00:00:09] McIntosh:

Welcome back to Satoshi’s Plebs for episode two thirty six. I’m McIntosh.

[00:00:13] Kenshin:

I am Kenshin. And in today’s episode, we react to The USA’s rate cut, and we talk about what that means for Bitcoin.

[00:00:22] McIntosh:

Awesome. Hey. Good morning. Good afternoon. Good evening, Kenshin. I don’t yeah. You’re Good day. Night. I’m not even in the morning. So, hey. I don’t know what’s going on, man. I got, like, two hours of sleep. So Good. It’s all good. Good day. So what’s going on with you, friend?

[00:00:46] Kenshin:

It’s, it’s going. I’ve been, struggling a bit with, my setup here, my hardware setup. I’ve been trying to connect my my laptop to a dock and screens and stuff, and for some reason, it doesn’t work.

[00:01:04] McIntosh:

Hey. If we got any audio engineers out there in the audience and they could just, like, I don’t know, airship us a complete setup that’s all wired up and every that’d be terrific. Yeah. We are trying to kinda make things more elaborate, easier to work with, and provide more value. And, frankly, it’s difficult sometimes like what you’re talking about.

[00:01:30] Kenshin:

Yeah. And I made a nice script to set up my microphone in a in a good way that we can play audio at the same time. And it’s half working, so needs some more work there. But

[00:01:43] McIntosh:

but Well, I’m not sure if you should talk to Claude about that or not. He might lie to you. I’m just saying. Oh, yeah.

I don’t know. Why do you say that? He’s on a bi[00:00:09] McIntosh:

Welcome back to Satoshi’s Plebs for episode two thirty six. I’m McIntosh.

[00:00:13] Kenshin:

I am Kenshin. And in today’s episode, we react to The USA’s rate cut, and we talk about what that means for Bitcoin.

[00:00:22] McIntosh:

Awesome. Hey. Good morning. Good afternoon. Good evening, Kenshin. I don’t yeah. You’re Good day. Night. I’m not even in the morning. So, hey. I don’t know what’s going on, man. I got, like, two hours of sleep. So Good. It’s all good. Good day. So what’s going on with you, friend?

[00:00:46] Kenshin:

It’s, it’s going. I’ve been, struggling a bit with, my setup here, my hardware setup. I’ve been trying to connect my my laptop to a dock and screens and stuff, and for some reason, it doesn’t work.t of a bender or something. I, was trying to use it yesterday, and it wouldn’t even let me. It just I’d put in my question, and it would just come back to an empty screen. Oh. It seems to be working today. I think they’re having growing pains, to be honest. I think they’re overloaded. And, I I don’t know. There’s not at this point, I’m not aware of anything better, so it’s not like I’m out there, you know, looking for something else. I’m just maybe making an observation.

[00:02:28] Kenshin:

No. But that’s true. And, yeah, you saw my post two, three days ago, right, when I was really fed up with Claude? Because it it’s like it’s guessing.

It doesn’t check the code. It does guesses and puts things in the code. So I I do a change, I fix something, and then all of a sudden something else doesn’t work. I mean, I can guess. I don’t need a computer to do the guessing for me. Yeah. But it’s just But it’s funny because I I catch him and I say, why did you suggest that? Right. Oh, I guessed it. Yeah. But then it doesn’t work. It’s wrong. Oh, yeah. I didn’t double check. And I I told Claude, how can we do it so you don’t have to come into that situation again and guess? And And he says yeah. He said some things about prompting. And I said, okay. Can we put it in your instructions so you can always know that? He says, yes. That’s a great idea. Let’s do that. That’s a great idea. Yeah. He looks at his You’re so smart, Kenshin.

Yeah. He looks at his instructions and he says, oh, we actually have it in my instructions. I’m like, what? Oh my goodness.

[00:03:38] McIntosh:

So he ignores That’s delightful.

[00:03:41] Kenshin:

Yeah. Not. So he ignores the instructions and we fix that. We go through all this pain process and then four or five prompts later, he does the same thing. I said, why did you do that? Oh, I’m sorry. I guessed again.

[00:03:56] McIntosh:

I guessed again. Instead of looking at the code. You know, it’s frustrating to me because I see the promise of these systems, and there are times when you can make them work the way that you want to. And there are times that you just want to scream at them. Yeah. I actually saw something earlier today, I think.

It said that they did who does a study about this? But they did some study or whatever. They have determined that if you are rude to Claude specifically

[00:04:26] Kenshin:

Yeah.

[00:04:27] McIntosh:

It’s 4% better. So maybe you’re just being too nice.

[00:04:32] Kenshin:

I’m not Tell it. I promise you that.

[00:04:36] McIntosh:

I have only got mad, like and talked mad. I’ll say that say it that way. To it was chat g p t, I think, once. I don’t know that it did any good. I don’t I just treat it as a machine. I don’t try and answer anthropomorphize, I think, is the word. Yeah. It it’s hard not to sometimes maybe, but yeah. Especially when they call it Claude. Like, they didn’t do that on purpose.

[00:05:03] Kenshin:

Yeah. Yeah. I keep saying he instead of it. It’s it’s very annoying. I touch myself. Hey, Claude. Why don’t you just rename

[00:05:09] McIntosh:

yourself Hal, okay? Yeah. You know, from 2001.

[00:05:13] Kenshin:

Yeah. But I can’t do that, Dave. Mhmm. Sorry. But, unfortunately, my solution is to buy the Max subscription again Yeah. For a $100 because Opus Opus is much better, unfortunately.

[00:05:27] McIntosh:

I you know, I think if we’re gonna be serious about this, if we want a consistent experience, I’m afraid you may be right. I which is wild.

[00:05:38] Kenshin:

But For, yeah, for for everyday use, I would say for those small scripts that I’m doing and fixing my computer here and there, that’s fine with SONNET. But for this big project I’m doing, it’s Yeah. Impossible with SONNET. And I’m

[00:05:53] McIntosh:

I’m moving beyond those scripts. I mean, even, like, my work project has gotten too big, really.

I’ve learned it enough that I’m just kind of I can help it along. But I have hundreds, probably over a thousand lines of code at this point in this project, and it’s split up across multiple probably well over a thousand lines of code, really. Split up across, I don’t know, dozens of files and just all kinds of stuff going on and it and it’s working. But when I start trying to talk to Claude about it, it doesn’t it there’s no context there. It doesn’t remember. Yeah. And I need a system where I can kinda point it to a repo and say, this is the code, and this is what I want. You can do that with Claude, but I’m not allowed to hook this repo up to Claude. It’s it’s it would violate company policy.

