Join me today for Episode 911 of Bitcoin And . . .
Topics for today:
- Ecash Transmitted by Sound
- The Bitcoin Price is Crashing. Why?
- Riot and Bitfarms Saga Continues
- The Dell Supplicants out in Force
- BROllups Are Here
#Bitcoin #BitcoinAnd
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https://cointelegraph.com/news/riot-platforms-bitfarms-takeover-board-members
https://www.coindesk.com/business/2024/06/21/billionaire-tech-ceo-michael-dell-signals-bitcoin-interest-via-michael-saylor-retweet/
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[00:00:00]
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Good morning. This is David Bennett, and this is Bitcoin and, a podcast where I try to find the edge effect between the worlds of Bitcoin, gaming, permaculture, podcasting, and education to gain a better understanding of all. Edge effect is a concept from ecology describing a greater diversity of life where the edges of 2 systems overlap. While species from either system can be found at the edge, it is important to note there are species in the overlap that exist in neither system, and that is what I seek to uncover. Uncover. So join me in discovering the variety of things being created as Bitcoin rubs up against other systems. It is 10:06 AM Pacific Daylight Time. It is the 24th June 2024, and this is episode 911 of Bitcoin and, Red Red Rain.
You know, it's coming it it's coming down. Bread Bars everywhere. We're gonna get into kind of some of the background as to why that's probably happening today and yesterday and started the whole thing started on Friday. We're gonna do that. We're also gonna talk about this Bitfarms situation. I do wanna say just a few things about the Michael Dell, crap that's going on. Just the the hero worship is just it's insane and there's gonna be some things that I wanna kinda talk about. I I kinda wanna talk about that just a little bit. I am using something called HiveTalk, right now as well as Zap. Stream.
I don't know if it's gonna work, for HiveTalk. I've got if you go to Noster and look at my announcement for today's show, you will see that I, you know, put up a, the, link to the HiveTalk room. I'm gonna talk about HiveTalk, but essentially, you it's for right now, if you go and look on Noster and go find, go find my thing, my announcement for to today's show, you'll find the link to the room. That's all I'm gonna say about it right now because it's the whole part of what it is I wanna wanna talk about, today.
The BitX, is in the news. Brolups is in the news. We're gonna talk about some, e cash situations going on. Dirjji has, tested something out that looks really interesting. And then e cash transmitted by Sound waves. Yeah. You heard that right. E cash is transmitted by sound waves. We're gonna be doing that as well. Let me see here. Let's get back to the front of my new stack. Now here it comes. $9,000,000,000 in Bitcoin. Mt. Gox is going to start repayments in July. This is one of the issues that's going on that's causing the price to be suppressed if you're worried about that kind of thing. But let's go through what's going on so that you're aware of what the hell's going on. Defunct Bitcoin exchange, Mt. Gox said that it would begin distributing the assets that were stolen from clients in a 2014 hack starting in July after years of postponed deadlines.
The rehabilitation trustee has been preparing to make repayments in Bitcoin and Bitcoin Cash under the rehabilitation plan. Trustee Nobuaki Kobayashi said in a statement posted on the Mt. Gox website today, quote, the repayments will be made from the beginning of July 2024, Kobayashi added, noting due diligence and safety steps are still required. Mt. Gox was once the world's largest Bitcoin exchange, handling over 70% of all Bitcoin transactions in the early days. In 2014, hackers stole around 740,000 Bitcoin, which is now worth $15,000,000,000 today in one of the many attacks on the exchange that happened between the years 20102013.
After declaring bankruptcy in 2014, Mt. Gox has faced numerous delays in repaying victims. And last year, the Tokyo court set an October 20 24 deadline for the Exchange's civil rehabilitation plan. In May, Mt. Gox moved over 140,000 BTC worth around $9,000,000,000 from cold wallets for the first time in 5 years. The transactions were likely in preparations for the repayments. The upcoming payouts will be made in Bitcoin and Bitcoin Cash through exchanges that Mt. Gox has partnered with. The order will depend on the progress of required due diligence with each platform.
Victims have waited over 10 years to recover funds lost when Mt. Gox collapsed. For many, this July start date offers or finally offers hope, that they will recoup stolen savings. The reimbursements are expected to distribute 142,000 bitcoin, 143,000 bitcoin cash and 69,000,000,000 Japanese yen owed to around 127 1,000 creditors. While long anticipated, some worry that the large payouts could momentarily weigh on Bitcoin's price if victims sell part or all of their returned funds. Nonetheless, affected users are eager to move on after Mt. Gox's hack and failure became symbolic of Bitcoin's early days. The repayment represents an ending chapter in Bitcoin's history. Well, that's true.
The question really is, that's the end of the story, the question really is this right how many of the 127,000 people who have waited 10 years are going to immediately sell. My honest opinion is probably gonna be a lot more than we want. It's gonna be more than we think, and we're just gonna have to be prepared to take take it on the chin yet once again. I I wish I had better news. I just don't. And I just I can't lie to your ass, so there it is. But they there's going to be plenty of these guys that are just going to instantly sell.
They've been waiting and waiting and waiting and waiting and waiting and Right now, we're at $60,037 on the price of Bitcoin. That is down from almost 72,000 dollars,000 just a few days ago. Right? So, a $12,000 dip. I mean, I'm not I'm not saying everybody run to the hills, but what I am saying is that we go through these these these cycles of pain. And we're we're constantly having to deal with stuff that we forgot about happening in the past and and for the new guys that are in that come into bitcoin they don't know how they don't know most of the history. They don't know the gotchas that are sitting there waiting in the wings just to come out at the at just at the right time.
Because we've got another thing that's weighing on the price as well, and it's Germany. Alright? So and this is already this, by the way, what I'm about to say already happened. This is sort of what started the situation. Alright? So this actually happened last Friday. Bitcoin dips 3.5% as the German government sells 325,000,000 Bitcoin over 2 days. Bitcoin slumped on Friday morning with its price dropping to around 64,700 as volatility fears came home to roost. In the last hour, bitcoin has lost nearly 1.2% of its value extending a troubling trend as it has seen a dip of nearly 9% over the past 2 weeks. Many believe the slump was triggered by German authorities dumping seized bitcoin assets.
Europe's biggest economy recently began selling off portions of a hefty stockpile of bitcoin valued at around $3,000,000,000 that was confiscated from movie2k.to, a movie privacy website. And that was back in 2020. I'm pausing to tell you this is one of the gotchas I didn't even hear about. I don't remember anything about movie 2 k dot t0 being abscond or having their Bitcoin absconded with by the German government. And yet, here we are today watching a sizable amount of Bitcoin being sold in the open, which is clearly depressing the price. Now, to continue on, the German police seized 50,000 BTC from the piracy website in January, which it described in a press release as the most extensive security of bitcoins by law enforcement authorities in the Federal Republic Republic of Germany to date. It's a bad translation, but we'll deal with it. The country has sold off more than $325,000,000 worth of Bitcoin in the past 48 hours with the huge possibility of a further sale. Blockchain analytics firm Arkham said yesterday on Twitter Having seen a slippage of the price of BTC, the German government is releasing significant tranches of BTC and has taken a view that the price of BTC is to soften for a while to come.
It's worth remembering that the BTC being sold was seized due to illicit activity. So what's more interesting is what German government is planning to do with the capital once it's sold. In March, Bitcoin spiked to an all time high of 73,797 before pulling back, but then it slumped to 56,527 in May before recovering. Bitcoin's recent decline is not solely due to the German sell off. The bearish turn came at a time when major indices such as the s and P 500 also slumped amid wider negative sentiments in the financial markets. Earlier attempts to push Bitcoin's price towards 66,000 were thwarted by sellers. Thwarted, I say. Freaking thwarted, leading to significant liquidations of long positions.
The last 24 hours alone saw about $150,000,000 worth of total liquidation, 73% of which were long positions. So those longs got hammered even further. Right now, I think we're actually looking at, I wanna say $300,000,000 in total liquidations. Cloud Fodder, thank you for liquidating 420 of your satoshis to give to me. Very much appreciated. Very, very much appreciated. Kidwarp. Kid Warp. Yeah. Oh, oh, Kid Warp. Yes. That was a camera feed. Sorry, guys. For the for the, you know, guys listening to the regular podcast. I'm interacting now with the people over on zap.stream. Kidwarp, if you I'm I am trying out HiveTalk.
This is a new application that was delivered by BitCarrot. And honestly, it's kind of amazing. I'll be talking about it a little further on in the show. But, if you go back to the show, if you go to my nostril feed and look at the last thing that I posted, I posted the the URL to the hive talk feed. If you want to dive in there and try it out for yourself, then just click the link and it should dump you back into the room. If it doesn't and there's a problem and you tell me about it in the chat and I don't see it, please forgive me. I'm one guy. I got no producer. I'm I'm all by myself on my little deserted island over here. But getting back to this this issue of the $300,000,000 in longs that were liquidated over this past couple of days.
Please remember that we were like this one said, we got down. It's it's it's it's, you know, I don't know. We're at the in the better part of June. Right? And by that, I'm meaning a little bit over halfway through. But back about halfway through May, about May 15th, we were talking about $56,000 Bitcoin after a $73,000 peak or almost a 74. There was so I've I've seen, like, our trading view, some of the, the prices of Bitcoin that I follow from, I I can't remember what exchange I'm following, but it got up to, like, $73,993 on that particular exchange. So we were just under 74 and we tanked it all the way down to 53,000 and what was it?
50 no, 56,500. Right? So, we've been here before, and that was just last month. It was just last month. Now if we forgot about it, then then the last couple of days hurt. If you don't forget about it, then it's like then it's just like I'm annoyed. That, I mean, I'm not depressed. I'm not mad. I but I am annoyed because it's like, really? Now I got the 58 k gang freaking out again about how they're gonna see 58. Do you honestly guys, how how long do you want to hang out at 58 k? Please stop begging the 58 k gang gods for some kind of relief because honestly, we we we've gotta move. We we gotta get out of here.
