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Join me today for Episode 1098 of Bitcoin And . . . 

Topics for today:

• Aussie Tax Ruling Could Be a Win
• Leveraging Payroll: What Could Go Wrong?
• Coinbase, Strategy, and Saylor Sued
• Everybody is Buying BTC

#Bitcoin #BitcoinAnd 

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Articles:

https://cointelegraph.com/news/australia-bitcoin-tax-ruling-cgt-refunds
https://cointelegraph.com/news/franklin-launches-payroll-treasury-yield-defi
https://atlas21.com/lawsuit-against-coinbase-for-biometric-privacy-violations-in-illinois/
https://bitcoinnews.com/opinion/steak-n-shake-accepting-bitcoin-effects/
https://www.coindesk.com/markets/2025/05/19/us-30-year-treasury-yield-breaches-5-amid-moodys-rating-downgrade-fiscal-concerns

• https://www.cnbc.com/futures-and-commodities/
• https://dashboard.clarkmoody.com/
• https://mempool.space/
• https://www.bitcoinandshow.com/
• https://fountain.fm/show/eK5XaSb3UaLRavU3lYrI

https://bitcoinmagazine.com/news/abraaj-restaurants-becomes-first-bitcoin-treasury-company-in-the-middle-east
https://decrypt.co/320814/el-salvadors-bitcoin-bet-swells-to-644m-as-rally-boosts-sovereign-holdings
https://bitcoinmagazine.com/news/metaplanet-acquires-1004-bitcoin-raising-total-holdings-to-7800-btc
https://bitcoinmagazine.com/news/strategy-buys-765-million-worth-of-additional-bitcoin
https://www.theblock.co/post/354851/strategy-and-co-founder-michael-saylor-faces-class-action-lawsuit-involving-alleged-federal-securities-law-violations


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[00:00:02] David Bennett:

It is 09:33AM   Pacific Daylight Time. It is the May.   God, this year is just zipping by, dude. 2025.   And this is episode ten   ninety   eight of Bitcoin and Australia will be in today's news,   as well as Franklin. I guess Franklin Templeton, but we'll just say Franklin for now.   They're   extending   some idiocy.   We'll see if it works for them. But honestly,   this, I want to talk about this particular thing as   a trend   that I think is is sort of like a   riding the coattails   of what Michael Saylor has started.   It's different than what you think it is, but we're gonna get into that one. There is a lawsuit against Coinbase   on biometrics,   and, yes, we are going to   dive into the Steak and Shake business because I think there's I think there's some things here that we,   we need to look at. I I real I really do think about that.  

Then the yield numbers are out of control on the treasury bonds or bills or whatever the hell you wanna call them.   They are not doing what people want them to do. We'll talk about it.   There are three companies that have bought Bitcoin   last week, and two of them you know, one of which you do not.   And then we're gonna talk about El Salvador because it looks like their continual   thumbing of their nose at people like the World Bank and the IMF   is paying off   in a big, big, big, big way.   What else we got? Oh, yes.   And the aforementioned   mister Saylor,   wealth strategy   and the cofounder   Michael Saylor, is well, they're they're both being sued.  

Let's start though with Australia. Let's get down under, ladies and gentlemen, with Ezra   Raguera.   Cointelegraph   Australian court ruling   could   could, mind you, could   lead to $640,000,000   in Bitcoin tax refunds.   Yeah. Didn't see that one coming. Was not on my bingo card that a court decision in Australia could open the door to as much as $640,000,000   in capital gains tax refunds   on Bitcoin transactions   after a judge ruled   that crypto should be treated as money   rather than a taxable   asset.   Because on May,   the Australian Financial Review reported that the decision arose   within a criminal case involving federal police officer William Wheatley   who allegedly stole   81.6   Bitcoin   in 2019   in 2019.  

And at the time,   those assets were worth roughly $492,000.   But at current market prices,   that's now valued at more than $13,000,000   In the case,   Judge Michael O'Connor of Victoria ruled   that Bitcoin qualifies as a form of money   rather than property,   likening the digital asset to Australian dollars rather than shares,   gold,   or foreign currencies.   The this interpretation   could set could, mind you, could set a legal precedent,   potentially placing Bitcoin transactions   outside of the scope   of Australia's   current   CGT,   which is capital gains tax regime.  

In an AFR   interview, tax lawyer Adrian   Cartland   said the verdict totally upends the Australian Taxation   Office's   current position.   And since 2014,   the ATO has classified crypto assets   as CGT   assets.   Well,   this now means that users must pay tax   when selling or trading them. Under the ATO's guidance, any disposal of Bitcoin, including selling it for fiat, exchanging it for another cryptocurrency, or using it to purchase goods and services   constitutes   a capital gains tax event.   And this framework   has been the basis for taxing cryptocurrency   transactions in Australia   for well over a decade. However,   the recent ruling   challenges the approach   by suggesting that Bitcoin functions more like a money   than a property,   and this potentially will exempt it from capital gains tax in Australia.  

Cartland said it was held that Bitcoin is Australian money.   Quote, that is, it is not a CGT   asset. Therefore,   acquisitions and disposals of Bitcoin have no tax consequences   according to the tax lawyer.   If the ruling is upheld on appeal,   Cartland estimates that there could be potential tax refunds totaling 1,000,000,000 Australian dollars or 640,000,000   US dollars.   However,   while Cartland thinks   there could be up to a billion Australian dollars in refunds,   the ATO said there were no official figures that confirmed the amount to be potentially refunded   if the case changes how Bitcoin is taxed in Australia.  

The only thing that's gonna come out of this is possibly, and that's if it wins on appeal.   Because they like, if some the tag there's some authority somewhere in Australia is going to appeal this ruling   because of what it means.   They do not want a precedent set that means that you can just spend your Bitcoin willy nilly   without giving a cut to the Australian government as, I don't know, tribute or whatever they're calling it nowadays.   Second thing is   you're never there these people are never gonna see any re any tax refunds whatsoever. It's just not going to happen.   But if it wins on appeal,   you know, or I mean, if this if this judgment is upheld   when the inevitable appeal comes,   then it will set a precedent,   at least in Australia.  

However,   other countries will be able to in their own court systems will be able to say, look. It's not precedent here in our legal system,   but we can't just dismiss it. And then they will take the arguments from this from this case. They will   reform those arguments to fit their particular legal frameworks, and they will start making arguments   in the same way.   That's if this wins.   And we're talking about Australia here. This is a tough cookie to crack here.   Is it this these the the Australian government isn't exactly   well,   they're It's pretty much a socialist country at this point. I hate to say it. And all for all my Australian friends out there,   nothing against you guys personally, but your government as well as my government,   they all suck ass.  

