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AOB
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AOB
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- Prime customer address update request
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- Bitfest wrap up
- Max AOB
- Samourai sentencing
- Roman Storm update
- Attack in Bangkok
- Port Moody attack details released
- BitAxe mines a block
- Funds sent to weak PK
- Prediction market for Start9 before Xmas
- BlueWallet v7.2.2
- BlueWallet teasing Ark integration
- Nunchuk autonomous inheritance
- Money dev kit
- RecoverBull recovery protocol
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(00:00:41) THANK YOU FOUNDATION
(00:01:38) THANK YOU CAKE WALLET
(00:02:45) Treat Myself to Decaf
(00:28:26) One Night in Bangkok
(00:30:47) Port Moody Nightmare
(00:35:03) Another Bitaxe Block
(00:36:02) Weak Private Key Theft
(00:38:23) Predyx Start9 Prediction Market
(00:39:37) BOOSTS
(00:47:07) Nunchuk Autonomous Inheritance
(00:53:01) Recoverbull Bitcoin Backups
(00:58:31) Graphene OS Visual Updates
[00:00:04]
Unknown:
Bitcoin is close to becoming worthless. Bitcoin. 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 zero.
[00:00:42] Unknown:
Welcome back to The Bitcoin Brief, the show where me and q and a catch up every two weeks to talk about Bitcoin, privacy, open source, keeping your Bitcoin secure, and the news and software updates that matter. I just wanted say a massive thank you to everyone who's been supporting Ungovernable Misfits and a big thank you to Foundation Devices for supporting the show. If you haven't already checked them out, go to foundation.x,xyz. They make cypherpunk tools for fuckwits, and anyone can use this, even me. If you have any questions or you want to reach out, feel free, and I'll be happy to go through things with you. For anything super technical, I'll pass you on to q. If you wanna buy one of these incredible passports, use the code ungovernable.
It will get you a discount, and it will let them know that I'm shilling. I'd also like to say a huge thank you to the k Wallet team. Not only are they supporting this show, but they're also bringing out some incredible features. For those of you who actually use Bitcoin and actually care about their privacy and security, Cake Wallet make it incredibly simple for you to live outside of the traditional financial system. You can use Cake Pay within the app to buy gift cards for food, petrol, and whatever else you might need day to day. You can use silent payments, and, of course, you can use Monero.
You can connect both Bitcoin and Monero nodes, use coin control, and this team are constantly innovating. And I'm really excited to be working with them. If you have any questions, you can reach out to me, but check them out at cakewallet.com. Download the APK or start using this today on Mac, Windows, Linux, iPhone, or, of course, your Android device. Enjoy the show. Good morning, mate. How are you? Oh, what's that? German?
[00:02:49] Unknown:
Yeah. But I completely forgot until you hit record. And then I was scrambling, and all I could think of was but I don't even think that's good morning, is it? Or hello. I think it's goodbye.
[00:03:02] Unknown:
Is it? Let's have a look. I don't think we've ever been to Germany.
[00:03:08] Unknown:
Yeah. I've been a few times. It's Pretty average. As you'd expect, expect, really. Yeah. It's it means goodbye. I failed. Goodbye. That's a short one. Yeah. So, yeah. I'm well. How are you? Very good. I'm just enjoying my, decaf coffee at the moment, mate. I was gonna say, how is life on a decaf standard? Do you know what?
[00:03:28] Unknown:
Surprisingly, not that bad. It's not a full decaf standard because I have one coffee in the morning now. Like, first thing it's not even one it's not even, like, a big coffee. It's, like, a regular coffee, black. And then I'll have, like, two or three decafs just to sort of trick myself into believing that I'm still enjoying a coffee. Yeah. You still have the ritual. Exactly. Yeah. And I think that's like it's like a pattern and a ritual of, like, oh, I'm gonna do that. And I always used to do, like, I'm gonna smash out this task or this couple of tasks, and then, I'm gonna treat myself with a little coffee. Reward. It was just like Yeah. Yeah. Just like little pat on the back. Well done. You've done that thing. There's your coffee. And so if you take that away, it's not just taking the caffeine away. It's taking that whole ritual away. So it's not too bad. Like, the the decaf I've got tastes pretty decent.
I don't notice, like, a massive difference in terms of energy levels and stuff. That's good. But I went literally from probably, like, seven coffees a day Oh my god. Down to one. And then I got really sick for, like, a week. Like, literally, like, bed between bed, toilet, sink, back to bed. So I had no coffee and no food for, like, four days. So that was, like, a full break and then back to, like, one a day. And, yeah, it's alright. A few headaches for the first maybe four days. Nothing major. Just, like, a little bit, and that's it. Do you think it was the sudden cold turkey that made you ill? Or do you think it was just No. I think it was my youngest vomiting in my face and eyes.
Okay. Literally just, like, holding them, and they were they were sick, and they just proper just looked at me, like, all doe eyed, little puppy dog eyes, and then just vomited, like, directly into my eyeballs. And I think that's probably what did it. And then that mixed with just, like, other stresses and stuff just, like, fucking knocked me out. Like, the the kid was fine. Like, the kid was over it in a day, and then it it fucked me out for, like, five. My missus never gets sick. So I don't know. Just me. Fucking weak at the moment. Pathetic.
[00:05:46] Unknown:
So, it's interesting to hear the the decaf stories. That sounds like the name for a podcast that, doesn't it? Decaf stories.
[00:05:53] Unknown:
Decaf stories.
[00:05:55] Unknown:
The reason I'm asking is I'm considering the same myself. Not a total ban. And to be honest, after hearing your previous consumption, I feel much better about myself. Like, I'm a three day man. That's not too bad. And I'm toying with the idea of just taking it back to one per day, like, before exercise if it's on a training day or something. I presumed the initial few days were the toughest.
[00:06:17] Unknown:
Like, weirdly, not even that tough in all honesty. And I I'm surprised by it because probably for the last at least fifteen years, I've smashed coffee, like, a huge amount, especially, like, when I was in The UK doing silly hours and then staying up and doing the pod afterwards. Honestly, like, it wouldn't be that uncommon for me to have, like, 10 coffees a day. That's basically a smack addiction, isn't it, at that point? Yeah. Yeah. Yeah. It was just like, what can I do to just fucking keep myself awake for another few hours to edit this fucking show? Like, it was literally that. I sat there at, like, 03:00 in the morning. Like, should I have one more? So Oh my god. There was that. That was terrible. I was surprised that it wasn't as bad. I thought it'd be a lot worse. The alcohol's been worse because I've given that up as well, and that's been, like, a month. Wow.
That's been the hardest because everyone around me is drinking. And, like, that's the one where it's like, it's been a long day. Let's just, be nice just to have Mhmm. Just have a little drink. Just unwind. That's the ritual of, like, go and pour yourself a whiskey or go and pour yourself a wine or the sun's out or have a beer or something like that. That's like a nice little ritual. And there's no real replacement. I've tried the, what's it called, like, nonalcoholic beers. They're fucking shit. Like, I trick myself into it for the first sip, and I'm like, oh, yeah. That's not bad. And then about five seconds later, I go, this tastes like carbonated water.
This is putrid. Like, this is the worst. This doesn't do anything for me. I don't like it. And I've tried the fake wines
[00:07:48] Unknown:
shit. You're not a big beer drinker, are you?
[00:07:51] Unknown:
Not really. I'd have, like, one in the sunshine, but it'd be more like rum or whiskey
[00:07:57] Unknown:
or wine. That would be my kind of Yeah. And the the alcohol free versions of those are all garbage.
[00:08:04] Unknown:
Absolutely pointless. I don't think they even do an alcohol free version of whiskey and rummies and stuff. Like, I don't know. You have to, like, sniff petrol or something, but that's the harder that's the harder bit.
[00:08:15] Unknown:
The only two I found that I like the taste of or can tolerate the taste of would probably be more accurate is Heineken. They do a pretty good non alcoholic beer. Tripepper. Weirdly, Guinness, but only non draft. I've had when I went to the last time I went to Ireland, I was we had, like, a late flight home and I had to drive when I got back to the other side. So had a few normal Guinnesses, and I was like, oh, you know, I don't wanna stop drinking Guinness because I like the taste of it, but, you know, I can't get pissed because I've gotta drive when I planned back in The UK. They had it on draft in this bar, in Dublin somewhere. And, honestly, you can't taste the difference, genuinely.
[00:08:54] Unknown:
You just don't get that buzzy, like I like that first drink Indeed. First drink and a half, two drinks where you just get that little, like, giddy excited, like, problems fade away for a second. You're not thinking in the same, like, repetitive pattern of, oh, I could fix this problem. Oh, that's it shuts that off. That's the best bit. That first hour of, like, drinking, there's nothing really that replaces that. Especially now that I'd I haven't smoked weed in years, that fucking does nothing for me anymore. Absolutely. There's no benefit to me ever smoking weed anymore, and that was the only thing that used to like, I didn't drink for years when I used to smoke weed because I was just like, oh, I'll just have that. I don't need to drink. Mhmm. But now it's just like, I'm much better off not having it because it just fucks with my head.
[00:09:44] Unknown:
Really does seem to be quite a more common thing these days of people either drinking a lot less or just not drinking at all. It does. Yeah. Especially in my friendship circle as well, it's like nobody's, like, giving up, but, like, everybody's drinking a lot, a lot less. And I don't know whether that's just because we're getting older, but even in the younger generation here, I know I know a few Gen Zers and, like, they are boring bastards. Like, they never drink.
[00:10:06] Unknown:
They just do Coke or, like, fucking meow meow or whatever bullshit they do.
[00:10:12] Unknown:
Yeah. Probably.
[00:10:14] Unknown:
Probably. I don't know what they do. Anyway, enough of the coffee,
[00:10:18] Unknown:
abstinence talk. How's things otherwise all good before I go into to what I've been up to?
[00:10:23] Unknown:
All good. Yeah. All good, mate. What about you? Pretty good weekend.
[00:10:27] Unknown:
Hot off the back of a weekend in Manchester at Bitfest Oh, yeah. Which turns out was at the same hotel as the very first conference that you and I both went to in The UK. Do you remember that that hotel, Pendulum Hotel No. In Manchester? It was for, we met up with a few of the samurai gang there. What was the name of the coin fest?
[00:10:50] Unknown:
Do you know what? I don't think I actually ever went there. You must have been thinking of someone else who's really funny and good looking. Maybe. Yeah. Could be brother Rabbit, maybe. Maybe he was Yeah. Probably that sounds about right. Because, I try and stay away from Manchester if I can. Fair enough. I can't say I blame you.
[00:11:08] Unknown:
Really good weekend. Nathan Day, Nind and co put on a an absolutely wonderful conference. Probably, I don't know, maybe 250 people there tops. Okay. Great amount of people. The venue, there's, like, one main stage and then a couple of side rooms where there was, like, a a workshop stage, which was really small but, like, 30 seats. And then, like, a a demo area as well where coffee and the Ellen bits people and a few other tinkerers had, like, little tables set up where you can go and play around with nerdy stuff. Just had a great weekend. It drew a great crowd. The first day was a Nostra Shield day on the Friday. Saturday and Sunday were Bitcoin focused days. I was only there for the Saturday at the family commitments to go to on the the Sunday, unfortunately, so I've missed that. But, yeah, it was on two panels, one on the Nostra Day on Friday and then one on privacy and OPSEC on the Saturday as well. Got to meet some old faces and put some faces to to new NIMs that I'd not met before. So, yeah, it was a very good weekend by heart, and I would definitely be heading out there next year as well if Nathan and the team plan to put it back on again. It was it was really good. Really good. Well done, Nathan.