We gotta get out of this place. I'm telling you. And speaking of getting out, it looks like riot may or may not have, relinquished their, try their, hostile takeover of Bitfarms. Maybe Turner Wright from Cointelegraph will tell us a little bit more about it. Riot seeks to have 3 Bitfarms board members and says that it now holds a 14 0.9% stake in the company. Riot Platforms, which has been attempting a takeover of Canadian mining farm or firm Bit Farm said that it plans to replace 3 members of the company's board of directors in a June 24th notice.
Riot said that it held roughly 14.9 percent of stake in Bitfarms after the mining firm announced its shareholder rights plan to prevent it from acquiring more than 15% of its stock. Rather than continue purchasing Bitfarms shares, Riot planned to replace 3 of incumbent Bitfarms board of directors on a potential combination is just not possible. Riot has informed the Bitfarms board that it has formally withdrawn its previous proposal to acquire all Bitfarms common shares at a price of $2.30 per share and stands ready to engage and negotiate with a reconstituted Bitfarms board to pursue a mutually beneficial combination of Bitfarms and Riot. I love how they're using the term combination and not takeover.
The mining firm intended to replace the board members with 3 people that were completely independent of Riot and Bitfarms, John Delaney, Amy Friedman, and Ralph Goering. Bitfarms stock price on the Nasdaq has increased more than 30 6% in the last 30 days amid the takeover plans but dropped 6% in the previous 24 hours. Cointelegraph reached out but hasn't received any response. The mining firm claimed that Bitfarms board has been unwilling to engage constructively regarding the takeover and said the company had botched its CEO succession process, former Bitfarms CEO Jeffrey Morphy stepped down in May after filing a lawsuit against the firm, Nicholas Bonta, has been acting as the interim president and CEO but could be removed as one of the 3 board members if Riot's appeal to shareholders is successful.
The planned overhaul the Bitfarms board was the latest development in Riot's plans to move in on Bitfarms. In May, Riot offered to acquire the mining firm for $950,000,000 and began increasing its stake until Bitfarms implemented its quote poison pill strategy, capping any holdings at 15%. Okay. So that's that's the what's going on today. Now, so, Riot has said that they've removed their tender offer to take over the entire company because they're going another route. And just because they've removed some people have been reporting that it's it's over. They're not, you know, and Riot's not gonna take over Bitfarms. Nothing could be further from the truth. Riot is going to own Bitfarms.
The because they're doing the same shit legacy finance has done for decades decades. They're doing a hostile takeover. This time this time, they're putting they're planting members into the board of directors that they say are impartial to either company. Do we really know? Is there any way to really prove that? Is there any way to prove that? No, there isn't. There is there is no way to prove that one way or the other. Do so I make an assumption, and it is an assumption only, that the 3 if 2 of the 3 board of directors at minimum probably lean towards riot.
And what they're going to do is they're basically going to put enough people on that board of directors that they will swing the vote to cancel the the poison pill and then allow the takeover to actually occur. But right now, what riot is saying is true. They it is an untenable situation for them to engage in this particular board of directors, so they are going to replace enough members of the board so that it is tenable. And honestly, that's just to me, that's skullduggery. It it is. It's just it's it's I'm I'm really sad to see Riot engage in this kind of behavior.
I'm sure that they think that what they're doing is just fine. But I when I look at these companies, I see something that somebody built. Somebody took their time and their their their courage to build something. And because that they made the mistake of going public so that they could get more money, they open themselves up to things like like hostile takeovers by people like riot. That's what I see. So the word of advice, it's bootstraps all the way down from this point. VC money. IPO money. All of this is just going to hamstring your ass. And just like things that happened in Bitcoin way in the past that we forgot about that are now coming back to bite us in the ass that IPO offering that you did is probably gonna come back to bite you in the ass just the way Bitfarms is finding out right now. Let's let's move on.
This whole thing with Michael Dell is embarrassing. It really is. I'm gonna read you just a couple of, sentences from this one out of CoinDesk written by Steven Alfer entitled Billionaire Tech CEO Michael Dell signals signals, mind you, signals Bitcoin interest via Michael Sailor retweet. Everything you need to know about about what you what I'm about to get into, you heard. Everything about that every word in that sentence is wrong. And I'm gonna tell you why. Michael Dell, CEO of a $100,000,000,000 plus market cap Dell Technologies, showed at least some vague interest in Bitcoin recirculating a BTC friendly post on x. From Bitcoin evangelist Michael Saylor.
It started on Thursday when Dell posted scarcity creates value. That prompted a reply from Michael Saylor, the executive chairman of MicroStrategy saying bitcoin is digital scarcity. Which, oh my God, Michael Dell then reposted. Oh, the humanity. The exchange didn't end there. With Dell later posting an image of Sesame Street's Cookie Monster that had been digitally altered, apparently by Saylor, to show the famous children's character gobbling bitcoin instead of cookies. Of course. At first, the CEO and now executive chairman of MicroStrategy, Sailor has not only led that company to the acquisition of a shitload of Bitcoin worth $15,000,000,000 over the past 4 years, but he's also evangelized for other corporations to follow suit with their own balance sheets, but only a small number of companies have done so. Alright. So, let's get back to the meat and potatoes of this. This is not a let's be clear. Nothing but pure speculation that Dell that Michael Dell has any interest in Bitcoin at all. But second, the fucking sycophantic bullshit that I'm seeing over on Twitter. And this is what I like about Nostra. I'm not seeing a whole lot of Michael Dell or Michael Dell versus Michael Sailor or Michael Dell is going to buy Bitcoin. I don't see any of that crap on Nostra. But, man, when I go over to Twitter, it was all over my bitcoin feed. It was just I mean, honestly, it was just sad and kinda cringe.
And I I cannot I cannot ask you many more times than I already have to please get over on Noster. If you were tired of listening to these people just circle jerk each other every time somebody like a billionaire sneezes and you don't want to hear it anymore, then you're gonna need to go to a place where it just doesn't really exist. Hence, noster. And speaking of noster, let's talk just a little bit about Hive. Alright. So Hive talk. How to do this? Okay. Bitcarrot. This is the guy and by the way, high quality nostrilch Over on nostril, bitcarrot, bit. Is it hold on for a second. I wanna make I wanna make damn sure that I've I've got, I'm actually gonna, show this. Hold on. Let's let's just get it on up. Let's get it on up over here, so that the guys in zap.stream can see it.
And we got a Bitkert. Well, there we go. This is the dude. Alright. For all of you guys that are over there watching on zap, zap dot stream, this is bitcarrot, bitkarrot. That's bitkarrot with a k, not a c. He's done something called Hive, and I'm gonna throw Hive up right here so that you can see it. He announced it's, I think, over the weekend. I think he's been hinting at something for the, you know, maybe like the last week. But I first saw him directly, talk about hive talk as an as his creation that is now out in the wild, and it works.
First of all, I'm gonna go over here. This is I have logged in directly with my Nostr NPUB and Insec that is carried by the Git Albi extension that I use in my browser. So what is HiveTalk? A) you can use your Noster credentials. B) it's a free, browser based real time video calls website. Think Zoom. Right? So, right now, you can see that the active room is there's one active room and it's it's this room. If you're if like I told Kidwarp, if you went over to Noster, looked in my profile, grabbed my last note, this particular, what am I trying to say? URL, I noted out earlier today. So, if you wanna go see what's going on, you can.
But what's nice about this is that it's really polished out of the box. And that's important. Now, does it have I mean, is it still alpha? Essentially, yeah, kinda. But this is one of the most polished alpha situations that I've ever seen. In fact, let's go over here. I'm gonna throw this dude up in the chat. I've got the ability, like, on the left hand side of what I'm seeing right now, I've got the ability to share a room. I can toggle and hide myself, so we'll do that. So the only people that I can see it looks like Duck is over here. Yeah. Duck's over there.
So I can hide myself from the room or I can show myself. And right now this is one of the few times that I actually ever put on, like, the video. I've got my webcam up, which is didn't realize that my webcam was that shitty. Wow. That is awful. That is freaking awful. And CloudFodder just dumped in. So, there we go. Has raised the hand. Oh, no. I am I I will practice on on rate, getting people up on the on the state stage. But you gotta remember that right now, I'm actually recording using a different d a w that does not really take in the sound of anybody else. So the amount of editing that I would have to do if I started bringing people up on stage while I'm actually trying to cut, what I'm doing is a little it it just becomes so don't I'm not gonna call anybody up on stage.
That will come I'll do that later but just bear with me bear with me right now okay let me let me do my thing I can stop my, like, mute my mic. I can mute the, or I can start a screen share if I wanted to. I'm not gonna do that. I'm gonna cancel that. Access denied, bitches. And oh, and I can record. Now, this is what's what I've this is one of the only reasons why I use Zoom is that I can get in. I can record somebody. There's a public chat that's getting in there. I can get in there and I can, pull the recorded file out and then I can pull yank the audio out of it and I can use that zoom stuff for, to plug in the audio, of an interview into my daw. Right? I can just throw the the wav files right in there. And that makes it really really I mean, it's nice, but I gotta pay like $24 a month.
I would much rather pay Bitcarrot zappable zaps on a per use basis, very much like zap.stream, to be able to use this service. And that's exactly what I will be doing. I'm gonna this looks like it's gonna work. In fact, I'm gonna record just a little bit just because I'm just gonna record. I don't know, I'll I'll record the the camera. Actually, no, hold on. I'm gonna stop recording, and I'm gonna cancel that. Hold on, I wanna do something else. I'm gonna record and I'm gonna do the screen window. I'm gonna do this one. Alright.
So I'm recording the screen that I've got. I've got Duck up here, sir Sleepy is in here. Hey, how you doing sir Sleepy? And who else is in here? I can't see I can't I can't see his name because this oh, wait. Let me hide that. Cloudfather. Cloud fighters in here, up on the screen. And I'm so I'm gonna record this and see what happens with the audio. I I don't know, man. We'll we'll find out. But I can also raise my hand if I'm in another group chat. So there's 4 people in this room altogether. I have emoji reactions. There's chat room.
There's shit. There's transcription ability. There's a whiteboard. Let's put the whiteboard up and see what happens here. I can draw. Yay. Let's see. Oh, wow. That is the little it's a little funky. Oh, no. Everybody else is drawing on the board too. Somebody draw a dick butt while while we're there. And then, so I've got some settings that I can do. There's some stuff about room, video, audio, moderator, recording, media, profile, aspect, style. I can change the background colors and stuff. Honestly, dudes, this hive talk is one of the most polished things that I've ever come across that's come out of people that are building stuff specifically.
This is really more about Nostra than anything else. Cause you didn't I didn't hear about this over on on on Twitter, but I'm not there all that often. But hivetalk.org. Hive.org. You gotta go check it out. If you don't go check it out, you're really gonna miss out. Now, I'm gonna stop recording that one and I'm gonna throw it into, yeah, my fire shot. I'm gonna say okay, and then I'm going to dump out of that and get out of that and go back to your to the recording, where I will now say, let's run the numbers. CNBC Futures and Commodities, they got oil. West Texas Intermediate is up over a full point to $81.61.
Brent Norsey, likewise, up almost a point $86.3. Natural gas is up 2 full points, $2.75 per 1,000 cubic feet. Gasoline taking a nosedive today, 5th of a point down to $2.50. Good luck finding that actual price, you know, anywhere. Metals are mixed fully. Gold is up a half point, silver is down a third, platinum is up a quarter, copper is down a quarter, But, palladium shooting it to the moon 6.21 percent to the upside. Ag, well, it's mostly in the green today by some pretty impressive numbers. But let's start with the biggest loser being chocolate, 11.5% of the downside. Biggest winner today is cotton. 4.6% to the upside, followed by coffee's 5.3 and sugars 2.37.
Live cattle are likewise up 3 quarters of a point, but light lean hogs are down damn near 2 points. Feeder cattle are up 0.14%. The Dow is up 0.68% at this time, but the S and P and the Nasdaq are both down. Nasdaq kinda sucking swamp water because Nvidia is going down. And since Nvidia is propping up the whole market right now, well, you can imagine that the Nasdaq would see some falling. And it's fallen by 0.8%. The S and P is down no. Actually, S and P is up 0.88%. Let's get over here to Clark Moody's dashboard where we're looking at a $60,000 no. $60,180 price.
That is a $1,190,000,000,000 market cap. And now we may only buy 26 ounces of shiny metal rocks with our 1 Bitcoin, of which there are 19,716,439.87 of. And average fees per block are really low. They've fees have been really manageable as of late. 0.13 BTC on average in fee is on a per block basis. And how many blocks are there you ask? If you did ask, there's a 183 blocks carrying 198,000 unconfirmed transactions for, wow, high priority rates of 9 satoshis per vbyte. I smell consolidation is what I smell. Low priorities are same. 9 satoshis per v vbyte.
Anything under 1.37 satoshis per v byte are being purged from mempools around the world. And hash rate, what are we looking at with hash rate? Wow. 615.6 exahashes per second. Actually, that's not bad. That's not bad considering all the the havoc that's being caused by the miners with these low low prices. Now from scaring dead people, which was episode 910 of bitcoin and wartime boosted me 3333, satoshi says. Cheers. Joey DD boosted 3333 said nothing. Axelrod with a 1000 said the coverage on the, Bank of Japan Bond Bomb is epic. Thank you, sir. No, sir. Thank you. God's death with a 1000 satoshis. Thank you, sir. No, thank you. The bird boosted me a 100 sat says, great show as always. I appreciate that.
Pies with a 100 sat says, thank you, sir. No. Thank you. And that's gonna do it for the weather report. Welcome to part 2 of the news that you can use the BitX Supra. Has well, it's not really released, they're working on it. But it's the 4th major revision. And this time, it was something called the BM 1368 ASIC that is being salvaged or harvested or cannibalized, or however you wanna call it, from the Antminer S 21. So if you're wondering the BitX is a fully open source hardware Bitcoin ASIC miner. Supra is the 4th major revision of the Bitaxe and it now includes the BM 1368 ASIC from the Antminer S21.
Quote, the newest member from the Bitaxe lineup, the Bitaxe Supra is working. Single BM1368 ASIC from the ampminer s21 is running around 620 gigahashes per second. Open source everything. Another huge effort from the open source miners United crew on figuring this one out announced Scott 9000 back in February Quote, the BitX Supra 401 designed as ready for release. Look for the branch if you want to dig in. Now the git repo is total mess, so I'm in the process of reorganizing it. Stay tuned, Scott said on March 24th. So here's the the here's some of the stuff on the BM1368 68 ASIC mining chip from the Antminer 21 or s 21.
It's an undocumented Shaw 256 minuteing ASIC from Bitmain. And it's used in the Ampminer S21. Now, Bitmain claims that the BM 1368 has a 17.5 joules per terahash efficiency, which is pretty good. The b m 1368 is brand new and isn't available anywhere yet. The b m 1368 has a different footprint and pin configuration from the BM 1368, the 1369, and the BM 1387 that you found in previous BitAxe's. And he goes on to talk about how to, you know, get the plans to build this thing if you wanna build it yourself. And BitAxe is is an example of the sort of like the commodification of bitcoin mining which I love to see now there seems to be 3 or 4 different different people that are making these quote unquote solo miners or mini miners I can't remember there was the the bit main was it bit main not bit main ah who was it I can't remember who it was. It was called the it's called the mini miner that may be that may be Jack Dorsey's outfit that's doing the mini miner. But they've got one and then there's a couple of other ones.
So this is I believe this is kind of represents the first step in the commodification of Bitcoin mining which we really need to see. Because that whole thing with right and bit farms, that worries me. It's okay to be worried about shit, guys. It doesn't mean that you're, you know, doesn't mean I'm get, you know, I'm freaking out. But it's these these are the things that I'm concerned about. This centralization of mining is not good for Bitcoin. And it's going to be people like the mini miner, the bit axis of the world, all those guys. This first step into the commodification of ASIC mining on a personal basis is how we pull that back.
That's how we get this thing this whole thing back. And with the addition of stratumv2 so that you're mining little tiny miner that may make you only a few satoshis per day. It's not really gonna cost you all that much to to run. You're only running a single chip out of, like, multiple chips that they're cannibalizing off of these Antminers that BitX is using. I think the the ones that are available right now, they're pulling them out of an s 19. The ones this one that I just, told you about, that's gonna come online soon. That's gonna come out of the, out of the s 20 ones.
So, consider it. There I mean, I think the Bitcoin mini miner that I was telling you about last week is $200. Not bad. And you can just set it and forget it. It's running Stratum V2. It'll be able to jump around mining pools. It'll be able to select your, you know, it'll be able to not have to worry about selecting the templates that whatever mining pool you're on has to do that. It it it makes mining even more self sovereign. So between stratumv2 and these little mini miners that are commodifying Bitcoin mining, I think we've got a good trajectory. I I really do. I think we've got a really good trajectory. The this next one, however, I'm not so sure on.
Brol ups. I'm sure other people are pronouncing it b roll ups, but the way it's spelled, it looks like bro. Brolups. Bitcoin native rollup design. Quote, introducing brolups, a bitcoin native rollup design that works with a native bitcoin peg and requires no changes to the bitcoin protocol, announced Barak. Now, if you're wondering, Barack is the guy that broke the lightning network last year, And he broke that son of a bitch hard. Right? And, you know, like some kind of, like, 999 or 998 out of 999 multisig that just did just wreaked havoc all over the lightning network. Well, he's added again, quote, b roll up or brol up is a Bitcoin native roll up design that works with native peg. The peg is enforceable on chain and can be unilaterally redeemed at any time.
Brolups are in a category of their own, neither optimistic ZKP nor sovereign, said the developer. ABrollup or brolup is operated by an operator or a quorum of operators. Operators provide liquidity to the protocol and advance the rollup state by changing Bitcoin transactions at regular intervals. B rollups use the Bitcoin blockchain as a data availability layer and run transactions on a custom VM virtual machine known as the Bitcoin virtual machine. I've told you about this before. B rollups build upon the concept of virtual UTXO's, heretofore known as VTXO's, and utilize them as the peg.
However, are not actually moved to a separate piece of chain, so called the rollup. Rollups simply enable virtual UTXOs to be used in smart contracts as payable constructs. Rollups are, in short, coin swaps between and something called call datas, Like how Arc Network swaps VTXOs for new VTXOs, Brolup swaps VTXOs for call data plus new vtxos, Barak said. Are currently in the design phase and the project is not associated with any issued tokens. Interest in learning more and contributing? Well, you should definitely join the Telegram community channel, which they have a link to. Alternatively, you can reach out to me on Twitter or Noster, said the developer.
Alright. Sir Sleepy over on, zap.stream says he's watching on Hightalk l f g o. That's right, bitches. Alright. Now this one from dirggi, and followed up by by a reply to it that this particular note by Max Hillebrand really brings it home. I'm gonna read you their g g first. Okay, so here's his note over on nostr. Today, I sent e cash to a WiFi gateway to go online. Here's 21 100 SATs. Give me Internet, please. And it worked. And it will be open source. And it will run on all open WRT routers. Okay. Let's I'm gonna try to pull this apart so that we understand it at least as far as I think of what's going on but first max Hillebrand replies to that and says this is actually a super hard problem to solve.
The customer is offline, and that's why he needs to pay for WiFi. But which payment methods work while the sender is offline? E cash is so beautiful with off line payments. And that's the rub. So you got Durgegee who wants to get online at a at a wifi access point. Let's let's let's pretend he's using his phone or or a laptop. And he's at, I don't know, some Starbucks or something like that. And he needs to get online and he wants to pay for it. He wants to be like maybe it's not, you know, maybe some some day soon people stop offering free WiFi access. Who knows? But just pretend that you got to pay to play, alright? So you need to get online with WiFi but you don't have access to Wi Fi, how are you going to make an electronic payment?
ECash seems to be solving this issue. So dirgi g sends an e cash payment offline. Now I don't know exactly how because that's a little bit farther above my pay grade when it comes to this cashew, amphetamine, and e cash stuff, but it's clearly happened. He's got photographic evidence and then we got Max Hillebrand saying, hey, this this this actually works because e cash is able to handle payments offline that means that you would be able to gain access to something like well what am I trying to say? You'd be able to gain access to something like Wi Fi or some kind of Internet gateway offline and then able to get online because the other end of that gateway said, yeah, he's he's paid.
This is brilliant. And I love everything about this. So watch watch for more offline e cash solutions and start thinking about what can you do with that? I mean, to be to be able to be able to pay something offline to gain something online like Wi Fi access or, you know, some kind of gateway or something like that. What else can we do with that can we do like magazine subscriptions could we what what what can you think of That you have to pay for, generally speaking, being online, that unless if you're not online, you're not able to send a payment.
What what does e cash solve for you? Or what in your mind do you think can be done that way post all that shit on Noster and like you know tag people like Max Hillebrand tag people like Dirgeechee tag people like me Ask the question. Would you know I see this as an offline problem. Will e cash solve it? And if I don't know, which I probably won't, then I'll tag her g g for you, so you don't have to worry about it. Okay. So, the last thing that I want to talk about today is this one. And this one's kind of freaking me out. Cali, the guy from Cashew, you know, Cashew, which we're talking about eCash anyway, so we might as well talk about Cali. And Cashew and eCash, he posted a note on Noster the other day that says, well, it's it's a note that it doesn't actually say anything. It's got a link which we'll get to here in a second. But he's got a screen capture of him typing something into what looks like a digital audio workstation.
And it says: if you were reading this, then things are working. There are 21 Satoshis here as a e cache using the Casu protocol being transferred over sound. The Cashew token is a long strike. And then and then the the gift, that he posted flips over. What what what the hell is Cali saying? He's he's he's built a way to transfer e cash over sound. Oh, over sound. Did you hear what I said? If you don't understand what it is that I'm talking about, I want you to listen to this. Hold on. I gotta get my headphones on to make sure that this is actually going to come through. Now that that is 6 minutes long.
Okay. So I'm not gonna I'm not I'm not going to play you the whole thing because that's just a that's a waste of time. But let's let's go through this. This is the website. Well, it's it's it's hard to say. It's like crrdlx dot0n.fleek.co. I'm sure he's going to have a different URL like later on, but this is his Cali's description of eCash by sound. A proof of concept to transfer Bitcoin SATs as eCash via sound using the Casu protocol. ECash can be sent digitally as text data, visually via a QR code reader, physically as a piece of paper with text or a QR code printed on it. How about audibly?
Can e cache be sent via sound? This will use PSK 31 as the text via sound protocol. Psk31 is similar to Morse code, except that psk31 allows for upper and lower case characters, which is necessary for a Cashew token. To try to receive these 21 sats as e cash, you need the following: a Cashew wallet, and there are many, I used cashew. Me because it is browser based. Software to decode p s k thirty one. I used fldigi, or f l d I g I. The only one I found for Linux, and there are others for Windows. Search, find, install, and then 3 the audio above.
Receiving data using fldig looks like the gif below, and that's the gif that I was describing earlier. Just to explain what's going on here. A sound file is playing. You cannot hear it in the GIF, of course, but there was sound playing audibly when the video was captured. My wife confirmed that it is an annoying sound. On FL Digi I set up op_mode to psk 31. The microphone on my computer is picking up the sound. F l d I g I shows the audio in the waterfall, the blue stream underneath 2,000, and he's describing the gif. The red bars are the tuner to pick up the blue stream. I manually slid it over to the stream. F l d I g I then simply decodes the sound into text.
This is how you will hear and see the Cashew token. I tested the process successfully. I copied the token from fldigi and used cashew.me to receive e cash and pasted it into the cash in the Cashew token. The token came back as valid. I did every step except receive the e cache. See image below. In other words, this should work. Note that if the token has already been claimed by someone, you will get an error as such below, and it just basically says the tokens already been claimed. This will be the world's first e cash sent via sound and he's asking a question. I don't know.
Still, it has a nice ring to it. Get it? And maybe you can be a small part of eCash Bitcoin history. I I don't know how to tell you how important this is. ECash being able to be transmitted by sound, think of this. Think of okay, first of all, a cas token having to be transmitted via 6 minutes of sound kinda sucks. But let's say that it wasn't. Let's let's just pretend for a second that an e cash token could be transmitted over airwaves. Right? Just I mean pressure waves, not radio waves, not ham radio, not microwave, actual physical wavelengths propagating, you know, through the air as sound that human being beings ears could pick up.
Alright. But it only takes 10 seconds. Or let's say let's say 5 seconds or even you know, be really nice? If you could pack all that information into a sound that lasted for exactly 2 seconds and then you're at a protest and then you got a bullhorn and then, you know, there's a whole bunch of protesters out there that are, you know, somehow or another maybe they need cash. Think of the trucker protest. Maybe the truckers when they're not honking their horns could use some e cash tokens, but they they can't get them because, you know, they they messed up and and telegraphed what their Bitcoin addresses were. And miners don't wanna mind that because Trudeau's government got to him and said, hey. Don't mind these transactions from these wallets. What are you gonna do? Well, if I got a bullhorn and I got, like, you know, 40 truckers out there and I start blasting 2 and a half second sound burst and each one of them is like a 500,000 satoshi, you know, e cash, then all of a sudden you get my drift.
Now, there's obvious problems with what I just said. There's no way to know that the same guy isn't the fastest dude in being able to to, you know, download and and have this whole thing transcribed and then get it to an e and he gets multiple e cash tokens. I I can't solve every fucking problem at this point. But what I am saying is think of the possibilities. And clearly, if it can be transmitted by sound, then it can be transmitted by FM, AM, microwave, ham, you name it, shortwave, longwave, don't fucking care. And now, I can start bouncing e cash tokens off the moon onto the other side of the planet.
And I don't even have to use the Internet. And as we all know, as we just saw, as we just saw, I can use that e cash token offline to open up a portal to the Internet. I cannot tell you what it feels like in my brain right now. Because everything that you thought you knew and certainly everything that I thought that I knew about where we where we are going has now I'm now often I have to go in a different direction. I thought I knew a thing, I don't know that thing. And if I am so it's not that I'm wrong. It's that I there was no this was not on my fucking bingo card.
This is not on my bingo card. Sound being used to transmit money that was not on my bingo card. Okay, so there's a couple of other things down here at the bottom that I want to get to. He's got a follow-up. And I'm gonna read you the part that I think is the most fascinating. The e cache over sound challenge message was originally put out in 3 places. 1, it was immutably timestamped on the Hive blockchain. 2, it was, you know, to Stacker news and 3, it was posted up on Nostr. Some great discussion has spawned on the Stacker news page above and on this Nostra thread. Things like possible payments via sound and data transfer beyond human hearing were discussed. Think of a dog whistle where you can't even hear it. That way, if you're transmitting an e cash token at a protest and the cops can hear it and they go, that's an e cash token. We got to take them down and they just beat your club your ass half to death and you don't get that shit out. Well, what if you were able to transmit that sound, nobody could hear it.
See what I'm saying? There's I I I all the doors and all the windows and all the walls are being not only opened, but could be completely blown out. There's there can be no gatekeepers. If I can transmit money in an ultrasonic frequency in public, in the open, and no authority would even know that I was doing it. At least not until they, you know, put up some ultrasonic, you know, capable microphones and triangulate my position. But, honestly, good luck because we're gonna figure out something beyond this. And what could it possibly be? Well, I'd love to see an e cache transmitted by light project.
That's the last thing that's said in this follow-up. So now, think of a laser pointer. They think of a laser pointer or better yet. You can just think of like the, the way that ships communicate with each other at sea when they're having to run radio silent and they use that whole flip light thing. If you never if you don't know what I'm talking about, it's just a great big spotlight that's got some louvers in front of it and a lever, And you can basically move it back and forth so that it turns the light on, shuts the light down without actually turning off the electricity and turning it back on which screws up the bulb. So these flaps just basically kill the light. So you can transmit Morse code. But let's say that I've got like a laser pointer attached to the US or the well, whatever socket you've got on data transmission socket you've got on your phone.
And I can modulate that pulse. And then I can aim that pulse I can aim the laser using the camera on my phone to somebody who I know has a camera looking at me across the protest, and I'm transmitting him an e cash token. I don't I don't think authoritarianism has a hope in hell. I think I think here's what I really think. We've already won, but we refuse to realize it. I'm not worried about them. I'm worried about us not realizing that we already won. Some of us realize it, and and but we won't admit it to ourselves. We won't take the win. We refuse to take the win.
We won, man. Shit's done. It's over. And speaking of over, we're going to go ahead and close this show out. I thank you for being here. I hope that the hive talk experiment works. If it's if today has been very confusing for you. My apologies. I, I, I really don't mean it to be confusing, but I had 2 streams going on It, I had the zap dot stream going on at the same time that I was running hive talk. I'm going to have to correlate the data and see what the hell exactly happened. And when I do that, I will report back to you. But until then, I will see you on the other side. This has been Bitcoin and and I'm your host, David Bennett. I hope you enjoyed today's episode and hope to see you again real soon.
Have a great day.
Good morning. This is David Bennett, and this is Bitcoin and, a podcast where I try to find the edge effect between the worlds of Bitcoin, gaming, permaculture, podcasting, and education to gain a better understanding of all. Edge effect is a concept from ecology describing a greater diversity of life where the edges of 2 systems overlap. While species from either system can be found at the edge, it is important to note there are species in the overlap that exist in neither system, and that is what I seek to uncover. Uncover. So join me in discovering the variety of things being created as Bitcoin rubs up against other systems. It is 10:06 AM Pacific Daylight Time. It is the 24th June 2024, and this is episode 911 of Bitcoin and, Red Red Rain.
You know, it's coming it it's coming down. Bread Bars everywhere. We're gonna get into kind of some of the background as to why that's probably happening today and yesterday and started the whole thing started on Friday. We're gonna do that. We're also gonna talk about this Bitfarms situation. I do wanna say just a few things about the Michael Dell, crap that's going on. Just the the hero worship is just it's insane and there's gonna be some things that I wanna kinda talk about. I I kinda wanna talk about that just a little bit. I am using something called HiveTalk, right now as well as Zap. Stream.
I don't know if it's gonna work, for HiveTalk. I've got if you go to Noster and look at my announcement for today's show, you will see that I, you know, put up a, the, link to the HiveTalk room. I'm gonna talk about HiveTalk, but essentially, you it's for right now, if you go and look on Noster and go find, go find my thing, my announcement for to today's show, you'll find the link to the room. That's all I'm gonna say about it right now because it's the whole part of what it is I wanna wanna talk about, today.
The BitX, is in the news. Brolups is in the news. We're gonna talk about some, e cash situations going on. Dirjji has, tested something out that looks really interesting. And then e cash transmitted by Sound waves. Yeah. You heard that right. E cash is transmitted by sound waves. We're gonna be doing that as well. Let me see here. Let's get back to the front of my new stack. Now here it comes. $9,000,000,000 in Bitcoin. Mt. Gox is going to start repayments in July. This is one of the issues that's going on that's causing the price to be suppressed if you're worried about that kind of thing. But let's go through what's going on so that you're aware of what the hell's going on. Defunct Bitcoin exchange, Mt. Gox said that it would begin distributing the assets that were stolen from clients in a 2014 hack starting in July after years of postponed deadlines.
The rehabilitation trustee has been preparing to make repayments in Bitcoin and Bitcoin Cash under the rehabilitation plan. Trustee Nobuaki Kobayashi said in a statement posted on the Mt. Gox website today, quote, the repayments will be made from the beginning of July 2024, Kobayashi added, noting due diligence and safety steps are still required. Mt. Gox was once the world's largest Bitcoin exchange, handling over 70% of all Bitcoin transactions in the early days. In 2014, hackers stole around 740,000 Bitcoin, which is now worth $15,000,000,000 today in one of the many attacks on the exchange that happened between the years 20102013.
After declaring bankruptcy in 2014, Mt. Gox has faced numerous delays in repaying victims. And last year, the Tokyo court set an October 20 24 deadline for the Exchange's civil rehabilitation plan. In May, Mt. Gox moved over 140,000 BTC worth around $9,000,000,000 from cold wallets for the first time in 5 years. The transactions were likely in preparations for the repayments. The upcoming payouts will be made in Bitcoin and Bitcoin Cash through exchanges that Mt. Gox has partnered with. The order will depend on the progress of required due diligence with each platform.
Victims have waited over 10 years to recover funds lost when Mt. Gox collapsed. For many, this July start date offers or finally offers hope, that they will recoup stolen savings. The reimbursements are expected to distribute 142,000 bitcoin, 143,000 bitcoin cash and 69,000,000,000 Japanese yen owed to around 127 1,000 creditors. While long anticipated, some worry that the large payouts could momentarily weigh on Bitcoin's price if victims sell part or all of their returned funds. Nonetheless, affected users are eager to move on after Mt. Gox's hack and failure became symbolic of Bitcoin's early days. The repayment represents an ending chapter in Bitcoin's history. Well, that's true.
The question really is, that's the end of the story, the question really is this right how many of the 127,000 people who have waited 10 years are going to immediately sell. My honest opinion is probably gonna be a lot more than we want. It's gonna be more than we think, and we're just gonna have to be prepared to take take it on the chin yet once again. I I wish I had better news. I just don't. And I just I can't lie to your ass, so there it is. But they there's going to be plenty of these guys that are just going to instantly sell.
They've been waiting and waiting and waiting and waiting and waiting and Right now, we're at $60,037 on the price of Bitcoin. That is down from almost 72,000 dollars,000 just a few days ago. Right? So, a $12,000 dip. I mean, I'm not I'm not saying everybody run to the hills, but what I am saying is that we go through these these these cycles of pain. And we're we're constantly having to deal with stuff that we forgot about happening in the past and and for the new guys that are in that come into bitcoin they don't know how they don't know most of the history. They don't know the gotchas that are sitting there waiting in the wings just to come out at the at just at the right time.
Because we've got another thing that's weighing on the price as well, and it's Germany. Alright? So and this is already this, by the way, what I'm about to say already happened. This is sort of what started the situation. Alright? So this actually happened last Friday. Bitcoin dips 3.5% as the German government sells 325,000,000 Bitcoin over 2 days. Bitcoin slumped on Friday morning with its price dropping to around 64,700 as volatility fears came home to roost. In the last hour, bitcoin has lost nearly 1.2% of its value extending a troubling trend as it has seen a dip of nearly 9% over the past 2 weeks. Many believe the slump was triggered by German authorities dumping seized bitcoin assets.
Europe's biggest economy recently began selling off portions of a hefty stockpile of bitcoin valued at around $3,000,000,000 that was confiscated from movie2k.to, a movie privacy website. And that was back in 2020. I'm pausing to tell you this is one of the gotchas I didn't even hear about. I don't remember anything about movie 2 k dot t0 being abscond or having their Bitcoin absconded with by the German government. And yet, here we are today watching a sizable amount of Bitcoin being sold in the open, which is clearly depressing the price. Now, to continue on, the German police seized 50,000 BTC from the piracy website in January, which it described in a press release as the most extensive security of bitcoins by law enforcement authorities in the Federal Republic Republic of Germany to date. It's a bad translation, but we'll deal with it. The country has sold off more than $325,000,000 worth of Bitcoin in the past 48 hours with the huge possibility of a further sale. Blockchain analytics firm Arkham said yesterday on Twitter Having seen a slippage of the price of BTC, the German government is releasing significant tranches of BTC and has taken a view that the price of BTC is to soften for a while to come.
It's worth remembering that the BTC being sold was seized due to illicit activity. So what's more interesting is what German government is planning to do with the capital once it's sold. In March, Bitcoin spiked to an all time high of 73,797 before pulling back, but then it slumped to 56,527 in May before recovering. Bitcoin's recent decline is not solely due to the German sell off. The bearish turn came at a time when major indices such as the s and P 500 also slumped amid wider negative sentiments in the financial markets. Earlier attempts to push Bitcoin's price towards 66,000 were thwarted by sellers. Thwarted, I say. Freaking thwarted, leading to significant liquidations of long positions.
The last 24 hours alone saw about $150,000,000 worth of total liquidation, 73% of which were long positions. So those longs got hammered even further. Right now, I think we're actually looking at, I wanna say $300,000,000 in total liquidations. Cloud Fodder, thank you for liquidating 420 of your satoshis to give to me. Very much appreciated. Very, very much appreciated. Kidwarp. Kid Warp. Yeah. Oh, oh, Kid Warp. Yes. That was a camera feed. Sorry, guys. For the for the, you know, guys listening to the regular podcast. I'm interacting now with the people over on zap.stream. Kidwarp, if you I'm I am trying out HiveTalk.
This is a new application that was delivered by BitCarrot. And honestly, it's kind of amazing. I'll be talking about it a little further on in the show. But, if you go back to the show, if you go to my nostril feed and look at the last thing that I posted, I posted the the URL to the hive talk feed. If you want to dive in there and try it out for yourself, then just click the link and it should dump you back into the room. If it doesn't and there's a problem and you tell me about it in the chat and I don't see it, please forgive me. I'm one guy. I got no producer. I'm I'm all by myself on my little deserted island over here. But getting back to this this issue of the $300,000,000 in longs that were liquidated over this past couple of days.
Please remember that we were like this one said, we got down. It's it's it's it's, you know, I don't know. We're at the in the better part of June. Right? And by that, I'm meaning a little bit over halfway through. But back about halfway through May, about May 15th, we were talking about $56,000 Bitcoin after a $73,000 peak or almost a 74. There was so I've I've seen, like, our trading view, some of the, the prices of Bitcoin that I follow from, I I can't remember what exchange I'm following, but it got up to, like, $73,993 on that particular exchange. So we were just under 74 and we tanked it all the way down to 53,000 and what was it?
50 no, 56,500. Right? So, we've been here before, and that was just last month. It was just last month. Now if we forgot about it, then then the last couple of days hurt. If you don't forget about it, then it's like then it's just like I'm annoyed. That, I mean, I'm not depressed. I'm not mad. I but I am annoyed because it's like, really? Now I got the 58 k gang freaking out again about how they're gonna see 58. Do you honestly guys, how how long do you want to hang out at 58 k? Please stop begging the 58 k gang gods for some kind of relief because honestly, we we we've gotta move. We we gotta get out of here.
We gotta get out of this place. I'm telling you. And speaking of getting out, it looks like riot may or may not have, relinquished their, try their, hostile takeover of Bitfarms. Maybe Turner Wright from Cointelegraph will tell us a little bit more about it. Riot seeks to have 3 Bitfarms board members and says that it now holds a 14 0.9% stake in the company. Riot Platforms, which has been attempting a takeover of Canadian mining farm or firm Bit Farm said that it plans to replace 3 members of the company's board of directors in a June 24th notice.
Riot said that it held roughly 14.9 percent of stake in Bitfarms after the mining firm announced its shareholder rights plan to prevent it from acquiring more than 15% of its stock. Rather than continue purchasing Bitfarms shares, Riot planned to replace 3 of incumbent Bitfarms board of directors on a potential combination is just not possible. Riot has informed the Bitfarms board that it has formally withdrawn its previous proposal to acquire all Bitfarms common shares at a price of $2.30 per share and stands ready to engage and negotiate with a reconstituted Bitfarms board to pursue a mutually beneficial combination of Bitfarms and Riot. I love how they're using the term combination and not takeover.
The mining firm intended to replace the board members with 3 people that were completely independent of Riot and Bitfarms, John Delaney, Amy Friedman, and Ralph Goering. Bitfarms stock price on the Nasdaq has increased more than 30 6% in the last 30 days amid the takeover plans but dropped 6% in the previous 24 hours. Cointelegraph reached out but hasn't received any response. The mining firm claimed that Bitfarms board has been unwilling to engage constructively regarding the takeover and said the company had botched its CEO succession process, former Bitfarms CEO Jeffrey Morphy stepped down in May after filing a lawsuit against the firm, Nicholas Bonta, has been acting as the interim president and CEO but could be removed as one of the 3 board members if Riot's appeal to shareholders is successful.
The planned overhaul the Bitfarms board was the latest development in Riot's plans to move in on Bitfarms. In May, Riot offered to acquire the mining firm for $950,000,000 and began increasing its stake until Bitfarms implemented its quote poison pill strategy, capping any holdings at 15%. Okay. So that's that's the what's going on today. Now, so, Riot has said that they've removed their tender offer to take over the entire company because they're going another route. And just because they've removed some people have been reporting that it's it's over. They're not, you know, and Riot's not gonna take over Bitfarms. Nothing could be further from the truth. Riot is going to own Bitfarms.
The because they're doing the same shit legacy finance has done for decades decades. They're doing a hostile takeover. This time this time, they're putting they're planting members into the board of directors that they say are impartial to either company. Do we really know? Is there any way to really prove that? Is there any way to prove that? No, there isn't. There is there is no way to prove that one way or the other. Do so I make an assumption, and it is an assumption only, that the 3 if 2 of the 3 board of directors at minimum probably lean towards riot.
And what they're going to do is they're basically going to put enough people on that board of directors that they will swing the vote to cancel the the poison pill and then allow the takeover to actually occur. But right now, what riot is saying is true. They it is an untenable situation for them to engage in this particular board of directors, so they are going to replace enough members of the board so that it is tenable. And honestly, that's just to me, that's skullduggery. It it is. It's just it's it's I'm I'm really sad to see Riot engage in this kind of behavior.
I'm sure that they think that what they're doing is just fine. But I when I look at these companies, I see something that somebody built. Somebody took their time and their their their courage to build something. And because that they made the mistake of going public so that they could get more money, they open themselves up to things like like hostile takeovers by people like riot. That's what I see. So the word of advice, it's bootstraps all the way down from this point. VC money. IPO money. All of this is just going to hamstring your ass. And just like things that happened in Bitcoin way in the past that we forgot about that are now coming back to bite us in the ass that IPO offering that you did is probably gonna come back to bite you in the ass just the way Bitfarms is finding out right now. Let's let's move on.
This whole thing with Michael Dell is embarrassing. It really is. I'm gonna read you just a couple of, sentences from this one out of CoinDesk written by Steven Alfer entitled Billionaire Tech CEO Michael Dell signals signals, mind you, signals Bitcoin interest via Michael Sailor retweet. Everything you need to know about about what you what I'm about to get into, you heard. Everything about that every word in that sentence is wrong. And I'm gonna tell you why. Michael Dell, CEO of a $100,000,000,000 plus market cap Dell Technologies, showed at least some vague interest in Bitcoin recirculating a BTC friendly post on x. From Bitcoin evangelist Michael Saylor.
It started on Thursday when Dell posted scarcity creates value. That prompted a reply from Michael Saylor, the executive chairman of MicroStrategy saying bitcoin is digital scarcity. Which, oh my God, Michael Dell then reposted. Oh, the humanity. The exchange didn't end there. With Dell later posting an image of Sesame Street's Cookie Monster that had been digitally altered, apparently by Saylor, to show the famous children's character gobbling bitcoin instead of cookies. Of course. At first, the CEO and now executive chairman of MicroStrategy, Sailor has not only led that company to the acquisition of a shitload of Bitcoin worth $15,000,000,000 over the past 4 years, but he's also evangelized for other corporations to follow suit with their own balance sheets, but only a small number of companies have done so. Alright. So, let's get back to the meat and potatoes of this. This is not a let's be clear. Nothing but pure speculation that Dell that Michael Dell has any interest in Bitcoin at all. But second, the fucking sycophantic bullshit that I'm seeing over on Twitter. And this is what I like about Nostra. I'm not seeing a whole lot of Michael Dell or Michael Dell versus Michael Sailor or Michael Dell is going to buy Bitcoin. I don't see any of that crap on Nostra. But, man, when I go over to Twitter, it was all over my bitcoin feed. It was just I mean, honestly, it was just sad and kinda cringe.
And I I cannot I cannot ask you many more times than I already have to please get over on Noster. If you were tired of listening to these people just circle jerk each other every time somebody like a billionaire sneezes and you don't want to hear it anymore, then you're gonna need to go to a place where it just doesn't really exist. Hence, noster. And speaking of noster, let's talk just a little bit about Hive. Alright. So Hive talk. How to do this? Okay. Bitcarrot. This is the guy and by the way, high quality nostrilch Over on nostril, bitcarrot, bit. Is it hold on for a second. I wanna make I wanna make damn sure that I've I've got, I'm actually gonna, show this. Hold on. Let's let's just get it on up. Let's get it on up over here, so that the guys in zap.stream can see it.
And we got a Bitkert. Well, there we go. This is the dude. Alright. For all of you guys that are over there watching on zap, zap dot stream, this is bitcarrot, bitkarrot. That's bitkarrot with a k, not a c. He's done something called Hive, and I'm gonna throw Hive up right here so that you can see it. He announced it's, I think, over the weekend. I think he's been hinting at something for the, you know, maybe like the last week. But I first saw him directly, talk about hive talk as an as his creation that is now out in the wild, and it works.
First of all, I'm gonna go over here. This is I have logged in directly with my Nostr NPUB and Insec that is carried by the Git Albi extension that I use in my browser. So what is HiveTalk? A) you can use your Noster credentials. B) it's a free, browser based real time video calls website. Think Zoom. Right? So, right now, you can see that the active room is there's one active room and it's it's this room. If you're if like I told Kidwarp, if you went over to Noster, looked in my profile, grabbed my last note, this particular, what am I trying to say? URL, I noted out earlier today. So, if you wanna go see what's going on, you can.
But what's nice about this is that it's really polished out of the box. And that's important. Now, does it have I mean, is it still alpha? Essentially, yeah, kinda. But this is one of the most polished alpha situations that I've ever seen. In fact, let's go over here. I'm gonna throw this dude up in the chat. I've got the ability, like, on the left hand side of what I'm seeing right now, I've got the ability to share a room. I can toggle and hide myself, so we'll do that. So the only people that I can see it looks like Duck is over here. Yeah. Duck's over there.
So I can hide myself from the room or I can show myself. And right now this is one of the few times that I actually ever put on, like, the video. I've got my webcam up, which is didn't realize that my webcam was that shitty. Wow. That is awful. That is freaking awful. And CloudFodder just dumped in. So, there we go. Has raised the hand. Oh, no. I am I I will practice on on rate, getting people up on the on the state stage. But you gotta remember that right now, I'm actually recording using a different d a w that does not really take in the sound of anybody else. So the amount of editing that I would have to do if I started bringing people up on stage while I'm actually trying to cut, what I'm doing is a little it it just becomes so don't I'm not gonna call anybody up on stage.
That will come I'll do that later but just bear with me bear with me right now okay let me let me do my thing I can stop my, like, mute my mic. I can mute the, or I can start a screen share if I wanted to. I'm not gonna do that. I'm gonna cancel that. Access denied, bitches. And oh, and I can record. Now, this is what's what I've this is one of the only reasons why I use Zoom is that I can get in. I can record somebody. There's a public chat that's getting in there. I can get in there and I can, pull the recorded file out and then I can pull yank the audio out of it and I can use that zoom stuff for, to plug in the audio, of an interview into my daw. Right? I can just throw the the wav files right in there. And that makes it really really I mean, it's nice, but I gotta pay like $24 a month.
I would much rather pay Bitcarrot zappable zaps on a per use basis, very much like zap.stream, to be able to use this service. And that's exactly what I will be doing. I'm gonna this looks like it's gonna work. In fact, I'm gonna record just a little bit just because I'm just gonna record. I don't know, I'll I'll record the the camera. Actually, no, hold on. I'm gonna stop recording, and I'm gonna cancel that. Hold on, I wanna do something else. I'm gonna record and I'm gonna do the screen window. I'm gonna do this one. Alright.
So I'm recording the screen that I've got. I've got Duck up here, sir Sleepy is in here. Hey, how you doing sir Sleepy? And who else is in here? I can't see I can't I can't see his name because this oh, wait. Let me hide that. Cloudfather. Cloud fighters in here, up on the screen. And I'm so I'm gonna record this and see what happens with the audio. I I don't know, man. We'll we'll find out. But I can also raise my hand if I'm in another group chat. So there's 4 people in this room altogether. I have emoji reactions. There's chat room.
