Join me today for Episode 872 of Bitcoin And . . .
Topics for today:
- Craig Wright Gets Welcome From Law
- TikTok Comes To nostr
- Saylor wants $500 Million More
- IMF Meddling Again
#Bitcoin #BitcoinAnd
Circle P:
npub: npub172mu27r5yny0nnmvgjqwhx055dmsesrrx7j0p5d3pxagfx6xgxfsv75p3q
nostr handle: @beisnerds
Twitter: @beisnerds
Product: Maple Syrup and Soaps
Articles:
https://bitcoinmagazine.com/legal/craig-wright-is-not-the-inventor-of-bitcoin-judge-rules
https://www.tiktok.com/@garden_variety_jess/video/7344747338704997662
https://bitcoinmagazine.com/business/michael-saylors-microstrategy-to-raise-500-million-to-buy-more-bitcoin
https://cointelegraph.com/news/imf-guides-andorra-monitor-bitcoin-transactions
- 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://protos.com/el-salvador-ends-income-tax-on-foreign-funds-after-launching-bitcoin-passport/
https://decrypt.co/221549/as-bitcoin-etfs-gain-1-billion-in-one-day-analyst-warns-of-liquidity-crunch
https://cointelegraph.com/news/crypto-firm-7rcc-advancing-carbon-credit-spot-bitcoin-etf
https://www.nobsbitcoin.com/pleblab-startup-day-2024/
Find me on nostr
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6389be6491e7b693e9f368ece88fcd145f07c068d2c1bbae4247b9b5ef439d32 (Hex)
Twitter:
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Music by:
Flutey Funk Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0 License
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[00:00:00]
Unknown:
Good morning. This is David Bennett, and this is Bitcoin Ant, 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 two systems overlap. While species from either system can be found at the edge, it is important to note there are species in the overlap that exist in neither system, and that is what I seek to uncover. So join me in discovering the variety of things being created as Bitcoin rubs up against other systems. It is 10 o'clock AM Pacific Daylight Time. It is the 14th March 2024, and this is episode 872 of Bitcoin and Craig is not Satoshi. Oh my god.
It took a judge. It took a judge to tell everybody in the world that Craig is not Satoshi, and guess what? People are still not going to believe it. They are just going to hell hold on for dear life on these crappy ass bags that they bought of Bitcoin, Satoshi's vision. Even Calvin is like Calvin's being weird. He's like, yes, that's right. Now we know that he's really not Satoshi and yet BSV is still the best I don't know, enterprise blockchain software out there, I think is something that he said. So the amount of cope that you're going to be seeing in the next few days is gonna be quite quite astounding. It's really it's really sad. Real, really sad.
JC, it's good to see you. He's over there in zapped.stream. 0xtr is also there. Patrick is there. Still waiting on my friend Kidwarp to to jump in because he's, like, basically always there. Anyway, so, let's get on with this stuff. In fact, before we do that, we gotta go to the circle p. That's right. The circle p. That's where I bring you plebs just like you who have goods and services for sale in Bitcoin. If it's not for sale in Bitcoin, it ain't in the circle p. This time, as usual, because I'm centering on my friend maple trade because he's only got maple syrup for sale for so you know, for a very limited time. Once he makes a batch of maple syrup, that's it. It's not like he can go re tap the trees. Right? So once the spring is done, the maple syrup flow stops for an entire year. So if you want to taste some handmade syrup made by a pleb just like you, then experience the unmatched, the luxurious taste of nature with our exclusive, artisanal handmade maple syrup sourced from only the most kick butt of maple trees. Every bottle weaves a story of tradition and unparalleled quality.
It's ideal for transforming pancakes, waffles, or any cherished recipe recipe into a masterpiece of sweet complex flavor. Elevate your culinary creations with the drizzle of our exquisite amber nectar. Don't wait. Discover your extraordinary difference then. True craftsmanship brings to your table. Order now and redefine sweetness. Make sure you tell them Craig Wright is not the inventor of Bitcoin according to a judge, Nick Hoffman, writing for Bitcoin Magazine. If you've seen it, if you've been awake and you've been on any any, like, social media context that has something to do with Bitcoin at all, then you've probably seen it. But here we go.
In a landmark ruling, a judge at London's high court declared that Craig Wright, the Australian computer scientist which they've got in quotes, who has long claimed to be the elusive creator of Bitcoin, is not, in fact, Satoshi Nakamoto. This decision came following a legal confrontation with the Crypto Open Patent Alliance, otherwise known as COPPA, seeking to prevent Wright from suing Bitcoin developers and requesting a ruling affirming that he is not Satoshi. So here is what the judge said in short. The judge said, I will prepare a fairly long judgment. I have reached the conclusions of the evidence that is overwhelming.
One, Craig Wright is not the author of the white paper. Craig Wright is not Satoshi. Craig Wright is not the creator of Bitcoin. And finally, Craig Wright did not author the Bitcoin software. Judge James Miller delivered the verdict on Thursday asserting that Wright is not the pseudonymous inventor of the first and original cryptocurrency. The judge promised to provide detailed reasons for his decisions at a later date. The trial unfolded amidst ongoing legal battles between Wright and COPPA with Wright issuing a settlement offer to the alliance and others involved or other involved parties. In his proposal, Wright offered to waive his purported database rights and copyrights related to Bitcoin, Bitcoin Cash, and Bitcoin ABC databases.
However, COPPA rejected the offer good for them, emphasizing that it would imply acceptance of Wright's self proclaimed identity as Satoshi Nakamoto. Moreover, Coppa presented new forensic evidence during the trial to discredit Wright's claim, including the discovery of a Chatt GPT forgery by Wright suggesting that the evidence he presented was fabricated. Despite Wright's persistent assertions, Coppa remained steadfast in its position against recognizing him as Satoshi Nakamoto. And last night, Coppa detailed more reasons why Craig Wright cannot be Satoshi Nakamoto. Quote, these points came in addition to a large number of arguments focusing on rights fraud and forgery on an industrial scale, Coppa stated. Now let's see if I can just get one of these things up. Hold on for a second.
And I will
[00:06:14] Unknown:
do this.
[00:06:15] Unknown:
See if we can get this up. Do do do do. Just waiting on this thing to load in. Okay. Here we go. Copa says 12 reasons why Craig Wright is not Satoshi Nakamoto. Our trial proves that Craig Wright is not Satoshi Nakamoto, and it closes this week. Throughout the trial, we've exposed Wright's serial forgeries and identified point after point that shows that he is not the real Satoshi. So, one is the the reasonings by here's the here's the 12 headings of what they're basically proving or what they're saying that that COPE is is proving, that that he didn't author the Bitcoin white paper.
There was an exchange with Adam Back. Let's see. The real Satoshi would know that in response to Satoshi's August 2008 approach, Adam Back was not dismissive of the Bitcoin concept and did not say that it would fail. Doctor Wright has insisted otherwise, yet this story has been shown to be false by Adam Back's own emails. There's some issues with the influence of Weidai's work on Satoshi. There is the issue of the satoshi pgp key. There is, of course, the Bitcoin code itself. There's an issue going on with something called upload.ae. There's a Tuesday patch issue. There's mining requirements issue. There's Bitcoin transactions issues. There's the genesis block issue.
And this one says the real satoshi would not make the serious and obvious mistake of claiming that there isn't a public key associated with the Coinbase transaction for the genesis block yet. That is the mistake doctor Wright made in his statements. Oh my. That's a pretty big one. 11 is the Satoshi cryptocurrency post, and then there is this issue. This number 12 finishes us off. There's a transfer to GitHub, and I'll just read that one. It says the real Satoshi would have known that in 2010 to 2011, Satoshi took no objection to Gavin Andresen using GitHub in place of SourceForge in connection with the Bitcoin system.
Satoshi would also have known that Vladimir Vanderland had nothing to do with the transfer and that there wasn't a shred of evidence to suggest that he had. Doctor Wright's false accounts on those points mark him out as not being Satoshi. So what's going on here is that COPPA is basically on a point by point basis for 12 full points saying here is exactly why we know that he cannot be Satoshi because he doesn't know these fundamental issues. And after going through all the emails and all the stuff that proves that that Satoshi did know about all of these things, but Craig Wright didn't tells us 2 things. 1, clearly Craig's lying. But 2, with all the money that Calvin Air poured into this, they could not or did not figure out that all they really had to do was get an army of people.
Pay them through this money that they're funneling into this case a shit ton to take their time to go through all of the stuff that was publicly available and give Craig talking points on how not to fuck this up. And what did he do? Yeah, he screwed it all up. But so the question becomes the following.
[00:09:41] Unknown:
Are we done? You you you think that we are, don't you? You think this is the end of it, don't you? No. No. This isn't the end of it. Sadly, we've not seen the last of this idiot. We've not seen the last of this because there's so much potential money at stake. And if it's not him, if it's not this idiot, it's gonna be some other idiot.
[00:10:14] Unknown:
There's no combating this. There or at least there's not combating the idiocy that will enter the market, whether it's Craig or not. Personally, I think we haven't we're we haven't seen the end of Craig for at least another couple of years. Okay? At least another couple years, we're gonna have to deal with this moron. The only thing that I can hope is that this judge actually assigns some kind of physical time based penalty. What I mean by that is Craig needs to cool his heels inside of a jail cell for perjury, which Copa is alleging, and we'll see what the judge says later today or tomorrow when he's written the full the full thing that he did his full decision. Right?
