The Bitcoin Brief is a show hosted by Max and Bitcoin QnA. We cover important updates in the world of bitcoin and open source software. It is our imperative to provide some education along the way too, so that the misfits can expand their knowledge base and become more sovereign as a result.
We do this every second week to keep our listeners informed without having to dedicate hours every day to keep on top of developments. We break things down in a simple and fun way and we welcome questions or topic suggestions via Podcasting 2.0 boosts.
SHOW DETAILS
We discuss the recent events in New York, including a multisig workshop and a Bitcoin trivia night, highlighting the successful launch of Foundation's Passport Prime hardware.
We explore the legal troubles of Craig Wright, who has been sentenced to a suspended prison term for contempt of court, and the ongoing legal battle involving Samurai Wallet, which has been postponed to March 2025. The episode also covers the positive news from the Tornado Cash case where a motion to dismiss was initiated by Roman Storm's legal team.
Additionally, we discuss vulnerabilities in the Wabi Sabi protocol and the Lightning Network, urging users to update their software to protect their privacy and funds. The episode concludes with a festive AI-generated song written by Max, celebrating the ungovernable spirit of the podcast's community and wishing everyone a Merry Christmas and a Happy New Year.
IMPORTANT LINKS
SPONSORS
FOUNDATION
https://foundation.xyz/ungovernable
Foundation builds Bitcoin-centric tools that empower you to reclaim your digital sovereignty.
As a sovereign computing company, Foundation is the antithesis of today’s tech conglomerates. Returning to cypherpunk principles, they build open source technology that “can’t be evil”.
Thank you Foundation Devices for sponsoring the show!
Use code: Ungovernable for $10 off of your purchase
CAKE WALLET
https://cakewallet.com
Cake Wallet is an open-source, non-custodial wallet available on Android, iOS, macOS, and Linux.
Features:
- Built-in Exchange: Swap easily between Bitcoin and Monero.
- User-Friendly: Simple interface for all users.
Monero Users:
- Batch Transactions: Send multiple payments at once.
- Faster Syncing: Optimized syncing via specified restore heights
- Proxy Support: Enhance privacy with proxy node options.
Bitcoin Users:
- Coin Control: Manage your transactions effectively.
- Silent Payments: Static bitcoin addresses
- Batch Transactions: Streamline your payment process.
Thank you Cake Wallet for sponsoring the show!
VALUE FOR VALUE
Thanks for listening you Ungovernable Misfits, we appreciate your continued support and hope you enjoy the shows.
You can support this episode using your time, talent or treasure.
TIME:
- create fountain clips for the show
- create a meetup
- help boost the signal on social media
TALENT:
- create ungovernable misfit inspired art, animation or music
- design or implement some software that can make the podcast better
- use whatever talents you have to make a contribution to the show!
TREASURE:
- BOOST IT OR STREAM SATS on the Podcasting 2.0 apps @ https://podcastapps.com
- DONATE via Paynym @ https://paynym.rs/+misfit
- DONATE via Monero @ https://xmrchat.com/ugmf
- BUY SOME CLOTHING @ https://ungovernablemisfits.com/store/
- BUY SOME ART!! @ https://ungovernablemisfits.com/art-gallery/
(00:00:42) 🎄 Merry Christmas 🎄
(00:03:41) THANK YOU FOUNDATION
(00:06:26) THANK YOU CAKE WALLET
(00:09:05) Catch-Up and Jet-Setting Adventures
(00:11:01) Passport Prime Hands-on
(00:22:21) Barnminer Finds His Jerky Mule
(00:34:52) NEWS
(00:34:57) Craig Wright Found In Contempt of Court
(00:37:28) #FREESAMOURAI Case Update
(00:39:56) Roman Storm's Team Calls for Dismissal
(00:41:27) Greenpeace Wasted 10 Million Dollars
(00:42:46) drkgry Exposes Wabisabi Exploit
(00:46:32) LN Again...Miners Can Potentially Steal Channel Funds
(00:49:15) Proton Wallet Has Issues With The Basics
(00:51:18) Czech Republic Exempts Bitcoin
(00:56:43) El Salvador Takes Money From IMF
(01:00:18) Year-End Reflections and Festive Farewell
[00:00:04]
Unknown:
Bitcoin is close to becoming worthless.
[00:00:11] Unknown:
Bitcoin.
[00:00:16] Unknown:
Now what's the Bitcoin?
[00:00:19] Unknown:
Bitcoin's like rat poison.
[00:00:20] Unknown:
Yeah.
[00:00:22] Unknown:
Oh. The greatest scam in history.
[00:00:25] Unknown:
Let's get it.
[00:00:27] Unknown:
Bitcoin will go to fucking 0. Hey.
[00:00:54] Unknown:
Wish to make you proud. Tuning in to our freedom quest. Software updates fresh and new. You keep us going. Yes. It's true. Well, come back to our Uncle and Noble show. With every boost, our bubbles grow. Every question, every note keeps us on the safety boat. But from the hardware to code, feeling free, our joy explodes. Max in June and work through the night, guiding you with festive fight. Boots of lightning in our chat, Bitcoin flowing just like that. Freedom calls, we respond. The Bitcoin brief, we go beyond. Every bit, every bite. Ungervertible listeners don't comply, they bite. We're thankful yes indeed forever download and boost we read.
Back to our Uncle Knuckles show. With every boost, our bubbles grow. Every question, every note keeps us on the safety boat. From the hardware to our code. Feeling free, our joy explodes. Our joy explodes. Maxicune and work through the night. Oh, night, guiding you with festive fight. Fight, boost of lightning in our chat. Every bit, every bite, ungovernable listeners don't comply, they bite. We're thankful, yes, indeed, for a big download and boost we reap.
[00:03:41] Unknown:
Snow has falling, Christmas, Christmas. Get those sets of exchange no more star then. Underneath the trees so bright, digital dreams take flight tonight. Rudolph fleets with blinking lights. Sleigh is filled with freedom, tap tonight. If you've been good and stuck, dear well. Foundation's gifts will serve you well.
[00:04:21] Unknown:
Free. Jingle doesn't it? Spin in a new world where we're all winning.
[00:04:28] Unknown:
Coding sheer imperfect blend foundations, the gift that never
[00:04:37] Unknown:
ends.
[00:04:40] Unknown:
No more worries for your stuff sat secured in a flash. If you've been nice and oh, so sweet, time to get the holiday tree.
[00:04:54] Unknown:
Foundation makes the best by far. 5th coin
[00:05:14] Unknown:
Jingle bells and bits are spinning. A new world where we're all winning. Cold and sheer and perfect blend foundations. A gift that never
[00:05:26] Unknown:
ends. No more worries for your stash. Sat secured in a flash. If you've been nice and, oh, so sweet, time to get that holiday tree. Free. Jingle bells and bits are spinning.
[00:06:03] Unknown:
A new world where we're all winning. Cold and cheering perfect blend foundations, the gift that never ends.
[00:06:27] Unknown:
Under the tree, it gets so bright. Cake wallet holds my keys so tight. Bitcoin and Monero safe and sound. Merry Christmas all around. Sats jingling in the night. Key stored away from sight. 17, they got our back keeping privacy road track. Phones and laptops feeling grand. Android, iOS, and our command. I'll make coats and Linux too. Cake wallet here from me and you. That's jingling in the night. He stole it away from sight. 17, they got our back, keeping privacy right on track. Our back, keeping crowd to see right on track. All custodial, the gifts they bring, security tighter than a virgin's ring.
Peace of mind in every way with cake around, we all say yes. That's
[00:09:05] Unknown:
Good morning, mate. Hello. How are we doing?
[00:09:08] Unknown:
Very good.
[00:09:09] Unknown:
I've missed you, you jet setter. Yeah. My timelines are all, messed up now. We're actually a week behind, aren't we? We should have recorded last Monday. But, yeah. So apologies for, you know, all 3 of our religious fans that were waiting for a show last week, and it didn't, it didn't surface. But it was for good reason. I was, doing my jet setting thing again last week. I was in New York all week, so I flew out on the the morning where we we would usually record. So this is why we're kind of a week behind schedule at the moment. So I was in New York for flew out Monday, came home Friday night, so I've just been catching up with sleep over the weekend. Couple of events, down at Pub Key. I run a multisig workshop teaching people how to use Passport and in conjunction with Spiro to set up a 2 or 3 multisig. That was a lot of fun. Really good turnout and some really kind of, some decent questions as well along the way where people were, you know, clearly quite engaged and were kind of going through that threat modeling in their head as to whether or not they deemed it necessary for their setup. At these types of events, I always, kind of ask a question before I even get into the workshop itself. And, this one was obviously on Multisig, and I, you know, said by a show of hands how many of you guys use Multisig, fully expecting that, you know, this is a a Bitcoin bar. Generally speaking, you get kind of more hardcore people that everyone was gonna put their hands up, and I was gonna be like, oh, fucking brilliant. So I'm just gonna be preaching to the already converted. But it was the polar opposite. There's, like, one person. So I was like, okay. Great. So, hopefully, you guys are are gonna learn something. I thought you were gonna say it was all multisig, and then I was gonna say, I would say that that would be skewed.
[00:10:45] Unknown:
Because if I was in that bar and someone asked me, do you have multisig and raise of hands, I'd probably raise my hand because you don't wanna be seen as a potential target. That's a very good point, actually. Yeah. Yeah. Perhaps they were all just gaslighting me. But they've gone the other way anyway. So Exactly. They're all target me. They robbed me. Yeah. Rob Bifoglio.
[00:11:04] Unknown:
So that went really well. And then on the Thursday, there was, like, a Bitcoin trivia night that was, headed up by Pete Rizzo of Bitcoin Magazine. That was really good fun, and we kind of dovetailed onto the back of that to kind of give, like, a a soft in person launch of Passport Prime within, you know, a couple of in person demos and things like that. So that was a lot of fun to finally kind of show people in real life the early hardware production devices that we've got. Zach and I were there showing those off. And obviously, you know, the biggest news item of the of the week was that on the Monday where I flew out, talk about bad timing, I was actually in the air when we launched it, was that we finally unveiled the covers on Foundation's latest hardware piece, the Passport Prime. So hopefully anybody that's listening to this has already listened to the podcast that Zac and I did with you. But if they haven't, then I would definitely urge you to to go back and listen to that for all of the gory details. I think we did we run for 2 hours?
About that. Yeah. We went through a lot of stuff. We did. So I won't go into the details here. Also, we'll say it was an incredibly successful launch. The amount of inbound traffic well, the website crashed immediately. As soon as we launched it, Zach's Zach's keynote was 15 minutes long. And at the end of that, he had the URL for the website as to where you can go find more details. And literally, a couple of minutes later, the website went down with all the traffic. Wow. So that tells you a lot about how the launch went. Luckily, the website team was able to to revive it pretty quickly. Preorders
[00:12:34] Unknown:
have absolutely been flying off the shelves. We're gonna be sold out if we keep this cadence up in a couple of weeks. We had no idea that it was gonna go this quickly. Did you not? I was kind of on the other way. I was like because obviously, I had little teasers and bits and pieces from both of you guys. And each time, it would be like, oh, yeah. It can do this thing. And I go, that's fucking cool. Mhmm. And then the next person would be like, oh, yeah. You can do this thing. And I'm like, oh, that's really cool as well. And so by the time the launch came, I was like, I already know I want one of these things, and I imagine everyone else will as well. So, yeah, it doesn't surprise me at all. The point of surprise I fail to add a final detail here. The point of surprise is that we've got 2 options right now when you're on the website that how you can kinda get your hands on Passport Prime. The first one is the early access program where you pay upfront now, full price of the device, which is 299.
[00:13:21] Unknown:
To incentivize that, obviously, you're gonna be one of the first to get your hands on that device. It's one of the first 1,000 off the production line, and we're giving away a couple of free gifts with it as well, a case for the device to protect it, a extended 2 year warranty, and also a lifetime subscription to Envoy Plus, which is our subscription service that's coming up with kind of automatic backups and lots more exciting things in the future as well. That's actually quite a big one there because that's Yeah. Definitely.
[00:13:49] Unknown:
$60 a year it would otherwise be. It will be $60 a year. Yep. So, you know, you think about, okay, you only have to use it for a few years and it pays for itself. That's actually quite good.
[00:14:00] Unknown:
We thought that that was gonna be the less desired product because number 1, you have to pay upfront for a device that was still in production. The other option was a $49 down payment to kind of join the queue and be be one of the first people to get your hands on a device after we've cleared all of the early access program customers offer. So when we're kind of in full in stock production mode, so to speak. We thought it was gonna be heavily weighted on that where people are just kind of joining the queue, giving a down payment of $49. It's like 75% the other way. Everybody wants it straight away. That was the point of surprise that most of us in the team didn't see coming. So, yeah, it's been such a a whirlwind kind of, week since launch. Inbound traffic has been off the charge. Orders are absolutely flying out. Obviously, we got some pushback from the the usual suspects.
Did you? Yeah. It was a complete shock to me that not everybody loved every single aspect of the device. But you know what? Right? And and, again, this was a little bit of a shock to me as well, but the usual suspect voices have been just drowned out 10 to 1 by the overwhelming positive feedback that we've had for the device, both in terms of, like, the architecture of Kios, the introduction of third party applications, and partnerships with Cake Wallet is gonna be the first one. Mhmm. The amount of people that love that side of things versus the 3 people that have got a bee in their bonnet about it.
