Today's election of a libertarian candidate to the presidency of Argentina is bound to cause waves in world politics. With inflation approaching 150% something needs to change. Time will tell if this is the right move.
BTC at time of recording: $37,347
Block height at time of recording: 817,565
News and Notes
https://www.cnn.com/2023/11/19/world/argentina-vote-milei-massa-nov-19/index.html
Music Credits
Protofunk by Kevin MacLeod
Link: https://incompetech.filmmusic.io/song/4247-protofunk
License: https://filmmusic.io/standard-license
Ethernight Club by Kevin MacLeod
Link: https://filmmusic.io/song/7612-ethernight-club
License: https://filmmusic.io/standard-license
Website
Podcasting 2.0 Apps available at http://podcastapps.com and Value4Value information page available here: https://value4value.info
I can be reached by email at [email protected] and on Twitter at McIntoshFinTech. My mastodon handle is @[email protected]. Looking forward to hearing from you!
[00:00:00]
McIntosh:
Hey, Sat Stackers. Today is November 19th, and this is episode 145 of generation Bitcoin. I'm your host, McIntosh. And today's episode is did Argentina win? Alright. We're gonna do the market update, and we are going to talk about Argentina today. A few other things as well. We're gonna talk about our supporters, little bit of news, and call it a day. It's been a week since I last talked to you. Dear listeners, and thank you for being patient. I did not record on Thursday. Just life, you know, just too busy, to be honest.
And, shame on me. I guess that shouldn't be the case, but, but it was. It was more or less work related all day long, from morning until late at night and and Wednesday night as well. I do normally on Wednesdays record and then put it out on Thursdays, but, sometimes I record on Thursdays and put it out on Thursdays. Did not make either one. So, again, I apologize. Market update. Well, If I go back to what I talked about a week ago, what did I say? I said, something to the effect of I really thought it looked like it was going to go lower, but it really wants to go higher, if that makes sense. Just kind of the way that I don't know. At some point, maybe you kinda get a feel for this. I don't know.
But with as much activity as we had had, even as bullish as the charts had been, it was time for a pullback, and we got that. So if we go back 7 days let me adjust my chart real quick. I do know the weekly closed last week, which I we reported on last episode was 37,000 and seventy. So we have our market now of what? 37347. So, basically, it was, like, $300 higher right now, but that doesn't tell the whole story. 1, 2, 3, 4, 5, 6, 7. Right. So we dropped yeah. So Sunday wasn't too bad, but we were basically at our high when we open not too far below it. We went, like, a pop couple 100 up, and then we fell. And then Monday, we dropped. Tuesday, we dropped all the way down to 34 is in 600 nope. 34,700.
I'll get it right in a minute. 34, yeah, 34782, somewhere around 34,800
[00:03:21] Unknown:
800. And then the next day, so we're talking about Wednesday, we went all the way up to 37985. We touched 38,000,
[00:03:33] McIntosh:
and then we went right back down. It was it's been a roller coaster of a week, really, but we've come right back up over the last 1, 2, 3 days. Now we're opening the 4th day. So we're right back where we started. And I was pulling back a little bit, of course, looking at the overall patterns And what I'm seeing come apart come about right now is a ascending channel. So you've got basically 2 lines that are parallel to each other that are going ascending. You're getting higher highs and lower lower highs. Yes. That makes sense. Higher highs and lower highs as well. So and it's in this kind of upward angle.
This is a bullish pattern. Normally, we would break upwards out of this. And what we are doing and what we have been doing, in fact, for the last roughly 21 days, not 21, almost a full month. October 24th is kind of when this pattern started.
[00:04:45] Unknown:
So 3 day 4 day 4 or 5 days from being a full month,
[00:04:51] McIntosh:
we've been in this bullish pattern. The expectation would be ultimately, we broke high. Now what we saw last week and what I was describing, we've we've had so much bullish upward. Yes, we did fall for 1, 2, 3, 4 days in a row, then we had a nice green day, and then we fell again. So we did we've kind of released some of that pressure, if you wanna call it that. Now that's all fuzzy and whatever. You can call it whatever you want, But the reality is we are staying in these upward channels. The lines of these upward channels. We've actually gone a little higher in a couple of, it's not perfectly clean if I were to take a screenshot of this and post it. It's not textbook, but it is actually breaking on the high side, not the low side, if that makes sense.
So it is a very bullish indicator to me. So I do think we're gonna end up going higher. I could see us heading on up to, ultimately to $40,000, and then we'll see what happens there. So we may be testing that level here shortly. If you look at the weekly patterns, we've had 1,
[00:06:05] Unknown:
2, 3, 4 weeks in a row now. Solid green. So that actually goes back, yeah, to that,
[00:06:15] McIntosh:
October 23rd. If you wanna go back no. Actually, we've had 5 weeks I apologize.
[00:06:20] Unknown:
Going all the way back to October 16th, we're opening our 6th week. It will remain to be seen. Will it be green or red? I believe we will have a small pause here. I
[00:06:37] McIntosh:
so to be clear, I know this can be confusing.
[00:06:41] Unknown:
We're near the top of the ascending channel.
[00:06:46] McIntosh:
The top right now would be right about 38,000. So we're like 700. I think it will probably go up touch that, and then it will come back
[00:06:54] Unknown:
down to roughly 36,000
[00:06:58] McIntosh:
because we've had 5 weeks in a row of upward movement. It's going to at some point. We're we're not just going to march eternally upward, but I do think we will kind of pull back and consolidate on the lower part of this. The good news is, listener, you don't have to worry about anything that I just said, it may or may not come true. As we always say here on generation Bitcoin, I know y'all you boost it if you if you like this part of the show or if you don't like it. I don't you know? I'm seeking listener feedback, not criticism or whatever. Just just say. If you really don't care for this part, if you don't find this interesting, then let me know. If you do, I will try and make it more concise, but we'll we'll continue to do it more.
I enjoy at least looking at these and trying to figure it out and understand. Maybe give me an idea of where things might go. But, of course, we always talk here about DCA. You should be adding to your stack daily, if at all possible, of Bitcoin. Don't worry about the price. Don't worry about if we break 40,000 or 38,000 or 39,000 or if we drop to 35,000 or or whatever. You know? This week, we dropped down to 36,000 excuse excuse me, 34,800, like I said, would have been a great opportunity to buy, of course, but do you know that that's gonna be no. You don't know. Don't worry about it. Just buy. If you think it's pretty low, buy double if you can.
Just keep doing it. That's that's it. The long term DCA are the ones statistically who win in this game, if you wanna call it a game. So there you go. In addition, of course, let's take a look at our time, our calendar, our blockchain statistics. We are at 817,565 as we record, which ironically is 10 blocks more than 1000 from the last time. So in other words, we were 816-555 last time if I'm not mistaken. Our transaction fees are still very high. Gonna return to that in just a second. Our difficulty adjustment or our our last adjustment was 3.55%.
That was on November 12th. And our next adjustment right now is looking like it's gonna be around 2%. As I record this, it's 2.41 %,
[00:09:44] Unknown:
but we will see. But, again, looking at an upward adjustment. Now let's talk about
[00:09:51] McIntosh:
fees. Fees are about to drive me crazy. They're still very high. Our mempool is filled overflowing. It's actually at one point 3 5 gigabytes as I speak, and the fees themselves have been very high. Now as a miner, of course, this is a very good thing. It's been profitable when we've been mining blocks this week. Had a couple of slow days here, but prior to that, we've done okay. But right now, a low priority transaction is a 129 sats per v byte. That's 6 point, $746.74, a 168 sats per v byte for a medium priority and then 2.22 for a high priority, and that's $11.61.
So we're quite high, and we've been high. And it very rarely fluctuates downward. I've got some things, frankly, I need to do on chain, and I'm starting to begin to wonder if I'm going to have to just do it and pay the fees. I keep hoping that these stupid ordinals would run out and fee activity would drop lower. There's high fees going on right now, and these may continue for a long time. One of the things we probably need to talk about before we wrap up for the year on November 30th will be
[00:11:20] Unknown:
kind of ways that we could avoid this, and, unfortunately, it's not easy or,
[00:11:26] McIntosh:
you know, ideal or whatever, but maybe there are some things that you can do to save some money if you're dealing with on chain. So maybe we should talk about that. But just to give you an idea of that's what's going on. So what's our topic? Did Argentina win? Macintosh, what are you talking about? Well, many of you probably know. I've talked about it a number of times off and on. The Argentina primary election was today, and they do have a winner, and I will announce that in just a second. And that's what we're gonna talk about. But we've had people on from Argentina.
We've talked about the Argentina election, then we've kinda did a live thing during the last round, I gave the results as I recorded, and then I think I pushed out right after that. And tonight, I'm actually going to push this out as well as as soon as I get it done and edited. But, I did wanna let you know, it was official that Javier Milei did win the election earlier today, the person who was running against him did concede, And, Javier will be taking office. I do not know when that takes place. As I have stated, and I continue to stand by this. Argentina needs change.
I do not know Javier is the answer, but at least they're trying something different. We'll talk about that for a few minutes, Then we'll talk about our supporters, talk about the news, what news there was outside of this, and then we'll wrap things up. So Argentina. So one of the, resources that I will be linking to in the show notes is an article from CNN, just to give you an idea. Now
[00:13:23] Unknown:
Javier, is so called
[00:13:26] McIntosh:
right wing, if you wanna call it that. He is he considers himself a libertarian. He probably is a libertarian by virtually anyone's definition. By the way, this is showing that he won more than 94% of the votes have been counted,
[00:13:42] Unknown:
over 55% of the votes. 13 0.781,000,000 votes.
[00:13:49] McIntosh:
So he had a clear victory. It was actually closer than I thought it would be. I honestly thought most of I thought it'd be 60, 65%. And the reason why I say that, the person who dropped out of the last round who was forced and I apologize. I do not remember. It was Barbara something, if I'm not mistaken, but I don't remember her last name. Anyways, she was more right leaning then the minister, Sergio Masa, that he defeated. I figured that those voters would essentially move over to Javier, and certainly some of them did. A lot of them did. But I thought it would be even more of a convincing victory if you wanna call it that.
This is not the article I was looking at. Let me pull that up real quick. I wanted to point out a couple of things in this article.
[00:14:45] Unknown:
I thought it was pretty crazy.
