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Episode 1195 of Bitcoin And . . . is LIVE!

Topics for today:

• TradGuy Compares Bitcoin to Soybeans
• Asian Exchanges Refuse Crypto Treasuries
• Cuomo Losing; Hail Mary's BTC
• Taproot Assets and Adoption

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Peony Lane
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Today's Articles:

https://www.coindesk.com/markets/2025/10/21/asia-morning-briefing-prediction-markets-say-government-shutdown-will-be-record-setting


https://x.com/LawrenceLepard/status/1980979022583783768


https://decrypt.co/345344/asian-stock-exchanges-slam-door-on-bitcoin-treasury-companies


https://cointelegraph.com/news/andrew-cuomo-crypto-hail-mary-unlikely-give-edge-mamdani


https://www.theblock.co/post/375601/sen-warren-slams-stablecoin-law-urges-treasury-address-trump-conflict-interest-concerns-financial-risks


https://cointelegraph.com/news/bitcoin-price-soybean-market-skeptical-crypto-analysts-peter-brandt


https://bitcoinmagazine.com/print/taproot-assets-bitcoin-as-a-medium-of-exchange


https://bitcoinmagazine.com/business/bitcoinos-secures-10m-led-by-greenfield-capital-to-unlock-zk-proof-programmability-on-bitcoin-mainnet


https://atlas21.com/trezor-unveils-safe-7-a-quantum-ready-hardware-wallet-with-open-source-chip/


https://bitcoinnews.com/press-release/pleblab-merida-bitcoin-startup-day/


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[00:00:02] David Bennett:

It's 09:20AM   Pacific Daylight Time. It's the October   2025.   This is episode eleven ninety five, and you're coming here for all the news you can use about Bitcoin and more.   And, man, it's all over the damn place. I've got some really   I got some good ones today. At least I I I think I do.   We're gonna talk about prediction markets   betting on the US government shutdown. We'll see what these guys have to say.   Lawrence Leppard is out there on Twitter, and he's got a,   he's got a little snippet   that we're gonna need to see about something called Primalend   Capital Partners filing for bankruptcy.  

Yeah. It's,   seems to be a there seems to be a credit crisis brewing.   Now Asia.   On over to Asia, we're gonna be talking about exchanges slamming the door on   crypto treasury companies.   And then   Andrew Cuomo does what to save   his dying   mayoral election campaign for New York City?   Yeah. I'll give you I'll give you a couple of guesses before we get there.   And then senator Warren is   on the warpath.   She,   she doesn't like the stablecoin law. We'll we'll just leave it at that for now. And then Peter Brandt   decides to compare   ones and zeros   to soybeans   in the nineteen seventies.  

Yeah. It's a stretch, but   you you gotta keep your eye on the detractors out there. Otherwise,   you won't know what's going on. And, again, that that's why you're here at the Bitcoin and podcast   with your host, me, David Bennett.   Then we're yes. We're gonna talk about Taproot assets.   Maybe we'll get some   some clarity as to   exactly what they are. Are they really that terrible?   Probably. But is there something else that they could be used for that's not terrible?   Also, probably, yes.   And then we've got something called Bitcoin OS   securing   a lot of money from Greenfield Capital.  

Z k proof programmability   on Bitcoin main net?   What does it all mean? Well, you'll find out. Trezor has unveiled their safe seven, and then we're gonna finish up with the builders   converging at Merida.   Merida? I don't I don't know exactly what it is.   Startup day in Yucatan   2025   recap.   This is actually part of PlebLab,   and,   they've I guess they've taken it to someplace else instead of Austin. So   you're along for the ride just like I am. Let's start it out here with   prediction markets   say government shutdown will be record setting.   You just give me a record setting shutdown.  

I don't know.   I was told yesterday that this was gonna be cleared up by the end of this week.   Who to believe?   Prediction market bettors   are growing increasingly   convinced that The United States Government shutdown will make history.   Contracts on Polymarket and Calshe   are pricing in a resumption of government after forty days,   surpassing the thirty five day record set back in 2019.   Traders on Polymarket   assigned the highest probability to a resolution somewhere around November 15,   while Kalshi's duration market forecast an average length of forty one point six days,   which would bring it to November 11.  

Even as much of Washington ground   ground to a halt with nearly   a million   federal employees either furloughed or working without pay, the Federal Reserve remains insulated.   The central bank operates independently   from congressional   appropriations,   meaning   it can still hold policy meetings and adjust rates during a shutdown.   Polymarket bettors assign a   96%   chance of a 25   basis point cut at the upcoming October 29 FOMAC meeting,   followed by an 85%   chance of yet another quarter point cut in December.   The challenge is informational with jobs, inflation, and GDP reports delayed.   The Fed may be forced   to make back to back cuts based on incomplete data.  

It may be entirely coincidental, but the last prolonged shutdown in 2018 through 2019   aligned with Bitcoin's bear market bottom   when BTC fell to just above $3,000   before rebounding strongly after the government reopened.   Yeah. You know, I'm not gonna give it all that much.   It's like a I don't know, man. It just seems like a coincidence to me.   In   for whatever reason,   it doesn't it well, it you know what? It doesn't matter.   There it   what this is sort of like I always rail against things like Polymarket   and Oracles and whatnot because all I keep thinking about is it just seems like another form of gambling.   And I hate gambling.  

I hate it. I mean, gambling for fun, Las Vegas, betting on sports,   all that kind of thing to me is   it just seems like,   I don't know, something that you probably shouldn't do.   But then   a lot of other people are saying, well, it's it's not you know, prediction markets aren't just for that.   It there it's taken the temperature and taken the pulse and other vital statistics   of a whole lot of people   that are representative   of a whole lot of other people   making   what they think is gonna happen known.   And I can't I just can't sweep that under the rug. You know, I I just can't.   And these these prediction markets seem   seem to be, like, dead on a lot of times. So are we looking at a prolonged shutdown that goes to forty to forty five days? Who who knows?  

But right now, it seems as far as the people that are able to make bets on this thing or or willing to make bets,   that's   probably what's going to happen. So we'll you know, as always, you'll have to wait and see.   So Lawrence Leppard,   getting back into something different,   has put out a tweet that says,   turns out the lower income consumer   is in deep shit. Who knew?   And he gives a screenshot   of this Bloomberg   article that says,   subprime lender, PrimaLend,   enters bankruptcy   after bond default.   PrimaLend   Capital Partners   filed for bankruptcy   after months of negotiations with creditors   following missed interest payments on its debt.  

Primalend,   which provides   financing to,   wait for it,   auto dealerships. Remember Tricolor?   That happened, like, what? Three weeks ago? Four weeks ago? Something like that? Tricolor auto loans are and and that whole thing?   Yeah. They're not the only ones.   They're not the only ones.   So Primalend, which provides financing to auto dealerships that cater to subprime borrowers. Remember the word subprime?   Where did we hear that? 02/2008.   Subprime   borrowers   listed estimated   assets and liabilities   below $500,000,000   each according to court documents   it filed in the Northern District Of Texas.  

