Join me today for Episode 988 of Bitcoin And . . .
Topics for today:
- The #NotOneMoreDay Initiative
- Trump Wins: Hold His Feet To The Fire
- Senate Turns Red Too
- Thomas Massie For USDA Sec?
- Joel Salatin as Advisor?
#Bitcoin #BitcoinAnd
The King Ranch Donation Pages:
https://www.ruralamericainaction.com/fundraising/save-king-ranch-and-agriculture-in-washington
https://www.givesendgo.com/Kingranch
Articles:
https://bitcoinmagazine.com/politics/pro-bitcoin-donald-trump-becomes-the-47th-president-of-the-united-states-
https://primal.net/e/note1z3y6mrfw85633wpqe4ze0rnyrhyud0m479p3gda346ydglmqw6xs83stp2
https://cointelegraph.com/news/republicans-majority-control-us-senate-pro-crypto-congress
https://www.kentucky.com/news/politics-government/article295151114.html
- https://www.cnbc.com/futures-and-commodities/
- https://dashboard.clarkmoody.com/
- https://mempool.space/
- https://fountain.fm/show/eK5XaSb3UaLRavU3lYrI
- https://geyser.fund/project/thebitcoinandpodcast
https://www.theblock.co/post/324827/blackrocks-spot-bitcoin-etf-sees-1-billion-of-volume-in-just-20-minutes-following-trump-victory
https://atlas21.com/robinhood-kraken-and-paxos-join-forces-for-a-new-stablecoin-network/
https://www.nobsbitcoin.com/boltz-web-app-v1-5-0/
Find the Bitcoin And Podcast on every podcast app here:
https://episodes.fm/1438789088
Find the Bitcoin And Podcast on every podcast app here:
https://episodes.fm/1438789088
Find me on nostr
npub1vwymuey3u7mf860ndrkw3r7dz30s0srg6tqmhtjzg7umtm6rn5eq2qzugd (npub)
6389be6491e7b693e9f368ece88fcd145f07c068d2c1bbae4247b9b5ef439d32 (Hex)
Twitter:
https://twitter.com/DavidB84567
StackerNews:
stacker.news/NunyaBidness
Podcasting 2.0:
fountain.fm/show/eK5XaSb3UaLRavU3lYrI
Apple Podcasts:
tinyurl.com/unm35bjh
Mastodon:
https://noauthority.social/@NunyaBidness
Support Bitcoin And . . . on Patreon:
patreon.com/BitcoinAndPodcast
Find Lightning Network Channel partners here:
https://t.me/+bj-7w_ePsANlOGEx (Nodestrich)
https://t.me/plebnet (Plebnet)
Music by:
Flutey Funk Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0 License
creativecommons.org/licenses/by/3.0/
[00:00:00]
David Bennett:
Good morning. This is David Bennett, and this is Bitcoin and, a podcast where I try to find the edge effect between the worlds of Bitcoin, gaming, permaculture, podcasting, and education to gain a better understanding of all. Edge effect is a concept from ecology describing a greater diversity of life where the edges of 2 systems overlap. While species from either system can be found at the edge, it is important to note there are species in the overlap that exist in neither system, and that is what I seek to uncover. So join me in discovering the variety of things being created as Bitcoin rubs up against other systems. My God almighty, it's 1:15 PM.
It's 1:15 PM. I am late. I am late. I am late today. I got a story about that. I'll get to it in a second. But it's the day after the Trumpists. Trumpists has won the election. I have never, never, possibly never been more wrong about any kind of predictions that I've ever made in my entire life, and I take that right on the chin. I'm totally fine with it. You know, could have been a lot worse, right? I said yesterday that we would not know who the hell was going to sit in that chair until at least today, if not a couple of weeks from now. And I can't tell you how happy I am to be wrong. Wrong. You were wrong, brother. I was totally wrong. But it is November 6, 2024 and this is episode 988 of Bitcoin and orange man.
That's right, orange man. It's a lot some people have said that, well, I can't believe you hate orange man. I don't hate him. He's a politician. I just don't trust him. I mean, but I'll tell you one thing, man. We've got some news out of USDA or well, I'm not sure if it's been confirmed, but we're gonna get to that story in a second. USDA is gonna be shaken up. If Kennedy goes to the health and human Department of Health and Human Services and is over NIH and the CDC and whatever the NIST or what was it, National Institutes of Immunological and something that, whatever Fauci was over, he gets to be the guy over all of that shit. There's gonna be some all kinds of potential changes that we see coming. And I say potential because, you know, people say they're going to do things, and then they don't.
Sometimes they do, sometimes they do some of it, sometimes they try all of it, and sometimes they try all of it and none of it works. I mean, it's just we're gonna it's going to be a, well, it's going to be a grab bag of whatever the hell we can get out of this next 4 years. But hey, like I said, never never been happier to be as wrong as I was on this show yesterday, I can tell you that. Now, why the hell am I late today? Well, I had a doctor's appointment. And while I was pulling up into the, into the, parking lot, there's rollers behind me. And if you don't know what rollers are, it's a reference to, the Blues Brothers, it's cop rollers, you know, the cop lights. They roll, you know, the rollers. Anyway, so I get pulled over.
Just happened to be exactly where it was that I wanted to be that I'm getting, you know, pulled over at. And I ain't got my license with me. I don't have my updated, insurance forms on me, so I had to download that shit out of progressive on my phone. I got a taillight that he says is out. It's just dim, and that's the whole reason I got pulled over in the first freaking place. And for the first time since I've lived in Washington state, I got pulled over and I had no idea that I had to actually have a piece of paper that was the registration of the car, which was 45 days out because my wife didn't give me the the the the mail that said, hey, you need to redo the registration.
Because in Texas, when you get pulled over for the, like, the last 25 years, they changed it. You didn't need to show them registration because registration was actually just you had to show registration when you, when you went to go pay well, alright. Here's where it worked. You went to the tax office in Texas and you took to them a little letter saying that you got your car inspected. Because while you don't need an inspection in Washington state, you do in Texas. But when you show them that letter, they give you your registration sticker, which is what you put up in the windshield. So your registration is on the car at all times. So digging through all this shit. It is like this guy's got must be going. What is wrong with this man?
It's like he I just dig it through his glove compartment. There's, like, cables and shit coming out, and he doesn't have his stuff, and this isn't there, and he's driving without a license. And I am honestly surprised that I didn't go to jail because the amount of violations that I racked up in that 5 minutes was more than I've ever racked up at one time in one place ever in my entire life. My god. Talk about insanity, man. Yeah. I shoulda had it all, but, dude, you don't know what it actually is. You nobody is gonna go to a website saying, hey. If I get pulled over in Washington state because I just moved here, what do I what exactly am I going to have to show? You just don't think of it when you've lived in the same state for decades. Right? You change state, you don't know, you don't you have no idea what the hell is going on. Anyway, he lit me off with a warning if you can believe it.
Wow. So anyway, really late, really late today, but let's get into the news. Pro Bitcoin, Donald Trump has become the 47th president of the United States. Bitcoin Magazine written by, well, Bitcoin Magazine. Donald J. Trump has officially emerged victorious, claiming the presidency for a second time as the 47th president of the United States with a critical victory in Pennsylvania and a decisive win in Wisconsin, clump took clump. Trump clinched the presidency by surpassing the number 270, which is the amount of electoral votes needed to secure the return to the White House.
These key battleground states, which were closely contested throughout the campaign, proved pivotal in pushing Trump over the threshold, solidifying the victory. Trump's final electoral tally reflects significant support across much of the Midwest and the South with additional wins in states such as Ohio and Florida reinforcing his lead. Yeah. Like he wasn't gonna carry Florida. Vice President Kamala Harris, despite strong performances in traditional Democratic strongholds like California and New York, fell short as Pennsylvania and Wisconsin tipped in favor of Trump, marking the turning point in the race.
