Join me today for Episode 918 of Bitcoin And . . .
Topics for today:
- Bloodbath, Germany, and MtGOX
- "Websites Are nostr Events" at Npub[.]Pro
- Satonomics: FOSS version of Glassnode (It's Beautiful)
- Project Alexandria Moves Ahead
#Bitcoin #BitcoinAnd
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https://cointelegraph.com/news/mt-gox-repayments-bitcoin-bitcoin-cash
https://cointelegraph.com/news/mt-gox-moves-billions-bitcoin-unknown-wallet-address
https://decrypt.co/238623/german-politician-challenges-governments-bitcoin-sell-off
https://www.coindesk.com/markets/2024/07/05/us-added-206k-jobs-in-june-topping-estimates-for-190000/
- https://www.cnbc.com/futures-and-commodities/
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[00:00:00]
Unknown:
Good morning. This is David Bennett, and this is Bitcoin and, a podcast where I try to find the edge effect between the worlds of Bitcoin, gaming, permaculture, podcasting, and education to gain a better understanding of all. Edge effect is a concept from ecology describing a greater diversity of life where the edges of 2 systems overlap. While species from either system can be found at the edge, it is important to note there are species in the overlap that exist in neither system, and that is what I seek to uncover. Uncover. So join me in discovering the variety of things being created as Bitcoin rubs up against other systems. It is 9:30 AM Pacific Daylight Time. It is the day after independence day in the United States, 5th July 2024.
And this is episode 918 of Bitcoin, and my cat is back. My cat went on a little kitty adventure. And it's kinda poignant enough that I wanna spend just a few, couple of minutes this morning kinda going off on what actually occurred a couple of weeks ago. My favorite cat. Not just any cat. I mean, I got I got 3 cats. And I love them all. Don't get me wrong. This particular cat. Love this cat. I don't know why. It's just 1 of those things. In order for a cat to be a cat, you kinda got to let a cat do what a cat wants to do. And this particular cat wants to go outside.
The other cats, not so much. Also, I've never had a cat that would hold a collar. Every time we put a collar on a cat within a couple of days, that collar is just gone. We can't even find it. Right? So the only other option is chipping a cat, which I'm kinda loathed to do, but I would rather chip a animal than than a human being. But that's aside. So I got a cat, favorite cat. It's a rescue kitty, founded in Canyon as a itty bitty kit kitten. Totally not weaned at this point, Except that its face was her face was just crusted with tears. You know, like the she's just her her tear ducts just go on and on and on. And that shit continues to this day. But when she was a kitten, it looked like her mother abandoned her because she probably had some kind of disease. And it turns out that that she does, but it's not life threatening.
It's feline herpes virus. H h was it? F f h v. Yeah. F h e. She's got herpes, but it's not life threatening. It's not contagious. It happens. I had her took her to the vet when we were getting her cleaned up. We saved her life. We bottle fed her fed her. I mean, the whole 9, dude. We got the fleas off of her. She was gonna die. This cat was gonna die. So, you know, we fast forward to a couple of weeks ago when she had been going outside. I'm good with that, kinda, except that 1 day she just disappears. Not not a hair to be seen. And stayed gone. Now usually after about a week and a half, I just completely give up hope. I put posted to Facebook, called the animal control to see if they'd picked up any cats. You know, you you do the standard stuff, but after about a week and a half, chances of you getting your animal back are are really really slim. Alright. So
[00:03:36] Unknown:
I finally get an email from the Facebook post that I put up on the, you know, the,
[00:03:42] Unknown:
area wide Facebook for, group for lost and found pets. Sure enough, this guy emails me and says, think you got your cat. Sent me pictures, and I'm like, yep. That's my cat. So I say, okay, you know, where where are you at? And, or or bring the cat over or I'll come over to you, whatever. He goes, I'll I'll be over in a minute. So I I, you know, I I give him the address. And we you know, I I figured that we live pretty close. We're, you know, fairly, you know, not too terribly of a distance away from each other. I go outside just waiting for the dude, you know, having a having a cup of coffee. And I noticed these 2 this couple, coming across the street.
They were our neighbors, Like, 3 houses down and across the street. And I was like, what I go, what's you know, what's going on? I'm not mad. I'm just happy to see my cat. It turns out that my cat had visited their yard a couple of times. And on the 3rd time that my cat visited their yard because she's outside cats roam they decide to take her to the vet see if she's got a chip okay well that's that's cool when they found out that she didn't have a chip they boarded her they put her in a kennel at the vet for over a week while they went on a honeymoon.
So they had just found a cat. Let's just not even let's forget the fact that it's my cat, that I've lost this cat. They have no idea that it's anybody's cat. They just find this cat. They take it to the vet after a couple times seeing it in their yard. And then instead of taking it home and nurturing it or doing whatever, they shove it in a kennel to go on their Hawaiian honeymoon for like a week.
[00:05:35] Unknown:
So they give me my cat back.
[00:05:39] Unknown:
I'm not even going to ask them. You know, I'm really kind of steamed at this point. Yeah. I should be more mad. I'm really polite to them. I'm very thankful. All I give a shit is about having my cat back. But at great financial expense, especially during these times now with the with inflation the way it is, it's we've gotta be looking at a $700 bill, minimum, from the vet visit to putting her in a kennel and all that stuff because then, like, you got for I think bordetella is also a thing with cats, so they gotta be vaccinated on that before they get before they get boarded up.
Gotta be gotta be expensive. I'm not even gonna ask to help. I'm like, I didn't ask for this. I didn't ask for you to take my cat because my cat just happens to be outside and is roaming around doing what cats do for you to wrongfully imprison my cat for a week. And then now now she's, like, literally has taken an entire day to put herself back together, figure out where she was. I mean, it was weird. She was acting really strange. She's calmed down, but man so the lesson of the story is this. If you see an adult cat, not a kitten, If you find an adult cat on your property and it doesn't have a collar and it's really, really sweet and comes up and it's purring and you're petting it and it's, like, really easy with you and it's not attacking you, that's somebody's pet.
It is either lost or it belongs to 1 of your neighbors. So here's what you don't do. You don't see the cat, and on the 3rd occasion of seeing the cat, take it to a vet and then board it so that you can go on your honeymoon. So that you can traumatize the cat, keep her away from all of her little kitty friends, her little doggy friend, and her family for over a week at and then pay $700 for for it's ridiculous. I I don't even know what to say about this. It it's like, I mean, I get that they're a young couple, but honestly, even I've known this for years.
If the cat is friendly then it's somebody's pet if it's lost you take it you you either you call animal control you call like some vets you find out if somebody's looking for it you put on you then you go to the Facebook groups nowadays but you don't just automatically shove it in a kennel so that you can go on your honeymoon. I mean, it's it's it's shitcoin behavior. This This is why we have shitcoinery and why we can't have nice things. Unlike what we have in the Circle P, Circle P is open for business. And today, as usual, for the entirety of the week has been Sheeshi 21m bringing you the hot conferee route. That's right. You can get conferee route. And if you wanna know why you want this route, you're gonna wanna listen to episode 726 of Bitcoin. And there will be a link to the fountain show or episode right down in the show notes. Please go listen to it. I do an entire show just on why you want comfrey so that I don't have to go into it here. But the what I will say is that you're buying this route not for a 1 time deal, like you're gonna grind it up and do medicine or do all the wonder other wonderful things that you do with it. No. You're using this. It's a live route. You will plant it where you want it to go. It will stay there forever. It is perennial. It will never die. And it also won't spread. And it's medicine, it's compost, it's mulch, it does all these wonderful things.
If you wanna learn more, episode 726 of Bitcoin and, she she [email protected]. S h I s h I, the numbers 21, letter [email protected] to order a full root which will sprout almost instantaneously after you plant it for $20. Or you can get root cuttings which will take a little longer to sprout, sometimes as long as 7 weeks. Most of them will come up within a week to 2 weeks. Those are a buck a piece. You'll pay shipping. Make sure you tell shi [email protected] that I sent you from the circle p, and he will get me some satoshis back on the backside for making them a sale.
Let's move on into the news. And we've got some, and we're going to start with clearly, some of the chicanery that occurred yesterday on on Independence Day. Mount Gox began repayments in Bitcoin and Bitcoin Cash. And this is what was 1 of the issues going on yesterday that caused gigantic declines in price. And it's brought to you by Cointelegraph Josh O'Sullivan is writing. Mt. Gox, the collapsed crypto exchange, has begun repaying its debts in Bitcoin and Bitcoin Cash. Repayments are being made to some rehabilitation creditors via designated crypto exchanges per its rehabilitation plan, according to a Twitter post by the Mt. Gox balance bot account.
The total Bitcoin balance on all known addresses of the Mt. Gox trustee is 94, 457 BTC with 47, 288 being moved from these addresses since. The repayments to the remaining rehabilitation creditors will be promptly made after multiple conditions have been met. These conditions include confirming account validity and the creditors' acceptance of the intent to subscribe to the agency receipt agreement by designated crypto exchanges in addition to assuring repayments being made safely and securely. Discussions regarding repayment procedures between the rehabilitation trustee and the exchanges must also be completed.
Mt. Gox was founded in 2010 by Jeb McCaleb and was 1 of the largest BTC exchanges handling 70% of all global BTC transact transactions at its peak. And McCaleb sold that son of a bitch to Mark Carpelis in 2011. He, Jeb McCaleb, started it and sold it within a year. I didn't realize it was that quick. I I I thought Jeb had that thing a little bit longer than that. But, whatever. In early 2014, the exchange suspended all BTC withdrawal, citing technical issues, but later it revealed that approximately 850, 000 BTC was lost due to a long standing security breach.
After filing for bankruptcy in February of 2014 with liabilities far outweighing its assets, the case shifted to civil rehabilitation in 2018, and Carpelles was convicted of falsifying financial records in 2019. According to several Reddit posts and users, BTC and Bitcoin Cash have begun to be repaid and credited to exchanges. Quote, on July 5, 2024, the rehabilitation trustee made a blockchain transfer of the BTC slash BCH amounts repayable to you as the base repayment and the early lump sum repayment or the intermediate repayment in quote, and that was from a post on Reddit.
That Reddit post details that the email or details the email received by Mt. Gox with Mt. Gox Co. Limited as the rehabilitation debtor and Nobuyaki Kobayashi, attorney at law, as the rehabilitation trustee. Okay. So we knew that that was coming, and we knew earlier yesterday, right as the debacle with the red candles was happening, that these coins had been moved. But now it looks like there has actually been repayment, direct transfer of some of this BCH, BTC stuff directly to the creditors that have been waiting patiently for over 10 years to get their money back. Now we've discussed this before.
That whether or not these guys were going to instantly sell. And it's not clear to me that these guys are actually selling their BTC it would seem to be the is a good assumption that a lot of them are but that begs the question why didn't they just punch out 5 years ago when they could have just sold it to a 3rd party for like I can't remember what it was 70¢ on the dollar? And a lot of people did at that time. And we had the holdouts. And we were thinking that maybe the holdouts weren't you know since they they actually wanted the BTC instead of taking the 70 or 60¢ on the dollar or whatever the hell that that settlement was going to be. But what we what's unclear, at least right now, and and while I'm doing this, a a new story may have broken that proves that, yes, people are actually selling this BTC.
I don't know if they actually are. 1 people looked like they got real squirrely when they saw that 47, 000 BTC move from the Mt. Gox wallet, and that's really when the fireworks show started. And then I had to wait till 10 PM before the actual fireworks in, you know, the nearest city, started lighting up, which was actually a really nice, it was a very nice 4th July celebration yesterday. It's too bad that it was tempered with a bunch of paperhand idiots, selling out their futures. But 1 of the other things about the story that is kinda disturbing, and they're not making it clear, so I may simply be getting this wrong, is they start started saying they they said that repayments are being made to some rehabilitation creditors via designated crypto exchanges.