[00:14:48] McIntosh:
I don't know if you are right leaning or left leaning, I try and stay out of this stuff or middle of the road so called or or whatever. They have flat updated this. The link to the article Alright. Well, I'll try and summarize what I saw. Unfortunately, this means that I, well, I'll tell you what I saw. Journalism, in my opinion, mainstream journalism is virtually dead. There's mostly regurgitation of other news sources, this kind of thing, you'll see a lot of Reuters news articles, this kind of thing being
[00:15:32] Unknown:
just redistributed by Fox, CNN, whoever it is. And, unfortunately,
[00:15:39] McIntosh:
with the majority of these news sources, they will either lean right or they will lean left and typically, very much one way or the other.
[00:15:49] Unknown:
They do not take the time to dissect anything,
[00:15:53] McIntosh:
or even have an understanding really, especially if it doesn't meet their worldview. So CNN certainly would be a left leaning organization. They're probably a little less than they used to be, to be honest, but they're still very left leaning. And they have been very careful in every article that they posted about Javier he is a far right outsider. So, you know, they wanna make him sound like he's this radical, you know, far right. I don't know what that makes you Hitler, I guess. What's the word? It's not communist. It's left, right would fascist.
Fascist, I think, is the proper terminology political terminology.
[00:16:40] Unknown:
Now I do not live in Argentina.
[00:16:43] McIntosh:
I am gonna give my opinion on this, as an outsider, as someone who does not speak Spanish. And so there are things that sometimes I just don't understand,
[00:16:54] Unknown:
but he's not a far right Canada. He is a libertarian, and that brings a worldview if you wanna call it that.
[00:17:06] McIntosh:
But he's not a fascist. He's not let me look this up because I'm almost I I don't wanna be misspeaking. Yes. That is the correct. And I think they do that. So the definition, literally, I'm I'm just gonna from Wikipedia. Fascism is a far right authoritarian ultranationalist political ideology and movement characterized by a dictatorial leader, centralized autocracy, militarism, forcible suppression of opposition, belief in natural social hierarchy, subordination of individual interest for the for the perceived. I'm not even gonna keep reading. I'd have to click through and whatever, but it I think you get the idea.
I think they do this on purpose. He's not a fascist. He is a libertarian from everything that I understand, And I may not agree with everything that he says and probably won't. In fact, undoubtedly, I won't, but I don't think that's very fair. And they also completely misrepresented the inflation data. See, now this is what they've updated. Now maybe they just made a mistake, but they seem to make lots of mistakes like this.
[00:18:31] Unknown:
They said something along
[00:18:33] McIntosh:
the effects of, inflation was a 144% or something along those lines. But it's now down from that high
[00:18:47] Unknown:
by, like, 30 points. And that's absolutely categorically
[00:18:52] McIntosh:
not true and took me, like, three minutes to verify.
[00:18:57] Unknown:
So I have a link in the show notes to tradingeconomics.com,
[00:19:04] McIntosh:
which I find to be a reputable website on the inflation data for Argentina, And it very clearly shows what I absolutely remember that in September, the inflation was a 138.3%, technically. And in October, it was 142 0.7%. If I showed you this chart going all the way back to December November 1 year ago well, that makes sense. It started at 92% in November. 92.4. It's now at 142.7. It is literally straight up except July when it dipped from 115.6 to 113.4, and then the next month in August went up to 124 point four. So that fabrication was a complete lie.
[00:20:01] Unknown:
It was a complete non truth. I'm not gonna say they were lying certainly on purpose. If if you're lying, you well, you're doing that to mislead people. They may have just been stupid. Excuse me. But,
[00:20:18] McIntosh:
you know, it's a really simple thing to verify, And it's a very important point of Javier's candidacy. This was the center of his candidacy. See, what is causing this? The Central Bank of Argentina printing money out of control, taking loans with the IMF, the economic policies of Argentina.
[00:20:43] Unknown:
Now, again, this, I'm an outsider. Again, I do not speak Spanish. Again, I know that colors my view, But this was his
[00:20:53] McIntosh:
from everything that I can tell, this was like his core thing, and he is going to go in there. I put this on Twitter. I post he's going to go in there, and he's going to strip out a large number of governmental institutions. And you are going to hear caterwauling like you've never heard before if you're paying attention of people, of governmental officials, of busy bodies of probably a lot of media people in Argentina crying that he's shutting down this ministry and that ministry. And he's trying to save the country, in my opinion.
So I wish him luck. I do. I truly do, and I mean that. I know that he has announced that he will be dollarizing the Peso. And I wanna make sure I get this correct. I I'm just gonna say I'm not sure because I've gone back and forth on this. I've been corrected, and I can't remember what the correction was. I believe that means that the peso
[00:21:59] Unknown:
will be removed, and they will start using US dollars. It could mean that the peso will be pegged to the dollar.
[00:22:11] McIntosh:
Either way, they're tying themselves to the United States in terms of economic policy, in terms of a stable currency
[00:22:22] Unknown:
to try and control inflation. Now
[00:22:24] McIntosh:
that may be a good short term view. We have inflation here in the United States. Our inflation may get worse over time. I believe it will. Long term, this is probably not the best thing to do. However, when you're at a 142.7% inflation, the house is on fire. You do what you have to do, and that would be a good move at least maybe for the next few years. I believe he has said he will abolish the central bank. I have no problem with that. Jefferson, one of our founding fathers, Thomas Jefferson, was very adamant that we should never have a government run bank. There's a quote about that, famous quote that floats around. I keep intending to actually do an episode on that, and maybe one day I will. So I won't go into that, but central banks are, in my mind, they're not a good thing. So, anyways, not to elaborate on that.
He has said he will do that. He has he will go in and rip out a bunch of governmental agencies. I'm sure he will. Will there will everything be perfect? Absolutely not. Is he pro Bitcoin? Seems to be, we don't know where that's gonna go. Will he eventually move them to a Bitcoin standard? I would love it if he did, much like El Salvador, I do not know if that will happen. Has he gotten involved in other things certainly in the past? Absolutely, yes. So we know, historically, he's not been Bitcoin only. It remains to be seen what that actually means. I would love to believe and if I were to sit down with, mister Milley president Milley and say, mister Milley, president Malay, I apologize. I don't speak to such fancy people, so I don't I don't know all the niceties. I'm sorry.
President Milei, you know, are are you a a Bitcoin Max here? Are you a Bitcoin only guy? Maybe that's a better way to say it. Well, yes. Okay. Great.
[00:24:24] Unknown:
Here's what I don't see, the libertarian might say, well, we should just let all these compete, and that's probably his viewpoint or it was. We've seen that. Bitcoin is the only one that has any long term longevity.
[00:24:41] McIntosh:
Heath, it's done okay. It's been around for a while. I don't think it's long for,
[00:24:47] Unknown:
I think ten years from now, it'll be gone personally, for various reasons. That would be the libertarian argument. We're just gonna let those play out. Well, I don't want people to get hurt.
[00:25:01] McIntosh:
Besides, it's make it's difficult to make a theory of work as a governmental currency, but, anyways, not to get off and all that. So we will see how Argentina handles this. It is a step, which is good. It is a break from what they've done for a long time, which is probably a really good thing. I do hope that Argentina starts to turn around. I would love to see Argentina be like El Salvador. Be on some Bitcoin standard, Bitcoin friendly, friendly for Bitcoin investors, friendly for people who want to move there,
[00:25:45] Unknown:
because of Bitcoin laws there, tapping their massive, massive hydropower resources for Bitcoin mining. To Bitfarms, I know, for example, this will be something I will be following closely.
[00:26:02] McIntosh:
I do own stock in Bitfarms. They recently announced. They agreed, made an agreement with the Argentinian government or the energy company that runs which is a governmental run agency, if I'm not mistaken. For the next 6 months during their wet season, I guess, and if I got that wrong, I'm sorry. It's I do know it's summer down there, which I don't know why that'd be the wet season. But, anyways, it's the cheaper time, I guess. They've negotiated I think it was 2¢ per kilowatt, power, which is incredible. I mean, I I would just die if I had that kind of power. I'd just die and go to heaven. Just be like, I'm done. I can't get any cheaper power than that.
[00:26:51] Unknown:
Anyways, they've got a lot of work to do. They do.
[00:26:58] McIntosh:
It will be interesting watching them over the next few years. I do hope to make it there. Of course, I hope to make it a lot of places. So me just saying that, maybe not the best indicator that I'm going to go there.
[00:27:10] Unknown:
I'd love to go into Buenos Aires. I'd love to go up into the, Patagonian area, lower down. I'd love to spend time even on the, Andean mountains there, the Andes, between Chile and Argentina, maybe jump over into,
[00:27:33] McIntosh:
the area that goes down into Santiago, there's some really interesting places here that I would love to see. To be honest, just being truthful. It will not be this year. It will not be next year. I've got other plans for next year, but maybe maybe down the road. And if they really start to turn things around, then, you know, maybe at some point down the road, there's some investment there. It would be great. I would love to see that country grow. So, Macintosh, why are you doing this? Why are you talking about other countries again? You do this. You go off. You talk about this. Talk about that.
[00:28:16] Unknown:
Why?
[00:28:18] McIntosh:
Good question. I'm glad you thought of it.
[00:28:24] Unknown:
Here's the answer. It's important because
[00:28:29] McIntosh:
I know that the 100 and however many odds, 60 or 90
[00:28:34] Unknown:
odd countries in the world cannot continue the way that they are. They cannot mathematically, socially.
[00:28:46] McIntosh:
And by mathematically, I mean, the amount of debt that they have. United States, a 125% whatever debt to GDP. Bank, bank. Japan, worse, you know, so on and so forth. That can't continue. Socially, the countries there are so many countries in the world
[00:29:06] Unknown:
right now, that are tearing themselves apart.