There's shit. There's transcription ability. There's a whiteboard. Let's put the whiteboard up and see what happens here. I can draw. Yay. Let's see. Oh, wow. That is the little it's a little funky. Oh, no. Everybody else is drawing on the board too. Somebody draw a dick butt while while we're there. And then, so I've got some settings that I can do. There's some stuff about room, video, audio, moderator, recording, media, profile, aspect, style. I can change the background colors and stuff. Honestly, dudes, this hive talk is one of the most polished things that I've ever come across that's come out of people that are building stuff specifically.
This is really more about Nostra than anything else. Cause you didn't I didn't hear about this over on on on Twitter, but I'm not there all that often. But hivetalk.org. Hive.org. You gotta go check it out. If you don't go check it out, you're really gonna miss out. Now, I'm gonna stop recording that one and I'm gonna throw it into, yeah, my fire shot. I'm gonna say okay, and then I'm going to dump out of that and get out of that and go back to your to the recording, where I will now say, let's run the numbers. CNBC Futures and Commodities, they got oil. West Texas Intermediate is up over a full point to $81.61.
Brent Norsey, likewise, up almost a point $86.3. Natural gas is up 2 full points, $2.75 per 1,000 cubic feet. Gasoline taking a nosedive today, 5th of a point down to $2.50. Good luck finding that actual price, you know, anywhere. Metals are mixed fully. Gold is up a half point, silver is down a third, platinum is up a quarter, copper is down a quarter, But, palladium shooting it to the moon 6.21 percent to the upside. Ag, well, it's mostly in the green today by some pretty impressive numbers. But let's start with the biggest loser being chocolate, 11.5% of the downside. Biggest winner today is cotton. 4.6% to the upside, followed by coffee's 5.3 and sugars 2.37.
Live cattle are likewise up 3 quarters of a point, but light lean hogs are down damn near 2 points. Feeder cattle are up 0.14%. The Dow is up 0.68% at this time, but the S and P and the Nasdaq are both down. Nasdaq kinda sucking swamp water because Nvidia is going down. And since Nvidia is propping up the whole market right now, well, you can imagine that the Nasdaq would see some falling. And it's fallen by 0.8%. The S and P is down no. Actually, S and P is up 0.88%. Let's get over here to Clark Moody's dashboard where we're looking at a $60,000 no. $60,180 price.
That is a $1,190,000,000,000 market cap. And now we may only buy 26 ounces of shiny metal rocks with our 1 Bitcoin, of which there are 19,716,439.87 of. And average fees per block are really low. They've fees have been really manageable as of late. 0.13 BTC on average in fee is on a per block basis. And how many blocks are there you ask? If you did ask, there's a 183 blocks carrying 198,000 unconfirmed transactions for, wow, high priority rates of 9 satoshis per vbyte. I smell consolidation is what I smell. Low priorities are same. 9 satoshis per v vbyte.
Anything under 1.37 satoshis per v byte are being purged from mempools around the world. And hash rate, what are we looking at with hash rate? Wow. 615.6 exahashes per second. Actually, that's not bad. That's not bad considering all the the havoc that's being caused by the miners with these low low prices. Now from scaring dead people, which was episode 910 of bitcoin and wartime boosted me 3333, satoshi says. Cheers. Joey DD boosted 3333 said nothing. Axelrod with a 1000 said the coverage on the, Bank of Japan Bond Bomb is epic. Thank you, sir. No, sir. Thank you. God's death with a 1000 satoshis. Thank you, sir. No, thank you. The bird boosted me a 100 sat says, great show as always. I appreciate that.
Pies with a 100 sat says, thank you, sir. No. Thank you. And that's gonna do it for the weather report. Welcome to part 2 of the news that you can use the BitX Supra. Has well, it's not really released, they're working on it. But it's the 4th major revision. And this time, it was something called the BM 1368 ASIC that is being salvaged or harvested or cannibalized, or however you wanna call it, from the Antminer S 21. So if you're wondering the BitX is a fully open source hardware Bitcoin ASIC miner. Supra is the 4th major revision of the Bitaxe and it now includes the BM 1368 ASIC from the Antminer S21.
Quote, the newest member from the Bitaxe lineup, the Bitaxe Supra is working. Single BM1368 ASIC from the ampminer s21 is running around 620 gigahashes per second. Open source everything. Another huge effort from the open source miners United crew on figuring this one out announced Scott 9000 back in February Quote, the BitX Supra 401 designed as ready for release. Look for the branch if you want to dig in. Now the git repo is total mess, so I'm in the process of reorganizing it. Stay tuned, Scott said on March 24th. So here's the the here's some of the stuff on the BM1368 68 ASIC mining chip from the Antminer 21 or s 21.
It's an undocumented Shaw 256 minuteing ASIC from Bitmain. And it's used in the Ampminer S21. Now, Bitmain claims that the BM 1368 has a 17.5 joules per terahash efficiency, which is pretty good. The b m 1368 is brand new and isn't available anywhere yet. The b m 1368 has a different footprint and pin configuration from the BM 1368, the 1369, and the BM 1387 that you found in previous BitAxe's. And he goes on to talk about how to, you know, get the plans to build this thing if you wanna build it yourself. And BitAxe is is an example of the sort of like the commodification of bitcoin mining which I love to see now there seems to be 3 or 4 different different people that are making these quote unquote solo miners or mini miners I can't remember there was the the bit main was it bit main not bit main ah who was it I can't remember who it was. It was called the it's called the mini miner that may be that may be Jack Dorsey's outfit that's doing the mini miner. But they've got one and then there's a couple of other ones.
So this is I believe this is kind of represents the first step in the commodification of Bitcoin mining which we really need to see. Because that whole thing with right and bit farms, that worries me. It's okay to be worried about shit, guys. It doesn't mean that you're, you know, doesn't mean I'm get, you know, I'm freaking out. But it's these these are the things that I'm concerned about. This centralization of mining is not good for Bitcoin. And it's going to be people like the mini miner, the bit axis of the world, all those guys. This first step into the commodification of ASIC mining on a personal basis is how we pull that back.
That's how we get this thing this whole thing back. And with the addition of stratumv2 so that you're mining little tiny miner that may make you only a few satoshis per day. It's not really gonna cost you all that much to to run. You're only running a single chip out of, like, multiple chips that they're cannibalizing off of these Antminers that BitX is using. I think the the ones that are available right now, they're pulling them out of an s 19. The ones this one that I just, told you about, that's gonna come online soon. That's gonna come out of the, out of the s 20 ones.
So, consider it. There I mean, I think the Bitcoin mini miner that I was telling you about last week is $200. Not bad. And you can just set it and forget it. It's running Stratum V2. It'll be able to jump around mining pools. It'll be able to select your, you know, it'll be able to not have to worry about selecting the templates that whatever mining pool you're on has to do that. It it it makes mining even more self sovereign. So between stratumv2 and these little mini miners that are commodifying Bitcoin mining, I think we've got a good trajectory. I I really do. I think we've got a really good trajectory. The this next one, however, I'm not so sure on.
Brol ups. I'm sure other people are pronouncing it b roll ups, but the way it's spelled, it looks like bro. Brolups. Bitcoin native rollup design. Quote, introducing brolups, a bitcoin native rollup design that works with a native bitcoin peg and requires no changes to the bitcoin protocol, announced Barak. Now, if you're wondering, Barack is the guy that broke the lightning network last year, And he broke that son of a bitch hard. Right? And, you know, like some kind of, like, 999 or 998 out of 999 multisig that just did just wreaked havoc all over the lightning network. Well, he's added again, quote, b roll up or brol up is a Bitcoin native roll up design that works with native peg. The peg is enforceable on chain and can be unilaterally redeemed at any time.
Brolups are in a category of their own, neither optimistic ZKP nor sovereign, said the developer. ABrollup or brolup is operated by an operator or a quorum of operators. Operators provide liquidity to the protocol and advance the rollup state by changing Bitcoin transactions at regular intervals. B rollups use the Bitcoin blockchain as a data availability layer and run transactions on a custom VM virtual machine known as the Bitcoin virtual machine. I've told you about this before. B rollups build upon the concept of virtual UTXO's, heretofore known as VTXO's, and utilize them as the peg.
However, are not actually moved to a separate piece of chain, so called the rollup. Rollups simply enable virtual UTXOs to be used in smart contracts as payable constructs. Rollups are, in short, coin swaps between and something called call datas, Like how Arc Network swaps VTXOs for new VTXOs, Brolup swaps VTXOs for call data plus new vtxos, Barak said. Are currently in the design phase and the project is not associated with any issued tokens. Interest in learning more and contributing? Well, you should definitely join the Telegram community channel, which they have a link to. Alternatively, you can reach out to me on Twitter or Noster, said the developer.
Alright. Sir Sleepy over on, zap.stream says he's watching on Hightalk l f g o. That's right, bitches. Alright. Now this one from dirggi, and followed up by by a reply to it that this particular note by Max Hillebrand really brings it home. I'm gonna read you their g g first. Okay, so here's his note over on nostr. Today, I sent e cash to a WiFi gateway to go online. Here's 21 100 SATs. Give me Internet, please. And it worked. And it will be open source. And it will run on all open WRT routers. Okay. Let's I'm gonna try to pull this apart so that we understand it at least as far as I think of what's going on but first max Hillebrand replies to that and says this is actually a super hard problem to solve.