So I I the only thing that we can hope for out of this Australian business is that we do actually set a legal precedent that at least one major Western country   is not going to regard Bitcoin   as property. They're going to regard it as money. We're going to have to wait and see.   And if if I'm really, really lucky,   I'll be able to catch the story when that comes out. And if I do, I will bring it directly to you. If for whatever reason I miss it and you guys pick up on it, please, please, please, for the love of god,   make sure that you tell me all about it so that I can bring it to everybody else here at the Bitcoin and podcast. Now Franklin   taps blockchain   to offer yield   on   idle   payroll   funds   as if you didn't think the stupid would be able to permeate any further into the ether. Well, yes. It's we're going there   with Ahmed Hasquinas   from Cointelegraph   who writes   Franklin,   a hybrid cash and crypto payroll provider. Ah, not Franklin Templeton. Okay. Good. Good. This is good. Franklin,   a company   unaffiliated with Franklin Templeton,   which is a hybrid cash and crypto payroll provider, is launching   a new initiative that aims to turn idle sitting payroll into an opportunity for, you guessed it,   yield.  

The new solution dubbed payroll treasury yield   uses blockchain lending protocols to help firms   earn returns   on payroll funds that would otherwise sit idle, the company told Cointelegraph.   Franklin said that its new offering   integrates   summer.fi.   I'm telling you, I'm reading this to you for a reason. It's not because I be shit coiter. I promise you.   Summer.fi,   a decentralized   finance lending platform, allows companies to deposit stablecoin denominated   payroll reserves   into smart contract lending pools.   What could possibly   go wrong? These funds   are then lent   to vetted borrowers, and companies   earn yield while retaining access to their capital.  

Companies maintain full custody throughout the process, and smart contracts   use are audited to reduce   risk. Quote, the problem that Franklin solves is,   well,   two fold.   Megan Knabb, founder and CEO of Franklin told Coin Telegraph, for companies that have already integrated crypto crypto into their balance sheets, Franklin helps them use those assets to manage their operations.   But for the broader market,   we are enabling business models of the future.   The future. The future. The future. Where money   moves instantly and more intelligently and   to be more global,   Nabb added.  

Franklin said the new offering is an alternative   to traditional treasury tools like sweep accounts or treasury bills,   which often involved operational complexity and limited returns. Furthermore,   it differentiates   from earned wage access platforms, which enable employees   to access their earned wages   before their scheduled payday by avoiding additional debt and associated costs.   Quote,   traditional payments in the next decade will run entirely on public blockchain rails as a wholesale replacement to ACH   and Swift Systems,   Nabb said. She added   that if on chain payroll products go mainstream, banks could fade into the background.  

While technology may replace many banking functions with self custodial tools and smart contracts,   regulatory frameworks will still require accountable legal entities.   The result may be zombie like institutions.   You know, banks in name only,   existing to meet compliance rules but playing a minimal role in actual payment processing, NAB said. However,   decentralized lending comes with risks like smart contract vulnerabilities   and market fluctuations.   Franklin said it aims to mitigate these by using Summer Dot Fi's audited contracts and over collateralized   lending.  

Interest in yield generating strategies within the cryptocurrency sector has surged   because   of stupidity.   Surged in recent years, driven by both retail and institutional investors seeking to maximize returns on their digital assets. And on May,   Solve protocol   launched a yield bearing Bitcoin token on the avalanche blockchain, giving institutional investors   yet more exposure to yield opportunities backed by real world assets or RWAs.   Then on May,   Ryan Chao,   cofounder   of CEO or and CEO of Sol Protocol said that the demand for yield generating strategies around Bitcoin is surging,   especially from firms seeking liquidity without liquidating their BTC.  

Again, I ask you, ladies and gentlemen, what   could possibly go wrong by lending   your employees   payroll out   to generate yield.   This is a   backbone   of a company crushing   situation.   This isn't just about walking all over retail like, you know, BlockFi did. No. No. No. No. We're gonna go after the big kahuna now.   We're gonna screw up entire companies being unable to make payroll because they were seeking yield   on idle funds.   I'm not even sure if this shit's legal.   From the company's standpoint,   I'm I'm not I'm not even getting into Franklin.   I don't care if what they're doing is is legal or not. I'm talking about the fiduciary   commitment   of the people in charge of the company and the company's funds, and that includes the company's   payroll.  

I'm not sure if this shit's legal.   I'm not sure you can leverage   payroll,   which is promised to your employees   because they have worked hard, hopefully,   for you to make you a profit, and this is their compensation.   You're gambling   your employees'   compensation,   all of their compensation, including your own if you're getting payroll checks from your own company.   Some people do, like, see you know, some CEOs do get paid directly by the company as part of payroll.   Other people get paid and compensated in in slightly different ways, but I would gather that the vast majority   of every single officer and every single employee from the CEO down to the guy that cleans the toilets   are on company payroll. And if you're gonna gamble that   because you're seeking yield,   then there's only one thing that's inevitable.  

Franklin's gonna go bankrupt, or they're gonna get sued, or something horrible is going to happen.   And your payroll, even though that they say, oh, well, the company keeps custody of the payroll. Oh, bullshit.   That's bullshit.   Then you're just at that point, you are literally playing with fake money, and you'll say, well, we do that anyway. Well, yeah. I know. I get that point. But this is this is different.   And this is one of the reasons why I wanted to bring you this story today. It's not because I'm all about DeFi. DeFi is stupid.   It may be later on when when there's less people that are scammers and more people that are actually at least trying to attain   the title of being honest,   then   maybe maybe it will have some usage. But right now, we are right back   right back to 2019,   '20 '20, and 2021   when BlockFi was making loans against people's shit   and then basically going folding up, going tits up just when FTX and Ildometer Research and everybody else just died.  

Right? This is it's this is no different. We are right back to three years ago,   and nobody's learned a single freaking lesson four years oh, okay. Four years ago, four or five years ago. It's only been five years and nobody has learned and it's not that they haven't actually learned.   What they understand, what deep what people like this   behind schemes like this, what they understand, and they may have all the best intentions in the world, but it's they're not going to survive reality.   And the reality is this.   The people behind these schemes are looking at the rest of the field and saying they still don't get it yet. We've we still have the chance   to be able to rope these dipshits in   and get yield on their money instead of actually going out and making our own money and then getting yield on that. No. No. They wanna take a cut of the yield that they promise you on an instrument that they just conjure up out of thin air. Stay as far away from this as possible. And if you are an employee and you find out that human resources and payroll   is even contemplating this, you need to make some noise because it's your payroll that's on the line.  