[00:15:21] Unknown:
Yeah. It's it's like it pales into insignificance, essentially. Yeah. I noticed that. And then you had sort of the little groupie types who were desperate for a pat on the back, who were kind of mouthing off without any understanding of what they were talking about. And I went to a few of them on Twitter because I was sick in bed. While you were jet setting, I was fucking dying, and the release had happened. And I was just like, I can't really do a lot else. I'll just argue with fucking retards online. There were certainly a few of them there waiting for their balls to be tickled.
The majority of the interactions that I had were DMs and questions from people who listen to the pod, who were just either saying, yeah. I've ordered 1, or, oh, can you just tell me I wasn't sure about this or I wasn't sure about that? And then we'd go through it, and they'd be like, yeah. Okay. I'm ordering 1. So congrats, mate. Big launch.
[00:16:13] Unknown:
Yeah. No. Appreciate your support. And I I did, notice that you're on a bit of a rampage, so, appreciate you for that one as well. That was, very fun to to watch and to read. But, yeah, it's been the best week of of the company's history by an order of magnitude. So Wow. We couldn't be happy with how things are going. And, yeah, it's just heads down now to finish you know, put all the finishing touches to it to try and meet that deadline. If you have no idea what we're talking about and you haven't listened to the podcast with Zac and I and Max, go and check that out. You'll get all the gory details, and then just head to foundation.xyz/passport dash prime, and you can see it in all its glory there as well. Oh, speaking of podcasts, actually, I did get chance to listen to one on the plane on the way out to New York, and it was the Ashigaru one, which you recorded probably 2, 3 weeks ago, was it, maybe?
[00:17:05] Unknown:
Yeah. It was just when I was starting to get quite ill, and I was like, ah, we've put so much effort into getting this pod. Mhmm. I was just honey and lemon tea trying to get through the through the interview. But I was pretty fucking excited to have that one, to have the exclusive on it. Yeah. That was, well, we'll get into the details of the podcast in a minute, but, like, whatever you're using for this AI voice generation stuff is pretty impressive.
[00:17:30] Unknown:
It's not bad, is it? Yeah. Maybe you'll have to, let me know the details afterwards. I might be able to do myself out of a job eventually. But, yeah. No. Aside from that, it was really interesting to hear from them or or an AI generated voice of them. I'd I I'm guessing it was that because they're a a NIM. But, good to see that they get they're kind of, you know, coming a little bit more public because I think that is a little bit needed sometimes to kind of gain a bit of a bit of trust, I guess, in a new project like this, particularly given the the circumstances and stuff. So I personally found it very interesting. Listen, would urge people to go check that one out. But, what did you think of it? Yeah. Well, first of all, like I say, I was really excited to get the exclusive on there. And then it forced me to actually really start playing around and testing the wallet because I, you know, wanted to know what I'm talking about while I'm speaking to them. So, you know, I'd sort of gone in
[00:18:22] Unknown:
loosely thinking, oh, well, this is just basically samurai wallet rebranded. And sort of I thought, well, I've already got samurai wallet. You know, I don't know that I really need to fuck around with this. But since using it and doing a lot of testing on it, I'm really, really impressed. It is not a carbon copy. A huge amount of work has gone into this. And, yeah, I'm starting to lean on it more and more. So great to hear from the team. It was great to hear that they are very focused on what they're doing. They don't have any sort of social media presence. They aren't shouting about what they're doing. They're just heads down and building, and I think that's for the best. So I thought, you know, they need someone to talk about what they're doing, and Ungovernable Misfits will continue to do that. And as for the process, obviously, we we had to make sure that we keep them anonymous and make sure that there's, there's no links in any way, whether that is voice or tone or anything that could potentially be linked. So what what we actually had to do is record with a voice changer on their side and ours, then we had to get a transcript written from that recording, then I had to feed that into another bit of software and AI to create a voice for them to then speak it. And then I had to edit that and then line that up with my audio as if it was the first time that we were speaking. So it was quite a process to make it sound seamless, and a few people have reached out and said, I never knew that Novak Djokovic was actually behind Ashigaru wallet.
And, I can't confirm or deny
[00:20:05] Unknown:
whether it is him, but a lot of people have picked up on that. That is, very cool. You you've become quite the, AI influencer with all of your image generations and your voiceovers.
[00:20:17] Unknown:
And Mhmm.
[00:20:18] Unknown:
I think we're not far away from a point in time where I'm gonna actually have to come to you for advice. Oh, how the tables have turned. Oh, yes. The shoes on the other foot now. Yes. I'm, I feel like I'm behind. In all fairness, though, I do feel like I have been sleeping on the AI side of things. Like Yeah. I know you've been getting very much more involved in it recently, and I know Zach is a big proponent of using it kind of a like, as a troubleshooting tool on a on a kind of, I guess, like a search engine, so to speak. He raves about it and, you know, this made people within my close circle can't be wrong about it. So I I think I need to delve in a little bit more. Yeah. It is it is amazing, You know? And a lot of people I can't remember what episode it was. We were talking about how much I spend on AI and other software a month. It was like
[00:21:09] Unknown:
and it's like, yeah. It's a lot, but it's also you can just do so much more with it. And when you're pressured by time, it's well worth it. And just just having that, like, crutch to lean on, these extra tools, like the things that I could do with Ashigaru, being able to put out the artwork, all this kind of stuff, it is pretty incredible. Although there are times where, like, the other day I was using Grok and ChatGbt to try and troubleshoot. I was trying to do b2cpay, and I was trying to send to RTL, and I was having a problem. And so I asked chat gbt, and I asked Grok. Not that useful. They gave me a lot of information, but it wasn't quite right. Mhmm. And so I had to bring in Grok 2.0, black coffee, and he answered it, bang, bang, bang. Three questions, and I was, like, sat there for, like, 10 minutes, like, like, typing away. And they were both not that useful. And then I was like, right. GROC 2.0. Literally fire the 3 questions off to coffee, and I just get 3 perfect responses back. Bang, bang, bang. Did it, and it worked. So it's good, but sometimes you can't replace a human being. Especially one like, black coffee. Well, yeah, you could argue maybe he's not a human being. That is very true. That is very true indeed.
[00:22:21] Unknown:
Before we jump into the news, I have a little Christmas present here for you. So just a a little business on air type thing. I need to you to send me an address later to to send this through to you. But, when I turned up to PubKey on Tuesday afternoon, Thomas, one of the the owners, handed me a package that had been left there for me. And, mister Barn Miner Yeah. The absolute legend, has sent us a couple packs of jerky each, and it looks absolutely incredible. I actually haven't opened any yet, because my thinking was that I wanna get you your pack first, and then we'll do a little on air taste test the next time we report. Oh, that would be really nice. Yeah. A little taste test, little advert for him. Thank you, Bartminder.
[00:23:04] Unknown:
I look forward to that. Yeah. So we've got
[00:23:07] Unknown:
a a mild one and a hot one each. So I don't know how your, taste buds are with hot things, but, Depends how hot. Yeah. Me too. Jalfrezi is about as hot as I get in the curry world. Same here. Yeah. Sounds like we're on the same sort of level then. Yeah. You go and have a jalfrezi.
[00:23:23] Unknown:
You're gonna have some troubles in the morning, but after sort of midmorning, you get along with your day. You have your coffee. The experience is slightly different than it would usually be. You run a bit hotter than you might usually, but you're fine. You start going a bit higher up, there are issues, and it's just not for me. The risk reward is not there. Maybe we'll have the milk at the ready next time we record just in case. Well, thank you, Barminer.
[00:23:49] Unknown:
Yes. Thank you very much, mate. I need to find a way to because you wouldn't take any money off me, so I need to find a way to Classic. Send you some stats without you having been able to refuse it. So, Max, if you have any ideas, let me know. Yes. I actually do have some ideas. Oh, I'm so sorry. How to get that fucking little goat. Get him a little Christmas present whether he likes it or not. Yeah. Okay. Shall we hit the boosts first? Let's go for it. Yeah. Oh, oh, I I failed to mention a bit of a short show this week. We're both on a bit of a tight timeline. I'm still playing catch up from last week and Max has some, some adulting to do after this. So we're we're on a bit of a tight timescale. So let's hit the boosts and then we'll hit the news, but there's no software updates this time around. 1st boost from our epic producer Jordan, 50,000 subs. I disagree with you guys on the positive perception of a Xyng UTXO. I think that it's if it is needed, then as Eric Voskull said, Hashim UTXO is the final admission that Bitcoin Core is a failed architecture. The arguments are made for it. This is a quote. The poor people with good internet but no storage space are copes. Good engineering is possible. The sync speed benchmarks of Libitcoin prove that. Well, if there's one person that I'm almost never gonna disagree with from a technical perspective, it's Eric Foscol because he generally is absolutely on the money. And I again, I do find it hard to disagree that saying that Xyme UTXO is the be all and end all is an admission that Bitcoin Core kind of has failed from a sync perspective.
I do think, though, pushing back a little bit, and I don't know what you think about this, Max, but in, let's say, mobile only environments where people are comfortable with that trade off of, yes, I'm absolutely not running a full node, but I don't need to validate the history or it's less important to me to validate the history because I'm gonna start a brand new lightning wallet, and I want it only on my phone. Like, I could see the use case for that in the fact that somebody is okay with that trade off. They're gonna create a new wallet where the chain history is less important to them, and it's on a small mobile phone. Blah blah blah. I could still see the use case for it.
[00:25:52] Unknown:
I'm not sure, to be honest with you. When I see people setting up Bitcoin wallets abroad and, like, people who are new is that they're just running fucking wallets, Satoshi. So with a lot of this stuff, like, I kind of see it as a bit of a nonissue because
[00:26:07] Unknown:
no one's really using Bitcoin. Yeah. I think that's fair in terms of, you know, the rise of of custodians as a quote, unquote scaling solution.
[00:26:15] Unknown:
I'm not saying that's right. Yeah. Oh, no. I I know. I know. Yeah. It's just I I just kind of like, some of these issues, like, when people are talking about scaling, it's like, you know, oh, will everyone have a UTXO and all this scaling? And it's like again, I'm not saying it's not a problem in the future, but at the moment, basically, no one gives a fuck. And anyone who does give a fuck is told by some retard with a mic in their hand, just use wallet of Satoshi. And it's like, great. I'm glad we're getting that message out. Mhmm. Yeah. Tricky one. Okay. Next up, late stage Huddl boosted with 10,000 sats and, super long message. He just said, hey. Oh. Hey, late stage Huddl. I hope you're well. Compliant banana with 10,000 sats.
We, Bitcoin Derby, would like to extend our gratitude to all of you ungovernable misfits, and we would like to invite you to the first meetup of 2025, the Brunswick Inn on January 11th at 3 PM. Find us on Telegram, X, and Nosta. Merry Christmas, and happy New Year. Don't be compliant, bananas. Be ungovernable. Hashtag free samurai.
[00:27:23] Unknown:
When you read that that it was Bitcoin Derby, I was really hoping that that was gonna be some Brit from the Netherlands. Is it Derby? Said yeah. Derby. But then then they said the Brunswick Inn, and that does sound a little bit American, doesn't it? So I think they probably are a yank. Yeah. So it's not Derby, UK then? I'm I'm guessing not the Brunswick Inn. Don't know. Yeah. You never Don't be compliant bananas. I feel like a Brit is more likely to say don't be compliant bananas. I'm just searching for the Brunswick in now to see where it is. It is Brunswick Derby dotco.uk, so, yeah, you did get it wrong.
Well, thanks for your message, Derby. It is Derby. Okay. Brunswick Derby dotco.uk is the website for the pub. Bit of a free shill there for them. But, yeah. So it is from the UK. Very nice. Well, thank you for the invite. Yeah. I might, see if I can head up to Derby for it. Maybe we could we share our beef jerky up there. That would be cool. It's I mean, my beef jerky is not gonna last until January 11th. Once it's open, It's it's it's gone in a single sit in. I can see your message anyway. Oh, Jordan's back again. 10,000 sats. Q and a, I think you need more channels, dude. Always route failing on bigger boosts.
[00:28:31] Unknown:
Oh, yeah. He contacts me about this daily. Every day, Jordan calls me and goes, I'm really worried about q and a. His channels, he doesn't have enough of them. Yeah. There's a couple of things here. Number 1, I've almost always got liquidity because I barely use Lightning.
[00:28:46] Unknown:
So I don't think the channel size is the issue. I do only have one channel. It just sits there dormant and, you know, I I get the odd Zap and I get the odd Podcasting 2.0 stuff, but it's it's never full. The main issue is that I self host it, and I self host it all through BCP server which runs at home on a computer, and it's all reverse proxy through VPSs blah blah blah. And that's the shit that just falls over all the time, and my certificates expire and all that sort of stuff. So generally speaking, it's that's the problem, and I have the same issue with people trying to zap me on lost stuff. So, yeah, it's just a
[00:29:20] Unknown:
once again, a problem with self hosted lightning. Well, I'm just letting you know that he's concerned, and he believes you should have more channels than just one channel. And when I was setting my BTC pay up, he was like, just, Max, don't be like you. Don't have one channel. And so, so what I've done just to defy him for now is I've just actually opened one channel, and I'm gonna wait until after Christmas to let him sit and stew and be annoyed. And then in January, I will open a second channel. Nice. Okay. Well, maybe maybe no promises, Jordan. Maybe I'll open another channel just to make you happy. We could open 1 together. Let's do it.
[00:29:59] Unknown:
Oh. 8 Myth Frontier, 7,777 sets. It said Merry Christmas. Thank you, sir. At
[00:30:07] Unknown:
96d1869d170049457c31e. Sent 6,666. Great podcast. Found you guys through fountain. America. America. America. America. Flags.
