Episode 1206 of Bitcoin And . . . is LIVE!
Topics for today:
Artisan pecan butter, date bars and chocolates
Website: https://www.oshigood.us/products
nostr Profile: https://primal.net/p/nprofile1qqswp94gnm4epqsgjkndl4lnd8krzdj5u4mzuppdtxksdymkty63g7gdurlfc
https://www.coindesk.com/markets/2025/11/07/strategy-adds-europe-to-capital-raising-efforts-securing-usd715m-in-newest-preferred-offering
https://atlas21.com/samson-mow-governments-will-want-bitcoin-because-its-valuable-just-as-they-did-with-gold/
https://bitcoinmagazine.com/news/kazakhstan-plans-1-billion-national-crypto
https://bitcoinnews.com/markets/blackrock-bitcoin-etf-australia/
https://decrypt.co/347781/google-threat-report-links-ai-powered-malware-to-dprk-crypto-theft
Get You're Free Comfrey Owner's Manual Here:
https://www.bitcoinandshow.com/the-comfrey-owners-manual-is-here/
Topics for today:
- Samouri Dev Get's Full Sentence
- Strategy Set For Europe Shakedown
- Kazakhstan's BTC Reserve
- Digital Viruses Evolve With AI
Circle P:
OshiArtisan pecan butter, date bars and chocolates
Website: https://www.oshigood.us/products
nostr Profile: https://primal.net/p/nprofile1qqswp94gnm4epqsgjkndl4lnd8krzdj5u4mzuppdtxksdymkty63g7gdurlfc
Today's Articles:
https://bitcoinmagazine.com/news/samourai-wallet-ceo-sentenced-five-yearshttps://www.coindesk.com/markets/2025/11/07/strategy-adds-europe-to-capital-raising-efforts-securing-usd715m-in-newest-preferred-offering
https://atlas21.com/samson-mow-governments-will-want-bitcoin-because-its-valuable-just-as-they-did-with-gold/
https://bitcoinmagazine.com/news/kazakhstan-plans-1-billion-national-crypto
https://bitcoinnews.com/markets/blackrock-bitcoin-etf-australia/
https://decrypt.co/347781/google-threat-report-links-ai-powered-malware-to-dprk-crypto-theft
Get You're Free Comfrey Owner's Manual Here:
https://www.bitcoinandshow.com/the-comfrey-owners-manual-is-here/
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[00:00:02]
David Bennett:
It is 10:33AM Pacific Standard Time. It's the, November 2025. This is episode 12 o six of Bitcoin. And, being that it's Friday, it's going to be a shorter show. Plus, honestly, I had to wade through a whole bunch of negativity and like black headlines and everything's grim and all that kind so that I could pick out stuff that, you know, actually makes sense. Things that that that have a real import as to what's going on with Bitcoin and the rest of the world as it, well, applies to Bitcoin. So I could really only dig out just a handful of, articles for you today, but again, I I'm just not interested in Bitcoins dead again.
XRP is, like, crushing everything because none of this shit is true. It's just I I've noticed see, this is one of the reasons why I always this is why you have the Bitcoin Ant podcast. Because before I started doing the podcast, I had wished that there was a podcast that would read me the news so that I could do other things, like, you know, work out in the yard or, you know, I don't know, when I'm driving to Colorado or something like that. Something I could listen to. But nothing existed. Right? So then, that's how the Bitcoin and podcast was born because I'm like, well, if you if this is what you wanted because you didn't wanna read all you know, you didn't wanna be the one to curate all this crap. You didn't wanna be the one, you know, to sit there and go, well, is this is this article full of shit? Is this headline even worth the read?
I do all this for you. The this is this is the heart of the Bitcoin and podcast and has been for seven years. And this and it it really boils down it or or rather, it really grows its wings on days like today. When you're looking around at all these news websites about Bitcoin and it's just nothing but it's either pure crap or it's it's sensationalism to try to get you to buy some altcoin or something like that. And I know exactly what I mean, I've been doing it for seven years. I can read a headline and go, that's bullshit. Now every once in a while, I'll accidentally slip something into the show because I did you know, either I didn't read it fully or or whatever, and then it ends up being crap. But, honestly, that happens very, very, very rarely.
Most of the time, the stories that I pick are as well as as cream of the crop of the news cycle of that day that you're going to find anywhere. Again, this is the the heart heart and soul of the Bitcoin and podcast is to find you the stories that are not hype. Don't try to get you to buy shit going shit coin. Don't pollute your soul with that everything's awful and everything's black and we're all gonna die. It's it's actual work, to tell you the truth. I mean, I started pretty much 6AM. After I grabbed my first cup of coffee, I sit down and I start scanning. I start looking. I start pulling out the bullshit and separating the chaff from the actual fruit of the loom. And while I don't have much today, I do have some interesting things.
We are, in fact, going to talk about Samura1 Wallet, and then we are, in fact, going to talk a little bit about MicroStrategy or, well, strategy. Because a couple of days ago, I told you about this push into, strategy pushing into Europe. Well, it's already done. I mean, like like, seventy two hours after I told you about it, it's a done deal. And then we're gonna visit Samson Moe, who actually was I think he was the first guy that I interviewed for this podcast. You know? It it it it was a long time ago, man. It was like it was the first year this podcast was up. It's way back in the archives. I I don't even know what episode number it was, but it's it's there. It's back there. So, Samson Moe is gonna come to the fore, and he will finish off the first half of the Bitcoin ad podcast. And when we come back, we're gonna go over Kazakhstan and then BlackRock.
Yes. BlackRock. And and to end it to end it all up, we talked about those idiot the idiot North Korean bankers this week. Well, North Korea I don't know what the hell's going on with North Korea. Maybe they're bored. I thought they were all starving, but they just keep putting their hands and fingers into all different kinds of pies, and that's gonna, do be the end of the Bitcoin and podcast for the day and for this week. But let's hit it with Mike Zimmerman of Bitcoin Magazine, samurai wallet CEO, sentenced to five years for operating an unlicensed Bitcoin mixing service.
Damn. He got the max. The government wanted the max, and the judge said, okay. You say jump, I'll say how high. A samurai wallet developer was sentenced on Thursday to five years in prison for operating a crypto mixing service, prosecutors say, laundered $237,000,000 in illicit funds. Let's already pause. He was not put into prison for operating a crypto mixing service. He was put into prison for writing code, which is protected free speech in The United States, guarded by the first amendment of the constitution of The United States.
That's why he was put into prison. His his
[00:06:26] Unknown:
how to say it? Him being led into a cell for sixty months
[00:06:33] David Bennett:
to burn literally, to burn away sixty months of his life that he'll never get back was because he did exactly what the first amendment allows us to do, have freedom of speech that is not impinged by government. It is a complete miscarriage, not only of justice as we always term it. Oh, it's a miscarriage of justice. This is a miscarriage of the Bill of Rights of the Constitution of The United States that if wasn't there, we would not have the Constitution of The United States, and therefore, we would not have a United States.
Nobody was gonna sign that fucking constitution the way it was written unless we had 10 guarantees of what the government could not do. The constitution of the bill of rights does not grant us the right of free speech. We already have that. The way if you look at the way the constitution, especially in the bill of rights part, is written, It does not grant us anything. It either defines what something is or says what the government cannot do. It cannot infringe on my right to carry arms. It cannot infringe on my right to associate with the people I want to associate with. It cannot fucking infringe on me being able to say whatever the fuck I want. And it doesn't matter if I say it, if I read it, if I think it, if I write it down,
[00:08:06] Unknown:
whether by pencil, pen, quill, or with a keyboard.
[00:08:13] David Bennett:
He was put into prison for exercising his first amendment right to not be interfered with while talking. This is the piece of shit, not only government that we have right now. This is endemic of the piece of shit citizenry that we have seen programmed around us. For every single person that you meet from hither and from now until hither and yon, however you wanna freaking say it. If anybody says he got what he deserved, that is the person that you cease talking to, you cease caring about as a human being, you cease being friends with. This is not the person you wanna be hanging out with.
This is a person that clearly, clearly doesn't understand he or she is next. I'm sorry. Was I ranting? Let's continue. Keanu Rodriguez or Keon Rodriguez, the CEO of Samurai Wallet, received the statutory maximum from US district judge, Denise Coate, of the Southern District Of New York following an hour long hearing in Manhattan, according to journalist Frank Korva. Fellow developer William Long and Hill, excuse me, the company's CTO, was scheduled to be sentenced on Friday. Rodriguez and Hill were arrested April 2024 and charged with conspiracy to commit money laundering and conspiracy to operate an unlicensed money transmitting business. After over a year of litigation, both plead guilty to the lesser unlicensed money transmitting charge in exchange for prosecutors dropping the very much more serious money laundering conspiracy charge, which carries a maximum of twenty years in prison.
Oh, so they were nice to them. Yeah. Great. Well, prosecutors said the pair operated samurai wallets crypto mixing service, Whirlpool and Ricochet to obscure the origins of criminal proceeds from drug trafficking, dark net marketplaces, cyber intrusions, fraud screams, and murder for hire operations. Whirlpool coordinated batches of Bitcoin exchanges between users. Oh, oh my god. The death of the children is upon us. Look at the piles of bodies because of oh, I don't know. Let's see. What what what did it say? What what what did it say? Oh, coordinating batches of Bitcoin exchanges between users. Think of the fucking children. Holy shit.
How many children died in that sentence? I I mean, the sheer blackness of the soul that would would allow Bitcoin exchanges between users. At one point or another, we're going to get tired of this, but I I I just don't see it happening anytime soon. I I really don't. We're just gonna allow ourselves to be walked on and and thrown in jail just because some idiot, you know, makes an Insta rule because, I don't know, they got pissed off at their son or something like that for spending too much money. Who knows? Who knows?
Because what's what's what's not illegal today will be illegal tomorrow. You know? What what used to be an infringement of constitutional rights, you know, is is now just completely fucking acceptable. But, I mean, again, you know, may maybe I'm being too harsh. All those poor children and the puppy dogs, and the cute little chipmunks and squirrels, and the entire ravenous folio of characters of Disney princess movies all died, you know, because coordinating batches of Bitcoin exchanges between users. Yeah. Yeah. Whatever. Ricochet introduced multiple intermediate transactions, God d'Or, or HOPS, to make tracing funds more difficult. From Ricochet's 2017 launch and Whirlpool's 2019 inception, more than 80,000 Bitcoin valued over $2,000,000,000 at the time passed through the services generating, my God, dollars 6,000,000 in fees. I'll bet they all bought heroin so that they could get the children at the elementary school hooked.