Some, but not all. Now, later, they start talking about, you know, that there's, that some people need to sign some of those. Let me, look at it. Okay. Repayments to the remaining creditors will be probably made after after after after multiple conditions have been met. So were they were these people are these people that have not been paid yet simply laggards or what we're see, what what I'm getting at is that there's something that worries me. What worries me here is that some people got preferential treatment and were able to get their coins out of Mount Gox before anybody else did so that they could sell. Because if everybody got all their coins all at once and they all sold, then it would be even worse red candles.
So who got preferential treatment if that is in fact the case? And I I I don't know. Gut feeling, this story from Cointelegraph needs to be, there needs to be a lot more detail for me to be sure whether or not it is the case that the Mt. Gox trustee did in fact choose certain people over other certain people to give the coins to first. If if it's the case that it was preferential treatment, then we're just back in fiat land. I mean, and nobody's learned nobody's learned their lesson. Right. So and it dawned on me yesterday as this was going on. Let's say that, you know, that it wasn't just Germany because Germany added, you know, fuel to the fire yesterday as well because they moved yet another, I don't know, $75, 000, 000 worth of of Bitcoin over to the exchanges at the same time that this bullshit was going on with Mt. Gox.
It dawned on me after reading a couple of tweets that people the great guts and and and feathers of of people and this is gonna be really hurtful to hear.
[00:18:17] Unknown:
Most people are fucking stupid. I wish that wasn't the case. I really do. But
[00:18:26] Unknown:
it became painfully evident that as Bitcoin was losing its price holds, shitcoins were getting absolutely annihilated. 15%, 20%, 25% down. We were looking at 5% to 6% down and it was painful. 25% down especially when you're holding a bag of doge or whatever shit coin of which there are 1, 000 of they were all losing their ass. And it immediately became apparent to me that the next day, and this is like I'm looking at my phone last night, and and I realized that today they're going to start buying those altcoins and shitcoins back. And then a really disturbing thought hit me.
That this is how you get people like Bill Gates. This is how you get people like, I don't know, maybe Warren Buffett. I'm not sure. But think of like like, I don't know, Larry Summers. And what I'm getting at is people that we generally or Klaus Schwab. Right? Or that that, Burgermeistermeister burger over there at BIS. This is how we get these kinds of people that really don't have a problem. Elizabeth Warren really don't have a problem stealing money from people. Because I think what's happening is that when these people these people like start out like normal humans and then 1 day they figure out that most of the people on this planet are fucking stupid and that then they say it is my moral obligation to take as much money from these stupid hairless apes that have the bad fortune of falling out of the tree as fast as I possibly can, a moral obligation to steal their money because stupid people should not have things.
It's as disturbing a thought as I've had in a very long time. And it wasn't just because I you know, I was yeah. I'm sure a little upset when when price action looks like this. But it is just cycle after cycle after cycle where the shit coins get completely blown out and yet people come right back in to lose yet more money in the future and it's almost as if I felt that that that poll that said, you should just you should just be an unethical son of a bitch because now you have a moral obligation. Not an ethical obligation to keep them safe. A moral obligation to lift as much of their money off of them as humanly possible, as quick as you possibly can, because they're just going to lose it to somebody else anyway.
Why not lose it to you? I don't like that. I really don't. It's a disturbing thought. I don't like it. It's dark. But I guarantee you, that's how we get some of the people that we don't like anymore. That's why they seem so aloof. That's why they don't look like they care. They don't. They're done. They're done caring. They don't give a shit anymore. They probably tried to help people when they were 10, when they were in their teens, maybe when their early twenties. And they finally just said, you know what? These people are just dumb. They're going to lose their money or they're going to lose their property no matter what the hell I do. So they might as well lose it to me. And boom, bill gates is born let's move on out of that darkness but mount Gox has moved Tom Mitchell Hill is talking about it from Cointelegraph.
The collapse Japanese crypto exchange Mt. Gox transferred 47, 229 Bitcoin worth $2, 710, 000, 000 at current prices to a new wallet address in its first major transaction since May. So, sleeping giant here. Sleeping giant syndrome where we forget something exists and then all of a sudden a whole mountain moves and you're like oh shit! So, according to blockchain analytics, the exchange transferred the bitcoin at 12:30 am UTC on July 5th from cold storage. The movement comes amid the exchanges scheduled plan to repay creditors in July. A total of $8, 500, 000, 000 worth of Bitcoin is slated to be paid back to creditors.
At 4:15 am UTC, July 5th, Mt. Gox moved 1, 541 BTC to the hot wallet of an exchange called BitBank, which is 1 of the crypto exchanges supporting the repayment process. They're using them as a third party, a sort of an arbiter to to make sure that the coins get to, the the the particular people involved. Mt. Gox informed the creditors that it had completed all the necessary steps to begin issuing repayments in July according to a June 24 statement from Mt. Gox trustee Nobuyaku Kobayashi. I cannot pronounce that name for the life of me. Several market commentators voiced concerns over the sheer volume of Bitcoin that could hit the market following Mt. Gox creditors selling their holdings, which have been inaccessible for more than 10 years. However, other analysts work to allay the fears of a massive sell off, saying the total amount of Bitcoin that stands to be dumped on the market is probably closer to the value of around $4, 500, 000, 000 Galaxy Digital's head of research, Alex Thorne, suggested that many Mt. Gox Bitcoin huddlers might be more diamond handed than anticipated.
He highlighted the potential adverse impact of capital gains taxes for those who wish to sell all of their BTC at once. On May 28th, Mt. Gox transferred nearly 7.3. Now this is back in May. This is like remember that there was no movement with Mt. Gox since May? Well, this is the last movement before yesterday's bullshit. On May 28th, Mt. Gox transferred nearly 7, 300, 000, 000 worth of bitcoin to another unknown wallet address and the price of bitcoin dipped as much as 2% afterward because whale watching is is not healthy guys. But that's what this is, is whale watching. The price of Bitcoin fell sharply on July 4th before tumbling lower in the following hours. Yes, we all saw it, so we don't need any more of this.
So there are the times and date stamps of when these movements from Mount Gox actually occurred. And again, I I still don't know if there's actual selling. I I really don't know. I don't I mean, I can't tell. I'm looking at charts. I'm not a TA guy, so I I can't really tell. But 1 of the things that I found very interesting through throughout all of yesterday is that fees stayed really low. I mean really low, like single digit low. Every time I looked at mempool it was 8 satoshis per v byte, 7 satoshis per v byte, 10, you know, get into the double digits. But I wasn't seeing anything like 55 or 405 and it leads me to believe that all of this is just market psychology and sentiment coming into play rather than actual physical sales You understand what I'm trying to say there?
Because if there was so much on chain tech, you know, so much on chain, then fees would have would have skyrocketed. I mean we don't have we don't have the 750 you know exahash per second that we used to have we were sitting around 50550 right it would have jammed up the mempool so either all of this is pure psychology or it's a combination of psychology as well as paper trading via eat all these exchanges you know excel spreadsheets which I don't like I I I I can't do anything about it, but I I would rather it not actually be that way. So let's get away from let's get away from the the happenings of Mount Gox and go over to Germany.
Remember, Germany is part of this bullshit too and I told you yesterday that it's crap that all of this actually occurred while the United States markets were closed, which I sorry, but the United States market for Bitcoin is probably the largest market in the world right now after the BlackRock iShares spot Bitcoin, ETF came online along with the 10 other ones. And they were all closed. They couldn't do anything about it. And by the time the fat lady start stopped singing, there was nothing that they could do. They just had to sit there helplessly and watch, and Germany was part of it.
But at least there's 1 person over in the German parliament that seems to be kinda pissed off about watching their citizenry's wealth be eviscerated by the very people that have been tasked to take care of them. German politician criticizes the government's Bitcoin sell off strategy, decrypt, written by Mertuah Merchant a pro bitcoin member of the German Bundenstag, Jona Kotar, has publicly criticized the government's decision to sell off its BTC holdings. Kotar's stance comes in the wake of 100 of 1, 000, 000 of dollars worth of Bitcoin being transferred from government wallets to exchanges and trading desks, signaling the commencement of a large scale liquidation process.
Already today, the German government has transferred 547.44 BTC worth approximately $30, 000, 000 to market maker flow traders, according to blockchain intelligence firm, ARCEM. This transfer represents a fraction of the government's 41, 000 BTC holdings, currently valued at $2, 270, 000, 000 now. The Bitcoin liquidations have been short sighted according to Cotard, quote, instead of holding Bitcoin as a strategic reserve currency, as is already being debated in the USA, our government is selling on a large scale, she wrote on Twitter. Kotar, an independent, who was a member of the Alternative for Germany party until 2022, has served in the Bundenstaag since 2017, this isn't the first time she's advocated on behalf of Bitcoin.
She's worn a BTC t shirt, oh, for god's sakes, while addressing parliament and made supporting Bitcoin, part of her political platform. In her letter, Kotar emphasized the potential missed opportunity for Germany to position itself at the forefront of financial innovation and economic sovereignty. The letter, which has been translated, was addressed to key government officials, including prime minister of Saxony, Michael Krechmer, federal minister of finance Christian Lindner, and chancellor Olaf Scholz, Kotar argued for retaining and strategically leveraging the seized Bitcoin.
Bitcoin offers a unique opportunity to diversify the state's assets, Kotar wrote, highlighting the potential to reduce risks associated with traditional asset classes. And she further argued for BTC's role in long term value preservation saying its scarcity and deflationary nature could serve as protection against inflation. Quote, a clear legal framework arising from the state's self interest in Bitcoin technology would promote local innovation and, you know, God forbid, entrepreneurship contributing to positive technological and financial development in Germany, she said. She also argued that holding the Bitcoin would help the country attract top talent and foster progress in its financial and tech sectors.
Instead of selling, Kotar proposed developing a comprehensive Bitcoin strategy. This could include retaining Bitcoin in the state treasury, issuing Bitcoin bonds or creating a favorable regulatory environment, she wrote. So at least there's 1 person who has their collective shit about them. And it happens to be this Joanna Kotar. So if you've it it's Joanna Kotar, c o t a r, over there on Twitter. If you wanna I don't know. Lender support, you know. I don't know. Translate English into German and say let's fucking go. Alright. Just before we get into the numbers, I do wanna make mention that we're dealing with according to hold on.
According to the Department of Labor Statistics, the new jobs report came out. 206, 000 jobs have been added in June, but the unemployment rate rose to the highest since November of 2021. What does this mean to you? All the people that are out there that are just thinking that fed is going to lower rates and it's just right around the corner. No it's not. Again I I don't know how I can make this any more forcible of a statement. The Fed is not interested in lowering interest rates. No matter what news hits the wire that you think is good news, it's not good enough for the Fed.
They're not interested in lowering rates. Do not think that they're going to lower rates in July. They're not going to lower rates in August. They might consider it in September and November or through October. But honestly, I don't I I'm starting to lose any kind of hope that even this year we get a rate cut from the federal funds. So, just let that wash over in your head a little bit and let's run the numbers. CNBC Futures and Commodities, but before, anon zapped me 121 sats over on zap.stream and npubones2pj qgq.
Sorry. Your your username is not resolving. But thank you for the 1, 000 sats. Said really enjoyed the chat about Alexandria. Keep up the great work, brother. I got more news about Alexandria coming up in the second part of the show. So thank you to all the rest of the people who for apparently, everybody's in pubs are not resolving in my zap. Stream. I don't know what that shit's about, but let's move on to some, commodity news. Hold on for a second. Speaking of commodities, coffee. That's a good commodity. Oil, West Texas Intermediate is up a quarter of a point to $84.6. Brent Norcea, up scant. 87.48.
