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Coming to you live from the Colorado compound. It's Bitcoin and episode, I don't know, man. I just don't get it. I'm playing around with my RODECaster Pro 2. I'm up here in a garage, like, a room over a garage with, like, some carpet on the wall. I got a fan going somewhere. I've got a coffee table made of granite. I've got a uncomfortable ass chair. It doesn't get any worse than this when you really think about it. So bear with me as I try to figure out how the hell I'm going to do these shows with a laptop, this road caster. I'm I'm just asking for a little bit of a little bit of, sympathy because I am roughing it out here in the mountains in Colorado. But I've always wanted to do this. So we're going to do this shit live, which is proton, proton mail. I'm a proton mail user and they've announced something pretty special. I guess I will have to see where it goes. We always have to see what actually happens because we get good news and then it turns out to be a shit show. Like, I don't know, Swan is somehow or another gotten themselves into a financial bind and is laying a bunch of people off and has something to do with that whole mining thing.
I thought that that was good news, but apparently, it was the wrong move. So let's see what ProtonMail is doing. They're launching Proton Wallet, which is a self custody Bitcoin wallet. Proton is a privacy focused Swiss technology company, and it is launching Proton Wallet, the self custody Bitcoin wallet. Quote, our long term vision is for Proton Wallet to be a digital wallet that gives you full control of your digital assets. While the type of assets that you can hold in Proton Wallet may evolve over time, As we add more capabilities in response to community demand, Proton Wallet is starting off as a self custody Bitcoin wallet, announced Proton CEO Andy Yin in a blog post.
The product is current currently available to Proton Visionary and Lifetime plan users. Other users can sign up to an early wait list or receive an invite from an active Proton Wallet user. Quote, Bitcoin's value to society has been hindered by the difficulty of transacting and security concerns, and we designed Proton Wallet to specifically address both. Proton Wallet's ability to support Bitcoin via email via email support Bitcoin via email that that's important now makes Bitcoin transactions as easy to use as PayPal while preserving the decentralized and noncustodial nature of Bitcoin itself, Yen said in a press release.
Proton Wallet is an on chain wallet and has not implemented Lightning yet for one main reason. Excuse me. Lightning is very difficult to do in a non custodial way. Yen told Bitcoin Magazine, quote, if you want to do non custodial lightning and you want to have people open up channels of their own, that's a user experience that at the present moment still isn't really solved. But lightning support is something that we can add in the future as we find ways to work around the user experience problem, end quote. Key features, your keys, your coins.
Proton Wallet is a non custodial wallet, and we utilize end to end encryption to ensure that we never have access to your Bitcoin. The wallet rotates public addresses every time a user sends or receives assets, or assets in the transaction. And this way, you can't use a blockchain explorer explorer to track all past transactions associated with a specific public address. Wow. These guys actually got looks like they got their shit together. So Bitcoin via email. This is interesting. Quote, as long as both the sender and the recipient have a proton wallet, you only need the recipient's email address to send them Bitcoin.
That also means that if you are one of the millions of people who have a ProtonMail email address, you can now automatically receive Bitcoin with your email address. Even if the recipient does not have ProtonMail or protonmail email, as long as they do have a proton account, which can also be created with a third party email address, like Gmail outlook, icloud, etcetera, and are using proton wallet. You can send and receive Bitcoin with them via their email address. Okay. So let's see. Buy Bitcoin securely in 150 plus countries, open source and publicly audible auditable. The Proton Wallet is open source, so all of our security claims can be checked by the public to enhance security.
247 human support. Unlike other wallets, we got your back. You you could reach a real human 20 4 73 65 and get personal support for all inquiries, both simple and complex. There's built in support for 2 factor authentication and robust recovery methods. There's enhanced security with Proton Sentinel. Proton Sentinel uses advanced machine learning and, oh, god, AI that's analyzed millions of logins to detect and block malicious login attempts with high accuracy. This enables Proton to protect your account even in situations where you have already been compromised and an attacker has gained access to your login credentials.
Okay. That's going to be kind of interesting to see live, proton wallet is operated by proton financial, a G an independent Swiss subsidiary of proton, a G whose primary shareholder is the nonprofit Proton Foundation. Alright. So it turns out, from a a note on Noster that I saw earlier this morning, Matt Odell apparently consulted on this particular project with the Proton guys. He's endorsing it. And generally speaking, he's pretty rough when you know, rough around the edges when somebody presents, you know, what could possibly be a security nightmare for, people with Bitcoin.
He will be the first to tell people, no. Don't do that shit. So this is one to watch. This protonmail news is is a pretty big drop, and it's it's gonna be interesting to see how the rest of it plays out. Now moving on to Mt. Gox, finally, we're getting into the the nitty gritty of this whole Mt. Gox issue. And I just I just can't wait for this whole thing to be over. It looks like it's it looks like it's gonna be over pretty quick. Josh O'Sullivan from Cointelegraph, Mt. Gox sees $3,200,000,000 of BTC and outflows in just 2 hours.
Oh, wow. That's pretty that's pretty fast. Okay. So let's get down here. Mt. Gox, again, began shifting funds on July 23rd moving over 47,500 bitcoin worth almost 2 or 3,200,000,000 to 2 unknown addresses at 505 AM and 6:27 AM UTC. According to ARCEM intelligence data, Mt. Gox holds 90,344 Bitcoin worth $6,000,000,000. But this is outdated, and its current holdings now stand at around 42,744, which is worth 2,850,000,000 following the defunct Exchange's repayment statement on July 5th. It established plans to promptly carry out repayments to creditors that seem well underway.
The Mt. Gox wallet, labeled Mt. Gox cold wallet, sent 5,110 Bitcoin worth around 340,000,000 to an unknown wallet and the cryptocurrency exchange, Bitstamp. Of the 5,110, 2871 BTC was sent to an unknown address starting with 1jkms, while the remaining funds worth a 149,000,000 landed on Bitstamp. The preceding 42,587 BTC was sent out earlier to another unknown address starting with 15 YPU. On July 22nd, Mt. Gox began preparing to repay creditors through Bitstamp according to on chain fund holding movements. According to Arcam Intelligence, Mt. Gox addresses deposited $1 to 4 separate Bitstamp deposit addresses.