[00:30:29] Unknown:
Thank you, mate. Thanks for, tuning in. Fountain doing its thing there. Nice to see. Yeah. We all eat. 5,421 satz. And they said they're about to shit their pants.
[00:30:41] Unknown:
Lie. He already has. Unpronounceable. Oh, fucking hell. I pronounced it wrong so many times, they've changed their names. At at unpronounceable, aka pojammies with 5,000 sats. I recommend everyone to get a BTC clock if only for the fact that NVM n v m. I think he might mean someone else. But NVM yeah. Autocorrect. Yeah. Is acting like a moron. The statement jury posted how he was more or less interrogated by NVM's team on a conference. They recorded him via phone without asking before. Good reason to avoid CoinKite. I also recommend a BTC clock to you, Max.
If you own one, you could have realized your Bit axe went down. BTC clock has integration to show status and hash rate, by the way. I own a BTC clock or BT clock, but someone
[00:31:46] Unknown:
in the household is annoyed and disconnects it from time to time. More education needed, I guess. Okay. I didn't know you could do that. Yeah. It's a recent development, actually. I think Keith Mukai from the seed signer team has had some input to this to add all this functionality. So, yeah, I've also noticed this. Very cool. I think I'm gonna order 1 over Christmas. I think they're back in stock now. Last time I checked, they didn't have any. So hopefully if they're in in stock over the holidays, I'm gonna I'm gonna get myself one ordered up. Okay. Oh, that was the other thing I see I saw as well. They started making them, look like seed signers now as well, where it's like white on one side and orange on the other. Oh, yeah. I saw that. And I I commented on Twitter on the photo to say that you're gonna give a certain someone an aneurysm combining a BTC clock and the seed signer in a single device.
[00:32:34] Unknown:
Yes. Well, it's all good fun. Indeed. I might have to get one of those. Yeah. They look like they are good fun.
[00:32:40] Unknown:
FOMO chronic, 1,001 sats,
[00:32:43] Unknown:
just with a heart emoji. Thank you, sir or madam. Good morning, Bitcoin with 1,000 sats. Thank you for being one of the top shows on good morning bitcoin.com. Thank you. That's very kind. I think we were last time as well, weren't we? We were indeed. Yeah. Yeah. Yeah. Good to know. Ataible801sats.
[00:33:02] Unknown:
Great conversation as always. Thank you. Sats misfit with 500 sats.
[00:33:08] Unknown:
Liftpay sounds good for retailers. Don't know what it is. Likewise. Okay.
[00:33:14] Unknown:
Atpies, a 100 sats. I actually love England and you British. See you next Tuesdays. I love soccer and the hooliganism culture in general. Also love grime music, but I hate your communist leaning government, so do we, and most of your communist population, so do we. So until you see you next Tuesdays, rise up and take back your sovereignty like us badass Americans, I will continue with the England with the England equals poop emojis.
[00:33:39] Unknown:
Fair enough. That's fair enough. I mean, yeah, can't argue with that. No. Fair enough, mate. Pies again. Biz. Cheers, mates. You bloody fucking cunts. America equals number 1. England equals shit.
[00:33:54] Unknown:
Final one. P r n z a n. Weird. 20 oh, no. That was the date. They somehow boosted with 0 sats but said good listening. Okay. Looks like you hacked the system there. So nice. The boost is the message maybe. Perhaps because you because you grabbed these from Fountain, it could've just been like a a repost on Nosta without any sats on it. Yeah. Yeah. That's probably what it is. But anyway, we we appreciate the exposure. Thank you, sir or madam. Yeah. Thank you very much. Okay. So, yeah, before we move on to the news again, I just wanna say a huge thank you to everybody that supported the show this year. This will be the last one of 2024. It will. Can't believe I'm saying that already, but, yeah, we we do really appreciate all of you people getting involved with questions, retweets, re notes, and boosts and stuff like that. It's, it really does help. So just wanna say thank you and,
[00:34:47] Unknown:
a merry Christmas to, you and yours. Yeah. Thank you very much. We do appreciate it. Okay.
[00:34:53] Unknown:
Start kicking off the news section with, some very happy news. Mister Craig Wright, AKA not Satoshi Nakamoto, has been given a suspended 1 year sentence in prison for continuing to sue Bitcoin developers. Craig Wright was sentenced to a 1 year prison by a UK judge for contempt of court. The sentence is suspended for 2 years, meaning he will only serve time if he reoffends during that period, which is the unfortunate part of this news article, unfortunately. But knowing Craig Wright, I think there's a distinct possibility that he might reoffend. So at a UK high court hearing recently, Justice James Edward Miller ruled that Craig Wright violated a previous court order by filing a 1.15 trillion lawsuit against Bitcoin developers and Square in October. This order had prohibited Wright from publicly claiming to be Satoshi Nakamoto, Bitcoin's creator, and from taking legal actions based on that claim. Justice Miller also ordered Craig Wright to drop his latest lawsuit against Square and Bitcoin developers stating that each contempt charge was unquestionably proven.
So, Yeah. Nice to see that he's been taken down by the system that thought was gonna back all of his claims. Couldn't happen to a nicer guy. Yeah. Indeed. He's also been, told to pay back some legal event legal expenses. So COPPA, crypto open patent alliance, is gonna be reimbursed for about £145,000. And Craig Wright missed the UK court hearing on Wednesday to address contempt charges citing £240,000 in lost business. What what where does he actually get his money from? Do we know? Is it his little side chick fella? What's his name? The like little Asian Postpersion.
[00:36:35] Unknown:
Creepy little like he's is he the lawyer? Or you know he's like an accountant or a lawyer. Something like that. Do you mean the snake or something he's called, isn't he? Or something like that. Yeah. I can't think what his name is now. That's where he's still getting all of his money from. Well, I don't know. I mean or it could be like BSVers or something. Like, maybe he has a direct line of credit with some of them. Like, they haven't lost enough. That tap's gonna be running dry pretty soon, surely. I mean, you would think so. There is a point. Oh,
[00:37:01] Unknown:
dear. But, yeah, like you say, couldn't happen to a nicer guy. And, I did I read somewhere that he's also not necessarily in hiding? Because, clearly we wouldn't know about it if he was. But isn't he in Thailand now or something? Something like that. I don't know. He seems being in Thailand, doesn't he? He does. Just like a, old man. Yeah. Yeah. Yeah. Yeah. Yeah. I think that's his place.
[00:37:25] Unknown:
Good luck to him. What up, mate? Yeah. Indeed.
[00:37:28] Unknown:
Okay. On to more serious news. The samurai wallet pre trial hearing that was due to be on December 17th has been postponed all the way until March 12, 2025, delaying it by a further 90 days. So I'm not sure on the reasoning behind this, but I think aside from the the human aspect of this where obviously the 2 individuals in question have gotta sit for another 90 days with Yeah. Some kind of, uncertainty. But I did hear a podcast recently with one of the lawyers, and he was saying that they have so much discovery to get through that this could actually be a Positive. A positive because it gives them more time to go through all of the details. There's something something really stupid quoted like the amount of, information that they were given to go through is like more the The moon and back certain amount of Oh, here we go. It's here. Yeah. Samurai Watts Defense compared the discovery to 75% of the entire Library of Congress. Fucking hell. And printed out papers reaching the moon and back 22 times over. What the fuck? Well, that is that is just a way to
[00:38:34] Unknown:
tax their time then. It's like Yeah. Yeah. We're just gonna keep you so busy to try and read through this information that you're not gonna be able to do your jobs. That is an obvious attack. Like, what is the need for that amount of information to throw that kind of bullshit at them? But like you say, like, at least it gives them more time. But I'm just thinking about T Dev and Samurai just, like you say, having to sit. You know, when I've been in situations where you're waiting for something that could potentially be bad Mhmm. Actually, the worst part of it is the waiting. Yeah. It can seriously mess up your health and and mindset and everything else, and,
[00:39:13] Unknown:
I just hope that they have family around and people who can support them and try and take that pressure off. And all of the uncouthful misfits are sending our love their way, and, yeah, stay strong, guys, and you get through it. Yeah. Indeed. Just scrolling down, that amount of discovery is the exact reason it was postponed. So seems like there is a little bit of common sense prevailing here and, you know, giving you guys the best chance to kind of get through that information and and to, to fight all of this. And final piece of information here is that the actual trial date itself has been scheduled for November 3, 2025. So this shows no signs of, coming to an end anytime soon, but, yeah, the next hearing is is in March next year. So as always, we'll we'll keep you up to date when that time come.
Okay. Next up, more legal news. Roman Storm, the cofounder of the mixing service Tornado Cash, the Ethereum based one, has, renewed his appeal or, you know, argument for a dismissal of and to drop all charges after an appeals court recently found sanctions against the platform's Spark contract were completely unlawful. So So I think we might have covered this on the last show where, the I think it was the OFA they were placed on the OFAAC list, and a court ruled that, you know, you can't put these addresses onto the OFAAC list because kind of nobody controls them, and they're not kind of under human control. So it appears that Roman Storm has obviously seen that news and kind of is using it to shore up his, his defense and actually saying, look, you know, whoever was behind that court ruling is able to understand that, yes, Roman Storm might have been part of a team that created that kind of smart contract, but once it was created, they have zero control over it. So he's using that now as the basis, as a legal basis, should I say, to kind of push back against his own prosecution to then kind of, well, I guess, what would the term be? You know, exonerate himself and kind of Mhmm. You know, get the entire case completely dismissed. So, yeah, a little bit more on the positive side. And, you know, obviously, I I wish him well there and hope, that there will be some more continuance of some, common sense from the the US, legal system. Can you hope?
Yeah. Indeed. Okay. More happy news. Do you remember the Greenpeace change the code campaign? Very well. My favorite campaign. Where they set literally set fire to like I don't know how much it was, probably like $10,000,000 to try and make Bitcoin green again. Backed by Greenpeace, I think there was actually some big players behind this. Basically, what they were saying is that they were trying to shore up some support to change Bitcoin's code, and they were advocating for us to move to proof of stake, etcetera, to quote unquote reduce Bitcoin's, you know what's the term I'm looking for? Carbon footprint. There you go. Carbon footprint by x amount of percentage and make Bitcoin, you know, good for the planet. Obviously, we all know if you've been in Bitcoin for for more than 5 minutes, you'd know that that was a complete nonstarter and that moving to a proof of stake system like Ethereum is, you know, a one way ticket to centralization hell. Clearly, it never gained any traction, and they have obviously wanted to cut their losses after setting fire to a few $1,000,000 to try and change this. And would you believe it, Max? Not a single pull request was ever made to actually change the code. Shocking. Yeah. Shock horror. Yeah. Shocking. Who'd have thought that that was gonna go nowhere, hey? Yeah. Well, I mean, at least they've burned a few $1,000,000. That's all you can take from that is good. Yeah. Yeah. True. Okay. Onto the vulnerability section of the news. There's a couple, a couple of, big ones coming up here. So, Wabi Sabi vulnerability allows malicious coordinators to deanonymize coin joins. So a vulnerability in the Wabi Sabi protocol, which for those of you who are, you know, less entrenched in the privacy circles, is the protocol that backs the Wasabi Wallet coin join service. I There's a few others that use it as well that have popped up since their whole kind of shutdown. They include BTPayserver and Ginger Wallet as well. So the vulnerability allows malicious coordinators to deanonymize users' coins and link inputs to outputs, compromising the privacy of the coin joined participants.
Users are urged to update their instances immediately. Couple of quotes here that, given that this attack can be carried out without raising suspicion and lack of a client side check on previously issued events, the vulnerability is highly exploitable by any party running the coordination service. So basically, you could be getting completely screwed paying for a service and gaining absolutely zero privacy where the coordinator is able to essentially just see well, link all of your inputs to all of your outputs. Most coin joined services offer what's called a blinded service, which basically means that even them as the coordinator is not able to link, you know, input a to output d or whatever it is. Whatever the the specifics are around this vulnerability basis means that that is completely not the case with the Wabi Sabi protocol. And, if you're a malicious coordinator, you can deanonymize everybody that takes part and get paid for the privilege.
So, again, this is one of the many reasons why we and many others were urging people to exercise some caution, particularly when considering flocking to somebody's coordinators were free as well, which always was a bit strange to me. Seemed to make sense, you know, sometimes that I think they were doing it on the thought process that if I well, if I don't charge any money for it, then, you know, law enforcement might not come after me. But that also means that some of these coordinators have amassed a serious amount of volume in a very short space of time despite them being the operators being anonymous. And now that we know that they could completely deanonymize anything, it's like, well, you know, who were these actors really? What were their incentives? Did they know about this, you know, ahead of time? Have they just basically deanonymized?
[00:45:03] Unknown:
Well done. You've just managed to put yourself on a list. Exactly. Yeah. That's why, I mean, I did a pod with Urban Hacker going into the nitty gritty details of pros and cons of using that service. And, at the end of that conversation, it was, like you said, tread very, very carefully if at all, and, it is not advised.