[00:29:11] McIntosh:
There has to be a change, and it's either going to get a lot worse and then get better possibly, or it's going to get a lot worse and then get even worse or it's going to get better. Does that make sense? I think that's kind of the three outcomes. Countries like Argentina. Countries like El Salvador can lead the way, and they can show the world, the United States, Russia, Canada, Western Europe, whoever. This is working. You, whoever you country your country, will have to make a change. How are they going to do that? Are they going to become more disruptive and fight with other countries over resources and strip more money from their citizens and cause more chaos by the I mean, the banks are starting to close down accounts if you're talking about crypto. I mean, it's just the insanity is is like ratcheting up,
[00:30:23] Unknown:
and I don't think we're making it up. I think this stuff is going on. It has to change. So the reason why I talk about these countries that I have hoped for is because I want them to lead the way. Not only that, these are countries now, Argentina. Yes, Argentina has had a lot of inflation,
[00:30:47] McIntosh:
but there was a time when Buenos Aires was considered to be the Paris of of the, whichever direction it is, of the east of, to the east. Not saying that right. Certainly of Latin America. How about that? We'll go with that. It was a beautiful city. Not that it is not now, but, you know, it was cultured. It was there was so much economic activity going on. It was prosperous. That's the word I'm trying to say,
[00:31:18] Unknown:
and it's not right now. It can become that again. Wow. We just printed two blocks. You've got to be kidding me. That's crazy. So 817,5 69 was a minute ago, and then, like, just now, 817,570.
[00:31:37] McIntosh:
So we printed, like, three blocks in three minutes. That's that's a lot. That's kinda weird. Hey. With statistics, that's the way it works out. Remember, this is not locked to ten minutes, it's there's well, solving a puzzle is not the right way to put it, but, anyways, it's just chance, so these things happen. I wonder if brains mind any of those. Excuse me for just a second. Gonna jump on and take a look because I can't help myself. I need, like, an app that every time I get a block, it just kinda beeps me. Beep.
You made money. Beep. Unfortunately, no. Well, that's sad. So as I talk about these countries, I'm I'm doing my best, frankly, to cheerlead them, if that makes sense. I want them to win. I want these countries in Africa to win. I am always about an underdog. That's why I talk about a Bhutan. I think Bhutan made a fabulous choice, spectacular by investing, I think, 100,000,000 US dollars into Bitcoin mining operations in the Himalayas because, hey, it's cold. We don't have to worry about our miners overheating. We've got lots of hydroelectric power. Hey. Let's hook it up and build some sound money.
Yeah. Anyways, enough about that. As you know, I'm you know? Just to wrap this, BlackRock, they're gonna make their millions. They're gonna make their 1,000,000,000 and 1,000,000,000,000.
[00:33:26] Unknown:
I'm just as worried about the people out
[00:33:30] McIntosh:
on the border of Chile and Argentina in that Andean mountain region. God forbid I'm saying that wrong. I hope not. Who? They're experiencing a 145% roughly inflation.
[00:33:47] Unknown:
And unlike Diego, who we talked about who they can swap to dollars, and yes, it's it's a huge mess and it is not good for their business, but these people out in the sticks, so to speak, as we would say, they can't do that. That's why Argentina needs sound money,
[00:34:08] McIntosh:
and then they need that transition so that the people in the sticks understand how to use the Bitcoin blockchain. You know, we we act like it's no big deal. It is for a lot of people. I hope that made sense. I think it all did. It all did in my head. It shouldn't yours. Sorry.
[00:34:35] Unknown:
Yeah. Yeah.
[00:34:38] McIntosh:
So good luck. Seriously, Argentina. Alright. Let's talk about our supporters, Kyrin. Kryin sent in a funny message this week. He sent in a, row of ducks boost 2,222. This was for episode 144. I want my right to mix,
[00:34:59] Unknown:
the last episode.
[00:35:01] McIntosh:
And I appreciate that boost, Kyrin, of course. He said I had to Kyrin, to be honest before I read this, I had to go back and listen. I had to go back and listen to the entire episode. It actually happens near the end of the episode, at least the end of my discussion, the topic to to kinda pick up on on what this was about. He said, That pause after, quote, attack the government, quote, is going to get you put on so. And there's, like, 1, 2, 3, 4, 5 hoes, mini list. I'm like, what are you talking about? And that's literally what I said. It's a little taken out of context, and I did pause just so everyone's clear, in case I haven't mentioned it anytime soon.
As I get older, as I my children get older, to be honest, I find myself becoming more and more of a pacifist. When I was 21, I probably had a a different outlook than I do now. In fact, I know I did. And, I would never call for violence against any government, and sometimes that's extremely difficult,
[00:36:19] Unknown:
for taking of human life over political things.
[00:36:25] McIntosh:
The only time, personally, to be honest, is, that I would believe in that is if you showed up at my house trying to rob and beat and,
[00:36:36] Unknown:
you know, various sundry other things in my house,
[00:36:40] McIntosh:
you know, personal defense type things. You'll find out I'm not a pacifist when it comes to that. So I guess I just got put on 14 more list, Kyrin. Fortunately, here in the United States, I don't think we've quite sunk to that level unless maybe you live in California,
[00:37:01] Unknown:
but
[00:37:03] McIntosh:
I just pray for the people in California. I don't know what to tell them, But I I would there there's lines that when they get crossed that I will vote with my feet. I'm also aware that a lot of people can't do that, unfortunately. So I guess I'm in a,
[00:37:24] Unknown:
privileged position, if you wanna call it that.
[00:37:27] McIntosh:
I just know that there's a lot of people who can't necessarily get up and move if their country does something that they just completely don't agree with, and they think that that's what they should do. But they can't because they they have no money because their peso is inflated at a 145%. I'm sorry if if that sound like I was making fun of Argentina. I'm not. I'm
[00:37:53] Unknown:
just trying to proved my point because those people, again,
[00:38:02] McIntosh:
who are out in the in the sticks says we would say here in the United States who, you know, they can't afford
[00:38:07] Unknown:
to move if because of that. And I'm
[00:38:11] McIntosh:
I don't know. It's it's an extremely difficult position. Anyways, so I did not certainly, literally, me attack the government.
[00:38:22] Unknown:
So there you go. I guess maybe a little bit more about about McIntosh and about what goes on in in his head.
[00:38:29] McIntosh:
It's convoluted. I'll tell you that. My head's man.
[00:38:33] Unknown:
The older I get, the more confused I get really, and it should be the opposite, which is not good. Maybe. I don't know. Life's hard sometimes.
[00:38:45] McIntosh:
It's the way it is. Alright. Anyways, wow. Kyrin, appreciate that. We're gonna move right along now. Got a couple of anonymous boost, which these are starting to get to be regular. I don't know if it's the same person. I really appreciate it. Anonymous, whoever you are. It's rather cool, actually, that you're boosting anonymously, and, literally, I have no way of knowing who you are. I don't even know what app you came from. That does not show up, so that's
[00:39:12] Unknown:
great. 500 sat boost, episode 143. Are you in the right mindset? No message. And then a 100 sat boost,
[00:39:23] McIntosh:
episode 144, I want my right to mix. So I appreciate both of those. If they were from the same person, I'm pretty sure that they are, the total support was 2,772 sets. So I do appreciate that. That was awesome. Yes. I I do appreciate the treasure that was shared here with generation Bitcoin. I would like to share some with the listeners, and here's how we can do this. I mentioned from time to time, most weeks, if you clip an episode and what I mean is if you go to app like fountain and you clip 1, 2, 3 minute clip from the episode. If it's the current episode, it's a 500 sat boost back to you.
If it's an older episode, then it's 300 sats. It's a way for you to make some treasure. It's a way for you to make some sats from me, So you're welcome to do that. Based on last week's recommendation, I've actually started doing. I think I told you I might be doing this last week, but I implemented it. I've started implementing it. I'm splitting up my podcast across multiple apps. I should have done this previously. So now I have fountain, which I've used traditionally, podcast guru, which I'm really liking. I will say sometimes the the UI, maybe not quite what I expect. I'm managing to get around, but, but, you know, it is solid. It is very quick. I will say that. Definitely.
I think it has a very bright future. And then also, Podverse, which I have used just in the past. Looks like they just got a new version came out, 4.15.0. If you're on the beta test, I guess, you can click with Podverse. I can I know that you can do that? You may have to let me know if you do that. I won't get automatically noticed. I won't automatically notice it if you do it on there. But I am I've got, like, 10 on here. I'm trying to get, like, 10 podcasts on each one to kinda spread this around, test out the different podcasts so maybe I can help people if they need help, give suggestions, or just see what's out there regardless.
So I'm now on three different ones. I'll probably bring on in 1 more this week and keep pulling stuff off of fountain. Fountain had been overloaded. So we'll see how that experiment goes. News and links. Alright. I do wanna cover a bit of news, if you follow me on Twitter, I'm on @McintoshFintech. I post kind of in real time as I see these things come up. Of course, I've already talked about Javier Milei.
[00:42:12] Unknown:
He is the new president.
[00:42:15] McIntosh:
I posted about a video. This is what I was talking about. Ministry of Culture out, Ministry of Environment and Sustainable Development out, so
[00:42:23] Unknown:
on and so forth. It's just like Ministry of Public Works,
[00:42:31] McIntosh:
Ministry of Science Technology Innovation. Look. I'm not saying that some of these are not bad things. I mean, like, maybe, I don't know, environmental, what, Ministry of Transportation. We probably need that. We need transportation. We need a transportation policy, I should say, in a nation. But these things, they take over. They get a life of their own. And so I you know, in a country that's at a 145% inflation that is printing money like no tomorrow, they have to do these kind of things just to stop the bleeding. They have to figure out, you know, what's what can we trim back? And then maybe at some point, if they need something, they add it back, but you've got to build a solid base. And right now, they don't have that. So, anyways, interesting stuff there.
I thought this was interesting. This guy named wicked, w_s_bitcoin that I follow, he posted this. And he said, you may not like this, but within the next few years, I bet one of the 1st Bitcoin mints and what he's talking about, I believe, is like stablecoin on Bitcoin. Of lightning maybe with Taproot, for example, will emerge that becomes highly trusted and lasts for centuries. You don't you won't have to trust it, but many will, and they'll be fine. So this is kind of the argument. Well, we want Bitcoin to be noncustodial. That's certainly absolutely the best. But with the number of people in the world, with the widespread adoption of Bitcoin, it will be necessary, is this argument that that there are trusted institutions essentially that that we use for Bitcoin services, and it's going to happen whether you like it or not.
It remains to be seen how stable those are, and some of them will not last. But it will be part of the fabric, and you're just you will have to deal with that. Not everybody can afford a $10 on chain fee. I mean, just that's just not gonna happen. So, anyways, thought that was interesting. He also pointed, he also posted earlier today. For the first time ever, more than 70%, 7 0% of all Bitcoin has been hodled or or held in cold storage for more than one year. That's incredible.
