[00:00:00] McIntosh:

Welcome back to Stoshies Plebs for episode 234. I’m McIntosh.

[00:00:05] Kenshin:

I am Kenshin. And in today’s episode, we are thankful about Bitcoin.

[00:00:11] McIntosh:

Man, Kenshin. I just had some deja vu. Haven’t we done this before? Yeah. But shouldn’t we always be thankful? Yeah. Well, we should be thankful every week. Thank you very much for setting me up for that. But I I think it’s going to become a tradition. This is our second time doing this, here on the Satoshis Club show of taking the week of Thanksgiving here in The United States. I’m gonna be US centric. I’m sorry. If your country celebrates Thanksgiving, that’s I would actually like to know. You guys do not. Right, Kinsha?

We’re celebrating, discounts. Bays go back and listen to that if you wanna know what I’m talking about. Yeah. Alright. It was it was episode

[00:01:53] Kenshin:

one eighty six. Right?

[00:01:55] McIntosh:

Yeah. That’s that sounds right. I’ve looked at that number a number of times. I believe that’s correct. But last November, it’s called Thankful About Bitcoin. We are at Block Height 925. I’m actually gonna bring this up and check this in real time because we might be a little off. 92515 Niner. We didn’t quite make it to 160.

So 925159. Kenshin, what is going on with you? You’ve got quotes around one of your words. I’m excited to hear about this.

[00:02:26] Kenshin:

Yeah. I I bought a, quote, new, end quote, laptop. So so what I bought is a used laptop. That’s why, I mean, it’s new to me. Okay. It’s a used laptop. It has an Exa Core I seven processor. So

[00:02:48] McIntosh:

12 threads. That’s pretty spiffy, isn’t it? Like, I nine is like the latest. I i7, i7. Right, no I but yeah.

[00:02:57] Kenshin:

Quite good. Six core, 12 threads, 32 gigabytes of RAM. It even has a Nvidia Quadro graphic card. A p 2,000 with four gigabytes of RAM dedicated to That’s pretty sweet.

That’s really good. I mean, for in my home lab server, I have a p 1,000 to do Plex and other stuff. Mhmm. And it’s it’s quite good for that. So the P 2000 is I’m really excited just for the the coordinates.

[00:03:30] McIntosh:

The the question that everyone wants to know though, Kenshin, is what distro did you load on this laptop?

[00:03:37] Kenshin:

Well, I just got it today, but I will load Omachi because that’s that’s my favorite nowadays. Omachi is a one that’s

[00:03:49] McIntosh:

DHT basically a script, right, that sets everything up?

[00:03:53] Kenshin:

Am I thinking of it? Yeah. It it yeah. It started like that. So now now they have an ISO that you can download and install it. Okay. And it’s based on Arch Linux. Right? If I’m remembering. Arch is the base, but just the base. The graphical interface, it’s the Hyperland.

[00:04:12] McIntosh:

Yes. Yes. The win yep. The Tiling Manager base. That is the one I’m thinking of. I’ve never tried that. I don’t really have any interest in it, to be honest, but I bet you’ll I bet you will like it. No. I just gonna go out and run them there.

[00:04:26] Kenshin:

Yeah. That’s what I’m running on my desktop now. So I’m cool. I’m looking for it. So this laptop is more powerful than this desktop I’m using now. So that’s why I’m so excited. And once I get an actual newer laptop, in a few months that I’m planning, I will put that as my server. So I want to replace my whole I have a one U rack server in my home.

So I want to replace that with that laptop because it’s more more than enough to run my Plex media server and other other processes in there. Sweet. Well How how much you would you pay for something like that for this type of project? Idea. I’d I don’t

[00:05:08] McIntosh:

I’ve not kept up with used hardware prices. To be honest, I think things have gotten cheaper. I mean, is that true?

[00:05:17] Kenshin:

Well, I I I wouldn’t say that, but I got this for, I would say, around a $150.

[00:05:25] McIntosh:

I would say that’s cheaper than maybe Yeah. I mean, that’s a very useful laptop. Right? As you said, I mean, it’s even got an NVIDIA card in it, essentially. And for a $150 Yeah. I think five years ago, you would not have been able to touch that level of relative level of performance. No. Correct. That’s right. For for a $150.

That’s what I’m getting at. Yeah. Okay. Very cool.

[00:05:53] Kenshin:

Yeah. So that’s my news.

[00:05:56] McIntosh:

Well, I did a thing, this week. I have talked about this. I’ve probably brought it up here on the show. I know you and I have certainly been talking about it. I have officially moved to my Linux. I call it my server because it really kind of is. It’s a it’s like a one liter PC. Yeah. It’s a little AMD server, which I’ve had for a while, and I used to run you know, I’ve run a bun two on it for ever since I’ve said well, I did experiment with NextOS, and that went sideways. So I put Ubuntu on it, which is what I’m super familiar with because of work.

I’ve set up KDE on it, which is a graphical interface.

