Share on social media:

Episode 1176 of Bitcoin And . . . is LIVE!

Topics for today:

• Bitcoin on iPhone's iMessage
• Fitness Firm Buys Solana - Tanks
• Beware The New Grafting Companies
• Value 4 Value Deep Dive

Circle P:

GreatGhee
 Product: 100% Pasture-Raised, Grass-Fed, Jersey Cow Ghee sourced and produced in SW Virginia
 Put BitcoinAnd in the order comments section
 https://greatghee.com/
nostr Profile: https://ditto.pub/@[email protected]

Today's Articles:

https://x.com/coryklippsten/status/1971210347299401970


https://www.tftc.io/bitcoins-iphone-moment


https://cointelegraph.com/news/australian-fitness-firm-tanks-21-after-buying-solana


https://decrypt.co/341280/bos-rolls-out-new-protocol-to-put-dormant-institutional-bitcoin-to-work


https://bitcoinmagazine.com/business/botanix-labs-stbtc-bitcoin-yield-from-network-fees


https://finance.yahoo.com/news/capital-group-becomes-largest-metaplanet-120414072.html


https://bitcoinmagazine.com/print/lightning-strikes-future-value-for-value


https://www.theblock.co/post/372315/cipher-mining-google-backed-3-billion-usd-ai-hosting-deal


Get You're Free Comfrey Owner's Manual Here:
https://www.bitcoinandshow.com/the-comfrey-owners-manual-is-here/

Find the Bitcoin And Podcast on every podcast app here:
https://episodes.fm/1438789088

Find me on nostr
npub1vwymuey3u7mf860ndrkw3r7dz30s0srg6tqmhtjzg7umtm6rn5eq2qzugd (npub)
6389be6491e7b693e9f368ece88fcd145f07c068d2c1bbae4247b9b5ef439d32 (Hex)

Twitter:
https://twitter.com/DavidB84567

StackerNews:
stacker.news/NunyaBidness

Podcasting 2.0:
fountain.fm/show/eK5XaSb3UaLRavU3lYrI

Apple Podcasts:
tinyurl.com/unm35bjh

Mastodon:
https://noauthority.social/@NunyaBidness

Support Bitcoin And . . . on Patreon:
patreon.com/BitcoinAndPodcast

Find Lightning Network Channel partners here:
https://t.me/+bj-7w_ePsANlOGEx (Nodestrich)
https://t.me/plebnet (Plebnet)

Music by:
Flutey Funk Kevin MacLeod (incompetech.com)
Licensed under Creative Commons: By Attribution 3.0 License
creativecommons.org/licenses/by/3.0/

[00:00:02] David Bennett:

It is 08:37AM   Pacific Daylight Time. It is the September   2025.   And this is episode   eleven   seventy six of Bitcoin.   And I got all kinds of stuff for you today.   CoinDesk is breaking that Circle is considering   some reversible   USDC   transactions.   Yes.   Yes. In fact, that's we might as well talk about that particular one right now. I mean, why not? This it it so far,   CoinDesk has it as as simply a tweet on x or whatever the hell that we're calling it now. And it it it literally says this, breaking   with a little, you know, police light,   Circle is considering reversible USDC   stablecoin transactions.  

Circle president,   Heath Tarbert,   notes allowing refunds,   in certain cases of fraud,   would help the stablecoin industry's push to become part of the financial mainstream. What are we doing?   What are we doing? Why are we trying to merge with the mainstream financial world?   I can tell you what's going on here.   The people that are heading up companies like Circle   were never Bitcoiners.   They were always mainstream financial   people. They just looked at Bitcoin and the ecosystem around it as a way to grift and graft themselves   into a system that probably rejected them in the first place.  

They desperately wanted to be a Wall Street trader. They desperately wanted to be on the bond desk. They desperately wanted to be attached somehow to oil,   and gas and energy   and futures and commodities and and nobody would have them. So they discover Bitcoin and then they figure out a way   to somehow graft   their particular take on it   into the world that they always wanted to be part of.   That's   what's happening here.   Circle   has never been trustworthy.   Circle,   Jeremy Allaire,   was guy one of the guys that started it.   He's not to be trusted.  

He signed his name to the New York agreement, which was a letter   hell bent on the complete and total annihilation of Bitcoin as we knew it, and that resulted in the block size wars of twenty seventeen. Well, 2016, there was block size wars, but it really culminated in the New York agreement.   And then we had the blow off top in 2017,   and then we had the BC eight split because of it. It is   a part of the Bitcoin history that is   was really traumatic for a lot of us that were in the space at the time.   And   the true colors are now coming out with people like Jeremy Allaire,   Circle,   this   Heath Tarbert guy, which this is the first time I've even heard this this dude's name.  

But reversing   transactions   is   antithetical   to the ecosystem   that circle was birthed out of   because they were never bitcoiners to begin with So now that that's   done, we got some news about   the iPhone   and Bitcoin.   It's not probably what you think, but it's still cool man. It's still really, really cool.   A couple of treasury companies are having some issues.   Not the ones that you think, but, hey. It you know, it is what it is. And then we're gonna be talking about   a protocol   that,   quote, puts dormant   institutional   Bitcoin   to work.  

I honestly   don't believe that this is a good thing. We'll get into that one. We've got some news out of Botanix Labs.   Still, again, probably not the kind of news that we want to hear, but I'm here at Bitcoin and to keep you abreast of what's going on so that you don't have to sit down   and curate a news feed so that you understand what's going on instead of being inundated with, oh, the price prediction this and the price prediction that. No. Because that's all noise.   All of its noise. If you're wondering why the price of Bitcoin is doing what it's doing today, why what's going on?   Futures expiry   coming up, man. It's the same shit every month. Right? It's it this should be no surprise,   which is why all this price talk, it's all noise.  

I try to stay away from it. Sometimes I give you a little bit of price action news, but, honestly, it's more about   what's going on in the industry so that you're not caught off guard.   That's why you're here at Bitcoin. And it's all the news you can use with your host, me, David Bennett. And I'm not gonna be done. I'm gonna get into a lightning strikes,   article from Bitcoin Magazine.   It's   a rather it's a longer read,   but I think it's gonna be worth it because the value for value   future is upon us. And even though I was on I was actually on,   the Bugle podcast,   with Richard Grieser and Rob Palmer.  

I love I love those names.   Last night, I don't know if that episode is dropped yet or or when it's gonna drop. They I I just don't I don't know. But we talked about value for value, whether it was value for value advertising like I do with the circle p,   or just   value for value monetary   revenue models.   They're   coming, but right now it's painful, you know, because   everybody   expects something that, oh, it's innovative. Therefore, everybody's going to adopt it and we're all going to be free. That's not the way this works.   So just   buckle up for that one because I think that's gonna be a great read. And if we have time,   I wanna talk a little bit about a Bitcoin mining company called Cipher.  

But   depending on where we are   time scale wise, that that may not happen. But I wanna begin with Bitcoin's iPhone moment, and that is the title   of   Marty's Bent. And I haven't read a Marty's Bent on the air in well over I don't know. Probably well over a year.   I used to read them all the time on the air, but I didn't want to basically, you know, completely hork, you know, Marty's Marty's stuff.   Even though I did I had asked him permission if I if I could do it, and he was totally fine with it. But, dude, that was, like, 2018, 2019.   So but this one, I think, is is poignant because   I can't grab enough news,   from my normal news feeds   about this particular   development. And I think it's I think it's worthy. So from tftc.io,   we've got Marty's bent   Bitcoin's iPhone moment.  