Quote, Bitstamp is 1 of 5 exchanges working with the Mt. Gox trustee. Despite finance analyst Jacob King speculating on Twitter on July 4th that 99% of creditors would sell their coins the moment they get them, a Reddit poll said otherwise. With the latest 3,200,000,000 in BTC shifted out of the Mt. Gox address, the tally amounts to over $12,000,000,000 sent out since July 16th to distributing entities helping return funds to creditors. On July 16th, the defunct exchange saw outflows of over a 140,000 BTC in a significant move after 2 weeks of on chain inactivity. With a volume of almost 190,000 BTC moved in just 3 hours, Mt. Gox Fund Outflows contributed to over $12,000,000,000 in volume movements as repayments proceed as promised.
Oh, so where are we at on the price? Let me, let me get that. I'm gonna get I should have had that up because it's been fluctuating since these things have been announced. So let me get on here and I will tell you what's going on. And trading views coming up. I'm actually having to use my phone. I'm telling you, man, this thing, it's, it's rough today. It is going to be, it's going to be pretty rough. We are at 66,370. We were basically when this news broke, we came down from no. We were at around 68,000, and we've lost, you know, 1500.
It's not bad considering all the speculation around the release of the Mt. Gox coins was going to result in just a, you know, bitcoins going to 0, and it didn't. I now, I don't know what, Bitcoin Cash is doing. I don't think I even have Bitcoin Cash up here anymore. Hold. Let me let me see if I do. Yeah. Bitcoin Cash has actually gained 1.29%. So it looks like people aren't even selling their Bitcoin cash. It looks like some people are buying it. I don't know why. It's a garbage coin. I would stay as far away from it as humanly possible if I could. But for all of the hype, it doesn't look very much like, the Mt. Gox coins are are, causing a whole bunch of crashing. So on to cars.
Ferrari is going to extend cryptocurrency repayments to Europe, according to Reuters. The company also plans to extend the services to other markets by the end of the year. Ferrari will extend its provision for cryptocurrency payments to Europe by the end of July, Reuters reported on Wednesday. The Maranello, Italy based luxury sports car manufacturer began accepting crypto in the United States last October in partnership with BitPay. Bitcoin, Shitcoin number 1, and USD coin were the tokens accepted. But Ferrari is now extending that program to Europe to support dealers in better addressing the evolving needs of its clients, Reuters said, citing a company statement. The company plans to extend the services to other markets by the end of this year. Despite crypto's popularity as an investment, it remains relatively rare for major companies to accept it as a means of payment, possibly due to lack of demand from customers.
Crypto holders might not wish to spend their coins on everyday purchases out of the concerns that they'll be worse off if the crypto's values increase. This may not be an issue with luxury items like cars, which also hold long term value. No. They don't. No. No. They don't. Neither Ferrari nor BitPay responded to a request for comment. I got a comment. All cars lose their value unless there's there's a very specific case. If you go buy a Ferrari brand new, I mean, brand new, and you don't even drive it off the lot, you drive it onto a truck and you haul that son of a bitch to what amounts to cold storage and you wrap it in cellophane and keep it in a climate controlled room humidity, temperature, the whole nine and you leave it that way for, like, 25 years, it will probably increase in value. And it definitely won't lose its value.
If you were to do that for 50 years, it would definitely increase in value because it's never been actually driven by the person that bought it. That's the only case that I can think of. Now if you were to do that with, like, I don't know, like, just a Toyota pickup truck, I don't think that would work either. But it is what it is. So I'm just saying that when they say that luxury items like cars hold long term value, don't believe that. That's that's kind of bullshit. Alright. Moving on to Trump. From decrypt.c0, we've got this headline. Trump denies considering Bitcoin skeptic Jamie Dimon or BlackRock's Larry Fink for treasury secretary. So let's see what's going on here by Andrew Thorvallis.
Donald Trump has denied reports that he plans to hire either JPMorgan CEO Jamie Dimon or BlackRock CEO Larry Fink as treasury secretary if he's reelected as president. Quote, I don't know who said it or where it came from. Perhaps the radical left. But I have never discussed or thought of Jamie Dimon or Larry Fink for secretary of the treasury, Trump wrote to his social media platform, Truth Social, on Tuesday. In truth, speculation surrounding both financial heavyweights stemmed from initial reports by Bloomberg and the New York Post last week and spread like wildfire among the curious and excited Bitcoin fans.
On June 16th, Bloomberg published a transcript of an interview it had conducted with Trump in late June, during which Trump apparently floated Dimon as a valid pick. Quote, I have a lot of respect for Jamie Dimon, Trump said according to Bloomberg. He is somebody I would consider, end quote. As reported by Decrypt, Trump also claimed that Dimon's opinions on Bitcoin may have started to flip positive based on the president's prior meeting with him. Quote, Jamie Dimon was, you know, very negative. And now all of a sudden, he's changed his tune a little bit, Trump said. Meanwhile, the New York Post soon countered the Jamie Dimon speculation with claims about the odd and interesting relationship between Larry Fink and Donald Trump. But BlackRock managed Trump's investment portfolio for years, he noted, while claiming that Trump is still seeking out Fink for insights into the economy. Quote, Trump likes to tout JPMorgan superbanker CEO Jamie Dimon as a possible treasury secretary, but it's really Fink whom he likes, respects, and speaks with, I am told, the post wrote.
Larry Fink's firm is now home to the world's largest Bitcoin ETF. Fink himself has said he's a major believer in Bitcoin, calling it an investment for those frightened of the world. Oh, Jesus. God. Dang, Larry. That's kind of a, that's a pretty blunt and pointed statement there. Okay. So, normally this is where I might consider doing the market recap, but I'm not going to do that. I'm going to go straight on in to some general news around the world. We're gonna keep this episode short, see how it goes because, you know, every time you're doing something new, yeah.