We'll find out, I suppose. But if there's not to be jail time for this moron, then you can pretty much just be assured that the western justice system is in complete disrepair, and anybody can get away with anything that they want to because there is no justice. This man has gone and he's destroyed lives of good people. He has wasted the time of 100 of others. If he is not to basically have his time taken away from him like he took others time away from them, then there is no justice. There is only bitcoin however, which we're gonna get into, but not before we talk a little bit about Noster. There's some stuff going on with Noster right now that is I find very interesting, and that is basically a whole bunch of people have all of a sudden started entering in their hashtag introductions, which is what you do when you first come into, you know, a space. You hashtag introductions.
And I have seen a waterfall. It's like a dam breaking, and I was wondering what the hell was going on. Well, it turns out that this seems to be activated by this court case or not court case. I'm sorry. The United States House of Representatives passed the bill to ban TikTok. It now goes to the Senate. Right? So it's not a done deal. But it is it is past one half of the legislation and one of them and it looks like her name is garden variety Jess is one of the main people who I've never seen before I've I don't know who this person is but this particular TikTok posted I'm not going to play it because it's she's explaining nostril and it takes her 6 and a half minutes to do it, which is okay, but it's just not it I'm not gonna I'm not gonna make you listen to her for 6 and a half minutes. But this thing has 33,800 likes. This is the TikTok post. I'm actually looking at it right here. I might as well throw it up for you guys so you can see it.
33,800 likes. And I threw it up for the guys over in zap.stream. So if you wanna, like, go live if, on some of my other shows, I always announce it and, like, just pick it up on zap.stream or Twitch. I'm live over on Twitch as well. That's noster business over on Twitch. Not none you business, but noster business. This thing has 15 133 comments it has 1805 reposts and 15,000 what appear to be bookmarks. Make sure that that's right. I don't know if that's right or not. Let's just read some of these. Some of these here's some of the replies to her post that was explaining how people needed to go needed to go over and look at Doster and figure out how it works and was basically singing the praises.
One is I'm millennial, and after Facebook, nothing it centers the user as the owner of their content and forces the platformclients to compete. This could flip the entire social monetization model on its head Oh, wait till she finds out about zaps Wait till she finds out about zaps What does Steven have to say? Never expected to be learning future tech from Janis Joplin, but here we are because she kinda looks a little bit like Janis Joplin used to look. Let's see. What language is this? Relay server notes crying and elder millennial. So here the the issue is is that this thing this thing with the United States House of Representatives and the TikTok ban is having the desired effect for for the people over on on the the creator well, for Fiat Joff, the creator of the protocol that is Nostr.
But then now all the clients, like jb 50 fives, Domus, you got a HuddleBot's, Coracle, you got a whole bunch of other clients. Now they they all of these guys better start girding themselves for war because the amount of people that are piling in over the last couple of days because of this whole house of representatives decision, It's gonna stress test a whole bunch of stuff. And, yes, you're going to now have to put up with people who are here to fix Noster. I get it. You don't wanna see it. I I hate it that we're gonna have to do it.
[00:15:49] Unknown:
But, honestly,
[00:15:51] Unknown:
let's just put up with it. How about we do that? How about we just put up with it? How about we just say, you know what? I'm gonna just take a step back. I'm gonna breathe. You take a breath. I'm gonna calm my ass down, maybe do a little bit of meditation, and just see what happens. There's no reason nobody has to go defend Nostra. None of the none of us people that have been here for like over a year. One of the some of the earliest adopters that there are, there is no reason for us to do anything but sit back and watch. We don't have to yell at the new people. You don't you we really don't. Plea and in fact, I advise against yelling at the new people. Don't do it.
There's no reason for it. It's not gonna do you any good. It's not gonna do the new people any good. Let's just sit back and watch what unfolds. I'll bet we're we will end up being pleasantly surprised. Now, here's another surprise.
[00:16:49] Unknown:
As if he was not done, because it doesn't look like he is, Michael Saylor is, well, he's going to raise $500,000,000 to buy Bitcoin. No.
[00:17:02] Unknown:
This is not the same story that I brought to you, what, last week? No. This is another one. This is the 2nd round in a single month that multiple 100 of 1,000,000 of dollars are going to be raised by Michael Saylor expressly to buy Bitcoin. Why? Because it looks like he's in a pissing match with BlackRock, Bitcoin Magazine Nick Hoffman. Micah Strategy Incorporated has revealed The offering, subject to market conditions, targets qualified institutional buyers under rule 144 a of the Securities Act of 1933. The notes, unsecured and senior obligations of MicroStrategy will bear semi annual interest payable on March 15th September 15th, commencing September 15th of 2024. They're set to mature on March 15th 2031.
The notes may be redeemed by MicroStrategy on or after March 20 2, 2028, subject to certain conditions. Investors will have the option to convert the notes into cash, shares of MicroStrategy's class a common stock, or a combination thereof. Conversion before September 15, 2030 will occur based on specific events and periods while after that date, conversion will be unrestricted until 2 days before the maturity date. Proceeds from the offering will primarily fund the acquisition of additional Bitcoin and support general corporate purposes, the announcement stated. The sale will be restricted to qualified institutional buyers under rule 14 4 a with no resignation or sorry. Registration under the Securities Act or other judicial securities laws. And last week, it was announced that MicroStrategy was raising more money to buy bitcoin following the announcement MicroStrategy acquired 12,000 BTC for 821,700,000
[00:19:06] Unknown:
dollars this past Monday.
[00:19:09] Unknown:
Monday. They actually bought them on Monday, and they're gonna do another 500. But you know what's gonna happen. Right? You know what's gonna happen. Right? Somebody in the comments over on zapped.stream, tell me what's gonna happen. While you do that, I'm going to thank a few people. JC zapped me 2,100 satoshis. Dude, very much appreciated. Last Nas zapped me 2,100 satoshis. Dude, Last Nas, thank you. I appreciate that. That's actual money. I mean, that's real money. And I appreciate every single satoshi that you've given me. It's good to see my friend Kidwarp in here. Thank you. Thank you. Thank you very much for, popping back on in. I've I always miss you guys. Alright. So nobody's actually said anything at zap.stream, so I'm going to tell you. Here's what's going to happen.
He says he's gonna raise 500,000,000 with these things. Now that's going to be oversubscribed almost immediately. He will have to push it to 600, and then he's probably gonna end up clearing somewhere around $750,000,000 after the oversubscription is done. That's what's gonna happen. It's not gonna stay at $500,000,000. It's gonna be somewhere north of that to, like, I'm I'm my gut says 750. Why do I say that? Well, because last week, when he told us that he was gonna do 600,000,000, that instantly within hours got raised to 700,000,000. And I that day, I said, look, this is going to happen. It's gonna be oversubscribed.
It's not gonna stay at 700 or 600,000,000. He's gonna have to push it up. And he ended up settling at 800 and what was it? Was it 870? Let's see. Where was it? No. $821,700,000. He was gonna do 600. Ended up being 821. He's saying 500 here. That's gonna be 750, guaranteed. Guaranteed. Alright. Let's move on. IMF is meddling again, this time in a country named Andorra, which I've never heard of before. Anyway, the IMF guides Andorra to record and monitor Bitcoin transactions. Cointelegraph, Arjeet Sarkar, The International Monetary Fund provided technical advice to Andorra, a landlocked country bordering France and Spain, on recording Bitcoin transactions in response to their request for assistance.
So this country begged the IMF to come in and help them learn how to record Bitcoin transactions, how to spy on their citizenry. Please, IMF, please come into our country. Please do this. The IMF conducted a technical assistance mission in the Principality of Andorra in September of 2023 with the goal of enhancing the country's balance of payments statistics. The metric primarily deals with recording economic transactions between residents and nonresidents. Andorra, a country best known for its ski resorts and tax haven status, required technical assistance on 56 topics, one of which was its inability to record cryptocurrency transactions.
In response, the IMF report stated, quote, the IMF mission explained, the current guidance on the recording of bitcoin type crypto assets as well as how it will change in the next generation of the international standards, end quote. That's a bizarre statement. It doesn't actually say anything other than every sentence in that or every word in that sentence is wrong. Continuing, the country's financial regulator, the Andorran Financial Authority, told the IMF that banks in Andorran need prior approval for recording bitcoin and crypto asset transactions. However, no banks have requested the approval yet.
The IMF further recommended that the AFA oversee the monitoring of transactions and positions of crypto assets until September of 2024. The IMF's recommendation to monitor crypto assets was given medium priority. Andorra will be able to use the information to compile its macroeconomic statistics. A recent IMF study found that digital currencies can help Pacific Island Countries meet their currency or unique currency needs. And PICs, the Pacific Island Countries, are tiny, diverse, and geographically isolated markets that include Papua New Guinea, Fiji, Palau, Tonga, Tuvala, Samoa, Vanatoo, Micronesia, as national currencies.
However, the IMF said that developing a regional approach to digital money would help mitigate problems problems such as scalability restraints and economic volatility. Quote, some PICs are more prone to currency substitution by crypto assets and stablecoins due to weak confidence in their domestic monetary systems and the absence of other publicly supported digital assets such as CBDCs, end quote. In general, the report leaned towards slow, deliberate action on digital currency while urging the island nations to hold off on their plans to introduce a central bank digital currency citing its unpreparedness.
