Strategic $35 Trillion Debt
Episode 931 of Bitcoin And . . . is LIVE!
Topics for today:
Episode 931 of Bitcoin And . . . is LIVE!
Topics for today:
- Russia To Use Bitcoin for International Trade
- U.S. Bill for Strategic BTC Reserve Floated
- Terra Chain Exploited for $4 Million
- Alby Hub: Rundown of Services
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It is, what, Wednesday, 31st July 2024. It is 8:16 AM mountain time. This is episode 831 no. 931 of Bitcoin, and the Russkies are up to something. And apparently, the United States is up to something too with strategic Bitcoin reserves. Moving stuff around on us after Trump talks. It's just a mess. And then there's the United States National Debt. Oh, God. We're gonna talk about that one, do a little bit of market analysis, and, you know, get into the rest of the show. Let's start with Russia. Let's just go ahead and just get this thing rolling. Russia legalizes Bitcoin and crypto for international trade to bypass sanctions.
However, the new law doesn't lift the existing ban on crypto payments inside the country. This is like the thought the thought processes of the Russians never have never ceased to amaze me. It's just they're honestly just kind kind of an kind of an amazing pattern. But, well, let's just do this one in a significant legislative move. Russian lawmakers that have passed a bill permitting businesses to use Bitcoin and other cryptocurrencies in international trade according to a report by Reuters. The development is part of Russia's strategy to circumvent Western sanctions imposed following the invasion of Ukraine.
Mhmm. The new law expected to take effect in September aims to address delays in international payments particularly with key trading partners like China, India, and United Arab Emirates. Central bank governor Elvira Nublina, a proponent of the law, announced that the first cryptocurrency transactions will occur before the year's end. The central bank will establish an experimental infrastructure for these payments and further details pending. Quote, the risks of secondary sanctions have grown, old Whatsurface stated.
They make payments for imports difficult and that concerns a wide range of goods. The legislation also includes regulations on cryptocurrency mining and the circulation of other digital assets, but maintains the ban on cryptocurrency payments within the Russian Federation. The central bank highlighted that payment delays have caused an 8% drop in Russian imports in the Q2 of 2024, despite efforts to shift the trading partners' currencies and develop an alternative BRICS payment system, many transactions still rely on, you guessed it, United States dollars and European Euros via the SWIFT system risking secondary sanctions.
Nabuallalina or whatever emphasized that these sanctions have complicated import payments, extending supply chains and increasing costs. This decision, by Russian lawmakers, aims to mitigate the economic challenges posed by sanctions and ensure smoother international trade operations. Anatoly Aksakov, the head of the Douma lower house of parliament reportedly told lawmakers, quote, we are taking a lot of historic decisions in the financial sphere by passing this legislation. Okay, that was by Nick Hoffman out of Bitcoin Magazine, by the way. Just just understand here, The Russians see what can be done with Bitcoin.
Like in this particular case, not your keys, not your coins, and nobody can stop transactions. But they don't want their own people to use it, so they're going to keep the ban on it inside the country. But as far as the government's concerned, they can do it. And that's clearly disturbing. That is clearly disturbing behavior. But this is the way the Russian mind works. They are just obtuse about their shit. Alright? They don't care. They they they don't care what you see. They are going to they they see something of utility and they say we're gonna do this. And then they realize that that same utility cannot be used by somebody else, So they're not going to allow that. And in this case, their own people, their own citizenry is gonna be continuously locked out of the ability to use Bitcoin inside the country.
But at least their businesses can use it to bypass some of these sanctions and what not like that because we've tried breaking the bank of Russia so many times and they just won't die. They and honestly I keep wondering, you know, maybe we should, maybe we should, I don't know, instead of just constantly going to war with them in proxy wars, maybe we should actually make some some real effort to say: Hey, look, can we stop all the bullshit and just kinda like see if we can be friends? Maybe come over to dinner? I don't know. But still, just I think it's funny that the Russians have never changed the way they thought.
Utility, when it screams utility the Russians will use it, and if it screams the same utility for somebody that they have control over that they don't want to have that utility, they'll just say no. And it's clear that that is what's going on here. But, you know, even even the Russians understand that Bitcoin is the only thing that really matters. Now from CoinDesk, the United States Strategic Bitcoin Reserve is going to be funded partly by revaluing the Fed's gold according to a draft bill. And this is Bradley Kwan out of CoinDesk.
United States Senator Cynthia Lummis's plan for a new strategic Bitcoin reserve would finance purchases of the cryptocurrency partly by revaluing gold certificates held by the Federal Reserve System. So paper, according to a draft of the legislation obtained by CoinDesk, Lummis, a Wyoming Republican who is known for her Bitcoin friendly policy stance, announced her intention to propose the reserve on Saturday at the Bitcoin Nashville conference. She came on stage just minutes after former US president Donald Trump, the Republican nominee in this year's presidential race, delivered a speech on blockchain policy before the cheering room filled to its 8,500 person capacity.
Trump, during his speech, endorsed using the United States government's existing Bitcoin holdings primarily obtained through forfeitures and seizures related to criminal cases to form the core of a new strategic national bitcoin stockpile. According to this draft bill, under the working short title of Bitcoin Act of 2024, the Treasury Secretary would establish a decentralized network of secure Bitcoin storage facilities distributed across the United States, selecting the locations for the vaults based on a comprehensive risk assessment prioritizing geographic diversity, security, and accessibility.
Some parts of this actually know what the hell they're doing. It's this is amazing. It's actually let's let's get into the rest of it. Maybe it won't ever get cringe. The treasury secretary would establish a Bitcoin purchase program of up to 200,000 BTC a year over a 5 year period for a total of 1,000,000 according to the draft. The bitcoin would be held for at least 20 years and could only be disposed of for the purposes of paying off federal debt. After that, no more than 10% of the assets could be sold during any 2 year period. Fixed huddling there. The Bitcoin purchases would be financed through a few methods described in the draft bill as off setting the cost of the strategic Bitcoin Reserve.
The plan calls for the setting aside of $6,000,000,000 from any net earnings remitted by Federal Reserve to the Treasury from fiscal year 2025 through year 2029 And it would reduce the discretionary surplus funds of Federal Reserve Banks to $2,400,000,000 from $6,825,000,000 the level that is currently stipulated in the Federal Reserve Act. There is also the revaluation of Federal Reserve Bank's Gold Certificates to reflect their fair market value. Now, under this plan, within 6 months of enactment of the legislation, Federal Reserve Banks would tender all of their outstanding gold certificates to the Treasury Secretary.