Now moving on to the lawsuit against Coinbase.   Apparently,   a lot of people don't like having to have their face scanned   in a biometric   fashion because this lawsuit against Coinbase   is exactly for   biometric privacy violations in the state of Illinois here in The United States   where according to plaintiff Scott Bernstein and Gina Greeter as well as James Lonergan,   In the lawsuit filed on May in a federal court, Coinbase's   indiscriminate   collection   of facial biometric data for know your customer requirements   breaches the state of Illinois' biometric   information privacy act, also known as BIPA.  

The group argued   that the exchange failed to notify users in writing   about the collection storage and sharing of their biometric data as well as the purpose and retention schedule for those data. Quote, Coinbase   does not publicly provide a retention schedule   nor guidelines   for permanently destroying plaintiff's biometric identifiers   as specified   by the BIPA,   they alleged.   The complaint claims   that Coinbase requires   users to verify their identity by uploading a government issued ID and a selfie,   which is then sent to third party facial recognition software to scan and extract facial geometrics.   This process captures biometric identifiers   without the user's informed written consent, thus violating BIPA   according to that lawsuit.  

Additionally,   the group alleged   that Coinbase   unlawfully   shared that biometric data with a third party verification provider such   as journey   oh, sorry. Jumio,   Onfido,   Authentix,   and Solaris without users' consent. Quote,   Coinbase obtains biometric data in violation of BIPA   because it explicitly directed   the third party verification providers to use its software   to verify   and authenticate users including plaintiffs,   and its software does so by collecting biometric data.   The group also stated that over 10,000 individuals have filed arbitration   demands on these issues with the American Arbitration   Society or Association,   but Coinbase allegedly   refused to pay the required arbitration fee   causing the claims to be dismissed.  

Wow. That's that's nice for arbitration. That that that bodes well. Right?   But regardless, the   the lawsuit   brings these three counts of biometric privacy law violations and one count of consumer fraud, straight up consumer fraud under the Illinois Consumer Fraud and Deceptive Business Practices   Act, and the group seeks $5,000   for each intentional or reckless violation,   $1,000   for each negligent violation,   along with injunctive relief and litigation costs. Coinbase was also recently hit by at least six lawsuits following the May 15 disclosure   that some of its customer support agents were allegedly bribed to leak user data.  

This does not look good for Coinbase,   and they're probably going to lose this this case, at least the the case for, Illinois.   And for those of you who are going, oh, well,   $5,000   for, you know, intentional and reckless violation plus a thousand each for negligent violation.   Yeah. Well and that's not, you know, that's not a whole lot of money. Well, multiply that by 10,000   at least, and there's probably gonna be a lot more than onboard on because this is a class action lawsuit. So every person   like, so every person, if there was an if it can be found that for every person on that list in the class action lawsuit   had an intentional or reckless violation against them and   a negligent violation against them, then each person will be   compensated for $6,000   a piece. And, of course, the lawyers will get at least one third of that, so $4,000   a piece. Whatever.  

Right?   The whole issue here is that Coinbase has been doing this for years, and it's just now that Illinois noticed.   I find that a little odd. But then again, maybe it was because the   flames were fanned by the fact that that May 15 news   where Coinbase got, you know, hit with this, and it wasn't a hack.   I I I said this before. If you're gonna pay people slave labor charges   so that you can save a buck on your bottom line, and believe me, I I'm a capitalist.   But at one point or another,   I'm a solid capitalist, which means, well, what's the risk reward of paying   shit wages?  

And the risk is the fact that somebody can pay that same person more   to give me access to the data that they have access to. That's a calculation   that   any sane capitalist would actually have to make. But in Brian   in Brian's case, the CEO of   of Coinbase, I don't think he makes those calculations, and I don't think anybody else does at that company either because they would have realized   saving that much by paying people slave labor because they're using third world country people for customer service,   their payout of 400,000,000   at that act that decision   of using slave labor to save money actually cost them more money in the end. That's why I'm an actual capitalist. I mean, so you're you're just a socialist. You don't want anybody make any money.  

Well, I know. I want people to not lose their money, and I also don't want people to lose their trust in their customer base because where do you think the money comes from?   And you can't be screwing up like this.   And that may very well have been the last straw for a couple of lawyers in Illinois to say, fuck it. Let's go.   You know, hell, might as well fog of war because they got, like, 10 lawsuits filed against them just for the May 15 thing.   Now we got the state of Illinois just piling on and saying, screw it. Let's let's   LFG,   brothers and sisters.  

Let's move on to some good eats where Steak and Shake is accepting Bitcoin,   its effects on retail   and ecommerce.   Ethan Berlint has it for Bitcoin news.   Yes. We talked about it on Friday. I get it. But now that the dust is settled and we've actually seen some receipts coming in,   let's kind of examine this a little bit more, shall we?   Let me just set something up. Just I just wanna make sure that I've got this remembered   just so that I know.   Okay. There we go. Now we can do it.   So   Ethan Berlint from Bitcoin News is writing this one that Steak and Shake recently made headlines by officially accepting Bitcoin payments, well, via the Lightning Network   across all, not part, but all of its United States locations.  

The integration of Bitcoin payments at over 500 locations is a monumental moment for both the fast food industry and the broader retail sector.   This is not just something that Steak and Shake is testing in a handful of locations. They're doing   it full scale,   fully embracing Bitcoin. With more than a hundred million customers a year,   Steak and Shake's integration of Lightning,   makes it easier than ever to use Bitcoin in a day to day life. Buying a burger and a steak with Sats, well, that's now a real option,   and the process is straightforward.  

Customers simply scan a Lightning QR code at the register,   completing their payment in seconds, while Stake and Shake receives instant USD conversion,   ensuring price stability and ease of use.   So what does this mean for Bitcoin and ecommerce?   Well, for starters,   stake and shake becomes   the first of eventually many to fully embrace a digital world.   As Bitcoin continues to grow, consumers will continue to realize the benefits of saving in a currency that is truly scarce and decentralized.   That's a huge step forward for Bitcoin as it shows that it is not just for holding, it's for spending too.   And by using the Lightning Network, Stake and Shake is helping prove that Bitcoin can scale for everyday transactions.  

This now creates a seamless checkout experience, making Bitcoin a viable alternative to credit cards and cash.   And more importantly,   it signals a significant shift in mainstream attitudes towards Bitcoin.   As a well known brand across America, this move serves a powerful endorsement,   likely to influence other chains and retailers to consider similar integrations.   Accepting Bitcoin as payment can open the door to new demographic or tech savvy, financially engaged consumers   who prefer digital assets.   As we all know,   companies that adopt Bitcoin receive a fascinating amount of love from the Bitcoin community, and I would assume Steak and Shake will be receiving the same amount of attention.  

Yeah. Pausing just to say they are. From a business perspective,   accepting Bitcoin has become more than just a payment method. It's now a marketing tool. It sets your business apart and gets people talking about your business. And in a crowded market,   that kind of edge kind of matters.   Stake and Shake's embrace of Bitcoin is likely to accelerate the adoption of digital assets in both physical retail and ecommerce   as more businesses witness the operational   and marketing benefits industry experts anticipate a ripple effect   that will increase interaction between consumers and digital currencies,   further   regulatory clarity   and   bring continued innovation in payment technology.  

Yay.   Steak and Shake's nationwide Bitcoin payments rollout is more than a novelty.   It's a pivotal development for digital payments, setting a precedent for other retailers and signaling the growing integration of digital assets   into everyday   commerce.   Okay.   There's a couple of things here before we move on. I want to say this.   This whole thing about accepting Bitcoin as a payment can open doors to new demographic   of tech savvy, financially   engaged consumers who prefer digital assets.   There's a bit it's not that the it's not that the author is confused, but I'm starting   when I see things like this, I automatically   well,   I start thinking about this whole thing about we keep telling people that you wanna hold Bitcoin.  

You wanna you wanna save in Bitcoin.   And   I think one of the things that has happened to the financial literacy of of many people in The United States   is that if you're saving, that means that you're not spending.   You've gotta save in in   in I think that this is a feature of what happens when you completely destroy   a fiat currency.   And the people that, you know, used to be able to rely on it have forgotten what its use is. It's for saving   and   spending.   You save in the money that you intend   to spend.   One of the problems with Bitcoin is that it has a tendency to go up quite a bit.   And, yes, it also has a tendency to go down.  

But I think people more moreover, I think what really is driving   this I don't wanna spend that which I save in is that they keep seeing it go up. We've never seen this before. Not really.   The gold holders will say, well, we've been experiencing it forever. Yeah. But not   not like this. This is this is like orders of magnitude difference.   Right? And nobody takes gold. I can't go to a Taco Bell and give them an ounce of gold and say, I need two burritos.   How are they gonna make change? They're they're not an exchange window for gold.   Right? Nobody and I can't shave off. They're not they don't have a gram scale at Taco Bell. No. I   try not to eat at Taco Bell. I'm just using it as an example. But I'm not gonna go in there with a knife and shave the edge off of a Krugerrand,   you know, gold ounce, and then, like, you know,   point five grams of gold will get me a taco.  

Nobody does that shit.   But lightning   makes it really easy   to do this.   And I so I think we're we're gonna see is some short term to midterm,   for lack of a better term, confusion as to whether or not people should spend their Bitcoin.   I do.   I I do. I I I spend Bitcoin. I do it quite frequently.   And people, well, you're dumb.   Well, I'm at one point or another, I'm going to die.   I still need food. I still need to pay, you know, electricity bills. I I I'm I'm good with it. I mean, sure, I wish I didn't have to, but sometimes I do have to.   But it doesn't mean that I get   I I'm not gonna just stop myself from doing it. But I think this is a   I think this is a major friction point.  

Is this   concept of saving   and then spending that which you save?   Is it well, are we spending or are we saving?   And I think that that friction was caused by the breaking   of fiat   fiat money.   But here's the other thing,   is that I I I have noticed this on a couple of on a couple of these receipts   that people took a bunch of pictures of over the weekend, but then going to Steak and Shake, and they were taking pictures of their receipts. And I've seen at least a couple   that at the bottom,   it says   it has a certain amount of information. And everybody's like going, oh my god. Look at this. It's paid in sats. It says it says right here, amount paid,   4,953   sats.  

And everybody was looking at it.   But below that, the gate gives an exchange rate   of 1 u this is on the printed receipt   from Steak and Shake.   It gives the exchange rate at the time of purchase of 1 USD   to however many Satoshis and and, like, a fair amount of decimal points that don't make any sense to me, but I won't get into that right now. The point is is that everybody's looking at this, you know, that on the receipt, it says the amount paid in sats,   and then there's this exchange rate. But below that,   it has the words fiat amount.  

And that was the important one because I've never seen that on any receipt ever in my entire life. It just says it'll say, like, $10 USD,   Amount paid, $4   USD.   Amount paid, 3   with a dollar symbol in front of it. That, we're all used to.   But I don't think anybody's ever seen, especially from   a dyed in the wool American company that is a corporation that has point of sale machines that   generate receipts in printed fashion,   where very clearly and very legibly written is fiat amount.   Ten years ago, if you use the word fiat, nobody would know what the hell you were talking about, like, at all.   And now   it's on stake and shake receipts. Now somebody came back and said, yeah. Well, that's just what this particular NIM,   you know, had on on his,   in his wallet.  

And I'm not sure how that actually works. And what I mean by that is I think what he's trying to say is that this information that I'm reading to you was somehow or another added to the receipt by the fact that somebody had programmed their wallet to actually   send that information to the receipt.   I don't think that that's actually what's going on   because I've seen more than one receipt actually say this, and it's not the same guy. So   I I am still looking into this,   but I find it fascinating   that if 100%   true,   this will be the very first time in the history of receipts that people get when they spend their money on goods and services   that it's written as they spent   fiat   dollars.  

I think that's really interesting. Let's run the numbers.   CNBC futures and commodities.   West Texas Intermediate Oil is up point 8% to $62.99   a barrel. Brent, North Sea up, two tenths of a point to $65.54.   Natural gas tanking   6.21%   to the downside, and gasoline down point 4%   to $2.13   a gallon. All of your shiny metal rocks are doing very, very well this morning, including, and at almost the top of the stack, gold, one and a half percent to the upside,   32, 30 5, and five dimes. Silver is up point 6%. Platinum is up one and a half. Copper is up 1.7%,   and palladium is up two and a third.  

Most of ag is in the green today. The biggest winner is is gonna be coffee? Yep. 2.71%   to the upside. Biggest loser today is rough rice point 8% to the downside.   Live cattle is up a half point. Lean hogs are down point six. Feeder cattle   up a mere tenth of a point, while the Dow is   up a third of a point,   and S and P is up well, actually, it's crab walking itself sideways 0.04%,   but in the green.   Nasdaq is down 0.03,   but in the red, and S and P is down almost a half point.   Now treasury yields are out of control, and it's actually kind of frightening,   at least to the people at treasury, the Federal Reserve,   and, you know, Trump is gonna be walking all up and down Jerome Powell for this one because   the yield on The US Thirty Year treasury bill crossed 5%   for the first time since last April, reaching an intraday high of 5.011%.  

And this move comes in the wake of Moody's   downgrading   United States credit.   We have been stripped   of our triple a rating   due to mounting deficits and escalating   interest expenses. Ladies and gentlemen,   it is a straight shot to the bottom of the third world countries from here. Let's see how fast we can go. Because the last time the long end of the yield   reached 5% was April   during the so called tariff tantrum,   which triggered sharp sell offs in both crypto and US equity markets.   Now at the time,   Bitcoin was hovering near its local low of around 75,000.   Of course, it's since rebounded and strongly because it's about a hundred and 3 to a hundred and $5,000.  

The last time the thirty year closed at or above 5%   was 10/31/2023.   The highest closing yield in recent memory was 5.11%   on October the nineteenth of twenty twenty three, the highest since February,   which was nearly eighteen years ago.   The current yield is just 12 basis points away from surpassing that milestone, said Jim Bianco,   head of Bianco Research.   In addition,   The United Kingdom surpassed China in March to become the second largest foreign holder of US treasuries with holdings totaling   $779,300,000,000,   trailing only Japan, which remains the top foreign creditor.  

Both China and Japan   have continued to reduce their US treasury holdings over the past twelve   months, underscoring the growing need for The US to attract new buyers for its   shitty ass debt.   As the US Treasury faces growing deficits with the potential of more bonds being issued, because they always issue bonds,   increasing supply and thereby pushing yields higher while prices will fall.   Meanwhile, Nasdaq futures are down around 2%, blah blah blah blah blah. Okay. So the real news here is that they cannot get the yield under control,   And this is going to fuel the fire for Trump   in being able to say, Jerome Powell,   if you do not reduce yields,   we're going to have a real issue, and you're going to be the center at it. And don't don't make any mistakes here.  

Orange man is the best probably one of the best marketers you've ever seen. You may hate him. You may love him. You may be neutral on him, but one thing he is very, very effective at is telling a story.   And for those people who he went bankrupt, you know,   I'm looking at Mar A Lago. I'm looking at several   golf courses. I'm looking at several high rise five star class hotels. I'm looking at restaurants. I'm look and I still can't find a situation where whatever bankruptcies he's gone through seem to affect his wealth. Because people go, oh, well, now he's poor. I I'm I'm sorry. I missed that. I don't think that that's actually the case.   I'm what I'm getting at here   is that he's successful,   whether you love him or hate him.  

And he's successful. One of the reasons why is because he can tell a story, because he understands marketing.   He understands how to get a message across. He understands delivery. He understands venue. He understands the whole fucking thing.   And if you think he doesn't,   well, I feel bad for you because it's very clear that he does understand all this. And if he's got and he already does have Jerome Powell in the crosshairs,   all he needs   is to show a graph   like the yield curve that we see today   to further inflame   and fan the fire   of getting Jerome Powell and putting pressure on his ass to do something at the very next Fed meeting.  

Now it's possible   that something can break in the next twenty four hours to sometime this week that will cause   the yield to go back down.   But right now, it's not looking good. It's just not looking good.   But Bitcoin is looking fair. We dude, we hit a we hit a new all time high today.   So or sometime yesterday, I think we hit a hundred and $7,000   and immediately got rejected off that song, bitch. We went all the way down to a hundred and 2 thousand. And now it looks like we've got some buoyancy at a hundred and 5,120.   That is a $2,090,000,000,000   market cap, and we can get 32.3   ounces of shiny metal rocks with our one Bitcoin,   of which there are 19,866,753.97   of. Average fees per block are slightly elevated at 0.05   BTC, taken in fees on a per block basis.  

Looks to be about 22 blocks waiting to clear with a hundred no. Hundred. 40 thousand eight hundred unconfirmed transactions,   high priority rates,   11 Satoshis for b vByte, so it's kind of expensive right now. Although, honestly,   it's really not that bad. 7 satoshi is gonna get you in for low priorities. And mining,   we had a difficulty adjustment.   We ended up with a 2.13%   adjustment to the upside.   We are now looking at a half point adjustment to the downside coming in 2200   blocks, roughly eleven days.   Currently, the hash rate sits at 850.5   exahashes per second.  

Not too shabby.   A reminder to go to bitcoinandshow.com.   That is bitcoin and show, all one word, bitcoinandshow.com.   Sign up. Give me your email. I promise I'm not gonna give your email to anybody. I'm not gonna sell it to anybody either.   It's mine.   Well, it's yours, but you're giving it to me and I'm going to   not do something stupid with it like sell it or give it away.   I'm it it is a new website.   Just trying to get it a little bit of traction. All of the episodes are are like, like, there's, like, write ups for all the episodes, all the show notes there. There's and each one has a URL directly to fountain.fm.   I have asked fountain.fm   if they are going to have an embedded player,   and they said they're working on it. And as the minute that that fountain.fm   comes up with an embedded   player, I'm going to slip that in there instead of making you go to fountain.com. But   podcasting two point o is very new. Fountain is right on the on, like, like, one of the heads of the serpent   on podcasting two point o, and I wanna support them. And that's why whenever I release, you know, a show, I'm always pointing people to fountain.fm,   which is subsequently why 66%   of my listeners   listen to the show on fountain.fm.  

But please,   please, please go to bitcoin and show.com   and sign up. From stake my shake,   Friday's episode of Bitcoin, and I gotta say   congratulations   to our brother in arms, Pies,   who is tying the knot.   He got engaged over the weekend.   Tell Pies how much, you know, how much give him congratulations.   Send well send well wishing. Do all the things. Shake all the hands.   You know, provide Pies with all the memes.   Please, please, please welcome   to what is soon to be our newest   married   guy. From progressively worse, 1,000 sat says, let's start this week on the right foot.   Much appreciation for the work that you continue to do. Thank you. No. Thank you. Psyduck with 700 says   Psyduck.  

Turkey with 500 says nothing.   Progressively worse with   another 500 sat says   Psyduck.   Yodel with 444   sat says, great ways. Have a good weekend.   Perma Nerd with three thirty three says, you may think this podcast is about Bitcoin. However,   it is actually focused on none you bidness trying to read terrible grammar.   Give it a listen and laugh with me as he stumbles over the verbal diarrhea that now passes his editing.   The podcast pairs well with Oshi bars.   Apparently, they taste so good, you don't even have to be high to enjoy them. Use the promo code Bitcoin hand to show some love. Yes. That is correct. Please do show some love. Now from   oh no actually that's it oh I I'm so sorry I came to the end of that I didn't even see it that's the weather report   Welcome to part two of the news you can use where we will continue to sort out and figure out how to fix terrible grammar. Maybe it will not come, will not come from Bitcoin Magazine's   Jenna   Montgomery,   who is writing that   Abraaj   Restaurants   becomes first Bitcoin treasury company   in The Middle East,   and it's a restaurant group.  

Today, it was announced that Al Abraj Restaurants Group BSC   has now become the first publicly traded company in the region   to adopt Bitcoin as a treasury reserve asset.   The Bahrain   based hospitality firm announced today that it had acquired 5 Bitcoin   for its balance sheet with plans to significantly increase its allocations over time.   Quote, our initiative towards becoming a Bitcoin treasury company reflects our forward thinking oh, god. Here comes the suit speak.   Our forward thinking approach and dedication to maximizing shareholder value. There it is.   It's   maximizing   shareholder value,   forward thinking approach.  

Man, those are   the second you see that, you should just stop listening. I'm not even gonna read the rest of this mission statement because it's gonna be suit speak. But the decision   makes a   not only the first in Bahrain,   but also in The GCC   and wider Middle East to publicly hold Bitcoin on its balance sheet. The investment is a direct response to growing institutional interest in Bitcoin and comes amid what appears to be a regional shift towards digital assets.   Abraj's strategic partner in the transition is ten x capital, which is a New York based investment firm with a strong track record in digital asset treasury management. I've never heard of them before, but ten x previously advised companies like Nakamoto on its $710,000,000   Bitcoin focused financing round.  

Y'all should just use Unchained Capital.   Quote,   now I'd like to congratulate   Abdallah Issa and the team at Abraj   for adopting Bitcoin   at the corporate treasury level, finally enabling anyone in the GCC with a brokerage account to gain Bitcoin exposure,   said Hans Thomas,   CEO of ten x Capital.   Quote,   Bahrain continues to be a leader in The Middle East and Bitcoin adoption   backed by a forward thinking regulatory framework.   Forward thinking. I'm so forward. I think so forward. I'm over my skis.   Thomas added, quote,   the GCC   with a combined   GDP   of $2,200,000,000,000   and over $6,000,000,000,000   in sovereign wealth funds   has, until now, lacked a publicly listed Bitcoin treasury company like Strategy,   Tesla, or Meta Planet,   and that changes today with Abraaj's   historic Bitcoin purchase.  

I'm not sure if it's actually historic, but, hey, you know, more power to you. Abraaj said that it will continue to work under the regulatory   oversight of the Central Bank of Bahrain   and has pledged full compliance. Oh, pledged. I pledge allegiance   with all digital transaction laws.   Oh, god. This is just amazing.   Pledge.   We need to stop using language like this. This is not King Arthur times. You know, Guinevere isn't hanging on the, you know, out of the tower throwing, you know, handkerchiefs down to her knight in shining armor and shit like that. We need to stop using shit like pledge.   Yes. I said pledge of allegiance as a as a kid in all my schools. I I get I never really hacked, you know, had hackles raise up on my neck then, but, you know, lately,   seeing a whole bunch of shit like this and the the crap that we're seeing around the world,   the the word's starting to get a is starting to get a little worn. I'm just saying. I'm I'm I'm just saying, man. But,   let's see. The company will adopt oh, the company will adopt robust custody,   risk management, and governance protocols for its Bitcoin holdings. Of course, they give no details   as to what that is, but it doesn't matter. It is a restaurant. It is Bahrain.  

It is The Middle East, and they're apparently the first company that is publicly traded in the region on their stock exchange   with which is nothing to sneeze at. $6,000,000,000,000   in sovereign wealth funds and $2,200,000,000,000   in combined GDP.   This is, you know, I mean, it's only 5 Bitcoin. I get it.   But   think about it this way.   You can't everybody can't be a sailor because, you know, they're not psychotic.   I don't mean to pick I'm not picking on sailor. I really am not. But think of it in terms of farming.   If you've listened to this show for any length of time what so whatsoever, you know that I'm interested in agriculture and ranching   and soil clearly because that's without soil you're not doing either farming nor ranching and you're going to just well it's not gonna matter   but there's a lot of regenerative   practices that you can use on your farm and ranch   to increase the health of your soil. And by doing that, you actually increase the amount of food you can grow,   whether it be for humans or for animals, like cows on on a ranch.  

However,   if you walk up to a farmer that's a conventional farmer today and say, hey. You and your thousand acres. By the way, a thousand acres, for those of you who don't know, it's a mile and a half long by a mile and a half wide plot of land,   roughly. That's about a thousand acres.   That's a lot of land.   And there will be farmers like where I live in the Palouse region of Eastern Washington. You'll have a lot of farmers that are basically on either, you know, a thousand or 1,500 acres, and they either own it or they lease it, but they're just all wheat or rye or barley or soybean or whatever. They grow a lot of lentils out here too.   They also grow a lot of garbanzo beans, but if you were to walk up to them and say, hey. You need to stop doing what you're doing. You need to go regenerative agriculture all the way. You need to plant cover crops and you need to stop using herbicides. You need to stop using pesticides. You need to stop tilling your ground. You need to make, you know, no more than two passes with a tractor. And you do all this shit. If you convince a farmer to do that, you know what's gonna happen to that farmer?  

The farmer's gonna go out of business,   and their family's gonna have to sell the land   if they own it, or they're gonna have to give up their lease if they don't own it, and they're gonna have to go find something else to do because you basically just destroyed that farmer's livelihood.   And this is coming from somebody who appreciates regenerative agriculture, and I can't outstand conventional agriculture.   So what do you do?   How can you   and and the reason why they'll fail is because they won't get any yield. It takes it takes it takes   a structured   approach   to flip your farm over   from conventional   chemical based agriculture   to a regenerative based agriculture.  

Will it work? Yeah. But you can't do it in one season.   And that's what I'm getting at. Oh, it was only 5 Bitcoin. Yeah. Even I'm even I'm having that kind of allergic reaction. It's only 5 Bitcoin.   What you'd wanna do is you wanna take that approach.   You wanna dip your toe in the water. And if you're a farmer or rancher, what you do is you sacrifice   a couple of acres of your farm or your ranch,   and you turn that over   to regenerative agriculture, and you watch it for three years,   and you watch what it does.   And when you see what it actually does, all of a sudden, you want to apply that to your other thousand acres.  