Natural gas doing its thing. It's down 3 and a third to $2.33, and gasoline is down scant to $2.60 a gallon. Good luck finding that price. All of the metal rocks are doing a solid move today, including gold, which is up just over a point to $2, 394.40. Silver is up 2 doll oh, 2.85%. Platinum is up 3 a quarter. Copper is up 2 and a half. Palladium is up 1 quarter of a point now that all the markets are actually open today. Biggest winner in agriculture today is looks like it's gonna be wheat. 2.79% to the upside. Sugar or no. Rice just flipped over. 2.7% to the downside, so rice taking it on the chin today. Live cattle up almost a full point. Lean hogs are down a half. Feeder cattle are just kinda trading sideways. Now on over to dashboard.clarkmoodydot com.
$56, 460 is a 1.11 oh, small satchel of Richards. $1, 110, 000, 000, 000 of market cap. We can only get 24 ounces of shiny metal rocks with our 1 Bitcoin of which there are 19, 000, 720 21, 105.49 of. And fees have remained low through the entirety of yesterday. How can I tell? Because the average fees per block, not the standing fees per block right now or per transaction, just the fees per block hasn't budged in over a week. Point, 1, 2 BTC in average fees on a per block basis and speaking of blocks how many blocks are there? 175 blocks carrying 204, 000 unconfirmed transactions waiting to clear at high priority rates of single digits 9 satoshis per vbyte lows at 8 satoshis per vbyte and no priority at all is 4 satoshis per vbyte and anything just over 1 satoshi per vbyte being purged from mempools around the world. Let's look at the hash rate.
502. That's a low hash rate we haven't had a hash rate that low in a very long time in fact we haven't had a hash rate that low since wow. We haven't had a hashrate that low standing for, oh God, a few months. A couple at least 3 at least 3 months. Why? Miners are shutting down. Some of them some of them are at their limit of of how what and how they can operate given the price of Bitcoin as, after yesterday. So they're just turning their miners off and selling the electricity back to the grid if they've got long standing electric usage contracts because they're making more money selling electricity back to the grid off their contract than they are actually producing Bitcoin at this time.
And this is not mining death spiral FUD should be incoming any day now, any hour. I expect mining death spiral FUD for the 4th time to happen directly. I've yet to actually see it occur, which is very very strange, but this will probably ignite mining death spiral FUD. So, be aware that that is incoming. And speaking of incoming, commies of the corn, Bitcoin and episode, what was it? 917, Joseph Joey Joe 5, 000 sats says nothing. Write a note, Joey. Christian Farmer 67 with 3, 000 sats says nothing at all. Dude, Pies with 420 says LFG.
Pies with another 420 says, you're 100% right about Bitcoin Magazine. I felt that way about them for a little over 2 years now. Yeah it's been about about 2 years they really started I mean it really took where Bitcoin Magazine took a wrong turn was ordinals. Now, they were getting a little squirrelly just before that. I gave them a lot of latitude. A shit ton of latitude. Even through the Bitcoin conference, kind of getting a little, I don't know, a little skanky. Sorry. I got no other word for it. Bitcoin conference, the the big 1, the 1 that was always in Miami, and I think this year they're gonna go over to Tennessee.
It's a little skanky nowadays. I I just the lights and the screens and the paint jobs and the color coordination, and it's like, if I wanted that shit, I'd go to South by Southwest, man. Dude, give me a small conference. Any day of the week and twice on Sunday. Chris, wait. What was Chris Hartsold, 16 with a 100, says Vermin Supreme. That's the boot on head dude. Vermin Supreme. I finally remembered his name like way later that day. It was kind of embarrassing. But yes, Chris. Vermin Supreme. That's the dude. Pies with a 100 says, thank you sir. No thank you. Stacy with a 100 says, absolutely nothing.
And Perma Nerd says another interesting show and then post a nostrilink and says thanks for reading that article Have a listen and then all of a sudden there is the fountain. Fmforward/episodeforward/andthenawhole bunch of gobbledygook and that actually ends up being the URL for this particular episode. Not not this 1. The the 1 that I posted yesterday, because, you know, I I don't mind working on July 4th. Anyway, the point is, there's no boost to it. I had asked in yesterday's show that could somebody take the fountain.fm and just post it in a note somewhere along somewhere in nostr to see if because that URL is carried in somebody else's note not linked to my fountain account whether or not that it would come through into the boost of the show and sure enough it looks like Perma Nerd took the bait and did it.
And, well, I don't want to say take the bait but I don't know. Well, he he he played the guinea pig and he tried it out and sure enough it looks like if you just post the fountain.fm link anywhere on Nostor that whatever note or whatever thing that that you're posting it with, like whatever, like, if you write like, hail have a good morning and then you post, like, the fountain dot f m link to my show and I I guess somebody else's show, that it goes to our respective fountain.fm accounts for lack of a better term. Thank you, Perma Nerd. That is 1 more piece of evidence that I was looking for. That's the weather report.
Welcome to part 2 of the news you can use. I got a couple of, boost over here or, some messages over here in zap.stream that I wanted to read. BTC Nosternoobie is asking, this may be weird to ask, but what's your take on crypto scammers using XMR and BTC for money laundering? Don't encourage it. I just wanted your take on it. That's all. I don't know if that actually is happening. I mean okay. Look. Let me back up. Of course, it's happening. I just can't see it. I mean, it's like, you know, it it it if they want it if first of all, Monero, which I'm pretty sure that's XMR, What can I say? It actually it's actually got more privacy protection than Bitcoin does, but it's a shit coin. I don't own it. I don't use it. I don't need it. I don't prescribe anybody ever have it for any reason whatsoever
[00:42:06] Unknown:
And money laundering, you're at 1 point or another, you're probably gonna get caught. And the only way that you won't get caught
[00:42:16] Unknown:
is if the United States hegemony falls. Because apparently the United States is the only people that's competent enough to actually figure out shit. Germany, next up, UK after that. But when we start getting into, like, the, you know, underneath the top 10 countries and their financial regulations, I don't think they have the equipment to really discover whether somebody's money, you know, laundering money or not until it gets to amounts where it's becomes fucking obvious. Right? I don't recommend money laundering I just I I don't if they want to do it I okay if you know how to if you know how to wash that shit more power to you, I guess.
But eventually, you're probably gonna get caught, and I guarantee you you you don't wanna be having money laundering charges under uncle Sam's department of justice. Now, Alexandria. Project Alexandria was mentioned. I've got a note here from Michael Jay, and I'm gonna throw this 1 up in the in the window here so all the people can see it. It's a note from Noster, and I'm guessing Michael j is part of the is part of the crew over there. Let me actually just kind of verify here. Some Noster stability advocate. And he doesn't say whether or not he's he is specifically on the, Git citadel aka project Alexandria project.
But he says, work in progress image of the Alexandria client's article view. Liminal's code fetches a collection of kind 3 41 notes indexed by kind 340 notes and bundles them together into an article. Each kind 341 note is rendered as a subsection as illustrated by the highlight on hover. A table of contents will allow users to jump between headings within the article. A bit down the road we can add highlight and command functionality on individual kind 3rd 341 notes within an article. What the hell was that? Well, let me just expand this.
What he's saying is that they're using a particular note kind like an event. Like event 1. Right? Where I just write good morning. That is an event of kind 1 note on Nostra protocol. There are many event kinds on the Nostra protocol and they're working with 2 specific ones that they've outlined 340 and 341. Right? So those are the note kinds that they're using for this particular project at the moment. And what looks like they've done is they're using 1 kind to actually be a shorter embedded kind within another kind. It's not exactly that way but what it how this thing functions is that 1 kind can be the longer article.
The other kind can actually act even though it's a nostril note it actually acts as in this particular case a standalone part of a table of contents so like chapter 1 is a kind, and let's see which kind was that. Fetches a collection of kind index by and bundles them together. So, this kind the highlights that he's talking about looks like it's 340 or kind 340, and that that actually plugs back into the longer version of what it's trying to say which is the event kind 341. In either event, it basically makes a digital book is is what they're building over there at Project Alexandria.
They're at the very start of this of of this project, and they're bringing the bible to life. But now they're actually doing some other stuff. If you're not sure about Project Alexandria, you can go listen to, yesterday's show, and I've talked about it a couple of other times. This you cannot sleep on project Alexandria also on nostr if you want to start linking into the people that are behind this atgitcitadel all 1 word atgitcitadel again just for those in the back at get citadel do not sleep on this Pablo I you know what I'm talking about for the rest of you who I thoroughly confused a my apologies be it's really hard to describe especially in audio format because I really try to keep it to where you don't have to sit and watch the show you can go gardening or you can take a walk or go for a bike ride or wash the dishes or do freaking laundry which never seems to quit along with the dishes I want it to be that way but because of that I I'm trying to get better at my explanations here but these are very this is a very difficult, topic to explain.
When you see it, it becomes evident. So let me try it this way the kind 340 Nostra protocol event type is being used, in this case, as a table of contents. But each event kind 340 acts as chapter 1 and then another 340 acts as chapter 2 and when you're looking at it on a computer screen those notes are kind of stacked up on top of each other like you're reading a table of contents from any regular book chapter 1 chapter 2 and then chapter 3 is under that chapter 4 is under that and then it gives you the page number But in this case, when you drag your cursor across it, it highlights chapter 2 or whatever the name of the chapter might be as a kind 340 note and when you click it it sends you to the associated kind 341 note which is the entirety of the chapter now it seems like a very long you well why not just use ebooks Because my ebooks can be taken off of my Kindle by Amazon at any time.
At any time. They decide that they wanna ban forever Tom Sawyer as they've done in the past, not Amazon, but, well, I think Amazon has done that. But libraries and congresses and teachers. There's been many times that Samuel Clemens book, Tom Sawyer, as well as Huckleberry Finn, have been banned. You can't find it. You can't get it. If you were lucky enough to hold a physical book at the time that it was banned and you didn't give it up, you were fine. You had that book. But now that we have e readers, uh-uh. No. Nobody's library is safe. That's why you cannot sleep on project Alexandria. You just can't do it. And then, Sybil actually says something to this Michael j note. I'm not gonna read it, but I'm gonna put it up for the guys over on ZapStream to hopefully encourage people to come over to ZapStream.
But now, as if that wasn't a project that you didn't wanna sleep on enough, here's a completely different 1 that just hit the wires yesterday as far as I can tell. Inpub. Pro, a Nostr based website for creators. Okay. Let's I'm going to try to be very careful with this 1 because this 1 again it's too important to sleep on. Npub. Pro lets users create personal websites from their Nostr content. It's free for anyone getting started, it's open source, and self hostable. It's built by the nostr.band team. Please welcome Npub. Pro. This is a tool to make yourself a beautiful nostril based website. It's been a long time in the making, and we're thrilled to launch it on this special day announced at brugeman, brugeman.
Quote websites are noster events again I'm going to read the first part of that sentence so that you don't sleep on it websites are Nostra events. Let me fully pause here to relate this back to Project Alexandria and the 340 event kind note versus the 341 event kind note. The 340 note or event type links directly to the full chapter that it represents the 341 event type this is a whole website almost like I'm looking at it as a completely different type of event type. Websites are Nostr events Not Nostr based. No. The whole fucking website is an event. I don't know how much more I can make it clear. The themes are open sourced ghost themes published on relays and blossom servers. Jesus.