Yeah. It's just it's just bizarre. So, no bs bitcoin.com polar version 3.0.0. Lightning terminal nodes with Taproot assets channels. Polar is a tool for creating one click lightning networks used in local app development and testing. It's available on Windows, Mac, and Linux. I've seen this before, but it's been out of the news for a while. So let's see what's going on. Quote, announcing the release of version 3.0.0. This release comes with the support for the latest LND, core lightning, and eclair versions, as well as a new addition to the app. Polar now includes lightning terminal nodes with support for Taproot assets channels, announced the project.
Lightning terminal nodes contain both LND and TAPD integrated into a single daemon or daemon if you prefer that pronunciation. They can mint, send, and receive assets on chain as well as open and close channels and send and receive lightning payments. A receipt, or rather, recipient, can create an invoice to receive assets and it can be paid with either the same assets or BTC. The opposite is true as well. A sender can choose to pay a BTC invoice using the assets of their choosing or BTC. The recipient doesn't even need to be an l I t d node. They can be core lightning, eclair or lnd.
Lightning terminal nodes also support connecting to them via lightning node connect or LNC. Just create a new session and copy the pairing phrase into any app that supports LNC. Here's an excellent Zeus LN wallet connecting and making payments, and they basically have a small video for it. So what's new? Rename any of the nodes to better represent the use cases that you are testing. Automatically shut down any running Docker containers when quitting the app. Real time updates of channel status, so pending open close updates made via the CLI or external apps are reflected in the UI without having to hit the refresh icon manually.
The number of nodes used to create a network will default to the value you used last, saving a few clicks when recreating similar networks repeatedly. So this is sort of a testing, like, testing bed where you can kind of create, Lightning Networks. But what's interesting is the interface that you use. It's basically a graphic user interface, and the nodes are just, you know, like little boxes and you connect nodes up with, you know, little lines. And I honestly, I kind of think, you know, I kind of keep thinking that at one point or another, we're gonna see this in the wild as not as something more than just a testing bed for developers. And one of these days, we are gonna see that. I guarantee it. I just don't know when. Now state chains j s, it's like e cash.
But if an operator goes down, you can still recover your sats. State Chain JS is a vanilla JavaScript implementation of a state chain client and an operator. Let's see what we got going on here. Quote, my latest invention is state chain JS. Basically, it's like eCash, but if an operator goes down, you can still recover your satoshis. Being like eCash means transfers are fast and free, but the operator can rob you. So be careful, announced Supertestnet. Quote, unlike eCash Mints, which have full custody of your money, the only way a state chain operator can rob you is through a double spend. They can help someone take back money that they sent you. But if some authority figure demanded that a state chain operator confiscate coins from folks who don't KYC, they cannot help with that except if they first prepare a double spend attack on every user.
Wow. That's that's really interesting. Hold on for a second. I wanna I wanna check that out again. Yeah. So I was just rereading that for myself and this it's that's really interesting. They would a state chain guy would be able to or would have to actually prepare quite a bit of stuff ahead of time for every single user if they were going to be able to confiscate the funds held on that state chain. At that and and exactly what Supertestnet said is that if if you were a a state chain operator, and I don't know, some justice department official calls you and say, hey. You gotta confiscate these funds. You can say, I I don't I can't.
I physically cannot do that. And again, this this always leads me back to the, you know, the question, if you are like a lightning node operator, if, you know, state chains, e cash mint operator, how how much trouble can we be in? And I I wish I'd really knew the answer to that. And I think, technically, and potentially, even I could be already on the wrong side of the law because I'm a lightning node operator and my lightning node routes payments. Am I a a money transmitter? But I think that the landscape around Bitcoin and e cash and now these state chains and lightning network and I think it's I think the landscape changes so fast that there's no real way for the regulatory authority to do anything but sit and watch. So but it's good that Supertestnet is has built something that is sort of along the lines of Google's old motto that said, don't be evil.
In this case, people are building stuff that can't be evil. And I I really appreciate when people do that. Okay. So OpenSats grants long term support for fiat. Joff, Let's get to it. OpenSats is proud to announce long term support for Fiat. Joffe, a run of the mill master developer announced the organization. Yeah. Run-in the mill. He created the protocol. Quote, this long term grant will enable fiatjoff to focus on some of his Nostra side projects, such as Nostra Tools, Nost 2x, GoNoster, Katru, Event Store, N Jump, Lure, Wikister, Patch 34, NAC, Getster, Song, MMM, and Promenade. I had no idea that he was into all that stuff.
What I'm looking for is Getster. We need we need GitHub on Noster. It's close, but no cigar yet. I'm hoping Getster, you know, will maybe do that. And I have no idea what the hell is or the m triple m here. But finishing up, consider making a donation to open sets, the Nostra Fund, to support the Nostra protocol contributors. Yeah. I I I highly recommend, doing that. And, again, I think the last time that we that I spoke to you guys on the show, I had mentioned that, somebody else had gotten into the game of granting money to Bitcoin developers, specifically Bitcoin, not Lightning, not Nostred, just Bitcoin.
And what I'm hoping is that open sets will start will allow them to take on a little bit more of the bitcoin development burden. And that way, Open Sats can focus a little bit more on Lightning and Noster, development grants because these things are critically important, and e cash. You know, the e cash stuff, the lightning stuff, the Noster stuff, it that's the only way that this is my opinion. It's the only way that we can stay completely ahead of of the regulatory burden of the state is by constantly coming up with something new. Give them no choice.