Now I gotta tell you honestly, I think this is one of the most tepid responses from the IMF that has anything to do with Bitcoin or cryptocurrency that I've ever heard. Usually, they lose their freaking minds, and they start screaming and yelling how it's going to destroy everything. Yet, in this these statements that the IMF has made, it's almost as if there's this there's this background tone that I'm picking up that they're moving towards understanding they can't stop it. And I think a lot of that has to do with the responses, continuous, and droning of Nayib Bukele down in El Salvador who's basically told the IMF on multiple occasions to go pound sand whenever they tell them that they need to stop using Bitcoin as a national currency.
I get the feeling that they're just getting tired. They're gonna have to shift their position. What the other fascinating thing that I found about this particular story is that the country itself called the IMF and asked them for help. And what does that tell you? It tells me 2 things. 1, Andorra doesn't know what they're doing, yet they're a tax haven they're tax haven, but they're probably all run by a you know, I I hate to say it because I've got a lot of boomer friends, but I get the feeling that this is just boomers that just they were too busy pointing and laughing at Bitcoin instead of learning how it works. So now they need people like the IMF to come in and and help them assist them. Like, how does this even work? What what is what what are we even doing?
But the second thing that it shows me is that Andorra is trying to kiss the IMF's ass, which probably means what? They're gonna need a loan. They're gonna need an IMF load. Let's run the numbers. CNBC Futures and Commodities. They got oil up. Damn. West Texas Intermediate is up over 2 points today. Back up over 80 to 8143 a barrel. Brent Norsee is up 1.7 4% to $85.49 a barrel. Natural gas is up as well. Usually, it goes the other direction when crude prices are up, but it's up almost 3 full points to a buck 70 per 1,000 cubic feet. And gasoline, as you might imagine, is creeping up as well. Almost a full point to the upside, $2.68 a gallon.
Shiny metal rocks having a bad day, including gold, which is down just over half a point to $2,168. Silver is down a third of a point. Platinum is down almost a point. Copper is down a third of a point. Palladium, however, in the green by almost a full point. We got agricultural futures are pretty much mixed today with the biggest winner, chocolate, taking a stand 6 and a third to the upside. Biggest loser today is gonna be wheat, 2.11% to the downside. Live cattle is down just over a point. Lean hogs are up a third. Feeder cattle down almost a full point. Indices are not having a good day either. And this all has to do with some economic data that rolled out today.
I'm not exactly sure what it said. I just honestly, I just care about Bitcoin at this point. But the the Dow is taken up taken a plunge half a point to the downside. S and P is down half a point. Nasdaq is down over half a point, and the S and P Mini is down 1 and one half point. You know, Bitcoin's down too. So it's some it's some inflation data that came out, and everybody's freaking out. So the first thing they do is, I don't know, make a phone call and scream sell, sell, sell. It's it's bizarre, but, hey, it happens, and we're gonna have to deal with it. Bonds, however, are mostly in the green today.
Their yields are pushed higher. The 30 year is is getting 4.43%, the 20 year, 4.54%, and the 10 year bond, 4 and a third. Yes. That's what's going on. There you go. Now price, 70,700. So we've lost about $3 overnight. $1,390,000,000,000,000, however, is still the market cap today of of Bitcoin, which is has a money supply of 19,654,105 and a half. 602.4 exahashes per second has been the average hash rate over the last 20 2 2016 blocks, about a third of a bitcoin taken in fees on a per block basis, and the halving estimate remains at April 18th 2024, the amount of block space used for taking out the trash that is ordinals remains at 2.4% of every block. So there you go. Now what's going on with mempools?
Mempools, mempools, mempools, 187 blocks carrying a 131,000 transactions waiting to clear at rates of 33 satoshis per vbyte for high priority. That's about $3.27. Low priority is 28 satoshis per vbyte, and anything under 2a half is being purged from mempools around the world. And mempool.space mining is splashing 601.4 exahashes per second. So there you go. Now from it's going to 0, which was yesterday's episode number 871 of the Bitcoin and podcast, I got blogging Bitcoin 5,000 sats. Dude, thanks, bro. And he says, blogging Bitcoin says, thanks for answering my question about Obsidian. I found a GitHub plugin that auto backs up notes to GitHub, but your answer sparked an idea. I can just use syncing and Nextcloud or file browser on Umbrel or Start9.
Yes, Obsidian does have a syncing feature. Obsidian is free, but if you want to sync it use synchronizing to other devices or other drives, whether it's cloud or some like like the Umbrel or something like that. If it's another destination other than your local, that you have to pay for. I I don't make the rules, but they gotta make their money somehow. Obsidian was a project that was born out of the COVID 19 thing. Yet a whole bunch of developers were basically in their house, and they were like, well, we got all kinds of time on our hands. Let's build something cool. And they built Obsidian. And, honestly, it's one of the slickest products I've ever seen.
It works. It works well. It doesn't it's not glitchy. It's not ugly. It's I I love looking at the environment that I'm looking at. And if you guys are serious about starting maybe, like, collecting your your thoughts up about certain things so that you can write about them later or in any other capacity that you need notes for, I highly recommend trying out Obsidian. JC Denton with a row short row of ducks 2222 says, thanks for all the hard work you put in to benefit the Bitcoin and Monster community. Love the daily podcast. To the guy asking about Obsidian and encryption, it might just be easiest to keep your entire vault if it's just a folder on a VeriCrypt volume. I don't know VeriCrypt, so you have to take that one out to how you will. 1650 from Dubravco says, Roman Sterlingoff being found guilty because of an extremely well paid expert in quotes, going up and basically telling a jury, quote, we know this person did it because we put this information into the box and the screen turned green is all we need to know about about the justice not well connected humans receive.
Tennis players stopped complaining about calls after the AI started making them. Oh, look at this. Israel's drone bombings went from 11 a month to 1,100 plus after an AI took over that authority. I don't know anything about what's going on with AI in tennis nor the Palestinian, Israel conflict. I don't know. I'm gonna have to take Dubravka's word for it. Pies with 420. Thank you, sir. No. Thank you. God's death with 337 says thank you, sir. No. Thank you. God's death again with another 337 says thank you, sir. No. Thank you. Sir Ulrich with 333 says thank you, good sir. Today is the day you will get mentioned on no agenda.
Dude, sweet. He's gonna get knighted today, and somehow or another, he's gonna he's gonna fit me in there. All I can do is say thank you. And that's the weather report. Welcome to part 2 of the news you can use. Playlists are now live on Wave Lake. So if you're a Wave Lake user, you can now create in mobile and you can share your favorite jams with us, and they've got, like, a little, like, example of a playlist that has 4 songs on it. The hard way from Martin Grooms, WWT in August, out of this, and high gravity, and they're all from different, they're all from different, artists.
So now now now now in wave lake, hold on. Pablo is saying something in this thread. Oh, that's interesting. I'll get to it in a second. So now you can build your own playlists in Wave Lake. And you can either keep them to yourself or you can share them around the horn. So share your favorite music, do it on Wave Lake. That way, the artists that are that are putting their hearts and souls into their art and putting it on Wave Lake, you know, maybe they'll get paid a little bit better than a dime after a year on Spotify. Because honestly, that's about what they get. They get host. Wave Lake is their only way out. Other value for value platforms are their only way out. Honestly, value for value is all of our way out.
And for the guys that are coming in on TikTok, if you see them, you need to start talking to them about value for value and how Zaps work, how to set up lightning wallets. You need to tag them. You need to get a hold of them. You need to teach them. You need to be educators. You need to start doing it today, and you need to not stop until you're in the ground 6 foot under. And I hate to be kinda grim about it, but if you want the world to change, then you're gonna have to want it to change well after after you are firmly planted in the soil. Pablo says, are the playlists nip 51 events?
What kind are you using? This will be interesting. They have not answered Wave Lake has not answered Pablo f seven z's question. I wanna know if these are kind or, you know, event kinds as well. I don't know yet. I I hope we find out and I hope we find out that they are in fact event kinds, on Noster because that would be cool. Now El Salvador. Speaking of El Salvador and the IMF, however, the IMF is not involved in this one. El Salvador ends income tax on foreign funds after launching the Bitcoin passport. And this was published today by a outfit called protos.com and It's written by protos staff. Let's find out what what these guys will allow.
El Salvador recently passed a new law that eliminates income taxes on foreign money coming into the country. This is interesting. This news was announced on Twitter by Nayib Bukele, the self described, quote, coolest dictator. I think I see how this is going. Who has become a prominent player in the crypto ecosystem, thanks to El Salvador declaring Bitcoin a compulsory tender. It's not compulsory at all. And investing public funds into Bitcoin and Bitcoin mining. This change follows a recent initiative that will allow Bitcoin investors to purchase a Visa and eventually become eligible for citizenship in El Salvador. Well, we knew that part. Bukele is also known for his extensive anti gang crusade.
An emergency decree was recently extended for the 24th time, and he has engaged in mass incarceration without due process. He has also been accused of a variety of human rights abuses. Yep. I knew how this was going. Let's let's see if they continue on this tact. Bukele has asserted that he recently won reelection in El Salvador despite a constitutional provision preventing him from being reelected. The election was reportedly marred by serious issues, including mismarked ballots and a remarkably high turnout. But despite these problems, because, you know, you don't want any you don't want everybody voting, God forbid that you should have a remarkably high turnout for a vote because that's a problem according to these idiots. Bukele is set to remain president of El Salvador. Fiscally, El Salvador has been struggling. I don't think so. Defaulting last year on some pension debts. Many of the previously proposed remedies such as the volcano Bitcoin bond has been delayed, forgotten, or reimagined.
El Salvador has been relying on debt buybacks as a way to try to assuage these fears. Yeah, this is gonna be these people seem to be a mouthpiece for the general media who seek to basically just poo poo everything. Because I can tell because it's like how on earth is a remarkably high voter turnout a problem? Can somebody answer me that question? How is that a problem? Mismarked ballots, well, I could see that being a problem. That's a that that is clearly a problem, but how how do you interpret a whole bunch of people that are rabid to go vote in your country as a problem? Now we might look at it, you know, the the, you know, like independent guys and, you know, libertarians might look at it and say you're, you know, the the the usual argument is that your vote doesn't count. Well, I kinda think that that really depends on where you're at.
It's certain I I don't think it counts as much in the west as we think it does. And I to the point that I'm I'm kinda uninterested myself. But in a place like El Salvador, I get the feeling that voting actually does kinda count. Now we yeah. Yeah. I know. You could be laughing because it's like, you know, I guess if you're gonna go undergo you know, put your people under the thumb and, like, you know, I don't know, like, do voter intimidation, but you'd have to do it in mass. And I'm not sure that we saw any credible reports out of El Salvador that voter intimidation was going on to swing the vote one way or another. I don't know. I wasn't there, so I don't really know what the hell happened.
But I just find it incredible that somebody would call a high voter turnout a problem. How the hell is it? I don't I don't understand people. Somebody send me an instruction manual about people. Let's not do that one. Let's go to this one. Crypto firm 7RCC is quietly advancing its eco conscious spot Bitcoin ETF, the NY sorry. Sorry. Martin Young, cointelegraph dot com. Crypto firm 7RCC is one step closer to launching its environmentally conscious spot Bitcoin ETF in the United States, potentially adding another option for Bitcoin ETF investors. On March 13th, the New York Stock Exchange submitted what is known as a 19b slash 4 form, the filing needed for it to list and trade shares of 7 RCCs spot not futures another spot Bitcoin and carbon credit futures ETF. So there's a spot Bitcoin and carbon credit futures ETF. Now is that bundled together? Let's find out. 7 RCC filed an s one application with the SEC for the Bitcoin ETF under the ticker BTCK back in December, which aimed to provide investors exposure to the digital asset alongside carbon credits.
The objective of the fund is to reflect the daily changes in the price of BTC and the value of carbon credit future contracts as represented by the Venture Bitcoin Carbon Credit Index. Quote, the index, the carbon credit index seeks to provide exposure to Bitcoin with an environmentally responsible approach by offsetting carbon emissions. Read the filing at the time, though updates from the firm on its progress since then were minimal. The latest 19b4 filing is known as the proposed rule change filing, which is necessary when a stock exchange wants to list a new product.
It's seen as the more crucial filing within the SEC approval process, though both are required to be approved by the SEC for a new product to begin trading.
[00:41:57] Unknown:
At the time of the s one filing,
[00:42:00] Unknown:
cofounder and CEO of 7RCC Global, Raleigh Perdohova said, we want to target that group of institutional investors that need that ESG tick mark. That's what it's turned into, a simple tick mark. Nobody really cares. Nobody really gives a shit. Nobody really actually does anything that they said that they were going to do about the z s g stuff. No. It's just tick box because that's what human culture has been reduced to. Did you tick the box? Oh, well, then you're good. Oh, do you really give a shit about it? No. I don't care. I just need to know whether you ticked the box. Whatever. The ETF will invest 80% of its assets in Bitcoin and 20% in financial instruments like swaps that provide exposure to carbon credit futures contracts linked to emissions allowances.
The carbon credit futures are linked to the value of emission allowances issued under the European Union Emissions Trading System, the California Carbon Allowance, and the Regional Greenhouse Gas Initiative. Speaking to Bloomberg TV on March 13th, Purdeyhova predicted that BTC prices would reach 200,000 or higher by the end of this year. Quote, the approvals of the spot Bitcoin ETFs were a catalyst, a global event. Not only did this open the door for a wider adoption of the asset in the United States, but the narrative has shifted globally, she said. Commenting on the halving, she said that the supply will be cut from 900 to 450 BTC per day being mined, but we're seeing around 9,000 to 10000 BTC per day in demand, end quote.
The Gemini crypto exchange has been named as the custodian of the 7 RCC Bitcoin and carbon credit futures ETF. Let me tell you what this is. If okay, first of all, it's bullshit. And number 2, let's just skip right over it. First of all, number 2. All this is is a different flavor of BTC spot application. Right? That that's all this is and honestly, it's this it looks to me like it's a seesaw effect where as carbon credit prices go up, it's like sort of like a hedge within the same fund. It's sort of like an auto hedge. Let's put it that way. It hedges against Bitcoin with this carbon credit and Bitcoin price against the carbon credit price.
But in the end, it's just a derivative. Yes. They'll they'll hold BTC underlying,
[00:44:45] Unknown:
But the 20% is gonna be in futures
[00:44:49] Unknown:
This to this to me is kind of a recipe for disaster for this particular fund I don't think they're gonna get the traction that they think that they're gonna think. I think what people really want right now is just a whole bunch of Bitcoin to hold on their balance sheet. That's what they want. I don't think they really give a shit all that much about carbon credit futures, but we'll have to see because that whole thing may still be going on for decades. Honestly, I'm a big fan of carbon. If you've listened to the show, I love carbon. My favorite element on the periodic table of elements. Without it, nothing happens.
There's no complexity to life. There's no life itself. It just doesn't exist. People say, well, it could be based on silicon. No. No. It can't. Not the way that we recognize life. Not in any way, shape, or form. Just because silicon's in the same family as carbon does not mean that it has the same kind of bonding tenacities and bonding tendencies. It just doesn't. It's different. Without carbon, you can forget about all this shit. And nothing matters. That's one of the reasons why it's my favorite, but the amount of complexity that the amount of cool stuff that you can get out of carbon bonding with almost anything else, but really when it bonds with itself, the things that it can produce like hormones and all kinds of stuff. I mean, it's just it it fuels.
Fuels and hormones, they're both ring structures with basically rings of carbon. It's amazing how they basically fit together in either of them. I think that we're gonna have to deal with carbon credits for a while, and I think the onus is gonna be on us to figure out how to actually leverage the carbon credit system in a positive or to create a positive environment for for Bitcoin mining. I've got ideas about that. And one of these days, I will tell you about them too when I don't sound so Charlie Day against the background of a whole bunch of red string and pictures of me looking like I'm possibly psychotic.
No b s Bitcoin finishes up the day with Pleb Lab startup Day, 2024 livestream. The Pleb Lab, their startup day is going on, and they've got a livestream. Pleb Lab Startup day held in partnership with Wolf is an event dedicated to Bitcoin innovation. It features it features the top builder competition promoting collaboration and growth among leading Bitcoin innovators in an engaging setting. It's taking place in Austin, Texas at the Bitcoin Commons. And if you wanna watch, you can watch that whole thing go down on their livestream. But what's going on what's going on today? Because today is the first day and there are in fact 2 days of this. No, actually there's only one day. That's right. Okay. So here's what here's what's on the list.
Aside from opening statements, some announcements, you've got the next generation of building on Bitcoin. You've got the future of Bitcoin with Andre Nieves, Christopher David, David Nanenio, rock star moderating all being moderated by Brandon Keyes, Bitcoin Wild West with Kian Kocia, Tony Georgiou, Topher Scott, and that's moderated by Pleb Pohit. You got building community with GE, Brian Noni, Michael Atwood, and that's moderated by Pleb Pohit as well. Bitcoin product market fit with Will Cole, Daina Amanski moderated by Umi Malhara. Fireside chat with Alan Bickerstaff, moderated by Teresa Martin. Teresa Martin's really cool. You'll you'll like her.
Road to Revenue with Parker Lewis, John McGill, and that's moderated by Brandon Keyes. Venture Capital with Matt Odell and Muzz is moderated by Carr Gonzalez. And Carr is the man behind Pleb Lab, or he's one of the guys. He's not the only guy. He's one of the guys. Carr Gonzalez, really good guy. Pleb Lab has turned into something that just like I thought it was gonna turn into where it has sort of a mind of its own and their own creation is now actually guiding Carr and his co creators of ClubLab to go in directions that they probably never thought that they would go. Community happy hour is sponsored by 10:31, and then there's some other announcements. So all this is being livestreamed. I highly recommend the one with, Teresa Martin because she's more business and marketing minded. She's one of the people that has hooked up with Texas Slim to make the bish be, the beef initiative as successful as it's been. And I am going to have, Texas Slim on the show for my one of the first interviews that I've done in a very long time, sometime next week.
