If Verizon can have a Friends and Family Plan why can't we? This week we have a great discussion about ways to orange pill our friends and family. News, notes and a good discussion.
Bitcoin Price at Time of Recording
November 22th, 2024: 99,401 USD
Block Height at Time of Recording
871,529
Software Updates
Primal 2.0
Liana 8.0
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
https://satoshis-plebs.com
Podcasting 2.0 Apps available at http://podcastapps.com and Value4Value information page available here: https://value4value.info
McIntosh can be reached by email at [email protected] and on Twitter at @McIntoshFinTech. His mastodon handle is @[email protected] and his Nostr. Kenshin can be reached on Twitter at @kenshin_ninja or on Nostr. Kenshin’s email is [email protected]. You can also follow the Satoshi’s Plebs podcast account on Nostr. We are looking forward to hearing from you!
We are looking forward to hearing from you!
[00:00:00]
McIntosh:
What is up, Pleb Nation? Today is November 24th, and this is episode 185 of Satoshi's Plebs. I'm Macintosh.
[00:00:09] Kenshin:
And I am Kenshin. And today's episode is the friends and family plan.
[00:00:44] McIntosh:
Kenshin, it's been a great week. I'm looking forward to our discussion. We're gonna be talking about the price because the price is the price, and we gotta talk about it. But, right now as we record, I am sitting at 99,531 US dollars. How about what do we have that in US or EU? In euros. In euros. I knew what they're called. Anyway Right.
[00:01:13] Kenshin:
It's, we're at an all time high right now. It's 95,500 and change.
[00:01:19] McIntosh:
So we have not broken a 100,000 yet. Although, honestly, even though this recording won't come out for a couple of days, we could literally do that while we're recording. And I will try not to get too excited. It was funny because I was talking to my wife 2 nights ago, and I said, you know, I I actually I'm not that excited about it. I mean, I am. It's a number. It's a really nice number. It creates, like, it's what what is it? A 100 sats to a cent. I think if that lines up, I'd have to look that up too. But, you know, it creates some some nice things there, but it's just a number.
And I don't think this is where Bitcoin is going to end up. I certainly don't think this is the top of this cycle. I think we're gonna go significantly higher, and I'm being very careful not to say what I think because frankly, it might blow some of your minds, and that's okay. I stand by this thesis that I have had for months for actually probably well over a year at this point that the cycle top, it will not be until December, November, December of next year. So basically, 1 year from now. And if you think what we've got going on right now is crazy, you wait until then because a couple of things.
Even though we are are starting to see corporate adoption, even though we are we are seeing nation states talk about Bitcoin as we're gonna talk about later, even even though all these things are happening, it's first of all, very early in those. And second of all, retail hasn't even FOMO ed in yet. I mean, we're months away from an all time high. So keep that in mind. What where are we gonna go from here? Well, I believe we are gonna touch a 100,000 minimum. I mean, I don't see it making a significant drop before we reach these last couple of $100. I would be shocked if that doesn't happen.
I think most likely it's gonna go ahead and chew on through that. And then we may go a little bit higher. Maybe 108, 116 is actually a really nice number because if y'all remember a few months back, we sat at 58 k. It hasn't maybe hasn't even been that long. But 2, 3 months back, probably, we sat at 58 k for a long time. And you know what double 58 k is? It's a 116. And Kenshin, I don't know if you believe this, but things like that actually statistically do work out. It's not like it's every time, but people are funny and things like that do matter.
So I'm thinking we go sorry. Let me finish this real quick and sorry. I'm thinking somewhere in that 115 to 120 range, and then I we'll probably go back and test a 100 And and and then we see what happens. We have not had a real pullback in quite a while. That's no guarantee. And, of course, as we always say here at satoshisblev, you should be dollar cost averaging. Don't this isn't I'm not giving you trading advice. I'm just telling you what I think may happen. And that's not a ploy to kinda get out of any legal issues. That's the truth. This is not trading advice. I don't want you trading on this. I am not trading on this. I'm just telling you what I think might happen. Sorry, Kenshin. I cut I cut you off.
[00:05:07] Kenshin:
Yep. And to go to your first point that you said that you're not so excited with a 100 k, I think I'm the same actually. It feels like it's a human psychology right now, playing with a number, round number, a 100 k. Everybody is so hesitant about this limit, let's call it. And the moment it goes through it, then, yeah, then sky's the limit, I guess. So so I'm more excited to see what happens after the 100 k. Right.
[00:05:38] McIntosh:
Right. And it's always about adoption. Right? So one of the things that I repeatedly drive home here, my my goal, one of my major goals for Bitcoin is simply that it's a global reserve currency. Because using the US dollar gives an unfair advantage to the United States, first of all, which it does. And as an American, I benefit from that. But it's also creates fiat chaos. Okay? We have inflation. We have all of these things going on because of the US dollar here in our own country. I'm sorry. You're on your own wherever you are. You have to deal with that. But all these countries are the same. Their money isn't backed by anything solid and they print it. I mean, that's basically how you get debt.
And well, I that's what I'm going for. When we have global reserve currency for Bitcoin, the number will not be a 100 k. I promise you. And I'm just gonna go ahead and tell you this. And and you can just turn this podcast off if you think I'm crazy, but come back in 10 or 15 or years, maybe less, maybe significantly less. It'll be at least $1,000,000 or more because there's the numbers, the math, and that's something we've maybe never really walked through here. But the math works out. 21,000,000 Bitcoin. We're not printing anymore. Very few are left to actually mine.
I think the last number I saw, it was around 95% or so are already mined. So it's not like you're gonna get a dump on the market of a bunch of Bitcoin. Usage is going up. This is it's just a matter of time. So, anyways, I will step down off of the soapbox and we'll move on.
[00:07:38] Kenshin:
So let's talk about the block hat then. Okay.
[00:07:42] McIntosh:
Right now, looking at mempool, we are at 871-529. So funny thing, I was making my notes last night for this, so hours and hours ago, and I actually put 871-525. I only missed it by 3 blocks. Not too shabby. And then I updated it thinking we'd get there and put 28 and instead it's 29. So there. That's fixed. Sorry. The difficulty adjustment. And let me speak to this real quickly. As a minor, frankly, this is directly hurting me. I might own ocean these days. I switched from brains, which is something that I've actually not talked about on here. And at some point, we need to. But I switched from brains a while ago.
And so I track, of course, when blocks get mined. We've actually overall had a really good month, but I can tell you that a whole bunch of hash rate went online just a few days ago, since about November 10th because the blocks dried up. So we've only, mined 3 blocks since, like, November 11th. A lot of hash rate going online and we see that in the difficulty adjustment. Right now the blocks are getting mined 9.3 minutes. So the target is always 10 minutes. Right? It's very very fast. So right now we're looking at a difficulty adjustment. It actually just went down a little bit. 7.97% up on December 1st. When I was looking at it last night, it was actually over 10%.
Crazy. So last, the last one, which was very recent, it hasn't been that long, was only 0.63% up. Alright.
[00:09:39] Kenshin:
And our fees are quite high, I would say. Somebody's
[00:09:43] McIntosh:
printing something is all I know. I don't there there must be some some room or something going on. But, yes, we're 23 sats per vbyte, just for the low priority. High priority well, medium is 27 and high is 29. So you're looking at about still, I mean, that sounds terrible, and and it's more than I like to pay certainly, but $3.19 up to 4 dollars for a transaction for a typical transaction. So that's it. And, and one last thing I wanted to mention, the mempool itself, the number of transactions, has actually gone up quite a bit. We're at 720 my excuse me.
729 megabytes up from the mid 5 fifties last week, and the unprocessed transactions right now are almost 30,000 or 300,000. 2,98,140 transactions. So getting stacked up in there. Yeah. It's getting busy. That's what I see. And it's reflecting to the price, I guess. So. Hey, Kenshin. I just wanted to take a few minutes before we get started, and and I know something that you did this week. So why don't you let the listeners in on on on what's going on in your Bitcoin world?
[00:11:05] Kenshin:
Right. So this week, I actually received finally, 2 small Bitcoin miners. They are from, Kanan. They're called Avalon Nano
[00:11:18] McIntosh:
3. Okay.
[00:11:20] Kenshin:
And they look like very small, heaters, appliances. So they just use a 100 watts of energy. Okay. And they generate heat.
[00:11:38] McIntosh:
And at the same time, you mine some Bitcoin. So you're actually using these as a heater? Like, you got them, like, kinda like a floor heater or whatever. You've got them around your house, and they're providing heat. Yeah. They are not that big,
[00:11:52] Kenshin:
but yes. Right. I put them around the house, one in the living room, for example, and just to warm up a bit. We we have a cold winter here in Sweden. So I've heard that. I would use something. Yeah. It's not a surprise. So I would use that energy anyway to heat up the house somehow.
[00:12:13] McIntosh:
So So the next step is to buy an s 21 and put it in your basement and pipe the heat up to the rest of the house, and then you don't ever have to turn your heater on.
[00:12:23] Kenshin:
I am actually considering it because the floors are quite cold Mhmm. And I have space under the under the house. And, I'm actually considering this. No. I I believe it. Because I I would I have a 2,000 watt heater that I turn on sometimes under the house to warm up the the space. So why not do it with a proper Bitcoin? If I'm
[00:12:49] McIntosh:
remembering correctly, an s 21 is either 15 or 1800, and I'm sure it would depend on the actual model. There's different models of it as well. And there are this is an area I'm not familiar with, so I'm a little out on a limb here as we say. But, basically, there's some settings. There's some equipment that they built that you can literally take that heat and kinda pipe it into your heating system and then you utilize it in a very effective manner. So if you're in a a cold climate like Kenshin is, it might be something you really wanna look into because it's something that you're gonna have to use anyways. So you might as well benefit from it, from from that, mining. Now I happen to know, at least from what I understood, from what you were telling me, you had plugged in those miners earlier this week. Right?
You've already mined your first, actually, 2 blocks, I think Yes. On Ocean. Now when we say you've mined a block, that doesn't mean that Kenshin got the entire block, unfortunately. Because, your pal Macintosh would be here asking for, I don't know, a loan. But he did get part of that, as so we actually mined on the same pool on ocean like we talked I'd mentioned earlier. And so when both of those blocks were mined, we got to share that. He got a share based on what he put in, and I got to share based on what my miners put in. And that's kind of the way that works.
And as far as I can tell with ocean, it's a very fair system. So very cool. So how does it feel to have a few sats?
[00:14:37] Kenshin:
Yeah. It's very exciting. Of course, I I need to hit the minimum amount to receive the set. So Right. Right. And it's it's it will take some time with those little miners. They they only I think you can set up a lighthouse.
[00:14:52] McIntosh:
Is am I correct? So you can actually get it out. I mean, it's still gonna take you a while, but, like, I don't use lightning for my payout, and I have to wait till I hit a 1%. And it does take a bit, but, they they had the lightning set up so you can take it out at a much smaller level. I may try it. Yeah. Very cool. Very cool. Alright. I unfortunately don't really have a whole lot of news this week. It's just been work and work and work. In terms of well, no. I do have news, actually. Everybody sit down. So this is I'm gonna tell you a little uncle uncle McIntosh gonna tell you a little mining story here. Hang on. While we're talking about mining. I have had a miner.
This is just part of the business, unfortunately. And at some point, I'm gonna speak about this maybe, more extensively. This isn't really a mining show, but you have your miners. They're little computers. They're sitting out there cranking away. Well, sometimes they break. And I could tell we're in a bull market because I had it's actually a fairly new miner. Only had it for a couple of months, and it broke. And it was offline for over 2 months, while it got repaired. So, Macintosh was pretty upset about it, to be honest, because I'm watching the Bitcoin price shoot up. I'm watching all these you know, and I'm still making satoshis off of my other miners. But, I mean, this was just dead in the water.