Is that's what I'm getting at. We have to give all the governments of the world absolutely no choice but to play fucking ball because they're not going to be able to keep up. The the this landscape is changing so fast. I feel sorry for any country's regulatory schema trying to figure out where this shit's gonna go next. Nobody knows where this is gonna go next. There are so many people that are forfeiting whole treasure, like, lifelong earning potential to work on this stuff because we know if we don't, what comes next? So as more Bitcoin core grants come online, I'm hoping that the people that have been funding Bitcoin core projects start funneling more and more money into the other aspects of this ecosystem because it's going to be absolutely important.
And speaking of, we have Nostrweb services. Yes. You can enable TCP on Nostr. And the implications are huge. Some people think that the entire thing is overblown and completely misunderstood. I'm hoping that this particular release from no bullshit Bitcoin will kind of, you know, I don't know, clear things up for us. Nostr Web Services or NWS replaces the IP layer in TCP transport using noster enabling a secure connection between clients and back end services exit nodes are reachable through their end profiles which are combinations of a Nostra public key and multiple relays.
After several weeks of persistent effort, I'm excited to share NostraWeb Services announced ASMOGO, a s m o g o. That's at and I don't know. I guess that's probably a Twitter handle. Quote, NWS makes your web services reachable without having a publicly accessible IP address or DNS. All you need is an in pub in a set of noster relays. Jesus. A wide range of existing services could be run on NWS without requiring any significant changes. NWS achieves this by establishing a TCP connection between client and server, which can be used by these applications.
Please keep in mind that the software is in a very early stage and not even released yet, added the developer. Let's see. K. So let's see what, Cali has to say about it. NWS works with and without encrypted transport. There are lots of different flavors to explore When used without encryption, the entry node must be run by the user themselves because public entry nodes would be able to listen in otherwise. 2 options in those cases, run the entry node locally in tandem with your unmodified client or skip the entry node and modify the client so that the data is sent through Nostr to the exit node directly the client is the entry node.
When used with encryption. The entry node can also be public. If the encryption doesn't rely on certificate authorities, it just works. You have to make sure that you're talking to the right person, but that problem is as old as computer science. For example, SSH will ask you to confirm the fingerprint of the server when you connect. If the encryption is HTTPS and the certificate was issued for a normal domain, your browser will complain. Do do you trust the website? And the user will have to say, let me pass, even if insecure without ugly hacks, like issuing your own root certification, for example. I don't know very many ways to circumvent this.
Note that Tor services doesn't support HTTPS, and they don't have to since transport is always sphinx encrypted, even hidden from the entry node. So maybe maybe we have it. Maybe this is cracked. And so basically, this is the Internet over the Nostra protocol. We've been relying on TCP IP for as long as anybody listening to my voice has been using a computer. Not not technically that's not technically right. When Netscape first dropped for Windows 3.1, Right? And and Mac. And then after that, Microsoft got into the game with their browsers. But when we started using web browsers, that's when you started relying on TCP IP almost entirely. And it wasn't very long after that that phone calls, almost all phone communications, are are now on the Internet on the TCPIP layer, like AT and T, Sprint, you name it.
They're they're really not running over the old, switchers that they used to use. They're all running over TCP IP. So when I'm connecting to a website with 1 of my brow to a any website, like, I don't know, drudgereportdot com, which I don't actually go to anymore, but I did. I I was a big drudge addict for a long, long time. But when I was connecting to that, certificates were issued. Are you sure you wanna go to this website? You know, the questions are always around, is my connection to this place secure? And is the place that I'm going to really the place that I want to go to? Is this where I is is the data coming through the data that I actually want and not somebody spoofing to, I don't know, infect my computer with some kind of virus?
So what we've got here with Nostra Web Services is it looks like they're basically saying we don't have to use DNS and we don't really have to use the leg you know, most of the legacy stuff the way that it's being used today. We can replace the good guts and feathers of it with what's going on in the Nostra protocol. Now if that's true, then I I don't even know what the implications are at this point. It it it's amazing. First of all, I will say that, is that if we don't have to rely on DNS and all the rest of the gatekeepers that are out there, then the web becomes free.
The web becomes what all the people that helped develop the web said we lost. Like, Tim Berners Lee is one of the people saying that we've got to rebuild the web because we screwed it all up. And I have always thought I don't think that that's necessary because all the web is is just a series of data connections. How we handle those connections gets us into trouble, like getting booted off of Twitter, you know, getting canned from Instagram or not being able to see websites, in Europe because the European authorities are able to block it because they have control of TCPIP, but they don't have control of Noster.
So if this Noster web services is correct and it actually works and it continues to be worked on, then this could be what unleashes the World Wide Web the way that we always thought it could be. Now with that said, I'm going to finish this episode off with a little bit of bumper music. It's coming. It's crappy bumper music, man. You know why? Because it came on the actual Rodecaster Pro 2. On for you guys that actually wanna do audio production or or something like that, I got it. I gotta say, the RODECaster Pro 2 is actually pretty damn cool, man. It it works out of the box.
It does everything I need it to do. It connects to a computer. It that way, I can just have the way that you're gonna get this shit, I'm just gonna be able to put this whole thing onto my computer, and it's going to, like, turn it from a WAV file into an MP 3, and you're gonna get it. And it's gonna be great. But like I said, lots of bumps. I've you know, it's it's I haven't really ever gone mobile before. So please do me a favor. Bear with me. Also, another plea. I do not have access to all of the websites that I usually have access to yet. Will you do me a favor? And when this drops, grab the fountain link or whatever link on your podcast app is and send it around the horn.
Get just drop it into a note. Say, hey. You know, listen to this. It's Bitcoin. And, he's still alive. He's not dead. He's up at the Colorado compound. And if you do that for me, I would really appreciate it because I'm sort of trying to get my feet wet up here. It's been a busy busy ass week. A lot of driving. A big flat tire in Salt Lake City really threw us for a loop. So if you would do that, I would appreciate it. And I will see you on the other side.