[00:06:42] Kenshin:

It actually So you’re so I’m sorry. So you don’t have Ubuntu. You have Kubuntu?

[00:06:48] McIntosh:

No. Actually, I have Ubuntu Studio just to make it even more complicated. So that’s like the version that’s set up for audio and video production type things. And and, really, in the end, it doesn’t matter. It’s all Ubuntu under the engine, under the hood. Yep. But now because my laptop is actually, I have a little Mac laptop that I have been recording on very consistently for a long time.

It’s having problems, and I gotta send it in for service. And I’ve been wanting to get off of it anyways. Well, I just kinda took the plunge. We have we’re we’re recording on Audacity. I’m waving to Kenshin on my new little camera, which I needed not only for this so we can see each other, but I also need it for seed signer, which was another thing I wanted to tie into all this. So when I’m generating transactions, I can, with Sparrow and seed signer, I can use that camera, to to do what needs to be done there. And let’s see what else. I I mean, I’ve got Audacity. I’ve started experimenting with our door. I think I said that correctly, which is a what they would call a DAW, a digital audio workstation.

Meaning it’s it’s the editor that I use when we put together the show. I’ve got the basics down. I hope enough to get this week’s episode out without too much trouble. And, you know, we’ll build from there. But I to be honest, I’m really happy with it, so far. I I have it set up on a much bigger screen, which I am very thankful for. Speaking of things to be thankful for, this screen, lets me lay out multiple windows and have everything available, something I can’t really do on my Mac. Yes. I can plug this screen into my Mac, but this is more permanent. That’s it. That’s what I got.

[00:08:58] Kenshin:

Cool. I have the same desktop, like this one liter PC, AMD base. Yeah. They’re quite Mine is a,

[00:09:07] McIntosh:

a b link. Now I take turn this into, like, a hardware Linux show, but I really like this thing. I am actually starting to think about maybe down the road, maybe upgrading it or getting a new one or whatever. But to be honest, this thing’s been very, very nice to me, and it’s decently expandable. I think I’ve stuck 64 gigs of RAM in it and two different, SSD drives. So it’s got, like, room for a decent amount of space. I mean, I I run the core, well, I actually run knots. I run the Bitcoin.

Bitcoin what is it called, Kenshin? I’m man, I’m having a moment. Bitcoin node? Yeah. Node. Sorry. Wow. What would I do without you? A Bitcoin node. Yes. It’s it’s running core, but yeah. I mean, that takes up almost a a terabyte of space. It’s 800 gigs now.

[00:10:10] Kenshin:

Yeah. 800. Right. With all the surrounding infrastructure. Yeah. It’s a lot. More than that. It’s like 800 gigs of data now. Okay.

[00:10:20] McIntosh:

Well alright. So the topic this week is what are we thankful for? Do you wanna run through what we were thankful for last year? Or they can go back and listen to that.

[00:10:31] Kenshin:

I mean, last year, I can’t go through really fast. My list from last year, I was thankful for Bitcoin that was working as expected. I was thankful for the bull market at the time.

[00:10:46] McIntosh:

At the time. Yeah. We’ll get to that. Yeah.

[00:10:52] Kenshin:

Bitcoin proving doubters wrong and demonstrating how how a free market works.

[00:10:59] McIntosh:

Hey. It’s only been doing that since what? 2009? ‘10? Yeah. ‘10, actually. Yeah. Anyways

[00:11:08] Kenshin:

And then I said something about The US and other countries starting to embrace Bitcoin politically.

[00:11:14] McIntosh:

Mhmm.

[00:11:16] Kenshin:

Increased mainstream adoption, Bitcoin bringing people together and creating new friendships, Bitcoin as an escape and as a hobby, and Bitcoin teaches, me more about the economics and inflation stuff.

[00:11:37] McIntosh:

That is true. And I was thankful for our podcast listeners, not to be sappy, but, Kenshin, the ongoing bull market, and it I literally said something about expecting it through the 2025. We’ll probably talk about that a little bit when we get to the market. Regulatory clarity coming with the Trump administration.

[00:12:00] Kenshin:

That has The expectation.

[00:12:05] McIntosh:

The end of the regulatory gray zone in The United States, the end of unbanking practices in crypto against crypto businesses, that all three of those kinda tie together. And I would argue that there’s a lot of truth to that. That has been something that there’s a lot of things I disagree with the Trump administration on.

Some of them very deeply, frankly, but those three, I believe, are are things that he promised and that he has for the vast majority delivered. Okay? Gary Gensler resigning January 20. That was of last year. And, yes, I am thankful for that still. Bitcoin. I’m going to read this exactly as Claude Yeah. Wrote this out, and then you’re gonna have to go back and listen to the episode, to actually kinda get the full story. Bitcoin providing enlightenment versus the depression of accepting fiat status quo. That does not sound like it was written by AI. I don’t know what is. We did look it up, and, yes, we said something along those lines, but I will leave it to you, dear listener, to go back and listen to the full story if you are interested. Success stories like the single mother who has saved significantly through Bitcoin. I don’t recall the exact story, but, yes, that was I love hearing those kind of stories.