Well done. He probably won't mind me saying this, but, he looked tired. You know, we we like to wax lyrical about the fact that we got a lot on our plates. Like, he looked like his plate would been overflow for quite a few weeks. So, Nathan, if you're listening to this, I hope I hope you've had a few whiskeys or whatever your tipple is and and maybe a few good night sleeps because I know you're a nerdy riser like me. So, yeah, you need to, get some r and r, mate, because you look like Take a little a relax. You know, the thing is, though, he's not a million miles away from Ben Gunn, and I know he does sometimes have to see that bloke, and that's incredibly tiring. So it could also be that. Yeah. I mean, if you don't need to lock yourself in a dark room after organizing a conference and running b to c map, then you definitely do after a weekend with Ben Gunn.
[00:12:57] Unknown:
Just a phone call. Just a phone call. Oh, get a fucking wet flannel. Put it over my eyes. Let me just sit in the dark for a minute and just fucking recover here.
[00:13:06] Unknown:
Yeah. Indeed. Indeed. I I also got to meet Rick Messett, who if you don't know who he is, he worked in some shape or form with the guys from the Bitcoin way. I think he's he does marketing for them. Oh, yeah. Yeah. But he's also the guy that tragically had his whole entire or his and his dad's entire stack stolen maybe last year or the year before to the tune of, like, 25 Bitcoin. Yeah. Yeah. Yeah. He was very public about it. He's very open and honest, and, he seems to be in or on the fringes of a lot of the the privacy circles as well that you and I kind of mix in as well. You I always see him retweeting samurai favorable content and things like that. So pretty well aligned. So it's good to meet him and shake his hand and have a chat with him. He was on the op second privacy panel I was on on the Saturday. He also did a talk, which was absolutely fire, by the way. Like, if you go and watch any talk, I'm presuming that they're filmed and they're gonna be put up on the Internet afterwards. Nathan, if you're here listening to this, please confirm that in the comments. Rick did a talk where he basically just chat on British culture and British politicians for about half an hour. It was hilarious, like, very close to the what's the word? I guess, close to the wood comments and things like that that I'm sure if the powers that be were there, they would not have been laughing as much as everybody else in the audience. That was very funny.
But at the end of his his talk, he talked about or he announced a prize draw, which I thought was very interesting, and I wanted to mention it briefly. The link will be in the show notes here. But basically, it's to raise funds for a free speech organization, which is the name is eluding me now. I'll find it and just make sure it's in the show notes. But, it's a provably fair lottery, essentially, where you can buy tickets in Bitcoin or Lightning, obviously. And 50% of the winnings, the collective winnings, go to the random winner. I'm gonna come on to that in a second. And then 50% of it goes towards supportive free speech initiatives, essentially. The reason I wanna mention this other than the fact that it's going to a good cause is how they've done it. Basically, when you buy your tickets, you give them a Bitcoin payout address, and you can buy as many entries as you want. They wait till the deadline that this is finished. I believe it's next week. And then they will publish all of the entries, time stamp them in the Telegram room and in the website. Again, link will be in the show notes. And then Bitcoin, essentially, the Bitcoin network chooses the winner. So you might be thinking, how the fucking hell does that work? So, basically, what they do is after they've done the timestamp, they take the block hash of the next winning block, which as we know is completely random and decided by, well, the network and the the miner that, mines the successful block.
And then they divide that by the number of entries into the competition. Inevitably, that will not be a whole number, the result of that block hash divided by number of entries. So whatever's left after the whole number, as in the remainder, that line number is the winner of all the sats or 50% of the sats of the pot, essentially. And, obviously, because this is all driven by Bitcoin and the block cash and they publish and time stamp the number of entries, if you're a a participant, you can go and verify all of their maths and check that they're not picking a a non random winner to steal all the funds for themselves. And all of the the organizers for this, I don't when I I say all. I know Rich behind it. I don't know if anybody else is, but they're not taking any fees for this whatsoever. So it's fifty fifty split between the free speech initiative and the winner. Again, all provably.
[00:16:31] Unknown:
How do you know that they've put the correct not that I'm throwing shade on it or think that they would do this, but how do you know that the number of entries is correct? Because I could see how you might be able to do it if everyone's paying on chain. But if people are paying via Lightning, how would you prove the amount of entries is correct?
[00:16:52] Unknown:
You'd only be able to verify your own input, I'm guessing. When they publish the list of entries, you'd be able to go and verify. Let's say I did 10 entries all with my payout address. As long as I've got my 10 entries in there, that's the only thing you can verify as an individual, isn't it? Yeah. But what I'm saying is you couldn't verify that
[00:17:12] Unknown:
they've actually left it without interfering because you couldn't know how many entries there are in total, and that's what they use to divide the number by, which means it would be open for fuckery. I'm not sure I follow. You were saying they take the next hash, they take a number, and then they divide that by the total amount of entries. Correct. Yeah. And so what I'm saying is you can't know what the total amount of entries are. Correct. Therefore, they could put whatever number they want in there that might suit them better. Oh, you mean that they could just, like, the thing with all of their own addresses?
[00:17:49] Unknown:
Yeah. I guess that's true. Yeah. But we don't think that they would do that, and he seems like a nice guy, and I'm just being a twat and just, like, trying to find a flaw in a system, but just yeah. It is a cool initiative. Here we go. We published this is from the FAQ. We published our full list of entries so you can validate this for yourself in the following ways. Validating lightning entries. You can verify that every lightning entry was legitimate because our published list of entries contains an l n invoice ID alongside each associated payout address. Using our Lightning node ID, you can verify that every entry made via Lightning corresponds to a paid Lightning invoice to our node, preventing anyone from stuffing fake unpaid entries into the drawer. Here's our Lightning node ID. You could also enter on chain via opt return. Very, on trend at the moment.
In prize draws where free entries are available via opt return, you can verify that each of these entries is legitimate because our published list of entries includes the TX ID of each free entry and the hex code that the entrant needed to include in the op return. By scanning Bitcoin's blockchain, you can verify that TX ID did include an op return with a valid hex that was included in a block that was confirmed before the winning block. Okay? I mean, it seems like it's not a 100% foolproof as you've pointed out, but a good initiative nonetheless.
[00:19:02] Unknown:
Yeah. Very good initiative.
[00:19:04] Unknown:
I like that. Yeah. I think that's it for the Bitfest stuff. Just good to catch up with old friends and meet some new ones. Foundation stuff, we've sent an email out last week chasing people for any address updates. We appreciate it. It's been quite some time since you guys might have placed your preorders. So please just double check the address that's on your order confirmation. Check that it's still accurate. And if it's not, please reach out to us ASAP so that we can get those updated to make sure that we don't send your prime to the wrong address. But, yeah, pretty close now. I don't wanna put any dates on it because we've fallen cropper to that a few times. The fact that we're asking for address in things like that is indicative that we are significantly closer than we have been in the recent months. Also, I've done a quick, two FA app demo video. Again, linked in the show notes if you wanna go and have a quick insight as to how the the two FA app can work on your Prime. I demoed it using a a Discord account to show you how easy it is to set up. I'm sure most of the listeners are familiar with two f eight, not necessarily specifically within, the Prime ecosystem. So, go check that out as well. Very nice. Right. Onto the news, mate. Another samurai update. This time, we have the second sentencing. We covered the sentencing on the last show of Keone, who got five years plus some additional ridiculous onerous add ons as well, such as stealing some of his income while he's in prison and for quite some time afterwards as well as a fine. Well, since we last recorded last week, a samurai wallet developer, William Hill, has been sentenced to forty eight months in prison with three years on probation and a $250,000 fine in a New York courthouse.
Yeah. So not the news we were all hoping for, but I guess probably the news we were expecting, particularly after the first sentencing when it took a genius to know that something similar was coming down the pipe, unfortunately. The rage article that I'm reading from, again linked in the show notes, mentions that Hill must self surrender to start his prison time on January 2. So a little over a month away, unfortunately, before that begins. Yeah. I'm not gonna go into some of the details here, but, needless to say that not the result that any of us wanted to. And, unfortunately, due to the fact that the guys understandably took up a plea deal here that they they are unable to appeal against any of these sentencing. So the final hope that we have for these two freedom fighters is essentially a presidential pardon similar to what happened to Ross, and we all know how long that took to happen. So in the show notes, there is a change.org link that is titled stand up for freedom, pardon the innocent coders jail for building privacy tools.
If you do anything useful with your day when you're listening to this, please please please click that link, head to the change.org link, and sign the petition. It doesn't cost any money. It's gonna cost you sixty seconds of your time to go in there, add your name to the signatory list to try and get this in front of Trump because this is literally the last hope that the guys have to prevent them spending the best part of the next five years behind bars away from their family for essentially writing open source code, which we've covered at length how ridiculous you and I both feel that this is. They've clearly been made an example of. And the fact that all of this is going on under the Trump administration despite them posturing via multiple avenues around the fact that they are essentially not gonna do this and they're not gonna put open source developers in jail where they followed the guidelines and they clearly haven't, broken what they deemed to be any laws. They follow defense and guidance, etcetera, etcetera. And I know I'm repeating myself here, but the insanity of this just it's still not lost on me, and I'm sure I speak for you there as well, Max. So Yeah. Please, guys, just head to that change.org link. It'll be in the show notes. You'll find it on my Twitter. You'll find it on the ungovernable Twitter, socials, everywhere.
Head there. Please sign a petition. We're currently at a measly 1,918 signatures at the time of recording. So we're we're not even moving the needle yet, so we need to work a lot harder to stand any chance. What do we need at least a 100,000
[00:23:04] Unknown:
signatures, isn't it?
[00:23:06] Unknown:
I don't know if there is a threshold before it gets shoved under Trump's nose. I don't know how it works, to be honest with you. I know the 100,000 number has been banded around. I don't know whether that's what the trigger is. I've never dealt with any of this sort of stuff before. But, yeah, honestly, if we can get anywhere close to a 100,000, it would be wonderful. So, yeah, please just head out there and and click that link and just, show your support. It doesn't cost anything at all. Yeah. And, also,
[00:23:32] Unknown:
share the podcast it was on recently.
[00:23:35] Unknown:
Share things like that far and wide. Thank you for that. Yeah. That well, that's actually coming out tomorrow, Tuesday, November 25 on the John McAfee Twitter Spaces, but I'm sure it'll be a recording as well. Obviously, this will be released after that. So, yeah, go back and listen to that. If you go to the John McAfee Twitter account, I'm sure you'll be able to find it from there. I don't wanna say I'm looking forward to hearing his side of the story because I'm sure we all know what he's thinking and feeling Yeah. Or have an idea. But I'm glad he's willing to come out in the public after everything that he's gone through to talk about this, and hopefully, it'll help garner a few more signatures at at the very least. Who is the lady he did an interview with maybe, like, a week ago? It's the one that's already out. Yeah. I can't remember her name now. She was, like, some news anchor y type person.
[00:24:18] Unknown:
Oh, Kim Iverson. That's it. I've just found it on his Twitter account. So Jordan, if you could pop that in the show notes, that'd be great, mate. Thanks. Yeah. Kim Iverson. And I think, you know, she's got quite a big following, so shout out to her for having him on and raising awareness for this because it's all well and good, us speaking in our circles about this kind of stuff. We have a following on this show, but it's just like all the people that we speak to on Twitter and the, like, freedom focused people. It's not that many just normies jumping in.