Coming to you live from the Colorado compound. It's Bitcoin and episode, I don't know, man. I just don't get it. I'm playing around with my RODECaster Pro 2. I'm up here in a garage, like, a room over a garage with, like, some carpet on the wall. I got a fan going somewhere. I've got a coffee table made of granite. I've got a uncomfortable ass chair. It doesn't get any worse than this when you really think about it. So bear with me as I try to figure out how the hell I'm going to do these shows with a laptop, this road caster. I'm I'm just asking for a little bit of a little bit of, sympathy because I am roughing it out here in the mountains in Colorado. But I've always wanted to do this. So we're going to do this shit live, which is proton, proton mail. I'm a proton mail user and they've announced something pretty special. I guess I will have to see where it goes. We always have to see what actually happens because we get good news and then it turns out to be a shit show. Like, I don't know, Swan is somehow or another gotten themselves into a financial bind and is laying a bunch of people off and has something to do with that whole mining thing.
I thought that that was good news, but apparently, it was the wrong move. So let's see what ProtonMail is doing. They're launching Proton Wallet, which is a self custody Bitcoin wallet. Proton is a privacy focused Swiss technology company, and it is launching Proton Wallet, the self custody Bitcoin wallet. Quote, our long term vision is for Proton Wallet to be a digital wallet that gives you full control of your digital assets. While the type of assets that you can hold in Proton Wallet may evolve over time, As we add more capabilities in response to community demand, Proton Wallet is starting off as a self custody Bitcoin wallet, announced Proton CEO Andy Yin in a blog post.
The product is current currently available to Proton Visionary and Lifetime plan users. Other users can sign up to an early wait list or receive an invite from an active Proton Wallet user. Quote, Bitcoin's value to society has been hindered by the difficulty of transacting and security concerns, and we designed Proton Wallet to specifically address both. Proton Wallet's ability to support Bitcoin via email via email support Bitcoin via email that that's important now makes Bitcoin transactions as easy to use as PayPal while preserving the decentralized and noncustodial nature of Bitcoin itself, Yen said in a press release.
Proton Wallet is an on chain wallet and has not implemented Lightning yet for one main reason. Excuse me. Lightning is very difficult to do in a non custodial way. Yen told Bitcoin Magazine, quote, if you want to do non custodial lightning and you want to have people open up channels of their own, that's a user experience that at the present moment still isn't really solved. But lightning support is something that we can add in the future as we find ways to work around the user experience problem, end quote. Key features, your keys, your coins.
Proton Wallet is a non custodial wallet, and we utilize end to end encryption to ensure that we never have access to your Bitcoin. The wallet rotates public addresses every time a user sends or receives assets, or assets in the transaction. And this way, you can't use a blockchain explorer explorer to track all past transactions associated with a specific public address. Wow. These guys actually got looks like they got their shit together. So Bitcoin via email. This is interesting. Quote, as long as both the sender and the recipient have a proton wallet, you only need the recipient's email address to send them Bitcoin.
That also means that if you are one of the millions of people who have a ProtonMail email address, you can now automatically receive Bitcoin with your email address. Even if the recipient does not have ProtonMail or protonmail email, as long as they do have a proton account, which can also be created with a third party email address, like Gmail outlook, icloud, etcetera, and are using proton wallet. You can send and receive Bitcoin with them via their email address. Okay. So let's see. Buy Bitcoin securely in 150 plus countries, open source and publicly audible auditable. The Proton Wallet is open source, so all of our security claims can be checked by the public to enhance security.
247 human support. Unlike other wallets, we got your back. You you could reach a real human 20 4 73 65 and get personal support for all inquiries, both simple and complex. There's built in support for 2 factor authentication and robust recovery methods. There's enhanced security with Proton Sentinel. Proton Sentinel uses advanced machine learning and, oh, god, AI that's analyzed millions of logins to detect and block malicious login attempts with high accuracy. This enables Proton to protect your account even in situations where you have already been compromised and an attacker has gained access to your login credentials.
Okay. That's going to be kind of interesting to see live, proton wallet is operated by proton financial, a G an independent Swiss subsidiary of proton, a G whose primary shareholder is the nonprofit Proton Foundation. Alright. So it turns out, from a a note on Noster that I saw earlier this morning, Matt Odell apparently consulted on this particular project with the Proton guys. He's endorsing it. And generally speaking, he's pretty rough when you know, rough around the edges when somebody presents, you know, what could possibly be a security nightmare for, people with Bitcoin.
He will be the first to tell people, no. Don't do that shit. So this is one to watch. This protonmail news is is a pretty big drop, and it's it's gonna be interesting to see how the rest of it plays out. Now moving on to Mt. Gox, finally, we're getting into the the nitty gritty of this whole Mt. Gox issue. And I just I just can't wait for this whole thing to be over. It looks like it's it looks like it's gonna be over pretty quick. Josh O'Sullivan from Cointelegraph, Mt. Gox sees $3,200,000,000 of BTC and outflows in just 2 hours.
Oh, wow. That's pretty that's pretty fast. Okay. So let's get down here. Mt. Gox, again, began shifting funds on July 23rd moving over 47,500 bitcoin worth almost 2 or 3,200,000,000 to 2 unknown addresses at 505 AM and 6:27 AM UTC. According to ARCEM intelligence data, Mt. Gox holds 90,344 Bitcoin worth $6,000,000,000. But this is outdated, and its current holdings now stand at around 42,744, which is worth 2,850,000,000 following the defunct Exchange's repayment statement on July 5th. It established plans to promptly carry out repayments to creditors that seem well underway.
The Mt. Gox wallet, labeled Mt. Gox cold wallet, sent 5,110 Bitcoin worth around 340,000,000 to an unknown wallet and the cryptocurrency exchange, Bitstamp. Of the 5,110, 2871 BTC was sent to an unknown address starting with 1jkms, while the remaining funds worth a 149,000,000 landed on Bitstamp. The preceding 42,587 BTC was sent out earlier to another unknown address starting with 15 YPU. On July 22nd, Mt. Gox began preparing to repay creditors through Bitstamp according to on chain fund holding movements. According to Arcam Intelligence, Mt. Gox addresses deposited $1 to 4 separate Bitstamp deposit addresses.
