Join me today for Episode 905 of Bitcoin And . . .
Topics for today:
- Robinhood Buys Bitstamp
- US Pres can Block Digital Asset Use
- Binance Takes Mastercard Again
- BTC Miner Buys ASIC Designer
- HRF 10 BTC Donation
#Bitcoin #BitcoinAnd
Circle P:
https://primal.net/p/npub1ugnq57hn8va6xqr5zywy2eunem6c624583vkt0dmv40ep7tnnxkqrr898l (faster)
email: [email protected] (slower)
Product: Comfrey
One full root for 20$
Or root cutting for 1$ each
Buyer pays shipping
[[Episode 726]]: https://fountain.fm/episode/15491737864
Music:
The Protaganist from
The Sheer Magnitude Of it All by
Death by Lions
https://wavlake.com/track/edc7c3fa-4b4b-45aa-bbea-a93f0e2162d9
The King Ranch Donation Page:
https://www.givesendgo.com/Kingranch
Articles:
https://archive.ph/WLeht
https://cointelegraph.com/news/new-us-law-block-digital-assets
https://primal.net/e/note1gp79egt85qrhf855hscd6put2vqpkprxyvynvuzqkcm4ezetf4asmtn5ku
https://cointelegraph.com/news/binance-visa-mastercard-crypto-purchases-resume
https://www.coindesk.com/business/2024/06/06/bitcoin-miner-bitdeer-to-buy-asic-chip-designer-desiweminer-for-140m-in-all-stock-deal/
https://decrypt.co/234046/bitcoin-runes-mint-invalid-leeroy-jenkins
https://www.coindesk.com/tech/2024/06/06/decentralized-exchange-sushiswap-goes-live-on-bitcoin-sidechain-rootstock/
- https://www.cnbc.com/futures-and-commodities/
- https://www.cnbc.com/bonds/
- https://dashboard.clarkmoody.com/
- https://mempool.space/
- https://fountain.fm/show/eK5XaSb3UaLRavU3lYrI
https://primal.net/e/note1339e6lvjwlt6xp6jky2aj08np3yfjp4zqj69w55s5e9uhgf9v8rs4lv0la
https://www.nobsbitcoin.com/btcpay-server-v1-13-2/
https://www.nobsbitcoin.com/hrf-bitcoin-development-fund-13-grants/
https://www.nobsbitcoin.com/nigerian-banks-to-collect-social-media-handles-for-kyc/
https://www.nobsbitcoin.com/opencash-associaction-launched/
https://www.nobsbitcoin.com/core-lightning-v24-05/
Find me on nostr
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6389be6491e7b693e9f368ece88fcd145f07c068d2c1bbae4247b9b5ef439d32 (Hex)
Twitter:
https://twitter.com/DavidB84567
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Music by:
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Licensed under Creative Commons: By Attribution 3.0 License
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Find the Bitcoin And Podcast on every podcast app here:
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Find me on nostr
npub1vwymuey3u7mf860ndrkw3r7dz30s0srg6tqmhtjzg7umtm6rn5eq2qzugd (npub)
6389be6491e7b693e9f368ece88fcd145f07c068d2c1bbae4247b9b5ef439d32 (Hex)
Twitter:
https://twitter.com/DavidB84567
StackerNews:
stacker.news/NunyaBidness
Podcasting 2.0:
fountain.fm/show/eK5XaSb3UaLRavU3lYrI
Apple Podcasts:
tinyurl.com/unm35bjh
Mastodon:
https://noauthority.social/@NunyaBidness
Support Bitcoin And . . . on Patreon:
patreon.com/BitcoinAndPodcast
Find Lightning Network Channel partners here:
https://t.me/+bj-7w_ePsANlOGEx (Nodestrich)
https://t.me/plebnet (Plebnet)
Music by:
Flutey Funk Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0 License
creativecommons.org/licenses/by/3.0/
[00:00:00]
Unknown:
Good morning. This is David Bennett, and this is Bitcoin and, a podcast where I try to find the edge effect between the worlds of Bitcoin, gaming, permaculture, podcasting, and education to gain a better understanding of all. Edge effect is a concept from ecology describing a greater diversity of life where the edges of 2 systems overlap. While species from either system can be found at the edge, it is important to note there are species in the overlap that exist in neither system, and that is what I seek to uncover. Uncover. So join me in discovering the variety of things being created as Bitcoin rubs up against other systems. It is 9:30 AM Pacific Daylight Time. It is the 6th day of the 6th month of the year, 2024. And this is episode 905 of Bitcoin, and the circle p is open for business. The circle p is where I bring plebs like you to plebs like you, but they have goods and services for sale in Bitcoin. If they're not selling it for Bitcoin, they're not in the circle p.
I am really going hard on promoting XiXi and his confre. If you don't know what confre is, just think of it like this. It's a magic plant. What you might as well ask what it can't do instead of what it can do. I mean this thing is a medicine, it is a mulch, it is a biomass production unit, it is infinitely divisible, it is drought tolerant, I don't know, man. There's all, bees love it. There's like 50,000 different things about this plant. And if you wanna know more about why you want this plant in your yard, if you're anywhere close to oh, I don't know. I think the only place that it wouldn't grow is in the Arctic Tundra.
So if you're not living in the Arctic Tundra and you want a plant that does all kinds of magic spells for you, well, Confrey is for you, and you're gonna find out more about it in episode 726 of Bitcoin and that's 726 of Bitcoin and I'll have a link in the show notes, directly to the, fountain page the fountain app, page for that one. I highly recommend it because I go into all of why it is that you want this plant, the history of it, all the stuff that it can do. It really is an amazing thing. And if you wanna buy root cutting so that you can have some of these of your own, you're gonna get a hold of she she [email protected].
That's s h I s h I, the numbers [email protected]. I will also have his Noster Impub in the show notes, and it's a link directly to I think this one is a link directly to the primal. So even if you don't use Noster, if you click the link, you'll it'll pop up a Noster Noster client for you. It's just a web client, so it'll go right to it and you'll see she she. And if you're smart, you'll spin up an insect and an n pub, a couple of, you know, private public key pair, and start getting on Nostra and get off of the hate machine that is Twitter. Honest honest to god, you don't wanna be there. I'll get to that in a second.
One full root cutting for $20. It's this thing is gonna grow fast and it's gonna grow really really well. The root cuttings are a buck a piece. I recommend getting 20 of them. You're gonna pay shipping. And if you mentioned that you heard it here on the Bitcoin and podcast in the circle p, she she's gonna cut me in for some of those sweet sweet satoshis. And he is selling it for Bitcoin because, like I said, if you're not selling it for Bitcoin, you're not in the circle p. Alright. So getting back to the hate machine. Yesterday, I went over there to do something. I I'm act oh, I know what it was. I checked my, DMs because that seems to be where, you know, a lot of people clearly, millions of people are still over there.
They're not just gonna all flood into Noster. I and, honestly, we're not ready for that stuff anyway, but it is a hate machine. That's a real big problem. I mean and and here's what I mean. I went over there to go check out something in my d m's and before I got to my DMs I saw somebody had posted a video of a guy that had just discovered that his dog had been shot by a sheriff's agent. Wasn't even really I don't even think I think it was serving a warrant, so he was sort of like a contractor for the sheriff's department. Shot and killed this dude's dog trying to serve a warrant on the on a wrong property.
And the thing about it was is that I was almost almost instinctive to hit that play button, which I did. And I'm listening to this thing. And this guy crying and his wife crying. And I mean, he's yelling at this dude to get off his property. And it's just and what I realized was that it doesn't matter that this guy killed this dude's dog, which is horrible. It's that I'm kinda done with that whole world. And if we're gonna build something new, we're gonna have to stop steeping ourselves like a fucking teabag in hot water.
We've gotta stop doing it. Right? So when you go buy comfrey from Shishi, please consider using the link in the show notes to go to primal.net and go in directly to XiXi's profile and interacting with Noster the right way, which means you spin up and once you get there, I if you have any problems, just get in touch with me. Okay? I'll I'll try to help you out or I will direct you to somebody who can. You can get a hold of me through, like, give throw me a boostagram on fountain app when you're listening to this and I'll I'll see what I can do. But at least give it a shot. You owe it to yourself to not have to see videos of Sheriff Contractors serving warrants on the wrong address and killing somebody's dog.
You won't see that on Noster because we don't give a shit about this world anymore. We need to leave it behind. Okay? We're entering a new world, and it's being ushered in by the likes of, god forbid, Robinhood. Yeah. The big news of the day from Fortune Crypto. Robinhood has bought Bitstamp in a surprise $200,000,000 deal. Jeff John Roberts is writing this one. Robinhood announced on Thursday that it has acquired Bitstamp. No. It they they it's already done. This is a done deal. Right? They're not talking about it. They're they've already talked about it. The deal is signed. Robinhood has bought Bitstamp, one of the world's oldest cryptocurrency exchanges, in an all cash deal expected to be worth around $200,000,000, which I think is actually rather cheap, personally, but whatever.
The acquisition, which is expected to close in the first half of next year, 2025, will advance one of Robinhood's strategic goals by expanding the company's presence in overseas markets. So the rest of it is sort of a history of Robinhood and what's going on and bit and the history of, Bitstamp and where it started, and we don't really need to know that. But here's the thing, I kind of I mean, we we definitely know that we're in the then they fight you stage. We know that. But are we now in the then they buy you stage at the same time? So this is this is a really weird dichotomy. We've got Robinhood is a United States company.
And we have we have a congress that half of them seem to really want Bitcoin and the rest of the the crew to, you know, be able to work in the United States. We've got the other half that doesn't. We've got an an executive administration that really doesn't seem to want this shit. We've got a regulatory situation that also doesn't seem to want any of this. And but yet Robinhood buys Bitstamp. So which one is it? Who's going to win? We've got ETFs being held by some of the largest funds in the world. We've got Robinhood buying an old one of the oldest crypto exchanges that there is. It's a very confusing landscape to navigate. Let's just let's just say that it's a very confusing landscape to navigate. But it does seem to suggest that these guys are just full bore the private sector is full bore going for it.
They're gonna go for it. They've been going for it, and they just seem to say, damn it. We don't care if you're gonna sue us, if you're gonna throw us in jail, if you're gonna regulate the living piss out of us. It doesn't matter. We're going to go forward. Maybe we'll ask, you know, for for, I don't know, grace later or something like that? Where you you just do it and you ask for you apologize later. So it's one of those things. I I just I think that this is a significant purchase even though I'm not a fan of Robinhood. I don't use exchanges, but I cannot not see the fact that one of the largest yet newest of what we would call the legacy finance world has acquired one of the oldest and longest running Bitcoin exchanges that there is.
