Episode 1145 of Bitcoin And . . . is LIVE!
Topics for today:
Product: 100% Pasture-Raised, Grass-Fed, Jersey Cow Ghee sourced and produced in SW Virginia
Put BitcoinAnd in the order comments section
https://greatghee.com/
nostr Profile: https://ditto.pub/@[email protected]
https://cointelegraph.com/news/steak-n-shake-attributes-11-percent-sales-rise-bitcoiners
https://www.therage.co/developer-arrested-over-tornado-cash-research/
https://atlas21.com/terraform-labs-case-do-kwon-may-plead-guilty/
https://atlas21.com/cango-acquires-50-mw-bitcoin-mining-facility-in-georgia-for-19-5-million/
https://lightning.news/bitcoin-job-market-explodes-in-july-2025/
https://www.coindesk.com/markets/2025/08/12/metaplanet-boosts-bitcoin-reserves-with-usd61m-purchase
Topics for today:
- Monero 51%'ed
- Do Kwon To Plead Guilty
- Further Arrests Of Tornado Cash Devs
- Ex-Chinese Company Mines In Georgia
- Bitcoin Jobs Explode
Circle P:
GreatGheeProduct: 100% Pasture-Raised, Grass-Fed, Jersey Cow Ghee sourced and produced in SW Virginia
Put BitcoinAnd in the order comments section
https://greatghee.com/
nostr Profile: https://ditto.pub/@[email protected]
Today's Articles:
https://cointelegraph.com/news/monero-qubic-selfish-mining-51-percent-attackhttps://cointelegraph.com/news/steak-n-shake-attributes-11-percent-sales-rise-bitcoiners
https://www.therage.co/developer-arrested-over-tornado-cash-research/
https://atlas21.com/terraform-labs-case-do-kwon-may-plead-guilty/
https://atlas21.com/cango-acquires-50-mw-bitcoin-mining-facility-in-georgia-for-19-5-million/
https://lightning.news/bitcoin-job-market-explodes-in-july-2025/
https://www.coindesk.com/markets/2025/08/12/metaplanet-boosts-bitcoin-reserves-with-usd61m-purchase
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[00:00:02]
David Bennett:
It is 07:34AM Pacific Daylight Time. It is the August 2025, and this is episode eleven forty five of Bitcoin and Monero's in trouble. We're gonna talk about a little bit of shit coinery today, just to bring it home that what people think are safe and secure may not actually be safe and secure. We'll get into it. Stake and Shake has reported some pretty good numbers since they started accepting Bitcoin on the lightning network for their services, which is, well, food. It's fast food. And tallow fries, which they keep they keep saying it's tallow fries. Please understand that those things are precooked in seed oil before they actually get to a Steak and Shake when they actually are put into beef tallow. But before they hit beef tallow, those things are pre fried in seed oil. And until such time a Steak and Shake comes out and says, even at our preparation manufacturing plants where we're gonna use beef tallow, then they're not really beef tallow fries, but, you know, it doesn't really matter.
Kudos to them for taking Bitcoin, and it certainly has helped their balance sheet as we will see. Tornado Cash has another wrinkle. Yet another developer has been arrested. This is new. This this isn't the this isn't the the the Roman storm stuff. This isn't the old Tornado Cash stuff. This is brand spanking new Tornado Cash alley, baby. It's coming to you. We're we're gonna read it from Lola Leitz because she pretty much is the best one to get information from when it comes to the tornado cache stuff. And then Terraform Labs founder, Du Kwon, may flip. There may be a flippening.
There may be a flippening. We'll have to see. And then I'm going to talk a little bit about the Conferee owner's manual today. I'm gonna drop that sometime this afternoon. You will have to sign up to the bitcoinandshow.com website. All all you're gonna do is is give me your email address. That's that's pretty much it. You'll have to select that the way that the the website that that I'm working with, the template that I'm working with, the way it works is that you'll have to pick a tier. One of the tiers is free and the other tier is actual you give me money. It's $50 a year if you want to do it for a year.
So you don't have to select that one. If you want the if you want the conferee manual for free, you can select just the free tier. It's okay by me. If you wanna support the show and do the $50 a year, I'd appreciate it, but everybody's gonna be able to get this Comfrey manual. It's gonna show show you how to use Comfrey, why you want this plant in your garden. It goes through the whole ball of wax. It's it's short, but in that shortness, it is relatively extensive. It is a great starter's manual for people who want to get into growing their own comfrey, and I'll tell you why you wanna do that later. And then, Cango has acquired a Bitcoin mining facility in Georgia.
The Bitcoin jobs market is heating up and Meta Planet buys more Bitcoin. Let's go back to the Monero story. Monero price has dipped as Cubic likely succeeded in a 51% attack. That's right. We haven't we haven't really heard about 51% attacks in a while, and Monero just got one. Adrian Zmunksy is writing for Cointelegraph. The privacy focused cryptocurrency Monero has suffered a major disruption. 60 minuteed blocks have been discarded from its blockchain in the past twenty four hours amid an ongoing attempted 51% attack by the Qubic network.
The Monero consensus status dashboard shows Monero saw 60 orphaned blocks, valid blocks that were rejected over the last seven twenty blocks. The disruption comes amid an ongoing economic attack by the Cubic network incentivizing selfish mining. Cubic miners redirect their compute power to mine Monero and sell the proceeds to buy and burn Cubic tokens while being paid in Cubic coin. Cubic miners reportedly earn more than Monero miners under this setup. The attack has sparked fears of a possible 51% attack, a rare and very serious event that can let attackers rewrite transactions or block transactions entirely.
An orphaned block is a valid block excluded from the main chain because another competing block at the same block height was accepted first. In selfish mining, a miner with significant hash rate withholds blocks and publishes them strategically to overtake the public chain causing honest miners' work to be discarded. As of the time of writing, Monero's price stands at over $247 which is down 8.6% from the price of over $276 reported just twenty four hours ago. Cubic's Monero Mining Pool openly engages in selfish mining with Cubic founder Sergei Ivancidio admitting it in an ex post.
Sergei claimed in a Tuesday ex post that Cubic has achieved 51% over Monero and the team is waiting for independent confirmations. A 51% attack occurs when a single entity, CUBIC mining pool, controls over half of a blockchain's network mining power or stake, allowing them to manipulate transactions. Zhong Chenming, the cofounder of crypto cybersecurity firm SlowBist, said in the next post that, quote, this time the 51% attack on Monero seems to have succeeded and added the cost was also high. It's unclear what the economic benefits of doing this are in the end. In theory, the cubic mining pool can now rewrite the blockchain, achieve double spending, and censor any transactions, end quote.
Damn. Doubts remain around whether a successful 51% attack occurred. Engaging in selfish mining with control over a high percentage of the hash rate that is short of the majority can occasionally lead to orphan blocks. Monero's total hash rate evaluation by Coinwares results in a five giga hash per second estimation, and unverified data provided by Cubic claims a peak hash rate of 3.01 gigahashes per second, which is more than sufficient, and a current hash rate of 2.08 gigahashes per second, which is insufficient for a 51% attack.
The Monero consensus status also indicates that the number of blocks mined by unknown mining pools and solo miners reached nearly 30% on August 11. This could signal Cubic controlling most of the hash rate for a brief period or controlling a significant portion, but still a minority of the hash rate. Sarai DEX's lead developer Luke Parker raised an issue with reports that the 51% attack took place in a separate expost. He noted that a six block deep network reorganization with block orphaning does not mean a 51% attack was successful.
Quote, it does mean an adversary with a high amount of hash rate got lucky. Cubic and Monero are locked in an ongoing hacking war trading countermeasures. Sergei previously wrote on x that Monero broke Cubic's selfish mining system, prompting his fix. Before that, Sergei accused a developer of Monero mining software, XM Rig, Sergei Chikin, cannot pronounce it, of denial of service attack in Cubic's pool, leading to hash rate losses, a claim Chernick disputes. The attack first started in late July when the community noticed what it described as an economic attack. The operation uses economic incentives in an attempt to take control over most of Monero's hash rate and consequently the network.
Niko Demchuck, head of legal at on chain forensics firm AMLbot, told Cointelegraph that Cubic's attack on Monero could be deemed computer sabotage or unauthorized access under Belarusian and European Union laws. However, no statute explicitly mentions 51% attacks. Demchak said Belarus's cybercrime rules also apply or could apply if blockchain manipulation disrupts protected systems. So for those people who are are continuously tout Monero as the better choice than Bitcoin, I gotta warn you, they just don't have the amount of security that is necessary to stop this kind of crap.
And then somebody out there also already knows that two mining pools of Bitcoin own 60% of the hash rate. Do I think that that's good? No, I do not. I do not think that that's good, which is why I will never understand why people are dead set against solo mining. I I've got a little I've got a little bit ax over here. And when I I I posted that I had bought a bit ax, and some people gave me shit for it saying, well, you just wasted your money on a lottery ticket. Yeah. But I'm providing hash rate that is not owned by any of the other pools. Is it a lot of hash rate? Of course not. But if there's a lot of people like me that have a lot of solo miners, there can be an impact.