[00:45:09] Unknown:
Strike,
[00:45:10] McIntosh:
some updates, you can read about that as well. More ways of getting money, fiat into the system, in the form of Bitcoin. Getting money out. You know, of course, this is a KYC service, but it is available virtually all over the globe. Fidelity who they're a huge asset manager, and they've been very vocal about their Bitcoin support. Said if powering Bitcoin, a global digital monetary network, is considered wasteful, then what does that make the traditional financial system? For some context, Fidelity is part of the traditional financial system. It's one of the world's it's one of the largest financial institutes in North America. Every day, it becomes clear that Bitcoin is the best asset that we have, large financial institutions are coming out to say this BlackRock.
These are some of the wealthiest people and organizations in the world. So, yes. I do believe that 2025 2024, excuse me, will be the year of the institution. Last year this year, excuse me, year of regulation, and I've been pretty accurate about that. That regulation will continue. Some of it we may not like. In fact, maybe a lot of it we don't like, but it will continue. But next year will be the year of the institution. And I don't mean MicroStrategy. I mean, BlackRock. I mean, Fidelity. I mean, these type companies, ETFs will come online, and they even if they're approved at this point before the end of the year, which is not guaranteed, they will not come online until next year. So I'm going to go on record right now prior to January 1st saying that next year will be the year of the institution becoming involved in Bitcoin in a big, big way.
And one more, I had to throw this in, Peruvian bull, which is Peruvian underscore bull. Said this. CPI was lower than expectations because health insurance costs were, checks, notes, down 38%. Who actually believes this crap? So what he's talking about, our CPI numbers came out this week, and they were lower. They were, like, 3.8 instead of 3.9 or whatever it was percent inflation. And one of the big things was health insurance was down 38%. I promise you health insurance costs have not got suddenly gone down 38% year over year in the United States. That is complete and other baloney.
I have no idea how they even came up with that, but that's the kind of stuff that they use to skew the data. It's crazy. So I believe I've mentioned this, the parliament the EU parliament had a bill come up before it essentially, and that maybe they don't call it a bill, but it's a bill at least in our lingo, about chat surveillance, essentially, warrantless mass surveillance of phones and circumventing end to end encryption. Fortunately, with an overwhelming 51 to 2 vote, the parliament has decided against that. So that's really good news for the EU. I'm proud of y'all. I have no idea how your system works if you called your congressman or whatever, your parliament member. I apologize for my naive to tell you, but I promise I would bet most of you don't actually know how our system works either. So, hey, it goes both ways. Right?
But we'll fumble through it. Anyways, that's really good that y'all did that. So great news. And here in back in the US, $8,200,000,000,000 of US debt will be maturing in the next 12 months. So what that means is that debt will roll over, and it will roll over at a higher interest rate. So more interest will be generated that will have to be paid as part of our debt, and we're already approaching if not at $1,000,000,000,000 a year in interest alone on the federal debt. It's insane. It's insane. It's insanity. Alright. There we go. That's it. That's what I had for the news.
I've told y'all before this is time of year. Things just kinda slow up a little bit. No ETF news this week. No real crazy things. The SEC did actually ask a few of the ETF companies who wanted the ETFs basically to make some changes to their, their plan, which actually were beneficial towards Bitcoin. I'm not really gonna go into that. It's kind of in the weed stuff, but it was a good thing. I'm not sure that these will be approved before the end of the year. I'm quite confident that they will be approved.
[00:50:12] Unknown:
You can argue whether they're good or bad. They are happening.
[00:50:17] McIntosh:
Now we can the price will benefit. We all know that. Is it best for Bitcoin? It's not best for Bitcoin for those people. That's not the best way to own Bitcoin, but I'd rather they do that than own, I don't know, Microsoft stonker. Chat API GPT. Sorry. Chat GPT. I think that's a better bet, So I'm okay with it from that perspective. Does it violate Bitcoin? Does it circumvent the rules? Does it you know? No. It's
[00:50:53] Unknown:
all proper legal, you know, the way that it it's operating within the protocol rules, so therefore, it's like ordinals. I I hate ordinals, but
[00:51:05] McIntosh:
ordinals are allowed. And until that changes, if consensus is given and that's changed. Then they're there, and they're cluttering up the mining blocks and causing high fees and, but that high fees may drive innovation. We're much better prepared than we were in 2017, for example, for high fees, and we will have high fees. This bull run. I promise you. People are gonna be crying over these rates. You should be getting prepared. We will talk about that. I've already said that. You really do need to be getting prepared. If you've got lightning channels, you need to get them.
You need to make sure that those are the size that they need to be, and that includes your Phoenix wallet, by the way, if you happen to use that or some such custodial setup because people are finding, oh, I'm trying to send this tiny little thing to my lightning wallet, and it's charging a $10 fee. Well, it's because it's having to splice in a channel, and it's expanding it, so it's doing an on chain transaction. Well, the on chain transactions or off the chain. That's probably not a good way to say that, but they're really high. So therefore, they get charged for that. So you need to think about these things now, not when the fees are double, triple what they are even though they're already high. So that's it.
That's what we got. Generation Bitcoin supports podcasting 2 point o. We are a value for value podcast. I do not have sponsors. I do not have advertising. I've actually done a lot of thought about this. I'm currently not going to do that. Maybe I'll talk about this. I'm not gonna do this tonight, but there's a point in time I wanna talk about this. I've actually found out some interesting things. For example, one of my favorite podcasts. I'm gonna throw this out real quick, and then I'm gonna wrap this up. I'm gonna skip a lot of this. One of my favorite podcasts I listen to. So I'm a token fanatic and lord of the rings, simrillion, the hobbit, you know, all the back material, all this stuff.
I'm a fanatic. I read it more than I should. And, so I listened to this podcast. It's called the prancing pony, which was the name of, let's see. That was the name of the in in Bree. Cute little name. Prancing Pony. Show's been around for a long time. They have 12,000 downloads or users, whatever, listeners is what he called it, 12,000 listeners. I assume that means per episode. I assume that means on a regular basis, But they do, you know, a bucket load of advertising. Like, you wade through, like, 3 minutes of advertising up front and then, like, 2 minutes in the middle, and it's ridiculous. They're clearly not value for value. They're certainly not value for value. They do not stream sets.
[00:53:59] Unknown:
They don't, you know, accept boost, anything like that. That's not my point.
[00:54:06] McIntosh:
I'm not at 12,000 downloads per episode, 12,000 listeners, however you wanna put it. I'm not. I'm a long way from there, but I could see one day being at that point.
[00:54:17] Unknown:
I do not know. We will see when I get to that point how the value for value side of this is doing. I would hope it's doing much better than it is now because as I provide value, I would hope that people would give that value back. But I also know that with 12,000 downloads, you know, they have 2 hosts, they have an audio editor. They have community support. They have all this stuff that that they do. So they clearly are making a lot of money off of their advertising. So I don't know.
[00:54:56] McIntosh:
I know there's a lot of stuff that I will never touch. You'll never see me hawk ledger wallets. Now I have no problem talking about seed signer, which is an open source product, which you literally can buy the pieces and put yourself together. But I would not even take money from seed signer if they offered it to me. Because if there were ever a problem, I do not want my listeners to come back to me and say, Macintosh, you told us to use seed signer, and we did, and we lost money. Why did you do that? Well, first of all, I'll never tell you to do seed signer. I will tell you I use seed signer. I'm about to order 1 for my mining business because I need it. But I'm not gonna tell you to do that. I'm just gonna lay out why it might work for you. And I want no financial gain from that if you go to seed signer because that will absolutely sway my opinion.
So there are a lot of things that I will never never think about as a sponsor. Is there a time maybe when I would take sponsors who are I can't even think of the problem is I can't think of anything. I'm sure there are. I don't know. Maybe a seed plate where you put your seed, words into aluminum plates or steel, stainless steel. I don't know how you could possibly go wrong with that, and maybe I wouldn't have any problem, quote shilling that. I don't know. We'll see.
[00:56:31] Unknown:
I'm also very aware of what it sounds like when you have ads in the middle of your material. Even if it's a kind of a
[00:56:39] McIntosh:
what do they call it? A native ad where you kinda mix it in. Oh, I those actually could be the most nefarious where, oh, you don't know that they're getting paid to do that.
[00:56:49] Unknown:
I don't know.
[00:56:51] McIntosh:
Anyways, we don't have any sponsors, and we don't have any advertising. We do depend on the listener. There's 3 different ways you can do that, time, talent, or treasure. Go out, try one of these podcast 2 point o apps if you haven't. Fountain, podcast guru or Podverse. Most of you probably do listen to a lot of podcasts. Maybe you could do, like, what I'm doing where I kind of split it up, and I'll see how they work for me. But if you have a podcasting 2 point o app, then you can support a show like ours. You can boost. You can send messages.
[00:57:26] Unknown:
You can stream,
[00:57:29] McIntosh:
to the show as well. Stream stats to support the show just like anonymous did earlier and Kyron did earlier. Anyways, enough about that. I rattled on enough tonight. I do appreciate y'all being here. I am very much can I be honest? I hope I can be honest. I'm very much looking forward to this time off. Not I will miss doing this, But the commitment that it takes to do this twice a week, especially for months on end, and I do, again, apologize. I say twice a week, and then, McIntosh, you weren't on last Thursday. Well, that was life.
These things do happen from time to time, but it's pretty rare. It's it's pretty high, and I'm looking forward to this time off. But I'm also, while I'm gonna be gone, I'm going to do some things. I know I'm gonna move the podcast,
[00:58:20] Unknown:
which will help us in the future with the podcast 2 point o stuff. I know. Well, I'll tell you more when I come back in January or the last day of December or whatever I decide to do because we're gonna come back and say 2024, the year of the institutions.
[00:58:44] McIntosh:
It's so easy when it's so obvious. But, yeah, that's gonna be a big thing next year. There's gonna be a lot of things next year. Next year will be the start of the bull run if we're not already there, and I don't I think we're gonna kinda grind up for the rest of the year unless these ETFs get approved. If they do, all bets off, we may shoot right up for a good bit. We may come back down, but we'll shoot right up. It may kick off that bull market a little early, and I don't know what that would do about the end of it. We'll see. If we do really get going early on, I may have to evaluate Q4 2025.