Npub. Pro does not host your data, it only hosts the code to convert nostril events to web pages explains the project's Q and A section while this has been a long time in the making we're still in the early beta stage. Some stuff may be rough, won't work properly and features may be missing. Content management is still a work in progress. Please be patient. We're autistic. It doesn't actually say the last part. As was stated in the announcement, we will host your website for free on your name.npub.pro address. If you want to attach a custom domain and get other benefits, you can switch to a pro plan you can also self host a Nostra site all of the data is on relays the engine is open source and there is no migration it just works anywhere the project said so here's the key features Pick a theme that fits your audience and your preference.
Sounds a lot like, what oh, god. The plugins for wordsmith or whatever the hell that WordPress. It's like a WordPress program, plugin is what it sounds like. You're not limited to showing your content on 1 particular client. Links, shareable links to your website look amazing when shared on social media and messenger apps. Great great place for conversion. A place to attract your audience and measure outcomes using existing web tools I guess that means that metrics are embedded somewhere there's no complex hosting maintenance or security issues your content lives on relays themes are nostril relays on and blossom servers no matter what your site always works Already published on Nostr? Well, npub. Pro displays your Nostr content and you choose which type of content to display. Kind of works like an app. Your website is a progressive web app that can be added to your home screen and it works offline.
You can post from any Nostra client. No need to log into a content management system to check for comments. Everything is on nostr, so it just works from any client. It's SEO or search engine optimization friendly. Your content has proper meta tags and your website is rendered on the server to make sure that search engines love it. Self host if you like. You can use our scalable hosting infrastructure or switch to any file hosting like GitHub Pages. It's interoperable as well. Your website is a nostr event proposed in NIP 5 12.
Themes are proposed NIP or NIP 136. Our engine is open source, live Nostr site and that is website. Github.comforward/nostrbandforward/libnostr site. So it's a and all of these things that I read you today links will be in the show notes and pod home dotfm is doing a really good job making those links look good finally, because SoundCloud was just screwing me over. I I don't really know what to say about this. I don't because I'm kind of I'm kind of befuddled.
[00:55:09] Unknown:
And the reason is because I don't
[00:55:14] Unknown:
I try my hardest to make sure that I really understand the importance of of of something that I'm looking at. So I can go, oh, well, you know, not that important. I'm not don't have to worry about it that much. Or I find something you go, wow, that's that that's a game changer. This is a game changer. But I I don't know how far that how deep that rabbit hole is. I it it's not only just because of what it is in itself, where when it says websites are disaster events, that 1 phrase that 1 phrase all by itself should have you go you should literally be doing the whole evil scientist shit right now if it is absolutely 100% true that a website is a nostril event then you can kiss 80% of legacy media goodbye and we don't have to worry about the gatekeepers any longer they're already dead they don't know it yet but what's worse we don't know it yet and things like project Alexandria and in pub was it like make sure that I've got it right in pub dot pro that's in pub dot pro nah n pub dot pro nostr based websites for creators Now, I've tried it and I'm going to see if I can't get it up there. Let me see. And I thought I actually had in pub dot pro. I thought I actually had it up and ready to go. Maybe I do. Hold on for a second. Nope. I can't get it from there.
[00:56:53] Unknown:
Let's see. My sites. Oh, wow. Look at that. Okay.
[00:57:01] Unknown:
So I'm at npub.proforward/admin. And it looks like I'm already logged in, because I was like do playing around with this thing yesterday. And I've come up and the remember these things are all of these things are changing. I've I've already discovered that something that I had planned, for a couple of minutes from now is probably not going to work because something has changed. We'll get to that. But here, I I'm at this forward slash admin on npub dot pro and it says, your websites and I can have this and I have a log out button, so I am definitely logged in and I have 1 single URL and it's, none you business dot in pub dot pro just like they promised and it highlights it's a little it's a little box and it's it's got a u it says URL. It gives my URL.
It's got my it's a little box with my, avatar. It's got my avatar name. It's got everything about it. So, I'm going to click it and oh. It takes me to a dashboard. And none of it is now I've got a little button that says open website. Okay. So, we'll see what happens because this is all changed from yesterday. The XML file does not appear to have any style information associated with it. This the CMS version the CMS portion of this is all jacked up. That's okay. I'm not mad. I am I am gleeful. I can I this is amazing? If this shit works, I I don't know I don't know how much gravity I can import to you on this. So, I'm going to leave this alone.
I'm going to go I'm going to go away from in pub and we're gonna go to satanomics. Satanomics. I swear to God I've brought you news about satanomics before, but it just hit no bullshit Bitcoin yesterday, so I'm going to do it again. Satanomics, a free and open source software Bitcoin only alternative to glass node. It's a self hostable if you want it to be. It's self hostable suite of tools that computes, distributes, and displays on chain data making it freely available for anyone to use. Now I'm going to pause here. Glassnode is a very expensive tool and people like Willie Wu use it. And if you don't know who Willie Wu is, he's very well known trader over on Twitter.
He has a tendency to sit down with Peter McCormick a lot. He's well known. Right? He's a well known dude. Uses Glassnode. Probably pays through the nose for it. I don't know how much it costs but I know Glassnode is not giving up their shit for free. According to this, this takes the place of of Glassnode and not only is it free, you can self host it if you want to, quote, I'm very pleased to finally and officially share with the world satanomics which is a suite of tools that computes, distributes and displays on chain data. The generated datasets are very heterogeneous and can be used for many different purposes.
In a nutshell, you can view this as, the FOSS and self hostable version of Glassnode and thus a complimentary tool to mempool.space. I've been working for a long time now and quit my first job to work on this full time since November of 2023. I strongly believe that it is a very that it's very important that anyone should have full access and free access and be able to verify and visualize any kind of data from the network. And so, you'll find many of the charts and soon dashboards or routes through an API if you prefer it raw to do anything from doing a health check, gain insight into the current or past state of the network, or even trading. I don't care. Do what you want. I realize it's not as exciting as e cash and nostril or Bitcoin tools, but it can be something that knee or it has to be it's something that needed to be done. We cannot have fiat minded $700 a month closed tools like glass nodes being the go to. So, that answers my question.
Glass node for a full subscription cost $700 a month. Do you have $700 a month?
[01:01:24] Unknown:
Even if I did, I'm not gonna give it to Glassnode. And
[01:01:29] Unknown:
let's go through the rest of it because it it it it's it's this is important again the project is in very early stages and the web app will have bugs it does have bugs the API might break and the data can definitely be false or slightly false the project is split into 3 parts a parser, a small server which automatically creates route access through the API, and a web app which displays the generated datasets. Okay. So this thing is phenomenal. It's so phenomenal in fact. Let me make sure. Okay. That's a different deal. So phenomenal that I'm going to throw it over here so that we can look to see what the hell is going on. If you look over here, okay, so it's a website for those in the audio.
At first glance, it throws up a price chart. Well, I can get that from TradingView. Yeah, but can you get the let's see. Can you get with 1 click of a button, are you able to actually get and extract all of the information for the averages, like the 200 day moving average? You got a 1 week moving average? Well, this 1 I've got a 1 week, an 8 day, a 13 day, a 21 day, a 1 month, a 30 4 day, a 55 day, an 89 day, a 144 day, a 1 year, 2 year, 200 week, and a 4 year. All of the lines are represented together given the price data and this all is being crunched on my machine how do I know because my GPU fan just started freaking going nuts and if you look if you go to and it's app app.satanomics.xyz that's app.satanomics dotxyz you can play with it too but that's it's not just price there's there's stuff about the weekly sum of mind blocks.
There is what else is in here? There's realized, realized price or a rather realized capitalization of addresses by size, and I'm looking at capitalization of the size of wallets that are known as plankton, which is people like with basically like, you know, a couple of 100, 000 satoshis. If I scroll down and I'm just scrolling down the left hand view, vaulted supply. What is that? Looks like the vaulted supply is mean, we're talking like there's a like there's gotta be at least a100 I mean, we're talking like there's a like there's got to be at least a 100 different things that you can look at. And I'm just scratching the surface. And by the way, it looks like let's see if I go to nostril it basically takes it's got a nostril button and it takes me directly to yeah. Satanomics.
Xxy or the satanomics, nostril account. The the nostril in public takes takes me directly there so that I can go support this guy. I this it's like having Glassnote for free. Okay? So go over to app. Satonomics. Xyz and then go over to find satonomics over on Noster and give that account a follow. You don't want to sleep on a tool like this. Now, keep in mind, all this shit's beta, All this shit's gonna break. Some days you're gonna go to it when you really need it. It's not gonna be there for you. Stop getting pissed about shit like that. All of us are in very, very early days. My god, my fan is just going nuts.
Now, let's see if I can do this real quick for you. Hornets, h o r n e t storage. It's a multimedia nostril relay. And hornets stands for hash organized relay network enabling tamper resistant storage. I'm reading from the hornet storage, Github. The multimedia Nostra Relay supports chunked files with psionic Merkle trees, which I don't know what that means. I know what'smerkle tree is, but I'm not sure what psionic is. And un chunked files with Blossom. Here comes Blossom again. With or in a modular way, allowing operators and here's the gist to configure what they want to store. This is a front end to your Nostra Relay, if you want to run a Nostra Relay. It allows you to lift yourself out of command line or CLI stuff and get into a graphic user interface that allows you to say: I only want to host JPEG files.
I only want to have these kinds of notes, and but it's it's, you know, it's a way for you to configure your relay in a graphic user environment, but it's got a lot of stuff on the back end. But as as far as when you first open it to look at it, it is definitely something that you like a bumper that you put on to your relay as a car so that you can address your car in a or your nostril relay in a much easier manner that's why things are called a front end so I asked the developer who is colby serpa clearly on nostr and I asked him a question. I say, is this a GUI or graphic user interface to configure and keep tabs on my own relay?
And he says, yes and to configure it. So he's kind of answered that I kind of answered that question for myself but this is a way for you to interact with your relay and this is what I had always wanted when I first saw that the guys over at my node BTC allowed me the option to spin up a nostril relay but there was no interacting with it And even the 1 that I've got on my start 9, I can't really interact with it. I mean I I could if I had the, you know, better computer chops but I don't. I am a guy that's a visual guy. I love graphic user interfaces even though most developers hate them because they eat so much memory compute cycles they get a little they get a little weird there's I mean so I understand that but the developers if you guys will listen to people like me that say I really like interacting with something that's highly technical
[01:08:24] Unknown:
in a way that's got switches buttons and knobs
[01:08:28] Unknown:
that's just sort of the way that I work and this is what this does It gives me switches, buttons, and knobs, and it plugs it. It's basically, it's like a faceplate to my nostril relay. And it says, oh, I basically, it says, I see you have got a nostril relay. I'm going to, like, literally let you configure this nostril relay, not anybody else's with switches, buttons, and knobs. So, go check that shit out as quick as you possibly can. And lastly, locust. I just wanted to mention it's not anything to do with Nostra and Bitcoin, but it is free and open source. It is a free and open source app for Android and iOS that allows you to share your location live.
Oh my god. Why would you do that? Because it encrypts your location end to end, meaning that no 1, except the people that you choose to see your location, can actually see your location. Again, all of these. All of the links to everything and I'm actually reading this from a GitHub all of these links will be in the show notes. So, if you're interested in having an app on your phone that allows you to give your location only to on an end to end encryption basis to people that you trust, then go to the show notes, find this link. It's GitHub forward slash myzel394.
It's Mizel is the guy's name. Mizel 394. And lastly, OpenSats grants long term support for Russ Nostra maintainer, Yuki Kishimoto. Let's see. He is the maintainer and creator of Rust Noster, which is obviously a Rust implementation of the Noster protocol. He also has contributed to other projects. So he's he says that he's honored to have been selected. You've realized my dream working full time on open source projects as an independent developer. Thank you so much. OpenSats and donors, Yuki said in a response. So Rust implementation of Noster, we need as many implementations of all these things, Noster, Lightning, eCash, Bitcoin that we can possibly get our hands on.
