Join me today for Episode 882 of Bitcoin And . . .
Topics for today:
- BTC++ is Coming Soon™
- Australian BTC ETF is Coming
- Paraguay to Ban Mining?
- Jobs Report is a Lie
- eCash Hackday This Summer
#Bitcoin #BitcoinAnd
Circle P:
https://primal.net/p/npub172mu27r5yny0nnmvgjqwhx055dmsesrrx7j0p5d3pxagfx6xgxfsv75p3q
nostr handle: @beisnerds
Twitter: @beisnerds
Product: Maple Syrup and Soaps
1 qt. $27
3 qt. $68
1 half gal $45
2 half gal. $80
4 pt. $50
"**Step into the Circle P Economy, where Bitcoin fuels artisanal mastery!**"
Articles:
https://btcplusplus.dev/conf/atx24?ref=stackernews
https://bitcoinmagazine.com/business/first-spot-bitcoin-etf-australia-this-summer
https://cointelegraph.com/news/blackrock-updates-btc-etf-adds-5-wall-street-firms
https://decrypt.co/224880/bitcoin-mining-ban-paraguay-power-grid
- https://www.cnbc.com/futures-and-commodities/
- https://www.cnbc.com/bonds/
- https://dashboard.clarkmoody.com/
- https://mempool.space/
- https://fountain.fm/show/eK5XaSb3UaLRavU3lYrI
https://www.coindesk.com/business/2024/04/05/us-added-303k-jobs-in-march-outpacing-expectations-for-200k/
https://www.nobsbitcoin.com/unleashed-chat-0-1-19/
https://www.nobsbitcoin.com/payperq-ai/
https://www.nobsbitcoin.com/ecash-hackday-v2-to-take-place-in-berlin-on-june-20-21/
https://www.nobsbitcoin.com/ndk-v2-7/
https://www.nobsbitcoin.com/bitcoin-keeper-v1-2-1/
Find the Bitcoin And Podcast on every podcast app here:
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6389be6491e7b693e9f368ece88fcd145f07c068d2c1bbae4247b9b5ef439d32 (Hex)
Twitter:
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stacker.news/NunyaBidness
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Music by:
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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 Ant, a podcast where I try to find the edge effect between the worlds of Bitcoin, gaming, permaculture, casting, and education to gain a better understanding of all. Edge effect is a concept from ecology describing a greater diversity of life where the edges of two systems overlap. While species from either system can be found at the edge, it is important to note there are species in the overlap that exist in neither system. And that is what I seek to uncover. So join me in discovering the variety of things being created as Bitcoin rubs up against other systems. It's 10:30 AM Pacific Daylight Time. It is the 5th day of god. What?
April 2024. God. This year is just flying by, guys. This is episode 882 of Bitcoin and a huge shout out to Yegro and Haldemand who are in the zap.stream audience, and they're zapping me. Thank you. I appreciate that. I had to put up a new goal for a Shure SM7B microphone so that I can, you know, step step things up considering that I've already met goal for the Rodecaster Pro 2, and that was all of you guys. That was that was that was all of you guys. Y'all bought me that thing. It's amazing. I'm just saving saving the zaps, saving the sats, save, save, save, save, save. And all of a sudden, I turn around a couple of nights ago, and I'm like, holy shit. I got enough money to actually buy that thing. So, anyway, I've had to, set up a new goal, and that goal in the Zap dot Stream is for a Shure SM 7 B microphone.
Now the circle p is open for business. Circle p is where I bring plebs like you to plebs like you and their goods and services. And today is gonna be maple trade, and we will hear from maple trade during the appreciation part of the show where I read the boostagrams. He's got he's got some news. But before I do that have you tried his maple syrup? Have you tried it? Because you better get on it it's going fast. We'll find out again we'll find out more later. The maple syrup is going fast. He makes it by hand. It takes him a long time to do it. It probably takes him longer to do it than it takes him to actually sell it, according to what he's told me. But, in either event, you can get a quart of his handmade maple syrup for $27, 3 quarts for 68, a half gallon for 45, a full gallon for $80, and a pint or 4 pints for $50.
He does take Bitcoin for his maple syrup and his sister Sarah's soaps. If you want some good beef tallow soap, you're going to hit up Maple Trade as well because he's selling it for his sister. In either event, if he wasn't taking Bitcoin for goods and services offered, he wouldn't be in the Circle P. That's the whole point of the Circle P is to start up circular economies for plebs. That's why it's called the circle P. Anyway, just go get his maple syrup. Trust me. I've had it. It's delicious. It's it's amazing to cook with. If you order his cooking syrup because he's still I think he still has that grade. He's got a couple of different grades. If you get the cooking syrup, right, it's it's a way stronger maple flavor than anything else that you'll ever find. It's great on, salmon. If you're gonna bake some salmon, glaze, some maple syrup on it and like build those glaze layers up in the while it's cooking in the oven and holy crap man it's it's amazing it's amazing especially with some dill sprinkled on it. Alright, alright, I think that that is enough for the circle p, but I'm not done with the shill fest. No. Not by a long shot. Bitcoin plus plus is script happy.
That is Bitcoin plus plus They are going to have a event in Austin this coming spring. They're going to dive deep into all things Bitcoin script. It's going to be at the Palmer Events Center from May 1st through the 4th in Austin, Texas. And if I remember right, Palmer Events Center is actually on Lake Austin, on the shores of Lake Austin, and you get a really great view of the Austin City skyline. I was looking at pictures of Austin the other day, actually last night, because it's on it. Well, here. Hold on. For the guys over there in zap.stream, here. Take a look at Austin.
See? Look at that. Look how pretty that shit is. Now I used to live in Austin and I didn't much enjoy living there, but I gotta tell you it is a great place to visit. Yeah, it's got a the buildings for downtown easily identifiable. It's easily identifiable. I mean that you go to some cities and you know, it's like, There's just no there's just no panache to it, right? You go to Austin, dude, you You know, you know, you're someplace special Anyway, the conference is going to be at the Palmer Event Center is on Lake Lady Bird or well whatever they whatever they call it, Lake LBJ or is it Lake LBJ?
Or Lady Bird Lake? I can't remember. Towne Lake is what I always heard about it but it's got like I don't know 4 4 different names. Anyway, the Palmer Event Center May 1st through 4th. If you want to go do some Bitcoin scripting stuff with the guys over at Bitcoin plus plus this is this is where you can go get it. And it looks like you can of course you can pay with Bitcoin. It's $399 for the ticket for the 4 day all conference pass. If you want to pay with fiat, they're charging you $449. So you're getting a discount. Actually, you're not getting a discount when you pay with Bitcoin. We got to flip that script. What you're doing is you're paying the actual price with Bitcoin.
You're gonna pay a premium if you want to use your crappy dirty nasty fiat that represents almost everything that's bad with the world for the last, oh, 2000 years, something like that. Just just saying. Anyway, here I'll we're gonna put this oh, who who Who's gonna be there? Here's here's all the people that are gonna be there. Holy smokes. It looks like a Stratosopher, Halseth, Christian Lou, Rob Hamilton. Rusty Russell's gonna be there. Supertestnet's gonna be there. Oh, man. That's gonna be awesome. Brandon Black or Reardon Code. He was actually on a Citadel dispatch, I think, not too long ago.
Lakshya Singh, Marco I cannot pronounce that name. Plebhash, Barack, Salvatore. There's a whole lot of people on here. Nifty knee is gonna be there. Who else is here that I could Ben DeCarmen, clearly, is gonna be there. And some dude named Ken Sedgwick. And I don't know who that is, but I'm sure he's there for a good reason. It's probably gonna be worth it. I'm not going to be able to attend because Austin, while it used to be just a simple drive for me when I was living in Texas, no longer the case. No longer the case. Anyway, so there we go. There's that. I'll just I'll just gonna leave that up here. Where we at? Okay.
On to the news. Bitcoin Magazine, Vivek Sin. The first Australian spot Bitcoin ETF could launch in the middle of this year. Australian asset manager Monochrome plans to launch the nation's 1st spot Bitcoin exchange traded fund that holds physical bitcoin. Monochrome filed an application with the securities exchange Cboe in Australia to list its flagship Bitcoin ETF product. The firm expects approval by mid-twenty 24, unlike previous Bitcoin exchange traded fund products in Australia. Monochrome's ETF would hold actual bitcoin and this structure mirrors the highly successful spot Bitcoin ETFs in the United States The Australian Securities and Investment Commission has already green lighted Monochrome's proposal. Cboe Australia is now reviewing the application. Quote, we anticipate a decision from the CBOE Australia about the monochrome Bitcoin ETF before the middle of this year, said CEO Jeff Yu. The monochrome Bitcoin ETF stands to be the 1st Bitcoin ETF in Australia authorized to hold Bitcoin directly, end quote.