Because I'm sure that was the next thing they did, was to walk over to all the schools and then give them heroin so that they could get, you know, I don't know, take them to Hollywood and make sex films out of them. Because this is the hyperbole we're dealing with on a daily fucking basis. People could, I'm just, I would like to give you money. Oh my god. How many people have you killed because you gave me money? No, man. I just wanted a coffee. Oh my god. I can't believe you're using this particular service to trade your value for the value that I provide. If we have we have these three acceptable services to do that, but anything outside of that causes instadeath to the smallest and very cutest of children, those like Shirley Temple.
Court documents reveal that Rodriguez and Hill actively encouraged criminal use of samurai wallet. Rodriguez described the service as money laundering for Bitcoin, and Hill promoted Whirlpool on Dread, a dark net form, as a tool to make illicit funds untraceable. Following a 2020 social media hack, the pair tracked stolen funds in real time and publicly urged hackers to launder the proceeds through samurai wallet. Now I will pause to say that that's just dumb. I mean, yeah, exercise your freedom of speech, but don't say stupid shit. I mean, that's just that's just literally, that's just dumb. You are literally inviting the wolves to come to your door. So for those of you who are out there that think that, you know what? What who who's to say what money laundering is?
You know, like, I did not make this money by drugs, you know, by selling drugs to children. I did not make this, you know, mishandling any children whatsoever. I did not, you know, make this money by cashing in people's Social Security checks, nor did I what a but, like, somebody who's like, look, man. I got a tip the other day, you know, that that if I buy this stock, I'll get, like, 500 x. And then I did it, and I and I did. But I really don't wanna give the money to the United States government because they have they are the worst offenders at actually killing children just in other countries even though they do kill some here. I won't even get into that.
But but but that's money laundering. Now I don't I didn't want any of my tax dollars being used to buy bombs to go bomb the brown children over there in Iraq and Iran and Pakistan and Afghanistan and Libya and where wherever the hell we are at this point. I didn't want any of that. I mean, I feel ethically dirty that I have allowed that shit to happen, that the money that I was able to either procure or produce was used to actually commit war crimes. From an ethical and moral standpoint, I feel very, very small. Very, very small.
You know? So, you know, from that standpoint, what is money laundering? Is it really money laundering because I wanna keep the money that I made without hurting another soul on the planet away from people who are full hell bent on doing so on a daily basis? In my opinion, nah. That's that's actually my moral duty is to keep power out of the hands of those that misuse it. And our tax system is hell bent and purpose built to do exactly that, to take my money and turn it into the most evil black candle at the blackest of masses that you can ever have and do the most heinous shit with it.
But I'd still have to say that when they're on these dark when they're on these forums, when when Hill and and Rodriguez are are saying shit like, yeah, man. We're gonna make this shit untraceable. You are literally inviting the wolves to your door. Don't don't please don't do that. So these guys are, like, Rodriguez's host for five years. Right? Plus all the time that he's already spent in prison, this is already I think we're two and a half years out. Now he's got another five to go. And he's gotta pay $250,000, which I actually thought was you know, I figured that they would have gone for, like, I don't know, 2,500,000.0.
I'm I'm actually shocked that they only want 250,000. They've already got $6,000,000 of, I I guess, their money or maybe just Rodriguez's money. So I'm but I'm still very shocked that it's only $250,000. Still, sixty months of your life being burned to ash inside of a place like a United States federal penitentiary. And Hill is gonna get the same. He's not gonna escape. They this judge gave it to Rodriguez. She is gonna pound it to Hill too. It's sad. I don't like seeing it. And this is why I will always continue to say, if you are a Bitcoin developer hell, a develop a developer for anything, even if it is a shitcoin, I don't care.
If you're developing
[00:18:04] Unknown:
anything in this space, stop using your own name. You don't have to. It's not required. Don't do it. Don't give your address. Don't show up at at meetings,
[00:18:22] David Bennett:
you know, and say, hey. I'm the developer of of Whirlpool. Don't do that. If you wanna show up at Bitcoin, you know, the Bitcoin magazine's Bitcoin conference in Miami or wherever the hell is gonna be next year, here, try this. Don't tell anybody what you're up to. Just enjoy just enjoy meeting people. Have a beer. Go, you know, beach fishing. I don't know. But don't tell people that you're designing a piece of software that will allow somebody to remain untraceable to governments around the world. Don't do that. Not that hard. Don't do that.
Now Michael Saylor and strategy, this is strategy adds Europe to their capital raising efforts, securing $715,000,000 in their newest preferred offering, James Van Stratten. How is the virus spreading, James? And this is out of CoinDesk. Michael Saylor and team at Strategy have officially expanded across the pond as they seek to tap new funding markets in their quest to acquire even more Bitcoin. At least they know what they're doing. The largest publicly traded company holding Bitcoin strategy priced its initial public offering at 7,750,000.00 shares of 10% series a perpetual stream preferred stock, or the ticker symbol is s t r e, at €80 per share.
7,700,000.0 yielding 7,750,000.00 shares yielding 10% at €80 a share. Holy crap, dude. The sale expected to close November 13 will generate approximately €620,000,000 or 715,000,000 US dollars in gross proceeds per a Friday press release with the company. The company will mostly acquire additional Bitcoin with it. The STRE stock carries a 10% annual dividend yield. Remember? Yield. Where does the yield come from? On its €100 stated value payable quarterly beginning December 31 when declared by the board. Unpaid dividends will accrue interest at an initial rate of 11%, rising 1% per quarter up to 18% until paid.
Oh, well, that's an interesting structure. Strategy is already the holder of 641,205 Bitcoin worth roughly 64,100,000,000.0 at BTC's current prices of about 100,000 a coin. In addition to recent declines in the price of Bitcoin, the premium at which investors are pricing Strategy's common stock to the value of its Bitcoin has been rapidly contracting. This crimps the company's ability to raise money via common stock sales, making these preferred issuances a favored avenue should the company want to continue to accumulate BTC. And then they talk about share prices of of strategy. I honestly don't care. I don't own any. If you wanna know, it's $225 a share for strategy right now.
They were not supposed to be printing any more common shares until until, like, what, last month or the month before, Sailor changed that rule. It was a rule. They were literally had written themselves a rule. We cannot we cannot, print more common stock. And then people stopped by you know, there was a kind of a they didn't stop, but there was kind of like a lull in the amount of these preferred debt vehicles that they were able to sell. And then lo and behold, Sailor comes out, says rule change. To me, that's also insta rule. You know, it's like the drunk girl, you know, playing spin the bottle and say, no, you can't do that or something. And then everybody else is like, what? That's not the that's an Insta rule, honey. You can't do that shit. Anyway, Insta rule. And all of a sudden, what happens? Well, you print more shares than the people that already own shares of your stock get what's called diluted.
That's another way of of of illustrating what happens to people that hold US dollars while the United States government is printing more US dollars. We call it inflation. In the world of stocks and bonds, it's called dilution. Alright? So just think of it that way. Anyway, this looks like their maneuvering into Europe is going to be wildly successful. And now instead of instead of grabbing the money out of the pockets of United States citizens, they're gonna go scavenge over in Europe. And I'm like, more power to you. You take all of you take every bit of that shit over there. Let's just go ahead and and and clean house. You know? Because Europe is in a not in a good spot right now. The European Union in itself is not in a good spot.
I don't expect the European Union to survive the next five to ten years, but we'll we'll have to see, obviously. Okay. Oshie. Oshie good .us. Dude, Circle p is open for businesses where I bring plebs with goods and services that are just like you to plebs just like you who wanna buy those goods and services, but you're buying in Bitcoin. Because if you ain't selling in Bitcoin, you ain't in the circle p. It's the only value for value advertising model anywhere on the Internet, anywhere in Bitcoin, anywhere, anywhere, anywhere, anywhere. I'm the only one that does it. There's probably a reason for it, but I like shining the light on pleb vendors like Oshigood. Oshigood is awesome. He makes this freaking fabulous it's like you think of it as peanut butter, but it's not. Right? But but first of all, keep capturing your mind a jar of creamy, beautiful peanut butter, except it's made with pecans.
No peanuts anywhere close to this thing. Here's the ingredients. Pecans, maple sugar not not maple syrup. Maple sugar. You remember Christmas? Like, back in the day, seventies, eighties, you had a little pack and it had, like, these little maple leaves and they looked brown and they really thick, and they were made out of sugar and it was freaking delicious even though it you know, pure sugar. Well, I mean, sugar sugar is gonna do its thing. That's maple sugar. That's maple sugar. It's not maple syrup he's making this with. It's pecans, maple sugar, sea salt flakes, cinnamon and black pepper.
Dude, sea salt flakes. Why the hell would you put salt in here to balance the sweetness? This guy knows what he's doing. He's he's able to play with flavors, But, like, maple, you get the maple, but you get so much sweetness in it. And you've already got some sugar and some sweetness out of the pecans. You gotta pull some of that sweetness back. And the best way to do that is salt. It's amazing the what you can do with flavors, and Oshi has got it freaking nailed. This stuff is delicious. It's absolutely gorgeous. I can't keep it I I like, I wasn't able to keep a jar of this stuff in the house for, like, longer than a week before my wife basically just crushed it on, like, on on, like, toast.
Right? It was it it's amazing. But it's cinnamon and black pepper gives it that get that extra little push over the cliff. So if you want some of this stuff and you wanna buy it in Bitcoin, you're gonna go to oshigood.us. That's oshigood.us. Use Bitcoin and in the coupon code. That lets Oshi know that I made a sale. If I made a sale, he gets me back on the other side with Bitcoin. It's like I said, it's value for value advertising.