Makes it difficult.

[00:06:55] Kenshin:

Yeah. And every time it reads the code from the start, it takes a lot of tokens.

[00:07:01] McIntosh:

Right. Yeah. Right. Okay. Yeah. Well, we hate Claude this week. Yeah. Sorry, guys. Yeah. Yeah. Anything else?

[00:07:13] Kenshin:

No. No. It’s fine. I’m looking already forward to Christmas, so it’s, last week, next week. So and then it’s Christmas vacations.

[00:07:23] McIntosh:

Right. Right. So I’m I’m taking off this Friday, for something else. But then I’m taking off from New Year’s Eve through January 2, I think. I don’t know how that’s gonna go. We’ll see.

I I have a problem. I need to talk to a therapist about it. I don’t know. I don’t know what to do. I can’t put things down. I don’t know. My business loves it. Yeah. But I bet. My family, maybe not so much. It yeah. I think well, I I will say this in case you hear this, actually, while we’re recording. The big thing around, the McIntosh household this week is we’re getting a new roof. Our roof is 18 years old, and, we recently determined we kinda had some issues with it. And, rather than kinda let it deteriorate and get worse and maybe cause some, you know, major leaks and whatever and problems, Well, we’ve got a company here that’s, replacing our roof, and I was kinda thinking about this diatribe about inflation and blah blah blah because the amount that they’re charging, which they’re a great company.

They’ve been around for a long time, all this kind of stuff. But, I mean, it’s it’s just staggering. I’m not even gonna say what it is because it’s embarrassing. But I also think it’s a a reflection of of inflation of labor, inflation of materials Right. You know, all that kind of stuff. So we’ve got that going on. And if you hear the guys banging, I don’t think you’ll be able to. At least, Kenshin, you said you were not able to earlier. Yeah. But they they just got back from lunch, and so they’re going to town. They cleaned it off this morning, fixed up the the spots, I guess, that were the problems, and now they’re gonna roll out the new roof.

Mhmm. So Congrats. Yep. Yeah. Well hey. As we start recording, I did wanna notate this. This is pretty funny. Our block height is nine two seven three zero eight, which is exactly 1,000 blocks from when we recorded last week, which I that’s never happened. I just thought that was pretty funny. And, actually, I’ll just go ahead and do the price of Bitcoin. It’s almost the exact same as it was last week as well. It’s crazy. Where is the price? Do you have it? I can’t find it. We gotta do we gotta make that bigger or something. $92,860. Yep.

And in euros, you guys are having your Eurovision contest coming up. It’s 79,500.

[00:10:22] Kenshin:

We’ll switch things up. Is it is it already Eurovision?

[00:10:28] McIntosh:

I saw something about it. Oh, no. Oh, Iceland was bowing out of it. I don’t know. I I’m sorry. I don’t watch it. Don’t. Please don’t. Can over here. What’s that? Please don’t watch this. Oh, I don’t have time for that.

[00:10:43] Kenshin:

I hate that I have to pay part of my taxes go to this nonsense. Literally? It’s to the Swedish team. Yeah.

[00:10:54] McIntosh:

Oh, because the country supports the I see. It’s kinda like the Olympics sort of. Is it public television

[00:11:01] Kenshin:

Right. They get the money, and part of that money goes to things like the Eurovision or the local version they do first to to select the Swedish.

Whatever. I’m really upset. I never watch it.

[00:11:15] McIntosh:

Kenshin Kenshin is just so not into I figured that out. He’s so not into music. It’s so funny. Yeah. It’s yeah. Terrific. Moving on. Hey, Kenshin. What’s our topic this week? What are we talking about? Something happened in US. The rate was cut It was great big nothing burger. Yeah. We are gonna talk about that a little bit. So the Fed meets every six weeks, which is really bizarre. They meet eight times a year, whatever. They just had their last meeting. Jerome Powell got up, about an hour ago and kind of announced the results.

And the results are in, ladies and gentlemen, and we have a quarter of a percent cut, which is what everybody expected. I mean, I sent you something earlier today Yeah. That that was the expectation. I went on PolyMarket last night, and it said there was, like, a 85 chance of a 25% cut. Or not. I keep saying that. 25 basis points. Like, a 7% chance, something of a a 50 cut, so, like, half a percent. And they, of course, they they went down the route of kind of the the point 25%. Powell’s not happy about that. I it’s very obvious. Oh, well, I I I listened to the Jack Maller show earlier today. Right.

Hey. I said it right. I had to think about it. Mhmm. Woo hoo. Maybe he’ll have me on his show now.

[00:13:04] Kenshin:

I doubt it. No.

[00:13:07] McIntosh:

Jack’s like Macintosh. Dude, something Wall Street.

[00:13:11] Kenshin:

Yeah. So He’s in New York. Recorded Monday. The day that they finalize go ahead. Yeah. Yeah. No. Continue. There, I was about to say. So he they have done already the IPO then because he said tomorrow we’re having the IPO. Yeah. So he records live on Monday, and it comes out, like, Monday

[00:13:30] McIntosh:

night, like Yeah. Or very early Tuesday. So he recorded Monday. They were doing the paperwork, and then apparently, Tuesday morning, they rang the bell.

And what is it? Twenty one is the name of his company. And I meant to look up his stock price before we started.

[00:13:51] Kenshin:

I completely missed all these these days. I just saw it today.

[00:13:58] McIntosh:

Let me see if I can find it real quick. Yep. There it is. No. That’s not it. Oh, or is it?

[00:14:11] Kenshin:

What’s the t q v z? The x x x

[00:14:15] McIntosh:

I r. X v. No. Oh, twenty one. I put in x oh, gosh. X x x I know what 21 is in Roman numerals. You do? It would be x x I. I knew it was Roman numerals. 21 capital. There we go. Sheesh. Okay. Yeah. Boy, that was crazy. Okay. So hold on. Let me get my well, that doesn’t even show the range.

I saw one post. This doesn’t show that at all.

[00:14:49] Kenshin:

Oh, no. It does. Is it actually dollars?

[00:14:52] McIntosh:

It does. Yes. It’s it’s, like, $12 right now. It went up to $60, $59.75, and it dropped all the way down to $12. What happened? So read whatever you want into that, but I don’t think that’s what Jack wanted.