I can't unsee that. I think that this is an important step. Not exactly sure how it's gonna play out, but we'll I guess we'll soon find out. Moving on, a new law has granted the United States president the power to block digital asset access. And I really hope Josh O'Sullivan lines us out on what the hell's going on here in coin telegraph.com. A new law grants the United States president sweeping powers to block access to digital assets, drawing significant concern from commentators on Twitter. Scott Johnson, a prominent voice in the digital asset field criticized the law for its broad scope on June 6th stating quote it's hard to see how this isn't intended to be a user level band power by the President on any protocols slash smart contract that's dreamed by the Secretary of Treasury to be controlled, operated, or made available by a foreign sanctions violator.
Breathtaking scope and implications to corral users to KYC slash permissioned chains. End quote. A Twitter user posted Mark, senator Mark Warner's apparent strategic insertion of legislative elements on June 5th labeling the scrutinized new sweeping powers granted to the US President over digital assets. The new law broadly defines digital assets encompassing any digital representation of value recorded on cryptographically secured distributed ledgers quote Any communication protocol, smart contract, or other software deployed through the use distributed ledger or similar technology and that provides a mechanism for users to interact and agree to the terms of a trade for digital assets end quote.
Under the new law, the President can block transactions between US persons and foreign entities identified as supporting terrorist organizations. This includes imposing strict conditions on foreign financial institutions maintaining accounts in the U. S. If they are found facilitating such transactions. Prohibit any transactions between any person subject to the jurisdiction of the United States and a foreign digital asset transaction facilitator identified under paragraph 1. Johnson's analysis suggests that the law's broad applicability could compel users to join know your customer compliant and permission blockchain networks, ultimately limiting them to regulated blockchains.
He warns that the move could be seen as an effort to exert control over digital assets under the guise of combating terrorism. The elements allegedly added by Warner, or Warner, enabling the presidential empowerment are borrowed from the, quote, terrorism financing protection act or prevention act. Sorry. The terrorism Financing Prevention Act. The act was introduced in a December 2023 announcement allowing the United States Treasury Department to go after emerging threats involving digital assets. All I can really say about this, given what we're reading here, is good luck. Good luck.
I'm not going to voluntarily give up my Bitcoin. I'm not going to sell it and move over to a government regulated blockchain. It's just not gonna happen. Maybe I'll go to I don't know if I go to jail or not. I don't care at this point. I I none of these people are speaking for me. It's very clear that none of these people want me to have any kind of future whatsoever, so fuck them. I don't care. But it's what they're suggesting here, I'm never going to comply. I'm never going to stop running my full node. I'm never going to stop running a Bitcoin or a Lightning Network node. I'm never going to use any kind of custody that is not my own self custody under my own private keys, which only I hold. That'll never happen. I'm just not gonna do it. So I don't know what's what b is under this Warner's bonnet, but I honestly I'm I'm way past caring what the implications if I do not comply with people who I do not respect are. I just don't care.
We'll have to see what happens later on down the road. I honestly think that if anybody, anybody gives up their custody, then you deserve exactly what you get. You may not be in prison, but you're just gonna be in another kind of prison. It will be a financial prison, the likes of which you you might actually want to go cool your heels in a federal penitentiary compared to the financial terrorism that is being wrought upon the American people and, generally speaking, the people of the west at this moment of time. So if you wanna go do it, have fun staying, I don't know, whatever. So Gigi, dir Gigi, put up a rather cryptic, note on Noster. And again, if you're not on Noster, why?
But he says, and I quote, Noster is just a Twitter clone, end quote. And then he's got, you know, Noster, colon. And then he has a video of of text that's scrolling. And what basically he's doing is he's at a he's at a command line interface. I presume that it's Linux on some Linux box. And at the command line he types in zapstore install bitcoin core. And then zapstore, I guess, which he's communicating with comes back with a message and it says installing Bitcoin Core 27.0. Okay. Whoop dee doo. Whoop dee doo. Right? So what? You that I mean, this you might as well you you could be doing this from GitHub.
But there's a catch, and here it is. It says, after it says installing Bitcoin Core. It says, please input your n pub. Now for those of you who are not on Noster, your inpub is your public identity. Essentially, that's your handle. If you can like on Twitter. Right? Mine's, like, I don't know, David Bennett 829046 or something like that because I've never gotten around to changing it because I kinda just don't care about Twitter anymore. But, it's your handle. That's how you get a hold of other people. Alright? So it says, please input your in pub. Except that g g just puts in this in pub and it's not g g's in pub. I went and checked. I can I can tell?
So there's a little bit of confusion here. I want Gigi to come back and really outline what's going on here. But here comes the big part. And this is what I think what leads me to believe what I think is going on. It says, calculating web of trust after gg puts in this input. And then after that it says gg comma LSAT comma Derek Ross comma Odell comma Leo Wanders Leb and others follow this signer And then it gives a list of all the actual inpubs of each one of those individual people, including Gigi, And it really is Gigi's nPUB in this list of nPUBs behind all of these names in this web of trust calculation. And then it says, are you sure you want to continue?
Yes or no? And then Gigi says yes, and then installs. So here's what I think is going on with this. Nostra, in this particular case, is being used as a web of trust slash reviews on installing a package that was put up by a particular inpub. And you can put in that inpub as the person that you think gave you that package. Right? Like, so if I go download something from Zapstore, there's an inpub associated with that of the developer or rather the maintainer of that particular application. So I put in that inpub and then it goes through and it says, look, I'm gonna go find all the in pubs that follow this and I'm gonna compare it next to the people that you follow. And if they're the same, I'm going to give you the list of the top people that you both follow. The guy that does the maintaining of the application that you're about to install and yourself.
And you can make a determination if you can use that calculation as to whether or not you trust this individual. So he says yes because he's following a lot of quality people that the same maintainer that he's installing from is also followed by. So that gives a a level of that there's other people that think this guy is completely above board. So Noster now turns into not just a digital identity. It's not just social network. It's a way to essentially review an installation package that you're about to put on your machine and use those reviews as a substantial way to guarantee the safety of the or not guarantee, but to come close some degree of guarantee of the elements of safety of the package that you're about to install because you're pretty sure that the guy that you're getting this from is the same guy that you yourself follow and a whole bunch of your friends follow.
So there's this element of trust. There's an element of review that's going on here. That you should not dismiss that. The way that Nostra is being used in all these different and completely particular ways that has essentially not a whole lot to do with quote unquote a Twitter clone should wake you up. If you're not using Nostra, you really need to learn how to use Nostra. It's not like it's difficult. There's a little bit of different stuff that goes along with it. I get it. I understand. But it's not all that difficult. And you're really doing yourself a disservice if one of these days you get booted off of Twitter and you got nowhere else to go and you didn't learn how to use you the Nostr, well, now you're gonna be really wanting to learn how to use Nostr and you could you could have just done it today. You could have just figured that out today, claim your name space, and get on with this.
Because this kind of thing where we're finding out different ways to use Nostra is never gonna stop. There's so many different ways that we can use this protocol. We haven't uncovered a fraction of a single percent of all the stuff that we can do with this thing. And and where are you? Are you sitting on the sidelines, sitting on your hands, just, you know, waiting for something to happen before you, quote unquote, have to get into this? I highly recommend not doing that. You need to go check this stuff out now. Okay. So moving on, Binance reinstates crypto buys via Mastercard.
Binance has resumed allowing its users to purchase crypto using Mastercard. This is gonna be interesting. Zoltan Vardai from cointelegraph.com, The world's largest cryptocurrency exchange will once again allow its customers to purchase cryptocurrencies using Mastercard. Binance has resumed those purchases via bank transfers using Mastercard debit and credit cards for smooth transactions. According to a June 6 Twitter post, on the Binance platform, the quote, buy crypto via Mastercard have been re enabled with a maximum onetime purchase of up to €5,000 worth approximately 54100 dollars for euro based transactions and up to 20,000 US dollars for United States dollar based purchases.
The world's largest crypto exchange plans to add more regulated fiat payment providers in the future for more intuitive crypto purchases. A Binance spokesperson told Cointelegraph, quote, Binance continues to invest heavily to ensure it meets the highest standards of compliance. Jesus. If you know anything about Binance's history, that's laughable, but whatever. Following an extensive review of the rigorous controls and processes that Binance put into place, Mastercard made the decision to allow Binance related purchases on its network, end quote. That ain't the only people that allowed that.
Mastercard is also heavily regulated by the United States Financial Regulatory Community. Somebody said, yes. You can do this. Because I guarantee you, Mastercard shut this crap down for for Binance because they didn't wanna have anything to do with the regulatory scrutiny. So they either got a letter or a phone call or they asked permission or something. And now this is all above board. So after cz is gonna be cooling his heels for, like, what, all of 4 to 7 months, Now all of a sudden, a major player in legacy finance, as far as credit card companies and corporations are concerned, has re enabled Binance to use their services as a payment rail to buy Bitcoin and the rest of well, and the shitcoin field.
Again, like the Robinhood buying Bitstamp, I can't unsee this. So where is this all going? I think that I think I I I'm almost about to say that the then they fight you phase is gonna be a little bit shorter than I think. Now I say that knowing full well that I could very well be wrong, but there's something about these news stories today that my gut feeling is starting to say, we might not have a then they fight you phase as bad as we all think thought it was gonna be. I don't know. But one thing's for sure, Bitcoin miner, BitDeer, is going to buy an ASIC chip designer named Desi Wine Wymaner?
Desi Wymaner? For a $140,000,000 in an all stock deal according to CoinDesk's Jamie Crowley. BitDeer has agreed to acquire Desi y Wayminer. Desi Wayminer. That's a weird name. Desi Wayminer, a designer of chips for ASIC Mining Machines in an all stock transaction worth $140,000,000. BitDeer agreed to acquire all outstanding shares in the company for a consideration of 20,000,000 class a ordinary BitDeer shares on June the 3rd according to an announcement on Thursday. The acquisition is subject to customary closing conditions. The Desi Weimer team will team will join BitDeer's ASIC design team in Singapore and products featuring the integrated technologies of the two entities are slated for immediate release.
BitDeer received an investment worth $150,000,000 from stablecoin company Tether at the end of last month. I guess they used that to buy this thing. BitDeer shares showed little initial reaction to the announcement, rising a mere half percent to $7.5 in premarket trading. So now we got a mining company that's bought an ASIC design, company. This should be interesting. I I I mean, this you're gonna see more and more of this. And here's what's here's what's really weird. If you've got you've got Bitcoin miners, they have connections directly to 2 completely separate industries.
They themselves represent the Bitcoin industry. We get that. But and the easy one is that, well, yeah, of course, ASIC design, you're gonna need chip designers. So those are are close, but you're gonna see that you're gonna see the collapse of chip asic chip design into directly into bitcoin mining companies. But who else is connected there? Energy production. Oil and gas, solar, wind farms, you name it. Any kind of energy production, whether it's green or fossil fuel, is directly connected to Bitcoin mining, and it never will be disconnected at this point. They're it's too intertwined. So now you've got a tripod, which is the most stable seat you can have.