Within 90 days after that, the Treasury Secretary would issue new gold certificates to the Federal Reserve Banks that reflect the fair market value price of the gold. And it just got a little cringe, so too bad. Well, the Federal Reserve Banks would then remit the difference in cash value between the old and new certificates to the Treasury Secretary. As of July 24th, Federal Reserve Banks held gold stock valued at $11,000,000,000 according to the central bank's most recent balance sheet update. That valuation might be based on the official US book value of $42.22 per troy ounce which the Federal Reserve Bank of New York uses to value its gold. But the market value of gold is more than 50 times higher than that with front month futures contracts on the yellow metal trading around $24100 based on market watch pricing.
Okay. So honestly, it's a little too confusing for, not it's not too confusing for me or you to understand. I just think that there's a lot of stuff that doesn't really need to be in here. This revaluation of gold certificates, I'm not sure if we're just not playing another FIAT game right then and there. So, while I appreciate Cynthia Lummis, and I do. I'm not going to give her any shit. And I sort of appreciate some of the items in this bill. The gold certificates, I mean, unless here's what I want. We need a physical inventory.
A complete audit of all United States physical gold. I don't give a shit about the certificates, and I never will because it's worth the paper that it's printed on. I want to see the gold. I want to have like at least 3 different independent private contractors audit the United States gold supply along with a federal auditor from Treasury, a federal auditor well, not a federal auditor, but an auditor from the Federal Reserve, and somebody else from possibly the SEC. Something like that, where you got 6 people, 3 of them from the government and 3 of them are private contractors out in private industry. And all of their numbers have to say we have this many tons of gold.
And that at that point then we can start saying okay then then I don't know figure out a way to get bitcoin with the gold. It doesn't matter because right now they're they're still talking in fiat terms because every time you hear certificate, what I hear is the word paper. And I don't like paper. Paper has gotten us in trouble. And here is the number of how much trouble we're in. $35,000,000,000,000 is the now US national debt, and it could bolster Bitcoin's adoption as hard money Cointelegraph Zolton Vardi is writing, the growing national debt of the world's largest economy, the United States, could catalyze mass bitcoin adoption according to some analysts.
On July 30th, the United States federal government's national debt surpassed $35,000,000,000,000 with a t for the first time in history, raising concerns about the health of the economy. Oh my god. Is it possible that the economy might be in trouble? I I can't believe it. This is the first I've heard. Freaking idiots. However, the ballooning US debt could fortify the adoption of Bitcoin and its status as a safe haven asset according to Matt Bell, the CEO of Turbofish, whatever the hell that is. He told Cointelegraph quote, the recent news of the United States national debt reaching the record high of $35,000,000,000,000 highlights growing concerns around, do you know, the sustainability of traditional fiat currencies?
This situation stresses the importance of Bitcoin as hard money, a decentralized and deflationary asset that offers a hedge against currency devaluation. End quote. During periods of fiat currency devaluation, investors often seek out safe havens, like, you know, bitcoin and gold to help protect their purchasing power. Bitcoin price has historically increased during periods of distress in the legacy financial system. The growing US national debt could propel Bitcoin prices to a new all time high. Bitcoin price will benefit from government bonds becoming less attractive since a large part of the US government spending is directed towards debt servicing, not toward productive sectors, according to Bitfinex analyst who told Cointelegraph quote, the US national debt of $35,000,000,000,000 highlights the importance of Bitcoin as hard money and potentially act as a catalyst for the next upward cycle in Bitcoin. This may drive investors to seek alternative stores of value like bitcoin, which is often perceived as a hedge against economic inefficiencies.
End quote. The analyst added that the looming debt crisis would be avoided if if the US dollar was a hard currency which doesn't have an unlimited supply. The analyst explained, quote, a lot of the US current national debt arises, you know, due to inflation, loss of value in the currency against other currencies, and the ease with which any government can print as much money as it wants. Bitcoin can rightly be called one of the only true hard currencies because it's protected against inflation to a large degree, has a limited supply, is durable due to its digital nature, and is increasingly available.
So, $35,000,000,000,000 The the servicing of the interest alone on $35,000,000,000,000 is an eye, an eye watering and staggering number. And honestly, we need to get as far away from this system as we possibly can as fast as we possibly can. Good Lord have mercy. Let's see. Oh, you know, there was one thing that I just remembered down here at the bottom. Let me get back down here. Where this analyst says Bitcoin can rightly be called one of the only true hard currencies because it's protected to, against inflation to a large degree and has a limited supply and is durable due to its digital nature. I posted something on Nostra a couple of days ago that was a headline, and I don't have the news story in front of me, but the headline was enough for me to know what was going on.
This like she some retiree in I don't know what state, but it was in the United States, found $6,000 in cash. Cash bills. Cash money. Right? Not not a check. I mean actual, you know, Franklins and, you know, Washingtons and Lincolns and all that shit. But the money was degraded And I don't I don't know how, maybe it was wet, it got moldy, who knows? But she brought it to a bank, they refused it. They refused $6,000 They were not going to deposit that in her account and then send those bills off to be destroyed. They just refused to take the money because it was in such bad shape apparently. That's what they're saying. Now again, I don't know. I didn't see the money, okay? I'm obviously speculating here, but how is it that that currency is hard money?
If we can print the shit out of it and after we print the living daylights out of it, it doesn't even hold up under stress. It's supposed to be durable. That's one of the key points of having money. That's or a currency. That is literally one of the points. It's supposed to be divisible, it's supposed to be recognizable, that kind of thing. And one of those things is durability. This doesn't sound like it was very durable at all. And the United States money, especially back in the day, was printed on damn near stuff that was indestructible and to a large part, as far as I can tell, it kind of still is.
It almost still is. But so this woman, $6,000 down the drain. And just really just too damn bad. Alright. Getting into money. Let's do market stuff. See what's going on around the world. Gold having or not gold. Oil is having a bit of a rally today. West Texas Intermediate up 3.1% to 7705. Brenton, North Sea up 2a half to 8065, but natural gas losing it 3.25 percent of the downside. Gasoline, however, is also up 2 and a half to the upside to $2.44 a gallon. Every shiny metal rock doing well. Gold included. 0.68 percent of the upside. 2,468 50 for that one. Silver up 1.3.
Platinum is up almost a point. Copper is up 2 and a third and palladium is up 3 damn near 4 points. Ag is taking it on the chin today. Everything is in the red except for Rough Rice. 0.23 percent of the upside. Biggest loser today is oh, who is it? Oh, it's a tie between coffee and sugar. Okay. Well, live cattle is also down 0.17%. Lean hogs, however, are up 0.87% and feeder cattle are up a quarter of a percent. Legacy index indices are representing a bunch of green today too. The Dow is up 0.3%. The S and P is up 1.5. Nasdaq is up 2.68%.
S and P Mini is up a half percent. Let's see. I'm just going to just scroll and see if there's any interesting news items about what's going on in the market today. And I don't see anything. We were supposed to have a bunch of numbers are supposed to come out, and maybe that they've come out, but I'm not seeing anything on CNBC. And most most of you guys really just don't like the legacy markets anyway. I just do it so that you know what's going on in the rest of the world. Like this one, the Terra blockchain. Oh, that's not the rest of the world. It is in cryptocurrency.
And ladies and gentlemen, boys and girls, this this this this this is exactly why I do not shit coin from decrypt and Stephen Graves. Terra blockchain exploit has drained over $4,000,000 in tokens. Oh mercy, the Terra blockchain was halted Wednesday morning after an exploit drained 1,000,000 of dollars worth of tokens. In a tweet, Tara stated that the blockchain would halt at block height I don't know. Some stupid ass big old number to enable validators to apply an emergency patch to address the exploit. That's what I want with my money. I want it to be fixed with emergency patches. Yes.
Bitcoin only people following the blockchain halt. The network resumed block production at around 4:19 AM UTC per tweet from Terra, with validators holding over 67% of voting power on the chain having patched their nodes against the exploit. According to blockchain security firm, Boson, the attack saw over $4,000,000 in tokens drained from bridged assets including 60,000,000 ASTRO tokens and 2.7 BTC along with $3,500,000 worth of USDC and $500,000 worth of USDT stablecoins. Following the exploit, the price of Astro ports, ASTRO token plummeted to an all time low of 1.3 pennies. Like, we're talking like what DOGE used to be. And is currently trading at 0.021 pennies, down over 53% on the day per data from Goingecko Terra Terra's own Luna token. And if you didn't realize that that's what we're talking about, Terra Luna didn't die.
Somehow didn't die. But Terra's own Luna token meanwhile settled at around 2.7% down on the day to about 39¢ after dipping to 38¢ in the immediate aftermath of the exploit. Per Boesen, the attack exploited a known vulnerability and involved the deployment of a malicious COSM WASM contract. The potential exploit was disclosed and involves a reentrancy vulnerability in the timeout callback of IBC hooks, part of the inter blockchain communication protocol used to initiate contract calls and enabling cross chain swaps. LUNA, also known as Terra 2.0, is a hard fork oh, okay. That's right. Is a hard fork spun off from the original blockchain dubbed Terra Classic, which is now l n or l u n c, in the wake of the 2022 collapse of the Terra ecosystem.
The collapse was precipitated by the failure of Terra's algorithmic stablecoin, UST, and sparked contagion across the crypto ecosystem. Yeah, that wasn't the only thing that was going down. Terra Luna was going down at the same time FTX was I imploding and everything else was just falling apart because humans cannot seem to stop stealing money from each other. I I I don't know how else to say it. I don't know how else to say it. Please, guys, Bitcoin only. Before we get to the end of the show without me doing this, on Bitcoin and episode 8, 930 entitled Venezuela lost. Let's read the boosts. Starting with Dabravco with 2140.
Satoshi says 1, love the music. 2, looking forward to boosting Cody. I did not see a split before and I figured you were going to do something on that for him. 3, I know how the miner is paying its bills. Missus classic tech startup, where they convinced a bank to just give them loans for payroll, and they had somehow convinced that, that their stack of Bitcoin will go up in value. I don't know. I could see it, but I think banks right now are a little bit risk averse. I mean, I'm not saying you're wrong. I'm just saying, I don't know. I don't know what I'm saying. But about the Cody thing, this is an ongoing issue.
I invited Cody and sent him the invite code to GetAlBI. Right? I said invite my friends and they said you know Get Alby says okay, what's their email address? And then when I give them a proper email address they give me a code back. So I got a hold of Cody and said hey, just go to get albie.com and sign up and then do all the things and when it comes time for a code just give him this code. And he did it. And he's like, oh this shit's really easy. And I'm like going, oh yeah, just wait until the satoshis start rolling in. And they're not rolling in.
And why? I don't know. It's it seems to be an income excuse me, an incoming liquidity problem. Alright. It seems to have had a had a problem with the button. So I I don't know how long that gap is. And I may not be able to fix this gap because there's not a whole lot of editing tools available to me. So I apologize. What I was trying to do was get into, episode 9:30 of Bitcoin and otherwise known as Venezuela Lost. Dubravco boosted 21.40 sat said 1, love the music. 2, looking forward to boosting Cody. I did not see a split before and I figured you were going to do something about that for him. 3. I know how the miner is paying its bills. Missus Classic Tech Startup where they convinced a bank to just give them loans for payroll and they had somehow convinced them that their stack of Bitcoin would go up in value.
I appreciate that, Dabravco. As far as this the the, paying miners paying their bills, I don't know. It seems to me that banks right now are really risk averse to everything. But as for, about the Cody situation, here's what's going on with that and I'm gonna need y'all's help. I sent Cody an invite code for GetAlBI. He got it, he used it, and he got a valid, lightning wallet address back from GetAlBI. And he sent it to me, so I immediately tried sending him some satoshis like 10, just a test transaction. And it came back with like failed payment, user may not have enough incoming liquidity, and it actually has a question mark at the end of this particular error.
So I emailed or I put the wallet address for Cody out there on Nostra and said please test this and see if it's just me. And everybody that tested it got the exact same message. I mean the exact same screen. Some people sent me screenshots. Nobody is able to send Cody any Satoshis whatsoever because he has quote unquote an incoming liquidity problem. So I I shouted out that that whole thing to get or to Albie on Noster. I had I didn't hear back all day yesterday and I kind of thought that I would. So this morning I DM ed Albie with all of Cody's information saying we've got to get this fixed.
And I haven't heard back from them yet, but I only, you know, I only DM'd them a couple of hours ago. So, I'm gonna be at least a little patient. But if you guys know what the hell might be going on, please let me know. Did Alby change something? Because when I got my Alby wallet up and running a couple of years ago it was just off to the races. There was there was no issue. I know that they're doing this Alby hub thing and I'm hoping that something is going on in the background that's causing things to break or maybe they're migrating stuff. I don't know. But whatever it is, we'll talk about the Albie hub here in a second. Whatever it is, Cody is not able to get sats right now and I need to get that fixed before I can put him into the split.
Otherwise, any boost or streaming that you guys do won't get to Cody. I know how much how many sats that episode is made from fountain. When when we get this fixed, I'm gonna give him half of whatever is whatever that number is from fountain. And I'll talk about that when it when it happens so that you guys know that I'm not just blowing smoke up your ass. Now wartime with a 1000 says, I support your efforts of cleaning up the oceans of all these baby seals. Wack, wack, wack. Pies boosted 4:20. Thank you, sir. No. Thank you. God's death with 3 no. 237. Thank you, sir. No. Thank you. And Lee Lee Lee Lee boosted a 100 sat says, dude, try not to work so much while you're on vacation.
Pura Vida. Well, he says PV, but I'm pretty sure he means Pura Vida. And we used to have a restaurant up here at the lake called Pura Vida. It was a Costa Rican restaurant. It was there was an American expat moved down to Costa Rica, opened up a restaurant called Pura Vida and but he somehow or another still loved it up here so much that he opened up a second Pura Vida restaurant right on the lake. And they had an awesome bloody Mary bar. That thing was so kick ass it wasn't even funny. And we really really really missed that place. But, there's one fish left to fry.
The 6 different lightning back ends for AlbyHub. And this is directly from blog. Gitalby.com. AlbyHub runs on top of 6 different lightning backends which currently are LDK, LND, Greenlight, Phoenix, Breeze SDK, as well as Cashew Mints. This article is for the high before the tech and lightning enthusiasts eager to explore the technical fee flexibility of Albie Hub. Interoperability is one of the core strengths of the lightning community and a fundamental value for Albie. We've dedicated a significant effort to ensure that this capability is reflected across all of our products. Even Albie account can be linked with any NWC enabled lightning wallet.
Every Albie browser extension runs with a lightning funded source of your choice, and so does Albie Hub, a new self custodial lightning wallet. And maybe we'll find out what the Cody issue is here. If you prefer a self custody lightning wallet with a lightning address capable of connecting to every single Bitcoin app, your browser, and your smartphone simultaneously, well AlbiHub is the ideal choice. Users no longer need to manage isolated wallets and accounts. Albie Hub includes an integrated lightning development kit implementation. Its resource efficiency in terms of storage, memory, and compute allow for the rapid deployment of multiple hubs on a cloud server each containing its own lightning network node and Bitcoin on chain wallet in under 2 minutes.
LND and Greenlight. The option for the Lightning Pros. Many lightning node operators rely on LND for Bitcoin payments. A Lightning Network Node implementation developed by Lightning Labs and Go, LND is a standalone daemon packed with an extensive set of features. AlbyHub, a powerful yet lightweight application, seamlessly integrates with LND nodes running in server environments or on external hardware devices like those commonly seen with Umbrel in Start OS. Authorization is handled via LND address, TLS certificate and a macaroon from the LND node itself. An alternative is Blockstream Greenlight's node in the cloud service, based on core lightning.
In this setup, node keys are securely stored on your device, such as your Albi Hub. Blockstream manages access to their node resources through invite codes, so an invite code for them is currently required to link Albie Hub. Users of both implementations, when connected to an Alby Hub, enjoy enhanced connectivity across web and mobile platforms without the hassle of configuring Tor, firewalls, or browser certificates. Additionally, developers can utilize Alby's APIs to interact programmatically with their nodes facilitating automation and app integrations.
Phoenix D Breeze SDK. The option for the software pros. Are you adept at setting up Phoenix x Phoenix sorry, PhoenixD or have Breeze SDK API as it leverages Blockstream's greenlight node in the cloud service. Phoenix d, this server counterpart of the popular Phoenix mobile wallet, it is written in Kotlin and runs natively on Linux, macOS, and Windows. Making it an excellent funding source for Alby Hub. This guide will help you install both applications on a server in under 4 minutes, and then they give a link to that. Both options provide lightning services including automatic channel opening. Oh, that'd be nice. Liquidity provisioning and routing and are available in the Albi do it yourself plan, where you run Albi Hub on your own machines.
By connecting to Phoenix D or Breeze SDK, you gain a lightning address and the ability to receive zaps. Hence, albihub expands the range of use cases for lightning wallets offering users enhanced options and convenience. Now cashewmints was the option for the curious pros. Cashew is a free and open source Chamian e cash protocol for Bitcoin. It allows users to transfer Cashew tokens, which are issued by mint operators. These mints can pay lightning invoices and receive Bitcoin payments and serve as another funding source for your Albi hub. To connect a mint, paste the URL of a mint from a page like this, and And this is a link to a Bitcoin payments wait on bitcoinminced.com.
In this screen the this feature is in alpha so use it with care and have fun spending Cashew tokens natively in apps of the Bitcoin app ecosystem. If you don't want to run your own node to try out AlbyHub, connecting a Casu Mint to your hub is an attractive option. Alby is your companion for lightning payments both in apps and wherever you go. We aim to cater to your individual preferences and Alby Hub is the logical next step. A product enabling everybody to enhance their lightning node and wallet with superpowers and ensure interoperability across Bitcoin apps and platforms.
We hope you enjoy Albi and give it a try. AlbiHub is open source. Any kind of feedback and contribution is appreciated. So I think was I think maybe this might have an issue be part of the issue with Cody's new wallet because he set up his Get Albie wallet yesterday. And and AlbieHub was announced like I brought it to you a couple of shows ago. So maybe we're getting lost in this in this churn that's going on over at Alby. And that also may explain why they haven't gotten back to me because they are always really good at getting back to questions from users. And when when I ask them stuff, I don't wait that long. So I'm thinking that they are like putting out fires and maybe servers are burning, you know, and they're having to, you know, boil the oceans to kill the rest of the planet to get all this shit done.
Whatever. I'm good with it. But at one point or another, I'm gonna get Cody fixed up. And the second that Cody gets fixed up, he's gonna be in the split on that show. It might take a while to get him there, but when that happens, you know, maybe I'll maybe I'll do another interview with him or somehow or another include something about Cody in another show so that I can put him into the split so that he can actually see this working. Cause until you see it working it's just somebody blowing smoke up your ass. Okay. So that is it for the show. I'm going take, take my my, fan's advice and go do something fun with my kids. I will see you on the other side. Actually, no. Hold on. Hold on. I gotta do my thing. Where's my thing? I gotta I gotta do all my thing. There it is. There it is.