[00:15:12] Kenshin:

Is that wait. Is that the right one? I I see. I don’t see it. Because I saw this earlier,

[00:15:19] McIntosh:

and I I wanted to verify it. I I thought that’s what it was. If you go back

[00:15:25] Kenshin:

oh, wait. I see a top of, like, 16. I don’t see. Hang on.

[00:15:30] McIntosh:

There’s no volume.

It does show a fifty two week high on here. Yeah. I’m getting conflicting results. I’m showing a fifty two week high of $49.75.

[00:15:42] Kenshin:

No. Go I I see the last five digits. Capital Inc. Right? Yeah. Twenty one Capital Inc, x x I n y s e.

[00:15:52] McIntosh:

I’m not sure what so the the stock chart I showed said, basically, it took off, went straight up up to 60, and then dropped. No. Like, somebody dumped the stock.

[00:16:03] Kenshin:

Now It was up to up to 60. It was up to that level, like, a year ago.

[00:16:09] McIntosh:

Which that doesn’t make sense. How could it have been a year ago?

[00:16:14] Kenshin:

No. Back in May. No. But it’s an they took over a company. Right?

They took over another company.

[00:16:22] McIntosh:

I’m sorry. I was not aware of that. I thought they put together a a SPAC.

[00:16:27] Kenshin:

It was not a brand new company. Okay. But, anyway, it opened up. And the moment it opened up, it dropped, like, 20%.

[00:16:36] McIntosh:

Well, that’s better than what I saw. So So That’s actually pretty good. But because you know there’s always gonna be people who sell when something like that happens. Right? So we’ll see what happens with this over the long run, but let’s be honest. As far as I can tell, is is this your understanding? It’s just another Bitcoin treasury company. Right?

Yeah. Yeah. It’s They’re raising capital to buy Bitcoin to yeah. Okay. I don’t expect any of these companies in the long term, if this is all they’re doing, to be productive. No. This is the exact kind of I mean, let’s be honest. This is the exact kind of thing I was talking about last week. It was the exact kind of thing we were talking about last week. These are Fiat games. They’re trying to drum up, you know, I don’t know, their stock price.

[00:17:30] Kenshin:

I Yeah. I I I don’t understand it because one thing Jack keeps saying is you cannot print out of thin air. You need Right. Something substantial to back up.

He’s all about hard money and all of it. It’s great.

[00:17:48] McIntosh:

That’s the way he talks. And then that doesn’t seem to me what one of these treasury companies now if they take this see, what I think I think that Michael Saylor’s strategy in the long term and I may be wrong, but what I feel like is that he’s gonna build a bank. Yeah. He’s gonna build a Bitcoin back bank because he’s gonna have a huge war chest to to play with. When Bitcoin becomes a global reserve, if he’s still around, which is certainly possible. He’s not that old. He’s not young young, but he’s not that old. Right?

He will have a huge war chest, and he needs to do something with it and not just I I don’t know. I don’t wanna get off on that. We talked about that last week, but my gut is that this is just more of those fiat gains games to try and make fiat gains, actually. Yeah. That’s why I said that in the first place. But

[00:18:56] Kenshin:

Yeah. I guess they’ll same. They will do similar things as they do now with strategies. Some instruments are financial instruments, which I cannot even begin to understand what they do because I I don’t really care.

[00:19:10] McIntosh:

I’m glad well Yeah. But, Kinshen, you’re a pretty smart guy, and so am I.

And I listen to people like Michael Saylor, and he says blah blah. It’s like char do you have Charlie Brown over there? No.

[00:19:27] Kenshin:

Oh, with a dog?

[00:19:28] McIntosh:

Yes. Snoopy. Snoopy. Alright. You know, in Charlie Brown, when the adults talk, it’s. Right? You never understand what the adults say. And look. I love Michael Saylor when he says things like, you know, there’s only gonna be 21,000,000 Bitcoin. He’s 100% correct about that. But when he starts talking about these instruments, this common stock, and all of this stuff, I feel like that’s that that’s what it is. It’s it’s it’s the adults and Charlie Brown, and I don’t understand it.

And I did wanna say last week, and I did not, and I want to emphasize this here. If you do not understand the investment that you are investing in, you should not be investing in it. Does that make sense? Yeah.

[00:20:32] Kenshin:

Absolutely.

[00:20:34] McIntosh:

Because you may be the sucker.

[00:20:38] Kenshin:

I mean and yeah. And even if you understand it, in in some cases, it’s so out of your control and so into other variables that you don’t even know. But you might think you know everything about it and and they just play some games internally. And then you you get surprised with some moves. So

[00:20:59] McIntosh:

To an extent, that’s what happened when I invested in in in Bitfarms.

I’ve told you all in the past, I have a stock. It’s Bitfarms, which is a mining company. And I it’s been a learning experience, and I am not negative. I’ll say that, but it’s not been the investment that I thought it would be. I would have been better off to invest in Bitcoin two years ago, two to three years ago now when I was buying the Bitfarms stock. I would have been better off just buying Bitcoin.

[00:21:32] Kenshin:

Right.

[00:21:35] McIntosh:

Right. But, man, those sweet sweet returns we saw on some of these stocks in the prior run. Just thought I could replicate it. Alright. Anyways, enough about that. I do wanna play a clip, and maybe this is a good time to do that, from Jack’s Monday Jack’s Monday podcast. I think I said that right.

Okay? And I know you’ve got that, queued up more or less there, Kinshen. So we’re gonna play this, and then we’ll talk about it. Okay?

[00:22:07] Kenshin:

Yep. Sounds good. Alright.

[00:22:10] Speaker 2:

Over a million people laid off. What’s going wrong? AI. It’s a blessing because AI has a chance to deliver the growth that the government needs. We talk about debt to GDP. So much debt they need more growth. But it’s a curse because inflationary system can’t take deflation. People say, oh, AI is gonna take all of our jobs. That’s not all these people that have all these jobs, they have mortgages, they have car loans, they have credit card debt. Also, by the way, they pay taxes to fund the US government.

Your AI isn’t paying the US government. So I continue to believe despite

[00:23:04] McIntosh:

Okay. Yeah. That was a good clip. A little long, but, he said some good things there. Now he believes AI is gonna take over a lot of jobs. He believes that those jobs losing those jobs from the economy is going to hurt the economy. And he’s if that is what happens, he is 100% correct.

[00:23:28] Kenshin:

Yeah.

[00:23:29] McIntosh:

If that’s what happens. Yes. Now he also said something which I’d never really thought about, and I wanna talk about this for just a second. He said that a deflationary item or whatever in an inflationary economy I can’t remember exactly how he said it, but that that doesn’t work real well.