But for now, I'll stick with that. Thanks for being here. I hope this has been helpful. I would love to hear from you. I always love hearing from y'all. I'm on you can post me a message. That's the most direct way to get ahold of me. I'm also on Twitter at Macintosh Fintech. As long as I don't get kicked off or maybe you I don't know. I'm on at Macintosh at podcast index dot social as well. That's it. Stay humble friends. Go out. Make it a great week. I'll talk to y'all soon.
Hey, Sat Stackers. Today is November 19th, and this is episode 145 of generation Bitcoin. I'm your host, McIntosh. And today's episode is did Argentina win? Alright. We're gonna do the market update, and we are going to talk about Argentina today. A few other things as well. We're gonna talk about our supporters, little bit of news, and call it a day. It's been a week since I last talked to you. Dear listeners, and thank you for being patient. I did not record on Thursday. Just life, you know, just too busy, to be honest.
And, shame on me. I guess that shouldn't be the case, but, but it was. It was more or less work related all day long, from morning until late at night and and Wednesday night as well. I do normally on Wednesdays record and then put it out on Thursdays, but, sometimes I record on Thursdays and put it out on Thursdays. Did not make either one. So, again, I apologize. Market update. Well, If I go back to what I talked about a week ago, what did I say? I said, something to the effect of I really thought it looked like it was going to go lower, but it really wants to go higher, if that makes sense. Just kind of the way that I don't know. At some point, maybe you kinda get a feel for this. I don't know.
But with as much activity as we had had, even as bullish as the charts had been, it was time for a pullback, and we got that. So if we go back 7 days let me adjust my chart real quick. I do know the weekly closed last week, which I we reported on last episode was 37,000 and seventy. So we have our market now of what? 37347. So, basically, it was, like, $300 higher right now, but that doesn't tell the whole story. 1, 2, 3, 4, 5, 6, 7. Right. So we dropped yeah. So Sunday wasn't too bad, but we were basically at our high when we open not too far below it. We went, like, a pop couple 100 up, and then we fell. And then Monday, we dropped. Tuesday, we dropped all the way down to 34 is in 600 nope. 34,700.
I'll get it right in a minute. 34, yeah, 34782, somewhere around 34,800
[00:03:21] Unknown:
800. And then the next day, so we're talking about Wednesday, we went all the way up to 37985. We touched 38,000,
[00:03:33] McIntosh:
and then we went right back down. It was it's been a roller coaster of a week, really, but we've come right back up over the last 1, 2, 3 days. Now we're opening the 4th day. So we're right back where we started. And I was pulling back a little bit, of course, looking at the overall patterns And what I'm seeing come apart come about right now is a ascending channel. So you've got basically 2 lines that are parallel to each other that are going ascending. You're getting higher highs and lower lower highs. Yes. That makes sense. Higher highs and lower highs as well. So and it's in this kind of upward angle.
This is a bullish pattern. Normally, we would break upwards out of this. And what we are doing and what we have been doing, in fact, for the last roughly 21 days, not 21, almost a full month. October 24th is kind of when this pattern started.
[00:04:45] Unknown:
So 3 day 4 day 4 or 5 days from being a full month,
[00:04:51] McIntosh:
we've been in this bullish pattern. The expectation would be ultimately, we broke high. Now what we saw last week and what I was describing, we've we've had so much bullish upward. Yes, we did fall for 1, 2, 3, 4 days in a row, then we had a nice green day, and then we fell again. So we did we've kind of released some of that pressure, if you wanna call it that. Now that's all fuzzy and whatever. You can call it whatever you want, But the reality is we are staying in these upward channels. The lines of these upward channels. We've actually gone a little higher in a couple of, it's not perfectly clean if I were to take a screenshot of this and post it. It's not textbook, but it is actually breaking on the high side, not the low side, if that makes sense.
So it is a very bullish indicator to me. So I do think we're gonna end up going higher. I could see us heading on up to, ultimately to $40,000, and then we'll see what happens there. So we may be testing that level here shortly. If you look at the weekly patterns, we've had 1,
[00:06:05] Unknown:
2, 3, 4 weeks in a row now. Solid green. So that actually goes back, yeah, to that,
[00:06:15] McIntosh:
October 23rd. If you wanna go back no. Actually, we've had 5 weeks I apologize.
[00:06:20] Unknown:
Going all the way back to October 16th, we're opening our 6th week. It will remain to be seen. Will it be green or red? I believe we will have a small pause here. I
[00:06:37] McIntosh:
so to be clear, I know this can be confusing.
[00:06:41] Unknown:
We're near the top of the ascending channel.
[00:06:46] McIntosh:
The top right now would be right about 38,000. So we're like 700. I think it will probably go up touch that, and then it will come back
[00:06:54] Unknown:
down to roughly 36,000
[00:06:58] McIntosh:
because we've had 5 weeks in a row of upward movement. It's going to at some point. We're we're not just going to march eternally upward, but I do think we will kind of pull back and consolidate on the lower part of this. The good news is, listener, you don't have to worry about anything that I just said, it may or may not come true. As we always say here on generation Bitcoin, I know y'all you boost it if you if you like this part of the show or if you don't like it. I don't you know? I'm seeking listener feedback, not criticism or whatever. Just just say. If you really don't care for this part, if you don't find this interesting, then let me know. If you do, I will try and make it more concise, but we'll we'll continue to do it more.
I enjoy at least looking at these and trying to figure it out and understand. Maybe give me an idea of where things might go. But, of course, we always talk here about DCA. You should be adding to your stack daily, if at all possible, of Bitcoin. Don't worry about the price. Don't worry about if we break 40,000 or 38,000 or 39,000 or if we drop to 35,000 or or whatever. You know? This week, we dropped down to 36,000 excuse excuse me, 34,800, like I said, would have been a great opportunity to buy, of course, but do you know that that's gonna be no. You don't know. Don't worry about it. Just buy. If you think it's pretty low, buy double if you can.
Just keep doing it. That's that's it. The long term DCA are the ones statistically who win in this game, if you wanna call it a game. So there you go. In addition, of course, let's take a look at our time, our calendar, our blockchain statistics. We are at 817,565 as we record, which ironically is 10 blocks more than 1000 from the last time. So in other words, we were 816-555 last time if I'm not mistaken. Our transaction fees are still very high. Gonna return to that in just a second. Our difficulty adjustment or our our last adjustment was 3.55%.
That was on November 12th. And our next adjustment right now is looking like it's gonna be around 2%. As I record this, it's 2.41 %,
[00:09:44] Unknown:
but we will see. But, again, looking at an upward adjustment. Now let's talk about
[00:09:51] McIntosh:
fees. Fees are about to drive me crazy. They're still very high. Our mempool is filled overflowing. It's actually at one point 3 5 gigabytes as I speak, and the fees themselves have been very high. Now as a miner, of course, this is a very good thing. It's been profitable when we've been mining blocks this week. Had a couple of slow days here, but prior to that, we've done okay. But right now, a low priority transaction is a 129 sats per v byte. That's 6 point, $746.74, a 168 sats per v byte for a medium priority and then 2.22 for a high priority, and that's $11.61.
So we're quite high, and we've been high. And it very rarely fluctuates downward. I've got some things, frankly, I need to do on chain, and I'm starting to begin to wonder if I'm going to have to just do it and pay the fees. I keep hoping that these stupid ordinals would run out and fee activity would drop lower. There's high fees going on right now, and these may continue for a long time. One of the things we probably need to talk about before we wrap up for the year on November 30th will be
[00:11:20] Unknown:
kind of ways that we could avoid this, and, unfortunately, it's not easy or,
[00:11:26] McIntosh:
you know, ideal or whatever, but maybe there are some things that you can do to save some money if you're dealing with on chain. So maybe we should talk about that. But just to give you an idea of that's what's going on. So what's our topic? Did Argentina win? Macintosh, what are you talking about? Well, many of you probably know. I've talked about it a number of times off and on. The Argentina primary election was today, and they do have a winner, and I will announce that in just a second. And that's what we're gonna talk about. But we've had people on from Argentina.
We've talked about the Argentina election, then we've kinda did a live thing during the last round, I gave the results as I recorded, and then I think I pushed out right after that. And tonight, I'm actually going to push this out as well as as soon as I get it done and edited. But, I did wanna let you know, it was official that Javier Milei did win the election earlier today, the person who was running against him did concede, And, Javier will be taking office. I do not know when that takes place. As I have stated, and I continue to stand by this. Argentina needs change.
I do not know Javier is the answer, but at least they're trying something different. We'll talk about that for a few minutes, Then we'll talk about our supporters, talk about the news, what news there was outside of this, and then we'll wrap things up. So Argentina. So one of the, resources that I will be linking to in the show notes is an article from CNN, just to give you an idea. Now
[00:13:23] Unknown:
Javier, is so called
[00:13:26] McIntosh:
right wing, if you wanna call it that. He is he considers himself a libertarian. He probably is a libertarian by virtually anyone's definition. By the way, this is showing that he won more than 94% of the votes have been counted,
[00:13:42] Unknown:
over 55% of the votes. 13 0.781,000,000 votes.
[00:13:49] McIntosh:
So he had a clear victory. It was actually closer than I thought it would be. I honestly thought most of I thought it'd be 60, 65%. And the reason why I say that, the person who dropped out of the last round who was forced and I apologize. I do not remember. It was Barbara something, if I'm not mistaken, but I don't remember her last name. Anyways, she was more right leaning then the minister, Sergio Masa, that he defeated. I figured that those voters would essentially move over to Javier, and certainly some of them did. A lot of them did. But I thought it would be even more of a convincing victory if you wanna call it that.
This is not the article I was looking at. Let me pull that up real quick. I wanted to point out a couple of things in this article.
[00:14:45] Unknown:
I thought it was pretty crazy.
[00:14:48] McIntosh:
I don't know if you are right leaning or left leaning, I try and stay out of this stuff or middle of the road so called or or whatever. They have flat updated this. The link to the article Alright. Well, I'll try and summarize what I saw. Unfortunately, this means that I, well, I'll tell you what I saw. Journalism, in my opinion, mainstream journalism is virtually dead. There's mostly regurgitation of other news sources, this kind of thing, you'll see a lot of Reuters news articles, this kind of thing being
[00:15:32] Unknown:
just redistributed by Fox, CNN, whoever it is. And, unfortunately,
[00:15:39] McIntosh:
with the majority of these news sources, they will either lean right or they will lean left and typically, very much one way or the other.