[00:45:26] Unknown:
Yeah. Indeed. And and in fairness, there's an old lead developer that goes by NothingMuch on Twitter. That's their handle that has been shouting about vulnerabilities similar to this since he was well, I will either left Wasabi or was removed from Wasabi, basically, around the time that they started to do all of the censorship on the the default coordinator before it got wound down. He's been shouting about this sort of stuff for months now. Unfortunately, you know, it doesn't seem to have kind of, hit home until until now. I'm glad that it's getting the publicity that it deserves. So I've also seen a couple of comments. And again, I have not been able to validate whether it's true or not. But there's also a couple of comments that even if you do update, that there is no guarantees that this is for a client to guarantee that this has actually been fixed yet. So exercise extreme caution if you are using these types of protocols that even though the no bullshit Bitcoin article that you'll, see in the show notes here says user urged to update their instances. I have seen comments from, you know, more technical people than myself that say that this is still not enough. So yeah. We just, tread very carefully if you're a user of those types of services.
Okay. Next vulnerability is on the Lightning Network. And this was a big one. It essentially allowed a compliant or a minor to steal all well, I say 98% of the funds from your Lightning channel. And this affected all of the popular, Lightning node implementation. So Eclair, LDK, LND, and I believe, yeah, Corelightning as well was also affected. So, I'll give you a brief description here. So if a channel is opened by Mallory with a counterparty Bob I didn't come up with that name by the way. I'm reading this from the the disclosure. So if Mallory opened a channel with Bob, Mallory performs the following steps. She moves 99% of the balance in her channel to her side by rebalancing or receiving funds. She updates the off chain Lightning Network commitment transaction to allocate 98% of the balance to on chain transaction fees. She again updates the commitment transaction to restore fees to a minimum acceptable level and then moves 99% of the balance to Bob's side of the channel, and then broadcasts or personally mines the version of the transaction that pays 98% of the balance of the fees. Oh. Yeah. I think the prerequisite here, because that can get very confusing very quickly, is that if you have a direct channel with a a miner or somebody that has a an offline relationship with a miner, it means that you can be malicious and have the miner mine a, you know, an incorrect state of the Lightning channel essentially that allows you to steal most of the of the funds within there. That kinda makes sense. Mhmm. Quite a serious one then. Yeah. Indeed.
So as long as you're up to date with your Lightning node, within the last, I think, month or so, then you're probably already protected about this. Oh, it's it's way longer than that, actually. So Eclair fixed this in this in February. LDK fixed it in May. LND fixed it in July. And as of 12 days ago, it seems that Corelightning, remain vulnerable to the worst case scenario if a certain setting is enabled, which is called ignore fee limits. So if you are just a default user, it sounds as though you're already protected against this. So no no cause for panic here. But, maybe if you're a core lightning user, click the link in the description and then check out that flag setting that, you know, would keep you vulnerable to this and and just check whether or not you've got that enabled. But, otherwise, if you're up to date, you're already covered. But that was a pretty bad one. It looks like it was it was discovered by the right people and not the wrong people that were able to exploit it, which is which is good. But once again, always one of the, trade offs with, you know, using cutting edge lightning software is that, you know, there's always undiscovered bugs. Mhmm. Okay. Final vulnerability.
The Proton Wallet has had a fix on their encryption vulnerability. So the preview version, and that is the important part here, is the preview version. So if you only got access to to the wallet after the, you know, the main release, you are absolutely fine with this. So the preview version, which was launched in the summer of 2024, basically had a low entropy kind of generation. Basically, they're using terrible entropy to generate their wallets because you couldn't, I think, at the time import any seed words or anything like that. Oh, so when you're generating a seed using their wallet, the entropy's
[00:49:53] Unknown:
very bad?
[00:49:54] Unknown:
Yeah. So they they use poor random number generation, essentially.
[00:49:58] Unknown:
Why? How?
[00:50:00] Unknown:
Exactly. Yeah. What? This was a problem, you know, let's say, 10 years ago in Bitcoin where wallets were just using shitty entropy and that was quickly getting exploited. We shouldn't be in this in this, a proton. Yeah. Exactly. Like, they've got a huge team behind them. I'll may maybe the Bitcoin team is very small. I don't know. But they were generating seeds that were just 32 bits of entropy, which is, you know, clearly not enough. That's meant a lot. Yeah. People were I don't think that it was actually exploited. I think they found it themselves in fairness. But basically, they were able to brute force wallets.
Yeah. And, yeah. So not good. But, it's been patched. So as long as you're, again, up to date well, I say Proton. It's like a hosted thing, so they'll be up to date for you. But hold on. Maybe well, if you've got, like, a a a dormant wallet that you use as part of the early access program thing, If you've got any funds in there, get them off quickly and then, you know, start yourself off with a new wallet. Yeah. I was just about to say, like, an update is not gonna fix that. Yeah. Definitely, you you, you take you sweep those.
[00:51:07] Unknown:
Okay. Well, yeah, I I am surprised by that because, you know, they aren't a rinky dink outfit. They are Exactly. They're big players. So surprising, but at least they've got on top of it. Absolutely.
[00:51:18] Unknown:
Bit more positive news. The Czech Republic has eliminated Bitcoin capital gains tax for long term holdings. So The Czech Republic is enacted as a law that exempts Bitcoin holdings held for more than 3 years from capital gains tax. This legislation received unanimous approval from the National Nations Parliament on December 6th and to take effect on January 1, 2025. Wow. Pretty cool. Yeah. So if you hold for 3 years, yeah, then you don't pay any capital gains tax whatsoever. That's pretty cool. That's very cool. Presumably
[00:51:48] Unknown:
that is obviously just for their citizens and people can maybe consider going over on a golden visa of some sort or something like that. If they have KYC Bitcoin and they wanted to sell large amounts, it might suddenly make it worthwhile?
[00:52:03] Unknown:
Yeah. Absolutely. I'm just scanning through the article. It doesn't, say anything specific about kind of, non residents or anything like that, But, I'm sure it will you know, the details will become a little bit clearer in in the weeks months that follow. But, you know, at the very least, even if you are a a resident, like, it's great news.
[00:52:23] Unknown:
Yeah. Yeah. We don't talk about the, like, price and that sort of side very often, but one thing I do often think about is where you do have people, and I think it's most people who are heavy on the KYC side. Oh, yeah. They, at some point, will want to buy some stuff, like, whether it is a house or a car or whatever it is. And so for those sort of people, as the price runs and they get to a point where they're like, you know what? I could sell x percentage of what I hold, and I could really improve my life and my family's life. And, yes, it might double or triple or quadruple or 10 x again. But, you know what, this is enough, and I'm happy. This is something that people should consider is if you're in the UK or many other places, if you wanna actually sell that Bitcoin, you are gonna be bent over a barrel and raped up the asshole for a lot of it. Like and when we're talking about big numbers, do you really wanna be giving that percentage away? It might actually be better at some point in time for people to say, no.
Fuck that. What I'm gonna do so I'm gonna go and get a golden visa. I'm gonna go and move somewhere else. I'm gonna sell over there. I'm gonna pay no taxes. And then that 20 5, 30, 40, whatever crazy number, it's gonna be in the UK over the coming years. Go and spend that on your family or people you care about rather than dropping bombs. Yeah. There's a a quick producer note for for Jordan here. There's a great image within this article that
[00:53:50] Unknown:
shows, like, the the capital gains tax on Bitcoin held for longer than a year, basically, across the whole world. There's a surprising amount of countries that have 0%. Mhmm. So if we can include that, but, like, just to list a few here, Switzerland, Germany, Belgium, Luxembourg, Portugal, Gibraltar, Croatia, Turkey, Malta, Slovenia, Georgia, UAE, Hong Kong, Taiwan, Indonesia, Malaysia, Thailand, Singapore, Seychelles, loads of the the, like, area around the Bahamas.
[00:54:20] Unknown:
There's loads. I'm really shocked by this. Well, a lot of them have no capital gains. Like, Portugal, for example, is no capital gains tax at all. Oh, on anything. Right. It doesn't exist. So, I I imagine a lot of those other places will be similar. And, you know, that's completely fucking logical because it's like you've already been taxed. Your employer, if you're employed, has already been taxed to be able to pay you. Then you get a percentage of that, but you get taxed on top of it. Mhmm. Then you get all your National Insurance and other bullshit and taxes, and then whatever you're left with is then inflated away with the silent weasel tax of inflation. And then anything you buy with that tiny bit that you have left, you pay sales taxes on and VAT on and any other crazy taxes on the things that you might buy. And then whatever's left over that you wanna put into savings or any sort of financial vehicle, if you invest it and you lose all of it, you take all the losses. But if you are right and that thing gains in value, then when you sell it, they take a large percentage of that gain as well. So it is just Scandalous.
It's fucking disgusting. Oh, and then at least when you die, they take 40% so that your kids don't get anything. That I mean, that's the best one. Yeah. It's it's just completely,
[00:55:41] Unknown:
like, leaves me lost for words sometimes. Yeah. On the flip side of of this scale as well, just there there's also some shocking numbers. Like, Japan is 45%, Denmark, 42%, Ireland, 33%, France, 30%. Yeah. There's some wild numbers here. Cuba, I mean, Cuba is probably not a surprise, 35%. Austria, 27 a half percent. Like, yeah, it's That's crazy. That's confidential. Crazy numbers. Crazy. And, you know, imagine you've been sitting on this for, like, 10 years. Like, that's not chump change paying 45% of your increasing value. Jesus Christ.
[00:56:19] Unknown:
Yeah. So if you are one of those people and you have a lot of KYC Bitcoin and you do decide that it's your time to sell, please consider moving somewhere where you're not gonna be taxed. And then you can you can look at what your tax bill would have been for that or the cap gains would have been for that. Go and donate it to free samurai or something that actually makes a difference. Don't give it to these fucking cunts. Yep. Cosign that. Run over.
[00:56:43] Unknown:
Final, news item. El Salvador's back in bed with the IMF. They have agreed to scale back their Bitcoin policies in return for a $1,400,000,000 loan from the IMF. Oh, good. So quite the about turn for mister, god. What's his name? Bouquet. Yeah. Bouquet. I was gonna say, Mille, but that's, he's the Argentinian one, isn't he? So, yeah, they have, they've secured a 1,400,000,000 loan from the IMF. Immediately, everybody on Bitcoin Twitter is running to say, oh, yeah. He's gonna he's gonna lump it all into Bitcoin. Yeah. And, I well, same as you. It was like, yeah. Fucking right. But in the interest of me being honest and humble, it does seem as though they have started to increase the amount of Bitcoin that they're buying versus their current cadence. So he does seem to be increasing his Bitcoin balance more significantly than he ever used to. Not to the tune of 1,400,000,000, I must add. Like, it's a it's a little bit of an increase, but I don't know. Maybe he's testing the awards. But, yeah, they have had to scale back. I think Bitcoin is now no longer well, it depends on who you ask, but, people are saying it is technically still legal tender, although it's voluntary now, which to me doesn't mean legal tender.
Mhmm. And also that I think the you now have yeah. You can only pay your taxes in US dollars. And the government's participation with their crypto e wallet, I don't know who's given it that to, but the Chivo wallet is gonna be one round as well. So they're gonna kind of, I guess, sunset that wallet. So you can technically still use Bitcoin in the country as part of this deal, but it's voluntary. So a merchant can easily tell you to to do one if they don't want Bitcoin, and you can no longer pay your taxes in USD as well In in Bitcoin,
[00:58:33] Unknown:
should I say. I can't say that I'm that surprised. Likewise. And and it goes to show, like, although I've just gone on a rant about actually using the legal system in some way to avoid taxes, at the same time, don't change your whole life just because a law has changed in a certain country because you don't know how long that can change, and it only takes a day and bang. You know, everything is gone. You think of all the people who have decided to up and leave and move their countries and businesses and everything and their families over there, and it only takes a day to be changed. So just be cautious. But but on the other side, I would just say, like, if the IMF want to come to me and give me $1,400,000,000, I will, I will stop my Bitcoin policy for Uncoverable Misfits.
Alright? So just let me put that out there. Just a cheeky 1.4 bill, and, we will I don't know. What will we do? We'll accept fiat on the store or something like that. So just think about it. Yeah. So just to circle back on how much he's purchasing,
[00:59:34] Unknown:
it seems as though he used to do basically 1 Bitcoin every day. Mhmm. Which is kinda nice. I like that kind of, you know, gradual increase. And then on the 19th December, he I say he. The country bought 11 Bitcoin, and then they did another 11 Bitcoin a a couple of days later as well. And that's all been within the last couple of weeks since all this has been announced. So k. Take from that what what you will. We will see. Yeah. Yeah. Indeed. Oh, and there's also been a a carrot dangled again by the IMF of a further 3,500,000,000.
As kind of like, I guess if you continue to play ball, you can have some more of our fake money. Okay. So we shall see indeed. Alright, mate. Yeah. I know we're on a tight rip. That's the end of the news. No software updates today, but, if people are wanting to stay up to speed, just check out the No Build Chip quick feed. They have been the the backbone of the show this year. It's where I get all of the the news articles and software update details for, for everything that we do on, on the Bitcoin Brief. So, thank you to those guys as well. But Yeah. Any any other business, mate? Anything you wanna sign off with? It's been it's been a fun year. It's been an interesting year. It's been an enjoyable year, and it's been a busy year. But, it's good to see from my perspective, you know, listener base of the podcast growing, new shows on the horizon for the ungovernable misfits medi verse, which is I'm very excited about. So, yeah, cheers to you. More of the same in 2025, mate. It's been an absolute pleasure as always.
And, yeah, thanks for having me along on the journey with you. Yeah. Well, cheers to all the ungovernable misfits,
[01:01:16] Unknown:
everyone in the crew. And, yeah, same to you, mate. I appreciate everything that you put into the show and, everything that you've taught me over the years. It's amazing to have you part of the team, and I'm very excited to have a new announcement in 2025. And, oh, I tell you what. Do you wanna hear, a little song that I made yesterday?