Trump also garnered a majority of the popular vote with over 51%, signaling a renewed mandate from voters who prioritized his economic policies and focused on deregulation. So it's a milestone for Bitcoin. Let's find out how this election victory also marks the historic inauguration of the 1st openly pro Bitcoin president in the United States. Hey, guys, just because he said he likes Bitcoin doesn't actually mean he likes Bitcoin. No. I'm gonna make another prediction. And I hope I'm wrong. But he cares more about the dollar than he does Bitcoin. I'm just saying. During his campaign, Trump included a stop at Bitcoin 2024 in Nashville, where he embraced several key promises aimed at Bitcoiners and the broader crypto community, which distinguished him from previous candidates and resonated strongly with advocates of decentralized finance.
Let's find out what those promises are so that we can remember and hold the orange man's feet to the fire on all of them. Number 1, support for Bitcoin miners in America. He has pledged to protect the burgeoning Bitcoin mining industry within the United States. His commitment to deregulation and support for energy independence aligns with the interest of miners, many of whom rely on stable energy policies and supportive regulatory environments. This focus could help secure the US position as a global leader in Bitcoin mining, fostering economic growth and innovation in blockchain technology. Number 2, Bitcoin strategic reserve.
In a move that would be unprecedented for a sitting president, Trump's campaign discussed the idea of establishing a Bitcoin strategic reserve. Such a reserve could provide a hedge against inflation and currency devaluation aligning with Bitcoin's core appeal as digital gold. By backing this initiative, Trump has shown an openness to treating Bitcoin as a legitimate asset within the National Financial Framework. And number 3, big one, pardon for Ross Ulbricht. Not one more day. That should be the hashtag that all of us are using everywhere. Not one more day. This is just me talking right now. I yeah. I'm pausing to say it. Hashtag not one more day. What do I mean by that? That means that I think that Trump, his transition team should be on the horn in the media and to the Biden administration telling everybody under the sun that Biden needs to pardon this man right now.
And we're not gonna wait for inauguration day. We're not gonna wait for the day fucking after inauguration day. There's no reason in the fucking world this man needs to spend one more day in prison. And Trump has the upper hand. Somebody texted me on or gave me a note on Noster about this because I I put this out there on Noster this morning and say, well, nobody really gives a shit. You know who really does give a shit? Enough people that it could literally do the following. Trump says, hey, Biden, pardon Ross Ulbricht immediately. Don't wait for me.
Don't do it. You do it. If you don't do it, I'll do it. But you don't want this shit to be the albatross around your neck that seals the shitty fucking legacy that you're going to live for whatever much time that the man has left to live. He's pretty old. I mean, you gotta admit, man. I mean, he's pretty old. He's not looking all that great. But his legacy, he does not need the capstone of he could have pardoned Ross Ulbert when there was nothing left to lose because the election was already lost, and he still didn't do it. Do you have any idea how that would make the Democrat party look for the next 10 years?
Especially if we just kept hammering it and hammering it and hammering it and hammering it. You had the chance to do the right thing, but you wouldn't do it. You waited for Trump. You waited for until January it's gonna be January 20th this year, I do believe. That you waited for almost 3 months and kept this man in jail and made him wait, so Trump could sit down in the chair and sign the executive order himself. No. The Biden administration could be made to look so foolish that it actually bleeds over into the Democrat party forever. And all Trump has to do is say, I need president Biden while he is still president before I take the chair to pardon Ross Ulbricht. He needs to speak it loud on CNBC, CNN, NBC, MSNBC, Fox News, whoever.
Rogan go back on Rogan and say it. And just demand that the Biden administration pardon Ross Olbericht today and not wait one day more. Not one more day. Not a single day more. This man needs to be out of jail right fucking now. Number 4. Opposition to central bank digital currencies. Trump's campaign included strong opposition to the creation of a Federal Reserve controlled CBDC, citing concerns about government overreach and loss of individual financial autonomy. Many in the Bitcoin community see CBDCs as antithetical to the principles of decentralized finance.
Trump's alignment with this viewpoint has bolstered his appeal among Bitcoiners who prioritize privacy and freedom from state controlled monetary systems. 5. Number 5. A simplified tax code for digital assets. While not explicitly part of his campaign, Trump's emphasis emphasis on simplifying tax codes has led many to speculate that his administration could enact policies to make digital asset taxation less burdensome. By easing the tax reporting process for cryptocurrency holders, Trump's administration could foster greater adoption and legal clarity for investors. I see what Bitcoin Magazine did here. He's never actually promised a simplified tax code for digital assets. But, hey, what the hell? Might as well slip that son of a bitch on in there. Alright. As Bitcoin adoption is on the rise, Trump's presidency could mark a pivotal moment for Bitcoin in America.
The growing alliance between Bitcoin's ideals of decentralization and Trump's policies on economic freedom suggest a promising road for Bitcoin under the next administration. Sure. I hope so. I do. But remember the most important promise here on day 1 needs to be the release of Ross Ulbricht, but not one more day. Hashtag not one more day. Hashtag not one more day. Throw it out there. Force Trump's hand. Say, hey, Trump, you need to tell Biden, get this guy out of jail. Not one more day. Hashtag not one more day. Okay. It's just not the presidency.
Yesterday, last night, we saw a swing in something else. From Zoltan, Vardy, Cointelegraph, Republican Senate majority signals more pro crypto congress. Oh, so now we've got the senate going on here. Alright. Let's find out. The Republican party has secured majority control of the United States senate. God, talk about insult to injury. Offering a promising outlet for cryptocurrency regulations in the world's largest economy. Republicans took control after securing key senate seats in Ohio and West Virginia according to the AP. That's the Associated Press.
Over 240 pro crypto candidates were elected to the house of representatives and the senate in a historic achievement to clear crypto regulations in the United States according to I cannot pronounce this woman's name. I think it's Anastasia Platinovka. I did my best. The CEO and cofounder of Fidium, a regulatory and blockchain infrastructure firm focused on institutions. Platikova, I guess. It she says, it paves the way for harmonized crypto regulations that will drive innovation, boost competition, and incentivize talent to return. The United States crypto industry worked for years to make it happen, and I eagerly await seeing the deliverable implemented. Okay. Only half suit speak there. A Republican led senate, paired with the presidential administration that supports crypto, could lead to innovation friendly regulations.
This could help the US regain ground as a global leader, particularly as Europe moves closer to implementing its comprehensive regulatory framework, the MICA bill, also known as markets and crypto asset regulation, by the end of this year, which is getting coming up, guys. Coming up. A Republican senate may finally bring clarity to US crypto regulations according to Andy Lianne, author and intergovernmental blockchain expert. What the hell does an intergovernmental blockchain expert do anyway? Well, apparently, they sit around and say the following quote, the Republican focus on reducing government oversight could lead to a lighter regulatory touch, which would be a win for the industry. A Republican senate could mean fewer aggressive anti crypto moves and more opportunities for open discussions about how to support innovation, end quote. It's always about innovation. Oh, we gotta innovate. Well, whatever. The new senate may review delayed business friendly bills like the Digital Commodities Consumer Protection Act, which would grant the Commodity Futures Trading Commission, the CFTC, exclusive jurisdiction over digital asset trading.
Oh, the crypto industry is also hoping to see the approval of the Bitcoin Act. Championed by Wyoming Republican senator Cynthia Lummis, the bill proposes the creation of a strategic Bitcoin reserve for the United States, making it the 1st nation to use it as a savings technology. The bill cited the United States' soaring inflation rate and the national debt reaching unprecedented heights as reasons for the adoption of Bitcoin reserves to bolster the country's balance sheet. Controlling the senate is at least as important for the future of crypto regulations as the president according to James Davies of Crypto Valley Exchange. This could significantly change the Securities and Exchange Commission's oversight of the crypto space as Davies told Cointelegraph, quote, this shift changes the SEC overnight, which has proven to be as impactful as, if not more than, the SEC chair.
Now we await public announcements from Trump on SEC nominations to fulfill his promises to the US crypto community that supported him, end quote. Davies said he hopes that Chris Giancarlo, the former CFTC chair, will be nominated for Gensler's seat at the SEC. Well, that would be really interesting, honestly. Will he do it? We don't know. We don't know what Trump's gonna do. We we have no idea. I mean, he says he's gonna do stuff. Will he do them? We have to wait and see. Alright? Unless the unless the check clears and is deposited in my bank account, as far as I'm concerned, that check doesn't exist. And the same holds true for damn near everything else in my life. I just can't trust anybody anymore. I have to actually see them do the thing.