[00:15:49] Unknown:
They do not take the time to dissect anything,
[00:15:53] McIntosh:
or even have an understanding really, especially if it doesn't meet their worldview. So CNN certainly would be a left leaning organization. They're probably a little less than they used to be, to be honest, but they're still very left leaning. And they have been very careful in every article that they posted about Javier he is a far right outsider. So, you know, they wanna make him sound like he's this radical, you know, far right. I don't know what that makes you Hitler, I guess. What's the word? It's not communist. It's left, right would fascist.
Fascist, I think, is the proper terminology political terminology.
[00:16:40] Unknown:
Now I do not live in Argentina.
[00:16:43] McIntosh:
I am gonna give my opinion on this, as an outsider, as someone who does not speak Spanish. And so there are things that sometimes I just don't understand,
[00:16:54] Unknown:
but he's not a far right Canada. He is a libertarian, and that brings a worldview if you wanna call it that.
[00:17:06] McIntosh:
But he's not a fascist. He's not let me look this up because I'm almost I I don't wanna be misspeaking. Yes. That is the correct. And I think they do that. So the definition, literally, I'm I'm just gonna from Wikipedia. Fascism is a far right authoritarian ultranationalist political ideology and movement characterized by a dictatorial leader, centralized autocracy, militarism, forcible suppression of opposition, belief in natural social hierarchy, subordination of individual interest for the for the perceived. I'm not even gonna keep reading. I'd have to click through and whatever, but it I think you get the idea.
I think they do this on purpose. He's not a fascist. He is a libertarian from everything that I understand, And I may not agree with everything that he says and probably won't. In fact, undoubtedly, I won't, but I don't think that's very fair. And they also completely misrepresented the inflation data. See, now this is what they've updated. Now maybe they just made a mistake, but they seem to make lots of mistakes like this.
[00:18:31] Unknown:
They said something along
[00:18:33] McIntosh:
the effects of, inflation was a 144% or something along those lines. But it's now down from that high
[00:18:47] Unknown:
by, like, 30 points. And that's absolutely categorically
[00:18:52] McIntosh:
not true and took me, like, three minutes to verify.
[00:18:57] Unknown:
So I have a link in the show notes to tradingeconomics.com,
[00:19:04] McIntosh:
which I find to be a reputable website on the inflation data for Argentina, And it very clearly shows what I absolutely remember that in September, the inflation was a 138.3%, technically. And in October, it was 142 0.7%. If I showed you this chart going all the way back to December November 1 year ago well, that makes sense. It started at 92% in November. 92.4. It's now at 142.7. It is literally straight up except July when it dipped from 115.6 to 113.4, and then the next month in August went up to 124 point four. So that fabrication was a complete lie.
[00:20:01] Unknown:
It was a complete non truth. I'm not gonna say they were lying certainly on purpose. If if you're lying, you well, you're doing that to mislead people. They may have just been stupid. Excuse me. But,
[00:20:18] McIntosh:
you know, it's a really simple thing to verify, And it's a very important point of Javier's candidacy. This was the center of his candidacy. See, what is causing this? The Central Bank of Argentina printing money out of control, taking loans with the IMF, the economic policies of Argentina.
[00:20:43] Unknown:
Now, again, this, I'm an outsider. Again, I do not speak Spanish. Again, I know that colors my view, But this was his
[00:20:53] McIntosh:
from everything that I can tell, this was like his core thing, and he is going to go in there. I put this on Twitter. I post he's going to go in there, and he's going to strip out a large number of governmental institutions. And you are going to hear caterwauling like you've never heard before if you're paying attention of people, of governmental officials, of busy bodies of probably a lot of media people in Argentina crying that he's shutting down this ministry and that ministry. And he's trying to save the country, in my opinion.
So I wish him luck. I do. I truly do, and I mean that. I know that he has announced that he will be dollarizing the Peso. And I wanna make sure I get this correct. I I'm just gonna say I'm not sure because I've gone back and forth on this. I've been corrected, and I can't remember what the correction was. I believe that means that the peso
[00:21:59] Unknown:
will be removed, and they will start using US dollars. It could mean that the peso will be pegged to the dollar.
[00:22:11] McIntosh:
Either way, they're tying themselves to the United States in terms of economic policy, in terms of a stable currency
[00:22:22] Unknown:
to try and control inflation. Now
[00:22:24] McIntosh:
that may be a good short term view. We have inflation here in the United States. Our inflation may get worse over time. I believe it will. Long term, this is probably not the best thing to do. However, when you're at a 142.7% inflation, the house is on fire. You do what you have to do, and that would be a good move at least maybe for the next few years. I believe he has said he will abolish the central bank. I have no problem with that. Jefferson, one of our founding fathers, Thomas Jefferson, was very adamant that we should never have a government run bank. There's a quote about that, famous quote that floats around. I keep intending to actually do an episode on that, and maybe one day I will. So I won't go into that, but central banks are, in my mind, they're not a good thing. So, anyways, not to elaborate on that.
He has said he will do that. He has he will go in and rip out a bunch of governmental agencies. I'm sure he will. Will there will everything be perfect? Absolutely not. Is he pro Bitcoin? Seems to be, we don't know where that's gonna go. Will he eventually move them to a Bitcoin standard? I would love it if he did, much like El Salvador, I do not know if that will happen. Has he gotten involved in other things certainly in the past? Absolutely, yes. So we know, historically, he's not been Bitcoin only. It remains to be seen what that actually means. I would love to believe and if I were to sit down with, mister Milley president Milley and say, mister Milley, president Malay, I apologize. I don't speak to such fancy people, so I don't I don't know all the niceties. I'm sorry.
President Milei, you know, are are you a a Bitcoin Max here? Are you a Bitcoin only guy? Maybe that's a better way to say it. Well, yes. Okay. Great.
[00:24:24] Unknown:
Here's what I don't see, the libertarian might say, well, we should just let all these compete, and that's probably his viewpoint or it was. We've seen that. Bitcoin is the only one that has any long term longevity.
[00:24:41] McIntosh:
Heath, it's done okay. It's been around for a while. I don't think it's long for,
[00:24:47] Unknown:
I think ten years from now, it'll be gone personally, for various reasons. That would be the libertarian argument. We're just gonna let those play out. Well, I don't want people to get hurt.
[00:25:01] McIntosh:
Besides, it's make it's difficult to make a theory of work as a governmental currency, but, anyways, not to get off and all that. So we will see how Argentina handles this. It is a step, which is good. It is a break from what they've done for a long time, which is probably a really good thing. I do hope that Argentina starts to turn around. I would love to see Argentina be like El Salvador. Be on some Bitcoin standard, Bitcoin friendly, friendly for Bitcoin investors, friendly for people who want to move there,
[00:25:45] Unknown:
because of Bitcoin laws there, tapping their massive, massive hydropower resources for Bitcoin mining. To Bitfarms, I know, for example, this will be something I will be following closely.
[00:26:02] McIntosh:
I do own stock in Bitfarms. They recently announced. They agreed, made an agreement with the Argentinian government or the energy company that runs which is a governmental run agency, if I'm not mistaken. For the next 6 months during their wet season, I guess, and if I got that wrong, I'm sorry. It's I do know it's summer down there, which I don't know why that'd be the wet season. But, anyways, it's the cheaper time, I guess. They've negotiated I think it was 2¢ per kilowatt, power, which is incredible. I mean, I I would just die if I had that kind of power. I'd just die and go to heaven. Just be like, I'm done. I can't get any cheaper power than that.
[00:26:51] Unknown:
Anyways, they've got a lot of work to do. They do.
[00:26:58] McIntosh:
It will be interesting watching them over the next few years. I do hope to make it there. Of course, I hope to make it a lot of places. So me just saying that, maybe not the best indicator that I'm going to go there.
[00:27:10] Unknown:
I'd love to go into Buenos Aires. I'd love to go up into the, Patagonian area, lower down. I'd love to spend time even on the, Andean mountains there, the Andes, between Chile and Argentina, maybe jump over into,
[00:27:33] McIntosh:
the area that goes down into Santiago, there's some really interesting places here that I would love to see. To be honest, just being truthful. It will not be this year. It will not be next year. I've got other plans for next year, but maybe maybe down the road. And if they really start to turn things around, then, you know, maybe at some point down the road, there's some investment there. It would be great. I would love to see that country grow. So, Macintosh, why are you doing this? Why are you talking about other countries again? You do this. You go off. You talk about this. Talk about that.
[00:28:16] Unknown:
Why?
[00:28:18] McIntosh:
Good question. I'm glad you thought of it.
[00:28:24] Unknown:
Here's the answer. It's important because
[00:28:29] McIntosh:
I know that the 100 and however many odds, 60 or 90
[00:28:34] Unknown:
odd countries in the world cannot continue the way that they are. They cannot mathematically, socially.
[00:28:46] McIntosh:
And by mathematically, I mean, the amount of debt that they have. United States, a 125% whatever debt to GDP. Bank, bank. Japan, worse, you know, so on and so forth. That can't continue. Socially, the countries there are so many countries in the world
[00:29:06] Unknown:
right now, that are tearing themselves apart.
[00:29:11] McIntosh:
There has to be a change, and it's either going to get a lot worse and then get better possibly, or it's going to get a lot worse and then get even worse or it's going to get better. Does that make sense? I think that's kind of the three outcomes. Countries like Argentina. Countries like El Salvador can lead the way, and they can show the world, the United States, Russia, Canada, Western Europe, whoever. This is working. You, whoever you country your country, will have to make a change. How are they going to do that? Are they going to become more disruptive and fight with other countries over resources and strip more money from their citizens and cause more chaos by the I mean, the banks are starting to close down accounts if you're talking about crypto. I mean, it's just the insanity is is like ratcheting up,
[00:30:23] Unknown:
and I don't think we're making it up. I think this stuff is going on. It has to change. So the reason why I talk about these countries that I have hoped for is because I want them to lead the way. Not only that, these are countries now, Argentina. Yes, Argentina has had a lot of inflation,
[00:30:47] McIntosh:
but there was a time when Buenos Aires was considered to be the Paris of of the, whichever direction it is, of the east of, to the east. Not saying that right. Certainly of Latin America. How about that? We'll go with that. It was a beautiful city. Not that it is not now, but, you know, it was cultured. It was there was so much economic activity going on. It was prosperous. That's the word I'm trying to say,
[00:31:18] Unknown:
and it's not right now. It can become that again. Wow. We just printed two blocks. You've got to be kidding me. That's crazy. So 817,5 69 was a minute ago, and then, like, just now, 817,570.