The team at Macadamia,   a Bitcoin eCash wallet built on the Cash You protocol,   launched a cool feature yesterday.   The ability to send people Bitcoin   via eCash   directly in   Apple's   iMessage.   Yet you were you were probably distracted by the black cat crossing your path while you're going to work or going to lunch, depending on when whatever it is you're list you know?   You you might you might have been distracted   by the weird protests going on down the street. So let me read that shit to you again.   The ability   to send people Bitcoin   via eCash   directly   in Apple's iMessage.  

This is a very slick   UX that makes sending Bitcoin to people literally as easy as sending a text message.   I tested it out with a friend who didn't have a macadamia wallet yesterday,   and they were easily able to download the app and claim the e cash in their wallet within a couple of minutes.   The experience makes me think that this will be a great way to onboard people to Bitcoin   in as straightforward a way as possible.   Send them e cash via the macadamia extension.   They click the link, download the app, quickly connect to a mint, and redeem the Bitcoin   in a couple of seconds.  

From there, they have an e cash wallet that is interoperable   with the lightning network   and other second layers connected via the lightning network and can begin accepting bitcoin rather trivially.   I've said it many times in recent months,   but the broader crypto and TradFi markets are completely missing what is happening on top of Bitcoin right now.   While everyone is focused on Bitcoin treasury companies, stablecoins,   and real world asset tokenization,   Bitcoiners are building the future tech stack of the distributed banking system on top of Bitcoin. And not only that,   the products being built are reaching parity with the user experience of fintech products that hundreds of millions of people have become accustomed to.  

With Bitcoin wallets like Macadamia,   there is no need to understand the concept of gas fees, whether you're bridging an asset between chains,   or different roll up schemes, or whether or not your stablecoin will be compatible   with the wallet of the person who is looking to receive it. It all just works.   You can send eCash from Macadamia   to pay a lightning invoice and it will just work.   And the best part   is that you have way more privacy using e cash than you would on most other networks due to the fact that it leverages   blinded signatures   within a mint.  

The mint operator, while acting as, yes, a centralized custodian,   has no idea   who is sending or receiving eCash tokens within   and out of the mint. It's a beautiful thing.   Pay attention   to these Chami and Mint protocols,   the wallets and markets built on top of them as they continue to progress.   So there it is.   I can we can now,   using macadamia,   leverage the Cashew protocol   to send people money   directly in Apple's iMessage. So I could just text I like, I could literally just text my wife   bitcoin   and   the way that it works on her end when she taps to receive   she's going to be instructed oh you need a wallet here here by the way you you can download this wallet directly to your phone takes you to the Apple iStore or whatever.  

You the app store and you you download it, you you get it set up, boom. You're off to the races. And then the second time that that occurs, it's way easier to navigate.   Right? And it really is   about the user experience   and having that user experience   match   the   already   rote experience   of most of the people on the planet today.   If we can match up those user experiences where there where our user experience with Bitcoin and eCash and Macadamia and Cashew and Lightning   is almost   indistinguishable   from the user experience that most people are already used to, that's how you win.   That really is. That's how you win. And even though it's like, well, shouldn't we blaze our own path?  

Do so   at your own   potential detriment.   Because when you've got that many people who expect a certain kind of user experience,   if you're not matching that user experience or at least trying to,   then you're not going to be hitting   all of the soft spots,   the soft targets   of the massive population.   So it's very important   that we at least respect   what people want. And then there will be other people that say, dude,   Steve Jobs.   He didn't do that.   No. He didn't.   But   because and for those of you who for those of you who don't know,   Steve Jobs used to have this thing that he would say   that people don't know what they want   until we give it to them.  

Yes. And at the time Steve Jobs was saying that, at the time Steve Jobs was heading Apple, at the same time that Steve Jobs   was bringing Apple out of a garage into the business world   and designing user experience because,   again, people didn't know what they wanted.   Now they do know what they want because that was ushering us out of the analog   part of humanity,   and he was the bridge to the digital part of humanity that we now experience.   So for at least   the medium   to long term,   we have a user experience that is well defined.   And if we don't   make pains   or rather take pains to make that user experience   that we want people to we want people to use Bitcoin. If we don't make that experience   match their expectations   that they don't even know that they have,   then we're shooting ourselves in the foot.  

So this is why I'm really happy   about this macadamia   issue and being able to send people e cash that is compatible with the Lightning Network, that is ultimately compatible with Bitcoin   directly as a text message   on your iPhone without any modifications   to your iPhone whatsoever.   I I don't sleep on this. You might wanna test it out for yourself. I'm going to be doing that later on today.   Next up is Australian fitness firm tanks 21%   on their Solana treasury gamble.   You took the gamble   and you lost a quarter of your money. Okay. Well, Tarang Katan has it for Cointelegraph.   Australian   fitness equipment,   let's let's let's really get the context here. It is a company that builds fitness equipment. When you go to Planet Fitness, you might be working on one of their machines. I don't know. I don't know who builds Planet Fitness stuff, but maybe it's Australian fitness equipment maker, Fitfell,   or rather Fitel.  

They fell 21%   on Wednesday after announcing that it had bought more than 46,000   for $10,000,000.   They are listed on Nasdaq,   and the company closed Wednesday Wednesday's trading session at $6.65,   only making a mere increase of 0.15%,   and then closed the after hours   session at six point six six   dollars. Oh, that's the number of the beast according   to Google Finance.   Fittel   is now   at least the fifth company this week that is seemingly disappointed its shareholders with crypto buying.   It's it's fractals all the way down. We were trying to warn people you're gonna be disappointed when you buy that shit coin. And now we're just we've just gone a step function up. And now we're talking about companies and trying to tell companies   your your shareholders are not gonna be happy when you buy this shit coin. And these guys are not.  

And they're not the only ones. Earlier this week, shares of medical device company, Helius Medical Technologies,   dropped   themselves by nearly 34%   after they purchased a $175,000,000   worth of Solana.   In addition,   BNB treasury company, CEA Industries,   Ethereum treasury firm, Bitmind Immersion Technologies, and the largest Bitcoin holder strategy saw their stock price decrease by 19.5%,   10%, and 2.5%   respectively   at the end of Monday's trading session after some recent crypto buys.   So pausing to say that right now,   strategy is not looking good. It's it's just not. In fact, let me pull up TradingView just for a second because they had a an immense drop   this morning. And if I can get them back,   as of this morning, they are down,   5.66%.  

They had a massive tumble.   But if even after their massive tumble, it still doesn't hold a freaking candle   to these shitcoin companies that are thinking that they're going to beat out,   other companies that are holding Bitcoin.   Now that said   that said, let's let's read the rest of this. The   the fitness   or Fittell,   that thereby,   Well, it comes only a day after the company revealed its crypto pivot,   issuing a $100,000,000   of convertible notes   to accumulate   Solana for its treasury.   On Wednesday, it stated that it would use 70% of the net proceeds from each transaction to buy digital currencies   with the remainder being held for its, quote,   crypto   operations   on chain activities   and working capital. Quote,   with committed institutional support, we look forward to expanding our SOL position   in addition to growing staking revenue   that drive long term or and drive long term value for shareholders.  