Quote, Bitstamp is 1 of 5 exchanges working with the Mt. Gox trustee. Despite finance analyst Jacob King speculating on Twitter on July 4th that 99% of creditors would sell their coins the moment they get them, a Reddit poll said otherwise. With the latest 3,200,000,000 in BTC shifted out of the Mt. Gox address, the tally amounts to over $12,000,000,000 sent out since July 16th to distributing entities helping return funds to creditors. On July 16th, the defunct exchange saw outflows of over a 140,000 BTC in a significant move after 2 weeks of on chain inactivity. With a volume of almost 190,000 BTC moved in just 3 hours, Mt. Gox Fund Outflows contributed to over $12,000,000,000 in volume movements as repayments proceed as promised.
Oh, so where are we at on the price? Let me, let me get that. I'm gonna get I should have had that up because it's been fluctuating since these things have been announced. So let me get on here and I will tell you what's going on. And trading views coming up. I'm actually having to use my phone. I'm telling you, man, this thing, it's, it's rough today. It is going to be, it's going to be pretty rough. We are at 66,370. We were basically when this news broke, we came down from no. We were at around 68,000, and we've lost, you know, 1500.
It's not bad considering all the speculation around the release of the Mt. Gox coins was going to result in just a, you know, bitcoins going to 0, and it didn't. I now, I don't know what, Bitcoin Cash is doing. I don't think I even have Bitcoin Cash up here anymore. Hold. Let me let me see if I do. Yeah. Bitcoin Cash has actually gained 1.29%. So it looks like people aren't even selling their Bitcoin cash. It looks like some people are buying it. I don't know why. It's a garbage coin. I would stay as far away from it as humanly possible if I could. But for all of the hype, it doesn't look very much like, the Mt. Gox coins are are, causing a whole bunch of crashing. So on to cars.
Ferrari is going to extend cryptocurrency repayments to Europe, according to Reuters. The company also plans to extend the services to other markets by the end of the year. Ferrari will extend its provision for cryptocurrency payments to Europe by the end of July, Reuters reported on Wednesday. The Maranello, Italy based luxury sports car manufacturer began accepting crypto in the United States last October in partnership with BitPay. Bitcoin, Shitcoin number 1, and USD coin were the tokens accepted. But Ferrari is now extending that program to Europe to support dealers in better addressing the evolving needs of its clients, Reuters said, citing a company statement. The company plans to extend the services to other markets by the end of this year. Despite crypto's popularity as an investment, it remains relatively rare for major companies to accept it as a means of payment, possibly due to lack of demand from customers.
Crypto holders might not wish to spend their coins on everyday purchases out of the concerns that they'll be worse off if the crypto's values increase. This may not be an issue with luxury items like cars, which also hold long term value. No. They don't. No. No. They don't. Neither Ferrari nor BitPay responded to a request for comment. I got a comment. All cars lose their value unless there's there's a very specific case. If you go buy a Ferrari brand new, I mean, brand new, and you don't even drive it off the lot, you drive it onto a truck and you haul that son of a bitch to what amounts to cold storage and you wrap it in cellophane and keep it in a climate controlled room humidity, temperature, the whole nine and you leave it that way for, like, 25 years, it will probably increase in value. And it definitely won't lose its value.
If you were to do that for 50 years, it would definitely increase in value because it's never been actually driven by the person that bought it. That's the only case that I can think of. Now if you were to do that with, like, I don't know, like, just a Toyota pickup truck, I don't think that would work either. But it is what it is. So I'm just saying that when they say that luxury items like cars hold long term value, don't believe that. That's that's kind of bullshit. Alright. Moving on to Trump. From decrypt.c0, we've got this headline. Trump denies considering Bitcoin skeptic Jamie Dimon or BlackRock's Larry Fink for treasury secretary. So let's see what's going on here by Andrew Thorvallis.
Donald Trump has denied reports that he plans to hire either JPMorgan CEO Jamie Dimon or BlackRock CEO Larry Fink as treasury secretary if he's reelected as president. Quote, I don't know who said it or where it came from. Perhaps the radical left. But I have never discussed or thought of Jamie Dimon or Larry Fink for secretary of the treasury, Trump wrote to his social media platform, Truth Social, on Tuesday. In truth, speculation surrounding both financial heavyweights stemmed from initial reports by Bloomberg and the New York Post last week and spread like wildfire among the curious and excited Bitcoin fans.
On June 16th, Bloomberg published a transcript of an interview it had conducted with Trump in late June, during which Trump apparently floated Dimon as a valid pick. Quote, I have a lot of respect for Jamie Dimon, Trump said according to Bloomberg. He is somebody I would consider, end quote. As reported by Decrypt, Trump also claimed that Dimon's opinions on Bitcoin may have started to flip positive based on the president's prior meeting with him. Quote, Jamie Dimon was, you know, very negative. And now all of a sudden, he's changed his tune a little bit, Trump said. Meanwhile, the New York Post soon countered the Jamie Dimon speculation with claims about the odd and interesting relationship between Larry Fink and Donald Trump. But BlackRock managed Trump's investment portfolio for years, he noted, while claiming that Trump is still seeking out Fink for insights into the economy. Quote, Trump likes to tout JPMorgan superbanker CEO Jamie Dimon as a possible treasury secretary, but it's really Fink whom he likes, respects, and speaks with, I am told, the post wrote.
Larry Fink's firm is now home to the world's largest Bitcoin ETF. Fink himself has said he's a major believer in Bitcoin, calling it an investment for those frightened of the world. Oh, Jesus. God. Dang, Larry. That's kind of a, that's a pretty blunt and pointed statement there. Okay. So, normally this is where I might consider doing the market recap, but I'm not going to do that. I'm going to go straight on in to some general news around the world. We're gonna keep this episode short, see how it goes because, you know, every time you're doing something new, yeah.