And I hope the next thing for all you guys that are interested in farming, interested in ranching, interested in food, interested in soil, interested in the environment, and not interested in the environment in some kind of shady, shit ass, carbon's gonna kill us all kind of way. No. I mean, how about we stop dumping fucking poisons over millions of acres of America's best farmland? Well, hold on for it because Senator Massie is it Senator or Congressman? Let's just say Congressman Massie is for secretary of agriculture. Well, the Kentucky congressman addresses talk of the Trump administration role.
Austin Horn and David Cantonese or Catonese for the Lexington Herald Ledger. The 4th congressional district representative Thomas Massie. Yeah. Rep. Alright. Thomas Massie from Kentucky said Wednesday that he's open to taking a new role in the incoming Donald Trump administration, potentially leading the department of ag or the USDA. Quote, president Trump's resounding victory secured a mandate for big ideas like reversing chronic disease, conserving our land, and empowering American farmers, Massey said in a statement first released to the Herald letter oh, sorry, the Herald Leader. His campaign unified many neglected constituencies from the Amish who just wanna be left alone to grow healthy food to parents who want more access to nutritious food for their own families.
I stand ready and willing to help the president with any part of his bold agenda to focus on the health and well-being of Americans, but I have received no commitments nor offers from President Trump's team or any discussion of the transitions or rather any discussions of the transitions are premature. The speculation over Massie began with Joel Salatin, an iconoclast author and speaker in the farming community who calls himself the lunatic farmer. The potential spread quickly on Twitter, the social media website owned by Trump ally Elon Musk. And in a blog post, Joel Salatin wrote that he's been contacted by the Trump transition team for an advisor role in the United States Department of Agriculture and that Massey will be the secretary.
Well, this is coming out of Joel Salatin. Interesting. Quote, I've been contacted by the Trump transition team to hold some sort of position within the USDA and have accepted one of the 6, quote, adviser to the secretary, end quote, spots. My favorite congressman, Thomas Massie from Kentucky, has agreed to go in as secretary of agriculture, Salatin wrote. Uh-oh. It sounds like somebody's letting the cat out of the bag a little too soon. Massey, who has become friendly with Robert Kennedy junior during the campaign, has had a topsy-turvy relationship with president-elect Trump, only endorsing him late in the 2024 campaign. But Kennedy's closeness with Massie have revived the relationship in recent weeks, leading to the possibility that the Northern Kentucky congressman could enter the new administration next year. Alright. So it sounds to me like Joel Salatin jumped the gun and spilled some beans a little too early, and Thomas Massie's having to walk that shit back saying I haven't heard a thing.
Alright. I almost expect more of this, but let's leave who spilt what, was it too soon out of the picture. Are you fucking serious? Thomas Massie as USDA secretary and Joel Salatin as one of the 6 advisory positions? Are are you kidding me? The other guy that needs to be in there is Gabe Brown, g a b e Brown. Gabe Brown from North Dakota. That man knows more about cover cropping than anybody on the face of this planet. And if him and Joel Salatin were together and a couple of other people that I could probably name, holy shit!
Bear crop science better get their shit together and start doing things the right way instead of just saying, hey, y'all chemists got anything new we can pour on millions of acres of land and possibly cause some fucking cancer? I mean, did anybody got anybody got anything? Is there anything? How about we work with biology? How about we work the way that our ancestors used to work the soil? Did we really need glyphosate? I'm sure if you're a modern farmer and you're listening to me right now, you hate everything that I'm saying because, of course, you need to use glyphosate. I get it. We're stuck in this particular mode of agriculture right now. And it's going to take a lot of pain and a lot of suffering to break out of this particular mode of agriculture, but it has to be done. I'm not telling farmers right now that they've gotta quit using this shit.
I think I really think that this is the way we go. We get Thomas Massie as USDA. We get Joel Salatin in there. If I have my dream, you know, other co captain of that advisory team, Gabe Brown, in there, then maybe we could at least get farmers who depend on chemical ag and they do. Right? Most of most of them do. There's they're and I'm not blaming them. They got they got suckered into it and they can't escape. If we could get them to do this, I think they would turn themselves around inside of 5 years and stop using this shit all by themselves without anybody telling them that they had to. Set aside a single acre of your general production.
Right on the corner, the one that's closest to where you start your operations in the morning. Hopefully, your, you know, your your farmhouse is right next to the fields that you farm. Just pick the corner of an acre on the corner out there by the highway right where you your driveway meets the highway where your mailbox is and just section off an acre of land and just work with the biology there. Do it for, like, 2 or 3 years. Do the measurements. I mean, do do how like, is it producing more? And if it's not producing more, what are your input cost on that? It should be damn near nothing because you're not using any of these chemistries. Many, many farmers that have been asked to do this and those that have, all they've discovered is that it's a better way to farm. And when they figure out that they don't have to run 18 passes with their tractor through 1,000 acres, which, you know, that racks up a lot of diesel burnt.
And that they're not spreading, you know, this application of glyphosate 3 times during the year. They're not doing burn down. They're not having to do any of this other bullshit because they're doing all natural practices because they saw it work on this one acre of land and then they go, you know what? Let's do 10 acres. And then after that, they go, shit, man. Let's do a 100 acres. And all of a sudden, they're getting many of these farmers report that they're getting the exact same or slightly lower yields.
But when they actually run the math of how little diesel they burnt, and they didn't have to buy all this chemistry, and they were working with the soil, their input cost fell so rapidly and so precipitously that they're actually making more money growing less yield than their neighbors. But they have to be shown. They can't be forced. You can't do that to them. You will destroy their operations. If we do were to tell them, hey. Bear crop science is now illegal in the United States and you can't use glyphosate or whatever. Right? GMO seeds and all that shit. If you tell them they can't do any of that, you're going to have a big, big problem. Farmers are just gonna go out of business immediately.
They have to be shown that it works, and there's nobody better to do that than somebody like Joel Salatin and Gabe Brown. And the the the projects that they could put together to be able to enable people to go out into the fields and show these farmers, kid, just let's get this half acre. Let's just put this acre aside. And let's do this, and then we'll do this, and we'll do this, and then we'll do this. And then after 5 years, the I mean, yeah, it's gonna take a while. But after 5 years, they look at this plot of land going, shit. Why am I not doing this over a 1000 acres? And then, boom, it starts happening. That's exactly what happened to Gabe Brown. If you have not read the story of Gabe Brown, you need to go get dirt to soil.
Just look up Gabe Brown, g a b e, Brown and dirt to soil. Find his book. It's not a long read. You can read it in a single day and you will be amazed at what he became amazed about. Let's run some of these post electoral numbers. CNBC Futures and Commodities. Oil. West Texas Intermediate is down a quarter to $71.82. Brent Norsey is down a half to $75 a barrel. Natural gas is doing what it does. 2.43 percent to the upside. Gasoline is down a third to $2.3 a gallon. All of your shiny metal rocks are pissing in the wind today. It's a bloodbath. Oh my god. Gold is down 3 full points.
That's not against Bitcoin. That's against the US dollar. Silver is down 4 a half percent, back down to 3129. Platinum is down 1.16%. Copper is down 5.3. Palladium is down 3.67. Ag is pretty much fully mixed today. The biggest loser is chocolate. 3.7 percent to the downside. And the biggest winner today is corn. 1.91% to the upside. Live cattle? Up a third. Lean hogs? It's up 1 and a quarter. Feeder cattle? Up 3 quarters of a point. The Dow and the rest of the equities or the legacy equity indexes are all going nuts. All time highs for the Dow, the S and P, the Nasdaq.
Holy shit. The Dow, it's up 3 and a half points. The S and P is up 2 and a half. Nasdaq is up 2 3 quarters. And the S and P Mini is up just over 4 full percentage points. Bitcoin's doing, well, what Bitcoin does. It's doing a face ripper. $75,890 a coin is a 1 and a half $1,000,000,000,000 market cap. We can now get 28 point 5 ounces of shiny metal rocks with your 1 Bitcoin, of which there are 19,000,778,471.11 of, and guess what fees are doing? Remaining low. 0.05 BTC taken on average in fees on a per block basis. And there's only 75 blocks carrying a 179,000 unconfirmed transactions waiting for clearance at high priority rates of 4 satoshis per v byte. Low priority is gonna get you in at 3.
Now, hash rate. 1 week moving average seems to be 708.7 exahashes per second. So a little lower than yesterday. Remember, remember the 5th November. And remember to donate to the show. If you like what you hear, if you think I'm bringing you value to your daily drive, where wherever it is that you're going, work, lunch, doing gardening. If you think I'm giving you value, then please give value back in the form of Satoshis. You can do that with any podcasting 2.0 app. You can throw me boostograms. You can throw me streaming satoshis. And it all goes to keeping me here behind the mic where I can tell people like Palpi, who gave me 5,000 satoshis, Thank you for the 5,000 satoshis. And what does Palpi say?
He just says thanks. Well, thanks, man. Dark with 2121 says, your comment from, let's see, About Ethereum being a dumpster fire inside a circus tent with a bunch of clown shows dancing around into some funny shit. Please take my sass. Yeah. I like that one too. Okay. Agri Chute with 555 says, very live reading. And that's it for the weather report. Welcome to part 2 of the news you can use and whoopty, it's gonna be a short as shit show today because I've only got 2 left. First up, Robinhood, Kraken, and Paxos are joining forces.
Oh my god. It's like the fucking wonder twins. For a new stable coin network. Yes. Remember what I was saying about stable coins? It's the new shit coin. It is it is par excellence. So you thought alt coins were bad. You thought shit coins were bad. You thought 20 17, 2016, and 20 18 was just nothing but scam, malicious motherfuckers out there doing everything that they can to take your money. Well, you ain't seen nothing yet. Atlas 21 says that several companies from the cryptocurrency and traditional finance sectors have announced the launch of, get it, Global Dollar Network, the GDN.
Oh, man. It almost sounds like a bad bad network, man, like for television. The initiative aims to improve the adoption of US dollar peg stablecoins in compliance with current regulations. Among the companies involved, Robinhood, Galaxy Digital. Yeah. You knew that was coming. Kraken, Anchorage Digital, and Paxos. According to a statement released by Paxos, the global dollar network was created to support the global adoption and use of stablecoins. The main objective of the network is to support the USDG stablecoin issued by Paxos on November 1, 2023.
The income generated from USDG reserves, which, like other stablecoins are US Treasury securities, will be distributed among participants based on how these companies contribute to promoting USDG adoption. Man, this sounds bad already. Currently, USDG is exclusively available on the shitcoin number 1 blockchain with future plans to expand to additional blockchains based on regulatory developments. The stablecoin issuance is managed by Paxos through its Singaporean headquarters adhering to the stablecoin regulatory network established by the Monetary Authority of Singapore in August of 2023. The reserves ensuring USDG's stability are managed by Singapore's leading banking institution, DBS Bank.
Paxos has confirmed that the stablecoin is backed by US dollars, short term government securities, and other easily liquid liquefiable assets. Liquidable They said liquidable. Easily liquidable. Liquidable. No. Liquidatable. Yeah. Whatever. The global dollar network is accessible to qualified entities such as custodians, exchanges, and fintech companies, which can join by invitation only. The network's goal is to promote stablecoin use by integrating new participant participants into the crypto financial ecosystem. It just gets better. The launch occurs in a market currently dominated by Tether and USDC, which represents 56% and 27% of stablecoins on shitcoin number 1 blockchain respectively, according to data provided by Defilelama.
Overall, USDT holds 69.53% of the current stablecoin capital on Ethereum, which amounts to $84,000,000,000. It's not going to go away. You thought that we would only need USDT, and then here comes USDC. And then, okay, well, I guess a use case was made. But the biggest use case by far for all these stablecoins is the fact that they're the only people willing to actually buy an appreciable amount of our national debt. United States, by issuing securities, is basically printing debt. And these guys are buying it. They are buying it hand over fist. That's got to make the US Treasury very, very happy. They've got a customer. So here's what happens.
The US Treasury sits around their table. The guys, you know, guys and gals at the US Treasury going, holy shit. There's a whole bunch of suckers out there that that are buying this now. I mean, it's like, we thought this party was over. And then somebody else at the table says, oh, hell no. This party is just picking up. Stablecoin issuers are going to come out of the woodwork like termites in a burning house. It's going to be ugly. But here's the deal. They are going to physically buy United States debt. It doesn't matter if they're in Singapore. It doesn't matter if they're United States, you know, companies.
It doesn't matter if they're, I don't know, based in Brazil. It's not going to matter. The it is now precedent that the backing function of stablecoins is US securities. So therefore, everybody's going to do it. It's precedent. Right? So the United States Treasury is gonna be looking at at SEC going, you know, I don't I don't really mind if you put the screws to, like, you know, the Bitcoiners and whatever else. But these stable coins, you got to keep them around. They're the only people willing to buy our debt. France doesn't want it. We won't even allow Russia to buy it. China has been selling, you know, their treasuries for, you know, years now. They've been trying to offload that shit. Nobody wants our crappy ass debt. But here comes stablecoins. Here comes stablecoins.
When altcoins came, when the scam what? Scambase? Scambrian, explosion occurred in 2016 through 2018. You had, like, the proliferation of 20,000 shitcoins, but none of them were actually going to do anything but scam retail out of their money. But here comes stablecoins. And they are willing to take whatever however they get their money, and we won't I'm I'm not gonna go into that, but they're they've got money. And they're spending that money. And what are they spending their money on? They're stacking treasuries. Treasury is gonna tell SEC, you leave them alone, man.
You don't leave them alone or if you make this a big deal, it's they're not gonna be buying our debt and we need to offload the debt. Don't give a shit who buys the debt. As long as they give us something in return for that debt, we will we will paper their ass with securities. And they will print and they will print and they will print. And more and more stable coin companies will come up, and you'll have stable coins just for Austin. You'll have a stable coin just for Tucson. You'll have a stable coin for that dude's cabin across the river in fucking Brazil. I swear to god. They're going to be everywhere. It's probably going to make the Cambrian explosion look like child's play, but we don't exist there.
We exist in bitcoin and lightning, and here we go. Bolt's web app version 1.5.0 has been released. Bolt 12 swaps swappies. Boltz b o l t z b o l t z is a non custodial Bitcoin bridge that enables swaps between different Bitcoin layers. Quote, we just shipped a little something something, bolt 12 swoops, announced bolts. This bolt's web app release adds bolt 12 support to submarine swaps, which is swapping into Lightning, the ability to fetch BIP 353 with DNS SEC Prover, Banco Libre, and StashPay to integrations in Ledger and Trezor support among other things. Damn, it sounds like a really big, big improvement here. Additionally, Bolt's back end version 3.8.0 brings support for the new CLN hold invoice plugin written in Rust, The ability to renegotiate amounts for chain swaps in case they are over or underpaid.
It enables the creation of chain swaps with any amount. It allows for paying bolt 12 invoices in submarine swaps and introduces an API endpoint for fetching invoices for offers. Bolt 12 is an upgrade to the lightning network that enables things like reusable payment requests, increased receiver privacy, and more robust censorship resistance. Let's see if there's anything different. Everything else seems to be way above my pay grade. So Bolt's Bolt's is is damn. Bolt 12. That's gonna be nice. Alright. So that's all I got for you today. I told you it was gonna be a shorter show. We're at 42 minutes. And honestly, ladies and gentlemen, I've said everything I need to say about the elections.
A, that I'm wrong or was wrong yesterday. And good. Good. I'm glad. I didn't want to wait 4 weeks to figure out who the hell was gonna sit in the chair, so I'm I'm literally okay with it. And I gave you the news. So there's really nothing else to to do around here except you gotta hold orange man's feet to the fire and spread spread it. It we've not one more day. Not one more day or not a single day more. Whatever whatever you wanna put. But make sure Trump hears it. Make sure Elon hears it. Make sure anybody who's, like, thing or part of the Trump transition team hears it that Trump needs to call Biden and tell Biden to pardon Ross Ulbricht today.
Not tomorrow. Not the day after. Not sometime next week. And not twice on Sunday, once today right fucking now. There's no reason in the world for that man to sit any not one more day in jail. It's absolutely ridiculous. There's no reason for it. And Trump can get a lot of play out of this. Because if he were to make the challenge, challenge, You've got to challenge the Biden administration to release Ross Ulbricht right now. And if they don't do it, if they don't do it, if they make Ross Ulbricht wait one more day in jail, then Trump gets to point at the Democrat party and say, they want to imprison you unfairly.
I know it's hyperbole, but guess who plays that game? The Democrats have been playing hyperbolic functionality for years now. Oh, you don't like Kamala? You're a Nazi white supremacist racist. Well, fuck you. I am not a Nazi. I'm not a white supremacist, and I'm not a goddamn racist. I don't like Kamala because she's a fucking moron. Right? I mean, if now if you wanna cause me you know, call me a, fucking moronist, well, I guess so. I guess I'd be guilty of that. It has nothing to do with race or anything. They've been so hyperbolic for so long. I'd like to see them eat a little crow.
Just just a little bit of their own fucking medicine. And Trump has the ability to do it right now is to issue a national challenge in the media several times to the point that nobody can escape it. Hashtag not one more day. Free Ross. Not one more day. Free Ross. Not one more day. Not one more day. Not one more day. Not one more day. Not one more day. Not one more day. Not one
Good morning. This is David Bennett, and this is Bitcoin and, a podcast where I try to find the edge effect between the worlds of Bitcoin, gaming, permaculture, podcasting, and education to gain a better understanding of all. Edge effect is a concept from ecology describing a greater diversity of life where the edges of 2 systems overlap. While species from either system can be found at the edge, it is important to note there are species in the overlap that exist in neither system, and that is what I seek to uncover. So join me in discovering the variety of things being created as Bitcoin rubs up against other systems. My God almighty, it's 1:15 PM.
It's 1:15 PM. I am late. I am late. I am late today. I got a story about that. I'll get to it in a second. But it's the day after the Trumpists. Trumpists has won the election. I have never, never, possibly never been more wrong about any kind of predictions that I've ever made in my entire life, and I take that right on the chin. I'm totally fine with it. You know, could have been a lot worse, right? I said yesterday that we would not know who the hell was going to sit in that chair until at least today, if not a couple of weeks from now. And I can't tell you how happy I am to be wrong. Wrong. You were wrong, brother. I was totally wrong. But it is November 6, 2024 and this is episode 988 of Bitcoin and orange man.
That's right, orange man. It's a lot some people have said that, well, I can't believe you hate orange man. I don't hate him. He's a politician. I just don't trust him. I mean, but I'll tell you one thing, man. We've got some news out of USDA or well, I'm not sure if it's been confirmed, but we're gonna get to that story in a second. USDA is gonna be shaken up. If Kennedy goes to the health and human Department of Health and Human Services and is over NIH and the CDC and whatever the NIST or what was it, National Institutes of Immunological and something that, whatever Fauci was over, he gets to be the guy over all of that shit. There's gonna be some all kinds of potential changes that we see coming. And I say potential because, you know, people say they're going to do things, and then they don't.
Sometimes they do, sometimes they do some of it, sometimes they try all of it, and sometimes they try all of it and none of it works. I mean, it's just we're gonna it's going to be a, well, it's going to be a grab bag of whatever the hell we can get out of this next 4 years. But hey, like I said, never never been happier to be as wrong as I was on this show yesterday, I can tell you that. Now, why the hell am I late today? Well, I had a doctor's appointment. And while I was pulling up into the, into the, parking lot, there's rollers behind me. And if you don't know what rollers are, it's a reference to, the Blues Brothers, it's cop rollers, you know, the cop lights. They roll, you know, the rollers. Anyway, so I get pulled over.
Just happened to be exactly where it was that I wanted to be that I'm getting, you know, pulled over at. And I ain't got my license with me. I don't have my updated, insurance forms on me, so I had to download that shit out of progressive on my phone. I got a taillight that he says is out. It's just dim, and that's the whole reason I got pulled over in the first freaking place. And for the first time since I've lived in Washington state, I got pulled over and I had no idea that I had to actually have a piece of paper that was the registration of the car, which was 45 days out because my wife didn't give me the the the the mail that said, hey, you need to redo the registration.
Because in Texas, when you get pulled over for the, like, the last 25 years, they changed it. You didn't need to show them registration because registration was actually just you had to show registration when you, when you went to go pay well, alright. Here's where it worked. You went to the tax office in Texas and you took to them a little letter saying that you got your car inspected. Because while you don't need an inspection in Washington state, you do in Texas. But when you show them that letter, they give you your registration sticker, which is what you put up in the windshield. So your registration is on the car at all times. So digging through all this shit. It is like this guy's got must be going. What is wrong with this man?
It's like he I just dig it through his glove compartment. There's, like, cables and shit coming out, and he doesn't have his stuff, and this isn't there, and he's driving without a license. And I am honestly surprised that I didn't go to jail because the amount of violations that I racked up in that 5 minutes was more than I've ever racked up at one time in one place ever in my entire life. My god. Talk about insanity, man. Yeah. I shoulda had it all, but, dude, you don't know what it actually is. You nobody is gonna go to a website saying, hey. If I get pulled over in Washington state because I just moved here, what do I what exactly am I going to have to show? You just don't think of it when you've lived in the same state for decades. Right? You change state, you don't know, you don't you have no idea what the hell is going on. Anyway, he lit me off with a warning if you can believe it.
Wow. So anyway, really late, really late today, but let's get into the news. Pro Bitcoin, Donald Trump has become the 47th president of the United States. Bitcoin Magazine written by, well, Bitcoin Magazine. Donald J. Trump has officially emerged victorious, claiming the presidency for a second time as the 47th president of the United States with a critical victory in Pennsylvania and a decisive win in Wisconsin, clump took clump. Trump clinched the presidency by surpassing the number 270, which is the amount of electoral votes needed to secure the return to the White House.
These key battleground states, which were closely contested throughout the campaign, proved pivotal in pushing Trump over the threshold, solidifying the victory. Trump's final electoral tally reflects significant support across much of the Midwest and the South with additional wins in states such as Ohio and Florida reinforcing his lead. Yeah. Like he wasn't gonna carry Florida. Vice President Kamala Harris, despite strong performances in traditional Democratic strongholds like California and New York, fell short as Pennsylvania and Wisconsin tipped in favor of Trump, marking the turning point in the race.
Trump also garnered a majority of the popular vote with over 51%, signaling a renewed mandate from voters who prioritized his economic policies and focused on deregulation. So it's a milestone for Bitcoin. Let's find out how this election victory also marks the historic inauguration of the 1st openly pro Bitcoin president in the United States. Hey, guys, just because he said he likes Bitcoin doesn't actually mean he likes Bitcoin. No. I'm gonna make another prediction. And I hope I'm wrong. But he cares more about the dollar than he does Bitcoin. I'm just saying. During his campaign, Trump included a stop at Bitcoin 2024 in Nashville, where he embraced several key promises aimed at Bitcoiners and the broader crypto community, which distinguished him from previous candidates and resonated strongly with advocates of decentralized finance.
Let's find out what those promises are so that we can remember and hold the orange man's feet to the fire on all of them. Number 1, support for Bitcoin miners in America. He has pledged to protect the burgeoning Bitcoin mining industry within the United States. His commitment to deregulation and support for energy independence aligns with the interest of miners, many of whom rely on stable energy policies and supportive regulatory environments. This focus could help secure the US position as a global leader in Bitcoin mining, fostering economic growth and innovation in blockchain technology. Number 2, Bitcoin strategic reserve.
In a move that would be unprecedented for a sitting president, Trump's campaign discussed the idea of establishing a Bitcoin strategic reserve. Such a reserve could provide a hedge against inflation and currency devaluation aligning with Bitcoin's core appeal as digital gold. By backing this initiative, Trump has shown an openness to treating Bitcoin as a legitimate asset within the National Financial Framework. And number 3, big one, pardon for Ross Ulbricht. Not one more day. That should be the hashtag that all of us are using everywhere. Not one more day. This is just me talking right now. I yeah. I'm pausing to say it. Hashtag not one more day. What do I mean by that? That means that I think that Trump, his transition team should be on the horn in the media and to the Biden administration telling everybody under the sun that Biden needs to pardon this man right now.
And we're not gonna wait for inauguration day. We're not gonna wait for the day fucking after inauguration day. There's no reason in the fucking world this man needs to spend one more day in prison. And Trump has the upper hand. Somebody texted me on or gave me a note on Noster about this because I I put this out there on Noster this morning and say, well, nobody really gives a shit. You know who really does give a shit? Enough people that it could literally do the following. Trump says, hey, Biden, pardon Ross Ulbricht immediately. Don't wait for me.
Don't do it. You do it. If you don't do it, I'll do it. But you don't want this shit to be the albatross around your neck that seals the shitty fucking legacy that you're going to live for whatever much time that the man has left to live. He's pretty old. I mean, you gotta admit, man. I mean, he's pretty old. He's not looking all that great. But his legacy, he does not need the capstone of he could have pardoned Ross Ulbert when there was nothing left to lose because the election was already lost, and he still didn't do it. Do you have any idea how that would make the Democrat party look for the next 10 years?
Especially if we just kept hammering it and hammering it and hammering it and hammering it. You had the chance to do the right thing, but you wouldn't do it. You waited for Trump. You waited for until January it's gonna be January 20th this year, I do believe. That you waited for almost 3 months and kept this man in jail and made him wait, so Trump could sit down in the chair and sign the executive order himself. No. The Biden administration could be made to look so foolish that it actually bleeds over into the Democrat party forever. And all Trump has to do is say, I need president Biden while he is still president before I take the chair to pardon Ross Ulbricht. He needs to speak it loud on CNBC, CNN, NBC, MSNBC, Fox News, whoever.
Rogan go back on Rogan and say it. And just demand that the Biden administration pardon Ross Olbericht today and not wait one day more. Not one more day. Not a single day more. This man needs to be out of jail right fucking now. Number 4. Opposition to central bank digital currencies. Trump's campaign included strong opposition to the creation of a Federal Reserve controlled CBDC, citing concerns about government overreach and loss of individual financial autonomy. Many in the Bitcoin community see CBDCs as antithetical to the principles of decentralized finance.
Trump's alignment with this viewpoint has bolstered his appeal among Bitcoiners who prioritize privacy and freedom from state controlled monetary systems. 5. Number 5. A simplified tax code for digital assets. While not explicitly part of his campaign, Trump's emphasis emphasis on simplifying tax codes has led many to speculate that his administration could enact policies to make digital asset taxation less burdensome. By easing the tax reporting process for cryptocurrency holders, Trump's administration could foster greater adoption and legal clarity for investors. I see what Bitcoin Magazine did here. He's never actually promised a simplified tax code for digital assets. But, hey, what the hell? Might as well slip that son of a bitch on in there. Alright. As Bitcoin adoption is on the rise, Trump's presidency could mark a pivotal moment for Bitcoin in America.
The growing alliance between Bitcoin's ideals of decentralization and Trump's policies on economic freedom suggest a promising road for Bitcoin under the next administration. Sure. I hope so. I do. But remember the most important promise here on day 1 needs to be the release of Ross Ulbricht, but not one more day. Hashtag not one more day. Hashtag not one more day. Throw it out there. Force Trump's hand. Say, hey, Trump, you need to tell Biden, get this guy out of jail. Not one more day. Hashtag not one more day. Okay. It's just not the presidency.
Yesterday, last night, we saw a swing in something else. From Zoltan, Vardy, Cointelegraph, Republican Senate majority signals more pro crypto congress. Oh, so now we've got the senate going on here. Alright. Let's find out. The Republican party has secured majority control of the United States senate. God, talk about insult to injury. Offering a promising outlet for cryptocurrency regulations in the world's largest economy. Republicans took control after securing key senate seats in Ohio and West Virginia according to the AP. That's the Associated Press.
Over 240 pro crypto candidates were elected to the house of representatives and the senate in a historic achievement to clear crypto regulations in the United States according to I cannot pronounce this woman's name. I think it's Anastasia Platinovka. I did my best. The CEO and cofounder of Fidium, a regulatory and blockchain infrastructure firm focused on institutions. Platikova, I guess. It she says, it paves the way for harmonized crypto regulations that will drive innovation, boost competition, and incentivize talent to return. The United States crypto industry worked for years to make it happen, and I eagerly await seeing the deliverable implemented. Okay. Only half suit speak there. A Republican led senate, paired with the presidential administration that supports crypto, could lead to innovation friendly regulations.
This could help the US regain ground as a global leader, particularly as Europe moves closer to implementing its comprehensive regulatory framework, the MICA bill, also known as markets and crypto asset regulation, by the end of this year, which is getting coming up, guys. Coming up. A Republican senate may finally bring clarity to US crypto regulations according to Andy Lianne, author and intergovernmental blockchain expert. What the hell does an intergovernmental blockchain expert do anyway? Well, apparently, they sit around and say the following quote, the Republican focus on reducing government oversight could lead to a lighter regulatory touch, which would be a win for the industry. A Republican senate could mean fewer aggressive anti crypto moves and more opportunities for open discussions about how to support innovation, end quote. It's always about innovation. Oh, we gotta innovate. Well, whatever. The new senate may review delayed business friendly bills like the Digital Commodities Consumer Protection Act, which would grant the Commodity Futures Trading Commission, the CFTC, exclusive jurisdiction over digital asset trading.
Oh, the crypto industry is also hoping to see the approval of the Bitcoin Act. Championed by Wyoming Republican senator Cynthia Lummis, the bill proposes the creation of a strategic Bitcoin reserve for the United States, making it the 1st nation to use it as a savings technology. The bill cited the United States' soaring inflation rate and the national debt reaching unprecedented heights as reasons for the adoption of Bitcoin reserves to bolster the country's balance sheet. Controlling the senate is at least as important for the future of crypto regulations as the president according to James Davies of Crypto Valley Exchange. This could significantly change the Securities and Exchange Commission's oversight of the crypto space as Davies told Cointelegraph, quote, this shift changes the SEC overnight, which has proven to be as impactful as, if not more than, the SEC chair.
Now we await public announcements from Trump on SEC nominations to fulfill his promises to the US crypto community that supported him, end quote. Davies said he hopes that Chris Giancarlo, the former CFTC chair, will be nominated for Gensler's seat at the SEC. Well, that would be really interesting, honestly. Will he do it? We don't know. We don't know what Trump's gonna do. We we have no idea. I mean, he says he's gonna do stuff. Will he do them? We have to wait and see. Alright? Unless the unless the check clears and is deposited in my bank account, as far as I'm concerned, that check doesn't exist. And the same holds true for damn near everything else in my life. I just can't trust anybody anymore. I have to actually see them do the thing.
And I hope the next thing for all you guys that are interested in farming, interested in ranching, interested in food, interested in soil, interested in the environment, and not interested in the environment in some kind of shady, shit ass, carbon's gonna kill us all kind of way. No. I mean, how about we stop dumping fucking poisons over millions of acres of America's best farmland? Well, hold on for it because Senator Massie is it Senator or Congressman? Let's just say Congressman Massie is for secretary of agriculture. Well, the Kentucky congressman addresses talk of the Trump administration role.
Austin Horn and David Cantonese or Catonese for the Lexington Herald Ledger. The 4th congressional district representative Thomas Massie. Yeah. Rep. Alright. Thomas Massie from Kentucky said Wednesday that he's open to taking a new role in the incoming Donald Trump administration, potentially leading the department of ag or the USDA. Quote, president Trump's resounding victory secured a mandate for big ideas like reversing chronic disease, conserving our land, and empowering American farmers, Massey said in a statement first released to the Herald letter oh, sorry, the Herald Leader. His campaign unified many neglected constituencies from the Amish who just wanna be left alone to grow healthy food to parents who want more access to nutritious food for their own families.