So that will do it for the show and I'm going to just go ahead and can it right here and say that I will see you on the other side. This has been Bitcoin, and and I'm your host, David Bennett. I hope you enjoyed today's episode and hope to see you again real soon. Have a great day.
Good morning. This is David Bennett, and this is Bitcoin and, a podcast where I try to find the edge effect between the worlds of Bitcoin, gaming, permaculture, podcasting, and education to gain a better understanding of all. Edge effect is a concept from ecology describing a greater diversity of life where the edges of 2 systems overlap. While species from either system can be found at the edge, it is important to note there are species in the overlap that exist in neither system, and that is what I seek to uncover. Uncover. So join me in discovering the variety of things being created as Bitcoin rubs up against other systems. It is 9:30 AM Pacific Daylight Time. It is the day after independence day in the United States, 5th July 2024.
And this is episode 918 of Bitcoin, and my cat is back. My cat went on a little kitty adventure. And it's kinda poignant enough that I wanna spend just a few, couple of minutes this morning kinda going off on what actually occurred a couple of weeks ago. My favorite cat. Not just any cat. I mean, I got I got 3 cats. And I love them all. Don't get me wrong. This particular cat. Love this cat. I don't know why. It's just 1 of those things. In order for a cat to be a cat, you kinda got to let a cat do what a cat wants to do. And this particular cat wants to go outside.
The other cats, not so much. Also, I've never had a cat that would hold a collar. Every time we put a collar on a cat within a couple of days, that collar is just gone. We can't even find it. Right? So the only other option is chipping a cat, which I'm kinda loathed to do, but I would rather chip a animal than than a human being. But that's aside. So I got a cat, favorite cat. It's a rescue kitty, founded in Canyon as a itty bitty kit kitten. Totally not weaned at this point, Except that its face was her face was just crusted with tears. You know, like the she's just her her tear ducts just go on and on and on. And that shit continues to this day. But when she was a kitten, it looked like her mother abandoned her because she probably had some kind of disease. And it turns out that that she does, but it's not life threatening.
It's feline herpes virus. H h was it? F f h v. Yeah. F h e. She's got herpes, but it's not life threatening. It's not contagious. It happens. I had her took her to the vet when we were getting her cleaned up. We saved her life. We bottle fed her fed her. I mean, the whole 9, dude. We got the fleas off of her. She was gonna die. This cat was gonna die. So, you know, we fast forward to a couple of weeks ago when she had been going outside. I'm good with that, kinda, except that 1 day she just disappears. Not not a hair to be seen. And stayed gone. Now usually after about a week and a half, I just completely give up hope. I put posted to Facebook, called the animal control to see if they'd picked up any cats. You know, you you do the standard stuff, but after about a week and a half, chances of you getting your animal back are are really really slim. Alright. So
[00:03:36] Unknown:
I finally get an email from the Facebook post that I put up on the, you know, the,
[00:03:42] Unknown:
area wide Facebook for, group for lost and found pets. Sure enough, this guy emails me and says, think you got your cat. Sent me pictures, and I'm like, yep. That's my cat. So I say, okay, you know, where where are you at? And, or or bring the cat over or I'll come over to you, whatever. He goes, I'll I'll be over in a minute. So I I, you know, I I give him the address. And we you know, I I figured that we live pretty close. We're, you know, fairly, you know, not too terribly of a distance away from each other. I go outside just waiting for the dude, you know, having a having a cup of coffee. And I noticed these 2 this couple, coming across the street.
They were our neighbors, Like, 3 houses down and across the street. And I was like, what I go, what's you know, what's going on? I'm not mad. I'm just happy to see my cat. It turns out that my cat had visited their yard a couple of times. And on the 3rd time that my cat visited their yard because she's outside cats roam they decide to take her to the vet see if she's got a chip okay well that's that's cool when they found out that she didn't have a chip they boarded her they put her in a kennel at the vet for over a week while they went on a honeymoon.
So they had just found a cat. Let's just not even let's forget the fact that it's my cat, that I've lost this cat. They have no idea that it's anybody's cat. They just find this cat. They take it to the vet after a couple times seeing it in their yard. And then instead of taking it home and nurturing it or doing whatever, they shove it in a kennel to go on their Hawaiian honeymoon for like a week.
[00:05:35] Unknown:
So they give me my cat back.
[00:05:39] Unknown:
I'm not even going to ask them. You know, I'm really kind of steamed at this point. Yeah. I should be more mad. I'm really polite to them. I'm very thankful. All I give a shit is about having my cat back. But at great financial expense, especially during these times now with the with inflation the way it is, it's we've gotta be looking at a $700 bill, minimum, from the vet visit to putting her in a kennel and all that stuff because then, like, you got for I think bordetella is also a thing with cats, so they gotta be vaccinated on that before they get before they get boarded up.
Gotta be gotta be expensive. I'm not even gonna ask to help. I'm like, I didn't ask for this. I didn't ask for you to take my cat because my cat just happens to be outside and is roaming around doing what cats do for you to wrongfully imprison my cat for a week. And then now now she's, like, literally has taken an entire day to put herself back together, figure out where she was. I mean, it was weird. She was acting really strange. She's calmed down, but man so the lesson of the story is this. If you see an adult cat, not a kitten, If you find an adult cat on your property and it doesn't have a collar and it's really, really sweet and comes up and it's purring and you're petting it and it's, like, really easy with you and it's not attacking you, that's somebody's pet.
It is either lost or it belongs to 1 of your neighbors. So here's what you don't do. You don't see the cat, and on the 3rd occasion of seeing the cat, take it to a vet and then board it so that you can go on your honeymoon. So that you can traumatize the cat, keep her away from all of her little kitty friends, her little doggy friend, and her family for over a week at and then pay $700 for for it's ridiculous. I I don't even know what to say about this. It it's like, I mean, I get that they're a young couple, but honestly, even I've known this for years.
If the cat is friendly then it's somebody's pet if it's lost you take it you you either you call animal control you call like some vets you find out if somebody's looking for it you put on you then you go to the Facebook groups nowadays but you don't just automatically shove it in a kennel so that you can go on your honeymoon. I mean, it's it's it's shitcoin behavior. This This is why we have shitcoinery and why we can't have nice things. Unlike what we have in the Circle P, Circle P is open for business. And today, as usual, for the entirety of the week has been Sheeshi 21m bringing you the hot conferee route. That's right. You can get conferee route. And if you wanna know why you want this route, you're gonna wanna listen to episode 726 of Bitcoin. And there will be a link to the fountain show or episode right down in the show notes. Please go listen to it. I do an entire show just on why you want comfrey so that I don't have to go into it here. But the what I will say is that you're buying this route not for a 1 time deal, like you're gonna grind it up and do medicine or do all the wonder other wonderful things that you do with it. No. You're using this. It's a live route. You will plant it where you want it to go. It will stay there forever. It is perennial. It will never die. And it also won't spread. And it's medicine, it's compost, it's mulch, it does all these wonderful things.
If you wanna learn more, episode 726 of Bitcoin and, she she [email protected]. S h I s h I, the numbers 21, letter [email protected] to order a full root which will sprout almost instantaneously after you plant it for $20. Or you can get root cuttings which will take a little longer to sprout, sometimes as long as 7 weeks. Most of them will come up within a week to 2 weeks. Those are a buck a piece. You'll pay shipping. Make sure you tell shi [email protected] that I sent you from the circle p, and he will get me some satoshis back on the backside for making them a sale.
Let's move on into the news. And we've got some, and we're going to start with clearly, some of the chicanery that occurred yesterday on on Independence Day. Mount Gox began repayments in Bitcoin and Bitcoin Cash. And this is what was 1 of the issues going on yesterday that caused gigantic declines in price. And it's brought to you by Cointelegraph Josh O'Sullivan is writing. Mt. Gox, the collapsed crypto exchange, has begun repaying its debts in Bitcoin and Bitcoin Cash. Repayments are being made to some rehabilitation creditors via designated crypto exchanges per its rehabilitation plan, according to a Twitter post by the Mt. Gox balance bot account.
The total Bitcoin balance on all known addresses of the Mt. Gox trustee is 94, 457 BTC with 47, 288 being moved from these addresses since. The repayments to the remaining rehabilitation creditors will be promptly made after multiple conditions have been met. These conditions include confirming account validity and the creditors' acceptance of the intent to subscribe to the agency receipt agreement by designated crypto exchanges in addition to assuring repayments being made safely and securely. Discussions regarding repayment procedures between the rehabilitation trustee and the exchanges must also be completed.
Mt. Gox was founded in 2010 by Jeb McCaleb and was 1 of the largest BTC exchanges handling 70% of all global BTC transact transactions at its peak. And McCaleb sold that son of a bitch to Mark Carpelis in 2011. He, Jeb McCaleb, started it and sold it within a year. I didn't realize it was that quick. I I I thought Jeb had that thing a little bit longer than that. But, whatever. In early 2014, the exchange suspended all BTC withdrawal, citing technical issues, but later it revealed that approximately 850, 000 BTC was lost due to a long standing security breach.
After filing for bankruptcy in February of 2014 with liabilities far outweighing its assets, the case shifted to civil rehabilitation in 2018, and Carpelles was convicted of falsifying financial records in 2019. According to several Reddit posts and users, BTC and Bitcoin Cash have begun to be repaid and credited to exchanges. Quote, on July 5, 2024, the rehabilitation trustee made a blockchain transfer of the BTC slash BCH amounts repayable to you as the base repayment and the early lump sum repayment or the intermediate repayment in quote, and that was from a post on Reddit.
That Reddit post details that the email or details the email received by Mt. Gox with Mt. Gox Co. Limited as the rehabilitation debtor and Nobuyaki Kobayashi, attorney at law, as the rehabilitation trustee. Okay. So we knew that that was coming, and we knew earlier yesterday, right as the debacle with the red candles was happening, that these coins had been moved. But now it looks like there has actually been repayment, direct transfer of some of this BCH, BTC stuff directly to the creditors that have been waiting patiently for over 10 years to get their money back. Now we've discussed this before.
That whether or not these guys were going to instantly sell. And it's not clear to me that these guys are actually selling their BTC it would seem to be the is a good assumption that a lot of them are but that begs the question why didn't they just punch out 5 years ago when they could have just sold it to a 3rd party for like I can't remember what it was 70¢ on the dollar? And a lot of people did at that time. And we had the holdouts. And we were thinking that maybe the holdouts weren't you know since they they actually wanted the BTC instead of taking the 70 or 60¢ on the dollar or whatever the hell that that settlement was going to be. But what we what's unclear, at least right now, and and while I'm doing this, a a new story may have broken that proves that, yes, people are actually selling this BTC.
I don't know if they actually are. 1 people looked like they got real squirrely when they saw that 47, 000 BTC move from the Mt. Gox wallet, and that's really when the fireworks show started. And then I had to wait till 10 PM before the actual fireworks in, you know, the nearest city, started lighting up, which was actually a really nice, it was a very nice 4th July celebration yesterday. It's too bad that it was tempered with a bunch of paperhand idiots, selling out their futures. But 1 of the other things about the story that is kinda disturbing, and they're not making it clear, so I may simply be getting this wrong, is they start started saying they they said that repayments are being made to some rehabilitation creditors via designated crypto exchanges.
Some, but not all. Now, later, they start talking about, you know, that there's, that some people need to sign some of those. Let me, look at it. Okay. Repayments to the remaining creditors will be probably made after after after after multiple conditions have been met. So were they were these people are these people that have not been paid yet simply laggards or what we're see, what what I'm getting at is that there's something that worries me. What worries me here is that some people got preferential treatment and were able to get their coins out of Mount Gox before anybody else did so that they could sell. Because if everybody got all their coins all at once and they all sold, then it would be even worse red candles.