[00:31:37] McIntosh:
So we printed, like, three blocks in three minutes. That's that's a lot. That's kinda weird. Hey. With statistics, that's the way it works out. Remember, this is not locked to ten minutes, it's there's well, solving a puzzle is not the right way to put it, but, anyways, it's just chance, so these things happen. I wonder if brains mind any of those. Excuse me for just a second. Gonna jump on and take a look because I can't help myself. I need, like, an app that every time I get a block, it just kinda beeps me. Beep.
You made money. Beep. Unfortunately, no. Well, that's sad. So as I talk about these countries, I'm I'm doing my best, frankly, to cheerlead them, if that makes sense. I want them to win. I want these countries in Africa to win. I am always about an underdog. That's why I talk about a Bhutan. I think Bhutan made a fabulous choice, spectacular by investing, I think, 100,000,000 US dollars into Bitcoin mining operations in the Himalayas because, hey, it's cold. We don't have to worry about our miners overheating. We've got lots of hydroelectric power. Hey. Let's hook it up and build some sound money.
Yeah. Anyways, enough about that. As you know, I'm you know? Just to wrap this, BlackRock, they're gonna make their millions. They're gonna make their 1,000,000,000 and 1,000,000,000,000.
[00:33:26] Unknown:
I'm just as worried about the people out
[00:33:30] McIntosh:
on the border of Chile and Argentina in that Andean mountain region. God forbid I'm saying that wrong. I hope not. Who? They're experiencing a 145% roughly inflation.
[00:33:47] Unknown:
And unlike Diego, who we talked about who they can swap to dollars, and yes, it's it's a huge mess and it is not good for their business, but these people out in the sticks, so to speak, as we would say, they can't do that. That's why Argentina needs sound money,
[00:34:08] McIntosh:
and then they need that transition so that the people in the sticks understand how to use the Bitcoin blockchain. You know, we we act like it's no big deal. It is for a lot of people. I hope that made sense. I think it all did. It all did in my head. It shouldn't yours. Sorry.
[00:34:35] Unknown:
Yeah. Yeah.
[00:34:38] McIntosh:
So good luck. Seriously, Argentina. Alright. Let's talk about our supporters, Kyrin. Kryin sent in a funny message this week. He sent in a, row of ducks boost 2,222. This was for episode 144. I want my right to mix,
[00:34:59] Unknown:
the last episode.
[00:35:01] McIntosh:
And I appreciate that boost, Kyrin, of course. He said I had to Kyrin, to be honest before I read this, I had to go back and listen. I had to go back and listen to the entire episode. It actually happens near the end of the episode, at least the end of my discussion, the topic to to kinda pick up on on what this was about. He said, That pause after, quote, attack the government, quote, is going to get you put on so. And there's, like, 1, 2, 3, 4, 5 hoes, mini list. I'm like, what are you talking about? And that's literally what I said. It's a little taken out of context, and I did pause just so everyone's clear, in case I haven't mentioned it anytime soon.
As I get older, as I my children get older, to be honest, I find myself becoming more and more of a pacifist. When I was 21, I probably had a a different outlook than I do now. In fact, I know I did. And, I would never call for violence against any government, and sometimes that's extremely difficult,
[00:36:19] Unknown:
for taking of human life over political things.
[00:36:25] McIntosh:
The only time, personally, to be honest, is, that I would believe in that is if you showed up at my house trying to rob and beat and,
[00:36:36] Unknown:
you know, various sundry other things in my house,
[00:36:40] McIntosh:
you know, personal defense type things. You'll find out I'm not a pacifist when it comes to that. So I guess I just got put on 14 more list, Kyrin. Fortunately, here in the United States, I don't think we've quite sunk to that level unless maybe you live in California,
[00:37:01] Unknown:
but
[00:37:03] McIntosh:
I just pray for the people in California. I don't know what to tell them, But I I would there there's lines that when they get crossed that I will vote with my feet. I'm also aware that a lot of people can't do that, unfortunately. So I guess I'm in a,
[00:37:24] Unknown:
privileged position, if you wanna call it that.
[00:37:27] McIntosh:
I just know that there's a lot of people who can't necessarily get up and move if their country does something that they just completely don't agree with, and they think that that's what they should do. But they can't because they they have no money because their peso is inflated at a 145%. I'm sorry if if that sound like I was making fun of Argentina. I'm not. I'm
[00:37:53] Unknown:
just trying to proved my point because those people, again,
[00:38:02] McIntosh:
who are out in the in the sticks says we would say here in the United States who, you know, they can't afford
[00:38:07] Unknown:
to move if because of that. And I'm
[00:38:11] McIntosh:
I don't know. It's it's an extremely difficult position. Anyways, so I did not certainly, literally, me attack the government.
[00:38:22] Unknown:
So there you go. I guess maybe a little bit more about about McIntosh and about what goes on in in his head.
[00:38:29] McIntosh:
It's convoluted. I'll tell you that. My head's man.
[00:38:33] Unknown:
The older I get, the more confused I get really, and it should be the opposite, which is not good. Maybe. I don't know. Life's hard sometimes.
[00:38:45] McIntosh:
It's the way it is. Alright. Anyways, wow. Kyrin, appreciate that. We're gonna move right along now. Got a couple of anonymous boost, which these are starting to get to be regular. I don't know if it's the same person. I really appreciate it. Anonymous, whoever you are. It's rather cool, actually, that you're boosting anonymously, and, literally, I have no way of knowing who you are. I don't even know what app you came from. That does not show up, so that's
[00:39:12] Unknown:
great. 500 sat boost, episode 143. Are you in the right mindset? No message. And then a 100 sat boost,
[00:39:23] McIntosh:
episode 144, I want my right to mix. So I appreciate both of those. If they were from the same person, I'm pretty sure that they are, the total support was 2,772 sets. So I do appreciate that. That was awesome. Yes. I I do appreciate the treasure that was shared here with generation Bitcoin. I would like to share some with the listeners, and here's how we can do this. I mentioned from time to time, most weeks, if you clip an episode and what I mean is if you go to app like fountain and you clip 1, 2, 3 minute clip from the episode. If it's the current episode, it's a 500 sat boost back to you.
If it's an older episode, then it's 300 sats. It's a way for you to make some treasure. It's a way for you to make some sats from me, So you're welcome to do that. Based on last week's recommendation, I've actually started doing. I think I told you I might be doing this last week, but I implemented it. I've started implementing it. I'm splitting up my podcast across multiple apps. I should have done this previously. So now I have fountain, which I've used traditionally, podcast guru, which I'm really liking. I will say sometimes the the UI, maybe not quite what I expect. I'm managing to get around, but, but, you know, it is solid. It is very quick. I will say that. Definitely.
I think it has a very bright future. And then also, Podverse, which I have used just in the past. Looks like they just got a new version came out, 4.15.0. If you're on the beta test, I guess, you can click with Podverse. I can I know that you can do that? You may have to let me know if you do that. I won't get automatically noticed. I won't automatically notice it if you do it on there. But I am I've got, like, 10 on here. I'm trying to get, like, 10 podcasts on each one to kinda spread this around, test out the different podcasts so maybe I can help people if they need help, give suggestions, or just see what's out there regardless.
So I'm now on three different ones. I'll probably bring on in 1 more this week and keep pulling stuff off of fountain. Fountain had been overloaded. So we'll see how that experiment goes. News and links. Alright. I do wanna cover a bit of news, if you follow me on Twitter, I'm on @McintoshFintech. I post kind of in real time as I see these things come up. Of course, I've already talked about Javier Milei.
[00:42:12] Unknown:
He is the new president.
[00:42:15] McIntosh:
I posted about a video. This is what I was talking about. Ministry of Culture out, Ministry of Environment and Sustainable Development out, so
[00:42:23] Unknown:
on and so forth. It's just like Ministry of Public Works,
[00:42:31] McIntosh:
Ministry of Science Technology Innovation. Look. I'm not saying that some of these are not bad things. I mean, like, maybe, I don't know, environmental, what, Ministry of Transportation. We probably need that. We need transportation. We need a transportation policy, I should say, in a nation. But these things, they take over. They get a life of their own. And so I you know, in a country that's at a 145% inflation that is printing money like no tomorrow, they have to do these kind of things just to stop the bleeding. They have to figure out, you know, what's what can we trim back? And then maybe at some point, if they need something, they add it back, but you've got to build a solid base. And right now, they don't have that. So, anyways, interesting stuff there.
I thought this was interesting. This guy named wicked, w_s_bitcoin that I follow, he posted this. And he said, you may not like this, but within the next few years, I bet one of the 1st Bitcoin mints and what he's talking about, I believe, is like stablecoin on Bitcoin. Of lightning maybe with Taproot, for example, will emerge that becomes highly trusted and lasts for centuries. You don't you won't have to trust it, but many will, and they'll be fine. So this is kind of the argument. Well, we want Bitcoin to be noncustodial. That's certainly absolutely the best. But with the number of people in the world, with the widespread adoption of Bitcoin, it will be necessary, is this argument that that there are trusted institutions essentially that that we use for Bitcoin services, and it's going to happen whether you like it or not.
It remains to be seen how stable those are, and some of them will not last. But it will be part of the fabric, and you're just you will have to deal with that. Not everybody can afford a $10 on chain fee. I mean, just that's just not gonna happen. So, anyways, thought that was interesting. He also pointed, he also posted earlier today. For the first time ever, more than 70%, 7 0% of all Bitcoin has been hodled or or held in cold storage for more than one year. That's incredible.
[00:45:09] Unknown:
Strike,
[00:45:10] McIntosh:
some updates, you can read about that as well. More ways of getting money, fiat into the system, in the form of Bitcoin. Getting money out. You know, of course, this is a KYC service, but it is available virtually all over the globe. Fidelity who they're a huge asset manager, and they've been very vocal about their Bitcoin support. Said if powering Bitcoin, a global digital monetary network, is considered wasteful, then what does that make the traditional financial system? For some context, Fidelity is part of the traditional financial system. It's one of the world's it's one of the largest financial institutes in North America. Every day, it becomes clear that Bitcoin is the best asset that we have, large financial institutions are coming out to say this BlackRock.