[01:01:37] Unknown:
I absolutely do. Yes.
[01:01:39] Unknown:
Leaning on some of my AI skills here, but here we are. We'll sign out with this. We love you all.
[01:01:52] Unknown:
I like it already.
[01:01:55] Unknown:
Snowflakes tears fall because we are still here. Hunger, vulnerable spirits have no fear. The listener streaming does not cease. Podcasting, 2 coin, old masterpiece. Crazy misfits trading peer to peer, you are the parasite's biggest fear. Your value keeps our fire bright. Every download feels just right. We wish you an convertible Christmas with every wild and crazy twist. Thank you, cunts, for your love and cheer, for sticking with us year by year. No bankers telling us to hush. Your support is enough to make a hash slut blush. Through the highs and through the lows, you've made our ungovernable spirit grow.
Value for value, love is true. A podcast family thanks to you. Your dedication fuels our song. Together, we misfits our strong. We wish you an ungovernable Christmas with every wild and crazy twist. Thank you, cunts, for your love and cheer, for sticking with us year by year. We wish you an ungovernable Christmas with every wild and crazy twist. Thank you, cunts, for your love and cheer, for sticking with us year by year, For sticking with us year by year. For sticking with us year by year.
[01:04:12] Unknown:
Thank you, cunts, for sticking with us year by year. Have an amazing Christmas.
[01:04:18] Unknown:
That was beautiful. That was excellent. I I'm very impressed that you got the c bomb to sound so festive. Thank you, Kuntz. Yeah. I like the way you said ungovernable as well. Ungovernable. It's like it was 3 words mashed together.
[01:04:35] Unknown:
Yeah. I kept fucking around with it to try and get it right, but, that was the best I could do with the morning. No. That was great. I I feel like that's gonna be, running around my head for the next couple of weeks. Well, yeah, to you and your fam and, to all the Ungovernable Misfits, have an amazing Christmas and New Year, and we will see you in 2025.
[01:04:58] Unknown:
Cheers, guys.
Bitcoin is close to becoming worthless.
[00:00:11] Unknown:
Bitcoin.
[00:00:16] Unknown:
Now what's the Bitcoin?
[00:00:19] Unknown:
Bitcoin's like rat poison.
[00:00:20] Unknown:
Yeah.
[00:00:22] Unknown:
Oh. The greatest scam in history.
[00:00:25] Unknown:
Let's get it.
[00:00:27] Unknown:
Bitcoin will go to fucking 0. Hey.
[00:00:54] Unknown:
Wish to make you proud. Tuning in to our freedom quest. Software updates fresh and new. You keep us going. Yes. It's true. Well, come back to our Uncle and Noble show. With every boost, our bubbles grow. Every question, every note keeps us on the safety boat. But from the hardware to code, feeling free, our joy explodes. Max in June and work through the night, guiding you with festive fight. Boots of lightning in our chat, Bitcoin flowing just like that. Freedom calls, we respond. The Bitcoin brief, we go beyond. Every bit, every bite. Ungervertible listeners don't comply, they bite. We're thankful yes indeed forever download and boost we read.
Back to our Uncle Knuckles show. With every boost, our bubbles grow. Every question, every note keeps us on the safety boat. From the hardware to our code. Feeling free, our joy explodes. Our joy explodes. Maxicune and work through the night. Oh, night, guiding you with festive fight. Fight, boost of lightning in our chat. Every bit, every bite, ungovernable listeners don't comply, they bite. We're thankful, yes, indeed, for a big download and boost we reap.
[00:03:41] Unknown:
Snow has falling, Christmas, Christmas. Get those sets of exchange no more star then. Underneath the trees so bright, digital dreams take flight tonight. Rudolph fleets with blinking lights. Sleigh is filled with freedom, tap tonight. If you've been good and stuck, dear well. Foundation's gifts will serve you well.
[00:04:21] Unknown:
Free. Jingle doesn't it? Spin in a new world where we're all winning.
[00:04:28] Unknown:
Coding sheer imperfect blend foundations, the gift that never
[00:04:37] Unknown:
ends.
[00:04:40] Unknown:
No more worries for your stuff sat secured in a flash. If you've been nice and oh, so sweet, time to get the holiday tree.
[00:04:54] Unknown:
Foundation makes the best by far. 5th coin
[00:05:14] Unknown:
Jingle bells and bits are spinning. A new world where we're all winning. Cold and sheer and perfect blend foundations. A gift that never
[00:05:26] Unknown:
ends. No more worries for your stash. Sat secured in a flash. If you've been nice and, oh, so sweet, time to get that holiday tree. Free. Jingle bells and bits are spinning.
[00:06:03] Unknown:
A new world where we're all winning. Cold and cheering perfect blend foundations, the gift that never ends.
[00:06:27] Unknown:
Under the tree, it gets so bright. Cake wallet holds my keys so tight. Bitcoin and Monero safe and sound. Merry Christmas all around. Sats jingling in the night. Key stored away from sight. 17, they got our back keeping privacy road track. Phones and laptops feeling grand. Android, iOS, and our command. I'll make coats and Linux too. Cake wallet here from me and you. That's jingling in the night. He stole it away from sight. 17, they got our back, keeping privacy right on track. Our back, keeping crowd to see right on track. All custodial, the gifts they bring, security tighter than a virgin's ring.
Peace of mind in every way with cake around, we all say yes. That's
[00:09:05] Unknown:
Good morning, mate. Hello. How are we doing?
[00:09:08] Unknown:
Very good.
[00:09:09] Unknown:
I've missed you, you jet setter. Yeah. My timelines are all, messed up now. We're actually a week behind, aren't we? We should have recorded last Monday. But, yeah. So apologies for, you know, all 3 of our religious fans that were waiting for a show last week, and it didn't, it didn't surface. But it was for good reason. I was, doing my jet setting thing again last week. I was in New York all week, so I flew out on the the morning where we we would usually record. So this is why we're kind of a week behind schedule at the moment. So I was in New York for flew out Monday, came home Friday night, so I've just been catching up with sleep over the weekend. Couple of events, down at Pub Key. I run a multisig workshop teaching people how to use Passport and in conjunction with Spiro to set up a 2 or 3 multisig. That was a lot of fun. Really good turnout and some really kind of, some decent questions as well along the way where people were, you know, clearly quite engaged and were kind of going through that threat modeling in their head as to whether or not they deemed it necessary for their setup. At these types of events, I always, kind of ask a question before I even get into the workshop itself. And, this one was obviously on Multisig, and I, you know, said by a show of hands how many of you guys use Multisig, fully expecting that, you know, this is a a Bitcoin bar. Generally speaking, you get kind of more hardcore people that everyone was gonna put their hands up, and I was gonna be like, oh, fucking brilliant. So I'm just gonna be preaching to the already converted. But it was the polar opposite. There's, like, one person. So I was like, okay. Great. So, hopefully, you guys are are gonna learn something. I thought you were gonna say it was all multisig, and then I was gonna say, I would say that that would be skewed.
[00:10:45] Unknown:
Because if I was in that bar and someone asked me, do you have multisig and raise of hands, I'd probably raise my hand because you don't wanna be seen as a potential target. That's a very good point, actually. Yeah. Yeah. Perhaps they were all just gaslighting me. But they've gone the other way anyway. So Exactly. They're all target me. They robbed me. Yeah. Rob Bifoglio.
[00:11:04] Unknown:
So that went really well. And then on the Thursday, there was, like, a Bitcoin trivia night that was, headed up by Pete Rizzo of Bitcoin Magazine. That was really good fun, and we kind of dovetailed onto the back of that to kind of give, like, a a soft in person launch of Passport Prime within, you know, a couple of in person demos and things like that. So that was a lot of fun to finally kind of show people in real life the early hardware production devices that we've got. Zach and I were there showing those off. And obviously, you know, the biggest news item of the of the week was that on the Monday where I flew out, talk about bad timing, I was actually in the air when we launched it, was that we finally unveiled the covers on Foundation's latest hardware piece, the Passport Prime. So hopefully anybody that's listening to this has already listened to the podcast that Zac and I did with you. But if they haven't, then I would definitely urge you to to go back and listen to that for all of the gory details. I think we did we run for 2 hours?
About that. Yeah. We went through a lot of stuff. We did. So I won't go into the details here. Also, we'll say it was an incredibly successful launch. The amount of inbound traffic well, the website crashed immediately. As soon as we launched it, Zach's Zach's keynote was 15 minutes long. And at the end of that, he had the URL for the website as to where you can go find more details. And literally, a couple of minutes later, the website went down with all the traffic. Wow. So that tells you a lot about how the launch went. Luckily, the website team was able to to revive it pretty quickly. Preorders
[00:12:34] Unknown:
have absolutely been flying off the shelves. We're gonna be sold out if we keep this cadence up in a couple of weeks. We had no idea that it was gonna go this quickly. Did you not? I was kind of on the other way. I was like because obviously, I had little teasers and bits and pieces from both of you guys. And each time, it would be like, oh, yeah. It can do this thing. And I go, that's fucking cool. Mhmm. And then the next person would be like, oh, yeah. You can do this thing. And I'm like, oh, that's really cool as well. And so by the time the launch came, I was like, I already know I want one of these things, and I imagine everyone else will as well. So, yeah, it doesn't surprise me at all. The point of surprise I fail to add a final detail here. The point of surprise is that we've got 2 options right now when you're on the website that how you can kinda get your hands on Passport Prime. The first one is the early access program where you pay upfront now, full price of the device, which is 299.
[00:13:21] Unknown:
To incentivize that, obviously, you're gonna be one of the first to get your hands on that device. It's one of the first 1,000 off the production line, and we're giving away a couple of free gifts with it as well, a case for the device to protect it, a extended 2 year warranty, and also a lifetime subscription to Envoy Plus, which is our subscription service that's coming up with kind of automatic backups and lots more exciting things in the future as well. That's actually quite a big one there because that's Yeah. Definitely.
[00:13:49] Unknown:
$60 a year it would otherwise be. It will be $60 a year. Yep. So, you know, you think about, okay, you only have to use it for a few years and it pays for itself. That's actually quite good.
[00:14:00] Unknown:
We thought that that was gonna be the less desired product because number 1, you have to pay upfront for a device that was still in production. The other option was a $49 down payment to kind of join the queue and be be one of the first people to get your hands on a device after we've cleared all of the early access program customers offer. So when we're kind of in full in stock production mode, so to speak. We thought it was gonna be heavily weighted on that where people are just kind of joining the queue, giving a down payment of $49. It's like 75% the other way. Everybody wants it straight away. That was the point of surprise that most of us in the team didn't see coming. So, yeah, it's been such a a whirlwind kind of, week since launch. Inbound traffic has been off the charge. Orders are absolutely flying out. Obviously, we got some pushback from the the usual suspects.
Did you? Yeah. It was a complete shock to me that not everybody loved every single aspect of the device. But you know what? Right? And and, again, this was a little bit of a shock to me as well, but the usual suspect voices have been just drowned out 10 to 1 by the overwhelming positive feedback that we've had for the device, both in terms of, like, the architecture of Kios, the introduction of third party applications, and partnerships with Cake Wallet is gonna be the first one. Mhmm. The amount of people that love that side of things versus the 3 people that have got a bee in their bonnet about it.
[00:15:21] Unknown:
Yeah. It's it's like it pales into insignificance, essentially. Yeah. I noticed that. And then you had sort of the little groupie types who were desperate for a pat on the back, who were kind of mouthing off without any understanding of what they were talking about. And I went to a few of them on Twitter because I was sick in bed. While you were jet setting, I was fucking dying, and the release had happened. And I was just like, I can't really do a lot else. I'll just argue with fucking retards online. There were certainly a few of them there waiting for their balls to be tickled.
The majority of the interactions that I had were DMs and questions from people who listen to the pod, who were just either saying, yeah. I've ordered 1, or, oh, can you just tell me I wasn't sure about this or I wasn't sure about that? And then we'd go through it, and they'd be like, yeah. Okay. I'm ordering 1. So congrats, mate. Big launch.
[00:16:13] Unknown:
Yeah. No. Appreciate your support. And I I did, notice that you're on a bit of a rampage, so, appreciate you for that one as well. That was, very fun to to watch and to read. But, yeah, it's been the best week of of the company's history by an order of magnitude. So Wow. We couldn't be happy with how things are going. And, yeah, it's just heads down now to finish you know, put all the finishing touches to it to try and meet that deadline. If you have no idea what we're talking about and you haven't listened to the podcast with Zac and I and Max, go and check that out. You'll get all the gory details, and then just head to foundation.xyz/passport dash prime, and you can see it in all its glory there as well. Oh, speaking of podcasts, actually, I did get chance to listen to one on the plane on the way out to New York, and it was the Ashigaru one, which you recorded probably 2, 3 weeks ago, was it, maybe?
[00:17:05] Unknown:
Yeah. It was just when I was starting to get quite ill, and I was like, ah, we've put so much effort into getting this pod. Mhmm. I was just honey and lemon tea trying to get through the through the interview. But I was pretty fucking excited to have that one, to have the exclusive on it. Yeah. That was, well, we'll get into the details of the podcast in a minute, but, like, whatever you're using for this AI voice generation stuff is pretty impressive.