Yeah. It's just it's just bizarre. So, no bs bitcoin.com polar version 3.0.0. Lightning terminal nodes with Taproot assets channels. Polar is a tool for creating one click lightning networks used in local app development and testing. It's available on Windows, Mac, and Linux. I've seen this before, but it's been out of the news for a while. So let's see what's going on. Quote, announcing the release of version 3.0.0. This release comes with the support for the latest LND, core lightning, and eclair versions, as well as a new addition to the app. Polar now includes lightning terminal nodes with support for Taproot assets channels, announced the project.
Lightning terminal nodes contain both LND and TAPD integrated into a single daemon or daemon if you prefer that pronunciation. They can mint, send, and receive assets on chain as well as open and close channels and send and receive lightning payments. A receipt, or rather, recipient, can create an invoice to receive assets and it can be paid with either the same assets or BTC. The opposite is true as well. A sender can choose to pay a BTC invoice using the assets of their choosing or BTC. The recipient doesn't even need to be an l I t d node. They can be core lightning, eclair or lnd.
Lightning terminal nodes also support connecting to them via lightning node connect or LNC. Just create a new session and copy the pairing phrase into any app that supports LNC. Here's an excellent Zeus LN wallet connecting and making payments, and they basically have a small video for it. So what's new? Rename any of the nodes to better represent the use cases that you are testing. Automatically shut down any running Docker containers when quitting the app. Real time updates of channel status, so pending open close updates made via the CLI or external apps are reflected in the UI without having to hit the refresh icon manually.
The number of nodes used to create a network will default to the value you used last, saving a few clicks when recreating similar networks repeatedly. So this is sort of a testing, like, testing bed where you can kind of create, Lightning Networks. But what's interesting is the interface that you use. It's basically a graphic user interface, and the nodes are just, you know, like little boxes and you connect nodes up with, you know, little lines. And I honestly, I kind of think, you know, I kind of keep thinking that at one point or another, we're gonna see this in the wild as not as something more than just a testing bed for developers. And one of these days, we are gonna see that. I guarantee it. I just don't know when. Now state chains j s, it's like e cash.
But if an operator goes down, you can still recover your sats. State Chain JS is a vanilla JavaScript implementation of a state chain client and an operator. Let's see what we got going on here. Quote, my latest invention is state chain JS. Basically, it's like eCash, but if an operator goes down, you can still recover your satoshis. Being like eCash means transfers are fast and free, but the operator can rob you. So be careful, announced Supertestnet. Quote, unlike eCash Mints, which have full custody of your money, the only way a state chain operator can rob you is through a double spend. They can help someone take back money that they sent you. But if some authority figure demanded that a state chain operator confiscate coins from folks who don't KYC, they cannot help with that except if they first prepare a double spend attack on every user.
Wow. That's that's really interesting. Hold on for a second. I wanna I wanna check that out again. Yeah. So I was just rereading that for myself and this it's that's really interesting. They would a state chain guy would be able to or would have to actually prepare quite a bit of stuff ahead of time for every single user if they were going to be able to confiscate the funds held on that state chain. At that and and exactly what Supertestnet said is that if if you were a a state chain operator, and I don't know, some justice department official calls you and say, hey. You gotta confiscate these funds. You can say, I I don't I can't.
I physically cannot do that. And again, this this always leads me back to the, you know, the question, if you are like a lightning node operator, if, you know, state chains, e cash mint operator, how how much trouble can we be in? And I I wish I'd really knew the answer to that. And I think, technically, and potentially, even I could be already on the wrong side of the law because I'm a lightning node operator and my lightning node routes payments. Am I a a money transmitter? But I think that the landscape around Bitcoin and e cash and now these state chains and lightning network and I think it's I think the landscape changes so fast that there's no real way for the regulatory authority to do anything but sit and watch. So but it's good that Supertestnet is has built something that is sort of along the lines of Google's old motto that said, don't be evil.
In this case, people are building stuff that can't be evil. And I I really appreciate when people do that. Okay. So OpenSats grants long term support for fiat. Joff, Let's get to it. OpenSats is proud to announce long term support for Fiat. Joffe, a run of the mill master developer announced the organization. Yeah. Run-in the mill. He created the protocol. Quote, this long term grant will enable fiatjoff to focus on some of his Nostra side projects, such as Nostra Tools, Nost 2x, GoNoster, Katru, Event Store, N Jump, Lure, Wikister, Patch 34, NAC, Getster, Song, MMM, and Promenade. I had no idea that he was into all that stuff.
What I'm looking for is Getster. We need we need GitHub on Noster. It's close, but no cigar yet. I'm hoping Getster, you know, will maybe do that. And I have no idea what the hell is or the m triple m here. But finishing up, consider making a donation to open sets, the Nostra Fund, to support the Nostra protocol contributors. Yeah. I I I highly recommend, doing that. And, again, I think the last time that we that I spoke to you guys on the show, I had mentioned that, somebody else had gotten into the game of granting money to Bitcoin developers, specifically Bitcoin, not Lightning, not Nostred, just Bitcoin.
And what I'm hoping is that open sets will start will allow them to take on a little bit more of the bitcoin development burden. And that way, Open Sats can focus a little bit more on Lightning and Noster, development grants because these things are critically important, and e cash. You know, the e cash stuff, the lightning stuff, the Noster stuff, it that's the only way that this is my opinion. It's the only way that we can stay completely ahead of of the regulatory burden of the state is by constantly coming up with something new. Give them no choice.
Is that's what I'm getting at. We have to give all the governments of the world absolutely no choice but to play fucking ball because they're not going to be able to keep up. The the this landscape is changing so fast. I feel sorry for any country's regulatory schema trying to figure out where this shit's gonna go next. Nobody knows where this is gonna go next. There are so many people that are forfeiting whole treasure, like, lifelong earning potential to work on this stuff because we know if we don't, what comes next? So as more Bitcoin core grants come online, I'm hoping that the people that have been funding Bitcoin core projects start funneling more and more money into the other aspects of this ecosystem because it's going to be absolutely important.