You I won't have to tell you again. You'll do it all by yourself   as long as you as long as you can say,   an acre is not gonna kill me. I can do an acre. I can do that.   That's what these guys are doing, and that's why I don't give them any any I don't really have any problems with them   only getting 5 Bitcoin. It's gonna be fine, guys. It really is. It's gonna be fine. Now moving on,   Meta Planet   acquires 1,004   more Bitcoin raising its total holdings   to 7,800   bs BTC.   So they're they're just   they're moving on.   Strategy   has also purchased Bitcoin as of all last week. They've added an additional $765,000,000   worth of Bitcoin   because strategy   acquired that for well, they acquired 7,390   Bitcoin for that price according to form eight k filed   with the SEC   on Monday as the company continues its aggressive Bitcoin accumulation strategy.  

So all last week,   Michael Saylor in strategy was buying more Bitcoin.   And what happened   when we saw all this?   The price of Bitcoin hit a hundred and $7,000   and immediately fell to a hundred and 2. So basically, a lot if we had a $5,500   candle in the direction that we do not like almost immediately.   And I I cannot   I cannot iterate enough   how many times I see on both   primal or not primal, on Nostr   and on Twitter,   how many people are saying the same thing.   How is it that all these people can be buying so much Bitcoin and the price barely moves? I wish I had an answer for you. I really do.   Because even I'm starting to fall in line with that thinking   to the point that I start going, well, maybe it's maybe it's paper Bitcoin,   or maybe there's some kind of suppression tactic   with the use of futures contracts.  

I don't know.   I don't   know. Because I see this amount of Bitcoin going to to, strategy and to Meta Planet. Oh, and by the way,   Meta Planet,   the   the whole Meta Planet thing,   I hold on. I I gotta go find it again. Sorry. Hold on. I lost it. Okay. Here it is. Here it is. I I've I've found it again.   This is about meta planet.   So we're backing up. Okay? So we're we're done with strategy, by the way. We I mean, we   we don't need to go through the history of of what strategy was doing, like, four years ago, like, for the eighth time.   This is interesting, though. About Meta Planet,   over the past thirty days alone, Meta Planet added 3,275   Bitcoin, aggressively expanding its treasury amid a 189.1%   year to date yield on Bitcoin.  

Metoplanet strategy has delivered significant returns to its shareholders   with the BTC yield reaching almost 50%   quarter to date and since July 2024.   The firm has reported quarterly   BTC yields of 41%,   three hundred and nine %, ninety five %, and 47%   driving strong Bitcoin based performance   even amid capital market activities and dilution from share issuances.   So Meta Planet, at this point,   posted its best quarter ever.   This is if you remember on Friday or Thursday, I can't remember which, I was talking about Meta Planet kind of being a failing hotel   management company.  

And, like, at one point or another, I'm sure they were doing okay.   They probably had, like, a lot of assets in hotels, and they were managing stuff. And they had contracts, and they had, like, money coming in. And and they were doing okay, but they just started going south like a duck in winter, and then they found Bitcoin and started saying, screw it. We'll buy with whatever cash we got on hand. And then they started printing debt instruments because it was working so they could buy more Bitcoin. So they they definitely took a page out of Michael Saylor's playbook.   And they have posted   their best   quarter   ever.  

In the first quarter of fiscal year twenty twenty five,   their revenue hit 877,000,000   yen. That was up 8% quarter over quarter.   Their operating profit hit 593,000,000   yen. That was up 11%.   Assets jumped 81%   to 55,000,000,000   yen worth, and net assets surged a 97%   to 50,400,000,000.0   yen.   No one can say that this strategy doesn't seem to work. Now you'll people will say, yeah, that's in the short term. What happens when what happens when the bear market happens? Well, that's that's gonna be a whole other raft of news stories,   isn't it? But we're not there yet.  

And I don't know I don't know   I don't even know if we hit a bear market. And if we do, I don't know when. I mean, surely at one point or another, a bear market comes in. I'm alluding to have we broken the four year cycle. I don't know.   I I have no idea for it. If if this hundred and $7,000   Bitcoin that we saw yesterday afternoon   actually signals the top top. I don't know. I honestly, I'm I'm exhausted by trying to care about it,   so I'm just not going to worry about it.   But the best quarter ever for a company that was essentially a failing hotel management company,   That's not bad,   considering all they did was buy bitcoin.  

I hope they are able to pay back the debt they used   to buy that bitcoin, but   meanwhile,   strategy has their own hands full,   because the cofounder and strategy,   they both face class action lawsuits   involving alleged   federal securities law violations.   So here we go. By the way, this is written by   Sarah Wynne from the block.co.   Bitcoin Treasury Company Strategy   and Michael Saylor are facing a class action lawsuit. Oh, a class action lawsuit from investors   who say the company made, quote, materially   false and misleading statements   about its profitability.  

Through the law firm, Pomerantz LLP on Hamza,   along with other investors,   filed that lawsuit on Friday in US District Court for the Eastern District of Virginia,   and the lawsuit alleges   that strategy embellished its forecasted profitability of its Bitcoin focused investment strategy   and risks tied to Bitcoin's volatility   and is focused on the period between April of twenty twenty four and April of twenty twenty five, quote, as a result   of defendant's   wrongful acts and omissions   and the precipitous decline in the market value of the company's securities,   plaintiff and other class members have suffered significant losses and damages   according to the complaint.  

CEO, Fong Li, and chief financial officer, Andrew Kang, are also listed as defendants.   As of Monday,   strategy says it holds a total of 576,230   Bitcoin worth over $59,000,000,000   bought at an average price of 69,726   per coin   for a total of around $40,200,000,000   Bitcoin's price has ebbed and flowed over the past few weeks and as of Monday morning was hovering close to a hundred and 4,000.   The lawsuit   says strategy adopted financial accounting standards board standards at the beginning of 02/2025,   which requires public companies to, quote, measure their crypto assets at fair value in their financial statements with gains and losses from changes in their fair value of those assets   recognized   in net income   in each reporting period   called ASU twenty twenty three dash o eight.  