These are some of the wealthiest people and organizations in the world. So, yes. I do believe that 2025 2024, excuse me, will be the year of the institution. Last year this year, excuse me, year of regulation, and I've been pretty accurate about that. That regulation will continue. Some of it we may not like. In fact, maybe a lot of it we don't like, but it will continue. But next year will be the year of the institution. And I don't mean MicroStrategy. I mean, BlackRock. I mean, Fidelity. I mean, these type companies, ETFs will come online, and they even if they're approved at this point before the end of the year, which is not guaranteed, they will not come online until next year. So I'm going to go on record right now prior to January 1st saying that next year will be the year of the institution becoming involved in Bitcoin in a big, big way.
And one more, I had to throw this in, Peruvian bull, which is Peruvian underscore bull. Said this. CPI was lower than expectations because health insurance costs were, checks, notes, down 38%. Who actually believes this crap? So what he's talking about, our CPI numbers came out this week, and they were lower. They were, like, 3.8 instead of 3.9 or whatever it was percent inflation. And one of the big things was health insurance was down 38%. I promise you health insurance costs have not got suddenly gone down 38% year over year in the United States. That is complete and other baloney.
I have no idea how they even came up with that, but that's the kind of stuff that they use to skew the data. It's crazy. So I believe I've mentioned this, the parliament the EU parliament had a bill come up before it essentially, and that maybe they don't call it a bill, but it's a bill at least in our lingo, about chat surveillance, essentially, warrantless mass surveillance of phones and circumventing end to end encryption. Fortunately, with an overwhelming 51 to 2 vote, the parliament has decided against that. So that's really good news for the EU. I'm proud of y'all. I have no idea how your system works if you called your congressman or whatever, your parliament member. I apologize for my naive to tell you, but I promise I would bet most of you don't actually know how our system works either. So, hey, it goes both ways. Right?
But we'll fumble through it. Anyways, that's really good that y'all did that. So great news. And here in back in the US, $8,200,000,000,000 of US debt will be maturing in the next 12 months. So what that means is that debt will roll over, and it will roll over at a higher interest rate. So more interest will be generated that will have to be paid as part of our debt, and we're already approaching if not at $1,000,000,000,000 a year in interest alone on the federal debt. It's insane. It's insane. It's insanity. Alright. There we go. That's it. That's what I had for the news.
I've told y'all before this is time of year. Things just kinda slow up a little bit. No ETF news this week. No real crazy things. The SEC did actually ask a few of the ETF companies who wanted the ETFs basically to make some changes to their, their plan, which actually were beneficial towards Bitcoin. I'm not really gonna go into that. It's kind of in the weed stuff, but it was a good thing. I'm not sure that these will be approved before the end of the year. I'm quite confident that they will be approved.
[00:50:12] Unknown:
You can argue whether they're good or bad. They are happening.
[00:50:17] McIntosh:
Now we can the price will benefit. We all know that. Is it best for Bitcoin? It's not best for Bitcoin for those people. That's not the best way to own Bitcoin, but I'd rather they do that than own, I don't know, Microsoft stonker. Chat API GPT. Sorry. Chat GPT. I think that's a better bet, So I'm okay with it from that perspective. Does it violate Bitcoin? Does it circumvent the rules? Does it you know? No. It's
[00:50:53] Unknown:
all proper legal, you know, the way that it it's operating within the protocol rules, so therefore, it's like ordinals. I I hate ordinals, but
[00:51:05] McIntosh:
ordinals are allowed. And until that changes, if consensus is given and that's changed. Then they're there, and they're cluttering up the mining blocks and causing high fees and, but that high fees may drive innovation. We're much better prepared than we were in 2017, for example, for high fees, and we will have high fees. This bull run. I promise you. People are gonna be crying over these rates. You should be getting prepared. We will talk about that. I've already said that. You really do need to be getting prepared. If you've got lightning channels, you need to get them.
You need to make sure that those are the size that they need to be, and that includes your Phoenix wallet, by the way, if you happen to use that or some such custodial setup because people are finding, oh, I'm trying to send this tiny little thing to my lightning wallet, and it's charging a $10 fee. Well, it's because it's having to splice in a channel, and it's expanding it, so it's doing an on chain transaction. Well, the on chain transactions or off the chain. That's probably not a good way to say that, but they're really high. So therefore, they get charged for that. So you need to think about these things now, not when the fees are double, triple what they are even though they're already high. So that's it.
That's what we got. Generation Bitcoin supports podcasting 2 point o. We are a value for value podcast. I do not have sponsors. I do not have advertising. I've actually done a lot of thought about this. I'm currently not going to do that. Maybe I'll talk about this. I'm not gonna do this tonight, but there's a point in time I wanna talk about this. I've actually found out some interesting things. For example, one of my favorite podcasts. I'm gonna throw this out real quick, and then I'm gonna wrap this up. I'm gonna skip a lot of this. One of my favorite podcasts I listen to. So I'm a token fanatic and lord of the rings, simrillion, the hobbit, you know, all the back material, all this stuff.
I'm a fanatic. I read it more than I should. And, so I listened to this podcast. It's called the prancing pony, which was the name of, let's see. That was the name of the in in Bree. Cute little name. Prancing Pony. Show's been around for a long time. They have 12,000 downloads or users, whatever, listeners is what he called it, 12,000 listeners. I assume that means per episode. I assume that means on a regular basis, But they do, you know, a bucket load of advertising. Like, you wade through, like, 3 minutes of advertising up front and then, like, 2 minutes in the middle, and it's ridiculous. They're clearly not value for value. They're certainly not value for value. They do not stream sets.
[00:53:59] Unknown:
They don't, you know, accept boost, anything like that. That's not my point.
[00:54:06] McIntosh:
I'm not at 12,000 downloads per episode, 12,000 listeners, however you wanna put it. I'm not. I'm a long way from there, but I could see one day being at that point.
[00:54:17] Unknown:
I do not know. We will see when I get to that point how the value for value side of this is doing. I would hope it's doing much better than it is now because as I provide value, I would hope that people would give that value back. But I also know that with 12,000 downloads, you know, they have 2 hosts, they have an audio editor. They have community support. They have all this stuff that that they do. So they clearly are making a lot of money off of their advertising. So I don't know.
[00:54:56] McIntosh:
I know there's a lot of stuff that I will never touch. You'll never see me hawk ledger wallets. Now I have no problem talking about seed signer, which is an open source product, which you literally can buy the pieces and put yourself together. But I would not even take money from seed signer if they offered it to me. Because if there were ever a problem, I do not want my listeners to come back to me and say, Macintosh, you told us to use seed signer, and we did, and we lost money. Why did you do that? Well, first of all, I'll never tell you to do seed signer. I will tell you I use seed signer. I'm about to order 1 for my mining business because I need it. But I'm not gonna tell you to do that. I'm just gonna lay out why it might work for you. And I want no financial gain from that if you go to seed signer because that will absolutely sway my opinion.
So there are a lot of things that I will never never think about as a sponsor. Is there a time maybe when I would take sponsors who are I can't even think of the problem is I can't think of anything. I'm sure there are. I don't know. Maybe a seed plate where you put your seed, words into aluminum plates or steel, stainless steel. I don't know how you could possibly go wrong with that, and maybe I wouldn't have any problem, quote shilling that. I don't know. We'll see.
[00:56:31] Unknown:
I'm also very aware of what it sounds like when you have ads in the middle of your material. Even if it's a kind of a
[00:56:39] McIntosh:
what do they call it? A native ad where you kinda mix it in. Oh, I those actually could be the most nefarious where, oh, you don't know that they're getting paid to do that.
[00:56:49] Unknown:
I don't know.
[00:56:51] McIntosh:
Anyways, we don't have any sponsors, and we don't have any advertising. We do depend on the listener. There's 3 different ways you can do that, time, talent, or treasure. Go out, try one of these podcast 2 point o apps if you haven't. Fountain, podcast guru or Podverse. Most of you probably do listen to a lot of podcasts. Maybe you could do, like, what I'm doing where I kind of split it up, and I'll see how they work for me. But if you have a podcasting 2 point o app, then you can support a show like ours. You can boost. You can send messages.
[00:57:26] Unknown:
You can stream,
[00:57:29] McIntosh:
to the show as well. Stream stats to support the show just like anonymous did earlier and Kyron did earlier. Anyways, enough about that. I rattled on enough tonight. I do appreciate y'all being here. I am very much can I be honest? I hope I can be honest. I'm very much looking forward to this time off. Not I will miss doing this, But the commitment that it takes to do this twice a week, especially for months on end, and I do, again, apologize. I say twice a week, and then, McIntosh, you weren't on last Thursday. Well, that was life.
These things do happen from time to time, but it's pretty rare. It's it's pretty high, and I'm looking forward to this time off. But I'm also, while I'm gonna be gone, I'm going to do some things. I know I'm gonna move the podcast,
[00:58:20] Unknown:
which will help us in the future with the podcast 2 point o stuff. I know. Well, I'll tell you more when I come back in January or the last day of December or whatever I decide to do because we're gonna come back and say 2024, the year of the institutions.
[00:58:44] McIntosh:
It's so easy when it's so obvious. But, yeah, that's gonna be a big thing next year. There's gonna be a lot of things next year. Next year will be the start of the bull run if we're not already there, and I don't I think we're gonna kinda grind up for the rest of the year unless these ETFs get approved. If they do, all bets off, we may shoot right up for a good bit. We may come back down, but we'll shoot right up. It may kick off that bull market a little early, and I don't know what that would do about the end of it. We'll see. If we do really get going early on, I may have to evaluate Q4 2025.
But for now, I'll stick with that. Thanks for being here. I hope this has been helpful. I would love to hear from you. I always love hearing from y'all. I'm on you can post me a message. That's the most direct way to get ahold of me. I'm also on Twitter at Macintosh Fintech. As long as I don't get kicked off or maybe you I don't know. I'm on at Macintosh at podcast index dot social as well. That's it. Stay humble friends. Go out. Make it a great week. I'll talk to y'all soon.