[00:24:47] Unknown:
So going on that type of show and getting new eyeballs on it and getting people to hear how insane the situation is. And also getting to see and hear from him to see, like, this isn't a fucking criminal. This is a good guy, a family guy. Someone who you'd happily spend a day with and have a drink with, and he's a good person. So I think that is something that can help because it's easy to paint these guys as criminals and bad people and for people who are ignorant to the software and how it works, which is pretty much everyone. It's easy to get away with lies. Yeah. Certainly is. Especially when you're speaking on behalf of a three letter agency, if, you know, a faceless entity. The the normies, you know, lap up that sort of stuff. It's been an uphill battle from the start, and it's really not gone the way anybody in the industry wanted to see it go. And, I just hope that they can stay as strong as possible. And it's it's great to see that they've been strong enough to be public facing given that they've got a couple of weeks left with their families for the next couple of years. It's heartbreaking to see. And I'd actually seen those clips of him and I thought they were teaser clips of the podcast that's due to release tomorrow on Tuesday. Obviously, that's a separate one. I I've realized that now, so I'm gonna go and dig that out myself afterwards. And and, again, that will be in the show notes. Before we move on, PSA around the change.org link as well that we mentioned for the samurai guys to show your support.
There is a box or a field in there where you can donate some cash. Please do not use that link. All of that money goes to change.org to support them. It doesn't go directly to the guys. If you want to donate directly, there is a website. I think it's billandkionae.org. Again, that will be linked in the show notes. If you wanna go and support them directly, please do that. Next on the list, more not great news, unfortunately, but it's an update on the Roman storm tornado cash case. The government essentially has come out last week, I believe, after he was found guilty of conspiring to operate an unlicensed money transmitter earlier this year. Last week, they have essentially come out and filed their opposition against acquittal, basically arguing that Storm's motion for the acquittal should be denied because Tornado Cash did, quote in here, transmit user funds, a finding which appears, as we've said many times, at odds with the FinTech guidance that we've spoken about many, many times. The opinion of senior FinTech employees, the opinion of members of congress, and the DOJ itself. So, again, it just really paints a picture of how the levels of insanity that are being used to basically just ram this through the courts and get these, open source developers locked up, essentially. Mhmm. Storm's conviction on the money transmission charges have been widely contested by many people. Loads of people have been referring to the FinCEN guidance as they have with the samurai guys, which clearly exempted noncustodial services from these money transmission laws because they don't hold user funds or transfer on behalf of the public. But there's a quote here from the government. The jury reasonably concluded that Tornado Cash transferred funds.
Another quote, for Tornado Cash deposits, the user interface merely reads the blockchain and does not write to it, the government said in describing the software. According to the defendant, this means that it is the user's wallet that conducted transactions on the blockchain, which the prosecution finds both factually wrong and irrelevant. So very dismissive. And, yeah, this isn't strictly speaking news, to be honest. It won't be a surprise that the government thinks that the acquittal shouldn't be honored or or even be considered. But, yeah, it's just a further update as to the fact that they are not letting up despite all of the the posturing that the Trump administration has had around free speech, and we're not gonna jail open source developers, etcetera, etcetera. If you wanna read the full, details, there's a a great rate article on this linked in the show notes as well. Next news item. There's a lot a lot of doom in news here. I I do apologize guys, but it's all it's all current. It's all relevant, so gotta cover it. News coming out of Bangkok last week. The police there have arrested a 46 year old South Korean man accused of working with three Thai nationals to kidnap, assault, and rob a Chinese man of more than $10,000 in cash and cryptocurrency earlier this month. The suspect identified only as Lee denies the charges and claims the victim owed him money.
Wow. The 35 year old Chinese victim told police he was waiting for a taxi on Mahasath Road on November 1 when three men, two Thais and one South Korean pulled up in a Toyota sedan, punched him in the face and forced him into a vehicle. He said that he was taken to an underground parking area, an unknown location where the group beat him, stole 50,000 baht, which is about $1,500, from his bag, and forced him to transfer 9,375 USDT in digital currency to an account linked to the accused. Low on information as to how these attackers knew to target this man, although I could make some educated guesses as to the fact that he probably been public about the fact that he's maybe got some money. The reason I include this doomer shit is just a stark reminder that keeping your gobshot is a superpower, and you should leverage it as often as you can. The fewer people that know you have wealth in any form, doesn't matter whether it's cryptocurrency, but especially with cryptocurrency because of the fact that, you know, there are no refunds then. Yeah. Keep it to yourself or keep it to between you and your loved ones. These attacks are becoming far too frequent, unfortunately.
[00:30:03] Unknown:
Yeah. Wouldn't it be good if there was some open source developers who created software that could in some way protect people from these type of attacks by obfuscating where they had purchases
[00:30:14] Unknown:
and breaking links to any dangerous KYC information they might or might not have had to put in to acquire those coins. That would be lovely. It would be great. Yeah. It's almost like they would almost be like doing everyone a favor and helping people and creating a public good. Yeah. It would. It would certainly help. I mean, it isn't gonna erase the the KYC traces on the exchanges, which, if I'm being honest, is most of what drives these types of attacks other than people just being stupid and too loud on social media. That would be a a world I'd like to live in if that software existed. Mhmm.
More doom and news. This is an update on something that actually happened last year, but these court papers have now come out and provided more details. A 35 year old Hong Kong man has been sentenced to seven years in prison after a home invasion in which a gang of attackers traumatized the British Columbia family with beatings, waterboarding, and sexual assault while stealing some 2,200,000.0 from their crypto accounts. The guy whose name I'm not even gonna try and attempt to pronounce Poynter Poynter. Was sentenced by a British Columbia court on November 14.
The court papers revealed that on the evening of 04/27/2024, the family answered a knock at the front door of their house revealing two men dressed in Canada Post uniforms and wearing face masks. They said they had a package that required a signature. When the family's daughter, a student, went to get her father, the men entered the house and were followed by two more, all wearing gloves and masks. They spoke in Mandarin, Cantonese, and English, and referred to each other only by numbers one to four. The intruders restrained the family members, pushing their heads down and binding their wrists with zip ties. They then took the family's cell phones and laptops and demanded passwords, threatening to kill them if they were not provided. One had a firearm or an imitation firearm. The home invasion lasted thirteen hours, and then there's some more horrifying stuff that I'm not even gonna read out. It got worse. Terrifying.
Yeah. It really is terrifying. There's a couple of pundits on Twitter that have read more into the details here, and, apparently, one of the guys was quite public. I I can't remember his name now. Not somebody that's in the traditional Bitcoin sphere, but he was quite public about the fact that he was wealthy, and he had a lot of Bitcoin and crypto. So, again, the reason I include this is horrible as the report is, and if you're interested to to read it all, there's a MSN news link in the show notes if you wanna read all the gory details. But, yeah, again, it's just a reminder that stop talking about the fact that you've got Bitcoin on Twitter, particularly if you've got significant amounts of it. And I guess even if you don't talk about it, but if you've got that level of wealth, then you probably shouldn't be keeping the access to it in your house. Like Yeah. Definitely not. If you're talking upwards of a million dollars, you probably should be looking at something more advanced like Multisig, etcetera. I know I'm critical of Multisig, but in this scenario, a geographically distributed Multisig could have potentially
[00:33:06] Unknown:
protected their funds. Obviously, it's not gonna stop the trauma that the family would have went through, but it would have raised the bar rather than just giving them a password to a laptop to extract all of the funds. Yeah. I don't think you're that critical of multisig. I think you're just making the point as a general rule, as would I, that most people who are using it may not need to. It might be overkill and, like, overcomplicating things. But most people don't have anywhere near that type of money. You see people setting up multisig, and they've got, you know, half a percent of their wealth or something like that Mhmm. In it. And then you might say, okay. Maybe this as someone who's not that heavily invested and maybe doesn't use this technology that often. It might be overkill, and it might be overcomplicating
[00:33:49] Unknown:
things. If you're walking around, you have that sort of amount of money, don't be having that accessible. That's crazy. I've just found the fantastic summary from Bit Norbert on Twitter. Bit Norbert was one of the the great journalists that was covering the McCormack and and Wright case. I'm I'm gonna read this entire kind of summary verbatim because he's gone into the details because it's a great summary. He started off by saying horrific. Well, so here's some takeaways from the court report on how the family became a target. The attackers, quote, knew a lot of information about the family and their assets. The husband, quote, stored his and his wife's cryptocurrency on exchange accounts. He, quote, has boasted and exaggerated about his success with cryptocurrency investments, causing the attackers to initially demand 200 Bitcoin.
He had, in fact, lost a lot to a scam in 2018, and the attackers believed this because they had done enough research to know that he had been defrauded in the past. My takeaways, security is about friction and inconvenience, do not have convenient access to significant wealth in your home, And number two, shut the fuck up about your money. Very well succinctly put. Couldn't say it better myself. You're on mute, by the way.
[00:35:00] Unknown:
I was just saying, yes. Agree.
[00:35:04] Unknown:
Alright. Let's have a little break in the Duma stuff for a very brief snippet of something nice. Yeah. We have another Bittax mining a block. Very nice. Block number 924569, which nice, by the way. Which was mined over the weekend. I saw this as I was, sat listening to a a panel at Bitfest, has been mined by a Bittax. As always, with these, there tends to be some more information that comes out after the fact. In the days that follow, the miner was using solo c k pool, and it turns out that they had approximately five bit access going based on their hash rate. Nobody's publicly come out and claimed it. Good. Keep it that way if you're listening Better. Lucky winner.
But, yeah, again, I love stories like this. It's like the little man winning because five bit p x is is is not a lot of hash rate at all. No. They've they've spent, what, less than a thousand dollars on mining equipment and just netted themselves, you know, 3.25 plus fees of Bitcoin. Congratulations, whoever you are. Very nice.
[00:36:01] Unknown:
Yeah. That's cool. I love that. Back to the doomer stuff.
[00:36:05] Unknown:
Fucking hell. Otto well, that's not really doomer stuff, I guess. It's just somebody being stupid. Otto Otosh on Twitter posted a tweet I think this was only last night or over the weekend. Basically, somebody has just sent and subsequently lost 0.84 Bitcoin or $71,000 at the time of writing that was sent to an address that had a non random private key. The private key of this address is the ID of the coin base of the second block in the entire Bitcoin history. Do you understand that, Max? Does Does that make sense, or do you want me to recap it? Yeah. What I I lost you on that last little bit. It's the ID of the something of the what did you say? So, basically, somebody has created a a private key to a Bitcoin address using the block hash of block number two. Oh, okay. I get you. Which is, like, a stupid thing to do, obviously, because it transpires that people bots have done the same thing and are watching any addresses that are associated with weak private keys like that. Yeah. Yeah. There was a replaced by fee war, between multiple bots before a winner was found. I don't know how much the bots ended up with in the end.
Obviously, we don't know why somebody's done this, but, unfortunately, they've lost the best part of a full coin. Probably
[00:37:26] Unknown:
trying to be clever. It's always trying to do something outside of the standards. Like, the tried and tested ways is is generally just not a good idea unless you are extremely competent with this kind of stuff. And even then, I mean, probably just don't do it. Probably generate your keys on decent hardware device and have a passphrase and don't do anything clever or silly.