Yeah. Oh, yeah. I gotta do the DJ thing. And that was episode 931 of Bitcoin. And on the last day of July 2024, ending the show at 8:54 AM. I had a lot of fun, guys. I'm having a lot of fun with this new rig, but it is gonna takes a lot of practice to get it where it's not so damn cringe sometimes, man. But that is gonna happen and after it happens, I'll see you on that side.
It is, what, Wednesday, 31st July 2024. It is 8:16 AM mountain time. This is episode 831 no. 931 of Bitcoin, and the Russkies are up to something. And apparently, the United States is up to something too with strategic Bitcoin reserves. Moving stuff around on us after Trump talks. It's just a mess. And then there's the United States National Debt. Oh, God. We're gonna talk about that one, do a little bit of market analysis, and, you know, get into the rest of the show. Let's start with Russia. Let's just go ahead and just get this thing rolling. Russia legalizes Bitcoin and crypto for international trade to bypass sanctions.
However, the new law doesn't lift the existing ban on crypto payments inside the country. This is like the thought the thought processes of the Russians never have never ceased to amaze me. It's just they're honestly just kind kind of an kind of an amazing pattern. But, well, let's just do this one in a significant legislative move. Russian lawmakers that have passed a bill permitting businesses to use Bitcoin and other cryptocurrencies in international trade according to a report by Reuters. The development is part of Russia's strategy to circumvent Western sanctions imposed following the invasion of Ukraine.
Mhmm. The new law expected to take effect in September aims to address delays in international payments particularly with key trading partners like China, India, and United Arab Emirates. Central bank governor Elvira Nublina, a proponent of the law, announced that the first cryptocurrency transactions will occur before the year's end. The central bank will establish an experimental infrastructure for these payments and further details pending. Quote, the risks of secondary sanctions have grown, old Whatsurface stated.
They make payments for imports difficult and that concerns a wide range of goods. The legislation also includes regulations on cryptocurrency mining and the circulation of other digital assets, but maintains the ban on cryptocurrency payments within the Russian Federation. The central bank highlighted that payment delays have caused an 8% drop in Russian imports in the Q2 of 2024, despite efforts to shift the trading partners' currencies and develop an alternative BRICS payment system, many transactions still rely on, you guessed it, United States dollars and European Euros via the SWIFT system risking secondary sanctions.
Nabuallalina or whatever emphasized that these sanctions have complicated import payments, extending supply chains and increasing costs. This decision, by Russian lawmakers, aims to mitigate the economic challenges posed by sanctions and ensure smoother international trade operations. Anatoly Aksakov, the head of the Douma lower house of parliament reportedly told lawmakers, quote, we are taking a lot of historic decisions in the financial sphere by passing this legislation. Okay, that was by Nick Hoffman out of Bitcoin Magazine, by the way. Just just understand here, The Russians see what can be done with Bitcoin.
Like in this particular case, not your keys, not your coins, and nobody can stop transactions. But they don't want their own people to use it, so they're going to keep the ban on it inside the country. But as far as the government's concerned, they can do it. And that's clearly disturbing. That is clearly disturbing behavior. But this is the way the Russian mind works. They are just obtuse about their shit. Alright? They don't care. They they they don't care what you see. They are going to they they see something of utility and they say we're gonna do this. And then they realize that that same utility cannot be used by somebody else, So they're not going to allow that. And in this case, their own people, their own citizenry is gonna be continuously locked out of the ability to use Bitcoin inside the country.
But at least their businesses can use it to bypass some of these sanctions and what not like that because we've tried breaking the bank of Russia so many times and they just won't die. They and honestly I keep wondering, you know, maybe we should, maybe we should, I don't know, instead of just constantly going to war with them in proxy wars, maybe we should actually make some some real effort to say: Hey, look, can we stop all the bullshit and just kinda like see if we can be friends? Maybe come over to dinner? I don't know. But still, just I think it's funny that the Russians have never changed the way they thought.
Utility, when it screams utility the Russians will use it, and if it screams the same utility for somebody that they have control over that they don't want to have that utility, they'll just say no. And it's clear that that is what's going on here. But, you know, even even the Russians understand that Bitcoin is the only thing that really matters. Now from CoinDesk, the United States Strategic Bitcoin Reserve is going to be funded partly by revaluing the Fed's gold according to a draft bill. And this is Bradley Kwan out of CoinDesk.
United States Senator Cynthia Lummis's plan for a new strategic Bitcoin reserve would finance purchases of the cryptocurrency partly by revaluing gold certificates held by the Federal Reserve System. So paper, according to a draft of the legislation obtained by CoinDesk, Lummis, a Wyoming Republican who is known for her Bitcoin friendly policy stance, announced her intention to propose the reserve on Saturday at the Bitcoin Nashville conference. She came on stage just minutes after former US president Donald Trump, the Republican nominee in this year's presidential race, delivered a speech on blockchain policy before the cheering room filled to its 8,500 person capacity.
Trump, during his speech, endorsed using the United States government's existing Bitcoin holdings primarily obtained through forfeitures and seizures related to criminal cases to form the core of a new strategic national bitcoin stockpile. According to this draft bill, under the working short title of Bitcoin Act of 2024, the Treasury Secretary would establish a decentralized network of secure Bitcoin storage facilities distributed across the United States, selecting the locations for the vaults based on a comprehensive risk assessment prioritizing geographic diversity, security, and accessibility.
Some parts of this actually know what the hell they're doing. It's this is amazing. It's actually let's let's get into the rest of it. Maybe it won't ever get cringe. The treasury secretary would establish a Bitcoin purchase program of up to 200,000 BTC a year over a 5 year period for a total of 1,000,000 according to the draft. The bitcoin would be held for at least 20 years and could only be disposed of for the purposes of paying off federal debt. After that, no more than 10% of the assets could be sold during any 2 year period. Fixed huddling there. The Bitcoin purchases would be financed through a few methods described in the draft bill as off setting the cost of the strategic Bitcoin Reserve.
The plan calls for the setting aside of $6,000,000,000 from any net earnings remitted by Federal Reserve to the Treasury from fiscal year 2025 through year 2029 And it would reduce the discretionary surplus funds of Federal Reserve Banks to $2,400,000,000 from $6,825,000,000 the level that is currently stipulated in the Federal Reserve Act. There is also the revaluation of Federal Reserve Bank's Gold Certificates to reflect their fair market value. Now, under this plan, within 6 months of enactment of the legislation, Federal Reserve Banks would tender all of their outstanding gold certificates to the Treasury Secretary.
