297
00:18:30.740 --> 00:18:32.200
so just 2 days ago,

298
00:18:32.660 --> 00:18:36.840
has gone to congress, writing congress, and, saying,

299
00:18:37.654 --> 00:18:39.274
We want new power

300
00:18:40.054 --> 00:18:40.955
over crypto.

301
00:18:41.815 --> 00:18:45.274
In general, they're not talking about Bitcoin specifically,

302
00:18:45.815 --> 00:18:48.320
but this will, I assure you,

303
00:18:49.100 --> 00:18:49.600
fall

304
00:18:49.900 --> 00:18:50.400
under,

305
00:18:51.500 --> 00:19:00.705
Bitcoin will fall under this act. So their argument is they're trying to crack down on illicit activity in crypto. Now this is an age old argument.

306
00:19:01.165 --> 00:19:03.345
It gets refuted over and over again.

307
00:19:03.885 --> 00:19:04.925
Criminals use,

308
00:19:05.245 --> 00:19:06.065
by and large

309
00:19:06.870 --> 00:19:07.370
cash.

310
00:19:08.150 --> 00:19:11.130
So I guess if we really wanna get rid of criminals,

311
00:19:12.070 --> 00:19:23.765
money laundering of all the things that go along with that, then, you know, we should get rid of cash. So here's what they're saying. Treasury is asking congress to grant new power to go after crypto and fintech platforms,

312
00:19:24.750 --> 00:19:26.690
used by militant organizations

313
00:19:26.990 --> 00:19:30.450
like Hamas according to documents attained by Politico.

314
00:19:31.525 --> 00:19:33.605
Of political as a website here in the United States.

315
00:19:34.005 --> 00:19:36.905
Obviously, very politically oriented as terrorists,

316
00:19:37.445 --> 00:19:37.945
transnational

317
00:19:38.485 --> 00:19:38.985
criminals,

318
00:19:39.419 --> 00:19:40.799
and rogue states

319
00:19:42.779 --> 00:19:45.600
turns to sorry. That was sound effects by Macintosh.

320
00:19:46.140 --> 00:19:49.495
Turns to digital assets to finance their activities.

321
00:19:50.035 --> 00:19:51.895
We need to build an enforcement

322
00:19:52.995 --> 00:19:53.495
regime

323
00:19:54.115 --> 00:19:55.095
that is capable

324
00:19:55.635 --> 00:19:56.455
of preventing

325
00:19:57.120 --> 00:19:57.860
This activity,

326
00:19:58.800 --> 00:19:59.780
deputy treasurer

327
00:20:00.400 --> 00:20:01.620
secretary Wally

328
00:20:02.080 --> 00:20:02.580
Adeamo

329
00:20:03.120 --> 00:20:10.225
wrote in a letter to senate banking chair, Sherrod Brown, Democrat, Ohio, House Financial Services chair, Patrick McHenry,

330
00:20:10.765 --> 00:20:16.210
Republican from North Carolina, and ranking members, senator Tom Tim Scott,

331
00:20:16.830 --> 00:20:19.010
Republican from South Carolina, and

332
00:20:19.470 --> 00:20:21.409
representative Maxine Waters,

333
00:20:22.095 --> 00:20:23.235
Democrat from California.

334
00:20:25.455 --> 00:20:26.515
So there's,

335
00:20:27.215 --> 00:20:29.395
a lot more than just this letter.

336
00:20:30.095 --> 00:20:31.600
There was a lot

337
00:20:32.160 --> 00:20:32.660
here.

338
00:20:33.520 --> 00:20:34.020
And

339
00:20:34.480 --> 00:20:37.780
they make it very broad. They do that on purpose.

340
00:20:38.720 --> 00:20:40.020
It's a power grab.

341
00:20:40.644 --> 00:20:46.345
Why the treasury would have, of the United States, the people who manage the money,

342
00:20:46.965 --> 00:20:48.585
would have any input

343
00:20:49.044 --> 00:20:49.544
into

344
00:20:50.720 --> 00:20:51.780
Fintech platforms

345
00:20:52.080 --> 00:20:55.300
and crypto at this point. I don't understand.

346
00:20:56.320 --> 00:20:56.980
I don't.