And speaking of, we have Nostrweb services. Yes. You can enable TCP on Nostr. And the implications are huge. Some people think that the entire thing is overblown and completely misunderstood. I'm hoping that this particular release from no bullshit Bitcoin will kind of, you know, I don't know, clear things up for us. Nostr Web Services or NWS replaces the IP layer in TCP transport using noster enabling a secure connection between clients and back end services exit nodes are reachable through their end profiles which are combinations of a Nostra public key and multiple relays.
After several weeks of persistent effort, I'm excited to share NostraWeb Services announced ASMOGO, a s m o g o. That's at and I don't know. I guess that's probably a Twitter handle. Quote, NWS makes your web services reachable without having a publicly accessible IP address or DNS. All you need is an in pub in a set of noster relays. Jesus. A wide range of existing services could be run on NWS without requiring any significant changes. NWS achieves this by establishing a TCP connection between client and server, which can be used by these applications.
Please keep in mind that the software is in a very early stage and not even released yet, added the developer. Let's see. K. So let's see what, Cali has to say about it. NWS works with and without encrypted transport. There are lots of different flavors to explore When used without encryption, the entry node must be run by the user themselves because public entry nodes would be able to listen in otherwise. 2 options in those cases, run the entry node locally in tandem with your unmodified client or skip the entry node and modify the client so that the data is sent through Nostr to the exit node directly the client is the entry node.
When used with encryption. The entry node can also be public. If the encryption doesn't rely on certificate authorities, it just works. You have to make sure that you're talking to the right person, but that problem is as old as computer science. For example, SSH will ask you to confirm the fingerprint of the server when you connect. If the encryption is HTTPS and the certificate was issued for a normal domain, your browser will complain. Do do you trust the website? And the user will have to say, let me pass, even if insecure without ugly hacks, like issuing your own root certification, for example. I don't know very many ways to circumvent this.
Note that Tor services doesn't support HTTPS, and they don't have to since transport is always sphinx encrypted, even hidden from the entry node. So maybe maybe we have it. Maybe this is cracked. And so basically, this is the Internet over the Nostra protocol. We've been relying on TCP IP for as long as anybody listening to my voice has been using a computer. Not not technically that's not technically right. When Netscape first dropped for Windows 3.1, Right? And and Mac. And then after that, Microsoft got into the game with their browsers. But when we started using web browsers, that's when you started relying on TCP IP almost entirely. And it wasn't very long after that that phone calls, almost all phone communications, are are now on the Internet on the TCPIP layer, like AT and T, Sprint, you name it.
They're they're really not running over the old, switchers that they used to use. They're all running over TCP IP. So when I'm connecting to a website with 1 of my brow to a any website, like, I don't know, drudgereportdot com, which I don't actually go to anymore, but I did. I I was a big drudge addict for a long, long time. But when I was connecting to that, certificates were issued. Are you sure you wanna go to this website? You know, the questions are always around, is my connection to this place secure? And is the place that I'm going to really the place that I want to go to? Is this where I is is the data coming through the data that I actually want and not somebody spoofing to, I don't know, infect my computer with some kind of virus?
So what we've got here with Nostra Web Services is it looks like they're basically saying we don't have to use DNS and we don't really have to use the leg you know, most of the legacy stuff the way that it's being used today. We can replace the good guts and feathers of it with what's going on in the Nostra protocol. Now if that's true, then I I don't even know what the implications are at this point. It it it's amazing. First of all, I will say that, is that if we don't have to rely on DNS and all the rest of the gatekeepers that are out there, then the web becomes free.
The web becomes what all the people that helped develop the web said we lost. Like, Tim Berners Lee is one of the people saying that we've got to rebuild the web because we screwed it all up. And I have always thought I don't think that that's necessary because all the web is is just a series of data connections. How we handle those connections gets us into trouble, like getting booted off of Twitter, you know, getting canned from Instagram or not being able to see websites, in Europe because the European authorities are able to block it because they have control of TCPIP, but they don't have control of Noster.
So if this Noster web services is correct and it actually works and it continues to be worked on, then this could be what unleashes the World Wide Web the way that we always thought it could be. Now with that said, I'm going to finish this episode off with a little bit of bumper music. It's coming. It's crappy bumper music, man. You know why? Because it came on the actual Rodecaster Pro 2. On for you guys that actually wanna do audio production or or something like that, I got it. I gotta say, the RODECaster Pro 2 is actually pretty damn cool, man. It it works out of the box.
It does everything I need it to do. It connects to a computer. It that way, I can just have the way that you're gonna get this shit, I'm just gonna be able to put this whole thing onto my computer, and it's going to, like, turn it from a WAV file into an MP 3, and you're gonna get it. And it's gonna be great. But like I said, lots of bumps. I've you know, it's it's I haven't really ever gone mobile before. So please do me a favor. Bear with me. Also, another plea. I do not have access to all of the websites that I usually have access to yet. Will you do me a favor? And when this drops, grab the fountain link or whatever link on your podcast app is and send it around the horn.
Get just drop it into a note. Say, hey. You know, listen to this. It's Bitcoin. And, he's still alive. He's not dead. He's up at the Colorado compound. And if you do that for me, I would really appreciate it because I'm sort of trying to get my feet wet up here. It's been a busy busy ass week. A lot of driving. A big flat tire in Salt Lake City really threw us for a loop. So if you would do that, I would appreciate it. And I will see you on the other side.
Introduction and Setup Challenges
ProtonMail's New Bitcoin Wallet
Mt. Gox Bitcoin Movements
Ferrari Accepts Cryptocurrency Payments
Trump's Treasury Secretary Speculations
Polar Version 3.0.0 Release
State Chain JS: A New Development
OpenSats Grants for Fiatjaf
NostrWeb Services: A New Internet Layer
Conclusion and Final Thoughts