In a press release,   Prima Lynn said it was pursuing a sale of the business in bankruptcy court and would continue to fund and service loans to its own borrowers.   PrimaLend finances, quote, buy here,   pay here auto dealerships.   Excuse me. Auto dealerships, which serve low income borrowers.   Again, think 02/2008.   Quote,   no debt is being called due or   accelerated   as a result of this process,   Primal Lens chief executive officer Mark Jensen said in a release, quote, we deeply value our dealer borrower   relationships   and look forward   to continuing to serve the buy here, pay here industry as we move forward,   end quote.  

The company has received a commitment for bankruptcy financing to help fund operations in chapter 11   from existing lenders according to the release. So we've got another one.   Tricolor was   was first,   and now we're looking at PrimalEnd.   And this is all due to subprime borrowers   again. What does it mean? It means nobody   learned   anything,   but moreover,   it demonstrates that   the credit markets   are out of control.   They just are   out of control.   The only way that anybody can make money is to   lend real money to people that can't actually afford to borrow that money so that they can go buy some real asset   with the hope that they pay it back   in monthly payments of interest and principal,   and it just never happens. So you gotta start wondering,   why would   why on earth would Primalend   make loans   in the exact same environment   of 2008   to people that were the exact people   that loans were being made to in 02/2008.  

Some there's something else here.   The business model doesn't have anything to do with, oh, we're just trying to help the low income people. That's not the business model. The business model is somewhere in the back end, and   I I I am just, I don't have enough neurons to rub together   to figure out that picture. But it is not   about providing loans   to low income people.   It's   it's is it predatory? Oh, yeah. Yeah. It it's predatory, but it's predatory on both sides of the fence.   But, again,   that's not nobody   is doing this after what we learned in 02/2008.   Nobody's doing this. And and probably back in 02/2008, nobody was actually doing this to, quote, unquote,   service these low low income people.  

It everything is predatory.   There is nothing but sharks and barracuda   and piranha and all that crap swimming in salt and fresh waters.   Be   terribly careful out there. My advice, buy Bitcoin, hold Bitcoin.   But you might not be able to do it as a treasury company in Asia.   Asian stock exchanges   slam door on Bitcoin treasury companies according to Vismayevi   out of Decrypt.   Major Asian stock exchanges   are rejecting firms   pivoting into digital asset treasuries,   a clampdown experts say is needed to prevent markets from being exposed to   severe   volatility   risks. Oh my. Oh, the humanity.  

Hong Kong Exchanges and Clearing   has rejected the applications   of five   firms seeking to adopt Bitcoin treasury strategies in recent months according to Bloomberg.   India's Bombay Stock Exchange last month denied India's first publicly listed company attempting to adopt the Bitcoin standard,   Jet King Infotrains   listing application   after the IT training company planned to allocate 60%   of raised funds to Bitcoin.   In Australia,   the ASX bars listed companies from keeping over half of their assets in cash or cash like holdings,   effectively ruling out digital asset treasury pivots.  

Joshua Chu, lawyer, lecturer, and cochair of the Hong Kong Web three Association,   told Decrypt   that fragmentation   across Asian jurisdictions will likely persist   because each market prioritizes   distinct   policy objectives. Quote, Singapore's regulatory emphasis   centers on payments and the regulated use of token   tokenized   payment instruments,   whereas Hong Kong's development is more product centric,   focusing on governance, investor protection,   and the regulatory treatment of crypto enabled offerings within capital markets,   Chu explained.  

He added, quote, India pursues   a much stricter stance on crypto rebrands   and related activities, and Australian   Australia   maintains a cautious   market conduct oriented posture in its exchange frameworks.   The crackdown comes after retail investors lost an estimated $17,000,000,000   on digital asset treasury trades   according to a recent 10 report.   The pushback comes as hundreds of companies globally have adopted the Bitcoin treasury model pioneered   by Michael Saylor's strategy, which now holds over 640,000   BTC.   This week, Citi,   c I t I, the bank, Citi, gave strategy a buy rating with a $485   price target, but warned the stock presents significant risks   due to its positioning as a leveraged proxy for Bitcoin,   noting even moderate Bitcoin price declines can lead to magnified shareholder losses. Well, that's just a CYA statement.  

That's all that is. I mean, of course, they're going to say that.   That that's not actually newsworthy. I'm sorry about that. On prediction market, Myriad,   launched by Decrypt's parent company,   Dastan,   users overwhelmingly   expect strategy to stay on course on its Bitcoin acquisition spree, placing only a 7% chance on the firm selling any Bitcoin this year.   Quote, the elephant in the room,   are DATs   really justified?   Chu questioned, noting without a credible business case,   rigorous governance, robust custody, and transparent risk controls,   such DAT   structures can become misaligned with shareholder interests   and could invite the kind of liquidity and governance risks   regulators worry about.  

He warned against loosening traditional corporate rules for crypto treasuries, noting   they protect against volatility   arbitrage   shells   disguised as leverage Bitcoin plays   that have led to recent retail losses.   Traditional corporate rules should still govern digital asset treasuries, he said, warning that loosening them risks a repeat of the .com era's speculative frenzy without revenue backing.   Siddharth Barwani,   j m d and CFO   of JetKing Infotrain, told the crypt,   the company's appeal to the Securities Appellate Tribunal following BSE's rejection   isn't about confrontation.  

It's about clarification.   He called the rejection, quote, a missed opportunity   to explore   how Indian listed companies can responsibly innovate   with Bitcoin in ways that add long term shareholder value. And where have we heard that before? Quote, India   is unique in its challenges, Barwani said,   noting that while there is demand   for digital assets   and flourishing ecosystems being built, a lack of clarity is causing founders to move away offshore,   end quote.   Countries like Japan   and The UAE are creating regulatory frameworks, he added, while India, Hong Kong, and Australia   need to openly support such innovations. Well,   okay.  

India,   they they definitely do.   Expecting Hong Kong and Australia,   of all places,   to follow suit?   No, man.   No.   I mean, Hong Kong would have. In fact, Hong Kong would have been the leader in all of this had they not been folded back into China.   What was that? '99?   Somewhere around there. I can't remember. If if they if Hong no. They got folded back into China.   China promised that Hong Kong would remain independent.   And then, what was it, 2018,   2019, somewhere around there is when China said, yeah, bullshit.   We're we're taking it all over. And and now Hong Kong that's when you have the red umbrella,   unrest and and demonstrations over there in Hong Kong, and they lost.  

If that hadn't have happened, I guarantee you,   it wouldn't be South Korea.   It wouldn't be any   the center of all this,   like, this this   ecosystem that's developing around DeFi   and treasury companies and all that stuff, that shit would be hardcore   centered in Hong Kong. Now Michael would have started it, and he'd stay here in in The United States, and you'd have a lot of United States companies.   But if Hong Kong had embraced it or been in a position to embrace it, they would,   and it would have been a completely different landscape   for digital asset treasury strategies. But   even me   is in agreement in in a large part with Chu when he's like,   dude, do you have a product for sale?  