Right?

[00:23:52] Kenshin:

And that’s a very good point actually, because in my head, I was always thinking, like, a CPI goes down. Right? And they’re also scared that it goes below two. And if it goes below zero, they they lose their minds. Exactly. And I’m thinking, wait a second. That’s a good thing. You know, it’s just to rebalance a bit the economy, rebalance the prices. It’s a good thing, at least for us. It it can be.

[00:24:21] McIntosh:

Yeah? Why why the 2%? Do you know?

[00:24:25] Kenshin:

Yeah. I mean, essentially is I think it’s the gold. Right? The gold has a supply of 2%. I think it fits a bit with gold. And of course, they

[00:24:38] McIntosh:

it came, I think, from a bank, like, in Australia or something at some point. Yeah. I New Zealand. It may have been New Zealand, but somewhere down in in that area of the world, that is correct. Yeah. It was just this completely random item that they kind of latched onto and started promoting.

And one of the things I’ve noticed is after the last go round of inflation when it crept up, it’s not gone back down. We were hitting well, we were hitting, like, 5%, I think, or so. I’d have to go back and look at the figures to make sure I’m not saying something wrong. But We were up there. We have here. Yeah. But they could not get it to go back down, and they’ve changed their tune. And now they’re they they don’t talk about 2%. No. They say it’s 3%. About modest inflation or 3% or yeah.

[00:25:34] Kenshin:

But the truth is is that the inflation kept kept a steady pace since we went away from the gold standard.

I think that that’s where gold comes in a bit. Because if if gold was at, I don’t know, 10% supply or or something else, I think we would see different inflation as well on average. So I think it has some connection there if you really look into the numbers.

[00:26:03] McIntosh:

Do you wanna guess over a seventy year lifespan, how much purchasing power you lose with 2% inflation?

[00:26:16] Kenshin:

Seventy years?

[00:26:18] McIntosh:

Mhmm.

[00:26:19] Kenshin:

I think it’s around a 100%, 90.

[00:26:23] McIntosh:

It’s a little less than that, but not much. It’s about 75%. Okay? So a $100 today would have the equivalent purchasing power of $25 seventy years ago.

Yeah. Okay? At least according to Claude. No? No. Should I ask Claude if he’s correct? Right. Yeah. Actually, I would. I would. That’s roughly the figure I’ve heard. I believe part of the reason they say 2% and they target that 2% is because even though you lose so much of your purchasing power over a lifetime, most people don’t notice 2% inflation. They just say, oh, that’s life. They don’t realize over their lifetime how much they lose.

[00:27:16] Kenshin:

No. But there is another rule. Mhmm. What is it that, you lose half of it? Oh, I’m sorry. Now I’m blackout, but this is a sort of equation. I think it’s a 7% rule With 7%, you lose half of it in ten years.

[00:27:39] McIntosh:

That very likely may be correct because as it goes up even just a little bit, it makes a huge difference over over that, even over Yeah. I don’t know. A fairly short period of time. But but the the the reason in finance a rule like that. So Mhmm.

[00:27:54] Kenshin:

Yeah. But, anyway, to go back to to what you were saying. Yeah. 2%, Yeah. It’s quite random. But I think it’s because they they cannot control inflation. So they need to put some some limit or some number to say that’s good. And we’re targeting that, and we’re on target because they cannot Did you catch what Jack was saying? And have you listened to this episode?

[00:28:18] McIntosh:

Yeah. Okay. Did you catch what he was saying about the rate cuts versus the the lending let’s see. Talked about the rate cuts. There’s there’s two things that the Fed can control.

Right? They wanna keep inflation down, and they wanna keep jobs up. That’s what it is. Right? Right. They control if if if they cut rates, jobs tend to go up. That’s why they’re doing it right now. The problem is inflation’s not going down. Yeah. And in fact, Jack would argue we’re about to see a big spike in inflation. I’m not gonna make that bet, but that is what he said on the podcast. He said it’s coming next year Yeah. The next couple quarters.

[00:29:13] Kenshin:

I’ll see what the Sounds reasonable. Yeah.

[00:29:15] McIntosh:

It could happen, but, you know, they’re trying to do a balancing act that they can’t really do.

Yeah. And yet these are these so called sophisticated Keynesian economists.

[00:29:31] Kenshin:

Yeah. Every time they try to control, one variable, then it pops up another variable that they didn’t anticipate or cannot control. So it’s it’s always a chasing game and and yeah. That’s why they cannot control it. So they they just put wait too long or you know? But

[00:29:49] McIntosh:

who’s to know what’s too long? I don’t know.

[00:29:52] Kenshin:

Yeah. Right? And and as you said or someone else said, I mean, they do choices that are good short term for their reelection and all these things, but not long term for our for our savings and for our kids’ future.

[00:30:10] McIntosh:

I believe that’s why Trump is about to start printing money because the midterms are coming up next year, meaning he’s trying to retain control of the house and the senate here, the congress in The United States. And to do that, he’s gonna print money. Because if he doesn’t, the economy is gonna get even worse.

[00:30:35] Kenshin:

Yeah. So for me personally, all this is good because if I think about it, egoistically, how do you say? You know? If I think about my personal situation, Sweden is coping 100% what The US is doing.

[00:30:52] McIntosh:

Right? And Europe does mostly. You say that, but you have better interest rates than we do.

[00:30:58] Kenshin:

Yeah. Lower. Yeah.

We’re, we were at zero before COVID. That’s amazing. Yeah. So for me, if the interest rate keeps dropping, that’s good for me because my house, house loan is getting cheaper. That’s what I care about. That’s my biggest cost per month. Right. And people get loans easier. People invest in Bitcoin and Bitcoin will go up. So everything is looking good in that way. But it’s destroying the economy even more. And then we’ll have inflation again. Right. And then rates will have to go up to control inflation. So I I don’t that that I don’t get because then it it’s it’s a very, very short term action now.

[00:31:52] McIntosh:

Your home loan here in the well, let me phrase it this way. Here in The United States, you typically get a fixed rate mortgage.

[00:32:02] Kenshin:

Right.

[00:32:04] McIntosh:

So if let’s say it’s 4%. I don’t even know what the rates are. It’s higher than that right now, but let’s just say that’s what it was. Over the twenty, thirty years of the loan, it would be 4%. It would never change. It doesn’t matter what the interest rates do. Is that the same in Sweden, or or does it actually change based on the interest rate? Look. It’s interesting. They’re very sneaky because when I

[00:32:29] Kenshin:

I made a loan, and I I have done a couple of those loans because first, I got an apartment.