It's suit speak.   It it just is. And that comes from Fittell CEO Sam Lou.   The company on Tuesday also appointed David Swaney and Callan Sullivan as advisers   who are tasked with optimizing the company's digital asset treasury   through yield   generating models,   assessing   DeFi opportunities   and risks   associated with them. Fittel shares are down 95.69%   for the year   with a significant plunge in February   after analysts called it overvalued   and underperforming.   Meanwhile, Solana Digital Asset Treasuries are growing at a rapid rate with companies like Solmate, Helius,   DeFi Development Corp, and many others adopting Sol   to their respective treasuries.  

And then they go on to talk about a few other companies. But I wanna   zero in on this last part   of this   of the article up above here.   Fittel's   shares are down 95.69%   this year.   A significant plunge in February   after analysts called it overvalued and underperforming.   So what do   what   what's the chain of events here?   Fittel   is a fitness equipment   company.   They build   fitness machines,   maybe treadmills. I don't care. It doesn't matter.   In February,   well   before   they got   into crypto,   analysts   said   that their company was   overvalued   and underperforming.  

Fast forward to   now   when they announced that they are gonna have they're gonna they're they're gonna put soul on their balance sheet. They're going to issue a $100,000,000   of convertible   notes.   This, ladies and gentlemen, is the very anatomy   of the hail Mary,   the last   gasp   of a dying   zombie   company. Expect more of this.   In fact,   expect a lot more of this.   And again, I'm going to reiterate.   These companies,   whether they're buying Bitcoin   or a raft of shitcoins   at the companies right now, the ones that are that are wholly doomed,   that are walking around going brains,   brains,   brains,   the zombies out there,   they're only doing this for one reason and one reason only. They're trying to get as much   of the fad   of buying crypto on their balance sheet   so that they themselves   are bought out and the upper echelons   of those companies,   the the p like the CEOs,   CTOs,   chief operating   the c suite guys   will have a chance to be given directorships,   board memberships,   some kind of paycheck.  

That's what this is about now.   And every zombie company   is just they're hearing the siren song,   and they're coming out of the woodwork.   So just be aware   it's not gonna be pretty.   The but however, I will say this.   The companies that are putting Bitcoin on their balance sheet as the hail Mary,   as the last gasp of the zombie apocalypse,   those guys will probably be bought out.   They they have something of actual value on their balance sheet.   Their their company assets other than that will be completely liquidated.   The company will be eviscerated,   gutted, and sold off to the highest bidder. Any idiot that wants to buy it. Yes. That's true.  

But the Bitcoin itself will just be absorbed into the balance sheet of the buying company because they're gonna be able to get it at either at either spot price or maybe even slightly below   because that would be part of the deal. Hey. Yeah. We'll buy you out. And, hey, mister CEO, COO, and CTO, we'll give you directorships.   You won't get paid as much as you're getting paid now maybe. But   in return,   we're not buying   all   all of this at what you want for it. In fact, we're only looking at the Bitcoin, and we're not going to pay what the spot price is now. We want a discount on that to save your ass, and they will get that deal.   They will get that deal in spades.  

Now onto other things. BOS   rolls out a new protocol to put dormant institutional Bitcoin to work.   Watch out for crap like this, guys. Vince de Aquino writing for Decrypt.   Smart contract operating system,   BOS,   which stands for Bitcoin   OS,   has launched   GRAIL Pro,   a new protocol designed to convert dormant Bitcoin reserves   into productive capital while preserving custody standards.   The grift goes on. Released Thursday in London, GRAILPRO   is   described as an institutional   grade protocol for trustless   bridging   and programmable   tokens   with all processes   verifiable on chain on Bitcoin itself. Oh, well, at least there's that. BOS   developed the protocol after having, quote,   seen the evolution of Bitcoin, end quote, and its continuous growth in interest and adoption among institutions. Co founder and chief executive,   among institutions, cofounder and chief executive,   Eden Iago, told Decrypt. Companies   like strategy are, quote, showing the world that Bitcoin is an institutional grade treasury asset, Iago said, pointing out that the trend for digital asset treasuries   has created stronger demand dynamics.  

Quote, Bitcoin was designed to reward early adopters   and long term holders,   building what institutions   want   and need.   Iago said, oh, okay.   No.   No, Iago.   Bitcoin was not designed to reward   early adopters   and long term holders.   It was designed for something completely different.   It so happens   that early adopters and long term holders are rewarded,   but that was not ever   the design of Bitcoin.   See, and this this is the kind of bullshit that worries me. How did somebody who   that is able to miss something so glaringly obvious as to what Bitcoin's purpose was and is   is able to start a company   and get trustworthy   enough that they can release,   you know, like the these companies,   like like Fittell, like, how do you   how do you lose 96%   of your share price over a   year after analysts call you basically slow and dumb and then be able to issue be trustworthy enough enough to issue a $100,000,000   of convertible notes and have people freaking buy them?  

We live in a clown world of the most epic proportions.   We I don't think we when we say clown world, I don't I really don't think we know just how clownish this world is.   This this is a man at the head of a company that completely misses the point of Bitcoin and states it publicly.   It's a sad, sad   raft of affairs, but the protocol targets   about 6,000,000   Bitcoin worth about $693,000,000,000   held by custodians that largely sits idle over counterparty risk concerns.   These holdings are often kept in digital asset trust and reserve accounts   according to a recent report by Gemini.  

GRAILPRO   is presented as an option to deploy and make use of these massive holdings   in a pilot.   Partners locked BTC   to mint 100   z k BTC,   a Bitcoin backed token verified with zero knowledge proofs, and transferable   one to one with native   Bitcoin.   The process shows how assets could be used in lending, trading, or yield strategies without losing custody.   Unlike earlier bridge models, GRAIL Pro employs a cosigner system that requires institutional   approval for every minting or release requests.   Each request is verified using zero knowledge proofs and must be confirmed by at least 16   independent operators.  

Oh, I love the arbitrary number that makes it sound safe.   Whatever.   BOS claims this structure reduces exposure to fraud and ensures institutions   remain in custody   at all times.   The system also includes support for programmable   financial products, custom vaults, and real time monitoring.   This   is pure crap.   And this is not the last of the crap you're going to see.   Chances are good, as I was reading this, many of you out there   said I I might be stupid because I didn't understand that. No. No. You're not stupid.   It's designed so that you don't understand it.  

The this BOS thing, it's it's purpose built in my opinion.   Okay? So I I guess I gotta say that caveat. In my opinion, in my opinion only,   this is just another grift.   It's designed to to   obfuscate   what the use case actually is.   Alright? Where does the yield come from?   And the the and this whole this whole 16 validators,   I   I know nothing about how how   how that's supposed to make you know, put my mind at ease. How is it validated? And, of course, it's not going to be here. I'm sure there's a plagiarized   white paper out there that probably consists of   18 different paragraphs from 17 different papers that have already been plagiarized   beforehand because that's the way this system works.  

Right? I'm just saying   things are gonna get real murky,   and it's gonna be polluted. The the the murkiness is the pollution of stuff like this.   And now we move on to botanics.   Now is this gonna be any better?   This is out of Bitcoin Magazine, Juan Gault is writing.   Botanics   Labs unveils   STBTC.   Bitcoin yield   from network fees hits 34%   APR.   I'm already skeptical.   I'm already skeptical.   Let's see what Juan Gault has to say. Botanix Labs, a Bitcoin layer two with EVM   capabilities,   recently launched STBTC,   a one to one backed Bitcoin asset that redistributes transaction fees on the network to holders as   yield.  