I stand ready and willing to help the president with any part of his bold agenda to focus on the health and well-being of Americans, but I have received no commitments nor offers from President Trump's team or any discussion of the transitions or rather any discussions of the transitions are premature. The speculation over Massie began with Joel Salatin, an iconoclast author and speaker in the farming community who calls himself the lunatic farmer. The potential spread quickly on Twitter, the social media website owned by Trump ally Elon Musk. And in a blog post, Joel Salatin wrote that he's been contacted by the Trump transition team for an advisor role in the United States Department of Agriculture and that Massey will be the secretary.
Well, this is coming out of Joel Salatin. Interesting. Quote, I've been contacted by the Trump transition team to hold some sort of position within the USDA and have accepted one of the 6, quote, adviser to the secretary, end quote, spots. My favorite congressman, Thomas Massie from Kentucky, has agreed to go in as secretary of agriculture, Salatin wrote. Uh-oh. It sounds like somebody's letting the cat out of the bag a little too soon. Massey, who has become friendly with Robert Kennedy junior during the campaign, has had a topsy-turvy relationship with president-elect Trump, only endorsing him late in the 2024 campaign. But Kennedy's closeness with Massie have revived the relationship in recent weeks, leading to the possibility that the Northern Kentucky congressman could enter the new administration next year. Alright. So it sounds to me like Joel Salatin jumped the gun and spilled some beans a little too early, and Thomas Massie's having to walk that shit back saying I haven't heard a thing.
Alright. I almost expect more of this, but let's leave who spilt what, was it too soon out of the picture. Are you fucking serious? Thomas Massie as USDA secretary and Joel Salatin as one of the 6 advisory positions? Are are you kidding me? The other guy that needs to be in there is Gabe Brown, g a b e Brown. Gabe Brown from North Dakota. That man knows more about cover cropping than anybody on the face of this planet. And if him and Joel Salatin were together and a couple of other people that I could probably name, holy shit!
Bear crop science better get their shit together and start doing things the right way instead of just saying, hey, y'all chemists got anything new we can pour on millions of acres of land and possibly cause some fucking cancer? I mean, did anybody got anybody got anything? Is there anything? How about we work with biology? How about we work the way that our ancestors used to work the soil? Did we really need glyphosate? I'm sure if you're a modern farmer and you're listening to me right now, you hate everything that I'm saying because, of course, you need to use glyphosate. I get it. We're stuck in this particular mode of agriculture right now. And it's going to take a lot of pain and a lot of suffering to break out of this particular mode of agriculture, but it has to be done. I'm not telling farmers right now that they've gotta quit using this shit.
I think I really think that this is the way we go. We get Thomas Massie as USDA. We get Joel Salatin in there. If I have my dream, you know, other co captain of that advisory team, Gabe Brown, in there, then maybe we could at least get farmers who depend on chemical ag and they do. Right? Most of most of them do. There's they're and I'm not blaming them. They got they got suckered into it and they can't escape. If we could get them to do this, I think they would turn themselves around inside of 5 years and stop using this shit all by themselves without anybody telling them that they had to. Set aside a single acre of your general production.
Right on the corner, the one that's closest to where you start your operations in the morning. Hopefully, your, you know, your your farmhouse is right next to the fields that you farm. Just pick the corner of an acre on the corner out there by the highway right where you your driveway meets the highway where your mailbox is and just section off an acre of land and just work with the biology there. Do it for, like, 2 or 3 years. Do the measurements. I mean, do do how like, is it producing more? And if it's not producing more, what are your input cost on that? It should be damn near nothing because you're not using any of these chemistries. Many, many farmers that have been asked to do this and those that have, all they've discovered is that it's a better way to farm. And when they figure out that they don't have to run 18 passes with their tractor through 1,000 acres, which, you know, that racks up a lot of diesel burnt.
And that they're not spreading, you know, this application of glyphosate 3 times during the year. They're not doing burn down. They're not having to do any of this other bullshit because they're doing all natural practices because they saw it work on this one acre of land and then they go, you know what? Let's do 10 acres. And then after that, they go, shit, man. Let's do a 100 acres. And all of a sudden, they're getting many of these farmers report that they're getting the exact same or slightly lower yields.
But when they actually run the math of how little diesel they burnt, and they didn't have to buy all this chemistry, and they were working with the soil, their input cost fell so rapidly and so precipitously that they're actually making more money growing less yield than their neighbors. But they have to be shown. They can't be forced. You can't do that to them. You will destroy their operations. If we do were to tell them, hey. Bear crop science is now illegal in the United States and you can't use glyphosate or whatever. Right? GMO seeds and all that shit. If you tell them they can't do any of that, you're going to have a big, big problem. Farmers are just gonna go out of business immediately.
They have to be shown that it works, and there's nobody better to do that than somebody like Joel Salatin and Gabe Brown. And the the the projects that they could put together to be able to enable people to go out into the fields and show these farmers, kid, just let's get this half acre. Let's just put this acre aside. And let's do this, and then we'll do this, and we'll do this, and then we'll do this. And then after 5 years, the I mean, yeah, it's gonna take a while. But after 5 years, they look at this plot of land going, shit. Why am I not doing this over a 1000 acres? And then, boom, it starts happening. That's exactly what happened to Gabe Brown. If you have not read the story of Gabe Brown, you need to go get dirt to soil.
Just look up Gabe Brown, g a b e, Brown and dirt to soil. Find his book. It's not a long read. You can read it in a single day and you will be amazed at what he became amazed about. Let's run some of these post electoral numbers. CNBC Futures and Commodities. Oil. West Texas Intermediate is down a quarter to $71.82. Brent Norsey is down a half to $75 a barrel. Natural gas is doing what it does. 2.43 percent to the upside. Gasoline is down a third to $2.3 a gallon. All of your shiny metal rocks are pissing in the wind today. It's a bloodbath. Oh my god. Gold is down 3 full points.
That's not against Bitcoin. That's against the US dollar. Silver is down 4 a half percent, back down to 3129. Platinum is down 1.16%. Copper is down 5.3. Palladium is down 3.67. Ag is pretty much fully mixed today. The biggest loser is chocolate. 3.7 percent to the downside. And the biggest winner today is corn. 1.91% to the upside. Live cattle? Up a third. Lean hogs? It's up 1 and a quarter. Feeder cattle? Up 3 quarters of a point. The Dow and the rest of the equities or the legacy equity indexes are all going nuts. All time highs for the Dow, the S and P, the Nasdaq.
Holy shit. The Dow, it's up 3 and a half points. The S and P is up 2 and a half. Nasdaq is up 2 3 quarters. And the S and P Mini is up just over 4 full percentage points. Bitcoin's doing, well, what Bitcoin does. It's doing a face ripper. $75,890 a coin is a 1 and a half $1,000,000,000,000 market cap. We can now get 28 point 5 ounces of shiny metal rocks with your 1 Bitcoin, of which there are 19,000,778,471.11 of, and guess what fees are doing? Remaining low. 0.05 BTC taken on average in fees on a per block basis. And there's only 75 blocks carrying a 179,000 unconfirmed transactions waiting for clearance at high priority rates of 4 satoshis per v byte. Low priority is gonna get you in at 3.
Now, hash rate. 1 week moving average seems to be 708.7 exahashes per second. So a little lower than yesterday. Remember, remember the 5th November. And remember to donate to the show. If you like what you hear, if you think I'm bringing you value to your daily drive, where wherever it is that you're going, work, lunch, doing gardening. If you think I'm giving you value, then please give value back in the form of Satoshis. You can do that with any podcasting 2.0 app. You can throw me boostograms. You can throw me streaming satoshis. And it all goes to keeping me here behind the mic where I can tell people like Palpi, who gave me 5,000 satoshis, Thank you for the 5,000 satoshis. And what does Palpi say?
He just says thanks. Well, thanks, man. Dark with 2121 says, your comment from, let's see, About Ethereum being a dumpster fire inside a circus tent with a bunch of clown shows dancing around into some funny shit. Please take my sass. Yeah. I like that one too. Okay. Agri Chute with 555 says, very live reading. And that's it for the weather report. Welcome to part 2 of the news you can use and whoopty, it's gonna be a short as shit show today because I've only got 2 left. First up, Robinhood, Kraken, and Paxos are joining forces.