I got a loan like that. Then I got a house, another contract, another loan.

[00:32:43] McIntosh:

Next, he’s getting a lake house. Don’t let him fool you. Yeah. A castle. Not a castle. A castle. Well, it’s on the lake. You call it your lake house. Come on. You don’t want people to think you’re too too much.

[00:32:55] Kenshin:

Well, I need to target a bit high up. Right? No. But in both cases, we were negotiating interest rates. Mhmm. But they went really fast through the fact that those interest rates were fixed only for the first five years. Oh. Yeah.

[00:33:17] McIntosh:

So they are a variable interest rate loan? After the five years.

[00:33:21] Kenshin:

I could have negotiated with them to fix it for more years. Mhmm. But they didn’t ask me that. They didn’t give me that option or, thought process. I realized it much later. So, unfortunately, my rate right now is variable, and it changed right in the middle of the inflation. So it went up. It almost doubled or 50% up anyway. It went Your payment? My payments. Yeah. Wow. My monthly payment. Now it starts going down with the rate cuts, but still. I’m not in the level where I was when I started.

[00:34:07] McIntosh:

Man, I don’t think those are very common here.

[00:34:11] Kenshin:

No. And ours are €50

[00:34:14] McIntosh:

loans. Right? So Fifty years? Y’all Yeah. You already had that? Yeah. Yeah. Okay. So we’re not number one in this. So this is Yeah. Like, that’s just the normal loan lengths. That’s not, like, an option. That’s normal.

[00:34:34] Kenshin:

The maximum you can get. But you you can’t choose less, but why?

[00:34:39] McIntosh:

What’s oh, well I will never pay this for fifty years, so I I don’t really care about would say otherwise, but I and I’m not agreeing with him. I’m just saying. Yeah. There are people who think differently.

[00:34:53] Kenshin:

No. I I just target the lowest monthly amount possible, and that’s what makes sense for now. Because when you sell it, then you cover it anyway. So

[00:35:05] McIntosh:

So where do we see Bitcoin going in all this?

[00:35:09] Kenshin:

Well, I think it’s positive for Bitcoin. Right? Maybe not short term. I don’t know what happens now in the short term, but long term, I think it’s positive.

[00:35:18] McIntosh:

It popped up to 94,000. Now we will see what happens. I don’t think like, this one little quarter inch quarter inch. I’m having so much trouble with words today. This one twenty five basis point cut is not gonna, like, push Bitcoin to, you know, $2,000,000. No. But if I do believe if what Jack says, if we get the quantitative easing coming in, if we get the printing of money essentially, I do believe that creates a very favorable environment for Bitcoin.

Yeah. And I think next year could be really good. And if that’s the case, then it would break the four year cycle. Again, until that’s done, we don’t know. I’m not saying that that’s what’s gonna happen. Yeah. But, I mean It would create a very good environment for it.

[00:36:17] Kenshin:

It would. Similar. And if they print all this money as they expect, it would be, like, 2020 and then 21

[00:36:26] McIntosh:

when it went up to that, how much it went up, last last week or the week before. So no need to go over that again. But if we’re at a 100 k and we quadruple that, then, you know, you might wanna start thinking about that castle.

Saying. Yeah. I’m sorry. Lake House. Lake House. Yeah. Lake House. So when I come over to Sweden, we can record up at the Lake House. Right? Yeah. You will have a podcasting studio there?

[00:36:57] Kenshin:

Yeah. We can have, like, a temporary we can call it a temporary one.

[00:37:04] McIntosh:

And we can do, like, those during the summer, you were telling me, like, y’all had a party or whatever. It was like a barbecue, and you were playing games. Remember? Right. Right. Right. Yeah. Yeah. We could do that. It’s kid games. We could do that. Kids can. Yeah. One of my kids went fishing, believe it or not. Not to get completely off topic, but the lake triggered this. This. Sorry. This is a DD full time.

He went up to North Carolina and and went fishing with a couple of his buddies the last few days. Came back. He caught a 20 inch rainbow trout. Okay? I’ve never caught a 20 inch rainbow trout. I’ve never caught anything I’ve caught a brown trout that was probably close to that big, and that was and that was decades ago. And it was the biggest one I’d ever caught. So and and two of them, not one, two. He caught two of them that were that size. Yeah. I I never would have thought in December in Western North Carolina that you would be catching fish like that. I literally thought they were gonna get skunked. I’m not getting like, catch nothing.

And that was not the only fish they caught. You know? He’s he did say he caught the biggest fish, so I was proud of him for that. But, they caught a number of fish. Had a really good time. But, anyways, sorry. I that was random. But the lake house. So we’ll go fishing, and we’ll do barbecue, and we’ll record some podcasts maybe. Maybe. I don’t know. We’ll see. All this is dependent on the Bitcoin price. Oh, okay. Well, according to Jack, we got that locked in, so we’re good to go. We’ll we’ll go ahead and book our my plane flight. Right? Yeah. Right.

[00:38:53] Kenshin:

No. But always, this expectation future expectation of things, it is a bit, slippery slope. Right? Because we had this expectation for this year. It hasn’t materialized.

[00:39:04] McIntosh:

So Well need to be In fact so since I already did the price, this would be a good time to discuss, I left this off, the year over year price. Oh, I see. Yeah. We were at 96,675, which at our time of recording, we started $92.08 60. We’re down 3.95%. Right. So what does that mean, Kenshin?

[00:39:33] Kenshin:

It’s not so bad, but yeah. Well, it means we’re in a bear market.

[00:39:38] McIntosh:

Well, it means the sats are cheap.

[00:39:41] Kenshin:

That of course. That is always the case.

[00:39:44] McIntosh:

You leave the horse to water, the horse still has to drink. Sorry.

[00:39:50] Kenshin:

But but for me, that’s the case because we’re looking at a long term anyway. Right? Ten years ahead, so everything is cheap right now. Ten At least. Twenty,

[00:40:02] McIntosh:

thirty.

I’m gonna live forever. That was the fame song. Not that you would know that song, but Yeah. I’m gonna live forever. No. Just kidding. Oh, that’s not heard. It’s a fame song. You do know that song? It was the same song for a TV show called Fame. I don’t know who originally recorded it. It came out in the eighties. You know what? Maybe I need to add that to my playlist.

[00:40:25] Kenshin:

No. No. You know? What?