If approved, the ETF would provide local investors with direct exposure to bitcoin through a regulated investment vehicle. Monochrome said it chose cboe for its strategic expertise and extensive reach across Asia. The firm had planned to list on rival exchange asx but it has since pivoted to cboe's platform. Australia joining the spot bitcoin ETF movement could further validate bitcoin as an investable asset class as monochrome is aiming to tap surging institutional demand as the bitcoin industry matures. The fund's launch would arrive.
Just before bitcoin's next halving event likely boosting interest As the first to hold physical Bitcoin, monochrome could quickly dominate the local ETF space in Australia. And the chances of them actually getting this done by 420, I don't know. I mean, I I I don't see it happening but it would be kind of awesome if they launched right before the halving event because that, you know, that's gonna shake shit up. But the whole point here is that Australia isn't something to sneeze at. It's got a fairly hefty population. And they've been turning their nose up at Bitcoin for quite a while. And it looks like even these guys are, like, having to go, damn it and eat their crow and have to do this stuff along with the rest of the world because it's all coming, guys. It's all coming. It doesn't mean that I'm a fan of the ETFs, but you can't stop them. It's sort of like the crap with ordinals. You may hate them. God knows I do.
But we're gonna have to live with them. And you never know. In the case of the ETFs, it might actually make price go up, you know, because we're all here for number go up. Oh, I'm sorry. I mean the tech. BlackRock has updated Bitcoin ETF. It has added 5 Wall Street firms. This, again, you may hate the ETFs, but if you don't know what the hell's going on, you ain't got a chance to to survive the future. Okay. So this is out of Cointelegraph. Global assets manager BlackRock updated its bitcoin exchange traded fund prospectus on April 5th adding 5 big Wall Street firms as new authorized participants.
New members include ABN AMRO Clearing, Citadel Securities, Citigroup Global Markets, Goldman Sachs, and UBS Securities. Oh, man. Looks like so UBS hold on for a second. UBS and Goldman Sachs are both in. That's all according to the document that amended BlackRock's S-one registration statement with the Securities and Exchange Commission. Among the previously authorized participants in the ETF were JPMorgan Securities, Janes Street Capital, Macquarie Capital and Virtu Americas. Authorized participants play a crucial role in the btc ETF operational mechanics as they can create and redeem shares of the ETF, which involves exchanging ETF shares for a corresponding basket of securities that reflects the ETF's holdings or exchanging them for cash. According to Bloomberg analyst Eric Balchunas, the new additions indicate that big time firms now want a piece of the action and or are now just okay being publicly associated with this. The SEC's position on a cash creation and redemption mechanism for bitcoin ETFs was primarily directed at mitigating market manipulation risks associated with transactions.
The cash mechanism entails that new shares of a Bitcoin ETF will only be created or redeemed through cash transactions. In contrast to the traditional in kind model where market participants handle the underlying asset directly. Let me make sure about something. Okay. Just needed to make sure I was recording. This approach was developed to prevent intraday price manipulation according to initial proposals by asset managers like Hashdex. Following the SEC's guidance, other asset managers including giants like BlackRock, ARK Invest, and Grayscale have incorporated this mechanism into their filings. Yeah, because they had to. The the Bitcoin ETFs witnessed a spike in trading volume in March, reaching $111,000,000,000 While some analysts suggest the product's demand is cooling down, BlackRock's iBit continues to dominate research, BlackRock's iBit assets reached $17,600,000,000 on April 1st.
Oh God, that's a lot. My God. Alright, so 5 more big players are in and they're they are now going to be able to offer this product to their clients and they're going to be able to They're going to be able to participate These are huge banks. These aren't, like, you know, Bob's backyard banking. This is UBS. This is Goldman Sachs. And I'll bet I'll bet Jamie Dimon is just he doesn't even want to talk about Bitcoin. And here we go. JPMorgan's in. Goldman Sachs is in. UBS is in. I'll bet Jamie Dimon is just sitting there going, what? What?
You know what? Jamie Dimon I'll bet you he doesn't really care. Would you? If you had that much money I wouldn't give a shit but Paraguay does because there is a bitcoin mining ban proposed in the country of Paraguay because they've got some electricity problems. Decrypt Jose Antonio Lanz is writing, the sizzling summer heat is just the tip of the melting iceberg when it comes to Paraguay's crypto conundrum. As temperatures soar and air conditioners run at full throttle, the country's power grid is on the rope, struggling to keep the lights on amidst a surge in electricity demand. The hot weather isn't the only thing that's straining the system, however. The government says that illegal crypto mining farms have been guzzling gigawatts like there's no manana.
To tackle this, a group of Paraguayan lawyers have introduced a bill to temporarily slow down the power hungry crypto mining industry by pausing all activities related to the the ecosystem and they're not mincing words. Quote, the creation, preservation, storage, and commercialization of virtual assets or crypto assets, cryptocurrencies, and the installation of crypto mining farms in Paraguayan territory are temporarily prohibited. Yeah. Temporarily. To closing the gold window just temporarily back in 1971. Right? The bill proposes that the ban lasts either 180 days or until a proper regulatory framework is established and ANDE, Paraguay's National Electricity Administration, can guarantee sufficient infrastructure to support the energy intensive demands of crypto mining without jeopardizing the rest of the grid.
The bill's broad language could also inadvertently outlaw activities like crypto staking, which creates virtual assets and even ban the simple act of holding digital assets in a wallet which is effectively the act of storing or preserving crypto. Violations of the proposed law would be sanctioned in accordance with the regulations governing the national financial system in the Central Bank of Paraguay, as well as criminal offenses provided for in law number 1160 slash 1997 penal code and other applicable administrative sanctions.
According to the draft bill, the lack of clear regulatory framework from the crypto ecosystem has left the door wide open for, you know, all sorts of problems from consumer protection issues to potential criminal activities like money laundering and tax evasion. Oh, but it's for the children. Despite the bill's broad phrasing, the bill's idea seems to tackle a very specific problem, Illegal crypto mining farms that have been popping up around the country. The clandestine operations are siphoning off electricity and, by God, evading existing local regulations.
Take for instance the recent bust of the facilities of Radio Quindy, where a whopping 700 active ASICs were uncovered. It was a crypto mining farm so massive it required as much electricity as the city it was located in. And this is not just an isolated case either, with government officials claiming that these illegal operations cost the state owned utility, ANDE, a n d e, over $60,000,000 a year, every year in lost revenue. But it is not certain that the bill will become law. Only one day after being introduced, The text has already sparked criticism from local Paraguayan experts. For example, in a long Twitter thread, Luis Benitez, a free software activist who is heavily involved in the crypto community explained why the proposed law could do more harm than good. Quote, the law does not extinguish or distinguish between illegal and legitimate uses of crypto assets. Regulations must be precise, protecting legitimate users without stifling the potential for economic and technological growth. It's vital to consider the unintended consequence of the ban. It could boost illegal mining or move legitimate activity out of our country, losing revenue and economic opportunities.
Well, he's a bag holder, but he's he's got a point. I mean, that's you know, he's got a point. Benitez asserted that a more balanced approach would be to regulate energy intensive mining while promoting the development of energy efficient tokens. And that's where he goes off the rails, ladies and gentlemen. He told Decrypt that crypto enthusiasts are already coordinating actions against the bill. The HashPi community will mobilize again so the bill does not advance. We will request a public hearing to explain once more the alternatives that Paraguay has regarding the regulation of part of the crypto activity. Prohibiting technological advances has never been good for any economy.
Yeah, but if you're gonna advocate for staking and bullshit tokens, I just I just not on your side. And if Paraguay wants to shoot themselves in the head, they're just gonna find out the the hard way of what it's like to truly have fun staying poor. And that's all we got for that. It's time now to run the numbers. Futures and commodities starting off with West Texas Intermediate crude, which is up over a point today to $87.49, and it just flipped to $87.50. Brenton North Sea is above $90 at 91.81. Natural gas is up 2.65 percent to $1.82 per 1,000 cubic feet.