Oh oh, I'm sorry. You don't? All you do is is construct debt instrumentation and sell it to retail?   Yeah. Not interesting.   And it's not.   And, again, the only way that   that strategy   remains strategy   is if they come up with some kind of service   that makes a revenue   that's based on their Bitcoin holdings that is not the construction   of brand new shiny debt instrumentation   to sell to retail.   They gotta start doing shit like making loans   or something, some kind of financing,   something that's gonna bring money into the coffers   that is not retail saying, I want your newest   yield bearing   senior note thing.  

Right?   I'm just I mean, honestly, it's becomes also very tiresome,   which is when you need to pop open a bottle of red wine or white wine, you can get both from Peony Lane Vineyards.   And you can find that at peonylanewine.com.   That's pe0ny,lanewine.com.   Peonylanewine.com.   And he takes Bitcoin   for his wine. Because if you're not taking Bitcoin for your goods and services, you're not in the circle p. Circle p is open for business and it's where I bring   regular retail   plebs just like you   that make something or have something of a service for sale in Bitcoin   for people   and plebs just like you who want to buy   those goods and services in Bitcoin. And you can do that at pandelanewine.com.  

Go to pandelanewine.com   and make sure you use Bitcoin and in the coupon code. Now he's not gonna give you a discount, but it does let him know that you heard about his wine   here on the Bitcoin and podcast.   And if   he chooses,   because we don't have a contract, it's just a digital handshake,   he can pay me in Satoshi's   what he thinks that sale would have been worth here on the only value for value advertising model   anywhere   on the web or at least in in podcasting.   Make sure you consume your forty hours per week, by the way. Alright. On to Andrew Cuomo   and his dying   mayoral campaign in New York City. Mom Donnie   is handing   Cuomo   his ass.  

Mom Donnie is gonna win.   Do I like him? No. I'd I'd of course not. I don't like mom Donnie. I'm actually   kinda weirded out that so many New York City residents want this guy in, but   it doesn't matter whether you love him, hate him, completely indifferent.   He's gonna win this shit hand down.   So that's why   Andrew Cuomo's crypto   hail Mary is unlikely to give him an edge   over mom Donnie, Aaron Wood, Cointelegraph,   former New York governor Andrew Cuomo   lags far behind   Democratic front runner Zoran Mamdani   despite   unveiling his proposal to make the city a   sing it with me.  

Crypto hub.   Cuomo's plan,   announced on Sunday, would create a new office that would be responsible for attracting emerging tech companies, including cryptocurrencies and blockchain.   The move follows similar initiatives from outgoing mayor Eric Adams, which have yielded mixed results so far. The mayor's office reported that many crypto startups have appeared in New York, while existing crypto businesses have not seen much change.   Some have noted that the mayor's office generally has little influence over how and whether the crypto industry develops.   With the mayoral election just two weeks away, thank god, two weeks away,   a last ditch effort to appeal to the crypto industry may not be enough to give Cuomo the edge over the front runner.  

On Sunday, Cuomo's campaign announced that if elected,   he would create a chief innovation   officer   within his administration to attract business in emerging technologies.   He would also create an innovation council   comprising   executives from three industries,   blockchain,   biotech,   and artificial intelligence.   You you knew it was gonna be in there. Cuomo said,   quote, the next mayor must make sure we're also leading in the technologies that will define the next century,   AI,   blockchain,   and biotech.   That's what this position is about, keeping New York City not just competitive,   but dominant   in the global innovation economy,   end quote.  

The appeal of turning to the crypto lobby is understandable.   Crypto lobby groups broke campaign funding records in the twenty twenty four elections   and made digital asset regulation   a top priority for lawmakers in Washington.   The Winklevii,   otherwise known as the Winklevoss twins, whose donations to crypto industry lobby groups have reportedly broken $30,000,000   just this year,   have also been harshly critical of Cuomo's main opponent,   Democratic candidate Zorhan Mamdani,   in a rambling June x post over whether he would get involved in the NYC mayor race by supporting a candidate   that can defeat Zorhan Mamdani, Tyler Winklevoss   condemned Mom Donnie,   and Democrats   writ large.  

I love it when people use the term writ large. It means everybody,   everything else.   Anyway, he said that democratic cities were broken kleptocracies   and that anarchy and socialism are the next logical steps in that story arc. He said   that financiers and hedge fund managers have failed   to protect the system that allowed them to achieve their success in the first place and has allowed New York City to once become the greatest city in the world.   These hedge fund managers and financiers, including pro crypto Pershing Square CEO, Bill Ackman,   have reportedly donated   millions to Cuomo's campaign in recent weeks.  

But an appeal   to pro crypto hedge funds may not be enough to move the needle for Cuomo.   According to a recent   AARP   poll,   mom Donnie enjoys a double digit lead with 43.2%   support   followed by Cuomo at 28.9%,   Guardian Angels founder Curtis   Sliwa   at 19.4%,   and 8.4%   undecided   or preferring another candidate.   Crypto   didn't break into the top concerns for respondents, quote,   cost of living remains the top issue for nearly two thirds of voters with public safety and housing affordability   also key. Well, cost of living and housing affordability kinda go hand in hand, but whatever. Despite concerns about the city's direction, optimism about future improvement under new leadership has grown modestly   since the August poll.  

And they go on a little bit more, but what we really need to focus on   is that the twenty twenty four   presidential campaign in The United States   started   something   akin to   Michael Saylor's strategy   of having a   a strategic Bitcoin reserve.   Trump won that election because   he appealed early   to Bitcoiners   and, obviously, shitcoiners as well. I know. It's it's it's sad, but it's true.   He that's how he won that election.   Had he not had   gone to I was it I can't remember if it was Miami or Nashville where the Bitcoin the big Bitcoin conference was   during that time. But he,   early on, came out swinging for Bitcoin.  

But you knew he was full of shit because the last thing he said at that keynote speech at the Bitcoin conference was something akin to, now go have fun with your Bitcoins,   which told me he didn't understand   anything about it at all. It didn't stop him from making a billion dollars for his family on Trump coin.   I mean,   I don't have to love Trump. I don't have to hate Trump. I'm actually neutral on the guy.   There's some shit that I think he's doing good at. There's there's another there's a whole other raft of shit that I think he sucks at.   Welcome to The United States presidency, ladies and gentlemen. I mean, girls and boys, there's hookers to the left and cocaine to the right and beer in the fridge in the back. It's always the same.  

Not there's never been a president that everybody just said, you know what? I like this guy. I like everything he does, nor has there been a president where everybody absolutely hates everything he does.   And and don't listen to the media because the media is has been bought and paid for for, like, fifty years.   But I am saying this.   When you see Andrew Cuomo   going back into the Statue Of Liberty play   and then break out and and and run for a hail Mary   and try to chuck that ball to any receiver that he's got downfield, and that's way down there,   you know he's in trouble, and you know he knows   he's in trouble, and you know that his top advisers   also know that he's in trouble. Mom Donnie's got this shit sewn up.  

