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Episode 1161 of Bitcoin And . . . is LIVE!

Topics for today:

• Coinbase's AI Backend
• American Bitcoin Listed on NASDAQ
• India #1 in "Crypto" Adoption
• Satlantis in Focus
• El Salvador's Gov Run BTC Conference

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Oshi
 Artisan pecan butter, date bars and chocolates
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Today's Articles:

https://cointelegraph.com/news/coinbase-says-ai-writes-nearly-half-of-its-code
https://www.coindesk.com/markets/2025/09/03/trump-linked-bitcoin-firm-american-bitcoin-targets-usd2-1b-stock-sale-after-nasdaq-debut
https://bitcoinmagazine.com/news/u-s-bank-resumes-bitcoin-custody-services-for-institutional-investors-adding-support-for-bitcoin-etfs
https://decrypt.co/338003/bitcoins-price-static-hash-rate-hit-record-high
https://preestigedigitalgarden.vercel.app/
https://bitcoinmagazine.com/culture/satlantis-is-discovery-bitcoin-nostr
https://cointelegraph.com/news/ecb-president-risks-non-eu-stablecoins
https://bitcoinnews.com/adoption/bitcoin-historico-el-salvador-conference/
https://www.theblock.co/post/369420/india-leads-global-crypto-adoption-chainalysis

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Licensed under Creative Commons: By Attribution 3.0 License
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[00:00:02] Unknown:

It is 08:39AM   Pacific Daylight Time. It is the September   2025.   This is episode   eleven sixty   one of Bitcoin.   And yesterday's   episode, I called it 10:60.   No. No. It was it was 11:60.   Mistakes   are made here at the Bitcoin and podcast where you're coming   to find out all the news that you can use about Bitcoin and more. Today, we've got, well, we got Coinbase   and AI and   and code.   As if Coinbase   had to inject any more potential problems with their code base.   AIs come into play.   Trump linked American Bitcoin   has apparently taken off. I know. I know. Let's we'll we'll   again, this is the news that you can use, and you may want to know what the hell is going on because,   honestly,   Trump's not really helping himself   on the front of, I I don't have a conflict of interest.  

And if that conflict of interest gets too gets a little too thick,   it could cause them some some real political problems. I I I it I'm neutral.   I don't care either way. I'm just saying   it would be   remiss of me not to report on the fact that   the farther and farther   Trump goes with this, the more and more it looks like it's going to be a very easy argument for conflict of interest. I'm just I'm just saying.   Okay? US Bank   has resumed   some Bitcoin services. I guess they got out of the game for a little while. And then   the hash rate   going   nuts. The hash rate, the the amount of hashing behind the Bitcoin network that secures the network   is really exploding, and we've gotta talk about it.  

Satlantis.   A new release of Satlantis   has been dropped   that was actually dropped a a couple of weeks ago, but Bitcoin Magazine's   Jordi   Esteev   or Esteev, I don't know how to pronounce it, has a write up on Satlantis,   and I wanna bring it to you because a lot of people   you know, the Satlantis   guys, I   it's all about marketing.   It really is. Not not Satlantis,   but if you haven't heard of Satlantis, it's because they don't they don't really market it. I mean, unless they're doing it on Twitter, it certainly isn't on on Noster. But even when I go check out Twitter, I don't see a whole lot of   Satlantis   stuff. You know? Everybody knows what bit BitX is.  

You know that's well that's that's well marketed   satlantis   not really well marketed so I want to tell you about it because it is a really useful thing   and here we have ECB   president Lagarde   being scared and frightened and cowering yet once again we'll get into it.   Bitcoin historico   El Salvador   seems to be hosting another Bitcoin conference but it's   organized   by somebody rather surprising, honestly.   And then India. We're gonna get into India. We're gonna pull apart what's going on over there,   but let's go ahead and start with Coinbase.   Braden Lindry is writing this one for Cointelegraph.  

Coinbase CEO wants   AI   to write   half   of the platform's   code   by October.   September, we just entered September.   September, October. Oh,   by next month, he wants 50%   of all the platform's code written by   artificial intelligence. What what could possibly go wrong? And for those of you who have ever watched Coinbase in the throes of,   major market swings and high volume,   will know exactly what I'm getting at. Over 40%   of Coinbase's   code is already written by artificial intelligence according to Brian Armstrong,   CEO of Coinbase,   who hopes that figure will actually increase   to 50%   by next month.  

Quote, obviously, it needs to be reviewed and understood, and not all areas of the business can use   AI generated code. But but but but we should be using it responsibly   to   like a beer commercial. We should be using it responsibly   as much as we possibly can, Armstrong posted on X on Wednesday.   The percentage   of AI generated lines of code at Coinbase   has more than doubled since April according   to the chart he shared.   Pausing   pausing just to to wonder and marvel   that Brian Armstrong   has produced a chart   of how many lines of code   is written by AI   for the Coinbase   code base. It's   astounding   that somebody is this proud of it. I like AI.  

I it's it's a very useful tool,   but this is just a bit over the top even for me. Anyway, his comments come about a month after Coinbase said one of its biggest focuses is to transform its workforce into AI natives,   signaling it doesn't plan to replace significant share   or a significant share of its 4,200   employees   with AI anytime soon.   The increased integration of AI into the workforce has sparked widespread fears that many roles will be replaced by AI in the future. The New York Post recently cited an Oklahoma   tech expert   who predicted that job losses caused by AI   will cause a global population collapse from 8,000,000,000   to 100,000,000   people by the year 02/2300.  

Hold on.   What   the New York Post I got to read this again this is interesting the New York Post recently cited and   quote Oklahoma   Tech expert   end quote   I'm I'm sorry, but those credentials just don't land well with me, but he did predict   that job losses caused by artificial intelligence   will cause   a global   population collapse from 8,000,000,000 people   to a 100,000,000   people   by the year 2300.   That is an outlandish claim.   I mean, sure, it's just a prediction, but for the love of all that is holy and good,   that's just fear mongering.   There is no reason to expect that people are just gonna stop having babies. You're talking about going against human nature. We are driven by chemistry. We're driven by hormones.  