But the good news is, right before I got out the pitchforks, to storm the, the hosting facility, It did get put back online yesterday. I think I actually put it on last night. It might have been the night before. But, all my miners are online, and they're all mining, and everybody's happy. And I am ready for that next block to be mined by ocean, which I don't know when that's gonna be. It has now been 63 hours since the last block was mined. Oh, no. 33 hours. Boy, I haven't refreshed that screen in a while. 33 hours. So a little bit over a day since the last block was mined. So maybe we'll get one soon. We will see. But, yeah, I was I know that's maybe not exciting to everybody, but it was exciting to me after 2 months. It was, like, 8 and 9 weeks. I don't know.
So we both got our minors up and running this week. I and I actually didn't even think about that until I was about to say nothing happened this week. And then I'm like, oh, yeah. That did happen. Yeah. So, at this point, I've talked about mining. And at this point, if if some of you are actually thinking about it, like, kind of the route that I went where you buy the miners and they're hosted in a facility, at this point in the cycle, you've probably it probably would not be a good idea at this point for you to get involved. The minor, costs themselves are going up.
The host facilities are I know Kaboom racks. They told they said it on Twitter. They're full. If you have a very big order, they might be able to basically open up a new area for you, but all of their little, all the slots in their current area essentially are full. So I'm not sure at this point. If I were you, I'd be out buying new miners, unless you were, like, plugging them in at home. Maybe you had solar power or something like that as a way to defray the cost. But, just my little tip for the week there. Alright.
Very cool. So, Kenshin, this week, we were gonna talk about our friends and family plan. I hope that caught your interest, and we will we will go ahead and dive into that. And why don't you go ahead and get started and tell us what we're talking about?
[00:19:12] Kenshin:
Yeah. So today, we will talk about how to, let's say, talk about Bitcoin with your friends and family, how to help them get started. Maybe some, fun ways to, yeah, to introduce them to Bitcoin.
[00:19:27] McIntosh:
I mean, I cannot imagine that over the holiday season that's coming up that people won't be talking about Bitcoin. So, this might be a very, very useful topic for our listeners out there.
[00:19:46] Kenshin:
Exactly. And I have already had some family members asking me about Bitcoin recently. So it it feels like it's starts getting out there in the news again. Right. And people notice it. So I would say that, if I start with some examples, the easiest way to that I got 2 of my family members to get started with Bitcoin was on their birthdays. I after I had told them about Bitcoin a few times Mhmm. On their birthdays, I said, okay. Now please go ahead and install Bitcoin Wallet app on your phone. Okay. Create a wallet, and then I will just send you some stats.
[00:20:34] McIntosh:
Okay.
[00:20:37] Kenshin:
So, of course, I gave them a recommendation which wallet to install. At the time, it was BlueWallet. And I like BlueWallet because it was easy to set up for them, complete beginners, of course. And BlueWallet also has the function to use dice rolls to improve the, how is it called Randomness. The entropy. Right. Yeah. And the randomness of of the generated seed words and the private key. So they did that. At the same time, of course, I told them how important it was to write down the the seed phrase and, the twelve words Mhmm. And keep them private and in a safe place and have a backup as well somewhere else.
And after they did that, of course, I send them some Bitcoin. And since since then, sometimes I told them, have you seen the how much is it worth now, the Bitcoin you have? Right. Blue wallet. You know? Because they remember how much it was when I gave it to them. So then they go and look. And it's like, oh, that's interesting. It went up. So that's, I would say, the most typical example and way to do it. Of course, one one of my brothers, when I told him to do that, he procrastinated for, 6 months or something. So
[00:22:11] McIntosh:
so it's, I think it's easier if So he didn't get as much Bitcoin.
[00:22:17] Kenshin:
Oh, well, I had planned to give him around numbers, so he got the same Bitcoin from me. Just to keep his father. Well, I want to be fair to to both of them. So so I send the same amount to both. So, but I have a more more fun example. Yeah. I love this. Question a lot.
[00:22:43] McIntosh:
This is awesome.
[00:22:45] Kenshin:
So so then another family member, he had his birthday, and and we decide to to go to his place for his birthday. And we gave him a birthday card. The typical, you know, birthday card, that has the balloons in the front. And then he opens the card, and the only thing written inside is 12 random words. That is awesome. If you can imagine. And she looks at it. And at that point, we barely talked about Bitcoin or yeah. Probably we we talked a bit about it. Right. But nothing special, you know? And then he reads the words and he cannot figure out. And we let him for 1 minute to look at the words and he reads them again and again. Is is that do I need to create a sentence? Is that a hint? Is that a game? What what are they? They didn't make any connection, any sense, those twelve words.
And then in the end, we say, yeah. You know what? That's Bitcoin right there. It's yours. That is us. And then we help him install a wallet and put the words in on his own so he understands how to actually restore them. So then we said, so this is your key. Keep it safe. You can always restore your wallet with this. And if anyone else gets a hold of this card, yeah, it's their their Bitcoin. So keep it safe. That's awesome. So yeah. I like the expression and the, you know, the question, in his face, the question mark, you know, trying to figure out what are those twelve words. So So I think that's that's a nice gift. I have a question,
[00:24:36] McIntosh:
about these 2. Obviously, both of these are you're involving Bitcoin on the main chain on the main network?
[00:24:46] Kenshin:
Correct.
[00:24:47] McIntosh:
Have you, put any thought into, like, giving somebody Bitcoin over lightning over lightning wallet, or Yeah. That kind of thing?
[00:24:59] Kenshin:
Yeah. I have done that with, actually with my wife. I have done that, with my son even. Okay. And my son is very, very young, so he barely understands what money is, but he saw the number change from one second to the next. And I actually actually, my son was a bit disappointed because he only wanted 1, and I sent him, I think, like, 11 Right. 11 Right. And then he complained, no. I wanted 1. I wanted 1. We had to send 10 back and just he he liked the round numbers of 1.
[00:25:39] McIntosh:
Marty, Marty Bent, does a podcast with Matt Odell, and then he does his own individual one. And I don't know which one it was on, but he has talked recently actually about he set up one of his son is pretty young, I think. 4 or 5, 6 years old, something like that. But he's actually set up a lightning wallet for him And for his little chores that he does around the house, he pays him in Stochi's. Right. Which I thought was pretty cool. And you're teaching them early on responsibility, getting paid for your work, protecting your Bitcoin. Right? But that Bitcoin, I mean, no. It's it's not a whole lot. But as he grows older, you know, I I do think there's going to be time, a time when those are actually, you know, it's not gonna be life changing wealth, but it, you know, it'd be a lot better than what it is when he paid him.
[00:26:48] Kenshin:
So I mean, one sat today, one sat in the year 2,139. Right? It's gonna be the reward of a block mined. So the equivalent of 3 Bitcoin today, it's gonna be 1 1300 and something years from now. So
[00:27:09] McIntosh:
Yeah. I I think there's more to that story, but you're right. That's absolutely correct. But that doesn't take into account the transactional fees as well. You know, we do expect the transaction traffic to grow and the fees that are associated with that over time. Well, so that's part of the block reward. Right? You've got the Bitcoin that you've mined, which is what? 3 I can never remember. Is it 3a half or 3a quarter? But whichever one it is.
[00:27:43] Kenshin:
Plus 3 and an 8.
[00:27:45] McIntosh:
Yep. Okay. But so it's that plus the block re the transaction fees, essentially. So when we're at that point where you're mining a single sat, the transaction fees are gonna have to be a lot more higher. There's gonna have to be a lot more of them because I just the amount of energy that will be expended at that point. I don't think one satoshi is gonna be worth 3 and a half Bitcoin. Does that make sense? I I I I just don't. I of current, what is that? 300,000, right, roughly? It one satoshi is not gonna be worth that. Sorry. I I don't wanna get off on that. I already did. But yeah. You know? Anyways I can say one thing to that that
[00:28:37] Kenshin:
from the code already,
[00:28:39] McIntosh:
one SAT can be split further. That is true. You're you're right. So and that will be necessary. Will it be necessary by then? That's a great question. Progyny. I don't know. I won't be a you said 2140. Right? I won't be a wreck. I will not. I promise. I will not. So it's not gonna be my issue. Hey, kids. Y'all deal with that. Grandpa Macintosh will be, taking a well deserved rest by then. Alright. Awesome. Sorry. I I I do think, sending people, you know, lightning payments, might be a a maybe even potentially an easier way to do this. My only concern about lightning is, you know, it's not on the main net, obviously.
If it literally just sat a small amount there for years years years, potentially, you it would be too expensive to move it. So, you know, there's some considerations there. But, hopefully, these gifts that we're giving people like this is going to lead people ultimately down kind of the Bitcoin rabbit hole. Right? And they're gonna learn about it, and they're gonna take responsibility for it. And they're going to use it to grow their wealth and their family's heritage and this kind of thing. So, anyways alright. Number 3.
[00:30:08] Kenshin:
Yes. Another another way was that during a wedding, another, family member got married. And as a wedding present, we gave a Saks card. And the Sats card is from the company CoinKite Okay. In I think they're based in Canada. So I had bought a few of them, and you it's it looks like a credit card, and you load it up with Bitcoin. It has a visible Bitcoin address in the front and a QR code. You load it up with Bitcoin, and you pass it around. So whoever has the SaaS card on the backside, it has, like, a scratch code that you essentially activate the the private key, and then you can move the Bitcoin a few times. I think it's 10 times, something like that. Okay.
So, essentially, it's like having a credit card and you give to someone and whoever has it has full control of that Bitcoin. Like a gift card, maybe. Yeah. It's like a gift card.
[00:31:22] McIntosh:
So that's what we did as a wedding present. Let me throw out one more idea along those lines. Our friends, we get together, like, New Year's and have a party, and we do, like, a a dirty Santa, thing where we kinda everybody brings in these little presents, and they're wrapped up. They're or in, like, a little bag. And we all get numbers, and you go in order, and you pick a gift, and then the next person goes, and the next person can either pick a gift in one of the boxes or or bags, or they can take the gift from the first person and so on. Right? So this might actually because I bet you can put a very, you know, probably 5, 10, $20 on something like that.
This might make a a kind of a fun little gift for that. A lot of my friends are aware of Bitcoin. Well, they're all aware of it. Basically, everybody's aware of Bitcoin at this point. Some of them are semi interested in it. I think it something like that actually would generate some interest, right, as a as a gift for something like that. I mean, there's a obviously there's not as much control. You don't know who's gonna end up with it, but they can take it. And then you can help them out if they need it. Just say, hey, if you know, if you need anything with this, let me know, and I'll that way, the door's open.
[00:32:54] Kenshin:
And Yep. Essentially,
[00:32:57] McIntosh:
the person that gets it is going to be the person that wants it the most, which maybe it's me if it gets back around to me. I'm sorry. I'm going to take that from no. I wouldn't do that. But, yeah, that's I like that idea, though. A wedding present or birthday present. Either way, that's that's a great I do you know what the cost is for like, there has to be some cost to that for the The Sats card, you mean? For the card itself. Yeah.
[00:33:27] Kenshin:
It's it's close to $10. Okay.
[00:33:31] McIntosh:
Okay. So it's not that cheap. But No. It's not. It's not as cheap as I would like it. Is it reuse and it's not reusable.
[00:33:39] Kenshin:
Okay. It's it's reusable. Yes. It has 10 slots, they call them. So you can actually use it 10 times. Well, I'm And you can keep putting Bitcoin as much as you want, but then to move it, you can move it 10 times.
[00:33:55] McIntosh:
Right. Right. But, essentially, just to get the card cost $10. So maybe my friends aren't gonna be getting that for 30 Santa, but we'll see.
[00:34:06] Kenshin:
But if you were planning on a $20 gift, then
[00:34:10] McIntosh:
10 plus 10. They were showing the different cards. I've got the page brought up here. It's satscard.com. And one of them is a chart of the US perch the power of the purchasing power of the US dollar. And it's like going down, of course. Here have some Bitcoin. I love these. These are really neat, covers. Oh, there's one for Sparrow. Yeah. I'll have to look at this. We'll see. Maybe if I get the card back when they're done so I can reuse it.
[00:34:43] Kenshin:
Yeah. Anyways I like an example they have in their website, I think. It's like you put a decent amount of Bitcoin, let's say, and then you go buy a car. Mhmm. Let's say in a in a futuristic scenario and just give the card. You take the card. You don't even need to transfer any Bitcoin anywhere. Just pass it around.
[00:35:05] McIntosh:
Very cool. Alright. What's number 4?
[00:35:11] Kenshin:
Number 4, I would say, is more when they get intrigued, like it has happened a few times now with with my family members. And they see the Bitcoin price or they they get intrigued anyway by the the wallet, how it functions, and the Bitcoin, how it works, and and to get more information and details. And then they come to me, And then it's what do you tell them then? And I think then it's important to try to make them understand on, what is money in general. Make a small introduction, what is fiat money, what is soft money, what is hard money, and why Bitcoin is is important, to counteract the fiat economy that we have.
Why is it hard? Why how does it work with a limited supply, how it works that no one can control it Right. And, essentially, how it creates a free market for literally everybody on Earth. And to to do that, there is a few ways, of course, there are a couple of books, or you just explained by memory. Mhmm. But I have also found this educational material by Anil Patel.
[00:36:31] McIntosh:
Okay.
[00:36:32] Kenshin:
So it's spelled a n I l, and Patel, p a t e l. So he has some really good free material, free slides. Mhmm. They look like infographics and, yeah, essentially, very visual, explaining all those things with and you can have them in the background. But, of course, you need to know what is money, and and you use those as a help to explain the Bitcoin, fundamentals.
[00:37:07] McIntosh:
Okay. What my problem with this, for me personally is I tend to overload people. I gotta be careful. You know, most people just aren't ready for to to to hear everything about like I said about how the US dollars losing its purchasing power. And it's been in a steady free fall since 1913, and it's only accelerated since 1971. Right? And they're like, what? Right? You know? And I get that because, there actually was a time when that was me. So I have personally have to be very careful about that. The material that Anil, has done, it is very professional. I saw it when he first posted, one of his big things, and I I'm not sure which one, but it may be the slide deck that you're talking about. And I'd looked through it, and I was impressed with this. Very, very good stuff. He also has a book coming out soon.
I mean, I can give people a whole list of books. The Bitcoin standard is certainly a great one to start with, Cephaddin, right, in his book? Cephaddin, Amos. Amos. And then, you know, broken money is another good one. And then if you wanna talk about kind of the World Bank and the IMF and all that, Alex Gladstein did a great book called Hidden Repression. I've read it and, man, it was I I knew there was weird stuff going on, but he puts it together. He's a great writer, but he puts it together with a lot of data showing how essentially the IMF and World Bank were set up to keep countries, the poorer countries essentially in debt.
And it's working. It's working very well, by the way. Most people don't wanna hear all that. They're just not ready for it and that's okay. But you can you can bring these resources to them and let them do this at, you know, kind of their own pace, if that makes sense.
[00:39:21] Kenshin:
Yeah. And, of course, they once they get intrigued by the Bitcoin, they usually come on their own. Right. Right. It's like, oh, I I see a bit how this works. I would like to hear more. And then I think it's your turn to to put some information out there in a good way. But as you say, not overwhelm them, of course.
[00:39:45] McIntosh:
Okay. And aside from these things, I briefly wanted to mention this. You know, I try and take opportunities whenever I have a chance just to talk to people. And I'll give you an example. This is not somebody that I know really well. We buy our beef from a place in Montgomery, Alabama, called Trinity Farms. He's a rancher there. He raises his cows on grass. They're not, you know, cattle lot type beef. And we've been doing this actually for, like, 10 years. Not continuously, but I literally bought my first half of a cow from him, like, 10 years ago. And he just came by a few days ago, and we're unloading the beef. And I said, hey.
Have you ever heard of Bitcoin? Actually, what I said was, have you ever thought about accepting because I'm it's almost a given now that people would know what Bitcoin is. At least they have some idea. I think what I said was, have you ever thought about accepting Bitcoin as payment? And, turns out he actually had. So he does not. And he, he as many people would be in his situation, didn't really know what to do. So we talked about it for a few minutes. And basically, in essence, I told him, look, you know, learn about Bitcoin. It it simply takes time. You know, there's a statement where you you need a 100 hours of basically education in order to understand Bitcoin.
And that's true to an extent to a big extent, to have some reasonable level of knowledge. But you can like, he drives around in his truck. That's he delivers the, the beef. That's part of his job. And I said, look. When you're driving down the road, you could be listening to bit a Bitcoin podcast. I mean, he drove quite a ways to get to my place. He's got plenty of time to, you know, to be doing that on the road. So, I put a seed in his in his head, in his mind, whatever you wanna say. That was a really bad analogy. But, anyways, I I I I put the thought there, and I gave him my podcast. I don't know if he's listening or not, but if he is, hey.
I appreciate it. Beef's great. We've already had some, And, you know, we'll see where that goes. But you everybody has people that they're in contact with, even those of us who work remotely. Right? We don't go into a traditional office. There's other people. And one of the big revolutions I think will happen as small businesses start taking, Bitcoin as payment because they need they see it as a necessity with a a melting US dollar. They need the ability to be able to take that Bitcoin and and store it and save it. So anyways, hope that's helpful.
[00:43:05] Kenshin:
Yeah. And I personally also like when someone is accepting Bitcoin as payment. Of course. Mhmm. So can be a, yeah, it can make the difference if I choose one service or another, if one is offering a Bitcoin payment. Right. So considering the topic of today, then we would like to ask the audience a question. Do you have an interesting story on how you orange peel, let's say, a friend or a family member? It would be really interesting to see if if there is any other methods, that we haven't talked about that are maybe fun or unique. So please go ahead and leave a comment on fountain so we can, yeah, start the conversation and have other audience members see.
[00:44:04] McIntosh:
I bet they can come up with 3 or 4 different ways that we haven't even thought of, at least. So would love to hear from you.
[00:44:12] Kenshin:
Yeah. And I would love to try more ways. I always try to to send a family member on a different way every time.
[00:44:21] McIntosh:
So that would be interesting. Sounds like you do. That's very cool. Yeah. Alright, guys. It's time to talk about our supporters, and, we're gonna I've gotta find a sad puppy picture, Kenshin. I told you I wasn't very good at this, and I'm not. I don't like doing this, but I think this week, I'm gonna I'm literally gonna put a a picture on the chapter of a sad puppy because the fact is is that we didn't have any support. Right? And And I don't wanna harp on this too much, but Kenshin and I are both out here at this point now doing the work, looking up stuff, preparing this podcast, you know, and then doing the editing and get it posted and all that. And this is a value for value podcast. I'm just gonna go ahead actually and kind of talk about that.
We do depend on on people to support this podcast. There's a lot of stuff that we really want to do. I have different ideas. Kenshin has been bringing in some great ideas as well, ways that we can improve this show, expand the reach, expand the people that we're reaching, all that kind of stuff. And some of it, just to be honest, just flat comes down to Satoshis. And I did wanna mention, I'm I everybody's kind of in price shock. Like, we've literally gone up. I don't if it wasn't a month, it wasn't very much longer than a month. Literally, like in the last month, we've gone up, like, 45%. It's an insane climb that's going on right now.
But the thing is, a Satoshi a 100 Satoshis is I I need to look this up, Kenshin. Is it a 100 Satoshis that will be a cent when it hits a 100,000?
[00:46:22] Kenshin:
I know that $1 is close to a 1,000 sats now. So that would make one satoshi No. Yeah. It's the other way around. $1 is a 1,000 sets now. Let me see something wrong. So one US cent would be 10 sets.
[00:46:44] McIntosh:
10 yeah. It is. It's 10 sets. Okay. So you can literally send us 10 sets, and that's 1¢. So if you need to lower your if you need to lower your amount, that's fine. I have no problem with that. I get it. Price is going up. Are we gonna have some draw downs and pullbacks and this kind of yes. But in general, the price is going up. Make an adjustment if you need to. I know at this point, a 1000 satoshis may be a lot for some people, and and that's perfectly understandable. But, you know, you can boost, you can stream, and all of those levels are adjustable right in your podcast app. So don't don't feel like if you only send in a few sats, we're going to be dismissive of that. We're not. We appreciate it just as much as when we get a very large donation, a very large boost.
[00:47:42] Kenshin:
So Which one is your favorite podcast, Macintosh?
[00:47:47] McIntosh:
A big one. 2 point o app. Oh, app. So to be honest, that's a great question. It changes. I use Fountain quite a bit, to be honest. And probably for a new user, I would say Fountain is probably the best. I also used Podcast Guru a lot. That those are kind of the 2 that I switched back and forth that I actually I listen I listen to a stupid amount of podcast. I listen to more than I should, to be honest, because I I don't just listen to Bitcoin podcast, by the way, either. Like, I listen to, I don't know, self improvement. I listen to business podcast, you know, different different things. So, anyways, I have some in 1 and some in the other, and then that way I can kinda use both. I like both of them.
I think with podcast apps, people get I was a Pocket Cash user forever until I started using a podcast 2.0 app when I came across that, and they didn't support it. And I understand they're actually integrating some stuff, but you get used to one app and then it becomes, your daily driver or whatever, and you get very comfortable with that. You can try there's probably over a dozen different podcast apps at this point, just literal apps you load on your phone. And there's a website, which I think I have a link here to it. Podcast app Podcasting index.
Well, there's a you can get to it more straightforward. Go to podcast apps, apps.com, and I think that takes you to the same place. But, yeah, it's a list of the different applications. Try out fountain, try out podcast guru, try out some of these others, see what you like. So alright. That's enough sad puppies. I can't I just I'll I can't deal with sad puppies. I don't I don't like them. Sorry. We are gonna move on. News and notes, sir. Oh, I get to do the first one. Yes. I'm so excited. I'm so I I'm sorry. This makes me happy. Hey, Kenshin. Get out the list. I want you to mark this off for me, please.
Number one item on the list, first thing already, Trump's not even inaugurated, and Gary Gensler has come out and said on January 20th, hallelujah, he is resigning. Look. I have a personal thing against him, and that's fine because I just think he's chairman, of the SEC. I think he's done a terrible job. I think he's not been clear. I think he's ruled by, what's the word? By taking people to court. Like, there's no regulation. It's just, I'm gonna take you to court and and try and sue you. I mean, that's literally what they've done in some cases. Instead of saying Bitcoin is a commodity, which they have said, and everything else is not a commodity. It's a security and as, such it has to be ruled in certain ways.
They won't do that. And I don't understand why other than he wants to create chaos. But, again, he is stepping down January 20th because, probably Trump gave him a call and said, buddy, I won't make your life miserable if you don't quit. So, yeah. And then the second item I was Is it Sorry? I'm sorry. But is it the exact same date as Trump getting to it? That is the inauguration day, and that is not a coincidence. I'm telling you. Yep. It is absolutely not a coincidence. So inauguration is the day that he takes office. We're like the only country that does that. Like, the election was in November, right, earlier this month, and the inauguration is not until January 20th.
