Join me today for Episode 951 of Bitcoin And . . .
Topics for today:
- Standard Chartered Bank BTC Custody Service
- nubank's Altcoin Fails, D.U.H.
- Singapore Investigates Worldcoin Bros
- Sam Altman's Sand Battery and More
#Bitcoin #BitcoinAnd
The King Ranch Donation Pages:
https://www.ruralamericainaction.com/fundraising/save-king-ranch-and-agriculture-in-washington
https://www.givesendgo.com/Kingranch
Articles:
https://bitcoinmagazine.com/business/standard-chartered-bank-launches-bitcoin-and-crypto-custody-service-in-uae
https://cointelegraph.com/news/nubank-ends-own-crypto-token-trading
https://www.coindesk.com/policy/2024/09/11/singapore-investigating-seven-people-for-providing-worldcoin-services/
https://decrypt.co/248767/sam-altman-backed-exowatt-bets-big-on-data-center-batteries
- https://www.cnbc.com/futures-and-commodities/
- https://dashboard.clarkmoody.com/
- https://mempool.space/
- https://fountain.fm/show/eK5XaSb3UaLRavU3lYrI
- https://geyser.fund/project/thebitcoinandpodcast
https://cointelegraph.com/news/bitcoin-miner-solves-block-solo-180k-reward
https://www.nobsbitcoin.com/tails-v6-7/
https://www.nobsbitcoin.com/foundation-passport-firmware-v2-3-2/
Find the Bitcoin And Podcast on every podcast app here:
https://episodes.fm/1438789088
Find me on nostr
npub1vwymuey3u7mf860ndrkw3r7dz30s0srg6tqmhtjzg7umtm6rn5eq2qzugd (npub)
6389be6491e7b693e9f368ece88fcd145f07c068d2c1bbae4247b9b5ef439d32 (Hex)
Twitter:
https://twitter.com/DavidB84567
StackerNews:
stacker.news/NunyaBidness
Podcasting 2.0:
fountain.fm/show/eK5XaSb3UaLRavU3lYrI
Apple Podcasts:
tinyurl.com/unm35bjh
Mastodon:
https://noauthority.social/@NunyaBidness
Support Bitcoin And . . . on Patreon:
patreon.com/BitcoinAndPodcast
Find Lightning Network Channel partners here:
https://t.me/+bj-7w_ePsANlOGEx (Nodestrich)
https://t.me/plebnet (Plebnet)
Music by:
Flutey Funk Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0 License
creativecommons.org/licenses/by/3.0/
[00:00:00]
David Bennett:
Good morning. This is David Bennett, and this is Bitcoin and, a podcast where I try to find the edge effect between the worlds of Bitcoin, gaming, permaculture, podcasting, and education to gain a better understanding of all. Edge effect is a concept from ecology describing a greater diversity of life where the edges of 2 systems overlap. While species from either system can be found at the edge, it is important to note there are species in the overlap that exist in neither system, and that is what I seek to uncover. So join me in discovering the variety of things being created as Bitcoin rubs up against other systems. Woah. It's 10:13 AM Pacific Daylight Time.
Late today for various reasons I cannot control. It is September 11th 2024. Yeah. I know. It's yet another September 11th, which we've had to do this, what, for 24 well, 23 years now? September 11, 2001 was when those idiots decided to, I don't know, do whatever it is that they did with the World Trade Centers and all that kind of stuff and we have to relive it again and again and again. It's like humiliation rituals. So, you know, if if if that's something that you wanna celebrate, you know, more power to you. But honestly, I think it's time that we move on. And we're gonna do so with episode 951 of Bitcoin. And, well, let's just get right on into it. Ladies and gentlemen, Standard Chartered Bank has launched Bitcoin and crypto custody service in the United Arab Emirates. Bitcoin Magazine Nick Hoffman is writing, whoop de doo, standard charter, woo hoo, has officially launched its digital asset custody services in the UAE.
According to an announcement from the bank. The service has been licensed by the Dubai Financial Services Authority within the Dubai International Financial Center following a memorandum of understanding signed back in May of 2023, which I first told you about on this very show. Quote, the launch of our digital asset custody offering represents a pivotal moment not just for Standard Chartered, but for the financial services industry, said Bill Winters, the group chief executive of Standard Charter. Quote, we firmly believe get ready for the suit speak. We firmly believe that digital assets are not merely a passing trend but a fundamental shift in the fabric of finance. The very fabric of finance. I like linen myself. With this new service, we are strategically positioning ourselves at the forefront of this next evolution in the custody business.
Our robust infrastructure coupled with our expertise in the field allows us to provide a bridge between the world of financial services and the emerging digital asset ecosystem, end quote. Yeah. Put a tie on the suit speak The service aims to provide secure storage for digital assets with an initial focus on supporting Bitcoin and shitcoin numero uno The bank said it decided to launch its custody services in UAE quote due to its well balanced approach of digital asset adoption and financial regulation. Yeah. Apparently, the UAE in Dubai is kicking the shit out of anything that we have to offer here in the United States.
Brevin Howard Digital. The crypto division of Brevin Howard, an investment management platform specializing in global macro and digital assets, has been named as the very first client. According to Margaret Harwood Jones, Global Head of Financing and Security Services, this launch addresses the growing institutional interest in digital assets. Woah. Oh, more suit speak. After a period of intensive work and close collaboration with regulators both regionally and globally, we're thrilled to welcome Brevin Howard Digital as the first client of our digital asset custody offering, said Harwood Jones. Our offering goes beyond simple wallet services. It is a comprehensive solution that addresses the unique challenges of digital asset custody from a regulatory risk and prudential point of view. It is a game changer for institutional clients as we could support them with our traditional expertise to navigate the complexities of the digital asset space without compromising on the highest standards of security.
End quote. Said nothing. Said said nothing. It's just insane. Why do people still use suit speak? Can somebody please tell me? It doesn't work. It sounds stupid And it just completely lets me know that you're just given a sheet of paper written by some marketing dude who doesn't get paid probably squat and you're just reading from it because it's got all this flowery language. Stop it. Stop it. Stop it. Stop it. Standard Charter further stated that it plans to expand its custody services to include more shitcoins and is exploring more opportunities to launch its custody services in other global financial hubs. So there you go. And see, here's the thing. It's not just that this bank in UAE is is doing this. It's Standard Chartered.
This is a very old bank. It's a very large bank. It's $800,000,000,000 worth of bank. It's not this isn't like Bob's backyard bank. It's not Charlie's kinda sorta like a bank. This thing's been around forever. It is a stalwart bank. And they're getting into custody services, and they're not doing it in the United States. Why? Because we can't get a regulatory shit together. And even though you'll go, David, regulation is bad. And I agree with you, it still doesn't matter. Chartered Bank is not going to go to the United States and do business until we get our ever loving shit together when it comes to regulation in the Bitcoin space. It's just not gonna happen. But other banks do other things, like in Brazil, where a Brazilian bank has suspended its native crypto token trading because it had a 97% price drop.
We told you to get out of shit coins but we're gonna find out more. Cointelegraph, there's no way that I can pronounce the author's name and I don't want to do the author a disservice by completely blowing the name. So this person is writing, Nubank, one of Latin America's largest crypto banks and backed by Warren Buffett's Berkshire Hathaway, announced on September 10th the immediate suspension of trading of NuCoin, its native cryptocurrency, I e, Shitcoin. The token's price has dropped over 97% over the last year. Oh, we could have told you that, pal. Nubank announced the creation of the NuCoin token on the Polygon blockchain back in October of 2022.
And almost 2 years after that announcement, the bank has closed its trading. The bank has given customers who have at least at least 10 real in new coin the option to converting them to Bitcoin or Stablecoin USDC by December 9th. As Cointelegraph Brazil reported, if a user does not proceed with the conversion, the cryptocurrencies will be kept for accumulation and future benefit from the rewards program. To protect you and all participants for potential volatility in the market value of new coins due to potential reactions to this update, we have chosen to suspend your trading immediately, NewBank said in an email to customers. They didn't even give them a chance, man.
According to the coin market cap data, Newcoin's last traded price was $0.0158 That's 1.5¢ Wow. The token has dropped over 97% over the last year. On April 22nd, it traded at an all time high of 59 pennies. Wow. What a shit coin. New bank's cryptocurrency services started in May of 2022. It announced that it would allocate 1% of its net assets to Bitcoin. In May of 2022, the bank announced a partnership with Paxos to enable its customers to buy, sell, and store shitcoins directly through Nubank. In July of this year, Nubank said it had 100,000,000 customers with operations in Brazil, Mexico, and Colombia.
A November 22nd statement by Nubank said it offered 14 cryptocurrencies in addition to their own shitcoin. According to analysts from Forbes, Argentina has been at the forefront of cryptocurrency adoption in the Western Hemisphere, driven by a staggering 276% annual inflation rate. The July 9th report highlighted that out of a 130,000,000 visitors to 55 of the largest exchanges globally, 2,500,000 were from Argentina. And then they get into a bit of other world news. But the big news here is that NewBank, which I told you about on this very show when they announced all this crap, has suspended trading of its very own internal shitcoin.
And this, ladies and gentlemen, is why we Bitcoin. I'm just just saying, man. I'm just saying. Okay, so Singapore. Let's let's go over into, the Pacific region. Singapore investigating the 7 people for providing world coin services. I guess if you're a friend of Sam Sam Altman Fried, you're gonna get in trouble. This is CoinDesk and it's written by Amitaj Singh. Singapore is investing or investigating 7 subjects for offering services of buying or selling Worldcoin accounts and tokens, which is an offense, a written reply in parliament by the government revealed on Tuesday.
OpenAI founder Sam Altman Fried, well, his name is actually Sam Altman, but whatever, has founded the retina scanning crypto startup Worldcoin. 2 Singapore ministers of parliament, Rachel Ong and Derek Ga, raised questions about whether the sale of Worldcoin in the country has any regulations supporting it or any risks associated with it. Gan Kim Yong, deputy prime minister and minister for trade and industry, and Chairman of Monetary Authority of Singapore responded to say that while Worldcoin does not perform a payment service under Singapore regulations, people buying or selling Worldcoin accounts and tokens may be acting illegally by providing a payment service as unlicensed individuals.
On August 7th, Singapore's police warned the public against giving away or selling their Worldcoin accounts or tokens for fear of it being used in criminal activities. Quote, neither Worldcoin nor Tools for Humanity are under investigation by police in Singapore. Individuals being investigated by authorities for possible violation of the Payment Services Act are not affiliated with Worldcoin or its operations in any way, a spokesperson for Tools For Humanity said in a statement. Quote, the Worldcoin Foundation in Singapore and around the world operates in compliance with relevant laws and regulations pertaining to all aspects of Worldcoin project, including the Payment Services Act in Singapore.
Any reports or speculation to the contrary are false and misleading. No, I think Here's what's Here's the fun thing about this. It's yet one more act by one more country to try to get rid of Worldcoin. And you know where Worldcoin is going? Nowhere. Why? Because people just they're they're destitute at this point. They're reaching for anything. They will mortgage anything that they can get their hands on. They will eat any cat that they can find if it will give them at least the inkling that there is a light at the end of the tunnel. And this is why I hate Sam Altman Fried because he knows that.
He's preying upon the destituteness of humanity with this Worldcoin project. And these countries don't they don't have enough money to fight Sam Altman Fried, right? All they can do they can do what they can, but Worldcoin will not go away. And people will continue to scan their retina and Sam Altman will continue to sell that data and it's going to get worse and worse and worse and worse and the only reason why is because of how destitute so many people actually are. This is beyond rent seeking this is soul seeking. He is a soul seeker and he's not going to do right by the souls that he collects. He's going to mortgage them for his own purposes.
Okay, so staying on Sam Altman, he's got another project in the works. Sam Altman backed Exawatt is betting big on data center batteries not the data centers themselves, although I guarantee you that shit's next we're talking about data center batteries. I I we keep getting promised, like, these big ass batteries are gonna be able to power, like, super amounts of of energy hungry machines. I have yet to see one. Let's see if let's see if they've produced one yet. Will McCurdy out of decrypt.co. Exawatt, a Sam Altman backed startup, has announced plans to help the data center industry deal with its enormous energy usage using a new approach to solar power. The news comes after the Miami based startup raised a $20,000,000 seed round led by venture capital firms, you guessed it, a16z and Atomic as well as OpenAI CEO Altman himself in April.
The Miami based company uses what is called a modular system to generate, store, and dispatch clean energy. The announcement comes as data center electricity usage is on a path to double by 2026 according to a recent International Energy Agency report, in part due to the increased demand for power intensive workloads as a result of the use case such as generative AI and Bitcoin mining. By 2026, the global footprint of data centers could rise by the equivalent of the entire power consumption of a country like Germany by somewhere between 650 to 1050 terawatt hours if the report's estimates are correct in contrast to traditional solar panels which directly convert the sun into electricity Exawatt's flagship product, the P3 converts the sun's energy directly into heat stored inside of a thermal battery.
That battery or the battery that is made out of clay and ceramic composites which can allegedly store heat for months per an interview with Bloomberg. K. How does this help us with electricity? Exawatt hasn't specifically named any companies as clients at this stage but has claimed it has a backlog of 2. No, 1.2 gigawatts across data centers in the US. In an interview attributing high demand to the AI boom, Hannon Parvizyan, the company's co founder and CEO, told the news outlet that the company's first energy project is set to go live at a location in West Texas, which doesn't need any more heat, later this year with an undisclosed crypto mining partner. The company said that its unsubsidized cost of energy is 4 United States pennies per kilowatt hour, which is roughly comparable with conventional energy sources like coal. However, the new technology is unlikely to be a complete panacea to the energy woes faced by the United States data center industry.
Parvizian told Bloomberg that only about 60% of the US has the necessary level of sunlight to make the company's sun based technology viable. And you know what was never said in this article? Is how storing heat in ceramic based batteries is going to produce electricity? No. No. Now, I'll give you this. Let's say that you got solar panels that are just collecting heat, okay, and transferring that heat via, you know, I don't know, maybe glycol or something like that into an underground heat storage chamber. And it's you can get it really hot, but you're not gonna you're probably not gonna get it up to boiling. You might get it close and let's say you do. So you got this glycol circulating in copper tubes that are in this huge amount of water and it's heated it up.
If you're able to take a little bit of that water off and keep it hot so you probably, you know, either through well insulated pipes or a very short pipe throw you take it and you put it into a like a cylinder and that cylinder is like I don't know really hot. Like has like 5 butane torches like just burning right on it. And somehow just a little bit of it just squirts just a little bit of of very very hot water almost instantly it'll turn to steam. And you could drive a steam engine which would then in turn drive a flywheel which in turn would drive like some type of DC generator and then you could convert that to alternating current. And you would use very little water you could recycle the hot steam or what you know after the piston is is is expelled all the steam out of its piston you condense that back into the water reservoir This actually makes some sense, but nothing has been said as to how this shit works.
Because if you were to do it that way, if you get water really hot and you just add just the barest amount of heat to get it to go to boiling and then to steam. Honestly, that's not a bad idea. Right? Because you're only you're using the barest amount of water. You're using the barest amount of extra energy just to give it that little push over the cliff where it turns into steam and the minute it does that it's going to expel a piston and then all of a sudden if you know how steam engine works we're off to the races but none of this was actually said at all. I have no idea what Sam Altman is thinking about storing heat.
There seems to be nothing that I can find as to how this ends up helping data centers and their electricity. Now if you're gonna use it to heat the data center in the middle of winter, you don't need that. You can just use the the the expelled air from the, miners themselves. But you're really not gonna want that, so that's not it. So somebody, please, for the love of all that is holy, could somebody tell me how this shit is supposed to generate electricity? Because I'm just missing it. So let's shift gears and run the numbers. Well, oil looks like it's doing better today, I guess.
After a 2.8% rise in West Texas Intermediate, it is now sitting at $67.62. Brent Norsee is up 2.3% to $70.78. Natural gas is up 2 a quarter. Gasoline is up 1.18%, back up to a buck 89 a gallon. And, again, good luck actually getting that price. Gold is the only shiny metal rock not doing well, but it's essentially just moving sideways. $2542.30 Silver is up 1.1%. Platinum is up 1.4. Copper is up 1.35. And palladium is up a full 5 points and a little bit beyond. Ag, mostly in the green today. Chocolate doing well. 6.64 percent to the upside. Biggest loser is coffee. 0.12 percent to the downside. So honestly, ag looking good today. Let's see. Livestock is, well, depending on what side of the trade you're on, is looking good. Live cattle is up 0.31%.
Lean hogs are up 1.62. Feeder cattle up 0.61%. However, legacy equity market's not doing anywhere close to as well as what we've seen. The Dow is down a half point. S and P is down 0.1. NASDAQ is doing okay. It's up half a point, but the S and P Mini is down a full quarter of a point. On to our favorite asset in the world is Bitcoin, which after a slump, I guess because of the, Trump Harris debate, we're back up to $57,580. That is a $1,14,000,000,000 market cap, And you can now get 22.8 ounces of your favorite shiny metal rock with your 1 Bitcoin of which there are 19,752,605,490 of, and average fees per block remain low at 0.05 BTC on a per block basis.
And there are a 113 blocks carrying 221,000 unconfirmed transactions waiting to clear at woo doggy. 7 satoshis per v byte for high priorities. Low priority gonna get in at 5. So we are still in single digit territory. From nahstore nahstore, Which was episode 950 of Bitcoin and it had some problems on fountain. But first, Pies De Pleb with 420 satoshi says, thank you, sir. Fountain is still all fucked up for me. So I've been listening on Breeze and boosting on Domus. Yes. Pies, I'm sorry that you've been having the kind of issues that you've been having with Fountain. Please please please make sure that Oscar Mary at Oscar Mary on, on Noster knows.
Because if he doesn't know that you have a problem and what your platform is, he can't help fix it. Just saying. Oh, and by the way, no thank you. God's death with 537 says, thank you, sir. No, thank you. And that's it. And here's the reason that I didn't get very many boosts. It wasn't until, I guess, either very very late last night or sometime this morning that the episode 950 entitled Nostar of the Bitcoin and podcast actually made it to fountain. And by extension, actually made it to any podcasting 2.0 app, I suppose, because all of them are looking to podcast index and my episode, Doster episode 950, did not get to podcast index yesterday until very very late last night or very very early this morning.
Okay. So what the hell happened? I don't know. I really don't. I did everything the same way that I normally do. I record the show. I render the show down into like an mp3. And then I take that and I put it over into my pod my podcast hosting company which is podhome.fm. If you're not you if you're a podcaster and you want to change your host your platform host go to podhome.fm. They've been really really good. It's podcasting 2.0 enabled. It's got all kinds of nice analytics. It's a slick interface. But yesterday, for me, something happened. And I don't think it was podhome.fms fault. I did everything the exact same way.
They the the platform acted exactly the way that I thought it was going to act. There was no surprises, so I don't know what happened. But whatever happened well, I do know what happened. I just don't know exactly what it means. We'll get to that in a sec. The show never got to fountain and several other podcasting 2.0 applications so nobody could boost, nobody could stream satoshis to it. I gave, like, I gave a link when I did the show announcement. I gave a link to Apple Podcasts for God's sakes. Right? I mean, this is I felt dirty. I really did. I wasn't able to give the direct link to fountain, which is what I like to do because I want people to experience podcasting 2.0, and maybe it forces a touch point on people to go, well, I have to I have to do this. I don't wanna go search for it. Maybe, you know, I don't give, like, every link under the sun to every single podcasting app. I want people I want to funnel people to Fountain or to any podcasting 2.0 app for that matter because it's just a better experience and if you're not using podcasting 2.0, woah doggy are you missing out.
But something happened. What happened yesterday? Well, let's let's ask let's ask somebody that I know. Let's ask Adam Curry. Adam Curry, the podfather. Essentially, the creator of podcasting all the way back to its inception. Before we had the iPhone, we had something called the ipod. And that was the impetus that caused Adam Curry to go, I'm gonna leverage this tool so that, people will be able to listen to whatever it is that I want them to listen to, and they can use their iPad to do it with. And boom, podcasting was born.
He's not done yet because he's the guy behind podcasting 2.0. So I asked Adam Curry on podcast index dot social, which is a mastodon, instance. Yes. I use something other than Nostr and it's because Adam Curry doesn't spend a lot of time on Nostr. I had to go where he was because he's the guy that could help me. So I ask or actually be basically, I say Adam, at Adam, and at Dave Jones because Dave Jones is the other side of the podcasting 2.0 equation. He's sort of like the back end, whereas Adam Curry sort of like the front end. You can kind of look at it that way. I think that that actually works. I say I tag both those cats in the podcast index dot social mastodon instance and say, FYI, what was hold on.
Oh, I say FYI, today's episode has yet to propagate to podcast index, and it's been a couple of hours. No worries. It's just that I've never seen this happen before and thought you would want to know. And then a guy writes back and says, the pod ping definitely went out. This isn't Adam. This is Barry Lushbrets from Podhome, which is my podcast hosting company. He says the pod ping definitely went out. And for the duplicate oh, there was another question. I don't want to confuse you. I have a duplicate entry and I don't want to confuse you so I'm gonna go he basically said pod ping went out. So Adam Curry writes and says, I think something is wrong.
I issued a reset just to make sure and it's not being scanned. Dave will have to take a look and he's talking about Dave Jones. Let's see. Well, hold on. Yeah, he's talking about doing a manual scan or scan on the Podhome RSS feed, which I gave him, right? So that he would know what was going on. So he does does a manual scan and he comes back and says something's wrong. I don't know. I think I maybe I broke podcast index. I'm not sure. But he said that the Adam comes back and says other feeds are actually updating. Something must be borking the system. Is there an iTunes ID or is the iTunes ID that you gave me correct? And he wants to he asked asked me earlier for that information.
So Dave says he'll he comes onto the this thread and says he's gonna check it and then he just says resolved and that was 6 hours ago. So, so the whole thing is is that I asked Adam if I broke it or what went wrong and he said that it wasn't me. He said it's called it was a really bad enclosure URL bork the feed polar and p o l l e r is the spelling on that. So it it it's I guess what he's talking about is the scan is basically pulling the feed to pull, like my RSS feed, to pull the episodes out. And he says, once that that the poller was fixed, everything started updating again.
And of course, he is not lying because now, Nostar episode 950 is back into the fountain feed. So if you want to go and boost me from yesterday's show, you can go back and do it through fountain because it is actually working again. Okay. So I just want to let everybody know why the hell yesterday's show wasn't on fountain and, well, that's why. And that's the weather report. Welcome to part 2 of the news that you can use. Another day and another miner solves a block all by himself, grabbing a $180,000 block reward, according to Steven Cottey from Cointelegraph.
A Bitcoin miner has achieved the rare feat of processing a block all by their lonely, which netted a payday of around $180. Block 860-749, mined on September 10th, contained 500 no, 5,935 transactions with a reward of 3.169 Bitcoin worth around 182,000 give or take. Excuse me. Despite its name, SoloCK is a mining pool combining the hash rate of multiple smaller miners. But it only distributes the reward to the one responsible for solving the block. In this case, the successful miner used 629 petahashes worth of hashrate when the block was solved. A tiny 0.098 percent of the total power securing the blockchain, which clocked in at 644 exahashes per second, data from Bitcoin transaction tracker YChart shows.
The Bitcoin hash rate recently hit a new all time high of 742 exahashes, per second on September 1st jumping 62% from a year ago a higher hash rate requires miners to use more compute power increases the energy cost and increases verification and transaction times making it challenging for solo miners to validate a block successfully. A solo miner has solved a block only 290 times out of the 859,000 blocks produced since Bitcoin went live in 2,009. Large mining firms such as Bit Digital, Riot Blockchain, and Marathon Digital gradually or generally validate the most blocks as they each command massive amounts of hash power.
The Solo CK pool has been responsible for solving another 14 other blocks in the last year, receiving 59.3 bitcoin for the effort currently worth $3,400,000 A miner from the solo c k pool also processed a block on August 30th, earning the miner nearly $200,000. Another solo miner from solo c k also hit the jackpot after they solved block number 853-742, netting a reward of around $210,000 back on July 25th. Okay. So again, I wanna I'm bringing this up because I want I didn't get into a scuffle with a guy over on Noster, but he there was a gentleman that seemed and and it's hard to tell if people are upset just by their writing or if they're being sarcastic.
If you can't see people's facial expressions, see their body language, hear their tonalities and their tones of voices, then you're not getting 90% of the communicate the communicative story. Right? Because communication is the whole package. It's not only the words you say, it's how you say them. It's how your facial expressions look. It's all of that. So it's very very difficult to determine whether or not this guy was just being a jackass. Now I'm not gonna read any of the notes, but what I am gonna say is that he seems to think that solo mining is just fucking stupid.
Okay. I don't disagree with him or I don't begrudge him his particular attitude. Right? Anybody's free to think anything at all. I disagree. I definitely disagree, but not on the fact that you'll I'm not saying go buy a bit ax right now because you have a chance to win a block all by yourself. That's not what this is about. If you are interested in the mining aspect of Bitcoin, then never before has it been cheaper for you to actually experiment with that by getting something like a bitaxe? Because it will, like, use like, how do we use Stratum V2? If you have a bitaxe, you can plug into that. How do you how do you jump from pool to pool?
Well if you have a bitaxe you can do that you and you can do it for like like anywhere between $250500 I don't know what the gamma is gonna cost the the new the new outing from from bitaxe is called the bitaxe gamma I haven't seen a price for one yet but let's say $500 $600 and that's their top of the line one man it's using like the brand new ASIC chip and all kinds of stuff But if you just get their middle of the line one, you can pick one up for like $200. It's not bad. And if you learn how if you use this tool to get familiar just a just a foot in a pond of mining just to see if you like it or better yet because you want to understand it not because you want to get into mining you just want to know what makes the blockchain actually tick well that's mining And with something like BitX you can learn how to do it. And you can do it fairly cheaply.
And sure, you may never win a block. The chances are astronomically against you winning a block. And and for those that say, well, you're adding you're adding security to the chain. Yeah. But it's a drop in the bucket. So I don't even look at that as a reason to go do solo mining. I look at it from the standpoint of how does a miner work? How hot does a single chip get? How much energy does a single chip use? What kind of stuff? Where do you need to put this thing? How do you connect to a pool? Is there a way that you can automate jumping from pool to pool depending on how much hash rate that particular pool has? Like, let's say you wanna be an ethical miner and you how do you set up a Biddaxe to go from marathon mining when it has over 50% of the hash rate? Let's let's pretend.
And so how do you make your miner automatically jump in the middle of the night while your SAWN logs in bed or doing other things? How do you get it to just automatically sense the hash rate of a single pool, compare it to all the hash rate, do a calculation and say, hey, we're 51% on this tool on this pool, I'm jumping ship, I'm gonna go to this other pool so that we continuously balance that out. This is these are the ways that you learn how to do that shit. I personally think that that is of high amounts of value. Hell, one day it might even ask actually land your ass a job because you understand at least the fundamental aspects of mining. And you did it by just learning it yourself with a $250 rig. So I disagree at a fundamental level that solo mining is bullshit.
I think that there's a very high return value if you do it the right way and for the right reasons. If you're doing it because you think you're actually going to get a full block reward, you're probably smoking a little bit of hopium. Although it could happen. It happened to these guys. But if you're going at it because you want to learn how to do something, that's why I got that's why I got a Bitcoin full node. And then that's why I set up a lightning node. I wanted to learn how to do it. I wanted to know what does it mean for my data throughput? How much energy does it cost? Turns out it doesn't cost shit. Not in the grand scheme of things anyway.
I think that that's valuable information. And the only way you're gonna get that is by actually doing it yourself. Maybe you'll do it on computers that have tails. You know, because tails version 6.7 has been released, has secured chat rooms via onion share. Tails is a portable operating system. Alright? So this is this is something you could just stick in a laptop and boot up and or well, you boot the whole machine up with this thing stuck in its USB port and you get a completely secure operating system. It won't be able to do all the stuff that you do on your other operating system, but if you wanna send if you wanna do secure shit, tails, from what I've heard because I haven't used it myself yet, seems to be the way to go. And then you pull out the tails thing and close down the computer and then when you reboot the computer it reboots under your own operating system. It is like I really want to try this, but it's a portable operating system that protects against surveillance and censorship.
It includes made this particular release includes major update of onion share. If is so it updates Tor Browser to 13.5.3. It updates Thunderbird to 115.15.0. It updates onion share from 2.2 all the way up to 2.6, which now includes a feature to create an anonymous chat room. Nice. Keep the firewall on even during shutdown. Stop reporting an error when starting an Old Tales USB stick with a system partition of 2.5 gigabytes. I haven't used it, so I don't really know what that last one meant. But there you go. If you are a Tails user or you are looking to possibly get into using something like Tails, here's the update for you. Now, last thing up for today, it's gonna be a short show, Foundation Passport version 2.3.2.
Ephemeral seed support. Passport by Foundation is a secure open source hardware wallet for Bitcoin that puts extra focus on usability and design. We're excited to announce that this latest version of Passport firmware 2.3.2 is now live. This version of the firmware brings ephemeral seed support. It adds the ability to sign messages via QR codes and introduces a connection flow to or for fully noted. So ephemeral seeds. What's new? It's ephemeral seeds and they can replace or work with a permanent seed phrase on passport. When you turn on passport, scan or enter a seed QR to use it and it will be forgotten when passport is turned off.
You can also temporarily load a seed while keeping a main seed. Ephemeral seeds can also be loaded from key manager alongside a permanent seed to assist others and they will be forgotten after use. Oh, nice. Okay. There's sign messages via QR code. Okay. There are multiple services in the European Union that require users to sign a message as proof of address ownership. This is now possible with passport. Then there's fully noted has been added to the wallet connection list. So fully noted is an open source iOS and Mac app for managing Bitcoin nodes, lightning channels, and offline wallets.
And then there's a whole list of improvements and, fixes. So they fixed a lot of bugs and it's a fairly long list too. So if you are a Passport user, version 2.3.2 including ephemeral seed support, is now out. Alright. So there's the show. I know it's late today. I'm sorry for that. I'm just hoping that we don't have a scan of my RSS feed fail from podcast index so that it gets up to fountain app as quick as humanly possible. So keep your fingers crossed brothers and sisters and I will see you on the other side. This has been Bitcoin, and and I am your host, David Bennett. I hope you enjoyed today's episode and hope to see you again real soon.
Have a great day.
Good morning. This is David Bennett, and this is Bitcoin and, a podcast where I try to find the edge effect between the worlds of Bitcoin, gaming, permaculture, podcasting, and education to gain a better understanding of all. Edge effect is a concept from ecology describing a greater diversity of life where the edges of 2 systems overlap. While species from either system can be found at the edge, it is important to note there are species in the overlap that exist in neither system, and that is what I seek to uncover. So join me in discovering the variety of things being created as Bitcoin rubs up against other systems. Woah. It's 10:13 AM Pacific Daylight Time.
Late today for various reasons I cannot control. It is September 11th 2024. Yeah. I know. It's yet another September 11th, which we've had to do this, what, for 24 well, 23 years now? September 11, 2001 was when those idiots decided to, I don't know, do whatever it is that they did with the World Trade Centers and all that kind of stuff and we have to relive it again and again and again. It's like humiliation rituals. So, you know, if if if that's something that you wanna celebrate, you know, more power to you. But honestly, I think it's time that we move on. And we're gonna do so with episode 951 of Bitcoin. And, well, let's just get right on into it. Ladies and gentlemen, Standard Chartered Bank has launched Bitcoin and crypto custody service in the United Arab Emirates. Bitcoin Magazine Nick Hoffman is writing, whoop de doo, standard charter, woo hoo, has officially launched its digital asset custody services in the UAE.
According to an announcement from the bank. The service has been licensed by the Dubai Financial Services Authority within the Dubai International Financial Center following a memorandum of understanding signed back in May of 2023, which I first told you about on this very show. Quote, the launch of our digital asset custody offering represents a pivotal moment not just for Standard Chartered, but for the financial services industry, said Bill Winters, the group chief executive of Standard Charter. Quote, we firmly believe get ready for the suit speak. We firmly believe that digital assets are not merely a passing trend but a fundamental shift in the fabric of finance. The very fabric of finance. I like linen myself. With this new service, we are strategically positioning ourselves at the forefront of this next evolution in the custody business.
Our robust infrastructure coupled with our expertise in the field allows us to provide a bridge between the world of financial services and the emerging digital asset ecosystem, end quote. Yeah. Put a tie on the suit speak The service aims to provide secure storage for digital assets with an initial focus on supporting Bitcoin and shitcoin numero uno The bank said it decided to launch its custody services in UAE quote due to its well balanced approach of digital asset adoption and financial regulation. Yeah. Apparently, the UAE in Dubai is kicking the shit out of anything that we have to offer here in the United States.
Brevin Howard Digital. The crypto division of Brevin Howard, an investment management platform specializing in global macro and digital assets, has been named as the very first client. According to Margaret Harwood Jones, Global Head of Financing and Security Services, this launch addresses the growing institutional interest in digital assets. Woah. Oh, more suit speak. After a period of intensive work and close collaboration with regulators both regionally and globally, we're thrilled to welcome Brevin Howard Digital as the first client of our digital asset custody offering, said Harwood Jones. Our offering goes beyond simple wallet services. It is a comprehensive solution that addresses the unique challenges of digital asset custody from a regulatory risk and prudential point of view. It is a game changer for institutional clients as we could support them with our traditional expertise to navigate the complexities of the digital asset space without compromising on the highest standards of security.
End quote. Said nothing. Said said nothing. It's just insane. Why do people still use suit speak? Can somebody please tell me? It doesn't work. It sounds stupid And it just completely lets me know that you're just given a sheet of paper written by some marketing dude who doesn't get paid probably squat and you're just reading from it because it's got all this flowery language. Stop it. Stop it. Stop it. Stop it. Standard Charter further stated that it plans to expand its custody services to include more shitcoins and is exploring more opportunities to launch its custody services in other global financial hubs. So there you go. And see, here's the thing. It's not just that this bank in UAE is is doing this. It's Standard Chartered.
This is a very old bank. It's a very large bank. It's $800,000,000,000 worth of bank. It's not this isn't like Bob's backyard bank. It's not Charlie's kinda sorta like a bank. This thing's been around forever. It is a stalwart bank. And they're getting into custody services, and they're not doing it in the United States. Why? Because we can't get a regulatory shit together. And even though you'll go, David, regulation is bad. And I agree with you, it still doesn't matter. Chartered Bank is not going to go to the United States and do business until we get our ever loving shit together when it comes to regulation in the Bitcoin space. It's just not gonna happen. But other banks do other things, like in Brazil, where a Brazilian bank has suspended its native crypto token trading because it had a 97% price drop.
We told you to get out of shit coins but we're gonna find out more. Cointelegraph, there's no way that I can pronounce the author's name and I don't want to do the author a disservice by completely blowing the name. So this person is writing, Nubank, one of Latin America's largest crypto banks and backed by Warren Buffett's Berkshire Hathaway, announced on September 10th the immediate suspension of trading of NuCoin, its native cryptocurrency, I e, Shitcoin. The token's price has dropped over 97% over the last year. Oh, we could have told you that, pal. Nubank announced the creation of the NuCoin token on the Polygon blockchain back in October of 2022.
And almost 2 years after that announcement, the bank has closed its trading. The bank has given customers who have at least at least 10 real in new coin the option to converting them to Bitcoin or Stablecoin USDC by December 9th. As Cointelegraph Brazil reported, if a user does not proceed with the conversion, the cryptocurrencies will be kept for accumulation and future benefit from the rewards program. To protect you and all participants for potential volatility in the market value of new coins due to potential reactions to this update, we have chosen to suspend your trading immediately, NewBank said in an email to customers. They didn't even give them a chance, man.
According to the coin market cap data, Newcoin's last traded price was $0.0158 That's 1.5¢ Wow. The token has dropped over 97% over the last year. On April 22nd, it traded at an all time high of 59 pennies. Wow. What a shit coin. New bank's cryptocurrency services started in May of 2022. It announced that it would allocate 1% of its net assets to Bitcoin. In May of 2022, the bank announced a partnership with Paxos to enable its customers to buy, sell, and store shitcoins directly through Nubank. In July of this year, Nubank said it had 100,000,000 customers with operations in Brazil, Mexico, and Colombia.
A November 22nd statement by Nubank said it offered 14 cryptocurrencies in addition to their own shitcoin. According to analysts from Forbes, Argentina has been at the forefront of cryptocurrency adoption in the Western Hemisphere, driven by a staggering 276% annual inflation rate. The July 9th report highlighted that out of a 130,000,000 visitors to 55 of the largest exchanges globally, 2,500,000 were from Argentina. And then they get into a bit of other world news. But the big news here is that NewBank, which I told you about on this very show when they announced all this crap, has suspended trading of its very own internal shitcoin.
And this, ladies and gentlemen, is why we Bitcoin. I'm just just saying, man. I'm just saying. Okay, so Singapore. Let's let's go over into, the Pacific region. Singapore investigating the 7 people for providing world coin services. I guess if you're a friend of Sam Sam Altman Fried, you're gonna get in trouble. This is CoinDesk and it's written by Amitaj Singh. Singapore is investing or investigating 7 subjects for offering services of buying or selling Worldcoin accounts and tokens, which is an offense, a written reply in parliament by the government revealed on Tuesday.
OpenAI founder Sam Altman Fried, well, his name is actually Sam Altman, but whatever, has founded the retina scanning crypto startup Worldcoin. 2 Singapore ministers of parliament, Rachel Ong and Derek Ga, raised questions about whether the sale of Worldcoin in the country has any regulations supporting it or any risks associated with it. Gan Kim Yong, deputy prime minister and minister for trade and industry, and Chairman of Monetary Authority of Singapore responded to say that while Worldcoin does not perform a payment service under Singapore regulations, people buying or selling Worldcoin accounts and tokens may be acting illegally by providing a payment service as unlicensed individuals.
On August 7th, Singapore's police warned the public against giving away or selling their Worldcoin accounts or tokens for fear of it being used in criminal activities. Quote, neither Worldcoin nor Tools for Humanity are under investigation by police in Singapore. Individuals being investigated by authorities for possible violation of the Payment Services Act are not affiliated with Worldcoin or its operations in any way, a spokesperson for Tools For Humanity said in a statement. Quote, the Worldcoin Foundation in Singapore and around the world operates in compliance with relevant laws and regulations pertaining to all aspects of Worldcoin project, including the Payment Services Act in Singapore.
Any reports or speculation to the contrary are false and misleading. No, I think Here's what's Here's the fun thing about this. It's yet one more act by one more country to try to get rid of Worldcoin. And you know where Worldcoin is going? Nowhere. Why? Because people just they're they're destitute at this point. They're reaching for anything. They will mortgage anything that they can get their hands on. They will eat any cat that they can find if it will give them at least the inkling that there is a light at the end of the tunnel. And this is why I hate Sam Altman Fried because he knows that.
He's preying upon the destituteness of humanity with this Worldcoin project. And these countries don't they don't have enough money to fight Sam Altman Fried, right? All they can do they can do what they can, but Worldcoin will not go away. And people will continue to scan their retina and Sam Altman will continue to sell that data and it's going to get worse and worse and worse and worse and the only reason why is because of how destitute so many people actually are. This is beyond rent seeking this is soul seeking. He is a soul seeker and he's not going to do right by the souls that he collects. He's going to mortgage them for his own purposes.
Okay, so staying on Sam Altman, he's got another project in the works. Sam Altman backed Exawatt is betting big on data center batteries not the data centers themselves, although I guarantee you that shit's next we're talking about data center batteries. I I we keep getting promised, like, these big ass batteries are gonna be able to power, like, super amounts of of energy hungry machines. I have yet to see one. Let's see if let's see if they've produced one yet. Will McCurdy out of decrypt.co. Exawatt, a Sam Altman backed startup, has announced plans to help the data center industry deal with its enormous energy usage using a new approach to solar power. The news comes after the Miami based startup raised a $20,000,000 seed round led by venture capital firms, you guessed it, a16z and Atomic as well as OpenAI CEO Altman himself in April.
The Miami based company uses what is called a modular system to generate, store, and dispatch clean energy. The announcement comes as data center electricity usage is on a path to double by 2026 according to a recent International Energy Agency report, in part due to the increased demand for power intensive workloads as a result of the use case such as generative AI and Bitcoin mining. By 2026, the global footprint of data centers could rise by the equivalent of the entire power consumption of a country like Germany by somewhere between 650 to 1050 terawatt hours if the report's estimates are correct in contrast to traditional solar panels which directly convert the sun into electricity Exawatt's flagship product, the P3 converts the sun's energy directly into heat stored inside of a thermal battery.
That battery or the battery that is made out of clay and ceramic composites which can allegedly store heat for months per an interview with Bloomberg. K. How does this help us with electricity? Exawatt hasn't specifically named any companies as clients at this stage but has claimed it has a backlog of 2. No, 1.2 gigawatts across data centers in the US. In an interview attributing high demand to the AI boom, Hannon Parvizyan, the company's co founder and CEO, told the news outlet that the company's first energy project is set to go live at a location in West Texas, which doesn't need any more heat, later this year with an undisclosed crypto mining partner. The company said that its unsubsidized cost of energy is 4 United States pennies per kilowatt hour, which is roughly comparable with conventional energy sources like coal. However, the new technology is unlikely to be a complete panacea to the energy woes faced by the United States data center industry.
Parvizian told Bloomberg that only about 60% of the US has the necessary level of sunlight to make the company's sun based technology viable. And you know what was never said in this article? Is how storing heat in ceramic based batteries is going to produce electricity? No. No. Now, I'll give you this. Let's say that you got solar panels that are just collecting heat, okay, and transferring that heat via, you know, I don't know, maybe glycol or something like that into an underground heat storage chamber. And it's you can get it really hot, but you're not gonna you're probably not gonna get it up to boiling. You might get it close and let's say you do. So you got this glycol circulating in copper tubes that are in this huge amount of water and it's heated it up.
If you're able to take a little bit of that water off and keep it hot so you probably, you know, either through well insulated pipes or a very short pipe throw you take it and you put it into a like a cylinder and that cylinder is like I don't know really hot. Like has like 5 butane torches like just burning right on it. And somehow just a little bit of it just squirts just a little bit of of very very hot water almost instantly it'll turn to steam. And you could drive a steam engine which would then in turn drive a flywheel which in turn would drive like some type of DC generator and then you could convert that to alternating current. And you would use very little water you could recycle the hot steam or what you know after the piston is is is expelled all the steam out of its piston you condense that back into the water reservoir This actually makes some sense, but nothing has been said as to how this shit works.
Because if you were to do it that way, if you get water really hot and you just add just the barest amount of heat to get it to go to boiling and then to steam. Honestly, that's not a bad idea. Right? Because you're only you're using the barest amount of water. You're using the barest amount of extra energy just to give it that little push over the cliff where it turns into steam and the minute it does that it's going to expel a piston and then all of a sudden if you know how steam engine works we're off to the races but none of this was actually said at all. I have no idea what Sam Altman is thinking about storing heat.
There seems to be nothing that I can find as to how this ends up helping data centers and their electricity. Now if you're gonna use it to heat the data center in the middle of winter, you don't need that. You can just use the the the expelled air from the, miners themselves. But you're really not gonna want that, so that's not it. So somebody, please, for the love of all that is holy, could somebody tell me how this shit is supposed to generate electricity? Because I'm just missing it. So let's shift gears and run the numbers. Well, oil looks like it's doing better today, I guess.
After a 2.8% rise in West Texas Intermediate, it is now sitting at $67.62. Brent Norsee is up 2.3% to $70.78. Natural gas is up 2 a quarter. Gasoline is up 1.18%, back up to a buck 89 a gallon. And, again, good luck actually getting that price. Gold is the only shiny metal rock not doing well, but it's essentially just moving sideways. $2542.30 Silver is up 1.1%. Platinum is up 1.4. Copper is up 1.35. And palladium is up a full 5 points and a little bit beyond. Ag, mostly in the green today. Chocolate doing well. 6.64 percent to the upside. Biggest loser is coffee. 0.12 percent to the downside. So honestly, ag looking good today. Let's see. Livestock is, well, depending on what side of the trade you're on, is looking good. Live cattle is up 0.31%.
Lean hogs are up 1.62. Feeder cattle up 0.61%. However, legacy equity market's not doing anywhere close to as well as what we've seen. The Dow is down a half point. S and P is down 0.1. NASDAQ is doing okay. It's up half a point, but the S and P Mini is down a full quarter of a point. On to our favorite asset in the world is Bitcoin, which after a slump, I guess because of the, Trump Harris debate, we're back up to $57,580. That is a $1,14,000,000,000 market cap, And you can now get 22.8 ounces of your favorite shiny metal rock with your 1 Bitcoin of which there are 19,752,605,490 of, and average fees per block remain low at 0.05 BTC on a per block basis.
And there are a 113 blocks carrying 221,000 unconfirmed transactions waiting to clear at woo doggy. 7 satoshis per v byte for high priorities. Low priority gonna get in at 5. So we are still in single digit territory. From nahstore nahstore, Which was episode 950 of Bitcoin and it had some problems on fountain. But first, Pies De Pleb with 420 satoshi says, thank you, sir. Fountain is still all fucked up for me. So I've been listening on Breeze and boosting on Domus. Yes. Pies, I'm sorry that you've been having the kind of issues that you've been having with Fountain. Please please please make sure that Oscar Mary at Oscar Mary on, on Noster knows.
Because if he doesn't know that you have a problem and what your platform is, he can't help fix it. Just saying. Oh, and by the way, no thank you. God's death with 537 says, thank you, sir. No, thank you. And that's it. And here's the reason that I didn't get very many boosts. It wasn't until, I guess, either very very late last night or sometime this morning that the episode 950 entitled Nostar of the Bitcoin and podcast actually made it to fountain. And by extension, actually made it to any podcasting 2.0 app, I suppose, because all of them are looking to podcast index and my episode, Doster episode 950, did not get to podcast index yesterday until very very late last night or very very early this morning.
Okay. So what the hell happened? I don't know. I really don't. I did everything the same way that I normally do. I record the show. I render the show down into like an mp3. And then I take that and I put it over into my pod my podcast hosting company which is podhome.fm. If you're not you if you're a podcaster and you want to change your host your platform host go to podhome.fm. They've been really really good. It's podcasting 2.0 enabled. It's got all kinds of nice analytics. It's a slick interface. But yesterday, for me, something happened. And I don't think it was podhome.fms fault. I did everything the exact same way.
They the the platform acted exactly the way that I thought it was going to act. There was no surprises, so I don't know what happened. But whatever happened well, I do know what happened. I just don't know exactly what it means. We'll get to that in a sec. The show never got to fountain and several other podcasting 2.0 applications so nobody could boost, nobody could stream satoshis to it. I gave, like, I gave a link when I did the show announcement. I gave a link to Apple Podcasts for God's sakes. Right? I mean, this is I felt dirty. I really did. I wasn't able to give the direct link to fountain, which is what I like to do because I want people to experience podcasting 2.0, and maybe it forces a touch point on people to go, well, I have to I have to do this. I don't wanna go search for it. Maybe, you know, I don't give, like, every link under the sun to every single podcasting app. I want people I want to funnel people to Fountain or to any podcasting 2.0 app for that matter because it's just a better experience and if you're not using podcasting 2.0, woah doggy are you missing out.
But something happened. What happened yesterday? Well, let's let's ask let's ask somebody that I know. Let's ask Adam Curry. Adam Curry, the podfather. Essentially, the creator of podcasting all the way back to its inception. Before we had the iPhone, we had something called the ipod. And that was the impetus that caused Adam Curry to go, I'm gonna leverage this tool so that, people will be able to listen to whatever it is that I want them to listen to, and they can use their iPad to do it with. And boom, podcasting was born.
He's not done yet because he's the guy behind podcasting 2.0. So I asked Adam Curry on podcast index dot social, which is a mastodon, instance. Yes. I use something other than Nostr and it's because Adam Curry doesn't spend a lot of time on Nostr. I had to go where he was because he's the guy that could help me. So I ask or actually be basically, I say Adam, at Adam, and at Dave Jones because Dave Jones is the other side of the podcasting 2.0 equation. He's sort of like the back end, whereas Adam Curry sort of like the front end. You can kind of look at it that way. I think that that actually works. I say I tag both those cats in the podcast index dot social mastodon instance and say, FYI, what was hold on.
Oh, I say FYI, today's episode has yet to propagate to podcast index, and it's been a couple of hours. No worries. It's just that I've never seen this happen before and thought you would want to know. And then a guy writes back and says, the pod ping definitely went out. This isn't Adam. This is Barry Lushbrets from Podhome, which is my podcast hosting company. He says the pod ping definitely went out. And for the duplicate oh, there was another question. I don't want to confuse you. I have a duplicate entry and I don't want to confuse you so I'm gonna go he basically said pod ping went out. So Adam Curry writes and says, I think something is wrong.
I issued a reset just to make sure and it's not being scanned. Dave will have to take a look and he's talking about Dave Jones. Let's see. Well, hold on. Yeah, he's talking about doing a manual scan or scan on the Podhome RSS feed, which I gave him, right? So that he would know what was going on. So he does does a manual scan and he comes back and says something's wrong. I don't know. I think I maybe I broke podcast index. I'm not sure. But he said that the Adam comes back and says other feeds are actually updating. Something must be borking the system. Is there an iTunes ID or is the iTunes ID that you gave me correct? And he wants to he asked asked me earlier for that information.
So Dave says he'll he comes onto the this thread and says he's gonna check it and then he just says resolved and that was 6 hours ago. So, so the whole thing is is that I asked Adam if I broke it or what went wrong and he said that it wasn't me. He said it's called it was a really bad enclosure URL bork the feed polar and p o l l e r is the spelling on that. So it it it's I guess what he's talking about is the scan is basically pulling the feed to pull, like my RSS feed, to pull the episodes out. And he says, once that that the poller was fixed, everything started updating again.
And of course, he is not lying because now, Nostar episode 950 is back into the fountain feed. So if you want to go and boost me from yesterday's show, you can go back and do it through fountain because it is actually working again. Okay. So I just want to let everybody know why the hell yesterday's show wasn't on fountain and, well, that's why. And that's the weather report. Welcome to part 2 of the news that you can use. Another day and another miner solves a block all by himself, grabbing a $180,000 block reward, according to Steven Cottey from Cointelegraph.
A Bitcoin miner has achieved the rare feat of processing a block all by their lonely, which netted a payday of around $180. Block 860-749, mined on September 10th, contained 500 no, 5,935 transactions with a reward of 3.169 Bitcoin worth around 182,000 give or take. Excuse me. Despite its name, SoloCK is a mining pool combining the hash rate of multiple smaller miners. But it only distributes the reward to the one responsible for solving the block. In this case, the successful miner used 629 petahashes worth of hashrate when the block was solved. A tiny 0.098 percent of the total power securing the blockchain, which clocked in at 644 exahashes per second, data from Bitcoin transaction tracker YChart shows.
The Bitcoin hash rate recently hit a new all time high of 742 exahashes, per second on September 1st jumping 62% from a year ago a higher hash rate requires miners to use more compute power increases the energy cost and increases verification and transaction times making it challenging for solo miners to validate a block successfully. A solo miner has solved a block only 290 times out of the 859,000 blocks produced since Bitcoin went live in 2,009. Large mining firms such as Bit Digital, Riot Blockchain, and Marathon Digital gradually or generally validate the most blocks as they each command massive amounts of hash power.
The Solo CK pool has been responsible for solving another 14 other blocks in the last year, receiving 59.3 bitcoin for the effort currently worth $3,400,000 A miner from the solo c k pool also processed a block on August 30th, earning the miner nearly $200,000. Another solo miner from solo c k also hit the jackpot after they solved block number 853-742, netting a reward of around $210,000 back on July 25th. Okay. So again, I wanna I'm bringing this up because I want I didn't get into a scuffle with a guy over on Noster, but he there was a gentleman that seemed and and it's hard to tell if people are upset just by their writing or if they're being sarcastic.
If you can't see people's facial expressions, see their body language, hear their tonalities and their tones of voices, then you're not getting 90% of the communicate the communicative story. Right? Because communication is the whole package. It's not only the words you say, it's how you say them. It's how your facial expressions look. It's all of that. So it's very very difficult to determine whether or not this guy was just being a jackass. Now I'm not gonna read any of the notes, but what I am gonna say is that he seems to think that solo mining is just fucking stupid.
Okay. I don't disagree with him or I don't begrudge him his particular attitude. Right? Anybody's free to think anything at all. I disagree. I definitely disagree, but not on the fact that you'll I'm not saying go buy a bit ax right now because you have a chance to win a block all by yourself. That's not what this is about. If you are interested in the mining aspect of Bitcoin, then never before has it been cheaper for you to actually experiment with that by getting something like a bitaxe? Because it will, like, use like, how do we use Stratum V2? If you have a bitaxe, you can plug into that. How do you how do you jump from pool to pool?
Well if you have a bitaxe you can do that you and you can do it for like like anywhere between $250500 I don't know what the gamma is gonna cost the the new the new outing from from bitaxe is called the bitaxe gamma I haven't seen a price for one yet but let's say $500 $600 and that's their top of the line one man it's using like the brand new ASIC chip and all kinds of stuff But if you just get their middle of the line one, you can pick one up for like $200. It's not bad. And if you learn how if you use this tool to get familiar just a just a foot in a pond of mining just to see if you like it or better yet because you want to understand it not because you want to get into mining you just want to know what makes the blockchain actually tick well that's mining And with something like BitX you can learn how to do it. And you can do it fairly cheaply.
And sure, you may never win a block. The chances are astronomically against you winning a block. And and for those that say, well, you're adding you're adding security to the chain. Yeah. But it's a drop in the bucket. So I don't even look at that as a reason to go do solo mining. I look at it from the standpoint of how does a miner work? How hot does a single chip get? How much energy does a single chip use? What kind of stuff? Where do you need to put this thing? How do you connect to a pool? Is there a way that you can automate jumping from pool to pool depending on how much hash rate that particular pool has? Like, let's say you wanna be an ethical miner and you how do you set up a Biddaxe to go from marathon mining when it has over 50% of the hash rate? Let's let's pretend.
And so how do you make your miner automatically jump in the middle of the night while your SAWN logs in bed or doing other things? How do you get it to just automatically sense the hash rate of a single pool, compare it to all the hash rate, do a calculation and say, hey, we're 51% on this tool on this pool, I'm jumping ship, I'm gonna go to this other pool so that we continuously balance that out. This is these are the ways that you learn how to do that shit. I personally think that that is of high amounts of value. Hell, one day it might even ask actually land your ass a job because you understand at least the fundamental aspects of mining. And you did it by just learning it yourself with a $250 rig. So I disagree at a fundamental level that solo mining is bullshit.
I think that there's a very high return value if you do it the right way and for the right reasons. If you're doing it because you think you're actually going to get a full block reward, you're probably smoking a little bit of hopium. Although it could happen. It happened to these guys. But if you're going at it because you want to learn how to do something, that's why I got that's why I got a Bitcoin full node. And then that's why I set up a lightning node. I wanted to learn how to do it. I wanted to know what does it mean for my data throughput? How much energy does it cost? Turns out it doesn't cost shit. Not in the grand scheme of things anyway.
I think that that's valuable information. And the only way you're gonna get that is by actually doing it yourself. Maybe you'll do it on computers that have tails. You know, because tails version 6.7 has been released, has secured chat rooms via onion share. Tails is a portable operating system. Alright? So this is this is something you could just stick in a laptop and boot up and or well, you boot the whole machine up with this thing stuck in its USB port and you get a completely secure operating system. It won't be able to do all the stuff that you do on your other operating system, but if you wanna send if you wanna do secure shit, tails, from what I've heard because I haven't used it myself yet, seems to be the way to go. And then you pull out the tails thing and close down the computer and then when you reboot the computer it reboots under your own operating system. It is like I really want to try this, but it's a portable operating system that protects against surveillance and censorship.
It includes made this particular release includes major update of onion share. If is so it updates Tor Browser to 13.5.3. It updates Thunderbird to 115.15.0. It updates onion share from 2.2 all the way up to 2.6, which now includes a feature to create an anonymous chat room. Nice. Keep the firewall on even during shutdown. Stop reporting an error when starting an Old Tales USB stick with a system partition of 2.5 gigabytes. I haven't used it, so I don't really know what that last one meant. But there you go. If you are a Tails user or you are looking to possibly get into using something like Tails, here's the update for you. Now, last thing up for today, it's gonna be a short show, Foundation Passport version 2.3.2.
Ephemeral seed support. Passport by Foundation is a secure open source hardware wallet for Bitcoin that puts extra focus on usability and design. We're excited to announce that this latest version of Passport firmware 2.3.2 is now live. This version of the firmware brings ephemeral seed support. It adds the ability to sign messages via QR codes and introduces a connection flow to or for fully noted. So ephemeral seeds. What's new? It's ephemeral seeds and they can replace or work with a permanent seed phrase on passport. When you turn on passport, scan or enter a seed QR to use it and it will be forgotten when passport is turned off.
You can also temporarily load a seed while keeping a main seed. Ephemeral seeds can also be loaded from key manager alongside a permanent seed to assist others and they will be forgotten after use. Oh, nice. Okay. There's sign messages via QR code. Okay. There are multiple services in the European Union that require users to sign a message as proof of address ownership. This is now possible with passport. Then there's fully noted has been added to the wallet connection list. So fully noted is an open source iOS and Mac app for managing Bitcoin nodes, lightning channels, and offline wallets.
And then there's a whole list of improvements and, fixes. So they fixed a lot of bugs and it's a fairly long list too. So if you are a Passport user, version 2.3.2 including ephemeral seed support, is now out. Alright. So there's the show. I know it's late today. I'm sorry for that. I'm just hoping that we don't have a scan of my RSS feed fail from podcast index so that it gets up to fountain app as quick as humanly possible. So keep your fingers crossed brothers and sisters and I will see you on the other side. This has been Bitcoin, and and I am your host, David Bennett. I hope you enjoyed today's episode and hope to see you again real soon.
Have a great day.
Market Updates and Bitcoin Price