Right? A chair with 3 legs is the most stable form of chair that you can have. So you've got energy companies, you've got Bitcoin Mining Companies. And you've got ASIC Chip Design. So now, ASIC Chip Design is directly integrated into energy production. Will anything drop out of that relationship? I don't know. But this is a this is a network that's forming that, again, I cannot unsee this. I cannot unsee ConocoPhillips, you know, like ASIC Mining and ASIC Design. I can't unsee the fact that they are now all gonna cozy up together. And we should be looking very hard at what this actually means.
Okay. Bitcoin users just wasted $100,000 on invalid. Jason Nelson from decrypt. I wonder what laughable assholes got their butts handed to him today. Nearly a $100,000 in BTC was vaporized on invalid Rune Protocol mints according to Bitcoin ordinals and Runes explorer ordi. Io or ord. Io on Wednesday. The specialized tracker tweeted that 1.365 BTC worth approximately $97,000 was lost by users attempting to mint Rune 777, also known as Leroy Jenkins. Runes is a fungible token. Yeah. Well, I guess I'll tell you in case you don't know. Runes is a fungible token protocol on the Bitcoin network that lets users, quote, etch and mint tokens on the world's largest blockchain.
Pausing to say it's a scam. Please don't engage in runes, ordinals, inscriptions, or anything of the like. You're just gonna be a sad puppy at the end of the day. Continuing, quote, the way runes minting works is there is a mint window in which all Rune's minting transactions are valid, pseudonymous Ord cofounder Leonidus explained to Decrypt. For example, from block 840,000 to block 841,000 towards the end of every run's mint, people rush to get their mint transactions mined before that window closes. In the above example, Leonidas explained if a mint transaction was mined in block 841,001, the collector would have paid the network fees but get nothing.
Nothing. Quote, if you fail to get your transaction in there, you lose your BTC and you don't receive the runes. This is just how the protocol works, Leonidas said. Toward the end of popular mints, he added, demand for minting outpaces the supply of space in a blockchain block. According to the Ord website, Leroy Jenkins has a max supply of 69,400,000 and currently has 1,350 holders. Of 57,850 completed minutes, 276 were labeled as invalid. Invalid out of 57,000. 256 times people just lost their their bitcoin. And those disappointed mentors have no recourse. Of course not, because it's bitcoin.
Bitcoin is not aware of the runes protocol and does not have the capability to use logic the way a smart contract would to refund invalid mints. To the Bitcoin network, a runes mint is just a meaningless piece of data. Yeah. And to me, it's a meaningless piece of data as well. Runes do not do not do not engage in this degenerate, reprobative bullshit because it's just going to lose you money. The name Leroy Jenkins comes from the iconic World of Warcraft characters of the same name. The infamous player created by Ben Schultz cost his dungeon party their treasure by reckless recklessly charging into a battle ignoring the plan of attack. Jenkins has since become an Internet meme.
Leonidas said that while runes minting the sites could attempt to help users avoid losing out, there may always be losers. No. There always will be losers because this entire fiasco that is ordinals, inscriptions, ruins, and anything else is just a re re upping of the degeneracy that we saw in the summer, what, 3, 4 years ago where we ended up with SushiSwap? Well, SushiSwap is now back in the news because, yay, decentralized exchange, SushiSwap, goes live on Bitcoin side chain Rootstock. Yay. Jamie Crowley, writing for CoinDesk. Decentralized exchange, SushiSwap, is now live on Bitcoin side chain Rootstock, according to an announcement shared with CoinDesk on Thursday.
Launching in 2018, Rootstock is one of the most established projects aiming to introduce decentralized finance features to the Bitcoin network that are more commonly associated with the likes of Ethereum and BNB Chain. That's all we need to know. Okay? So thank thankfully, it's not directly on on Bitcoin. But here's the issue. It is it used to be sort of where we talked about that everything is gonna be on Bitcoin sooner or later. All the crap that you can do on Ethereum is going to we don't need Ethereum because we can do it we would be able to do it on Bitcoin. We don't need Solana because of the same reason. We don't need BNB because of the same reason. Hell, most of the people are actually saying, we don't even need really stable coins because we now we can, quote unquote mint a stable coin directly on top of Bitcoin because of that bullshit like rude rudinals.
Don't know. We'll just call them rude rudeinals. Actually, that may be a good title. Hold on. Rudinals. Alright. That's happening. We're we're watching it happen. And I think what's gonna happen first is it's gonna be like a Bitcoin milkshake, like the dollar milkshake theory. I'm looking at milkshake at at Bitcoin milkshake theory here. There are there are chains and blockchains out there that are very close to Bitcoin in the way that it's architected. Rootstock is kind of one of them. They're also considered the oldest, blockchains that are a lot like Bitcoin but are clearly not exactly Bitcoin.
And you got stuff like Monero, Zcash, in this case Rootstock. And there's a couple of other ones and they sort of like in the in in more of a closer orbit in Bitcoin than the rest of this crap. Now it's still crap. Don't get me wrong. But I think that what's gonna happen is that all of these, quote, unquote, great things that you can do on on Ethereum and all this other garbage that's out there is going to first come to a small group of blockchains that are very, very close to Bitcoin, like Rootstock and Monero and z Zcash and all the rest of them, the old the very oldest chains.
And everything is gonna collapse into those guys first, and then those guys are gonna end up collapsing into Bitcoin. And my gut feeling is that it's going to cause a it's gonna cause a mess. We'll get through it. We always do, but it's gonna cause a mess. But it's true. We don't need any of the rest of this garbage. We we never did. All of this can be done on Bitcoin. And I heard somebody say the other day, oh, it was too hard to program on bitcoin. I'm sorry for you. There's a lot of people that that say that it's too hard to program in c and they would rather use Python. Okay. That's your choice. That that's fine.
But what I don't hear from those same people is, like, is that they're complaining about c. They just say I prefer Python or I prefer being able to do something in whatever other language. They they they they pick their language. Same thing here, except people complain about it. I heard somebody you know, like, the the person I'm talking about was, like, saying I was, like, they they haven't been working on Bitcoin because it's just it's just too hard to program on it. Well, you should have learned how to program on Bitcoin because everything is going there anyway. It doesn't really matter. We've got numbers to run. CNBC Futures and Commodities. I got oil is actually up today, almost 2 full points back to 75 and a half dollars. Brent Norsee is up 1.73%.
Natural gas up point 15. Gasoline is up. Oh, uh-oh. Here comes summer driving season, y'all. 1.67 percent to the upside. Now clocking in at $2.39 a gallon. Shining Metal Rocks having a very good day. Gold is up 0.6. Silver is up 4.26. Platinum is up 1.15%. Copper is up 1.5. Palladium tanking 1.5 percent to the downside. Looks like lumber is our biggest win no. Chocolate is our biggest winner. Cocoa was up 5.43%. Most of ag is actually in the green today, which is odd. Biggest loser today is wheat. 0.39% of the downside. Live cattle is down 0.18%.
Lean hogs are up 0.7. Feeder cattle are down 0.7. The Dow is up, but only moving sideways, honestly. S and P is down a quarter of a point. Nasdaq is down 0.14. S and P Mini is down a half. Clark Moody's dashboard clock in Bitcoin at $70,790. That is a $1,400,000,000,000 market cap. There are you can purchase if you so choose 30 ounces of shiny metal rocks with your 1 Bitcoin of which there are 19,000,000 708,421.12 of, and fees have gone up. Yes. They have. They've gone up very, very hardcore wise. 0.58 BTC per block on average in fees. So that's quite a bit different than the 0.23 that I'm used to seeing. So, yeah, fees have gone up. And speaking of blocks, how many blocks are there? There are 238 blocks carrying 331,000 transactions waiting to clear at high priority prices of 62 satoshis per vbyte. Yeah. Yeah. I'm telling you, man. 48 satoshis per vbyte is low priority, and anything under 7 a half are getting kicked out of mempools around the world.
Mining has dropped drastically to 501 x of hashes per second. Not sure exactly what that means. Hold on. When's next having no. I mean, sorry. I'm looking for the difficulty adjustment. Was do we have another? 14 days. Oh, we just got a difficulty adjustment. That's why the hash rate is down. It always does that. Okay. So now from episode 904, banning cats, Nat gas immersion boosted me 20,000 satoshis. Thank you, sir. User 749-39891 with 10,000 satoshi says boosting is loving. I believe that is Ainsley Costello's mom who I was in contact with, on Twitter, that was one of the people I was trying to get a or that was getting a hold of me, and we were talking on DMs as to whether or not it was working. I e, was it actually pass were the sats passing through given the time split that I had set up for Ainsley Costello's song, People Pleaser. And it does look like it it it is. That it finally is actually working.
But the day before yesterday or when yeah. The day before yesterday, Albie Wallet was having some serious issues. So Albie Wallet was completely broken right right when I released that episode. So a lot of the first, boost did not come through, but they did come through later. So hats off to Alby for keeping tabs on what was going on during their downtime and making things right. Because the people that did boost, Ainsley Costello during her portion of the podcast, she she got those. Okay? So, not to worry. You don't have to reboot. They finally came in but it took like 6 hours to clear up. Joey Delodge with 3333 says, boost. Dubravco with 17.90 says, great song zapped to the artist.
Blogging bitcoin with a 1,000 says, I'm boosting the bitcoin and podcast. But the sats get sent to Ainsley Costello, yet most Bitcoiners still think Noster is boring. And Ainsley Costello actually herself replied to that said, Noster is the opposite of boring. Thanks for the support. Blogging bitcoin with a 1000 says, the ticket bot thing is awesome. Yeah. Damn right it is. Pies with a 1000 says, thank you my friend. You made my day for calling me out. Good. Good. User 749-39891 with a 1000 says, ticket bot. It just makes sense. Kenneth Lloyd with 500 doesn't say a damn thing.
And 02ZX says, with a 500 sat says, still boosting on the web here. Ainsley Ainsley's tune is alright. Pleased to see more musicians using zaps in 2024. We gotta keep this momentum for the artist. Appreciate all of it. Ainsley Costello, replied to that as well. Pay Psyduck with 420. Gracias, senor. Oh, thank you, sir. Pye's with 420 says, this is for Ainsley. Pye's boosted another 420 saying, thank you, sir. Wartime with 420 says nothing. Joey Jo Joe or Joseph Joey Jo says with 420 nothing. Jim Leahy with 300 says, phew. Still kicking ass, I see. Yeah. Well, I hope so. God's death with 237 says, thank you sir, no thank you. Party Koch with a 100 says nothing.