347
00:20:57.280 --> 00:20:58.820
Now maybe I'm being

348
00:20:59.144 --> 00:20:59.644
naive,

349
00:21:00.024 --> 00:21:01.005
but they're looking,

350
00:21:02.024 --> 00:21:03.164
to categorize,

351
00:21:04.264 --> 00:21:10.600
financial institutions that are involved in crypto under the Bank secrecy act? Oh, okay. You can't

352
00:21:11.059 --> 00:21:11.559
send

353
00:21:12.100 --> 00:21:12.600
$10,000

354
00:21:13.059 --> 00:21:14.759
from me to you,

355
00:21:15.379 --> 00:21:15.879
from

356
00:21:16.315 --> 00:21:17.135
swan Bitcoin

357
00:21:17.515 --> 00:21:18.495
to unchained

358
00:21:19.035 --> 00:21:21.135
because that's gonna fall under the BSA.

359
00:21:21.915 --> 00:21:23.215
That's just one example.

360
00:21:23.950 --> 00:21:28.450
The authority to sanction notes and chains. I don't know what they mean by notes.

361
00:21:28.750 --> 00:21:32.555
Now how they're gonna sanction Bitcoin, I don't know how that's gonna work out

362
00:21:33.355 --> 00:21:36.975
because, Bitcoin isn't a security. Bitcoin doesn't have a foundation.

363
00:21:37.355 --> 00:21:39.535
Bitcoin doesn't have a CEO, CTO,

364
00:21:40.475 --> 00:21:43.440
CFO, or any of those other c letters.

365
00:21:44.380 --> 00:21:44.880
Bitcoin

366
00:21:45.260 --> 00:21:48.480
doesn't employ anyone, so go ahead and sanction

367
00:21:48.860 --> 00:21:50.960
Bitcoin and watch us care.

368
00:21:52.185 --> 00:21:54.605
Tools to sever crypto operations

369
00:21:54.905 --> 00:21:55.885
from the US.

370
00:21:56.505 --> 00:22:01.850
I actually think that's what we see in a case like Binance going on right down where,

371
00:22:02.549 --> 00:22:05.610
you know, clearly, they think that there was a lot of malfeasance

372
00:22:08.309 --> 00:22:09.210
going on,

373
00:22:10.125 --> 00:22:16.785
with Binance. So they basically kicked them out of the country, gave them a huge fine on the way out the door. And

374
00:22:17.440 --> 00:22:24.419
I guess, from what I'm understanding, literally putting the CEO of Binance in jail for, like, 6 months. Federal penitentiary,

375
00:22:24.720 --> 00:22:29.945
I'm sure. So he'll probably have a nice cushy little place there to do some quiet contemplation

376
00:22:30.965 --> 00:22:32.505
along with his, what, $150,000,000

377
00:22:33.764 --> 00:22:34.264
fine,

378
00:22:35.030 --> 00:22:37.610
which is chump change for him, frankly,

379
00:22:38.470 --> 00:22:42.409
not to be dis well, I guess that is being dismissive, but still,

380
00:22:42.914 --> 00:22:45.495
I don't know. I mean, I I don't know.

381
00:22:47.154 --> 00:22:54.669
I think they were trying to make an example of them, and This would give the treasury department the tools to sever those,

382
00:22:55.370 --> 00:22:56.510
operations. So,

383
00:22:57.165 --> 00:22:59.985
In this case, of course, it went through our justice department,

384
00:23:01.565 --> 00:23:03.325
as it probably should have.

385
00:23:03.725 --> 00:23:05.905
I do not know if all the

386
00:23:06.470 --> 00:23:09.289
information will come out about what they found.

387
00:23:10.149 --> 00:23:13.049
I do know that there were some leaks of,

388
00:23:14.055 --> 00:23:16.395
you know, like, Slack channel messaging

389
00:23:16.775 --> 00:23:19.675
or whatever it was that they used, and it was

390
00:23:20.695 --> 00:23:24.269
not good stuff. They were definitely trying to circumvent

391
00:23:25.049 --> 00:23:26.830
the United States laws

392
00:23:27.289 --> 00:23:32.535
when they would have someone who was trying to work with them from the United States, so

393
00:23:32.915 --> 00:23:33.655
I don't know.

394
00:23:34.035 --> 00:23:36.375
Oh, and most importantly, maybe

395
00:23:36.675 --> 00:23:38.695
direct authority overall USD

396
00:23:39.480 --> 00:23:39.980
Stablecoins.

397
00:23:40.320 --> 00:23:40.820
So

398
00:23:41.159 --> 00:23:43.580
I cannot go out as Joe Bitcoin,

399
00:23:44.679 --> 00:23:45.419
for example,

400
00:23:45.960 --> 00:23:48.380
and make a Stablecoin based on lightning,

401
00:23:48.840 --> 00:23:52.365
with the what is it called? Taproot assets, I think.

402
00:23:52.905 --> 00:23:54.125
We can now mint

403
00:23:54.825 --> 00:23:56.685
essentially stable assets

404
00:23:57.350 --> 00:23:59.289
on that. That's something that I

405
00:24:00.149 --> 00:24:02.409
I have an interest in personally.

406
00:24:02.950 --> 00:24:05.370
I'll probably talk about that in the future, but

407
00:24:05.835 --> 00:24:08.255
but no. That would directly fall under the treasury.

408
00:24:08.875 --> 00:24:09.375
Why?

409
00:24:09.675 --> 00:24:12.895
Because the treasury is in charge of the United States dollar.

410
00:24:13.195 --> 00:24:13.935
That one,

411
00:24:14.280 --> 00:24:17.260
at least from their perspective, certainly makes sense.

412
00:24:17.960 --> 00:24:23.260
I wanted to make everyone aware of this. This is not something that we need to dismiss.

413
00:24:24.134 --> 00:24:27.274
I hope it dies in congress and never

414
00:24:27.735 --> 00:24:29.514
gains any kind of traction,

415
00:24:30.830 --> 00:24:31.809
but it's definitely

416
00:24:32.510 --> 00:24:35.570
something that you need to be aware of. I will be including

417
00:24:36.110 --> 00:24:38.450
a link in the show notes to the Politico,

418
00:24:39.789 --> 00:24:40.289
article.

419
00:24:43.294 --> 00:24:44.195
Yeah. Unfortunately,

420
00:24:44.495 --> 00:24:53.080
it's behind a paywall, but I will include a link to the article. I will also try and find some other information about it to include as well. So that's it.

421
00:24:54.340 --> 00:25:00.845
One final thing to go off into this year. I hope that, maybe all the politicians could go home for the holidays,

422
00:25:01.385 --> 00:25:03.645
like starting tomorrow would be great

423
00:25:04.345 --> 00:25:09.540
and stay out of our business. But that's just me. McIntosh here, his opinion. Alright.

424
00:25:10.400 --> 00:25:10.900
Let's,

425
00:25:11.360 --> 00:25:12.500
let's move on.

426
00:25:15.184 --> 00:25:16.325
It looks like

427
00:25:16.945 --> 00:25:19.684
within the hour, according to Oscar at Fountain,

428
00:25:19.985 --> 00:25:23.764
the new one point o beta build will be out.

429
00:25:24.940 --> 00:25:26.080
So I will certainly

430
00:25:26.700 --> 00:25:28
be testing things.

431
00:25:28.380 --> 00:25:31.520
Alright. Just came out hot off the press,

432
00:25:32.775 --> 00:25:35.595
but that's not what I'm looking for. Here we go.

433
00:25:36.055 --> 00:25:39.835
I'm gonna go ahead and do this right off of here. I'm not gonna pull up the spreadsheet.

434
00:25:40.535 --> 00:25:41.915
There we go. Yep.

435
00:25:43.880 --> 00:25:48.700
So when did that come in? November 27. I think this came in post

436
00:25:49.695 --> 00:25:50.755
the last episode.

437
00:25:51.295 --> 00:25:53.555
Today is Thursday. Yes. It did.

438
00:25:54.015 --> 00:25:55.155
I got a great

439
00:25:56.630 --> 00:25:57.130
boost.

440
00:25:57.909 --> 00:26:01.769
Yes. There's where I exported. I got a great boost on the 27th,

441
00:26:02.070 --> 00:26:04.490
so let me bring up the calendar. That was Monday.

442
00:26:05.115 --> 00:26:06.335
10,000 sats

443
00:26:07.435 --> 00:26:08.735
sent using Podverse.

444
00:26:09.675 --> 00:26:10.175
Awesome.

445
00:26:10.475 --> 00:26:11.375
From anonymous.

446
00:26:11.995 --> 00:26:15.159
Too many sats in my Albie Wallet after transferring

447
00:26:15.940 --> 00:26:18.200
WOS, which is Wallet of Satoshi,

448
00:26:18.900 --> 00:26:21.640
balance over. Happy Thanksgiving. Thank you very much.

449
00:26:22.375 --> 00:26:24.235
I do appreciate that anonymous

450
00:26:24.535 --> 00:26:26.315
very, very much. And

451
00:26:26.855 --> 00:26:30.395
I actually meant to mention this last week. I did not.

452
00:26:30.720 --> 00:26:32.980
Wallet of Satoshi, which is a custodial

453
00:26:33.600 --> 00:26:34.660
Bitcoin wallet,

454
00:26:35.280 --> 00:26:39.115
has pulled out of the US market. They've been removed

455
00:26:39.575 --> 00:26:40.475
from the Amazon,

456
00:26:42.695 --> 00:26:43.435
Apple and

457
00:26:44.535 --> 00:26:45.835
Google Play Store,

458
00:26:46.535 --> 00:26:47.355
App Stores,

459
00:26:48.030 --> 00:26:57.554
and they say it's because of the regulation. They say they're just not even gonna deal with it essentially. Now I don't know if they were pressured to do that. There's no telling.

460
00:26:58.414 --> 00:26:59.635
That's their story.

461
00:27:00.414 --> 00:27:03.394
If you have a wallet of Hitoshi here in the United States,

462
00:27:03.855 --> 00:27:05.955
you still have it. It's still there.

463
00:27:07.010 --> 00:27:11.110
But my suggestion would be you should probably take a hint and move your

464
00:27:11.970 --> 00:27:14.985
move your Bitcoin. So, again, I appreciate that.

465
00:27:15.545 --> 00:27:17.645
We got a boost from mere mortals.

466
00:27:18.424 --> 00:27:18.924
RODUX,

467
00:27:19.465 --> 00:27:19.965
20222.

468
00:27:21.304 --> 00:27:22.605
Enjoy your break, Macintosh.

469
00:27:23.290 --> 00:27:25.550
Merry Christmas and Happy New Year. Thanks.

470
00:27:25.930 --> 00:27:27.290
I appreciate that,

471
00:27:27.690 --> 00:27:28.750
in advance.

472
00:27:29.370 --> 00:27:33.845
Of course, I will not be on. But, Yes. Kyron, I do appreciate that.

473
00:27:34.225 --> 00:27:37.684
Merry Christmas. Happy New Years to you down there in Australia,

474
00:27:38.625 --> 00:27:39.365
as well.

475
00:27:39.905 --> 00:27:44.990
And in fact, I will go ahead and say this in case I forget it at the end because I don't have my notes.

476
00:27:45.530 --> 00:27:48.030
The same goes for all the listeners, of course.

477
00:27:49.125 --> 00:27:50.745
I hope that you have a happy,

478
00:27:52.164 --> 00:27:53.225
rest of the year.

479
00:27:53.845 --> 00:27:54.985
And finally,

480
00:27:56.164 --> 00:27:58.720
we got a boost actually earlier today,

481
00:27:59.740 --> 00:28:01.360
500 sat boost,

482
00:28:01.900 --> 00:28:02.400
anonymous.

483
00:28:02.860 --> 00:28:04.480
It doesn't say from whom.

484
00:28:05.020 --> 00:28:07.200
It doesn't say any details.

485
00:28:08.245 --> 00:28:10.105
Yeah. But that did come in today

486
00:28:11.605 --> 00:28:14.345
just a couple hours ago. So I do appreciate that.

487
00:28:14.940 --> 00:28:16.480
So very awesome.

488
00:28:17.340 --> 00:28:18.720
I appreciate that.

489
00:28:19.020 --> 00:28:21.280
Let's go ahead and jump on into the news.

490
00:28:22.465 --> 00:28:23.365
A few things.