Alright. That's gonna do it for the morning roundup. But instead of just going right to music, let's see if I can't get a dad joke up here for a second. Because I've I always I've been forgetting to do that. Let's see what I can find. Here, we'll find it together. I just invented the first thought controlled air freshener. It makes sense when you think about it. Okay, there's this interesting function that zap stream, zap dot stream, has loaded into, loaded into well zap.stream and it's called raid now since I never was on Twitch Twitch apparently has this function. I've just never been much of a streamer, right? I I don't
[00:50:34] Unknown:
that's sort of not. I just
[00:50:36] Unknown:
Kind of got into this like over the last few months So I'm learning all this stuff like a newbie like any other newbie would but there's this thing called raid and I let's see Who do I got? Who do I got? Unless if I go to raid and Let's see. There's oh, pleb lab. So here's what I'm gonna do. I'm gonna pick pleb lab as the raid target. And from what I understand when I do this, you're going all of you guys that are listening are gonna drop into the pleb lab livestream, which is what I was just talking about. So I'm gonna say, I don't know, hello for the raid message from coin and podcast.
Gosh. And we're gonna see if this works. So I'm gonna hit the button raid, and let's see what happens.
[00:51:34] Unknown:
And there you go.
[00:51:36] Unknown:
I guess you guys are in. Talk to you all later. 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 Ant, 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 two systems overlap. While species from either system can be found at the edge, it is important to note there are species in the overlap that exist in neither system, and that is what I seek to uncover. So join me in discovering the variety of things being created as Bitcoin rubs up against other systems. It is 10 o'clock AM Pacific Daylight Time. It is the 14th March 2024, and this is episode 872 of Bitcoin and Craig is not Satoshi. Oh my god.
It took a judge. It took a judge to tell everybody in the world that Craig is not Satoshi, and guess what? People are still not going to believe it. They are just going to hell hold on for dear life on these crappy ass bags that they bought of Bitcoin, Satoshi's vision. Even Calvin is like Calvin's being weird. He's like, yes, that's right. Now we know that he's really not Satoshi and yet BSV is still the best I don't know, enterprise blockchain software out there, I think is something that he said. So the amount of cope that you're going to be seeing in the next few days is gonna be quite quite astounding. It's really it's really sad. Real, really sad.
JC, it's good to see you. He's over there in zapped.stream. 0xtr is also there. Patrick is there. Still waiting on my friend Kidwarp to to jump in because he's, like, basically always there. Anyway, so, let's get on with this stuff. In fact, before we do that, we gotta go to the circle p. That's right. The circle p. That's where I bring you plebs just like you who have goods and services for sale in Bitcoin. If it's not for sale in Bitcoin, it ain't in the circle p. This time, as usual, because I'm centering on my friend maple trade because he's only got maple syrup for sale for so you know, for a very limited time. Once he makes a batch of maple syrup, that's it. It's not like he can go re tap the trees. Right? So once the spring is done, the maple syrup flow stops for an entire year. So if you want to taste some handmade syrup made by a pleb just like you, then experience the unmatched, the luxurious taste of nature with our exclusive, artisanal handmade maple syrup sourced from only the most kick butt of maple trees. Every bottle weaves a story of tradition and unparalleled quality.
It's ideal for transforming pancakes, waffles, or any cherished recipe recipe into a masterpiece of sweet complex flavor. Elevate your culinary creations with the drizzle of our exquisite amber nectar. Don't wait. Discover your extraordinary difference then. True craftsmanship brings to your table. Order now and redefine sweetness. Make sure you tell them Craig Wright is not the inventor of Bitcoin according to a judge, Nick Hoffman, writing for Bitcoin Magazine. If you've seen it, if you've been awake and you've been on any any, like, social media context that has something to do with Bitcoin at all, then you've probably seen it. But here we go.
In a landmark ruling, a judge at London's high court declared that Craig Wright, the Australian computer scientist which they've got in quotes, who has long claimed to be the elusive creator of Bitcoin, is not, in fact, Satoshi Nakamoto. This decision came following a legal confrontation with the Crypto Open Patent Alliance, otherwise known as COPPA, seeking to prevent Wright from suing Bitcoin developers and requesting a ruling affirming that he is not Satoshi. So here is what the judge said in short. The judge said, I will prepare a fairly long judgment. I have reached the conclusions of the evidence that is overwhelming.
One, Craig Wright is not the author of the white paper. Craig Wright is not Satoshi. Craig Wright is not the creator of Bitcoin. And finally, Craig Wright did not author the Bitcoin software. Judge James Miller delivered the verdict on Thursday asserting that Wright is not the pseudonymous inventor of the first and original cryptocurrency. The judge promised to provide detailed reasons for his decisions at a later date. The trial unfolded amidst ongoing legal battles between Wright and COPPA with Wright issuing a settlement offer to the alliance and others involved or other involved parties. In his proposal, Wright offered to waive his purported database rights and copyrights related to Bitcoin, Bitcoin Cash, and Bitcoin ABC databases.
However, COPPA rejected the offer good for them, emphasizing that it would imply acceptance of Wright's self proclaimed identity as Satoshi Nakamoto. Moreover, Coppa presented new forensic evidence during the trial to discredit Wright's claim, including the discovery of a Chatt GPT forgery by Wright suggesting that the evidence he presented was fabricated. Despite Wright's persistent assertions, Coppa remained steadfast in its position against recognizing him as Satoshi Nakamoto. And last night, Coppa detailed more reasons why Craig Wright cannot be Satoshi Nakamoto. Quote, these points came in addition to a large number of arguments focusing on rights fraud and forgery on an industrial scale, Coppa stated. Now let's see if I can just get one of these things up. Hold on for a second.
And I will
[00:06:14] Unknown:
do this.
[00:06:15] Unknown:
See if we can get this up. Do do do do. Just waiting on this thing to load in. Okay. Here we go. Copa says 12 reasons why Craig Wright is not Satoshi Nakamoto. Our trial proves that Craig Wright is not Satoshi Nakamoto, and it closes this week. Throughout the trial, we've exposed Wright's serial forgeries and identified point after point that shows that he is not the real Satoshi. So, one is the the reasonings by here's the here's the 12 headings of what they're basically proving or what they're saying that that COPE is is proving, that that he didn't author the Bitcoin white paper.
There was an exchange with Adam Back. Let's see. The real Satoshi would know that in response to Satoshi's August 2008 approach, Adam Back was not dismissive of the Bitcoin concept and did not say that it would fail. Doctor Wright has insisted otherwise, yet this story has been shown to be false by Adam Back's own emails. There's some issues with the influence of Weidai's work on Satoshi. There is the issue of the satoshi pgp key. There is, of course, the Bitcoin code itself. There's an issue going on with something called upload.ae. There's a Tuesday patch issue. There's mining requirements issue. There's Bitcoin transactions issues. There's the genesis block issue.
And this one says the real satoshi would not make the serious and obvious mistake of claiming that there isn't a public key associated with the Coinbase transaction for the genesis block yet. That is the mistake doctor Wright made in his statements. Oh my. That's a pretty big one. 11 is the Satoshi cryptocurrency post, and then there is this issue. This number 12 finishes us off. There's a transfer to GitHub, and I'll just read that one. It says the real Satoshi would have known that in 2010 to 2011, Satoshi took no objection to Gavin Andresen using GitHub in place of SourceForge in connection with the Bitcoin system.
Satoshi would also have known that Vladimir Vanderland had nothing to do with the transfer and that there wasn't a shred of evidence to suggest that he had. Doctor Wright's false accounts on those points mark him out as not being Satoshi. So what's going on here is that COPPA is basically on a point by point basis for 12 full points saying here is exactly why we know that he cannot be Satoshi because he doesn't know these fundamental issues. And after going through all the emails and all the stuff that proves that that Satoshi did know about all of these things, but Craig Wright didn't tells us 2 things. 1, clearly Craig's lying. But 2, with all the money that Calvin Air poured into this, they could not or did not figure out that all they really had to do was get an army of people.
Pay them through this money that they're funneling into this case a shit ton to take their time to go through all of the stuff that was publicly available and give Craig talking points on how not to fuck this up. And what did he do? Yeah, he screwed it all up. But so the question becomes the following.
[00:09:41] Unknown:
Are we done? You you you think that we are, don't you? You think this is the end of it, don't you? No. No. This isn't the end of it. Sadly, we've not seen the last of this idiot. We've not seen the last of this because there's so much potential money at stake. And if it's not him, if it's not this idiot, it's gonna be some other idiot.
[00:10:14] Unknown:
There's no combating this. There or at least there's not combating the idiocy that will enter the market, whether it's Craig or not. Personally, I think we haven't we're we haven't seen the end of Craig for at least another couple of years. Okay? At least another couple years, we're gonna have to deal with this moron. The only thing that I can hope is that this judge actually assigns some kind of physical time based penalty. What I mean by that is Craig needs to cool his heels inside of a jail cell for perjury, which Copa is alleging, and we'll see what the judge says later today or tomorrow when he's written the full the full thing that he did his full decision. Right?
We'll find out, I suppose. But if there's not to be jail time for this moron, then you can pretty much just be assured that the western justice system is in complete disrepair, and anybody can get away with anything that they want to because there is no justice. This man has gone and he's destroyed lives of good people. He has wasted the time of 100 of others. If he is not to basically have his time taken away from him like he took others time away from them, then there is no justice. There is only bitcoin however, which we're gonna get into, but not before we talk a little bit about Noster. There's some stuff going on with Noster right now that is I find very interesting, and that is basically a whole bunch of people have all of a sudden started entering in their hashtag introductions, which is what you do when you first come into, you know, a space. You hashtag introductions.