And FOMO Metronic. I've got a bone to pick with you, pal. Even though you did pay 100 sats for this, when you say things like this song is shit and I wanted to pay just to get my words to the artist. Now, if you actually meant to write this song is the shit, the shit, and I wanted all that, the rest of it, okay, I'm good with that. But it really looks to me like what you said was that this song is shit. Was there no way that you couldn't have kept that to yourself? I mean, this this this girl's trying to, you know, she's she doesn't need that.
If anything, she needs encouragement. I mean, that's our I mean, what are we doing? What are we doing? FOMO? Is that is that really the legacy that you wanna leave? Is is telling a 16 year old girl that her song is shit? Is that really the attitude that you wanna take going forward considering all the bullshit that we have to deal with from people that don't like us anyway? Do we have to be this nasty? I'm saying please reconsider. Please reconsider when you say stuff like that. Think before you say stuff like that. Because Ainsley comes back and says, it's all good. Thanks for spending a few sats on me and the movement to which Chad F. Says sats are sats and Alan C. Paul says, you're a class act, Ainsley. And she is. Because she was able to take a comment that basically called her art shit and step right fucking through it.
Good for you, Ainsley. It's really sad to see, but that's the weather report. Hey, let's get some music. I guarantee there'll be a way to run. It's gonna be alright. I can't promise Alright. That was the protagonist from the album, the sheer magnitude of it all by the band named Death of Lions. I thought that song was actually pretty cool myself. I haven't heard good music that I can play without getting sued by ASCAP or BMI or somebody in a very very very long time. I used to play music on the, on this program all the time, but then I realized, it's like, dude, you you don't have permission to play any of this crap, so I just stopped. But now with things like Wave Lake and being able to boost, your the people songs and whatnot like that, with podcasting 2.0. If you're not using a podcasting 2.0 app, you need to start, and you need to start today.
I've been able to bring music back. And that one, as I did with Ainsley Costello's, I'm going to put a time split into, into right there. Like, essentially, the time split allows me to when you boost this program, during certain times, all of the SATs go to me except during other certain times where I set up a time split. During that particular time, your satoshis will bypass my wallet and go directly to whoever else's wallet I choose and I'm going to put their wallet during the time of their song as the recipient of any sats. So if you were boosting during that song, I did not get those Satoshis.
And I am happy to give them over to the people that are allowing me to use their music for this program for your entertainment. Now welcome to part 2 of the news you can use. Wallet of Satoshi is still alive. It's just not being able to be used in the United States. But this is what's funny. Wallace Satoshi put out a note on Nostra that says and it's got, like, a small video. It says, what if Square merchants could receive BTC via lightning with their wallet of Satoshi point of sale and it instantly appeared as a Square payment. It would greatly simplify bookkeeping and sales tax tracking. Well, we've got it working.
We'll be looking for some brave Square merchant testers soon. And Jack Dorsey, renoted that out on Noster. And so the video shows a a square point of sale device that you will see that you see in, you know, stores regular retail stores. And this guy's got 2 phones and he sets up a payment on one phone and then he takes a picture of that payment with another phone, passes that phone in front of the of the of the point of sale device for Square, and lo and behold it transmits the information directly over to the point of sale. It it they're not really explaining it all that well as to exactly what's occurring. But the end result is by using the Lightning Network and a Square Point of Sale device, the Wallet of Satoshi guys have made it to where you can just pay with a Lightning invoice directly to a Square Point of Sale device.
I presume that you've got to install something on the point of sale device, but I don't know. I mean, but it's very clear that the Wallace Satoshi guys have got some kind of proof of concept working directly with an actual honest to god square point of sale device. It's, again, can't unsee it. I've seen it, I can't unsee it. BTC pay server version 1.13.2, has been released. It contains Bolt Card plugin, refund reports, bug fixes, and improvements. BTC pay server 1.13.2 is out. This release sets a great foundation for the 2.0.0 release and is only a small glimpse into what is coming next. Quote, as usual, if you got problems, feedback, feature requests regarding the, BTC pay server, feel free to reach out on our community chats on Mattermost or Telegram. So what's new?
Well, the BoltCard plug in. Create, top up, and check BoltCard balances of all from your BTCPay server. A single point of sale device can now not only accept but also issue and top up Bolt cards. BTC Pay is now becoming an end to end solution for Bitcoin economies. Again, can't unsee it. Improvements, there's search, display text filters, and there's some other stuff. But the big one is this bolt card thing. The bolt card plugin for BTC pay server, again, right next to the Wallet and Satoshis guys being able to finagle a point of sale device from Square to accept a lightning payment. This shit is coming so fast. I don't think they'll have time to fight us.
I really I I my gut feeling is now that the then they fight you phase is not going to last anywhere close to as long as we had envisioned, which is a good thing. I kinda like that. Human, rights foundation, Bitcoin Development Fund Grants 10 BTC to 13 Bitcoin Projects. HRF's latest batch of grants focus on education for people living under authoritarian regimes, privacy and lightning development, decentralized communications, and providing nonprofits and human rights groups with easier on ramps to financial freedom tools. Areas of focus include key countries and regions in Latin America, the Middle East, Asia, and Africa.
So the projects that have received financial aid from the Human Rights Foundation are as follows. Robosats, Bitshallah internship prog program, building bridges to Bitcoin, flash, Bitcoin Seoul, that's Seoul Korea, Margo Paes' research, validating lightning signer, open sets, the core, Terry Yu, Palo Sacramento, Blockchain Commons. Oh, nice. Blockchain Commons. And, of course, the summer of Bitcoin. The summer of Bitcoin is a global internship program enabling university students to contribute to Bitcoin open source development and design. So 10 BTC.
10. That's a that's a lot of money at this point. So there there you go. Nigerian banks can start collecting customers' social media handles for know your customer checks, high court rules. Let me read that to you again so you know, kinda know where we're at. Nigerian banks can start collecting customers social media handles for KYC checks. Jeff, just stop using this shit. The Lagos Federal High Court presided over by Justice Demgaba upheld a Central Bank of Nigeria regulation requiring financial institutions to collect social media handles from customers as part of their know your customer procedures.
What? WTF? The justice dismissed a lawsuit filed by Lagos based lawyer, Chris Aake, who argued that the regulation is stated in section 6 a, 4 of the Central Bank of Nigeria Regulations 2023 was undemocratic, unconstitutional, and inconsistent with section 37 of the 1999 constitution of Nigeria. For all it is worth, I do not see how asking a banking or potential banking customer to provide his or her social media handle can ever amount to a breach of privacy, the judge reportedly said. The judge added that requiring a social media handle is compatible or comparable to requesting an email address or a phone number. All these contact details serve as methods for a bank to reach out to a potential customer and conduct due diligence to assess their suitability for banking services. As such, this regulation does not violate customers' rights to privacy.
Per the Human Rights Foundation CBDC tracker, the Central Bank of Nigeria launched its CBDC, the e naira, back in 2021. However, it has failed to gain any meaningful adoption in the last 2 years. Do not give them if you're listening to me in Nigeria, and I've got a couple of people that do, I can tell by the map on Pod home, where people are listening. Don't just don't. Just tell them you don't use social media. Or give them give them, like, your nost you're not yours. Spin up a fake, some kind of like a like a fake insect, something that you're not gonna use on Noster, like the brand new, for lack of better term, an account. Spin one up. Don't ever use it. Post 1 this post once to it that says, I love central banks. And then give them that that, in pub.
And say, this is my social media. And make them use Nostr. Force them to use Nostr. But this is bullshit. You don't need to be giving anybody your social media account. And, honestly, you know, there's a lot of people that just give their real names on social media accounts. I kinda I don't. And I'm because I'm just not using them very much anymore, so I don't care about the ones that I did. Like LinkedIn, my real name's on that one. But Twitter, no, man. It's not my real name. My Twitter account is not my real name. I I I mean, they can figure it out if they listen to the show, but I'm not gonna use my real name for it. But even if, like, if for whatever reason Wells Fargo sent me, like, a a I don't know, like, something in the mail that said, oh, by the way, you're gonna have to give us your social media accounts. I don't have any.
Go fish. What are they gonna do? How are they gonna prove that anything is actually mine? They wouldn't even be able to stumble across it. How many millions of these things that you got to filter through even if you've got computers to do it? I mean, and then it's like, no. It's like, okay, like, used to be mine, but I don't use it. Maybe you got hacked. I don't know. The whole thing is weird. These people are weird and they all just need to go away. I don't know. But on to bigger and better things. The Open Cash Association has launched to support projects building on the CashYou protocol.
CashYou developer, Cali, announced the launch of the Open Cash Association at the Oslo Freedom Forum 2024. This nonprofit organization aims to support the open source development of projects built on the Cashew protocol. So it's Cashew specific. For those of you wondering, Cashew is an e cash protocol that I have I I still I still like it. I do not consider it a shitcoin at this point. That may change depending on how all this runs. But for now I kinda like e cash. It it works very very well. It's completely transportable between the lightning network. It's it's it's brilliant, honestly.
I just hope it stays that way. So, quote, Open Cash supports projects building on the Cash You protocol. We believe that digital cash infrastructure should be free and open source and accessible to everyone. We provide funding to developers through our grants program and we support the broader Cashew ecosystem through our research and events. All projects that we support are open source and free to use. Help us provide sustainable support for Cashew projects by donating to our fund. Your donation will be used to support developers, fund research and organize events.
The Open Cash Association is based in Switzerland and is governed by a board who have earned a strong reputation in the field of Bitcoin and Chaumian e cash systems. Strike is going to kick it off and contribute $100,000 to get it started for Cali, announced Jack Maurer's founder and CEO of Strike, said during the announcement, you can learn more about the Open Cash Association or donate to its fund at open cash dot dev, dev. That's open cash dot dev. So you can go over there and check it out, but this is cool. Finally, core lightning version 24.05, the infinitely divisible satoshi. We are pleased to announce the version 24.05 release of core lightning, code named the infinitely divisible satoshi.
Highlights for users. New runes. Remember we're talking about runes? New rune run restrictions can now be applied to invoices with the PIV restriction. So, I guess you can filter out runs and and that kind of stupid crap. Documentation is more thorough, there's stability fixes, there's increased file descriptor limits, there's prune node operation being better and supported. Highlight for developers, we won't get into that. Highlight for the network. That looks like that's about it. So, yeah. I don't know why they called it the infinitely divisible satoshi. That almost seems like they've got something up their sleeve because it's been, you know, theorized that here here's the thing about divisions of Satoshis, like half a Satoshi instead of just one.
The way the Bitcoin main chain protocol works is this. When we say that, let's say that we go all the way back to well, no, let's not. We'll take it to here. We're we're getting 3 point, what, 125? 3.125, Bitcoin per block being minted for the miners as their reward for mining? Okay. A Bitcoin is arbitrary. What's really being minted are whole numbers. Those are the Satoshis. So, when you win 1 Bitcoin, when we say 1 Bitcoin, what we really are talking about is 100,000,000 satoshis. Those are indivisible, as far as I know, on the main chain. We can't say. And I asked.