Before that, strategy used a different model, which meant that the firm just needed to recognize the impairments   in the event of price depreciations   and would not mark up for price increase unless the assets were actually sold according to the complaint. Quote, defendants   consistently   provided rosy assessments of strategies performance as a Bitcoin treasury company   following its adoption of ASU twenty twenty three zero eight,   they did this in part by reporting   and projecting   positive BTC yield, BTC gain,   and   BTC dollar value gain results while omitting   the immense losses the company could realize on its Bitcoin assets after accounting   for these assets under a fair value accounting methodology,   those the investors have alleged.  

Strategy has not responded. Quote,   the complaint   seeks unspecified   damages to the class, interest attorneys fees, costs, and others other relief.   The firm said, quote, we intend to vigorously defend against these claims.   At the time, we cannot predict the outcome or provide a reasonable estimate or range of estimates of the possible outcome or loss,   if any, in this matter.   This is actually a fairly serious lawsuit and if they win,   could set a pretty nasty precedent   going forward.   However,   it really boils down to exactly   what did MicroStrategy   do   when they reported   their numbers in April.  

What I saw was a pretty   okay. I'm not Ernst and Young. I don't work for, you know, like, one of the big four accounting firms.   Right? But I can read a balance sheet.   And they reported some pretty fundamental losses. I mean, their revenue was, like, nonexistent.   Their operating costs   soared.   That was all in their statements.   So I'm not exactly sure what the defendant class   is looking at.   I hope that more information on this story comes out, and when it does, I will let you   know.   Last up for the day, El Salvador's Bitcoin bet swells to $644,000,000   as rally boosts sovereign holdings. Vismayev   from Decrypt   is writing this one, Bitcoin's rally has lifted the value of El Salvador's holdings   as the asset continues to prove itself a savvy investment for Central America's smallest nation.  

President Bukele shared a screenshot Sunday showcasing how the country's Bitcoin holdings   were worth over $644,000,000   following an increase of 30 Bitcoin last month. I guess he is still buying, in fact, one Bitcoin today.   Though the total has since retraced   slightly to around 637,000,000,   El Salvador's Bitcoin national office says its stash has ballooned   more than a hundred and $37,000,000   over the past thirty days, and the boost comes   as Bitcoin began flirting with all time highs on Sunday, briefly touching   a hundred and 6,005   before settling to a hundred and $3.01 72.  

Quote, Bitcoin is rallying due to a combination of macro relief,   strong ETF inflows, and growing expectations   that the Fed will maintain policy flexibility   amid softening economic   data.   Bitfinex analyst shared a note in,   or shared in a note for decrypt.   El Salvador has quietly continued accumulating Bitcoin despite securing a $1,400,000,000   International Monetary Fund loan in December,   which required rolling back public sector crypto involvement.   So the thing I hear is that El Salvador's   bet is,   like   Meta Planet, is doing very, very well.   Strategy   from an asset on book standpoint is also doing very, very well. Their business model is in the shitter.  

But   as far as if they're just gonna float on their treasury   because, you know, like Michael was saying, it's time to start using your treasury   as a vehicle for wealth creation.   And nobody's really ever, you know, really ever done that before because everybody relies on their revenue model. There's nothing wrong with that. That's the way business has been done for centuries, so   why change now?   Not really a whole lot of people have actually leveraged their balance sheet in such a way except for   people like hedge funds because that's their business is leveraging   money.  

You know,   Warren Buffett is a master   at leveraging   money.   I am actually kinda surprised   that it's taken this long   for this kind of balance sheet leverage to come into play   at the corporate level on companies that are not actually hedge funds.   They have a completely they they, you know, like strategy. They they build software. They used to build software. I I'm pretty sure that they don't anymore, except they are coming out with an AI, you know, product, but we'll we'll we'll have to see if they actually release that thing. It's just a rumor at this point as far as I'm concerned.   Meta Planet managed hotels.  

You   know, like similar scientific, they build medical devices.   That's that's their model.   Companies like this, generally speaking, they just keep cash on the balance sheet to weather storms.   They never really   leverage it. And   I kinda can't believe that it's really Mike that came along and said, not only are we gonna start   using   our balance sheet to do shit with,   we're gonna do it with Bitcoin.   And that leads me to my final, you know, my final note about Steak and Shake.   Because if you noticed in the story that I read to you, Steak and Shake is immediately converting upon receipt   in an automatic fashion.  

Bitcoin   directly to United States dollars.   People yeah. I've seen people really kinda lose their lose their mind on that. Zulu, they're automatically selling their Bitcoin.   Okay. So,   again, I can't I'm not gonna be able to go tell a conventional farmer to flip their thousand acres to regen ag   because if they do, they're gonna die.   I wouldn't   I would be morally   I would be bereft morally   in doing that, in trying to convince a farmer   to flip their field in one single season. Like, hey. After harvest this year, you're gonna go regen, and somehow or another, I I talk real pretty and and and he and the farmer believes me and then all low and behold,   next year,   the the whole farm's regen. Yeah. Gonna die. That that that farm's gonna fail. It's gonna have no yield.  

Zero yield.   If it has any yield at all, it won't be enough to make bill. Alright? So   I can't expect Steak and Shake to not do the test.   Sacrifice   a single acre.   Hell,   sacrifice a half acre. That's half a football field.   You'd be able to see shit happen on a half a football field if you were, like, not applying pesticides and herbicides and you watch it for three years. That's gonna be noticeable.   So what happens if   if enough people start going to Steak and Shake that they go, well, how about we do this? Instead of immediate conversion of a hundred percent of everything that we get, we peel off, I don't know, 1%   and keep that as actual Bitcoin on the balance sheet, and let's just see what it does.  

And what if it does well?   Of course, then again, the other question is what if it does poorly?   But you gotta start somewhere.   The 5 Bitcoins sorry. There's a trash truck outside.   Yeah. Go away. Go away.   What if   the farmer just does a half acre?   What if,   you know, the the Middle Eastern restaurant just does 5 Bitcoin?   What if   Steak and Shake just decides to accept Bitcoin through lightning, make it easy as shit for all? I mean, they don't need, honestly, they probably don't really even need to train   their their,   not customers, but their employees very much on how this works because it's all automated through the through their, kiosk,   through the through the cashier screen.  

Right? It just presents you with a QR code, you do it. That's all that's all done on the back end on on Steak and Shakes, whoever's doing their networking IT stuff.   Right? It's not isn't this is not that difficult.   It's not that difficult to sacrifice a half acre.   It's it's what you see grow out of that. That's what's going to make the difference.   So if for whatever reason you feel like going and getting a burger   and you wanna get it at Steak and Shake and you wanna spend your Bitcoin, Don't let anybody make you feel bad because you spent your Bitcoin, and 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.