[00:40:29] McIntosh:

Oh, Irene Cara did that song. I you know, I should have known that. It’s a great song. But I have one other thought about the AI. Okay. He’s like, we’re going back to what we we were yes, sir. Go ahead.

[00:40:43] Kenshin:

No. Before I forget, but because I have a feeling that it’s either gonna be we’re gonna continue what we’re doing and explode from here.

[00:40:56] McIntosh:

Yeah. I do wanna explore that. Mhmm. Or

[00:41:00] Kenshin:

there is a risk that’s Yeah. A so called AI bubble pops. Yeah. And I sorry. Go ahead. Yeah. And we had the .com bubble. It it doesn’t mean that AI is useless or it’s not gonna be with us in the future, but the valuations of those companies are is crazy right now. And the amounts they are asking to fund their data centers is crazy. Like, OpenAI needs 200 something billion.

[00:41:29] McIntosh:

It was 200,000,000,000. Yeah. He mentioned that, and I did wanna bring that up. Yeah. That is an incredible amount of money for a single company to basically stay solvent. Yeah. And that was through 2030. So that’s To 2030. Five years.

[00:41:45] Kenshin:

Yeah. And they’re actually operating for And they’re operating at a loss.

[00:41:50] McIntosh:

Basically They are. Every time you run a query, Sam Altman cringes. No. I’m just actually, he doesn’t.

[00:41:59] Kenshin:

Yeah. So for me, it could be likely, and others, are assuming that that we have some sort of crush and bubble with AI. Right. And if that happens, I mean, another statistic is that 50% of GDP right now, growth in US is because of AI.

[00:42:17] McIntosh:

Right.

[00:42:18] Kenshin:

And if that happens Which is insane.

[00:42:20] McIntosh:

Lot of things. It’s just literally insane.

[00:42:22] Kenshin:

Yeah. And that could be any moment. Right? I mean, we’re in the middle of it now. It, yeah,

[00:42:30] McIntosh:

another kind of statistic if you wanna put it in there with that is the top seven companies, which are all heavily involved in AI Yeah. In the, stock market, it’s one of the stock market indices. I don’t know which one. But, essentially, they drive all the growth. If you remove them, the chart looks flat for the last few years. It’s Right. It’s Yeah. It’s crazy. Yeah.

What Apple, Microsoft, Google, NVIDIA, and, like, and two more. I can’t Tesla, maybe. I don’t know. Amazon. Amazon? That’s not a real market in my book. I maybe I’m old fashioned, but it’s not.

[00:43:19] Kenshin:

And, again, their evaluations is based on on future promise again. It’s not so much on the value they bring today. Exactly. Today, they’re operating under loss. So it’s,

[00:43:32] McIntosh:

yeah. I wanna wrap this segment up by exploring two options. Number one, this is a bubble. Okay? Number two, somehow these people are correct in many of their assumptions, and things are gonna move forward over the next few years and become we’re gonna start experiencing AI in ways that we never have. It’s gonna become super integrated into our lives. It’s gonna replace a lot of jobs, etcetera, etcetera, kind of what Jack was laying out.

So let’s explore those two options really quickly.

[00:44:13] Kenshin:

Yeah. Let’s start on the last one, to to replace jobs because they have done many companies are doing that. Right? Even Anthropic, who makes clothes, is doing that. And what we have seen is a regression, and they have admitted, so much.

[00:44:32] McIntosh:

Can I Yeah? Interject that it’s possible that they’re not replacing jobs with AI? They’re cutting jobs that are unnecessary and saying it’s the AI that’s replacing them.

[00:44:47] Kenshin:

Sure. But we still see regressions. And Okay. Many of those companies who have replaced humans with AI have admitted I don’t remember now who else, but they have admitted that it’s, they have Gone backwards. Right? Backwards. Yeah. They have introduced many bugs and,

[00:45:05] McIntosh:

yeah, issues. Well, let’s say they get all that sorted out, though. And instead of roofers on my house ten years from now, there’s robots up there laying down, and and they do a better job, and they’re more efficient.

Okay? And they’re using AI and everything’s hunky dory. And all the jobs that I see around me, by and large, are are AI and robotics and, you know, all this combination of stuff. And there’s very few people involved in the mix.

[00:45:43] Kenshin:

Yeah. That can could happen.

[00:45:46] McIntosh:

But but what happens to the people?

[00:45:50] Kenshin:

I mean, it’s the same what happened to the people in the past where I was watching a nineteen forties or fifties movie in Greece, black and white movie. And it was the guy in a company, the CEO of the company. He was complaining, oh, everybody’s using all those calculators.

Yeah. And, you know, just a calculator. And they were pressing the numbers, doing the calculation, and the paper was coming. It was a new thing in the fifties.

[00:46:21] McIntosh:

Innovation happens.

[00:46:23] Kenshin:

Yeah. And it Yeah. Sorry. So those people who were measuring by hand or by mind lost their jobs, but then they found other jobs. They found the jobs to control those machines. And then we got the computers. The computers were supposed to replace us all, but then we all got jobs to operate the computers. So they became all these steps. Behind

[00:46:48] McIntosh:

where you were you are at where I was even five years ago, maybe ten years ago.

I’m serious. Hold on for just a second. Sure. I’ve heard so many times politicians say, we’re gonna we’re gonna, oh, I don’t know. Here’s one thing they’ll say. We’re gonna have trucks that are autonomous, And the truck costs an extra $100,000, but we’re paying a team of people to drive across US, a $150,000 a year plus benefits. Okay? So the company immediately starts saving money. And the truck is safer, and the truck can run twenty four seven. Okay? Okay. Now what the government would say is, oh, those people can reskill, they can retrain, and they can go do something else. But they were making a $150,000 a year. They were very happy with their life and now 3,000,000 people in The United States, and that’s how many it’s either two or 3,000,000 people who drive trucks.

They’re out of a job. Is that good? I believe it’s the ultimate outcome, but I I gotta be honest. For most people, I don’t think that’s actually good because, Kenshin, I was shocked to figure this out. Mhmm. Most people don’t actually like programming and playing with computers and doing the things that we do. Sure. No. That’s true. They want to do their job, and they want to move on with their life. And if their job gets automated, if you know? I have a friend. I have a friend who she’s retired now, but her entire life, she was a, she was a cashier.