Mhmm. So that’s where we were last year in a nutshell. Mac Macintosh. I’m Macintosh. You’re Kenshin. Congratulations. We’re stuck with we thankful for this year, Kenshin? Why don’t you

[00:13:49] Kenshin:

start things off? Yeah. I I can start where I left off last year saying that I I learn even more, through Bitcoin about economics and good fundamentals because I was actually educated in economics in university But I realized quite soon when once I got into Bitcoin that I I was educated in fiat economics. And and that made me understand even better how wrong the system is because I went through it. Right?

[00:14:30] McIntosh:

Not to get sidetracked, but did you feel like there was anything wrong when you were in college learning this stuff? I could imagine the kind of things

[00:14:39] Kenshin:

you were learning. No. No. No. Actually. I mean, I I understood and it made sense. I mean, it’s it’s made sense in a way that, for example you need to get advantage of of house loans that I understood early on and and from the courses and all this and yeah it’s not something that you it’s normal to say that you need to get into debt and and get a mortgage but it’s it’s the smart decision to do right in the fiat world right?

So now

[00:15:21] McIntosh:

we realize The house is an asset that inflates.

[00:15:24] Kenshin:

Yeah. It’s an asset and it inflates in, yeah. And those loans actually have a lower, lower interest compared to inflation. So in that, in those terms, it makes a lot of sense. So that, that had stuck with me for years and I was very eager to get a house and get a mortgage and all of this. And, yeah, of course I’m grateful to have a house and everything, but, but when I’m talking to other people, it’s like, Oh, I don’t want to get into debt. And I was thinking, but it’s a smart thing to do, you know? And now with Bitcoin, of course, I realize, yeah, how inflation works even better. And, yeah, the debt society that we have built around us to, to keep, keep this world running and keep the inflation working, that system.

Yeah. So Very cool. Quite quite thankful to keep going down that rabbit hole.

[00:16:27] McIntosh:

I don’t wanna put you on the spot, but I’m going to. Yeah. Do you have a recommendation or maybe the last economic book that you read that might be helpful for listeners?

[00:16:40] Kenshin:

Actually, the last one I read that I really liked Mhmm. And it’s not Bitcoin related, but it’s, let’s call it a more gold standard or, kind of Austrian economy, you know, hard asset, type of book is the, Rich Dad Poor Dad. The first book I read that recently and I, I thought and that Robert Kiyosaki. Yes. Robert Kiyosaki.

Really fun to read, and it has some some, fundamentals, gold standard fundamentals because when he was growing up, he was growing up, in the sixties. Right. And his father told him the hard asset fundamentals. His father basically said that if we go away from the gold standard then, yeah, the economy will be in a very bad situation. Right. Right. So it it had very nice messages in there and you can, yeah. You know? Some nice ideas.

[00:17:53] McIntosh:

I probably read that book in the nineties.

[00:17:56] Kenshin:

Yeah. It’s an old book. Yeah.

[00:17:58] McIntosh:

I because of because of a business that I was in.

And it I think that’s one of the books that I would say has kinda made a difference in my life. I didn’t really figure everything out. I mean, it’s not like because of that book, all the lights went on. But yeah. Robert Kiyosaki is a his financial books, which he has a number of them, by and large are are high quality. Now he lives in a fiat world. He talks about real estate a lot, this kind of thing, but it’s it’s very sound in principle. Does that make sense, at least to me?

[00:18:42] Kenshin:

And she has Bitcoin. He’s talking about Bitcoin. He likes He bought he bought Bitcoin,

[00:18:47] McIntosh:

a while ago.

And he’s been open about that. Mhmm. Yeah. Very good. Very good. Thanks for the book recommendation. I actually have one of his books on my Christmas list. It’s not that one. It’s an I don’t know offhand which one it is. I’d had to look it up. But, yeah. Good stuff. Alright. I’m gonna go next. And, last year, I had, whatever his name was, Ken Griffey junior. What was it? Get Gensler. Gary Gensler. Where did I get Ken Griffey junior from? Good lord. Gary Gensler. This year, I’m gonna be thankful when Jerome Powell ends his term in the spring. It’s not happened yet. He’s not going to resign, apparently, but he will be his term will be up. And I don’t think he’s done a good job.

I don’t. Just like Gensler, I don’t think he’s done a good job. I know it’s a political office, and there’s a lot of stuff going on there as well, but we’re in this fiat world. And right now, our rates are up too high for what the economy is doing, in my opinion. So putting on kind of my fiat glasses, I just think we’re in a bad place right now in terms of that. So I’ll be glad when he’s gone and they have somebody else in there who will, I hope, do a little better. Alright. What about your next one there?

[00:20:18] Kenshin:

Well, my next one is, about Bitcoin reacting, instantly to global news and, events.