[00:37:51] Unknown:
Yeah. I mean, the fact that it's a block hash of block number two tells me that this isn't somebody, like, fumbling around with a hardware wallet or something like that, trying to be clever. That this is somebody that knows what they're doing, but knows enough to be dangerous, but not enough to be safe, I guess, would be a a succinct way to put it. Yeah. Very weird situation. If we get any more news or updates on it, I'm sure we won't because if that was me, I wouldn't own up to being that stupid and losing that much Bitcoin because that's, a lot of money. But, we'll we'll keep you up to up to date if that does come out. And then last one on the list, Jordan showed this under my nose about half an hour ago. This we talked about prediction markets on the on the last brief. Somebody set one up as to whether or not Start Nine is gonna give us a Christmas surprise Cool.
And release public beta 0.4 of their OS on or before Christmas day. I don't know why Jordan wanted to throw this under my nose, but I guess if you wanna bet on this, then you can, take the over under. Currently, it's sitting with five people betting on it. Total of 5,250.00 sats, so not a lot of liquidity with a 33% likelihood.
[00:38:59] Unknown:
That it does get released?
[00:39:00] Unknown:
That it does. Yeah. So it's not looking promising at the moment, but there's only five people that have got involved yet. So could be an easy way to It's probably Jordan throwing it under your nose because he's done a lot of work in that kind of Start nine ecosystem. And he's got some alpha. So he's, he's playing the bookies, and he knows it's coming out, and he's gonna try and double down. I see you, Jordan. Yeah. We see you.
[00:39:23] Unknown:
Yeah. He's, he's he's done quite a lot of work with packaging things for start line, so that's my guess. Yeah. Indeed. Indeed. Well, if you have got any more insights where we can, make some more money, Jordan, keep us in the loop. Yeah. Let us know. Always let us know.
[00:39:37] Unknown:
Right, mate. Let's hit the boost, shall we? I'll let you go first.
[00:39:40] Unknown:
Late stage huddle with 6,006 sets just puts a little, horse and a robot emoji. I think that's probably Shetland pony and robot.
[00:39:51] Unknown:
Well, I just realized that that was from the previous show, and I didn't delete it from the list. So late stage title, thank you. That that's two thank yous for your boost for across two shows. So we appreciate you. Yeah. Thank you. The highest booster for the last brief was actually mister Chad Farrow with 6,969, nice, sats. And, he said, never let great numerology go to waste. And he's put put in a nice little video there, which again will be linked in the show notes if you wanna go and, watch that one. Late stage HODL
[00:40:21] Unknown:
again for this episode with 6,006 SATs. This reminds me of a story someone once told me about the worst beer he's ever had. It was pretty good. He's always said that if he's buying, then he wants what he wants. But if someone else is buying, then he's not picky. Free samurai. Interesting. It was alright. It was pretty good.
[00:40:44] Unknown:
It was alright. Yeah. Chad Farrow again, March. Pod home gets my full endorsement. At Jordan, hit me up when you guys switched to Pod home and started adding the new podcasting two point o features like Chapters. That actually brought me back to the show because I stopped listening to Bitcoin podcast altogether. Glad to be back and really enjoying seeing Max on Govenable growing his media empire over the last year or so. Well, thank you, Chad. Thank you, Chad. Yeah.
[00:41:11] Unknown:
He's,
[00:41:12] Unknown:
very in the know when it comes to all this kind of stuff. He is mister podcasting two point o. I see him on the roster quite a lot talking about technical stuff that goes way above my head, but I'm I'm bullish that we've got somebody like him behind that and pushing the envelope. So keep up with the work, mate. We see you. Definitely. Also an endorsement for Pod Home. I said it last time, but if anyone is considering starting a podcast or, like, having the best tools available to them and they're already running one,
[00:41:39] Unknown:
I really can't recommend it highly enough. You know the issues that we have with almost every other bit of software and just constant issues with everything, but it's never let us down. And just constant being able to suggest changes and Barry just steps in and just does it. It's
[00:41:55] Unknown:
pretty special. Love to hear it. Pies.
[00:41:58] Unknown:
Hey. With a 121 sats. Salute, mushroom, strong-arm.
[00:42:05] Unknown:
Thank you, Pies. Nosta Gang with a 101 sats, still gang. Thanks for for stopping by on the recordings as well as the live show's Nosta Gang. We see you. Thank you. And w with a 101 sats.
[00:42:18] Unknown:
Stout is a subcategory of beer. Beer includes ales and larkers depending on the brewing process, which can be broken down further into groups like stouts, porters, sours, pilsners, IPAs, etcetera. Like how bourbon and scotch are both whiskeys, and whiskey, vodka, tequila, and gin are all spirits. If you wondered, cheers. Anyway, yes, he can buy you a Guinness. K. That's like a little Wikipedia page.
[00:42:49] Unknown:
I feel like whoever w is, I'm gonna go out on a limb and say that they're probably a brewer of some sort. I think maybe. Yeah. Well, we appreciate the info. We were talking about well that Ian sent a boost in, didn't he? Ah, yes. Offering to if anybody's going to Bitfest that he he would buy us a did I take him up from that? No. I didn't, actually. I think I was about to go on stage or something like that when he when he offered me one boost. It was good to meet him. I I got to meet him, Jake, because I'd have quick chat with him as well. I also met Pickle Rick as well who's in the chats. Good to to see his him face to face as well. He did, in fairness, also offer me a beer, but, I was I think I was about to leave at that point. But, thank you guys. Good to meet you. Oh, also, talking about Guinness, I'm heading out to Ireland this weekend to to drink some of the proper stuff.
Cannot wait. Nice. That's why we won't be seeing you on Friday then. It is indeed. Yeah. I've got a double header this week. I'm I'm heading up to the mountains with the wife on Wednesday for a couple of nights and then flying out to to Dublin on Friday to meet the boys for a few pints of the black stuff.
[00:43:51] Unknown:
Very nice. Very nice. Well, don't worry. Me and Seth will hold down the fort while you go and drink some pints. Nice. Well, you did a sterling job, last Friday before I showed up very, very late, so I would appreciate that. Thank you. Yeah. With a questionable story, and people in the comments did not believe the story. They were they all boys a bit suspect.
[00:44:10] Unknown:
They were all calling bullshit. But, like I say like like I said on the stream, I've got I've got a room full of 200 people looking vouch for me. Finally, BTC on board with a 100 sats that gave us two thumbs up. Thank you, BTC on board. Alright. Last part of the show, software updates and releases. Oh, by the way, Max, did you fix the links? Could you read these now? You mentioned something about BlueWallet not working. The link specifically, not the wallet. I can open the links. Okay. What I was saying, though,
[00:44:39] Unknown:
is using BlueWallet and putting my VPN in different locations, no matter where I was, I couldn't see the Lightning option. And they've done a tweet yesterday
[00:44:50] Unknown:
Ah, okay. Saying
[00:44:53] Unknown:
Lightning's back, basically, and then a screenshot of create new wallet, single signal, multi signal, Lightning. And then everyone was saying either, oh, I can't see it or the answer was, oh, yeah. Just change your location. It's not available in America. But I tried The UK. I tried Switzerland. I tried America. I tried I tried all sorts of different places, and I couldn't see it. So that was my question. Okay. I thought you were talking about the links to what I'm gonna talk about in the show. No.
[00:45:22] Unknown:
No. They work. That's why you got a perplexed answer back from me earlier on. That makes a lot more sense now. Okay. Well, to let the listeners know what the hell give you some context, BlueWallet has teased that they are adding back Lightning to the wallet. The reason that you couldn't access it, Max, is because I don't think it's out yet.
[00:45:41] Unknown:
Okay. Fine.
[00:45:43] Unknown:
That would be why. Yes. The tease is that they are doing so using ARC, which we've spoken about quite a few times on on the recent briefs. One of the great things about the old BlueWallet, Lightning I say great. Oh, well, it was great. The user experience was excellent. And the reason for that was it was custodial. Yeah. Yeah. They made it easy, obviously, with huge trade offs. The fact that they're adding this back in now after subsequently getting rid of the custodial option for obvious regulatory reasons is that I think knowing how they do UX and stuff, like, this feels like it's gonna be as easy as it was in the custodial world without the, significant trade offs of it being a custodial approach.
That's just me guessing. I've not tried it. I've not got any alpha there. My name's not Jordan, but I I'm looking forward to them releasing that. Also speaking of BlueWallet, they have released a new release, pretty big one. Version seven point two point two is now available for iOS and Android. A main feature is Taproot support. So you can do hierarchical deterministic Taproot hot wallets to use all of the usual stuff, send, receive. You can make watch only wallets. If your hardware wallet supports Taproot, you could also do that in BlueWallet, and it also supports all the usual stuff like coin control as well.
[00:46:55] Unknown:
Nice to see. Yeah. Very nice. Yeah. BlueWallet is probably one of the most simple to use wallets that's out there, UX wise.
[00:47:04] Unknown:
Yeah. I would say that is absolutely a fair assumption. Next on the list, less easier to use but much more feature rich, Nunchuk, a mobile wallet a wallet. They've got a desktop option as well that I am a big fan of. They, announced well, it's nearly two weeks ago now is, annoyingly, just after we recorded the show, where they've announced Nunchuk two point o with autonomous inheritance. This is the first assisted inheritance solution that is designed to outlive the company that created it. On chain time locks enforced by the Bitcoin network, and it has dual path recovery. One for guided assistance and one as an autonomous fail safe. And the cool and most important part here, it's none. K y c. Obviously, there will be a tweet thread or a blog post linked in the show notes. They have just added basically miniscript policies for their assisted wallets where basically if Nunjucks ceases to exist, there is an autonomous fail safe that sends your funds out of that. So you have all of your stuff in a nice mini script multisig wallet with decaying stuff with, you know, friend keys, parent keys, or whatever you wanna call them. Mhmm. The Nunchuck key is also kind of automatically rotated out after a predefined time lock if Nunchuck sort of suddenly disappear. That is all enforced on chain. That would just go to, like, a single sync address that you've given as a backup? Kind of. Quote here. How does the autonomy work? We utilize a robust multisig e g two zero four for day to day security.
But when the on chain time lock expires, the quorum automatically decays from a two zero four to a one of three. This activates the autonomous inheritance path, allowing the beneficiary to claim the funds without Nunjucks involvement. So you have a two zero four in happy path. Let's say you die and Nunchuk disappears. Even if both of those things happen, your, beneficiary, as long as they've got their one key, after the time lock expires, can spend the funds. That's pretty cool. I like that. But, crucially, up until that point, like, if you continue to live and Nunchuk continue to exist, your beneficiary can't steal from you. So it literally is the best of both worlds. It's fantastic. I like that. I think that's a really slick system. Yeah. It's it's fantastic.
The only caveat to it and, again, if you're still in large amounts, this is probably trivial. But to get access to the Honey budget plan in which this is available, it's $480 per year. It is completely in OKYC. You don't have to give any personal information like you do with other similar kind of assisted services, but Mhmm. You do have to pay for the service, which, you know, I am absolutely fine with. They're a business. They've gotta make money. And when when they make products, this call that enable this kind of basically, enable you to never ever need to rely on them and still have access to your funds is great for me. Yeah. It's a lot of money, but if you consider
[00:49:47] Unknown:
the type of person who might wanna use this, they've probably got a decent amount of Bitcoin to go through these hurdles. And then on top of that, if you compare it to any fees with any solicitor, which would be like the traditional way to do inheritance, You know, you literally just, like, have a fucking email from a good solicitor, and it's that much. So I think that's pretty reasonable. And, also, like, who really trusts their solicitors? No one. We shouldn't. When it comes to this kind of stuff, when you have something on Bitcoin and it's set up in this way, like, you can be pretty fucking sure this is gonna work. Yeah. Indeed. So this is good to see. And, you know, I hope there's a a good uptake on that so they can sustain themselves.