Users can stake Bitcoin,   I'm even more skeptical now, and earn additional Bitcoin, even more skeptical,   without inflationary token emissions,   points programs,   or mandatory lock ups. Botanics, founded in 2023   by   oh, at Harvard   by Willem Schro   operates as a Bitcoin layer two protocol or side chain similar to the liquid network and root stock.   But with some novel differences including the use of more modern scripting tools in Bitcoin,   the sharing of network fee revenues with stakeholders, and a federation of,   look, 16   node operators.  

Oh, 16 is turning into a magic number for crypto.   A federation of 16 node operators   as its custody foundation.   The mainnet has been live for two months and has processed 10,000,000 transactions with 100%   uptime   for peg ins and peg outs according to Schro.   So where does the yield come from?   The most important question when it comes to any yield bearing product is where does the yield come from? If you can't get an easy answer to that question, then you are the yield.   As the crypto industry matures from the Ponzi like era of FTX, BlockFi, and Celsius, which contributed to the twenty twenty two crash,   new, more stable forms of yield are emerging across the industry.  

Cash App, for example, reported that its earnings over 9%   APR and Lightning Network fees earlier this year,   a yield that can only be earned by facilitating more efficient routing of payments through the Bitcoin network.   Taking a similar conservative approach to yield, Botanix   has set up its new STBTC   token to earn   50%   of all transaction fees paid on the Botanix   network,   paying its stakeholders from the economic success of its ecosystem   and integrations across the industry.   Today,   STBTC   boast a   34%   yearly   annual percentage rate,   though Schro   explained that this is because of an accumulation of undistributed rewards from its prelaunch.  

Oh,   a prelaunch.   He expects the APR on STBTC   to stabilize at around five to 6% in the future. Well, thank god it's at least in single digits.   According to Schro, the STBTC   token contract, which is open source and has been audited by SpearBit and Sigma Prime,   follows the EIP   forty six twenty six standard.   That's an Ethereum improvement protocol, by the way. So   Ethereum is already in the mix.   The s t b t c token should be backed one to one and visible on chain.   Botanix has a step by step guide on how you can verify their proof   of reserves.  

Users can deposit BTC into the Botanix Federation using the Botanix Bridge and claim the equivalent amount of Botanics layer two Bitcoin via an EVM   compatible wallet like MetaMask.   And that's when I stopped reading.   I'm I'm kind of I'm a little miffed that Bitcoin magazine allowed this garbage to be published.   Everything that I have just read to you has made me so skeptical   that I am no longer interested   in this particular development   at all. And honestly, in my opinion, again, neither should you.   You should not be interested in this.   We are seeing   people will say, oh, well, this is just a financialization   of Bitcoin. No, it's not.  

None of this shit makes any sense.   We have what we need already.   All of this   is just   we gotta figure out a way to get people to give us their Bitcoin. How can we obfuscate   the fact that we just want their Bitcoin to steal from them   or at least leverage to our own ends   without them actually knowing what we're doing? That's that's what Botanix   and BOS is.   Bitcoin OS my ass.   At least thank God we're at the Circle P. The Circle P is where I bring plebs that have goods and services to offer   you, other plebs, who might actually want to purchase those goods and services. And you could do it with Bitcoin. And today's Circle P vendor of the day is Great Gi. You can find them at greatghee.com.   That's great ghee, ghee,.com.  

What is ghee?   Dude, it's butter,   only better.   Ghee, which is clarified butter, is made by simmering butter to remove water, milk solids, and impurities,   leaving   behind an oil with a nutty flavor and a very high smoke point about 485   degrees Fahrenheit.   This stuff is freaking awesome.   Alright? I like, I I am out of my great ghee. I I got a a jar of it a while back, and I'm already out of it. We used it   religiously.   If you even approach trying to cook, like, Indian food, you're gonna want ghee. And if you're gonna want ghee, you're gonna want great ghee because it's great ghee and you can get it at greatghee.com,   use Bitcoin and as the coupon code. That alerts Great Ghee that I made the sale for him And then the advertise or the value for value advertising model that is the Circle p,   Great Guy gets to determine   what that sale was worth, and then he will give me Satoshis on the other end for making a sale for him.  

On to Meta Planet.   Oh, joy, you say. Oh, yes. Oh, joy, I say. Because   Capital Group   has now become   the largest Meta Planet shareholder   with 11 and a half percent stake.   I can almost guarantee you that Meta Planet gets completely   bought out by Capital Group.   But   let's let's just read this from Yahoo Finance.   Bhushan   Akolar is writing this one.   Capital Group,   the $2,600,000,000,000   asset manager, no small potatoes here, has become the largest shareholder of Japan's Bitcoin treasury firm, Meta Planet, by adding another 75,000,000   Meta Planet shares.  

The asset manager has doubled its stake in the company, bringing ownership to 11 and a half percent.   This comes as Meta Planet stock has fallen nearly 40% over the past month, so they are indeed buying the dip.   Meta Planet's chief executive officer, Simon Gurovich, confirmed the investment,   highlighting the firm's confidence in the company's long term strategy despite recent market volatility.   Earlier this week, Meta Planet acquired a total of 5,419   BTC.   As a result, the company now holds 25,555   BTC,   all worth around $3,000,000,000   as of current BTC prices.  

I'm telling you   I'm telling you right now,   collapse and consolidation.   The c and c   is what we're coming into.   I'm not suggesting that Meta Planet collapses first. I'm just saying that we're going to see   either one or the other or both on many of these companies.   Now I had kinda thought that Meta Planet would be, you know, would be able to strike out on its own because of its massive Bitcoin holdings.   But now,   come to think of it, since they have shares on the market,   all of these companies that have   an impressive stack of Bitcoin   that are on the market   means that they are ripe   for hostile   takeovers.  

And if not hostile,   then, you know, amicable takeovers   because, you know, capital groups just buying their shares on the open market. And there are many shares to buy   because Meta Planet share price is being is just falling, and it continues to fall no matter how much Bitcoin they put on their balance sheet.   So   expect   collapse   and or consolidation   to continue to occur.   Let's run the numbers.   Futures and commodities   and CNBC   has changed up the order of for whatever reason of their futures and commodities page.   Brent Norsee   is down point 12%   to $69.23.  

West Texas Intermediate,   which is usually what was on top, is down a quarter of a percent to $64.85.   Natural gas is up 1.6%   to $2.90   a thousand.   Gasoline is down point 7% to just over $2 a   a gallon. And Murbaughn crude is down 1.7%   to $70.39   a barrel.   Palladium,   not gold, but palladium is up first. It is up 3.37.   Gold is moving sideways at $37.68   and 6 dimes. Platinum is up 3%. Silver is up almost 2%   to $45   for silver and gold are on a tear. And, let's see here.   Copper is actually down point 75%   today.   However,   something happened with the copper mine in Latin America   that caused the price, I guess, in after hours trading yesterday   to increase the copper price to exorbitant levels.  

I seem to remember   this being described in   Ayn Rand's Atlas Shrugged.   I'm just I'm just saying. Okay. Ag,   mostly in the green today. Biggest loser is chocolate, 2% to the downside.   Biggest winner is coffee, one and a quarter to the upside. Live cattle is down   one and a quarter percent. Lean hogs are up one and a half. Feeder cattle are down 1.76.   The Dow   is everything's in the red in equities right now, probably because, well, end of the month and rebalancing and all that crap.   Dow is down point one six. S and P is down a third. Nasdaq is down a quarter, and the S and P Mini is down over a half.   Bitcoin struggling again today at a $111,480.  

That is a $2,220,000,000,000   market cap. We can only get 29.8   ounces of our favorite metal rock with our one Bitcoin of which there are 19,925,848.04   of.   Average fees per block are low, 0.02   BTC,   taking the fees on a per block basis.   There are about 35 blocks carrying a 120,000   unconfirmed transactions waiting to clear at high priority rates of three sats per v byte. Low priority is gonna get you in at one.   1.08   Zeta hashes per second is the hash rate so far.   Yesterday, it was 1.09,   and now we're at 1.08.   So I'd say   that we are maintaining the Zeta Hash,   hash rate   fairly strongly.  

We'll have to see where that goes.   Now from   Epic Breaking, which was yesterday's episode of Bitcoin and I got Jason High with 500   says, here's a tiny donation to help with the show. Keep up the good work. Appreciate that, Jason.   God's death with $2.30 seven says, thank you, sir. No thank you.   Tulips with one two three four says,   you, sir, let the knots of rightness righteous indignation of our Lord Jesus Christ fall upon Dennis Porter, and it was hilarious.   My take on b hodl is that they will try to actually do something by managing lightning notes   and getting from one to 10% in fees per year. I hope it is good for lightning unless it is all tulips and it goes to zero.  

Such a bright ray of sunshine, tulips is. Pies with a 121   says, thank you, sir. No, thank you.   And   oh. Oh. Here and gone with a 100 says, the rage did a foyer request to find out if this Bitcoin strategic reserve was being worked on and they discovered that it is not being worked on.   Jesus.   These freaking people. Perma nerd with 210   says, pretty sure coffee is the best performing commodity today because of Oshi.   And Oshi's   crunchy coffee huddle butter. That's the way that's the way to promote your brethren right there. Perma nerd,   mean you need to talk about getting you and your products into the circle p. But in the meantime,   might I say,   hats off to   you, sir,   for having the humility   to promote   somebody in the Circle P when you have products yourself that you could be promoting.  

Dude, that's the kind of attitude   that the Circle p wants. I'm just just saying.   Alright. Let's see. And, Turkey, I think, got in late yesterday with 500 sats from ripped plastic money, but he doesn't say anything. So that's the weather report.   Welcome to part two of the news that you can use.   Lightning strikes.   The value for value future of money and work   from Ivan   MechaDonski,   Bitcoin Magazine.   Let's see what this big read has.   When someone holds your funds,   these days, everyone recognizes the inherent risk.   The custodian might misuse the money or fail to safeguard it properly   since it isn't theirs.  

But here's the flip side, delaying a payment carries just as much danger.   When payments stall, the economy slows, productivity   dips, and the benefits for everyone diminish.   It's like plaque building up in arteries. You can still function, but friction drags down the entire system.   If the arteries clog so much that blood can't flow,   the patient dies.   The same applies to today's banking system.   The instant a bank halts all payments, it's a flat line on the heart monitor.   Unless they jolt the system with a financial defibrillator   to unclog these monetary arteries,   that bank, even if it holds funds,   will collapse   fast.  

Centralization   isn't just a banking problem. It's baked into how Bitcoin's   own advocates operate, and I've got a beef with that.   Most Bitcoin podcasts aim to orange pill listeners   and are pure gold.   That term will lose its value on a Bitcoin standard   for anyone   seeking the signal.   I wouldn't be here without them. Yet, they preach theory on fiat platforms   where you're dodging ad interruptions that worsen as the platforms grow,   mimicking the social media they critique. You're the product, advertisers   the clients,   just with a few labels, like channels, subscribers, and sponsors.  

Hypocrisy aside, this fiat setup setup fuel centralization   and influencers   unintentionally   help it along.   Why are almost none experimenting with Nostr, a prime lightning network use case?   I urged one channel to try it, but they ignored me. Until YouTube axed them for a bullshit reason and within twenty four hours, they set up on Nostr and saw its power firsthand.   When a sponsor signs on, they often demand exclusivity   for their product or service type.   That's the first choke hold.   Your selection isn't shaped by a free market, but by whoever pays up.   Listeners miss out on other options, and the winner isn't the best product.  

It's the one that locked in early with the podcast before it blew up.   Now that these channels are big,   well, sponsors won't bother with smaller podcasters.   The larger the channel grows,   the more they plug their sponsors, driving more sales, which funnels more ad cash their way. As both balloon,   natural censorship   creeps in.   Exclusive contracts that edge out competing products.   That's not just centralizing the product market, they're consolidating the podcasting scene itself.   Successful companies chase bigger subscriber counts, raising the bar for new podcasters.   That target keeps drifting further out of reach each year.  

All this unfolds on three or four centralized fiat platforms,   already   walled gardens where no newcomer can break in unless they're so unbearable   that an alternative emerges. Oh, wait. Nostr could be that alternative.   But these podcasters   won't invest a shred of time to experiment with it or try to shift their audience over.   You need an alternative.   Enter   the lightning network.   Whenever you take a step toward a goal,   your reward doesn't come later.   It settles instantly.   The universe balances itself in real time and the lightning network mirrors this dynamic. It can be achieved technically on a third layer built atop lightning, but let's not get bogged down in details.   Lightning is the key that makes it all work.  

What does the lightning network enable that makes the difference from the current financial system? And why doesn't the same problem occur there?   The key difference lies in its foundation.   Lightning isn't built on fictional units like debt. In fiat payment systems, your deposits don't generate credit.   Credit creates your deposits.   This means that when issues arise with tangible assets, the system can be manipulated   through its fictional base,   which relies solely on people's belief in it.   Debt is disconnected from reality and relies on faith alone.   In Bitcoin's Lightning Network, that structure flips. Here,   real units backed by actual energy form the bedrock.  

If fictional units sneak in, say, from a bad actor, they sit atop this unmovable foundation.   When a problem hits Bitcoin's system, it purges those fake units, fleshing out cheaters.   Should this happen in lightning, a bundle of channels will get closed.   Just like a healthy body with a clogged vein or artery, the system reroutes,   forging new pathways for blood to flow.   Lightning behaves the same way. If one channel gets blocked, the network adapts by opening new ones or rerouting the flow for you.   There's one key twist in this analogy.   Unlike the body where the heart acts as your central pump,   the Lightning network has no single entity driving it, meaning no single failure can collapse the system.  

The closest equivalent might be a custodial Lightning solution, but even they are spread across multiple apps and companies, and their numbers are growing.   If one goes under, the network doesn't falter. It detoxifies   itself by purging the bad actor and keeps on running.   New channels spring up to meet the fresh demand.   This is Lightning's version of the difficulty adjustment.   When one app gets blocked or fails, the others grow more profitable stepping in to fill the gap, whether it's specific   use case or a specific region, which ensures the system adapts and thrives.   Despite its drawbacks,   Lightning is already carving out a critical role in the ecosystem.  