[00:26:28] Unknown:
The only way Oshi knows I made a sale is if you use coupon code Bitcoin and Samson Moe. Samson Moe. He's been in the he's been in this game
[00:26:42] David Bennett:
a hell of a lot longer than I have. He's OG. So and you may not like him, and you may love him. You may not even know who the hell he is, but let's let's see what he's saying here. Atlas21.com bringing it to us. Samson Moe says, quote, governments will want Bitcoin because it's valuable just as they did with gold, end quote. This is an interview conducted with Samson Moe from Atlas twenty one. And the first question in the interview is, why did you decide to found Jan three? Now that's Samson Moe's outfit. Right? I found a Jan three so that there would be a group focused on bringing nations to adopt Bitcoin, implement Bitcoin strategies, and create Bitcoin bonds to accelerate hyper Bitcoinization.
What activities does Jan three, concretely carry out? Jan three does many different activities. I would say we are best known for adoption by nation states, engagement with countries, politicians, and governments. But we have also developed Aqua Wallet. It's a Bitcoin wallet based on liquid, which allows you to exchange between on chain Bitcoin, layer two, and pay through the Lightning Network. But we also support USDT, or Tether, on the liquid network, and it's possible to swap from liquid USDT to other blockchains. In which countries is Aqua Wallet most used?
It's difficult. I'm not sure at the moment, but I think our two largest countries are Argentina and Brazil. As a Bitcoiner, don't you think it's contradictory to help governments adopt Bitcoin? Oh, that's a good question. Quote, I think the thing people need to understand is that governments will always have money because they have power, and they will always want what is valuable. So if we look at gold as an example, it's not that a government suddenly declared that gold was valuable and then gold grew to a market cap of $20,000,000,000,000. People decided that gold was valuable, and then governments, of course, got gold.
And I don't think it's reasonable for people to assume that they can deny a government gold reserve back then. It's the same for Bitcoin. They want Bitcoin because it's valuable. It's suddenly if if sorry. If suddenly tomorrow bottle caps were valuable, governments would want bottle caps too. But I I think what we're doing is teaching them more about Bitcoin and more about the ethos and philosophy behind it and why. And I think, ultimately, this will have positive effects because they will understand Bitcoin at a deeper level, and they will be more favorable to passing legislation that strengthens people's sovereignty and autonomy rather than invading them because they themselves have Bitcoin.
They will know what Bitcoin is and will appreciate Bitcoin. Bitcoin or stablecoins? Which is used more at the moment? It depends on what your definition of use more is. I would say that today, Bitcoin is used more as an asset than as transactional money. But we are seeing growth of Bitcoin used as money also thanks to layer two. Stablecoins are also widely used. Tether now has about 500,000,000 users, and this is because people are looking for dollars that they can transact with and save since their fiat currencies are, you know, well, collapsing. So I would say it's somewhat balanced at the moment. And Bitcoin obviously tends more to be an asset class because of treasury companies and ETFs at the moment.
But the net feeling is that Bitcoin will win in the end because the Fiat system will stop being useful at some point, and everyone will only use Bitcoin. So how does the Dolphin card work? Pausing to tell you, I've I don't know what the Dolphin card is. Let's see what Samson says. Quote, the Dolphin card is simply a prepaid Visa card. Oh, this one. Okay. Okay. You can top it up with Bitcoin, with liquid Bitcoin, or with liquid USDT. And I think privacy is its most important feature since it supports liquid USDT and liquid Bitcoin.
It's possible to make confidential transactions that protect your data and your balance. Has Jan three already achieved concrete results in working with governments? Quote, I would say no because we haven't yet brought a country to do something significant. Even El Salvador never launched the Bitcoin bonds, but we are in negotiations with some countries to do bitcoin bonds so I think it's just a matter of time getting a country to pass a bitcoin law is more difficult actually we have achieved something We have helped Prospera with their Bitcoin law.
Prospera is a free private city in the Honduras, but in terms of a large country, not yet. Is Jan three's business model sustainable? Quote, our business is the Aqua Wallet, the nation state's initiative we're doing because we believe in the mission. Aqua recently surpassed $250,000,000 in swap volume and also the Dolphin card. I think we've surpassed $350,000,000 in spending anyway. And it was only launched just a few weeks ago. So I think Jan three's business model is quite sustainable. Which country is the most promising country for Bitcoin adoption?
Quote, I think The United States really needs Bitcoin at this point. Their debt is growing at an exponential rate. They've surpassed $38,000,000,000,000 in debt now, and I think this is largely why they're looking at Bitcoin. They want to be a dominant player in the stable coin market, and they want to have Bitcoin. But on the other hand, it's a necessity for them. They need Bitcoin because no one is buying their debt anymore. And stablecoin issuers are becoming the largest holders of US treasury. End quote. And that is the end of the interview. I'd let that last one sink in.
But there's Sampson Moe in his own words. Let's run the numbers. CNBC futures and commodities. Woo. Got some green in the oil markets today. Brent Norsey is up a third. West Texas Intermediate is up almost a half to $59.70 a barrel. Natural gas swinging for the other team. 1.15 to the downside, but still at $4.30 per thousand cubic feet. Gasoline down a point to a buck 94 a gallon, while Murbaughn Crude increasing in value by point 8% to $65.81. Shiny Metal Rock's having a good day. Gold back above, 4,000 today to $4,013. Palladium up one and a third.
Platinum is up point six four. Silver is up point four two. And copper is the only in the red, point one seven to the downside. Ag looks fully mixed to me, a little bit more on the red side though. Biggest winner is gonna be coffee, two and a half to the upside. Biggest loser is chocolate, 2.22% to the downside. Live cattle, oh, rebounding today, 1.22 in the green, percentage points that is. Lean hogs up almost a full point, and feeder cattle up 1.28. S and P is down point 67%. Nasdaq is down one and a quarter. Dow is down point 4%. The only thing doing well is the S and P Mini. It's in the green point 16%.
And then Bitcoin, it's dead. We're all gonna die. Bring in the funeral pyre. A $102,500. You see, didn't that sound just a little silly? You know, like, I mean, I remember a couple years ago, was it $33,000? I'm bitching about 102,500. Wow. Maybe I should get my head checked. Alright. $2,040,000,000,000 is market cap. We can purchase 25.6 ounces of shiny metal rocks with our one Bitcoin, of which there are 19,945,532.41 of. An average fees per block are high. 0.03 BTC taken in fees on a per block basis. Looks to be about 25 blocks carrying 54,000 unconfirmed transactions waiting to clear at high priority rates of three sets per v byte. Low priority is gonna get you in at one.
And Zeta Hash territory continues. Row of sticks, 1.11 Zeta Hash per second is the amount of security on the Bitcoin network. I feel secure. You should feel secure. We're doing good. From Chicken Hawkish, yesterday's episode of Bitcoin, and I got Psyduck with 764 Psyduck. Bubba with Bubba got the rush boost, baby, $21.12. If you don't know what I'm referring to, I can't help you. Bubba says, I'm gonna open my own bank back by backed by golden pig shit and a church backed by bourbon. Both will be named the church and bank of blissful sedation. Trust me, I know nothing and everything.
I'm a dangerous man. Thank you. How you doing, David? Bubba, I'm doing just fine. You're my favorite trucker. Bubba, if you did not know, Bubba either has driven and then retired from, I think, not once but twice trucking and I think he's actually now back in in the big rigs trucking again. I love how he says I'm a dangerous man. I think he's actually referring to a song from Warren Zevin. If you don't know what song I'm referring to, it's too bad because it's probably one of the best songs ever written in the world. Tulips with 500 says tulips, breaking news. Billionaire Michael Saylor goes bankrupt throwing expensive parties every time Bitcoin goes above a 100,000.
Trump claims not to know who CZ is. My guess is that they know how influential Binance is for stablecoins to flow, and they are just lubing each other's hands. In other words in other news, I hate bitcoin.com. These motherfuckers threw me for a ride with all that false information when I started learning about bitcoin. Yeah. No. You ain't the only one, brother. They really do prey on the stupid and or misinformed me on both cases. They should just accept that their Bitcoin shitcoin is just tulips and already went to zero. Yeah. I know, man. Bitcoin.com is a sad it's a sad story.
It really is. But, you know, Bitcoin magazine was a sad story when, you know, it turned into a basically a shitcoin magazine, and then David Bailey rescued it, and now it looks like it may fall into disrepair again. Who I don't know. I mean, I it's just a a sheer gut feeling, but I brought you that news that David Bailey was gonna fold the Bitcoin conference, Bitcoin magazine, and and something else. I can't remember what it was. All into Nakamoto, which is which is at this point, guys, it's an abject failure. Nakamoto is an abject failure.
It's like b cash. Right? And now he wants to take what what is actually profitable and then use it to bolster the losses on Nakamoto by folding it into Nakamoto. This is not a good business plan. This is not this is I mean, sure, he's got a lot more money than I do, but this is still not a good business plan. You do not rob Peter to pay Paul. I you just you just don't do it. KT with 500 says, you should bring the monocle and top hat anyway. I probably should. Read. Wow. Holy shit. 21,000 sat says meet up announcement. Western Massachusetts Bitcoin meet up this Sunday. It's called Western Mass Bitcoin meet up. It's Sunday, November 9 at 6PM at Peppa's Pizza in East Longmeadow, RSVP at westernmassbitcoin.com.
That's western mass, m a s s, bitcoin.com. It's all one word. Westernmassbitcoin.com. Also, seriously, ask yourself, if you listen to Bitcoin and and you are within driving distance of Western Mass, how have you not come to our meetup yet? Come join us. Cheers. Pies with a 121 says, thank you, sir. No, thank you. Bitcoin for president with 500 says, you demand. Thank you for the show. I always enjoy them. Yeah. You probably enjoy this one too, pal. That's it. Okay. By the way, to read. Sir, thank you so much for the 21,000 sats.
November 9, that's this Sunday. If you're anywhere close to Western Massachusetts, then go to Peppa's Pizza in East Longmeadow. You need to RSVP at westernmassbitcoin.com. That's the weather report. Welcome to part two of the news that you can use off to Kazakhstan, where they plan a $1,000,000,000 national Bitcoin and crypto reserve fund. This has been this this been a rumor. Let's see if this is any closer to reality. Who knows? Micah Zimmerman, Bitcoin Magazine. Kazakhstan is preparing to establish a national cryptocurrency reserve fund worth somewhere between 500,000,000 and $1,000,000,000.