Within 90 days after that, the Treasury Secretary would issue new gold certificates to the Federal Reserve Banks that reflect the fair market value price of the gold. And it just got a little cringe, so too bad. Well, the Federal Reserve Banks would then remit the difference in cash value between the old and new certificates to the Treasury Secretary. As of July 24th, Federal Reserve Banks held gold stock valued at $11,000,000,000 according to the central bank's most recent balance sheet update. That valuation might be based on the official US book value of $42.22 per troy ounce which the Federal Reserve Bank of New York uses to value its gold. But the market value of gold is more than 50 times higher than that with front month futures contracts on the yellow metal trading around $24100 based on market watch pricing.
Okay. So honestly, it's a little too confusing for, not it's not too confusing for me or you to understand. I just think that there's a lot of stuff that doesn't really need to be in here. This revaluation of gold certificates, I'm not sure if we're just not playing another FIAT game right then and there. So, while I appreciate Cynthia Lummis, and I do. I'm not going to give her any shit. And I sort of appreciate some of the items in this bill. The gold certificates, I mean, unless here's what I want. We need a physical inventory.
A complete audit of all United States physical gold. I don't give a shit about the certificates, and I never will because it's worth the paper that it's printed on. I want to see the gold. I want to have like at least 3 different independent private contractors audit the United States gold supply along with a federal auditor from Treasury, a federal auditor well, not a federal auditor, but an auditor from the Federal Reserve, and somebody else from possibly the SEC. Something like that, where you got 6 people, 3 of them from the government and 3 of them are private contractors out in private industry. And all of their numbers have to say we have this many tons of gold.
And that at that point then we can start saying okay then then I don't know figure out a way to get bitcoin with the gold. It doesn't matter because right now they're they're still talking in fiat terms because every time you hear certificate, what I hear is the word paper. And I don't like paper. Paper has gotten us in trouble. And here is the number of how much trouble we're in. $35,000,000,000,000 is the now US national debt, and it could bolster Bitcoin's adoption as hard money Cointelegraph Zolton Vardi is writing, the growing national debt of the world's largest economy, the United States, could catalyze mass bitcoin adoption according to some analysts.
On July 30th, the United States federal government's national debt surpassed $35,000,000,000,000 with a t for the first time in history, raising concerns about the health of the economy. Oh my god. Is it possible that the economy might be in trouble? I I can't believe it. This is the first I've heard. Freaking idiots. However, the ballooning US debt could fortify the adoption of Bitcoin and its status as a safe haven asset according to Matt Bell, the CEO of Turbofish, whatever the hell that is. He told Cointelegraph quote, the recent news of the United States national debt reaching the record high of $35,000,000,000,000 highlights growing concerns around, do you know, the sustainability of traditional fiat currencies?
This situation stresses the importance of Bitcoin as hard money, a decentralized and deflationary asset that offers a hedge against currency devaluation. End quote. During periods of fiat currency devaluation, investors often seek out safe havens, like, you know, bitcoin and gold to help protect their purchasing power. Bitcoin price has historically increased during periods of distress in the legacy financial system. The growing US national debt could propel Bitcoin prices to a new all time high. Bitcoin price will benefit from government bonds becoming less attractive since a large part of the US government spending is directed towards debt servicing, not toward productive sectors, according to Bitfinex analyst who told Cointelegraph quote, the US national debt of $35,000,000,000,000 highlights the importance of Bitcoin as hard money and potentially act as a catalyst for the next upward cycle in Bitcoin. This may drive investors to seek alternative stores of value like bitcoin, which is often perceived as a hedge against economic inefficiencies.
End quote. The analyst added that the looming debt crisis would be avoided if if the US dollar was a hard currency which doesn't have an unlimited supply. The analyst explained, quote, a lot of the US current national debt arises, you know, due to inflation, loss of value in the currency against other currencies, and the ease with which any government can print as much money as it wants. Bitcoin can rightly be called one of the only true hard currencies because it's protected against inflation to a large degree, has a limited supply, is durable due to its digital nature, and is increasingly available.
So, $35,000,000,000,000 The the servicing of the interest alone on $35,000,000,000,000 is an eye, an eye watering and staggering number. And honestly, we need to get as far away from this system as we possibly can as fast as we possibly can. Good Lord have mercy. Let's see. Oh, you know, there was one thing that I just remembered down here at the bottom. Let me get back down here. Where this analyst says Bitcoin can rightly be called one of the only true hard currencies because it's protected to, against inflation to a large degree and has a limited supply and is durable due to its digital nature. I posted something on Nostra a couple of days ago that was a headline, and I don't have the news story in front of me, but the headline was enough for me to know what was going on.
This like she some retiree in I don't know what state, but it was in the United States, found $6,000 in cash. Cash bills. Cash money. Right? Not not a check. I mean actual, you know, Franklins and, you know, Washingtons and Lincolns and all that shit. But the money was degraded And I don't I don't know how, maybe it was wet, it got moldy, who knows? But she brought it to a bank, they refused it. They refused $6,000 They were not going to deposit that in her account and then send those bills off to be destroyed. They just refused to take the money because it was in such bad shape apparently. That's what they're saying. Now again, I don't know. I didn't see the money, okay? I'm obviously speculating here, but how is it that that currency is hard money?
If we can print the shit out of it and after we print the living daylights out of it, it doesn't even hold up under stress. It's supposed to be durable. That's one of the key points of having money. That's or a currency. That is literally one of the points. It's supposed to be divisible, it's supposed to be recognizable, that kind of thing. And one of those things is durability. This doesn't sound like it was very durable at all. And the United States money, especially back in the day, was printed on damn near stuff that was indestructible and to a large part, as far as I can tell, it kind of still is.
It almost still is. But so this woman, $6,000 down the drain. And just really just too damn bad. Alright. Getting into money. Let's do market stuff. See what's going on around the world. Gold having or not gold. Oil is having a bit of a rally today. West Texas Intermediate up 3.1% to 7705. Brenton, North Sea up 2a half to 8065, but natural gas losing it 3.25 percent of the downside. Gasoline, however, is also up 2 and a half to the upside to $2.44 a gallon. Every shiny metal rock doing well. Gold included. 0.68 percent of the upside. 2,468 50 for that one. Silver up 1.3.
Platinum is up almost a point. Copper is up 2 and a third and palladium is up 3 damn near 4 points. Ag is taking it on the chin today. Everything is in the red except for Rough Rice. 0.23 percent of the upside. Biggest loser today is oh, who is it? Oh, it's a tie between coffee and sugar. Okay. Well, live cattle is also down 0.17%. Lean hogs, however, are up 0.87% and feeder cattle are up a quarter of a percent. Legacy index indices are representing a bunch of green today too. The Dow is up 0.3%. The S and P is up 1.5. Nasdaq is up 2.68%.