[00:17:30] Unknown:
It's not bad, is it? Yeah. Maybe you'll have to, let me know the details afterwards. I might be able to do myself out of a job eventually. But, yeah. No. Aside from that, it was really interesting to hear from them or or an AI generated voice of them. I'd I I'm guessing it was that because they're a a NIM. But, good to see that they get they're kind of, you know, coming a little bit more public because I think that is a little bit needed sometimes to kind of gain a bit of a bit of trust, I guess, in a new project like this, particularly given the the circumstances and stuff. So I personally found it very interesting. Listen, would urge people to go check that one out. But, what did you think of it? Yeah. Well, first of all, like I say, I was really excited to get the exclusive on there. And then it forced me to actually really start playing around and testing the wallet because I, you know, wanted to know what I'm talking about while I'm speaking to them. So, you know, I'd sort of gone in
[00:18:22] Unknown:
loosely thinking, oh, well, this is just basically samurai wallet rebranded. And sort of I thought, well, I've already got samurai wallet. You know, I don't know that I really need to fuck around with this. But since using it and doing a lot of testing on it, I'm really, really impressed. It is not a carbon copy. A huge amount of work has gone into this. And, yeah, I'm starting to lean on it more and more. So great to hear from the team. It was great to hear that they are very focused on what they're doing. They don't have any sort of social media presence. They aren't shouting about what they're doing. They're just heads down and building, and I think that's for the best. So I thought, you know, they need someone to talk about what they're doing, and Ungovernable Misfits will continue to do that. And as for the process, obviously, we we had to make sure that we keep them anonymous and make sure that there's, there's no links in any way, whether that is voice or tone or anything that could potentially be linked. So what what we actually had to do is record with a voice changer on their side and ours, then we had to get a transcript written from that recording, then I had to feed that into another bit of software and AI to create a voice for them to then speak it. And then I had to edit that and then line that up with my audio as if it was the first time that we were speaking. So it was quite a process to make it sound seamless, and a few people have reached out and said, I never knew that Novak Djokovic was actually behind Ashigaru wallet.
And, I can't confirm or deny
[00:20:05] Unknown:
whether it is him, but a lot of people have picked up on that. That is, very cool. You you've become quite the, AI influencer with all of your image generations and your voiceovers.
[00:20:17] Unknown:
And Mhmm.
[00:20:18] Unknown:
I think we're not far away from a point in time where I'm gonna actually have to come to you for advice. Oh, how the tables have turned. Oh, yes. The shoes on the other foot now. Yes. I'm, I feel like I'm behind. In all fairness, though, I do feel like I have been sleeping on the AI side of things. Like Yeah. I know you've been getting very much more involved in it recently, and I know Zach is a big proponent of using it kind of a like, as a troubleshooting tool on a on a kind of, I guess, like a search engine, so to speak. He raves about it and, you know, this made people within my close circle can't be wrong about it. So I I think I need to delve in a little bit more. Yeah. It is it is amazing, You know? And a lot of people I can't remember what episode it was. We were talking about how much I spend on AI and other software a month. It was like
[00:21:09] Unknown:
and it's like, yeah. It's a lot, but it's also you can just do so much more with it. And when you're pressured by time, it's well worth it. And just just having that, like, crutch to lean on, these extra tools, like the things that I could do with Ashigaru, being able to put out the artwork, all this kind of stuff, it is pretty incredible. Although there are times where, like, the other day I was using Grok and ChatGbt to try and troubleshoot. I was trying to do b2cpay, and I was trying to send to RTL, and I was having a problem. And so I asked chat gbt, and I asked Grok. Not that useful. They gave me a lot of information, but it wasn't quite right. Mhmm. And so I had to bring in Grok 2.0, black coffee, and he answered it, bang, bang, bang. Three questions, and I was, like, sat there for, like, 10 minutes, like, like, typing away. And they were both not that useful. And then I was like, right. GROC 2.0. Literally fire the 3 questions off to coffee, and I just get 3 perfect responses back. Bang, bang, bang. Did it, and it worked. So it's good, but sometimes you can't replace a human being. Especially one like, black coffee. Well, yeah, you could argue maybe he's not a human being. That is very true. That is very true indeed.
[00:22:21] Unknown:
Before we jump into the news, I have a little Christmas present here for you. So just a a little business on air type thing. I need to you to send me an address later to to send this through to you. But, when I turned up to PubKey on Tuesday afternoon, Thomas, one of the the owners, handed me a package that had been left there for me. And, mister Barn Miner Yeah. The absolute legend, has sent us a couple packs of jerky each, and it looks absolutely incredible. I actually haven't opened any yet, because my thinking was that I wanna get you your pack first, and then we'll do a little on air taste test the next time we report. Oh, that would be really nice. Yeah. A little taste test, little advert for him. Thank you, Bartminder.
[00:23:04] Unknown:
I look forward to that. Yeah. So we've got
[00:23:07] Unknown:
a a mild one and a hot one each. So I don't know how your, taste buds are with hot things, but, Depends how hot. Yeah. Me too. Jalfrezi is about as hot as I get in the curry world. Same here. Yeah. Sounds like we're on the same sort of level then. Yeah. You go and have a jalfrezi.
[00:23:23] Unknown:
You're gonna have some troubles in the morning, but after sort of midmorning, you get along with your day. You have your coffee. The experience is slightly different than it would usually be. You run a bit hotter than you might usually, but you're fine. You start going a bit higher up, there are issues, and it's just not for me. The risk reward is not there. Maybe we'll have the milk at the ready next time we record just in case. Well, thank you, Barminer.
[00:23:49] Unknown:
Yes. Thank you very much, mate. I need to find a way to because you wouldn't take any money off me, so I need to find a way to Classic. Send you some stats without you having been able to refuse it. So, Max, if you have any ideas, let me know. Yes. I actually do have some ideas. Oh, I'm so sorry. How to get that fucking little goat. Get him a little Christmas present whether he likes it or not. Yeah. Okay. Shall we hit the boosts first? Let's go for it. Yeah. Oh, oh, I I failed to mention a bit of a short show this week. We're both on a bit of a tight timeline. I'm still playing catch up from last week and Max has some, some adulting to do after this. So we're we're on a bit of a tight timescale. So let's hit the boosts and then we'll hit the news, but there's no software updates this time around. 1st boost from our epic producer Jordan, 50,000 subs. I disagree with you guys on the positive perception of a Xyng UTXO. I think that it's if it is needed, then as Eric Voskull said, Hashim UTXO is the final admission that Bitcoin Core is a failed architecture. The arguments are made for it. This is a quote. The poor people with good internet but no storage space are copes. Good engineering is possible. The sync speed benchmarks of Libitcoin prove that. Well, if there's one person that I'm almost never gonna disagree with from a technical perspective, it's Eric Foscol because he generally is absolutely on the money. And I again, I do find it hard to disagree that saying that Xyme UTXO is the be all and end all is an admission that Bitcoin Core kind of has failed from a sync perspective.
I do think, though, pushing back a little bit, and I don't know what you think about this, Max, but in, let's say, mobile only environments where people are comfortable with that trade off of, yes, I'm absolutely not running a full node, but I don't need to validate the history or it's less important to me to validate the history because I'm gonna start a brand new lightning wallet, and I want it only on my phone. Like, I could see the use case for that in the fact that somebody is okay with that trade off. They're gonna create a new wallet where the chain history is less important to them, and it's on a small mobile phone. Blah blah blah. I could still see the use case for it.
[00:25:52] Unknown:
I'm not sure, to be honest with you. When I see people setting up Bitcoin wallets abroad and, like, people who are new is that they're just running fucking wallets, Satoshi. So with a lot of this stuff, like, I kind of see it as a bit of a nonissue because
[00:26:07] Unknown:
no one's really using Bitcoin. Yeah. I think that's fair in terms of, you know, the rise of of custodians as a quote, unquote scaling solution.
[00:26:15] Unknown:
I'm not saying that's right. Yeah. Oh, no. I I know. I know. Yeah. It's just I I just kind of like, some of these issues, like, when people are talking about scaling, it's like, you know, oh, will everyone have a UTXO and all this scaling? And it's like again, I'm not saying it's not a problem in the future, but at the moment, basically, no one gives a fuck. And anyone who does give a fuck is told by some retard with a mic in their hand, just use wallet of Satoshi. And it's like, great. I'm glad we're getting that message out. Mhmm. Yeah. Tricky one. Okay. Next up, late stage Huddl boosted with 10,000 sats and, super long message. He just said, hey. Oh. Hey, late stage Huddl. I hope you're well. Compliant banana with 10,000 sats.
We, Bitcoin Derby, would like to extend our gratitude to all of you ungovernable misfits, and we would like to invite you to the first meetup of 2025, the Brunswick Inn on January 11th at 3 PM. Find us on Telegram, X, and Nosta. Merry Christmas, and happy New Year. Don't be compliant, bananas. Be ungovernable. Hashtag free samurai.
[00:27:23] Unknown:
When you read that that it was Bitcoin Derby, I was really hoping that that was gonna be some Brit from the Netherlands. Is it Derby? Said yeah. Derby. But then then they said the Brunswick Inn, and that does sound a little bit American, doesn't it? So I think they probably are a yank. Yeah. So it's not Derby, UK then? I'm I'm guessing not the Brunswick Inn. Don't know. Yeah. You never Don't be compliant bananas. I feel like a Brit is more likely to say don't be compliant bananas. I'm just searching for the Brunswick in now to see where it is. It is Brunswick Derby dotco.uk, so, yeah, you did get it wrong.
Well, thanks for your message, Derby. It is Derby. Okay. Brunswick Derby dotco.uk is the website for the pub. Bit of a free shill there for them. But, yeah. So it is from the UK. Very nice. Well, thank you for the invite. Yeah. I might, see if I can head up to Derby for it. Maybe we could we share our beef jerky up there. That would be cool. It's I mean, my beef jerky is not gonna last until January 11th. Once it's open, It's it's it's gone in a single sit in. I can see your message anyway. Oh, Jordan's back again. 10,000 sats. Q and a, I think you need more channels, dude. Always route failing on bigger boosts.
[00:28:31] Unknown:
Oh, yeah. He contacts me about this daily. Every day, Jordan calls me and goes, I'm really worried about q and a. His channels, he doesn't have enough of them. Yeah. There's a couple of things here. Number 1, I've almost always got liquidity because I barely use Lightning.
[00:28:46] Unknown:
So I don't think the channel size is the issue. I do only have one channel. It just sits there dormant and, you know, I I get the odd Zap and I get the odd Podcasting 2.0 stuff, but it's it's never full. The main issue is that I self host it, and I self host it all through BCP server which runs at home on a computer, and it's all reverse proxy through VPSs blah blah blah. And that's the shit that just falls over all the time, and my certificates expire and all that sort of stuff. So generally speaking, it's that's the problem, and I have the same issue with people trying to zap me on lost stuff. So, yeah, it's just a
[00:29:20] Unknown:
once again, a problem with self hosted lightning. Well, I'm just letting you know that he's concerned, and he believes you should have more channels than just one channel. And when I was setting my BTC pay up, he was like, just, Max, don't be like you. Don't have one channel. And so, so what I've done just to defy him for now is I've just actually opened one channel, and I'm gonna wait until after Christmas to let him sit and stew and be annoyed. And then in January, I will open a second channel. Nice. Okay. Well, maybe maybe no promises, Jordan. Maybe I'll open another channel just to make you happy. We could open 1 together. Let's do it.
[00:29:59] Unknown:
Oh. 8 Myth Frontier, 7,777 sets. It said Merry Christmas. Thank you, sir. At
[00:30:07] Unknown:
96d1869d170049457c31e. Sent 6,666. Great podcast. Found you guys through fountain. America. America. America. America. Flags.
[00:30:29] Unknown:
Thank you, mate. Thanks for, tuning in. Fountain doing its thing there. Nice to see. Yeah. We all eat. 5,421 satz. And they said they're about to shit their pants.
[00:30:41] Unknown:
Lie. He already has. Unpronounceable. Oh, fucking hell. I pronounced it wrong so many times, they've changed their names. At at unpronounceable, aka pojammies with 5,000 sats. I recommend everyone to get a BTC clock if only for the fact that NVM n v m. I think he might mean someone else. But NVM yeah. Autocorrect. Yeah. Is acting like a moron. The statement jury posted how he was more or less interrogated by NVM's team on a conference. They recorded him via phone without asking before. Good reason to avoid CoinKite. I also recommend a BTC clock to you, Max.
If you own one, you could have realized your Bit axe went down. BTC clock has integration to show status and hash rate, by the way. I own a BTC clock or BT clock, but someone
[00:31:46] Unknown:
in the household is annoyed and disconnects it from time to time. More education needed, I guess. Okay. I didn't know you could do that. Yeah. It's a recent development, actually. I think Keith Mukai from the seed signer team has had some input to this to add all this functionality. So, yeah, I've also noticed this. Very cool. I think I'm gonna order 1 over Christmas. I think they're back in stock now. Last time I checked, they didn't have any. So hopefully if they're in in stock over the holidays, I'm gonna I'm gonna get myself one ordered up. Okay. Oh, that was the other thing I see I saw as well. They started making them, look like seed signers now as well, where it's like white on one side and orange on the other. Oh, yeah. I saw that. And I I commented on Twitter on the photo to say that you're gonna give a certain someone an aneurysm combining a BTC clock and the seed signer in a single device.
[00:32:34] Unknown:
Yes. Well, it's all good fun. Indeed. I might have to get one of those. Yeah. They look like they are good fun.