[00:50:31] Unknown:
Oh, you can also try it for free on Testnet as well. So if you've got, you know, a couple of hardware wires lying around and you wanna test it out for free and see what it feels like in the app, etcetera, yeah, you can go and do that before you you spend any funds whatsoever. Nice. Something else been released called moneydevkit.com by a guy called Nick Slaney. I saw this over on Nosta. There's a full seven minute video linked in the show notes. It's he's quoting here to say it's the fastest and easiest way for anyone to take payments online. It says, under the hood, we're using self custody lightning, but you don't need to worry about any of that. Just install a library, paste a few code snippets, or have your agent do it, your AI agent like he did, and take payments.
And if you head to moneydevkit.com, there's a couple of demos on there as well. So if you're looking to start taking payments but don't wanna have the overhead of something like a b two c pay server, this could be a good option. It's very new. I haven't tried it. I just saw it on Austin and thought I'd mention it. It looks like it's pretty easy to do. Looks like they have a pretty punchy pricing tier of 2% per transaction, but I guess you've gotta pay for convenience.
[00:51:39] Unknown:
Yeah. And that's not that different to, like, credit card would be. No. True. True. But it does kinda nullify one of the main benefits of using Bitcoin as a merchant. Right? You know, you're saving those two or 3%. But, again, you gotta pay for convenience. Otherwise, you pay with your time. And, also, if you're setting up a BTC pay server, you've either gotta run your own hardware and infrastructure or you've gotta pay for hosting, and hosting isn't cheap. So unless you're doing massive volumes and you generally aren't with Bitcoin, then you might actually be better off. Like, I would be better off paying 2% of every transaction that we get through for Uncoverable Misfits for clothing and stickers than I would for paying the Luna node that we're currently running. Interesting. Because we don't do massive volumes.
[00:52:24] Unknown:
So that would actually work out cheaper. Yeah. Yeah. Yeah. Makes sense. Maybe it's worth exploring. Yeah. Get Crown on it. Okay. Last one on the list, the Bull Bitcoin guys been shipping quite a lot recently. We talked about their wallet announcement on the last brief. And since then, they've also announced RecoverBull, which is a terrible name, but it's an encrypted Bitcoin wallet backup protocol. Once again, lengthy blog posts, very technical blog posts linked in the show notes with an accompanying video, I think, from Francis. But the TLDR here and I'm I'm keen to get your thoughts on this, especially as it pertains to maybe as a competitor to Magic Backups within our ecosystem at Foundation. But jump in if I lose you at any point, but I'm gonna attempt to tell you how it works.
So it's a two part backup system for your hot wallet, essentially, on your mobile phone. The seed words are encrypted and saved as a file, and you can store that file wherever you want. ICloud, Google, local, whatever. Yeah. And the decryption key needed to decrypt that file and access your seed words is stored separately on a recoverable key server. So a a server controlled by all Bitcoin, essentially. Mhmm. On that server, you choose a simple password or PIN, and that password or PIN is used to encrypt the backup key before it is sent to the server and then to authenticate with the server later if you need to recover. Still with me? Yeah. So the backup process, this is where I get a bit lost, but the the wallet derives a backup key using a BIP 85 seed from your hot wallet.
Mhmm. The backup file contains your encrypted seed words and your wallet metadata. And the backup key is encrypted with your password that you choose, and then it's uploaded to their key server over Tor. So the server stores it under a key ID that doesn't identify you. So there's no information required. So quick recap. You store a backup file, and the key server stores the decryption key to access that backup file, and you have to remember or store a password to get hold of that. Yes. So the recovery process to restore, you need your backup file and your password or PIN depending on which you choose. The wallet uses your password to ask the server for the encryption key. The server has, rate limiting to stop, you know, random people from brute force in your wallet. And then once you provide the correct password or PIN to their server, it's the wallet uses that decryption key to unlock the backup file that you stored yourself.
Mhmm. So it's basically a two of two encrypted backup file. You store the backup file, the encryption key is on the server, and then you have a password to link them. My take is for Hot Wallet, this is secure but over engineered because the user still has to store two things. This could be automated so that the file goes to your iCloud account or to the Google account. So let's discount the fact that and say that you don't need to store that and it's done for you. You still gotta store a password or a PIN. Right? Mhmm. So what are you actually saving here versus the magic backups that we have where your seed was encrypted and stored in your iCloud account or your Google account if you use magic backups, and then the foundation server automatically stores all of your metadata. You don't need to remember a password or PIN specifically, although you could argue that you do because it's all tied to your iCloud or your Google account. Basically, the prerequisite is that you can access your iCloud or Google account. So it's a similar sort of thing. But with the recoverable one, it's like an additional PIN or password because the users are still gonna have an iCloud or a Google account with a PIN or a password.
So this, for me, the main downside I can see is it just gives them something else to have to remember or to store. Like you say, I I feel like to me, it's maybe a bit over engineered because,
[00:56:13] Unknown:
alternatively, you could do something like Ashigaru and samurai used to do, which was like you you have your 12 words, and then you have your passphrase.
[00:56:22] Unknown:
And your passphrase is what you can use to unlock the encrypted backup that's stored on your phone. Right. But the point there is that you have to keep the seed words and the passphrase. You have to yeah. The cell here from the ball, Bitcoin guys, is that all you need to have physically is a PIN or a password.
[00:56:38] Unknown:
Well, no. Because the passphrase is what decrypts the backup. So you can just have a backup, and then you can restore from backup and just put in your passphrase. So you don't actually need to write down the the 12. Yeah. You're right. Sorry. All you're doing is you have one thing to write down and store or, you know, write down slash store in some way, and then you have your backup. Yeah. The TXT file. Yeah. You're right. Personally, I think that's quite a nice way of doing it. And then, obviously, Envoy with Magic Backups is another nice, very simple way of doing it. But I don't know. Maybe we're missing something, but it seems
[00:57:17] Unknown:
fine, but just maybe a bit over engineered. Yeah. I guess if I was to try and steal, man, the the pro argument here would be that because of the rate limits on on the server and the the fact that everything's encrypted, that you could, in theory, just choose a weaker password or PIN for the all Bitcoin server, essentially, because they enforce rate limits in. And there's no user IDs. Like, you could, in theory, afford to not have a really strong and unrememberable password True. Essentially. Yeah. Okay. I guess that doesn't stop the bulk Bitcoin server from trying to brute force it. But I guess if you're using their their wallet, then there is an assumption that they are good actors anyway. Yeah. Yeah. Yeah. Yeah. Well, they've been around for a while, but still yeah. Okay. It's not like a bad system as far as I can tell. Just No. No. No. Not at all. Yeah. The reason I've been a little bit more critical is that I'm I'm just trying to rationalize to whether this is better or worse or just different than magic backups and whether there's anything we can learn from it to improve our user experience. But just seems like a different approach here with I guess, I just can't come away from the fact that it's it's something else that the user needs, whereas we we mitigate that by tying it out to their iCloud account. But of course, that also comes with trade offs as well. So Yes. Yes.
Okay. End of the list, mate. I don't have anything else to talk about. I think I'm due a coffee after all. That's, cattle. You're not doing the decaf then? You're gonna go straight for a real, a proper one? Yeah. Not yet. Well, I haven't actually bitten the bullet and bought any decent decaf beans or or ground coffee yet. So I didn't ask you earlier, actually. You're just buying ground decaf coffee?
[00:58:54] Unknown:
Yeah. I just buy ground, and I use I always forget the name of it. What's it where you put it on the stove and you put the water in the bottom? Monka pots. That's it. Yeah. We we use one of those. I used to use a cafetiere, but since having kids, we went through, like, three or four of them that got smashed. Because anything that's anywhere that could possibly be smashed, they will find a way. And so I was like, at least when they knock that off or, like, it falls on the floor, it's generally it's okay because it's metal. Nice. Okay. So these things you gotta think about. Yeah. Yeah. Indeed. Indeed, there is.
[00:59:27] Unknown:
Oh, I forgot. Jordan mentioned about some GrapheneOS updates as well, didn't he? That's I don't know what the link for. But mainly, there's some design and UI overhauls, and it's building upon the Android 16 QPR one release, which came out in the December 18. Visual refreshes, major updates and notifications, quick settings, lock screen, launcher, settings app with physics based animations. Interesting to see what the hell that means. Fresh app components, stylish color themes, and background blur effects. Quick settings improvements, tiles can now be resized to icon only mode.
Nice. I like that. Increasing capacity from eight in a two by four grid to 16 in a four by four grid per page, also good if you're a tinkerer. And the initial swipe down view shows eight alongside notifications for quicker access. Nice.
[01:00:16] Unknown:
Okay.
[01:00:18] Unknown:
Very nice. Alright, mate. Shall we call it a day? And I will not see you on Friday. Yeah. I'll see you two weeks from today. Yeah.
[01:00:26] Unknown:
Alright, mate. Enjoy Ireland. Enjoy the pints, and I'll speak to you later. Yeah. Cheers, dude. See you, mate.
[01:00:32] Unknown:
Before you go, mine inbox.io help keep your online presence hidden. They provide anonymous server hosting solutions, virtual private and dedicated servers, domain registration, and DNS parking. They don't require any of your personal information, and you can purchase using Bitcoin, Lightning, or Monero. No personal information required. None. Zero. Mine in box.io. Stay ungovernable.
Bitcoin is close to becoming worthless. Bitcoin. 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 zero.
[00:00:42] Unknown:
Welcome back to The Bitcoin Brief, the show where me and q and a catch up every two weeks to talk about Bitcoin, privacy, open source, keeping your Bitcoin secure, and the news and software updates that matter. I just wanted say a massive thank you to everyone who's been supporting Ungovernable Misfits and a big thank you to Foundation Devices for supporting the show. If you haven't already checked them out, go to foundation.x,xyz. They make cypherpunk tools for fuckwits, and anyone can use this, even me. If you have any questions or you want to reach out, feel free, and I'll be happy to go through things with you. For anything super technical, I'll pass you on to q. If you wanna buy one of these incredible passports, use the code ungovernable.
It will get you a discount, and it will let them know that I'm shilling. I'd also like to say a huge thank you to the k Wallet team. Not only are they supporting this show, but they're also bringing out some incredible features. For those of you who actually use Bitcoin and actually care about their privacy and security, Cake Wallet make it incredibly simple for you to live outside of the traditional financial system. You can use Cake Pay within the app to buy gift cards for food, petrol, and whatever else you might need day to day. You can use silent payments, and, of course, you can use Monero.
You can connect both Bitcoin and Monero nodes, use coin control, and this team are constantly innovating. And I'm really excited to be working with them. If you have any questions, you can reach out to me, but check them out at cakewallet.com. Download the APK or start using this today on Mac, Windows, Linux, iPhone, or, of course, your Android device. Enjoy the show. Good morning, mate. How are you? Oh, what's that? German?
[00:02:49] Unknown:
Yeah. But I completely forgot until you hit record. And then I was scrambling, and all I could think of was but I don't even think that's good morning, is it? Or hello. I think it's goodbye.
[00:03:02] Unknown:
Is it? Let's have a look. I don't think we've ever been to Germany.