Well Okay. This year has reacted, of course, usually going down because the news have been bad. But but it’s an it’s amazing to see, like, in a weekend, something that trumps us or the administration that come up with a a plan that is a a great plan and then Bitcoin dumps and then it’s like, oh, okay. Well, that’s the most magnificent plan ever. We’re gonna tariff China a 100100%.

[00:20:58] McIntosh:

Yeah. Sorry.

[00:21:00] Kenshin:

So at least it it still works, as it should be in in those in those terms. And, Yeah. It’s good to see. And Can you imagine if the stock market were twenty four seven and it reacted like Bitcoin did?

[00:21:15] McIntosh:

Yeah. People would be freaked out because a lot of times I I don’t know if you’ve noticed this, but announcements will be made late Friday.

Yeah. When the stock market just closed. Exactly. Or very close to it. And it will give them the weekend to kinda digest the news and maybe come out and make another statement or whatever. But Bitcoin, on the other hand, says, whoop, that’s not good. But you know? Yeah. Because people flee to it, as a liquidity reserve, essentially.

[00:21:49] Kenshin:

Yeah. Exactly.

[00:21:51] McIntosh:

Because there’s nothing else they can do. They can’t sell their other stock, not on the weekend.

[00:21:58] Kenshin:

Interesting. So so last last year, it was reacting to positive news in a positive way. This year, it’s reacting to negative news in a negative way. I would say that, you know,

[00:22:09] McIntosh:

one month and three weeks ago no. Two weeks ago, we were in an all time high in Bitcoin. How quickly you forget.

Yeah. We have essentially gone up all year until October 26. No. October 6. Sorry.

[00:22:25] Kenshin:

Yeah. Yeah. I’m just remembering the big negative events. Like, the They’re in there. They’re in there. Tariffs. Mhmm. Yeah. A a lot of them involving tariffs. Yeah.

[00:22:35] McIntosh:

$200,000,000,000 to The US, though, this year. I don’t know. It’s a crazy, crazy world we live in. Why can’t we all just getting along, Ken, Shane? Like, is there, like, a song like that? Imagine is it imagine? Maybe it is. John Lennon’s song. Imagine all the people. Okay. I’ll stop. Yeah.

Yeah.

[00:22:58] Kenshin:

Alright. Ask me about this.

[00:23:00] McIntosh:

Look. This was on my list last year, and I know this sounds cliche, but I I am thankful for our listeners. Whether you’re brand new, whether you’ve been around for months and months, and you’re an old timer, it doesn’t matter. I appreciate you. I appreciate you listening, taking your valuable time to listen to this podcast. And the ramblings of one, I was gonna say one old man. I don’t wanna call myself an old man, but, you know, the my ramblings and Kenshin’s sharp thoughts. Yeah.

You know, that this is why we do this is is to provide you all information. And if you weren’t here, we wouldn’t there there’d be nothing for us to do. So I really do appreciate that Each and every year. See, that one was easy.

[00:23:56] Kenshin:

Yeah. That was good. Well, I have one that I’m thankful for Bitcoin because it involves us in cool tech. Okay. We get some deep dives like, we start to learn about quantum computing. Right. Which even though it’s supposed to be a threat for Bitcoin, it’s still quite exciting to to understand how it works. We have, yeah, nice new apps to try new technologies.

Cashew. I didn’t know Cashew before. I think it when did it come out? But for sure, I I I think it’s been more than a year, but it it wasn’t very

[00:24:38] McIntosh:

well known prior to the last year. So yeah. Yeah. And Yeah. And I would kind of I know we have talked about Noster Yeah. Prior to a year ago, but I would kinda lump Noster in in that as well and that it’s certainly become more well known this year. And, there has been I mean, talking about amazing tech, there’s some really interesting things going on in Nostra in the Nostra protocol.

[00:25:06] Kenshin:

So Yeah. Yeah. It keeps it’s it’s a protocol. Right? So you see all the nice things people can build on on that protocol, not only the Twitter clones. Right.

[00:25:20] McIntosh:

So That is not the end of Nostr, just something that looks like Twitter. There’s a lot of long form, that you could do image generation stuff. It’s interesting because that doesn’t really seem to have taken off, but not image gen like an Instagram clone, essentially.

[00:25:38] Kenshin:

Right? That all last yeah. That didn’t take off. But But, like, market marketplaces? Oh, yeah. That’s cool to see. Decentralized marketplaces. I mean, we’d never had this before. I know that Fountain is experimenting

[00:25:52] McIntosh:

with using Nostr for messages, like boost, that kind of thing.

I don’t know how well that’s been taken up or if it’s going to be taken up by the other, podcast two point o clients. But what it does, it would allow an interoperable spec really that should be quite rich in its capabilities in terms of the the messaging, the boosting on podcasting two point o.

[00:26:21] Kenshin:

Yeah. Yeah. I think it’s fully an also based fountain. I still I still don’t like actually fountain as a as a player.