There is no appeal to Bitcoiners, Shitcoiners,   Altcoiners, ICOers, whatever   you defy guys.   It   he's losing this.   He's already lost it.   It's sad for New York City to see mom Donnie come in.   If they think it's bad now,   woah, Nelly. They ain't seen nothing yet.   Now   let's shift gears and get onto a warpath   with senator Elizabeth Warren   slamming stablecoin law and urges treasury to address Trump conflict of interest concerns and financial   risks.   See,   I hate   Elizabeth Warren with a passion. She straight up lied, bold faced lied   to every American citizen when she said that she was, like, a quarter Native American.  

She has I have as much Native American blood in my genetics as she does.   She's a   liar. But I agree that Trump has a major conflict of interest   with what's going on with Trump coin   given   the fact that he's president of The United States.   Even I agree   with senator Elizabeth Warren on this. See, there's there's nobody that I can find that I 100%   disagree with or 100%   agree with. Anyway, this is Sarah Wynne writing for the block. Crypto critic senator Elizabeth Warren lambasted   the stablecoin bill signed into law a few months ago and is urging the treasury department   to fill in gaps to address president Donald Trump linked conflicts of interest   as well as to protect   consumers.  

Warren,   who is the top Democrat of the Senate Banking Committee, called the g got the the the Genius Act,   as it is aptly called, a light touch regulatory   framework for crypto banks in a letter sent to the treasury secretary.   Punchbowl News first reported it or reported on this letter, quote,   it's critical   that treasury takes steps to implement and enforce the law in a manner that attempts to limit severe risks to United States financial stability,   consumers,   taxpayers,   and national security, Warren said in the letter.   Genius was signed into law by Trump in July. The act requires stablecoins to be backed and fully backed by US dollars or similarly liquid assets.  

It mandates   annual audits for issuers with a market capitalization   of more than $50,000,000,000   and establishes guidelines to foreign issuance.   Now   lawmakers have turned to drafting and passing bills to regulate the crypto industry at large, which Warren says can be used to address weaknesses in the Genius Act.   This comes as senate Democrats and Republicans are expected to hold   two separate meetings   with crypto executives   to discuss   that larger bill. The Democrat meeting is slated for 11:30AM   eastern time, and the Republican meeting at 2PM   eastern time,   Wednesday. That would be today.  

Quote, treasury has an opportunity to address some of these risks in bipartisan negotiations   over legislation being considered in congress   to set the rules for the overall market structure of the crypto industry, Warren said.   Warren is not alone in raising concerns about weaknesses in the Genius Act last week. Federal Reserve governor Michael Barr said the law leaves several regulatory gaps and called on federal banking agencies and states to work together   on rules to close them and safeguard the financial   system.  

A major concern for Democrats   has been president Trump's involvement in the crypto industry, particularly   for stablecoins.   Some Democrats voiced concerns   about Trump's family run World Liberty Financial USD, which is now one of the largest stablecoins   in the world   according to bank rate. Now, you know, I'm just gonna pause right there and say, dude, no. It's not.   Or okay. Sure.   It could be one of the largest.   But it's I mean, as far as effectiveness,   it's not large. Nobody's using this shit.   People are using Tether and they're using Circle.   That's what they're using. And they they might actually also be using,   Tether's gold backed stablecoin. But even then, it probably pales in comparison to the actual use of Tether itself as a stablecoin.  

To say   or to conflate   the fact that Trump's stablecoin   is   its usage   is somehow   akin to the size of it is ridiculous.   It's not being used. Most of this garbage is not being used.   Circle and Tether,   those are being used.   The rest is just sand in a play box. Anyway, quote, given the importance of addressing this glaring problem,   I expect that treasury will propose   specific steps for addressing corruption.   Holy shit Treasury will propose specific steps for addressing corruption it implements in the Genius Act   Wow Explain how it has insulated its proposed rules from conflicts of interest   and advocate for a meaningful legislative solution as congress considers setting the rules for the broader structure of the crypto markets, Warren said in the letter.  

Treasury also needs to propose strong plans for addressing illicit finance and how it plans to mitigate risks that consumers will get ripped off in transactions   involving stablecoins,   Warren said. As for financial stability,   Warren said the Genius Act does not have the necessary safeguards to ensure that stablecoins don't blow up our entire financial system.   The Massachusetts senator cited Paxos' recent accident   minting 3,000,000,000,000   US Pi USD stablecoin tokens. That's the that's the PayPal   one. And that one actually is also being used, but not to the degree that Tether and Circle is. I'm just just saying. But they accidentally minted 3,000,000,000,000   pie USD stablecoin tokens,   which the company attributed to a technical issue. Quote, this incident   demonstrates the serious risks   that operational failures can pose to an issuer   market integrity   and potential financial stability.  

Treasury owes the public an explanation for how   it intends   to address   those risks,   and if it cannot,   the authority it needs from Congress   to do so.   Again, I I'm honestly   as much as I cannot stand this woman,   she makes it I mean, that's a good example.   Accidentally   minting   3,000,000,000,000   US   or it actually was 300. It wasn't it wasn't 3,000,000,000,000, dude.   It was 300,000,000,000,000.   Let's let's be very clear about this. It was 300,000,000,000,000,   so she didn't even get that part right. But she does make a good point.   That's a serious risk.  

It's a serious risk   of operational failure   in a global financial market. Thank God   not that many people use Pi USD.   You know? But if it had been a if it had been a Tether mistake,   well, we see some some real problems there. But, hey,   all this,   it's all new, and everybody's trying to navigate this shit. While these assholes   spent most of their time since 02/2009,   either doing   they were doing one of two things since 02/2009.   They didn't even stop to look at it, I e, they didn't even know about it probably until   2017.  

And then they spent the next few years, actually, until   well, up until   up until 2023,   2024,   when Trump won you know,   when it was gonna be clear that Trump won or was going to win and he was gonna do it with a whole bunch of Bitcoiners and other cryptocurrency   guys at his side,   they laughed at us. And they told us we were evil, and we were criminal, and and they still   never tried to wrap their head around it. And now they are reaping what they have sown.   A complete   lack of understanding of how any of this shit works,   They have completely dropped the ball.  

They have   no way out,   and they're depending   on these two meetings   with some of the worst representatives   of   certainly Bitcoin,   but even crypto.   I mean, in late even the crypto ecosystem. We got Brian Armstrong.   The the rest of this panel   that they've put together to go talk,   quote, unquote, talk sense into the Democrats and the Republican sides of congress,   it is   it is just   it is a terrible lineup.   They could have picked   any number of people that really know what go what's going on, but they didn't.   They asked the worst representatives of this entire industry   to come, quote,   educate them   on Stablecoin,   you know, the regulations that are necessary for this, what how they think financial markets will be structured in the future.  