I said, one day and this is a long time ago before I was trying really trying to figure out what the hell this was all about. I asked a developer somewhere, and I can't remember where. I was like, how how does the Bitcoin protocol handle, double float point calculations? And that means I mean, essentially, it means a lot of the ability to to, calculate to a lot of decimal places, like 1.00150925, like pi, like 3.1415 and a infinite amount of numbers. Right? That's where you get into precision and whatnot. And computers get weird about precision. Whole numbers.
There's 1 satoshi or 2 satoshis. These are whole numbers. They're not 2.0 satoshis or 2.5 satoshis. That cannot happen on the main chain. But it can happen on layer twos like lightning. And I get the feeling that core lightning was, was CLN. I think that they might be hinting that they're going to pull something like that in the future where we start talking about serious precision after the decimal place in being able to keep account of how many Satoshis. And at that point, if that happens and that actually gets into mainstream news cycles, then the Stephanie Shelton's of the world or whatever her name is, Kelton. I can't remember. She MMT theorist that talk about, infinitely divisible pizza pies. Yeah. That's all gonna come back. So be aware that's gonna do it for the morning roundup.
Dad says jokes. A caveman and a bear walk into a bar. Bartender says, okay. What's your story? Caveman replies, bear with me. Alright. If you did not boost during the song, please go back, relisten to it, and boost them because the best way to continuously get better artists onto platforms like Wave Lake and away from legacy the the legacy music industry is to actually show them that this stuff works, that podcasting 2.0 works, that the lightning network works, that time splits work. If we don't do that, they're just gonna end up languishing over there with ASCAP and BMI and Sony and Columbia and whoever else is left in the music industry, and you really don't want them to have to do that. I'll see you on the other side.
This has been Bitcoin and, and I'm your host, David Bennett. I hope you enjoyed today's episode and hope to see you again real soon. Have a great day.
Good morning. This is David Bennett, and this is Bitcoin and, a podcast where I try to find the edge effect between the worlds of Bitcoin, gaming, permaculture, podcasting, and education to gain a better understanding of all. Edge effect is a concept from ecology describing a greater diversity of life where the edges of 2 systems overlap. While species from either system can be found at the edge, it is important to note there are species in the overlap that exist in neither system, and that is what I seek to uncover. Uncover. So join me in discovering the variety of things being created as Bitcoin rubs up against other systems. It is 9:30 AM Pacific Daylight Time. It is the 6th day of the 6th month of the year, 2024. And this is episode 905 of Bitcoin, and the circle p is open for business. The circle p is where I bring plebs like you to plebs like you, but they have goods and services for sale in Bitcoin. If they're not selling it for Bitcoin, they're not in the circle p.
I am really going hard on promoting XiXi and his confre. If you don't know what confre is, just think of it like this. It's a magic plant. What you might as well ask what it can't do instead of what it can do. I mean this thing is a medicine, it is a mulch, it is a biomass production unit, it is infinitely divisible, it is drought tolerant, I don't know, man. There's all, bees love it. There's like 50,000 different things about this plant. And if you wanna know more about why you want this plant in your yard, if you're anywhere close to oh, I don't know. I think the only place that it wouldn't grow is in the Arctic Tundra.
So if you're not living in the Arctic Tundra and you want a plant that does all kinds of magic spells for you, well, Confrey is for you, and you're gonna find out more about it in episode 726 of Bitcoin and that's 726 of Bitcoin and I'll have a link in the show notes, directly to the, fountain page the fountain app, page for that one. I highly recommend it because I go into all of why it is that you want this plant, the history of it, all the stuff that it can do. It really is an amazing thing. And if you wanna buy root cutting so that you can have some of these of your own, you're gonna get a hold of she she [email protected].
That's s h I s h I, the numbers [email protected]. I will also have his Noster Impub in the show notes, and it's a link directly to I think this one is a link directly to the primal. So even if you don't use Noster, if you click the link, you'll it'll pop up a Noster Noster client for you. It's just a web client, so it'll go right to it and you'll see she she. And if you're smart, you'll spin up an insect and an n pub, a couple of, you know, private public key pair, and start getting on Nostra and get off of the hate machine that is Twitter. Honest honest to god, you don't wanna be there. I'll get to that in a second.
One full root cutting for $20. It's this thing is gonna grow fast and it's gonna grow really really well. The root cuttings are a buck a piece. I recommend getting 20 of them. You're gonna pay shipping. And if you mentioned that you heard it here on the Bitcoin and podcast in the circle p, she she's gonna cut me in for some of those sweet sweet satoshis. And he is selling it for Bitcoin because, like I said, if you're not selling it for Bitcoin, you're not in the circle p. Alright. So getting back to the hate machine. Yesterday, I went over there to do something. I I'm act oh, I know what it was. I checked my, DMs because that seems to be where, you know, a lot of people clearly, millions of people are still over there.
They're not just gonna all flood into Noster. I and, honestly, we're not ready for that stuff anyway, but it is a hate machine. That's a real big problem. I mean and and here's what I mean. I went over there to go check out something in my d m's and before I got to my DMs I saw somebody had posted a video of a guy that had just discovered that his dog had been shot by a sheriff's agent. Wasn't even really I don't even think I think it was serving a warrant, so he was sort of like a contractor for the sheriff's department. Shot and killed this dude's dog trying to serve a warrant on the on a wrong property.
And the thing about it was is that I was almost almost instinctive to hit that play button, which I did. And I'm listening to this thing. And this guy crying and his wife crying. And I mean, he's yelling at this dude to get off his property. And it's just and what I realized was that it doesn't matter that this guy killed this dude's dog, which is horrible. It's that I'm kinda done with that whole world. And if we're gonna build something new, we're gonna have to stop steeping ourselves like a fucking teabag in hot water.
We've gotta stop doing it. Right? So when you go buy comfrey from Shishi, please consider using the link in the show notes to go to primal.net and go in directly to XiXi's profile and interacting with Noster the right way, which means you spin up and once you get there, I if you have any problems, just get in touch with me. Okay? I'll I'll try to help you out or I will direct you to somebody who can. You can get a hold of me through, like, give throw me a boostagram on fountain app when you're listening to this and I'll I'll see what I can do. But at least give it a shot. You owe it to yourself to not have to see videos of Sheriff Contractors serving warrants on the wrong address and killing somebody's dog.
You won't see that on Noster because we don't give a shit about this world anymore. We need to leave it behind. Okay? We're entering a new world, and it's being ushered in by the likes of, god forbid, Robinhood. Yeah. The big news of the day from Fortune Crypto. Robinhood has bought Bitstamp in a surprise $200,000,000 deal. Jeff John Roberts is writing this one. Robinhood announced on Thursday that it has acquired Bitstamp. No. It they they it's already done. This is a done deal. Right? They're not talking about it. They're they've already talked about it. The deal is signed. Robinhood has bought Bitstamp, one of the world's oldest cryptocurrency exchanges, in an all cash deal expected to be worth around $200,000,000, which I think is actually rather cheap, personally, but whatever.
The acquisition, which is expected to close in the first half of next year, 2025, will advance one of Robinhood's strategic goals by expanding the company's presence in overseas markets. So the rest of it is sort of a history of Robinhood and what's going on and bit and the history of, Bitstamp and where it started, and we don't really need to know that. But here's the thing, I kind of I mean, we we definitely know that we're in the then they fight you stage. We know that. But are we now in the then they buy you stage at the same time? So this is this is a really weird dichotomy. We've got Robinhood is a United States company.
And we have we have a congress that half of them seem to really want Bitcoin and the rest of the the crew to, you know, be able to work in the United States. We've got the other half that doesn't. We've got an an executive administration that really doesn't seem to want this shit. We've got a regulatory situation that also doesn't seem to want any of this. And but yet Robinhood buys Bitstamp. So which one is it? Who's going to win? We've got ETFs being held by some of the largest funds in the world. We've got Robinhood buying an old one of the oldest crypto exchanges that there is. It's a very confusing landscape to navigate. Let's just let's just say that it's a very confusing landscape to navigate. But it does seem to suggest that these guys are just full bore the private sector is full bore going for it.
They're gonna go for it. They've been going for it, and they just seem to say, damn it. We don't care if you're gonna sue us, if you're gonna throw us in jail, if you're gonna regulate the living piss out of us. It doesn't matter. We're going to go forward. Maybe we'll ask, you know, for for, I don't know, grace later or something like that? Where you you just do it and you ask for you apologize later. So it's one of those things. I I just I think that this is a significant purchase even though I'm not a fan of Robinhood. I don't use exchanges, but I cannot not see the fact that one of the largest yet newest of what we would call the legacy finance world has acquired one of the oldest and longest running Bitcoin exchanges that there is.
I can't unsee that. I think that this is an important step. Not exactly sure how it's gonna play out, but we'll I guess we'll soon find out. Moving on, a new law has granted the United States president the power to block digital asset access. And I really hope Josh O'Sullivan lines us out on what the hell's going on here in coin telegraph.com. A new law grants the United States president sweeping powers to block access to digital assets, drawing significant concern from commentators on Twitter. Scott Johnson, a prominent voice in the digital asset field criticized the law for its broad scope on June 6th stating quote it's hard to see how this isn't intended to be a user level band power by the President on any protocols slash smart contract that's dreamed by the Secretary of Treasury to be controlled, operated, or made available by a foreign sanctions violator.
Breathtaking scope and implications to corral users to KYC slash permissioned chains. End quote. A Twitter user posted Mark, senator Mark Warner's apparent strategic insertion of legislative elements on June 5th labeling the scrutinized new sweeping powers granted to the US President over digital assets. The new law broadly defines digital assets encompassing any digital representation of value recorded on cryptographically secured distributed ledgers quote Any communication protocol, smart contract, or other software deployed through the use distributed ledger or similar technology and that provides a mechanism for users to interact and agree to the terms of a trade for digital assets end quote.
Under the new law, the President can block transactions between US persons and foreign entities identified as supporting terrorist organizations. This includes imposing strict conditions on foreign financial institutions maintaining accounts in the U. S. If they are found facilitating such transactions. Prohibit any transactions between any person subject to the jurisdiction of the United States and a foreign digital asset transaction facilitator identified under paragraph 1. Johnson's analysis suggests that the law's broad applicability could compel users to join know your customer compliant and permission blockchain networks, ultimately limiting them to regulated blockchains.
He warns that the move could be seen as an effort to exert control over digital assets under the guise of combating terrorism. The elements allegedly added by Warner, or Warner, enabling the presidential empowerment are borrowed from the, quote, terrorism financing protection act or prevention act. Sorry. The terrorism Financing Prevention Act. The act was introduced in a December 2023 announcement allowing the United States Treasury Department to go after emerging threats involving digital assets. All I can really say about this, given what we're reading here, is good luck. Good luck.