There are people that have no jobs right now, and they're having babies   because it's human nature to reproduce.   That's like asking, I don't know, in any other animal on the face of the planet. Hey, you know, there's not much food here, so stop having babies there, dear. You ever seen   the only thing that controls a deer population is starvation   and hunting.   Pretty much.   This is ridiculous.   But White House's   AI and crypto czar David Sachs and researchers at big four accounting firm PWC   are among many who have criticized the gloomy predictions arguing that AI job loss   narrative is well overhyped   and that it may instead boost employee productivity.  

That's   pausing to say I I agree with that more than the 8,000,000,000 to a 100,000,000 population collapse. I think it's just ridiculous.   That view appears to align with Coinbase's approach as its engineers   now regularly use AI powered coding tools like Copilot,   Cloud Code, and Encourager to perform their work. Quote, this has enabled profound success stories that weren't possible twelve months ago, like single engineers refactoring, upgrading, and building new code bases in days instead of months.   End quote. Armstrong   recently said   on John Collison's   Cheeky Pint podcast   that he fired engineers who couldn't give a good reason for not integrating AI into their everyday work just a week after posting a mandate in one of Coinbase's Slack channels demanding its engineers   to start using it.  

Slack.   I   anybody   companies that use Slack.  

[00:08:58] David Bennett:

I I got it. I listen.  

[00:09:00] Unknown:

I've got to pause here to say something about this because I've got direct experience of working   with a company that used Slack.   It is one of the most   stressful,   anxiety   driving   pieces of software that's ever been invented by mankind. And it's not like you just replace it with Discord   or or even Telegram or something like that. These communication   channels   used in a professional environment   these kinds of communication example   technologies   they all they all share this problem. They all cause workers anxiety.   Why?  

Because these technologies   are basically text based, and nobody knows how to write anymore.   Nobody knows how to actually say something that they mean   and and and watch their tone   because that shit's important. And for somebody who's like, woah, I can't believe you care about tone. You should.   People should care about tone. People should take very   careful   assessments   of their writing, especially in professional environments. Because if you just haphazardly  

[00:10:12] David Bennett:

say,   like, write a sentence that's curt and short and just   whatever,  

[00:10:21] Unknown:

then the person on the other end of that   doesn't under   literally doesn't understand the context,   the tone,   can't see your body language, can't see your eyes, can't see anything about you, and it's hitchcocky.   And and I don't mean this in in a in a way that means scary. I'm just saying that   without   being able to witness the person telling you the thing that they need to tell you, your mind will fill in all manner   of either horror   or   pleasantries,   and either one of those may not actually exist.   So it   it programs the person receiving all of these messaging. And if you've ever been in a Slack channel in a professional environment, you know how many messages you can get from 12 different freaking people. It's almost like everybody is everybody else's boss.   This is this kind of crap is is terrible. So I can only imagine what these engineers were thinking   when   what's his well, what's his name?  

Why am I forgetting this guy's name?   Brian Armstrong. Thank you. When he drops this thing into the Slack channel that all the engineers have to figure out a way to use AI.   I mean, okay.   I don't I don't know, man.   Maybe I'm just overreacting, but this is   this just sounds like it's a bad idea.   The it not using AI, but the way that he's going about   mandating the use of AI,   making people justify their non usage of a technology   is is honestly, that just feels threatening.   I don't think this is gonna be good internally for Coinbase, but let me get off my soapbox and finish by saying while   large scale layoffs have eased across the crypto market, industry recruiters have observed a significant tightening in crypto hiring since 2022,   largely   attributing it to AI diverting talent and capital away from the sector.  

Developers and entrepreneurs   follow the money   and the excitement. And right now, AI is soaking up both Crypto Jobs List founder Raman Shlopo   Shlopo?   Yeah. And researcher   Steffi Klimani told Cointelegraph   last month,   yeah, everybody wants the shiny and the new, and it's always a distraction. It's always been a distraction. It's always going to be a distraction.   That's okay.   Bottom line, I don't think this is I don't   think this is the way   that I don't think this is gonna work the way that that Brian Armstrong   thinks it's going to work or or wants it to work. I think he's got an idea in his mind,   but I think it's gonna get worse, their code base, before it gets better. So I do not expect   Coinbase,   their back end, to not crash   on high volume days. I I just I I see it season up again like like an epileptic patient.  

Okay. So Trump linked American Bitcoin source 60%   and targets $2,100,000,000   share sale   after its Nasdaq debut. So American   Bitcoin   got listed on the Nasdaq. Helene Braun   from CoinDesk tells us all about it.   American Bitcoin, a newly public Bitcoin mining and treasury firm backed by Donald j Trump Jr. And Eric Trump, opened for trade Wednesday morning after completing its merger with Griffin   Digital Mining.   Wasting little time,   the company filed for an at the market equity raise of up to $2,100,000,000   with which to continue building its bitcoin holdings   which footed to footed   Okay. I'll I'll just read it as written, which footed to 2,443   coins at the time of the merger.  

Shares have rocketed 60%   to $11   versus the $6.90   price at the time of the merger Tuesday evening   in its well, it's the latest chapter in American Bitcoin's rapid formation, which began in March through a combination of the Trump brothers, American data centers, and Canadian   mining firm, Hut eight.   Hut eight now holds an 80% ownership stake   in the newly listed entity.   American Bitcoin's business combines Bitcoin mining with a corporate treasury   strategy approach   centered on accumulating the asset. And since its inception earlier this year, the company has amassed 2,443   Bitcoin   worth approximately $160,000,000   at current prices.  

This   hybrid model, mining Bitcoin while holding it as a balance sheet asset, mirrors strategies used by other high profile mining firms such as Marathon Digital.  

[00:15:26] David Bennett:

There that's the end of the article. A  

[00:15:29] Unknown:

thought occurred to me.   We've had centralized mining, you know, big mining firms. I don't wanna say centralized mining.   It can become centralized. And in many cases, the the argument is that it already is, but this is not that's not what I mean. I'm talking about, like, great big companies like Marathon, Hut eight.   It pick any one of the number of of mining firms that have gone down to Texas.   They all mine Bitcoin. And and before this treasury strategy, I want you to think back before Michael Saylor   hit on the scene, we had large mining facilities and they were mining lots of Bitcoin.  