So who got preferential treatment if that is in fact the case? And I I I don't know. Gut feeling, this story from Cointelegraph needs to be, there needs to be a lot more detail for me to be sure whether or not it is the case that the Mt. Gox trustee did in fact choose certain people over other certain people to give the coins to first. If if it's the case that it was preferential treatment, then we're just back in fiat land. I mean, and nobody's learned nobody's learned their lesson. Right. So and it dawned on me yesterday as this was going on. Let's say that, you know, that it wasn't just Germany because Germany added, you know, fuel to the fire yesterday as well because they moved yet another, I don't know, $75, 000, 000 worth of of Bitcoin over to the exchanges at the same time that this bullshit was going on with Mt. Gox.
It dawned on me after reading a couple of tweets that people the great guts and and and feathers of of people and this is gonna be really hurtful to hear.
[00:18:17] Unknown:
Most people are fucking stupid. I wish that wasn't the case. I really do. But
[00:18:26] Unknown:
it became painfully evident that as Bitcoin was losing its price holds, shitcoins were getting absolutely annihilated. 15%, 20%, 25% down. We were looking at 5% to 6% down and it was painful. 25% down especially when you're holding a bag of doge or whatever shit coin of which there are 1, 000 of they were all losing their ass. And it immediately became apparent to me that the next day, and this is like I'm looking at my phone last night, and and I realized that today they're going to start buying those altcoins and shitcoins back. And then a really disturbing thought hit me.
That this is how you get people like Bill Gates. This is how you get people like, I don't know, maybe Warren Buffett. I'm not sure. But think of like like, I don't know, Larry Summers. And what I'm getting at is people that we generally or Klaus Schwab. Right? Or that that, Burgermeistermeister burger over there at BIS. This is how we get these kinds of people that really don't have a problem. Elizabeth Warren really don't have a problem stealing money from people. Because I think what's happening is that when these people these people like start out like normal humans and then 1 day they figure out that most of the people on this planet are fucking stupid and that then they say it is my moral obligation to take as much money from these stupid hairless apes that have the bad fortune of falling out of the tree as fast as I possibly can, a moral obligation to steal their money because stupid people should not have things.
It's as disturbing a thought as I've had in a very long time. And it wasn't just because I you know, I was yeah. I'm sure a little upset when when price action looks like this. But it is just cycle after cycle after cycle where the shit coins get completely blown out and yet people come right back in to lose yet more money in the future and it's almost as if I felt that that that poll that said, you should just you should just be an unethical son of a bitch because now you have a moral obligation. Not an ethical obligation to keep them safe. A moral obligation to lift as much of their money off of them as humanly possible, as quick as you possibly can, because they're just going to lose it to somebody else anyway.
Why not lose it to you? I don't like that. I really don't. It's a disturbing thought. I don't like it. It's dark. But I guarantee you, that's how we get some of the people that we don't like anymore. That's why they seem so aloof. That's why they don't look like they care. They don't. They're done. They're done caring. They don't give a shit anymore. They probably tried to help people when they were 10, when they were in their teens, maybe when their early twenties. And they finally just said, you know what? These people are just dumb. They're going to lose their money or they're going to lose their property no matter what the hell I do. So they might as well lose it to me. And boom, bill gates is born let's move on out of that darkness but mount Gox has moved Tom Mitchell Hill is talking about it from Cointelegraph.
The collapse Japanese crypto exchange Mt. Gox transferred 47, 229 Bitcoin worth $2, 710, 000, 000 at current prices to a new wallet address in its first major transaction since May. So, sleeping giant here. Sleeping giant syndrome where we forget something exists and then all of a sudden a whole mountain moves and you're like oh shit! So, according to blockchain analytics, the exchange transferred the bitcoin at 12:30 am UTC on July 5th from cold storage. The movement comes amid the exchanges scheduled plan to repay creditors in July. A total of $8, 500, 000, 000 worth of Bitcoin is slated to be paid back to creditors.
At 4:15 am UTC, July 5th, Mt. Gox moved 1, 541 BTC to the hot wallet of an exchange called BitBank, which is 1 of the crypto exchanges supporting the repayment process. They're using them as a third party, a sort of an arbiter to to make sure that the coins get to, the the the particular people involved. Mt. Gox informed the creditors that it had completed all the necessary steps to begin issuing repayments in July according to a June 24 statement from Mt. Gox trustee Nobuyaku Kobayashi. I cannot pronounce that name for the life of me. Several market commentators voiced concerns over the sheer volume of Bitcoin that could hit the market following Mt. Gox creditors selling their holdings, which have been inaccessible for more than 10 years. However, other analysts work to allay the fears of a massive sell off, saying the total amount of Bitcoin that stands to be dumped on the market is probably closer to the value of around $4, 500, 000, 000 Galaxy Digital's head of research, Alex Thorne, suggested that many Mt. Gox Bitcoin huddlers might be more diamond handed than anticipated.
He highlighted the potential adverse impact of capital gains taxes for those who wish to sell all of their BTC at once. On May 28th, Mt. Gox transferred nearly 7.3. Now this is back in May. This is like remember that there was no movement with Mt. Gox since May? Well, this is the last movement before yesterday's bullshit. On May 28th, Mt. Gox transferred nearly 7, 300, 000, 000 worth of bitcoin to another unknown wallet address and the price of bitcoin dipped as much as 2% afterward because whale watching is is not healthy guys. But that's what this is, is whale watching. The price of Bitcoin fell sharply on July 4th before tumbling lower in the following hours. Yes, we all saw it, so we don't need any more of this.
So there are the times and date stamps of when these movements from Mount Gox actually occurred. And again, I I still don't know if there's actual selling. I I really don't know. I don't I mean, I can't tell. I'm looking at charts. I'm not a TA guy, so I I can't really tell. But 1 of the things that I found very interesting through throughout all of yesterday is that fees stayed really low. I mean really low, like single digit low. Every time I looked at mempool it was 8 satoshis per v byte, 7 satoshis per v byte, 10, you know, get into the double digits. But I wasn't seeing anything like 55 or 405 and it leads me to believe that all of this is just market psychology and sentiment coming into play rather than actual physical sales You understand what I'm trying to say there?
Because if there was so much on chain tech, you know, so much on chain, then fees would have would have skyrocketed. I mean we don't have we don't have the 750 you know exahash per second that we used to have we were sitting around 50550 right it would have jammed up the mempool so either all of this is pure psychology or it's a combination of psychology as well as paper trading via eat all these exchanges you know excel spreadsheets which I don't like I I I I can't do anything about it, but I I would rather it not actually be that way. So let's get away from let's get away from the the happenings of Mount Gox and go over to Germany.
Remember, Germany is part of this bullshit too and I told you yesterday that it's crap that all of this actually occurred while the United States markets were closed, which I sorry, but the United States market for Bitcoin is probably the largest market in the world right now after the BlackRock iShares spot Bitcoin, ETF came online along with the 10 other ones. And they were all closed. They couldn't do anything about it. And by the time the fat lady start stopped singing, there was nothing that they could do. They just had to sit there helplessly and watch, and Germany was part of it.
But at least there's 1 person over in the German parliament that seems to be kinda pissed off about watching their citizenry's wealth be eviscerated by the very people that have been tasked to take care of them. German politician criticizes the government's Bitcoin sell off strategy, decrypt, written by Mertuah Merchant a pro bitcoin member of the German Bundenstag, Jona Kotar, has publicly criticized the government's decision to sell off its BTC holdings. Kotar's stance comes in the wake of 100 of 1, 000, 000 of dollars worth of Bitcoin being transferred from government wallets to exchanges and trading desks, signaling the commencement of a large scale liquidation process.
Already today, the German government has transferred 547.44 BTC worth approximately $30, 000, 000 to market maker flow traders, according to blockchain intelligence firm, ARCEM. This transfer represents a fraction of the government's 41, 000 BTC holdings, currently valued at $2, 270, 000, 000 now. The Bitcoin liquidations have been short sighted according to Cotard, quote, instead of holding Bitcoin as a strategic reserve currency, as is already being debated in the USA, our government is selling on a large scale, she wrote on Twitter. Kotar, an independent, who was a member of the Alternative for Germany party until 2022, has served in the Bundenstaag since 2017, this isn't the first time she's advocated on behalf of Bitcoin.
She's worn a BTC t shirt, oh, for god's sakes, while addressing parliament and made supporting Bitcoin, part of her political platform. In her letter, Kotar emphasized the potential missed opportunity for Germany to position itself at the forefront of financial innovation and economic sovereignty. The letter, which has been translated, was addressed to key government officials, including prime minister of Saxony, Michael Krechmer, federal minister of finance Christian Lindner, and chancellor Olaf Scholz, Kotar argued for retaining and strategically leveraging the seized Bitcoin.
Bitcoin offers a unique opportunity to diversify the state's assets, Kotar wrote, highlighting the potential to reduce risks associated with traditional asset classes. And she further argued for BTC's role in long term value preservation saying its scarcity and deflationary nature could serve as protection against inflation. Quote, a clear legal framework arising from the state's self interest in Bitcoin technology would promote local innovation and, you know, God forbid, entrepreneurship contributing to positive technological and financial development in Germany, she said. She also argued that holding the Bitcoin would help the country attract top talent and foster progress in its financial and tech sectors.
Instead of selling, Kotar proposed developing a comprehensive Bitcoin strategy. This could include retaining Bitcoin in the state treasury, issuing Bitcoin bonds or creating a favorable regulatory environment, she wrote. So at least there's 1 person who has their collective shit about them. And it happens to be this Joanna Kotar. So if you've it it's Joanna Kotar, c o t a r, over there on Twitter. If you wanna I don't know. Lender support, you know. I don't know. Translate English into German and say let's fucking go. Alright. Just before we get into the numbers, I do wanna make mention that we're dealing with according to hold on.
According to the Department of Labor Statistics, the new jobs report came out. 206, 000 jobs have been added in June, but the unemployment rate rose to the highest since November of 2021. What does this mean to you? All the people that are out there that are just thinking that fed is going to lower rates and it's just right around the corner. No it's not. Again I I don't know how I can make this any more forcible of a statement. The Fed is not interested in lowering interest rates. No matter what news hits the wire that you think is good news, it's not good enough for the Fed.
They're not interested in lowering rates. Do not think that they're going to lower rates in July. They're not going to lower rates in August. They might consider it in September and November or through October. But honestly, I don't I I'm starting to lose any kind of hope that even this year we get a rate cut from the federal funds. So, just let that wash over in your head a little bit and let's run the numbers. CNBC Futures and Commodities, but before, anon zapped me 121 sats over on zap.stream and npubones2pj qgq.
Sorry. Your your username is not resolving. But thank you for the 1, 000 sats. Said really enjoyed the chat about Alexandria. Keep up the great work, brother. I got more news about Alexandria coming up in the second part of the show. So thank you to all the rest of the people who for apparently, everybody's in pubs are not resolving in my zap. Stream. I don't know what that shit's about, but let's move on to some, commodity news. Hold on for a second. Speaking of commodities, coffee. That's a good commodity. Oil, West Texas Intermediate is up a quarter of a point to $84.6. Brent Norcea, up scant. 87.48.