S and P Mini is up a half percent. Let's see. I'm just going to just scroll and see if there's any interesting news items about what's going on in the market today. And I don't see anything. We were supposed to have a bunch of numbers are supposed to come out, and maybe that they've come out, but I'm not seeing anything on CNBC. And most most of you guys really just don't like the legacy markets anyway. I just do it so that you know what's going on in the rest of the world. Like this one, the Terra blockchain. Oh, that's not the rest of the world. It is in cryptocurrency.
And ladies and gentlemen, boys and girls, this this this this this is exactly why I do not shit coin from decrypt and Stephen Graves. Terra blockchain exploit has drained over $4,000,000 in tokens. Oh mercy, the Terra blockchain was halted Wednesday morning after an exploit drained 1,000,000 of dollars worth of tokens. In a tweet, Tara stated that the blockchain would halt at block height I don't know. Some stupid ass big old number to enable validators to apply an emergency patch to address the exploit. That's what I want with my money. I want it to be fixed with emergency patches. Yes.
Bitcoin only people following the blockchain halt. The network resumed block production at around 4:19 AM UTC per tweet from Terra, with validators holding over 67% of voting power on the chain having patched their nodes against the exploit. According to blockchain security firm, Boson, the attack saw over $4,000,000 in tokens drained from bridged assets including 60,000,000 ASTRO tokens and 2.7 BTC along with $3,500,000 worth of USDC and $500,000 worth of USDT stablecoins. Following the exploit, the price of Astro ports, ASTRO token plummeted to an all time low of 1.3 pennies. Like, we're talking like what DOGE used to be. And is currently trading at 0.021 pennies, down over 53% on the day per data from Goingecko Terra Terra's own Luna token. And if you didn't realize that that's what we're talking about, Terra Luna didn't die.
Somehow didn't die. But Terra's own Luna token meanwhile settled at around 2.7% down on the day to about 39¢ after dipping to 38¢ in the immediate aftermath of the exploit. Per Boesen, the attack exploited a known vulnerability and involved the deployment of a malicious COSM WASM contract. The potential exploit was disclosed and involves a reentrancy vulnerability in the timeout callback of IBC hooks, part of the inter blockchain communication protocol used to initiate contract calls and enabling cross chain swaps. LUNA, also known as Terra 2.0, is a hard fork oh, okay. That's right. Is a hard fork spun off from the original blockchain dubbed Terra Classic, which is now l n or l u n c, in the wake of the 2022 collapse of the Terra ecosystem.
The collapse was precipitated by the failure of Terra's algorithmic stablecoin, UST, and sparked contagion across the crypto ecosystem. Yeah, that wasn't the only thing that was going down. Terra Luna was going down at the same time FTX was I imploding and everything else was just falling apart because humans cannot seem to stop stealing money from each other. I I I don't know how else to say it. I don't know how else to say it. Please, guys, Bitcoin only. Before we get to the end of the show without me doing this, on Bitcoin and episode 8, 930 entitled Venezuela lost. Let's read the boosts. Starting with Dabravco with 2140.
Satoshi says 1, love the music. 2, looking forward to boosting Cody. I did not see a split before and I figured you were going to do something on that for him. 3, I know how the miner is paying its bills. Missus classic tech startup, where they convinced a bank to just give them loans for payroll, and they had somehow convinced that, that their stack of Bitcoin will go up in value. I don't know. I could see it, but I think banks right now are a little bit risk averse. I mean, I'm not saying you're wrong. I'm just saying, I don't know. I don't know what I'm saying. But about the Cody thing, this is an ongoing issue.
I invited Cody and sent him the invite code to GetAlBI. Right? I said invite my friends and they said you know Get Alby says okay, what's their email address? And then when I give them a proper email address they give me a code back. So I got a hold of Cody and said hey, just go to get albie.com and sign up and then do all the things and when it comes time for a code just give him this code. And he did it. And he's like, oh this shit's really easy. And I'm like going, oh yeah, just wait until the satoshis start rolling in. And they're not rolling in.
And why? I don't know. It's it seems to be an income excuse me, an incoming liquidity problem. Alright. It seems to have had a had a problem with the button. So I I don't know how long that gap is. And I may not be able to fix this gap because there's not a whole lot of editing tools available to me. So I apologize. What I was trying to do was get into, episode 9:30 of Bitcoin and otherwise known as Venezuela Lost. Dubravco boosted 21.40 sat said 1, love the music. 2, looking forward to boosting Cody. I did not see a split before and I figured you were going to do something about that for him. 3. I know how the miner is paying its bills. Missus Classic Tech Startup where they convinced a bank to just give them loans for payroll and they had somehow convinced them that their stack of Bitcoin would go up in value.
I appreciate that, Dabravco. As far as this the the, paying miners paying their bills, I don't know. It seems to me that banks right now are really risk averse to everything. But as for, about the Cody situation, here's what's going on with that and I'm gonna need y'all's help. I sent Cody an invite code for GetAlBI. He got it, he used it, and he got a valid, lightning wallet address back from GetAlBI. And he sent it to me, so I immediately tried sending him some satoshis like 10, just a test transaction. And it came back with like failed payment, user may not have enough incoming liquidity, and it actually has a question mark at the end of this particular error.
So I emailed or I put the wallet address for Cody out there on Nostra and said please test this and see if it's just me. And everybody that tested it got the exact same message. I mean the exact same screen. Some people sent me screenshots. Nobody is able to send Cody any Satoshis whatsoever because he has quote unquote an incoming liquidity problem. So I I shouted out that that whole thing to get or to Albie on Noster. I had I didn't hear back all day yesterday and I kind of thought that I would. So this morning I DM ed Albie with all of Cody's information saying we've got to get this fixed.
And I haven't heard back from them yet, but I only, you know, I only DM'd them a couple of hours ago. So, I'm gonna be at least a little patient. But if you guys know what the hell might be going on, please let me know. Did Alby change something? Because when I got my Alby wallet up and running a couple of years ago it was just off to the races. There was there was no issue. I know that they're doing this Alby hub thing and I'm hoping that something is going on in the background that's causing things to break or maybe they're migrating stuff. I don't know. But whatever it is, we'll talk about the Albie hub here in a second. Whatever it is, Cody is not able to get sats right now and I need to get that fixed before I can put him into the split.