These are not the droids you're looking   for. Let's run the numbers.   CNBC   Futures and Commodities, and, oh my god, breaking news. The Dow has dropped 200 points   on more trade fears. So I guess orange man opened his mouth and said the words tariff and China on the same   sentence.   But   energy seems to be doing okay today, making actually kind of a slight recovery.   Brent Norsey is up 2.2   to $62.67   a barrel. West Texas Intermediate Oil is up two and a half percent to $58.63.   And natural gas   as the hedge   for the petroleum markets is down a point   to $3.44.  

Gasoline is up over two points in Murbaughn crude. Everybody's favorite back   to four back to $4,066.   Oh.   Oh. Is it gonna lose the four k handle? I don't know. Somebody check on Peter Schiff. Palladium is up one and a third. Platinum is up two and a third. Silver is up almost a half. Copper is up almost a half as well.   Ag is pretty much fully mixed. Cocoa knocking it out of the park, 6.8%   to the upside. Biggest loser,   rough rice, 2% to the downside. Live cattle is down one. Lean hogs, down point 69%.   And feeder cattle are down almost two points.   I guess this is   the fallout from Trump saying that we're gonna buy Argentine   beef.  

I'm I can't start talking about this because I'm gonna start ranting.   This is a terrible idea   is all I'm going to say.   Support your United State ranchers.   Please go shake find out who they are. Go to beef initiative   look. Google beef initiative maps.   There's a map   of somebody who's put their name in the hat with the beef initiative, my friend, Texas Slim.   Find the one that's closest to you. Go out and meet them.   Go go to the farmers market. Go meet them. Go buy their meat.   We don't need to support Argentina.   We need to support our own cattle people.  

I'm sorry. I   see, I told you I'd rant. S and P is off point 7%.   Nasdaq down 1.3.   Dow is off a half and is now down 259   points. S and P Mini is down almost a full point. So I guess Trump did say China and   tariff in the same word.   Although,   we still have a 108,180,   but it may be dropping yet. 160   is it gonna drop again?   What what what'll happen? What'll happen?   Nothing. $2,160,000,000,000   of market cap gets us 26.6   ounces of shiny metal rocks with our one Bitcoin of which there are 19,938,148.04   of   an average fees per block or low 0.02   BTC taking the fees on a per block basis.  

There's 19 blocks carrying 34 unconfirmed transactions waiting to clear at high priority rates of three sats per v byte.   Low priority is gonna get you in at one.   Mining,   1.12   zeta hashes per second, so we're   we're holding steady   on hash rate, which is the   security backing of the entire Bitcoin network. I feel safe, and you should too.   From   Don't   Fucking   Dance, yesterday's   episode of Bitcoin. And I got Jay   with $37.37   sats. Wow. Thank you, brother. Says, with regards to trying to find dips to buy.   Back in the day, I used to use Gemini to buy Bitcoin.   Gemini has a great API for algorithmic trading. I did not know this.  

At the time, I had also read a great book called Algorithms to Live By.   In it, the author   describes the optimal stopping algorithm.   In essence,   it lets you choose the best time to buy or sell by watching the price for the first 37%   of your time period.   Then for the rest of the time,   you buy at the first time you see the price dip below the lowest price you saw in the observation   period   or just buy at the end of the period. Theoretically,   you have a 37%   chance of catching the best price in that period.   I wrote an AlgoTrader in Python to actually use this buying algorithm for a span of six months, and it actually worked pretty well. I didn't do it any any deeper analysis on it, but I would venture to say, it would get you a lower cost basis than buying at a set time each week.   Thank you, Jay. I I appreciate that. I'm gonna have to look into this book. And it's I'm not gonna be looking into this book   because I trade. I don't trade this crap. Okay?  

Even even when it comes to Bitcoin, which is not crap, I still don't trade that crap because it's going to kill me.   I'm not good at it. However,   a book about algorithms in general,   might be worth it. Turkey with 500 says nothing,   and Pies with one twenty one says, thank you, sir, no thank you.   And, I think Psyduck   with seven fifty four says   Psyduck,   and that's the weather report.   Welcome to part two of the news that you can use.   I got Peter Brandt here,   who   I guess is taking drugs   or something because only   a low life,   thug   life   heroin   addict would   actually say the following.  

Bitcoin   chart   is echoing the nineteen   seventies   soybean bubble.   When you get done laughing,   listen to the rest of it from   Saran   Lyons   out of Coin Telegraph. I'm pretty sure I just butchered that dude's first name. But Bitcoin's price chart   has started to show similarities   to the soybean market fifty years ago, which saw prices top   before plummeting   50%   as global supply began to outweigh demand, warns veteran trader Peter Brandt.   Let's just pause and take a deep breath.   Bitcoin's price chart   looks like a soybean market chart   fifty years ago   that plummeted 50%   because global supply   outweighed   demand   of a commodity,   of something that you grow,   and that more people started   growing. So supply went up.  

However,   other Bitcoin analysts are confident that the charts are signaling further upside ahead,   Pausing to say, don't listen to these directions.   Let's just concentrate on the fact that Peter Brandt   is comparing,   I would say, apples to oranges, but in this case, it's more like apples to   fish   or a rock   or something. Quote, Bitcoin is forming   a rare broadening   top   pattern on the charts. The pattern is famous for tops, Brandt told CoinTelegraph.   In the nineteen seventies,   soybeans formed such a top and then declined   50%   in value,   Brandt said.  

Brandt then warned that if history repeats,   it won't just affect Bitcoin. It will also leave Michael Saylor's company strategy underwater.   Brandt further warned that the big Bitcoin pump the crypto community has been waiting for may never come to pass, and that instead Bitcoin could head to bear levels as low as 60,000.   Well, most analysts, however, believe Bitcoin still has one major rally left in this cycle, a move that could push Bitcoin's price as high as $250,000.   Again, stop listening to these numbers.   I'm I'm actually gonna scan this to look for more of Peter Brandt before we discuss this a little bit.  

Do is it extreme fear,   alpha BTC? No. That's all it is. So   here's my problem. I I I didn't want to to bring this to you   because it's got price predictions on Bitcoin. Either way.   No. This is   ludicrous.   You're comparing   a cryptographically   secured   person to person   money transmission   system   and control grid   to soybeans,   a commodity that is physically present that more can be grown of   and can be consumed never to be seen again   from the nineteen seventies.   I've never seen Peter Brandt reach this hard,   and it makes me wonder the following.   Did Peter Brandt   take a section   because if I go back to this graph this graph that he's where he's talking about the   broadening top,   the graph   in totality   spans   from September 22   to   yesterday.  

Not 09/22/2004,   Not 09/22/2003.   Certainly not 09/22/2009.   No.   Hand like, you know, three weeks.   Give him four.   Whatever whatever that number is. I'm not gonna do math on air.   And   so right there, we have a major problem.   But second,   I think he might have taken a snapshot or just, you know, got the data down in some kind of CSV file, you know,   like an Excel file or or even just a comma delineated   file in in text format   and give it gives it   to something like, I don't know, chat g p t or or   some other AI,   and then says, find me   all of the examples   in history in markets that this   graph matches   or that this data would match.  