[00:26:31] McIntosh:

It’s I use two different ones. I use fountain, and, honestly, I probably use it more than anything else, but I also use Podcast Guru. I really like it.

[00:26:41] Kenshin:

Yeah. That’s my main one also. Yep. I could see that.

[00:26:46] McIntosh:

Yeah. Yep. Okay. You’re next one? I think I’m next. This may shock everyone. I hope you’re sitting down as you hear this. I am thankful for my job.

[00:26:56] Kenshin:

Can’t wait to hear that.

[00:26:58] McIntosh:

I know I get on here probably, frankly, more than I should. It’s difficult not to though even this week, and I just made a point to actually not say anything. I’ve had a rough twenty four hours, frankly. It’s just more stuff going on. And I don’t know ultimately where all this is going, but, you know, the job provides, a couple of things. There are many times when it does actually provide intellectual stimulation for me in terms of programming.

But, it certainly provides for my family. You know? I I don’t know where we would be if I didn’t have it. And I don’t know where I’m going in the next year. I don’t I don’t. I don’t know. But but I am thankful for it. I I really kinda just wanted to say that publicly. You know? And I’ll try this year. This will be one of my New Year’s resolutions to to not be so, negative about my job. Right?

[00:28:03] Kenshin:

Right.

[00:28:04] McIntosh:

Alright. What do you got?

[00:28:06] Kenshin:

Well, I I mean, I I was thinking about your point. It’s, yeah. I’m still negative about my job. I just ignore it now.

[00:28:16] McIntosh:

It you know?

[00:28:18] Kenshin:

It’s okay. Yeah. No. It’s okay. We don’t have to go down that path. Yeah. No. My next one is, Bitcoin as usual. It’s forcing me to think long term and about the future, low time preference as we say. I I find it very motivational.

[00:28:44] McIntosh:

You mean I can’t make a million dollars this week in Bitcoin? I’m shocked. Sorry.

[00:28:53] Kenshin:

Yeah. Yes. Exactly. So it’s it’s, no. Yeah. It’s, it’s difficult to plan. Right? I used to say I cannot make a plan five years ahead because every time I have done it, it after five years, things have changed from drastically in one way or another. Right. Through throughout my lifetime.

But with with Bitcoin, it’s it’s something that I don’t see changing that drastically. It’s like you can rely on it and you can plan ahead. Is is I I haven’t got into the mindset to cash out or something like that. You know? I see it very long term. Right. So Right. And that that’s a new mindset I that I never had until Bitcoin. It’s not easy to think that that far ahead. And in some ways, I even think I so far ahead when I’m not alive anymore. And I’m thinking about my my son’s future and my, you know,

[00:30:04] McIntosh:

grand grandkid’s future in a way.

[00:30:08] Kenshin:

So

[00:30:09] McIntosh:

yeah. Okay.

Very good. I like that one. That might be the best one we’ve got. I’m gonna try, though, and top it. A world that What what what do I win? I don’t know. One Satoshi. Yeah. A world that is waking up to the possibilities of Bitcoin as a neutral global reserve currency, which is all that’s a mouthful, but here’s what I see. You can say countries shouldn’t be involved in Bitcoin, blah blah blah. It’s for people. It’s for this. I would argue it’s for your enemies. It’s as well as you. That’s what makes it neutral. It’s for The United States as well as Russia and China and any other people that they may call enemies, essentially.

It is for the poor. It is for the rich. It is for everyone. And what it does is I hope to God long term that if Bitcoin becomes a global reserve currency, replacing the US dollar, replacing whatever junk the BRICS nations come up with, anything like that, there will be less, I hope there will be less violence in as an end result in the world. You know, I’m not gonna run around and say Bitcoin fixes this. Bitcoin fixes everything, But I do think it’s a step in the right direction. I believe you can trace very effectively, and very accurately that the fact that The United States since really since, the Bretton Woods agreements and certainly cemented by the Petro, dollar deal that was made with the Middle East countries has made the the the dollar The US global reserve currency, and that’s placed us in an unfair position. And it’s, I don’t wanna say forced, but it’s pushed us in directions that are not good in terms of a country.

So I am thankful that that is even a possibility even though it’s not a reality today. And that is one of my big pushes is is you know? I want to see countries have secure, what do they call it? SBR strategic Bitcoin reserves. Yeah. I want to see there was a bank in, a bank, a well, a central bank in, was it Luxembourg? It was one of the countries in Europe, one of the tiny countries up there, and I apologize if it’s not Luxembourg. But they made their first purchase of Bitcoin basically for an SBR. And that just happened in the last couple weeks. I wanna see all the countries doing that. I wanna see countries conducting trade in Bitcoin just like Russia and China are right now, ladies and gentlemen. They’ve announced that. I think that’s terrific.

I’d rather they do that than trading Yuan or the ruble Yeah. Or the dollar. Yeah.

[00:33:27] Kenshin:

It’s amazing we have this possibility now with Bitcoin or the world has this possibility. Yeah.