[00:03:08] Unknown:
Yeah. I've been a few times. It's Pretty average. As you'd expect, expect, really. Yeah. It's it means goodbye. I failed. Goodbye. That's a short one. Yeah. So, yeah. I'm well. How are you? Very good. I'm just enjoying my, decaf coffee at the moment, mate. I was gonna say, how is life on a decaf standard? Do you know what?
[00:03:28] Unknown:
Surprisingly, not that bad. It's not a full decaf standard because I have one coffee in the morning now. Like, first thing it's not even one it's not even, like, a big coffee. It's, like, a regular coffee, black. And then I'll have, like, two or three decafs just to sort of trick myself into believing that I'm still enjoying a coffee. Yeah. You still have the ritual. Exactly. Yeah. And I think that's like it's like a pattern and a ritual of, like, oh, I'm gonna do that. And I always used to do, like, I'm gonna smash out this task or this couple of tasks, and then, I'm gonna treat myself with a little coffee. Reward. It was just like Yeah. Yeah. Just like little pat on the back. Well done. You've done that thing. There's your coffee. And so if you take that away, it's not just taking the caffeine away. It's taking that whole ritual away. So it's not too bad. Like, the the decaf I've got tastes pretty decent.
I don't notice, like, a massive difference in terms of energy levels and stuff. That's good. But I went literally from probably, like, seven coffees a day Oh my god. Down to one. And then I got really sick for, like, a week. Like, literally, like, bed between bed, toilet, sink, back to bed. So I had no coffee and no food for, like, four days. So that was, like, a full break and then back to, like, one a day. And, yeah, it's alright. A few headaches for the first maybe four days. Nothing major. Just, like, a little bit, and that's it. Do you think it was the sudden cold turkey that made you ill? Or do you think it was just No. I think it was my youngest vomiting in my face and eyes.
Okay. Literally just, like, holding them, and they were they were sick, and they just proper just looked at me, like, all doe eyed, little puppy dog eyes, and then just vomited, like, directly into my eyeballs. And I think that's probably what did it. And then that mixed with just, like, other stresses and stuff just, like, fucking knocked me out. Like, the the kid was fine. Like, the kid was over it in a day, and then it it fucked me out for, like, five. My missus never gets sick. So I don't know. Just me. Fucking weak at the moment. Pathetic.
[00:05:46] Unknown:
So, it's interesting to hear the the decaf stories. That sounds like the name for a podcast that, doesn't it? Decaf stories.
[00:05:53] Unknown:
Decaf stories.
[00:05:55] Unknown:
The reason I'm asking is I'm considering the same myself. Not a total ban. And to be honest, after hearing your previous consumption, I feel much better about myself. Like, I'm a three day man. That's not too bad. And I'm toying with the idea of just taking it back to one per day, like, before exercise if it's on a training day or something. I presumed the initial few days were the toughest.
[00:06:17] Unknown:
Like, weirdly, not even that tough in all honesty. And I I'm surprised by it because probably for the last at least fifteen years, I've smashed coffee, like, a huge amount, especially, like, when I was in The UK doing silly hours and then staying up and doing the pod afterwards. Honestly, like, it wouldn't be that uncommon for me to have, like, 10 coffees a day. That's basically a smack addiction, isn't it, at that point? Yeah. Yeah. Yeah. It was just like, what can I do to just fucking keep myself awake for another few hours to edit this fucking show? Like, it was literally that. I sat there at, like, 03:00 in the morning. Like, should I have one more? So Oh my god. There was that. That was terrible. I was surprised that it wasn't as bad. I thought it'd be a lot worse. The alcohol's been worse because I've given that up as well, and that's been, like, a month. Wow.
That's been the hardest because everyone around me is drinking. And, like, that's the one where it's like, it's been a long day. Let's just, be nice just to have Mhmm. Just have a little drink. Just unwind. That's the ritual of, like, go and pour yourself a whiskey or go and pour yourself a wine or the sun's out or have a beer or something like that. That's like a nice little ritual. And there's no real replacement. I've tried the, what's it called, like, nonalcoholic beers. They're fucking shit. Like, I trick myself into it for the first sip, and I'm like, oh, yeah. That's not bad. And then about five seconds later, I go, this tastes like carbonated water.
This is putrid. Like, this is the worst. This doesn't do anything for me. I don't like it. And I've tried the fake wines
[00:07:48] Unknown:
shit. You're not a big beer drinker, are you?
[00:07:51] Unknown:
Not really. I'd have, like, one in the sunshine, but it'd be more like rum or whiskey
[00:07:57] Unknown:
or wine. That would be my kind of Yeah. And the the alcohol free versions of those are all garbage.
[00:08:04] Unknown:
Absolutely pointless. I don't think they even do an alcohol free version of whiskey and rummies and stuff. Like, I don't know. You have to, like, sniff petrol or something, but that's the harder that's the harder bit.
[00:08:15] Unknown:
The only two I found that I like the taste of or can tolerate the taste of would probably be more accurate is Heineken. They do a pretty good non alcoholic beer. Tripepper. Weirdly, Guinness, but only non draft. I've had when I went to the last time I went to Ireland, I was we had, like, a late flight home and I had to drive when I got back to the other side. So had a few normal Guinnesses, and I was like, oh, you know, I don't wanna stop drinking Guinness because I like the taste of it, but, you know, I can't get pissed because I've gotta drive when I planned back in The UK. They had it on draft in this bar, in Dublin somewhere. And, honestly, you can't taste the difference, genuinely.
[00:08:54] Unknown:
You just don't get that buzzy, like I like that first drink Indeed. First drink and a half, two drinks where you just get that little, like, giddy excited, like, problems fade away for a second. You're not thinking in the same, like, repetitive pattern of, oh, I could fix this problem. Oh, that's it shuts that off. That's the best bit. That first hour of, like, drinking, there's nothing really that replaces that. Especially now that I'd I haven't smoked weed in years, that fucking does nothing for me anymore. Absolutely. There's no benefit to me ever smoking weed anymore, and that was the only thing that used to like, I didn't drink for years when I used to smoke weed because I was just like, oh, I'll just have that. I don't need to drink. Mhmm. But now it's just like, I'm much better off not having it because it just fucks with my head.
[00:09:44] Unknown:
Really does seem to be quite a more common thing these days of people either drinking a lot less or just not drinking at all. It does. Yeah. Especially in my friendship circle as well, it's like nobody's, like, giving up, but, like, everybody's drinking a lot, a lot less. And I don't know whether that's just because we're getting older, but even in the younger generation here, I know I know a few Gen Zers and, like, they are boring bastards. Like, they never drink.
[00:10:06] Unknown:
They just do Coke or, like, fucking meow meow or whatever bullshit they do.
[00:10:12] Unknown:
Yeah. Probably.
[00:10:14] Unknown:
Probably. I don't know what they do. Anyway, enough of the coffee,
[00:10:18] Unknown:
abstinence talk. How's things otherwise all good before I go into to what I've been up to?
[00:10:23] Unknown:
All good. Yeah. All good, mate. What about you? Pretty good weekend.
[00:10:27] Unknown:
Hot off the back of a weekend in Manchester at Bitfest Oh, yeah. Which turns out was at the same hotel as the very first conference that you and I both went to in The UK. Do you remember that that hotel, Pendulum Hotel No. In Manchester? It was for, we met up with a few of the samurai gang there. What was the name of the coin fest?
[00:10:50] Unknown:
Do you know what? I don't think I actually ever went there. You must have been thinking of someone else who's really funny and good looking. Maybe. Yeah. Could be brother Rabbit, maybe. Maybe he was Yeah. Probably that sounds about right. Because, I try and stay away from Manchester if I can. Fair enough. I can't say I blame you.
[00:11:08] Unknown:
Really good weekend. Nathan Day, Nind and co put on a an absolutely wonderful conference. Probably, I don't know, maybe 250 people there tops. Okay. Great amount of people. The venue, there's, like, one main stage and then a couple of side rooms where there was, like, a a workshop stage, which was really small but, like, 30 seats. And then, like, a a demo area as well where coffee and the Ellen bits people and a few other tinkerers had, like, little tables set up where you can go and play around with nerdy stuff. Just had a great weekend. It drew a great crowd. The first day was a Nostra Shield day on the Friday. Saturday and Sunday were Bitcoin focused days. I was only there for the Saturday at the family commitments to go to on the the Sunday, unfortunately, so I've missed that. But, yeah, it was on two panels, one on the Nostra Day on Friday and then one on privacy and OPSEC on the Saturday as well. Got to meet some old faces and put some faces to to new NIMs that I'd not met before. So, yeah, it was a very good weekend by heart, and I would definitely be heading out there next year as well if Nathan and the team plan to put it back on again. It was it was really good. Really good. Well done, Nathan.
Well done. He probably won't mind me saying this, but, he looked tired. You know, we we like to wax lyrical about the fact that we got a lot on our plates. Like, he looked like his plate would been overflow for quite a few weeks. So, Nathan, if you're listening to this, I hope I hope you've had a few whiskeys or whatever your tipple is and and maybe a few good night sleeps because I know you're a nerdy riser like me. So, yeah, you need to, get some r and r, mate, because you look like Take a little a relax. You know, the thing is, though, he's not a million miles away from Ben Gunn, and I know he does sometimes have to see that bloke, and that's incredibly tiring. So it could also be that. Yeah. I mean, if you don't need to lock yourself in a dark room after organizing a conference and running b to c map, then you definitely do after a weekend with Ben Gunn.
[00:12:57] Unknown:
Just a phone call. Just a phone call. Oh, get a fucking wet flannel. Put it over my eyes. Let me just sit in the dark for a minute and just fucking recover here.
[00:13:06] Unknown:
Yeah. Indeed. Indeed. I I also got to meet Rick Messett, who if you don't know who he is, he worked in some shape or form with the guys from the Bitcoin way. I think he's he does marketing for them. Oh, yeah. Yeah. But he's also the guy that tragically had his whole entire or his and his dad's entire stack stolen maybe last year or the year before to the tune of, like, 25 Bitcoin. Yeah. Yeah. Yeah. He was very public about it. He's very open and honest, and, he seems to be in or on the fringes of a lot of the the privacy circles as well that you and I kind of mix in as well. You I always see him retweeting samurai favorable content and things like that. So pretty well aligned. So it's good to meet him and shake his hand and have a chat with him. He was on the op second privacy panel I was on on the Saturday. He also did a talk, which was absolutely fire, by the way. Like, if you go and watch any talk, I'm presuming that they're filmed and they're gonna be put up on the Internet afterwards. Nathan, if you're here listening to this, please confirm that in the comments. Rick did a talk where he basically just chat on British culture and British politicians for about half an hour. It was hilarious, like, very close to the what's the word? I guess, close to the wood comments and things like that that I'm sure if the powers that be were there, they would not have been laughing as much as everybody else in the audience. That was very funny.
But at the end of his his talk, he talked about or he announced a prize draw, which I thought was very interesting, and I wanted to mention it briefly. The link will be in the show notes here. But basically, it's to raise funds for a free speech organization, which is the name is eluding me now. I'll find it and just make sure it's in the show notes. But, it's a provably fair lottery, essentially, where you can buy tickets in Bitcoin or Lightning, obviously. And 50% of the winnings, the collective winnings, go to the random winner. I'm gonna come on to that in a second. And then 50% of it goes towards supportive free speech initiatives, essentially. The reason I wanna mention this other than the fact that it's going to a good cause is how they've done it. Basically, when you buy your tickets, you give them a Bitcoin payout address, and you can buy as many entries as you want. They wait till the deadline that this is finished. I believe it's next week. And then they will publish all of the entries, time stamp them in the Telegram room and in the website. Again, link will be in the show notes. And then Bitcoin, essentially, the Bitcoin network chooses the winner. So you might be thinking, how the fucking hell does that work? So, basically, what they do is after they've done the timestamp, they take the block hash of the next winning block, which as we know is completely random and decided by, well, the network and the the miner that, mines the successful block.