And AI kicks out, you know, this looks a lot like what happened to to soybeans in the nineteen seventies, and Peter's like, brilliant.   Bring it. And then starts tweeting.   This they're not bringing their best anymore.   I remember when Peter Brandt used to make actually good arguments.   Well,   not not anymore.   Not if he's gonna compare Bitcoin to a farm commodity.   This is just beyond   beyond the pale.   Okay. So   cap roots.   Not from trees. Bitcoin taproot.   Taproot assets,   also known as tapass.   Bitcoin as a medium of exchange.   This is an article from Bitcoin Magazine   pinned by Hannah   Rosenberg.  

Yes. Let's go.   What is Bitcoin   and who is it for?   There are a plethora of catch phrases available on Twitter to cover this one.   Bitcoin is for everyone. No. Wait. It's for anyone. Bitcoin is a store of value. Bitcoin is a medium of exchange.   We could do a classic appeal to authority and declare that Bitcoin is exactly what Satoshi   described,   a peer to peer   electronic cash system.   Bitcoin becomes what we make it. It serves the people we choose to build for. If we want Bitcoin to be a store of value or medium of exchange, we have to build the protocols and services that make this happen.   Sometimes it's more interesting to ask specifically,   who are we building for?  

Are we building for Americans looking for long term investments?   Are we building for a shop owner in Brazil,   a reseller in Turkey, a software developer in Nigeria?   If we want Bitcoin to be a medium of exchange, we need to focus on the users who need it most,   and Taproot Assets is the tool for that job.   Taproot Assets allows us to take the assets   and units of account that people want and need today as mediums of exchange   and move them to Bitcoin infrastructure   on the Lightning Network.   From a technical perspective, Taproot assets is a protocol that allows for the minting of assets on the Bitcoin blockchain   in a very block space efficient fashion using Taproot transactions   made possible by the November 2021 Taproot soft fork activation.  

Client side validation is used.   The protocol is opt in, and no consensus   changes are required.   Fungible assets are exchangeable on the Lightning Network, and you can use this protocol on main net today.   Taproot Assets is a flexible protocol that's already opening the door to a wide variety of use cases, but the core use case   is stablecoins   on the lightning network.   So why is this such a powerful tool for adoption?   Well,   meet people where they are.   It's easy to get immersed in the Bitcoin world where we use Bitcoin, talk about it constantly, and   dive deep into all the things that it fixes.  

That passion and curiosity is powerful, but the real magic happens when we connect that world to people outside of it. Most people don't have the time available   to outside of it.   Most people don't have the time available to study monetary theory or economic history. Free time and disposable income are not the norm in the world today.   Stay humble.   If we want Bitcoin to serve the world,   let's meet people where they are, and we can. We have the tools and the skills to build things that are truly useful,   products   that people love not because they're Bitcoin powered,   but because they solve real problems.  

Adoption won't come just from our impressive understanding of Austrian economics. It will come   from building things that are so useful, people can't help using them.   The true measure is in the utility.   The true measure is in the users.   Number of people go up.   Stablecoins.   And so let's talk about stablecoins.   Love them or question them, stablecoins have clearly found product market fit.   The invisible hand has spoken.   I guess we're talking to the hand now. Let's look at some numbers. In Brazil, approximately   90% of crypto transactions are tied to stablecoins primarily for payments   and remittances.  

Tether estimates that it has 434,000,000   users worldwide, transacting 31,000,000,000   USDT   daily.   About 13% of the total USDT supply is held by savers who are likely   in emerging markets   without   other access to dollars.   Tether has a market cap of a $153,000,000,000   and recorded over $10,000,000,000,000   in total volume   in the year of 2024.   USD coin or USDC follows with a $61,000,000,000   market cap.   Utility.   Why have the people chosen stablecoins?   Utility.   Most people around the world don't have the luxury to huddle through a bear   market. Most humans don't ponder the intricacies of fractional reserve banking. They're busy living,   busy being fathers and mothers and small business owners and doctors and carpenters and farmers and teachers and students.  

All the things that keep the world turning.   Most people are simply seeking an improvement   in their day to day lives, and it's our job as experts on money to give them what they need.   They need   stability   and affordability.   As the Bitcoin adoption story goes, first, we achieve store of value,   then medium of exchange,   and then unit of account, the final boss.   But   if we facilitate   stablecoins,   are we preventing Bitcoin from achieving unit of account?   No.   Bitcoin will be a unit of account if and when the world needs it to, if and when we make it available.   Those choosing to use a stablecoin on the Lightning Network will be doing so because it is the best option for them. It's the option that brings the most utility.  

They aren't thinking about adopting Bitcoin,   and they don't intend to adopt adopt Bitcoin, the unit of account.   But they will be adopting Bitcoin, the network.   They will be adopting Bitcoin,   the payments infrastructure.   We often think of replacing the Visa network. And to do that, we have to be more useful than Visa, which processes transactions   in a 175   different currencies.   Our Turkish reseller is an expert in what he does and not an expert on decentralized   networking technology.   He'll choose Lightning over Visa when it becomes the better, more affordable,   easier option for running his business.  

And for many businesses, lightning already is faster   and a more affordable option.   Let's imagine that   pre corner,   sorry, let's imagine that pre coiner shop owner in Brazil.   She's managing her business, making transactions using the stable coin via a Taproot assets lightning wallet.   She's made the switch to Bitcoin infrastructure.   She was enticed to do so by a simple, easy to use mobile wallet that simplified her business, cut her cost, and reduced her risk.   This wallet allows her to make instantly settled,   global,   incredibly affordable transactions and to do so in a wide variety   of currencies.  

She came for the utility of this medium of exchange, but is now one button away   from losing her pre   status. And   should that global fiat money collapse finally arrive one random Tuesday afternoon,   she just needs to push that button   to switch out of fiat and into Sats because she is already running on the Bitcoin infrastructure.   The potential and utility of a Taproot assets enabled   multi asset Lightning network is grossly underappreciated.   Seriously.   It's a medium of exchange like the world has never seen before.   Application builders   and their users can have any unit of account that they like.  

US dollars, Brazilian real,   euros,   etcetera.   And it's all routed through Bitcoin. Taproot Asset's Lightning transactions   require Bitcoin liquidity.   These transactions support and grow the Lightning Network and enable a plethora of options.   A payment can be sent out by Alice in dollars,   but Bob can receive   Bitcoin.   Alice can send another payment in dollars that will be routed through the Lightning Network   through the Sats denominated liquidity in the center of the Lightning Network onto Carol,   who opts to receive a euro   denominated   stablecoin.  

Our Turkish reseller can sell goods to our Brazilian shop owner using a stablecoin.   Not only can he interact with businesses around the world without friction, but also any regular Bitcoiner can transact with either using Sats seamlessly.   No need to touch that stablecoin   if they don't want to.   And it gets even cooler. Let's imagine for a moment the following scenario.   And here we have a post   from a person by the name of Michael Levin on x that says,   let's double click with a hypothetical.   I'm in Tokyo with a friend, Sofia, from Mexico.   We get ramen.  

I pay the bill. She pays me back.   I pay USD,   but the restaurant receives Japanese yen.   Sophia pays pesos to me, but I receive   Bitcoin.   Routed through Bitcoin liquidity   on Lightning Network nearly instantly   for low   fees.   Interesting.   Oh, wait.   Oh, here it is.   A global,   scalable,   instantly settled payment network that's meaningfully cheaper than Visa,   a payment network that now gives users the option to transact in whatever coin they want.   This is the brilliance of building with Bitcoin as infrastructure.   People adopt the network   before they even know it's Bitcoin.  

K. Getting back to this   this article. In conclusion,   if we want to see Bitcoin as a medium of exchange,   if this is what we are building for,   it's our job as the experts   to give the people   what they are clearly telling us that they need, instant low fee stable value transactions.   In other words, multi asset lightning.   Now, of course, Taproot assets is a versatile protocol.   It can and will be used for all sorts of things, including use cases   that appeal to the American crowd who see Bitcoin primarily as a long term investment.   Yay. Permissionless innovation.  

With this protocol,   we're helping   usher Bitcoin in its medium of exchange   era.   Alright. So that's that's the end of the article.   She makes a good point.   Is it she? Hold on a minute. I forgot the author's name. Yes.   Hana makes a good point.   Taproot assets right now are kind of like,   well,   they're being blamed for everything from ordinals to NFTs on on Bitcoin,   and and that's fine.   But we have seemed to have forgotten about the other stuff that Taproot assets was supposed to do,   And Hannah's got a point.   I've been saying   something similar for a while now. It's it's about the user experience.  

You know, if like like this whole like, going back to to my when I first started talking about how important user experience was,   Square and Square Bitcoin. The the introduction   will will get it November 10. Some people are already experimenting with it, and it seems to be working just fine.   We'll we'll be Square will be able to transact with Bitcoin,   And all the merchants already will have that capability.   And we can think about it from from the Cash App standpoint, which has had Bitcoin on it for years now.   And yet, every single time that I talk to somebody   and they say, I don't even know how to buy Bitcoin. And and it doesn't always work because not everybody has it. But I'll I'll say, well, do you have Cash App on your phone?  

They're like, yeah. And I go, you can buy Bitcoin right now. And they're like, what? And I go, open up your Cash App.   Have you ever really looked at the bottom of the screen on your phone? There's there's a Bitcoin symbol. They're like, holy crap.   Like, yeah. Hit the Bitcoin symbol.   And then the interface for that, that whole side of Cash App comes up for them and they go,   I can just buy this directly from my bank account. And I'm like, yes, you can because you've already put all that information in.   And we can talk about KYC AML another day. My point is   they already have it.  

And the guys that are you the merchants that are using Square,   they will already have it as of November 10. They'll already be able to interact this way. It's not gonna be an upgrade that they make. It's not gonna be a module that they have to buy. Because if they if you did it that way,   they wouldn't buy it. They're perfectly fine   living life just the way that they're living life right now because they think everything is fine. We know it's not, but most people don't realize that. They feel something's wrong, but they cannot put their finger on it. And you can lead a horse to to water, but if you wait for him to drink, you'll both die   of dehydration.  

So Hana makes a very good point.   Using Taproot assets, the Lightning Network, Bitcoin network,   and then I wanna I wanna just go ahead and fold in cashew and FEDAMENT   all into a nice little package.   These   very easily   interintegratable   features that we the set of tools that we have   is a lovely set of tools to build with.   And she's right.   If you get somebody using Bitcoin,   the network,   Lightning Network   as the network,   Cashew as the network, but they never know what it is that they're actually doing.   They don't have to see under the hood of how all this stuff works.   Well,   you've gotta you've gotta smash shit on your hands.  

And they're really are just one step away from becoming a Bitcoiner. And speaking of, moving on, Bitcoin OS secures $10,000,000   led by Greenfield Capital to unlock z k proof pro   z k proof   programmability   on the Bitcoin   main net.   Juan Galt, writing for Bitcoin Magazine, today, BOS announced a successful $10,000,000   fundraise.   BOS is an innovative Bitcoin operating system built around zero knowledge proofs,   a layer two protocol designed to unlock smart contracts for Bitcoin   such as interoperability   across blockchains,   potentially unlocking institutional value for DeFi while opening Bitcoin yield   opportunities   for traditional finance.  

Greenfield Capital led the strategic rounds with backing from other capital investors.   Funding will be primarily used to continue the momentum of technological   achievements to transform the Internet into a unified   international   economy of trust   built on Bitcoin, BOS said in a press release shared with Bitcoin Magazine.   Founding partner of Greenfield Capital,   Josh Schmadi,   said Bitcoin   OS's successful verification   of z k proofs directly on Bitcoin main net represents a fundamental breakthrough in blockchain infrastructure.   They've achieved   true Bitcoin programmability   without modifying the base protocol,   solving a challenge the industry has faced since Bitcoin's inception.  

This technology transforms Bitcoin from a store of value into the secure foundation layer for the entire digital asset ecosystem, end quote.   BOS CEO and cofounder,   Yidan Iago, affirms, quote, we are now in a very exciting time for Bitcoin, and this fundraising   will strongly contribute to its exponential growth. The confidence instilled in us from capital investors and Bitcoin focused funds is a testament   to the high demand   and strong market excitement in our achievements. We are proud to accelerate Bitcoin   and BTCFi.  

Oh, god. BTCFi   into true mainstream adoption   while maintaining the decentralized and trustless ethos it was founded upon.   I'm   getting more and more tired of seeing FI   tacked on to every word under the sun.   It's like, I got cats, but they're not CatFi.   You know? When I take them to the vet, I don't have to finance it with CatFi Incorporated.   It's becoming ridiculous. But BOS has achieved   a series of technical milestones   that have brought it recognition from industry players and investors, and highlights include an industry first,   bridgeless   cross chain asset transfer   and the launch of charms,   a protocol for programmable tokens on Bitcoin that leverages z k proofs to enable client side validation of transactions.  

BOS is also integrated with multiple ecosystems.   Oh, god. Notably and here it comes. Just   hold on to your stomachs.   BOS is integrated with multiple ecosystems,   Cardano,   Ethereum,   and Litecoin   to enable trustless Bitcoin bridging. Oh, god. I can't believe I got through that. Most recently, BOS introduced GRAILPRO,   an institutional grade protocol that allows BTC yield generation   while retaining self custody. Quote, this is currently in a pilot with key institutions   and custodians as GRAILO Pro aims to unlock $690,000,000   of institutional   BTC securely.  