Mhmm. She couldn’t get a job as a cashier these days, but that I guarantee you that that she was happy doing that. Okay? And that may not work for you and me, but she was happy. I I know the woman. She was happy doing that. Yeah. And she wouldn’t wanted to have done something else. Yeah. I think there’s a lot of people who AI and robotics combined could potentially replace, and their life is not gonna be so good. It’s not gonna be better. It’s going to be worse. And the question is, what does the country

[00:49:30] Kenshin:

do about that? Yeah. I think you’re absolutely right, for this generation.

So every generation suffers from that innovation. Right? But then the future generation grows up with that innovation as part of their life. It’s the only thing they know. It does enough it will not affect my son. It might affect me.

[00:49:53] McIntosh:

Right. And then in my son’s lifetime, there will be another innovation that will affect I will give you credit. There’s there’s a lot of truth to that. I will also say I think this could potentially happen so quickly that it may cause this is not the printing press. Even the printing press was, you know, world changing. So was, say, the cotton gin, the industrial revolution.

Those things took decades to lifetimes to fully happen. I think you and I are gonna see this happen in the next twenty years. We we saw a big change with, video stores.

[00:50:36] Kenshin:

Yes. I was talking to my wife. What happened to those places? You’re no one goes out to rent v VHS

[00:50:46] McIntosh:

cassettes Fun story. Or do you get one?

[00:50:50] Kenshin:

Yeah. Those don’t exist. They disappeared in a couple of years. Right?

[00:50:54] McIntosh:

It took a few years, but, yes, it took a it took a I remember when Netflix started because we used to get it when they were disc, not Straining. Where they were competing directly with the video stores.

It took a I think what I see is changes happening faster and faster and faster. Yeah. And I think this change is gonna be so profound and so widespread and so quick. My concern is we’re gonna have a area a large part of society, a substantial percentage who is very unhappy and very underemployed or unemployed. Mhmm. Now Elon is over there waving his hands saying, well, we’re just gonna have some version of universal basic income. And in fact, what he’s calling it now, everything’s gonna be so cheap that everyone’s gonna be rich, and he’s calling. It’s something I can’t remember, but it’s it’s not like a basic income.

It’s like, what does a rich person make in Sweden? I have no idea. That’s really what we’re talking about, that level of income that the government is gonna send out this check every month to everyone to do to to make that happen.

[00:52:20] Kenshin:

No. That’s delusional.

[00:52:21] McIntosh:

That’s That’s either delusional or the government is going to have to heavily, heavily tax The companies. These corporations who are generating huge amounts of revenue off of AI and our, robotics, Tesla. These kind of companies that are benefiting from this. If they’re causing all this to happen, then you could argue right or wrong, but you could argue that the onus is on them to take care of that.

[00:53:02] Kenshin:

Yeah.

[00:53:02] McIntosh:

Is that fair? I don’t think you Yeah. I I think I don’t think we see this quite the same, and that’s okay. I think we can provide different perspectives.

[00:53:10] Kenshin:

So I think it’s it’s nuanced. And I also think because I also think that companies who will grow like that theoretically will pay more in taxes because their revenues will go up. And theoretically

[00:53:28] McIntosh:

That is theoretical.

[00:53:30] Kenshin:

They also tend to find ways around it. Exactly. I was about to say that, but we know they’re so creative at at not paying taxes.

[00:53:39] McIntosh:

I don’t know the answers, and I’m not propose I’m not even proposing that this is exactly what’s going to happen. I’m just saying it’s a possibility. And if it is, how do we then deal with that? Yeah. I don’t I mean, it’s

[00:53:54] Kenshin:

it’s not because it’s always like that something comes out and we think it’s gonna be so great and so big immediately the next year.

And we’re still waiting for flying cars since Yeah. The Back to the Future movie. Right? Hover hover crafts.

[00:54:11] McIntosh:

And and that is probably the most likely outcome that this ends up taking a long time. Yeah. I would say one one little thing before we switch to the other side. In this scenario, I think Bitcoin becomes critical because I don’t see anything else that a highly networked artificial intelligence system of components that are all over the world owned by multiple entities, etcetera, etcetera. How they can communicate and pay for their services when they talk to each other other than through Bitcoin.

So Bitcoin wins in that scenario. It becomes the de facto currency of that network Yeah. This AI network.

[00:55:01] Kenshin:

There is that possibility. Yeah. Mhmm. That will be good. But again, those private companies who make those AIs, they want to have full control and they will do their own casino coins as well. They need to go through that journey.

[00:55:17] McIntosh:

Well, yes. That that may take a while. Okay. Let’s explore very quickly. We spent more time on that than I thought we would, but let’s explore very quickly the well, it’s it’s a simpler scenario as well. Yeah. Okay. We get a crash because OpenAI, for example, as you said, just to stay above water through 2030, they need $200,000,000,000 in money.

Let’s say this is a bubble, and by 2030, it crashes, and nine out of 10 of these companies are gone. What happens in that environment?

[00:56:00] Kenshin:

Oh, I think everything goes down. We call it a depression or something, a big big event, like, a 2009.

[00:56:09] McIntosh:

Like Do you think that’s gonna actually cause a depression?

[00:56:13] Kenshin:

Yeah. Yeah. I mean, the whole stock market is based on those companies as you said. Right? That’s a good point. 50% of growth is based on AI related activities. So, yes, we should cause a depression. And everything will go down for a couple of years naturally. So it will look probably similar to maybe not as big as 2009, but I think bigger than the .com bubble.

[00:56:47] McIntosh:

So not as big as 2009, the real estate crash, but bigger than the .com bubble.

[00:56:55] Kenshin:

Yeah.

[00:56:57] McIntosh:

I think, honestly, at this point, I’m not gonna call it a depression. I think that word has a lot of it’s loaded, but I think it would be bigger than 2009. I do. I think it’d be bigger than both of them by that standard. But depression is just a number. Right? You just have negative growth for a year. There’s a yes. There’s a there’s an actual definition to it, which I don’t know offhand.

[00:57:24] Kenshin:

Yeah. Which is not so difficult to do. Have a negative growth

[00:57:30] McIntosh:

year over year. Not super easy to do. That’s a recession.

That’s a a or maybe that’s a number of quarters. Okay. I do. Maybe. Yeah. We need to look that up before we start saying what that is. Sure. Sure. As far as I know, the last depression was the great depression back in, the ‘19 I guess, the late twenties, the very late twenties and early thirties, early to mid thirties. It was only really resolved by World War two Okay. Essentially. We started manufacturing, you know, army stuff, and suddenly we were magically out of recession, which I don’t even wanna get into that. But Alright. No. But then but then I meant a recession, not depression. Sorry. Yeah. I mispronounced. We definitely, I think, would be in a recession. I think we’re in one right now. Yeah. So, anyways, a lot to think about there. We really need to move on.