I'm not going to voluntarily give up my Bitcoin. I'm not going to sell it and move over to a government regulated blockchain. It's just not gonna happen. Maybe I'll go to I don't know if I go to jail or not. I don't care at this point. I I none of these people are speaking for me. It's very clear that none of these people want me to have any kind of future whatsoever, so fuck them. I don't care. But it's what they're suggesting here, I'm never going to comply. I'm never going to stop running my full node. I'm never going to stop running a Bitcoin or a Lightning Network node. I'm never going to use any kind of custody that is not my own self custody under my own private keys, which only I hold. That'll never happen. I'm just not gonna do it. So I don't know what's what b is under this Warner's bonnet, but I honestly I'm I'm way past caring what the implications if I do not comply with people who I do not respect are. I just don't care.
We'll have to see what happens later on down the road. I honestly think that if anybody, anybody gives up their custody, then you deserve exactly what you get. You may not be in prison, but you're just gonna be in another kind of prison. It will be a financial prison, the likes of which you you might actually want to go cool your heels in a federal penitentiary compared to the financial terrorism that is being wrought upon the American people and, generally speaking, the people of the west at this moment of time. So if you wanna go do it, have fun staying, I don't know, whatever. So Gigi, dir Gigi, put up a rather cryptic, note on Noster. And again, if you're not on Noster, why?
But he says, and I quote, Noster is just a Twitter clone, end quote. And then he's got, you know, Noster, colon. And then he has a video of of text that's scrolling. And what basically he's doing is he's at a he's at a command line interface. I presume that it's Linux on some Linux box. And at the command line he types in zapstore install bitcoin core. And then zapstore, I guess, which he's communicating with comes back with a message and it says installing Bitcoin Core 27.0. Okay. Whoop dee doo. Whoop dee doo. Right? So what? You that I mean, this you might as well you you could be doing this from GitHub.
But there's a catch, and here it is. It says, after it says installing Bitcoin Core. It says, please input your n pub. Now for those of you who are not on Noster, your inpub is your public identity. Essentially, that's your handle. If you can like on Twitter. Right? Mine's, like, I don't know, David Bennett 829046 or something like that because I've never gotten around to changing it because I kinda just don't care about Twitter anymore. But, it's your handle. That's how you get a hold of other people. Alright? So it says, please input your in pub. Except that g g just puts in this in pub and it's not g g's in pub. I went and checked. I can I can tell?
So there's a little bit of confusion here. I want Gigi to come back and really outline what's going on here. But here comes the big part. And this is what I think what leads me to believe what I think is going on. It says, calculating web of trust after gg puts in this input. And then after that it says gg comma LSAT comma Derek Ross comma Odell comma Leo Wanders Leb and others follow this signer And then it gives a list of all the actual inpubs of each one of those individual people, including Gigi, And it really is Gigi's nPUB in this list of nPUBs behind all of these names in this web of trust calculation. And then it says, are you sure you want to continue?
Yes or no? And then Gigi says yes, and then installs. So here's what I think is going on with this. Nostra, in this particular case, is being used as a web of trust slash reviews on installing a package that was put up by a particular inpub. And you can put in that inpub as the person that you think gave you that package. Right? Like, so if I go download something from Zapstore, there's an inpub associated with that of the developer or rather the maintainer of that particular application. So I put in that inpub and then it goes through and it says, look, I'm gonna go find all the in pubs that follow this and I'm gonna compare it next to the people that you follow. And if they're the same, I'm going to give you the list of the top people that you both follow. The guy that does the maintaining of the application that you're about to install and yourself.
And you can make a determination if you can use that calculation as to whether or not you trust this individual. So he says yes because he's following a lot of quality people that the same maintainer that he's installing from is also followed by. So that gives a a level of that there's other people that think this guy is completely above board. So Noster now turns into not just a digital identity. It's not just social network. It's a way to essentially review an installation package that you're about to put on your machine and use those reviews as a substantial way to guarantee the safety of the or not guarantee, but to come close some degree of guarantee of the elements of safety of the package that you're about to install because you're pretty sure that the guy that you're getting this from is the same guy that you yourself follow and a whole bunch of your friends follow.
So there's this element of trust. There's an element of review that's going on here. That you should not dismiss that. The way that Nostra is being used in all these different and completely particular ways that has essentially not a whole lot to do with quote unquote a Twitter clone should wake you up. If you're not using Nostra, you really need to learn how to use Nostra. It's not like it's difficult. There's a little bit of different stuff that goes along with it. I get it. I understand. But it's not all that difficult. And you're really doing yourself a disservice if one of these days you get booted off of Twitter and you got nowhere else to go and you didn't learn how to use you the Nostr, well, now you're gonna be really wanting to learn how to use Nostr and you could you could have just done it today. You could have just figured that out today, claim your name space, and get on with this.
Because this kind of thing where we're finding out different ways to use Nostra is never gonna stop. There's so many different ways that we can use this protocol. We haven't uncovered a fraction of a single percent of all the stuff that we can do with this thing. And and where are you? Are you sitting on the sidelines, sitting on your hands, just, you know, waiting for something to happen before you, quote unquote, have to get into this? I highly recommend not doing that. You need to go check this stuff out now. Okay. So moving on, Binance reinstates crypto buys via Mastercard.
Binance has resumed allowing its users to purchase crypto using Mastercard. This is gonna be interesting. Zoltan Vardai from cointelegraph.com, The world's largest cryptocurrency exchange will once again allow its customers to purchase cryptocurrencies using Mastercard. Binance has resumed those purchases via bank transfers using Mastercard debit and credit cards for smooth transactions. According to a June 6 Twitter post, on the Binance platform, the quote, buy crypto via Mastercard have been re enabled with a maximum onetime purchase of up to €5,000 worth approximately 54100 dollars for euro based transactions and up to 20,000 US dollars for United States dollar based purchases.
The world's largest crypto exchange plans to add more regulated fiat payment providers in the future for more intuitive crypto purchases. A Binance spokesperson told Cointelegraph, quote, Binance continues to invest heavily to ensure it meets the highest standards of compliance. Jesus. If you know anything about Binance's history, that's laughable, but whatever. Following an extensive review of the rigorous controls and processes that Binance put into place, Mastercard made the decision to allow Binance related purchases on its network, end quote. That ain't the only people that allowed that.
Mastercard is also heavily regulated by the United States Financial Regulatory Community. Somebody said, yes. You can do this. Because I guarantee you, Mastercard shut this crap down for for Binance because they didn't wanna have anything to do with the regulatory scrutiny. So they either got a letter or a phone call or they asked permission or something. And now this is all above board. So after cz is gonna be cooling his heels for, like, what, all of 4 to 7 months, Now all of a sudden, a major player in legacy finance, as far as credit card companies and corporations are concerned, has re enabled Binance to use their services as a payment rail to buy Bitcoin and the rest of well, and the shitcoin field.
Again, like the Robinhood buying Bitstamp, I can't unsee this. So where is this all going? I think that I think I I I'm almost about to say that the then they fight you phase is gonna be a little bit shorter than I think. Now I say that knowing full well that I could very well be wrong, but there's something about these news stories today that my gut feeling is starting to say, we might not have a then they fight you phase as bad as we all think thought it was gonna be. I don't know. But one thing's for sure, Bitcoin miner, BitDeer, is going to buy an ASIC chip designer named Desi Wine Wymaner?
Desi Wymaner? For a $140,000,000 in an all stock deal according to CoinDesk's Jamie Crowley. BitDeer has agreed to acquire Desi y Wayminer. Desi Wayminer. That's a weird name. Desi Wayminer, a designer of chips for ASIC Mining Machines in an all stock transaction worth $140,000,000. BitDeer agreed to acquire all outstanding shares in the company for a consideration of 20,000,000 class a ordinary BitDeer shares on June the 3rd according to an announcement on Thursday. The acquisition is subject to customary closing conditions. The Desi Weimer team will team will join BitDeer's ASIC design team in Singapore and products featuring the integrated technologies of the two entities are slated for immediate release.
BitDeer received an investment worth $150,000,000 from stablecoin company Tether at the end of last month. I guess they used that to buy this thing. BitDeer shares showed little initial reaction to the announcement, rising a mere half percent to $7.5 in premarket trading. So now we got a mining company that's bought an ASIC design, company. This should be interesting. I I I mean, this you're gonna see more and more of this. And here's what's here's what's really weird. If you've got you've got Bitcoin miners, they have connections directly to 2 completely separate industries.
They themselves represent the Bitcoin industry. We get that. But and the easy one is that, well, yeah, of course, ASIC design, you're gonna need chip designers. So those are are close, but you're gonna see that you're gonna see the collapse of chip asic chip design into directly into bitcoin mining companies. But who else is connected there? Energy production. Oil and gas, solar, wind farms, you name it. Any kind of energy production, whether it's green or fossil fuel, is directly connected to Bitcoin mining, and it never will be disconnected at this point. They're it's too intertwined. So now you've got a tripod, which is the most stable seat you can have.
Right? A chair with 3 legs is the most stable form of chair that you can have. So you've got energy companies, you've got Bitcoin Mining Companies. And you've got ASIC Chip Design. So now, ASIC Chip Design is directly integrated into energy production. Will anything drop out of that relationship? I don't know. But this is a this is a network that's forming that, again, I cannot unsee this. I cannot unsee ConocoPhillips, you know, like ASIC Mining and ASIC Design. I can't unsee the fact that they are now all gonna cozy up together. And we should be looking very hard at what this actually means.
Okay. Bitcoin users just wasted $100,000 on invalid. Jason Nelson from decrypt. I wonder what laughable assholes got their butts handed to him today. Nearly a $100,000 in BTC was vaporized on invalid Rune Protocol mints according to Bitcoin ordinals and Runes explorer ordi. Io or ord. Io on Wednesday. The specialized tracker tweeted that 1.365 BTC worth approximately $97,000 was lost by users attempting to mint Rune 777, also known as Leroy Jenkins. Runes is a fungible token. Yeah. Well, I guess I'll tell you in case you don't know. Runes is a fungible token protocol on the Bitcoin network that lets users, quote, etch and mint tokens on the world's largest blockchain.
Pausing to say it's a scam. Please don't engage in runes, ordinals, inscriptions, or anything of the like. You're just gonna be a sad puppy at the end of the day. Continuing, quote, the way runes minting works is there is a mint window in which all Rune's minting transactions are valid, pseudonymous Ord cofounder Leonidus explained to Decrypt. For example, from block 840,000 to block 841,000 towards the end of every run's mint, people rush to get their mint transactions mined before that window closes. In the above example, Leonidas explained if a mint transaction was mined in block 841,001, the collector would have paid the network fees but get nothing.