And the news on the street at that time was always, are they holding the Bitcoin and figuring out a way to pay their bills without selling any of it? Or if they are selling it, are they selling just enough to cover their cost? Or are they selling a whole bunch of it because it signals a bear market?   All of these signals.   That's that's what we lived with. But now because of Michael Sailor, the the the strategy has changed for sorry for the pun.   What I mean by that now   is that this looks like the model I mean, just just the Trump brothers, but, hey. You know, between   Griffin and Hut eight and and American Bitcoin and the Trump brothers,   they may be hitting on something.  

If   they use the Bitcoin mining model   and then hybridize that with strategies   equity raising not not just the holding of the bitcoin because that's not all that strategy does   they're borrowing against the perceived   value   of the Bitcoin that they hold   to get the public   to buy preferred stocks.   They've got four of them right now.   And they also sell their common stock. They they said they, you know, a few months back, they said they weren't gonna do that at anything lower than a 2.5   m Nav,   but that's compressed.   And Michael Saylor, like last week, said, you know what? We're we're gonna we're gonna relax that. And then and then they printed more shares of common stock. In either event,   this is an interesting thing because   strategy doesn't mine any Bitcoin,   so they're not able to have that input into their balance sheet.  

This this is going to be a model to watch.   In in all reality, these the Trump brothers may have they   they may be hitting on the next evolution   of the strategy   Bitcoin acquisition strategy.   And I think what they'll do is they'll mine Bitcoin, they'll hold Bitcoin, they'll use that on their asset sheet, then they'll start making preferred stock and selling those debt instruments to the public who will buy it, they will get the money, and then they will buy more Bitcoin and boom. So now you've got you've got two ways to increase the very stack   that people are looking at   to be able to   credibly issue more debt instrumentation   and get more money from the public.  

Where would you put all this money?   Well,   US Bank resumes   Bitcoin custody services for institutional investors,   adding support for   Bitcoin ETFs   written by Nick out of Bitcoin magazine.   US Bank,   that's the name of the bank. It's not ace it's not some kind of amorphous o some US bank. No. The the the bank that is named   US Bank announced today   that it has officially   resumed its cryptocurrency custody services for institutional investment managers,   reopening a program that was first introduced in 2021.   The service, which is being relaunched,   relaunched,   I reiterate,   as an early access program for global fund service clients,   is designed to provide secure safekeeping solutions for Bitcoin with NYDIG serving as the sub custodian.  

The decision comes after years of regulatory uncertainty with US Bank citing a clear framework for digital assets as a key factor in relaunching the program. In addition,   it provides custody for Bitcoin directly.   The bank has expanded its offering to include custody services   for bitcoin exchange traded funds or ETFs.   Stephen Phillipson,   vice chair of the US Bank Wealth Corporate Commercial and Institutional Banking,   highlighted   the bank's pioneering role in digital finance quote where here comes the suit speak. We're proud that we were one of the first banks to offer cryptocurrency   custody   for fund and institutional custody clients back in 2021,   and we're excited   to resume the service this year.  

Following greater regulatory clarity, we've expanded our offerings to include   Bitcoin ETFs, which allow us to provide   full service solutions   for managers seeking custody and administrative services. It wasn't suit speak. That's actually got real information in it.   They're not talking about increasing shareholder value and and and be like, allowing access to all stakeholders.   This good I I I applaud   mister Phillips in there. NYDIG,   a vertically integrated Bitcoin financial services and power infrastructure firm, will act as the primary Bitcoin sub custodian for the program.   Tejas   Shah, CEO of NYDIG said that the partnership underscores the convergence   of traditional finance with the digital asset economy.  

NYDIG is honored to partner with US Bank as its primary provider for Bitcoin custody services.   Together, we can bridge the gap between traditional finance and the modern economy   by facilitating   access for global fund service clients   to Bitcoin as sound money delivered with the safety and security expected by regulated financial institutions.   Okay. It's a little bit of a bow tie of of suit speak. But the relaunch reflects   US Bank's ongoing strategy to expand its digital capabilities for institutional clients.   Dominic Ventura,   senior executive vice president and chief digital officer, said   that the initiative   positions the bank   at the forefront of innovation. Quote, US Bank has been at the forefront   of exploring how digital assets can serve our clients.  

Further expanding our capabilities   unlocks new opportunities to deliver innovative solutions   to those that we serve.   US Bank will continue to drive progress   and shape the future   of what matters for our clients in digital finance.   That's full suit speak right there.   Why do I say that? Expanding our capabilities,   unlocking new opportunities,   deliver innovative solutions,   continue to drive progress,   shape the future of what matters,   none of that is specific.   That's   that's what I mean. That's   getting back to being clear   using language, using whatever language you're using. In in our case, we're talking we're speaking English.  

Being able to be very clear   about what's going on   has been lost.   It's been lost.   You wanna know one of the ways that I know   that it's gonna get worse and worse and worse is not because that I know AI exist.   My wife teaches college,   technical communication, and rhetoric.   The kids that are coming into school,   into college,   full blown adults,   can barely write a paragraph.   She has   at this point,   she's doing remediation.   That's how bad it is, and it's just gonna get worse.   It's really sad, but it's worse.   Now,   Circle P is open for business, and it's where I bring plebs with goods and services just like you   to plebs   well, so that want to buy goods goods and services from these guys that actually make yeah, I'm not I'm not I'm not sponsored by Ledger.  

I don't have an Iron sponsorship,   but I like the guys that actually build stuff with their own hands,   and I like helping them get the word out about their products. And today, it's Oshi at oshigood.us.   Oshi good makes all banner stuff. He makes mint cookie huddle bars. He makes banana chocolate chip huddle bars. He makes this stuff called huddle butter. Now, right now,   oshi, because his his items   are so tasty   and so well made   that he's out of stock of everything   that he has.   Why would he be out of stock all the time? Well,   think of think of huddle butter. What are its ingredients?  

Pecans,   maple syrup,   sea salt flakes, cinnamon, and black pepper.   It's like peanut butter, except it's actually good.   And   if you look at that, that's the ingredient list. You know what you didn't see?   High   polycholesterolized   sorbate   or whatever. You didn't see you didn't see, oh,   something I can't pronounce used as a preservative.   That's why you'll have to refrigerate this stuff. It's it's not shelf stable. You'll definitely want to refrigerate   it. But   I've had the hollow bars and they're just freaking awesome. And they're made with this hollow butter. So go over to oshigood.us.   That's oshigood.us.  