And it's not helpful when other people tell me that what I'm doing is stupid. Because, yes, I've heard that. You bought a bit axe you're stupid you lost money that's not why I did not buy a bit axe because I actually thought I was going to mine a block I bought a bit axe to help decentralize the mining network but you know attitudes are attitudes and some people just suck. Let's just say it that way. And speaking of suck, have you sucked on a shake lately? Stake and Shake is thanking Bitcoiners because their same store sales rose 11% in the second quarter.
Braden Lindria from Cointelegraph says US fast food chain, Steak and Shake, tipped its hat to Bitcoiners after reporting a 10.7 quarter over quarter same store sales increase in the second quarter outpacing America's top food chains. They beat McDonald's on this one, guys. Quote, Bitcoin has been a game changer, Steak and Shake posted on Friday, thanking Bitcoiners for their contributions since May 16 when the fast food chain started accepting Bitcoin as payment. Wow. So here's the actual the actual tweet says from Steak and Shake says, in the 2025, Steak and Shake same store sales increased by 10.7%.
Bitcoin has been a game changer. Thank you, Bitcoiners, Bitcoin burgers, and beyond. And there's a little rocket ship there. The solid growth suggests merchant Bitcoin payments may still be alive in The US where Bitcoin is mostly treated as an investment, unlike in less developed countries where it is more frequently used in day to day transactions. Quote, Bitcoin continues to be ignored, but they won't be able to ignore it forever. End quote. Steak and Shake same quarter sales growth was the highest among America's top fast food chains in the quarter. An ex post from Restaurant Business Magazine's editor in chief Jonathan Mayes on Friday showed a range of fast food chains including McDonald's, Domino's, and Taco Bell reporting same store sales growth ranging from negative 7.1% to positive 6.1%.
Wow. The fast food chain started accepting Bitcoin as payment on May 16 in all of its locations where permitted by law, including France, Monaco, and Spain, in addition to The United States. It said the change will make cryptocurrency payments available to more than 100,000,000 customers. About two weeks after the opening day, Steak and Shake's chief operating officer Dan Edwards also noted that Bitcoin had saved the firm 50% in processing fees, quote, this means that Bitcoin is a win for the customer, it's a win for us as the merchant, and it's a win for you and the Bitcoin community, Edwards said at the Bitcoin twenty twenty five conference in late May. He noted that Stake and Shake accounted for 0.2% of all Bitcoin transactions on its opening day.
The number of Stake and Shake stores in The United States has fallen from its peak of 628 in 2018 to 397 as of 05/28/2025, scrape hero data states. Florida is home to most Steak and Shake stores with 79, which is 20% of all Steak and Shake stores in The United States. So that may explain why there were so many Bitcoiners down in Florida. So 10% store over, quarter over quarter. That's pretty impressive for a fast food joint, dude. And considering that McDonald's did I think McDonald's did only 2.4 quarter over quarter, and Starbucks, by the way, was down 2%. They lost 2% in revenue. So we may actually see a little bit more merchant adoption because just like you have a whole slew of Bitcoin treasury companies coming out of the woodwork, you've got a whole slew of fast food joints that they may actually do the whole copycat thing of Steak and Shake and start taking taking Bitcoin for their, food. Who knows?
Now from the rage, and we should be enraged, this would be Lola Litz's outfit. Developer has been arrested over Tornado Cash research. Wow. This is really ugly. Quote, I'm in Turkey, Izmir. They are telling my lawyer that I helped people to misuse Ethereum, and I might have a charge. Federico Carone, an Ethereum core developer and founder of the venture studio Lambda Class wrote last night on x. After a night in Turkish custody, during which Carone was able to keep his phone and live post some some of the ordeal to x, he followed up with a longer explanatory post when he was able to leave the country this morning. Quote, I'm finally out.
Safe and free, Karon posted. According to his account of events, the Turkish minister of internal affairs had filed a case accusing Karon of helping others misuse Ethereum apparently connected to a privacy protocol. Quote, a few years ago, on the day Alexei Pertsev was detained, we received a call that gladly didn't escalate any further regarding an academic paper and code we had published about Tornado Cash called Tutela, Carone wrote. We never helped anyone engage in illegal activity. It was purely research on mixers and their properties. Tutela is an open source tool for the assessment of user privacy on Ethereum and Tornado Cash, according to a paper referenced by Carony.
Caron's arrest is a stark reminder that prosecutions that begin in The US rarely stop at The United States as anti money laundering and counter terrorist financing efforts are understood to operate in a global framework. Quote, our local Turkish attorney is already working on our defense. We still don't have the full picture of what happened or why it happened, but we will bring in the best team that we can to resolve it. If needed, one things hold on. If needed, one one things are sorted out, I think he means once. If needed, once things are sorted out, I will come back to clear my name and defend ourselves.
So we've got another guy that's in the Who's Scout. This time, he didn't actually build anything. This is just an academic paper. This is really sketchy at best because he didn't actually pub I mean, he published code, but he didn't actually publish code to some kind of server and then run the server. It's on paper or in modern times a PDF or something like that. It's an academic paper. How would you like to, like, be a a biologist and write a paper about, I don't know, e coli and get arrested for it? Because that's what's happened here. This is this escalation of this kind of thing is probably going to get a lot worse before it gets better. So, again, I implore everybody working on Bitcoin, and honestly, I'm gonna expand that to just general crypto.
If you're working on these tools, do not do it under your own name. Don't do that. There's no reason to do that. Again, the whole have fun staying poor element comes back to mind here. As Bitcoiners, especially on when I was still on Twitter, we used to just love pulling the have fun staying poor train on some dumb son of a bitch that said something cruel about Bitcoin or something stupid about Bitcoin or clearly didn't understand Bitcoin. And we would always come back with h, you know, HFSP, have fun staying poor. The the people that are best suited to actually have fun staying poor are Bitcoiners ourselves.
And the reason I'm even bringing that up is because I've I've said it a couple of times and I wanna reiterate it here. If you're going to build a company, a for profit company, because you think you're gonna get smoking rich by offering privacy tools in the crypto ecosystem, you need to think again. Because now you can't even write an academic paper. You can't even theorize in a PDF about some things without being arrested and thrown in a Turkish prison. And if you've ever seen Midnight Express, the movie from the very late seventies or maybe even mid seventies, you don't wanna see the inside of a Turkish prison ever. And if you haven't seen that movie, I highly recommend that you do just so you know what the inside of a Turkish prison looks like and then marry that up with the fact that you could end up in one if you write an academic paper.
So why do I bring up have fun staying poor? Well, don't use your own name. Don't build a business. Just build the tools. Don't do I mean, do it in the let let the tool breathe and walk around in the open, but you can't make money from it. You unless you are just like an idiot savant and figure out a way to make oodles of cash without a LLC or an incorporation or or a business or or loans or anything that can that can connect you to your identity, unless you're a guy that can figure out how to do that, then you run the risk of being arrested everywhere you go.
Don't use your real legal name. Use a NIM. Don't connect figure out everything that you can do to completely detach your NIM identity from your real world identity. And I wish I could give you a manual on how to do that, but honestly, I can't. This is it depends on your context, and I don't know everybody's context. But I will say this, for those people that wanna build a company because they wanna make money and they're operating in the space of privacy tools, I I don't I I just don't think it's going to work the way you think it's going to work. So therefore, if you can learn to have fun staying poor, then you're going to be in an unassailable position.
Alright. Great ghee is in the news. Actually, it's not in the news. It's in the Circle p. Greatghee.com. That's great, g h e e, that's how you spell ghee, is the Circle p vendor of the day. What does he sell? Well, he sells handmade grass fed ghee. It's like butter, only clarified. Here, let's just give you the explanation here on the greatghee.com website. What is ghee? Ghee or clarified butter is made by simmering butter to remove water, milk solids, and impurities leaving behind a golden lactose free oil with a nutty flavor and a high smoke point, which is around 485 degrees Fahrenheit, 252 degrees Celsius.
Unlike regular butter, ghee is shelf stable and versatile for cooking, baking, or even skin care. It's delicious. It is a staple beginning for almost all Indian food that that we make here at the at at our house and most of the Indian food that we get out at restaurants. But clearly, it's not just for Indian food. I use it to make omelettes. I use it to fry eggs in. I use it on steaks. I use it everywhere. It's just the animal fat from milk. If you get right down to it, if I milk a cow, I can drink the milk or I can make buttermilk out of it, which means that I'm making butter. I take the butter, I melt the butter down, and then I simmer it and all of the rest of anything that's left over in the butter, that falls out and all I'm left with is pure beautiful animal fat from milk. That's essentially what we're talking about. And shelf stable means that it doesn't need to be refrigerated.
I I we don't refrigerate our ghee, and I never have because that's one of the reasons ghee was invented or well, people figured out ghee would keep for long, long, long periods of time. It's a food preservation method of high quality animal fat. It doesn't oxidize readily. It's very, very stable. You're going to want to get it. And if you just tell just tell the guy at Great Gee that, Bitcoin and since you just use just put Bitcoin and in the order comments section, You're not gonna get you're not gonna get, you know, like anything off, at least at least I don't think so. Hold on. Let me let me just check something out here for a second. I I gotta make sure about that. Yeah. Just tell them that that Bitcoin and censorship, because this is value for value advertising in the circle p. If Great Guy knows that you bought his product because I essentially convinced you to buy it, then he gets to give me Satoshis any amount that he wants. It depends on what he feels that that particular sale was worth to him. That's how the circle p works. If you want some of the best shelf stable butter you're ever going to have, you're gonna go to greatghee.com.
That's great, ghee,.com, and tell them Bitcoin and sent you with the coupon code Bitcoin and. Now Terraform Labs case, we haven't heard about this one in a while. Do Kwon looks like he's gonna flip and plead guilty. This is Atlas 21. A federal judge scheduled a conference on August 12, which is today, during which Do Kwon, cofounder of Terraform Labs, may enter a plea change regarding the criminal charges against him. Judge Paul Engelmayor of the United States District Court for the Southern District of New York issued an order on August 11 requiring the parties to appear in court the following day.
The summons suggest that Do Kwon and his legal team have reached an agreement with US federal authorities. According to court documents, the district attorney's office team, led by acting prosecutor Jay Clayton, has engaged in productive discussions with the defendant's lawyers for several months. Initially, last January, Do Kwon pleaded pleaded not guilty to nine criminal counts. Holy shit. Including securities fraud, market manipulation, money laundering, and wire fraud. Wow. That's dude, that's enough to put your ass away for a long time. This followed a lengthy legal battle over his extradition from Montenegro, which ended with his transfer to The United States.
Do Kwon's indictment dates back to March 2023 when US authorities accused him of contributing to the collapse of the Terra ecosystem causing losses of around, you know, $40,000,000,000 to investors. The 2022 collapse forced the entrepreneur into hiding for months until his arrest in Montenegro for using forged travel documents. The extradition battle lasted over a year with competing requests from The United States and South Korea. Ultimately, in December 2024, Do Kwon was handed over to US authorities and has been held without bail ever since. Judge Engelmeier specified that, quote, the defendant should be prepared to provide a narrative statement incorporating all elements of the offenses or offense to which he pleads guilty, indicating that a plea agreement is indeed being negotiated. Yeah. It sounds like it to me. And separately, Terraform Labs reached a settlement with US Securities and Exchange Commission in 2024, agreeing to pay approximately $4,500,000,000 in fines, civil penalties, and prejudgment arrests. So, Do Kwon, the wonder kid, looks like he's gonna go straight down to hell and he deserves everything he gets.
He's a shit coiner of massive proportions and the whole collapse of the Terra ecosystem just dude. And this is this is what prompted Novogratz to get a Luna tattoo on his left arm, which will be with him forever because right after he got that tattoo is when all this shit broke loose. And it I mean, everything broke loose at the same time. This was FTX. This is Terra. This is Luna. This is like BlockFi, the whole collapse that everybody thought was really centered around FTX was actually a whole pool of people swimming in urinated water, and they got the plug pulled on them all at once. It just so happened that Sam Bankman Fried was the most, I don't know, most notable one of the bunch.
Let's run the numbers. Oil taking it on the chin again. We are down point 63% on West Texas Intermediate, $63.56 a barrel. Brent Norsee is down a third to $66.38. Natural gas getting pummeled 4% to the downside, $2.83 per thousand cubic feet. Gasoline is sliding down point 08% to $2.07 a gallon. Gold and its metal brethren are not doing well today either. Point 5% to the downside for gold, $33.84 and 7 dimes. Silver is down a quarter. Platinum is down a third. Copper is actually up though, one and three quarters of a point in the green. Palladium is down almost two full points. Ag is pretty much mixed today. The biggest winner is wow, sugar 2.79% to the upside.
Biggest loser is coffee 2.17 to the downside. Live cattle is up a fifth of a point. Lean hogs are up a half. Feeder cattle are up one third. We got inflation numbers, and inflation has cooled to 2.7%. If that's that's not believable. I'm sorry. CPI is a lie. It's the most manipulated metric in the history of economic metrics, and nobody should believe a single word of it except still people do. And I can tell because the Dow is up over a point. That's 457 points to the upside for the Dow. And the S and P is up half a percent, Nasdaq is up a third of a percent, and the S and P Mini is up 1.5, so it's shooting to the moon.
Meanwhile, Bitcoin holding at a $119,500, a $2,380,000,000,000 market cap. We can purchase 35.7 ounces of shiny metal rocks with our one Bitcoin of which there are 19,905,110.19 of, and average fees per block are still low. 0.03 BTC taking the fees on a per block basis. There's about 25 blocks carrying 78,000 unconfirmed transactions waiting to clear at high priority rates of five Satoshis per v byte. Low priorities are three. We have dropped in hash rate yet one more time, 885 exahashes per second, so we've lost a good 20 exahashes per second since yesterday, and you can do with that whatever you will. From happy birthday, yesterday's episode of Bitcoin and I got God's death. 237 says, thank you, sir. No, thank you. Psyduck with 743 says, Psyduck.
Pies with +1 21 says, thank you sir, no thank you. And who else we got? We got progressively worse with 210 says thank you, no thank you. And the bird with a 100 says nothing. And that's the weather report. Welcome to part two of the news that you can use. The comfrey owner's manual drops this afternoon. If you've heard Confrey mentioned but never planted it, this manual was made for you. It's a no nonsense, beginner friendly guide to the most useful plant you're probably not growing. Compre builds soil, feeds pollinators, boosts compost, heals wounds, and gives back more than it takes.
This manual shows you exactly how to grow it, use it, and multiply it without getting overwhelmed or making rookie mistakes. Download the free manual and start using comfrey with confidence. So what's inside? Well, what comfrey is and why it's a soil building powerhouse. How to source the right non evasive varieties of comfrey. Step by step planting, care, and harvesting guidance How to make liquid fertilizer with comfrey Tips for scaling your comfrey patch and putting it to work Straightforward answers to common concerns like is it really toxic there's there's a whole thing about that I'll read the manual and you'll you'll understand here's an excerpt from the very first part of the conferee owners manual What is Confrey and why is it underground gold?
Confrey is one of the most valuable plants that you can grow in a backyard or on a homestead, small or large. It's a perennial workhorse with deep roots that mine minerals no other plant can reach. And once it's in the ground, it stays for life. It's tough, productive, and unusually generous, pumping out biomass, minerals, medicine, and more with almost no maintenance. Historically, people have called it knit bone, and with good reason. Cultures across Europe used it for centuries to heal wounds, reduce inflammation, and even assist with broken bones. It's also one of the best plants you can grow for compost pile additions, making liquid fertilizer, animal fodder, and improving soil.
Confrey belongs to the borage family, though that's more of a technicality than a useful clue. The variety you want is Symphytum times Uplandicum, a naturally occurring hybrid between sorry, Symphantom officinal, which is common comfrey, and Symphantom asparum, also known as prickly comfrey. This hybrid forms a sterile plant which makes it much safer to grow because it won't spread by seed and overrun your yard like wild type comfrey. The two most trusted strains are Bocking four and Bocking 14, both of which were selected and trialed in England during the nineteen fifties by Lawrence d Hills at the Henry Doubleday Research Association. And out of 21 strains, these two rose to the top for their productivity, nutrient profile, and ease of management.
Bocking 14 is ideal for composting and medical use. Bocking four excels as animal fodder due to its digestibility and protein content. The manual keeps it very simple. You don't need a background in botany or permaculture to get results. Whether you're planning to just grow a crown or a 100 root cuttings, It's geared towards helping you get the most out of comfrey with clear steps, real uses, and no wasted time. So go over to bitcoinandshow.com. That's bitcoinandshow.com. Sign up, and you will be able to get the comfrey owner's manual in PDF. Just saying, if you've ever wanted to grow comfrey, you know, I mean, even though we're even though we're coming into fall, in some places, depending on where you are, like where like in Lubbock, Texas, I would have no problem planting comfrey roots right now, even though it's late in the season.
In fact, I would actually prefer to do it that way. Now if you're in Minnesota, it's probably a little too late in the season, but this is a good way to start understanding what Comfrey does and what it can do for you now so that by the time spring rolls around in your neck of the woods, you will be prepared to plant this stuff out. And like I said, if you're living in like zone seven, zone six, things like that, you can more than more than chances are more than good that you're gonna be able to successfully plant. And when I was in Lubbock and and, just South of Amarillo, Texas, Like I said, I planted the shit out of comfrey in the late late summer, early fall, and had great results because the summers down there were so brutal that sometimes it would smoke my new plants unless they were really protected from direct sunlight in the afternoon.
And, like, where to plant it and what times of you know, what kind of of of sunlight, all of that is in the conferee manual. So bitcoin and show dot com. Get bitcoinandshow.com. Go there. Sign up for the website. If you wanna use the free tier, that's fine. If you wanna support the show, that's more than appreciated. Bitcoin and show dot com. Now, Cango has acquired a 50 megawatt Bitcoin mining facility in Georgia for just under $20,000,000 according to Atlas twenty one. Let's see. NYSE listed Cango Incorporated has completed the acquisition of a 50 megawatt operational Bitcoin mining facility in Georgia, which is in The United States, investing just under 20,000,000 in a move aimed at strengthening its presence in the sector.
The newly acquired facility will enable Tango to implement a balanced operational model. 30 megawatts will be allocated to mining, and the remaining 20 megawatts will be dedicated to hosting services, for third party clients. This configuration provides the company with the flexibility to adapt to changing market conditions, alternating between proprietary mining and hosting services depending on profit opportunities. The Georgia site already includes electrical distribution systems, immersion ready racks, and on-site technical support, ensuring a smooth operational transition according to the company.
Cango's transformation represents one of the most significant corporate pivots in the industry. The company abandoned its core business in the Chinese automotive sector to fully embrace Bitcoin mining in 2025. So they were making cars, and now they're making Bitcoin. The shift included the disposal of its automotive operations in the People's Republic Of China, the entry of new shareholders in June, and a complete restructuring of the board and management in July. The move toward mining infrastructure began at the 2024 with the first purchases of dedicated mining machines.
Cango recently reached 50 exahashes per second joining the ranks of major industry players such as Mara and CleanSpark. In the most recent reported week, Cango mined a 149.1 Bitcoin bringing its reserves to 4,678.9 BTC valued at over $561,000,000. The company maintains an accumulation strategy as it approaches its goal of 5,000 BTC by the end of the year. The operational model adopted in the new facility will allow the company to balance cash flow and balance sheet exposure through operational flexibility. When market conditions favor direct mining, the company can reallocate its power capacity.
Otherwise, it can maximize revenue through hosting services, creating a more stable and predictable income stream. That model kinda bugs me. I mean, because what happens if I hire these people to host one of my machines? But then they do what? Just like hork the electricity for my machine and send me offline because a profit opportunity is is present? I don't know, man. Something about that does it that just doesn't seem right. But at least they're doing this. At least they're at least they have a revenue stream in so far as they're mining Bitcoin. Because unlike a bunch of other treasury companies, which are just nothing at this point but holding Bitcoin on their balance sheet, and somehow or another that's revenue, I don't like that. I don't like it from MicroStrategy.
I don't like it from Meta Planet. There's nothing I can do about it, but that doesn't mean that I gotta I'm not gonna rah rah the fact that micro or a strategy has no revenue model other than just issuing debt instrumentation, but that's that's not really revenue. At one point or another, these companies that are Bitcoin treasury companies are going to have to start cranking out a good or a product or a service that they can sell for actual money, whether that money's fiat or Bitcoin is left to be decided. I don't care. They've got to come up with something that they can sell. I mean, I don't like subscription services, and I'd even accept that as valid.
A subscription service for what, though? What is what is strategy gonna offer? They're out of the software business. They don't make anything. At least at least these guys from Cango used to manufacture cars, and now they just wanna mine Bitcoin and get out of the People's Republic Of China. Who can blame them? But shit, at least they've got a revenue stream, you know, because everybody needs a job. Right? So and speaking of jobs, we got Bitcoin job market exploding in July 2025, and this is out of lightning .news. Kirubi is, or Kirubai, I guess is how you pronounce his name, is writing this one.
Bitcoin's job market shattered expectations in July 2025, surging from a 184 new roles, which is a 52% year over year jump in the highest monthly growth of 2025 according to a report released by Bitvocation, a leading Bitcoin talent analytics platform. The data signals accelerating confidence in Bitcoin's infrastructure and a pivotal shift in hiring priorities. So here's the key findings from Bitvocation's July report. Number one, historic mining, or rather, historic hiring momentum. July listing soared up a 100 to a 184, which is which was up from a 135 in June, marking the second strongest hiring month of 2025.
Bitcoin only companies held 43% market share driving ecosystem focused growth. Developer demand roars back. Developer roles surged to 33% of all the listings, up from 25% in June, ending a multi quarter slowdown. Non developer roles like marketing, operations, and compliance still dominate at 67%, but technical talent is now the fastest growing segment. 45% of all roles are remote. Bitcoin only firms lead with 54% remote offerings versus 38% at multi asset companies. In The United States, there's 59 roles. Singapore has 13, Gibraltar has seven, and Czechia has six, and they emerged as top hiring hubs.
Roles like AI video create creator and AI systems optimization engineer have appeared, signaling stealth integration of AI tools into Bitcoin workflows. Mid to senior hires have been prioritized. Entry level roles dropped to 11% of postings as companies focused on execution. Bitcoin only, which is focused on ecosystem growth, 74% non dev roles in community and marketing. Multi asset firms have dry are driving, developing, hiring. 37% of those are tech roles to expand infrastructure. And then we have global talent shift. Singapore solidified its position as Asia's Bitcoin hub, while Europe in Gibraltar and Chechnya, and Latin America in Brazil have gained traction.
Bitvocation's proof of work lab, Bitcoin's talent pool includes elite professionals and roles that are open. This is really, really poorly written sentence. I don't know what they were trying to say. The in 2025, that is poised to become Bitcoin's strongest hiring quarter yet. Companies seeking data partnerships or custom hiring insights can contact Bitvocation to leverage their real time job market intelligence. Yeah. Yeah. Yeah. So so ending with an ad, but, hey, you you gotta plug yourself. But all all it means is that Bitcoin hiring is coming back. Does that indicate anything like a cycle top? I don't know.
I don't know. I don't think we have enough evidence as to what happened over the last two cycles. Like, for instance, was their hiring starting was Bitcoin hiring starting to increase right before a crash? Yeah. I don't know. I think at one point or another, Bitcoin hiring and Bitcoin jobs are going to be some kind of leading indicator of maybe crashes, but also maybe bull markets. It's it's this is one of the things that humans do. We try to recognize patterns. Is there a pattern in job hiring during a market cycle? And the question the real question is, are we going to have cycles anymore now that the landscape of Bitcoin has changed? And nobody can really answer that question.
The people that say they know either don't know or are straight up lying to you. But we're gonna end it today with Meta Planet boosting their Bitcoin reserves with a $61,000,000 purchase. This is out of coindesk.com. Meta Planet said that it bought another 518 Bitcoin. The purchase was made at an average price of 118,519 per coin, bringing the total purchase value to 61,000,000, the Tokyo based investment company said on x. The company, the holder of the sixth largest corporate stash of Bitcoin, now holds some 18,113 Bitcoin valued at 1,850,000,000.00.
It paid an average of 101,000 per Bitcoin, and Meta Planet has also provided an update on its Bitcoin related performance metrics. Between July 1 and August 12, the BTC yield stood at 26.5%, reflecting the growth in Bitcoin holdings relative to fully diluted shares outstanding. In previous BTC yield figures, highlight notable fluctuations. The figure was 41.7% in the 2024, rising to 309.8% by year end, and then it dropped to 95.6% in the first quarter before rebounding to a 129.4% in the second. The company measures BTC yield and BTC gain to track the accretive impact of its stock or its Bitcoin acquisition strategy for shareholders.
The stock fell 2.7% to $6.60 on Tuesday. So just be aware there that Meta Planet is not backing down off of its treasury strategy. The oh, there's only three companies that I think are actual contenders for surviving this rush to be a Bitcoin treasury company. That is Strategy, Meta Planet, and similar scientific is at the bottom of my list. And they're at the bottom of my list because it is kind of a hail Mary for them, but they at least still have a revenue stream insofar as they make medical products, and they still sell medical products. They have revenue coming into that company.
Meta Planet and strategy, not so much. But they have massive stacks of Bitcoin. 18,000 Bitcoin is not strategy's 628,000 Bitcoin, but it's still a lot of Bitcoin. You can do you can do a lot of things with that Bitcoin, and this is is the next phase for Bitcoin treasury companies that are going to survive. They've got to figure out something to do. You can't just hold Bitcoin. You can't. You can't. I'm sorry. You can't. At one point or another, if you're a company, then your job is to do something. So what do I think strategy would do? I actually think strategy is just gonna turn into a financing bank.
I think they're gonna make loans. I think they're gonna make competitive loans. And I think what's going to happen, I started thinking about it yesterday, it would not surprise me because they have so much access to the larger capital markets. It would not surprise me if they literally loan out some of their big or not not loan out. They collateralize some of their Bitcoin to make fiat loans for themselves at, like, let's say, 3%. And then they take that loan and they make, like, home loans, like mortgage loans at five and a half percent, which is still competitive against something like Wells Fargo.
They'll take and they'll just basically take the premium off that as revenue. That's a viable model. They don't have to produce software. They don't have to make a widget, put it into a box, and ship it to Walmart. They their product could literally be home loans that are under the the average US mortgage rate. They could do that. That's not impossible. Now for Meta Planet, what would they do? They should probably get back into hotel management, honestly, except dude in The United States. I mean, they they they have the background in it. I mean, why not leverage your the Bitcoin that they that they own to make to make loans so that they can buy hotels and service those loans with good management practices?
I mean, at least there's something there. I mean, just be a just be better than the than the hotels. Have you been to, like, a Comfort Inn lately? It's honestly, at this point, it's literally staffed by two people at a time. It's disgusting. When I was a kid, when I went to a hotel, it was busy. I mean, there were people at the front desk. There were people in the lobby. There were like there, you know, maid staff up and down the halls. No. You go to a comfort in or a quality in or a Hampton Inn or something like that. It's a what? It's almost a one person show.
It's really sad where we've gotten to it. I would like to actually see Meta Planet bring back, you know, how much fun it used to be at a hotel when when it wasn't just a pile of garbage that you threw up and made sure that there was, you know, cans and cans and boxes and boxes of powdered eggs for your free freaking breakfast. I mean, but the point is, is that you got to do something. I mean, if you've got all this capital, why are how are you going to deploy it to in the hopes of gaining more capital? See, that's what capitalism is. You know, that that true capitalism is I I deploy capital, and it doesn't have to be money. It could be just time.
You know? Usually, it's combination. There's money. There's time. There's a couple of other things involved. You're leveraging your network. That's a capital. You leverage that in hopes of making more capital later on. But the way that these treasury companies are looking right now, it's like they're not doing anything but selling as much debt instrumentation as they can to get as much fiat as they can so they can convert it into a high quality asset like Bitcoin. But what comes next? See, that's what that's why I I I worry about this stuff is that they're not even talking about what comes next. There there's they it's almost as if they just stopped dead cold in their imagination, both at at strategy and at Meta Planet.
I expect that Michael Saylor, at one point or another, will actually start saying something about what he plans to do, how he plans to start making revenue outside of debt instrumentation sales. But until that day, I'm gonna continue to be a little bit wary about these Bitcoin treasury companies, and I sure as shit ain't gonna buy any of their stock. I'll 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.
It is 07:34AM Pacific Daylight Time. It is the August 2025, and this is episode eleven forty five of Bitcoin and Monero's in trouble. We're gonna talk about a little bit of shit coinery today, just to bring it home that what people think are safe and secure may not actually be safe and secure. We'll get into it. Stake and Shake has reported some pretty good numbers since they started accepting Bitcoin on the lightning network for their services, which is, well, food. It's fast food. And tallow fries, which they keep they keep saying it's tallow fries. Please understand that those things are precooked in seed oil before they actually get to a Steak and Shake when they actually are put into beef tallow. But before they hit beef tallow, those things are pre fried in seed oil. And until such time a Steak and Shake comes out and says, even at our preparation manufacturing plants where we're gonna use beef tallow, then they're not really beef tallow fries, but, you know, it doesn't really matter.
Kudos to them for taking Bitcoin, and it certainly has helped their balance sheet as we will see. Tornado Cash has another wrinkle. Yet another developer has been arrested. This is new. This this isn't the this isn't the the the Roman storm stuff. This isn't the old Tornado Cash stuff. This is brand spanking new Tornado Cash alley, baby. It's coming to you. We're we're gonna read it from Lola Leitz because she pretty much is the best one to get information from when it comes to the tornado cache stuff. And then Terraform Labs founder, Du Kwon, may flip. There may be a flippening.
There may be a flippening. We'll have to see. And then I'm going to talk a little bit about the Conferee owner's manual today. I'm gonna drop that sometime this afternoon. You will have to sign up to the bitcoinandshow.com website. All all you're gonna do is is give me your email address. That's that's pretty much it. You'll have to select that the way that the the website that that I'm working with, the template that I'm working with, the way it works is that you'll have to pick a tier. One of the tiers is free and the other tier is actual you give me money. It's $50 a year if you want to do it for a year.
So you don't have to select that one. If you want the if you want the conferee manual for free, you can select just the free tier. It's okay by me. If you wanna support the show and do the $50 a year, I'd appreciate it, but everybody's gonna be able to get this Comfrey manual. It's gonna show show you how to use Comfrey, why you want this plant in your garden. It goes through the whole ball of wax. It's it's short, but in that shortness, it is relatively extensive. It is a great starter's manual for people who want to get into growing their own comfrey, and I'll tell you why you wanna do that later. And then, Cango has acquired a Bitcoin mining facility in Georgia.
The Bitcoin jobs market is heating up and Meta Planet buys more Bitcoin. Let's go back to the Monero story. Monero price has dipped as Cubic likely succeeded in a 51% attack. That's right. We haven't we haven't really heard about 51% attacks in a while, and Monero just got one. Adrian Zmunksy is writing for Cointelegraph. The privacy focused cryptocurrency Monero has suffered a major disruption. 60 minuteed blocks have been discarded from its blockchain in the past twenty four hours amid an ongoing attempted 51% attack by the Qubic network.
The Monero consensus status dashboard shows Monero saw 60 orphaned blocks, valid blocks that were rejected over the last seven twenty blocks. The disruption comes amid an ongoing economic attack by the Cubic network incentivizing selfish mining. Cubic miners redirect their compute power to mine Monero and sell the proceeds to buy and burn Cubic tokens while being paid in Cubic coin. Cubic miners reportedly earn more than Monero miners under this setup. The attack has sparked fears of a possible 51% attack, a rare and very serious event that can let attackers rewrite transactions or block transactions entirely.
An orphaned block is a valid block excluded from the main chain because another competing block at the same block height was accepted first. In selfish mining, a miner with significant hash rate withholds blocks and publishes them strategically to overtake the public chain causing honest miners' work to be discarded. As of the time of writing, Monero's price stands at over $247 which is down 8.6% from the price of over $276 reported just twenty four hours ago. Cubic's Monero Mining Pool openly engages in selfish mining with Cubic founder Sergei Ivancidio admitting it in an ex post.
Sergei claimed in a Tuesday ex post that Cubic has achieved 51% over Monero and the team is waiting for independent confirmations. A 51% attack occurs when a single entity, CUBIC mining pool, controls over half of a blockchain's network mining power or stake, allowing them to manipulate transactions. Zhong Chenming, the cofounder of crypto cybersecurity firm SlowBist, said in the next post that, quote, this time the 51% attack on Monero seems to have succeeded and added the cost was also high. It's unclear what the economic benefits of doing this are in the end. In theory, the cubic mining pool can now rewrite the blockchain, achieve double spending, and censor any transactions, end quote.
Damn. Doubts remain around whether a successful 51% attack occurred. Engaging in selfish mining with control over a high percentage of the hash rate that is short of the majority can occasionally lead to orphan blocks. Monero's total hash rate evaluation by Coinwares results in a five giga hash per second estimation, and unverified data provided by Cubic claims a peak hash rate of 3.01 gigahashes per second, which is more than sufficient, and a current hash rate of 2.08 gigahashes per second, which is insufficient for a 51% attack.
The Monero consensus status also indicates that the number of blocks mined by unknown mining pools and solo miners reached nearly 30% on August 11. This could signal Cubic controlling most of the hash rate for a brief period or controlling a significant portion, but still a minority of the hash rate. Sarai DEX's lead developer Luke Parker raised an issue with reports that the 51% attack took place in a separate expost. He noted that a six block deep network reorganization with block orphaning does not mean a 51% attack was successful.
Quote, it does mean an adversary with a high amount of hash rate got lucky. Cubic and Monero are locked in an ongoing hacking war trading countermeasures. Sergei previously wrote on x that Monero broke Cubic's selfish mining system, prompting his fix. Before that, Sergei accused a developer of Monero mining software, XM Rig, Sergei Chikin, cannot pronounce it, of denial of service attack in Cubic's pool, leading to hash rate losses, a claim Chernick disputes. The attack first started in late July when the community noticed what it described as an economic attack. The operation uses economic incentives in an attempt to take control over most of Monero's hash rate and consequently the network.
Niko Demchuck, head of legal at on chain forensics firm AMLbot, told Cointelegraph that Cubic's attack on Monero could be deemed computer sabotage or unauthorized access under Belarusian and European Union laws. However, no statute explicitly mentions 51% attacks. Demchak said Belarus's cybercrime rules also apply or could apply if blockchain manipulation disrupts protected systems. So for those people who are are continuously tout Monero as the better choice than Bitcoin, I gotta warn you, they just don't have the amount of security that is necessary to stop this kind of crap.
And then somebody out there also already knows that two mining pools of Bitcoin own 60% of the hash rate. Do I think that that's good? No, I do not. I do not think that that's good, which is why I will never understand why people are dead set against solo mining. I I've got a little I've got a little bit ax over here. And when I I I posted that I had bought a bit ax, and some people gave me shit for it saying, well, you just wasted your money on a lottery ticket. Yeah. But I'm providing hash rate that is not owned by any of the other pools. Is it a lot of hash rate? Of course not. But if there's a lot of people like me that have a lot of solo miners, there can be an impact.
And it's not helpful when other people tell me that what I'm doing is stupid. Because, yes, I've heard that. You bought a bit axe you're stupid you lost money that's not why I did not buy a bit axe because I actually thought I was going to mine a block I bought a bit axe to help decentralize the mining network but you know attitudes are attitudes and some people just suck. Let's just say it that way. And speaking of suck, have you sucked on a shake lately? Stake and Shake is thanking Bitcoiners because their same store sales rose 11% in the second quarter.
Braden Lindria from Cointelegraph says US fast food chain, Steak and Shake, tipped its hat to Bitcoiners after reporting a 10.7 quarter over quarter same store sales increase in the second quarter outpacing America's top food chains. They beat McDonald's on this one, guys. Quote, Bitcoin has been a game changer, Steak and Shake posted on Friday, thanking Bitcoiners for their contributions since May 16 when the fast food chain started accepting Bitcoin as payment. Wow. So here's the actual the actual tweet says from Steak and Shake says, in the 2025, Steak and Shake same store sales increased by 10.7%.
Bitcoin has been a game changer. Thank you, Bitcoiners, Bitcoin burgers, and beyond. And there's a little rocket ship there. The solid growth suggests merchant Bitcoin payments may still be alive in The US where Bitcoin is mostly treated as an investment, unlike in less developed countries where it is more frequently used in day to day transactions. Quote, Bitcoin continues to be ignored, but they won't be able to ignore it forever. End quote. Steak and Shake same quarter sales growth was the highest among America's top fast food chains in the quarter. An ex post from Restaurant Business Magazine's editor in chief Jonathan Mayes on Friday showed a range of fast food chains including McDonald's, Domino's, and Taco Bell reporting same store sales growth ranging from negative 7.1% to positive 6.1%.
Wow. The fast food chain started accepting Bitcoin as payment on May 16 in all of its locations where permitted by law, including France, Monaco, and Spain, in addition to The United States. It said the change will make cryptocurrency payments available to more than 100,000,000 customers. About two weeks after the opening day, Steak and Shake's chief operating officer Dan Edwards also noted that Bitcoin had saved the firm 50% in processing fees, quote, this means that Bitcoin is a win for the customer, it's a win for us as the merchant, and it's a win for you and the Bitcoin community, Edwards said at the Bitcoin twenty twenty five conference in late May. He noted that Stake and Shake accounted for 0.2% of all Bitcoin transactions on its opening day.
The number of Stake and Shake stores in The United States has fallen from its peak of 628 in 2018 to 397 as of 05/28/2025, scrape hero data states. Florida is home to most Steak and Shake stores with 79, which is 20% of all Steak and Shake stores in The United States. So that may explain why there were so many Bitcoiners down in Florida. So 10% store over, quarter over quarter. That's pretty impressive for a fast food joint, dude. And considering that McDonald's did I think McDonald's did only 2.4 quarter over quarter, and Starbucks, by the way, was down 2%. They lost 2% in revenue. So we may actually see a little bit more merchant adoption because just like you have a whole slew of Bitcoin treasury companies coming out of the woodwork, you've got a whole slew of fast food joints that they may actually do the whole copycat thing of Steak and Shake and start taking taking Bitcoin for their, food. Who knows?
Now from the rage, and we should be enraged, this would be Lola Litz's outfit. Developer has been arrested over Tornado Cash research. Wow. This is really ugly. Quote, I'm in Turkey, Izmir. They are telling my lawyer that I helped people to misuse Ethereum, and I might have a charge. Federico Carone, an Ethereum core developer and founder of the venture studio Lambda Class wrote last night on x. After a night in Turkish custody, during which Carone was able to keep his phone and live post some some of the ordeal to x, he followed up with a longer explanatory post when he was able to leave the country this morning. Quote, I'm finally out.
Safe and free, Karon posted. According to his account of events, the Turkish minister of internal affairs had filed a case accusing Karon of helping others misuse Ethereum apparently connected to a privacy protocol. Quote, a few years ago, on the day Alexei Pertsev was detained, we received a call that gladly didn't escalate any further regarding an academic paper and code we had published about Tornado Cash called Tutela, Carone wrote. We never helped anyone engage in illegal activity. It was purely research on mixers and their properties. Tutela is an open source tool for the assessment of user privacy on Ethereum and Tornado Cash, according to a paper referenced by Carony.
Caron's arrest is a stark reminder that prosecutions that begin in The US rarely stop at The United States as anti money laundering and counter terrorist financing efforts are understood to operate in a global framework. Quote, our local Turkish attorney is already working on our defense. We still don't have the full picture of what happened or why it happened, but we will bring in the best team that we can to resolve it. If needed, one things hold on. If needed, one one things are sorted out, I think he means once. If needed, once things are sorted out, I will come back to clear my name and defend ourselves.
So we've got another guy that's in the Who's Scout. This time, he didn't actually build anything. This is just an academic paper. This is really sketchy at best because he didn't actually pub I mean, he published code, but he didn't actually publish code to some kind of server and then run the server. It's on paper or in modern times a PDF or something like that. It's an academic paper. How would you like to, like, be a a biologist and write a paper about, I don't know, e coli and get arrested for it? Because that's what's happened here. This is this escalation of this kind of thing is probably going to get a lot worse before it gets better. So, again, I implore everybody working on Bitcoin, and honestly, I'm gonna expand that to just general crypto.
If you're working on these tools, do not do it under your own name. Don't do that. There's no reason to do that. Again, the whole have fun staying poor element comes back to mind here. As Bitcoiners, especially on when I was still on Twitter, we used to just love pulling the have fun staying poor train on some dumb son of a bitch that said something cruel about Bitcoin or something stupid about Bitcoin or clearly didn't understand Bitcoin. And we would always come back with h, you know, HFSP, have fun staying poor. The the people that are best suited to actually have fun staying poor are Bitcoiners ourselves.
And the reason I'm even bringing that up is because I've I've said it a couple of times and I wanna reiterate it here. If you're going to build a company, a for profit company, because you think you're gonna get smoking rich by offering privacy tools in the crypto ecosystem, you need to think again. Because now you can't even write an academic paper. You can't even theorize in a PDF about some things without being arrested and thrown in a Turkish prison. And if you've ever seen Midnight Express, the movie from the very late seventies or maybe even mid seventies, you don't wanna see the inside of a Turkish prison ever. And if you haven't seen that movie, I highly recommend that you do just so you know what the inside of a Turkish prison looks like and then marry that up with the fact that you could end up in one if you write an academic paper.
So why do I bring up have fun staying poor? Well, don't use your own name. Don't build a business. Just build the tools. Don't do I mean, do it in the let let the tool breathe and walk around in the open, but you can't make money from it. You unless you are just like an idiot savant and figure out a way to make oodles of cash without a LLC or an incorporation or or a business or or loans or anything that can that can connect you to your identity, unless you're a guy that can figure out how to do that, then you run the risk of being arrested everywhere you go.
Don't use your real legal name. Use a NIM. Don't connect figure out everything that you can do to completely detach your NIM identity from your real world identity. And I wish I could give you a manual on how to do that, but honestly, I can't. This is it depends on your context, and I don't know everybody's context. But I will say this, for those people that wanna build a company because they wanna make money and they're operating in the space of privacy tools, I I don't I I just don't think it's going to work the way you think it's going to work. So therefore, if you can learn to have fun staying poor, then you're going to be in an unassailable position.
Alright. Great ghee is in the news. Actually, it's not in the news. It's in the Circle p. Greatghee.com. That's great, g h e e, that's how you spell ghee, is the Circle p vendor of the day. What does he sell? Well, he sells handmade grass fed ghee. It's like butter, only clarified. Here, let's just give you the explanation here on the greatghee.com website. What is ghee? Ghee or clarified butter is made by simmering butter to remove water, milk solids, and impurities leaving behind a golden lactose free oil with a nutty flavor and a high smoke point, which is around 485 degrees Fahrenheit, 252 degrees Celsius.
Unlike regular butter, ghee is shelf stable and versatile for cooking, baking, or even skin care. It's delicious. It is a staple beginning for almost all Indian food that that we make here at the at at our house and most of the Indian food that we get out at restaurants. But clearly, it's not just for Indian food. I use it to make omelettes. I use it to fry eggs in. I use it on steaks. I use it everywhere. It's just the animal fat from milk. If you get right down to it, if I milk a cow, I can drink the milk or I can make buttermilk out of it, which means that I'm making butter. I take the butter, I melt the butter down, and then I simmer it and all of the rest of anything that's left over in the butter, that falls out and all I'm left with is pure beautiful animal fat from milk. That's essentially what we're talking about. And shelf stable means that it doesn't need to be refrigerated.
I I we don't refrigerate our ghee, and I never have because that's one of the reasons ghee was invented or well, people figured out ghee would keep for long, long, long periods of time. It's a food preservation method of high quality animal fat. It doesn't oxidize readily. It's very, very stable. You're going to want to get it. And if you just tell just tell the guy at Great Gee that, Bitcoin and since you just use just put Bitcoin and in the order comments section, You're not gonna get you're not gonna get, you know, like anything off, at least at least I don't think so. Hold on. Let me let me just check something out here for a second. I I gotta make sure about that. Yeah. Just tell them that that Bitcoin and censorship, because this is value for value advertising in the circle p. If Great Guy knows that you bought his product because I essentially convinced you to buy it, then he gets to give me Satoshis any amount that he wants. It depends on what he feels that that particular sale was worth to him. That's how the circle p works. If you want some of the best shelf stable butter you're ever going to have, you're gonna go to greatghee.com.
That's great, ghee,.com, and tell them Bitcoin and sent you with the coupon code Bitcoin and. Now Terraform Labs case, we haven't heard about this one in a while. Do Kwon looks like he's gonna flip and plead guilty. This is Atlas 21. A federal judge scheduled a conference on August 12, which is today, during which Do Kwon, cofounder of Terraform Labs, may enter a plea change regarding the criminal charges against him. Judge Paul Engelmayor of the United States District Court for the Southern District of New York issued an order on August 11 requiring the parties to appear in court the following day.
The summons suggest that Do Kwon and his legal team have reached an agreement with US federal authorities. According to court documents, the district attorney's office team, led by acting prosecutor Jay Clayton, has engaged in productive discussions with the defendant's lawyers for several months. Initially, last January, Do Kwon pleaded pleaded not guilty to nine criminal counts. Holy shit. Including securities fraud, market manipulation, money laundering, and wire fraud. Wow. That's dude, that's enough to put your ass away for a long time. This followed a lengthy legal battle over his extradition from Montenegro, which ended with his transfer to The United States.