Nothing. Quote, if you fail to get your transaction in there, you lose your BTC and you don't receive the runes. This is just how the protocol works, Leonidas said. Toward the end of popular mints, he added, demand for minting outpaces the supply of space in a blockchain block. According to the Ord website, Leroy Jenkins has a max supply of 69,400,000 and currently has 1,350 holders. Of 57,850 completed minutes, 276 were labeled as invalid. Invalid out of 57,000. 256 times people just lost their their bitcoin. And those disappointed mentors have no recourse. Of course not, because it's bitcoin.
Bitcoin is not aware of the runes protocol and does not have the capability to use logic the way a smart contract would to refund invalid mints. To the Bitcoin network, a runes mint is just a meaningless piece of data. Yeah. And to me, it's a meaningless piece of data as well. Runes do not do not do not engage in this degenerate, reprobative bullshit because it's just going to lose you money. The name Leroy Jenkins comes from the iconic World of Warcraft characters of the same name. The infamous player created by Ben Schultz cost his dungeon party their treasure by reckless recklessly charging into a battle ignoring the plan of attack. Jenkins has since become an Internet meme.
Leonidas said that while runes minting the sites could attempt to help users avoid losing out, there may always be losers. No. There always will be losers because this entire fiasco that is ordinals, inscriptions, ruins, and anything else is just a re re upping of the degeneracy that we saw in the summer, what, 3, 4 years ago where we ended up with SushiSwap? Well, SushiSwap is now back in the news because, yay, decentralized exchange, SushiSwap, goes live on Bitcoin side chain Rootstock. Yay. Jamie Crowley, writing for CoinDesk. Decentralized exchange, SushiSwap, is now live on Bitcoin side chain Rootstock, according to an announcement shared with CoinDesk on Thursday.
Launching in 2018, Rootstock is one of the most established projects aiming to introduce decentralized finance features to the Bitcoin network that are more commonly associated with the likes of Ethereum and BNB Chain. That's all we need to know. Okay? So thank thankfully, it's not directly on on Bitcoin. But here's the issue. It is it used to be sort of where we talked about that everything is gonna be on Bitcoin sooner or later. All the crap that you can do on Ethereum is going to we don't need Ethereum because we can do it we would be able to do it on Bitcoin. We don't need Solana because of the same reason. We don't need BNB because of the same reason. Hell, most of the people are actually saying, we don't even need really stable coins because we now we can, quote unquote mint a stable coin directly on top of Bitcoin because of that bullshit like rude rudinals.
Don't know. We'll just call them rude rudeinals. Actually, that may be a good title. Hold on. Rudinals. Alright. That's happening. We're we're watching it happen. And I think what's gonna happen first is it's gonna be like a Bitcoin milkshake, like the dollar milkshake theory. I'm looking at milkshake at at Bitcoin milkshake theory here. There are there are chains and blockchains out there that are very close to Bitcoin in the way that it's architected. Rootstock is kind of one of them. They're also considered the oldest, blockchains that are a lot like Bitcoin but are clearly not exactly Bitcoin.
And you got stuff like Monero, Zcash, in this case Rootstock. And there's a couple of other ones and they sort of like in the in in more of a closer orbit in Bitcoin than the rest of this crap. Now it's still crap. Don't get me wrong. But I think that what's gonna happen is that all of these, quote, unquote, great things that you can do on on Ethereum and all this other garbage that's out there is going to first come to a small group of blockchains that are very, very close to Bitcoin, like Rootstock and Monero and z Zcash and all the rest of them, the old the very oldest chains.
And everything is gonna collapse into those guys first, and then those guys are gonna end up collapsing into Bitcoin. And my gut feeling is that it's going to cause a it's gonna cause a mess. We'll get through it. We always do, but it's gonna cause a mess. But it's true. We don't need any of the rest of this garbage. We we never did. All of this can be done on Bitcoin. And I heard somebody say the other day, oh, it was too hard to program on bitcoin. I'm sorry for you. There's a lot of people that that say that it's too hard to program in c and they would rather use Python. Okay. That's your choice. That that's fine.
But what I don't hear from those same people is, like, is that they're complaining about c. They just say I prefer Python or I prefer being able to do something in whatever other language. They they they they pick their language. Same thing here, except people complain about it. I heard somebody you know, like, the the person I'm talking about was, like, saying I was, like, they they haven't been working on Bitcoin because it's just it's just too hard to program on it. Well, you should have learned how to program on Bitcoin because everything is going there anyway. It doesn't really matter. We've got numbers to run. CNBC Futures and Commodities. I got oil is actually up today, almost 2 full points back to 75 and a half dollars. Brent Norsee is up 1.73%.
Natural gas up point 15. Gasoline is up. Oh, uh-oh. Here comes summer driving season, y'all. 1.67 percent to the upside. Now clocking in at $2.39 a gallon. Shining Metal Rocks having a very good day. Gold is up 0.6. Silver is up 4.26. Platinum is up 1.15%. Copper is up 1.5. Palladium tanking 1.5 percent to the downside. Looks like lumber is our biggest win no. Chocolate is our biggest winner. Cocoa was up 5.43%. Most of ag is actually in the green today, which is odd. Biggest loser today is wheat. 0.39% of the downside. Live cattle is down 0.18%.
Lean hogs are up 0.7. Feeder cattle are down 0.7. The Dow is up, but only moving sideways, honestly. S and P is down a quarter of a point. Nasdaq is down 0.14. S and P Mini is down a half. Clark Moody's dashboard clock in Bitcoin at $70,790. That is a $1,400,000,000,000 market cap. There are you can purchase if you so choose 30 ounces of shiny metal rocks with your 1 Bitcoin of which there are 19,000,000 708,421.12 of, and fees have gone up. Yes. They have. They've gone up very, very hardcore wise. 0.58 BTC per block on average in fees. So that's quite a bit different than the 0.23 that I'm used to seeing. So, yeah, fees have gone up. And speaking of blocks, how many blocks are there? There are 238 blocks carrying 331,000 transactions waiting to clear at high priority prices of 62 satoshis per vbyte. Yeah. Yeah. I'm telling you, man. 48 satoshis per vbyte is low priority, and anything under 7 a half are getting kicked out of mempools around the world.
Mining has dropped drastically to 501 x of hashes per second. Not sure exactly what that means. Hold on. When's next having no. I mean, sorry. I'm looking for the difficulty adjustment. Was do we have another? 14 days. Oh, we just got a difficulty adjustment. That's why the hash rate is down. It always does that. Okay. So now from episode 904, banning cats, Nat gas immersion boosted me 20,000 satoshis. Thank you, sir. User 749-39891 with 10,000 satoshi says boosting is loving. I believe that is Ainsley Costello's mom who I was in contact with, on Twitter, that was one of the people I was trying to get a or that was getting a hold of me, and we were talking on DMs as to whether or not it was working. I e, was it actually pass were the sats passing through given the time split that I had set up for Ainsley Costello's song, People Pleaser. And it does look like it it it is. That it finally is actually working.
But the day before yesterday or when yeah. The day before yesterday, Albie Wallet was having some serious issues. So Albie Wallet was completely broken right right when I released that episode. So a lot of the first, boost did not come through, but they did come through later. So hats off to Alby for keeping tabs on what was going on during their downtime and making things right. Because the people that did boost, Ainsley Costello during her portion of the podcast, she she got those. Okay? So, not to worry. You don't have to reboot. They finally came in but it took like 6 hours to clear up. Joey Delodge with 3333 says, boost. Dubravco with 17.90 says, great song zapped to the artist.
Blogging bitcoin with a 1,000 says, I'm boosting the bitcoin and podcast. But the sats get sent to Ainsley Costello, yet most Bitcoiners still think Noster is boring. And Ainsley Costello actually herself replied to that said, Noster is the opposite of boring. Thanks for the support. Blogging bitcoin with a 1000 says, the ticket bot thing is awesome. Yeah. Damn right it is. Pies with a 1000 says, thank you my friend. You made my day for calling me out. Good. Good. User 749-39891 with a 1000 says, ticket bot. It just makes sense. Kenneth Lloyd with 500 doesn't say a damn thing.
And 02ZX says, with a 500 sat says, still boosting on the web here. Ainsley Ainsley's tune is alright. Pleased to see more musicians using zaps in 2024. We gotta keep this momentum for the artist. Appreciate all of it. Ainsley Costello, replied to that as well. Pay Psyduck with 420. Gracias, senor. Oh, thank you, sir. Pye's with 420 says, this is for Ainsley. Pye's boosted another 420 saying, thank you, sir. Wartime with 420 says nothing. Joey Jo Joe or Joseph Joey Jo says with 420 nothing. Jim Leahy with 300 says, phew. Still kicking ass, I see. Yeah. Well, I hope so. God's death with 237 says, thank you sir, no thank you. Party Koch with a 100 says nothing.
And FOMO Metronic. I've got a bone to pick with you, pal. Even though you did pay 100 sats for this, when you say things like this song is shit and I wanted to pay just to get my words to the artist. Now, if you actually meant to write this song is the shit, the shit, and I wanted all that, the rest of it, okay, I'm good with that. But it really looks to me like what you said was that this song is shit. Was there no way that you couldn't have kept that to yourself? I mean, this this this girl's trying to, you know, she's she doesn't need that.
If anything, she needs encouragement. I mean, that's our I mean, what are we doing? What are we doing? FOMO? Is that is that really the legacy that you wanna leave? Is is telling a 16 year old girl that her song is shit? Is that really the attitude that you wanna take going forward considering all the bullshit that we have to deal with from people that don't like us anyway? Do we have to be this nasty? I'm saying please reconsider. Please reconsider when you say stuff like that. Think before you say stuff like that. Because Ainsley comes back and says, it's all good. Thanks for spending a few sats on me and the movement to which Chad F. Says sats are sats and Alan C. Paul says, you're a class act, Ainsley. And she is. Because she was able to take a comment that basically called her art shit and step right fucking through it.
Good for you, Ainsley. It's really sad to see, but that's the weather report. Hey, let's get some music. I guarantee there'll be a way to run. It's gonna be alright. I can't promise Alright. That was the protagonist from the album, the sheer magnitude of it all by the band named Death of Lions. I thought that song was actually pretty cool myself. I haven't heard good music that I can play without getting sued by ASCAP or BMI or somebody in a very very very long time. I used to play music on the, on this program all the time, but then I realized, it's like, dude, you you don't have permission to play any of this crap, so I just stopped. But now with things like Wave Lake and being able to boost, your the people songs and whatnot like that, with podcasting 2.0. If you're not using a podcasting 2.0 app, you need to start, and you need to start today.
I've been able to bring music back. And that one, as I did with Ainsley Costello's, I'm going to put a time split into, into right there. Like, essentially, the time split allows me to when you boost this program, during certain times, all of the SATs go to me except during other certain times where I set up a time split. During that particular time, your satoshis will bypass my wallet and go directly to whoever else's wallet I choose and I'm going to put their wallet during the time of their song as the recipient of any sats. So if you were boosting during that song, I did not get those Satoshis.