At any given time, he's gonna be making more of this stuff. I want to keep Oshii sold out. That is that is one of my missions with the circle p is to make sure that all the people that are represented in the circle p sell out of everything they make every single day. If I can help do that,   well,   let's just say maybe karma will smile upon me.   Go to oshigood.us.   Make sure that you tell him bitcoin and sent you by using the code bitcoin and   that way the way the circle p works   value for value advertising.   Oshii will be able to understand that I made a sale for him if you buy anything from him and he will be able to say, you know what? That was worth this many satoshis.  

I'm going to cut this many satoshis to David because he helped me make a sale. That's the way it works.   Oshigood.us.   That's oshigood.us.   Go check out all his stuff. Now Bitcoin price is flat,   but the hash rate, well, it it just hit a record high. Matt DeSalvo,   decrypt.co.   Bitcoin's single day hash rate on Tuesday hit a new high of 1.279   Zeta Hash.   And I remember remember on Tuesday, that was the first show of this week because I took took Monday off for Labor Day.   I said that we had hit a a Zeta Hash, but I didn't know that we went to one and one quarter   Zeta Hash per second according to mining data platform Coinwares,   even as the price of the asset remained roughly flat over the past twenty four hours.  

The hash rate also reached a moving average high for seven days,   surpassing   one zeta hash then for that period.   The increase comes despite miners' ongoing struggles with rising energy cost and lower rewards   after last year's having the payoff for miners   split in half to 3.125   Bitcoin   down from 6.25   previously.   Miners typically rely on the price of Bitcoin to go up to cover costs,   but continued volatility for the asset has spurred some large miners to branch into high powered compute.   Hash rate is the measurement of all the computing power on the leading cryptocurrency's network.   And the computations,   or hashing, is the process of turning data into a fixed length string of characters.  

It's needed to do things on the Bitcoin network, like creating private keys   so users can make transactions. That's not true.   It's ECDSA   is is how we make the private keys.   It that's not it's not SHA two fifty six. So   that that's okay. I'm not I'm not gonna worry about that. One zeta hash per second   means that the computers   securing the Bitcoin network are doing one sextillion   hashes every second. That's an absurdly large numbers. In fact, it's like what, six, twelve,   god.  

[00:28:30] David Bennett:

Six,   twelve,   Good   lord.   18, nineteen, twenty, 21 zeros.   One with 21 zeros behind it. That's that's a sex that's a sextillion.  

[00:28:43] Unknown:

That's that's a lot of numbers, man. Bitcoin,   other than being a digital coin as a payment network, yeah, yeah, yeah. We know all this. We know all this. Let's say a hash rate is important.   Yeah. That's that's all we honestly, that's all we really need to know is the fact that we're we're chilling out   with Bitcoin being flat,   but the miner is just   stacking miners up.   So it it does make me wonder if this is   the if the following is the situation.   A lot of minors from China were held up at United States ports for a long, long, long time   due to various issues.  

Right? And and this is while Trump had had, took the presidency. It was almost immediately after Trump took presidency that somehow   customs decided to hold up on on all manner of minors coming over from from China.   They eventually got released,   and that and that was, like, a few weeks ago. Actually, like, maybe even a couple of months ago, But I still it still makes me wonder if it's just now   that all of those miners that were held up at all these USC ports, I wonder if it's just now that they're they've been shoved into Iraq and given power and placed on the network,   even   though if they had been buying those miners today   at these prices, they would have said, maybe we should hold off on this purchase. But in this case, they've already bought them. They had to wait months to get them, and now it looks like I I think that this is what's going on. I think that the miners that have been sitting at port have finally basically been installed,   given power, given a network access, connected to a node, and boom, we're off to the races.  

I don't think that this is is   something that we should say. That means Bitcoin's price is going to rise.   No.   It doesn't. Let's run the other numbers.   CNBC   Futures and Commodities, West Texas Intermediate down point 8%   to 63.46   a barrel. Brent Norseed down the same to 67.02.   Natural gas in the green by 1.6%   to $3.11   per thousand cubic feet. Gasoline up a half   to $2.02   a gallon.   And everybody's favorite crude oil, Merban crude, is down 1.1%,   sub $70   now to 69   and 35.   Wow. Gold taking it on the chin, down point 61%   today.  

But, guys, it still hit a way   all time high.   Right now, it's chilling out at $36.13   and 7 dimes, and that's after losing $21   and   $8.80   cents   today.   Okay.  

[00:31:39] David Bennett:

Okay, guys.  

[00:31:40] Unknown:

I gotta give it up to Peter Schiff. Peter,   congratulations,   man.   Take it easy, pal.   Silver is down 1.3%.   Platinum is down almost full five full points. Platinum not doing well today.   Copper is down 1.12%.   Palladium is down 3.38%.   In ag, it is mostly red. The only one that's   the biggest winner today is   Lumber at 2.29%   to the upside. The biggest loser   is,   my favorite, Chocolate, three and a half percent to the downside.   Live cattle down a half. Lean hogs up a third.   Feeder cattle are down a quarter.   Meanwhile, the Dow is up a half. The S and P is up almost a half. The Nasdaq is up one third, and the S and P Mini is up point 82%.   Meanwhile, we're chilling out at a $109,640   a coin.  

That is 2,180,000,000,000   in market cap, and we can only get thirty   thirty point eight ounces of shiny metal rocks with your one Bitcoin, of which there are 19,915,957.43   of an average fees per block are relatively high. At 0.04   BTC taken in fees on a per block basis,   there looks to be about 35 blocks carrying 93,000   unconfirmed transactions waiting to clear at high priority rates   of four sats per v byte. Low priorities get you in at three.   And today's hash rate is now below one zeta hash. We're looking at 985   exahashes   per second.  