And then they divide that by the number of entries into the competition. Inevitably, that will not be a whole number, the result of that block hash divided by number of entries. So whatever's left after the whole number, as in the remainder, that line number is the winner of all the sats or 50% of the sats of the pot, essentially. And, obviously, because this is all driven by Bitcoin and the block cash and they publish and time stamp the number of entries, if you're a a participant, you can go and verify all of their maths and check that they're not picking a a non random winner to steal all the funds for themselves. And all of the the organizers for this, I don't when I I say all. I know Rich behind it. I don't know if anybody else is, but they're not taking any fees for this whatsoever. So it's fifty fifty split between the free speech initiative and the winner. Again, all provably.
[00:16:31] Unknown:
How do you know that they've put the correct not that I'm throwing shade on it or think that they would do this, but how do you know that the number of entries is correct? Because I could see how you might be able to do it if everyone's paying on chain. But if people are paying via Lightning, how would you prove the amount of entries is correct?
[00:16:52] Unknown:
You'd only be able to verify your own input, I'm guessing. When they publish the list of entries, you'd be able to go and verify. Let's say I did 10 entries all with my payout address. As long as I've got my 10 entries in there, that's the only thing you can verify as an individual, isn't it? Yeah. But what I'm saying is you couldn't verify that
[00:17:12] Unknown:
they've actually left it without interfering because you couldn't know how many entries there are in total, and that's what they use to divide the number by, which means it would be open for fuckery. I'm not sure I follow. You were saying they take the next hash, they take a number, and then they divide that by the total amount of entries. Correct. Yeah. And so what I'm saying is you can't know what the total amount of entries are. Correct. Therefore, they could put whatever number they want in there that might suit them better. Oh, you mean that they could just, like, the thing with all of their own addresses?
[00:17:49] Unknown:
Yeah. I guess that's true. Yeah. But we don't think that they would do that, and he seems like a nice guy, and I'm just being a twat and just, like, trying to find a flaw in a system, but just yeah. It is a cool initiative. Here we go. We published this is from the FAQ. We published our full list of entries so you can validate this for yourself in the following ways. Validating lightning entries. You can verify that every lightning entry was legitimate because our published list of entries contains an l n invoice ID alongside each associated payout address. Using our Lightning node ID, you can verify that every entry made via Lightning corresponds to a paid Lightning invoice to our node, preventing anyone from stuffing fake unpaid entries into the drawer. Here's our Lightning node ID. You could also enter on chain via opt return. Very, on trend at the moment.
In prize draws where free entries are available via opt return, you can verify that each of these entries is legitimate because our published list of entries includes the TX ID of each free entry and the hex code that the entrant needed to include in the op return. By scanning Bitcoin's blockchain, you can verify that TX ID did include an op return with a valid hex that was included in a block that was confirmed before the winning block. Okay? I mean, it seems like it's not a 100% foolproof as you've pointed out, but a good initiative nonetheless.
[00:19:02] Unknown:
Yeah. Very good initiative.
[00:19:04] Unknown:
I like that. Yeah. I think that's it for the Bitfest stuff. Just good to catch up with old friends and meet some new ones. Foundation stuff, we've sent an email out last week chasing people for any address updates. We appreciate it. It's been quite some time since you guys might have placed your preorders. So please just double check the address that's on your order confirmation. Check that it's still accurate. And if it's not, please reach out to us ASAP so that we can get those updated to make sure that we don't send your prime to the wrong address. But, yeah, pretty close now. I don't wanna put any dates on it because we've fallen cropper to that a few times. The fact that we're asking for address in things like that is indicative that we are significantly closer than we have been in the recent months. Also, I've done a quick, two FA app demo video. Again, linked in the show notes if you wanna go and have a quick insight as to how the the two FA app can work on your Prime. I demoed it using a a Discord account to show you how easy it is to set up. I'm sure most of the listeners are familiar with two f eight, not necessarily specifically within, the Prime ecosystem. So, go check that out as well. Very nice. Right. Onto the news, mate. Another samurai update. This time, we have the second sentencing. We covered the sentencing on the last show of Keone, who got five years plus some additional ridiculous onerous add ons as well, such as stealing some of his income while he's in prison and for quite some time afterwards as well as a fine. Well, since we last recorded last week, a samurai wallet developer, William Hill, has been sentenced to forty eight months in prison with three years on probation and a $250,000 fine in a New York courthouse.
Yeah. So not the news we were all hoping for, but I guess probably the news we were expecting, particularly after the first sentencing when it took a genius to know that something similar was coming down the pipe, unfortunately. The rage article that I'm reading from, again linked in the show notes, mentions that Hill must self surrender to start his prison time on January 2. So a little over a month away, unfortunately, before that begins. Yeah. I'm not gonna go into some of the details here, but, needless to say that not the result that any of us wanted to. And, unfortunately, due to the fact that the guys understandably took up a plea deal here that they they are unable to appeal against any of these sentencing. So the final hope that we have for these two freedom fighters is essentially a presidential pardon similar to what happened to Ross, and we all know how long that took to happen. So in the show notes, there is a change.org link that is titled stand up for freedom, pardon the innocent coders jail for building privacy tools.
If you do anything useful with your day when you're listening to this, please please please click that link, head to the change.org link, and sign the petition. It doesn't cost any money. It's gonna cost you sixty seconds of your time to go in there, add your name to the signatory list to try and get this in front of Trump because this is literally the last hope that the guys have to prevent them spending the best part of the next five years behind bars away from their family for essentially writing open source code, which we've covered at length how ridiculous you and I both feel that this is. They've clearly been made an example of. And the fact that all of this is going on under the Trump administration despite them posturing via multiple avenues around the fact that they are essentially not gonna do this and they're not gonna put open source developers in jail where they followed the guidelines and they clearly haven't, broken what they deemed to be any laws. They follow defense and guidance, etcetera, etcetera. And I know I'm repeating myself here, but the insanity of this just it's still not lost on me, and I'm sure I speak for you there as well, Max. So Yeah. Please, guys, just head to that change.org link. It'll be in the show notes. You'll find it on my Twitter. You'll find it on the ungovernable Twitter, socials, everywhere.
Head there. Please sign a petition. We're currently at a measly 1,918 signatures at the time of recording. So we're we're not even moving the needle yet, so we need to work a lot harder to stand any chance. What do we need at least a 100,000
[00:23:04] Unknown:
signatures, isn't it?
[00:23:06] Unknown:
I don't know if there is a threshold before it gets shoved under Trump's nose. I don't know how it works, to be honest with you. I know the 100,000 number has been banded around. I don't know whether that's what the trigger is. I've never dealt with any of this sort of stuff before. But, yeah, honestly, if we can get anywhere close to a 100,000, it would be wonderful. So, yeah, please just head out there and and click that link and just, show your support. It doesn't cost anything at all. Yeah. And, also,
[00:23:32] Unknown:
share the podcast it was on recently.
[00:23:35] Unknown:
Share things like that far and wide. Thank you for that. Yeah. That well, that's actually coming out tomorrow, Tuesday, November 25 on the John McAfee Twitter Spaces, but I'm sure it'll be a recording as well. Obviously, this will be released after that. So, yeah, go back and listen to that. If you go to the John McAfee Twitter account, I'm sure you'll be able to find it from there. I don't wanna say I'm looking forward to hearing his side of the story because I'm sure we all know what he's thinking and feeling Yeah. Or have an idea. But I'm glad he's willing to come out in the public after everything that he's gone through to talk about this, and hopefully, it'll help garner a few more signatures at at the very least. Who is the lady he did an interview with maybe, like, a week ago? It's the one that's already out. Yeah. I can't remember her name now. She was, like, some news anchor y type person.
[00:24:18] Unknown:
Oh, Kim Iverson. That's it. I've just found it on his Twitter account. So Jordan, if you could pop that in the show notes, that'd be great, mate. Thanks. Yeah. Kim Iverson. And I think, you know, she's got quite a big following, so shout out to her for having him on and raising awareness for this because it's all well and good, us speaking in our circles about this kind of stuff. We have a following on this show, but it's just like all the people that we speak to on Twitter and the, like, freedom focused people. It's not that many just normies jumping in.
[00:24:47] Unknown:
So going on that type of show and getting new eyeballs on it and getting people to hear how insane the situation is. And also getting to see and hear from him to see, like, this isn't a fucking criminal. This is a good guy, a family guy. Someone who you'd happily spend a day with and have a drink with, and he's a good person. So I think that is something that can help because it's easy to paint these guys as criminals and bad people and for people who are ignorant to the software and how it works, which is pretty much everyone. It's easy to get away with lies. Yeah. Certainly is. Especially when you're speaking on behalf of a three letter agency, if, you know, a faceless entity. The the normies, you know, lap up that sort of stuff. It's been an uphill battle from the start, and it's really not gone the way anybody in the industry wanted to see it go. And, I just hope that they can stay as strong as possible. And it's it's great to see that they've been strong enough to be public facing given that they've got a couple of weeks left with their families for the next couple of years. It's heartbreaking to see. And I'd actually seen those clips of him and I thought they were teaser clips of the podcast that's due to release tomorrow on Tuesday. Obviously, that's a separate one. I I've realized that now, so I'm gonna go and dig that out myself afterwards. And and, again, that will be in the show notes. Before we move on, PSA around the change.org link as well that we mentioned for the samurai guys to show your support.
There is a box or a field in there where you can donate some cash. Please do not use that link. All of that money goes to change.org to support them. It doesn't go directly to the guys. If you want to donate directly, there is a website. I think it's billandkionae.org. Again, that will be linked in the show notes. If you wanna go and support them directly, please do that. Next on the list, more not great news, unfortunately, but it's an update on the Roman storm tornado cash case. The government essentially has come out last week, I believe, after he was found guilty of conspiring to operate an unlicensed money transmitter earlier this year. Last week, they have essentially come out and filed their opposition against acquittal, basically arguing that Storm's motion for the acquittal should be denied because Tornado Cash did, quote in here, transmit user funds, a finding which appears, as we've said many times, at odds with the FinTech guidance that we've spoken about many, many times. The opinion of senior FinTech employees, the opinion of members of congress, and the DOJ itself. So, again, it just really paints a picture of how the levels of insanity that are being used to basically just ram this through the courts and get these, open source developers locked up, essentially. Mhmm. Storm's conviction on the money transmission charges have been widely contested by many people. Loads of people have been referring to the FinCEN guidance as they have with the samurai guys, which clearly exempted noncustodial services from these money transmission laws because they don't hold user funds or transfer on behalf of the public. But there's a quote here from the government. The jury reasonably concluded that Tornado Cash transferred funds.
Another quote, for Tornado Cash deposits, the user interface merely reads the blockchain and does not write to it, the government said in describing the software. According to the defendant, this means that it is the user's wallet that conducted transactions on the blockchain, which the prosecution finds both factually wrong and irrelevant. So very dismissive. And, yeah, this isn't strictly speaking news, to be honest. It won't be a surprise that the government thinks that the acquittal shouldn't be honored or or even be considered. But, yeah, it's just a further update as to the fact that they are not letting up despite all of the the posturing that the Trump administration has had around free speech, and we're not gonna jail open source developers, etcetera, etcetera. If you wanna read the full, details, there's a a great rate article on this linked in the show notes as well. Next news item. There's a lot a lot of doom in news here. I I do apologize guys, but it's all it's all current. It's all relevant, so gotta cover it. News coming out of Bangkok last week. The police there have arrested a 46 year old South Korean man accused of working with three Thai nationals to kidnap, assault, and rob a Chinese man of more than $10,000 in cash and cryptocurrency earlier this month. The suspect identified only as Lee denies the charges and claims the victim owed him money.
Wow. The 35 year old Chinese victim told police he was waiting for a taxi on Mahasath Road on November 1 when three men, two Thais and one South Korean pulled up in a Toyota sedan, punched him in the face and forced him into a vehicle. He said that he was taken to an underground parking area, an unknown location where the group beat him, stole 50,000 baht, which is about $1,500, from his bag, and forced him to transfer 9,375 USDT in digital currency to an account linked to the accused. Low on information as to how these attackers knew to target this man, although I could make some educated guesses as to the fact that he probably been public about the fact that he's maybe got some money. The reason I include this doomer shit is just a stark reminder that keeping your gobshot is a superpower, and you should leverage it as often as you can. The fewer people that know you have wealth in any form, doesn't matter whether it's cryptocurrency, but especially with cryptocurrency because of the fact that, you know, there are no refunds then. Yeah. Keep it to yourself or keep it to between you and your loved ones. These attacks are becoming far too frequent, unfortunately.
[00:30:03] Unknown:
Yeah. Wouldn't it be good if there was some open source developers who created software that could in some way protect people from these type of attacks by obfuscating where they had purchases
[00:30:14] Unknown:
and breaking links to any dangerous KYC information they might or might not have had to put in to acquire those coins. That would be lovely. It would be great. Yeah. It's almost like they would almost be like doing everyone a favor and helping people and creating a public good. Yeah. It would. It would certainly help. I mean, it isn't gonna erase the the KYC traces on the exchanges, which, if I'm being honest, is most of what drives these types of attacks other than people just being stupid and too loud on social media. That would be a a world I'd like to live in if that software existed. Mhmm.
More doom and news. This is an update on something that actually happened last year, but these court papers have now come out and provided more details. A 35 year old Hong Kong man has been sentenced to seven years in prison after a home invasion in which a gang of attackers traumatized the British Columbia family with beatings, waterboarding, and sexual assault while stealing some 2,200,000.0 from their crypto accounts. The guy whose name I'm not even gonna try and attempt to pronounce Poynter Poynter. Was sentenced by a British Columbia court on November 14.
The court papers revealed that on the evening of 04/27/2024, the family answered a knock at the front door of their house revealing two men dressed in Canada Post uniforms and wearing face masks. They said they had a package that required a signature. When the family's daughter, a student, went to get her father, the men entered the house and were followed by two more, all wearing gloves and masks. They spoke in Mandarin, Cantonese, and English, and referred to each other only by numbers one to four. The intruders restrained the family members, pushing their heads down and binding their wrists with zip ties. They then took the family's cell phones and laptops and demanded passwords, threatening to kill them if they were not provided. One had a firearm or an imitation firearm. The home invasion lasted thirteen hours, and then there's some more horrifying stuff that I'm not even gonna read out. It got worse. Terrifying.
Yeah. It really is terrifying. There's a couple of pundits on Twitter that have read more into the details here, and, apparently, one of the guys was quite public. I I can't remember his name now. Not somebody that's in the traditional Bitcoin sphere, but he was quite public about the fact that he was wealthy, and he had a lot of Bitcoin and crypto. So, again, the reason I include this is horrible as the report is, and if you're interested to to read it all, there's a MSN news link in the show notes if you wanna read all the gory details. But, yeah, again, it's just a reminder that stop talking about the fact that you've got Bitcoin on Twitter, particularly if you've got significant amounts of it. And I guess even if you don't talk about it, but if you've got that level of wealth, then you probably shouldn't be keeping the access to it in your house. Like Yeah. Definitely not. If you're talking upwards of a million dollars, you probably should be looking at something more advanced like Multisig, etcetera. I know I'm critical of Multisig, but in this scenario, a geographically distributed Multisig could have potentially
[00:33:06] Unknown:
protected their funds. Obviously, it's not gonna stop the trauma that the family would have went through, but it would have raised the bar rather than just giving them a password to a laptop to extract all of the funds. Yeah. I don't think you're that critical of multisig. I think you're just making the point as a general rule, as would I, that most people who are using it may not need to. It might be overkill and, like, overcomplicating things. But most people don't have anywhere near that type of money. You see people setting up multisig, and they've got, you know, half a percent of their wealth or something like that Mhmm. In it. And then you might say, okay. Maybe this as someone who's not that heavily invested and maybe doesn't use this technology that often. It might be overkill, and it might be overcomplicating
[00:33:49] Unknown:
things. If you're walking around, you have that sort of amount of money, don't be having that accessible. That's crazy. I've just found the fantastic summary from Bit Norbert on Twitter. Bit Norbert was one of the the great journalists that was covering the McCormack and and Wright case. I'm I'm gonna read this entire kind of summary verbatim because he's gone into the details because it's a great summary. He started off by saying horrific. Well, so here's some takeaways from the court report on how the family became a target. The attackers, quote, knew a lot of information about the family and their assets. The husband, quote, stored his and his wife's cryptocurrency on exchange accounts. He, quote, has boasted and exaggerated about his success with cryptocurrency investments, causing the attackers to initially demand 200 Bitcoin.
He had, in fact, lost a lot to a scam in 2018, and the attackers believed this because they had done enough research to know that he had been defrauded in the past. My takeaways, security is about friction and inconvenience, do not have convenient access to significant wealth in your home, And number two, shut the fuck up about your money. Very well succinctly put. Couldn't say it better myself. You're on mute, by the way.
[00:35:00] Unknown:
I was just saying, yes. Agree.
[00:35:04] Unknown:
Alright. Let's have a little break in the Duma stuff for a very brief snippet of something nice. Yeah. We have another Bittax mining a block. Very nice. Block number 924569, which nice, by the way. Which was mined over the weekend. I saw this as I was, sat listening to a a panel at Bitfest, has been mined by a Bittax. As always, with these, there tends to be some more information that comes out after the fact. In the days that follow, the miner was using solo c k pool, and it turns out that they had approximately five bit access going based on their hash rate. Nobody's publicly come out and claimed it. Good. Keep it that way if you're listening Better. Lucky winner.
But, yeah, again, I love stories like this. It's like the little man winning because five bit p x is is is not a lot of hash rate at all. No. They've they've spent, what, less than a thousand dollars on mining equipment and just netted themselves, you know, 3.25 plus fees of Bitcoin. Congratulations, whoever you are. Very nice.
[00:36:01] Unknown:
Yeah. That's cool. I love that. Back to the doomer stuff.
[00:36:05] Unknown:
Fucking hell. Otto well, that's not really doomer stuff, I guess. It's just somebody being stupid. Otto Otosh on Twitter posted a tweet I think this was only last night or over the weekend. Basically, somebody has just sent and subsequently lost 0.84 Bitcoin or $71,000 at the time of writing that was sent to an address that had a non random private key. The private key of this address is the ID of the coin base of the second block in the entire Bitcoin history. Do you understand that, Max? Does Does that make sense, or do you want me to recap it? Yeah. What I I lost you on that last little bit. It's the ID of the something of the what did you say? So, basically, somebody has created a a private key to a Bitcoin address using the block hash of block number two. Oh, okay. I get you. Which is, like, a stupid thing to do, obviously, because it transpires that people bots have done the same thing and are watching any addresses that are associated with weak private keys like that. Yeah. Yeah. There was a replaced by fee war, between multiple bots before a winner was found. I don't know how much the bots ended up with in the end.
Obviously, we don't know why somebody's done this, but, unfortunately, they've lost the best part of a full coin. Probably
[00:37:26] Unknown:
trying to be clever. It's always trying to do something outside of the standards. Like, the tried and tested ways is is generally just not a good idea unless you are extremely competent with this kind of stuff. And even then, I mean, probably just don't do it. Probably generate your keys on decent hardware device and have a passphrase and don't do anything clever or silly.
[00:37:51] Unknown:
Yeah. I mean, the fact that it's a block hash of block number two tells me that this isn't somebody, like, fumbling around with a hardware wallet or something like that, trying to be clever. That this is somebody that knows what they're doing, but knows enough to be dangerous, but not enough to be safe, I guess, would be a a succinct way to put it. Yeah. Very weird situation. If we get any more news or updates on it, I'm sure we won't because if that was me, I wouldn't own up to being that stupid and losing that much Bitcoin because that's, a lot of money. But, we'll we'll keep you up to up to date if that does come out. And then last one on the list, Jordan showed this under my nose about half an hour ago. This we talked about prediction markets on the on the last brief. Somebody set one up as to whether or not Start Nine is gonna give us a Christmas surprise Cool.
And release public beta 0.4 of their OS on or before Christmas day. I don't know why Jordan wanted to throw this under my nose, but I guess if you wanna bet on this, then you can, take the over under. Currently, it's sitting with five people betting on it. Total of 5,250.00 sats, so not a lot of liquidity with a 33% likelihood.
[00:38:59] Unknown:
That it does get released?
[00:39:00] Unknown:
That it does. Yeah. So it's not looking promising at the moment, but there's only five people that have got involved yet. So could be an easy way to It's probably Jordan throwing it under your nose because he's done a lot of work in that kind of Start nine ecosystem. And he's got some alpha. So he's, he's playing the bookies, and he knows it's coming out, and he's gonna try and double down. I see you, Jordan. Yeah. We see you.
[00:39:23] Unknown:
Yeah. He's, he's he's done quite a lot of work with packaging things for start line, so that's my guess. Yeah. Indeed. Indeed. Well, if you have got any more insights where we can, make some more money, Jordan, keep us in the loop. Yeah. Let us know. Always let us know.
[00:39:37] Unknown:
Right, mate. Let's hit the boost, shall we? I'll let you go first.
[00:39:40] Unknown:
Late stage huddle with 6,006 sets just puts a little, horse and a robot emoji. I think that's probably Shetland pony and robot.
[00:39:51] Unknown:
Well, I just realized that that was from the previous show, and I didn't delete it from the list. So late stage title, thank you. That that's two thank yous for your boost for across two shows. So we appreciate you. Yeah. Thank you. The highest booster for the last brief was actually mister Chad Farrow with 6,969, nice, sats. And, he said, never let great numerology go to waste. And he's put put in a nice little video there, which again will be linked in the show notes if you wanna go and, watch that one. Late stage HODL
[00:40:21] Unknown:
again for this episode with 6,006 SATs. This reminds me of a story someone once told me about the worst beer he's ever had. It was pretty good. He's always said that if he's buying, then he wants what he wants. But if someone else is buying, then he's not picky. Free samurai. Interesting. It was alright. It was pretty good.
[00:40:44] Unknown:
It was alright. Yeah. Chad Farrow again, March. Pod home gets my full endorsement. At Jordan, hit me up when you guys switched to Pod home and started adding the new podcasting two point o features like Chapters. That actually brought me back to the show because I stopped listening to Bitcoin podcast altogether. Glad to be back and really enjoying seeing Max on Govenable growing his media empire over the last year or so. Well, thank you, Chad. