Join me today for Episode 966 of Bitcoin And . . .
Topics for today:
- Metaplanet Forks Saylor Strategy
- Get Off Telegram, NOW
- nostr Booth Initiative
- Shitcoin ETFs Inbound
- Gossip, Diamond, Nunchuk Upgrades
#Bitcoin #BitcoinAnd
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https://cointelegraph.com/news/telegram-users-report-massive-app-outage
https://www.theblock.co/post/319275/us-spot-bitcoin-etfs-saw-91-million-in-net-outflows-yesterday-led-by-arks-arkb
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https://www.nobsbitcoin.com/gossip-v0-12-0/
https://www.nobsbitcoin.com/diamond-wallet-beta/
https://www.nobsbitcoin.com/nunchuk-android-v1-9-52-ios-v1-9-55/
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[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. It is 9:0:1 AM Pacific Daylight Time. It's the 3rd day of October 2024. This is episode 966 of Bitcoin and we're going to talk about the very first people to sell BTC options.
Okay, not ETFs, not Bitcoin itself. The very first company that I know of that has actually taken part in these BTC ETF options that have come out. At least I think that's what's going on. We're going to get into that. There's some more more stuff about Telegram. It just gets it just is this ongoing slow motion train wreck. It is just probably never going to stop. You know what? I'm just gonna say it. Get the hell off of Telegram. Stop using it. Just don't use it anymore. And I know what that means to a lot of people that listen to me that that have long a long standing relationship with Telegram.
I know that your immediate reaction is, screw you. I've been using Telegram for years. All of my stuff is there. I get it. I do. Please understand that that's the same attitude as somebody who says I've kept all my bitcoin on coinbase for 5 years. I'm not changing it. You need to change it. We there there is a plethora of communications protocols out there that are not built to destroy your life. Okay? Telegram looks more and more every day like it was purpose built to screw your ass up. There's some Ark Invest news. Yeah, they're selling their Bitcoin ETFs. Not not options, but they're selling some more of their Bitcoin ETFs.
Bitcoin. And then I want to say and actually, I'm gonna say that for a couple of couple of minutes later. We got some gossip news that's coming out, speaking of, you know, private, communications channels. There's some Nunchuck stuff coming up. And there is some something called Diamond Wallet, which I've never ever ever ever ever ever ever ever ever even heard about before. So, seems cool. But I want to start with the Nostra Booth. Okay? Nostr booth. And, well, you know what? I'm just gonna I'm just gonna roll this promo that's been built and I wanna talk about the promo itself. So, just listen to this one. So this is for all the Nostrages who can't be in Prague. This is the tour of the Nastr
[00:03:33] Unknown:
conference booth. We are blooming here at the Nastr booth. It's amazing.
[00:03:39] Unknown:
We are meeting amazing people, and I can really feel that this is a place where you can meet people working on different projects, people working on different products. Why am I bullish on Noster? Because I met the most amazing people there. I'm bullish on Noster because of free speech, baby. Two words, freedom
[00:03:59] Unknown:
and fun. Here, everybody is so kind and friendly, and I feel like I've learned so much. I truly believe that we don't have the freedom to transact until we have the freedom to communicate. And I believe that Nostra is the social glue that combined all of our apps together, and that's really, really powerful for Freedom Technology across the world.
[00:04:23] Unknown:
Milian of Primer, and that's Pablo from Highlighter. We've been missing you at this Atlantis, booth. I'm going there now. Everybody gets to access everything in egalitarian kind of way. Every builder is equal on the Nostra network. It has all the right incentives. It's very simple. Is that one of the busiest booths here? I swear. Give you 22,000. Welcome to Noster. Welcome to Noster. Thanks.
[00:04:56] David Bennett:
So that was the promotional video and clearly you got the audio portion of it, but it's a whole video that was filmed, edited. It's like, you know, it's a minute and 40 seconds long total. And yes, that includes the dude making the whistle or the little flute instrument sounds at the end by blowing across a leaf. If you've ever been a kid, you've probably done that. In either event, see, here's the thing is that it's so well done. We're gonna talk about the Nostra booth itself, but I I want to take this opportunity to talk about what we just heard and what I just saw because I actually watched the video.
I'm gonna try to The video will be in the show notes because I'm going to link to the Geyser Fund for the Nostra Booth. So, it's a piece that was so well done that that's why I put the audio up. That's why I want to talk about it because we are the marketing group for all of this. There's never been a marketing department for Bitcoin. Except, you know, maybe Jerome Powell and central banks around the world and Christine Lagarde. We we joke about that, but, you know, I I'm just I'm just not gonna buy it. Okay? I'm I'm just going to stick to my guns and say that the only true marketing department for any of this, whether it's Bitcoin, Lightning Network, eCash, Fedimint, Nostr, Pearstack, Keith, gossip clients, whatever you wanna talk about. Alright?
The only marketing that's going to be done is going to be by us. And I I don't know if the people that did this particular piece got paid for it. My gut feeling? If they did, it barely covered their cost. Right? Because this is a very very well done. Lots of editing. Sure, anybody can go out and they can take a bunch of video with some really high quality cameras. Hell, most of the new iPhone cameras are really really superb. And you can do all kinds of lensing stuff with iPhones to make it look damn near professional. But that's not where profession actually that's not where the rubber meets the road in this profession. It's the editing, where you actually have to take all of these footages and try to make a story out of it.
And telling a good story is the heart of marketing. That is in fact what marketing is. It's you've got to tell the story. Right? So here we got these people that are going out, they've taken all this video at these conferences, they've edited it all together into a slick looking package. The color correction is really good. The resolution is top notch. The audio is well done. But clearly it's the editing. Right? It's the editing. So we're all responsible for getting the word out on whatever it is that you want to get the word out on. We can we do not have the money to go to, you know, like, I don't know, a slick ass advertising agency and say, hey, you know, what you make this commercial for for Nosterbooth?
Right? No. That's just not gonna happen. And when I see pieces like this, it makes me feel so good to be part of this thing that where we are all learning how to have fun staying poor. We're doing shit on a shoestring budget. Lots of us have just forgot about even trying to go work a fiat job for a paycheck. Because none of it makes sense anymore. There's all manner of people that I hear from all the time now, either through interviews or directly, you know, through direct discussions that I'm having with them, or DMs, or whatever, where they're like, I just can't do this shit anymore. I cannot pretend that any of this is okay.
That's because none of it's okay. What's been done to our world, our societies, whether you're English, German, Eastern European, Latin American, Canadian, living in the United States as an American, it's all been destroyed. Yeah, I was talking to somebody yesterday and I said, look, you know, like the people that are in either generally speaking, like hardcore conservatives will talk about the attack on the nuclear family, how the Democrats are trying to destroy the nuclear family. And what I said was, You missed the boat. The damage was already done with the destruction of the extended family.
And that was one of the pieces of real actual wealth that was stolen from us. And it was replaced with this idea that if you don't have a yacht by the time you're 25, you kind of suck for society. If you're not a rich banker wearing, you know, Brooks Brothers suits, you really don't matter for society. You can't believe you don't live in a city like New York City. You've got to go where the jobs are. You got to leave your family. You got to get to where the jobs are. Because without without one of these top notch jobs, you're nothing. When I talk about what real wealth is, one of the things that was real actual wealth was an extended family, where you had multiple generations either living in the same house together or so damn close that you might as well have been. Like, next door or down the street.
Definitely in the same town. That town not be in Dallas. Not be in Fort Worth. Not Houston. Not LA. Not Chicago, not New York, just a little town. That was real wealth. There was real wealth there. And the extended family was completely and utterly destroyed. And now when you talk about the fact that, oh hey look, maybe, maybe, just maybe, you know, 2 generations of families living together, you should be embarrassed about that. Should you? I mean, if if your children still live with you and they're in their twenties, maybe, you know, just hear me out. If they're complete slackers and they don't do anything but play video games, that's a problem.
But if everybody's employed and it's just easier to work together as a family, as an extended family, I don't see the issue. In fact, I see strength in being able to tell the rest of the world, screw you. I don't want my family living 2,000 miles away. Right? That's part of the reason that we find ourselves where we are, where a lots of us do not want to take part of that world any longer because it doesn't make any sense. And it certainly isn't fulfilling. Anxiety is at all time highs. Depression, all time highs. Suicide, all time highs. Prices for everything that shouldn't cost anywhere close to as much as it does, all time highs. And it just gets worse and worse and worse. Now we've got Iran and Israel that looks like they're just gonna go head to head, and that puts us firmly on the side of Israel and Ukraine, and Russia firmly on the side of themselves in Iran.
Right? That is another proxy war. It's another Korea. It's another Vietnam. Only this time is probably going to be worse. So my question is, why wouldn't we want to figure out how to have fun staying poor? Because we're not really poor. The video that I saw that I looked at you know what I saw? I saw tons of friends that have forged relationships over the last 5 years that are probably going to outlast any of their childhood friendships because we were forged in fire. We're in this time that by itself is a hellscape of sulfur and whatever they have. What is it like? Was it brimstone? Yeah. Sulfur and brimstone.
And yet through it all we have these things. We have Bitcoin. We have Nostra. We have Lightning Network. We have e cash. We have Fedimint. We have all kinds of neat stuff. And so many of those same people are just saying, I don't need what I've been told I need. And that's where the future gets built. That's how we're going to build the future. It's not only an attitude that it needs to be done, It's an attitude that readjust what we think wealth is and what we are willing to work on for a pittance because it makes more sense. Because the minute that you figure out that that bank account, that bonus check, those suits, that Chanel number 5, the sushi restaurant that cost at least $500 to even look at, The Dom Perignon, the Cristal, the Jets, the yachts, the 5 houses.
It's a prison. Dharav is telling us all about what a prison it is. So let's start there, in fact. Telegram users report massive outages on the messenger app. Couldn't possibly be coordinated, could it? Cointelegraph, Helen Park. Cryptocurrency friendly messaging platform, Telegram, is experiencing massive outages with multiple users reporting issues accessing content on the messenger. According to data from Downdetector, 100 of Telegram users reported issues in server connection on Telegram starting at around 12:30 am UTC today, October 3rd.
The most reported issues included problems with sending and receiving messages and other connection issues on the app. Outage.report reported on Twitter that Telegram has been down since 10:22 AM. The connection incident reportedly affected users from countries like get this, couldn't possibly have anything connected with the countries that are affected like Ukraine, Belarus, Poland, Kazakhstan, Russia, Netherlands, and Germany. According to Downdetector, the latest outages on Telegram followed a smaller outage detected on October 2nd being yesterday. Post on Reddit confirmed the outages on Telegram with some users pointing to issues with server connections as well. Quote, here in Germany, the app doesn't work properly.
No way. There seems to be no server contact because my chats are all there, but it won't load any newer messages, one redditor wrote. Quote, it's been down for about an hour now, another Reddit user stated. Telegram has suffered significant outages on its platform before. According to outage. Report data, Telegram previously experienced a mass outage that lasted for 1 hour and 28 minutes back in June. The app also experienced an outage of almost 2 hours in April. The outage came amid Telegram CEO Pavel Durov, hinting that the messenger has been disclosing IP addresses of criminals to authorities since 2018 yesterday, October 2nd.
The CEO is currently under investigation in France. Yes. We know all that. And neither Telegram nor Durov have addressed the outages publicly at the time of writing. And they've they are also not giving any statements to, Cointelegraph. Okay. Look. This very well may be this very well may be a couple of different things. It could very it could very well just be a coincidence. I don't think so. That does not does not where my gut feelings are taking me. So it's probably 1 or both of the following two things. When Pavel Durov made the statement that these they've been disclosing people's IP addresses since 2018, I could see 2 things happening concurrently.
Governments that are, you know, figuring out that they can get whatever information they want from, from Pavel Durov are making requests and they are and Pavel Durov's team is actively scraping the servers for all information, which means that there's a heavy load of requests going on on those servers. The second thing that I think is happening concurrently is that the users who have finally figured out that they've been had lied to yet one more time are actively getting onto Telegram to see if they can scrub anything that they can scrub. Spoiler, you can't.
You can delete all the Telegram messages you want. You can delete your phone number. You can delete your whatever. You can delete your whole fucking account. It's not going to matter. They already scraped your data a long time ago. That shit, every word you said is sitting somewhere and you erasing whatever it is that you said on Telegram that you think you might get in trouble for. I'm sorry for you. It's too bad. We got had. Now I hate Telegram. I always have. And people go, but you're missing out on on one of the largest, you know, ways that you can connect and network, you know, for the Bitcoin and show. I I'm like, I'm looking at this thing going, what a mess.
Every time I open that open that app, I just get I'm looking at it going, this is ridiculous. Somehow or another, I've got 80 names in my left hand bar. And every time I go to one of the ones that's pinned, I'm picking up in a conversation that started 5 hours ago. And there's 5 different conversations involved in that conversation, and I can't pick through any of them. It does that that entire platform and interface makes absolutely no sense. So I don't have anything to worry about on that one. I wish none of this was happening because there's a lot of people I do know on Telegram, and they've probably said some shit that they they regret only because they don't wanna get thrown in the slammer or they don't wanna have the ire of, you know, of a government government upon them or they possibly just are just nervous, you know, because they said something. Who knows? It doesn't matter. Right? Just understand that I think that the outages are happening because the servers are being overloaded with requests for information from the people that are the baddies, and there are requests for information to be scrubbed by the people that are the good people.
And that's probably what is causing some of the outages. I could totally be wrong. But even if I am, I still think that that is what is go I I still think that even if it's not causing the outage, governments are hardcore going to Telegram saying, I need this, this, this, this, and this, this. Because they know that the cat's out of the bag and people are gonna stop using Telegram. Not all of them clearly. But the ones that probably have the most to hide from their governments are probably saying fuck it. I'm done. We got to find something else. Maybe they'll go to, what, Simplex?
Maybe they'll go to Signal? Who knows? I, you know, I don't know. All I do know is that we have Noster, and if we can get our shit together and stop thinking that wealth only means $250,000 paychecks, then we might actually be able to build the future that we want to live in. I'm just saying, okay? Now let's get over to Meta Planet. Over in Japan, Bitcoin holder Meta Planet sells BTC options to boost coin stash. Let's see if they're selling these brand new BTC ETF options. CoinDesk James Van Stratton writing, Tokyo listed Bitcoin holder Meta Planet Incorporated is now using Bitcoin options to boost its coin stash diverging from its peer, the United States listed MicroStrategy's debt fueled accumulation strategy. Ah, forking the strategy, are we? On Tuesday, Meta Planet announced the sale of 223 contracts of Bitcoin put options at the $62,000 strike with a maturity date of December 27th.
The transaction involved Singapore based QCP Capital as the counterparty and generated a premium of 23.97 BTC which is about right now, I don't know, a 144,000,000 no. A 100 $1,440,000. Sorry. 1,440,000. CoinDesk reached out to QCP for a comment. I guess they didn't get one. Meta Planet posted 13.8 $26,000,000 as its margin collateral, with each contract offering 0.1075 BTC in premium, which Meta Planet received upfront. The transaction resulted in a nominal yield of 10.75% and an annualized yield of 45.63 percent. The $13,826,000,000 of margin collateral came from the proceeds raised during Meta Planet's 11th stock acquisition rights exercise.
The purpose of this collateral is to ensure Meta Planet can meet the transaction if the option is exercised. Meta Planet will use the premium received by selling put options to purchase more Bitcoin. The company's total Bitcoin holdings now stands at 530.71 BTC, roughly around $32,000,000 A put option gives the buyer the right, but not the obligation, to sell the underlying asset at a preset price on or before a specific date. Meta Planet is a put seller, meaning that it is obligated to buy BTC at the strike price of $62,000 even if prices are lower on the day that those contracts expire.
If Bitcoin's price drops below $62,000 by the time of the maturity date The buyer will likely exercise this option, forcing Meta Planet to buy 223 Bitcoin at the higher strike price. Therefore, Meta Planet's Bitcoin holdings would increase by 223 Bitcoin even if the market price by December 27th is lower. However, the premium partially offsets the spot price risk. If Bitcoin's price is higher than 62,000 by December 27th, The buyer is unlikely to exercise the option since they can sell Bitcoin on the open market at a higher price. The option would therefore expire worthless while Meta Planet keeps the 23.972 premium as profit.
So this is a very, very different style of going after Bitcoin acquisition than we're used to seeing from MicroStrategy. MicroStrategy's Bitcoin strategy is basically to print new, well, to print corporate bonds and or sell more stock to buy more Bitcoin. That's what they've been doing. It is 100% debt. Meta Planet, probably because Dylan LeClaire is now part of that crew out there, is using a little bit more of, in my opinion, more of a traditional way of getting not just Bitcoin but any asset through the use of these market technologies that have been around for decades decades decades. The put option stuff, right?
Strike prices, all that kind of stuff, sell options. All of this stuff has been around forever. It looks to me like Dylan Leclerc has talked Meta Planet into using these more traditional formats and get less creative in being able to acquire more Bitcoin, but in being less creative by using these older things in a new way, it actually shows an amount of creativity that we have yet we we just saw it for the first time. We're we're seeing this basically for the first time at the corporate level for Bitcoin acquisition strategy that is not a direct mirror image of MicroStrategy. In my opinion, this is actually a good thing even though I know there are some people out there listening to me going, but they're using legacy financial tools and therefore, it's going to pollute that which they are trying to acquire.
I'm gonna say I understand your sentiment. But if a tool of the enemy can be used against the enemy, then use that tool against the enemy and make sure you strike as deep in its heart as you can. Good for you, Dylan. I'm glad that you're at least on our side for now. US spot Bitcoin ETFs saw a $91,000,000 outflow yesterday, and that was led by ARKB fund. This is out of the block written by Timmy Shen. US spot Bitcoin exchange traded funds saw outflows of 91,760,000 on Wednesday, extending their streak of negative flows to 2 consecutive days. ARK and 21 shares ARK b led the outflows on Wednesday with $60,280,000 of that product leaving.
Grayscale's GBTC, the 2nd largest spot Bitcoin ETF by net assets, recorded 27,310,000 in net outflows. BlackRock's Ibit, the largest ETF, reported net outflows of a mere 13,740,000, marking its 1st daily outflow since September 9th. Bitwise's BITB experienced outflows of 11,510,000, while the 7 other spot Bitcoin ETFs logged 0 flows in or out. The total trading volume for all of these ETFs shrank to $1,660,000,000 on Wednesday, down from $2,530,000,000 on Tuesday. Bitcoin edged down 0.46% over the past 24 hours to trade at around 61,183 at the time of writing, while ether slid 3.77% to change hands at, I don't know, whatever it is that you wipe your butt with. That's just a whole shit show that I don't even like getting into.
Alright. Let's see. Where are we at? Okay. Yeah. Let's run the numbers. CNBC Futures and Commodities starting us off with oil, 4.6% to the upside for West Texas Intermediate. It is now back up to $73.35 a barrel. Brent Norcey up 4 and a third to 77 point $11. Natural gas up 2.6. This is one of the first times that I've ever seen natural gas move in the same direction as oil for 3 consecutive days. So, 2.96 dollars is what you're getting for 1,000 cubic feet. Gasoline up 4.5 percent to $2.07 a gallon. Gold is up a tenth of a point. Silver is up damn near a full point, but platinum is down 1 and a half. Copper is down over 2 points. Palladium down just at 2 points.
We got lumber. We'll see. What's lumber doing today? Lumber's down half a point, but that's not the biggest loser because the biggest loser is coffee. Two points to the downside. Biggest winner is sugar. Almost two points to the upside. I got live cattle down 0.79%. Lean hogs are down a half. Feeder cattle are down over a half. Dow is down a quarter of a point, but the S and P is making up for it, but it's basically just sideways, I guess. 0.02% to the upside for S and P. Nasdaq is up 0.16%, while the S and P mini is down 0.12. And we are struggling with Bitcoin's price again today because every time you let the bears out of their cage, they just take a shit all over everything.
It's $60,130. That is now a $1,190,000,000,000 market cap. And we can only purchase 22.6 ounces of shiny metal rocks with our 1 Bitcoin, of which there are 19,762,227.36 of. But fees remain low at 0.05 BTC on average on a per block basis. And there are 88 blocks. Wow. I haven't seen the mempool this light in a while. Mempools, I should say. The mempools, plural. There are many of them. 2 satoshis per vbyte is high priority. Wow. That is cheap. Low priority is gonna get you in also at 2 satoshis per vbyte. 659.8 exahashes per second is the hash rate. Do with that what you will.
And leak like a sieve is yesterday's episode of Bitcoin. And God's death with 537 says thank you, sir. No thank you. Pies depleb with 420 says thank you, sir. No thank you. And then I got one from Nim who said, looking forward to the show, but there's no boostagram from her. So I don't know exactly or her, the avatar is a female clearly. So, I don't know how it got in here. That's okay, though. I appreciate everybody that listens to the show and takes their time to throw me a message. That's the weather report. Welcome to part 2 of the news that you can use.
Wall Street aren't Bitcoin maximalists. Example number 15. This is from Pete Rizzo out of Bitcoin Magazine. Nothing stops this train. Nope. I'm not talking about the Federal Reserve Money Printer. I'm talking about the string of ETF announcements from Wall Street and the related crypto firms servicing it this week. I'm talking about today's hybrid Ethereum Bitcoin ETF, yesterday's XRP ETF, and what will likely be 20 25's Basket Meme Coin ETF, offering exposure to everything from Pepe to Giga to Harry Potter, Obama, Sonic, 1 o I n u. If your takeaway from the arguably dismal ETH ETF launch is that there won't be more crypto ETFs. I'm sorry. Sorry. But you're looking past the $1,000,000,000,000 price tag on the rest of the crypto industry.
Wall Street wants to sell products to make US dollars. And they will continue to do the things that make the dollars. Okay. In a bear market, maybe that's not an Ethereum ETF. But it's hard to imagine that in a world where the US regulatory environment continues to become more advantageous to the industry, And there aren't 15 to 20 of these ETFs all pumping in a bull market. Maybe you've forgotten how in 2017 XRP pumped to $4 and Dash went to 700. I remember. How in 2021 JPEG sold for 100 of 1,000,000 of dollars. Newsflash, 80% of ETF purchasers are retail buyers and that's according to BlackRock.
Maybe you think all of our proselytizing to the likes of Rick Rubin has seeped somehow into the collective consciousness. Maybe you're betting on Kamala Harris getting elected and that she will continue to let Gary Gensler and the SEC run Rashaad over crypto. Fair enough. That's not a world that I see. The Bitcoin crypto voter constituency is here. And whether it delivers the election to Donald Trump or it wins concessions from the Harris administration, that means more ETFs, not less. Certainly, not a world where there's only a Bitcoin ETF anytime soon. Again, Wall Street is not embracing the tau of Michael Saylor. They don't see President Nayib Bukele as a developing world savant. They do not believe Bitcoin is a bulwark against money printing. And no, it doesn't matter that they are writing research reports to that effect.
They will say whatever they can say to sell more ETFs to make more USD because they are not convicted buyers. They are convicted sellers, and there's a difference. He's not wrong. He's not wrong. So what here's what's happened. We've we got Bitcoin pushed into and I'm going to say this is like from my start, back in 2015, when I got my start in Bitcoin. From that time, we've taken Bitcoin and got it into the world spotlight, but not mainstream media, by the time we hit 2016. But what came up after that? What came up alongside that? And then we saw a huge what they what they call it, not scandemic.
What was that thing? Oh, the Scambrian explosion. Scambrian explosion of shit coins. The entire altcoin world came up in 2016, 2017, and it never left us. Sure. There was altcoins before that. I get it. But you if you weren't around in 2016 and 2017 and you didn't see Vortex and Tone Vays interviewing some hot ass chick in a bikini at the Bitcoin conference. 1 of the I think the first one in Miami. And and she stated that she was now the chief investment officer of the shitcoin company. And when they asked her what she did before, she stated that she had been homeless. Listening to that interview was like nails on a chalkboard.
And that was par for the course on a Tuesday. I'm not exaggerating, guys. This actually happened. If you want more about it, go Vortex, go look for the 1 Vortex either on Twitter, which he doesn't really engage with anymore. But he has been engaging on Noster. Go look for Vortex, also known as the one vortex. Go ask him about interviewing the homeless chick that was a c suite officer at a shitcoin company that him and Tone Vaz interviewed outside of the Bitcoin conference in Miami. He'll tell you, I ain't lying about this shit. It was like that all the time.
Well, here's what's happening now. We pushed Bitcoin to world spotlight status, and a whole bunch of shitcoins came up along with it and stories like I just told you. Now, Bitcoin's been pushed all the way to beyond mainstream media to where now there's institutions. But instead of ginning up a whole bunch of shitcoins, they're just going to gin up a whole bunch of shitcoinETFs. There is no difference between the two worlds except for the scale. It's gonna be the same shit marketing. It's gonna be the same people posting the suicide hotline number on Reddit.
It's gonna be the same thing over again because humans never learn. We just do the same stupid shit at ever increasing scale. It's sad. It really is. It's just the saddest damn thing. But we have good news. I'm going to talk again about Nostrobooth. A Nostrobooth. And this is the geyser.fundforward/projectforward/the Nostroboothinitiative. Okay? Go to geyserfundgeyser.fund and look for the nostrboothinitiative. You can just type it in, all one word, probably, because that's actually the URL. Forward slash project forward slash all one word the nostrboothinitiative. Right? And you can help fund this Nostrbooth.
And it's basically to bring Nostr to all the Bitcoin conferences in as many venues as they possibly can. Latin America, Central American venues, Eastern European and European venues, Asian venues, you name it. Hopefully, African venues as well. They want to bring Noster to all the people that are the most receptive to censorship resistant communications. And you can help by going to geyser.fundforward/projectforward/the nostrilboothinitiative. And you can be one of the contributors that have already contributed 15,000 861 USD.
And that would equal 25,240,000 satoshis. Alright. So they're doing well in this geyser.fund. But let me just read you let me see how long this one is. I'm gonna read you the very first part of the project description, okay, in case you didn't get it from the audio that I brought you at the head of the show. This is not just another Nostra booth. This is a 3 country Nostra tour that includes 3 major booths at 3 conferences along with satellite events in each city, onboarding and technical workshops, conference activations, documentary footage, local Nostra content, and so much more.
Where where the first Nostra booth was hosted? It was in BTC Prague. The 3 day conference attracted over 6,000 attendees and featured more than 50 booths. While it was not the biggest booth, it was the most visited. Let's say that again. Out of 50 booths and 60,000 attendees, the Nostra booth was the one that was visited the most. Derek Ross helped create the first of these Nostra booths at BTC Prague, and it was clearly a huge success. But the journey continues. Inspired by that incredible response, we're taking the Nostra booth on the road.
Stage 1: Latin American Nostra events tour. Stage 2, the global Nostra booth tour. And they go on to say something about that. If we're successful on the Latin American tour, I want to leverage what we've learned and take the Nostra booth on a world tour in 2025. There are more than 50 Bitcoin conferences next year and at least 10 that we should be present at, including Bitcoin 2025 in Vegas, Bitblock Boom, and another round, of course, at BTC Prague. So that's, essentially, that's what's going on here with this. If you're hearing a lot of stuff about the Nostra booth, I think it's a good project.
Derek Ross and the rest of the crew that's behind this whole thing, they're all super passionate about doing this entire thing. So you can get let's see, for $9 you can be a Pleb supporter. That's just under 15,000 sats. You can be a Pleb Plus for just over 80,000 sats. That's about $50. Let's see. What is this one? Gigapleb for just under $100 and highlight for $200 or 328,000 sats and change. So if you're wanting to support Nostr at these events, this is your way to do it. It will be in the show notes, a direct link to geyser.fund/project/thenosterboothinitiative. Gossip version 0.12.0 bookmarks per relay feeds, and more.
Gossip is a highly performant and security oriented desktop client for, you guessed it, Nostr. It's available on Windows, Mac OS and Linux. This is a major gossip release that comes with bookmark support, per rate relay feeds, friends of friends scores in avatars, improved spam filtering, updated emoji picker, and more. So what's new? Bookmark support. This is good. I like bookmarks. Global feed and per relay feeds with volatile storage erased when you quit. Interesting. Friends of friends scores shown in your avatar or in the avatar rather. Improve spam filtering script with more inputs upon which to make decisions.
And then there's a whole slew of minor changes. But gossip is yet something that I have not used yet. In fact, I don't even know if I've got it if I have ever even installed it. But this I wish that they had explained what a per relay feed was. Cause here's what I want. I want a Nostra client that surfaces beyond a shadow of a doubt that I am in a section of that client that is designed to do one thing and one thing only. Put together a Nostra client or rebuild that Nostra client just for me to where I have like like the only relay that I have in one feed. And all is like, I don't know, anime.com.
Like the wss.feed. Anime.relay. Okay? And I own in that in that column, all I see is just from that feed. That's all I want. That would give me the ability to change the flavor of my Nostril client in a like I know what you're saying, especially if you're close to a developer or you're knee deep into the weeds of something like Coreacle and, or satellite earth, satellite dot earth, which is another really nice Nostril client, you're going to tell me that we can already do this. It needs to be blindingly evident in the client.
I don't need to go search for something. I don't need an instruction sheet. Don't make me think about it. That's what I'm getting at. I want to be able to literally go over to something like Oracle or Primal or Amethyst or Domus or whether it's on desktop or on mobile. And I want to go to that client and have that client tell me, hey If you want to put together 2 or 3 relays, hit this button or something like that. Something that makes it evident that I'm going to build a custom client right there in this client. And by custom client, like, be able to turn like, go to settings and say, okay.
I want you to build me a single column that has these 3 relays in it. I want you to turn off DMs. I want you to turn off notifications. All I want to see is this one column of feed from these 3 relays. I don't want anything from my followers. I don't want anything from followers or followers. I want all that shit turned off. I just wanna see what's streaming through that relay. Again, I know what you're saying. You can already do that. Yeah. I need to make sure that I can find how to do that within, like, 5 button clicks just through the just through the interface. I don't want a tutorial.
I don't want to watch a video tutorial. I don't want to listen to an audio tutorial. I don't want to read somebody's blog post. I just want it there. I want to be able to go this looks like this client looks like it's enabling me to just say I want this feed, but I only want to see what's being posted in this relay's feed by my followers that have above a 100 WOT score or web of trust score. And for those of you that hate web of trust, I get you. I feel you. I understand. I'm just I'm just putting it out there as an example. Okay? That's what I really want.
And beyond that what I really want is a client that allows me to look at a nostril feed, allows me to look at a different mastodon feed, like the old the way that the old tweet deck used to act. I want to be able to have API calls in one column, API calls from a completely different, you know, federation in another column. Like, Noster in the left hand column, mastodon in in the right hand column, and on the right hand side of that, a a like a different custom nostril view. And on the right hand side of that, another column that is from a completely different feed from Mastodon like, podcast dot social rather than like no authority dot social.
Right? So that I could have, like, multiple columns. I want that. I want that so badly it's not even funny. So somebody who knows how to do that shit, if you could do that that would be awesome. Diamond wallet is a lightning wallet with bolt link and sats for ads functionality. I hope they describe sats for ads. Diamond Wallet, self custodial lightning wallet from Japan and Asia, built using the Breeze SDK and nodes from Blockstream's greenlight. We're excited to announce the beta release of this wallet, a self custodial lightning wallet that enables users to earn sats, oh, god, by viewing ads. Well, that's I was wanting something like satvertising.
Oh, well. The app is still in beta, but it already supports all basic lightning wallet functions and can be tested with real sass. We have about 200 testers from Japan now. With beta release, we'll slowly expand to other markets, add important features like credit card channel opens, improve UI, UX, etcetera. Lots to build, but we're not in a rush and committed to pursuing the self custody path, said DiamondHands cofounder and CEO, Koji Higashi. The wallet also integrates BoltLink and SATs for ads functionality, making it unique in the wallet world that pays its users directly in a self custodial manner. Quote, BoltLink is inspired by the early work of LNTXbot and its SATs for ads service developed by Fiat Joffe.
Although the service was discontinued some time ago, we are resurrecting the concept with self custody and a more flexible link generation scheme as was stated in the blog post. So, BoltLink, it is like Bitly, you know, bit.ly, the little URL shorteners, but with lightning payments. You click a link, you watch an ad, and you earn Bitcoin. Only users with a lightning channel can claim rewards keeping it secure and spam free. Then there's the self custodial and basic wallet functions. You are in charge of holding your funds. Get Diamond Wallet at the Play Store link and on iOS test flight.
What's next? Well, DiamondHands plans to improve the wallet and BoltLink by bringing the following features in the coming months. The ability to open a channel via an in app purchase. Oh, that would be interesting. Compatibility with other lightning wallets built on Greenlight. The ability to push advertisements directly to wallet users. And, of course, a referral scheme. And if you wanna know more about that, they have the blog post, the Stacker News discussion, and the GitHub repo. And you will have full access to this URL that you can go to because I put every URL that I talked about if I can in the show notes and this one's going in.
Finally, for the day, Nunchuk Android version 1.9.52 and iOS version 1.9.55, decoy wallets. The latest release of nunchuck mobile apps includes decoy wallet functionality, a revamped security pin, the ability to mark used addresses, export transaction histories as PDFs, and more. Decoy wallets are bitcoin wallets that store small amounts of bitcoin to protect against attackers. To facilitate this, Nunchuk implements 2 separate pins, a decoy pin and a security pin. In a threatening situation, you can enter the decoy pin to access the decoy wallet and hand it over, potentially defusing the threat.
Use the security pin to access the main wallet. Nunchuck for Android now also supports reproducible builds. Reproducible builds use practices that ensure your device's binary matches the published source code, allowing for independent verification. And, yeah, that's about all that there is. I like the decoy functionality that we need to have way more of that stuff. Okay. So that is it for the day. A reminder that we are the marketing department for all of this. So essentially, that makes us the marketing department for the future. That's a pretty weighty way to say it when you think about it. If we want to have any kind of future, like, you know, at all, that doesn't resemble hell on earth or some kind of sick twisted version of George Orwell's 1984, then we best get off of our asses and figure out how to be happy and have fun staying poor.
We used to say this to people all the time, and it was a derogatory comment. But the more that I used it and the more that I would watch, you know, like, you know, the the the value of Bitcoin just go on this this eternal roller coaster ride, What I realized was that even in the up on like seriously up days, people were not buying anything. They weren't selling their Bitcoin. And then in the on the low periods, you'd see people like, you know, all of a sudden they you'd see the Woah, Jack that starts putting on the McDonald's hat. Right.
And like I get from this, I get a sense of the personality or a sense of the general disposition of the Bitcoin world. And I've been here for a long time. What I finally discovered is that a lot of us are figuring out that when we say have fun staying poor, what we're really talking about is that we need to figure out a way to have fun staying poor so that we can get through these times and have a different kind of wealth. The wealth that has been presented to us as the type of wealth you should have we're not being allowed to access and have not been allowed to access for decades.
Unless you want to go get your Series 5 to go trade or whatever the thing's called to go trade equities on Wall Street and you want to live in that world, you're not gaining access to that wealth. And even if you do, only 4% of those guys actually make anything of themselves. And you've got to be into the top one before you are driving around in the limousine with the Cristal and 12 hookers. That's the way it is. Same thing with real estate. Same thing with mergers and acquisitions. It's all it's all just elitism now. It's all handed down.
There's no real functional wealth that is available to the masses of the planet anymore. No, I'm not saying wealth redistribution. I'm saying Bitcoin. Bitcoin fixes this. Because when you have the ability to print the money, that automatically comes with your ability to give the money to whoever you want. There has never been a time in the history of printing money that those who printed the money did not have the execution to send that money to whoever they wanted. It's not like they printed it, and it just accidentally always fell out of the window and the people of that country were down below that window collecting up the money. That has never happened.
So understand, when we say that they're about to print money again, they're also about to select who gets that money. We never say that. We might know that, but we never actually say it. Printing money involves 2 things. The printing of the money and the giving out of the money. And that means the selection process of who gets the money. And it ain't you, and it ain't me, and under this system, and I'm not talking capitalism, I'm talking about globalist elitism, you're never going to get what they told you you should get, what they told you you have to have to be a functional person in the society. Yet we forgot that there are there are whole shit there's a Bible story. I want to say it's Jacob. I can't remember.
It was a brother. Got sold down the river. He ended up doing some really kick ass shit. This is all old testament stuff, man. I mean, this is like I think this is actually in before Exodus, maybe at the end of Genesis, somewhere around there. It's old. It is as old, old, old as it gets in the Bible. And there's a story where he's gonna meet his brothers again. And he's for some reason very worried that his brothers will, I don't know, kill him or do something bad to him again. So he says, you know what? I'm going to send I want he he he talks to his head guys because he's got guys. He's this he's wealthy, right? He's got his guys. And he tells us guys, he's like, okay, I need you to go around to the herds, and I need you to gather up 50 rams, 50 camels, 50 sheep, and he goes on like this.
And it's like a while. It's like, I think it ends up being like 4,000 head of animals and they're all different kinds. He goes, I want you to take these gifts to my brothers. Go ahead, Go before me and take these gifts to my brothers. Meet my brother and tell my brother that these are gifts from me and that I want everything to be okay again. And this you might laugh going, well, he's so he's sending some donkeys. Okay, I understand that. That was wealth. That was real, actual wealth. And you'll say: Well, we have airplanes now. We don't we measure our wealth differently. Is it any better? Can you safely look around what's going on in the world today and say, it's better now than it was when we were measuring our wealth in livestock?
And that that was respected. You know, I'm just saying. When they moved everybody out into the cities and everybody had to leave their rural confines, we left the entire concept that soil was our wealth. The animals upon it were our wealth. They fed us. They fed our friends. They fed our family. They clothed us. I know what you're I know you're thinking this, or some people are thinking this, I don't want to walk around in animal skins. Come on, man. Make the stretch. Meet me halfway between the semblance of what we used to think of as wealth and where we are in modern day. There is a point at which those two worlds can meet, But we're not at that point. We are so far to the modern side that we have forgotten so much about the entire other side of what wealth used to be that we can't think straight.
But if somehow we're able to fuse what we used to think of as wealth with where we're living today then we might be able to use things like Bitcoin, and Lightning, and eCash, and Nostr, and Pearstack, and Keat, and all of these things. If some of us are willing to take the financial hit and learn how to have fun staying poor, we can build this thing. And we won't have to be poor forever. And I'm not saying that they're not saying that that this means that you're gonna get the yacht. It just means that would you rather just be happy? You know, happy in so far they say you got enough money that you ain't got to worry, but you don't give a shit about buying the the the buildings in downtown Manhattan because you want to be that guy.
You just want you want to build, but that's not building that's just buying and selling. You actually want to build the building. You actually want to put those crews together. You actually want to engage in the commerce of that which is constructed. That which you from the soil through your own two hands that never existed before being able to do that is wealth. Just buying and selling somebody else's creation that's not wealth creation that's parasitism. I'm sorry, but it is. And the real estate agent that's listening to me is like, I'm never going to listen to you again. Okay. I'm sorry, but I mean, it's not that you're a bad person, but it is a little bit of parasitism because you didn't build the house and then sell it.
You're getting a commission on selling the house for somebody else. And that one, I'm okay with that. I really am okay with that because somebody needs you to sell their house. That one, I am okay with. But this, when you get into the upper echelons of some of this stuff, it doesn't make sense anymore because only a very few people have ever gotten it and fewer and fewer people are going to have access and access to it in the future. If we revamp what we think about what wealth is, we've got a chance. If we revamp what we think makes us happy, we got a chance to get out of this.
And ladies and gentlemen, Bitcoin and Nostra and whatever comes behind it on Freedom Tech, this is our only chance. We have one shot. We better make it good. I'll see you on the other side. This has been Bitcoin and and I'm your host, David Bennett. I hope you enjoyed today's episode and hope to see you again real soon. Have a great day.
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. It is 9:0:1 AM Pacific Daylight Time. It's the 3rd day of October 2024. This is episode 966 of Bitcoin and we're going to talk about the very first people to sell BTC options.
Okay, not ETFs, not Bitcoin itself. The very first company that I know of that has actually taken part in these BTC ETF options that have come out. At least I think that's what's going on. We're going to get into that. There's some more more stuff about Telegram. It just gets it just is this ongoing slow motion train wreck. It is just probably never going to stop. You know what? I'm just gonna say it. Get the hell off of Telegram. Stop using it. Just don't use it anymore. And I know what that means to a lot of people that listen to me that that have long a long standing relationship with Telegram.
I know that your immediate reaction is, screw you. I've been using Telegram for years. All of my stuff is there. I get it. I do. Please understand that that's the same attitude as somebody who says I've kept all my bitcoin on coinbase for 5 years. I'm not changing it. You need to change it. We there there is a plethora of communications protocols out there that are not built to destroy your life. Okay? Telegram looks more and more every day like it was purpose built to screw your ass up. There's some Ark Invest news. Yeah, they're selling their Bitcoin ETFs. Not not options, but they're selling some more of their Bitcoin ETFs.
Bitcoin. And then I want to say and actually, I'm gonna say that for a couple of couple of minutes later. We got some gossip news that's coming out, speaking of, you know, private, communications channels. There's some Nunchuck stuff coming up. And there is some something called Diamond Wallet, which I've never ever ever ever ever ever ever ever ever even heard about before. So, seems cool. But I want to start with the Nostra Booth. Okay? Nostr booth. And, well, you know what? I'm just gonna I'm just gonna roll this promo that's been built and I wanna talk about the promo itself. So, just listen to this one. So this is for all the Nostrages who can't be in Prague. This is the tour of the Nastr
[00:03:33] Unknown:
conference booth. We are blooming here at the Nastr booth. It's amazing.
[00:03:39] Unknown:
We are meeting amazing people, and I can really feel that this is a place where you can meet people working on different projects, people working on different products. Why am I bullish on Noster? Because I met the most amazing people there. I'm bullish on Noster because of free speech, baby. Two words, freedom
[00:03:59] Unknown:
and fun. Here, everybody is so kind and friendly, and I feel like I've learned so much. I truly believe that we don't have the freedom to transact until we have the freedom to communicate. And I believe that Nostra is the social glue that combined all of our apps together, and that's really, really powerful for Freedom Technology across the world.
[00:04:23] Unknown:
Milian of Primer, and that's Pablo from Highlighter. We've been missing you at this Atlantis, booth. I'm going there now. Everybody gets to access everything in egalitarian kind of way. Every builder is equal on the Nostra network. It has all the right incentives. It's very simple. Is that one of the busiest booths here? I swear. Give you 22,000. Welcome to Noster. Welcome to Noster. Thanks.
[00:04:56] David Bennett:
So that was the promotional video and clearly you got the audio portion of it, but it's a whole video that was filmed, edited. It's like, you know, it's a minute and 40 seconds long total. And yes, that includes the dude making the whistle or the little flute instrument sounds at the end by blowing across a leaf. If you've ever been a kid, you've probably done that. In either event, see, here's the thing is that it's so well done. We're gonna talk about the Nostra booth itself, but I I want to take this opportunity to talk about what we just heard and what I just saw because I actually watched the video.
I'm gonna try to The video will be in the show notes because I'm going to link to the Geyser Fund for the Nostra Booth. So, it's a piece that was so well done that that's why I put the audio up. That's why I want to talk about it because we are the marketing group for all of this. There's never been a marketing department for Bitcoin. Except, you know, maybe Jerome Powell and central banks around the world and Christine Lagarde. We we joke about that, but, you know, I I'm just I'm just not gonna buy it. Okay? I'm I'm just going to stick to my guns and say that the only true marketing department for any of this, whether it's Bitcoin, Lightning Network, eCash, Fedimint, Nostr, Pearstack, Keith, gossip clients, whatever you wanna talk about. Alright?
The only marketing that's going to be done is going to be by us. And I I don't know if the people that did this particular piece got paid for it. My gut feeling? If they did, it barely covered their cost. Right? Because this is a very very well done. Lots of editing. Sure, anybody can go out and they can take a bunch of video with some really high quality cameras. Hell, most of the new iPhone cameras are really really superb. And you can do all kinds of lensing stuff with iPhones to make it look damn near professional. But that's not where profession actually that's not where the rubber meets the road in this profession. It's the editing, where you actually have to take all of these footages and try to make a story out of it.
And telling a good story is the heart of marketing. That is in fact what marketing is. It's you've got to tell the story. Right? So here we got these people that are going out, they've taken all this video at these conferences, they've edited it all together into a slick looking package. The color correction is really good. The resolution is top notch. The audio is well done. But clearly it's the editing. Right? It's the editing. So we're all responsible for getting the word out on whatever it is that you want to get the word out on. We can we do not have the money to go to, you know, like, I don't know, a slick ass advertising agency and say, hey, you know, what you make this commercial for for Nosterbooth?
Right? No. That's just not gonna happen. And when I see pieces like this, it makes me feel so good to be part of this thing that where we are all learning how to have fun staying poor. We're doing shit on a shoestring budget. Lots of us have just forgot about even trying to go work a fiat job for a paycheck. Because none of it makes sense anymore. There's all manner of people that I hear from all the time now, either through interviews or directly, you know, through direct discussions that I'm having with them, or DMs, or whatever, where they're like, I just can't do this shit anymore. I cannot pretend that any of this is okay.
That's because none of it's okay. What's been done to our world, our societies, whether you're English, German, Eastern European, Latin American, Canadian, living in the United States as an American, it's all been destroyed. Yeah, I was talking to somebody yesterday and I said, look, you know, like the people that are in either generally speaking, like hardcore conservatives will talk about the attack on the nuclear family, how the Democrats are trying to destroy the nuclear family. And what I said was, You missed the boat. The damage was already done with the destruction of the extended family.
And that was one of the pieces of real actual wealth that was stolen from us. And it was replaced with this idea that if you don't have a yacht by the time you're 25, you kind of suck for society. If you're not a rich banker wearing, you know, Brooks Brothers suits, you really don't matter for society. You can't believe you don't live in a city like New York City. You've got to go where the jobs are. You got to leave your family. You got to get to where the jobs are. Because without without one of these top notch jobs, you're nothing. When I talk about what real wealth is, one of the things that was real actual wealth was an extended family, where you had multiple generations either living in the same house together or so damn close that you might as well have been. Like, next door or down the street.
Definitely in the same town. That town not be in Dallas. Not be in Fort Worth. Not Houston. Not LA. Not Chicago, not New York, just a little town. That was real wealth. There was real wealth there. And the extended family was completely and utterly destroyed. And now when you talk about the fact that, oh hey look, maybe, maybe, just maybe, you know, 2 generations of families living together, you should be embarrassed about that. Should you? I mean, if if your children still live with you and they're in their twenties, maybe, you know, just hear me out. If they're complete slackers and they don't do anything but play video games, that's a problem.
But if everybody's employed and it's just easier to work together as a family, as an extended family, I don't see the issue. In fact, I see strength in being able to tell the rest of the world, screw you. I don't want my family living 2,000 miles away. Right? That's part of the reason that we find ourselves where we are, where a lots of us do not want to take part of that world any longer because it doesn't make any sense. And it certainly isn't fulfilling. Anxiety is at all time highs. Depression, all time highs. Suicide, all time highs. Prices for everything that shouldn't cost anywhere close to as much as it does, all time highs. And it just gets worse and worse and worse. Now we've got Iran and Israel that looks like they're just gonna go head to head, and that puts us firmly on the side of Israel and Ukraine, and Russia firmly on the side of themselves in Iran.
Right? That is another proxy war. It's another Korea. It's another Vietnam. Only this time is probably going to be worse. So my question is, why wouldn't we want to figure out how to have fun staying poor? Because we're not really poor. The video that I saw that I looked at you know what I saw? I saw tons of friends that have forged relationships over the last 5 years that are probably going to outlast any of their childhood friendships because we were forged in fire. We're in this time that by itself is a hellscape of sulfur and whatever they have. What is it like? Was it brimstone? Yeah. Sulfur and brimstone.
And yet through it all we have these things. We have Bitcoin. We have Nostra. We have Lightning Network. We have e cash. We have Fedimint. We have all kinds of neat stuff. And so many of those same people are just saying, I don't need what I've been told I need. And that's where the future gets built. That's how we're going to build the future. It's not only an attitude that it needs to be done, It's an attitude that readjust what we think wealth is and what we are willing to work on for a pittance because it makes more sense. Because the minute that you figure out that that bank account, that bonus check, those suits, that Chanel number 5, the sushi restaurant that cost at least $500 to even look at, The Dom Perignon, the Cristal, the Jets, the yachts, the 5 houses.
It's a prison. Dharav is telling us all about what a prison it is. So let's start there, in fact. Telegram users report massive outages on the messenger app. Couldn't possibly be coordinated, could it? Cointelegraph, Helen Park. Cryptocurrency friendly messaging platform, Telegram, is experiencing massive outages with multiple users reporting issues accessing content on the messenger. According to data from Downdetector, 100 of Telegram users reported issues in server connection on Telegram starting at around 12:30 am UTC today, October 3rd.
The most reported issues included problems with sending and receiving messages and other connection issues on the app. Outage.report reported on Twitter that Telegram has been down since 10:22 AM. The connection incident reportedly affected users from countries like get this, couldn't possibly have anything connected with the countries that are affected like Ukraine, Belarus, Poland, Kazakhstan, Russia, Netherlands, and Germany. According to Downdetector, the latest outages on Telegram followed a smaller outage detected on October 2nd being yesterday. Post on Reddit confirmed the outages on Telegram with some users pointing to issues with server connections as well. Quote, here in Germany, the app doesn't work properly.
No way. There seems to be no server contact because my chats are all there, but it won't load any newer messages, one redditor wrote. Quote, it's been down for about an hour now, another Reddit user stated. Telegram has suffered significant outages on its platform before. According to outage. Report data, Telegram previously experienced a mass outage that lasted for 1 hour and 28 minutes back in June. The app also experienced an outage of almost 2 hours in April. The outage came amid Telegram CEO Pavel Durov, hinting that the messenger has been disclosing IP addresses of criminals to authorities since 2018 yesterday, October 2nd.
The CEO is currently under investigation in France. Yes. We know all that. And neither Telegram nor Durov have addressed the outages publicly at the time of writing. And they've they are also not giving any statements to, Cointelegraph. Okay. Look. This very well may be this very well may be a couple of different things. It could very it could very well just be a coincidence. I don't think so. That does not does not where my gut feelings are taking me. So it's probably 1 or both of the following two things. When Pavel Durov made the statement that these they've been disclosing people's IP addresses since 2018, I could see 2 things happening concurrently.
Governments that are, you know, figuring out that they can get whatever information they want from, from Pavel Durov are making requests and they are and Pavel Durov's team is actively scraping the servers for all information, which means that there's a heavy load of requests going on on those servers. The second thing that I think is happening concurrently is that the users who have finally figured out that they've been had lied to yet one more time are actively getting onto Telegram to see if they can scrub anything that they can scrub. Spoiler, you can't.
You can delete all the Telegram messages you want. You can delete your phone number. You can delete your whatever. You can delete your whole fucking account. It's not going to matter. They already scraped your data a long time ago. That shit, every word you said is sitting somewhere and you erasing whatever it is that you said on Telegram that you think you might get in trouble for. I'm sorry for you. It's too bad. We got had. Now I hate Telegram. I always have. And people go, but you're missing out on on one of the largest, you know, ways that you can connect and network, you know, for the Bitcoin and show. I I'm like, I'm looking at this thing going, what a mess.
Every time I open that open that app, I just get I'm looking at it going, this is ridiculous. Somehow or another, I've got 80 names in my left hand bar. And every time I go to one of the ones that's pinned, I'm picking up in a conversation that started 5 hours ago. And there's 5 different conversations involved in that conversation, and I can't pick through any of them. It does that that entire platform and interface makes absolutely no sense. So I don't have anything to worry about on that one. I wish none of this was happening because there's a lot of people I do know on Telegram, and they've probably said some shit that they they regret only because they don't wanna get thrown in the slammer or they don't wanna have the ire of, you know, of a government government upon them or they possibly just are just nervous, you know, because they said something. Who knows? It doesn't matter. Right? Just understand that I think that the outages are happening because the servers are being overloaded with requests for information from the people that are the baddies, and there are requests for information to be scrubbed by the people that are the good people.
And that's probably what is causing some of the outages. I could totally be wrong. But even if I am, I still think that that is what is go I I still think that even if it's not causing the outage, governments are hardcore going to Telegram saying, I need this, this, this, this, and this, this. Because they know that the cat's out of the bag and people are gonna stop using Telegram. Not all of them clearly. But the ones that probably have the most to hide from their governments are probably saying fuck it. I'm done. We got to find something else. Maybe they'll go to, what, Simplex?
Maybe they'll go to Signal? Who knows? I, you know, I don't know. All I do know is that we have Noster, and if we can get our shit together and stop thinking that wealth only means $250,000 paychecks, then we might actually be able to build the future that we want to live in. I'm just saying, okay? Now let's get over to Meta Planet. Over in Japan, Bitcoin holder Meta Planet sells BTC options to boost coin stash. Let's see if they're selling these brand new BTC ETF options. CoinDesk James Van Stratton writing, Tokyo listed Bitcoin holder Meta Planet Incorporated is now using Bitcoin options to boost its coin stash diverging from its peer, the United States listed MicroStrategy's debt fueled accumulation strategy. Ah, forking the strategy, are we? On Tuesday, Meta Planet announced the sale of 223 contracts of Bitcoin put options at the $62,000 strike with a maturity date of December 27th.
The transaction involved Singapore based QCP Capital as the counterparty and generated a premium of 23.97 BTC which is about right now, I don't know, a 144,000,000 no. A 100 $1,440,000. Sorry. 1,440,000. CoinDesk reached out to QCP for a comment. I guess they didn't get one. Meta Planet posted 13.8 $26,000,000 as its margin collateral, with each contract offering 0.1075 BTC in premium, which Meta Planet received upfront. The transaction resulted in a nominal yield of 10.75% and an annualized yield of 45.63 percent. The $13,826,000,000 of margin collateral came from the proceeds raised during Meta Planet's 11th stock acquisition rights exercise.
The purpose of this collateral is to ensure Meta Planet can meet the transaction if the option is exercised. Meta Planet will use the premium received by selling put options to purchase more Bitcoin. The company's total Bitcoin holdings now stands at 530.71 BTC, roughly around $32,000,000 A put option gives the buyer the right, but not the obligation, to sell the underlying asset at a preset price on or before a specific date. Meta Planet is a put seller, meaning that it is obligated to buy BTC at the strike price of $62,000 even if prices are lower on the day that those contracts expire.
If Bitcoin's price drops below $62,000 by the time of the maturity date The buyer will likely exercise this option, forcing Meta Planet to buy 223 Bitcoin at the higher strike price. Therefore, Meta Planet's Bitcoin holdings would increase by 223 Bitcoin even if the market price by December 27th is lower. However, the premium partially offsets the spot price risk. If Bitcoin's price is higher than 62,000 by December 27th, The buyer is unlikely to exercise the option since they can sell Bitcoin on the open market at a higher price. The option would therefore expire worthless while Meta Planet keeps the 23.972 premium as profit.
So this is a very, very different style of going after Bitcoin acquisition than we're used to seeing from MicroStrategy. MicroStrategy's Bitcoin strategy is basically to print new, well, to print corporate bonds and or sell more stock to buy more Bitcoin. That's what they've been doing. It is 100% debt. Meta Planet, probably because Dylan LeClaire is now part of that crew out there, is using a little bit more of, in my opinion, more of a traditional way of getting not just Bitcoin but any asset through the use of these market technologies that have been around for decades decades decades. The put option stuff, right?
Strike prices, all that kind of stuff, sell options. All of this stuff has been around forever. It looks to me like Dylan Leclerc has talked Meta Planet into using these more traditional formats and get less creative in being able to acquire more Bitcoin, but in being less creative by using these older things in a new way, it actually shows an amount of creativity that we have yet we we just saw it for the first time. We're we're seeing this basically for the first time at the corporate level for Bitcoin acquisition strategy that is not a direct mirror image of MicroStrategy. In my opinion, this is actually a good thing even though I know there are some people out there listening to me going, but they're using legacy financial tools and therefore, it's going to pollute that which they are trying to acquire.
I'm gonna say I understand your sentiment. But if a tool of the enemy can be used against the enemy, then use that tool against the enemy and make sure you strike as deep in its heart as you can. Good for you, Dylan. I'm glad that you're at least on our side for now. US spot Bitcoin ETFs saw a $91,000,000 outflow yesterday, and that was led by ARKB fund. This is out of the block written by Timmy Shen. US spot Bitcoin exchange traded funds saw outflows of 91,760,000 on Wednesday, extending their streak of negative flows to 2 consecutive days. ARK and 21 shares ARK b led the outflows on Wednesday with $60,280,000 of that product leaving.
Grayscale's GBTC, the 2nd largest spot Bitcoin ETF by net assets, recorded 27,310,000 in net outflows. BlackRock's Ibit, the largest ETF, reported net outflows of a mere 13,740,000, marking its 1st daily outflow since September 9th. Bitwise's BITB experienced outflows of 11,510,000, while the 7 other spot Bitcoin ETFs logged 0 flows in or out. The total trading volume for all of these ETFs shrank to $1,660,000,000 on Wednesday, down from $2,530,000,000 on Tuesday. Bitcoin edged down 0.46% over the past 24 hours to trade at around 61,183 at the time of writing, while ether slid 3.77% to change hands at, I don't know, whatever it is that you wipe your butt with. That's just a whole shit show that I don't even like getting into.
Alright. Let's see. Where are we at? Okay. Yeah. Let's run the numbers. CNBC Futures and Commodities starting us off with oil, 4.6% to the upside for West Texas Intermediate. It is now back up to $73.35 a barrel. Brent Norcey up 4 and a third to 77 point $11. Natural gas up 2.6. This is one of the first times that I've ever seen natural gas move in the same direction as oil for 3 consecutive days. So, 2.96 dollars is what you're getting for 1,000 cubic feet. Gasoline up 4.5 percent to $2.07 a gallon. Gold is up a tenth of a point. Silver is up damn near a full point, but platinum is down 1 and a half. Copper is down over 2 points. Palladium down just at 2 points.
We got lumber. We'll see. What's lumber doing today? Lumber's down half a point, but that's not the biggest loser because the biggest loser is coffee. Two points to the downside. Biggest winner is sugar. Almost two points to the upside. I got live cattle down 0.79%. Lean hogs are down a half. Feeder cattle are down over a half. Dow is down a quarter of a point, but the S and P is making up for it, but it's basically just sideways, I guess. 0.02% to the upside for S and P. Nasdaq is up 0.16%, while the S and P mini is down 0.12. And we are struggling with Bitcoin's price again today because every time you let the bears out of their cage, they just take a shit all over everything.
It's $60,130. That is now a $1,190,000,000,000 market cap. And we can only purchase 22.6 ounces of shiny metal rocks with our 1 Bitcoin, of which there are 19,762,227.36 of. But fees remain low at 0.05 BTC on average on a per block basis. And there are 88 blocks. Wow. I haven't seen the mempool this light in a while. Mempools, I should say. The mempools, plural. There are many of them. 2 satoshis per vbyte is high priority. Wow. That is cheap. Low priority is gonna get you in also at 2 satoshis per vbyte. 659.8 exahashes per second is the hash rate. Do with that what you will.
And leak like a sieve is yesterday's episode of Bitcoin. And God's death with 537 says thank you, sir. No thank you. Pies depleb with 420 says thank you, sir. No thank you. And then I got one from Nim who said, looking forward to the show, but there's no boostagram from her. So I don't know exactly or her, the avatar is a female clearly. So, I don't know how it got in here. That's okay, though. I appreciate everybody that listens to the show and takes their time to throw me a message. That's the weather report. Welcome to part 2 of the news that you can use.
Wall Street aren't Bitcoin maximalists. Example number 15. This is from Pete Rizzo out of Bitcoin Magazine. Nothing stops this train. Nope. I'm not talking about the Federal Reserve Money Printer. I'm talking about the string of ETF announcements from Wall Street and the related crypto firms servicing it this week. I'm talking about today's hybrid Ethereum Bitcoin ETF, yesterday's XRP ETF, and what will likely be 20 25's Basket Meme Coin ETF, offering exposure to everything from Pepe to Giga to Harry Potter, Obama, Sonic, 1 o I n u. If your takeaway from the arguably dismal ETH ETF launch is that there won't be more crypto ETFs. I'm sorry. Sorry. But you're looking past the $1,000,000,000,000 price tag on the rest of the crypto industry.
Wall Street wants to sell products to make US dollars. And they will continue to do the things that make the dollars. Okay. In a bear market, maybe that's not an Ethereum ETF. But it's hard to imagine that in a world where the US regulatory environment continues to become more advantageous to the industry, And there aren't 15 to 20 of these ETFs all pumping in a bull market. Maybe you've forgotten how in 2017 XRP pumped to $4 and Dash went to 700. I remember. How in 2021 JPEG sold for 100 of 1,000,000 of dollars. Newsflash, 80% of ETF purchasers are retail buyers and that's according to BlackRock.
Maybe you think all of our proselytizing to the likes of Rick Rubin has seeped somehow into the collective consciousness. Maybe you're betting on Kamala Harris getting elected and that she will continue to let Gary Gensler and the SEC run Rashaad over crypto. Fair enough. That's not a world that I see. The Bitcoin crypto voter constituency is here. And whether it delivers the election to Donald Trump or it wins concessions from the Harris administration, that means more ETFs, not less. Certainly, not a world where there's only a Bitcoin ETF anytime soon. Again, Wall Street is not embracing the tau of Michael Saylor. They don't see President Nayib Bukele as a developing world savant. They do not believe Bitcoin is a bulwark against money printing. And no, it doesn't matter that they are writing research reports to that effect.
They will say whatever they can say to sell more ETFs to make more USD because they are not convicted buyers. They are convicted sellers, and there's a difference. He's not wrong. He's not wrong. So what here's what's happened. We've we got Bitcoin pushed into and I'm going to say this is like from my start, back in 2015, when I got my start in Bitcoin. From that time, we've taken Bitcoin and got it into the world spotlight, but not mainstream media, by the time we hit 2016. But what came up after that? What came up alongside that? And then we saw a huge what they what they call it, not scandemic.
What was that thing? Oh, the Scambrian explosion. Scambrian explosion of shit coins. The entire altcoin world came up in 2016, 2017, and it never left us. Sure. There was altcoins before that. I get it. But you if you weren't around in 2016 and 2017 and you didn't see Vortex and Tone Vays interviewing some hot ass chick in a bikini at the Bitcoin conference. 1 of the I think the first one in Miami. And and she stated that she was now the chief investment officer of the shitcoin company. And when they asked her what she did before, she stated that she had been homeless. Listening to that interview was like nails on a chalkboard.
And that was par for the course on a Tuesday. I'm not exaggerating, guys. This actually happened. If you want more about it, go Vortex, go look for the 1 Vortex either on Twitter, which he doesn't really engage with anymore. But he has been engaging on Noster. Go look for Vortex, also known as the one vortex. Go ask him about interviewing the homeless chick that was a c suite officer at a shitcoin company that him and Tone Vaz interviewed outside of the Bitcoin conference in Miami. He'll tell you, I ain't lying about this shit. It was like that all the time.
Well, here's what's happening now. We pushed Bitcoin to world spotlight status, and a whole bunch of shitcoins came up along with it and stories like I just told you. Now, Bitcoin's been pushed all the way to beyond mainstream media to where now there's institutions. But instead of ginning up a whole bunch of shitcoins, they're just going to gin up a whole bunch of shitcoinETFs. There is no difference between the two worlds except for the scale. It's gonna be the same shit marketing. It's gonna be the same people posting the suicide hotline number on Reddit.
It's gonna be the same thing over again because humans never learn. We just do the same stupid shit at ever increasing scale. It's sad. It really is. It's just the saddest damn thing. But we have good news. I'm going to talk again about Nostrobooth. A Nostrobooth. And this is the geyser.fundforward/projectforward/the Nostroboothinitiative. Okay? Go to geyserfundgeyser.fund and look for the nostrboothinitiative. You can just type it in, all one word, probably, because that's actually the URL. Forward slash project forward slash all one word the nostrboothinitiative. Right? And you can help fund this Nostrbooth.
And it's basically to bring Nostr to all the Bitcoin conferences in as many venues as they possibly can. Latin America, Central American venues, Eastern European and European venues, Asian venues, you name it. Hopefully, African venues as well. They want to bring Noster to all the people that are the most receptive to censorship resistant communications. And you can help by going to geyser.fundforward/projectforward/the nostrilboothinitiative. And you can be one of the contributors that have already contributed 15,000 861 USD.
And that would equal 25,240,000 satoshis. Alright. So they're doing well in this geyser.fund. But let me just read you let me see how long this one is. I'm gonna read you the very first part of the project description, okay, in case you didn't get it from the audio that I brought you at the head of the show. This is not just another Nostra booth. This is a 3 country Nostra tour that includes 3 major booths at 3 conferences along with satellite events in each city, onboarding and technical workshops, conference activations, documentary footage, local Nostra content, and so much more.
Where where the first Nostra booth was hosted? It was in BTC Prague. The 3 day conference attracted over 6,000 attendees and featured more than 50 booths. While it was not the biggest booth, it was the most visited. Let's say that again. Out of 50 booths and 60,000 attendees, the Nostra booth was the one that was visited the most. Derek Ross helped create the first of these Nostra booths at BTC Prague, and it was clearly a huge success. But the journey continues. Inspired by that incredible response, we're taking the Nostra booth on the road.
Stage 1: Latin American Nostra events tour. Stage 2, the global Nostra booth tour. And they go on to say something about that. If we're successful on the Latin American tour, I want to leverage what we've learned and take the Nostra booth on a world tour in 2025. There are more than 50 Bitcoin conferences next year and at least 10 that we should be present at, including Bitcoin 2025 in Vegas, Bitblock Boom, and another round, of course, at BTC Prague. So that's, essentially, that's what's going on here with this. If you're hearing a lot of stuff about the Nostra booth, I think it's a good project.
Derek Ross and the rest of the crew that's behind this whole thing, they're all super passionate about doing this entire thing. So you can get let's see, for $9 you can be a Pleb supporter. That's just under 15,000 sats. You can be a Pleb Plus for just over 80,000 sats. That's about $50. Let's see. What is this one? Gigapleb for just under $100 and highlight for $200 or 328,000 sats and change. So if you're wanting to support Nostr at these events, this is your way to do it. It will be in the show notes, a direct link to geyser.fund/project/thenosterboothinitiative. Gossip version 0.12.0 bookmarks per relay feeds, and more.
Gossip is a highly performant and security oriented desktop client for, you guessed it, Nostr. It's available on Windows, Mac OS and Linux. This is a major gossip release that comes with bookmark support, per rate relay feeds, friends of friends scores in avatars, improved spam filtering, updated emoji picker, and more. So what's new? Bookmark support. This is good. I like bookmarks. Global feed and per relay feeds with volatile storage erased when you quit. Interesting. Friends of friends scores shown in your avatar or in the avatar rather. Improve spam filtering script with more inputs upon which to make decisions.
And then there's a whole slew of minor changes. But gossip is yet something that I have not used yet. In fact, I don't even know if I've got it if I have ever even installed it. But this I wish that they had explained what a per relay feed was. Cause here's what I want. I want a Nostra client that surfaces beyond a shadow of a doubt that I am in a section of that client that is designed to do one thing and one thing only. Put together a Nostra client or rebuild that Nostra client just for me to where I have like like the only relay that I have in one feed. And all is like, I don't know, anime.com.
Like the wss.feed. Anime.relay. Okay? And I own in that in that column, all I see is just from that feed. That's all I want. That would give me the ability to change the flavor of my Nostril client in a like I know what you're saying, especially if you're close to a developer or you're knee deep into the weeds of something like Coreacle and, or satellite earth, satellite dot earth, which is another really nice Nostril client, you're going to tell me that we can already do this. It needs to be blindingly evident in the client.
I don't need to go search for something. I don't need an instruction sheet. Don't make me think about it. That's what I'm getting at. I want to be able to literally go over to something like Oracle or Primal or Amethyst or Domus or whether it's on desktop or on mobile. And I want to go to that client and have that client tell me, hey If you want to put together 2 or 3 relays, hit this button or something like that. Something that makes it evident that I'm going to build a custom client right there in this client. And by custom client, like, be able to turn like, go to settings and say, okay.
I want you to build me a single column that has these 3 relays in it. I want you to turn off DMs. I want you to turn off notifications. All I want to see is this one column of feed from these 3 relays. I don't want anything from my followers. I don't want anything from followers or followers. I want all that shit turned off. I just wanna see what's streaming through that relay. Again, I know what you're saying. You can already do that. Yeah. I need to make sure that I can find how to do that within, like, 5 button clicks just through the just through the interface. I don't want a tutorial.
I don't want to watch a video tutorial. I don't want to listen to an audio tutorial. I don't want to read somebody's blog post. I just want it there. I want to be able to go this looks like this client looks like it's enabling me to just say I want this feed, but I only want to see what's being posted in this relay's feed by my followers that have above a 100 WOT score or web of trust score. And for those of you that hate web of trust, I get you. I feel you. I understand. I'm just I'm just putting it out there as an example. Okay? That's what I really want.
And beyond that what I really want is a client that allows me to look at a nostril feed, allows me to look at a different mastodon feed, like the old the way that the old tweet deck used to act. I want to be able to have API calls in one column, API calls from a completely different, you know, federation in another column. Like, Noster in the left hand column, mastodon in in the right hand column, and on the right hand side of that, a a like a different custom nostril view. And on the right hand side of that, another column that is from a completely different feed from Mastodon like, podcast dot social rather than like no authority dot social.
Right? So that I could have, like, multiple columns. I want that. I want that so badly it's not even funny. So somebody who knows how to do that shit, if you could do that that would be awesome. Diamond wallet is a lightning wallet with bolt link and sats for ads functionality. I hope they describe sats for ads. Diamond Wallet, self custodial lightning wallet from Japan and Asia, built using the Breeze SDK and nodes from Blockstream's greenlight. We're excited to announce the beta release of this wallet, a self custodial lightning wallet that enables users to earn sats, oh, god, by viewing ads. Well, that's I was wanting something like satvertising.
Oh, well. The app is still in beta, but it already supports all basic lightning wallet functions and can be tested with real sass. We have about 200 testers from Japan now. With beta release, we'll slowly expand to other markets, add important features like credit card channel opens, improve UI, UX, etcetera. Lots to build, but we're not in a rush and committed to pursuing the self custody path, said DiamondHands cofounder and CEO, Koji Higashi. The wallet also integrates BoltLink and SATs for ads functionality, making it unique in the wallet world that pays its users directly in a self custodial manner. Quote, BoltLink is inspired by the early work of LNTXbot and its SATs for ads service developed by Fiat Joffe.
Although the service was discontinued some time ago, we are resurrecting the concept with self custody and a more flexible link generation scheme as was stated in the blog post. So, BoltLink, it is like Bitly, you know, bit.ly, the little URL shorteners, but with lightning payments. You click a link, you watch an ad, and you earn Bitcoin. Only users with a lightning channel can claim rewards keeping it secure and spam free. Then there's the self custodial and basic wallet functions. You are in charge of holding your funds. Get Diamond Wallet at the Play Store link and on iOS test flight.
What's next? Well, DiamondHands plans to improve the wallet and BoltLink by bringing the following features in the coming months. The ability to open a channel via an in app purchase. Oh, that would be interesting. Compatibility with other lightning wallets built on Greenlight. The ability to push advertisements directly to wallet users. And, of course, a referral scheme. And if you wanna know more about that, they have the blog post, the Stacker News discussion, and the GitHub repo. And you will have full access to this URL that you can go to because I put every URL that I talked about if I can in the show notes and this one's going in.
Finally, for the day, Nunchuk Android version 1.9.52 and iOS version 1.9.55, decoy wallets. The latest release of nunchuck mobile apps includes decoy wallet functionality, a revamped security pin, the ability to mark used addresses, export transaction histories as PDFs, and more. Decoy wallets are bitcoin wallets that store small amounts of bitcoin to protect against attackers. To facilitate this, Nunchuk implements 2 separate pins, a decoy pin and a security pin. In a threatening situation, you can enter the decoy pin to access the decoy wallet and hand it over, potentially defusing the threat.
Use the security pin to access the main wallet. Nunchuck for Android now also supports reproducible builds. Reproducible builds use practices that ensure your device's binary matches the published source code, allowing for independent verification. And, yeah, that's about all that there is. I like the decoy functionality that we need to have way more of that stuff. Okay. So that is it for the day. A reminder that we are the marketing department for all of this. So essentially, that makes us the marketing department for the future. That's a pretty weighty way to say it when you think about it. If we want to have any kind of future, like, you know, at all, that doesn't resemble hell on earth or some kind of sick twisted version of George Orwell's 1984, then we best get off of our asses and figure out how to be happy and have fun staying poor.
We used to say this to people all the time, and it was a derogatory comment. But the more that I used it and the more that I would watch, you know, like, you know, the the the value of Bitcoin just go on this this eternal roller coaster ride, What I realized was that even in the up on like seriously up days, people were not buying anything. They weren't selling their Bitcoin. And then in the on the low periods, you'd see people like, you know, all of a sudden they you'd see the Woah, Jack that starts putting on the McDonald's hat. Right.
And like I get from this, I get a sense of the personality or a sense of the general disposition of the Bitcoin world. And I've been here for a long time. What I finally discovered is that a lot of us are figuring out that when we say have fun staying poor, what we're really talking about is that we need to figure out a way to have fun staying poor so that we can get through these times and have a different kind of wealth. The wealth that has been presented to us as the type of wealth you should have we're not being allowed to access and have not been allowed to access for decades.
Unless you want to go get your Series 5 to go trade or whatever the thing's called to go trade equities on Wall Street and you want to live in that world, you're not gaining access to that wealth. And even if you do, only 4% of those guys actually make anything of themselves. And you've got to be into the top one before you are driving around in the limousine with the Cristal and 12 hookers. That's the way it is. Same thing with real estate. Same thing with mergers and acquisitions. It's all it's all just elitism now. It's all handed down.
There's no real functional wealth that is available to the masses of the planet anymore. No, I'm not saying wealth redistribution. I'm saying Bitcoin. Bitcoin fixes this. Because when you have the ability to print the money, that automatically comes with your ability to give the money to whoever you want. There has never been a time in the history of printing money that those who printed the money did not have the execution to send that money to whoever they wanted. It's not like they printed it, and it just accidentally always fell out of the window and the people of that country were down below that window collecting up the money. That has never happened.
So understand, when we say that they're about to print money again, they're also about to select who gets that money. We never say that. We might know that, but we never actually say it. Printing money involves 2 things. The printing of the money and the giving out of the money. And that means the selection process of who gets the money. And it ain't you, and it ain't me, and under this system, and I'm not talking capitalism, I'm talking about globalist elitism, you're never going to get what they told you you should get, what they told you you have to have to be a functional person in the society. Yet we forgot that there are there are whole shit there's a Bible story. I want to say it's Jacob. I can't remember.
It was a brother. Got sold down the river. He ended up doing some really kick ass shit. This is all old testament stuff, man. I mean, this is like I think this is actually in before Exodus, maybe at the end of Genesis, somewhere around there. It's old. It is as old, old, old as it gets in the Bible. And there's a story where he's gonna meet his brothers again. And he's for some reason very worried that his brothers will, I don't know, kill him or do something bad to him again. So he says, you know what? I'm going to send I want he he he talks to his head guys because he's got guys. He's this he's wealthy, right? He's got his guys. And he tells us guys, he's like, okay, I need you to go around to the herds, and I need you to gather up 50 rams, 50 camels, 50 sheep, and he goes on like this.
And it's like a while. It's like, I think it ends up being like 4,000 head of animals and they're all different kinds. He goes, I want you to take these gifts to my brothers. Go ahead, Go before me and take these gifts to my brothers. Meet my brother and tell my brother that these are gifts from me and that I want everything to be okay again. And this you might laugh going, well, he's so he's sending some donkeys. Okay, I understand that. That was wealth. That was real, actual wealth. And you'll say: Well, we have airplanes now. We don't we measure our wealth differently. Is it any better? Can you safely look around what's going on in the world today and say, it's better now than it was when we were measuring our wealth in livestock?
And that that was respected. You know, I'm just saying. When they moved everybody out into the cities and everybody had to leave their rural confines, we left the entire concept that soil was our wealth. The animals upon it were our wealth. They fed us. They fed our friends. They fed our family. They clothed us. I know what you're I know you're thinking this, or some people are thinking this, I don't want to walk around in animal skins. Come on, man. Make the stretch. Meet me halfway between the semblance of what we used to think of as wealth and where we are in modern day. There is a point at which those two worlds can meet, But we're not at that point. We are so far to the modern side that we have forgotten so much about the entire other side of what wealth used to be that we can't think straight.
But if somehow we're able to fuse what we used to think of as wealth with where we're living today then we might be able to use things like Bitcoin, and Lightning, and eCash, and Nostr, and Pearstack, and Keat, and all of these things. If some of us are willing to take the financial hit and learn how to have fun staying poor, we can build this thing. And we won't have to be poor forever. And I'm not saying that they're not saying that that this means that you're gonna get the yacht. It just means that would you rather just be happy? You know, happy in so far they say you got enough money that you ain't got to worry, but you don't give a shit about buying the the the buildings in downtown Manhattan because you want to be that guy.
You just want you want to build, but that's not building that's just buying and selling. You actually want to build the building. You actually want to put those crews together. You actually want to engage in the commerce of that which is constructed. That which you from the soil through your own two hands that never existed before being able to do that is wealth. Just buying and selling somebody else's creation that's not wealth creation that's parasitism. I'm sorry, but it is. And the real estate agent that's listening to me is like, I'm never going to listen to you again. Okay. I'm sorry, but I mean, it's not that you're a bad person, but it is a little bit of parasitism because you didn't build the house and then sell it.
You're getting a commission on selling the house for somebody else. And that one, I'm okay with that. I really am okay with that because somebody needs you to sell their house. That one, I am okay with. But this, when you get into the upper echelons of some of this stuff, it doesn't make sense anymore because only a very few people have ever gotten it and fewer and fewer people are going to have access and access to it in the future. If we revamp what we think about what wealth is, we've got a chance. If we revamp what we think makes us happy, we got a chance to get out of this.
And ladies and gentlemen, Bitcoin and Nostra and whatever comes behind it on Freedom Tech, this is our only chance. We have one shot. We better make it good. I'll see you on the other side. This has been Bitcoin and and I'm your host, David Bennett. I hope you enjoyed today's episode and hope to see you again real soon. Have a great day.
BTC Options and Market News
Nostr Booth and Community Engagement
Marketing and Storytelling in Bitcoin
Reflections on Wealth and Society