491
00:28:23.985 --> 00:28:26.005
Peter Schiff, who's a well known

492
00:28:26.305 --> 00:28:26.965
you know,

493
00:28:27.585 --> 00:28:32.570
he's a gold bug, actually, he's very anti Bitcoin, which is very unfortunate.

494
00:28:33.990 --> 00:28:35.769
He just does not get it,

495
00:28:37.025 --> 00:28:38.005
which is fine,

496
00:28:38.945 --> 00:28:43.045
to each their own, but, he's, I would say, an Austrian.

497
00:28:44.480 --> 00:28:44.980
Anyways,

498
00:28:45.360 --> 00:28:49.540
he says that the US economy is already in recession. Through q three,

499
00:28:50.080 --> 00:28:52.260
GDP grew by 5.2%.

500
00:28:53.235 --> 00:28:54.855
So during the Q3,

501
00:28:55.555 --> 00:28:56.295
our GDP

502
00:28:57.075 --> 00:28:58.135
grew by 5.2%,

503
00:28:59.075 --> 00:29:03.620
but then government spending contributed five point 5%.

504
00:29:04.720 --> 00:29:10.500
So without government spending, which in my mind is not part of the economy, it's just

505
00:29:10.965 --> 00:29:11.865
frankly, waste,

506
00:29:13.125 --> 00:29:13.625
essentially.

507
00:29:14.565 --> 00:29:21.610
So without that spending, GDP would have contracted by 0.3 percent. Government spending borrowed money doesn't reflect

508
00:29:22.310 --> 00:29:24.970
real economic growth. It only leads to

509
00:29:25.430 --> 00:29:25.930
higher

510
00:29:26.384 --> 00:29:32.245
inflation. So because this is Twitter, there was some context added here, and this actually does make sense.

511
00:29:32.945 --> 00:29:39.840
So maybe a little bit of pushback against Peter. They said this is not correct. Government spending increased by 5.5%.

512
00:29:41.180 --> 00:29:44.215
It did not contribute. I think he meant 5.2%.

513
00:29:44.995 --> 00:29:48.375
I doubt Peter got that wrong, but either way, it's

514
00:29:48.835 --> 00:29:50.135
a a high number.

515
00:29:51.290 --> 00:29:53.150
It did not contribute 5.5%

516
00:29:53.850 --> 00:29:56.350
to GDP growth. That is correct.

517
00:29:56.810 --> 00:29:58.190
The spending grew,

518
00:29:59.065 --> 00:30:05.485
which is not good. It should be going down, not up. But that would not have in the exact same ratio

519
00:30:06.860 --> 00:30:07.360
increased

520
00:30:08.060 --> 00:30:09.200
the overall GDP,

521
00:30:09.580 --> 00:30:11.440
by the way that they calculate it.

522
00:30:12.300 --> 00:30:13.200
There was a

523
00:30:13.875 --> 00:30:15.014
tweet that I posted

524
00:30:15.554 --> 00:30:16.054
about

525
00:30:16.514 --> 00:30:17.254
the upcoming.

526
00:30:18.274 --> 00:30:19.174
I believe

527
00:30:19.794 --> 00:30:20.294
even

528
00:30:20.674 --> 00:30:23.260
unless price really rockets gets off.

529
00:30:23.560 --> 00:30:25.660
The miners are going to be hurt

530
00:30:26.200 --> 00:30:30.380
when the happening occurs because the the reward gets cut in half.

531
00:30:30.925 --> 00:30:32.945
The price does not double instantaneously

532
00:30:33.405 --> 00:30:38.625
from 1 block to the next. It does not. We see that, you know, over the months afterwards.

533
00:30:40.125 --> 00:30:40.625
But

534
00:30:41.310 --> 00:30:44.290
I just don't think that some of these miners are prepared for that.

535
00:30:45.070 --> 00:30:49.170
I do think we're gonna see some hurt. I think we could see some consolidation,

536
00:30:50.015 --> 00:30:51.155
maybe some capitulation.

537
00:30:52.255 --> 00:30:53.395
I hope I'm wrong.

538
00:30:54.015 --> 00:30:55.395
I just don't think so.

539
00:30:56.335 --> 00:31:05.880
Real quick, Germany. Germany's residential grid operators will be empowered to restrict the flow of power to heat pumps and electric vehicle chargers from 2024

540
00:31:07.165 --> 00:31:10.065
in order to preserve the stability

541
00:31:10.525 --> 00:31:11.345
of the grid.