[00:33:35] McIntosh:

You’re updating things.

[00:33:37] Kenshin:

Yeah. I just remembered one. Okay. Have you heard of bush the Bushido

[00:33:44] McIntosh:

of Bitcoin? I have heard of it. I have not read it. It is a book. Correct? It is a book. Yeah. But it’s a book that wants

[00:33:55] Kenshin:

to emphasize the philosophy of becoming a better person. So it’s from Alexander Alexander Svetsky. I haven’t finished it yet. I have started it. The thesis is, what if we have a world of, Bitcoiners.

Mhmm. So Bitcoin is, yeah, is is what we use and and the Bitcoiners are or people in power, let’s say, you know. Right. What attributes do you need to be a good human Right. As a Bitcoiner controlling the world, basically. Right? Right. So he goes through, attributes, that are, a good human should have, basically. And he looks through history and the samurai culture and some other cultures and puts it together. And it’s a really nice perspective. It’s again, forward thinking in the future and how to be a better human and leave this world a better place while using Bitcoin,

[00:35:09] McIntosh:

basically. I have heard, I think, two different interviews of him. I have not read the book.

If you’re gonna recommend it, then maybe I need to pick up a copy.

[00:35:20] Kenshin:

Yeah. I do. Not affiliated. We don’t get anything from it.

[00:35:25] McIntosh:

But I I think Unfortunately, we get squat, but that’s that’s okay.

[00:35:30] Kenshin:

Alright. Yeah.

[00:35:31] McIntosh:

And I I have for my last one, I am I am. I I don’t think I said this last year. Well, I didn’t say anything like this last year. I am thankful for my local Bitcoin meetup group. I would encourage you strongly. If you have one near you, you should go. It is good to be around fellow Bitcoiners. We don’t always agree. Our group tends to have, I don’t know, Monero people show up, which is never fun, because they wanna talk about stuff that’s it’s just not even relevant to me. I mean, well yeah. Or ETH people or whatever.

But I’ve been going to this group now for a couple of years, and, we have a consistent core group. And we meet and we talk. You know, are there things I could I would do differently? Maybe. But I’m not running the group for sure. And, you know, it’s a great great meetup. I would love to see more regional just to expand on this if you’ll allow me. I don’t know quite how to describe it. I don’t think I’ve talked about this before. It’s a fairly recent idea of mine. I’m not a fan of the big Bitcoin conferences. I went. I came. I saw I I’m not I didn’t say I conquered, but, you know, I came and I saw, and I left. And I’m not disappointed that I went, but I don’t think I’ll be going to say Bitcoin $20.26, because it’s just not my cup of tea.

But what I would like to see is kind of a almost like an unconference where it’s not a big commercial event. The numbers on those conferences are staggering that the Bitcoin company just released because they are a public company, I guess, some of their figures. And it was like it for the year, it was like, I wanna say $88,000,000. I mean, I was just shocked how much it was. I and I think, frankly, that taints things. I don’t wanna be I just I’m just gonna say that. Okay? I think we see that at the conference with all the people who go there with the different people who were allowed to speak and so on and so forth.

[00:38:00] Kenshin:

I would love like everybody

[00:38:01] McIntosh:

has a personal agenda. Right? Yeah. It feels like paid money to be there, you know, to to talk, to, you know, whatever. I would like to see local things, and not just like an Austin type meetup where it’s super techie. I would like to see more general Bitcoin. You know, there it’s good to talk about stuff, but, you know, we can’t we can’t be super technical about a lot of stuff and and appeal to a a wide range of people either. You know? We can’t talk about code changes or whatever. You’ll leave a lot of people out. I would love to see those in more regional type. You know? Hey. We do this maybe quarterly or I don’t know. I don’t know.

But just as an outgrowth with these local Bitcoin meetups, which I feel like that they’re super I think they’re super powerful, really. I don’t know. Anyways, maybe I’ll cut all that out because No. It’s it’s good. No. Whatever. Like

[00:39:07] Kenshin:

and there is in Europe also a few of them. Like, there is this Riga. Yes. That’s, I don’t remember the name of it in Riga. But, anyway, there are a few nice ones.

[00:39:19] McIntosh:

I haven’t gone yet, but I really want to go to the city. I have heard of that one, and I would love to go to the one in Riga. The only one I know of, say, TabConf Atlanta. I think it is. I think this is it.

The TabConf in Atlanta, Georgia, but it’s more technical. And it’s a thing. I mean, they’ve got tickets and whatever, but it is definitely it’s more signal than all the fluff. Right? Their sponsors are people like, CleanSpark, which is a miner. I’m I’m not super thrilled about that, but at least they’re Bitcoin minor. HRF, I don’t know. LightSpark is on here. Anduro, FETI. A lot of these are are pretty Bitcoin, very, very focused type things. SetDev, a premier Bitcoin engineering firm. Anyways, I don’t even want something that commercial. I’m really thinking more I mean, unfortunately, things cost money, but, you know, I don’t know. I don’t know. I really don’t.