Natural gas doing its thing. It's down 3 and a third to $2.33, and gasoline is down scant to $2.60 a gallon. Good luck finding that price. All of the metal rocks are doing a solid move today, including gold, which is up just over a point to $2, 394.40. Silver is up 2 doll oh, 2.85%. Platinum is up 3 a quarter. Copper is up 2 and a half. Palladium is up 1 quarter of a point now that all the markets are actually open today. Biggest winner in agriculture today is looks like it's gonna be wheat. 2.79% to the upside. Sugar or no. Rice just flipped over. 2.7% to the downside, so rice taking it on the chin today. Live cattle up almost a full point. Lean hogs are down a half. Feeder cattle are just kinda trading sideways. Now on over to dashboard.clarkmoodydot com.
$56, 460 is a 1.11 oh, small satchel of Richards. $1, 110, 000, 000, 000 of market cap. We can only get 24 ounces of shiny metal rocks with our 1 Bitcoin of which there are 19, 000, 720 21, 105.49 of. And fees have remained low through the entirety of yesterday. How can I tell? Because the average fees per block, not the standing fees per block right now or per transaction, just the fees per block hasn't budged in over a week. Point, 1, 2 BTC in average fees on a per block basis and speaking of blocks how many blocks are there? 175 blocks carrying 204, 000 unconfirmed transactions waiting to clear at high priority rates of single digits 9 satoshis per vbyte lows at 8 satoshis per vbyte and no priority at all is 4 satoshis per vbyte and anything just over 1 satoshi per vbyte being purged from mempools around the world. Let's look at the hash rate.
502. That's a low hash rate we haven't had a hash rate that low in a very long time in fact we haven't had a hash rate that low since wow. We haven't had a hashrate that low standing for, oh God, a few months. A couple at least 3 at least 3 months. Why? Miners are shutting down. Some of them some of them are at their limit of of how what and how they can operate given the price of Bitcoin as, after yesterday. So they're just turning their miners off and selling the electricity back to the grid if they've got long standing electric usage contracts because they're making more money selling electricity back to the grid off their contract than they are actually producing Bitcoin at this time.
And this is not mining death spiral FUD should be incoming any day now, any hour. I expect mining death spiral FUD for the 4th time to happen directly. I've yet to actually see it occur, which is very very strange, but this will probably ignite mining death spiral FUD. So, be aware that that is incoming. And speaking of incoming, commies of the corn, Bitcoin and episode, what was it? 917, Joseph Joey Joe 5, 000 sats says nothing. Write a note, Joey. Christian Farmer 67 with 3, 000 sats says nothing at all. Dude, Pies with 420 says LFG.
Pies with another 420 says, you're 100% right about Bitcoin Magazine. I felt that way about them for a little over 2 years now. Yeah it's been about about 2 years they really started I mean it really took where Bitcoin Magazine took a wrong turn was ordinals. Now, they were getting a little squirrelly just before that. I gave them a lot of latitude. A shit ton of latitude. Even through the Bitcoin conference, kind of getting a little, I don't know, a little skanky. Sorry. I got no other word for it. Bitcoin conference, the the big 1, the 1 that was always in Miami, and I think this year they're gonna go over to Tennessee.
It's a little skanky nowadays. I I just the lights and the screens and the paint jobs and the color coordination, and it's like, if I wanted that shit, I'd go to South by Southwest, man. Dude, give me a small conference. Any day of the week and twice on Sunday. Chris, wait. What was Chris Hartsold, 16 with a 100, says Vermin Supreme. That's the boot on head dude. Vermin Supreme. I finally remembered his name like way later that day. It was kind of embarrassing. But yes, Chris. Vermin Supreme. That's the dude. Pies with a 100 says, thank you sir. No thank you. Stacy with a 100 says, absolutely nothing.
And Perma Nerd says another interesting show and then post a nostrilink and says thanks for reading that article Have a listen and then all of a sudden there is the fountain. Fmforward/episodeforward/andthenawhole bunch of gobbledygook and that actually ends up being the URL for this particular episode. Not not this 1. The the 1 that I posted yesterday, because, you know, I I don't mind working on July 4th. Anyway, the point is, there's no boost to it. I had asked in yesterday's show that could somebody take the fountain.fm and just post it in a note somewhere along somewhere in nostr to see if because that URL is carried in somebody else's note not linked to my fountain account whether or not that it would come through into the boost of the show and sure enough it looks like Perma Nerd took the bait and did it.
And, well, I don't want to say take the bait but I don't know. Well, he he he played the guinea pig and he tried it out and sure enough it looks like if you just post the fountain.fm link anywhere on Nostor that whatever note or whatever thing that that you're posting it with, like whatever, like, if you write like, hail have a good morning and then you post, like, the fountain dot f m link to my show and I I guess somebody else's show, that it goes to our respective fountain.fm accounts for lack of a better term. Thank you, Perma Nerd. That is 1 more piece of evidence that I was looking for. That's the weather report.
Welcome to part 2 of the news you can use. I got a couple of, boost over here or, some messages over here in zap.stream that I wanted to read. BTC Nosternoobie is asking, this may be weird to ask, but what's your take on crypto scammers using XMR and BTC for money laundering? Don't encourage it. I just wanted your take on it. That's all. I don't know if that actually is happening. I mean okay. Look. Let me back up. Of course, it's happening. I just can't see it. I mean, it's like, you know, it it it if they want it if first of all, Monero, which I'm pretty sure that's XMR, What can I say? It actually it's actually got more privacy protection than Bitcoin does, but it's a shit coin. I don't own it. I don't use it. I don't need it. I don't prescribe anybody ever have it for any reason whatsoever
[00:42:06] Unknown:
And money laundering, you're at 1 point or another, you're probably gonna get caught. And the only way that you won't get caught
[00:42:16] Unknown:
is if the United States hegemony falls. Because apparently the United States is the only people that's competent enough to actually figure out shit. Germany, next up, UK after that. But when we start getting into, like, the, you know, underneath the top 10 countries and their financial regulations, I don't think they have the equipment to really discover whether somebody's money, you know, laundering money or not until it gets to amounts where it's becomes fucking obvious. Right? I don't recommend money laundering I just I I don't if they want to do it I okay if you know how to if you know how to wash that shit more power to you, I guess.
But eventually, you're probably gonna get caught, and I guarantee you you you don't wanna be having money laundering charges under uncle Sam's department of justice. Now, Alexandria. Project Alexandria was mentioned. I've got a note here from Michael Jay, and I'm gonna throw this 1 up in the in the window here so all the people can see it. It's a note from Noster, and I'm guessing Michael j is part of the is part of the crew over there. Let me actually just kind of verify here. Some Noster stability advocate. And he doesn't say whether or not he's he is specifically on the, Git citadel aka project Alexandria project.
But he says, work in progress image of the Alexandria client's article view. Liminal's code fetches a collection of kind 3 41 notes indexed by kind 340 notes and bundles them together into an article. Each kind 341 note is rendered as a subsection as illustrated by the highlight on hover. A table of contents will allow users to jump between headings within the article. A bit down the road we can add highlight and command functionality on individual kind 3rd 341 notes within an article. What the hell was that? Well, let me just expand this.
What he's saying is that they're using a particular note kind like an event. Like event 1. Right? Where I just write good morning. That is an event of kind 1 note on Nostra protocol. There are many event kinds on the Nostra protocol and they're working with 2 specific ones that they've outlined 340 and 341. Right? So those are the note kinds that they're using for this particular project at the moment. And what looks like they've done is they're using 1 kind to actually be a shorter embedded kind within another kind. It's not exactly that way but what it how this thing functions is that 1 kind can be the longer article.
The other kind can actually act even though it's a nostril note it actually acts as in this particular case a standalone part of a table of contents so like chapter 1 is a kind, and let's see which kind was that. Fetches a collection of kind index by and bundles them together. So, this kind the highlights that he's talking about looks like it's 340 or kind 340, and that that actually plugs back into the longer version of what it's trying to say which is the event kind 341. In either event, it basically makes a digital book is is what they're building over there at Project Alexandria.
They're at the very start of this of of this project, and they're bringing the bible to life. But now they're actually doing some other stuff. If you're not sure about Project Alexandria, you can go listen to, yesterday's show, and I've talked about it a couple of other times. This you cannot sleep on project Alexandria also on nostr if you want to start linking into the people that are behind this atgitcitadel all 1 word atgitcitadel again just for those in the back at get citadel do not sleep on this Pablo I you know what I'm talking about for the rest of you who I thoroughly confused a my apologies be it's really hard to describe especially in audio format because I really try to keep it to where you don't have to sit and watch the show you can go gardening or you can take a walk or go for a bike ride or wash the dishes or do freaking laundry which never seems to quit along with the dishes I want it to be that way but because of that I I'm trying to get better at my explanations here but these are very this is a very difficult, topic to explain.
When you see it, it becomes evident. So let me try it this way the kind 340 Nostra protocol event type is being used, in this case, as a table of contents. But each event kind 340 acts as chapter 1 and then another 340 acts as chapter 2 and when you're looking at it on a computer screen those notes are kind of stacked up on top of each other like you're reading a table of contents from any regular book chapter 1 chapter 2 and then chapter 3 is under that chapter 4 is under that and then it gives you the page number But in this case, when you drag your cursor across it, it highlights chapter 2 or whatever the name of the chapter might be as a kind 340 note and when you click it it sends you to the associated kind 341 note which is the entirety of the chapter now it seems like a very long you well why not just use ebooks Because my ebooks can be taken off of my Kindle by Amazon at any time.
At any time. They decide that they wanna ban forever Tom Sawyer as they've done in the past, not Amazon, but, well, I think Amazon has done that. But libraries and congresses and teachers. There's been many times that Samuel Clemens book, Tom Sawyer, as well as Huckleberry Finn, have been banned. You can't find it. You can't get it. If you were lucky enough to hold a physical book at the time that it was banned and you didn't give it up, you were fine. You had that book. But now that we have e readers, uh-uh. No. Nobody's library is safe. That's why you cannot sleep on project Alexandria. You just can't do it. And then, Sybil actually says something to this Michael j note. I'm not gonna read it, but I'm gonna put it up for the guys over on ZapStream to hopefully encourage people to come over to ZapStream.
But now, as if that wasn't a project that you didn't wanna sleep on enough, here's a completely different 1 that just hit the wires yesterday as far as I can tell. Inpub. Pro, a Nostr based website for creators. Okay. Let's I'm going to try to be very careful with this 1 because this 1 again it's too important to sleep on. Npub. Pro lets users create personal websites from their Nostr content. It's free for anyone getting started, it's open source, and self hostable. It's built by the nostr.band team. Please welcome Npub. Pro. This is a tool to make yourself a beautiful nostril based website. It's been a long time in the making, and we're thrilled to launch it on this special day announced at brugeman, brugeman.
Quote websites are noster events again I'm going to read the first part of that sentence so that you don't sleep on it websites are Nostra events. Let me fully pause here to relate this back to Project Alexandria and the 340 event kind note versus the 341 event kind note. The 340 note or event type links directly to the full chapter that it represents the 341 event type this is a whole website almost like I'm looking at it as a completely different type of event type. Websites are Nostr events Not Nostr based. No. The whole fucking website is an event. I don't know how much more I can make it clear. The themes are open sourced ghost themes published on relays and blossom servers. Jesus.
Npub. Pro does not host your data, it only hosts the code to convert nostril events to web pages explains the project's Q and A section while this has been a long time in the making we're still in the early beta stage. Some stuff may be rough, won't work properly and features may be missing. Content management is still a work in progress. Please be patient. We're autistic. It doesn't actually say the last part. As was stated in the announcement, we will host your website for free on your name.npub.pro address. If you want to attach a custom domain and get other benefits, you can switch to a pro plan you can also self host a Nostra site all of the data is on relays the engine is open source and there is no migration it just works anywhere the project said so here's the key features Pick a theme that fits your audience and your preference.
