Join me today for Episode 914 of Bitcoin And . . . is LIVE!
Topics for today:
- Chevron Deference Died
- Bolivia Gets Smart
- Strike is Now Fee-Free DCA
- The Greatest Library Will be on Nostr
#Bitcoin #BitcoinAnd
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https://bitcoinmagazine.com/legal/supreme-court-decision-overturns-chevron-a-victory-for-judicial-authority-and-bitcoin
https://cointelegraph.com/news/jesse-powell-donates-1m-crypto-trump-2024
https://cointelegraph.com/news/bolivia-legalizes-bitcoin-crypto-transactions
https://www.coindesk.com/markets/2024/06/28/t-rex-group-files-for-2x-long-inverse-microstrategy-etf/
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Licensed under Creative Commons: By Attribution 3.0 License
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[00:00:00]
Unknown:
Good morning. This is David Bennett, and this is Bitcoin and, a podcast where I try to find the edge effect between the worlds of Bitcoin, gaming, permaculture, podcasting, and education to gain a better understanding of all. Edge effect is a concept from ecology describing a greater diversity of life where the edges of 2 systems overlap. While species from either system can be found at the edge, it is important to note there are species in the overlap that exist in neither system, and that is what I seek to uncover. Uncover. So join me in discovering the variety of things being created as Bitcoin rubs up against other systems. It is 9:20 AM Pacific Daylight Time. It is the 28th day of June 2024, and this is episode 914 of Bitcoin and jb55, Twitter account is dead. It's gone.
It had a good run. Well, you know, according to jb 55 himself, that's Will, Casarin or Casarin. I'm not exactly sure how to pronounce it. If you don't know who I'm talking about, it's the creator of the Nostr client, Domus, that we have all come to know and love on our iOS. And I don't know if it went over to, Google Phones or not. I'm not exactly sure if it's Android enabled, yet or or what. I don't use Android, so I guess I kinda wouldn't know. But he, put up a note on Noster. I don't know, like yesterday, I guess. It says it's 20 hours old. And all he says is it had a good run, and he shows a screenshot of his Twitter account at jb55.
And it says this account doesn't exist. So I can only assume that he did not did not, I repeat, did not get axed from Twitter by the, powers that be over at Twitter that he did it himself, that he deleted his own Twitter account. And we're seeing more and more and more of this. For those of you who are listening and you have just refused to even look at Noster and are sneering at it, you're not you're not gonna wanna sneer at it very much longer. The second half of the show, I'm gonna talk about the greatest library. And I'm not even going to talk about it just yet at all. I'm just going to say we're going to talk about the greatest library. The only thing that I will say about it is that the only way that we can have the greatest library is with Nostr and things like it. It doesn't mean that it's Nostr only. It does not mean that I would not be looking at something else like nostril something that is is more distributed than what we have with Twitter and Facebook and all the rest of the the walled gardens that we're really starting to not really appreciate anymore because there's nothing to really appreciate about them. But it is a fact that JB 55 has probably deleted his own Twitter account because most of the time it would say this account is suspended, or this account is, I don't know, permanently, permanently suspended.
Since it doesn't say that, instead it says it just doesn't exist, well, that tells me that, JB 55 has done it himself. Now, Dev, another piece of news not connected is Jack Mallers has announced DCA free or well well no fee DCA at strike So he says in this note on Nostrand, yo, we just launched no fee DCA. That's daily cost average at strike. No matter who you are, no matter where you are, your DCA order on strike is on the house. We don't run fiat ads. We put our money where it matters making every set count for every bitcoiner screw instagram ads screw them I say screw them well he didn't say that I'm saying no but why not no fee DCA I talk about it in the video but it's important to note that the no fee kicks in after the 1st week. For example, if you start an hourly or a daily DCA we will start waiving the fee on the 8th day if you start a weekly or monthly DCA we will start waiving the fee the second order this is only to prevent people from gaming the offer you can learn more here and then there's a link right We heard you all loud and clear.
With Strike, you can now DCA Bitcoin and withdraw it to cold storage with no fees. We work for you. We work for Bitcoiners. We work for Bitcoin. That's all for now. Keep the feedback coming and let us know what you want next. Much love. Okay. So, for those that don't know what DCA is, daily cost average is just a way to put small amounts of money or you could even I mean, depending on how much cash you've got large amounts of money. But, like, you know, you're buying like, some people are buying, like, $1 worth of of bitcoin every hour on the hour from strike. And after a week, there's no fees. It used to be like it used to be that you'd have to pay fees and some pretty hefty fees too, by the way, on strike, but no more no more no more. So if you wanna if you wanna start DCA ing, you might consider you might consider going over to Strike. And the only reason that I don't use Strike right now is that my bank, Wells Fargo, is not allowing me to connect to strike.
And if I do it too often, they very well may shit can my account. I've just gotten gotten used to it. And the reason that that's important is that I'm connected to other family members because we all have, we all have a you know, we run a family business, and all of our bank most of our banking is done at Wells Fargo. If they shit came my personal account, they could cause some real serious problems for the other people that are involved with me because my name and social security number and all that shit, my unfree identity is linked to all these other entities. So it's not something that I can just, you know, readily do.
That's why I don't do it. That that right now I'm using cash app to do my d c a stuff in it works but there's also fees involved I wish I could go to strike I it hey you know 6 1 half dozen or the other at least I'm DCA for bitcoin now let's get into the news. This is an important 1. We've been we've been we've been hearing about the Chevron deference case for a long time. Well, the Supreme Court has now overturned it. And you may not know what it is. You may have never heard about it before, but it's been affecting you since 1984. I guarantee it.
Bitcoin Magazine, Colin Crossman writes, supreme court decision overturns Chevron. A victory for judicial authority as well as bitcoin. In a landmark decision on June 28th, 2024, the Supreme Court of the United States by a 6 to 3 vote dudes overruled the long standing Chevron doctrine fundamentally reshaping the landscape of administrative law and judicial review. The case, which is named Lauperbright Enterprises versus Raimondo, signals a significant shift in the balance of power between the judiciary and administrative agencies. And that's where the important relationship is occurring here. We'll get into it. This decision not only reinforces judicial independence, but also presents substantial benefits for the Bitcoin industry echoing the implications of last year's West Virginia versus the EPA decision.
The case. The Chevron doctrine established in Chevron USA Inc versus Natural Resources Defense Counsel Inc. Required courts to defer to agency interpretations of ambiguous statutes as long as the interpretation was deemed reasonable. This 2 step framework has become a cornerstone of administrative law, often tipping the scales in favor of agency authority over judicial oversight. In LauperBryte, the petitions challenged a National Marine Fisheries Service rule that allowed, or rather required, Atlantic hearing herring the fish the herring fish fishermen to bear the cost of onboard observers arguing that the Magnusson Stevens Act did not authorize such a mandate.
The lower courts had upheld the NMFS, the, National Marine Fisheries Service rule, applying Chevron deference to conclude that the agency's interpretation was permissible, the Supreme Court's ruling. Chief Justice Roberts, writing for the majority, delivered a decisive opinion that dismantles Chevron deference. The Court held that the Administrative Procedure Act requires courts to exercise independent judgment when interpreting statutes rejecting the notion that ambiguity ambiguities in law should default to agency interpretations quote Chevron defines the command of the APA that the reviewing court, not the agency whose action it reviews, is to decide all relevant questions of law and interpret statutory provisions, Roberts wrote.
It requires a court to ignore, not follow the reading the court would have reached had it exercised its independent judgment. Chevron cannot be reconciled with the APA. The ruling emphasizes that statutory ambiguities do not automatically delegate interpretive authority to agencies. Instead, courts must use traditional tools of statutory construction to determine the best reading of a statute, ensuring that agencies do not exceed their conferred powers. So the impact on bitcoin and bitcoin mining these implications of this ruling extend far beyond administrative law reaching into the heart of the bitcoin mining industry, much like the supreme court's decision in West Virginia versus EPA, which curbed curbed I say curbed oh 0 wait hold on.
Okay. Sorry. I I I got I get distracted guys. I get distracted. Cannot be helped. Can't be helped. Alright. Let's do that again. The implications of this ruling extend far beyond administrative law, reaching into the heart of the Bitcoin mining industry. Much like the Supreme Court's decision in West Virginia versus the EPA, which curbed the Environmental Protection Agency's overreach, this ruling reinforces the need for clear congressional authorization before any agencies can impose significant regulatory burdens. For the mining industry, this decision is a clear win.
Regulatory uncertainty has long been a thorn in the side of Bitcoin miners who rely on predictable and stable access to power and other resources. By curbing the ability of agencies to unilaterally expand their regulatory reach, the court has created a more favorable environment for Bitcoin mining operations. Bitcoin miners have often been at the mercy of shifting regulatory landscapes which can dramatically impact their operations, for instance. Stringent environmental regulations targeting power consumption could have severely constrained the industry.
With the Chevron doctrine overturned any further regulatory attempts to impose such burdens will require explicit and unambiguous congressional authorization followed by detailed judiciary scrutiny. This decision also invigorates the major question doctrine which posits that significant regulatory actions with vast economic and political implications require a clear congressional authorization. This doctrine can be a powerful tool for Bitcoin miners and other industries to challenge regulatory overreach, ensuring that agencies cannot impose wide ranging policies without clear legislative backing. And furthermore, recent developments have seen the Biden administration intensify oversight on the US Bitcoin mining sector through an Energy Information Agency also known as the EIA, Emergency Survey, portraying electricity usage by miners as a significant threat to national grid stability. And this move demanded detailed disclosures from miners and mirrored actions in countries like Venezuela signaling a concern concerning trend towards building a full registry of mining activities.
The industry's response united against such overreach and resulted in a decisive victory against the federal government. The recent NRA and Cantero cases further illuminate the judicial shift toward protecting industry autonomy from regulatory overreach. In both cases, the courts have shown a willingness to scrutinize agency actions that appear to exceed their statutory authority. The NRA case dealing with banking regulations and the Cantero case focusing on state versus federal regulatory powers underscore the importance of clear legislative directives.
These cases have set a precedent that benefits the Bitcoin mining industry by highlighting the judiciary's role in curbing unwarranted regulatory expansion akin to the protections now reinforced by the Supreme Court's rejection of the Chevron deference. The Supreme Court's decision to overturn Chevron represents a monumental shift towards judicial independence in a recalibration of the administrative state. For the Bitcoin industry, this ruling is particularly significant promising a more predictable and less burdensome regulatory environment. As industries and legal practitioners grapple with the implications of this ruling, 1 thing is clear: the era of agency deference has been significantly curtailed, marking a new chapter in the interpretation and application of federal laws. This ruling underscores the importance of clear legislative mandates and may prompt Congress to take a more active role in defining the scope of agency powers moving forward.
For Bitcoin miners, this decision is a beacon of hope, heralding a future where regulatory overreach can be more effectively challenged, fostering a more stable and supportive environment for the growth and sustainability of the industry. As the judiciary reclaims its role as the ultimate arbiter of the law, the Bitcoin mining community and Americans as a whole can now look forward to a more balanced and just regulatory landscape. Ladies and gentlemen, that is a win. And it's not just a win for Bitcoin miners. So what happened? Okay. Here's my interpretation of this entire thing.
Back in 1984, the courts basically said, I don't wanna deal with this crap. So EPA, FDA, USDA, all you guys that are regulatory SEC, all you guys, you you make the call. You make the laws. They they deferred that's the deference they deferred the judicial power to these agencies and these agencies since 1984 have been running wild they've been squashing this is why it's hard to open a business in the United States this is why there's so much paperwork This is why red tape is choking the life out of everything that we see. But before I leave this topic, I want to say something that about something another industry right we talked they talked this bitcoin magazine piece talked more about how this affects the bitcoin miners how does it affect ranchers remember all of the things that we've been talking about how it's almost impossible to get meat processed how it's almost impossible to get anything done.
We've got a couple of senators I think senators, maybe just, representatives that are really trying to get this whole bovine ear tag identification thing
[00:17:17] Unknown:
stopped. That's all regulatory landscape. And now that's all gone.
[00:17:24] Unknown:
It's all gone. It just it just poof just like that it disappeared. So this is a massive wind. We have no idea what the landscape moving forward for small businesses, large businesses, the ranching industry, the Bitcoin mining industry. We don't know the implications yet. But mostly, I find that the implications are probably going to be good and positive. Let's move on to yet more politics stuff. And no, I'm not going to say a damn thing about the clown show that occurred last night, Thursday, at whatever time that that freaking clown show debate occurred. Not gonna talk about it. But I'm gonna talk about this. Kraken's Jesse Powell has donated $1, 000, 000 in crypto to the Trump campaign.
Josh O'Sullivan, writing for Cointelegraph, Jesse Powell, the cofounder of Kraken, has announced on Twitter that he has personally donated $1, 000, 000 mostly in ether to Donald Trump's 2024 presidential campaign. Powell emphasized his support for Trump as the only major party candidate currently advocating for pro crypto policies. Quote, I am excited to join other leaders from our community to unite behind the only pro crypto major party candidate in the 2024 presidential election so the United States can continue to remain a leader in blockchain technology. You know, I remember when Jesse Powell that's all I'm gonna read from this because that's all we really need to know. But I remember when Jesse Powell used to be a good solid Bitcoiner, and it did not take long for him to fall into the depths of shit coinery after they after, crack and really got off the ground. It's sad to see, but it is what it is.
However, what that signals what I what I wanted to say about it is this. This donation thing, this this flag flying, this signaling of what side of the of the aisle that you're on, I I think it's losing its steam. I really do. It's like, I I mean, nobody trusts anybody anymore to the point that if you do signal, because things are so divided and so hot right now, you're immediately going to be attacked by the other side. So my question is this if you're going to donate to 1 of these candidates why even signal that you did it? What what's to gain?
What do you gain by actually signaling? You can still let the the candidate and the candidate's, you know, presidential election committee know that you donated, and they're not gonna tell anybody if you don't want them to. It's not gonna do anything for them, why would you do it? I don't understand this any longer. This does this makes no more sense to me. Not in today's world. But we're gonna fly down south. We're gonna fly down to Bolivia. We're gonna check out what the hell's going on down there. Cointelegraph Prashant Jha has this headline.
Bolivia lifts the ban on Bitcoin and authorizes crypto transactions via banks. Bolivia Central Bank, the Banco Central de Bolivia, has indeed lifted its ban on Bitcoin and crypto payments, allowing a financial entities to conduct transactions with digital assets in a bid to modernize its payment system. The central bank said that the move was made to help Bolivia elevate its struggling economy and align it with Latin American crypto regulations. The change in regulatory stance marks the end of a ban on crypto use in the country that began back in 2014. Guys, that's before I even got into Bitcoin. That's how long the ban in Bolivia has been standing, and no more.
Gone. The government prohibited banking entities from interacting with cryptocurrencies on December or in December of 2020 under board resolution 1442020. The recently approved regulations allow banks to transact in cryptocurrencies via approved electronic channels. However, the central bank clarified that cryptocurrencies are not accepted as forms of legal tender. Yeah. Not yet. Thus, although crypto assets are tradable via banks, the Bolivian government does not recognize them as legal tender, and companies are not required to accept them as payment. Under its economic and financial education plan, Banco Central de Bolivia also plans to create an awareness program for the general public.
This plan attempts to inform the general public about the possible risks associated with cryptocurrencies and how to manage them responsibly. The new legislation was introduced in collaboration with the Financial Investigation Unit, the Financial Systems Supervisory Authority and the Central Bank, the 3 government bodies produced the regulatory update which became effective on June 26th. The new legislation also aligns Bolivia's crypto regulation and the suggestions made by Latin American Financial Action Task Force making it another Latin American nation to adopt crypto to help boost its economy. All right. So then we'll go into a little bit of Latin America becoming pro Bitcoin. But we already know that.
We we understand what's going on in El Salvador. We understand what might be occurring in places like Brazil and Argentina. And like I said, if you're not watching Central and South America, then you're missing at least 1 third of what's going on in Bitcoin. Africa would be the other third, and us idiots up in the west that just were going to be the last third to get into this. I mean, if you're smart and you're in the west, then you've already got your you've already got Bitcoin and you're already DCA ing and you're all you're doing all of that, so you're okay. But when I see Western governments continuously sell the bitcoin that they've absconded with even though it is stolen property I get that part. Okay. I get it. But there's nothing we can do about that. So we might as well say, well, okay, you've got it and now you're going to do something even more stupid with it. So you were stupid to steal it from somebody and now you're stupid because you're going to sell it on the open market. Watching Germany and the United States engage in this idiotic behavior is really, really sad.
But maybe because the Supreme Court overturned the Chevron deference, that we will be able to make arguments that the United States cannot sell that and that there has to be a clear congressional mandate that we do. And that mandate damn well better be crystal clear as to why. Because I don't think that now that we live in a landscape beyond the Chevron deference, that the SEC cannot all by itself call the shots. Maybe. Not not exactly sure, but that's what Chevron deference is saying to me is that these regulatory authorities basically just got they just got impaled.
And now now maybe the United States Marshals Service that owns the Bitcoin or at least custodies it, the SEC, the FDIC, and all these other people, that they won't be able to make these calls to sell a national treasure without an actual congressional oversight. Just I'm just saying. Not not that I trust those guys to do a damn thing themselves, or at least not to do anything that's actually smart, but, hey, it is it is what it is. So there's here's to hoping is what I'm saying. Now, coming back up into the West, the T Rex Group has filed for 2x Long Inverse MicroStrategy ETF god these some of these headlines are just horrible sentences that by the way this is CoinDesk it's written by Sam Reynolds T Rex Group, the exchange traded funds issuer, has filed for an ETF that will take a 2x long position in Bitcoin heavy MicroStrategy.
According to a filing published on the Securities and Exchange Commission's EDGAR platform, the T REX 2x Long MSTR Daily Target ETF aims to achieve 200% of MicroStrategy's daily performance. T Rex also filed for an ETF that would take a 2x inverted position in MSTR. Effectively both of these listed products would be a leveraged long or short on Bitcoin. Their hedging is what they're doing. MSTR, with its heavy exposure to bitcoin, is known for its volatility as it tracks the world's largest digital asset. The stock's current implied volatility is as high as 85.6, but it is trending lower than its recent average as Bitcoin's price becomes fairly stable in the short term.
Recently, its CEO, Michael Saylor, announced that the firm would offer $500, 000, 000 in convertible notes to boost its bitcoin holdings. Bloomberg ETF analyst Eric Balchunas wrote on Twitter that these ETFs would be a near lock to be the most volatile ETFs ever seen in the United States with 20 times the volatility of the SPX. Oh my god. That's just how do you sleep? Anyway, they will be the ghost pepper of ETF hot sauce, Eric Balchuna said. ETF issuers Defiance and Granite Shares have also listed products to take short positions in MicroStrategy.
T Rex also filed for 6 count them 6 leveraged inverse bitcoin ETFs in March, with positions ranging from 1.5x to 2x. So the short guys are out there. Alright? They're they're like sharks in the water. So beware. And right now, we're chilling out at $60, 739 on a on a price of Bitcoin. The shorters are out there. They're circling in the water. It is what it is. But what I want to say about these products is that they do other than price suppression, as we've as we've we've come to realize how markets in the West have been operating for decades. Now that we're actually paying attention, you know, a lot of us didn't care. We're just going about our our daily business and then boom, Bitcoin happens. Then the next thing you know, you figure out that economics is actually kind of fascinating and you end up learning more about it than you ever thought you would. Right? So there we are. Now, these products, other than putting price suppression and price depression pressures on the price of bitcoin, do nothing.
They don't do anything. There's no price discovery here. I don't care what anybody tells me. You could be a Nobel laureate and tell me how wrong I am that of course this is the market trying to discover price. No it's not. These are derivatives synthetic derivative products on tangential bullshit information ie the price of Bitcoin that's all it is it does nothing it creates nothing it it doesn't introduce new technology it doesn't introduce new products it doesn't introduce new anything It's just the old world and their last dying breath. Let's run the numbers.
CNBC Futures and Commodities West Texas Intermediate Oil is down over half a point to $81.23. Brent, North Sea is down scant, $86.36. Natural gas, however, is down way down 2 and a half percent to $2.61 per 1, 000 cubic feet, and gasoline is down over a half to $2.52 a gallon. All of the shiny metal rocks are doing well today. Gold is up a 10th of a point. Silver is up 0.75. Platinum is up 0.64. Copper is up 1 and a third. Palladium is up 5.12%. Wow. It's talking about reaching for the sky. Ag is mostly in the red today. Biggest loser is corn. 4 points to the downside. Biggest winner today is gonna be chocolate, which is 4 points to the upside.
Live cattle are down a quarter. Lean hogs, however, are up 2 points. Feeder cattle are down 0.12%. The Dow is running sideways. The S and P is down 0.15%. Nasdaq is down a quarter of a percent. And the S and P mini is the only thing in the green, up 1 point wait no point 18 percent. Sorry about that. And, yeah, price is $60, 136. That is a $1, 200, 000, 000, 000 market cap. You can get only 26 point 2 ounces of shiny metal rocks with your 1 Bitcoin of which there are 19, 718, 442.99 of, and average fees per block are still low. 0.15 BTC on average per block. Isn't that relatively interesting?
Okay. Let me get to the, hold on for a second. There are 191 blocks waiting to clear, carrying, 230, 000 unconfirmed transactions, 10 satoshis per vbyte for high priorities. 9 satoshis per vbyte for low priority. And anything under 4 and a third are being purged from mempools around the world. Hash rate is flashing, kinda higher a little bit today. 588.3 exahashes per second. Now from Nostrillex, which was the episode 913 of bitcoin and wow man your donations are just I love ghost shadrich because he came in with a rush boost, 2112. Pies came in with 420. Says thank you, sir. No. Thank you. And God's death with 237 says, thank you, sir. No. Thank you. But, wow, man, donations are down across the board. It's kind of it's it's, you know, crying I'm a crying clown, man.
As a as a oh, Adam Curry might say, I might have to go out and and and club some baby seals to make sure that I get some donations in here. And it's, you know, it's always hard to it's always hard to ask for donations when when you when you get to to thinking about it. But then you start hearing people like, you know, Jack Spierko talk. You hear people like Adam Curry talk, John c Dvorak talk. And they're like, no. Because if you don't tell anybody that act that you actually want your their donations, they're not going to hit the button. And the way that I take donations is through Boostagrams.
You can stream me satoshis, but you have to use well, you don't have to. I mean, I've got I've got a a Patreon account, Bitcoin and podcast, if you wanna go look for it on Patreon, and you can use Fiat. But if you don't wanna use Fiat, just use a podcasting 2.0 app or just boost me on Nostra or something like that. You can just send me zaps directly. But, you know, podcasting 2.0, definitely the way to go. If you're still using like an old podcast app, not really doing yourself any any favors. You're not getting album art. You're not getting good show notes. You're not getting chapters. You're not getting chapter art. You're not getting transcriptions. You're not getting a whole bunch of stuff.
And it's not I mean, I don't pay for Fountain. Fountain is my daily driver. That's the Fountain app is on iOS, my daily driving, podcast app. I get all my favorite podcasts from it. I don't pay them a monthly fee. If I'm boosting or I'm streaming, they get a portion of those satoshis. But it's like 1% or something like that. It's not it's they're not they're not making a big ask. So when I'm asking you for donations, and I am, then use the boostogram function on fountain or Streamys satoshis on fountain. It's just that easy.
And that's the weather report. Welcome to part 2 of the news that you can use Project Alexandria. Okay. When I was talking about the greatest library, this is what I'm talking about. Now let me give you a little bit of context here.
[00:34:44] Unknown:
This project, Project Alexandria,
[00:34:49] Unknown:
is all about Noster. It's also all about building a library, about building a library using the infrastructure that we already have with Nostr, I e, relays, the ability to use in insec and n pub key pairs for identity, using the webbing, the the the cross linking between all the relays that that it's it's a web. It's a network. Right? Now I had a very long discussion with Hogglebod, the creator of the coracle.social Noster client. If you're not using coracle.social, if you haven't at least looked at it, wow, dude. Go look at this thing. But me and him sat down, and we had a long, a very long interview. And part of that interview starting to get to the last part of it, and I'll put a link to that interview down in the show notes for the Bitcoin and podcast.
We talked a lot about my fascination with something called zettelkasten okay so with zettelkasten it is a way like when you're highlighting like think back to college or high school and you were highlighting notes in your book and then you would study those notes you know like if you were actually studying for tests and then after that you you know a year later you forgot that that was there you forgot that that note was there And the context was a little boring because we're talking about school. But as you get older and you start, like, reading books that you want to read that are not, you know, specifically not fiction books. Like if you're reading history books or, you know, something like me, I read a lot of books about soil. If you're an economist and you're reading, you know, if you're interested in the economy now because you got into Bitcoin, you're reading nonfiction.
You're you're you're trying to understand something. And if you're taking notes in that book and and then you never read that book again that note does you nothing right I use something called obsidian which is a note taking app okay it's not on my I do have it on my phone but I use it on my desktop mostly. And it's a way to capture these notes that you write. It's a way to link the notes that you write to other notes that you think might actually have something to do with the note that you wrote. And as time as time goes by, you end up with a larger and larger set of these notes from all these different books and you can start making some serious high quality connections and say, 0.
0. 0. I get it. So this looks a lot like that from a completely different viewpoint. Like, I'm making connections between things from economies to the way life in the soil works nutrients. I'm starting to I've been seeing these connections, these similarities in life ever since I've been starting to take these notes right and and now that I've got enough of a repository I can start going back and I can start saying well well now I can do content creation. So me and Hollabod sat down and my questions to Hollabod was how can we I link my Obsidian via the Noster network and via insect impub to another user like the guy Swan, who also uses things like Obsidian for his note taking.
And would there be a way that I could place some of my notes that I want to make public in my Obsidian into a relay and Obsidian actually has Nostr functionality. Somebody wrote a plug in for it so I can publish notes directly out of Nostr out of Obsidian to Noster. What what if what if me and Guy Swan and some of the other people in the Bitcoin Bitcoin industry where we had a shared repository of notes and that we could start looking at other people's notes and see if there's any connections between what we're writing and what they're writing. And they can look at my notes and say, well, that I've never thought about this soil thing, but now that's starting to make me think.
And then all of a sudden, they end up doing some of their content creation that I helped with even even though that they're not actually going down the same thought train that I'm that I'm riding on. You see what I'm saying? Like we we leverage each other's mind trust or brain trust to ignite other ideas within ourselves and that we go off in our different directions because something that oh I don't know that hottlebod said in his notes that I picked up in my Obsidian via Noster started making me think, oh, shit. I I know exactly what that fits with in my own repository. So now we come to something that is kind of like it. Not exactly but getting close and I think that they're going in this direction and that's this project Alexandria.
Now it's written by Lasserin, l a e s e r I n. She is on Noster as well. So let me read this. The new great library we have all heard tales of Amazon and other booksellers banning customers from their bookstores or censoring and editing purchased books. The famous Project Gutenberg and similar organizations are performing a good work to help protect many of our precious books from this fate. But it is merely a centralized website and therefore not censorship resistant. Also, it mostly posts books in English or German. So, we, at GitCitadel, have decided to move Project Gutenberg to Noster and house it in the most distributed way possible on relays Specifically, our new public Citadel Relay for out of print books and other documents, but also on any Relay anywhere.
And because we are a very humble group we're naming the effort Alexandria. And the first book to be printed on Noster is the Bible because obviously. Now, let's pause right there. What was the first book ever printed on the invention that is known as the printing press that was designed by or built by Gutenberg?
[00:41:32] Unknown:
First book was the bible.
[00:41:37] Unknown:
So it's fitting that this project is going to put the bible as the as the first publication. It makes sense. Also, if for those that don't know trying to or struggling with Alexandria, that name comes from the library at Alexandria in Egypt which burnt to the ground and we have no idea how much knowledge was actually lost from ancient times because that library was like the library of congress of its day. And this is an ancient we're talking ancient Egypt. Alright. We ain't we ain't talking, like, you know, a couple 100 years ago. We're talking about a 1000 years ago kinda thing. Right? So a long time ago. And it had stood for centuries as far as we know.
Right? But and we the other thing that we do know is that it burnt to the ground, and we know that it had a massive repository of ancient knowledge. We have no idea how far back the knowledge that was lost in the fire actually went. That's where the word Alexandria is coming from so let's continue why on relays well why not on relays? Relays are 1 of the few widely distributed databases for documentation in existence. The Relay database spans the entire globe and anyone can maintain their own Relay on their own personal computer or mobile phone. That means that anyone can house their own books.
Which books are their own? Any books they have in their own possession. Any books someone would have to physically pry out of their cold dead computer. Once we begin generating ebooks from notes master notes, with an associated header, which will be quite easy to do so long as they are written in markdown or similar, they will also be readable, downloadable, and storable in EPUB format. And it is, after all, only a matter of time until someone enterprising makes an e paper noster client for calmer reading of notes, and then you can download and read them without having to bother converting beforehand which maintains their noster navigation.
The new event is called kind 30040 and it allows us to take any sort of note containing any sort of characters and create a type of note collection, or a book of notes, journal of notes, magazine of notes, And it can be nested or embedded inside of other notes, creating any sort of note combination and note hierarchy that you can think of only limited in size by the ability of your computer to process the relationships So save the zettles. The Associated kind 30041 adds the prospect of breaking longer text or articles up into sections or snippets called in German, we can then collect or refer to particular bits of longer text like a chart, elegant paragraph, or definition, a data table, directly.
Anyone can create such snippets, even of text that they didn't write, as they can add a reference to the original publication in the tags of the new event. And this means we no longer have to copy paste or quote other people's works. We can simply tie them in. If we worry about them being deleted we can fork them and create our own digitally linked version and then tie that in. This means that source material can be tied to the new material and you can trace back to the source easily using nostr ID's and tags which are signed identifiers, and see who else is branching out from that source or discussing that source.
It's gonna be huge. We are making a big beautiful library, and you are going to build it for us. Anyone, anywhere can therefore publish or republish any document they wish with Nostra and stored where ever they have a relay and view it on any client that's willing to display it. You will own something and be happy. Okay. So that's the article which is on highlighter.com. That's Pablo f 7 z's project or, well, 1 of his 5, 000, 000 projects that he doesn't sleep because he's constantly building. That clearly, this is going to be linked. This entire thing on highlighter.com, is going to be linked in the show notes. But what I just read you is almost almost a perfect skeleton for what I'm talking about.
Here, we're kind of talking about building a library of books that exist, but there's a seed of the future that is buried in that mission. And that is that seed is going to grow into exactly what me and Huddl bod were talking about. This ability for us to link our minds. And you and I know what you'll say. Well, David, can you could use you could use, Google Docs for that or or Workspaces for that. Yeah. If I know you, if I happen to know you personally, but what if I catch a note that's just drifting out there in the wind and I go holy shit that is a hell of a thought. I wonder if that person is 1 of these note taking individuals and he has a repository that I can connect to through my nostril relay using my in pub in my insect.
And let's say that I I go and and through these note kinds, through this this almost the the seed that I'm talking about the seed that's implanted in this mission of the great library of Alexandria grows into the ability for me to interrogate the the person behind that note and find out, do they have an Obsidian library that they've they've made available through relays? And let's say that that interrogation is successful and sure enough, lo and behold, there it is, a repository of notes from somebody who I did not know maybe I have to ask permission from that person to be able to view notes. Maybe they come back and interrogate me and say, why?
And then all of a sudden, we start talking. This is never going to happen with Google. This is never going to happen with Twitter. It's sure as shit ain't gonna happen with Facebook. That's not the way this shit works. Right? We're entering into something that that is far beyond anybody's wildest imaginations of what social media actually is you know a lot of people say oh god social media I get that sentiment. That's because we've trashed it. It's it's like looking at I don't know. It's like looking at the fashion industry. It's such a fucking joke. Right? I mean, I have you ever seen anybody wear any of the garbage that comes across the the floor when the the models are walking back and forth trying not to fall down because they're starving themselves to death? Have you ever seen anybody actually wear any of that shit out in public? No.
You have it. The fall line is coming and it's like a cardboard box. You know? It's like whatever, dude. Not but that doesn't mean that all clothes are worthless. In fact, almost everybody on the planet wears clothes. Almost. I'm sure that there's a tribe somewhere out there that is basically still in loincloths. But generally speaking, 99.5% of the of humanity wants to cover themselves. So clothes is the underlying technology. And when we talk about fashion, we can either be talking about dumbass cardboard box, you know, fall line fashion, or we could be talking about, I don't know, blue jeans and a t shirt.
I'm talking about the social media part that is the blue jeans and the t shirt part the utility part we can't just throw the baby out with the bathwater because these connections are going to be so important to us. Like, I imagine something like where all of a sudden just organically being a hollow bod, not that he has any time at all, but being a hollow bod and I don't know like Lassarin get together and we start looking at each other's notes and the next thing that happens is that a year later a whole book falls out of it. I wrote a 3rd, hollibad writes a 3rd, Lasserin writes a 3rd, and no we're not planning on doing this. I I haven't talked to any of these guys about actually doing this, but it could happen.
And let now let's say that that let's say that I start with a blank slate, and I just somehow or another, I grab somebody's note. I do an interrogation and I'm not sure that how this interrogation actually works. But my question is is like, wow, I read your note and it's a great note, man. I love the way it's written. Do you have anything else? Do you have a repository? Do you, you know, are you are you using, kind 30040 notes? And then I and then I find that repository and all of a sudden I find somebody who's got some great ideas. And I wanna leverage those ideas and I don't know this person. So we start talking because we discovered each other through a thought drifting around a network that we would have that without it we'd never would have found each other and all of a sudden me and that person starts collaborating on an idea.
Nowhere in nowhere in the history of humanity have we ever seen this. This does not existed before And we've had some and think about it this way, these worldwide networks where I could I could be accidentally corrupt collaborating with somebody in New Zealand and not even know it. What that didn't exist in pre American revolution, times. We talk a lot about how these guys, they would meet up at pubs. Right Samuel Adams they would get together and drink beer and and bitch about George the third And then all of a sudden, we got really pissed off at a 2% income tax or or well tax on on tea and some other items. And then all of a sudden we kick the, you know, the world's, superpower out of the country.
That was just meeting at a local pub that you had to be able to walk to that pub or ride a horse to that pub. You sure as shit wasn't calling up the, the that particular pub with, you know, Skype or Zoom or something like that so you could sit in on these meetings right and but even though that that technology does indeed exist today that doesn't mean that you'd know the pub exists. But you might know that PubKey exists because PubKey puts out a kind 30040 note or a 30041 kind of note, and you catch that son of a bitch like a butterfly and you interrogate that butterfly and find out there's some really solid ideas here I'm gonna trace that butterfly back to its source and then I find out it's Daniel from Pub Key and go, shit, Daniel.
Do you do do are y'all keeping y'all's notes? Are y'all keeping y'all's a local library that I can be a part of? And if I can be a part of your library then then it should be reciprocal. You can clearly be a part of my library.
[00:53:47] Unknown:
Maybe I even have it set up where I pay for the notes through lightning network, like a zap. I zap the note.
[00:53:58] Unknown:
Like I could like let's say I set up my Obsidian to where if it gets interrogated and and I've got a setting put up where sure you've interrogated it, you found out that I use kind 300 40 and 41 notes. Here's my repository. But you don't get in unless you unless you pay me. Right? 10, I want 10 satoshis per note or 1 satoshi per note and there's like a limit of, you know, 20 notes. It it how do under what circumstances would I set it up? Why would I set it up that way? This is I don't know. I mean, I wish I could tell you exactly right now. I'm just I'm spitballing ideas here. But the issue is is that all of a sudden now we can pay each other for our ideas. Big or small for, you know, over a long course of time to, like, a very short period of time.
Or maybe maybe we just barter with our notes. But the the what I really wanted to get into with this part of the discussion is being able to pay somebody directly for their collaborative
[00:55:09] Unknown:
inventory.
[00:55:11] Unknown:
I think that's actually going to be important. And, you know, I've been doing this podcast for 5 years. It does not pay the bills. That makes me sad. But that's okay because it's, you know, it's something that I feel that I have to do. Some people pay and some people some people have come out of the woodwork every once in a while with, like, some really big boosts. Like, we're talking, like, couple of $100. That's real. That works. But if there was a network of people that we were paying each other for our podcast, for our content, but also this brings up the idea of the we pay for finished content. You're listening to this after I've edited it. You know, I I will actually don't edit any of the voice parts, unless I really screw up and make a, you know, I don't know, sneeze right into the mic and I don't wanna blow anybody's, you know, ears out. Yeah. That I'll edit. But today, I haven't made any cuts whatsoever.
But I will cap, like, the head music on, I'll put the inner, you know, the intermittent, you know, bumper music in and I'll put the, you know, the end music on and all that kind of stuff. That after that's edited, that's a final product. You don't have access to my raw thoughts. Project Alexandria, the the kernel, the seed that's inside, buried deep within this mission, is going to bloom into being able to harvest other people's raw thoughts that will that will and not kind of, not maybe, will ignite a firestorm of ideas not just in 1 individual, but in an entire network of individuals.
If the powers that be were scared of a few tens, you know, a few handfuls of people getting together to have a beer over at Samuel Adams Pub that resulted in the ousting of the greatest superpower the world had ever seen till that day they have seen nothing yet they do not realize the power that we're talking about here and you might go well that's a little bit of hyper you know hyperbole. It's a little hyperbolic Dave. No it's not.
[00:57:34] Unknown:
It really isn't.
[00:57:37] Unknown:
We're about to step forward into a future that we have no idea how to operate in. There's no operations manual. There's no user manual. There's no nothing. We started today's show with the deletion of the Chevron deference. That is larger than you might think it is. We're ending the show talking about the ability for people to connect with other people that they didn't even know exist and form the kind of relationships on their raw thoughts that we have yet to see. We see people's finished tweets. We might form a collaboration with them and get a Google Docs set up, but that's that's not what I'm talking about here.
I'm talking about you being able to see 10 different notes, hold them in your mind and go, I know exactly what to do these and these notes came from 8 different people. You won't be able to do that without a system like this. And that's why Noster is the future. Noster provides me hope just like Bitcoin is the future and just like Bitcoin provides me hope.
[00:58:50] Unknown:
1 thing is clear. We are at the boundary line between what was and what is, and I will see you on the other side.
[00:59:02] Unknown:
This has been Bitcoin and and I'm your host, David Bennett. I hope you enjoyed today's episode and hope to see you again real soon. Have a great day.
Good morning. This is David Bennett, and this is Bitcoin and, a podcast where I try to find the edge effect between the worlds of Bitcoin, gaming, permaculture, podcasting, and education to gain a better understanding of all. Edge effect is a concept from ecology describing a greater diversity of life where the edges of 2 systems overlap. While species from either system can be found at the edge, it is important to note there are species in the overlap that exist in neither system, and that is what I seek to uncover. Uncover. So join me in discovering the variety of things being created as Bitcoin rubs up against other systems. It is 9:20 AM Pacific Daylight Time. It is the 28th day of June 2024, and this is episode 914 of Bitcoin and jb55, Twitter account is dead. It's gone.
It had a good run. Well, you know, according to jb 55 himself, that's Will, Casarin or Casarin. I'm not exactly sure how to pronounce it. If you don't know who I'm talking about, it's the creator of the Nostr client, Domus, that we have all come to know and love on our iOS. And I don't know if it went over to, Google Phones or not. I'm not exactly sure if it's Android enabled, yet or or what. I don't use Android, so I guess I kinda wouldn't know. But he, put up a note on Noster. I don't know, like yesterday, I guess. It says it's 20 hours old. And all he says is it had a good run, and he shows a screenshot of his Twitter account at jb55.
And it says this account doesn't exist. So I can only assume that he did not did not, I repeat, did not get axed from Twitter by the, powers that be over at Twitter that he did it himself, that he deleted his own Twitter account. And we're seeing more and more and more of this. For those of you who are listening and you have just refused to even look at Noster and are sneering at it, you're not you're not gonna wanna sneer at it very much longer. The second half of the show, I'm gonna talk about the greatest library. And I'm not even going to talk about it just yet at all. I'm just going to say we're going to talk about the greatest library. The only thing that I will say about it is that the only way that we can have the greatest library is with Nostr and things like it. It doesn't mean that it's Nostr only. It does not mean that I would not be looking at something else like nostril something that is is more distributed than what we have with Twitter and Facebook and all the rest of the the walled gardens that we're really starting to not really appreciate anymore because there's nothing to really appreciate about them. But it is a fact that JB 55 has probably deleted his own Twitter account because most of the time it would say this account is suspended, or this account is, I don't know, permanently, permanently suspended.
Since it doesn't say that, instead it says it just doesn't exist, well, that tells me that, JB 55 has done it himself. Now, Dev, another piece of news not connected is Jack Mallers has announced DCA free or well well no fee DCA at strike So he says in this note on Nostrand, yo, we just launched no fee DCA. That's daily cost average at strike. No matter who you are, no matter where you are, your DCA order on strike is on the house. We don't run fiat ads. We put our money where it matters making every set count for every bitcoiner screw instagram ads screw them I say screw them well he didn't say that I'm saying no but why not no fee DCA I talk about it in the video but it's important to note that the no fee kicks in after the 1st week. For example, if you start an hourly or a daily DCA we will start waiving the fee on the 8th day if you start a weekly or monthly DCA we will start waiving the fee the second order this is only to prevent people from gaming the offer you can learn more here and then there's a link right We heard you all loud and clear.
With Strike, you can now DCA Bitcoin and withdraw it to cold storage with no fees. We work for you. We work for Bitcoiners. We work for Bitcoin. That's all for now. Keep the feedback coming and let us know what you want next. Much love. Okay. So, for those that don't know what DCA is, daily cost average is just a way to put small amounts of money or you could even I mean, depending on how much cash you've got large amounts of money. But, like, you know, you're buying like, some people are buying, like, $1 worth of of bitcoin every hour on the hour from strike. And after a week, there's no fees. It used to be like it used to be that you'd have to pay fees and some pretty hefty fees too, by the way, on strike, but no more no more no more. So if you wanna if you wanna start DCA ing, you might consider you might consider going over to Strike. And the only reason that I don't use Strike right now is that my bank, Wells Fargo, is not allowing me to connect to strike.
And if I do it too often, they very well may shit can my account. I've just gotten gotten used to it. And the reason that that's important is that I'm connected to other family members because we all have, we all have a you know, we run a family business, and all of our bank most of our banking is done at Wells Fargo. If they shit came my personal account, they could cause some real serious problems for the other people that are involved with me because my name and social security number and all that shit, my unfree identity is linked to all these other entities. So it's not something that I can just, you know, readily do.
That's why I don't do it. That that right now I'm using cash app to do my d c a stuff in it works but there's also fees involved I wish I could go to strike I it hey you know 6 1 half dozen or the other at least I'm DCA for bitcoin now let's get into the news. This is an important 1. We've been we've been we've been hearing about the Chevron deference case for a long time. Well, the Supreme Court has now overturned it. And you may not know what it is. You may have never heard about it before, but it's been affecting you since 1984. I guarantee it.
Bitcoin Magazine, Colin Crossman writes, supreme court decision overturns Chevron. A victory for judicial authority as well as bitcoin. In a landmark decision on June 28th, 2024, the Supreme Court of the United States by a 6 to 3 vote dudes overruled the long standing Chevron doctrine fundamentally reshaping the landscape of administrative law and judicial review. The case, which is named Lauperbright Enterprises versus Raimondo, signals a significant shift in the balance of power between the judiciary and administrative agencies. And that's where the important relationship is occurring here. We'll get into it. This decision not only reinforces judicial independence, but also presents substantial benefits for the Bitcoin industry echoing the implications of last year's West Virginia versus the EPA decision.
The case. The Chevron doctrine established in Chevron USA Inc versus Natural Resources Defense Counsel Inc. Required courts to defer to agency interpretations of ambiguous statutes as long as the interpretation was deemed reasonable. This 2 step framework has become a cornerstone of administrative law, often tipping the scales in favor of agency authority over judicial oversight. In LauperBryte, the petitions challenged a National Marine Fisheries Service rule that allowed, or rather required, Atlantic hearing herring the fish the herring fish fishermen to bear the cost of onboard observers arguing that the Magnusson Stevens Act did not authorize such a mandate.
The lower courts had upheld the NMFS, the, National Marine Fisheries Service rule, applying Chevron deference to conclude that the agency's interpretation was permissible, the Supreme Court's ruling. Chief Justice Roberts, writing for the majority, delivered a decisive opinion that dismantles Chevron deference. The Court held that the Administrative Procedure Act requires courts to exercise independent judgment when interpreting statutes rejecting the notion that ambiguity ambiguities in law should default to agency interpretations quote Chevron defines the command of the APA that the reviewing court, not the agency whose action it reviews, is to decide all relevant questions of law and interpret statutory provisions, Roberts wrote.
It requires a court to ignore, not follow the reading the court would have reached had it exercised its independent judgment. Chevron cannot be reconciled with the APA. The ruling emphasizes that statutory ambiguities do not automatically delegate interpretive authority to agencies. Instead, courts must use traditional tools of statutory construction to determine the best reading of a statute, ensuring that agencies do not exceed their conferred powers. So the impact on bitcoin and bitcoin mining these implications of this ruling extend far beyond administrative law reaching into the heart of the bitcoin mining industry, much like the supreme court's decision in West Virginia versus EPA, which curbed curbed I say curbed oh 0 wait hold on.
Okay. Sorry. I I I got I get distracted guys. I get distracted. Cannot be helped. Can't be helped. Alright. Let's do that again. The implications of this ruling extend far beyond administrative law, reaching into the heart of the Bitcoin mining industry. Much like the Supreme Court's decision in West Virginia versus the EPA, which curbed the Environmental Protection Agency's overreach, this ruling reinforces the need for clear congressional authorization before any agencies can impose significant regulatory burdens. For the mining industry, this decision is a clear win.
Regulatory uncertainty has long been a thorn in the side of Bitcoin miners who rely on predictable and stable access to power and other resources. By curbing the ability of agencies to unilaterally expand their regulatory reach, the court has created a more favorable environment for Bitcoin mining operations. Bitcoin miners have often been at the mercy of shifting regulatory landscapes which can dramatically impact their operations, for instance. Stringent environmental regulations targeting power consumption could have severely constrained the industry.
With the Chevron doctrine overturned any further regulatory attempts to impose such burdens will require explicit and unambiguous congressional authorization followed by detailed judiciary scrutiny. This decision also invigorates the major question doctrine which posits that significant regulatory actions with vast economic and political implications require a clear congressional authorization. This doctrine can be a powerful tool for Bitcoin miners and other industries to challenge regulatory overreach, ensuring that agencies cannot impose wide ranging policies without clear legislative backing. And furthermore, recent developments have seen the Biden administration intensify oversight on the US Bitcoin mining sector through an Energy Information Agency also known as the EIA, Emergency Survey, portraying electricity usage by miners as a significant threat to national grid stability. And this move demanded detailed disclosures from miners and mirrored actions in countries like Venezuela signaling a concern concerning trend towards building a full registry of mining activities.
The industry's response united against such overreach and resulted in a decisive victory against the federal government. The recent NRA and Cantero cases further illuminate the judicial shift toward protecting industry autonomy from regulatory overreach. In both cases, the courts have shown a willingness to scrutinize agency actions that appear to exceed their statutory authority. The NRA case dealing with banking regulations and the Cantero case focusing on state versus federal regulatory powers underscore the importance of clear legislative directives.
These cases have set a precedent that benefits the Bitcoin mining industry by highlighting the judiciary's role in curbing unwarranted regulatory expansion akin to the protections now reinforced by the Supreme Court's rejection of the Chevron deference. The Supreme Court's decision to overturn Chevron represents a monumental shift towards judicial independence in a recalibration of the administrative state. For the Bitcoin industry, this ruling is particularly significant promising a more predictable and less burdensome regulatory environment. As industries and legal practitioners grapple with the implications of this ruling, 1 thing is clear: the era of agency deference has been significantly curtailed, marking a new chapter in the interpretation and application of federal laws. This ruling underscores the importance of clear legislative mandates and may prompt Congress to take a more active role in defining the scope of agency powers moving forward.
For Bitcoin miners, this decision is a beacon of hope, heralding a future where regulatory overreach can be more effectively challenged, fostering a more stable and supportive environment for the growth and sustainability of the industry. As the judiciary reclaims its role as the ultimate arbiter of the law, the Bitcoin mining community and Americans as a whole can now look forward to a more balanced and just regulatory landscape. Ladies and gentlemen, that is a win. And it's not just a win for Bitcoin miners. So what happened? Okay. Here's my interpretation of this entire thing.
Back in 1984, the courts basically said, I don't wanna deal with this crap. So EPA, FDA, USDA, all you guys that are regulatory SEC, all you guys, you you make the call. You make the laws. They they deferred that's the deference they deferred the judicial power to these agencies and these agencies since 1984 have been running wild they've been squashing this is why it's hard to open a business in the United States this is why there's so much paperwork This is why red tape is choking the life out of everything that we see. But before I leave this topic, I want to say something that about something another industry right we talked they talked this bitcoin magazine piece talked more about how this affects the bitcoin miners how does it affect ranchers remember all of the things that we've been talking about how it's almost impossible to get meat processed how it's almost impossible to get anything done.
We've got a couple of senators I think senators, maybe just, representatives that are really trying to get this whole bovine ear tag identification thing
[00:17:17] Unknown:
stopped. That's all regulatory landscape. And now that's all gone.
[00:17:24] Unknown:
It's all gone. It just it just poof just like that it disappeared. So this is a massive wind. We have no idea what the landscape moving forward for small businesses, large businesses, the ranching industry, the Bitcoin mining industry. We don't know the implications yet. But mostly, I find that the implications are probably going to be good and positive. Let's move on to yet more politics stuff. And no, I'm not going to say a damn thing about the clown show that occurred last night, Thursday, at whatever time that that freaking clown show debate occurred. Not gonna talk about it. But I'm gonna talk about this. Kraken's Jesse Powell has donated $1, 000, 000 in crypto to the Trump campaign.
Josh O'Sullivan, writing for Cointelegraph, Jesse Powell, the cofounder of Kraken, has announced on Twitter that he has personally donated $1, 000, 000 mostly in ether to Donald Trump's 2024 presidential campaign. Powell emphasized his support for Trump as the only major party candidate currently advocating for pro crypto policies. Quote, I am excited to join other leaders from our community to unite behind the only pro crypto major party candidate in the 2024 presidential election so the United States can continue to remain a leader in blockchain technology. You know, I remember when Jesse Powell that's all I'm gonna read from this because that's all we really need to know. But I remember when Jesse Powell used to be a good solid Bitcoiner, and it did not take long for him to fall into the depths of shit coinery after they after, crack and really got off the ground. It's sad to see, but it is what it is.
However, what that signals what I what I wanted to say about it is this. This donation thing, this this flag flying, this signaling of what side of the of the aisle that you're on, I I think it's losing its steam. I really do. It's like, I I mean, nobody trusts anybody anymore to the point that if you do signal, because things are so divided and so hot right now, you're immediately going to be attacked by the other side. So my question is this if you're going to donate to 1 of these candidates why even signal that you did it? What what's to gain?
What do you gain by actually signaling? You can still let the the candidate and the candidate's, you know, presidential election committee know that you donated, and they're not gonna tell anybody if you don't want them to. It's not gonna do anything for them, why would you do it? I don't understand this any longer. This does this makes no more sense to me. Not in today's world. But we're gonna fly down south. We're gonna fly down to Bolivia. We're gonna check out what the hell's going on down there. Cointelegraph Prashant Jha has this headline.
Bolivia lifts the ban on Bitcoin and authorizes crypto transactions via banks. Bolivia Central Bank, the Banco Central de Bolivia, has indeed lifted its ban on Bitcoin and crypto payments, allowing a financial entities to conduct transactions with digital assets in a bid to modernize its payment system. The central bank said that the move was made to help Bolivia elevate its struggling economy and align it with Latin American crypto regulations. The change in regulatory stance marks the end of a ban on crypto use in the country that began back in 2014. Guys, that's before I even got into Bitcoin. That's how long the ban in Bolivia has been standing, and no more.
Gone. The government prohibited banking entities from interacting with cryptocurrencies on December or in December of 2020 under board resolution 1442020. The recently approved regulations allow banks to transact in cryptocurrencies via approved electronic channels. However, the central bank clarified that cryptocurrencies are not accepted as forms of legal tender. Yeah. Not yet. Thus, although crypto assets are tradable via banks, the Bolivian government does not recognize them as legal tender, and companies are not required to accept them as payment. Under its economic and financial education plan, Banco Central de Bolivia also plans to create an awareness program for the general public.
This plan attempts to inform the general public about the possible risks associated with cryptocurrencies and how to manage them responsibly. The new legislation was introduced in collaboration with the Financial Investigation Unit, the Financial Systems Supervisory Authority and the Central Bank, the 3 government bodies produced the regulatory update which became effective on June 26th. The new legislation also aligns Bolivia's crypto regulation and the suggestions made by Latin American Financial Action Task Force making it another Latin American nation to adopt crypto to help boost its economy. All right. So then we'll go into a little bit of Latin America becoming pro Bitcoin. But we already know that.
We we understand what's going on in El Salvador. We understand what might be occurring in places like Brazil and Argentina. And like I said, if you're not watching Central and South America, then you're missing at least 1 third of what's going on in Bitcoin. Africa would be the other third, and us idiots up in the west that just were going to be the last third to get into this. I mean, if you're smart and you're in the west, then you've already got your you've already got Bitcoin and you're already DCA ing and you're all you're doing all of that, so you're okay. But when I see Western governments continuously sell the bitcoin that they've absconded with even though it is stolen property I get that part. Okay. I get it. But there's nothing we can do about that. So we might as well say, well, okay, you've got it and now you're going to do something even more stupid with it. So you were stupid to steal it from somebody and now you're stupid because you're going to sell it on the open market. Watching Germany and the United States engage in this idiotic behavior is really, really sad.
But maybe because the Supreme Court overturned the Chevron deference, that we will be able to make arguments that the United States cannot sell that and that there has to be a clear congressional mandate that we do. And that mandate damn well better be crystal clear as to why. Because I don't think that now that we live in a landscape beyond the Chevron deference, that the SEC cannot all by itself call the shots. Maybe. Not not exactly sure, but that's what Chevron deference is saying to me is that these regulatory authorities basically just got they just got impaled.
And now now maybe the United States Marshals Service that owns the Bitcoin or at least custodies it, the SEC, the FDIC, and all these other people, that they won't be able to make these calls to sell a national treasure without an actual congressional oversight. Just I'm just saying. Not not that I trust those guys to do a damn thing themselves, or at least not to do anything that's actually smart, but, hey, it is it is what it is. So there's here's to hoping is what I'm saying. Now, coming back up into the West, the T Rex Group has filed for 2x Long Inverse MicroStrategy ETF god these some of these headlines are just horrible sentences that by the way this is CoinDesk it's written by Sam Reynolds T Rex Group, the exchange traded funds issuer, has filed for an ETF that will take a 2x long position in Bitcoin heavy MicroStrategy.
According to a filing published on the Securities and Exchange Commission's EDGAR platform, the T REX 2x Long MSTR Daily Target ETF aims to achieve 200% of MicroStrategy's daily performance. T Rex also filed for an ETF that would take a 2x inverted position in MSTR. Effectively both of these listed products would be a leveraged long or short on Bitcoin. Their hedging is what they're doing. MSTR, with its heavy exposure to bitcoin, is known for its volatility as it tracks the world's largest digital asset. The stock's current implied volatility is as high as 85.6, but it is trending lower than its recent average as Bitcoin's price becomes fairly stable in the short term.
Recently, its CEO, Michael Saylor, announced that the firm would offer $500, 000, 000 in convertible notes to boost its bitcoin holdings. Bloomberg ETF analyst Eric Balchunas wrote on Twitter that these ETFs would be a near lock to be the most volatile ETFs ever seen in the United States with 20 times the volatility of the SPX. Oh my god. That's just how do you sleep? Anyway, they will be the ghost pepper of ETF hot sauce, Eric Balchuna said. ETF issuers Defiance and Granite Shares have also listed products to take short positions in MicroStrategy.
T Rex also filed for 6 count them 6 leveraged inverse bitcoin ETFs in March, with positions ranging from 1.5x to 2x. So the short guys are out there. Alright? They're they're like sharks in the water. So beware. And right now, we're chilling out at $60, 739 on a on a price of Bitcoin. The shorters are out there. They're circling in the water. It is what it is. But what I want to say about these products is that they do other than price suppression, as we've as we've we've come to realize how markets in the West have been operating for decades. Now that we're actually paying attention, you know, a lot of us didn't care. We're just going about our our daily business and then boom, Bitcoin happens. Then the next thing you know, you figure out that economics is actually kind of fascinating and you end up learning more about it than you ever thought you would. Right? So there we are. Now, these products, other than putting price suppression and price depression pressures on the price of bitcoin, do nothing.
They don't do anything. There's no price discovery here. I don't care what anybody tells me. You could be a Nobel laureate and tell me how wrong I am that of course this is the market trying to discover price. No it's not. These are derivatives synthetic derivative products on tangential bullshit information ie the price of Bitcoin that's all it is it does nothing it creates nothing it it doesn't introduce new technology it doesn't introduce new products it doesn't introduce new anything It's just the old world and their last dying breath. Let's run the numbers.
CNBC Futures and Commodities West Texas Intermediate Oil is down over half a point to $81.23. Brent, North Sea is down scant, $86.36. Natural gas, however, is down way down 2 and a half percent to $2.61 per 1, 000 cubic feet, and gasoline is down over a half to $2.52 a gallon. All of the shiny metal rocks are doing well today. Gold is up a 10th of a point. Silver is up 0.75. Platinum is up 0.64. Copper is up 1 and a third. Palladium is up 5.12%. Wow. It's talking about reaching for the sky. Ag is mostly in the red today. Biggest loser is corn. 4 points to the downside. Biggest winner today is gonna be chocolate, which is 4 points to the upside.
Live cattle are down a quarter. Lean hogs, however, are up 2 points. Feeder cattle are down 0.12%. The Dow is running sideways. The S and P is down 0.15%. Nasdaq is down a quarter of a percent. And the S and P mini is the only thing in the green, up 1 point wait no point 18 percent. Sorry about that. And, yeah, price is $60, 136. That is a $1, 200, 000, 000, 000 market cap. You can get only 26 point 2 ounces of shiny metal rocks with your 1 Bitcoin of which there are 19, 718, 442.99 of, and average fees per block are still low. 0.15 BTC on average per block. Isn't that relatively interesting?
Okay. Let me get to the, hold on for a second. There are 191 blocks waiting to clear, carrying, 230, 000 unconfirmed transactions, 10 satoshis per vbyte for high priorities. 9 satoshis per vbyte for low priority. And anything under 4 and a third are being purged from mempools around the world. Hash rate is flashing, kinda higher a little bit today. 588.3 exahashes per second. Now from Nostrillex, which was the episode 913 of bitcoin and wow man your donations are just I love ghost shadrich because he came in with a rush boost, 2112. Pies came in with 420. Says thank you, sir. No. Thank you. And God's death with 237 says, thank you, sir. No. Thank you. But, wow, man, donations are down across the board. It's kind of it's it's, you know, crying I'm a crying clown, man.
As a as a oh, Adam Curry might say, I might have to go out and and and club some baby seals to make sure that I get some donations in here. And it's, you know, it's always hard to it's always hard to ask for donations when when you when you get to to thinking about it. But then you start hearing people like, you know, Jack Spierko talk. You hear people like Adam Curry talk, John c Dvorak talk. And they're like, no. Because if you don't tell anybody that act that you actually want your their donations, they're not going to hit the button. And the way that I take donations is through Boostagrams.
You can stream me satoshis, but you have to use well, you don't have to. I mean, I've got I've got a a Patreon account, Bitcoin and podcast, if you wanna go look for it on Patreon, and you can use Fiat. But if you don't wanna use Fiat, just use a podcasting 2.0 app or just boost me on Nostra or something like that. You can just send me zaps directly. But, you know, podcasting 2.0, definitely the way to go. If you're still using like an old podcast app, not really doing yourself any any favors. You're not getting album art. You're not getting good show notes. You're not getting chapters. You're not getting chapter art. You're not getting transcriptions. You're not getting a whole bunch of stuff.
And it's not I mean, I don't pay for Fountain. Fountain is my daily driver. That's the Fountain app is on iOS, my daily driving, podcast app. I get all my favorite podcasts from it. I don't pay them a monthly fee. If I'm boosting or I'm streaming, they get a portion of those satoshis. But it's like 1% or something like that. It's not it's they're not they're not making a big ask. So when I'm asking you for donations, and I am, then use the boostogram function on fountain or Streamys satoshis on fountain. It's just that easy.
And that's the weather report. Welcome to part 2 of the news that you can use Project Alexandria. Okay. When I was talking about the greatest library, this is what I'm talking about. Now let me give you a little bit of context here.
[00:34:44] Unknown:
This project, Project Alexandria,
[00:34:49] Unknown:
is all about Noster. It's also all about building a library, about building a library using the infrastructure that we already have with Nostr, I e, relays, the ability to use in insec and n pub key pairs for identity, using the webbing, the the the cross linking between all the relays that that it's it's a web. It's a network. Right? Now I had a very long discussion with Hogglebod, the creator of the coracle.social Noster client. If you're not using coracle.social, if you haven't at least looked at it, wow, dude. Go look at this thing. But me and him sat down, and we had a long, a very long interview. And part of that interview starting to get to the last part of it, and I'll put a link to that interview down in the show notes for the Bitcoin and podcast.
We talked a lot about my fascination with something called zettelkasten okay so with zettelkasten it is a way like when you're highlighting like think back to college or high school and you were highlighting notes in your book and then you would study those notes you know like if you were actually studying for tests and then after that you you know a year later you forgot that that was there you forgot that that note was there And the context was a little boring because we're talking about school. But as you get older and you start, like, reading books that you want to read that are not, you know, specifically not fiction books. Like if you're reading history books or, you know, something like me, I read a lot of books about soil. If you're an economist and you're reading, you know, if you're interested in the economy now because you got into Bitcoin, you're reading nonfiction.
You're you're you're trying to understand something. And if you're taking notes in that book and and then you never read that book again that note does you nothing right I use something called obsidian which is a note taking app okay it's not on my I do have it on my phone but I use it on my desktop mostly. And it's a way to capture these notes that you write. It's a way to link the notes that you write to other notes that you think might actually have something to do with the note that you wrote. And as time as time goes by, you end up with a larger and larger set of these notes from all these different books and you can start making some serious high quality connections and say, 0.
0. 0. I get it. So this looks a lot like that from a completely different viewpoint. Like, I'm making connections between things from economies to the way life in the soil works nutrients. I'm starting to I've been seeing these connections, these similarities in life ever since I've been starting to take these notes right and and now that I've got enough of a repository I can start going back and I can start saying well well now I can do content creation. So me and Hollabod sat down and my questions to Hollabod was how can we I link my Obsidian via the Noster network and via insect impub to another user like the guy Swan, who also uses things like Obsidian for his note taking.
And would there be a way that I could place some of my notes that I want to make public in my Obsidian into a relay and Obsidian actually has Nostr functionality. Somebody wrote a plug in for it so I can publish notes directly out of Nostr out of Obsidian to Noster. What what if what if me and Guy Swan and some of the other people in the Bitcoin Bitcoin industry where we had a shared repository of notes and that we could start looking at other people's notes and see if there's any connections between what we're writing and what they're writing. And they can look at my notes and say, well, that I've never thought about this soil thing, but now that's starting to make me think.
And then all of a sudden, they end up doing some of their content creation that I helped with even even though that they're not actually going down the same thought train that I'm that I'm riding on. You see what I'm saying? Like we we leverage each other's mind trust or brain trust to ignite other ideas within ourselves and that we go off in our different directions because something that oh I don't know that hottlebod said in his notes that I picked up in my Obsidian via Noster started making me think, oh, shit. I I know exactly what that fits with in my own repository. So now we come to something that is kind of like it. Not exactly but getting close and I think that they're going in this direction and that's this project Alexandria.
Now it's written by Lasserin, l a e s e r I n. She is on Noster as well. So let me read this. The new great library we have all heard tales of Amazon and other booksellers banning customers from their bookstores or censoring and editing purchased books. The famous Project Gutenberg and similar organizations are performing a good work to help protect many of our precious books from this fate. But it is merely a centralized website and therefore not censorship resistant. Also, it mostly posts books in English or German. So, we, at GitCitadel, have decided to move Project Gutenberg to Noster and house it in the most distributed way possible on relays Specifically, our new public Citadel Relay for out of print books and other documents, but also on any Relay anywhere.
And because we are a very humble group we're naming the effort Alexandria. And the first book to be printed on Noster is the Bible because obviously. Now, let's pause right there. What was the first book ever printed on the invention that is known as the printing press that was designed by or built by Gutenberg?
[00:41:32] Unknown:
First book was the bible.
[00:41:37] Unknown:
So it's fitting that this project is going to put the bible as the as the first publication. It makes sense. Also, if for those that don't know trying to or struggling with Alexandria, that name comes from the library at Alexandria in Egypt which burnt to the ground and we have no idea how much knowledge was actually lost from ancient times because that library was like the library of congress of its day. And this is an ancient we're talking ancient Egypt. Alright. We ain't we ain't talking, like, you know, a couple 100 years ago. We're talking about a 1000 years ago kinda thing. Right? So a long time ago. And it had stood for centuries as far as we know.
Right? But and we the other thing that we do know is that it burnt to the ground, and we know that it had a massive repository of ancient knowledge. We have no idea how far back the knowledge that was lost in the fire actually went. That's where the word Alexandria is coming from so let's continue why on relays well why not on relays? Relays are 1 of the few widely distributed databases for documentation in existence. The Relay database spans the entire globe and anyone can maintain their own Relay on their own personal computer or mobile phone. That means that anyone can house their own books.
Which books are their own? Any books they have in their own possession. Any books someone would have to physically pry out of their cold dead computer. Once we begin generating ebooks from notes master notes, with an associated header, which will be quite easy to do so long as they are written in markdown or similar, they will also be readable, downloadable, and storable in EPUB format. And it is, after all, only a matter of time until someone enterprising makes an e paper noster client for calmer reading of notes, and then you can download and read them without having to bother converting beforehand which maintains their noster navigation.
The new event is called kind 30040 and it allows us to take any sort of note containing any sort of characters and create a type of note collection, or a book of notes, journal of notes, magazine of notes, And it can be nested or embedded inside of other notes, creating any sort of note combination and note hierarchy that you can think of only limited in size by the ability of your computer to process the relationships So save the zettles. The Associated kind 30041 adds the prospect of breaking longer text or articles up into sections or snippets called in German, we can then collect or refer to particular bits of longer text like a chart, elegant paragraph, or definition, a data table, directly.
Anyone can create such snippets, even of text that they didn't write, as they can add a reference to the original publication in the tags of the new event. And this means we no longer have to copy paste or quote other people's works. We can simply tie them in. If we worry about them being deleted we can fork them and create our own digitally linked version and then tie that in. This means that source material can be tied to the new material and you can trace back to the source easily using nostr ID's and tags which are signed identifiers, and see who else is branching out from that source or discussing that source.
It's gonna be huge. We are making a big beautiful library, and you are going to build it for us. Anyone, anywhere can therefore publish or republish any document they wish with Nostra and stored where ever they have a relay and view it on any client that's willing to display it. You will own something and be happy. Okay. So that's the article which is on highlighter.com. That's Pablo f 7 z's project or, well, 1 of his 5, 000, 000 projects that he doesn't sleep because he's constantly building. That clearly, this is going to be linked. This entire thing on highlighter.com, is going to be linked in the show notes. But what I just read you is almost almost a perfect skeleton for what I'm talking about.
Here, we're kind of talking about building a library of books that exist, but there's a seed of the future that is buried in that mission. And that is that seed is going to grow into exactly what me and Huddl bod were talking about. This ability for us to link our minds. And you and I know what you'll say. Well, David, can you could use you could use, Google Docs for that or or Workspaces for that. Yeah. If I know you, if I happen to know you personally, but what if I catch a note that's just drifting out there in the wind and I go holy shit that is a hell of a thought. I wonder if that person is 1 of these note taking individuals and he has a repository that I can connect to through my nostril relay using my in pub in my insect.
And let's say that I I go and and through these note kinds, through this this almost the the seed that I'm talking about the seed that's implanted in this mission of the great library of Alexandria grows into the ability for me to interrogate the the person behind that note and find out, do they have an Obsidian library that they've they've made available through relays? And let's say that that interrogation is successful and sure enough, lo and behold, there it is, a repository of notes from somebody who I did not know maybe I have to ask permission from that person to be able to view notes. Maybe they come back and interrogate me and say, why?
And then all of a sudden, we start talking. This is never going to happen with Google. This is never going to happen with Twitter. It's sure as shit ain't gonna happen with Facebook. That's not the way this shit works. Right? We're entering into something that that is far beyond anybody's wildest imaginations of what social media actually is you know a lot of people say oh god social media I get that sentiment. That's because we've trashed it. It's it's like looking at I don't know. It's like looking at the fashion industry. It's such a fucking joke. Right? I mean, I have you ever seen anybody wear any of the garbage that comes across the the floor when the the models are walking back and forth trying not to fall down because they're starving themselves to death? Have you ever seen anybody actually wear any of that shit out in public? No.
You have it. The fall line is coming and it's like a cardboard box. You know? It's like whatever, dude. Not but that doesn't mean that all clothes are worthless. In fact, almost everybody on the planet wears clothes. Almost. I'm sure that there's a tribe somewhere out there that is basically still in loincloths. But generally speaking, 99.5% of the of humanity wants to cover themselves. So clothes is the underlying technology. And when we talk about fashion, we can either be talking about dumbass cardboard box, you know, fall line fashion, or we could be talking about, I don't know, blue jeans and a t shirt.
I'm talking about the social media part that is the blue jeans and the t shirt part the utility part we can't just throw the baby out with the bathwater because these connections are going to be so important to us. Like, I imagine something like where all of a sudden just organically being a hollow bod, not that he has any time at all, but being a hollow bod and I don't know like Lassarin get together and we start looking at each other's notes and the next thing that happens is that a year later a whole book falls out of it. I wrote a 3rd, hollibad writes a 3rd, Lasserin writes a 3rd, and no we're not planning on doing this. I I haven't talked to any of these guys about actually doing this, but it could happen.
And let now let's say that that let's say that I start with a blank slate, and I just somehow or another, I grab somebody's note. I do an interrogation and I'm not sure that how this interrogation actually works. But my question is is like, wow, I read your note and it's a great note, man. I love the way it's written. Do you have anything else? Do you have a repository? Do you, you know, are you are you using, kind 30040 notes? And then I and then I find that repository and all of a sudden I find somebody who's got some great ideas. And I wanna leverage those ideas and I don't know this person. So we start talking because we discovered each other through a thought drifting around a network that we would have that without it we'd never would have found each other and all of a sudden me and that person starts collaborating on an idea.
Nowhere in nowhere in the history of humanity have we ever seen this. This does not existed before And we've had some and think about it this way, these worldwide networks where I could I could be accidentally corrupt collaborating with somebody in New Zealand and not even know it. What that didn't exist in pre American revolution, times. We talk a lot about how these guys, they would meet up at pubs. Right Samuel Adams they would get together and drink beer and and bitch about George the third And then all of a sudden, we got really pissed off at a 2% income tax or or well tax on on tea and some other items. And then all of a sudden we kick the, you know, the world's, superpower out of the country.
That was just meeting at a local pub that you had to be able to walk to that pub or ride a horse to that pub. You sure as shit wasn't calling up the, the that particular pub with, you know, Skype or Zoom or something like that so you could sit in on these meetings right and but even though that that technology does indeed exist today that doesn't mean that you'd know the pub exists. But you might know that PubKey exists because PubKey puts out a kind 30040 note or a 30041 kind of note, and you catch that son of a bitch like a butterfly and you interrogate that butterfly and find out there's some really solid ideas here I'm gonna trace that butterfly back to its source and then I find out it's Daniel from Pub Key and go, shit, Daniel.
Do you do do are y'all keeping y'all's notes? Are y'all keeping y'all's a local library that I can be a part of? And if I can be a part of your library then then it should be reciprocal. You can clearly be a part of my library.
[00:53:47] Unknown:
Maybe I even have it set up where I pay for the notes through lightning network, like a zap. I zap the note.
[00:53:58] Unknown:
Like I could like let's say I set up my Obsidian to where if it gets interrogated and and I've got a setting put up where sure you've interrogated it, you found out that I use kind 300 40 and 41 notes. Here's my repository. But you don't get in unless you unless you pay me. Right? 10, I want 10 satoshis per note or 1 satoshi per note and there's like a limit of, you know, 20 notes. It it how do under what circumstances would I set it up? Why would I set it up that way? This is I don't know. I mean, I wish I could tell you exactly right now. I'm just I'm spitballing ideas here. But the issue is is that all of a sudden now we can pay each other for our ideas. Big or small for, you know, over a long course of time to, like, a very short period of time.
Or maybe maybe we just barter with our notes. But the the what I really wanted to get into with this part of the discussion is being able to pay somebody directly for their collaborative
[00:55:09] Unknown:
inventory.
[00:55:11] Unknown:
I think that's actually going to be important. And, you know, I've been doing this podcast for 5 years. It does not pay the bills. That makes me sad. But that's okay because it's, you know, it's something that I feel that I have to do. Some people pay and some people some people have come out of the woodwork every once in a while with, like, some really big boosts. Like, we're talking, like, couple of $100. That's real. That works. But if there was a network of people that we were paying each other for our podcast, for our content, but also this brings up the idea of the we pay for finished content. You're listening to this after I've edited it. You know, I I will actually don't edit any of the voice parts, unless I really screw up and make a, you know, I don't know, sneeze right into the mic and I don't wanna blow anybody's, you know, ears out. Yeah. That I'll edit. But today, I haven't made any cuts whatsoever.
But I will cap, like, the head music on, I'll put the inner, you know, the intermittent, you know, bumper music in and I'll put the, you know, the end music on and all that kind of stuff. That after that's edited, that's a final product. You don't have access to my raw thoughts. Project Alexandria, the the kernel, the seed that's inside, buried deep within this mission, is going to bloom into being able to harvest other people's raw thoughts that will that will and not kind of, not maybe, will ignite a firestorm of ideas not just in 1 individual, but in an entire network of individuals.
If the powers that be were scared of a few tens, you know, a few handfuls of people getting together to have a beer over at Samuel Adams Pub that resulted in the ousting of the greatest superpower the world had ever seen till that day they have seen nothing yet they do not realize the power that we're talking about here and you might go well that's a little bit of hyper you know hyperbole. It's a little hyperbolic Dave. No it's not.
[00:57:34] Unknown:
It really isn't.
[00:57:37] Unknown:
We're about to step forward into a future that we have no idea how to operate in. There's no operations manual. There's no user manual. There's no nothing. We started today's show with the deletion of the Chevron deference. That is larger than you might think it is. We're ending the show talking about the ability for people to connect with other people that they didn't even know exist and form the kind of relationships on their raw thoughts that we have yet to see. We see people's finished tweets. We might form a collaboration with them and get a Google Docs set up, but that's that's not what I'm talking about here.
I'm talking about you being able to see 10 different notes, hold them in your mind and go, I know exactly what to do these and these notes came from 8 different people. You won't be able to do that without a system like this. And that's why Noster is the future. Noster provides me hope just like Bitcoin is the future and just like Bitcoin provides me hope.
[00:58:50] Unknown:
1 thing is clear. We are at the boundary line between what was and what is, and I will see you on the other side.
[00:59:02] Unknown:
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.
JB55's Twitter Account Deletion
Jack Mallers' No-Fee DCA Announcement