Alright. Well, I don't care about that.   But   z k proofs,   that's that's been something that a lot of people   really wanted that   in especially around 2017   when when all the block size wars were going on,   one of the things that was talked about was   Zcash.   Why Zcash? Well, because they had ZK proofs.   A lot of the argumentation   was and still is,   we can just do that on on Bitcoin.   We don't really need Zcash.   And I won't even get into the fact that a whole bunch of people that I thought were solid Joes in Bitcoin are now Zcash heads on Twitter.   It's sad, but it's it's true. But I believe it's because they're being paid   to shill that shit. Other but other than that,   z k proofs.  

Z k roll ups, z k snarks, all these kinds of things,   they're valid tech.   And it can definitely be done on the blockchain, but the argument was, we'll do   we'd have to have a protocol change and nobody's gonna go for that. And the theory was, maybe not.   And it looks like these guys have proven that. Now   is it totally above board? I don't know.   Again, as always, we gotta wait and see. But,   I mean,   this story along with the story that we just read,   if this is true   and we can somehow or another keep the shitcoiners at bay,   this could this could be very, very good for Bitcoin.  

And I guess I should say that Trezor,   the wallet,   has unveiled   something called   Safe Seven,   a quantum   ready hardware wallet with an open source chip.   I   this is rather dubious.   Let's find out more from Atlas twenty one. During an event held in Prague, Trezor introduced the latest product, the Safe seven, priced   it €249.   Not probably worth it. But the device brings   several innovations   compared to previous models.   The safe seven is fully wireless, thanks to Bluetooth low energy connectivity.   Big   red   flag.   I don't want my hardware wallet connected to freaking Bluetooth.   Because it allows it to connect to any device,   including   iOS devices.  

The wallet features a 2.5 inch color touchscreen offering a 62% larger display, yada yada yada. But a central element   of the new product is the   Tropico   one   secure chip built on an open source architecture.   Another key feature is its, quote,   quantum   ready protection.   Both the bootloader   and authenticity   verification systems use   post quantum   algorithms,   the company stated.   Alongside the Tropico One chip, the device also includes a second   EAL six plus certified secure element that is NDA free.   That's all I need to know right here because   when they say   this wallet is quantum,   you know, quantum safe or rather quantum ready,   I think that a lot of people are going to mistake it   for   the all the news around the potential and forthcoming and and and obviously gonna happen   quantum attack on Bitcoin.  

There is a difference and I wanna be sure that that you understand what's going on.   Trezor is not making   Bitcoin's   e c d s a   signing algorithm   any safer.   That's the attack   surface.   When I roll my private keys up from, like, a brand new hardware wallet or or any number of other places that I can roll my private keys   to build a brand new Bitcoin wallet, it's using e c d s a. That is an algorithm, and it is, quote, unquote,   not quantum safe,   which means that if somebody can break my private key encryption using quantum technology,   then my Bitcoin can completely be absconded with because they would have complete access   to any Bitcoin that was inside that wallet.  

That is not what Trezor is saying.   Trezor is saying that this hardware wallet itself   is quantum ready, but it has no impact   on the private keys that have already been generated   by the ECDSA   algorithm.   So   please keep those two things separate   because I think that   all   all I see from Trezor right now is this.   It's quantum ready. It's it's the safe seven, and it's quantum ready. I   I would like them to make a statement saying that, you know, hey, this has nothing to do with with the Bitcoin private key, public key pair   generation,   algorithm.  

This is just about this wallet, but and I and I I kinda think that it's disingenuous.   I don't mean to say that. I'm not really trying to accuse anybody. But unless you make shit clear   to people,   especially   with all the quantum attack potential that   that every like, all the Bitcoin rags and all the shitcoin rags are like, oh my god. It's gonna happen. We're it's gonna be a quantum Hindenburg, and we're all gonna die and off the humanity. And   and then you come out with something that's quantum ready.   See how marketing works?   Nobody's really looking at, what do you mean by quantum ready?  

Right? Because it's not really at the forefront   of their marketing scheme, and it it it wouldn't do them well-to-do that anyway if if what they are about is making money, which is what they   that's what they are about.   But I just I think it's a little disingenuous   to just say, hey. Our Bitcoin wallet is quantum ready. And it's it's a it's also a shitcoin wallet too. It'll it'll hold, like, all kinds   of of garbage crap. But,   hey,   just be aware that that safe seven   is not going to somehow magically safeguard   your Bitcoin   against tomorrow's quantum attack.  

Right? And I'm I'm not even worried about the quantum attack.   We've got   we got a ways to go before we get there. Alright. So last up for the day, builders converge in Merida startup day, Yucatan 2025.   It's a recap from Bitcoin news.   Pleb Lab, the founder run Bitcoin accelerator based in Austin, Texas,   brought its sixth startup day program to Merida on October   in partnership with Yopaki.   The program drew national attention, including a televisa   segment,   I think they meant televised   segment, featuring   Francisco   Chavarria,   cofounder and CEO of Yopaki,   and live coverage from Reporte Indigo that kicked off Thursday's   session.  

Startup day Yucatan   gathered founders, developers, engineers, investors, and public sector leaders for two days of talks, demos, and on the ground merchant adoption across   Centro.   The director of economy and industry of Yucatan   participated   alongside local leaders,   programming centered,   at White Paper House, a new community space that will host ongoing builder activity in Merida.   Quote, startup day is a working sprint.   We want builders shipping, merchants trying new products and communities,   keeping value moving locally.   Merida showed up or Meredith showed up.  

White paper house gives this new momentum   a home.   So the program highlights was,   Yopaki deploying its new terminal product with local businesses   during the week and announced new partner initiatives. The products were tested throughout the event with immediate feedback from the community.   There was a Bitcoin startup announcement.   Shock Wallet introduced Clink, a Nostr native standard for secure self custodial lightning   interactions with no web servers.   Cascator announced work on CascadeOne   architecture,   a self custody evolution of its platform.   Runster   unveiled a new app featuring Zap challenges and peer to peer functionality.  

Feed Filter previewed its upcoming mobile app slated to ship around the holidays.   Pleb Lab co launched the worldwide Breeze Builder Challenge from the Yucatan   with follow ups planned during the November merge window and beyond in Austin.   And there were some talks let's see. Real time building on AI and Bitcoin,   unpacking the lightning builder playbook,   the anatomy of a Bitcoin hub was a different talk,   then there's Mexico and Latin and Bitcoin strategy. I would have loved to have gone to that one. And then a few other, with people like Carlos Peniche,   Lisa of those Lisa of Tokyo, Bitcoin based in Folgar Ventures. There was Raul with Signo. There's a lot of people here,   And it's interesting that it happened down in the Yucatan instead of Austin, Texas. And I think that that's really important   that Pleb Lab is reaching out there. So   hats off to the guys over at Pleb Lab. Y'all are some of my favorite people in the world.  

That is it for this day's episode of Bitcoin and it's in the can, brothers and sisters. So I'm gonna go ahead and let you go. I got other stuff to do. I will see you on the other side.   This has been Bitcoin and and I'm your host, David Bennett. I hope you enjoyed today's episode and hope to see you again real soon.   Have a great day.