Argentina, our pals down in the south, at least south of me, they got some really good news. So I wanted to highlight this because this is an example to me of an economy that is actually working. They had a trade surplus in October. Not only did they have a trade surplus, their imports were actually growing as well. So a trade surplus is like when you export more than you import. And that's a good thing for a country. Right? That makes economic sense. Now, obviously, not everyone can do that, but that should be what you're trying to do. The United States, if I'm not mistaken, we import a lot more than we export.
And that's, to me, a a sign, and I think we see that, of a very weak economy. Right? We import so much junk from China. And, because we don't make anything here anymore. So, anyways, their exports, and I've got the notes in the in the I'll have the notes in the show notes, but they're actually having a surplus whereas previously they they were not. And it's not a huge amount, but Argentina, in terms of their economy, they're they're not like a a powerhouse. So it is a good start. They they have a a trade forecast sorry. They have a trade balance surplus forecast for 2024, right now at about $17,000,000,000.
So if they close out the rest of the year, kind of the same way that they've they've been, They'll be up 17,000,000,000. They had a $6,900,000,000 deficit last year. So that was like a 2018 and 7. I don't know what that makes. 26,000,000,000 or something dollar difference in just a year, which for them is a really big thing. So another sign that Malay, is actually doing some things right down there. And by gosh, if you eliminate a bunch of government, bureaucracy and regulation and make things easier to do, things might actually work better. Just saying. Sorry. Stepping down off of that soapbox.
Alright. Kenshin, I think you're getting the next couple.
[00:54:17] Kenshin:
Yep. In the European news, we see that the poll is a presidential candidate. He promises to create a a strategic Bitcoin reserve in Poland. For Poland itself. So similar to to what Trump Right. Had promised. And I like the quote that he he said on, on Twitter, Rex. He said, if I become the president of Poland, our country will become a cryptocurrency haven with very friendly regulations, low taxes, and a supportive approach from banks and regulators. So I don't like the cryptocurrency part, but otherwise, sounds very good. Right.
[00:55:07] McIntosh:
Yeah. Absolutely. And I'm afraid that, it's become pretty apparent that crypto is just gonna come along for this ride. Of course, here at Stochi's Plebs, we never promote crypto. But it is what it is. I mean, these things are they're gonna be there until they're not. And, they will all eventually get washed out. But, yeah, that's that's really cool. And we're gonna why don't you go and do the next one, and then I'll kind of I wanna talk about this for just a minute just in general with some of the things that have been going on over here.
[00:55:43] Kenshin:
Yep. Yeah. The next one is, some news about your country. Mhmm. The US debt surpasses $36,000,000,000,000.
[00:55:54] McIntosh:
Yep. You know you know something, Kenshin. Americans have to be number 1. I don't know if you've noticed that. I see that. But we are number 1 at the debt, baby.
[00:56:07] Kenshin:
No. We have And everything is big over there. Everything is big.
[00:56:12] McIntosh:
You know, there are larger countries than ours. I'm just saying. But, yeah. You ever heard the joke about you probably haven't. I won't tell it. It's it's it's an American joke. Never mind.
[00:56:25] Kenshin:
Sorry.
[00:56:27] McIntosh:
Another time maybe. No. We did. We surpassed $36,000,000,000,000. It it stinks. The the spending is not slowing down, and I think I've said this before. Trump's gonna take office, and I don't think it's going to slow down. I don't think it's gonna stop. Maybe it does slow down a little bit, but I fully expect us to be, you know, probably well past $40,000,000,000,000 by the time he gets out of office. And that's maybe a prediction I I actually think that's a pretty safe prediction,
[00:57:00] Kenshin:
to be honest. I think it will be more. Isn't it 1,000,000,000,000
[00:57:04] McIntosh:
per 100 days right now? Right now it is. Yeah. Yeah. Right. Yeah. So, look, there's been other stuff going on here, and I kinda wanna tie this into what, this Polish candidate, this presidential candidate said. It is looking, in my opinion, very likely that we're gonna get some form of Bitcoin reserve. And I don't I'm not opposed to that. I believe that this is the kind of thing ultimately that nation states are going to do. And the reality is is that when that happens or may or when it's clear that that's going to happen, other countries are going to start doing this because they're going to have to.
And this is the kind of thing I believe that's going to drive the adoption of Bitcoin as a global reserve currency. The BRICS countries have spent the last several years. The BRICS is like Brazil, Russia, India, China, and South of South Africa originally. It's actually expanded a huge amount since then. But they got tired of the whole US trade thing with the American dollar. So they've been over there trying to figure something out, and they can't. At one point, I think they said they were gonna use the Indian rupee. Well, what happens when Pakistan, who is an indie, an enemy of India says, no, we're not gonna use the rupee.
Well, why would we do that? And I'm not sure if Pakistan is in bricks or not. I'm just giving an example. Okay. Just like Russia right now would say, well, we're not gonna use the US dollar because they froze us out of the SWIFT system. Right? That is why we need Bitcoin as this global reserve so that countries stop fighting over this mess and maybe they can actually start having coherent conversations with each other about how to get along. Anyways, what was I saying? Kenshin, you gotta keep me on track. We were talking about the countries. Well, we were talking yeah. They will eventually land on on Bitcoin. They will have to. They won't they were talking about a gold backed note or whatever, which I mean, that does sound good, but it it creates a lot of logistical issue. They've literally got the answer right there in front of their face. It's just a matter of time when they will accept that. I love seeing countries like Poland who let's be honest. Poland is not a major player in the world.
I love seeing them get in before the United States, just like El Salvador did, just like Bhutan has done. Bhutan may be the world leader in the future, which would just be amazing in terms of Bitcoin, in terms of the amount of Bitcoin per user user citizen in their country. Anyways, good job, Poland. And the rest of y'all just go ahead and line up because it looks like this is gonna happen. Okay? And we all know if it happens, you're gonna see China, Russia, probably some EU countries. I don't know who else, but these countries are going to come online because they're jealous, because they're worried, because they're trying to get ahead and maybe they should be.
So alright. Software updates, sir.
[01:00:43] Kenshin:
Yes. We have Primal 2.0.
[01:00:46] McIntosh:
Okay.
[01:00:47] Kenshin:
It comes with a few updates, major version, of course. Mhmm. And what caught my eye was a new tab called, reads. Reads,
[01:01:02] McIntosh:
like, you read an article. Is it an RSS feed type thing?
[01:01:08] Kenshin:
No. I believe it's just a collection of long form Oh, okay. In that case. So for nostril.
[01:01:17] McIntosh:
Right? Like long form nostril? Mhmm.
[01:01:21] Kenshin:
Yeah. Long form. So they look like, articles or blog posts, let's say. Right. So they're better formatted, and they literally look like articles. So it looks quite good. And they have a Nosta reads, Bitcoin reads, philosophy reads. So those are their fill their main filters. And then you get the equivalent articles.
[01:01:46] McIntosh:
So, essentially, I've used this app before. It's called Abla. It's a simply integrate It's sorry. It is essentially integrating something like Abla into this app. Right? As part of that tab, this reads tab. Right? Because it handles this long form content that's in Nostra. So that that's cool.
[01:02:10] Kenshin:
Yeah. It looks good. Okay.
[01:02:12] McIntosh:
And then the last one that we got, there wasn't a whole lot going on in terms of software updates, this week. But the last one is one called Liana version 8 point o, which you may not have heard of. It is a Bitcoin wallet. I am not super familiar with it. I have heard about it. I remember them talking about this and I'm not recommending, to be honest, that you use this. You need to do your own research. Maybe they have been around with version 8. You would think they've been around for a while. But regardless, what they're doing is they're integrating something called MiniScript, which is basically a programming language, to work in Bitcoin.
And they're using that to so that you can create, like, let's say I can't think of anything offhand, but you can you can essentially make sure that your Bitcoin does not move from an address for a fixed period of time. Maybe it's 6 months, maybe it's 6 years, maybe it's 60 years, you know, for your children or something like that or your grandchildren. It this wallet makes that possible. So it does have a different angle to it. And if we do not get covenants, which would also enable this kind of thing from what I'm understanding, this may be something you wanna check out, for the long term, you know, storage of your Bitcoin.
[01:03:45] Kenshin:
It would be interesting to look a 1,000 sats, $1 of today's Right. Money for, yeah, as you say, 50 years or something and see what happens.
[01:03:57] McIntosh:
Well, they may be down into what are they gonna call it when they divide up satoshi's microsats?
[01:04:03] Kenshin:
Would that is that too obvious? There is already a term. Yes. Okay. I think it's micro or picosats.
[01:04:09] McIntosh:
Picosats. But, yeah, it it is literally all that code is there. It's not a big deal. So I don't well, gosh, I hope we get there soon. Kenshin, I'll say that. I don't think we are. But yeah. Until it's dollar pair dollar, cent parity, which would be what? A $1,000,000 Bitcoin, If I'm not mistaken, then there's no reason to even consider that. Anyways, alright. Kenshin, I have kept you. I know it's getting late over there. Oh, we've got one last thing we need to talk about, which I man, I audience, can I just tell y'all something? We literally sit here and look at notes, and I'm so ADD, I can't even I I've got notes written down that I just completely ignore. I know y'all are shocked by that.
Right? But we do need to discuss Kenshin before we jump off our move to Fridays. So we've been Kenshin, he's over in Sweden. It's later for him than me. We've been trying to figure out a good time to record, and I think we're gonna start recording on Wednesdays, Wednesday afternoons. And then the episode will post on Fridays. I'll probably shoot for, like, Friday mornings US time, which would mean, like, Kenshin would get it in the middle mid to late afternoon. Yeah. Right? So for Europe, you guys would have it there before the weekend starts a little bit. And I I think that's gonna maybe fit both of our schedules a little better.
And I liked we've been bouncing around when we've been recording, and it's just not there may be times when that doesn't work for us, but I think, in general, this will work a lot better for us. So that is what we're gonna do moving forward. So this episode, this will come out on Sunday just like we used to all the time, and then the next episode will come out on next Friday. So the day after Thanksgiving when I didn't even think about that. But you know what? We're we're still gonna do it. I don't eat that much turkey. I'm not a
[01:06:27] Kenshin:
anyways. Alright. Let's let's Can people can people listen to podcast after thanks Thanksgiving?
[01:06:33] McIntosh:
Well, see, Friday is when you're when when obviously, you know, the Europeans know this. We're all out shopping. Right? Black Friday. It's I haven't been Black Friday shopping in years, but regardless, you got time while you're out shopping. Right? Wow. We're lined up at Walmart getting that good deal on that TV. Anyways, aye aye aye. Alright. There we go. Wrap up. Let's I don't even know what to say at this point, Christian. Hey, guys. I as we do wrap up, I do wanna say one thing. We've already talked about the podcast apps. We've already talked about supporting us. I have made a change.
I've got all of our connection information on the web page that we make an individual episode page. Okay? So like if you go to satoshisdashplebs.com /episodash185, you will get to this episode. On that page down at the bottom is all of our contact info. Twitter, email, I don't know. I've got Mastodon on there. I think you've got something else as well. And you can reach us that way rather than us repeating out this list and you probably not actually hearing it when you need it. So hope that helps.
[01:08:03] Kenshin:
Yes. And don't forget the question of the day. Do not If you have any good tips about the
[01:08:10] McIntosh:
I just wanna help friends and family. Kenshin. I I know they've got some good stories. So let's hear it, guys. Yeah. Hey. Thanks. Hear them too. Thanks for being here. I hope this has been helpful, and we sure would love to hear from you. I'm I just got done saying I wasn't gonna do this, and I'm doing it because it's written right here in the notes. Thanks for thanks for being, this I can't I could not imagine what you say to your wife. That guy is a nut. Thanks for being here. I hope this has been helpful. You guys have a great week.
Stay humble, Stack Sats. Don't eat too much turkey here in the United States, and we'll see you soon. Oh, wait. That's Lord, I'm that's it. I'm done. Bye. Talk to you later. Have a nice weekend.
[01:09:00] Kenshin:
Goodbye.
What is up, Pleb Nation? Today is November 24th, and this is episode 185 of Satoshi's Plebs. I'm Macintosh.
[00:00:09] Kenshin:
And I am Kenshin. And today's episode is the friends and family plan.
[00:00:44] McIntosh:
Kenshin, it's been a great week. I'm looking forward to our discussion. We're gonna be talking about the price because the price is the price, and we gotta talk about it. But, right now as we record, I am sitting at 99,531 US dollars. How about what do we have that in US or EU? In euros. In euros. I knew what they're called. Anyway Right.
[00:01:13] Kenshin:
It's, we're at an all time high right now. It's 95,500 and change.
[00:01:19] McIntosh:
So we have not broken a 100,000 yet. Although, honestly, even though this recording won't come out for a couple of days, we could literally do that while we're recording. And I will try not to get too excited. It was funny because I was talking to my wife 2 nights ago, and I said, you know, I I actually I'm not that excited about it. I mean, I am. It's a number. It's a really nice number. It creates, like, it's what what is it? A 100 sats to a cent. I think if that lines up, I'd have to look that up too. But, you know, it creates some some nice things there, but it's just a number.
And I don't think this is where Bitcoin is going to end up. I certainly don't think this is the top of this cycle. I think we're gonna go significantly higher, and I'm being very careful not to say what I think because frankly, it might blow some of your minds, and that's okay. I stand by this thesis that I have had for months for actually probably well over a year at this point that the cycle top, it will not be until December, November, December of next year. So basically, 1 year from now. And if you think what we've got going on right now is crazy, you wait until then because a couple of things.
Even though we are are starting to see corporate adoption, even though we are we are seeing nation states talk about Bitcoin as we're gonna talk about later, even even though all these things are happening, it's first of all, very early in those. And second of all, retail hasn't even FOMO ed in yet. I mean, we're months away from an all time high. So keep that in mind. What where are we gonna go from here? Well, I believe we are gonna touch a 100,000 minimum. I mean, I don't see it making a significant drop before we reach these last couple of $100. I would be shocked if that doesn't happen.
I think most likely it's gonna go ahead and chew on through that. And then we may go a little bit higher. Maybe 108, 116 is actually a really nice number because if y'all remember a few months back, we sat at 58 k. It hasn't maybe hasn't even been that long. But 2, 3 months back, probably, we sat at 58 k for a long time. And you know what double 58 k is? It's a 116. And Kenshin, I don't know if you believe this, but things like that actually statistically do work out. It's not like it's every time, but people are funny and things like that do matter.
So I'm thinking we go sorry. Let me finish this real quick and sorry. I'm thinking somewhere in that 115 to 120 range, and then I we'll probably go back and test a 100 And and and then we see what happens. We have not had a real pullback in quite a while. That's no guarantee. And, of course, as we always say here at satoshisblev, you should be dollar cost averaging. Don't this isn't I'm not giving you trading advice. I'm just telling you what I think may happen. And that's not a ploy to kinda get out of any legal issues. That's the truth. This is not trading advice. I don't want you trading on this. I am not trading on this. I'm just telling you what I think might happen. Sorry, Kenshin. I cut I cut you off.
[00:05:07] Kenshin:
Yep. And to go to your first point that you said that you're not so excited with a 100 k, I think I'm the same actually. It feels like it's a human psychology right now, playing with a number, round number, a 100 k. Everybody is so hesitant about this limit, let's call it. And the moment it goes through it, then, yeah, then sky's the limit, I guess. So so I'm more excited to see what happens after the 100 k. Right.
[00:05:38] McIntosh:
Right. And it's always about adoption. Right? So one of the things that I repeatedly drive home here, my my goal, one of my major goals for Bitcoin is simply that it's a global reserve currency. Because using the US dollar gives an unfair advantage to the United States, first of all, which it does. And as an American, I benefit from that. But it's also creates fiat chaos. Okay? We have inflation. We have all of these things going on because of the US dollar here in our own country. I'm sorry. You're on your own wherever you are. You have to deal with that. But all these countries are the same. Their money isn't backed by anything solid and they print it. I mean, that's basically how you get debt.
And well, I that's what I'm going for. When we have global reserve currency for Bitcoin, the number will not be a 100 k. I promise you. And I'm just gonna go ahead and tell you this. And and you can just turn this podcast off if you think I'm crazy, but come back in 10 or 15 or years, maybe less, maybe significantly less. It'll be at least $1,000,000 or more because there's the numbers, the math, and that's something we've maybe never really walked through here. But the math works out. 21,000,000 Bitcoin. We're not printing anymore. Very few are left to actually mine.
I think the last number I saw, it was around 95% or so are already mined. So it's not like you're gonna get a dump on the market of a bunch of Bitcoin. Usage is going up. This is it's just a matter of time. So, anyways, I will step down off of the soapbox and we'll move on.
[00:07:38] Kenshin:
So let's talk about the block hat then. Okay.
[00:07:42] McIntosh:
Right now, looking at mempool, we are at 871-529. So funny thing, I was making my notes last night for this, so hours and hours ago, and I actually put 871-525. I only missed it by 3 blocks. Not too shabby. And then I updated it thinking we'd get there and put 28 and instead it's 29. So there. That's fixed. Sorry. The difficulty adjustment. And let me speak to this real quickly. As a minor, frankly, this is directly hurting me. I might own ocean these days. I switched from brains, which is something that I've actually not talked about on here. And at some point, we need to. But I switched from brains a while ago.
And so I track, of course, when blocks get mined. We've actually overall had a really good month, but I can tell you that a whole bunch of hash rate went online just a few days ago, since about November 10th because the blocks dried up. So we've only, mined 3 blocks since, like, November 11th. A lot of hash rate going online and we see that in the difficulty adjustment. Right now the blocks are getting mined 9.3 minutes. So the target is always 10 minutes. Right? It's very very fast. So right now we're looking at a difficulty adjustment. It actually just went down a little bit. 7.97% up on December 1st. When I was looking at it last night, it was actually over 10%.
Crazy. So last, the last one, which was very recent, it hasn't been that long, was only 0.63% up. Alright.
[00:09:39] Kenshin:
And our fees are quite high, I would say. Somebody's
[00:09:43] McIntosh:
printing something is all I know. I don't there there must be some some room or something going on. But, yes, we're 23 sats per vbyte, just for the low priority. High priority well, medium is 27 and high is 29. So you're looking at about still, I mean, that sounds terrible, and and it's more than I like to pay certainly, but $3.19 up to 4 dollars for a transaction for a typical transaction. So that's it. And, and one last thing I wanted to mention, the mempool itself, the number of transactions, has actually gone up quite a bit. We're at 720 my excuse me.
729 megabytes up from the mid 5 fifties last week, and the unprocessed transactions right now are almost 30,000 or 300,000. 2,98,140 transactions. So getting stacked up in there. Yeah. It's getting busy. That's what I see. And it's reflecting to the price, I guess. So. Hey, Kenshin. I just wanted to take a few minutes before we get started, and and I know something that you did this week. So why don't you let the listeners in on on on what's going on in your Bitcoin world?
[00:11:05] Kenshin:
Right. So this week, I actually received finally, 2 small Bitcoin miners. They are from, Kanan. They're called Avalon Nano
[00:11:18] McIntosh:
3. Okay.
[00:11:20] Kenshin:
And they look like very small, heaters, appliances. So they just use a 100 watts of energy. Okay. And they generate heat.
[00:11:38] McIntosh:
And at the same time, you mine some Bitcoin. So you're actually using these as a heater? Like, you got them, like, kinda like a floor heater or whatever. You've got them around your house, and they're providing heat. Yeah. They are not that big,
[00:11:52] Kenshin:
but yes. Right. I put them around the house, one in the living room, for example, and just to warm up a bit. We we have a cold winter here in Sweden. So I've heard that. I would use something. Yeah. It's not a surprise. So I would use that energy anyway to heat up the house somehow.
[00:12:13] McIntosh:
So So the next step is to buy an s 21 and put it in your basement and pipe the heat up to the rest of the house, and then you don't ever have to turn your heater on.
[00:12:23] Kenshin:
I am actually considering it because the floors are quite cold Mhmm. And I have space under the under the house. And, I'm actually considering this. No. I I believe it. Because I I would I have a 2,000 watt heater that I turn on sometimes under the house to warm up the the space. So why not do it with a proper Bitcoin? If I'm
[00:12:49] McIntosh:
remembering correctly, an s 21 is either 15 or 1800, and I'm sure it would depend on the actual model. There's different models of it as well. And there are this is an area I'm not familiar with, so I'm a little out on a limb here as we say. But, basically, there's some settings. There's some equipment that they built that you can literally take that heat and kinda pipe it into your heating system and then you utilize it in a very effective manner. So if you're in a a cold climate like Kenshin is, it might be something you really wanna look into because it's something that you're gonna have to use anyways. So you might as well benefit from it, from from that, mining. Now I happen to know, at least from what I understood, from what you were telling me, you had plugged in those miners earlier this week. Right?
You've already mined your first, actually, 2 blocks, I think Yes. On Ocean. Now when we say you've mined a block, that doesn't mean that Kenshin got the entire block, unfortunately. Because, your pal Macintosh would be here asking for, I don't know, a loan. But he did get part of that, as so we actually mined on the same pool on ocean like we talked I'd mentioned earlier. And so when both of those blocks were mined, we got to share that. He got a share based on what he put in, and I got to share based on what my miners put in. And that's kind of the way that works.
And as far as I can tell with ocean, it's a very fair system. So very cool. So how does it feel to have a few sats?
[00:14:37] Kenshin:
Yeah. It's very exciting. Of course, I I need to hit the minimum amount to receive the set. So Right. Right. And it's it's it will take some time with those little miners. They they only I think you can set up a lighthouse.
[00:14:52] McIntosh:
Is am I correct? So you can actually get it out. I mean, it's still gonna take you a while, but, like, I don't use lightning for my payout, and I have to wait till I hit a 1%. And it does take a bit, but, they they had the lightning set up so you can take it out at a much smaller level. I may try it. Yeah. Very cool. Very cool. Alright. I unfortunately don't really have a whole lot of news this week. It's just been work and work and work. In terms of well, no. I do have news, actually. Everybody sit down. So this is I'm gonna tell you a little uncle uncle McIntosh gonna tell you a little mining story here. Hang on. While we're talking about mining. I have had a miner.
This is just part of the business, unfortunately. And at some point, I'm gonna speak about this maybe, more extensively. This isn't really a mining show, but you have your miners. They're little computers. They're sitting out there cranking away. Well, sometimes they break. And I could tell we're in a bull market because I had it's actually a fairly new miner. Only had it for a couple of months, and it broke. And it was offline for over 2 months, while it got repaired. So, Macintosh was pretty upset about it, to be honest, because I'm watching the Bitcoin price shoot up. I'm watching all these you know, and I'm still making satoshis off of my other miners. But, I mean, this was just dead in the water.
But the good news is, right before I got out the pitchforks, to storm the, the hosting facility, It did get put back online yesterday. I think I actually put it on last night. It might have been the night before. But, all my miners are online, and they're all mining, and everybody's happy. And I am ready for that next block to be mined by ocean, which I don't know when that's gonna be. It has now been 63 hours since the last block was mined. Oh, no. 33 hours. Boy, I haven't refreshed that screen in a while. 33 hours. So a little bit over a day since the last block was mined. So maybe we'll get one soon. We will see. But, yeah, I was I know that's maybe not exciting to everybody, but it was exciting to me after 2 months. It was, like, 8 and 9 weeks. I don't know.
So we both got our minors up and running this week. I and I actually didn't even think about that until I was about to say nothing happened this week. And then I'm like, oh, yeah. That did happen. Yeah. So, at this point, I've talked about mining. And at this point, if if some of you are actually thinking about it, like, kind of the route that I went where you buy the miners and they're hosted in a facility, at this point in the cycle, you've probably it probably would not be a good idea at this point for you to get involved. The minor, costs themselves are going up.
The host facilities are I know Kaboom racks. They told they said it on Twitter. They're full. If you have a very big order, they might be able to basically open up a new area for you, but all of their little, all the slots in their current area essentially are full. So I'm not sure at this point. If I were you, I'd be out buying new miners, unless you were, like, plugging them in at home. Maybe you had solar power or something like that as a way to defray the cost. But, just my little tip for the week there. Alright.
Very cool. So, Kenshin, this week, we were gonna talk about our friends and family plan. I hope that caught your interest, and we will we will go ahead and dive into that. And why don't you go ahead and get started and tell us what we're talking about?
[00:19:12] Kenshin:
Yeah. So today, we will talk about how to, let's say, talk about Bitcoin with your friends and family, how to help them get started. Maybe some, fun ways to, yeah, to introduce them to Bitcoin.
[00:19:27] McIntosh:
I mean, I cannot imagine that over the holiday season that's coming up that people won't be talking about Bitcoin. So, this might be a very, very useful topic for our listeners out there.
[00:19:46] Kenshin:
Exactly. And I have already had some family members asking me about Bitcoin recently. So it it feels like it's starts getting out there in the news again. Right. And people notice it. So I would say that, if I start with some examples, the easiest way to that I got 2 of my family members to get started with Bitcoin was on their birthdays. I after I had told them about Bitcoin a few times Mhmm. On their birthdays, I said, okay. Now please go ahead and install Bitcoin Wallet app on your phone. Okay. Create a wallet, and then I will just send you some stats.
[00:20:34] McIntosh:
Okay.
[00:20:37] Kenshin:
So, of course, I gave them a recommendation which wallet to install. At the time, it was BlueWallet. And I like BlueWallet because it was easy to set up for them, complete beginners, of course. And BlueWallet also has the function to use dice rolls to improve the, how is it called Randomness. The entropy. Right. Yeah. And the randomness of of the generated seed words and the private key. So they did that. At the same time, of course, I told them how important it was to write down the the seed phrase and, the twelve words Mhmm. And keep them private and in a safe place and have a backup as well somewhere else.
And after they did that, of course, I send them some Bitcoin. And since since then, sometimes I told them, have you seen the how much is it worth now, the Bitcoin you have? Right. Blue wallet. You know? Because they remember how much it was when I gave it to them. So then they go and look. And it's like, oh, that's interesting. It went up. So that's, I would say, the most typical example and way to do it. Of course, one one of my brothers, when I told him to do that, he procrastinated for, 6 months or something. So
[00:22:11] McIntosh:
so it's, I think it's easier if So he didn't get as much Bitcoin.
[00:22:17] Kenshin:
Oh, well, I had planned to give him around numbers, so he got the same Bitcoin from me. Just to keep his father. Well, I want to be fair to to both of them. So so I send the same amount to both. So, but I have a more more fun example. Yeah. I love this. Question a lot.
[00:22:43] McIntosh:
This is awesome.
[00:22:45] Kenshin:
So so then another family member, he had his birthday, and and we decide to to go to his place for his birthday. And we gave him a birthday card. The typical, you know, birthday card, that has the balloons in the front. And then he opens the card, and the only thing written inside is 12 random words. That is awesome. If you can imagine. And she looks at it. And at that point, we barely talked about Bitcoin or yeah. Probably we we talked a bit about it. Right. But nothing special, you know? And then he reads the words and he cannot figure out. And we let him for 1 minute to look at the words and he reads them again and again. Is is that do I need to create a sentence? Is that a hint? Is that a game? What what are they? They didn't make any connection, any sense, those twelve words.
And then in the end, we say, yeah. You know what? That's Bitcoin right there. It's yours. That is us. And then we help him install a wallet and put the words in on his own so he understands how to actually restore them. So then we said, so this is your key. Keep it safe. You can always restore your wallet with this. And if anyone else gets a hold of this card, yeah, it's their their Bitcoin. So keep it safe. That's awesome. So yeah. I like the expression and the, you know, the question, in his face, the question mark, you know, trying to figure out what are those twelve words. So So I think that's that's a nice gift. I have a question,
[00:24:36] McIntosh:
about these 2. Obviously, both of these are you're involving Bitcoin on the main chain on the main network?
[00:24:46] Kenshin:
Correct.
[00:24:47] McIntosh:
Have you, put any thought into, like, giving somebody Bitcoin over lightning over lightning wallet, or Yeah. That kind of thing?
[00:24:59] Kenshin:
Yeah. I have done that with, actually with my wife. I have done that, with my son even. Okay. And my son is very, very young, so he barely understands what money is, but he saw the number change from one second to the next. And I actually actually, my son was a bit disappointed because he only wanted 1, and I sent him, I think, like, 11 Right. 11 Right. And then he complained, no. I wanted 1. I wanted 1. We had to send 10 back and just he he liked the round numbers of 1.
[00:25:39] McIntosh:
Marty, Marty Bent, does a podcast with Matt Odell, and then he does his own individual one. And I don't know which one it was on, but he has talked recently actually about he set up one of his son is pretty young, I think. 4 or 5, 6 years old, something like that. But he's actually set up a lightning wallet for him And for his little chores that he does around the house, he pays him in Stochi's. Right. Which I thought was pretty cool. And you're teaching them early on responsibility, getting paid for your work, protecting your Bitcoin. Right? But that Bitcoin, I mean, no. It's it's not a whole lot. But as he grows older, you know, I I do think there's going to be time, a time when those are actually, you know, it's not gonna be life changing wealth, but it, you know, it'd be a lot better than what it is when he paid him.
[00:26:48] Kenshin:
So I mean, one sat today, one sat in the year 2,139. Right? It's gonna be the reward of a block mined. So the equivalent of 3 Bitcoin today, it's gonna be 1 1300 and something years from now. So
[00:27:09] McIntosh:
Yeah. I I think there's more to that story, but you're right. That's absolutely correct. But that doesn't take into account the transactional fees as well. You know, we do expect the transaction traffic to grow and the fees that are associated with that over time. Well, so that's part of the block reward. Right? You've got the Bitcoin that you've mined, which is what? 3 I can never remember. Is it 3a half or 3a quarter? But whichever one it is.
[00:27:43] Kenshin:
Plus 3 and an 8.
[00:27:45] McIntosh:
Yep. Okay. But so it's that plus the block re the transaction fees, essentially. So when we're at that point where you're mining a single sat, the transaction fees are gonna have to be a lot more higher. There's gonna have to be a lot more of them because I just the amount of energy that will be expended at that point. I don't think one satoshi is gonna be worth 3 and a half Bitcoin. Does that make sense? I I I I just don't. I of current, what is that? 300,000, right, roughly? It one satoshi is not gonna be worth that. Sorry. I I don't wanna get off on that. I already did. But yeah. You know? Anyways I can say one thing to that that
[00:28:37] Kenshin:
from the code already,
[00:28:39] McIntosh:
one SAT can be split further. That is true. You're you're right. So and that will be necessary. Will it be necessary by then? That's a great question. Progyny. I don't know. I won't be a you said 2140. Right? I won't be a wreck. I will not. I promise. I will not. So it's not gonna be my issue. Hey, kids. Y'all deal with that. Grandpa Macintosh will be, taking a well deserved rest by then. Alright. Awesome. Sorry. I I I do think, sending people, you know, lightning payments, might be a a maybe even potentially an easier way to do this. My only concern about lightning is, you know, it's not on the main net, obviously.
If it literally just sat a small amount there for years years years, potentially, you it would be too expensive to move it. So, you know, there's some considerations there. But, hopefully, these gifts that we're giving people like this is going to lead people ultimately down kind of the Bitcoin rabbit hole. Right? And they're gonna learn about it, and they're gonna take responsibility for it. And they're going to use it to grow their wealth and their family's heritage and this kind of thing. So, anyways alright. Number 3.
[00:30:08] Kenshin:
Yes. Another another way was that during a wedding, another, family member got married. And as a wedding present, we gave a Saks card. And the Sats card is from the company CoinKite Okay. In I think they're based in Canada. So I had bought a few of them, and you it's it looks like a credit card, and you load it up with Bitcoin. It has a visible Bitcoin address in the front and a QR code. You load it up with Bitcoin, and you pass it around. So whoever has the SaaS card on the backside, it has, like, a scratch code that you essentially activate the the private key, and then you can move the Bitcoin a few times. I think it's 10 times, something like that. Okay.
So, essentially, it's like having a credit card and you give to someone and whoever has it has full control of that Bitcoin. Like a gift card, maybe. Yeah. It's like a gift card.
[00:31:22] McIntosh:
So that's what we did as a wedding present. Let me throw out one more idea along those lines. Our friends, we get together, like, New Year's and have a party, and we do, like, a a dirty Santa, thing where we kinda everybody brings in these little presents, and they're wrapped up. They're or in, like, a little bag. And we all get numbers, and you go in order, and you pick a gift, and then the next person goes, and the next person can either pick a gift in one of the boxes or or bags, or they can take the gift from the first person and so on. Right? So this might actually because I bet you can put a very, you know, probably 5, 10, $20 on something like that.
This might make a a kind of a fun little gift for that. A lot of my friends are aware of Bitcoin. Well, they're all aware of it. Basically, everybody's aware of Bitcoin at this point. Some of them are semi interested in it. I think it something like that actually would generate some interest, right, as a as a gift for something like that. I mean, there's a obviously there's not as much control. You don't know who's gonna end up with it, but they can take it. And then you can help them out if they need it. Just say, hey, if you know, if you need anything with this, let me know, and I'll that way, the door's open.
[00:32:54] Kenshin:
And Yep. Essentially,
[00:32:57] McIntosh:
the person that gets it is going to be the person that wants it the most, which maybe it's me if it gets back around to me. I'm sorry. I'm going to take that from no. I wouldn't do that. But, yeah, that's I like that idea, though. A wedding present or birthday present. Either way, that's that's a great I do you know what the cost is for like, there has to be some cost to that for the The Sats card, you mean? For the card itself. Yeah.
[00:33:27] Kenshin:
It's it's close to $10. Okay.
[00:33:31] McIntosh:
Okay. So it's not that cheap. But No. It's not. It's not as cheap as I would like it. Is it reuse and it's not reusable.
[00:33:39] Kenshin:
Okay. It's it's reusable. Yes. It has 10 slots, they call them. So you can actually use it 10 times. Well, I'm And you can keep putting Bitcoin as much as you want, but then to move it, you can move it 10 times.
[00:33:55] McIntosh:
Right. Right. But, essentially, just to get the card cost $10. So maybe my friends aren't gonna be getting that for 30 Santa, but we'll see.
[00:34:06] Kenshin:
But if you were planning on a $20 gift, then
[00:34:10] McIntosh:
10 plus 10. They were showing the different cards. I've got the page brought up here. It's satscard.com. And one of them is a chart of the US perch the power of the purchasing power of the US dollar. And it's like going down, of course. Here have some Bitcoin. I love these. These are really neat, covers. Oh, there's one for Sparrow. Yeah. I'll have to look at this. We'll see. Maybe if I get the card back when they're done so I can reuse it.
[00:34:43] Kenshin:
Yeah. Anyways I like an example they have in their website, I think. It's like you put a decent amount of Bitcoin, let's say, and then you go buy a car. Mhmm. Let's say in a in a futuristic scenario and just give the card. You take the card. You don't even need to transfer any Bitcoin anywhere. Just pass it around.
[00:35:05] McIntosh:
Very cool. Alright. What's number 4?
[00:35:11] Kenshin:
Number 4, I would say, is more when they get intrigued, like it has happened a few times now with with my family members. And they see the Bitcoin price or they they get intrigued anyway by the the wallet, how it functions, and the Bitcoin, how it works, and and to get more information and details. And then they come to me, And then it's what do you tell them then? And I think then it's important to try to make them understand on, what is money in general. Make a small introduction, what is fiat money, what is soft money, what is hard money, and why Bitcoin is is important, to counteract the fiat economy that we have.
Why is it hard? Why how does it work with a limited supply, how it works that no one can control it Right. And, essentially, how it creates a free market for literally everybody on Earth. And to to do that, there is a few ways, of course, there are a couple of books, or you just explained by memory. Mhmm. But I have also found this educational material by Anil Patel.
[00:36:31] McIntosh:
Okay.
[00:36:32] Kenshin:
So it's spelled a n I l, and Patel, p a t e l. So he has some really good free material, free slides. Mhmm. They look like infographics and, yeah, essentially, very visual, explaining all those things with and you can have them in the background. But, of course, you need to know what is money, and and you use those as a help to explain the Bitcoin, fundamentals.
[00:37:07] McIntosh:
Okay. What my problem with this, for me personally is I tend to overload people. I gotta be careful. You know, most people just aren't ready for to to to hear everything about like I said about how the US dollars losing its purchasing power. And it's been in a steady free fall since 1913, and it's only accelerated since 1971. Right? And they're like, what? Right? You know? And I get that because, there actually was a time when that was me. So I have personally have to be very careful about that. The material that Anil, has done, it is very professional. I saw it when he first posted, one of his big things, and I I'm not sure which one, but it may be the slide deck that you're talking about. And I'd looked through it, and I was impressed with this. Very, very good stuff. He also has a book coming out soon.
I mean, I can give people a whole list of books. The Bitcoin standard is certainly a great one to start with, Cephaddin, right, in his book? Cephaddin, Amos. Amos. And then, you know, broken money is another good one. And then if you wanna talk about kind of the World Bank and the IMF and all that, Alex Gladstein did a great book called Hidden Repression. I've read it and, man, it was I I knew there was weird stuff going on, but he puts it together. He's a great writer, but he puts it together with a lot of data showing how essentially the IMF and World Bank were set up to keep countries, the poorer countries essentially in debt.
And it's working. It's working very well, by the way. Most people don't wanna hear all that. They're just not ready for it and that's okay. But you can you can bring these resources to them and let them do this at, you know, kind of their own pace, if that makes sense.
[00:39:21] Kenshin:
Yeah. And, of course, they once they get intrigued by the Bitcoin, they usually come on their own. Right. Right. It's like, oh, I I see a bit how this works. I would like to hear more. And then I think it's your turn to to put some information out there in a good way. But as you say, not overwhelm them, of course.
[00:39:45] McIntosh:
Okay. And aside from these things, I briefly wanted to mention this. You know, I try and take opportunities whenever I have a chance just to talk to people. And I'll give you an example. This is not somebody that I know really well. We buy our beef from a place in Montgomery, Alabama, called Trinity Farms. He's a rancher there. He raises his cows on grass. They're not, you know, cattle lot type beef. And we've been doing this actually for, like, 10 years. Not continuously, but I literally bought my first half of a cow from him, like, 10 years ago. And he just came by a few days ago, and we're unloading the beef. And I said, hey.
Have you ever heard of Bitcoin? Actually, what I said was, have you ever thought about accepting because I'm it's almost a given now that people would know what Bitcoin is. At least they have some idea. I think what I said was, have you ever thought about accepting Bitcoin as payment? And, turns out he actually had. So he does not. And he, he as many people would be in his situation, didn't really know what to do. So we talked about it for a few minutes. And basically, in essence, I told him, look, you know, learn about Bitcoin. It it simply takes time. You know, there's a statement where you you need a 100 hours of basically education in order to understand Bitcoin.
And that's true to an extent to a big extent, to have some reasonable level of knowledge. But you can like, he drives around in his truck. That's he delivers the, the beef. That's part of his job. And I said, look. When you're driving down the road, you could be listening to bit a Bitcoin podcast. I mean, he drove quite a ways to get to my place. He's got plenty of time to, you know, to be doing that on the road. So, I put a seed in his in his head, in his mind, whatever you wanna say. That was a really bad analogy. But, anyways, I I I I put the thought there, and I gave him my podcast. I don't know if he's listening or not, but if he is, hey.
I appreciate it. Beef's great. We've already had some, And, you know, we'll see where that goes. But you everybody has people that they're in contact with, even those of us who work remotely. Right? We don't go into a traditional office. There's other people. And one of the big revolutions I think will happen as small businesses start taking, Bitcoin as payment because they need they see it as a necessity with a a melting US dollar. They need the ability to be able to take that Bitcoin and and store it and save it. So anyways, hope that's helpful.
[00:43:05] Kenshin:
Yeah. And I personally also like when someone is accepting Bitcoin as payment. Of course. Mhmm. So can be a, yeah, it can make the difference if I choose one service or another, if one is offering a Bitcoin payment. Right. So considering the topic of today, then we would like to ask the audience a question. Do you have an interesting story on how you orange peel, let's say, a friend or a family member? It would be really interesting to see if if there is any other methods, that we haven't talked about that are maybe fun or unique. So please go ahead and leave a comment on fountain so we can, yeah, start the conversation and have other audience members see.
[00:44:04] McIntosh:
I bet they can come up with 3 or 4 different ways that we haven't even thought of, at least. So would love to hear from you.
[00:44:12] Kenshin:
Yeah. And I would love to try more ways. I always try to to send a family member on a different way every time.
[00:44:21] McIntosh:
So that would be interesting. Sounds like you do. That's very cool. Yeah. Alright, guys. It's time to talk about our supporters, and, we're gonna I've gotta find a sad puppy picture, Kenshin. I told you I wasn't very good at this, and I'm not. I don't like doing this, but I think this week, I'm gonna I'm literally gonna put a a picture on the chapter of a sad puppy because the fact is is that we didn't have any support. Right? And And I don't wanna harp on this too much, but Kenshin and I are both out here at this point now doing the work, looking up stuff, preparing this podcast, you know, and then doing the editing and get it posted and all that. And this is a value for value podcast. I'm just gonna go ahead actually and kind of talk about that.
We do depend on on people to support this podcast. There's a lot of stuff that we really want to do. I have different ideas. Kenshin has been bringing in some great ideas as well, ways that we can improve this show, expand the reach, expand the people that we're reaching, all that kind of stuff. And some of it, just to be honest, just flat comes down to Satoshis. And I did wanna mention, I'm I everybody's kind of in price shock. Like, we've literally gone up. I don't if it wasn't a month, it wasn't very much longer than a month. Literally, like in the last month, we've gone up, like, 45%. It's an insane climb that's going on right now.
But the thing is, a Satoshi a 100 Satoshis is I I need to look this up, Kenshin. Is it a 100 Satoshis that will be a cent when it hits a 100,000?
[00:46:22] Kenshin:
I know that $1 is close to a 1,000 sats now. So that would make one satoshi No. Yeah. It's the other way around. $1 is a 1,000 sets now. Let me see something wrong. So one US cent would be 10 sets.
[00:46:44] McIntosh:
10 yeah. It is. It's 10 sets. Okay. So you can literally send us 10 sets, and that's 1¢. So if you need to lower your if you need to lower your amount, that's fine. I have no problem with that. I get it. Price is going up. Are we gonna have some draw downs and pullbacks and this kind of yes. But in general, the price is going up. Make an adjustment if you need to. I know at this point, a 1000 satoshis may be a lot for some people, and and that's perfectly understandable. But, you know, you can boost, you can stream, and all of those levels are adjustable right in your podcast app. So don't don't feel like if you only send in a few sats, we're going to be dismissive of that. We're not. We appreciate it just as much as when we get a very large donation, a very large boost.
[00:47:42] Kenshin:
So Which one is your favorite podcast, Macintosh?
[00:47:47] McIntosh:
A big one. 2 point o app. Oh, app. So to be honest, that's a great question. It changes. I use Fountain quite a bit, to be honest. And probably for a new user, I would say Fountain is probably the best. I also used Podcast Guru a lot. That those are kind of the 2 that I switched back and forth that I actually I listen I listen to a stupid amount of podcast. I listen to more than I should, to be honest, because I I don't just listen to Bitcoin podcast, by the way, either. Like, I listen to, I don't know, self improvement. I listen to business podcast, you know, different different things. So, anyways, I have some in 1 and some in the other, and then that way I can kinda use both. I like both of them.
I think with podcast apps, people get I was a Pocket Cash user forever until I started using a podcast 2.0 app when I came across that, and they didn't support it. And I understand they're actually integrating some stuff, but you get used to one app and then it becomes, your daily driver or whatever, and you get very comfortable with that. You can try there's probably over a dozen different podcast apps at this point, just literal apps you load on your phone. And there's a website, which I think I have a link here to it. Podcast app Podcasting index.
Well, there's a you can get to it more straightforward. Go to podcast apps, apps.com, and I think that takes you to the same place. But, yeah, it's a list of the different applications. Try out fountain, try out podcast guru, try out some of these others, see what you like. So alright. That's enough sad puppies. I can't I just I'll I can't deal with sad puppies. I don't I don't like them. Sorry. We are gonna move on. News and notes, sir. Oh, I get to do the first one. Yes. I'm so excited. I'm so I I'm sorry. This makes me happy. Hey, Kenshin. Get out the list. I want you to mark this off for me, please.
Number one item on the list, first thing already, Trump's not even inaugurated, and Gary Gensler has come out and said on January 20th, hallelujah, he is resigning. Look. I have a personal thing against him, and that's fine because I just think he's chairman, of the SEC. I think he's done a terrible job. I think he's not been clear. I think he's ruled by, what's the word? By taking people to court. Like, there's no regulation. It's just, I'm gonna take you to court and and try and sue you. I mean, that's literally what they've done in some cases. Instead of saying Bitcoin is a commodity, which they have said, and everything else is not a commodity. It's a security and as, such it has to be ruled in certain ways.
They won't do that. And I don't understand why other than he wants to create chaos. But, again, he is stepping down January 20th because, probably Trump gave him a call and said, buddy, I won't make your life miserable if you don't quit. So, yeah. And then the second item I was Is it Sorry? I'm sorry. But is it the exact same date as Trump getting to it? That is the inauguration day, and that is not a coincidence. I'm telling you. Yep. It is absolutely not a coincidence. So inauguration is the day that he takes office. We're like the only country that does that. Like, the election was in November, right, earlier this month, and the inauguration is not until January 20th.
Argentina, our pals down in the south, at least south of me, they got some really good news. So I wanted to highlight this because this is an example to me of an economy that is actually working. They had a trade surplus in October. Not only did they have a trade surplus, their imports were actually growing as well. So a trade surplus is like when you export more than you import. And that's a good thing for a country. Right? That makes economic sense. Now, obviously, not everyone can do that, but that should be what you're trying to do. The United States, if I'm not mistaken, we import a lot more than we export.
And that's, to me, a a sign, and I think we see that, of a very weak economy. Right? We import so much junk from China. And, because we don't make anything here anymore. So, anyways, their exports, and I've got the notes in the in the I'll have the notes in the show notes, but they're actually having a surplus whereas previously they they were not. And it's not a huge amount, but Argentina, in terms of their economy, they're they're not like a a powerhouse. So it is a good start. They they have a a trade forecast sorry. They have a trade balance surplus forecast for 2024, right now at about $17,000,000,000.
So if they close out the rest of the year, kind of the same way that they've they've been, They'll be up 17,000,000,000. They had a $6,900,000,000 deficit last year. So that was like a 2018 and 7. I don't know what that makes. 26,000,000,000 or something dollar difference in just a year, which for them is a really big thing. So another sign that Malay, is actually doing some things right down there. And by gosh, if you eliminate a bunch of government, bureaucracy and regulation and make things easier to do, things might actually work better. Just saying. Sorry. Stepping down off of that soapbox.
Alright. Kenshin, I think you're getting the next couple.
[00:54:17] Kenshin:
Yep. In the European news, we see that the poll is a presidential candidate. He promises to create a a strategic Bitcoin reserve in Poland. For Poland itself. So similar to to what Trump Right. Had promised. And I like the quote that he he said on, on Twitter, Rex. He said, if I become the president of Poland, our country will become a cryptocurrency haven with very friendly regulations, low taxes, and a supportive approach from banks and regulators. So I don't like the cryptocurrency part, but otherwise, sounds very good. Right.
[00:55:07] McIntosh:
Yeah. Absolutely. And I'm afraid that, it's become pretty apparent that crypto is just gonna come along for this ride. Of course, here at Stochi's Plebs, we never promote crypto. But it is what it is. I mean, these things are they're gonna be there until they're not. And, they will all eventually get washed out. But, yeah, that's that's really cool. And we're gonna why don't you go and do the next one, and then I'll kind of I wanna talk about this for just a minute just in general with some of the things that have been going on over here.
[00:55:43] Kenshin:
Yep. Yeah. The next one is, some news about your country. Mhmm. The US debt surpasses $36,000,000,000,000.
[00:55:54] McIntosh:
Yep. You know you know something, Kenshin. Americans have to be number 1. I don't know if you've noticed that. I see that. But we are number 1 at the debt, baby.
[00:56:07] Kenshin:
No. We have And everything is big over there. Everything is big.
[00:56:12] McIntosh:
You know, there are larger countries than ours. I'm just saying. But, yeah. You ever heard the joke about you probably haven't. I won't tell it. It's it's it's an American joke. Never mind.
[00:56:25] Kenshin:
Sorry.
[00:56:27] McIntosh:
Another time maybe. No. We did. We surpassed $36,000,000,000,000. It it stinks. The the spending is not slowing down, and I think I've said this before. Trump's gonna take office, and I don't think it's going to slow down. I don't think it's gonna stop. Maybe it does slow down a little bit, but I fully expect us to be, you know, probably well past $40,000,000,000,000 by the time he gets out of office. And that's maybe a prediction I I actually think that's a pretty safe prediction,
[00:57:00] Kenshin:
to be honest. I think it will be more. Isn't it 1,000,000,000,000
[00:57:04] McIntosh:
per 100 days right now? Right now it is. Yeah. Yeah. Right. Yeah. So, look, there's been other stuff going on here, and I kinda wanna tie this into what, this Polish candidate, this presidential candidate said. It is looking, in my opinion, very likely that we're gonna get some form of Bitcoin reserve. And I don't I'm not opposed to that. I believe that this is the kind of thing ultimately that nation states are going to do. And the reality is is that when that happens or may or when it's clear that that's going to happen, other countries are going to start doing this because they're going to have to.
And this is the kind of thing I believe that's going to drive the adoption of Bitcoin as a global reserve currency. The BRICS countries have spent the last several years. The BRICS is like Brazil, Russia, India, China, and South of South Africa originally. It's actually expanded a huge amount since then. But they got tired of the whole US trade thing with the American dollar. So they've been over there trying to figure something out, and they can't. At one point, I think they said they were gonna use the Indian rupee. Well, what happens when Pakistan, who is an indie, an enemy of India says, no, we're not gonna use the rupee.
Well, why would we do that? And I'm not sure if Pakistan is in bricks or not. I'm just giving an example. Okay. Just like Russia right now would say, well, we're not gonna use the US dollar because they froze us out of the SWIFT system. Right? That is why we need Bitcoin as this global reserve so that countries stop fighting over this mess and maybe they can actually start having coherent conversations with each other about how to get along. Anyways, what was I saying? Kenshin, you gotta keep me on track. We were talking about the countries. Well, we were talking yeah. They will eventually land on on Bitcoin. They will have to. They won't they were talking about a gold backed note or whatever, which I mean, that does sound good, but it it creates a lot of logistical issue. They've literally got the answer right there in front of their face. It's just a matter of time when they will accept that. I love seeing countries like Poland who let's be honest. Poland is not a major player in the world.
I love seeing them get in before the United States, just like El Salvador did, just like Bhutan has done. Bhutan may be the world leader in the future, which would just be amazing in terms of Bitcoin, in terms of the amount of Bitcoin per user user citizen in their country. Anyways, good job, Poland. And the rest of y'all just go ahead and line up because it looks like this is gonna happen. Okay? And we all know if it happens, you're gonna see China, Russia, probably some EU countries. I don't know who else, but these countries are going to come online because they're jealous, because they're worried, because they're trying to get ahead and maybe they should be.
So alright. Software updates, sir.
[01:00:43] Kenshin:
Yes. We have Primal 2.0.
[01:00:46] McIntosh:
Okay.
[01:00:47] Kenshin:
It comes with a few updates, major version, of course. Mhmm. And what caught my eye was a new tab called, reads. Reads,
[01:01:02] McIntosh:
like, you read an article. Is it an RSS feed type thing?
[01:01:08] Kenshin:
No. I believe it's just a collection of long form Oh, okay. In that case. So for nostril.
[01:01:17] McIntosh:
Right? Like long form nostril? Mhmm.
[01:01:21] Kenshin:
Yeah. Long form. So they look like, articles or blog posts, let's say. Right. So they're better formatted, and they literally look like articles. So it looks quite good. And they have a Nosta reads, Bitcoin reads, philosophy reads. So those are their fill their main filters. And then you get the equivalent articles.
[01:01:46] McIntosh:
So, essentially, I've used this app before. It's called Abla. It's a simply integrate It's sorry. It is essentially integrating something like Abla into this app. Right? As part of that tab, this reads tab. Right? Because it handles this long form content that's in Nostra. So that that's cool.
[01:02:10] Kenshin:
Yeah. It looks good. Okay.
[01:02:12] McIntosh:
And then the last one that we got, there wasn't a whole lot going on in terms of software updates, this week. But the last one is one called Liana version 8 point o, which you may not have heard of. It is a Bitcoin wallet. I am not super familiar with it. I have heard about it. I remember them talking about this and I'm not recommending, to be honest, that you use this. You need to do your own research. Maybe they have been around with version 8. You would think they've been around for a while. But regardless, what they're doing is they're integrating something called MiniScript, which is basically a programming language, to work in Bitcoin.
And they're using that to so that you can create, like, let's say I can't think of anything offhand, but you can you can essentially make sure that your Bitcoin does not move from an address for a fixed period of time. Maybe it's 6 months, maybe it's 6 years, maybe it's 60 years, you know, for your children or something like that or your grandchildren. It this wallet makes that possible. So it does have a different angle to it. And if we do not get covenants, which would also enable this kind of thing from what I'm understanding, this may be something you wanna check out, for the long term, you know, storage of your Bitcoin.
[01:03:45] Kenshin:
It would be interesting to look a 1,000 sats, $1 of today's Right. Money for, yeah, as you say, 50 years or something and see what happens.
[01:03:57] McIntosh:
Well, they may be down into what are they gonna call it when they divide up satoshi's microsats?
[01:04:03] Kenshin:
Would that is that too obvious? There is already a term. Yes. Okay. I think it's micro or picosats.
[01:04:09] McIntosh:
Picosats. But, yeah, it it is literally all that code is there. It's not a big deal. So I don't well, gosh, I hope we get there soon. Kenshin, I'll say that. I don't think we are. But yeah. Until it's dollar pair dollar, cent parity, which would be what? A $1,000,000 Bitcoin, If I'm not mistaken, then there's no reason to even consider that. Anyways, alright. Kenshin, I have kept you. I know it's getting late over there. Oh, we've got one last thing we need to talk about, which I man, I audience, can I just tell y'all something? We literally sit here and look at notes, and I'm so ADD, I can't even I I've got notes written down that I just completely ignore. I know y'all are shocked by that.
Right? But we do need to discuss Kenshin before we jump off our move to Fridays. So we've been Kenshin, he's over in Sweden. It's later for him than me. We've been trying to figure out a good time to record, and I think we're gonna start recording on Wednesdays, Wednesday afternoons. And then the episode will post on Fridays. I'll probably shoot for, like, Friday mornings US time, which would mean, like, Kenshin would get it in the middle mid to late afternoon. Yeah. Right? So for Europe, you guys would have it there before the weekend starts a little bit. And I I think that's gonna maybe fit both of our schedules a little better.
And I liked we've been bouncing around when we've been recording, and it's just not there may be times when that doesn't work for us, but I think, in general, this will work a lot better for us. So that is what we're gonna do moving forward. So this episode, this will come out on Sunday just like we used to all the time, and then the next episode will come out on next Friday. So the day after Thanksgiving when I didn't even think about that. But you know what? We're we're still gonna do it. I don't eat that much turkey. I'm not a
[01:06:27] Kenshin:
anyways. Alright. Let's let's Can people can people listen to podcast after thanks Thanksgiving?
[01:06:33] McIntosh:
Well, see, Friday is when you're when when obviously, you know, the Europeans know this. We're all out shopping. Right? Black Friday. It's I haven't been Black Friday shopping in years, but regardless, you got time while you're out shopping. Right? Wow. We're lined up at Walmart getting that good deal on that TV. Anyways, aye aye aye. Alright. There we go. Wrap up. Let's I don't even know what to say at this point, Christian. Hey, guys. I as we do wrap up, I do wanna say one thing. We've already talked about the podcast apps. We've already talked about supporting us. I have made a change.
I've got all of our connection information on the web page that we make an individual episode page. Okay? So like if you go to satoshisdashplebs.com /episodash185, you will get to this episode. On that page down at the bottom is all of our contact info. Twitter, email, I don't know. I've got Mastodon on there. I think you've got something else as well. And you can reach us that way rather than us repeating out this list and you probably not actually hearing it when you need it. So hope that helps.
[01:08:03] Kenshin:
Yes. And don't forget the question of the day. Do not If you have any good tips about the
[01:08:10] McIntosh:
I just wanna help friends and family. Kenshin. I I know they've got some good stories. So let's hear it, guys. Yeah. Hey. Thanks. Hear them too. Thanks for being here. I hope this has been helpful, and we sure would love to hear from you. I'm I just got done saying I wasn't gonna do this, and I'm doing it because it's written right here in the notes. Thanks for thanks for being, this I can't I could not imagine what you say to your wife. That guy is a nut. Thanks for being here. I hope this has been helpful. You guys have a great week.
Stay humble, Stack Sats. Don't eat too much turkey here in the United States, and we'll see you soon. Oh, wait. That's Lord, I'm that's it. I'm done. Bye. Talk to you later. Have a nice weekend.
[01:09:00] Kenshin:
Goodbye.