The fund will be seeded with assets seized or repatriated from abroad. Central bank governor, Timur Samov, said in London this week that the fund will invest very carefully through regulated instruments such as exchange traded funds and shares of companies involved in digital finance rather than holding cryptocurrencies like Bitcoin directly. And you've already lost. Just saying. I mean, let's just be clear about this. Whatever, dude. The initiative slated for launch by early twenty twenty six represents Kazakhstan's most concrete move yet to institutionalize its crypto strategy after years of experimenting with mining and tightening control over private operations. Yeah. You'll probably have to be institutionalized anyway.
Officials said that the program will be managed under the Astana International Financial Center, which is the country's fintech hub and may eventually include foreign investment partners. Plans for state run crypto funds first surfaced in 2024 when the country's agency for financial monitoring proposed consolidating confiscated wallets and mined tokens into a national reserve. You know, let's pause here for a second. What is it about this asset, Bitcoin in general, but, you know, digital other crypto shit coin, whatever, you know, as well, what is it about this asset class that has caused this? Have I mean, think about it.
Have you ever heard a country say, you know, we wanna start a gold reserve, but we're only gonna use gold that we've confiscated while we've been fry fighting crime like McGruff, the crime dog. Right? We certainly certainly didn't, like, you know, say, hey, you know, we're just gonna we're gonna create this national silver reserve with all this silver that we confiscated from something something something. No. No. It's you I mean, and and, like, hey. Well, we you know, we've confiscated a shit ton of cocaine. I know that we actually, you know, contracted with these guys to actually build you know, make the cocaine and fly it over here from Colombia.
If you are doubting me, please see US Air. Not the movie. Just, like, literally US Air. It was it was or was it like a what was the name of that thing? Hold on for a sec. I I I now I gotta look. Air America. That's what I was thinking of. It's called Air America, Please. Look it up. CIA. Anyway, what is it about this asset class that causes the the the first response to anybody is less confiscated and build a reserve out of it? Because, honestly, this is like, I don't think that this has ever really happened. Yeah. Real I I I if I'm wrong about this, if you can find me an example of any country in the history of countries that have expressly made, you know, a a lot of noise about building a reserve out of a particular asset class, but only starting with that asset class and and or or items that match that asset class that's been confiscated through crime.
Because I don't think it's I don't think it's happened. I think that's odd. It just it just dawned on me that that shit's been going on. I'm sorry. Anyway, I'm I'm going way outside way outside where I normally would go anyway. The US Cryptos Reserve, which is created under a March 2025 executive order, serves as a strategic stockpile for government owned digital assets, mainly Bitcoin, also acquired through forfeiture proceedings. Rather than purchasing new cryptocurrencies with taxpayer funds, the initiative focuses, on managing these existing holdings to support national interest and strengthen America's leadership in the digital asset space.
For decades, however, Kazakhstan's economy has pretty much relied heavily on oil exports, leaving it pretty damn vulnerable to commodity cycles. President Qasim Zhemat Tkayev had championed economic reforms to reduce that dependence on oil and push the nation towards technology, innovation, and digital finance. The crypto reserve fund aligns with that vision by focusing on ETFs and blockchain linked equities.
[00:46:41] Unknown:
Oh, god. These people.
[00:46:43] David Bennett:
The central bank hopes hopes to gain exposure to Bitcoin's upside while avoiding the custodial and volatility risks of holding the tokens outright. The fund also dovetails with broader ambitions to turn Kazakhstan into Central Asia's leading fintech center, the government's flagship, Aleutau CryptoCity project envisioned as a testing ground for blockchain startups and crypto based payments, will complement the reserve fund. So I guess they're gonna build a city that is a planned city for for cryptocurrency. Planned cities are always bad.
Having a themed planned city is just is just clown show level. Right? Seriously, stop stop doing shit like that. Everything about humanity is like everything about nature because we are natural. Humans are not aliens that drifted down from the sky, you know, or or transported to the surface. Right? No. We are part of the natural evolution of the planet. It is natural evolution. It's an organic thing. When you try to plan something, dude, have you ever been to a planned city? Don't. Just don't. It's it's not worth your time. Moving on to Australia where BlackRock is digging its nails in. They're gonna launch their own Bitcoin ETF just for Australia.
Bitcoin News, Eric Slattery. BlackRock, the world's largest asset managers reportedly getting ready to bring its popular iShares Bitcoin ETF to Australia, making or marking another step in the firm's global digital asset strategy. BlackRock Bitcoin ETF will be listed on the Australian Securities Exchange by mid November of this year, so this month, here in about a week and a half, I guess, offering local investors a simple and regulated way to gain exposure to Bitcoin without directly owning the asset because, god forbid, we should take responsibility for our own shit. But whatever. The debut of BlackRock's Bitcoin ETF in Australia comes after iBit's remarkable success in The United States.
BlackRock recently expanded its Bitcoin ETF offerings by launching similar products on the London Stock Exchange as well as the Swiss Stock Exchange. According to Tamara Staats, director of institutional client business at BlackRock Australia, The move demonstrates BlackRock's continued commitment to innovation. Wait. How's it innovative to sell the same product just in a couple of different countries? That's not innovation, that's market share. Dude, whatever. Alright. Screw them. They're they're gonna sell it down under. That's that's not innovation. We don't need any more about this story. But we probably do want to look at this one.
Google's threat report links AI powered malware to North Korean crypto thefts. This is out of decrypt written by Vince D'Aquino. Google warned that several new malware families are using large language models during execution to modify or generate code, marking a new phase in how state linked and criminal actors are deploying artificial intelligence in live operations. In a report released this week, the Google Threat Intelligence Group said, it has tracked at least five distinct strains of AI enabled malware, some of which have already been used in ongoing and active attacks.
This newly identified malware or these families, they dynamically generate malicious scripts and obfuscate their own code to evade detection while also making use of AI models to create malicious functions on demand instead of having those hard coded into malware packages, the threat intelligence group stated. Each variant leverages an external model such as Gemini or Quinn 2.5 coder during run time to generate or obfuscate code, a method g t I g has dubbed, quote, just in time code creation. Oh, god. This is bad. The technique represents a shift from traditional malware design where malware logic is typically hard coded into the binary.
By outsourcing parts of its functionality to an AI model, the malware can now continuously make changes to harden itself against systems designed to deter it. Two of the malware families, Prompt Flux and Prompt Steel, demonstrate how attackers are integrating AI models directly into their operations. GTIG's technical brief describes how Prompt Flux runs a thinking robot process that calls Gemini's API every hour to rewrite its own v b v b script code while prompt steal, which is linked to Russia's apt twenty eight group, uses the Quinn model hosted on Hugging Face to generate Windows commands on demand.
The group also identified activity from a North Korean group known as UNC ten sixty nine that misused Gemini. Google's research unit describes the group as a North Korean threat actor known to conduct cryptocurrency theft campaigns leveraging social engineering with notable use of language related to computer maintenance and credential harvesting, end quote. Per Google, the group's queries to Gemini include instructions for locating wallet application data, generating scripts to access encrypted storage, and composing multilingual phishing content aimed at crypto exchange employees.
These activities, the report added, appears to be part of a broader attempt to build code capable of stealing digital assets. Google said it had already disabled the accounts tied to these activities and introduced new safeguards to limit model abuse, including refined prompt filters and tighter monitoring of API access. The findings could point to a new attack surface where malware queries LLMs at runtime to locate wallet storage, generate bespoke exfiltration scripts, and craft highly credible phishing lures. Decrypt approached Google, but have yet to receive a response.
What does it all mean? Back in the day before AI, if you got I don't know. If a virus infiltrated your computer, it that virus, the code behind it, what it was, you know, what it was able to do, like all like, you know, basically, whatever it would be able to do to whatever extent that you can imagine was contained in what's called a static coding or rather hard coded. What does that mean? It means that coding doesn't change. I write the code once, I put it in a nice little box with a pretty little bow, and I hand it to you. Boom. Your computer's infected. But I can't get back into that box and change that code. But now I can.
Because now when I write the virus, I install something that allows it to call out and use a l l m, a large language model, maybe a general language model, whatever however it is that you wanna see it. But like something like Claude or, you know, or in this case, Quinn, two point, you know, 2.5, all those things. And then it has the ability to rewrite its own code. So if it's found out by, let's say,
[00:54:57] Unknown:
antivirus software, pick your favorite. It rewrites itself on the fly. Now it looks different. So now so now here's what's gonna happen.
[00:55:11] David Bennett:
AI powered antivirus software brought to you by McAfee and Kapersnik or whatever the I can't remember the name of the Russian version of it Or or CC cleaner. Right? You know? Or any of the other antivirus shit. But now it's gonna be AI to combat AI generated viruses. But except those viruses carry the the ability to use AI within them live real time. It's not like they say, okay, buddy. This one didn't work. Let me send an email back or however that communicates back to my current author so that he can use AI to write another one. No. I I literally release it into the wild and it mutates itself on the fly in real time given certain environmental pressures like coming up against malware detection.
This is a lot more like biology than it is computer science, And this makes it very fucking dangerous. Very fucking dangerous indeed. There's nothing more dangerous on this planet than the living creatures upon it. But be that plant, mammal, insect, I don't give a shit. The most dangerous thing on this planet are the living creatures upon it. Why? Because they can change in accordance with their environment in almost real time. This is even faster. Do not keep hot wallets. Do not use shit like MetaMask. Just at this point, just presume all your shit is already hosed. If you're using the Internet, if you're using, like, browser wallets, all of it, kiss it goodbye. The only thing that's gonna make sense is being able to do something like get a cold card from CoinKite, generate a Bitcoin wallet address, generate your private and public keys right there, and do not do not do not use, like, a hot wallet that is in your browser.
Don't do it. Because it's not going to be able to handle the onslaught of what is to come. This Google report, honestly, should permanently raise the hackles on the back of your neck. In fact, at this point, you should just go break out the clippers and just shave the hair on the back of your neck straight the fuck off because if you don't, it's gonna feel really weird under the collar of any shirt you wear because that shit ain't never going down if you've reacted to this news in the proper way that gives it the proper respect. This shit is bad. A virus being able to change its physiology, its digital physiology on the fly, given environmental pressures, should scare the piss out of just about anybody.
I should've seen it coming. I just I just it just there there's so much more about AI and its potential that we don't know. What sucks is the people that get a hold of tools, instead of getting a hold of a hammer and building a house, instead of that being their first instinct, is they want to crush somebody's skull in. I you know, maybe maybe the globalists are right. Maybe we shouldn't have humans. We keep screwing things up. We we haven't built anything beautiful in centuries. We haven't had a global breathtaking moment since, like, the space race in the fifties and sixties.
It's just been one freaking McDonald's, you know, architectural ugliness after another after strip mall after strip mall after strip mall, and pavement upon pavement upon pavement, and churches that are in metal barns, and it's just
[00:59:18] Unknown:
sad. It's just sad. We're better than this. We can be so much better than this. But right now, it just looks like we're I don't know. It just looks it looks pretty dark. I still have hope. But right now, it looks dark. This is not the first time I've seen this. Look up nineteen seventies. It was shit looked pretty dark back then too. We got through that one. We'll get through this one. And when we do, I'll see you on the other side. This has been Bitcoin and and I'm your host, David Bennett. I hope you enjoyed today's episode and hope to see you again real soon. Have a great day.
It is 10:33AM Pacific Standard Time. It's the, November 2025. This is episode 12 o six of Bitcoin. And, being that it's Friday, it's going to be a shorter show. Plus, honestly, I had to wade through a whole bunch of negativity and like black headlines and everything's grim and all that kind so that I could pick out stuff that, you know, actually makes sense. Things that that that have a real import as to what's going on with Bitcoin and the rest of the world as it, well, applies to Bitcoin. So I could really only dig out just a handful of, articles for you today, but again, I I'm just not interested in Bitcoins dead again.
XRP is, like, crushing everything because none of this shit is true. It's just I I've noticed see, this is one of the reasons why I always this is why you have the Bitcoin Ant podcast. Because before I started doing the podcast, I had wished that there was a podcast that would read me the news so that I could do other things, like, you know, work out in the yard or, you know, I don't know, when I'm driving to Colorado or something like that. Something I could listen to. But nothing existed. Right? So then, that's how the Bitcoin and podcast was born because I'm like, well, if you if this is what you wanted because you didn't wanna read all you know, you didn't wanna be the one to curate all this crap. You didn't wanna be the one, you know, to sit there and go, well, is this is this article full of shit? Is this headline even worth the read?
I do all this for you. The this is this is the heart of the Bitcoin and podcast and has been for seven years. And this and it it really boils down it or or rather, it really grows its wings on days like today. When you're looking around at all these news websites about Bitcoin and it's just nothing but it's either pure crap or it's it's sensationalism to try to get you to buy some altcoin or something like that. And I know exactly what I mean, I've been doing it for seven years. I can read a headline and go, that's bullshit. Now every once in a while, I'll accidentally slip something into the show because I did you know, either I didn't read it fully or or whatever, and then it ends up being crap. But, honestly, that happens very, very, very rarely.
Most of the time, the stories that I pick are as well as as cream of the crop of the news cycle of that day that you're going to find anywhere. Again, this is the the heart heart and soul of the Bitcoin and podcast is to find you the stories that are not hype. Don't try to get you to buy shit going shit coin. Don't pollute your soul with that everything's awful and everything's black and we're all gonna die. It's it's actual work, to tell you the truth. I mean, I started pretty much 6AM. After I grabbed my first cup of coffee, I sit down and I start scanning. I start looking. I start pulling out the bullshit and separating the chaff from the actual fruit of the loom. And while I don't have much today, I do have some interesting things.
We are, in fact, going to talk about Samura1 Wallet, and then we are, in fact, going to talk a little bit about MicroStrategy or, well, strategy. Because a couple of days ago, I told you about this push into, strategy pushing into Europe. Well, it's already done. I mean, like like, seventy two hours after I told you about it, it's a done deal. And then we're gonna visit Samson Moe, who actually was I think he was the first guy that I interviewed for this podcast. You know? It it it it was a long time ago, man. It was like it was the first year this podcast was up. It's way back in the archives. I I don't even know what episode number it was, but it's it's there. It's back there. So, Samson Moe is gonna come to the fore, and he will finish off the first half of the Bitcoin ad podcast. And when we come back, we're gonna go over Kazakhstan and then BlackRock.
Yes. BlackRock. And and to end it to end it all up, we talked about those idiot the idiot North Korean bankers this week. Well, North Korea I don't know what the hell's going on with North Korea. Maybe they're bored. I thought they were all starving, but they just keep putting their hands and fingers into all different kinds of pies, and that's gonna, do be the end of the Bitcoin and podcast for the day and for this week. But let's hit it with Mike Zimmerman of Bitcoin Magazine, samurai wallet CEO, sentenced to five years for operating an unlicensed Bitcoin mixing service.
Damn. He got the max. The government wanted the max, and the judge said, okay. You say jump, I'll say how high. A samurai wallet developer was sentenced on Thursday to five years in prison for operating a crypto mixing service, prosecutors say, laundered $237,000,000 in illicit funds. Let's already pause. He was not put into prison for operating a crypto mixing service. He was put into prison for writing code, which is protected free speech in The United States, guarded by the first amendment of the constitution of The United States.
That's why he was put into prison. His his
[00:06:26] Unknown:
how to say it? Him being led into a cell for sixty months
[00:06:33] David Bennett:
to burn literally, to burn away sixty months of his life that he'll never get back was because he did exactly what the first amendment allows us to do, have freedom of speech that is not impinged by government. It is a complete miscarriage, not only of justice as we always term it. Oh, it's a miscarriage of justice. This is a miscarriage of the Bill of Rights of the Constitution of The United States that if wasn't there, we would not have the Constitution of The United States, and therefore, we would not have a United States.
Nobody was gonna sign that fucking constitution the way it was written unless we had 10 guarantees of what the government could not do. The constitution of the bill of rights does not grant us the right of free speech. We already have that. The way if you look at the way the constitution, especially in the bill of rights part, is written, It does not grant us anything. It either defines what something is or says what the government cannot do. It cannot infringe on my right to carry arms. It cannot infringe on my right to associate with the people I want to associate with. It cannot fucking infringe on me being able to say whatever the fuck I want. And it doesn't matter if I say it, if I read it, if I think it, if I write it down,
[00:08:06] Unknown:
whether by pencil, pen, quill, or with a keyboard.
[00:08:13] David Bennett:
He was put into prison for exercising his first amendment right to not be interfered with while talking. This is the piece of shit, not only government that we have right now. This is endemic of the piece of shit citizenry that we have seen programmed around us. For every single person that you meet from hither and from now until hither and yon, however you wanna freaking say it. If anybody says he got what he deserved, that is the person that you cease talking to, you cease caring about as a human being, you cease being friends with. This is not the person you wanna be hanging out with.
This is a person that clearly, clearly doesn't understand he or she is next. I'm sorry. Was I ranting? Let's continue. Keanu Rodriguez or Keon Rodriguez, the CEO of Samurai Wallet, received the statutory maximum from US district judge, Denise Coate, of the Southern District Of New York following an hour long hearing in Manhattan, according to journalist Frank Korva. Fellow developer William Long and Hill, excuse me, the company's CTO, was scheduled to be sentenced on Friday. Rodriguez and Hill were arrested April 2024 and charged with conspiracy to commit money laundering and conspiracy to operate an unlicensed money transmitting business. After over a year of litigation, both plead guilty to the lesser unlicensed money transmitting charge in exchange for prosecutors dropping the very much more serious money laundering conspiracy charge, which carries a maximum of twenty years in prison.
Oh, so they were nice to them. Yeah. Great. Well, prosecutors said the pair operated samurai wallets crypto mixing service, Whirlpool and Ricochet to obscure the origins of criminal proceeds from drug trafficking, dark net marketplaces, cyber intrusions, fraud screams, and murder for hire operations. Whirlpool coordinated batches of Bitcoin exchanges between users. Oh, oh my god. The death of the children is upon us. Look at the piles of bodies because of oh, I don't know. Let's see. What what what did it say? What what what did it say? Oh, coordinating batches of Bitcoin exchanges between users. Think of the fucking children. Holy shit.
How many children died in that sentence? I I mean, the sheer blackness of the soul that would would allow Bitcoin exchanges between users. At one point or another, we're going to get tired of this, but I I I just don't see it happening anytime soon. I I really don't. We're just gonna allow ourselves to be walked on and and thrown in jail just because some idiot, you know, makes an Insta rule because, I don't know, they got pissed off at their son or something like that for spending too much money. Who knows? Who knows?
Because what's what's what's not illegal today will be illegal tomorrow. You know? What what used to be an infringement of constitutional rights, you know, is is now just completely fucking acceptable. But, I mean, again, you know, may maybe I'm being too harsh. All those poor children and the puppy dogs, and the cute little chipmunks and squirrels, and the entire ravenous folio of characters of Disney princess movies all died, you know, because coordinating batches of Bitcoin exchanges between users. Yeah. Yeah. Whatever. Ricochet introduced multiple intermediate transactions, God d'Or, or HOPS, to make tracing funds more difficult. From Ricochet's 2017 launch and Whirlpool's 2019 inception, more than 80,000 Bitcoin valued over $2,000,000,000 at the time passed through the services generating, my God, dollars 6,000,000 in fees. I'll bet they all bought heroin so that they could get the children at the elementary school hooked.
Because I'm sure that was the next thing they did, was to walk over to all the schools and then give them heroin so that they could get, you know, I don't know, take them to Hollywood and make sex films out of them. Because this is the hyperbole we're dealing with on a daily fucking basis. People could, I'm just, I would like to give you money. Oh my god. How many people have you killed because you gave me money? No, man. I just wanted a coffee. Oh my god. I can't believe you're using this particular service to trade your value for the value that I provide. If we have we have these three acceptable services to do that, but anything outside of that causes instadeath to the smallest and very cutest of children, those like Shirley Temple.
Court documents reveal that Rodriguez and Hill actively encouraged criminal use of samurai wallet. Rodriguez described the service as money laundering for Bitcoin, and Hill promoted Whirlpool on Dread, a dark net form, as a tool to make illicit funds untraceable. Following a 2020 social media hack, the pair tracked stolen funds in real time and publicly urged hackers to launder the proceeds through samurai wallet. Now I will pause to say that that's just dumb. I mean, yeah, exercise your freedom of speech, but don't say stupid shit. I mean, that's just that's just literally, that's just dumb. You are literally inviting the wolves to come to your door. So for those of you who are out there that think that, you know what? What who who's to say what money laundering is?
You know, like, I did not make this money by drugs, you know, by selling drugs to children. I did not make this, you know, mishandling any children whatsoever. I did not, you know, make this money by cashing in people's Social Security checks, nor did I what a but, like, somebody who's like, look, man. I got a tip the other day, you know, that that if I buy this stock, I'll get, like, 500 x. And then I did it, and I and I did. But I really don't wanna give the money to the United States government because they have they are the worst offenders at actually killing children just in other countries even though they do kill some here. I won't even get into that.
But but but that's money laundering. Now I don't I didn't want any of my tax dollars being used to buy bombs to go bomb the brown children over there in Iraq and Iran and Pakistan and Afghanistan and Libya and where wherever the hell we are at this point. I didn't want any of that. I mean, I feel ethically dirty that I have allowed that shit to happen, that the money that I was able to either procure or produce was used to actually commit war crimes. From an ethical and moral standpoint, I feel very, very small. Very, very small.
You know? So, you know, from that standpoint, what is money laundering? Is it really money laundering because I wanna keep the money that I made without hurting another soul on the planet away from people who are full hell bent on doing so on a daily basis? In my opinion, nah. That's that's actually my moral duty is to keep power out of the hands of those that misuse it. And our tax system is hell bent and purpose built to do exactly that, to take my money and turn it into the most evil black candle at the blackest of masses that you can ever have and do the most heinous shit with it.
But I'd still have to say that when they're on these dark when they're on these forums, when when Hill and and Rodriguez are are saying shit like, yeah, man. We're gonna make this shit untraceable. You are literally inviting the wolves to your door. Don't don't please don't do that. So these guys are, like, Rodriguez's host for five years. Right? Plus all the time that he's already spent in prison, this is already I think we're two and a half years out. Now he's got another five to go. And he's gotta pay $250,000, which I actually thought was you know, I figured that they would have gone for, like, I don't know, 2,500,000.0.
I'm I'm actually shocked that they only want 250,000. They've already got $6,000,000 of, I I guess, their money or maybe just Rodriguez's money. So I'm but I'm still very shocked that it's only $250,000. Still, sixty months of your life being burned to ash inside of a place like a United States federal penitentiary. And Hill is gonna get the same. He's not gonna escape. They this judge gave it to Rodriguez. She is gonna pound it to Hill too. It's sad. I don't like seeing it. And this is why I will always continue to say, if you are a Bitcoin developer hell, a develop a developer for anything, even if it is a shitcoin, I don't care.
If you're developing
[00:18:04] Unknown:
anything in this space, stop using your own name. You don't have to. It's not required. Don't do it. Don't give your address. Don't show up at at meetings,
[00:18:22] David Bennett:
you know, and say, hey. I'm the developer of of Whirlpool. Don't do that. If you wanna show up at Bitcoin, you know, the Bitcoin magazine's Bitcoin conference in Miami or wherever the hell is gonna be next year, here, try this. Don't tell anybody what you're up to. Just enjoy just enjoy meeting people. Have a beer. Go, you know, beach fishing. I don't know. But don't tell people that you're designing a piece of software that will allow somebody to remain untraceable to governments around the world. Don't do that. Not that hard. Don't do that.
Now Michael Saylor and strategy, this is strategy adds Europe to their capital raising efforts, securing $715,000,000 in their newest preferred offering, James Van Stratten. How is the virus spreading, James? And this is out of CoinDesk. Michael Saylor and team at Strategy have officially expanded across the pond as they seek to tap new funding markets in their quest to acquire even more Bitcoin. At least they know what they're doing. The largest publicly traded company holding Bitcoin strategy priced its initial public offering at 7,750,000.00 shares of 10% series a perpetual stream preferred stock, or the ticker symbol is s t r e, at €80 per share.
7,700,000.0 yielding 7,750,000.00 shares yielding 10% at €80 a share. Holy crap, dude. The sale expected to close November 13 will generate approximately €620,000,000 or 715,000,000 US dollars in gross proceeds per a Friday press release with the company. The company will mostly acquire additional Bitcoin with it. The STRE stock carries a 10% annual dividend yield. Remember? Yield. Where does the yield come from? On its €100 stated value payable quarterly beginning December 31 when declared by the board. Unpaid dividends will accrue interest at an initial rate of 11%, rising 1% per quarter up to 18% until paid.
Oh, well, that's an interesting structure. Strategy is already the holder of 641,205 Bitcoin worth roughly 64,100,000,000.0 at BTC's current prices of about 100,000 a coin. In addition to recent declines in the price of Bitcoin, the premium at which investors are pricing Strategy's common stock to the value of its Bitcoin has been rapidly contracting. This crimps the company's ability to raise money via common stock sales, making these preferred issuances a favored avenue should the company want to continue to accumulate BTC. And then they talk about share prices of of strategy. I honestly don't care. I don't own any. If you wanna know, it's $225 a share for strategy right now.
They were not supposed to be printing any more common shares until until, like, what, last month or the month before, Sailor changed that rule. It was a rule. They were literally had written themselves a rule. We cannot we cannot, print more common stock. And then people stopped by you know, there was a kind of a they didn't stop, but there was kind of like a lull in the amount of these preferred debt vehicles that they were able to sell. And then lo and behold, Sailor comes out, says rule change. To me, that's also insta rule. You know, it's like the drunk girl, you know, playing spin the bottle and say, no, you can't do that or something. And then everybody else is like, what? That's not the that's an Insta rule, honey. You can't do that shit. Anyway, Insta rule. And all of a sudden, what happens? Well, you print more shares than the people that already own shares of your stock get what's called diluted.
That's another way of of of illustrating what happens to people that hold US dollars while the United States government is printing more US dollars. We call it inflation. In the world of stocks and bonds, it's called dilution. Alright? So just think of it that way. Anyway, this looks like their maneuvering into Europe is going to be wildly successful. And now instead of instead of grabbing the money out of the pockets of United States citizens, they're gonna go scavenge over in Europe. And I'm like, more power to you. You take all of you take every bit of that shit over there. Let's just go ahead and and and clean house. You know? Because Europe is in a not in a good spot right now. The European Union in itself is not in a good spot.
I don't expect the European Union to survive the next five to ten years, but we'll we'll have to see, obviously. Okay. Oshie. Oshie good .us. Dude, Circle p is open for businesses where I bring plebs with goods and services that are just like you to plebs just like you who wanna buy those goods and services, but you're buying in Bitcoin. Because if you ain't selling in Bitcoin, you ain't in the circle p. It's the only value for value advertising model anywhere on the Internet, anywhere in Bitcoin, anywhere, anywhere, anywhere, anywhere. I'm the only one that does it. There's probably a reason for it, but I like shining the light on pleb vendors like Oshigood. Oshigood is awesome. He makes this freaking fabulous it's like you think of it as peanut butter, but it's not. Right? But but first of all, keep capturing your mind a jar of creamy, beautiful peanut butter, except it's made with pecans.
No peanuts anywhere close to this thing. Here's the ingredients. Pecans, maple sugar not not maple syrup. Maple sugar. You remember Christmas? Like, back in the day, seventies, eighties, you had a little pack and it had, like, these little maple leaves and they looked brown and they really thick, and they were made out of sugar and it was freaking delicious even though it you know, pure sugar. Well, I mean, sugar sugar is gonna do its thing. That's maple sugar. That's maple sugar. It's not maple syrup he's making this with. It's pecans, maple sugar, sea salt flakes, cinnamon and black pepper.
Dude, sea salt flakes. Why the hell would you put salt in here to balance the sweetness? This guy knows what he's doing. He's he's able to play with flavors, But, like, maple, you get the maple, but you get so much sweetness in it. And you've already got some sugar and some sweetness out of the pecans. You gotta pull some of that sweetness back. And the best way to do that is salt. It's amazing the what you can do with flavors, and Oshi has got it freaking nailed. This stuff is delicious. It's absolutely gorgeous. I can't keep it I I like, I wasn't able to keep a jar of this stuff in the house for, like, longer than a week before my wife basically just crushed it on, like, on on, like, toast.
Right? It was it it's amazing. But it's cinnamon and black pepper gives it that get that extra little push over the cliff. So if you want some of this stuff and you wanna buy it in Bitcoin, you're gonna go to oshigood.us. That's oshigood.us. Use Bitcoin and in the coupon code. That lets Oshi know that I made a sale. If I made a sale, he gets me back on the other side with Bitcoin. It's like I said, it's value for value advertising.
[00:26:28] Unknown:
The only way Oshi knows I made a sale is if you use coupon code Bitcoin and Samson Moe. Samson Moe. He's been in the he's been in this game
[00:26:42] David Bennett:
a hell of a lot longer than I have. He's OG. So and you may not like him, and you may love him. You may not even know who the hell he is, but let's let's see what he's saying here. Atlas21.com bringing it to us. Samson Moe says, quote, governments will want Bitcoin because it's valuable just as they did with gold, end quote. This is an interview conducted with Samson Moe from Atlas twenty one. And the first question in the interview is, why did you decide to found Jan three? Now that's Samson Moe's outfit. Right? I found a Jan three so that there would be a group focused on bringing nations to adopt Bitcoin, implement Bitcoin strategies, and create Bitcoin bonds to accelerate hyper Bitcoinization.
What activities does Jan three, concretely carry out? Jan three does many different activities. I would say we are best known for adoption by nation states, engagement with countries, politicians, and governments. But we have also developed Aqua Wallet. It's a Bitcoin wallet based on liquid, which allows you to exchange between on chain Bitcoin, layer two, and pay through the Lightning Network. But we also support USDT, or Tether, on the liquid network, and it's possible to swap from liquid USDT to other blockchains. In which countries is Aqua Wallet most used?
It's difficult. I'm not sure at the moment, but I think our two largest countries are Argentina and Brazil. As a Bitcoiner, don't you think it's contradictory to help governments adopt Bitcoin? Oh, that's a good question. Quote, I think the thing people need to understand is that governments will always have money because they have power, and they will always want what is valuable. So if we look at gold as an example, it's not that a government suddenly declared that gold was valuable and then gold grew to a market cap of $20,000,000,000,000. People decided that gold was valuable, and then governments, of course, got gold.