And I have seen a waterfall. It's like a dam breaking, and I was wondering what the hell was going on. Well, it turns out that this seems to be activated by this court case or not court case. I'm sorry. The United States House of Representatives passed the bill to ban TikTok. It now goes to the Senate. Right? So it's not a done deal. But it is it is past one half of the legislation and one of them and it looks like her name is garden variety Jess is one of the main people who I've never seen before I've I don't know who this person is but this particular TikTok posted I'm not going to play it because it's she's explaining nostril and it takes her 6 and a half minutes to do it, which is okay, but it's just not it I'm not gonna I'm not gonna make you listen to her for 6 and a half minutes. But this thing has 33,800 likes. This is the TikTok post. I'm actually looking at it right here. I might as well throw it up for you guys so you can see it.
33,800 likes. And I threw it up for the guys over in zap.stream. So if you wanna, like, go live if, on some of my other shows, I always announce it and, like, just pick it up on zap.stream or Twitch. I'm live over on Twitch as well. That's noster business over on Twitch. Not none you business, but noster business. This thing has 15 133 comments it has 1805 reposts and 15,000 what appear to be bookmarks. Make sure that that's right. I don't know if that's right or not. Let's just read some of these. Some of these here's some of the replies to her post that was explaining how people needed to go needed to go over and look at Doster and figure out how it works and was basically singing the praises.
One is I'm millennial, and after Facebook, nothing it centers the user as the owner of their content and forces the platformclients to compete. This could flip the entire social monetization model on its head Oh, wait till she finds out about zaps Wait till she finds out about zaps What does Steven have to say? Never expected to be learning future tech from Janis Joplin, but here we are because she kinda looks a little bit like Janis Joplin used to look. Let's see. What language is this? Relay server notes crying and elder millennial. So here the the issue is is that this thing this thing with the United States House of Representatives and the TikTok ban is having the desired effect for for the people over on on the the creator well, for Fiat Joff, the creator of the protocol that is Nostr.
But then now all the clients, like jb 50 fives, Domus, you got a HuddleBot's, Coracle, you got a whole bunch of other clients. Now they they all of these guys better start girding themselves for war because the amount of people that are piling in over the last couple of days because of this whole house of representatives decision, It's gonna stress test a whole bunch of stuff. And, yes, you're going to now have to put up with people who are here to fix Noster. I get it. You don't wanna see it. I I hate it that we're gonna have to do it.
[00:15:49] Unknown:
But, honestly,
[00:15:51] Unknown:
let's just put up with it. How about we do that? How about we just put up with it? How about we just say, you know what? I'm gonna just take a step back. I'm gonna breathe. You take a breath. I'm gonna calm my ass down, maybe do a little bit of meditation, and just see what happens. There's no reason nobody has to go defend Nostra. None of the none of us people that have been here for like over a year. One of the some of the earliest adopters that there are, there is no reason for us to do anything but sit back and watch. We don't have to yell at the new people. You don't you we really don't. Plea and in fact, I advise against yelling at the new people. Don't do it.
There's no reason for it. It's not gonna do you any good. It's not gonna do the new people any good. Let's just sit back and watch what unfolds. I'll bet we're we will end up being pleasantly surprised. Now, here's another surprise.
[00:16:49] Unknown:
As if he was not done, because it doesn't look like he is, Michael Saylor is, well, he's going to raise $500,000,000 to buy Bitcoin. No.
[00:17:02] Unknown:
This is not the same story that I brought to you, what, last week? No. This is another one. This is the 2nd round in a single month that multiple 100 of 1,000,000 of dollars are going to be raised by Michael Saylor expressly to buy Bitcoin. Why? Because it looks like he's in a pissing match with BlackRock, Bitcoin Magazine Nick Hoffman. Micah Strategy Incorporated has revealed The offering, subject to market conditions, targets qualified institutional buyers under rule 144 a of the Securities Act of 1933. The notes, unsecured and senior obligations of MicroStrategy will bear semi annual interest payable on March 15th September 15th, commencing September 15th of 2024. They're set to mature on March 15th 2031.
The notes may be redeemed by MicroStrategy on or after March 20 2, 2028, subject to certain conditions. Investors will have the option to convert the notes into cash, shares of MicroStrategy's class a common stock, or a combination thereof. Conversion before September 15, 2030 will occur based on specific events and periods while after that date, conversion will be unrestricted until 2 days before the maturity date. Proceeds from the offering will primarily fund the acquisition of additional Bitcoin and support general corporate purposes, the announcement stated. The sale will be restricted to qualified institutional buyers under rule 14 4 a with no resignation or sorry. Registration under the Securities Act or other judicial securities laws. And last week, it was announced that MicroStrategy was raising more money to buy bitcoin following the announcement MicroStrategy acquired 12,000 BTC for 821,700,000
[00:19:06] Unknown:
dollars this past Monday.
[00:19:09] Unknown:
Monday. They actually bought them on Monday, and they're gonna do another 500. But you know what's gonna happen. Right? You know what's gonna happen. Right? Somebody in the comments over on zapped.stream, tell me what's gonna happen. While you do that, I'm going to thank a few people. JC zapped me 2,100 satoshis. Dude, very much appreciated. Last Nas zapped me 2,100 satoshis. Dude, Last Nas, thank you. I appreciate that. That's actual money. I mean, that's real money. And I appreciate every single satoshi that you've given me. It's good to see my friend Kidwarp in here. Thank you. Thank you. Thank you very much for, popping back on in. I've I always miss you guys. Alright. So nobody's actually said anything at zap.stream, so I'm going to tell you. Here's what's going to happen.
He says he's gonna raise 500,000,000 with these things. Now that's going to be oversubscribed almost immediately. He will have to push it to 600, and then he's probably gonna end up clearing somewhere around $750,000,000 after the oversubscription is done. That's what's gonna happen. It's not gonna stay at $500,000,000. It's gonna be somewhere north of that to, like, I'm I'm my gut says 750. Why do I say that? Well, because last week, when he told us that he was gonna do 600,000,000, that instantly within hours got raised to 700,000,000. And I that day, I said, look, this is going to happen. It's gonna be oversubscribed.
It's not gonna stay at 700 or 600,000,000. He's gonna have to push it up. And he ended up settling at 800 and what was it? Was it 870? Let's see. Where was it? No. $821,700,000. He was gonna do 600. Ended up being 821. He's saying 500 here. That's gonna be 750, guaranteed. Guaranteed. Alright. Let's move on. IMF is meddling again, this time in a country named Andorra, which I've never heard of before. Anyway, the IMF guides Andorra to record and monitor Bitcoin transactions. Cointelegraph, Arjeet Sarkar, The International Monetary Fund provided technical advice to Andorra, a landlocked country bordering France and Spain, on recording Bitcoin transactions in response to their request for assistance.
So this country begged the IMF to come in and help them learn how to record Bitcoin transactions, how to spy on their citizenry. Please, IMF, please come into our country. Please do this. The IMF conducted a technical assistance mission in the Principality of Andorra in September of 2023 with the goal of enhancing the country's balance of payments statistics. The metric primarily deals with recording economic transactions between residents and nonresidents. Andorra, a country best known for its ski resorts and tax haven status, required technical assistance on 56 topics, one of which was its inability to record cryptocurrency transactions.
In response, the IMF report stated, quote, the IMF mission explained, the current guidance on the recording of bitcoin type crypto assets as well as how it will change in the next generation of the international standards, end quote. That's a bizarre statement. It doesn't actually say anything other than every sentence in that or every word in that sentence is wrong. Continuing, the country's financial regulator, the Andorran Financial Authority, told the IMF that banks in Andorran need prior approval for recording bitcoin and crypto asset transactions. However, no banks have requested the approval yet.
The IMF further recommended that the AFA oversee the monitoring of transactions and positions of crypto assets until September of 2024. The IMF's recommendation to monitor crypto assets was given medium priority. Andorra will be able to use the information to compile its macroeconomic statistics. A recent IMF study found that digital currencies can help Pacific Island Countries meet their currency or unique currency needs. And PICs, the Pacific Island Countries, are tiny, diverse, and geographically isolated markets that include Papua New Guinea, Fiji, Palau, Tonga, Tuvala, Samoa, Vanatoo, Micronesia, as national currencies.
However, the IMF said that developing a regional approach to digital money would help mitigate problems problems such as scalability restraints and economic volatility. Quote, some PICs are more prone to currency substitution by crypto assets and stablecoins due to weak confidence in their domestic monetary systems and the absence of other publicly supported digital assets such as CBDCs, end quote. In general, the report leaned towards slow, deliberate action on digital currency while urging the island nations to hold off on their plans to introduce a central bank digital currency citing its unpreparedness.
Now I gotta tell you honestly, I think this is one of the most tepid responses from the IMF that has anything to do with Bitcoin or cryptocurrency that I've ever heard. Usually, they lose their freaking minds, and they start screaming and yelling how it's going to destroy everything. Yet, in this these statements that the IMF has made, it's almost as if there's this there's this background tone that I'm picking up that they're moving towards understanding they can't stop it. And I think a lot of that has to do with the responses, continuous, and droning of Nayib Bukele down in El Salvador who's basically told the IMF on multiple occasions to go pound sand whenever they tell them that they need to stop using Bitcoin as a national currency.