Gasoline is up as well because we're gonna come into the summer driving season, so they're starting to ramp that shit up. But as it gasoline is so disconnected from the price of oil. I mean, on a macro scale, yeah. Oil prices go up, gas prices go up. But I've seen gas prices go up in the summer while oil prices were actually on the on the downtrend. So they're kinda decoupled, you know, make of that what you will. Gold having a good day over 1 and a half points to the upside. It looks like a new all time high, $2,346. Silver is up over a point, but platinum is down a point and a third. Copper is down a third of a point, and palladium is down 3 full points.
What ag? Ag is looking pretty mixed today. The biggest winner is coffee, 3.26% to the upside. Biggest loser? No. Oh, shit. No. I'm sorry. Chocolate is the biggest winner. 5% swing to the upside. That's probably because we are coming into a chocolate shortage. I talked about that in the last show, I think. The biggest loser, however, is sugar. 1.88 percent of the downside. Live cattle is down 2 and a half points. Lean hogs are up almost a full point and feeder cattle are off by 2 and a half points. Legacy Financials are doing well this I guess, well. I don't even know what the hell this stuff stuff means anymore when the Dow is up point 9%, the s and p is up 1.15%, the Nasdaq is up 1a half, and the s and p mini is up almost a full point. I kinda I don't know, man. I mean, I I give you guys the news about legacy markets because it's coupled to what we do. It affects everything that's going on and we're gonna I've got a a report on the jobs situation that's gonna come up in the first part of the next part of the show. We'll get to that. But all this stuff is connected whether we whether we keep telling ourselves that Bitcoin is decoupled from legacy financial markets, it's never going to be decoupled.
Right? There's always going to be humans in the mix, and humans are affected all by a lot of the same things. So it doesn't matter if it looks like Bitcoin is decoupled from Dow Jones Industrial Index and all that kind of crap. It is. It's coupled together. The financial legacy markets and Bitcoin and all that is coupled together through human action. And what drives humans to do one thing or another makes our decisions as to whether or not we're interested in the DAO or whether or not we want Bitcoin, but it's human action. So, therefore, Bitcoin and legacy markets are coupled.
They do affect each other, and it's just gonna get worse. I guarantee it's gonna get worse. But first, we have a $67,580 price tag on a Bitcoin, which is 1.33 $1,000,000,000,000 of market cap, 19,673,936 and 3 quarters BTC are in circulation at the time. And over the last 2016 blocks, the hash rate is 608.3 exahashes per second, and the fees are on the decline. They're declining even further today with only 0.18 BTC being taken in fees on a per block basis. April 20, 2024 is still pegged as the having date. Fingers crossed. Fingers crossed that we have the having on the palindrome day of 4/20, and we're just looking for a price of $69,420.
If all those planets align, it's gonna be awesome. It's gonna be it'll be it'll be a great having if that occurs. But, we have 1.6 percent of block space still being used to shuttle around the ordinals and inscriptions. So we have a 155 blocks, and they are carrying how many? A 104,000 unconfirmed transactions. And oh, if you wanna do some consolidation, today is your day. 7 satoshis per vbyte for both high priority, medium priority, and low priority. Anything under 1.8 satoshis per vbyte is being purged from mempools around the world.
Okay. From no thank you, that was episode 881 of Bitcoin. And I've got Beisnards aka Maple Trade. Right? Maple trade. It's bizonards@beis nerds. If you want the finest maple syrup you've ever had, you're gonna buy it from my friend, Beisnerds, also known as Maple Trade. All of his information will be in the show notes. Thank god the show notes now work. Thanks to podhome.fm. He gave me. I'm not okay. This is the one time that I'm not going to tell you how much he gave me. Although it's perfectly visible to anybody that's using the fountain app. But he says, he gives me a lot of satoshis.
A lot of satoshis, and he says the circle p strikes again. Syrup is going fast, but the soaps last all year long. So that's what I was saying. He's he's running out of syrup. If you wanna get a hold of pleb made handmade artisanal maple syrup. You better get on the stick, man, because he's probably not gonna have very much left over. And I hope I sell him out faster than he's ever been sold out before in his life. Letter 6173, 10,001 sat. Full palindrome right there. He says nothing. Thank you, letter. I appreciate that. Itsy Bitsy Huddle with 5,000 says thanks for keeping us all informed and sharing your opinion on the most current Bitcoin news. No. Thank you.
God's death with 5,000 says no. Thank you. You are appreciated. Well, I appreciate that, sir. Thank you. Here's my first contribution to the next piece of podcasting gear, and that comes from JC Denton with 21100 sats. Appreciate it, man. Pies with a 1,000 says, thank you for your kind words, brother. Put a big smile on my face and warm my heart. Yeah. Well, we're here to support every single pleb that we can. Pies comes back with another 420 and says, thank you, sir. No. Thank you. Bit Gus with 200 sat says, Buist. Tinggssen with a 101 says, great show, my favorite podcast. Dude, that's awesome. Satoshi Tiko with a 101 sat says or he says Tiko says Pura Vida nanya.
And that's the weather report. Welcome to part 2 of the news you can use. The United States added 303,000 jobs in March, outpacing expectations for 200,000 jobs. Mhmm. This is out of CoinDesk. Steven Alfer is gonna tell us why this matters, I guess. The US jobs report, continues to exhibit strength with the government reporting that the addition of 303,000 jobs of just last month. That's the strongest headline number since May of 2023. That was a long time ago. And easily topped economist forecasts for 200,000 and February's 270,000 editions, which was revised from a previously reported 270 5,000.
So the revision comes down 5,000 jobs. The unemployment rate in March dipped to 3.8% against expectations for 3.9 and February's 3.9% as well. The price of Bitcoin fell about 0.5% in the minutes following Friday morning's report to $66,000. In traditional markets, United States stock index futures gave up a chunk of earlier gains but are still modestly higher. The 10 year treasury yield rose 6.5 basis points to hit 4.38 percent and the dollar index added 0.5%. Okay. So that's all we really need to know about that, except this.
The jobs reports, they always get revised lower. Now, the 275,000 reported or 270 report 1,000 reported that was revised 5,000 down after it was actually released, That number, that's actually pretty modest. I've seen nothing but downward revisions on every single unemployment or employment report that the labor Bureau of Labor and Statistics releases. Every single time they release 1, about a couple of weeks later, it gets revised down. Now, this is a pattern of behavior that I call lying. They're just lying about it. At this point, you you kinda you kind of can't hide what's been going on with the United States and the basically the west western world.
The economies are in shambles. Most people are walking around like it's like, I don't know. I was like, what was that, dude said in, The Big Short? They're walking around like they're in some kind of freaking video. Just they don't know what's going on because they're not looking at at the way they don't look at this stuff the way that we look at it. Remember that how you used to be a normie and you didn't give a shit about any of this stuff either? Yeah, that's how most people still are. How frightening is that? Think back to when you literally didn't know what a Treasury bond was. Didn't know didn't know why you should care.
You know, thought maybe it was the same thing as a United States savings bond. You know? You know, how how banks print money. What the Fed, you know, what the Fed chairman says and how it makes markets react? Well, this one, This is just straight up lying to people and they've been doing it for well, they've been doing it since well before covid They've been doing this kind of thing pretty much, in my opinion, since 2008. Just flat ass lying about everything. But here's one of the things that it's going to affect whether they're lying or not. Jerome Powell is not going to lower interest rates because of this report. Jobs look good.
Jobs look real good right now. That's a good report. It's a lie, but it's a good report and that's what Jerome Powell is looking at. He knows it's a lie. He's he's not an idiot. I'm not saying that he's being duped like the rest of us. No. He fully he knows full well that those numbers are just bogus. But that's all he needs to say is, look at this jobs report. And just hold it up to the cameras and say, look at this job report. Oh, my god. It's just awesome. And we don't need see, what we're doing works. We're keeping interest rates high, and everybody is just begging for the interest rates to come down to so that it could be like it was. So that we'd have free money everywhere.
And media companies that didn't make a damn dime on anything were getting just paid paydays just to be alive because they were parroting whatever narrative they needed to parrot. But ever since COVID, all that shit's gone. It's all gone. Media companies have been folding left and right. These jobs numbers, they're a joke. That when they say, oh, it the the inflation is only whatever it was last time, 3.9%. It's bullshit. It's all a complete lie. Don't believe them. But understand you're still going to be affected by the lie because they're not going to lower interest rates.
And that means housing is going to pretty much stay the same. I keep thinking that there's gonna be a housing crash. Nobody can sell their house. They're all in these mortgages that are like, you you're not going to be able to get these kinds of mortgages. So these people that were thinking possibly about selling their house, they're not gonna do it. They can't. Not that they couldn't get another mortgage. I mean, they're probably, you know, a lot of them are probably creditworthy, but they ain't getting a 1.6% mortgage rate for 30 years.
