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Episode 1194 of Bitcoin And . . . is LIVE!

Topics for today:

• New Layer 2, Arkade In Beta
• BC Bans All New BTC Mining Power Contracts
• X's Auction House For Inactive Handles
• River Announces Supercharged Buys

Circle P:

Permanerd
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Today's Articles:

https://bitcoinmagazine.com/news/arkade-launches-as-bitcoin-layer-2

https://x.com/EleanorTerrett/status/1980642646268797004

https://cointelegraph.com/news/british-columbia-restrict-ai-power-use-ban-crypto-mining-connections

https://www.coindesk.com/policy/2025/10/20/senate-republicans-call-for-own-meeting-with-crypto-ceos-after-democrats-sitdown

https://www.theblock.co/post/375486/coinbase-buying-echo

https://atlas21.com/bitcoin-for-signal-the-campaign-to-integrate-btc-into-the-messaging-app/

https://cointelegraph.com/news/x-inactive-handle-marketplace-digital-identity-assets

https://bitcoinmagazine.com/business/early-riders-backs-aureo-with-1-1m-for-secure-bitcoin-custody-in-latin-america

https://river.com/content/supercharged-recurring-buys

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[00:00:02] David Bennett:

It is 08:50AM   Pacific Daylight Time. It is the October   2025.   This is episode eleven ninety four of Bitcoin, and I got a lot to go through.   We got a new layer too. It's been dropped. It is in   it it looks like it's just flat ass launched, so we'll get into that. And then,   what we've got the Federal Reserve,   one of the governors,   Chris Waller,   during a payments innovation conference,   said some stuff   that is actually kind of bullish for Bitcoin,   Canada is not.   We've got some mining ban going on up there.   Senate Republicans,   I guess, are kinda scared as to what the hell is going on with the Democrat senate,   or the Senate Democrats, and they're sitting down with 10 or 12 or   15   of the worst representatives   of   Bitcoin that you could possibly ever imagine.  

So they are having a sit down themselves.   We'll talk all about it. And then Coinbase   is buying an investment   platform. It may impact us.   Then   Bitcoin for signal. Now I'm a little late on this, but I wanna cover it anyway because I think it's important   to go through the nuances   of which there are nuances in this whole thing that went down   with signal and Bitcoin. I think it's gonna be important. And   inactive handles on x set to be auctioned.   That should be a lot of fun.   Odell   at Odell   is probably in that auction house, so it'll be interesting to see if somebody grabs the Odell handle.   Personally, I think this is a terrible idea, but,   you know, that's not like anybody's gonna listen to me.  

Let's see. What else do we got? We got a couple of things here. Oh oh oh, River   has made an announcement this morning that seems   kinda cool.   I'm not sure how effective it'll be, but, you know, maybe there's something that I'm missing, and we will find out together as we do every morning   just like this morning. And then we're gonna end off with, oh, I don't need that one. Never mind. I I will actually have been saying something twice if I if I look at that tab, so I'm going to delete it. Okay.   So I got a few   choice words to say   to Kirby Hochit   at Texas Tech University.  

Dude, how weak and spineless can you be? They sell knees   and spinal columns,   like, online.   You you you can go get, like, a Chinese donor. If you've lost your spine,   you can go get one.   They're either I'm serious. You can go get one, and you can go get a scrotum, and you can go get knees, and you I mean, you don't have to be this week.   This is the athletic director of Texas Tech University that I'm talking about right now.   The a complete ban   on throwing tortillas, which has been a tradition at Texas Tech for decades.   It doesn't   I mean, I know the arguments. I went to school there three times.  

Alright? I I don't need anybody telling me, oh, you're throwing food. Dude, they're freaking tortillas. They've got a flight   characteristic about them that is like a Frisbee. And when they hit somebody, they're flour.   They don't hurt. They   they don't, like, stab. They don't cut. They don't lacerate. They don't create avulsions in people. They they're just dude, it's it's one of the funniest things at a college football game to see a thousand tortillas fly at kickoff. Well, no more.   No. No. No. No. No. No. I even got Skuvinek   at Texas Tech who's the president, I   I guess. I used he used to be the chancellor, and now he's he's the president.  

And he's backing it.   And I feel really bad for head coach Joey McGuire, who's having to sit there and basically take it. I haven't seen a red headed step child get beaten this bad   since Texas Tech decided to completely   bend over coach Mike Leach and   just destroy   every chance that that school had at a national championship.   It set us back, like, ten years   minimum,   not fifteen full years.   Right? And now they're just saying, hey. You know, all this stuff that you love to do, you're not gonna be able to do that anymore. No. No. No. No. No. Even though it's a spectacle,   even though from a television standpoint, it's just one of the most awesome sights that you will ever see. No.  

No.   Now I guess we're gonna be able to, like like, flip a towel around in the stand.   Yay.   Yay. Like like   everybody else, like Pittsburgh, like Texas a and m University. It's just   it's   it's the end of an era, man.   I hate to see it happen. You know, I was really, you know, really proud of that school, but this is the second time   that they have literally broken my heart. First time was when they really destroyed coach Leach for no other reason   than the fact that he liked pirates.   That's that's my guess. He he was like there was a potential rebranding. There were people that were carrying pirate signs to games, and that's not the brand. That's not the brand. It's the it's the Red Raiders.   Come on,   dude. And now this,   where they've completely eviscerated   every amount of fun that you could possibly have   at a game, and it's just now it's just gonna be a bunch of students just sitting there.  

We'll see this Saturday because it will be a home game for tech whether or not the students decide to, you know, rebel,   and we'll see what happens. But, dude, I mean, the fact that no I mean, they didn't even send   a rebuttal letter to the big 12 commissioner saying this is wrong.   They they said nothing   at all. The entire administration of Texas Tech said nothing that this is wrong. This is BS.   This shouldn't be happening.   They just took it.   They just said, yes, sir, and laid down.   And it's embarrassing   as an alumni of Texas Tech University   to watch this happen. It's also embarrassing   to watch   billions of people around the world literally be told what they can and cannot do with their money. And the fact that the money that they do have is created by somebody   whose interests are not aligned   with the people that they print the money for.  

It's the same attitude. This is what I'm getting at this morning. It is the exact   same attitude.   Just roll over,   sit down,   shut up, yes, sir, how high   are   is this the human condition that you signed up for?   Probably not.   Probably looking for a little bit more spinal column, a little bit more ball sack,   a little stronger knees   so that you're not always bending at them. It's just ridiculous.   But let's get into the first story of the today,   Bitcoin's first major   layer two in nearly a decade goes live   with Arcade.   Micah Zimmerman from Bitcoin Magazine starts us off. Bitcoin may be the world's   most secure digital asset, but for years, its base layer has limited the kinds of financial applications developers could build on it.  

Well,   that changes today with the launch of RK. That's a   r k a d e,   the first significant Bitcoin layer two solution since the Lightning Network nearly a decade   ago. Developed by Arc Labs, the protocol enters public beta with a bold mission   to turn Bitcoin into a programmable   financial platform without compromising the security that has made it digital gold according to a note shared with Bitcoin Magazine.   Arcade   builds on the ARC protocol,   which was first introduced two years ago,   which promised a new way to scale Bitcoin while unlocking new applications.   The launch also introduces   ArcadeAssets,   a native multi asset framework designed to bring stablecoins   and, god forbid, other tokens to Bitcoin's execution layer, including planned support for Tether, USDT,   And for an ecosystem long dominated by Ethereum and other chains when it comes to decentralized finance,   it's a notable step toward putting advanced financial tools back on Bitcoin.  

Pausing to   say   there never really has ever been advanced financial tools   on Bitcoin like tokenized assets. I mean, yeah, kinda, but   are these the droids you're looking for?   These are certainly not the droids I'm looking for, but, quote,   the Bitcoin l two landscape has been full of promises, but light on shipping,   said Marco Agentiri,   CEO of Arc Labs. Quote, today's   release marks the beginning   of Bitcoin's evolution   as programmable money. It's starting to sound a little bit like suitspeak, but okay.   While Lightning offered off chain payments, other financial applications like lending, trading, or structured derivatives,   they required workarounds   such as wrapped tokens or custodial   platforms.  

Arcade   attempts to take a different approach.   Instead of altering Bitcoin's consensus rules or creating separate chains,   it virtualizes   Bitcoin's UTXO   based transaction system,   preserving its security   while enabling new capabilities.   Developers can now build sophisticated financial applications directly on Bitcoin, lending protocols,   trading platforms,   smart wallets, and, oh, my favorite,   yield products,   all without relying on bridges or compromising user control.   Pausing to say always ask the question,   where does the yield come from   whenever you see something, say, it's got a yield on it. Just where does it come from? It's not It's an easy question, and the answers will tell you more than you think, if you get answers, that is. User assets remain secured by pre signed transactions,   meaning funds can always be reclaimed on chain if needed.  

Arcade's technical innovations include virtual transaction   outputs,   VTXOs   for instant off chain execution,   batch settlement to compress thousands of operations into one single Bitcoin transaction, that's good, and integration with the Lightning Network, also good, through Bolts   to facilitate liquidity swaps.   Initial launch partners include Breeze,   BlueWallet,   BTCPay   Server,   and exchanges like Bull Bitcoin   and Layer z Wallet, which are the builders of the BlueWallet,   according to the note.   For the Bitcoin community, the launch signals more than just another protocol. It represents a turning point in the narrative around Bitcoin as money versus Bitcoin as programmable infrastructure.   Stablecoins, which have largely migrated to Ethereum and other chains, may find a secure home on Bitcoin.  

For users, this could mean safer, more efficient ways to manage digital assets and,   access financial services without leaving the Bitcoin ecosystem,   quote,   arcade isn't just a product launch.   It's the foundation for the next decade of Bitcoin development, said Alex Bergeron,   ArcLab   ecosystem   lead,   quote, every major financial application needs a programmable foundation,   and that's what we're building,   end quote, and end of article.   So what to say about this? Well, I'm not I'm not   all enthused about   digital tokenization   on   on Bitcoin   through a layer two.  

Am am I gonna stop it? No.   But I'm I don't have to be excited about it. I I don't have to, like, go, oh, boy. Oh oh oh, golly. Oh, gee. And yield products,   if you've listened to this show long enough, you you kinda know my stance on that.   I don't have anything inherently,   you know, I don't inherently hate yield just because it's yield. I'm I'm not, like,   accessing the, you know, the biblical Old Testament about usury and shit. That's that's that's not what I'm saying. I'm saying that most yield products   do   not really make it explicit   where that   yield   comes from. And I've seen many, many people   get burned   alive   down to ash   because they never really   investigated   the company that was offering them a yield product, which they put their money into.  

This is the problem that I have because yield   is can be used as a word   by two different kinds of parties.   People that actually have yield, and they can tell you where that yield comes from. Like, they make loans and they take interest on those loans, and you get a part of that interest. And that's the yield when you allow your Bitcoin to be used by this company to make loans, and they make good loans. This would be somebody like Unchained, but I'm pretty sure that Unchained doesn't   have a yield product. They just make loans, and then they take interest on that loans, and that's how they fund themselves. And that's fine. But if they were to offer some kind of product where, hey, anybody can, you know, put Bitcoin into Unchained,   and we'll give you some yield. At least I know where the yield comes from. But then there's the second kind of party.  

Just straight up scammers.   Oh, you're gonna get 10.76%,   yield on this. We can't really tell you exactly where the yield comes from, but you'll get 10%.   Not not excited about this.   The other thing that I wanna say about ARC is that when ARC was first announced about two years ago, which, by the way, let's let's   back up just a sec.   When the white paper for Lightning Network dropped,   it was almost exactly   two years   before Lightning Labs dropped   Lightning Network as a test. And here we are   about two years after ARC dropped their white paper for light or not Lightning Labs, but but for for ARC.   The ARC Labs guys just did the white paper for ARC.  

It's now two years,   and it looks like we're getting a beta test of it. And I do look, there's no place in this in this article that I saw where I can go, you know, play with it myself. I'm sure that's probably coming here pretty soon. But   one thing that it should be noted about ARC is that when it was first announced,   mostly, it was centered on being able to provide a Lightning Network like   experience   for people that really weren't all that technical and didn't want to open channels so that they could get liquidity because   a lot of people don't know what liquidity is,   much less incoming liquidity versus out outgoing liquidity.  

And if you're a Lightning network operator, you kinda know this. Otherwise, you're just running a Lightning node and you don't have any open channels and you're not really using it, which is okay. But   if you're gonna use Lightning, you gotta have channels open. And you've gotta, like, have incoming liquidity and you've gotta have outgoing liquidity.   And that management, it's it's it's not like it's a nightmare. I mean, I I don't normally manage my stuff, but I did have to make a lot of connections. I did have to open channels with a lot of people. I've got a lot you know, there's a was a quite a bit of, you know, Bitcoin tied up in my lightning note at this point, and I use it every single day.   But there's technical stuff that goes behind it, and ARC was kinda designed   to alleviate that situation so that new users didn't have to worry about that crap. But now all of a sudden, I got stable coins. I got digital assets. I got freaking yield products, I got exchanges,   and this kinda concerns me.  

I   I I hate seeing them bite, like, try to just get the the whole enchilada all at once.   It eating an entire enchilada all at once can be messy. So   I I'm watching this.   I'm excited that Arc is releasing,   but we shouldn't just sit there and go, oh, it's gonna be fine. No. We should still remain adversarial   as we always   have   as Bitcoiners.   Okay. On to this tweet from a woman named Eleanor   Terrett,   who is a journalist and host of at Crypto America,   and she was formerly with Fox Business.   I'm gonna give her a break and just go ahead and and take what she says   just as as as it happened. Right? So she says on this tweet,   big news.  

Good news, everybody.   Out of the Federal Reserve Payments Innovation Conference this morning,   governor Chris Waller announced the central bank is proposing a new type of limited limited access master account   or what he calls   a skinny master account   for all   legally eligible institutions   to receive direct access to the Fed's payment rails so they don't have to rely on partner banks.   With this setup, they wouldn't access all of the service of a full master account,   like the ability to borrow from the Fed.   Importantly, even legally eligible entities could get one, and the legal rules for eligibility wouldn't change. Essentially,   this new master account   or master account lite   would allow the Fed to green light innovative banks, including fintechs,   stablecoin   issuers, here it comes, and other payment companies.  

Now this is a big deal for companies like Custodia   Bank and KrakenFX,   which have spent years   trying to get a Fed master account with Custodia even taking the Fed to court.   It could also speed access for companies like, God forbid, Ripple and Anchorage, which applied this year.   So one of the other things that Chris Waller said   this morning   was that the Federal Reserve is embracing   the digital asset ecosystem. You know? So this is one of the first times that a Fed governor   has just stepped up to a mic and said, we're we're   we're doing this.  

This master account light   is the way that they're going to do this.   So Custodia Bank is a Wyoming bank. This is   I can't remember her name off the top of my head right now, but Custodia Bank was   or is a Wyoming bank that seeks to just hold   100   it's either 105   or 110%   worth of deposits for the deposits on the book. So let's say they had a $100,000,000 in assets under management. They would have to have a $110,000,000   to back that up in case of a bank run.   Custodia Bank is the only bank that wants to do it. They've been denied a master account from the Fed year after year after year after year,   and our thesis as Bitcoiners has always been,   the banks don't want to compete with somebody who can literally deliver 100%   and more   of depositors'   deposits   in a single twenty four hour period   because they literally have   10% more money than they need to do it with.  

This looks like that the Fed   is going to extend an olive branch to banks like Custodia   And, of course, like they said, Kraken FX, which I'm not as much as excited about, but   at least Custodia   might have   the chance here   to   become what it is they've been wanting to become forever and ever. So, honestly,   it's kinda good news.   As always, remain skeptical, but, you know, hey. Take it for what it's worth. It's still good news. Brian Quarby next   from Cointelegraph.   Canadian province   to ban new crypto mining   connections.   Yay.  

The government of British Columbia is banning   new crypto mining connections to the hydropower   grid,   citing   unprecedented   electricity demand.   In a statement on Monday, the BC government   announced a new set of legislations   aimed at stimulating the economy   and helping the state owned electric utility BC Hydro act,   excuse me, address its power availability,   quote,   there are significant opportunities in British Columbia's traditional natural resource sectors, including mining, natural gas, and liquid natural gas,   and in emerging sectors such as data centers and artificial intelligence.  

The success of proposed major projects   hinges on the access to reliable clean electricity at competitive industrial rates, end quote.   As part   of the regulatory changes that will go into effect fall twenty twenty five, that's, like, right now,   there will be limits on the power on the power available for data centers and AI,   as well as   a permanent ban on new BC hydro connections   to the electricity   grid.   Wait. What? Oh, for crypto miners. Okay. Sorry. I I boffed that sentence.   As there's gonna be a complete ban   on permanent   a permanent ban on new BC hydro connections to the electricity grid for crypto miners.  

So   no mining. No new mining.   Quote, we're   seeing unprecedented demand from traditional and emerging industries.   The province's strategy empowers BC Hydro to manage this growth responsibly, keeping our grid reliable   and our energy future clean and affordable.   BC Hydro is the main power supplier in the region.   More than 5,000,000   people served, which is around 95   of the local population.   The BC government took a more positive outlook for data centers and AI   than crypto mining, though, with the announcement explaining that it is looking to help these two emerging sectors grow in a manner that results in the greatest benefit to people in British Columbia.   It's favoritism.  

It's that's all that is, is favoritism.   AI uses way more electricity than   than Bitcoin network does, and we're talking worldwide here. Way more.   Like orders of magnitude, more electricity for AI than Bitcoin could have ever hoped. And   who gets the ax?   Right.   Why do you think that is?   I'm gonna let you chew on that one while we get to this next one about the senate Republicans.   This is out of CoinDesk.   It is written by   Jesse Hamilton.   Senate Republicans   call for their own meeting with crypto CEOs   after Democrats   sit down.  

Though the US government remains shut down, the senate is a hive of crypto activity this week.   Just reminded of Star Wars, you will never find a more wretched hive of scum and villainy, and it applies right here, by the way,   with Republican lawmakers now matching a planned Democrat meeting with industry leaders set for Wednesday.   After CEOs such as Coinbase's Brian Armstrong and Chainlink's   Sergey   Nazarov   meet with as many as 10 Democratic senators according to people familiar with the plans,   they'll jump to a similar meeting   with those lawmakers'   Republican counterparts.  

So they're gonna spread misinformation   on both sides of the aisle. Yay. The chief topic of conversation is the crypto industry's top policy priority,   the legislation   that would establish US regulation for the broader crypto sector.   The bill known in the already approved house of representatives version of the Digital Asset Market Clarity Act   had been advancing   through the usual process in the senate where legislative efforts generally have to lean into bipartisanship   to clear the 60 vote threshold.   Republicans on the senate banking committee produced a working draft, but congress then got mired in a budget dispute and, well, the government's all shut down now.   Possibly more importantly,   a document showing suggested   democratic language on decentralized finance   leaked,   causing an uproar from industry insiders who cast it as a potential deal breaker in the negotiations.  

So   the senate Democrats and leaders from the industry set up a Wednesday meeting to hash things out. I see what you did there. And now Republicans will hear from them too.   In that second meeting,   the industry's GOP allies will likely get an indication of which points the CEOs were told by Democrats   that they're encouraging movement on.   Industry leaders involved in these meetings are said to include the heads of Kraken, Uniswap, Galaxy Digital, Solana Policy Institute,   and senior executives from Circle,   a sixteen z,   and Jito.  

A prevailing sentiment   from many crypto lobbyists is that it would be difficult to get the market structure bill back on track this year, and next year's midterm elections could make any serious policy efforts difficult.   Without this legislation   becoming law, the sector is left only halfway to enacting its policy aims in The US,   having celebrated a first major success with a new law to regulate stablecoin issuers.   So   Republicans want a meeting too,   and they're gonna be talking to the, probably, the exact   same crew of miscreants   that the Democrats   have asked to talk to them.  

This is not good news   because this is just this is gonna be Brian Armstrong   and the rest of these morons   telling   Republicans and Democrats   about altcoins,   shitcoins,   ICOs,   yield products,   god only knows what else, but not actually getting to the meat of why this entire industry exists in the first place, Bitcoin.   Guarantee they're not gonna talk about it. But you know who wants it?   Perma Nerd. Perma Nerd wants your sats, and you can go to sats4snacks.com   and pick you up some dehydrated peaches. He's got dehydrated   organic mango.  

He's got dehydrated   bananas. And I think he's got some dehydrated apples.   And something a couple of other things are coming out. And and   and this is the guy that gave me the comfrey   salve, which he calls proof   of healing.   It's made with comfrey. You put it on your hands where you got scratches and small cuts and abrasions, bruises, contusions, you know, all that kind of stuff. Not deep wounds,   but light surface wounds like bee stings and shit like that,   it really helps heal. And it's because of the comfrey.   If you've listened to the show for any length of time, you've heard me talk about comfrey before. It is a magic plant that anyone can grow. But if you don't have any,   you're not getting the healing properties of comfrey, but you can get it for Bitcoin   from satsforsnacks.com.  

That's sats, the number four,   snacks.com.   Satsforsnacks   written all, you know, no spaces, no nothing, satsforsnacks.com,   you get a 2.1%   discount if you mention Bitcoin and   now   there was like last week, there was a problem.   Perma Nerd was unable to ship out of   the European Union.   And some people in America or in The United States ordered some of his stuff, and there was a real problem.   I've been told by Perma Nerd that that issue has been resolved.   Alright? So you're going to buy this stuff for Bitcoin, and you're gonna get 2.1%   off if you use code Bitcoin and at Sats for snacks.  

Give this guy a try, man. I mean, I my my daughter   munched through all the banana, like, within a day. It was like I I went back to the bag, and it's, like, sitting there, this empty   silver husk   sitting on the on the on the table. And I'm like, I I got, like, four four banana chips.   Luckily   luckily,   she didn't see the apples, so I was able to munch fully and freely on the apple snacks. The Perma Nerd   makes this it's all freeze dried, so it's   this is a wonderful snack. It's like it's not heavy. You can take it in your packs when you're backpacking.   It it really does kinda hit the spot, and   he takes Satoshis for it. And not only do you get 2% off or 2.1%   off when you use Bitcoin and you're also letting Perma Nerd know   that you heard about it here on the Bitcoin and podcast in the circle p. It's where I   showcase plebs just like you that have things for sale   to plebs just like you who might want to buy them.  

Now   before we hit the numbers, Coinbase is buying crypto investment platform, Echo,   for $375,000,000,   which actually nowadays doesn't seem like a whole lot of money.   Right?   Because we've destroyed the money and money destroys everything it touches.   Danny Park from The Block.   Coinbase Global has struck a deal to acquire Echo, an on chain private investment platform   for 375,000,000.   The WSJ report said Coinbase is using a combination of cash and stock to fund the acquisition.   Quote, I certainly didn't think Echo would be sold to Coinbase, but here we are. Today, Coinbase bought Echo for $375,000,000,   Kobe wrote.  

The Echo founder said it will remain a standalone platform under its current brand for now, but plans to integrate Echo's   public token sale product,   Sonar into Coinbase.   So what's really going on here   is that Coinbase   bought Echo   to basically get a hold of its public token sale product,   Sonar.   So they're gonna be able this is part of the digital or the asset digitization   trend, and it is a trend.   It's not that the trend will end.   It will end for some people in tears and and fetal positions. But other than that, it it's we're gonna end up with   Chevron on the blockchain at one point or another.  

Some people will do okay because they'll understand it. Other people are not going to do okay.   This is the further in shitification   of what's left of the legacy financial system as they try to compete with Bitcoin.   It's not gonna work. Let's run the numbers.   CNBC   Futures and Commodities,   Brent, North Sea Oil up   point 59%   to $61.37   a barrel. West Texas Intermediate crude is up point 8% to $58.   Woo hoo.   Natural gas is up a point, you know, bucking the trend I talked about yesterday,   to $3.43   per thousand. Gasoline is down a third to a buck 82 a gallon, and Murbaughn crude,   everybody's favorite light sweet crude is up point 4%   to $63.25   a barrel.  

I wish I had my little soundboard and I would play funeral music for this next piece.   Your   metal rocks are being pummeled.   It's it's actually kinda awful. Gold is down almost five full percent.   It lost $211.   Back down to $41.46   dollars you go. Platinum down 6.6.   Silver down 6.59%.   Copper   down 1.13%,   and palladium down point or not not point,   6.2%.   A veritable   bloodbath in the metal markets today.   What I'm seeing on   Twitter and not so much on Nostra because there's, you know, Nostra isn't anywhere close to as negative   as,   Twitter is. Twitter's a full blown hate machine. Nostra is where you go to clear your head. But at least on Twitter,   what I'm seeing   is a bunch of people dancing   on the grave of Peter Schiff and all the gold bugs that have been dancing on our grave for the past   couple, you know, past, what, two weeks, maybe three, something like that. But more more,   definitely more over the last week.  

Don't do that.   That's that's a, poor sportsmanship.   B,   of course, there was gonna be a blow off top for medals. You you don't get those kind of gains.   I've I mean, I'm sorry, but at this point, I'm seasoned. I've seen this all before.   Does it does this literally mean that that that the, rise in gold and other precious metals is over? I don't believe so.   Yeah. This is, again, not investment advice.   How low will it go? I don't know.   I I I expect it to start going back up sometime, like, later on this afternoon, but   will it go back I don't will it get back to its all time high that it posted yesterday?  

Probably not in a couple of days, but,   you know, I I I wouldn't I wouldn't sit there in on Twitter   and dance on these people's graves. At one point or another,   we're gonna have to figure out a way to become friends.   With the gold bugs and and the Bitcoin people are gonna figure out a way to recognize that they're literally standing   on the exact same ground.   We all we we all want the same thing.   And picking on each other isn't helping very much.   Ag is fully mixed today. The biggest winner is   coffee, 1.6%   to the upside. Biggest loser is sugar, two and a half to the downside.   Live cattle is not affected.  

They it is still going up in price. It is now   up point 77%   to two forty five fifty two.   Lean hogs up point 8%. Feeder cattle up point four.   And in the legacy   equity markets,   pretty much sideways,   S and P is up point one four. Nasdaq is up point zero seven. Dow is up point six. That's actually decent.   And the S and P Mini is up point five, also rather decent.   And we're looking at a $113,860   on Bitcoin, which is a $2,270,000,000,000   market cap. And we can now get 27.6   ounces of shiny metal rocks with our one Bitcoin of which there are 19,937,685.5   of average fees per block or low 0.02   BTC,   taken in fees on a per block basis. And it's as if nothing has happened to Bitcoin today. There's 19 blocks   carrying 36,000   unconfirmed transactions   waiting to clear at high priority rates of three sats per v byte. Low priorities get you in at one, and the hash rate is chilling out   1.12   zeta hashes per second.  

So mining   also seems to be rather unaffected   or unaffected.   So, yes, we I this morning, I woke up at a 108,000   dipping past, you know, a 107   well, dipping past a 108 down to, like, the I think a $107.08   60,   and now we're at 13,860.   And this is what's causing Bitcoiners to dance all over   gold's grave.   I have a theory, but I have nothing to back it up that what we're seeing   is people that are both into gold and into Bitcoin   rotating.   Rotating out of Bitcoin into gold, you get the gold price spike, you you rotate out of gold, you go back into Bitcoin,   and rinse and repeat until this particular gold versus Bitcoin trade   comes to its logical conclusion where it just kinda peters out. When would that be if I'm correct? I have no idea.  

I'm not even gonna conjecture.   That's what it looks like. Again, no evidence whatsoever.   I don't chart. I'm not drawing lines.   I don't have you know, I don't do that.   But that's sort of what it seems   to be that's sort of what seems to be happening.   We'll find out if it's true or not. It's not all that important.   But it is important for you to keep   your sportsmanship.   Keep your sportsmanship   intact.   Stop dancing on on on the the the heavy metal guys. Alright?   They want what we want, and we want what they want.   All this entire group is tired   of seeing fiat currency   literally destroy humanity   bit by bit,   piece by piece. From Psyduck.  

740   no. 754   sats from Bitcoin in a bull shop, which was yesterday's episode of Bitcoin and says   Syduck.   Tulips with 300 says tulips.   In my favorite shithole country,   the level of automation a company can have is negotiated with the state.   In in my fiat job, the use of AI is forbidden,   even the safe kind,   and any other form of performance enhancer at any level is regulated out of existence   and made taboo.   It comes as no surprise   that Binance is doing just the same.   New York legislating it away and the whole world complaining   that it is not fair and we should tax it.  

At 1,000,000   BTC, we are next. Make no mistakes about it. It is then when we find out that Bitcoin is just tulips   and it is going to zero.   Love you tulips.   BTC onboard with a 100 gives me a whole bunch of emojis I can't read because, yes, my operating system is that old.   Cas Pielen with 500 says boost.   That's the weather report.   Welcome to part two of the news that you can use Bitcoin for signal.   It's a campaign   to integrate BTC   into the messaging app.   So for anybody who thought that Bitcoin or signal integrated Bitcoin,   they have   not.  

Everything that you've seen about that is not that it's false. It's that it's more of a campaign to get signal to do that   rather than Bitcoin actually being integrated into signal.   Let's be very clear and not fool ourselves. Okay?   By the way, this is from Atlas twenty one.   Several Bitcoiners along with Jack Jack Dorsey are pushing for the messaging app signal   to adopt Bitcoin payments.   According to the initiative's promoters, this integration would align with the platform's privacy focused mission and could help it achieve financial independence.   Yeah. Yeah.  

The campaign called   Bitcoin for signal   proposes integrating the asset through the Cashew protocol and its Chomian eCash system.   Developer, Cali,   shared the campaign on x receiving public support from Dorsey   who commented   at signal app should use Bitcoin. That's what exactly what Jack said.   The goal of the initiative is to allow signal users who already rely on the platform daily   to protect their conversations from surveillance and data collection   to send and receive money privately and securely.   Supporters argue that integrating Bitcoin would enable instant global transfers without the need for banks, intermediaries,   or extra apps.  

The campaign website reads, Bitcoin belongs in signal.   Cash u e cash enables truly private BTC payments inside the world's most trusted encryption messenger.   Supporters also highlight   that Bitcoin could help the service achieve financial independence   as Signal currently relies on donations and external funding.   With Bitcoin payments on Signal,   users could send small donations or tips directly within the app to help keep signal free and open source.   Other prominent figures in the community have also voiced their support, including developer   Peter Todd   and Satoshi Labs cofounder   Pavel Rusnick.  

Peter Todd also criticized   Signal's current payment option,   MobileCoin,   stating, quote,   I've been wanting to try MobileCoin,   but it's such a failure I can't even buy any.   Signal app needs to accept reality   and just add Bitcoin support, end quote.   The encrypted messaging service tested mobile coin in April   2021   to explore the possibility of private transfers through the app.   Over time, however, users and experts have identified   multiple issues with that system.   Critics also point out that MobileCoin is hard to buy   or use in most countries as it's not available on many exchanges.  

The app currently has around 70,000,000   monthly active users.   Analysts believe that even a small percentage of them   started or if a small percentage of them started sending Bitcoin through the app,   Signal could become one of the largest platforms for private   peer to peer transactions.   Yeah. That's true. But we also have Nostr, so there's   that. But it clearly, Nostr isn't anywhere close to as private as Signal is. That's not that's not what Nostr is for.   However,   it should be noted that Signal, along with a whole bunch of other stuff that went down with,   Amazon East one   also went down,   which is not a good look because it's I mean, I don't know if Signal said yes. We actually use   AWS   for some of our some of our back end.  

I haven't seen them say that, but it it's awfully suggestive that they do.   And that's not good because   that means that data is running through Amazon.   However, signal is fully encrypted.   So unless   unless that encryption is really weak,   then Amazon   literally has no idea what the hell is going on in in a signal chat, but still,   it's a little bothersome, if not   flat out worrisome.   But   a lot of people were posting some videos that showed a mock up either it was either a mock up or it was a   fork of signal,   shuttling around,   cash you payments.  

And some other people said, look, Bitcoin's on on on signal. No. No. It's not.   The only way Bitcoin gets on signal is if we're loud enough   to get Bitcoin on signal.   That mock up or rather that which I actually think it was a full fork   of signal   with an actual live cashew   transfers going on inside.   It demonstrates to me that this is already possible. We already know how to do it. All it needs to be done is actually be implemented on signal, but they're not going to do it   unless people are loud and proud about it. So   you might wanna   you might wanna start voicing the fact that you want Bitcoin on on single with Cashing.  

Alright. Moving on to Sam Borgie writing for Cointelegraph.   X launches market for inactive handles amid push to monetize   digital identity.   Again, people, noster. If you haven't   figured it out,   I know that it's a little bit of a it's a little bit of a lift   for people that aren't used to   the way decentralized   things work. Yeah. You you're responsible for generating your own private public key pair.   You're responsible for keeping those safe. You're responsible for learning how to   log in to Nostra apps. I I I get it. It's not for everybody.   It needs to be.  

But that needs to be   both the developers of on Nostra clients as well as users seeking to get away from centralized applications like Instagram and Twitter, at least having a name space and something that can never go down.   It's both   parties' responsibility   to meet each other where they're at.   Developers   need to really look at how people think about what the hell a private public key pair is and how are they used. And the public   needs to think about stretching their legs a little bit. Right? It can't just be one group.   Somehow or another, we we gotta figure out a way to meet in the middle.  

But this story   is one of the reasons why you want to be in control   of your private identity, your private key, your digital identity, whatever whatever the hell you wanna call it. Because now   at Odell   is potentially gonna be sold.   Do you have any idea?   I mean and and I don't know how Matt Odell, which was which is still one of the largest names in Bitcoin, whether whether you like him or not, I per I I like Matt. I I I met him at bit at at BitBlock Boom   one year. Really nice guy.   Very accessible dude. You know?   Very bright and shiny and bouncy, and and I really like the guy.  

I have no idea how he left his Twitter.   Did he delete all of his followers first? Is there I don't even know if there's a way to I I I mean, I don't know if there's a way to do that en masse.   Did, you know, did he delete all the people that he followed   in mass? Because that would he probably followed quite a bit of people. That's that's a lot of, like, clicking four or five times   to, like, block a follower or force force them to unfollow you. I can't remember exactly how Twitter work. So   let's say it this way.   If   if Odell   just simply said,   download my archive,   and he gets his archive, and then he just shuts his Twitter down,   but all of his followers are intact if you were to ever reactivate that account, and all the people that he follows   are are still attached to his account if that account gets reactivated.  

Then we got a major problem.   If somebody decides to buy that handle, and somebody probably will,   Somebody probably will.   It's it's,   like I said, like, you know, love them or hate them,   at Odell on Twitter is a valuable property. It cannot be denied.   If he was able to completely delete all of his followers and all the people that he followed and everything else associated with that account, and then it gets sold, well, that's another deal, but it's still bad.   Right? So let let's get into this one from Cointelegraph.   Social media platform x   is rolling out a new   handles   marketplace,   allowing users to bid on inactive usernames,   a move that could reshape how digital identity and online branding are valued.  

Currently, in beta, the marketplace lets users join a wait list of upcoming handle drop events,   request handles through their premium subscriptions,   and browse ineligible   active or rather ineligible inactive accounts.   And the company described it as, quote, a solution to redistribute   handles   that are no longer in use,   available only   to paying subscribers.   According to TechCrunch,   rare handles could sell for anywhere from 2,500   to well over a million dollars depending on their popularity,   character   length, and cultural relevance.   Premium Plus subscribers can submit free requests for priority handles, while others may purchase, quote, rare handles   directly.  

The   initiative comes as x continues to seek new revenue streams beyond advertising. It also taps into the growing market for web three assets   where digital identifiers like domain names   or short usernames   are treated as forms of online real estate with real market value.   According to industry trackers, x has an estimated 557,000,000   active users   as of early twenty twenty five, though the company hasn't disclosed how many inactive accounts exist or how many handles could be made available through that marketplace.   Still, the launch highlights a broader shift in how social media identity is being monetized   with usernames themselves now emerging as status symbols and potential   investment   assets,   pausing to rip my hair out and scream into a freaking pillow.  

It's just watching humanity   fall from grace like this. This must   I wonder if God cried when Lucifer fell.   I mean, is it a little bit hyperbolic? You know what? No. It's not. That analogy   actually works. It   oh, but god. I can't believe you're comparing Twitter. Yeah. I know where you're going with that.   I'm not looking at the fact that it's Twitter handles. I'm looking at the fall of humanity because we think that Twitter handles are that valuable that their investment properties.   Are you serious?   Just no. I'm surprised that we've survived this long.   You know, we we had a good run, ladies and gentlemen, but humanity, you know, seems to be   just   a fart in a breeze at this point.  

There's no real substance left.   You know? We don't we don't build cathedrals anymore.   We don't really do anything spectacular anymore except, you know, kill immense amounts of people through various means, whether   misinformation through generalized media or just straight up war.   So, again, I ask the question,   did God cry when Lucifer fell from grace?   Because he was. Lucifer was the favorite angel.   He was. He was an angel. You say fallen angel. That's that's where Lucifer comes from. The devil, as so many people also name Lucifer,   was, in fact,   God's favorite angel   and fell.  

And I guess Gabriel took up the took up the mantle as as favorite angel. I I'm I'm not sure, but, yeah, that's the story of Lucifer.   Is Lucifer and this may this may have been Milton one of you know, when Milton wrote Paradise Lost, this may have been   one of the themes that he was working with. Does Lucifer represent humanity?   Did we all fall down when Lucifer fell? And I'm not suggesting that we're all the devil. I'm just saying   we also   were the apple of God's eye, and yet we're buying Twitter handles as investment fucking properties.   Are   you serious?  

It was bad enough buying paper from Texaco.   It was bad enough for thinking Enron was a good buy.   Right?   How   much longer do we have to endure this embarrassment?   When do we start building cathedrals   again? That's my question. I'm sorry for the rant, but whatever.   Amid the ongoing debate over digital identity, blockchain based naming systems are emerging as a popular use case.   Decentralized   domain services such as Ethereum name service and Unstoppable   Domains allow users   to register human readable names that link directly to their crypto wallets, replacing long and complex   wallet addresses   with simple identifiers.  

These systems give users a stronger sense of ownership   over their online   identities,   an idea that mirrors the push for digital self sovereignty across web three.   While x's new handle marketplace   doesn't take a decentralized approach,   It relies on similar themes of digital identity as an asset.   The platform has long been a hub for the crypto and blockchain community,   making x a natural   intersection   between traditional social media   and emerging web three identity trends. Oh, we're trending, baby.   As Cointelegraph   recently reported,   x also served as a platform for activist investors, including one who use the site to advocate for an overhaul of Polygon's tokenomics,   a proposal that you ultimately   receive favorable feedback from the community. I don't even know why the hell that's in there. That's they end they literally end   the article with this.  

I   now more than ever,   for those of you who are listening,   maybe you maybe you said, okay, David. I'm I'm tired of you yapping in my ear about an Oster. I'll try it.   And then literally just got hung up with what the hell do I do with my with my private key. I get it.   I I really do. I I get it.   I need you to try.   I need you to try again,   and I need you to try a third time.   We've gotten very, very used   to things being easy.   I mean,   every you know, a lot of this started with   with IKEA furniture.   It's shitty furniture,   but almost any idiot can actually build it out of the box giving given, like, a single folded page of instructions.  

Everything has been easy.   Back in my day,   when you got a bicycle   for Christmas,   your your you were guaranteed that your father and your mother   had to   probably drain a bottle of wine Christmas Eve setting that song bitch up   because it didn't come.   It they were they're like, you if you bought that thing in a box, it didn't really come assembled.   And so that's where the whole thing, some assembly required. That's what Nostra is. It is some assembly   required.   You have to work at it, but what do you get   on the other side of that?   You get a digital identity   that can only be put up to auction   by   you. You can you can, like like, if you have a a Twitter identity and you get hit by a car and you're in a coma   for thirty five years,   there is no guarantee   nor expectation   that your inactive Twitter handle won't be sold off to the highest bidder if you happen to have gone into a coma with 53,000,000   followers.  

That cannot happen with Nostr.   Can your keys be stolen?   Yeah. If you leave them on a desk and, I don't know, accidentally take a picture of it with your phone and then post it to freaking Nostr in Twitter, and it's clearly a full scale private key, somebody is going to steal the key. You can't be done with it, but   it's not gonna just get stolen when it when it's online, and it sure as shit isn't gonna get auctioned off   because that's not the way Nostra works. Again, Nostra,   because it's some assembly required,   has a whole lot of safeguards   that   guards against this very thing from happening.  

Now   people like Matt O'Dell,   he he you know, what here's what I fully expect from Matt O'Dell.   He's gonna pick up his Twitter account again.   He'll he'll pick it up again just to make sure that at O'Dell   doesn't get sold to somebody   because he's because I I think and and he would be doing it   really out of a out of a kindness to make sure that nobody gets that name   to scam people with because that's exactly why you would want at   Odell   if you are not Matt Odell.   Or you may be a good person with a lot of money and buy that buy that at   and make sure that it's locked away and nobody can ever use it because you know   what I said   is true. That somebody else in in with nefarious purposes would use it for nefarious purposes.  

But I'll bet you my hat   that you see Matt O'Dell   reactivate   at O'Dell on Twitter   and just not either just not use it or use it very lightly   just to keep it out of the hands of   the handle   auction house. This is ridiculous.   I'm pretty sure that God cried when Lucifer fell. Alright.   Let's get into it.   Oh, still chilling out at a 113,550.   Some staying power, at least. Alright. It's from Bitcoin Magazine's   Juan Gault.   Early riders back Oreo.   I think it's how you pronounce it. Oreo. Let's say Oreo, a u r e o. Early riders backs Ario with $1,100,000   for secure Bitcoin custody   in Latin America. We're running down south, gonna have some margaritas.  

REO,   formerly known as   Swappido,   has raised 1,100,000.0   in pre seed funding from early riders to develop a specialized Bitcoin platform targeting high net worth individuals,   family   offices, and companies in Mexico   and Greater Latin America.   The funding announced on 10/20/2025   will support the creation of a white glove service focused on secure Bitcoin transactions,   custody,   and advisory for institutional and long term holders.   REO   positions itself alongside US based firms like OnRamp and River,   adapting similar models to regional needs.   Launched as Swappido   on 10/11/2024   by CEO Gustavo Flores Estes,   the company initially operated as a web app facilitating   lightning network to peso conversions.  

In its first year, it processed over 5 BTC in volume for hundreds of advanced users serving as Mexico's simplest   off ramp   for spending Bitcoin.   So there you go.   This is   anything in Latin America that has something to do with Bitcoin is good.   So I applaud these people. Now last up for the day,   introducing   supercharged   recurring buys from your friends   at River.   No. They're not they're not a sponsor, but they did announce this today, and it looks kind of interesting.   This is out of river.com.   It's from their from their blog.   On river,   you can now   supercharge   your recurring Bitcoin buys.  

Supercharge recurring buys double during dips   automatically   and   with zero fees.   Recurring buys are a proven way to build wealth with Bitcoin.   By investing a set amount on a regular schedule,   you smooth out price swings and grow your stack consistently over time. Bitcoiners have used this strategy for years to achieve their financial goals. But   as Bitcoin investors,   we want the best of both worlds   to invest consistently   and to buy more   when the price drops.   This was impossible to do automatically until   now   with supercharged   recurring buys.  

If the price is dipping   at the time of your order,   it can now automatically   supercharge   up to 100%.   While most people fear volatility,   Bitcoiners see an opportunity   to own more of the world's scarcest   asset.   Zero fees,   zero fee recurring buys on River enable you to invest in Bitcoin on a schedule that works for you. A supercharged recurring buy works the same way, but with one key advantage.   If the price dips at the time of your recurring order,   you automatically   buy double the amount.   So how do I set up supercharged recurring buys? And it gives a list of instructions   What I'm I'm looking for something in particular here   let's see   What triggers a supercharged   recurring buy?  

The answer is,   a supercharged recurring buy is triggered   if Bitcoin's price   is 1%   or more   below a moving average   at the time of your recurring buy.   Can I supercharge an existing recurring buy?   Okay. So here's here's where I have my problem.   Because, you know, you know me. I've always got a problem with something.   What's not said is,   because I can set up a buy that happens at a certain time of day, like 04:00PM   every   Monday.   That's sort of the way this this these recurring buys work.   And I'm trying to wrap my head around how I wanna explain this.   If if I'm buying at 04:00   and I buy, like, let's say, a $100 worth of Bitcoin every Monday at 04:00PM,   east,   Pacific Daylight Time.  

What if that dip happens at five?   So what's here here's what's not being said is that   do they   somehow massage this out throughout the day?   Do you I mean I mean,   it's like I mean, if I go down, like, 1%   and it just happens to be at the time of my recurring buy, then instead of a $100, I buy $200.   But what if it drops further from there?   And what I've always and I've always wanted something like this,   but   I I what I what they need to do here is say, look.   Look.   With some kind of algorithm,   I want to buy I would need you to scan Bitcoin's price,   and I need you to buy somewhere   every Monday. We'll we'll we'll say the granularity   stops at Monday and say sometime on Monday, between the hours of, I don't know, 12AM   Eastern   and 12PM   eastern time, I want somewhere close to the lowest average price I can get during that day if it happens.  

So maybe the price dips, like, 1%,   but instead of automatically buying right there,   it waits   and looks   and learns.   You know, we've got,   God forbid, AI,   and some people are using it with some effect   in the pause to the positive side   of trying to time buys.   I'm gonna buy the Bitcoin anyway. Okay? So I'm I'm not day trading here.   But I am saying,   I don't think this is I I think this is too granular, I guess, is what I'm saying.   Because it depends on what the hell happens at 04:00PM   Pacific Daylight Time every Monday   in October or however it is that I've got this set up.  

And I just think there's I think   I think there's something there that can be added to something like this,   and I'm just kind of floundering on being able to describe it well, which I'm going to rely on you, the crew, to be able to describe it for me.   What what is it I'm trying to say here?   Yes. You've got enough information to pull out what the hell's in, you know, those four neurons that are still firing up in my head. Tell me what it how do I describe what it is that I'm trying to describe in a single phrase?   A 100 to the winner on Nostril. Let let's put it that way. I'll see about releasing a Nostril note about it earlier, you know, later today after I'm done. And I am actually done for the day,   so don't dance, and 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.