Whether you're a company or an individual,   you will receive value for value payments in some form via Lightning.   All the networks addressing the shortcomings of Bitcoin's time chain and Lightning itself will link up through it. As my mentor Roy Sheinfeld put it, Lightning is the common language we all speak in Bitcoin.   Be it custodial solutions like Cashew, Federations like Fedimint or Ark, or others yet,   each tackles a specific use case valuable to you or certain groups.   But connecting directly via the time chain isn't efficient.   And for some,   it's likely unusable.  

Imagine you're paying from a Cashew wallet to a Fedimint wallet waiting ten minutes for a first layer confirmation   and the congestion that would pile up.   Lightning already bridges that gap for you.   Any network skipping Lightning integration at this stage   is likely to doom itself to a swift demise   before it even takes flight.   It's a core tool.   One very important point.   Lightning is Bitcoin.   It's not a token   pegged to Bitcoin's unit of account. It's an integral part of the system, not a parallel   offshoot.   All other potential edge networks will need to tie into it because relying solely on the time chain would clog the system and jack up fees unnecessarily.   Yet, even if fees do spike, that's just another nudge pushing you to figure out lightning.  

Unlike the fiat world, Bitcoin operates as a free market.   It's voluntary,   and everyone faces the economic fallout of their choices.   Think of it like the laws of physics.   The world doesn't care if you grasp them.   Misstep and you feel the sting, just like with the Lightning Network,   also known as Bitcoin itself.   This freedom enables new tools like split payments, which is another game changer.   Lightning enables split payments, and that's bad news for decentralized   blockchain crowds.   Most are not decentralized   at all. But my point is sharper.  

The Lightning Network   doesn't just steal their speed advantage.   It dismantles   buzzword promises like DeFi and DAO.   I won't dwell on their flaws. Let's focus on what they claim to you.   They promise   finance will spread out in a decentralized way with organizations that aren't single entities but distributed networks.   But how can you build anything decentralized   on a centralized blockchain?   Split payments turn that from theory to practice for you. With split payments,   funds hit everyone instantly,   divvied up based on the work they've done.   You do not wait for someone to pass the money to you, and no one games the system by printing extra digits in the process.  

Now let's merge these two features,   instant settlement   and split payments,   and explore the possibilities for you.   Instant settlement means your work is no longer tied to time based salaries. You complete a task, you get paid. You don't, you won't.   Make that payment a split one and everyone   or every entity   involved in that job gets their share automatically   all in one seamless   atomic transaction   from the buyer.   Here's why this matters to you.   Split payments are the technical glue that aligns all collaborating parties around you. Just as fiat denominated prices   sync everyone to drive Bitcoin's value upward,   Lightning's   split payments unite everyone involved in a transaction to deliver the product or service.  

If my effort boosts sales, you benefit.   If you ramp up sales, I win too.   This isn't some theoretical   sketch. It's it's practical, unlike Amazon or any brick and mortar retailer you might deal with now.   When I buy an audiobook online with Fiat, I'm hit with hefty payment processing fees   funneled to a handful of monopolists.   Then you, the author, get a report from Amazon about those sales. How do you know that the report is not altered?   Worse,   Amazon doesn't pay you instantly for each book. So the money doesn't reach you when the reader pays.   You can't verify what you're owed, and you're stuck with higher fees on what finally trickles through.  

With the Lightning Network,   your experience is completely different. When a reader buys an audiobook,   Lightning can instantly distribute the payment to the platform,   author,   narrator, editor, and mastering engineer   anywhere in the world simultaneously   without any currency conversion needed.   Why isn't this a thing yet?   Simple.   No one has built it   yet.   The tech exists today. It's just waiting for someone to craft the experience. Now,   picture that exact same process applied to any product or service that you use.   And not just products.  

Value can stream, too.   What other streaming value services   do I mean besides video? Well, any continuous flow of value can trigger a payment stream in return.   Picture the electricity humming into your home.   You can stream payments to everyone who keeps it flowing to you.   Anything tied to that power, like massage chairs, arcade games, or even your rent,   could run on a streaming model as well.   Transportation's   another fit.   Pay per meter. Unlike in taxis that calculate distance and settle up at the end of the ride,   with streaming, you pay and settle per meter distance.  

Paid and settled in real time.   Lightning's versatility   extends beyond streaming to media, and then unlocks pretty cool experiences.   Thanks to split payments,   sponsors won't shell out for views. They'll pay a commission per sale.   Imagine this.   A sponsor strikes a deal with a podcaster,   agreeing to send 10%,   just an example,   of each product sale directly to the channel via split payment.   The sponsor's marketing budget, zero.   No upfront cost. No cash wasted on bot pumped views or hollow metrics.   With no financial risk, they can approach any podcaster,   big or small, and hand them a QR code or link that routes the 10% commission.  

A podcaster with five followers could make five sales netting five payments.   Zero barriers to entry mean funds flow freely,   decentralizing   podcasters'   access to revenue   and shattering the stranglehold   of a few big players   on sponsorships.   Flip it to the podcaster's side.   They're no longer shackled to companies with deep pockets.   In a split payment setup, the consumer foots the bill so podcasters can pitch any product,   even competing ones, and tailor choices to their audience,   the ones they actually should care about.   Even if they don't want to prioritize   listeners, they'll have to.  

The audience   remains   the client,   not the product.   Bite the hand that feeds them and those listeners will stop buying recommendations.   Plus, podcasters can ditch any product, anytime, for any reason.   They gain real freedom to choose what they promote, or rather,   sell.   This decentralized   product advertising,   letting the market sort out the best options, not just the ones that muscled into the marketing game early, which is the case today.   Some are trying to get out of this already.   There's a solid example of podcasters using lightning,   value for value.  

It's not fiat.   It's pure lightning, and I'm all for it.   But it's a charity model, so I doubt it's long term sustainability.   Only top creators can live off of it.   Still, it's a sweet bonus to the model that I foresee for the future.   In today's system, donating to creators means absurd fees and little anonymity.   The Lightning Network sidesteps that, and value for value is a nice cherry on top.   So what does this mean for people?   For the lazy clock milkers among you, it's a nightmare.   Take government workers at any national agency as the perfect example. Whenever I need to fill out a form for some bureaucratic permission, the staff behind the counter are total sloths.   I can see it etched on their faces every time I step up to the window.  

Do not make me work.   Imagine   if they were paid per processed form.   With lightning, that future might just arrive.   Beyond that, this sparks a competitive environment.   Not only are you paid for the work you do, but the person delivering 10 times better results than their colleague will earn 10 times more.   The gap in performance will mirror their SATs income. In today's system,   that high achiever   is the sucker, busting their tail for the same paycheck as the slacker at the end at the end of the month.   This shift is yet another ripple effect lightning will unleash.   With competition   now directly   tied to work done,   lightning payments pull us back to nature's roots. The universe doesn't reward   sloth.  

No species sits idle and rakes in resources.   Entropy acts as the enforcer there. Organisms that don't work hard enough to sustain themselves   vanish.   The same logic applies to a pay for work system.   Entropy   becomes the forcing function driving you not to just perform,   but to outpace your colleagues for the finite sats in Bitcoin's ecosystem.   Slack   off, and you'll economically starve,   left to build a fully autonomous life without human interaction.   Good luck pulling that off.   If you want to engage with others,   money is the simplest way   to coordinate activities.  