I get the feeling that they're just getting tired. They're gonna have to shift their position. What the other fascinating thing that I found about this particular story is that the country itself called the IMF and asked them for help. And what does that tell you? It tells me 2 things. 1, Andorra doesn't know what they're doing, yet they're a tax haven they're tax haven, but they're probably all run by a you know, I I hate to say it because I've got a lot of boomer friends, but I get the feeling that this is just boomers that just they were too busy pointing and laughing at Bitcoin instead of learning how it works. So now they need people like the IMF to come in and and help them assist them. Like, how does this even work? What what is what what are we even doing?
But the second thing that it shows me is that Andorra is trying to kiss the IMF's ass, which probably means what? They're gonna need a loan. They're gonna need an IMF load. Let's run the numbers. CNBC Futures and Commodities. They got oil up. Damn. West Texas Intermediate is up over 2 points today. Back up over 80 to 8143 a barrel. Brent Norsee is up 1.7 4% to $85.49 a barrel. Natural gas is up as well. Usually, it goes the other direction when crude prices are up, but it's up almost 3 full points to a buck 70 per 1,000 cubic feet. And gasoline, as you might imagine, is creeping up as well. Almost a full point to the upside, $2.68 a gallon.
Shiny metal rocks having a bad day, including gold, which is down just over half a point to $2,168. Silver is down a third of a point. Platinum is down almost a point. Copper is down a third of a point. Palladium, however, in the green by almost a full point. We got agricultural futures are pretty much mixed today with the biggest winner, chocolate, taking a stand 6 and a third to the upside. Biggest loser today is gonna be wheat, 2.11% to the downside. Live cattle is down just over a point. Lean hogs are up a third. Feeder cattle down almost a full point. Indices are not having a good day either. And this all has to do with some economic data that rolled out today.
I'm not exactly sure what it said. I just honestly, I just care about Bitcoin at this point. But the the Dow is taken up taken a plunge half a point to the downside. S and P is down half a point. Nasdaq is down over half a point, and the S and P Mini is down 1 and one half point. You know, Bitcoin's down too. So it's some it's some inflation data that came out, and everybody's freaking out. So the first thing they do is, I don't know, make a phone call and scream sell, sell, sell. It's it's bizarre, but, hey, it happens, and we're gonna have to deal with it. Bonds, however, are mostly in the green today.
Their yields are pushed higher. The 30 year is is getting 4.43%, the 20 year, 4.54%, and the 10 year bond, 4 and a third. Yes. That's what's going on. There you go. Now price, 70,700. So we've lost about $3 overnight. $1,390,000,000,000,000, however, is still the market cap today of of Bitcoin, which is has a money supply of 19,654,105 and a half. 602.4 exahashes per second has been the average hash rate over the last 20 2 2016 blocks, about a third of a bitcoin taken in fees on a per block basis, and the halving estimate remains at April 18th 2024, the amount of block space used for taking out the trash that is ordinals remains at 2.4% of every block. So there you go. Now what's going on with mempools?
Mempools, mempools, mempools, 187 blocks carrying a 131,000 transactions waiting to clear at rates of 33 satoshis per vbyte for high priority. That's about $3.27. Low priority is 28 satoshis per vbyte, and anything under 2a half is being purged from mempools around the world. And mempool.space mining is splashing 601.4 exahashes per second. So there you go. Now from it's going to 0, which was yesterday's episode number 871 of the Bitcoin and podcast, I got blogging Bitcoin 5,000 sats. Dude, thanks, bro. And he says, blogging Bitcoin says, thanks for answering my question about Obsidian. I found a GitHub plugin that auto backs up notes to GitHub, but your answer sparked an idea. I can just use syncing and Nextcloud or file browser on Umbrel or Start9.
Yes, Obsidian does have a syncing feature. Obsidian is free, but if you want to sync it use synchronizing to other devices or other drives, whether it's cloud or some like like the Umbrel or something like that. If it's another destination other than your local, that you have to pay for. I I don't make the rules, but they gotta make their money somehow. Obsidian was a project that was born out of the COVID 19 thing. Yet a whole bunch of developers were basically in their house, and they were like, well, we got all kinds of time on our hands. Let's build something cool. And they built Obsidian. And, honestly, it's one of the slickest products I've ever seen.
It works. It works well. It doesn't it's not glitchy. It's not ugly. It's I I love looking at the environment that I'm looking at. And if you guys are serious about starting maybe, like, collecting your your thoughts up about certain things so that you can write about them later or in any other capacity that you need notes for, I highly recommend trying out Obsidian. JC Denton with a row short row of ducks 2222 says, thanks for all the hard work you put in to benefit the Bitcoin and Monster community. Love the daily podcast. To the guy asking about Obsidian and encryption, it might just be easiest to keep your entire vault if it's just a folder on a VeriCrypt volume. I don't know VeriCrypt, so you have to take that one out to how you will. 1650 from Dubravco says, Roman Sterlingoff being found guilty because of an extremely well paid expert in quotes, going up and basically telling a jury, quote, we know this person did it because we put this information into the box and the screen turned green is all we need to know about about the justice not well connected humans receive.
Tennis players stopped complaining about calls after the AI started making them. Oh, look at this. Israel's drone bombings went from 11 a month to 1,100 plus after an AI took over that authority. I don't know anything about what's going on with AI in tennis nor the Palestinian, Israel conflict. I don't know. I'm gonna have to take Dubravka's word for it. Pies with 420. Thank you, sir. No. Thank you. God's death with 337 says thank you, sir. No. Thank you. God's death again with another 337 says thank you, sir. No. Thank you. Sir Ulrich with 333 says thank you, good sir. Today is the day you will get mentioned on no agenda.
Dude, sweet. He's gonna get knighted today, and somehow or another, he's gonna he's gonna fit me in there. All I can do is say thank you. And that's the weather report. Welcome to part 2 of the news you can use. Playlists are now live on Wave Lake. So if you're a Wave Lake user, you can now create in mobile and you can share your favorite jams with us, and they've got, like, a little, like, example of a playlist that has 4 songs on it. The hard way from Martin Grooms, WWT in August, out of this, and high gravity, and they're all from different, they're all from different, artists.
So now now now now in wave lake, hold on. Pablo is saying something in this thread. Oh, that's interesting. I'll get to it in a second. So now you can build your own playlists in Wave Lake. And you can either keep them to yourself or you can share them around the horn. So share your favorite music, do it on Wave Lake. That way, the artists that are that are putting their hearts and souls into their art and putting it on Wave Lake, you know, maybe they'll get paid a little bit better than a dime after a year on Spotify. Because honestly, that's about what they get. They get host. Wave Lake is their only way out. Other value for value platforms are their only way out. Honestly, value for value is all of our way out.
And for the guys that are coming in on TikTok, if you see them, you need to start talking to them about value for value and how Zaps work, how to set up lightning wallets. You need to tag them. You need to get a hold of them. You need to teach them. You need to be educators. You need to start doing it today, and you need to not stop until you're in the ground 6 foot under. And I hate to be kinda grim about it, but if you want the world to change, then you're gonna have to want it to change well after after you are firmly planted in the soil. Pablo says, are the playlists nip 51 events?
What kind are you using? This will be interesting. They have not answered Wave Lake has not answered Pablo f seven z's question. I wanna know if these are kind or, you know, event kinds as well. I don't know yet. I I hope we find out and I hope we find out that they are in fact event kinds, on Noster because that would be cool. Now El Salvador. Speaking of El Salvador and the IMF, however, the IMF is not involved in this one. El Salvador ends income tax on foreign funds after launching the Bitcoin passport. And this was published today by a outfit called protos.com and It's written by protos staff. Let's find out what what these guys will allow.
El Salvador recently passed a new law that eliminates income taxes on foreign money coming into the country. This is interesting. This news was announced on Twitter by Nayib Bukele, the self described, quote, coolest dictator. I think I see how this is going. Who has become a prominent player in the crypto ecosystem, thanks to El Salvador declaring Bitcoin a compulsory tender. It's not compulsory at all. And investing public funds into Bitcoin and Bitcoin mining. This change follows a recent initiative that will allow Bitcoin investors to purchase a Visa and eventually become eligible for citizenship in El Salvador. Well, we knew that part. Bukele is also known for his extensive anti gang crusade.
An emergency decree was recently extended for the 24th time, and he has engaged in mass incarceration without due process. He has also been accused of a variety of human rights abuses. Yep. I knew how this was going. Let's let's see if they continue on this tact. Bukele has asserted that he recently won reelection in El Salvador despite a constitutional provision preventing him from being reelected. The election was reportedly marred by serious issues, including mismarked ballots and a remarkably high turnout. But despite these problems, because, you know, you don't want any you don't want everybody voting, God forbid that you should have a remarkably high turnout for a vote because that's a problem according to these idiots. Bukele is set to remain president of El Salvador. Fiscally, El Salvador has been struggling. I don't think so. Defaulting last year on some pension debts. Many of the previously proposed remedies such as the volcano Bitcoin bond has been delayed, forgotten, or reimagined.
El Salvador has been relying on debt buybacks as a way to try to assuage these fears. Yeah, this is gonna be these people seem to be a mouthpiece for the general media who seek to basically just poo poo everything. Because I can tell because it's like how on earth is a remarkably high voter turnout a problem? Can somebody answer me that question? How is that a problem? Mismarked ballots, well, I could see that being a problem. That's a that that is clearly a problem, but how how do you interpret a whole bunch of people that are rabid to go vote in your country as a problem? Now we might look at it, you know, the the, you know, like independent guys and, you know, libertarians might look at it and say you're, you know, the the the usual argument is that your vote doesn't count. Well, I kinda think that that really depends on where you're at.