[00:32:40] Unknown:
FOMO chronic, 1,001 sats,
[00:32:43] Unknown:
just with a heart emoji. Thank you, sir or madam. Good morning, Bitcoin with 1,000 sats. Thank you for being one of the top shows on good morning bitcoin.com. Thank you. That's very kind. I think we were last time as well, weren't we? We were indeed. Yeah. Yeah. Yeah. Good to know. Ataible801sats.
[00:33:02] Unknown:
Great conversation as always. Thank you. Sats misfit with 500 sats.
[00:33:08] Unknown:
Liftpay sounds good for retailers. Don't know what it is. Likewise. Okay.
[00:33:14] Unknown:
Atpies, a 100 sats. I actually love England and you British. See you next Tuesdays. I love soccer and the hooliganism culture in general. Also love grime music, but I hate your communist leaning government, so do we, and most of your communist population, so do we. So until you see you next Tuesdays, rise up and take back your sovereignty like us badass Americans, I will continue with the England with the England equals poop emojis.
[00:33:39] Unknown:
Fair enough. That's fair enough. I mean, yeah, can't argue with that. No. Fair enough, mate. Pies again. Biz. Cheers, mates. You bloody fucking cunts. America equals number 1. England equals shit.
[00:33:54] Unknown:
Final one. P r n z a n. Weird. 20 oh, no. That was the date. They somehow boosted with 0 sats but said good listening. Okay. Looks like you hacked the system there. So nice. The boost is the message maybe. Perhaps because you because you grabbed these from Fountain, it could've just been like a a repost on Nosta without any sats on it. Yeah. Yeah. That's probably what it is. But anyway, we we appreciate the exposure. Thank you, sir or madam. Yeah. Thank you very much. Okay. So, yeah, before we move on to the news again, I just wanna say a huge thank you to everybody that supported the show this year. This will be the last one of 2024. It will. Can't believe I'm saying that already, but, yeah, we we do really appreciate all of you people getting involved with questions, retweets, re notes, and boosts and stuff like that. It's, it really does help. So just wanna say thank you and,
[00:34:47] Unknown:
a merry Christmas to, you and yours. Yeah. Thank you very much. We do appreciate it. Okay.
[00:34:53] Unknown:
Start kicking off the news section with, some very happy news. Mister Craig Wright, AKA not Satoshi Nakamoto, has been given a suspended 1 year sentence in prison for continuing to sue Bitcoin developers. Craig Wright was sentenced to a 1 year prison by a UK judge for contempt of court. The sentence is suspended for 2 years, meaning he will only serve time if he reoffends during that period, which is the unfortunate part of this news article, unfortunately. But knowing Craig Wright, I think there's a distinct possibility that he might reoffend. So at a UK high court hearing recently, Justice James Edward Miller ruled that Craig Wright violated a previous court order by filing a 1.15 trillion lawsuit against Bitcoin developers and Square in October. This order had prohibited Wright from publicly claiming to be Satoshi Nakamoto, Bitcoin's creator, and from taking legal actions based on that claim. Justice Miller also ordered Craig Wright to drop his latest lawsuit against Square and Bitcoin developers stating that each contempt charge was unquestionably proven.
So, Yeah. Nice to see that he's been taken down by the system that thought was gonna back all of his claims. Couldn't happen to a nicer guy. Yeah. Indeed. He's also been, told to pay back some legal event legal expenses. So COPPA, crypto open patent alliance, is gonna be reimbursed for about £145,000. And Craig Wright missed the UK court hearing on Wednesday to address contempt charges citing £240,000 in lost business. What what where does he actually get his money from? Do we know? Is it his little side chick fella? What's his name? The like little Asian Postpersion.
[00:36:35] Unknown:
Creepy little like he's is he the lawyer? Or you know he's like an accountant or a lawyer. Something like that. Do you mean the snake or something he's called, isn't he? Or something like that. Yeah. I can't think what his name is now. That's where he's still getting all of his money from. Well, I don't know. I mean or it could be like BSVers or something. Like, maybe he has a direct line of credit with some of them. Like, they haven't lost enough. That tap's gonna be running dry pretty soon, surely. I mean, you would think so. There is a point. Oh,
[00:37:01] Unknown:
dear. But, yeah, like you say, couldn't happen to a nicer guy. And, I did I read somewhere that he's also not necessarily in hiding? Because, clearly we wouldn't know about it if he was. But isn't he in Thailand now or something? Something like that. I don't know. He seems being in Thailand, doesn't he? He does. Just like a, old man. Yeah. Yeah. Yeah. Yeah. Yeah. I think that's his place.
[00:37:25] Unknown:
Good luck to him. What up, mate? Yeah. Indeed.
[00:37:28] Unknown:
Okay. On to more serious news. The samurai wallet pre trial hearing that was due to be on December 17th has been postponed all the way until March 12, 2025, delaying it by a further 90 days. So I'm not sure on the reasoning behind this, but I think aside from the the human aspect of this where obviously the 2 individuals in question have gotta sit for another 90 days with Yeah. Some kind of, uncertainty. But I did hear a podcast recently with one of the lawyers, and he was saying that they have so much discovery to get through that this could actually be a Positive. A positive because it gives them more time to go through all of the details. There's something something really stupid quoted like the amount of, information that they were given to go through is like more the The moon and back certain amount of Oh, here we go. It's here. Yeah. Samurai Watts Defense compared the discovery to 75% of the entire Library of Congress. Fucking hell. And printed out papers reaching the moon and back 22 times over. What the fuck? Well, that is that is just a way to
[00:38:34] Unknown:
tax their time then. It's like Yeah. Yeah. We're just gonna keep you so busy to try and read through this information that you're not gonna be able to do your jobs. That is an obvious attack. Like, what is the need for that amount of information to throw that kind of bullshit at them? But like you say, like, at least it gives them more time. But I'm just thinking about T Dev and Samurai just, like you say, having to sit. You know, when I've been in situations where you're waiting for something that could potentially be bad Mhmm. Actually, the worst part of it is the waiting. Yeah. It can seriously mess up your health and and mindset and everything else, and,
[00:39:13] Unknown:
I just hope that they have family around and people who can support them and try and take that pressure off. And all of the uncouthful misfits are sending our love their way, and, yeah, stay strong, guys, and you get through it. Yeah. Indeed. Just scrolling down, that amount of discovery is the exact reason it was postponed. So seems like there is a little bit of common sense prevailing here and, you know, giving you guys the best chance to kind of get through that information and and to, to fight all of this. And final piece of information here is that the actual trial date itself has been scheduled for November 3, 2025. So this shows no signs of, coming to an end anytime soon, but, yeah, the next hearing is is in March next year. So as always, we'll we'll keep you up to date when that time come.
Okay. Next up, more legal news. Roman Storm, the cofounder of the mixing service Tornado Cash, the Ethereum based one, has, renewed his appeal or, you know, argument for a dismissal of and to drop all charges after an appeals court recently found sanctions against the platform's Spark contract were completely unlawful. So So I think we might have covered this on the last show where, the I think it was the OFA they were placed on the OFAAC list, and a court ruled that, you know, you can't put these addresses onto the OFAAC list because kind of nobody controls them, and they're not kind of under human control. So it appears that Roman Storm has obviously seen that news and kind of is using it to shore up his, his defense and actually saying, look, you know, whoever was behind that court ruling is able to understand that, yes, Roman Storm might have been part of a team that created that kind of smart contract, but once it was created, they have zero control over it. So he's using that now as the basis, as a legal basis, should I say, to kind of push back against his own prosecution to then kind of, well, I guess, what would the term be? You know, exonerate himself and kind of Mhmm. You know, get the entire case completely dismissed. So, yeah, a little bit more on the positive side. And, you know, obviously, I I wish him well there and hope, that there will be some more continuance of some, common sense from the the US, legal system. Can you hope?
Yeah. Indeed. Okay. More happy news. Do you remember the Greenpeace change the code campaign? Very well. My favorite campaign. Where they set literally set fire to like I don't know how much it was, probably like $10,000,000 to try and make Bitcoin green again. Backed by Greenpeace, I think there was actually some big players behind this. Basically, what they were saying is that they were trying to shore up some support to change Bitcoin's code, and they were advocating for us to move to proof of stake, etcetera, to quote unquote reduce Bitcoin's, you know what's the term I'm looking for? Carbon footprint. There you go. Carbon footprint by x amount of percentage and make Bitcoin, you know, good for the planet. Obviously, we all know if you've been in Bitcoin for for more than 5 minutes, you'd know that that was a complete nonstarter and that moving to a proof of stake system like Ethereum is, you know, a one way ticket to centralization hell. Clearly, it never gained any traction, and they have obviously wanted to cut their losses after setting fire to a few $1,000,000 to try and change this. And would you believe it, Max? Not a single pull request was ever made to actually change the code. Shocking. Yeah. Shock horror. Yeah. Shocking. Who'd have thought that that was gonna go nowhere, hey? Yeah. Well, I mean, at least they've burned a few $1,000,000. That's all you can take from that is good. Yeah. Yeah. True. Okay. Onto the vulnerability section of the news. There's a couple, a couple of, big ones coming up here. So, Wabi Sabi vulnerability allows malicious coordinators to deanonymize coin joins. So a vulnerability in the Wabi Sabi protocol, which for those of you who are, you know, less entrenched in the privacy circles, is the protocol that backs the Wasabi Wallet coin join service. I There's a few others that use it as well that have popped up since their whole kind of shutdown. They include BTPayserver and Ginger Wallet as well. So the vulnerability allows malicious coordinators to deanonymize users' coins and link inputs to outputs, compromising the privacy of the coin joined participants.
Users are urged to update their instances immediately. Couple of quotes here that, given that this attack can be carried out without raising suspicion and lack of a client side check on previously issued events, the vulnerability is highly exploitable by any party running the coordination service. So basically, you could be getting completely screwed paying for a service and gaining absolutely zero privacy where the coordinator is able to essentially just see well, link all of your inputs to all of your outputs. Most coin joined services offer what's called a blinded service, which basically means that even them as the coordinator is not able to link, you know, input a to output d or whatever it is. Whatever the the specifics are around this vulnerability basis means that that is completely not the case with the Wabi Sabi protocol. And, if you're a malicious coordinator, you can deanonymize everybody that takes part and get paid for the privilege.
So, again, this is one of the many reasons why we and many others were urging people to exercise some caution, particularly when considering flocking to somebody's coordinators were free as well, which always was a bit strange to me. Seemed to make sense, you know, sometimes that I think they were doing it on the thought process that if I well, if I don't charge any money for it, then, you know, law enforcement might not come after me. But that also means that some of these coordinators have amassed a serious amount of volume in a very short space of time despite them being the operators being anonymous. And now that we know that they could completely deanonymize anything, it's like, well, you know, who were these actors really? What were their incentives? Did they know about this, you know, ahead of time? Have they just basically deanonymized?
[00:45:03] Unknown:
Well done. You've just managed to put yourself on a list. Exactly. Yeah. That's why, I mean, I did a pod with Urban Hacker going into the nitty gritty details of pros and cons of using that service. And, at the end of that conversation, it was, like you said, tread very, very carefully if at all, and, it is not advised.
[00:45:26] Unknown:
Yeah. Indeed. And and in fairness, there's an old lead developer that goes by NothingMuch on Twitter. That's their handle that has been shouting about vulnerabilities similar to this since he was well, I will either left Wasabi or was removed from Wasabi, basically, around the time that they started to do all of the censorship on the the default coordinator before it got wound down. He's been shouting about this sort of stuff for months now. Unfortunately, you know, it doesn't seem to have kind of, hit home until until now. I'm glad that it's getting the publicity that it deserves. So I've also seen a couple of comments. And again, I have not been able to validate whether it's true or not. But there's also a couple of comments that even if you do update, that there is no guarantees that this is for a client to guarantee that this has actually been fixed yet. So exercise extreme caution if you are using these types of protocols that even though the no bullshit Bitcoin article that you'll, see in the show notes here says user urged to update their instances. I have seen comments from, you know, more technical people than myself that say that this is still not enough. So yeah. We just, tread very carefully if you're a user of those types of services.
Okay. Next vulnerability is on the Lightning Network. And this was a big one. It essentially allowed a compliant or a minor to steal all well, I say 98% of the funds from your Lightning channel. And this affected all of the popular, Lightning node implementation. So Eclair, LDK, LND, and I believe, yeah, Corelightning as well was also affected. So, I'll give you a brief description here. So if a channel is opened by Mallory with a counterparty Bob I didn't come up with that name by the way. I'm reading this from the the disclosure. So if Mallory opened a channel with Bob, Mallory performs the following steps. She moves 99% of the balance in her channel to her side by rebalancing or receiving funds. She updates the off chain Lightning Network commitment transaction to allocate 98% of the balance to on chain transaction fees. She again updates the commitment transaction to restore fees to a minimum acceptable level and then moves 99% of the balance to Bob's side of the channel, and then broadcasts or personally mines the version of the transaction that pays 98% of the balance of the fees. Oh. Yeah. I think the prerequisite here, because that can get very confusing very quickly, is that if you have a direct channel with a a miner or somebody that has a an offline relationship with a miner, it means that you can be malicious and have the miner mine a, you know, an incorrect state of the Lightning channel essentially that allows you to steal most of the of the funds within there. That kinda makes sense. Mhmm. Quite a serious one then. Yeah. Indeed.