Oh my god. It's like the fucking wonder twins. For a new stable coin network. Yes. Remember what I was saying about stable coins? It's the new shit coin. It is it is par excellence. So you thought alt coins were bad. You thought shit coins were bad. You thought 20 17, 2016, and 20 18 was just nothing but scam, malicious motherfuckers out there doing everything that they can to take your money. Well, you ain't seen nothing yet. Atlas 21 says that several companies from the cryptocurrency and traditional finance sectors have announced the launch of, get it, Global Dollar Network, the GDN.
Oh, man. It almost sounds like a bad bad network, man, like for television. The initiative aims to improve the adoption of US dollar peg stablecoins in compliance with current regulations. Among the companies involved, Robinhood, Galaxy Digital. Yeah. You knew that was coming. Kraken, Anchorage Digital, and Paxos. According to a statement released by Paxos, the global dollar network was created to support the global adoption and use of stablecoins. The main objective of the network is to support the USDG stablecoin issued by Paxos on November 1, 2023.
The income generated from USDG reserves, which, like other stablecoins are US Treasury securities, will be distributed among participants based on how these companies contribute to promoting USDG adoption. Man, this sounds bad already. Currently, USDG is exclusively available on the shitcoin number 1 blockchain with future plans to expand to additional blockchains based on regulatory developments. The stablecoin issuance is managed by Paxos through its Singaporean headquarters adhering to the stablecoin regulatory network established by the Monetary Authority of Singapore in August of 2023. The reserves ensuring USDG's stability are managed by Singapore's leading banking institution, DBS Bank.
Paxos has confirmed that the stablecoin is backed by US dollars, short term government securities, and other easily liquid liquefiable assets. Liquidable They said liquidable. Easily liquidable. Liquidable. No. Liquidatable. Yeah. Whatever. The global dollar network is accessible to qualified entities such as custodians, exchanges, and fintech companies, which can join by invitation only. The network's goal is to promote stablecoin use by integrating new participant participants into the crypto financial ecosystem. It just gets better. The launch occurs in a market currently dominated by Tether and USDC, which represents 56% and 27% of stablecoins on shitcoin number 1 blockchain respectively, according to data provided by Defilelama.
Overall, USDT holds 69.53% of the current stablecoin capital on Ethereum, which amounts to $84,000,000,000. It's not going to go away. You thought that we would only need USDT, and then here comes USDC. And then, okay, well, I guess a use case was made. But the biggest use case by far for all these stablecoins is the fact that they're the only people willing to actually buy an appreciable amount of our national debt. United States, by issuing securities, is basically printing debt. And these guys are buying it. They are buying it hand over fist. That's got to make the US Treasury very, very happy. They've got a customer. So here's what happens.
The US Treasury sits around their table. The guys, you know, guys and gals at the US Treasury going, holy shit. There's a whole bunch of suckers out there that that are buying this now. I mean, it's like, we thought this party was over. And then somebody else at the table says, oh, hell no. This party is just picking up. Stablecoin issuers are going to come out of the woodwork like termites in a burning house. It's going to be ugly. But here's the deal. They are going to physically buy United States debt. It doesn't matter if they're in Singapore. It doesn't matter if they're United States, you know, companies.
It doesn't matter if they're, I don't know, based in Brazil. It's not going to matter. The it is now precedent that the backing function of stablecoins is US securities. So therefore, everybody's going to do it. It's precedent. Right? So the United States Treasury is gonna be looking at at SEC going, you know, I don't I don't really mind if you put the screws to, like, you know, the Bitcoiners and whatever else. But these stable coins, you got to keep them around. They're the only people willing to buy our debt. France doesn't want it. We won't even allow Russia to buy it. China has been selling, you know, their treasuries for, you know, years now. They've been trying to offload that shit. Nobody wants our crappy ass debt. But here comes stablecoins. Here comes stablecoins.
When altcoins came, when the scam what? Scambase? Scambrian, explosion occurred in 2016 through 2018. You had, like, the proliferation of 20,000 shitcoins, but none of them were actually going to do anything but scam retail out of their money. But here comes stablecoins. And they are willing to take whatever however they get their money, and we won't I'm I'm not gonna go into that, but they're they've got money. And they're spending that money. And what are they spending their money on? They're stacking treasuries. Treasury is gonna tell SEC, you leave them alone, man.
You don't leave them alone or if you make this a big deal, it's they're not gonna be buying our debt and we need to offload the debt. Don't give a shit who buys the debt. As long as they give us something in return for that debt, we will we will paper their ass with securities. And they will print and they will print and they will print. And more and more stable coin companies will come up, and you'll have stable coins just for Austin. You'll have a stable coin just for Tucson. You'll have a stable coin for that dude's cabin across the river in fucking Brazil. I swear to god. They're going to be everywhere. It's probably going to make the Cambrian explosion look like child's play, but we don't exist there.
We exist in bitcoin and lightning, and here we go. Bolt's web app version 1.5.0 has been released. Bolt 12 swaps swappies. Boltz b o l t z b o l t z is a non custodial Bitcoin bridge that enables swaps between different Bitcoin layers. Quote, we just shipped a little something something, bolt 12 swoops, announced bolts. This bolt's web app release adds bolt 12 support to submarine swaps, which is swapping into Lightning, the ability to fetch BIP 353 with DNS SEC Prover, Banco Libre, and StashPay to integrations in Ledger and Trezor support among other things. Damn, it sounds like a really big, big improvement here. Additionally, Bolt's back end version 3.8.0 brings support for the new CLN hold invoice plugin written in Rust, The ability to renegotiate amounts for chain swaps in case they are over or underpaid.
It enables the creation of chain swaps with any amount. It allows for paying bolt 12 invoices in submarine swaps and introduces an API endpoint for fetching invoices for offers. Bolt 12 is an upgrade to the lightning network that enables things like reusable payment requests, increased receiver privacy, and more robust censorship resistance. Let's see if there's anything different. Everything else seems to be way above my pay grade. So Bolt's Bolt's is is damn. Bolt 12. That's gonna be nice. Alright. So that's all I got for you today. I told you it was gonna be a shorter show. We're at 42 minutes. And honestly, ladies and gentlemen, I've said everything I need to say about the elections.
A, that I'm wrong or was wrong yesterday. And good. Good. I'm glad. I didn't want to wait 4 weeks to figure out who the hell was gonna sit in the chair, so I'm I'm literally okay with it. And I gave you the news. So there's really nothing else to to do around here except you gotta hold orange man's feet to the fire and spread spread it. It we've not one more day. Not one more day or not a single day more. Whatever whatever you wanna put. But make sure Trump hears it. Make sure Elon hears it. Make sure anybody who's, like, thing or part of the Trump transition team hears it that Trump needs to call Biden and tell Biden to pardon Ross Ulbricht today.
Not tomorrow. Not the day after. Not sometime next week. And not twice on Sunday, once today right fucking now. There's no reason in the world for that man to sit any not one more day in jail. It's absolutely ridiculous. There's no reason for it. And Trump can get a lot of play out of this. Because if he were to make the challenge, challenge, You've got to challenge the Biden administration to release Ross Ulbricht right now. And if they don't do it, if they don't do it, if they make Ross Ulbricht wait one more day in jail, then Trump gets to point at the Democrat party and say, they want to imprison you unfairly.
I know it's hyperbole, but guess who plays that game? The Democrats have been playing hyperbolic functionality for years now. Oh, you don't like Kamala? You're a Nazi white supremacist racist. Well, fuck you. I am not a Nazi. I'm not a white supremacist, and I'm not a goddamn racist. I don't like Kamala because she's a fucking moron. Right? I mean, if now if you wanna cause me you know, call me a, fucking moronist, well, I guess so. I guess I'd be guilty of that. It has nothing to do with race or anything. They've been so hyperbolic for so long. I'd like to see them eat a little crow.
Just just a little bit of their own fucking medicine. And Trump has the ability to do it right now is to issue a national challenge in the media several times to the point that nobody can escape it. Hashtag not one more day. Free Ross. Not one more day. Free Ross. Not one more day. Not one more day. Not one more day. Not one more day. Not one more day. Not one more day. Not one
Election Aftermath and Personal Reflections
Market Updates and Analysis