It's certain I I don't think it counts as much in the west as we think it does. And I to the point that I'm I'm kinda uninterested myself. But in a place like El Salvador, I get the feeling that voting actually does kinda count. Now we yeah. Yeah. I know. You could be laughing because it's like, you know, I guess if you're gonna go undergo you know, put your people under the thumb and, like, you know, I don't know, like, do voter intimidation, but you'd have to do it in mass. And I'm not sure that we saw any credible reports out of El Salvador that voter intimidation was going on to swing the vote one way or another. I don't know. I wasn't there, so I don't really know what the hell happened.
But I just find it incredible that somebody would call a high voter turnout a problem. How the hell is it? I don't I don't understand people. Somebody send me an instruction manual about people. Let's not do that one. Let's go to this one. Crypto firm 7RCC is quietly advancing its eco conscious spot Bitcoin ETF, the NY sorry. Sorry. Martin Young, cointelegraph dot com. Crypto firm 7RCC is one step closer to launching its environmentally conscious spot Bitcoin ETF in the United States, potentially adding another option for Bitcoin ETF investors. On March 13th, the New York Stock Exchange submitted what is known as a 19b slash 4 form, the filing needed for it to list and trade shares of 7 RCCs spot not futures another spot Bitcoin and carbon credit futures ETF. So there's a spot Bitcoin and carbon credit futures ETF. Now is that bundled together? Let's find out. 7 RCC filed an s one application with the SEC for the Bitcoin ETF under the ticker BTCK back in December, which aimed to provide investors exposure to the digital asset alongside carbon credits.
The objective of the fund is to reflect the daily changes in the price of BTC and the value of carbon credit future contracts as represented by the Venture Bitcoin Carbon Credit Index. Quote, the index, the carbon credit index seeks to provide exposure to Bitcoin with an environmentally responsible approach by offsetting carbon emissions. Read the filing at the time, though updates from the firm on its progress since then were minimal. The latest 19b4 filing is known as the proposed rule change filing, which is necessary when a stock exchange wants to list a new product.
It's seen as the more crucial filing within the SEC approval process, though both are required to be approved by the SEC for a new product to begin trading.
[00:41:57] Unknown:
At the time of the s one filing,
[00:42:00] Unknown:
cofounder and CEO of 7RCC Global, Raleigh Perdohova said, we want to target that group of institutional investors that need that ESG tick mark. That's what it's turned into, a simple tick mark. Nobody really cares. Nobody really gives a shit. Nobody really actually does anything that they said that they were going to do about the z s g stuff. No. It's just tick box because that's what human culture has been reduced to. Did you tick the box? Oh, well, then you're good. Oh, do you really give a shit about it? No. I don't care. I just need to know whether you ticked the box. Whatever. The ETF will invest 80% of its assets in Bitcoin and 20% in financial instruments like swaps that provide exposure to carbon credit futures contracts linked to emissions allowances.
The carbon credit futures are linked to the value of emission allowances issued under the European Union Emissions Trading System, the California Carbon Allowance, and the Regional Greenhouse Gas Initiative. Speaking to Bloomberg TV on March 13th, Purdeyhova predicted that BTC prices would reach 200,000 or higher by the end of this year. Quote, the approvals of the spot Bitcoin ETFs were a catalyst, a global event. Not only did this open the door for a wider adoption of the asset in the United States, but the narrative has shifted globally, she said. Commenting on the halving, she said that the supply will be cut from 900 to 450 BTC per day being mined, but we're seeing around 9,000 to 10000 BTC per day in demand, end quote.
The Gemini crypto exchange has been named as the custodian of the 7 RCC Bitcoin and carbon credit futures ETF. Let me tell you what this is. If okay, first of all, it's bullshit. And number 2, let's just skip right over it. First of all, number 2. All this is is a different flavor of BTC spot application. Right? That that's all this is and honestly, it's this it looks to me like it's a seesaw effect where as carbon credit prices go up, it's like sort of like a hedge within the same fund. It's sort of like an auto hedge. Let's put it that way. It hedges against Bitcoin with this carbon credit and Bitcoin price against the carbon credit price.
But in the end, it's just a derivative. Yes. They'll they'll hold BTC underlying,
[00:44:45] Unknown:
But the 20% is gonna be in futures
[00:44:49] Unknown:
This to this to me is kind of a recipe for disaster for this particular fund I don't think they're gonna get the traction that they think that they're gonna think. I think what people really want right now is just a whole bunch of Bitcoin to hold on their balance sheet. That's what they want. I don't think they really give a shit all that much about carbon credit futures, but we'll have to see because that whole thing may still be going on for decades. Honestly, I'm a big fan of carbon. If you've listened to the show, I love carbon. My favorite element on the periodic table of elements. Without it, nothing happens.
There's no complexity to life. There's no life itself. It just doesn't exist. People say, well, it could be based on silicon. No. No. It can't. Not the way that we recognize life. Not in any way, shape, or form. Just because silicon's in the same family as carbon does not mean that it has the same kind of bonding tenacities and bonding tendencies. It just doesn't. It's different. Without carbon, you can forget about all this shit. And nothing matters. That's one of the reasons why it's my favorite, but the amount of complexity that the amount of cool stuff that you can get out of carbon bonding with almost anything else, but really when it bonds with itself, the things that it can produce like hormones and all kinds of stuff. I mean, it's just it it fuels.
Fuels and hormones, they're both ring structures with basically rings of carbon. It's amazing how they basically fit together in either of them. I think that we're gonna have to deal with carbon credits for a while, and I think the onus is gonna be on us to figure out how to actually leverage the carbon credit system in a positive or to create a positive environment for for Bitcoin mining. I've got ideas about that. And one of these days, I will tell you about them too when I don't sound so Charlie Day against the background of a whole bunch of red string and pictures of me looking like I'm possibly psychotic.
No b s Bitcoin finishes up the day with Pleb Lab startup Day, 2024 livestream. The Pleb Lab, their startup day is going on, and they've got a livestream. Pleb Lab Startup day held in partnership with Wolf is an event dedicated to Bitcoin innovation. It features it features the top builder competition promoting collaboration and growth among leading Bitcoin innovators in an engaging setting. It's taking place in Austin, Texas at the Bitcoin Commons. And if you wanna watch, you can watch that whole thing go down on their livestream. But what's going on what's going on today? Because today is the first day and there are in fact 2 days of this. No, actually there's only one day. That's right. Okay. So here's what here's what's on the list.
Aside from opening statements, some announcements, you've got the next generation of building on Bitcoin. You've got the future of Bitcoin with Andre Nieves, Christopher David, David Nanenio, rock star moderating all being moderated by Brandon Keyes, Bitcoin Wild West with Kian Kocia, Tony Georgiou, Topher Scott, and that's moderated by Pleb Pohit. You got building community with GE, Brian Noni, Michael Atwood, and that's moderated by Pleb Pohit as well. Bitcoin product market fit with Will Cole, Daina Amanski moderated by Umi Malhara. Fireside chat with Alan Bickerstaff, moderated by Teresa Martin. Teresa Martin's really cool. You'll you'll like her.
Road to Revenue with Parker Lewis, John McGill, and that's moderated by Brandon Keyes. Venture Capital with Matt Odell and Muzz is moderated by Carr Gonzalez. And Carr is the man behind Pleb Lab, or he's one of the guys. He's not the only guy. He's one of the guys. Carr Gonzalez, really good guy. Pleb Lab has turned into something that just like I thought it was gonna turn into where it has sort of a mind of its own and their own creation is now actually guiding Carr and his co creators of ClubLab to go in directions that they probably never thought that they would go. Community happy hour is sponsored by 10:31, and then there's some other announcements. So all this is being livestreamed. I highly recommend the one with, Teresa Martin because she's more business and marketing minded. She's one of the people that has hooked up with Texas Slim to make the bish be, the beef initiative as successful as it's been. And I am going to have, Texas Slim on the show for my one of the first interviews that I've done in a very long time, sometime next week.
Alright. That's gonna do it for the morning roundup. But instead of just going right to music, let's see if I can't get a dad joke up here for a second. Because I've I always I've been forgetting to do that. Let's see what I can find. Here, we'll find it together. I just invented the first thought controlled air freshener. It makes sense when you think about it. Okay, there's this interesting function that zap stream, zap dot stream, has loaded into, loaded into well zap.stream and it's called raid now since I never was on Twitch Twitch apparently has this function. I've just never been much of a streamer, right? I I don't
[00:50:34] Unknown:
that's sort of not. I just
[00:50:36] Unknown:
Kind of got into this like over the last few months So I'm learning all this stuff like a newbie like any other newbie would but there's this thing called raid and I let's see Who do I got? Who do I got? Unless if I go to raid and Let's see. There's oh, pleb lab. So here's what I'm gonna do. I'm gonna pick pleb lab as the raid target. And from what I understand when I do this, you're going all of you guys that are listening are gonna drop into the pleb lab livestream, which is what I was just talking about. So I'm gonna say, I don't know, hello for the raid message from coin and podcast.
Gosh. And we're gonna see if this works. So I'm gonna hit the button raid, and let's see what happens.
[00:51:34] Unknown:
And there you go.
[00:51:36] Unknown:
I guess you guys are in. Talk to you all later. 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.