Using the best money lets you outshine networks that don't.   Just paying for work and enabling split payments isn't enough.   All currencies   and their payment systems are locked in the same race.   Some networks   have already starved and hits themselves to stronger ones. But Bitcoin   Bitcoin is outpacing them all.   When you are using Lightning Network payments,   you will reap three rewards. First, you will earn for the work that you do, value for value.   Technically possible elsewhere, but practically a pipe dream if you were a company employee.   Second,   doing the work honed your skills, unlike time based pay networks where your skills erode while watching the clock for a paycheck.  

Third, your purchasing power grows by tapping into a money network that outperforms   every rival.   In fiat, you're guaranteed to lose value.   And in other blockchains, you're sidetracked   into trading instead of working.   Over time,   Lightning will be the default and possibly the only choice to be competitive in the market.   By reaping these three benefits, people who stick with it for years will grow tighter knit within Bitcoin's social network, finding it   increasingly effortless   to get paid for their work.   Over time, their skills will sharpen,   making them even more sought after for jobs. Plus, saving in Bitcoin frees them up to pursue   whatever they want next,   unburdened   by financial constraints.  

It's time to stop preaching about Bitcoin,   waiting for the price to climb on its own, and start crafting experiences   that sidestep Fiat entirely,   price be damned.   It'll take serious effort, no doubt. But what system are you fighting for?   Taking up Bitcoin is a losing battle or rather talking, sorry, talking   up Bitcoin is a losing battle. Anyone can lob counterarguments.   Delivering a tangible experience, though, that's undeniable.   Building it on the Lightning Network can make it leagues better than Fiat payment rails, so you won't even need to persuade people to switch.   They'll feel the difference.  

It's on us, though.   Do you care enough to help free people into a new cooperative system,   Or are you just   out to stack the most Bitcoin in your hardware wallet, happy to leave everyone else with a fiat experience?   Every choice we make counts.   But crafting those experiences on this new system is the surest way to shift others' behavior,   bringing them along for the ride. That's the best you can do for the network.   We can't just kick back, listen to podcasts, buy Bitcoin, and wait for game theory to unfold.   That won't happen   unless we build solutions. Not every Bitcoin idea will pan out.  

That's the free and open market doing its job.   But if we don't design experiences for this new system, we'll just end up with digital gold two point o, ripe for capture.   The best way to deliver   those solutions   and shield against that fate   is to build on lightning.   It's the engine for a parallel economy, so pick a side. Fuel its growth or let the fiat lord strangle its flow by limiting it to the first layer only.   The promise of Bitcoin to free individuals financially does not happen by itself.   This freedom demands action. Will you answer   the call?  

Well,   to push back a little bit on this piece, and I I like this piece, don't get me wrong. People are building that. We just talked about macadamia   and allowing people to receive Bitcoin   via Cashew,   via Lightning,   directly from a text message   on the standard   Apple iPhone   iMessage.   You don't even have to get a specific chat app or messaging app to be able to do that.   Now that said, and I can't remember who said this,   I I think it was Cali.   Had a note, it was either on Twitter. I'm pretty sure it was actually on Noster though, although he probably cross posted.   Cali is one of the one of the, developers of BitChat. He's the, Android Android BitChat guy and also is, as far as I know, knee deep into eCash.  

He said something yesterday   that I almost wrote him back because I was kinda miffed at what he said, and I don't necessarily have it in front of me. So I've essentially got to paraphrase it.   But he made he was basically saying sort of the same thing that this guy's saying.   We're doing the world and all those people that are enslaved by the fiat system a disservice   by just buying Bitcoin.   And he's he said it more way more eloquently than that, and it had a lot more   sub tone to it.   But   what I was what I why I wanted to push back on that   was for this particular reason.  

But we we we we have been working to get user experience   out there.   It's not like nobody's doing anything.   And Cali himself has done a a lot of heavy lifting,   but other people have been doing heavy lifting too.   It can't only be us.   It cannot only be us.   We have to say, look,   we've got to shoulder the blame with at least one other party.   Who am I talking about?   The no coiners   who absolutely   refuse   to even look at this stuff.   I remember years ago,   I was still living in Lubbock, Texas.   I did I didn't even have this podcast yet.   I was new into Bitcoin, and I think it was 2017,   somewhere around there, that I told a friend of mine,   a long time friend, like, we're talking like high school friend.  

And I hung out with him all the way through, you know, with these guys all the way through college. And even even beyond that, I mean, we, you know, have remained very, very good friends.   And I told him in 2017,   I go, oh, you know, something about Bitcoin. I go, you should at least look at it. And he goes, no. I'm not even gonna touch it.   And and it was and it was said   with the tone   of disdain.   How on earth   what what can I possibly craft this person? And I'm I'm not saying that, hey. We need to give up. I'm not say I'm not saying that.   I am saying,   how is this my fault?  

That I did did I not push hard enough?   Did I not learn how to code before AI so that I could sit down and and reach into the depths of my mind and pull out the most   fire and lit as fuck user experience anybody's ever created and then give it to this guy and say, look at it now.   Look at it through the lens of this user experience.   Is it my fault that I didn't do that? No. It's not my   fault. Right? And I'm not trying to I'm not trying to say that nothing is our fault, and I'm not trying to say that it's all it's all the fault of the normies. That's not what I'm getting at. I'm saying that there's there's only,   well, it goes back to the old saying,   you can lead a horse to water,   but you cannot make him drink.  

That's up to the horse.   And so why would the horse drink or not drink?   If the horse is dehydrated like, you know, out the wazoo, the horse is gonna drink. The horse is like, oh, thank God you led me to water. Right?   But a horse   that you think is dehydrated   or or rather is   just fine right now.   But you know where you've gotta go next. You've gotta ride this horse another   20 miles   before the next watering hole. And you really need this horse to drink.   Because you   know that that horse may not make it. And, no, I'm not I'm not I'm not   an equine specialist. I don't ride horses. So I have no idea how long it would take a horse to dehydrate.  

Could be longer than 20 miles. Just whatever the distance between these two watering holes is   that the cowboy knows that if the horse doesn't drink at this watering hole, they're gonna have serious fucking problems before they hit the next watering hole. And you're trying to get the horse to take on extra water, but the horse is like, I don't know where the next watering hole is. I've never been out here before.   I don't know what the hell is going on. I don't feel like I need to drink. In fact, I need to go over here and take a piss.   You have no control over that horse.  

All you've done is say, here's water.   I literally know what the future holds, and you better drink it.   That doesn't do anything.   Because the horse   is saddled   pardon the pun   by the horse's own knowledge   and as we know   the knowledge that the masses have about what's going on in the financial world and what has actually occurred over at least the last one hundred years   is so minuscule   that there's no way that they could understand   that their next watering hole is so far away that they could literally die before they get there. We are at that point.   So the call to action is this.  

We continue doing what we always do,   and we never stop.   We will be able to capture   every once in a while some people.   Some of those people will fall out later on.   Some will fall down the rabbit hole.   Others will be caught in the rabbit hole's event horizon, and those are the people that actually are looking just directly at user experience.   And that the user experience   agrees with them. The user experience is something they recognize.   The user experience   that we give them   is something that they caught into,   and that's all it takes.  

I don't need them to fall down the rabbit hole. I don't need them to become developers.   It's nice that some will   and some do,   but it's not necessary, at least not right now, not in the short to medium term.   I just need people using Bitcoin.   That boils down to user experience, and we've kinda that's kinda been the theme   for today's show,   is the user experience.   Now,   the other thing that I really like about this article is   he really talks about   the experience of podcasters   versus value for value   and advertising   with sponsors.  

Now, here's the thing. It talks about, well, they're gonna want you like if I were to get, I don't know, I'm not even gonna say say a name, But some hardware wallet manufacturer,   decides to like, I put out a letter, to say, look, man, you know, I've got a decent audience. I've been here forever. I really like doing this. I I could I could use some support, and I don't mind advertising for other people. I really don't.   But   the suggestion is is that, well, they're gonna want exclusivity.   They may.   They they may. They might.   But I don't actually have a problem with that.  

Unless   the exclusivity   comes from a company that was the last on my list for choice to be able to advertise with. There are actually   several companies that I would love to sponsor the Bitcoin and podcast. They are all 100% Bitcoin companies.   I may not be big enough for them to actually give a shit.   Don't no matter what my audience is, no matter how long I've been here, no matter about the fact that I'm solid Bitcoin or it may not matter because they may be looking at other metrics. But let's say let's say that some do.   Why would I want to undercut   a deal with a company that I went after   and respect   because they're 100% Bitcoin and they've never faltered.  

And then, you know, say, well, I'm pissed because I'm unable to run an ad for your competitor.   Unless that   of course, unless that competitor is another solid Bitcoin company. But   in the same space,   like, if it was, if it was, like, hardware wallets,   cold card, solid Bitcoiner,   all the, like, all the other ones, not all, but most of the other ones that you that names you recognize, like Ledger and Trezor,   they're shitcoiners.   I have no fucking   will at all to even reach out to those guys. I will never send them a letter saying, hey. Would you like to sponsor Bitcoin in? But I would send Coldcard. I would send the guys over at CoinKite.   And if if for whatever reason, CoinKite says, yes, we'll sponsor you.  

I have no reason   to put a shitcoin   competitor   as a hardware wallet   against   something like CoinKite as an as a secondary advertiser.   I wouldn't wanna do that. I don't even do that in the circle p, which is value for value advertising model only.   I can put whoever the hell I want in there. Hell, the people that are in there now, I never even really asked their permission.   I just started advertising for them. Yeah. Just because it just felt like the right thing to do.   It's a tear it is a terrible revenue model,   but that's okay.  

Because, again,   just as I always say, what is your definition of wealth?   I have to also say, what is your definition of revenue?   If it's only cash,   you may be missing out. It doesn't mean that you should eschew cash because you gotta pay bills, you gotta eat, You gotta buy new shoes for the kids.   But even in the circle p, I don't run somebody like like, for instance, great g,   he was first in.   I'm not gonna run somebody else's g   as a as a competing ad because   I have a loyalty   to great ghee.   Right? The same thing with Oshie.   I'm I'm not going to run a competitive   advertisement   against   Oshi and and Huddle butter and the and and Huddle bars. I'm not gonna do it because I like his product.  

I like him in the circle p.   Right? So from that standpoint,   I'm not so sure about this exclusivity thing being all that important.   But what is really important about this piece   is that, well,   he's not wrong about what's happened to podcasting   in this space.   I'm not gonna lie. This is a shitty revenue   model, whether it's the circle p as a sub revenue model or me just trying to exist solely on value for value   because nobody has any money right now.   No. I mean, I I I do the work.   I I keep thinking   that   one of these days,   you know, one of these days, I'll break into, like, you know, another echelon of of the podcasting audience and and get a bigger piece of the pie and that that will spread out   donations to a new set of people instead of relying on the listener base that I have right now. But it just just doesn't seem to happen, which is okay. That's my choice. Right? I love doing this.  

It's important to me to be able to curate,   you know,   actual news   against complete bullshit.   And also those two against   it may be bullshit,   but it's important to know about because it could come to bite you in the ass even if you are not taking part of things like BOS or Bostitch or whatever the the whatever those other companies that I was talking about today that I was giving them the the, you know, swift kick in the ass.   That that could affect you.   Just like BlockFi affected a lot of people that had nothing to do with BlockFi   because their collapse   added   on to the relative   malaise that we saw   with the bear market in 2022.  

So they affected you whether you liked it or not. At least, if you listened to the Bitcoin and podcast, you might have known that that might have been coming. Because as it as it started getting kinda ugly,   I was saying, oh, shit.   We might wanna take a second look at this. And it wasn't at first. Like, I like, I thought FTX was great when it first started.   Now that I'm older, now that I've seen bullshit, this is why I look at companies. This is why I look at long tail treasury companies   coming in late to the game saying, watch out, man. Watch   out. But he's right.  

Most of the advertisers   that are actually going to advertise   with podcasters   kind of they've kind of already got the market sewn up. Right? So even though that I've been doing it since 2018,   it's not all there's just not a whole lot of breadcrumbs out there. So it really does boil down to value for value advertising for people like me, but not for the reasons that this article was saying.   For some of the reasons, yes, but not for most of them.   Still doesn't make this piece any less important than it is. This is an important piece. It's an important way to look at lightning.   But   we should also make sure that we do not   quit looking   at macadamia,   Cashew protocol,   Fediments,   eCash,   all of that because it's all   applicable   directly with and can basically be transformed into and out of the Lightning Network, which can be transformed into and out of   layer one Bitcoin.  

This is all critical.   And going back to the theme of the day,   it's all about user experience.   How easy can you make it?   How do you not make people think?   That was that was that's like the title of a book, and I can't remember who wrote it. Don't make me think. And it was about creating good user experiences and how to do it.   While it is up to us   it's also going to be   up to normies   to come and meet us at least halfway   Doesn't mean we stop if they don't.   We we will always have to work on this.   But to lay the blame squarely on the shoulders of nothing but Bitcoiners because we haven't, quote, done enough,   I don't   think is very constructive.  

So,   what   outside of user experience here's the question that I will leave you with   outside of people that know how to build user experiences   what can the rest of us do?   Not coding,   not designing, you know, UX, not designing UI   what else is there that reaches normies?   Podcasting is one. That's why I continue to do this podcast   which is why I also rely on you guys to spread the word about the podcast   five star reviews on Apple five star reviews anywhere that you're listening to this podcast. If it's got a if it's got the ability to rate a podcast,   then rate me on that,   rate me on that podcast platform,   you know, on Spotify,   on wherever. I mean, because I'm everywhere.  

I mean, once you got the RSS feed, you know, if you if you if you've done it in at least a couple of places the correct way,   you're everywhere.   I am everywhere. I'm this podcast is listened to in a 164   countries.   And that's not hyperbole. That's that's actually coming out of metrics.   I know that this is true. I I even I'm going a 164   countries. That's that's most of the globe.   You know? Yeah. So so   having a larger audience,   you know, helps us all.   But   some of us just we're not the greatest of marketers. We didn't go to school for marketing.   So we depend on each other to help us market each other. You know? That's   the that's the way that I try to help. That's why Circle p exists.  

You know? That's why I will boost, you know,   I will do boost Daniel,   Prince's,   once bitten podcast.   That's why I do it.   We both both of us need help. Right? How do we help each other?   That's how we reach more normies.   Amazingly enough,   we help each other inside this circle.   That circle of influence actually grows. It's almost like a self inflating   balloon.   How else   can we   drag normies   to the water hole?   Because the next one is a long way away.   I don't want them dying trying to get there.   I'll see you on the other side.   This has been Bitcoin and and I'm your host, David Bennett. I hope you enjoyed today's episode and hope to see you again real soon.  

Have   a   great   day.