Sounds a lot like, what oh, god. The plugins for wordsmith or whatever the hell that WordPress. It's like a WordPress program, plugin is what it sounds like. You're not limited to showing your content on 1 particular client. Links, shareable links to your website look amazing when shared on social media and messenger apps. Great great place for conversion. A place to attract your audience and measure outcomes using existing web tools I guess that means that metrics are embedded somewhere there's no complex hosting maintenance or security issues your content lives on relays themes are nostril relays on and blossom servers no matter what your site always works Already published on Nostr? Well, npub. Pro displays your Nostr content and you choose which type of content to display. Kind of works like an app. Your website is a progressive web app that can be added to your home screen and it works offline.
You can post from any Nostra client. No need to log into a content management system to check for comments. Everything is on nostr, so it just works from any client. It's SEO or search engine optimization friendly. Your content has proper meta tags and your website is rendered on the server to make sure that search engines love it. Self host if you like. You can use our scalable hosting infrastructure or switch to any file hosting like GitHub Pages. It's interoperable as well. Your website is a nostr event proposed in NIP 5 12.
Themes are proposed NIP or NIP 136. Our engine is open source, live Nostr site and that is website. Github.comforward/nostrbandforward/libnostr site. So it's a and all of these things that I read you today links will be in the show notes and pod home dotfm is doing a really good job making those links look good finally, because SoundCloud was just screwing me over. I I don't really know what to say about this. I don't because I'm kind of I'm kind of befuddled.
[00:55:09] Unknown:
And the reason is because I don't
[00:55:14] Unknown:
I try my hardest to make sure that I really understand the importance of of of something that I'm looking at. So I can go, oh, well, you know, not that important. I'm not don't have to worry about it that much. Or I find something you go, wow, that's that that's a game changer. This is a game changer. But I I don't know how far that how deep that rabbit hole is. I it it's not only just because of what it is in itself, where when it says websites are disaster events, that 1 phrase that 1 phrase all by itself should have you go you should literally be doing the whole evil scientist shit right now if it is absolutely 100% true that a website is a nostril event then you can kiss 80% of legacy media goodbye and we don't have to worry about the gatekeepers any longer they're already dead they don't know it yet but what's worse we don't know it yet and things like project Alexandria and in pub was it like make sure that I've got it right in pub dot pro that's in pub dot pro nah n pub dot pro nostr based websites for creators Now, I've tried it and I'm going to see if I can't get it up there. Let me see. And I thought I actually had in pub dot pro. I thought I actually had it up and ready to go. Maybe I do. Hold on for a second. Nope. I can't get it from there.
[00:56:53] Unknown:
Let's see. My sites. Oh, wow. Look at that. Okay.
[00:57:01] Unknown:
So I'm at npub.proforward/admin. And it looks like I'm already logged in, because I was like do playing around with this thing yesterday. And I've come up and the remember these things are all of these things are changing. I've I've already discovered that something that I had planned, for a couple of minutes from now is probably not going to work because something has changed. We'll get to that. But here, I I'm at this forward slash admin on npub dot pro and it says, your websites and I can have this and I have a log out button, so I am definitely logged in and I have 1 single URL and it's, none you business dot in pub dot pro just like they promised and it highlights it's a little it's a little box and it's it's got a u it says URL. It gives my URL.
It's got my it's a little box with my, avatar. It's got my avatar name. It's got everything about it. So, I'm going to click it and oh. It takes me to a dashboard. And none of it is now I've got a little button that says open website. Okay. So, we'll see what happens because this is all changed from yesterday. The XML file does not appear to have any style information associated with it. This the CMS version the CMS portion of this is all jacked up. That's okay. I'm not mad. I am I am gleeful. I can I this is amazing? If this shit works, I I don't know I don't know how much gravity I can import to you on this. So, I'm going to leave this alone.
I'm going to go I'm going to go away from in pub and we're gonna go to satanomics. Satanomics. I swear to God I've brought you news about satanomics before, but it just hit no bullshit Bitcoin yesterday, so I'm going to do it again. Satanomics, a free and open source software Bitcoin only alternative to glass node. It's a self hostable if you want it to be. It's self hostable suite of tools that computes, distributes, and displays on chain data making it freely available for anyone to use. Now I'm going to pause here. Glassnode is a very expensive tool and people like Willie Wu use it. And if you don't know who Willie Wu is, he's very well known trader over on Twitter.
He has a tendency to sit down with Peter McCormick a lot. He's well known. Right? He's a well known dude. Uses Glassnode. Probably pays through the nose for it. I don't know how much it costs but I know Glassnode is not giving up their shit for free. According to this, this takes the place of of Glassnode and not only is it free, you can self host it if you want to, quote, I'm very pleased to finally and officially share with the world satanomics which is a suite of tools that computes, distributes and displays on chain data. The generated datasets are very heterogeneous and can be used for many different purposes.
In a nutshell, you can view this as, the FOSS and self hostable version of Glassnode and thus a complimentary tool to mempool.space. I've been working for a long time now and quit my first job to work on this full time since November of 2023. I strongly believe that it is a very that it's very important that anyone should have full access and free access and be able to verify and visualize any kind of data from the network. And so, you'll find many of the charts and soon dashboards or routes through an API if you prefer it raw to do anything from doing a health check, gain insight into the current or past state of the network, or even trading. I don't care. Do what you want. I realize it's not as exciting as e cash and nostril or Bitcoin tools, but it can be something that knee or it has to be it's something that needed to be done. We cannot have fiat minded $700 a month closed tools like glass nodes being the go to. So, that answers my question.
Glass node for a full subscription cost $700 a month. Do you have $700 a month?
[01:01:24] Unknown:
Even if I did, I'm not gonna give it to Glassnode. And
[01:01:29] Unknown:
let's go through the rest of it because it it it it's it's this is important again the project is in very early stages and the web app will have bugs it does have bugs the API might break and the data can definitely be false or slightly false the project is split into 3 parts a parser, a small server which automatically creates route access through the API, and a web app which displays the generated datasets. Okay. So this thing is phenomenal. It's so phenomenal in fact. Let me make sure. Okay. That's a different deal. So phenomenal that I'm going to throw it over here so that we can look to see what the hell is going on. If you look over here, okay, so it's a website for those in the audio.
At first glance, it throws up a price chart. Well, I can get that from TradingView. Yeah, but can you get the let's see. Can you get with 1 click of a button, are you able to actually get and extract all of the information for the averages, like the 200 day moving average? You got a 1 week moving average? Well, this 1 I've got a 1 week, an 8 day, a 13 day, a 21 day, a 1 month, a 30 4 day, a 55 day, an 89 day, a 144 day, a 1 year, 2 year, 200 week, and a 4 year. All of the lines are represented together given the price data and this all is being crunched on my machine how do I know because my GPU fan just started freaking going nuts and if you look if you go to and it's app app.satanomics.xyz that's app.satanomics dotxyz you can play with it too but that's it's not just price there's there's stuff about the weekly sum of mind blocks.
There is what else is in here? There's realized, realized price or a rather realized capitalization of addresses by size, and I'm looking at capitalization of the size of wallets that are known as plankton, which is people like with basically like, you know, a couple of 100, 000 satoshis. If I scroll down and I'm just scrolling down the left hand view, vaulted supply. What is that? Looks like the vaulted supply is mean, we're talking like there's a like there's gotta be at least a100 I mean, we're talking like there's a like there's got to be at least a 100 different things that you can look at. And I'm just scratching the surface. And by the way, it looks like let's see if I go to nostril it basically takes it's got a nostril button and it takes me directly to yeah. Satanomics.
Xxy or the satanomics, nostril account. The the nostril in public takes takes me directly there so that I can go support this guy. I this it's like having Glassnote for free. Okay? So go over to app. Satonomics. Xyz and then go over to find satonomics over on Noster and give that account a follow. You don't want to sleep on a tool like this. Now, keep in mind, all this shit's beta, All this shit's gonna break. Some days you're gonna go to it when you really need it. It's not gonna be there for you. Stop getting pissed about shit like that. All of us are in very, very early days. My god, my fan is just going nuts.
Now, let's see if I can do this real quick for you. Hornets, h o r n e t storage. It's a multimedia nostril relay. And hornets stands for hash organized relay network enabling tamper resistant storage. I'm reading from the hornet storage, Github. The multimedia Nostra Relay supports chunked files with psionic Merkle trees, which I don't know what that means. I know what'smerkle tree is, but I'm not sure what psionic is. And un chunked files with Blossom. Here comes Blossom again. With or in a modular way, allowing operators and here's the gist to configure what they want to store. This is a front end to your Nostra Relay, if you want to run a Nostra Relay. It allows you to lift yourself out of command line or CLI stuff and get into a graphic user interface that allows you to say: I only want to host JPEG files.
I only want to have these kinds of notes, and but it's it's, you know, it's a way for you to configure your relay in a graphic user environment, but it's got a lot of stuff on the back end. But as as far as when you first open it to look at it, it is definitely something that you like a bumper that you put on to your relay as a car so that you can address your car in a or your nostril relay in a much easier manner that's why things are called a front end so I asked the developer who is colby serpa clearly on nostr and I asked him a question. I say, is this a GUI or graphic user interface to configure and keep tabs on my own relay?
And he says, yes and to configure it. So he's kind of answered that I kind of answered that question for myself but this is a way for you to interact with your relay and this is what I had always wanted when I first saw that the guys over at my node BTC allowed me the option to spin up a nostril relay but there was no interacting with it And even the 1 that I've got on my start 9, I can't really interact with it. I mean I I could if I had the, you know, better computer chops but I don't. I am a guy that's a visual guy. I love graphic user interfaces even though most developers hate them because they eat so much memory compute cycles they get a little they get a little weird there's I mean so I understand that but the developers if you guys will listen to people like me that say I really like interacting with something that's highly technical
[01:08:24] Unknown:
in a way that's got switches buttons and knobs
[01:08:28] Unknown:
that's just sort of the way that I work and this is what this does It gives me switches, buttons, and knobs, and it plugs it. It's basically, it's like a faceplate to my nostril relay. And it says, oh, I basically, it says, I see you have got a nostril relay. I'm going to, like, literally let you configure this nostril relay, not anybody else's with switches, buttons, and knobs. So, go check that shit out as quick as you possibly can. And lastly, locust. I just wanted to mention it's not anything to do with Nostra and Bitcoin, but it is free and open source. It is a free and open source app for Android and iOS that allows you to share your location live.
Oh my god. Why would you do that? Because it encrypts your location end to end, meaning that no 1, except the people that you choose to see your location, can actually see your location. Again, all of these. All of the links to everything and I'm actually reading this from a GitHub all of these links will be in the show notes. So, if you're interested in having an app on your phone that allows you to give your location only to on an end to end encryption basis to people that you trust, then go to the show notes, find this link. It's GitHub forward slash myzel394.
It's Mizel is the guy's name. Mizel 394. And lastly, OpenSats grants long term support for Russ Nostra maintainer, Yuki Kishimoto. Let's see. He is the maintainer and creator of Rust Noster, which is obviously a Rust implementation of the Noster protocol. He also has contributed to other projects. So he's he says that he's honored to have been selected. You've realized my dream working full time on open source projects as an independent developer. Thank you so much. OpenSats and donors, Yuki said in a response. So Rust implementation of Noster, we need as many implementations of all these things, Noster, Lightning, eCash, Bitcoin that we can possibly get our hands on.
So that will do it for the show and I'm going to just go ahead and can it right here and say that I will see you on the other side. This has been Bitcoin, and and I'm your host, David Bennett. I hope you enjoyed today's episode and hope to see you again real soon. Have a great day.
The Cat Adventure Story
Market Analysis and Commodity Prices
Project Alexandria Update