Otherwise, any boost or streaming that you guys do won't get to Cody. I know how much how many sats that episode is made from fountain. When when we get this fixed, I'm gonna give him half of whatever is whatever that number is from fountain. And I'll talk about that when it when it happens so that you guys know that I'm not just blowing smoke up your ass. Now wartime with a 1000 says, I support your efforts of cleaning up the oceans of all these baby seals. Wack, wack, wack. Pies boosted 4:20. Thank you, sir. No. Thank you. God's death with 3 no. 237. Thank you, sir. No. Thank you. And Lee Lee Lee Lee boosted a 100 sat says, dude, try not to work so much while you're on vacation.
Pura Vida. Well, he says PV, but I'm pretty sure he means Pura Vida. And we used to have a restaurant up here at the lake called Pura Vida. It was a Costa Rican restaurant. It was there was an American expat moved down to Costa Rica, opened up a restaurant called Pura Vida and but he somehow or another still loved it up here so much that he opened up a second Pura Vida restaurant right on the lake. And they had an awesome bloody Mary bar. That thing was so kick ass it wasn't even funny. And we really really really missed that place. But, there's one fish left to fry.
The 6 different lightning back ends for AlbyHub. And this is directly from blog. Gitalby.com. AlbyHub runs on top of 6 different lightning backends which currently are LDK, LND, Greenlight, Phoenix, Breeze SDK, as well as Cashew Mints. This article is for the high before the tech and lightning enthusiasts eager to explore the technical fee flexibility of Albie Hub. Interoperability is one of the core strengths of the lightning community and a fundamental value for Albie. We've dedicated a significant effort to ensure that this capability is reflected across all of our products. Even Albie account can be linked with any NWC enabled lightning wallet.
Every Albie browser extension runs with a lightning funded source of your choice, and so does Albie Hub, a new self custodial lightning wallet. And maybe we'll find out what the Cody issue is here. If you prefer a self custody lightning wallet with a lightning address capable of connecting to every single Bitcoin app, your browser, and your smartphone simultaneously, well AlbiHub is the ideal choice. Users no longer need to manage isolated wallets and accounts. Albie Hub includes an integrated lightning development kit implementation. Its resource efficiency in terms of storage, memory, and compute allow for the rapid deployment of multiple hubs on a cloud server each containing its own lightning network node and Bitcoin on chain wallet in under 2 minutes.
LND and Greenlight. The option for the Lightning Pros. Many lightning node operators rely on LND for Bitcoin payments. A Lightning Network Node implementation developed by Lightning Labs and Go, LND is a standalone daemon packed with an extensive set of features. AlbyHub, a powerful yet lightweight application, seamlessly integrates with LND nodes running in server environments or on external hardware devices like those commonly seen with Umbrel in Start OS. Authorization is handled via LND address, TLS certificate and a macaroon from the LND node itself. An alternative is Blockstream Greenlight's node in the cloud service, based on core lightning.
In this setup, node keys are securely stored on your device, such as your Albi Hub. Blockstream manages access to their node resources through invite codes, so an invite code for them is currently required to link Albie Hub. Users of both implementations, when connected to an Alby Hub, enjoy enhanced connectivity across web and mobile platforms without the hassle of configuring Tor, firewalls, or browser certificates. Additionally, developers can utilize Alby's APIs to interact programmatically with their nodes facilitating automation and app integrations.
Phoenix D Breeze SDK. The option for the software pros. Are you adept at setting up Phoenix x Phoenix sorry, PhoenixD or have Breeze SDK API as it leverages Blockstream's greenlight node in the cloud service. Phoenix d, this server counterpart of the popular Phoenix mobile wallet, it is written in Kotlin and runs natively on Linux, macOS, and Windows. Making it an excellent funding source for Alby Hub. This guide will help you install both applications on a server in under 4 minutes, and then they give a link to that. Both options provide lightning services including automatic channel opening. Oh, that'd be nice. Liquidity provisioning and routing and are available in the Albi do it yourself plan, where you run Albi Hub on your own machines.
By connecting to Phoenix D or Breeze SDK, you gain a lightning address and the ability to receive zaps. Hence, albihub expands the range of use cases for lightning wallets offering users enhanced options and convenience. Now cashewmints was the option for the curious pros. Cashew is a free and open source Chamian e cash protocol for Bitcoin. It allows users to transfer Cashew tokens, which are issued by mint operators. These mints can pay lightning invoices and receive Bitcoin payments and serve as another funding source for your Albi hub. To connect a mint, paste the URL of a mint from a page like this, and And this is a link to a Bitcoin payments wait on bitcoinminced.com.
In this screen the this feature is in alpha so use it with care and have fun spending Cashew tokens natively in apps of the Bitcoin app ecosystem. If you don't want to run your own node to try out AlbyHub, connecting a Casu Mint to your hub is an attractive option. Alby is your companion for lightning payments both in apps and wherever you go. We aim to cater to your individual preferences and Alby Hub is the logical next step. A product enabling everybody to enhance their lightning node and wallet with superpowers and ensure interoperability across Bitcoin apps and platforms.
We hope you enjoy Albi and give it a try. AlbiHub is open source. Any kind of feedback and contribution is appreciated. So I think was I think maybe this might have an issue be part of the issue with Cody's new wallet because he set up his Get Albie wallet yesterday. And and AlbieHub was announced like I brought it to you a couple of shows ago. So maybe we're getting lost in this in this churn that's going on over at Alby. And that also may explain why they haven't gotten back to me because they are always really good at getting back to questions from users. And when when I ask them stuff, I don't wait that long. So I'm thinking that they are like putting out fires and maybe servers are burning, you know, and they're having to, you know, boil the oceans to kill the rest of the planet to get all this shit done.
Whatever. I'm good with it. But at one point or another, I'm gonna get Cody fixed up. And the second that Cody gets fixed up, he's gonna be in the split on that show. It might take a while to get him there, but when that happens, you know, maybe I'll maybe I'll do another interview with him or somehow or another include something about Cody in another show so that I can put him into the split so that he can actually see this working. Cause until you see it working it's just somebody blowing smoke up your ass. Okay. So that is it for the show. I'm going take, take my my, fan's advice and go do something fun with my kids. I will see you on the other side. Actually, no. Hold on. Hold on. I gotta do my thing. Where's my thing? I gotta I gotta do all my thing. There it is. There it is.
Yeah. Oh, yeah. I gotta do the DJ thing. And that was episode 931 of Bitcoin. And on the last day of July 2024, ending the show at 8:54 AM. I had a lot of fun, guys. I'm having a lot of fun with this new rig, but it is gonna takes a lot of practice to get it where it's not so damn cringe sometimes, man. But that is gonna happen and after it happens, I'll see you on that side.
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