It’s just stuff rolling through my head, especially when I hear that, you know, the Bitcoin magazine company, whatever their name is, they’re bringing in almost a $100,000,000 in a year. It’s like

[00:40:57] Kenshin:

I don’t know. That sounds yeah. That’s crazy. Become a a business instead of a mission. Exactly.

[00:41:04] McIntosh:

I I have that fear, and I see that. I believe in kind of their content output. Now you may have a different opinion. I think you and I have the same opinion, but I’m just mean to our listeners. You know? And that’s fine, but I just want something more grassroots. I think that’s a good word. Right.

Okay? Is that it? That’s it. That’s everything we’re thankful for this year. Ladies and gentlemen, thank you. Good night. Alright. God bless. Sorry. That is actually it, though, for that part. Do we have a question? Is it what are you thankful for?

[00:41:43] Kenshin:

Yeah. Yeah. We would like to hear the audience. We’d love to hear that. Yeah. If you’re thankful about Bitcoin in some way that is unique or, interesting or, yeah, personal in some capacity.

[00:42:01] McIntosh:

Okay. Very good. We’re gonna move on now. We’ve got you’ve got something here. Is that correct? You put this in here? It’s probably Yeah. I put something. It’s more price related or

[00:42:13] Kenshin:

trend related. Yeah.

So if we go into the prices, I just found this post. Someone posted on, on on Twitter or X and then someone reposted this on on Oster, that more than 8% of all Bitcoin moved in the last seven days. And the last two times this happened, it was March 2020 and in December 2018.

[00:42:45] McIntosh:

Yeah. And I’m not sure really what this means. We’ve obviously seen a significant drawdown and a lot of activity on the network. It is possible that we have reached this bottom anyways. We got down into the upper 80 threes, I think. So, like, basically, 84,000, and we rebounded from there.

I think we got up to, I wanna say, 88, but we’re back down to just below 87 right now. But still, that’s even that. No. Actually, we’re above 87 at this point. But, you know, we’re $34,000 above where it bottomed out, so to speak. We will see where it goes from here. Mhmm. We will but, man

[00:43:40] Kenshin:

I am not so surprised also because we have the ETFs. We have, you know, all these Wall Street. Right. Those those people are used to just sell and buy the assets over and over again. So, it’s okay, I think. And it the network works. I mean, 8% moved in the last seven days and, we will talk about the fees.

Yeah. There’s nothing changed, basically. You can barely see any difference in the blockchain. So it has more than enough capacity to do that. So I I see I see it as a good thing. Mhmm. And when those events happened in the past, actually, Bitcoin went, went went, higher in the next, few months. So this is not a bad pattern in that way. It’s just change of hands.

[00:44:34] McIntosh:

I’m gonna go ahead and say, I get in trouble for doing stuff like this. I believe well, basically, we drew down about 33% from our all time high. And if you look back at the bull Bitcoin charts, during bull runs, we have had certainly 30% drawdowns multiple times over the years.

It every bull run has had at least a 30% drawdown. So we’ve not broken some magical barrier that means we’re going down, down, down from here. I depending on the next few days, we’ll see where we go from here, but I believe what we’re gonna do is slowly grind back up. Now I think if if my thesis is correct, we’re gonna grind back up, and we’re gonna challenge the all time high, and then we’ll see what happens. If we break it, you know, we’re we’re back in a in a run, so to speak. If we don’t, then, yeah, that lends a lot more credence to your thesis that October 26 sorry. I keep saying the twenty sixth for some reason.

October 6 was the all time high, and we are now, you you know, in the bear market, so to speak.

[00:45:59] Kenshin:

You sound like Jack Melders.

[00:46:03] McIntosh:

No. Jack would be saying it’s 200 k by Christmas.

[00:46:07] Kenshin:

Yeah. Yeah. But maybe I I think he has some valid points, though. He does. Yeah. But at the same time, he says he said in the last podcast, he said, last time this happened, it was FTX. And I’m thinking, and what happened when FTX happened? Yeah. We entered the the Right. Market. So he spins everything in a positive way Yes. Which is really good. I have nothing against that, but I think it’s, it’s okay to be realistic and follow some patterns sometimes.

Well, just me. We follow patterns.

[00:46:49] McIntosh:

I would have liked it to stay above 90. That would have indicated more strength, but the fact that it hasn’t broken 80 80 is when it flips 80, I’m gonna be super bearish. I am. Yeah. That’s that’s what’s gonna turn me.

[00:47:07] Kenshin:

Yeah. And if we are truly in a bear market, I mean, fair game is all the way down to 70.

[00:47:15] McIntosh:

Right. Right? So So we’re almost there at that point, which is crazy. Yeah. I don’t know. I think things are going to change, and I think they’re gonna do it in ways that people don’t expect. I don’t think we’re gonna have a super cycle, but I I think we’re gonna have a different four year cycle.