And I don't think it's reasonable for people to assume that they can deny a government gold reserve back then. It's the same for Bitcoin. They want Bitcoin because it's valuable. It's suddenly if if sorry. If suddenly tomorrow bottle caps were valuable, governments would want bottle caps too. But I I think what we're doing is teaching them more about Bitcoin and more about the ethos and philosophy behind it and why. And I think, ultimately, this will have positive effects because they will understand Bitcoin at a deeper level, and they will be more favorable to passing legislation that strengthens people's sovereignty and autonomy rather than invading them because they themselves have Bitcoin.
They will know what Bitcoin is and will appreciate Bitcoin. Bitcoin or stablecoins? Which is used more at the moment? It depends on what your definition of use more is. I would say that today, Bitcoin is used more as an asset than as transactional money. But we are seeing growth of Bitcoin used as money also thanks to layer two. Stablecoins are also widely used. Tether now has about 500,000,000 users, and this is because people are looking for dollars that they can transact with and save since their fiat currencies are, you know, well, collapsing. So I would say it's somewhat balanced at the moment. And Bitcoin obviously tends more to be an asset class because of treasury companies and ETFs at the moment.
But the net feeling is that Bitcoin will win in the end because the Fiat system will stop being useful at some point, and everyone will only use Bitcoin. So how does the Dolphin card work? Pausing to tell you, I've I don't know what the Dolphin card is. Let's see what Samson says. Quote, the Dolphin card is simply a prepaid Visa card. Oh, this one. Okay. Okay. You can top it up with Bitcoin, with liquid Bitcoin, or with liquid USDT. And I think privacy is its most important feature since it supports liquid USDT and liquid Bitcoin.
It's possible to make confidential transactions that protect your data and your balance. Has Jan three already achieved concrete results in working with governments? Quote, I would say no because we haven't yet brought a country to do something significant. Even El Salvador never launched the Bitcoin bonds, but we are in negotiations with some countries to do bitcoin bonds so I think it's just a matter of time getting a country to pass a bitcoin law is more difficult actually we have achieved something We have helped Prospera with their Bitcoin law.
Prospera is a free private city in the Honduras, but in terms of a large country, not yet. Is Jan three's business model sustainable? Quote, our business is the Aqua Wallet, the nation state's initiative we're doing because we believe in the mission. Aqua recently surpassed $250,000,000 in swap volume and also the Dolphin card. I think we've surpassed $350,000,000 in spending anyway. And it was only launched just a few weeks ago. So I think Jan three's business model is quite sustainable. Which country is the most promising country for Bitcoin adoption?
Quote, I think The United States really needs Bitcoin at this point. Their debt is growing at an exponential rate. They've surpassed $38,000,000,000,000 in debt now, and I think this is largely why they're looking at Bitcoin. They want to be a dominant player in the stable coin market, and they want to have Bitcoin. But on the other hand, it's a necessity for them. They need Bitcoin because no one is buying their debt anymore. And stablecoin issuers are becoming the largest holders of US treasury. End quote. And that is the end of the interview. I'd let that last one sink in.
But there's Sampson Moe in his own words. Let's run the numbers. CNBC futures and commodities. Woo. Got some green in the oil markets today. Brent Norsey is up a third. West Texas Intermediate is up almost a half to $59.70 a barrel. Natural gas swinging for the other team. 1.15 to the downside, but still at $4.30 per thousand cubic feet. Gasoline down a point to a buck 94 a gallon, while Murbaughn Crude increasing in value by point 8% to $65.81. Shiny Metal Rock's having a good day. Gold back above, 4,000 today to $4,013. Palladium up one and a third.
Platinum is up point six four. Silver is up point four two. And copper is the only in the red, point one seven to the downside. Ag looks fully mixed to me, a little bit more on the red side though. Biggest winner is gonna be coffee, two and a half to the upside. Biggest loser is chocolate, 2.22% to the downside. Live cattle, oh, rebounding today, 1.22 in the green, percentage points that is. Lean hogs up almost a full point, and feeder cattle up 1.28. S and P is down point 67%. Nasdaq is down one and a quarter. Dow is down point 4%. The only thing doing well is the S and P Mini. It's in the green point 16%.
And then Bitcoin, it's dead. We're all gonna die. Bring in the funeral pyre. A $102,500. You see, didn't that sound just a little silly? You know, like, I mean, I remember a couple years ago, was it $33,000? I'm bitching about 102,500. Wow. Maybe I should get my head checked. Alright. $2,040,000,000,000 is market cap. We can purchase 25.6 ounces of shiny metal rocks with our one Bitcoin, of which there are 19,945,532.41 of. An average fees per block are high. 0.03 BTC taken in fees on a per block basis. Looks to be about 25 blocks carrying 54,000 unconfirmed transactions waiting to clear at high priority rates of three sets per v byte. Low priority is gonna get you in at one.
And Zeta Hash territory continues. Row of sticks, 1.11 Zeta Hash per second is the amount of security on the Bitcoin network. I feel secure. You should feel secure. We're doing good. From Chicken Hawkish, yesterday's episode of Bitcoin, and I got Psyduck with 764 Psyduck. Bubba with Bubba got the rush boost, baby, $21.12. If you don't know what I'm referring to, I can't help you. Bubba says, I'm gonna open my own bank back by backed by golden pig shit and a church backed by bourbon. Both will be named the church and bank of blissful sedation. Trust me, I know nothing and everything.
I'm a dangerous man. Thank you. How you doing, David? Bubba, I'm doing just fine. You're my favorite trucker. Bubba, if you did not know, Bubba either has driven and then retired from, I think, not once but twice trucking and I think he's actually now back in in the big rigs trucking again. I love how he says I'm a dangerous man. I think he's actually referring to a song from Warren Zevin. If you don't know what song I'm referring to, it's too bad because it's probably one of the best songs ever written in the world. Tulips with 500 says tulips, breaking news. Billionaire Michael Saylor goes bankrupt throwing expensive parties every time Bitcoin goes above a 100,000.
Trump claims not to know who CZ is. My guess is that they know how influential Binance is for stablecoins to flow, and they are just lubing each other's hands. In other words in other news, I hate bitcoin.com. These motherfuckers threw me for a ride with all that false information when I started learning about bitcoin. Yeah. No. You ain't the only one, brother. They really do prey on the stupid and or misinformed me on both cases. They should just accept that their Bitcoin shitcoin is just tulips and already went to zero. Yeah. I know, man. Bitcoin.com is a sad it's a sad story.
It really is. But, you know, Bitcoin magazine was a sad story when, you know, it turned into a basically a shitcoin magazine, and then David Bailey rescued it, and now it looks like it may fall into disrepair again. Who I don't know. I mean, I it's just a a sheer gut feeling, but I brought you that news that David Bailey was gonna fold the Bitcoin conference, Bitcoin magazine, and and something else. I can't remember what it was. All into Nakamoto, which is which is at this point, guys, it's an abject failure. Nakamoto is an abject failure.
It's like b cash. Right? And now he wants to take what what is actually profitable and then use it to bolster the losses on Nakamoto by folding it into Nakamoto. This is not a good business plan. This is not this is I mean, sure, he's got a lot more money than I do, but this is still not a good business plan. You do not rob Peter to pay Paul. I you just you just don't do it. KT with 500 says, you should bring the monocle and top hat anyway. I probably should. Read. Wow. Holy shit. 21,000 sat says meet up announcement. Western Massachusetts Bitcoin meet up this Sunday. It's called Western Mass Bitcoin meet up. It's Sunday, November 9 at 6PM at Peppa's Pizza in East Longmeadow, RSVP at westernmassbitcoin.com.
That's western mass, m a s s, bitcoin.com. It's all one word. Westernmassbitcoin.com. Also, seriously, ask yourself, if you listen to Bitcoin and and you are within driving distance of Western Mass, how have you not come to our meetup yet? Come join us. Cheers. Pies with a 121 says, thank you, sir. No, thank you. Bitcoin for president with 500 says, you demand. Thank you for the show. I always enjoy them. Yeah. You probably enjoy this one too, pal. That's it. Okay. By the way, to read. Sir, thank you so much for the 21,000 sats.
November 9, that's this Sunday. If you're anywhere close to Western Massachusetts, then go to Peppa's Pizza in East Longmeadow. You need to RSVP at westernmassbitcoin.com. That's the weather report. Welcome to part two of the news that you can use off to Kazakhstan, where they plan a $1,000,000,000 national Bitcoin and crypto reserve fund. This has been this this been a rumor. Let's see if this is any closer to reality. Who knows? Micah Zimmerman, Bitcoin Magazine. Kazakhstan is preparing to establish a national cryptocurrency reserve fund worth somewhere between 500,000,000 and $1,000,000,000.
The fund will be seeded with assets seized or repatriated from abroad. Central bank governor, Timur Samov, said in London this week that the fund will invest very carefully through regulated instruments such as exchange traded funds and shares of companies involved in digital finance rather than holding cryptocurrencies like Bitcoin directly. And you've already lost. Just saying. I mean, let's just be clear about this. Whatever, dude. The initiative slated for launch by early twenty twenty six represents Kazakhstan's most concrete move yet to institutionalize its crypto strategy after years of experimenting with mining and tightening control over private operations. Yeah. You'll probably have to be institutionalized anyway.
Officials said that the program will be managed under the Astana International Financial Center, which is the country's fintech hub and may eventually include foreign investment partners. Plans for state run crypto funds first surfaced in 2024 when the country's agency for financial monitoring proposed consolidating confiscated wallets and mined tokens into a national reserve. You know, let's pause here for a second. What is it about this asset, Bitcoin in general, but, you know, digital other crypto shit coin, whatever, you know, as well, what is it about this asset class that has caused this? Have I mean, think about it.
Have you ever heard a country say, you know, we wanna start a gold reserve, but we're only gonna use gold that we've confiscated while we've been fry fighting crime like McGruff, the crime dog. Right? We certainly certainly didn't, like, you know, say, hey, you know, we're just gonna we're gonna create this national silver reserve with all this silver that we confiscated from something something something. No. No. It's you I mean, and and, like, hey. Well, we you know, we've confiscated a shit ton of cocaine. I know that we actually, you know, contracted with these guys to actually build you know, make the cocaine and fly it over here from Colombia.