Do with that what you will. And from   the last couple of episodes of Bitcoin and I got Psyduck   seven fifty three. Sat says   Psyduck.   Wow. And progressively worse with, oh, a row of fives. 5,555.   Sat says great information as always and this is from, these are both from Cathedral   five which was yesterday's episode of Bitcoin Ann.   Here's a little dono from my absence.   I've been working   I've been working on building a digital garden   As of late, thanks to your suggestion many shows ago. I'm digging it. Here's the link if you want to take a peek. And then he gives me the link.   It says: Let me know what you think. As always, thank you and grow on. Alright. Well, let's see what this link says.  



[00:34:12] David Bennett:

Okay. It's  

[00:34:15] Unknown:

it's vercel.   It's at it's it's,   prestigedigitalgarden.vercel.app,   And it's got some pretty pictures on here and it says, welcome to my digital   garden. Soil health. Alright.   Soil health, microbes, microscopy, and everything in between can be found here.   Slowly, this place will grow as I input information.   Feel free to look around. Thanks for visiting.   Let's see. We've got biology and plants. Oh, wait. Yeah. It's got goals and biology and plants and tech and projects.   This looks very nice.   This I'm   this is interesting because I had mentioned   a few shows ago something about a digital garden.  

And it's basically where instead of looking at stuff that you write as, okay, it's written, I'm never gonna touch it again. Digital garden is more like   you write things, but you continue to work on them, and you let them grow much like a garden does. And I cannot believe it, but   but he took he took he took my advice.   This is amazing.   Let's see. Biology and plants. Let's see what he's got under   here. A plant biostimulate   is any substance or microorganism   applied to a plant with the aim to enhance nutrition efficiency, abiotic stress tolerance, and or crop quality traits.   I'm   I'm impressed.  

I'm going to add this I hold on. I gotta I gotta add this,   what am I trying to say? This URL   to the show notes.   Otherwise, I   would be remiss   to not have this guy present   in the show.   Dude,   I'm I'm impressed. This is great. I thank you so much progressively worse for not only your SATs, but,   working on a digital garden. Moving on to wartime, 133   SAT says, whoop de doo today.   Turkey with 500   says nothing as usual. Geek Toshi   says if this boost goes through,   thank you, sir. It did go through Geek Toshi.  

[00:36:21] David Bennett:

Somehow or another, Primal  

[00:36:23] Unknown:

I don't know if it was Primal. I just remember I was on Primal. I started getting like for, like, two days, I got people saying, dude, zaps are failing. I can't zap you. And other people were saying boost were failing. They couldn't boost me. I'm like, what the hell? So I go check out my my,   address, my lightning address, and it had changed   from [email protected]   to [email protected].   I don't remember I don't remember changing it.   So I think there was a bug or something got reset.   So anyway, Geek Toshi had been trying to zap me, and and when I went and looked,   sure enough, it was I mean, it the the address   should have worked,   but it was not working. So I've gone back to my old address, and everything seems to be fine now. With that said, that is the weather report.  

Welcome to part two of the news that you can use.   Satlantis   is the discovery app I've been looking for my whole life.   Jordy   Esteev   writing for Bitcoin   Magazine.   My name is Jordy   Estevi.   I cannot I'm so sorry that I'm butchering your name. I know I am. If you're listening,   it's it's not I'm not trying to be offensive. I literally don't know how to pronounce this. And my life has been defined by one thing,   movement.   Long before finding Bitcoin, I worked as an airline pilot. I would wake up in a new country almost every morning.   I carry many invaluable experiences   with me from that time as I learned how to navigate layovers, find local shortcuts, and spot the best places to go and do things at.  

And also what to avoid. But throughout all these adventures, there was always the one thing that was missing.   I was lacking community, and that was always a struggle.   Eventually,   I changed directions and swapped cockpits for startups.   My biggest venture, Sharing Academy,   Europe's first peer to peer tutoring marketplace,   was what I call a successful failure.   We won best app of the world at Mobile World Congress and received invitations to work for private and government led initiatives in Spain,   Switzerland, South Korea, Portugal, and France. And I still recall   celebrating that win   and then hitting the hard crash of running out of steam.  

The company did not survive, but the lessons I gained did.   After that time, defeated, I needed to recover. My former partner, Simon Lee and Andreas Monso invited me to join their new venture   Peninsula   Corporate Innovation.   I helped large corporations stay relevant through open innovation.   A bridge between fresh startups and established giants   sitting in boardrooms   dominated by the rat race   and fiat mindset made me yearn for the free skies.   The contrast   couldn't have been starker.   This was a time of learning and adaptation and also one of curiosity as I let myself fall down the sovereignty rabbit hole thanks to, of course, Bitcoin.   And over those 10,   five running Sharing Academy and five at Peninsula,   I traveled constantly,   always on the move, meeting clients, and forging in real life connections.  

I was no longer a pilot, but my lifestyle   hadn't changed much.   What took me a long time to realize is that there is a term that describes this lifestyle,   digital nomad.   And that there are nearly 50,000,000   of us navigating the world this way, balancing work, travel, and community.   Between Bitcoin and the travel world, I found a home.   Then   in 2024,   I ran into Alexander Spetzky.   Yeah. He's a he's a cool he's a cool cat. Bitcoin entrepreneur and author of the Uncommunist   Manifesto and the Bushido of Bitcoin and founder of the Bitcoin Times. When he told me what he was working on, I couldn't believe it. A new kind of app for travelers and Bitcoiners?   Talk talk about perfect timing.  

I see Satlantis as the ultimate app for travel, one that brings together the tools that every nomad already uses like Google Maps for places, Instagram for people,   even   sorry. Eventbrite   for events, but with a twist.   Satlantis uses Nostr to tie people, places, and events together like never before. For those of you living under a rock, Nostr is a decentralized,   censorship resistant social protocol   that enables permissionless digital identities and portable social graphs.   It is the ultimate social protocol and even has the benefit of integrating lightning payments natively.   As Derek Ross says, quote, the purple pill helps the orange pill go down.  

Nostra is the social glue that makes Bitcoin's freedom feel natural.   Needless to say, I reached out, joined the mission, and have spent the past year helping to bring Satlantis to life.   It may be early days still, but for me, Satlantis   checks every box. It's the app I wish had existed when I was a pilot or an entrepreneur,   and it's the app that today has upgraded my traveling lifestyle. So if you're into   sovereign   individualism,   free private cities, frequent traveling, localism and communities, remote work, Bitcoin, Nostrand, Bitcoin communities,   flag theory and geo arbitrage, nomadism,   network states?  

Well, Satlantis   is for you.   So what makes it unique?   Nostril login.   You own your identity   and you own your social graph.   All your connections, likes, shares, clicks, and comments,   they stay with you, whether you're on St. Lantis   or moved to a different Nostra app.   Good luck trying to retain your x or Instagram audience across platforms. Plus, you can just sign up with an email like a normie and we'll give you Nostra keys without you even noticing.   Cheekiest   onboard ever.   A whole new ecosystem   unlocked.   Then there's events on Nostr.   See what's going on wherever you're off to. The best Bitcoin and Nostr events are running on Satlantis and they're more social than ever. Run meetups, workshops, or conferences,   see who's attending, follow them, message them directly, and stay connected across the Nostra ecosystem.  

Find your tribe in real life and keep in touch online.   It's discovery   on your terms, and this is the big one.   I'll never forget wrestling with cacao maps   in Korea just to find health conscious food rather than chain joints of junk food. With Satlantis,   you discover what matters to you. Signal over noise. Discover cafes, gyms, farmer markets, or events that align with your values and lifestyles.   Not whatever Google's algorithm wants to feed you. Literally.   Based entirely   upon your interests that you select and the recommendations of the people that you care about. And then there's collections.   This is a nice touch.  

Collections are a bit like Pinterest boards or Spotify playlists, but for places.   Favorite cafes, hidden viewpoints,   seed oil free restaurants, you name it. Craft beautiful lists to showcase your taste and become a trusted pathfinder   by posting great guides.   Share them or keep them to yourself in your community. And, yes, you'll soon be able to zap collections as well   as everything else in Satlantis.   Satlantis   is the kind of tool that makes me see travel and discovery planning not as stressful chores, but as a fun game, and we're still   so early.  

So what's next?   Where am I headed next? Life will tell, but wherever that is, I know Satlantis   will be how I find my community there before I even land.   It's also how I'll make the most of the trip and how I'll stay connected with new friends once I embark on a new journey.   It's a great feeling to work for a start up where you are the target audience.   I've been traveling for half my life, and I show no signs of stopping unless someone special gives me a reason to settle.   Let's connect on Satlantis   at satlantis.i0/j0rdi.jordi.   Satlantis.i0/jordi.  

If you haven't seen Satlantis,   it's been out for   Alexander   released the beta or the even the alpha, like, I wanna say,   well over a year ago.   And it's it's really nice.   Do I do I use it? Well, no. And here's the reason why.   I wasn't able to figure out how to post anything to it, and I think that was on purpose. I think that they had locked it down where they were only really presenting,   what am I trying to say, only really presenting   how it was going to act, how it was going to look, how it was going to be laid out, what the user experience would be like without us, you know, all the nostril people just, you know, being able to throw up whatever we want. So I'm going to go back to Satlantis   right now   and see what the different if there is a different   style for what's going on.  

And let's see. Can I  

[00:45:56] David Bennett:

okay? I can now create a post.   Excellent.  

[00:46:01] Unknown:

I oh, let's see. All destinations. What if what if let's see.   Dubai,   Prague,   United States,   Auckland,   Austin.   Okay. Well, hold on. I wanna do something.   Can I put in a new one?   No desk okay. I put in the name of the city, and no destinations were found. So as far as I can tell, I am still unable   to actually   forge my own destination. I can't start   I can't start a destination   for, let's say,   Colfax,   Washington.   It's not since it's not in here, I I I I can't actually do anything.   So until at such time that we're able to actually put in our own destinations,   I probably won't be able to use this unless   where I wanna go just happens to be on this list.  

But without the nostrils   being able to contribute   to satlantis.io,   and that's how you get to it, it's satlantis.io,   I'm not sure   how much more utility   this thing could have. And I don't I don't mean to degrade or   disparage, you know, Svetzke's work. I think this is brilliant.   But I need to be able to put in my own community.   I need to be able to to craft, like, this is where I would go if I was in this town.   You know, like but if the town's not there already on St. Lantis, I apparently,   I can't put one in.   So   Fetzky, if somebody out there knows Fetzky,   how do we build new destinations?  

Because without that, your hamstring in satlantis, and I really want this to to be a to be a a thing. I really do.   That way, maybe I'd be able to plan my, you know, my trip to the EU   because I wanna go visit   the   European Central Bank president who's calling to address risks from a non EU set of stablecoins.   She's scared.   Lagarde is scared, and Turner Wright is telling us about it. From Cointelegraph,   Christine Lagarde, president of the European Central Bank, is calling for policymakers to address gaps   in stablecoin regulation,   particularly   those   that have been issued beyond the, quote, robust markets in crypto   assets framework   of the European Union.  

In prepared remarks for the ninth annual conference of the European Systemic Risk Board on Wednesday,   Lagarde said EU lawmakers   should take steps in situations   where an entity   covered under Mica   and a non EU entity jointly issue stablecoins.   She added that such stablecoin issuers should not be allowed to operate inside the European Union unless there were robust equivalence regimes   at the source,   which includes allowing EU investors to, quote, always redeem their holdings at par value   and requiring issues to issuers to fully back their coins.   Quote, in the event of a run,   like a bank run, investors would naturally prefer to redeem in the jurisdiction with the strongest safeguards, which is likely to be the EU.  

Yes. Yes. The EU, where where if you try to draw out, like, more than, like, $200   and you do it more than once in a week, you get put on a list.   You get put on a watch list   to take your own money out.   Not safeguard, that's   surveillance, but whatever.   Where my car also   prohibits redemption   fees, continued Lagarde,   but the reserves   held in the EU may not be sufficient to meet such concentrated demand.   Oh, there it is. There's the rub.  

[00:50:02] David Bennett:

Okay. Let's let's think about this.   She wants  

[00:50:08] Unknown:

specifically, she's talking about US issued stablecoins.   She's afraid   that if a whole bunch of people in Europe in the European Union have a whole bunch of US issued stablecoins   and they're able to redeem those   for   euros,   there may not be sufficient   euros in the EU   to meet that demand.   I've I've I've I'm going to to   I'm I'm I'm gonna admit   that I may be overstepping   what she's actually saying a little bit,   but   honestly,   I I think that that's what she's getting at. She she does not want   I mean, it's like she wants an EU stablecoin for herself and and have the EU only use that stablecoin and then be able to redeem against the actual euro.   I would too. If I was in her position, if I had her history, that's exactly what I would want. But she sees the writing on the wall. She knows Tether is coming,   and there's nothing she can do about it. They can make it illegal. They can, like, say you're you don't have jurisdiction   EU.  

And there's going to be a market for tether versus euro.   And if there is a bank run and there's a whole bunch of people in the EU that hold tether and they start redeeming   it for your for euros   and they're able to get a hold of those euros,   the bank run she's concerned about is the European Central Bank bank run.   I don't know, man. This I'd if I were her, I'd   I'd be scared too.   Because a stablecoin is a cryptocurrency designed to maintain a stable value by pegging it to an asset like the US dollar or, of course, the euro.   ECB policymakers have explored the potential rollout of a digital euro for years, but could be pressured by stablecoin laws and regulations pushed by the Trump administration   in The US.  

The US Congress passed a law in July   establishing a framework for stablecoins,   likely benefiting   issuers of United States   dollar peg coins.   Quote, the US government's policies   could potentially result not just in further losses of fees and data,   but also in euro deposits being moved to The United States   and in a further strengthening of the role of the dollar in cross border payments,   said ECB executive board member, Piero Cipollione,   in April.   Oh, but they they are terrified.   This European Central Bank sees they understand what's about to happen to them.   This is way too little, way too late. You guys are toast.  

With The US law set for implementation and EU policy makers weighing their approach to stable coins, China   may also be exploring the launch of a one back coin.   Reports from August suggested that the Chinese government was considering a stable coin peg to its renminbi currency,   following the slow rollout of the digital yuan. Yeah. So   that's about China. We don't need to end with that one. I just I it   it is amazing   listening to this language   come out   of the European Central Bank Chiefs.   Lagarde being the the   the the Bucks well, the Euro stops with her. But this other dude,   they they are really terrified.  

They're they're looking square in the face of   unavoidable   capital flight of the euro, and the euro ain't exactly on the best stability   platform as it is.   It's been having some real issues lately.   So   I don't know, man.   It the e   European Union could break apart for one of two reasons. One, just   regionals   regional political divides.   You just I mean, you you you're trying to band all of Europe together, and we see The UK already left   the the Eurozone.   I mean, the European Union. You got   you got, like, you know, over the years, we've had   reports of people like Italy saying, I don't know. We're thinking about leaving.  

The cracks are forming.   So there's already political division,   but   could it be the complete   wreckage   of the Euro   that dissolves the EU for good?   It's gonna be an interesting interesting decade, I guarantee it. Let's go down south to where it's sunny, warm, and the beaches are sandy, and the pina coladas are flowing   to Bitcoin historico.   The El Salvador   government   is going to host a Bitcoin conference.   The South the El Salvador government   is hosting   Bitcoin historico. This is, by the way, Alex Larry, Bitcoin News is writing this one.   This November,   El Salvador will make history yet again in the world of Bitcoin.  

The Central American country, which became the first country to adopt legal tender in 2021   is now preparing   to host Bitcoin Historico,   the world's   very first   government sponsored Bitcoin conference.   Say it again, the world's   first   government sponsored   Bitcoin conference.   The event   will take place November   2025   in the heart of San Salvador's   Centro   Historico.   And we'll see what the tweets the tweet from a Bitcoin office in, San or in El Salvador says, this isn't just a conference. This is a testament to an extraordinary moment in history pausing to say that that was written by AI.   How do you know?  

Every time you see this combination,   this this syntax, this this sentence structure,   it's not X, it's Y   that's AI.   So just keep that in your back pocket so that you can whip that out at any given time.   We are proud to announce Bitcoin Historico, a global summit on Bitcoin transformation and relentless optimism for the future. We believe Bitcoin is more than just an asset. It's a tool for individual freedom,   cultural   rebirth, and monetary sovereignty.   Join the pioneers building the new era from the ground up in the very country that showed the world how it's done.   That's the tweet. Unlike most conferences held in large convention centers,   Bitcoin historico will transform the entire historic district   of San Salvador into a citywide festival of finance.  



[00:56:56] David Bennett:

It's a festival of finance. Yay.  

[00:56:59] Unknown:

Culture and technology.   Okay. So it's a festival of finance, culture and technology, but, dude, festival of finance,   that is an amazing phrase.   The main stage   will be in the National Palace, and speeches will be broadcast live on giant LED screens at Plaza Gerardo Barrios.   Additional sessions will be held at the National Library   and the National Theater   creating an immersive experience that connects finance culture and natural or national identity.   Organizers   say this won't be a just another Bitcoin conference.   No kidding. It sounds like it's gonna be awesome.  

Instead, they are framing it as a turning point in the story of Bitcoin and its role in shaping nations. Quote, this isn't just a conference. It's a testament   to an extraordinary moment in history, said the National Bitcoin Office.   The lineup of speakers   is announced   with some of the biggest names in bitcoin and finance attending.   Confirmed   speakers include Mexican billionaire   Ricardo Salinas,   author Jeff   Booth, lightning network developer Jack Mallers,   Max Keiser, and of course Stacy Herbert, other industry figures such as Pierre Peri   sorry, Pierre   Rochard,   Jimmy Song, Darren Feinstein, and Lena Seche   will also be at the program.  

The   talks and panels will go beyond technical discussions. Topics will include Bitcoin's role in financial freedom, cultural rebirth birth, infrastructure,   energy use, and financial inclusion. And for many, it will be an opportunity to see how Bitcoin can impact not just economies, but politics and culture.   Tickets are already on sale. General admission is $350.   Oh, man. And the exclusive   Genesis   crown pass   cost $2,100.   It's a little pricey, guys. VIP access   includes reserved seating in the National Palace,   private networking with keynote speakers,   and exclusive merchandise.  