They're gonna get 8. That's what they're looking at. So their housing, you know, like if you had a $1,000 a month house payment or $1600 a month house payment, Say hello to $4,000 a month for a house payment for 30 years unless you refinance at one later date when the interest rates finally go down. But that's why this stuff matters. That's why I was saying that the legacy markets and the Bitcoin market is intrinsically linked through human action. People will say, well, they're uncorrelated. Bullshit. They're correlated. They're correlated in some funky ass ways. I'll give it that, but they're correlated.
So don't don't buy into that crap. Humans are gonna human no matter where the humans are. Alright. On to unleashed.chat version 0.1.19 dot nostr dvm and bug fixes. UnleashChat is an AI chatbot designed with real privacy in mind. It supports livegnostr data querying and advanced context embedding capabilities and accepts bitcoin payments both on chain and via lightning. So what's new? We now have a Nostr Data Vending Machine or DVM that can summarize text inputs using our Mistral 7b model. More models and request types are coming soon. You can test it out with a Nostradvm client like vendata.
Io. That's vendata. Io. That's one of Pablo f seven z's early works. I mean, Pablo is all over the place. Thankfully, I think Pablo is finally getting some sleep. I haven't yeah. He hasn't released a new product in a couple of weeks now. So maybe the the dude can, you know, get some shut eye before he kills himself. Anyway, that's vendata. Io. Go check that out. You can now start a chat with the data source right from the files and data sources table. Just click on the 3 dots at the end of the row and select start chat. So and I if I remember right, I think this is Rodolfo Novak's thing. I'm not exactly sure on that.
If somebody if I got that wrong, somebody please correct me. But I'm pretty sure that it's Novak's, unleashed dot chat. Go give it a shot. I mean, you might as well because we're relying way too much on OpenAI. And that's where pay per queue comes in. Pay per queue is a chatgpt4 pay per query over lightning service. This is great. I love this. I love this. Introducing pay per queue, a sleek and functional chat GPT4 experience which operates on a pay per query model via Bitcoin micropayments announced Matt Ahlborg. The primary use cases are making gpt4 available to users who may not want to pay for a full $20 chatgpt plus subscription.
And 2, making chatgpt4 available to global users who may find it difficult to connect with Visa, Mastercard, to OpenAI. As an example, you could run 10 to 20 queries a day through ppa.ai and still only spend $10 a month. Without having the burden of linking a credit card. Overall, I believe these 2 use cases could be really strong and that this bot could become the default default chatgpt4experience for many bitcoin adjacent global developers and professionals around the world, said the developer. Please try it out and give feedback.
And there's a screenshot this is from nobsbitcoin.com. There's a screenshot in this article from Stacker News and somebody had commented on this announcement that was placed over at Stacker News and said, nice work. Any plans or desires to reduce the reliance on open AI? And Matt comes back and he says, definitely. I plan to open up many models both proprietary and open source. For now, I wanted to focus on chatgpt4 because it is the highest quality from a working dev's perspective. And that's what we need more of. With there's 2 things here that are really, really, really important. The use of micropayments, in this case, over lightning, but we can start talking about e cash and chommie and mints and all that kind of stuff, to do the same thing. But right now, let's just look at lightning being able to make micropayments to a third party that is in turn somehow linking to chatgpt4 and then the other thing is open source models being looked at to operate alongside chatgpt4.
Because even though I'm anonymized through that micropayment on pay per queue, I am anonymized. Right? I I mean, after it's it's a basically, I my identity gets scrubbed. When I use chatgpt4 directly from open from the when I connect over to their browser, the open ai guys, they know that it's coming from my IP address. Every question that I ask, they know where I'm at. They know what I'm doing. They know, you know, what data carrier I'm using. They know everything. They know like, if if I ask the wrong question, I they're gonna know.
This detaches me from the equation of using chatgpt4 which in a lot of cases does really well for some things But you now put that on a tray and serve it up with a whole bunch of other open source models now you're cooking with gas. Because at least even if I'm anonymized I'm still feeding the machine that is chatgpt4. Right? The open AI guys. I'm helping train all their crap. I don't want to do that. I don't want them having any information about me whatsoever because that guy Sam or whatever his name is that runs that place he's an evil person I do not like him I do not want him knowing anything. I do what don't want his job or his life being any easier than it already is.
So thank God for people like Matt Alberg who are able to 1 detach me and my identity from the equation of using something like chatgpt4 and the foresight to start bringing other models online. That's going to be really important. Now, e cache, I've mentioned it, e cache hack day v 2 is taking place in Berlin on June 20 through 21st. Join us for the e cache hack day version 2 or v 2 in Berlin, June 20th through 21st, 2024. This is a small and intimate event for hackers, researchers and anyone else interested in Chaumian eCash announced callebtcallebtcallebtcallebtc We have participants from GNU, Tyler, Fediment, and Cashew.
There will be talks, discussions, and a lot of code. Our goal is to bring the developer community closer together, exchange ideas, and work on cool projects during the hackathon. And you can register at ecashhackday. Github. Io. I'm just gonna throw that up there in the chat for you guys. Ecashhackdayalloneword. Github.io, and you can go register there if you're interested. Now, Nostra development kit version 2.7 massive performance improvements. NDK is a Nostra development kit that makes the experience of building a noster related applications whether they're relays, clients, or anything else in between better, more reliable, and overall nicer to work with than existing solutions.
So the NDK version 2.7 has been released one step closer to the asymptote along with ndk2.7. Ndk cache dexi 2.3 is now live. Ndk svelte components 2.2.11 is now live. And some new things have been added. A queuing system Caching of nip 0 5 and zap endpoint information. Most applications should feel much faster because of that. Caching of NIP 0 5 ZAP endpoints is also in place. And threading utility functions to make displaying threads properly, properly defined as how Gigi likes it. And they're talking about dirgegi, also known as Gigi. He was dirgegi on Twitter.
He's I only see it now as Gigi, now that he's been doing a lot of stuff on Master. So there is that. Okay. What's hear. Oh, Bitcoin Keeper version 1.2.1 finishes us out. Taproot wallet support. Bitcoin Keeper is a Bitcoin multisig wallet with privacy and inheritance features available on iOS and Android. Bitcoin Keeper 1.2.1 has been released. You can now hide or delete keys and wallets. It has support for Taproot wallets, fee insights, you know, it'll give you like a high fee warning and other bug fixes and improvements. So if you are a user or want to go with try out Bitcoin Keeper, they have updated all that stuff. Now, that's gonna do it for the morning roundup.
Dad says jokes. Can you believe I was thrown out of my church for claiming Jesus spoke with a lisp? It was a real slap in the faith. Terrible. Awful. Awful. Don't forget to pick up your maple syrup while you can from Maple Trade. His information will be in the show notes and the show notes are now actually work. They actually work. So go I've actually also replaced his, in pub with a direct link, to, I guess I gave it the primal one, because it was a little bit shorter. I I Huddlebot, I tried I actually tried Coreicle first, but it just it the formatting looked because it's like a much longer address, the formatting, the way that I was putting it in, it just it it wasn't working for me. So I I don't know. I just wanted to give a direct link so that somebody could just click on the thing and be taken to a web browser on their phone so that they can DM Maple Trade and you can order maple syrup that's handmade. Also, get the soaps. I'm telling you, I've used the he he sent me a basket of his goodies to try out. I loved everything that I got. I still have some of the soap.
I'm still using one of the bars of soap that I got from that that he sent me months ago. That's how good that beef tallow soap is. It lasts, like, freaking forever, but but his maple syrup doesn't. Okay. He's running out quick and the fat ass, boostogram that he gave me and it was fat, wasn't because he just wanted to give me satoshis. That was what he was paying me as what he he found value of the circle p. And he gave me that value back in the form of a fat ass boostogram. Right? It's not a tip. It's a it's not a at that point, it's not even a donation. What that is is he's paying me for my service. I was able to sell some of his maple syrup because people tell him, hey, I heard about you on the circle p. I want some of your maple syrup, and he decided to cut me basically a check of what he thought it was worth.
This makes sense to me. Now, will the model always work? No. Somebody somewhere is gonna screw me out of satoshis and they're gonna get free advertising out of me. You know what? Right now at this moment, you know how much I care about that? Not. I don't. I don't care. I don't care. I don't care right now. But it's not gonna be that way forever. Eventually, I'll find out and I will care, but people like maple trade, you gotta help these guys out. Because when you buy maple syrup from maple trade or you buy a wallet from Leatherman or you visit any of the vendors in the circle p, you're not just supporting them and getting some cool shit.
You're also supporting the show. It's like everybody freaking gets something out of it. It's amazing and I'm going to keep this model alive as long as humanly possible. I've I see no problem with it other than the fact that it's going to be an accounting nightmare, but I'm not accounting for anything right now because it's just let's try this out. Does value for value work? I keep hearing about all the people that say it doesn't. It just it's never gonna work. Well, it's kinda working for me. So keep that going. Buy your maple syrup. Get some soap. Get a new wallet from Leatherman. You know? Because they're going to cut me satoshis back on the other end, and I will see you on the other side.
This has been bitcoin and and I'm your host, David Bennett. I hope you enjoyed today's episode and hope to see you again real soon. Have a great day.
Good morning. This is David Bennett, and this is Bitcoin Ant, a podcast where I try to find the edge effect between the worlds of Bitcoin, gaming, permaculture, casting, and education to gain a better understanding of all. Edge effect is a concept from ecology describing a greater diversity of life where the edges of two systems overlap. While species from either system can be found at the edge, it is important to note there are species in the overlap that exist in neither system. And that is what I seek to uncover. So join me in discovering the variety of things being created as Bitcoin rubs up against other systems. It's 10:30 AM Pacific Daylight Time. It is the 5th day of god. What?
April 2024. God. This year is just flying by, guys. This is episode 882 of Bitcoin and a huge shout out to Yegro and Haldemand who are in the zap.stream audience, and they're zapping me. Thank you. I appreciate that. I had to put up a new goal for a Shure SM7B microphone so that I can, you know, step step things up considering that I've already met goal for the Rodecaster Pro 2, and that was all of you guys. That was that was that was all of you guys. Y'all bought me that thing. It's amazing. I'm just saving saving the zaps, saving the sats, save, save, save, save, save. And all of a sudden, I turn around a couple of nights ago, and I'm like, holy shit. I got enough money to actually buy that thing. So, anyway, I've had to, set up a new goal, and that goal in the Zap dot Stream is for a Shure SM 7 B microphone.
Now the circle p is open for business. Circle p is where I bring plebs like you to plebs like you and their goods and services. And today is gonna be maple trade, and we will hear from maple trade during the appreciation part of the show where I read the boostagrams. He's got he's got some news. But before I do that have you tried his maple syrup? Have you tried it? Because you better get on it it's going fast. We'll find out again we'll find out more later. The maple syrup is going fast. He makes it by hand. It takes him a long time to do it. It probably takes him longer to do it than it takes him to actually sell it, according to what he's told me. But, in either event, you can get a quart of his handmade maple syrup for $27, 3 quarts for 68, a half gallon for 45, a full gallon for $80, and a pint or 4 pints for $50.
He does take Bitcoin for his maple syrup and his sister Sarah's soaps. If you want some good beef tallow soap, you're going to hit up Maple Trade as well because he's selling it for his sister. In either event, if he wasn't taking Bitcoin for goods and services offered, he wouldn't be in the Circle P. That's the whole point of the Circle P is to start up circular economies for plebs. That's why it's called the circle P. Anyway, just go get his maple syrup. Trust me. I've had it. It's delicious. It's it's amazing to cook with. If you order his cooking syrup because he's still I think he still has that grade. He's got a couple of different grades. If you get the cooking syrup, right, it's it's a way stronger maple flavor than anything else that you'll ever find. It's great on, salmon. If you're gonna bake some salmon, glaze, some maple syrup on it and like build those glaze layers up in the while it's cooking in the oven and holy crap man it's it's amazing it's amazing especially with some dill sprinkled on it. Alright, alright, I think that that is enough for the circle p, but I'm not done with the shill fest. No. Not by a long shot. Bitcoin plus plus is script happy.
That is Bitcoin plus plus They are going to have a event in Austin this coming spring. They're going to dive deep into all things Bitcoin script. It's going to be at the Palmer Events Center from May 1st through the 4th in Austin, Texas. And if I remember right, Palmer Events Center is actually on Lake Austin, on the shores of Lake Austin, and you get a really great view of the Austin City skyline. I was looking at pictures of Austin the other day, actually last night, because it's on it. Well, here. Hold on. For the guys over there in zap.stream, here. Take a look at Austin.
See? Look at that. Look how pretty that shit is. Now I used to live in Austin and I didn't much enjoy living there, but I gotta tell you it is a great place to visit. Yeah, it's got a the buildings for downtown easily identifiable. It's easily identifiable. I mean that you go to some cities and you know, it's like, There's just no there's just no panache to it, right? You go to Austin, dude, you You know, you know, you're someplace special Anyway, the conference is going to be at the Palmer Event Center is on Lake Lady Bird or well whatever they whatever they call it, Lake LBJ or is it Lake LBJ?
Or Lady Bird Lake? I can't remember. Towne Lake is what I always heard about it but it's got like I don't know 4 4 different names. Anyway, the Palmer Event Center May 1st through 4th. If you want to go do some Bitcoin scripting stuff with the guys over at Bitcoin plus plus this is this is where you can go get it. And it looks like you can of course you can pay with Bitcoin. It's $399 for the ticket for the 4 day all conference pass. If you want to pay with fiat, they're charging you $449. So you're getting a discount. Actually, you're not getting a discount when you pay with Bitcoin. We got to flip that script. What you're doing is you're paying the actual price with Bitcoin.
You're gonna pay a premium if you want to use your crappy dirty nasty fiat that represents almost everything that's bad with the world for the last, oh, 2000 years, something like that. Just just saying. Anyway, here I'll we're gonna put this oh, who who Who's gonna be there? Here's here's all the people that are gonna be there. Holy smokes. It looks like a Stratosopher, Halseth, Christian Lou, Rob Hamilton. Rusty Russell's gonna be there. Supertestnet's gonna be there. Oh, man. That's gonna be awesome. Brandon Black or Reardon Code. He was actually on a Citadel dispatch, I think, not too long ago.
Lakshya Singh, Marco I cannot pronounce that name. Plebhash, Barack, Salvatore. There's a whole lot of people on here. Nifty knee is gonna be there. Who else is here that I could Ben DeCarmen, clearly, is gonna be there. And some dude named Ken Sedgwick. And I don't know who that is, but I'm sure he's there for a good reason. It's probably gonna be worth it. I'm not going to be able to attend because Austin, while it used to be just a simple drive for me when I was living in Texas, no longer the case. No longer the case. Anyway, so there we go. There's that. I'll just I'll just gonna leave that up here. Where we at? Okay.
On to the news. Bitcoin Magazine, Vivek Sin. The first Australian spot Bitcoin ETF could launch in the middle of this year. Australian asset manager Monochrome plans to launch the nation's 1st spot Bitcoin exchange traded fund that holds physical bitcoin. Monochrome filed an application with the securities exchange Cboe in Australia to list its flagship Bitcoin ETF product. The firm expects approval by mid-twenty 24, unlike previous Bitcoin exchange traded fund products in Australia. Monochrome's ETF would hold actual bitcoin and this structure mirrors the highly successful spot Bitcoin ETFs in the United States The Australian Securities and Investment Commission has already green lighted Monochrome's proposal. Cboe Australia is now reviewing the application. Quote, we anticipate a decision from the CBOE Australia about the monochrome Bitcoin ETF before the middle of this year, said CEO Jeff Yu. The monochrome Bitcoin ETF stands to be the 1st Bitcoin ETF in Australia authorized to hold Bitcoin directly, end quote.
If approved, the ETF would provide local investors with direct exposure to bitcoin through a regulated investment vehicle. Monochrome said it chose cboe for its strategic expertise and extensive reach across Asia. The firm had planned to list on rival exchange asx but it has since pivoted to cboe's platform. Australia joining the spot bitcoin ETF movement could further validate bitcoin as an investable asset class as monochrome is aiming to tap surging institutional demand as the bitcoin industry matures. The fund's launch would arrive.
Just before bitcoin's next halving event likely boosting interest As the first to hold physical Bitcoin, monochrome could quickly dominate the local ETF space in Australia. And the chances of them actually getting this done by 420, I don't know. I mean, I I I don't see it happening but it would be kind of awesome if they launched right before the halving event because that, you know, that's gonna shake shit up. But the whole point here is that Australia isn't something to sneeze at. It's got a fairly hefty population. And they've been turning their nose up at Bitcoin for quite a while. And it looks like even these guys are, like, having to go, damn it and eat their crow and have to do this stuff along with the rest of the world because it's all coming, guys. It's all coming. It doesn't mean that I'm a fan of the ETFs, but you can't stop them. It's sort of like the crap with ordinals. You may hate them. God knows I do.
But we're gonna have to live with them. And you never know. In the case of the ETFs, it might actually make price go up, you know, because we're all here for number go up. Oh, I'm sorry. I mean the tech. BlackRock has updated Bitcoin ETF. It has added 5 Wall Street firms. This, again, you may hate the ETFs, but if you don't know what the hell's going on, you ain't got a chance to to survive the future. Okay. So this is out of Cointelegraph. Global assets manager BlackRock updated its bitcoin exchange traded fund prospectus on April 5th adding 5 big Wall Street firms as new authorized participants.
New members include ABN AMRO Clearing, Citadel Securities, Citigroup Global Markets, Goldman Sachs, and UBS Securities. Oh, man. Looks like so UBS hold on for a second. UBS and Goldman Sachs are both in. That's all according to the document that amended BlackRock's S-one registration statement with the Securities and Exchange Commission. Among the previously authorized participants in the ETF were JPMorgan Securities, Janes Street Capital, Macquarie Capital and Virtu Americas. Authorized participants play a crucial role in the btc ETF operational mechanics as they can create and redeem shares of the ETF, which involves exchanging ETF shares for a corresponding basket of securities that reflects the ETF's holdings or exchanging them for cash. According to Bloomberg analyst Eric Balchunas, the new additions indicate that big time firms now want a piece of the action and or are now just okay being publicly associated with this. The SEC's position on a cash creation and redemption mechanism for bitcoin ETFs was primarily directed at mitigating market manipulation risks associated with transactions.
The cash mechanism entails that new shares of a Bitcoin ETF will only be created or redeemed through cash transactions. In contrast to the traditional in kind model where market participants handle the underlying asset directly. Let me make sure about something. Okay. Just needed to make sure I was recording. This approach was developed to prevent intraday price manipulation according to initial proposals by asset managers like Hashdex. Following the SEC's guidance, other asset managers including giants like BlackRock, ARK Invest, and Grayscale have incorporated this mechanism into their filings. Yeah, because they had to. The the Bitcoin ETFs witnessed a spike in trading volume in March, reaching $111,000,000,000 While some analysts suggest the product's demand is cooling down, BlackRock's iBit continues to dominate research, BlackRock's iBit assets reached $17,600,000,000 on April 1st.
Oh God, that's a lot. My God. Alright, so 5 more big players are in and they're they are now going to be able to offer this product to their clients and they're going to be able to They're going to be able to participate These are huge banks. These aren't, like, you know, Bob's backyard banking. This is UBS. This is Goldman Sachs. And I'll bet I'll bet Jamie Dimon is just he doesn't even want to talk about Bitcoin. And here we go. JPMorgan's in. Goldman Sachs is in. UBS is in. I'll bet Jamie Dimon is just sitting there going, what? What?
You know what? Jamie Dimon I'll bet you he doesn't really care. Would you? If you had that much money I wouldn't give a shit but Paraguay does because there is a bitcoin mining ban proposed in the country of Paraguay because they've got some electricity problems. Decrypt Jose Antonio Lanz is writing, the sizzling summer heat is just the tip of the melting iceberg when it comes to Paraguay's crypto conundrum. As temperatures soar and air conditioners run at full throttle, the country's power grid is on the rope, struggling to keep the lights on amidst a surge in electricity demand. The hot weather isn't the only thing that's straining the system, however. The government says that illegal crypto mining farms have been guzzling gigawatts like there's no manana.
To tackle this, a group of Paraguayan lawyers have introduced a bill to temporarily slow down the power hungry crypto mining industry by pausing all activities related to the the ecosystem and they're not mincing words. Quote, the creation, preservation, storage, and commercialization of virtual assets or crypto assets, cryptocurrencies, and the installation of crypto mining farms in Paraguayan territory are temporarily prohibited. Yeah. Temporarily. To closing the gold window just temporarily back in 1971. Right? The bill proposes that the ban lasts either 180 days or until a proper regulatory framework is established and ANDE, Paraguay's National Electricity Administration, can guarantee sufficient infrastructure to support the energy intensive demands of crypto mining without jeopardizing the rest of the grid.
The bill's broad language could also inadvertently outlaw activities like crypto staking, which creates virtual assets and even ban the simple act of holding digital assets in a wallet which is effectively the act of storing or preserving crypto. Violations of the proposed law would be sanctioned in accordance with the regulations governing the national financial system in the Central Bank of Paraguay, as well as criminal offenses provided for in law number 1160 slash 1997 penal code and other applicable administrative sanctions.
According to the draft bill, the lack of clear regulatory framework from the crypto ecosystem has left the door wide open for, you know, all sorts of problems from consumer protection issues to potential criminal activities like money laundering and tax evasion. Oh, but it's for the children. Despite the bill's broad phrasing, the bill's idea seems to tackle a very specific problem, Illegal crypto mining farms that have been popping up around the country. The clandestine operations are siphoning off electricity and, by God, evading existing local regulations.
Take for instance the recent bust of the facilities of Radio Quindy, where a whopping 700 active ASICs were uncovered. It was a crypto mining farm so massive it required as much electricity as the city it was located in. And this is not just an isolated case either, with government officials claiming that these illegal operations cost the state owned utility, ANDE, a n d e, over $60,000,000 a year, every year in lost revenue. But it is not certain that the bill will become law. Only one day after being introduced, The text has already sparked criticism from local Paraguayan experts. For example, in a long Twitter thread, Luis Benitez, a free software activist who is heavily involved in the crypto community explained why the proposed law could do more harm than good. Quote, the law does not extinguish or distinguish between illegal and legitimate uses of crypto assets. Regulations must be precise, protecting legitimate users without stifling the potential for economic and technological growth. It's vital to consider the unintended consequence of the ban. It could boost illegal mining or move legitimate activity out of our country, losing revenue and economic opportunities.
Well, he's a bag holder, but he's he's got a point. I mean, that's you know, he's got a point. Benitez asserted that a more balanced approach would be to regulate energy intensive mining while promoting the development of energy efficient tokens. And that's where he goes off the rails, ladies and gentlemen. He told Decrypt that crypto enthusiasts are already coordinating actions against the bill. The HashPi community will mobilize again so the bill does not advance. We will request a public hearing to explain once more the alternatives that Paraguay has regarding the regulation of part of the crypto activity. Prohibiting technological advances has never been good for any economy.
Yeah, but if you're gonna advocate for staking and bullshit tokens, I just I just not on your side. And if Paraguay wants to shoot themselves in the head, they're just gonna find out the the hard way of what it's like to truly have fun staying poor. And that's all we got for that. It's time now to run the numbers. Futures and commodities starting off with West Texas Intermediate crude, which is up over a point today to $87.49, and it just flipped to $87.50. Brenton North Sea is above $90 at 91.81. Natural gas is up 2.65 percent to $1.82 per 1,000 cubic feet.
Gasoline is up as well because we're gonna come into the summer driving season, so they're starting to ramp that shit up. But as it gasoline is so disconnected from the price of oil. I mean, on a macro scale, yeah. Oil prices go up, gas prices go up. But I've seen gas prices go up in the summer while oil prices were actually on the on the downtrend. So they're kinda decoupled, you know, make of that what you will. Gold having a good day over 1 and a half points to the upside. It looks like a new all time high, $2,346. Silver is up over a point, but platinum is down a point and a third. Copper is down a third of a point, and palladium is down 3 full points.
What ag? Ag is looking pretty mixed today. The biggest winner is coffee, 3.26% to the upside. Biggest loser? No. Oh, shit. No. I'm sorry. Chocolate is the biggest winner. 5% swing to the upside. That's probably because we are coming into a chocolate shortage. I talked about that in the last show, I think. The biggest loser, however, is sugar. 1.88 percent of the downside. Live cattle is down 2 and a half points. Lean hogs are up almost a full point and feeder cattle are off by 2 and a half points. Legacy Financials are doing well this I guess, well. I don't even know what the hell this stuff stuff means anymore when the Dow is up point 9%, the s and p is up 1.15%, the Nasdaq is up 1a half, and the s and p mini is up almost a full point. I kinda I don't know, man. I mean, I I give you guys the news about legacy markets because it's coupled to what we do. It affects everything that's going on and we're gonna I've got a a report on the jobs situation that's gonna come up in the first part of the next part of the show. We'll get to that. But all this stuff is connected whether we whether we keep telling ourselves that Bitcoin is decoupled from legacy financial markets, it's never going to be decoupled.
Right? There's always going to be humans in the mix, and humans are affected all by a lot of the same things. So it doesn't matter if it looks like Bitcoin is decoupled from Dow Jones Industrial Index and all that kind of crap. It is. It's coupled together. The financial legacy markets and Bitcoin and all that is coupled together through human action. And what drives humans to do one thing or another makes our decisions as to whether or not we're interested in the DAO or whether or not we want Bitcoin, but it's human action. So, therefore, Bitcoin and legacy markets are coupled.
They do affect each other, and it's just gonna get worse. I guarantee it's gonna get worse. But first, we have a $67,580 price tag on a Bitcoin, which is 1.33 $1,000,000,000,000 of market cap, 19,673,936 and 3 quarters BTC are in circulation at the time. And over the last 2016 blocks, the hash rate is 608.3 exahashes per second, and the fees are on the decline. They're declining even further today with only 0.18 BTC being taken in fees on a per block basis. April 20, 2024 is still pegged as the having date. Fingers crossed. Fingers crossed that we have the having on the palindrome day of 4/20, and we're just looking for a price of $69,420.
If all those planets align, it's gonna be awesome. It's gonna be it'll be it'll be a great having if that occurs. But, we have 1.6 percent of block space still being used to shuttle around the ordinals and inscriptions. So we have a 155 blocks, and they are carrying how many? A 104,000 unconfirmed transactions. And oh, if you wanna do some consolidation, today is your day. 7 satoshis per vbyte for both high priority, medium priority, and low priority. Anything under 1.8 satoshis per vbyte is being purged from mempools around the world.
Okay. From no thank you, that was episode 881 of Bitcoin. And I've got Beisnards aka Maple Trade. Right? Maple trade. It's bizonards@beis nerds. If you want the finest maple syrup you've ever had, you're gonna buy it from my friend, Beisnerds, also known as Maple Trade. All of his information will be in the show notes. Thank god the show notes now work. Thanks to podhome.fm. He gave me. I'm not okay. This is the one time that I'm not going to tell you how much he gave me. Although it's perfectly visible to anybody that's using the fountain app. But he says, he gives me a lot of satoshis.
A lot of satoshis, and he says the circle p strikes again. Syrup is going fast, but the soaps last all year long. So that's what I was saying. He's he's running out of syrup. If you wanna get a hold of pleb made handmade artisanal maple syrup. You better get on the stick, man, because he's probably not gonna have very much left over. And I hope I sell him out faster than he's ever been sold out before in his life. Letter 6173, 10,001 sat. Full palindrome right there. He says nothing. Thank you, letter. I appreciate that. Itsy Bitsy Huddle with 5,000 says thanks for keeping us all informed and sharing your opinion on the most current Bitcoin news. No. Thank you.
God's death with 5,000 says no. Thank you. You are appreciated. Well, I appreciate that, sir. Thank you. Here's my first contribution to the next piece of podcasting gear, and that comes from JC Denton with 21100 sats. Appreciate it, man. Pies with a 1,000 says, thank you for your kind words, brother. Put a big smile on my face and warm my heart. Yeah. Well, we're here to support every single pleb that we can. Pies comes back with another 420 and says, thank you, sir. No. Thank you. Bit Gus with 200 sat says, Buist. Tinggssen with a 101 says, great show, my favorite podcast. Dude, that's awesome. Satoshi Tiko with a 101 sat says or he says Tiko says Pura Vida nanya.
And that's the weather report. Welcome to part 2 of the news you can use. The United States added 303,000 jobs in March, outpacing expectations for 200,000 jobs. Mhmm. This is out of CoinDesk. Steven Alfer is gonna tell us why this matters, I guess. The US jobs report, continues to exhibit strength with the government reporting that the addition of 303,000 jobs of just last month. That's the strongest headline number since May of 2023. That was a long time ago. And easily topped economist forecasts for 200,000 and February's 270,000 editions, which was revised from a previously reported 270 5,000.
So the revision comes down 5,000 jobs. The unemployment rate in March dipped to 3.8% against expectations for 3.9 and February's 3.9% as well. The price of Bitcoin fell about 0.5% in the minutes following Friday morning's report to $66,000. In traditional markets, United States stock index futures gave up a chunk of earlier gains but are still modestly higher. The 10 year treasury yield rose 6.5 basis points to hit 4.38 percent and the dollar index added 0.5%. Okay. So that's all we really need to know about that, except this.
The jobs reports, they always get revised lower. Now, the 275,000 reported or 270 report 1,000 reported that was revised 5,000 down after it was actually released, That number, that's actually pretty modest. I've seen nothing but downward revisions on every single unemployment or employment report that the labor Bureau of Labor and Statistics releases. Every single time they release 1, about a couple of weeks later, it gets revised down. Now, this is a pattern of behavior that I call lying. They're just lying about it. At this point, you you kinda you kind of can't hide what's been going on with the United States and the basically the west western world.
The economies are in shambles. Most people are walking around like it's like, I don't know. I was like, what was that, dude said in, The Big Short? They're walking around like they're in some kind of freaking video. Just they don't know what's going on because they're not looking at at the way they don't look at this stuff the way that we look at it. Remember that how you used to be a normie and you didn't give a shit about any of this stuff either? Yeah, that's how most people still are. How frightening is that? Think back to when you literally didn't know what a Treasury bond was. Didn't know didn't know why you should care.
You know, thought maybe it was the same thing as a United States savings bond. You know? You know, how how banks print money. What the Fed, you know, what the Fed chairman says and how it makes markets react? Well, this one, This is just straight up lying to people and they've been doing it for well, they've been doing it since well before covid They've been doing this kind of thing pretty much, in my opinion, since 2008. Just flat ass lying about everything. But here's one of the things that it's going to affect whether they're lying or not. Jerome Powell is not going to lower interest rates because of this report. Jobs look good.
Jobs look real good right now. That's a good report. It's a lie, but it's a good report and that's what Jerome Powell is looking at. He knows it's a lie. He's he's not an idiot. I'm not saying that he's being duped like the rest of us. No. He fully he knows full well that those numbers are just bogus. But that's all he needs to say is, look at this jobs report. And just hold it up to the cameras and say, look at this job report. Oh, my god. It's just awesome. And we don't need see, what we're doing works. We're keeping interest rates high, and everybody is just begging for the interest rates to come down to so that it could be like it was. So that we'd have free money everywhere.
And media companies that didn't make a damn dime on anything were getting just paid paydays just to be alive because they were parroting whatever narrative they needed to parrot. But ever since COVID, all that shit's gone. It's all gone. Media companies have been folding left and right. These jobs numbers, they're a joke. That when they say, oh, it the the inflation is only whatever it was last time, 3.9%. It's bullshit. It's all a complete lie. Don't believe them. But understand you're still going to be affected by the lie because they're not going to lower interest rates.
And that means housing is going to pretty much stay the same. I keep thinking that there's gonna be a housing crash. Nobody can sell their house. They're all in these mortgages that are like, you you're not going to be able to get these kinds of mortgages. So these people that were thinking possibly about selling their house, they're not gonna do it. They can't. Not that they couldn't get another mortgage. I mean, they're probably, you know, a lot of them are probably creditworthy, but they ain't getting a 1.6% mortgage rate for 30 years.
They're gonna get 8. That's what they're looking at. So their housing, you know, like if you had a $1,000 a month house payment or $1600 a month house payment, Say hello to $4,000 a month for a house payment for 30 years unless you refinance at one later date when the interest rates finally go down. But that's why this stuff matters. That's why I was saying that the legacy markets and the Bitcoin market is intrinsically linked through human action. People will say, well, they're uncorrelated. Bullshit. They're correlated. They're correlated in some funky ass ways. I'll give it that, but they're correlated.
So don't don't buy into that crap. Humans are gonna human no matter where the humans are. Alright. On to unleashed.chat version 0.1.19 dot nostr dvm and bug fixes. UnleashChat is an AI chatbot designed with real privacy in mind. It supports livegnostr data querying and advanced context embedding capabilities and accepts bitcoin payments both on chain and via lightning. So what's new? We now have a Nostr Data Vending Machine or DVM that can summarize text inputs using our Mistral 7b model. More models and request types are coming soon. You can test it out with a Nostradvm client like vendata.
Io. That's vendata. Io. That's one of Pablo f seven z's early works. I mean, Pablo is all over the place. Thankfully, I think Pablo is finally getting some sleep. I haven't yeah. He hasn't released a new product in a couple of weeks now. So maybe the the dude can, you know, get some shut eye before he kills himself. Anyway, that's vendata. Io. Go check that out. You can now start a chat with the data source right from the files and data sources table. Just click on the 3 dots at the end of the row and select start chat. So and I if I remember right, I think this is Rodolfo Novak's thing. I'm not exactly sure on that.
If somebody if I got that wrong, somebody please correct me. But I'm pretty sure that it's Novak's, unleashed dot chat. Go give it a shot. I mean, you might as well because we're relying way too much on OpenAI. And that's where pay per queue comes in. Pay per queue is a chatgpt4 pay per query over lightning service. This is great. I love this. I love this. Introducing pay per queue, a sleek and functional chat GPT4 experience which operates on a pay per query model via Bitcoin micropayments announced Matt Ahlborg. The primary use cases are making gpt4 available to users who may not want to pay for a full $20 chatgpt plus subscription.
And 2, making chatgpt4 available to global users who may find it difficult to connect with Visa, Mastercard, to OpenAI. As an example, you could run 10 to 20 queries a day through ppa.ai and still only spend $10 a month. Without having the burden of linking a credit card. Overall, I believe these 2 use cases could be really strong and that this bot could become the default default chatgpt4experience for many bitcoin adjacent global developers and professionals around the world, said the developer. Please try it out and give feedback.
And there's a screenshot this is from nobsbitcoin.com. There's a screenshot in this article from Stacker News and somebody had commented on this announcement that was placed over at Stacker News and said, nice work. Any plans or desires to reduce the reliance on open AI? And Matt comes back and he says, definitely. I plan to open up many models both proprietary and open source. For now, I wanted to focus on chatgpt4 because it is the highest quality from a working dev's perspective. And that's what we need more of. With there's 2 things here that are really, really, really important. The use of micropayments, in this case, over lightning, but we can start talking about e cash and chommie and mints and all that kind of stuff, to do the same thing. But right now, let's just look at lightning being able to make micropayments to a third party that is in turn somehow linking to chatgpt4 and then the other thing is open source models being looked at to operate alongside chatgpt4.
Because even though I'm anonymized through that micropayment on pay per queue, I am anonymized. Right? I I mean, after it's it's a basically, I my identity gets scrubbed. When I use chatgpt4 directly from open from the when I connect over to their browser, the open ai guys, they know that it's coming from my IP address. Every question that I ask, they know where I'm at. They know what I'm doing. They know, you know, what data carrier I'm using. They know everything. They know like, if if I ask the wrong question, I they're gonna know.
This detaches me from the equation of using chatgpt4 which in a lot of cases does really well for some things But you now put that on a tray and serve it up with a whole bunch of other open source models now you're cooking with gas. Because at least even if I'm anonymized I'm still feeding the machine that is chatgpt4. Right? The open AI guys. I'm helping train all their crap. I don't want to do that. I don't want them having any information about me whatsoever because that guy Sam or whatever his name is that runs that place he's an evil person I do not like him I do not want him knowing anything. I do what don't want his job or his life being any easier than it already is.
So thank God for people like Matt Alberg who are able to 1 detach me and my identity from the equation of using something like chatgpt4 and the foresight to start bringing other models online. That's going to be really important. Now, e cache, I've mentioned it, e cache hack day v 2 is taking place in Berlin on June 20 through 21st. Join us for the e cache hack day version 2 or v 2 in Berlin, June 20th through 21st, 2024. This is a small and intimate event for hackers, researchers and anyone else interested in Chaumian eCash announced callebtcallebtcallebtcallebtc We have participants from GNU, Tyler, Fediment, and Cashew.
There will be talks, discussions, and a lot of code. Our goal is to bring the developer community closer together, exchange ideas, and work on cool projects during the hackathon. And you can register at ecashhackday. Github. Io. I'm just gonna throw that up there in the chat for you guys. Ecashhackdayalloneword. Github.io, and you can go register there if you're interested. Now, Nostra development kit version 2.7 massive performance improvements. NDK is a Nostra development kit that makes the experience of building a noster related applications whether they're relays, clients, or anything else in between better, more reliable, and overall nicer to work with than existing solutions.
So the NDK version 2.7 has been released one step closer to the asymptote along with ndk2.7. Ndk cache dexi 2.3 is now live. Ndk svelte components 2.2.11 is now live. And some new things have been added. A queuing system Caching of nip 0 5 and zap endpoint information. Most applications should feel much faster because of that. Caching of NIP 0 5 ZAP endpoints is also in place. And threading utility functions to make displaying threads properly, properly defined as how Gigi likes it. And they're talking about dirgegi, also known as Gigi. He was dirgegi on Twitter.
He's I only see it now as Gigi, now that he's been doing a lot of stuff on Master. So there is that. Okay. What's hear. Oh, Bitcoin Keeper version 1.2.1 finishes us out. Taproot wallet support. Bitcoin Keeper is a Bitcoin multisig wallet with privacy and inheritance features available on iOS and Android. Bitcoin Keeper 1.2.1 has been released. You can now hide or delete keys and wallets. It has support for Taproot wallets, fee insights, you know, it'll give you like a high fee warning and other bug fixes and improvements. So if you are a user or want to go with try out Bitcoin Keeper, they have updated all that stuff. Now, that's gonna do it for the morning roundup.
Dad says jokes. Can you believe I was thrown out of my church for claiming Jesus spoke with a lisp? It was a real slap in the faith. Terrible. Awful. Awful. Don't forget to pick up your maple syrup while you can from Maple Trade. His information will be in the show notes and the show notes are now actually work. They actually work. So go I've actually also replaced his, in pub with a direct link, to, I guess I gave it the primal one, because it was a little bit shorter. I I Huddlebot, I tried I actually tried Coreicle first, but it just it the formatting looked because it's like a much longer address, the formatting, the way that I was putting it in, it just it it wasn't working for me. So I I don't know. I just wanted to give a direct link so that somebody could just click on the thing and be taken to a web browser on their phone so that they can DM Maple Trade and you can order maple syrup that's handmade. Also, get the soaps. I'm telling you, I've used the he he sent me a basket of his goodies to try out. I loved everything that I got. I still have some of the soap.
I'm still using one of the bars of soap that I got from that that he sent me months ago. That's how good that beef tallow soap is. It lasts, like, freaking forever, but but his maple syrup doesn't. Okay. He's running out quick and the fat ass, boostogram that he gave me and it was fat, wasn't because he just wanted to give me satoshis. That was what he was paying me as what he he found value of the circle p. And he gave me that value back in the form of a fat ass boostogram. Right? It's not a tip. It's a it's not a at that point, it's not even a donation. What that is is he's paying me for my service. I was able to sell some of his maple syrup because people tell him, hey, I heard about you on the circle p. I want some of your maple syrup, and he decided to cut me basically a check of what he thought it was worth.
This makes sense to me. Now, will the model always work? No. Somebody somewhere is gonna screw me out of satoshis and they're gonna get free advertising out of me. You know what? Right now at this moment, you know how much I care about that? Not. I don't. I don't care. I don't care. I don't care right now. But it's not gonna be that way forever. Eventually, I'll find out and I will care, but people like maple trade, you gotta help these guys out. Because when you buy maple syrup from maple trade or you buy a wallet from Leatherman or you visit any of the vendors in the circle p, you're not just supporting them and getting some cool shit.
You're also supporting the show. It's like everybody freaking gets something out of it. It's amazing and I'm going to keep this model alive as long as humanly possible. I've I see no problem with it other than the fact that it's going to be an accounting nightmare, but I'm not accounting for anything right now because it's just let's try this out. Does value for value work? I keep hearing about all the people that say it doesn't. It just it's never gonna work. Well, it's kinda working for me. So keep that going. Buy your maple syrup. Get some soap. Get a new wallet from Leatherman. You know? Because they're going to cut me satoshis back on the other end, and I will see you on the other side.
This has been bitcoin and and I'm your host, David Bennett. I hope you enjoyed today's episode and hope to see you again real soon. Have a great day.
Market updates on futures, commodities, and legacy financials
Updates on Unleashed.Chat, Pay Per Queue, Nostr Development Kit, and Bitcoin Keeper