If you are doubting me, please see US Air. Not the movie. Just, like, literally US Air. It was it was or was it like a what was the name of that thing? Hold on for a sec. I I I now I gotta look. Air America. That's what I was thinking of. It's called Air America, Please. Look it up. CIA. Anyway, what is it about this asset class that causes the the the first response to anybody is less confiscated and build a reserve out of it? Because, honestly, this is like, I don't think that this has ever really happened. Yeah. Real I I I if I'm wrong about this, if you can find me an example of any country in the history of countries that have expressly made, you know, a a lot of noise about building a reserve out of a particular asset class, but only starting with that asset class and and or or items that match that asset class that's been confiscated through crime.
Because I don't think it's I don't think it's happened. I think that's odd. It just it just dawned on me that that shit's been going on. I'm sorry. Anyway, I'm I'm going way outside way outside where I normally would go anyway. The US Cryptos Reserve, which is created under a March 2025 executive order, serves as a strategic stockpile for government owned digital assets, mainly Bitcoin, also acquired through forfeiture proceedings. Rather than purchasing new cryptocurrencies with taxpayer funds, the initiative focuses, on managing these existing holdings to support national interest and strengthen America's leadership in the digital asset space.
For decades, however, Kazakhstan's economy has pretty much relied heavily on oil exports, leaving it pretty damn vulnerable to commodity cycles. President Qasim Zhemat Tkayev had championed economic reforms to reduce that dependence on oil and push the nation towards technology, innovation, and digital finance. The crypto reserve fund aligns with that vision by focusing on ETFs and blockchain linked equities.
[00:46:41] Unknown:
Oh, god. These people.
[00:46:43] David Bennett:
The central bank hopes hopes to gain exposure to Bitcoin's upside while avoiding the custodial and volatility risks of holding the tokens outright. The fund also dovetails with broader ambitions to turn Kazakhstan into Central Asia's leading fintech center, the government's flagship, Aleutau CryptoCity project envisioned as a testing ground for blockchain startups and crypto based payments, will complement the reserve fund. So I guess they're gonna build a city that is a planned city for for cryptocurrency. Planned cities are always bad.
Having a themed planned city is just is just clown show level. Right? Seriously, stop stop doing shit like that. Everything about humanity is like everything about nature because we are natural. Humans are not aliens that drifted down from the sky, you know, or or transported to the surface. Right? No. We are part of the natural evolution of the planet. It is natural evolution. It's an organic thing. When you try to plan something, dude, have you ever been to a planned city? Don't. Just don't. It's it's not worth your time. Moving on to Australia where BlackRock is digging its nails in. They're gonna launch their own Bitcoin ETF just for Australia.
Bitcoin News, Eric Slattery. BlackRock, the world's largest asset managers reportedly getting ready to bring its popular iShares Bitcoin ETF to Australia, making or marking another step in the firm's global digital asset strategy. BlackRock Bitcoin ETF will be listed on the Australian Securities Exchange by mid November of this year, so this month, here in about a week and a half, I guess, offering local investors a simple and regulated way to gain exposure to Bitcoin without directly owning the asset because, god forbid, we should take responsibility for our own shit. But whatever. The debut of BlackRock's Bitcoin ETF in Australia comes after iBit's remarkable success in The United States.
BlackRock recently expanded its Bitcoin ETF offerings by launching similar products on the London Stock Exchange as well as the Swiss Stock Exchange. According to Tamara Staats, director of institutional client business at BlackRock Australia, The move demonstrates BlackRock's continued commitment to innovation. Wait. How's it innovative to sell the same product just in a couple of different countries? That's not innovation, that's market share. Dude, whatever. Alright. Screw them. They're they're gonna sell it down under. That's that's not innovation. We don't need any more about this story. But we probably do want to look at this one.
Google's threat report links AI powered malware to North Korean crypto thefts. This is out of decrypt written by Vince D'Aquino. Google warned that several new malware families are using large language models during execution to modify or generate code, marking a new phase in how state linked and criminal actors are deploying artificial intelligence in live operations. In a report released this week, the Google Threat Intelligence Group said, it has tracked at least five distinct strains of AI enabled malware, some of which have already been used in ongoing and active attacks.
This newly identified malware or these families, they dynamically generate malicious scripts and obfuscate their own code to evade detection while also making use of AI models to create malicious functions on demand instead of having those hard coded into malware packages, the threat intelligence group stated. Each variant leverages an external model such as Gemini or Quinn 2.5 coder during run time to generate or obfuscate code, a method g t I g has dubbed, quote, just in time code creation. Oh, god. This is bad. The technique represents a shift from traditional malware design where malware logic is typically hard coded into the binary.
By outsourcing parts of its functionality to an AI model, the malware can now continuously make changes to harden itself against systems designed to deter it. Two of the malware families, Prompt Flux and Prompt Steel, demonstrate how attackers are integrating AI models directly into their operations. GTIG's technical brief describes how Prompt Flux runs a thinking robot process that calls Gemini's API every hour to rewrite its own v b v b script code while prompt steal, which is linked to Russia's apt twenty eight group, uses the Quinn model hosted on Hugging Face to generate Windows commands on demand.
The group also identified activity from a North Korean group known as UNC ten sixty nine that misused Gemini. Google's research unit describes the group as a North Korean threat actor known to conduct cryptocurrency theft campaigns leveraging social engineering with notable use of language related to computer maintenance and credential harvesting, end quote. Per Google, the group's queries to Gemini include instructions for locating wallet application data, generating scripts to access encrypted storage, and composing multilingual phishing content aimed at crypto exchange employees.
These activities, the report added, appears to be part of a broader attempt to build code capable of stealing digital assets. Google said it had already disabled the accounts tied to these activities and introduced new safeguards to limit model abuse, including refined prompt filters and tighter monitoring of API access. The findings could point to a new attack surface where malware queries LLMs at runtime to locate wallet storage, generate bespoke exfiltration scripts, and craft highly credible phishing lures. Decrypt approached Google, but have yet to receive a response.
What does it all mean? Back in the day before AI, if you got I don't know. If a virus infiltrated your computer, it that virus, the code behind it, what it was, you know, what it was able to do, like all like, you know, basically, whatever it would be able to do to whatever extent that you can imagine was contained in what's called a static coding or rather hard coded. What does that mean? It means that coding doesn't change. I write the code once, I put it in a nice little box with a pretty little bow, and I hand it to you. Boom. Your computer's infected. But I can't get back into that box and change that code. But now I can.
Because now when I write the virus, I install something that allows it to call out and use a l l m, a large language model, maybe a general language model, whatever however it is that you wanna see it. But like something like Claude or, you know, or in this case, Quinn, two point, you know, 2.5, all those things. And then it has the ability to rewrite its own code. So if it's found out by, let's say,
[00:54:57] Unknown:
antivirus software, pick your favorite. It rewrites itself on the fly. Now it looks different. So now so now here's what's gonna happen.
[00:55:11] David Bennett:
AI powered antivirus software brought to you by McAfee and Kapersnik or whatever the I can't remember the name of the Russian version of it Or or CC cleaner. Right? You know? Or any of the other antivirus shit. But now it's gonna be AI to combat AI generated viruses. But except those viruses carry the the ability to use AI within them live real time. It's not like they say, okay, buddy. This one didn't work. Let me send an email back or however that communicates back to my current author so that he can use AI to write another one. No. I I literally release it into the wild and it mutates itself on the fly in real time given certain environmental pressures like coming up against malware detection.
This is a lot more like biology than it is computer science, And this makes it very fucking dangerous. Very fucking dangerous indeed. There's nothing more dangerous on this planet than the living creatures upon it. But be that plant, mammal, insect, I don't give a shit. The most dangerous thing on this planet are the living creatures upon it. Why? Because they can change in accordance with their environment in almost real time. This is even faster. Do not keep hot wallets. Do not use shit like MetaMask. Just at this point, just presume all your shit is already hosed. If you're using the Internet, if you're using, like, browser wallets, all of it, kiss it goodbye. The only thing that's gonna make sense is being able to do something like get a cold card from CoinKite, generate a Bitcoin wallet address, generate your private and public keys right there, and do not do not do not use, like, a hot wallet that is in your browser.
Don't do it. Because it's not going to be able to handle the onslaught of what is to come. This Google report, honestly, should permanently raise the hackles on the back of your neck. In fact, at this point, you should just go break out the clippers and just shave the hair on the back of your neck straight the fuck off because if you don't, it's gonna feel really weird under the collar of any shirt you wear because that shit ain't never going down if you've reacted to this news in the proper way that gives it the proper respect. This shit is bad. A virus being able to change its physiology, its digital physiology on the fly, given environmental pressures, should scare the piss out of just about anybody.
I should've seen it coming. I just I just it just there there's so much more about AI and its potential that we don't know. What sucks is the people that get a hold of tools, instead of getting a hold of a hammer and building a house, instead of that being their first instinct, is they want to crush somebody's skull in. I you know, maybe maybe the globalists are right. Maybe we shouldn't have humans. We keep screwing things up. We we haven't built anything beautiful in centuries. We haven't had a global breathtaking moment since, like, the space race in the fifties and sixties.
It's just been one freaking McDonald's, you know, architectural ugliness after another after strip mall after strip mall after strip mall, and pavement upon pavement upon pavement, and churches that are in metal barns, and it's just
[00:59:18] Unknown:
sad. It's just sad. We're better than this. We can be so much better than this. But right now, it just looks like we're I don't know. It just looks it looks pretty dark. I still have hope. But right now, it looks dark. This is not the first time I've seen this. Look up nineteen seventies. It was shit looked pretty dark back then too. We got through that one. We'll get through this one. And when we do, 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.
Friday intro, mission of the podcast, and curation stance
Todays lineup: Samurai Wallet case, Strategy in Europe, Samson Mow, Kazakhstan, BlackRock, North Korea
Samurai Wallet verdict: five-year sentence and First Amendment rant
On promoting privacy tools, operational security, and developer anonymity
Strategy raises 715M in Europe: preferred shares, yield mechanics, and dilution
Value-for-value shoutouts and community notes
Part two kick-off: Kazakhstans proposed national crypto reserve fund
BlackRock to launch Bitcoin ETF in Australia
Google report: AI-enabled malware and risks to crypto users
Closing reflections: cycles of gloom and hope