I may be wrong.

[00:47:38] Kenshin:

I think everybody’s, underestimating the power of human psychology. Yeah, exactly. Because everybody, unconsciously or consciously, or however they synchronize. And right now everybody’s synchronized to sell it because they think it’s time to sell it because it is a four year cycle or whatever other reason. And that’s how bear markets are stored. I think it’s, it’s, it’s that powerful. Those limits and those numbers that people are so stuck on, they’re very powerful and we, we make it happen basically with our behavior. Right? So I think I think, yeah, it’s it’s possible to go any direction, but I I just believe in patterns at this point.

[00:48:38] McIntosh:

You believe in patterns until they don’t work? Yeah. Just like for your cycle. Unfortunately, they still work. I believe in the four year cycle until there’s not one.

[00:48:49] Kenshin:

Yeah. And And it remains to be seen. And I I will add I really like Jack and I really, really believe what he says and everything that he’s talking about is just a year away. Everything that he’s talking about, it just needs a year to play out. Maybe. Because it’s all these things that he’s talking about, it it cannot just happen tomorrow because they’re just playing out right now. And all the weaknesses that we’re going through are right now and until they play out, it will take a year, it seems.

I yeah. But he’s he’s right. He’s right. It’s us I think he’s he’s expecting too much to happen within the Too short of time. Yeah. Yeah.

[00:49:36] McIntosh:

Okay. Alright. Let’s talk about our fees and mempool. Things are quiet. One SATs per v one SATs. One SAT. One SAT per v byte and 66,250, unprocessed transactions, about a 146 megabytes.

[00:49:55] Kenshin:

Yeah. That’s quite, calm still.

[00:49:57] McIntosh:

Quite calm. So consolidate those UTXOs if you need to.

[00:50:03] Kenshin:

Oh, wow. We have Forgot to do that.

[00:50:08] McIntosh:

Oh, wait. Hold on. Remind you of that.

[00:50:11] Kenshin:

Is that it? Bitcoin market cap. Sure. I can mention that. Hasn’t changed much from last week. 1,700,000,000,000.0.

[00:50:20] McIntosh:

Section.

[00:50:21] Kenshin:

Yeah.

[00:50:22] McIntosh:

How do you why do you put up with me? You should do your own show. You should call it Nakamoto Splebs. I bet you could double our account. Yeah. Nakamoto Splips. That’s actually I kinda wanna Kenshin’s Kenshin’s Plips. Oh, the ego shows up. Okay.

[00:50:43] Kenshin:

Okay. Bitcoin market cap, 1,700,000,000,000.0. Gold’s market cap, 28.7. So they’re a tiny bit higher. Bitcoin versus gold market cap, still 6.1 like last week.

[00:50:58] McIntosh:

Bitcoin turning into a slacker. That should be 10.5%.

[00:51:05] Kenshin:

It’s a good stack good stacking opportunities.

[00:51:08] McIntosh:

Yeah. Yeah.

You’re right. You’re right. Okay.

[00:51:16] Kenshin:

Do you want to do the price?

[00:51:18] McIntosh:

Man. I don’t know. We’ll just skip price because who knows what’s gonna happen. I’m just kidding. As we record as we started recording, the price of Bitcoin was 86,800 US cock bucks. What did we have in euros?

[00:51:36] Kenshin:

€74,900. Oh. So that’s a bit higher than last week. Price last November was 93,000 USD. This specific day I just saw it was up to 98 and down to 93. So it was a big swing that day, which means we’re minus 6.66%

[00:52:01] McIntosh:

from last year. Right. So, again, we’re negative. We went from 50% positive to Yeah. Negative, like, so fast.

Wasn’t even funny.

[00:52:15] Kenshin:

Yeah. Because that time last year, we were going very fast up Yeah. We were. Last year. Yeah. As you mentioned,

[00:52:23] McIntosh:

it’s a great time to stack sets. Mhmm. Satoshi’s Plebs is a value for value podcast supporting podcasting two point o. We strive to bring you honest Bitcoin content every week. We ask, are you getting value from this show, support it through time, talent, or treasure, help with future projects, stream sets, boost with messages, even a 100 sets saying, great show or you suck. We’ll read it either way. I’m pretty shameless about that. Check out the apps at podcastapps.com and support independent Bitcoin media, unlike that corporate Bitcoin media. Sorry.

If you like if you like the content, I would love it if you if you would write a review and tell your friends about the podcast. That is the best way for us to grow. This week’s music is Jetsons by Joe Martin. Any boost or streaming of sets during that song will go straight to the

[00:53:20] Kenshin:

artist. Thank you for being here. We hope this has been helpful again, and we would love to hear from you on Nostra this weekend. Find all our contact info at satosis.flips.com. Stay humble, DCA those search, and have a great weekend.

[00:53:35] McIntosh:

We’ll talk to you all soon.

[00:53:37] Kenshin:

Bye bye.