So as long as you're up to date with your Lightning node, within the last, I think, month or so, then you're probably already protected about this. Oh, it's it's way longer than that, actually. So Eclair fixed this in this in February. LDK fixed it in May. LND fixed it in July. And as of 12 days ago, it seems that Corelightning, remain vulnerable to the worst case scenario if a certain setting is enabled, which is called ignore fee limits. So if you are just a default user, it sounds as though you're already protected against this. So no no cause for panic here. But, maybe if you're a core lightning user, click the link in the description and then check out that flag setting that, you know, would keep you vulnerable to this and and just check whether or not you've got that enabled. But, otherwise, if you're up to date, you're already covered. But that was a pretty bad one. It looks like it was it was discovered by the right people and not the wrong people that were able to exploit it, which is which is good. But once again, always one of the, trade offs with, you know, using cutting edge lightning software is that, you know, there's always undiscovered bugs. Mhmm. Okay. Final vulnerability.
The Proton Wallet has had a fix on their encryption vulnerability. So the preview version, and that is the important part here, is the preview version. So if you only got access to to the wallet after the, you know, the main release, you are absolutely fine with this. So the preview version, which was launched in the summer of 2024, basically had a low entropy kind of generation. Basically, they're using terrible entropy to generate their wallets because you couldn't, I think, at the time import any seed words or anything like that. Oh, so when you're generating a seed using their wallet, the entropy's
[00:49:53] Unknown:
very bad?
[00:49:54] Unknown:
Yeah. So they they use poor random number generation, essentially.
[00:49:58] Unknown:
Why? How?
[00:50:00] Unknown:
Exactly. Yeah. What? This was a problem, you know, let's say, 10 years ago in Bitcoin where wallets were just using shitty entropy and that was quickly getting exploited. We shouldn't be in this in this, a proton. Yeah. Exactly. Like, they've got a huge team behind them. I'll may maybe the Bitcoin team is very small. I don't know. But they were generating seeds that were just 32 bits of entropy, which is, you know, clearly not enough. That's meant a lot. Yeah. People were I don't think that it was actually exploited. I think they found it themselves in fairness. But basically, they were able to brute force wallets.
Yeah. And, yeah. So not good. But, it's been patched. So as long as you're, again, up to date well, I say Proton. It's like a hosted thing, so they'll be up to date for you. But hold on. Maybe well, if you've got, like, a a a dormant wallet that you use as part of the early access program thing, If you've got any funds in there, get them off quickly and then, you know, start yourself off with a new wallet. Yeah. I was just about to say, like, an update is not gonna fix that. Yeah. Definitely, you you, you take you sweep those.
[00:51:07] Unknown:
Okay. Well, yeah, I I am surprised by that because, you know, they aren't a rinky dink outfit. They are Exactly. They're big players. So surprising, but at least they've got on top of it. Absolutely.
[00:51:18] Unknown:
Bit more positive news. The Czech Republic has eliminated Bitcoin capital gains tax for long term holdings. So The Czech Republic is enacted as a law that exempts Bitcoin holdings held for more than 3 years from capital gains tax. This legislation received unanimous approval from the National Nations Parliament on December 6th and to take effect on January 1, 2025. Wow. Pretty cool. Yeah. So if you hold for 3 years, yeah, then you don't pay any capital gains tax whatsoever. That's pretty cool. That's very cool. Presumably
[00:51:48] Unknown:
that is obviously just for their citizens and people can maybe consider going over on a golden visa of some sort or something like that. If they have KYC Bitcoin and they wanted to sell large amounts, it might suddenly make it worthwhile?
[00:52:03] Unknown:
Yeah. Absolutely. I'm just scanning through the article. It doesn't, say anything specific about kind of, non residents or anything like that, But, I'm sure it will you know, the details will become a little bit clearer in in the weeks months that follow. But, you know, at the very least, even if you are a a resident, like, it's great news.
[00:52:23] Unknown:
Yeah. Yeah. We don't talk about the, like, price and that sort of side very often, but one thing I do often think about is where you do have people, and I think it's most people who are heavy on the KYC side. Oh, yeah. They, at some point, will want to buy some stuff, like, whether it is a house or a car or whatever it is. And so for those sort of people, as the price runs and they get to a point where they're like, you know what? I could sell x percentage of what I hold, and I could really improve my life and my family's life. And, yes, it might double or triple or quadruple or 10 x again. But, you know what, this is enough, and I'm happy. This is something that people should consider is if you're in the UK or many other places, if you wanna actually sell that Bitcoin, you are gonna be bent over a barrel and raped up the asshole for a lot of it. Like and when we're talking about big numbers, do you really wanna be giving that percentage away? It might actually be better at some point in time for people to say, no.
Fuck that. What I'm gonna do so I'm gonna go and get a golden visa. I'm gonna go and move somewhere else. I'm gonna sell over there. I'm gonna pay no taxes. And then that 20 5, 30, 40, whatever crazy number, it's gonna be in the UK over the coming years. Go and spend that on your family or people you care about rather than dropping bombs. Yeah. There's a a quick producer note for for Jordan here. There's a great image within this article that
[00:53:50] Unknown:
shows, like, the the capital gains tax on Bitcoin held for longer than a year, basically, across the whole world. There's a surprising amount of countries that have 0%. Mhmm. So if we can include that, but, like, just to list a few here, Switzerland, Germany, Belgium, Luxembourg, Portugal, Gibraltar, Croatia, Turkey, Malta, Slovenia, Georgia, UAE, Hong Kong, Taiwan, Indonesia, Malaysia, Thailand, Singapore, Seychelles, loads of the the, like, area around the Bahamas.
[00:54:20] Unknown:
There's loads. I'm really shocked by this. Well, a lot of them have no capital gains. Like, Portugal, for example, is no capital gains tax at all. Oh, on anything. Right. It doesn't exist. So, I I imagine a lot of those other places will be similar. And, you know, that's completely fucking logical because it's like you've already been taxed. Your employer, if you're employed, has already been taxed to be able to pay you. Then you get a percentage of that, but you get taxed on top of it. Mhmm. Then you get all your National Insurance and other bullshit and taxes, and then whatever you're left with is then inflated away with the silent weasel tax of inflation. And then anything you buy with that tiny bit that you have left, you pay sales taxes on and VAT on and any other crazy taxes on the things that you might buy. And then whatever's left over that you wanna put into savings or any sort of financial vehicle, if you invest it and you lose all of it, you take all the losses. But if you are right and that thing gains in value, then when you sell it, they take a large percentage of that gain as well. So it is just Scandalous.
It's fucking disgusting. Oh, and then at least when you die, they take 40% so that your kids don't get anything. That I mean, that's the best one. Yeah. It's it's just completely,
[00:55:41] Unknown:
like, leaves me lost for words sometimes. Yeah. On the flip side of of this scale as well, just there there's also some shocking numbers. Like, Japan is 45%, Denmark, 42%, Ireland, 33%, France, 30%. Yeah. There's some wild numbers here. Cuba, I mean, Cuba is probably not a surprise, 35%. Austria, 27 a half percent. Like, yeah, it's That's crazy. That's confidential. Crazy numbers. Crazy. And, you know, imagine you've been sitting on this for, like, 10 years. Like, that's not chump change paying 45% of your increasing value. Jesus Christ.
[00:56:19] Unknown:
Yeah. So if you are one of those people and you have a lot of KYC Bitcoin and you do decide that it's your time to sell, please consider moving somewhere where you're not gonna be taxed. And then you can you can look at what your tax bill would have been for that or the cap gains would have been for that. Go and donate it to free samurai or something that actually makes a difference. Don't give it to these fucking cunts. Yep. Cosign that. Run over.
[00:56:43] Unknown:
Final, news item. El Salvador's back in bed with the IMF. They have agreed to scale back their Bitcoin policies in return for a $1,400,000,000 loan from the IMF. Oh, good. So quite the about turn for mister, god. What's his name? Bouquet. Yeah. Bouquet. I was gonna say, Mille, but that's, he's the Argentinian one, isn't he? So, yeah, they have, they've secured a 1,400,000,000 loan from the IMF. Immediately, everybody on Bitcoin Twitter is running to say, oh, yeah. He's gonna he's gonna lump it all into Bitcoin. Yeah. And, I well, same as you. It was like, yeah. Fucking right. But in the interest of me being honest and humble, it does seem as though they have started to increase the amount of Bitcoin that they're buying versus their current cadence. So he does seem to be increasing his Bitcoin balance more significantly than he ever used to. Not to the tune of 1,400,000,000, I must add. Like, it's a it's a little bit of an increase, but I don't know. Maybe he's testing the awards. But, yeah, they have had to scale back. I think Bitcoin is now no longer well, it depends on who you ask, but, people are saying it is technically still legal tender, although it's voluntary now, which to me doesn't mean legal tender.
Mhmm. And also that I think the you now have yeah. You can only pay your taxes in US dollars. And the government's participation with their crypto e wallet, I don't know who's given it that to, but the Chivo wallet is gonna be one round as well. So they're gonna kind of, I guess, sunset that wallet. So you can technically still use Bitcoin in the country as part of this deal, but it's voluntary. So a merchant can easily tell you to to do one if they don't want Bitcoin, and you can no longer pay your taxes in USD as well In in Bitcoin,
[00:58:33] Unknown:
should I say. I can't say that I'm that surprised. Likewise. And and it goes to show, like, although I've just gone on a rant about actually using the legal system in some way to avoid taxes, at the same time, don't change your whole life just because a law has changed in a certain country because you don't know how long that can change, and it only takes a day and bang. You know, everything is gone. You think of all the people who have decided to up and leave and move their countries and businesses and everything and their families over there, and it only takes a day to be changed. So just be cautious. But but on the other side, I would just say, like, if the IMF want to come to me and give me $1,400,000,000, I will, I will stop my Bitcoin policy for Uncoverable Misfits.
Alright? So just let me put that out there. Just a cheeky 1.4 bill, and, we will I don't know. What will we do? We'll accept fiat on the store or something like that. So just think about it. Yeah. So just to circle back on how much he's purchasing,
[00:59:34] Unknown:
it seems as though he used to do basically 1 Bitcoin every day. Mhmm. Which is kinda nice. I like that kind of, you know, gradual increase. And then on the 19th December, he I say he. The country bought 11 Bitcoin, and then they did another 11 Bitcoin a a couple of days later as well. And that's all been within the last couple of weeks since all this has been announced. So k. Take from that what what you will. We will see. Yeah. Yeah. Indeed. Oh, and there's also been a a carrot dangled again by the IMF of a further 3,500,000,000.
As kind of like, I guess if you continue to play ball, you can have some more of our fake money. Okay. So we shall see indeed. Alright, mate. Yeah. I know we're on a tight rip. That's the end of the news. No software updates today, but, if people are wanting to stay up to speed, just check out the No Build Chip quick feed. They have been the the backbone of the show this year. It's where I get all of the the news articles and software update details for, for everything that we do on, on the Bitcoin Brief. So, thank you to those guys as well. But Yeah. Any any other business, mate? Anything you wanna sign off with? It's been it's been a fun year. It's been an interesting year. It's been an enjoyable year, and it's been a busy year. But, it's good to see from my perspective, you know, listener base of the podcast growing, new shows on the horizon for the ungovernable misfits medi verse, which is I'm very excited about. So, yeah, cheers to you. More of the same in 2025, mate. It's been an absolute pleasure as always.
And, yeah, thanks for having me along on the journey with you. Yeah. Well, cheers to all the ungovernable misfits,
[01:01:16] Unknown:
everyone in the crew. And, yeah, same to you, mate. I appreciate everything that you put into the show and, everything that you've taught me over the years. It's amazing to have you part of the team, and I'm very excited to have a new announcement in 2025. And, oh, I tell you what. Do you wanna hear, a little song that I made yesterday?
[01:01:37] Unknown:
I absolutely do. Yes.
[01:01:39] Unknown:
Leaning on some of my AI skills here, but here we are. We'll sign out with this. We love you all.
[01:01:52] Unknown:
I like it already.
[01:01:55] Unknown:
Snowflakes tears fall because we are still here. Hunger, vulnerable spirits have no fear. The listener streaming does not cease. Podcasting, 2 coin, old masterpiece. Crazy misfits trading peer to peer, you are the parasite's biggest fear. Your value keeps our fire bright. Every download feels just right. We wish you an convertible Christmas with every wild and crazy twist. Thank you, cunts, for your love and cheer, for sticking with us year by year. No bankers telling us to hush. Your support is enough to make a hash slut blush. Through the highs and through the lows, you've made our ungovernable spirit grow.
Value for value, love is true. A podcast family thanks to you. Your dedication fuels our song. Together, we misfits our strong. We wish you an ungovernable Christmas with every wild and crazy twist. Thank you, cunts, for your love and cheer, for sticking with us year by year. We wish you an ungovernable Christmas with every wild and crazy twist. Thank you, cunts, for your love and cheer, for sticking with us year by year, For sticking with us year by year. For sticking with us year by year.
[01:04:12] Unknown:
Thank you, cunts, for sticking with us year by year. Have an amazing Christmas.
[01:04:18] Unknown:
That was beautiful. That was excellent. I I'm very impressed that you got the c bomb to sound so festive. Thank you, Kuntz. Yeah. I like the way you said ungovernable as well. Ungovernable. It's like it was 3 words mashed together.
[01:04:35] Unknown:
Yeah. I kept fucking around with it to try and get it right, but, that was the best I could do with the morning. No. That was great. I I feel like that's gonna be, running around my head for the next couple of weeks. Well, yeah, to you and your fam and, to all the Ungovernable Misfits, have an amazing Christmas and New Year, and we will see you in 2025.
[01:04:58] Unknown:
Cheers, guys.
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