Do Kwon's indictment dates back to March 2023 when US authorities accused him of contributing to the collapse of the Terra ecosystem causing losses of around, you know, $40,000,000,000 to investors. The 2022 collapse forced the entrepreneur into hiding for months until his arrest in Montenegro for using forged travel documents. The extradition battle lasted over a year with competing requests from The United States and South Korea. Ultimately, in December 2024, Do Kwon was handed over to US authorities and has been held without bail ever since. Judge Engelmeier specified that, quote, the defendant should be prepared to provide a narrative statement incorporating all elements of the offenses or offense to which he pleads guilty, indicating that a plea agreement is indeed being negotiated. Yeah. It sounds like it to me. And separately, Terraform Labs reached a settlement with US Securities and Exchange Commission in 2024, agreeing to pay approximately $4,500,000,000 in fines, civil penalties, and prejudgment arrests. So, Do Kwon, the wonder kid, looks like he's gonna go straight down to hell and he deserves everything he gets.
He's a shit coiner of massive proportions and the whole collapse of the Terra ecosystem just dude. And this is this is what prompted Novogratz to get a Luna tattoo on his left arm, which will be with him forever because right after he got that tattoo is when all this shit broke loose. And it I mean, everything broke loose at the same time. This was FTX. This is Terra. This is Luna. This is like BlockFi, the whole collapse that everybody thought was really centered around FTX was actually a whole pool of people swimming in urinated water, and they got the plug pulled on them all at once. It just so happened that Sam Bankman Fried was the most, I don't know, most notable one of the bunch.
Let's run the numbers. Oil taking it on the chin again. We are down point 63% on West Texas Intermediate, $63.56 a barrel. Brent Norsee is down a third to $66.38. Natural gas getting pummeled 4% to the downside, $2.83 per thousand cubic feet. Gasoline is sliding down point 08% to $2.07 a gallon. Gold and its metal brethren are not doing well today either. Point 5% to the downside for gold, $33.84 and 7 dimes. Silver is down a quarter. Platinum is down a third. Copper is actually up though, one and three quarters of a point in the green. Palladium is down almost two full points. Ag is pretty much mixed today. The biggest winner is wow, sugar 2.79% to the upside.
Biggest loser is coffee 2.17 to the downside. Live cattle is up a fifth of a point. Lean hogs are up a half. Feeder cattle are up one third. We got inflation numbers, and inflation has cooled to 2.7%. If that's that's not believable. I'm sorry. CPI is a lie. It's the most manipulated metric in the history of economic metrics, and nobody should believe a single word of it except still people do. And I can tell because the Dow is up over a point. That's 457 points to the upside for the Dow. And the S and P is up half a percent, Nasdaq is up a third of a percent, and the S and P Mini is up 1.5, so it's shooting to the moon.
Meanwhile, Bitcoin holding at a $119,500, a $2,380,000,000,000 market cap. We can purchase 35.7 ounces of shiny metal rocks with our one Bitcoin of which there are 19,905,110.19 of, and average fees per block are still low. 0.03 BTC taking the fees on a per block basis. There's about 25 blocks carrying 78,000 unconfirmed transactions waiting to clear at high priority rates of five Satoshis per v byte. Low priorities are three. We have dropped in hash rate yet one more time, 885 exahashes per second, so we've lost a good 20 exahashes per second since yesterday, and you can do with that whatever you will. From happy birthday, yesterday's episode of Bitcoin and I got God's death. 237 says, thank you, sir. No, thank you. Psyduck with 743 says, Psyduck.
Pies with +1 21 says, thank you sir, no thank you. And who else we got? We got progressively worse with 210 says thank you, no thank you. And the bird with a 100 says nothing. And that's the weather report. Welcome to part two of the news that you can use. The comfrey owner's manual drops this afternoon. If you've heard Confrey mentioned but never planted it, this manual was made for you. It's a no nonsense, beginner friendly guide to the most useful plant you're probably not growing. Compre builds soil, feeds pollinators, boosts compost, heals wounds, and gives back more than it takes.
This manual shows you exactly how to grow it, use it, and multiply it without getting overwhelmed or making rookie mistakes. Download the free manual and start using comfrey with confidence. So what's inside? Well, what comfrey is and why it's a soil building powerhouse. How to source the right non evasive varieties of comfrey. Step by step planting, care, and harvesting guidance How to make liquid fertilizer with comfrey Tips for scaling your comfrey patch and putting it to work Straightforward answers to common concerns like is it really toxic there's there's a whole thing about that I'll read the manual and you'll you'll understand here's an excerpt from the very first part of the conferee owners manual What is Confrey and why is it underground gold?
Confrey is one of the most valuable plants that you can grow in a backyard or on a homestead, small or large. It's a perennial workhorse with deep roots that mine minerals no other plant can reach. And once it's in the ground, it stays for life. It's tough, productive, and unusually generous, pumping out biomass, minerals, medicine, and more with almost no maintenance. Historically, people have called it knit bone, and with good reason. Cultures across Europe used it for centuries to heal wounds, reduce inflammation, and even assist with broken bones. It's also one of the best plants you can grow for compost pile additions, making liquid fertilizer, animal fodder, and improving soil.
Confrey belongs to the borage family, though that's more of a technicality than a useful clue. The variety you want is Symphytum times Uplandicum, a naturally occurring hybrid between sorry, Symphantom officinal, which is common comfrey, and Symphantom asparum, also known as prickly comfrey. This hybrid forms a sterile plant which makes it much safer to grow because it won't spread by seed and overrun your yard like wild type comfrey. The two most trusted strains are Bocking four and Bocking 14, both of which were selected and trialed in England during the nineteen fifties by Lawrence d Hills at the Henry Doubleday Research Association. And out of 21 strains, these two rose to the top for their productivity, nutrient profile, and ease of management.
Bocking 14 is ideal for composting and medical use. Bocking four excels as animal fodder due to its digestibility and protein content. The manual keeps it very simple. You don't need a background in botany or permaculture to get results. Whether you're planning to just grow a crown or a 100 root cuttings, It's geared towards helping you get the most out of comfrey with clear steps, real uses, and no wasted time. So go over to bitcoinandshow.com. That's bitcoinandshow.com. Sign up, and you will be able to get the comfrey owner's manual in PDF. Just saying, if you've ever wanted to grow comfrey, you know, I mean, even though we're even though we're coming into fall, in some places, depending on where you are, like where like in Lubbock, Texas, I would have no problem planting comfrey roots right now, even though it's late in the season.
In fact, I would actually prefer to do it that way. Now if you're in Minnesota, it's probably a little too late in the season, but this is a good way to start understanding what Comfrey does and what it can do for you now so that by the time spring rolls around in your neck of the woods, you will be prepared to plant this stuff out. And like I said, if you're living in like zone seven, zone six, things like that, you can more than more than chances are more than good that you're gonna be able to successfully plant. And when I was in Lubbock and and, just South of Amarillo, Texas, Like I said, I planted the shit out of comfrey in the late late summer, early fall, and had great results because the summers down there were so brutal that sometimes it would smoke my new plants unless they were really protected from direct sunlight in the afternoon.
And, like, where to plant it and what times of you know, what kind of of of sunlight, all of that is in the conferee manual. So bitcoin and show dot com. Get bitcoinandshow.com. Go there. Sign up for the website. If you wanna use the free tier, that's fine. If you wanna support the show, that's more than appreciated. Bitcoin and show dot com. Now, Cango has acquired a 50 megawatt Bitcoin mining facility in Georgia for just under $20,000,000 according to Atlas twenty one. Let's see. NYSE listed Cango Incorporated has completed the acquisition of a 50 megawatt operational Bitcoin mining facility in Georgia, which is in The United States, investing just under 20,000,000 in a move aimed at strengthening its presence in the sector.
The newly acquired facility will enable Tango to implement a balanced operational model. 30 megawatts will be allocated to mining, and the remaining 20 megawatts will be dedicated to hosting services, for third party clients. This configuration provides the company with the flexibility to adapt to changing market conditions, alternating between proprietary mining and hosting services depending on profit opportunities. The Georgia site already includes electrical distribution systems, immersion ready racks, and on-site technical support, ensuring a smooth operational transition according to the company.
Cango's transformation represents one of the most significant corporate pivots in the industry. The company abandoned its core business in the Chinese automotive sector to fully embrace Bitcoin mining in 2025. So they were making cars, and now they're making Bitcoin. The shift included the disposal of its automotive operations in the People's Republic Of China, the entry of new shareholders in June, and a complete restructuring of the board and management in July. The move toward mining infrastructure began at the 2024 with the first purchases of dedicated mining machines.
Cango recently reached 50 exahashes per second joining the ranks of major industry players such as Mara and CleanSpark. In the most recent reported week, Cango mined a 149.1 Bitcoin bringing its reserves to 4,678.9 BTC valued at over $561,000,000. The company maintains an accumulation strategy as it approaches its goal of 5,000 BTC by the end of the year. The operational model adopted in the new facility will allow the company to balance cash flow and balance sheet exposure through operational flexibility. When market conditions favor direct mining, the company can reallocate its power capacity.