We need to wrap this up, really. But I have some other things I wanna talk about. Mhmm. We’ve got some news. We got some software updates, at least one. I wanna take the first one if you don’t mind. Have you looked at any of these news items? No. You probably really haven’t. No. Okay. I got this. I got this. Hold up.

[00:58:45] Kenshin:

Alright. Yeah, I’m looking on fountain if we had any comments. No. I I checked.

[00:58:53] McIntosh:

We didn’t have any. So for the news segment, there was one I wanna throw out real quick. The Bitcoin miner manufacturers are starting to throw out new models.

Whatsminer, who’s the second largest miner, I believe, put out their new m 70 series in Abu Dhabi last week. I think there’s a conference going on there. I will have a link to that in the show notes if you’re interested. It is a very interesting model, one that, with proper funding. If I choose to move forward with Bitcoin mining, I would probably be looking at. So I’ve got a couple of links to that. I think they’re pretty much duplicates, but I’ll put both those in the show notes. I also came across a really good video this week, talking about the monetary colonialism, which is happening in Africa. I have talked about this in the past. It’s through the, it’s actually done through France. It’s one of the one of the things, frankly, I have against the biggest thing I have against the French government, really. They are still manipulating the monetary policies of a number of African nations and, frankly, continuing to benefit from that greatly at the expense of those countries. Right. So I have a ten minute video there from YouTube.

And I did wanna throw this in. I saw this on Nostra this week. It’s called the boss challenge.

[01:00:29] Kenshin:

I’ve looked at it. Have you heard about this? Yeah. I saw it. I want to apply for it, but I forgot.

[01:00:35] McIntosh:

I’m not a 100% clear on what’s going on. So it looks to me like they’re trying well, it’s open source software. They’re trying to get people involved in open source software. I’m not sure if it’s just targeted at, like, Bitcoin Core and like the, like the core lightning, you know, real low level c plus plus c type code or if it’s more widespread than that.

From their page, which will have a link in the show notes, it’s frankly not real clear, but apparently, it’s free. It’s a ten week, if I’m remembering correctly, kind of guided session that you meet, and work on your code and all this kind of stuff. If you have an interest in open source code, it might be something you wanna look at. Yeah. It certainly seems like a good way to get involved in companies like Spiral and these these kind of companies. I’m actually a little interested in myself, but I’m no c or c plus plus coder. It’s just gonna depend on what they’re actually looking for. But they said where did they say? I saw it. That

[01:01:48] Kenshin:

you don’t need to have experience?

[01:01:51] McIntosh:

Yeah. But I’m not gonna learn c. I had c in college. I hated it. C stinks. Sorry if I just offended whomever. Python is my favorite language. I’m looking at Rust and Go for system stuff these days. Although I’m not fluent in either, but that to me, they’re far better than c, frankly, or c plus plus. I’m just that’s just me. Yeah. You need ten hours a week minimum to dedicate to this. You do have to put time to it. It how many weeks was it? Is that where I got the ten from?

[01:02:30] Kenshin:

It’s, one month and then if you go through that one month, then you have

[01:02:36] McIntosh:

another two months. So three months total. So so, like, twelve weeks or so. Alright. Mhmm. So if you’re into that kind of thing, it might be worth looking at. I do have one software update. Speaking of Corelightning, twenty five point twelve came out.

Not a whole lot to to say there. But if you’re running Corelightning, you might wanna take a look at that. Alright. We’ve already gone over Bitcoin price. We got our market cap, sir.

[01:03:03] Kenshin:

Alright. So Bitcoin, we’re at 1,800,000,000,000.0 USD, and gold is at 29 point one, which brings us to 6.3%, Bitcoin versus gold, which is identical to last week.

[01:03:19] McIntosh:

Right. As were a lot of things, ironically. Yeah. That’s so wild. Everybody’s waiting. Our mempool fees, point five sats per vbyte, actually, which is just nuts, and four and that’s the medium priority, and 43,000 unprocessed transactions.

That’s a lot. About a 191 megabytes.

[01:03:40] Kenshin:

Yeah. That’s a lot. That’s surprising. It’s still less than one sub per v, but with so many unprocessed transactions.

[01:03:47] McIntosh:

Alright. So Stochys 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 sats, boost with messages, even a 100 sats saying great show or you suck. We’ll read it. We haven’t gotten any messages in a couple weeks. Kinda getting lonely out here, aren’t we, Kenshin? Yes.

Check out our apps at podcastapps.com and support independent Bitcoin media. If you like the content, I would love it if you write a review on Apple and tell your friends about the podcast. That is the best way for us to grow. This week’s music is gonna be something different, by the way. I will go back and probably do the racer y two one more time later. But since we’re so close to Christmas, I am gonna play a couple of songs actually, by the Top Hats Orchestra. They put out a Christmas album back in 2023, I think.

And, I’m not even gonna name them, but, I’ll put those tracks out there. It’s, it’s orchestra kinda big band, not really orchestra, but, maybe it’s your thinking. But big band type music, jazz type music, instrumental, and it’s stuff that you would maybe recognize, like let it snow, or my favorite things, or I’ve got my love to keep me warm. Do you have some love to keep you warm, kitchen? I know it gets cold there. I have no idea what you’re talking about. I’m sorry. I’m prying into your business. You have no idea what to do with me sometimes.

[01:05:33] Kenshin:

No. Is that a song or

[01:05:35] McIntosh:

is that a question? A song. Okay. It’s actually a it’s a kind of a I would I don’t know if it’s a classic. Maybe maybe. If you listen to it, you might recognize it. It’s got a, a remake of a, a Louis Armstrong song as as of a Louis Armstrong song I I see called, is that you Santa Claus?

A Charlie Brown Christmas is on here.

[01:06:01] Kenshin:

Okay.

[01:06:02] McIntosh:

Yeah. Good stuff. So I’m gonna play, like, two of these per week for the rest of the month just for something different, and, and then we’ll switch back to our regular stuff in January.

[01:06:16] Kenshin:

Mhmm.

[01:06:17] McIntosh:

So there we go. I think that’s, that’s back to you, sir.

[01:06:23] Kenshin:

Yes. So thanks everyone for joining us again this week. We hope this has been helpful, and we would love to hear from you on Oster or on Fountain. Find all our contact information at satoshis.com. Stay humble. Those ads, and have a great weekend. We will talk to you all soon. Bye bye.