Losing losing it a little bit. Early bird tickets are available in Bitcoin only. Fiat payment options will become come available later this fall, and I can guarantee you the prices will increase at that point, so be aware. The conference comes at a time of big change in El Salvador.   A constitutional   reform recently extended presidential terms from five to six years and allowed for indefinite reelection.   I'm president   for life.   This paved the way for president Nayib Bukele, one of Bitcoin's biggest global advocates, to get reelected.   Supporters see this as a guarantee   of policy continuity, so Bekele's Bitcoin vision will remain at the forefront.  

Critics warn of the risks of concentration of power. Yeah. We should listen to those critics.   The government of El Salvador has already accumulated 6,200   BTC.   In March, they announced a change of strategy to enhance security   and blah blah blah blah. So they they they have finished off talking about the this event thing.   I'm gonna okay. This   it on one hand, this sounds amazing.   It's not just in a single convention center. There's stuff at their national library,   the National Palace,   out in the streets,   it the whole historic district.   Honestly,   I would love to go to this.  

Now,   everything's got a yin and a yang to it.   Private networking.   You you gotta pay to play to network with the keynote speakers, which are the same speakers that are on that are at every single Bitcoin conference.   And nothing against them. I love Jimmy Song.   You know how many times I've heard Jimmy Song talk? A lot.   I want I want somebody else.   Me.   No. Just kidding. Do but I do want somebody else. Jack Maller speaks everywhere.   He is not going to say anything different than he's he hasn't already said. And, again, I love Jack. I think he's great.   I really do.  

Do we really not have anybody else?   Is there really nobody else? People that we haven't heard from   to go to go to this thing.   And this whole private networking issue bugs the shit out of me. Exclusive merchandise?   What the hell is that?   It's   this is starting to mimic   regular old   industry conferences, and I think that that's what I'm getting at. It's starting to lose the edge.   It it really is. Now, the fact that this is gonna be placed, the venue where it's gonna be placed is actually multiple venues. The fact that it's a government putting it on, that's exciting.   But   the rest of it, it just it actually sounds like a regular old conference and I'm I'm kind of well, I'm, you know, a bit concerned as to as to how much life Bitcoin conferences have left in them before it just becomes   the same crap.  

I don't know. Maybe India, one of these days, will host their own Bitcoin conference because   they're leading   global   crypto   adoption,   APAC,   emerges as the fastest growing market according to Chainalysis.   Timmy Shen   finishes   us off   from the block.   India and The US are leading crypto adoption globally with Asia Pacific   solidifying its role as the global hub of grassroots crypto activity according to blockchain analytics firm chain analysis.   India topped the global rankings for the second year in a row notably surpassing other countries in every criteria including   value received by retail,   centralized service,   institutional   service,   and decentralized   finance according to Chainalysis.  

Meanwhile, The US climbed   into the second highest position. So India's beaten our beaten the pants off of us. We moved into the highest, second highest position from ranking fourth   last year.   So we moved up two spots. The country's crypto adoption was boosted by regulatory momentum and institutional   participation   according to the report.   Pakistan,   Vietnam,   Brazil, and Nigeria   followed   in overall adoption rankings in 2025,   and Chainalysis   noted that the ranking reflects crypto's increasing role in remittance,   dollar access to stablecoins, and mobile first financial services across emerging economies.  

Specifically, the Asia Pacific,   APAC, APAC,   was the fastest growing market for crypto activity in the twelve months leading up to June 2025 where the region posted a 69%   year over year increase in on chain transaction volume.   Total crypto transaction volume in the region jumped to 2,360,000,000,000.00   with a t trillion dollars. That's up from 1.4,   driven largely by strong participation   in India, Vietnam, Pakistan according to the report.   In terms of absolute   volume   of transactions,   North America   and Europe continued to lead with more than 2,200,000,000,000.0   and $2,600,000,000,000   respectively.  



[01:04:26] David Bennett:

Oh, wow.   See that  

[01:04:29] Unknown:

crypto the and they're taught yes. I know. I'm we're talking about crypto, so that includes Bitcoin and all the rest of the garbage.   But you're talking about   North America, which is Mexico,   United States, and Canada.   So three countries in North America, dollars 2,200,000,000,000.0.   In Europe,  

[01:04:49] David Bennett:

dollars 2,600,000,000,000.0.   Now, remember back to Lagarde   wetting her diapers   and being terrified.  

[01:05:01] Unknown:

She should be.   She should be.   Chainalysis   said that North America's 49%   growth was fueled by the launch of spot Bitcoin ETFs and clearer regulations, while Europe's 42%   gain   underscored steady expansion from the already high base.   And that is the end of the report. That's the end of the chain analysis report. So India in the number one spot for crypto adoption, I find that odd considering how many times   India has flip flopped   on, oh, it's illegal. No. It's not. And then the central bank said or or the the government said, no. You know what? We're gonna make it legal again. But then the Central Bank of India came back and said, you can't do that, and here's the reasons why. And then they it just it was   honestly, it was kind of embarrassing watching a country the size of India   watching their government just not be able to make up their damn mind. But   it looks   like the people of India do not care   because India adoption is number one. United States adoption number two.  

North America, $2,200,000,000,000   in value exchange with crypto.   Europe's 2,600,000,000,000.0.   Amazing.   No.   I would have never thought that we would have been here this fast, and yet here we are still groaning and moaning about Bitcoin price.   It's   it's amazing to me that we're not   and I'm not talking much lower in price. I'm talking about much less adoption.   I didn't see ETFs coming. And, sure, you can say, but they're bad. Okay. I get it, but they exist.   And they exist from a legacy financial system that laughed at us for a decade,   and yet here they are going, you know, we better do something quick. So you may not like it,   but the fact that they did it,   that that has a lot of pertinent information   that can   inform us   about what other people are thinking about this. And and   India being in the number one spot for adoption is kind of amazing. I would have thought   I would have thought if we were talking about continents, you know, continent scale   countries,   that we would just look at Africa as an entire continent. But since it's, like, broken up into 47 different countries,   that's it's no wonder. But I'll bet you   that if you were to say, okay. India versus the African continent, I'll bet you Africa actually wins.  

Anyway, that's that's it for today.   I hope you have an an excellent Thursday, and I will see you on the other side.  

[01:07:42] David Bennett:

This has been Bitcoin, and and I am your host, David Bennett. I hope you enjoyed today's episode and hope to see you again real soon.   Have a great day.