Otherwise, it can maximize revenue through hosting services, creating a more stable and predictable income stream. That model kinda bugs me. I mean, because what happens if I hire these people to host one of my machines? But then they do what? Just like hork the electricity for my machine and send me offline because a profit opportunity is is present? I don't know, man. Something about that does it that just doesn't seem right. But at least they're doing this. At least they're at least they have a revenue stream in so far as they're mining Bitcoin. Because unlike a bunch of other treasury companies, which are just nothing at this point but holding Bitcoin on their balance sheet, and somehow or another that's revenue, I don't like that. I don't like it from MicroStrategy.
I don't like it from Meta Planet. There's nothing I can do about it, but that doesn't mean that I gotta I'm not gonna rah rah the fact that micro or a strategy has no revenue model other than just issuing debt instrumentation, but that's that's not really revenue. At one point or another, these companies that are Bitcoin treasury companies are going to have to start cranking out a good or a product or a service that they can sell for actual money, whether that money's fiat or Bitcoin is left to be decided. I don't care. They've got to come up with something that they can sell. I mean, I don't like subscription services, and I'd even accept that as valid.
A subscription service for what, though? What is what is strategy gonna offer? They're out of the software business. They don't make anything. At least at least these guys from Cango used to manufacture cars, and now they just wanna mine Bitcoin and get out of the People's Republic Of China. Who can blame them? But shit, at least they've got a revenue stream, you know, because everybody needs a job. Right? So and speaking of jobs, we got Bitcoin job market exploding in July 2025, and this is out of lightning .news. Kirubi is, or Kirubai, I guess is how you pronounce his name, is writing this one.
Bitcoin's job market shattered expectations in July 2025, surging from a 184 new roles, which is a 52% year over year jump in the highest monthly growth of 2025 according to a report released by Bitvocation, a leading Bitcoin talent analytics platform. The data signals accelerating confidence in Bitcoin's infrastructure and a pivotal shift in hiring priorities. So here's the key findings from Bitvocation's July report. Number one, historic mining, or rather, historic hiring momentum. July listing soared up a 100 to a 184, which is which was up from a 135 in June, marking the second strongest hiring month of 2025.
Bitcoin only companies held 43% market share driving ecosystem focused growth. Developer demand roars back. Developer roles surged to 33% of all the listings, up from 25% in June, ending a multi quarter slowdown. Non developer roles like marketing, operations, and compliance still dominate at 67%, but technical talent is now the fastest growing segment. 45% of all roles are remote. Bitcoin only firms lead with 54% remote offerings versus 38% at multi asset companies. In The United States, there's 59 roles. Singapore has 13, Gibraltar has seven, and Czechia has six, and they emerged as top hiring hubs.
Roles like AI video create creator and AI systems optimization engineer have appeared, signaling stealth integration of AI tools into Bitcoin workflows. Mid to senior hires have been prioritized. Entry level roles dropped to 11% of postings as companies focused on execution. Bitcoin only, which is focused on ecosystem growth, 74% non dev roles in community and marketing. Multi asset firms have dry are driving, developing, hiring. 37% of those are tech roles to expand infrastructure. And then we have global talent shift. Singapore solidified its position as Asia's Bitcoin hub, while Europe in Gibraltar and Chechnya, and Latin America in Brazil have gained traction.
Bitvocation's proof of work lab, Bitcoin's talent pool includes elite professionals and roles that are open. This is really, really poorly written sentence. I don't know what they were trying to say. The in 2025, that is poised to become Bitcoin's strongest hiring quarter yet. Companies seeking data partnerships or custom hiring insights can contact Bitvocation to leverage their real time job market intelligence. Yeah. Yeah. Yeah. So so ending with an ad, but, hey, you you gotta plug yourself. But all all it means is that Bitcoin hiring is coming back. Does that indicate anything like a cycle top? I don't know.
I don't know. I don't think we have enough evidence as to what happened over the last two cycles. Like, for instance, was their hiring starting was Bitcoin hiring starting to increase right before a crash? Yeah. I don't know. I think at one point or another, Bitcoin hiring and Bitcoin jobs are going to be some kind of leading indicator of maybe crashes, but also maybe bull markets. It's it's this is one of the things that humans do. We try to recognize patterns. Is there a pattern in job hiring during a market cycle? And the question the real question is, are we going to have cycles anymore now that the landscape of Bitcoin has changed? And nobody can really answer that question.
The people that say they know either don't know or are straight up lying to you. But we're gonna end it today with Meta Planet boosting their Bitcoin reserves with a $61,000,000 purchase. This is out of coindesk.com. Meta Planet said that it bought another 518 Bitcoin. The purchase was made at an average price of 118,519 per coin, bringing the total purchase value to 61,000,000, the Tokyo based investment company said on x. The company, the holder of the sixth largest corporate stash of Bitcoin, now holds some 18,113 Bitcoin valued at 1,850,000,000.00.
It paid an average of 101,000 per Bitcoin, and Meta Planet has also provided an update on its Bitcoin related performance metrics. Between July 1 and August 12, the BTC yield stood at 26.5%, reflecting the growth in Bitcoin holdings relative to fully diluted shares outstanding. In previous BTC yield figures, highlight notable fluctuations. The figure was 41.7% in the 2024, rising to 309.8% by year end, and then it dropped to 95.6% in the first quarter before rebounding to a 129.4% in the second. The company measures BTC yield and BTC gain to track the accretive impact of its stock or its Bitcoin acquisition strategy for shareholders.
The stock fell 2.7% to $6.60 on Tuesday. So just be aware there that Meta Planet is not backing down off of its treasury strategy. The oh, there's only three companies that I think are actual contenders for surviving this rush to be a Bitcoin treasury company. That is Strategy, Meta Planet, and similar scientific is at the bottom of my list. And they're at the bottom of my list because it is kind of a hail Mary for them, but they at least still have a revenue stream insofar as they make medical products, and they still sell medical products. They have revenue coming into that company.
Meta Planet and strategy, not so much. But they have massive stacks of Bitcoin. 18,000 Bitcoin is not strategy's 628,000 Bitcoin, but it's still a lot of Bitcoin. You can do you can do a lot of things with that Bitcoin, and this is is the next phase for Bitcoin treasury companies that are going to survive. They've got to figure out something to do. You can't just hold Bitcoin. You can't. You can't. I'm sorry. You can't. At one point or another, if you're a company, then your job is to do something. So what do I think strategy would do? I actually think strategy is just gonna turn into a financing bank.
I think they're gonna make loans. I think they're gonna make competitive loans. And I think what's going to happen, I started thinking about it yesterday, it would not surprise me because they have so much access to the larger capital markets. It would not surprise me if they literally loan out some of their big or not not loan out. They collateralize some of their Bitcoin to make fiat loans for themselves at, like, let's say, 3%. And then they take that loan and they make, like, home loans, like mortgage loans at five and a half percent, which is still competitive against something like Wells Fargo.
They'll take and they'll just basically take the premium off that as revenue. That's a viable model. They don't have to produce software. They don't have to make a widget, put it into a box, and ship it to Walmart. They their product could literally be home loans that are under the the average US mortgage rate. They could do that. That's not impossible. Now for Meta Planet, what would they do? They should probably get back into hotel management, honestly, except dude in The United States. I mean, they they they have the background in it. I mean, why not leverage your the Bitcoin that they that they own to make to make loans so that they can buy hotels and service those loans with good management practices?
I mean, at least there's something there. I mean, just be a just be better than the than the hotels. Have you been to, like, a Comfort Inn lately? It's honestly, at this point, it's literally staffed by two people at a time. It's disgusting. When I was a kid, when I went to a hotel, it was busy. I mean, there were people at the front desk. There were people in the lobby. There were like there, you know, maid staff up and down the halls. No. You go to a comfort in or a quality in or a Hampton Inn or something like that. It's a what? It's almost a one person show.
It's really sad where we've gotten to it. I would like to actually see Meta Planet bring back, you know, how much fun it used to be at a hotel when when it wasn't just a pile of garbage that you threw up and made sure that there was, you know, cans and cans and boxes and boxes of powdered eggs for your free freaking breakfast. I mean, but the point is, is that you got to do something. I mean, if you've got all this capital, why are how are you going to deploy it to in the hopes of gaining more capital? See, that's what capitalism is. You know, that that true capitalism is I I deploy capital, and it doesn't have to be money. It could be just time.
You know? Usually, it's combination. There's money. There's time. There's a couple of other things involved. You're leveraging your network. That's a capital. You leverage that in hopes of making more capital later on. But the way that these treasury companies are looking right now, it's like they're not doing anything but selling as much debt instrumentation as they can to get as much fiat as they can so they can convert it into a high quality asset like Bitcoin. But what comes next? See, that's what that's why I I I worry about this stuff is that they're not even talking about what comes next. There there's they it's almost as if they just stopped dead cold in their imagination, both at at strategy and at Meta Planet.
I expect that Michael Saylor, at one point or another, will actually start saying something about what he plans to do, how he plans to start making revenue outside of debt instrumentation sales. But until that day, I'm gonna continue to be a little bit wary about these Bitcoin treasury companies, and I sure as shit ain't gonna buy any of their stock. I'll 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.
Introduction and Episode Overview
Stake and Shake's Bitcoin Success
Tornado Cash Developments
Comfrey Owner's Manual Announcement
Privacy Tools and Legal Risks