And I am happy to give them over to the people that are allowing me to use their music for this program for your entertainment. Now welcome to part 2 of the news you can use. Wallet of Satoshi is still alive. It's just not being able to be used in the United States. But this is what's funny. Wallace Satoshi put out a note on Nostra that says and it's got, like, a small video. It says, what if Square merchants could receive BTC via lightning with their wallet of Satoshi point of sale and it instantly appeared as a Square payment. It would greatly simplify bookkeeping and sales tax tracking. Well, we've got it working.
We'll be looking for some brave Square merchant testers soon. And Jack Dorsey, renoted that out on Noster. And so the video shows a a square point of sale device that you will see that you see in, you know, stores regular retail stores. And this guy's got 2 phones and he sets up a payment on one phone and then he takes a picture of that payment with another phone, passes that phone in front of the of the of the point of sale device for Square, and lo and behold it transmits the information directly over to the point of sale. It it they're not really explaining it all that well as to exactly what's occurring. But the end result is by using the Lightning Network and a Square Point of Sale device, the Wallet of Satoshi guys have made it to where you can just pay with a Lightning invoice directly to a Square Point of Sale device.
I presume that you've got to install something on the point of sale device, but I don't know. I mean, but it's very clear that the Wallace Satoshi guys have got some kind of proof of concept working directly with an actual honest to god square point of sale device. It's, again, can't unsee it. I've seen it, I can't unsee it. BTC pay server version 1.13.2, has been released. It contains Bolt Card plugin, refund reports, bug fixes, and improvements. BTC pay server 1.13.2 is out. This release sets a great foundation for the 2.0.0 release and is only a small glimpse into what is coming next. Quote, as usual, if you got problems, feedback, feature requests regarding the, BTC pay server, feel free to reach out on our community chats on Mattermost or Telegram. So what's new?
Well, the BoltCard plug in. Create, top up, and check BoltCard balances of all from your BTCPay server. A single point of sale device can now not only accept but also issue and top up Bolt cards. BTC Pay is now becoming an end to end solution for Bitcoin economies. Again, can't unsee it. Improvements, there's search, display text filters, and there's some other stuff. But the big one is this bolt card thing. The bolt card plugin for BTC pay server, again, right next to the Wallet and Satoshis guys being able to finagle a point of sale device from Square to accept a lightning payment. This shit is coming so fast. I don't think they'll have time to fight us.
I really I I my gut feeling is now that the then they fight you phase is not going to last anywhere close to as long as we had envisioned, which is a good thing. I kinda like that. Human, rights foundation, Bitcoin Development Fund Grants 10 BTC to 13 Bitcoin Projects. HRF's latest batch of grants focus on education for people living under authoritarian regimes, privacy and lightning development, decentralized communications, and providing nonprofits and human rights groups with easier on ramps to financial freedom tools. Areas of focus include key countries and regions in Latin America, the Middle East, Asia, and Africa.
So the projects that have received financial aid from the Human Rights Foundation are as follows. Robosats, Bitshallah internship prog program, building bridges to Bitcoin, flash, Bitcoin Seoul, that's Seoul Korea, Margo Paes' research, validating lightning signer, open sets, the core, Terry Yu, Palo Sacramento, Blockchain Commons. Oh, nice. Blockchain Commons. And, of course, the summer of Bitcoin. The summer of Bitcoin is a global internship program enabling university students to contribute to Bitcoin open source development and design. So 10 BTC.
10. That's a that's a lot of money at this point. So there there you go. Nigerian banks can start collecting customers' social media handles for know your customer checks, high court rules. Let me read that to you again so you know, kinda know where we're at. Nigerian banks can start collecting customers social media handles for KYC checks. Jeff, just stop using this shit. The Lagos Federal High Court presided over by Justice Demgaba upheld a Central Bank of Nigeria regulation requiring financial institutions to collect social media handles from customers as part of their know your customer procedures.
What? WTF? The justice dismissed a lawsuit filed by Lagos based lawyer, Chris Aake, who argued that the regulation is stated in section 6 a, 4 of the Central Bank of Nigeria Regulations 2023 was undemocratic, unconstitutional, and inconsistent with section 37 of the 1999 constitution of Nigeria. For all it is worth, I do not see how asking a banking or potential banking customer to provide his or her social media handle can ever amount to a breach of privacy, the judge reportedly said. The judge added that requiring a social media handle is compatible or comparable to requesting an email address or a phone number. All these contact details serve as methods for a bank to reach out to a potential customer and conduct due diligence to assess their suitability for banking services. As such, this regulation does not violate customers' rights to privacy.
Per the Human Rights Foundation CBDC tracker, the Central Bank of Nigeria launched its CBDC, the e naira, back in 2021. However, it has failed to gain any meaningful adoption in the last 2 years. Do not give them if you're listening to me in Nigeria, and I've got a couple of people that do, I can tell by the map on Pod home, where people are listening. Don't just don't. Just tell them you don't use social media. Or give them give them, like, your nost you're not yours. Spin up a fake, some kind of like a like a fake insect, something that you're not gonna use on Noster, like the brand new, for lack of better term, an account. Spin one up. Don't ever use it. Post 1 this post once to it that says, I love central banks. And then give them that that, in pub.
And say, this is my social media. And make them use Nostr. Force them to use Nostr. But this is bullshit. You don't need to be giving anybody your social media account. And, honestly, you know, there's a lot of people that just give their real names on social media accounts. I kinda I don't. And I'm because I'm just not using them very much anymore, so I don't care about the ones that I did. Like LinkedIn, my real name's on that one. But Twitter, no, man. It's not my real name. My Twitter account is not my real name. I I I mean, they can figure it out if they listen to the show, but I'm not gonna use my real name for it. But even if, like, if for whatever reason Wells Fargo sent me, like, a a I don't know, like, something in the mail that said, oh, by the way, you're gonna have to give us your social media accounts. I don't have any.
Go fish. What are they gonna do? How are they gonna prove that anything is actually mine? They wouldn't even be able to stumble across it. How many millions of these things that you got to filter through even if you've got computers to do it? I mean, and then it's like, no. It's like, okay, like, used to be mine, but I don't use it. Maybe you got hacked. I don't know. The whole thing is weird. These people are weird and they all just need to go away. I don't know. But on to bigger and better things. The Open Cash Association has launched to support projects building on the CashYou protocol.
CashYou developer, Cali, announced the launch of the Open Cash Association at the Oslo Freedom Forum 2024. This nonprofit organization aims to support the open source development of projects built on the Cashew protocol. So it's Cashew specific. For those of you wondering, Cashew is an e cash protocol that I have I I still I still like it. I do not consider it a shitcoin at this point. That may change depending on how all this runs. But for now I kinda like e cash. It it works very very well. It's completely transportable between the lightning network. It's it's it's brilliant, honestly.
I just hope it stays that way. So, quote, Open Cash supports projects building on the Cash You protocol. We believe that digital cash infrastructure should be free and open source and accessible to everyone. We provide funding to developers through our grants program and we support the broader Cashew ecosystem through our research and events. All projects that we support are open source and free to use. Help us provide sustainable support for Cashew projects by donating to our fund. Your donation will be used to support developers, fund research and organize events.
The Open Cash Association is based in Switzerland and is governed by a board who have earned a strong reputation in the field of Bitcoin and Chaumian e cash systems. Strike is going to kick it off and contribute $100,000 to get it started for Cali, announced Jack Maurer's founder and CEO of Strike, said during the announcement, you can learn more about the Open Cash Association or donate to its fund at open cash dot dev, dev. That's open cash dot dev. So you can go over there and check it out, but this is cool. Finally, core lightning version 24.05, the infinitely divisible satoshi. We are pleased to announce the version 24.05 release of core lightning, code named the infinitely divisible satoshi.
Highlights for users. New runes. Remember we're talking about runes? New rune run restrictions can now be applied to invoices with the PIV restriction. So, I guess you can filter out runs and and that kind of stupid crap. Documentation is more thorough, there's stability fixes, there's increased file descriptor limits, there's prune node operation being better and supported. Highlight for developers, we won't get into that. Highlight for the network. That looks like that's about it. So, yeah. I don't know why they called it the infinitely divisible satoshi. That almost seems like they've got something up their sleeve because it's been, you know, theorized that here here's the thing about divisions of Satoshis, like half a Satoshi instead of just one.
The way the Bitcoin main chain protocol works is this. When we say that, let's say that we go all the way back to well, no, let's not. We'll take it to here. We're we're getting 3 point, what, 125? 3.125, Bitcoin per block being minted for the miners as their reward for mining? Okay. A Bitcoin is arbitrary. What's really being minted are whole numbers. Those are the Satoshis. So, when you win 1 Bitcoin, when we say 1 Bitcoin, what we really are talking about is 100,000,000 satoshis. Those are indivisible, as far as I know, on the main chain. We can't say. And I asked.
I said, one day and this is a long time ago before I was trying really trying to figure out what the hell this was all about. I asked a developer somewhere, and I can't remember where. I was like, how how does the Bitcoin protocol handle, double float point calculations? And that means I mean, essentially, it means a lot of the ability to to, calculate to a lot of decimal places, like 1.00150925, like pi, like 3.1415 and a infinite amount of numbers. Right? That's where you get into precision and whatnot. And computers get weird about precision. Whole numbers.
There's 1 satoshi or 2 satoshis. These are whole numbers. They're not 2.0 satoshis or 2.5 satoshis. That cannot happen on the main chain. But it can happen on layer twos like lightning. And I get the feeling that core lightning was, was CLN. I think that they might be hinting that they're going to pull something like that in the future where we start talking about serious precision after the decimal place in being able to keep account of how many Satoshis. And at that point, if that happens and that actually gets into mainstream news cycles, then the Stephanie Shelton's of the world or whatever her name is, Kelton. I can't remember. She MMT theorist that talk about, infinitely divisible pizza pies. Yeah. That's all gonna come back. So be aware that's gonna do it for the morning roundup.
Dad says jokes. A caveman and a bear walk into a bar. Bartender says, okay. What's your story? Caveman replies, bear with me. Alright. If you did not boost during the song, please go back, relisten to it, and boost them because the best way to continuously get better artists onto platforms like Wave Lake and away from legacy the the legacy music industry is to actually show them that this stuff works, that podcasting 2.0 works, that the lightning network works, that time splits work. If we don't do that, they're just gonna end up languishing over there with ASCAP and BMI and Sony and Columbia and whoever else is left in the music industry, and you really don't want them to have to do that. I'll see you on the other side.
This has been Bitcoin and, and I'm your host, David Bennett. I hope you enjoyed today's episode and hope to see you again real soon. Have a great day.
Discussion on the current market trends, including commodities, metals, and stock market indices.
Market analysis of Bitcoin price, transaction fees, and mempool status.
Using fake social media accounts