542
00:31:11.885 --> 00:31:12.385
Right.

543
00:31:12.685 --> 00:31:14.145
Why is their grid unstable?

544
00:31:14.809 --> 00:31:19.149
Because they're not building and turning on nuclear power plants and they're not building

545
00:31:19.450 --> 00:31:23.415
natural gas facilities that they need and this kind of thing. Because,

546
00:31:23.795 --> 00:31:24.355
you know

547
00:31:25.235 --> 00:31:25.735
well,

548
00:31:26.035 --> 00:31:27.095
I I don't know.

549
00:31:27.635 --> 00:31:31.575
Actually, I don't know. I don't understand it, but that's what it is.

550
00:31:31.990 --> 00:31:33.929
I've been reporting on,

551
00:31:34.630 --> 00:31:38.730
Germany who, by the way, is now officially in recession for over a year,

552
00:31:39.325 --> 00:31:47.025
and I I've it's sad. It's a beautiful country. It's a great country, and it's the economic powerhouse of the EU,

553
00:31:47.350 --> 00:31:49.289
and they're shooting themselves in the foot.

554
00:31:50.230 --> 00:31:57.945
And that's it for for the news. So I'm going to go through my ending spiel here without my notes, this may be fun,

555
00:31:58.325 --> 00:31:59.544
but Generation Bitcoin,

556
00:32:00.164 --> 00:32:01.465
soon to be the Potashiplebs

557
00:32:02.164 --> 00:32:02.664
podcast,

558
00:32:03.525 --> 00:32:05.465
is a value for value

559
00:32:06 --> 00:32:06.500
show.

560
00:32:07.520 --> 00:32:11.460
You know, I completely depend on supporters like anonymous,

561
00:32:11.760 --> 00:32:13.220
like Kyron at Mere Mortals

562
00:32:13.760 --> 00:32:17.035
to, you know, to support the show in a in a

563
00:32:17.495 --> 00:32:25.340
direct way with treasure with you know, in value for value lingo, so to speak, there's 3 things. There's time, there's talent, there's treasure.

564
00:32:26.039 --> 00:32:29.500
Treasure sat streaming from a podcasting two point o app,

565
00:32:30.039 --> 00:32:37.175
which you can go to new podcast apps dot come and check that out. Try out the new fountain 1 point o when it comes out. Try,

566
00:32:38.515 --> 00:32:46.960
you know, podcast guru or whatever. There's a whole list of them there, and they will allow you to directly interact with these podcast 2 point o

567
00:32:47.260 --> 00:32:48.880
podcast like mine.

568
00:32:50.115 --> 00:32:52.455
You'll see chapter art, you'll see,

569
00:32:53.554 --> 00:32:54.054
boost,

570
00:32:55.075 --> 00:32:58.615
all of this kind of stuff that's getting turned on,

571
00:32:59.640 --> 00:33:00.140
transcripts,

572
00:33:00.680 --> 00:33:02.600
those kind of things. So,

573
00:33:03.560 --> 00:33:05.500
I'm gonna be off for the next month.

574
00:33:05.880 --> 00:33:06.380
Essentially,

575
00:33:06.680 --> 00:33:18.659
I will be busy building things to make this better when I come back as Toshi's plebs. So I really appreciate everybody's support this year. Please continue to spread the news. I will do what I

576
00:33:19.039 --> 00:33:19.940
can in January

577
00:33:20.240 --> 00:33:21.460
to promote things,

578
00:33:21.840 --> 00:33:25.745
because the name will change. You will not have to update your streams or whatever.

579
00:33:26.145 --> 00:33:27.285
That should be automatic.

580
00:33:28.145 --> 00:33:28.465
But,

581
00:33:29.184 --> 00:33:33.205
looking forward to it. You all have a great rest of your year.

582
00:33:33.870 --> 00:33:35.090
Have a Merry Christmas,

583
00:33:35.390 --> 00:33:36.290
happy holidays,

584
00:33:37.070 --> 00:33:43.455
happy New Year, all of that kind of stuff. I really, really appreciate it. I will talk to y'all soon.

585
00:33:44.075 --> 00:33:44.895
That's it.