The customer is offline, and that's why he needs to pay for WiFi. But which payment methods work while the sender is offline? E cash is so beautiful with off line payments. And that's the rub. So you got Durgegee who wants to get online at a at a wifi access point. Let's let's let's pretend he's using his phone or or a laptop. And he's at, I don't know, some Starbucks or something like that. And he needs to get online and he wants to pay for it. He wants to be like maybe it's not, you know, maybe some some day soon people stop offering free WiFi access. Who knows? But just pretend that you got to pay to play, alright? So you need to get online with WiFi but you don't have access to Wi Fi, how are you going to make an electronic payment?
ECash seems to be solving this issue. So dirgi g sends an e cash payment offline. Now I don't know exactly how because that's a little bit farther above my pay grade when it comes to this cashew, amphetamine, and e cash stuff, but it's clearly happened. He's got photographic evidence and then we got Max Hillebrand saying, hey, this this this actually works because e cash is able to handle payments offline that means that you would be able to gain access to something like well what am I trying to say? You'd be able to gain access to something like Wi Fi or some kind of Internet gateway offline and then able to get online because the other end of that gateway said, yeah, he's he's paid.
This is brilliant. And I love everything about this. So watch watch for more offline e cash solutions and start thinking about what can you do with that? I mean, to be to be able to be able to pay something offline to gain something online like Wi Fi access or, you know, some kind of gateway or something like that. What else can we do with that can we do like magazine subscriptions could we what what what can you think of That you have to pay for, generally speaking, being online, that unless if you're not online, you're not able to send a payment.
What what does e cash solve for you? Or what in your mind do you think can be done that way post all that shit on Noster and like you know tag people like Max Hillebrand tag people like Dirgeechee tag people like me Ask the question. Would you know I see this as an offline problem. Will e cash solve it? And if I don't know, which I probably won't, then I'll tag her g g for you, so you don't have to worry about it. Okay. So, the last thing that I want to talk about today is this one. And this one's kind of freaking me out. Cali, the guy from Cashew, you know, Cashew, which we're talking about eCash anyway, so we might as well talk about Cali. And Cashew and eCash, he posted a note on Noster the other day that says, well, it's it's a note that it doesn't actually say anything. It's got a link which we'll get to here in a second. But he's got a screen capture of him typing something into what looks like a digital audio workstation.
And it says: if you were reading this, then things are working. There are 21 Satoshis here as a e cache using the Casu protocol being transferred over sound. The Cashew token is a long strike. And then and then the the gift, that he posted flips over. What what what the hell is Cali saying? He's he's he's built a way to transfer e cash over sound. Oh, over sound. Did you hear what I said? If you don't understand what it is that I'm talking about, I want you to listen to this. Hold on. I gotta get my headphones on to make sure that this is actually going to come through. Now that that is 6 minutes long.
Okay. So I'm not gonna I'm not I'm not going to play you the whole thing because that's just a that's a waste of time. But let's let's go through this. This is the website. Well, it's it's it's hard to say. It's like crrdlx dot0n.fleek.co. I'm sure he's going to have a different URL like later on, but this is his Cali's description of eCash by sound. A proof of concept to transfer Bitcoin SATs as eCash via sound using the Casu protocol. ECash can be sent digitally as text data, visually via a QR code reader, physically as a piece of paper with text or a QR code printed on it. How about audibly?
Can e cache be sent via sound? This will use PSK 31 as the text via sound protocol. Psk31 is similar to Morse code, except that psk31 allows for upper and lower case characters, which is necessary for a Cashew token. To try to receive these 21 sats as e cash, you need the following: a Cashew wallet, and there are many, I used cashew. Me because it is browser based. Software to decode p s k thirty one. I used fldigi, or f l d I g I. The only one I found for Linux, and there are others for Windows. Search, find, install, and then 3 the audio above.
Receiving data using fldig looks like the gif below, and that's the gif that I was describing earlier. Just to explain what's going on here. A sound file is playing. You cannot hear it in the GIF, of course, but there was sound playing audibly when the video was captured. My wife confirmed that it is an annoying sound. On FL Digi I set up op_mode to psk 31. The microphone on my computer is picking up the sound. F l d I g I shows the audio in the waterfall, the blue stream underneath 2,000, and he's describing the gif. The red bars are the tuner to pick up the blue stream. I manually slid it over to the stream. F l d I g I then simply decodes the sound into text.
This is how you will hear and see the Cashew token. I tested the process successfully. I copied the token from fldigi and used cashew.me to receive e cash and pasted it into the cash in the Cashew token. The token came back as valid. I did every step except receive the e cache. See image below. In other words, this should work. Note that if the token has already been claimed by someone, you will get an error as such below, and it just basically says the tokens already been claimed. This will be the world's first e cash sent via sound and he's asking a question. I don't know.
Still, it has a nice ring to it. Get it? And maybe you can be a small part of eCash Bitcoin history. I I don't know how to tell you how important this is. ECash being able to be transmitted by sound, think of this. Think of okay, first of all, a cas token having to be transmitted via 6 minutes of sound kinda sucks. But let's say that it wasn't. Let's let's just pretend for a second that an e cash token could be transmitted over airwaves. Right? Just I mean pressure waves, not radio waves, not ham radio, not microwave, actual physical wavelengths propagating, you know, through the air as sound that human being beings ears could pick up.
Alright. But it only takes 10 seconds. Or let's say let's say 5 seconds or even you know, be really nice? If you could pack all that information into a sound that lasted for exactly 2 seconds and then you're at a protest and then you got a bullhorn and then, you know, there's a whole bunch of protesters out there that are, you know, somehow or another maybe they need cash. Think of the trucker protest. Maybe the truckers when they're not honking their horns could use some e cash tokens, but they they can't get them because, you know, they they messed up and and telegraphed what their Bitcoin addresses were. And miners don't wanna mind that because Trudeau's government got to him and said, hey. Don't mind these transactions from these wallets. What are you gonna do? Well, if I got a bullhorn and I got, like, you know, 40 truckers out there and I start blasting 2 and a half second sound burst and each one of them is like a 500,000 satoshi, you know, e cash, then all of a sudden you get my drift.
Now, there's obvious problems with what I just said. There's no way to know that the same guy isn't the fastest dude in being able to to, you know, download and and have this whole thing transcribed and then get it to an e and he gets multiple e cash tokens. I I can't solve every fucking problem at this point. But what I am saying is think of the possibilities. And clearly, if it can be transmitted by sound, then it can be transmitted by FM, AM, microwave, ham, you name it, shortwave, longwave, don't fucking care. And now, I can start bouncing e cash tokens off the moon onto the other side of the planet.
And I don't even have to use the Internet. And as we all know, as we just saw, as we just saw, I can use that e cash token offline to open up a portal to the Internet. I cannot tell you what it feels like in my brain right now. Because everything that you thought you knew and certainly everything that I thought that I knew about where we where we are going has now I'm now often I have to go in a different direction. I thought I knew a thing, I don't know that thing. And if I am so it's not that I'm wrong. It's that I there was no this was not on my fucking bingo card.
This is not on my bingo card. Sound being used to transmit money that was not on my bingo card. Okay, so there's a couple of other things down here at the bottom that I want to get to. He's got a follow-up. And I'm gonna read you the part that I think is the most fascinating. The e cache over sound challenge message was originally put out in 3 places. 1, it was immutably timestamped on the Hive blockchain. 2, it was, you know, to Stacker news and 3, it was posted up on Nostr. Some great discussion has spawned on the Stacker news page above and on this Nostra thread. Things like possible payments via sound and data transfer beyond human hearing were discussed. Think of a dog whistle where you can't even hear it. That way, if you're transmitting an e cash token at a protest and the cops can hear it and they go, that's an e cash token. We got to take them down and they just beat your club your ass half to death and you don't get that shit out. Well, what if you were able to transmit that sound, nobody could hear it.
See what I'm saying? There's I I I all the doors and all the windows and all the walls are being not only opened, but could be completely blown out. There's there can be no gatekeepers. If I can transmit money in an ultrasonic frequency in public, in the open, and no authority would even know that I was doing it. At least not until they, you know, put up some ultrasonic, you know, capable microphones and triangulate my position. But, honestly, good luck because we're gonna figure out something beyond this. And what could it possibly be? Well, I'd love to see an e cache transmitted by light project.
That's the last thing that's said in this follow-up. So now, think of a laser pointer. They think of a laser pointer or better yet. You can just think of like the, the way that ships communicate with each other at sea when they're having to run radio silent and they use that whole flip light thing. If you never if you don't know what I'm talking about, it's just a great big spotlight that's got some louvers in front of it and a lever, And you can basically move it back and forth so that it turns the light on, shuts the light down without actually turning off the electricity and turning it back on which screws up the bulb. So these flaps just basically kill the light. So you can transmit Morse code. But let's say that I've got like a laser pointer attached to the US or the well, whatever socket you've got on data transmission socket you've got on your phone.
And I can modulate that pulse. And then I can aim that pulse I can aim the laser using the camera on my phone to somebody who I know has a camera looking at me across the protest, and I'm transmitting him an e cash token. I don't I don't think authoritarianism has a hope in hell. I think I think here's what I really think. We've already won, but we refuse to realize it. I'm not worried about them. I'm worried about us not realizing that we already won. Some of us realize it, and and but we won't admit it to ourselves. We won't take the win. We refuse to take the win.
We won, man. Shit's done. It's over. And speaking of over, we're going to go ahead and close this show out. I thank you for being here. I hope that the hive talk experiment works. If it's if today has been very confusing for you. My apologies. I, I, I really don't mean it to be confusing, but I had 2 streams going on It, I had the zap dot stream going on at the same time that I was running hive talk. I'm going to have to correlate the data and see what the hell exactly happened. And when I do that, I will report back to you. But until then, I will see you on the other side. This has been Bitcoin and and I'm your host, David Bennett. I hope you enjoyed today's episode and hope to see you again real soon.
Have a great day.
Market Updates and Analysis
E-Cash Transmitted by Sound
Conclusion and Final Thoughts
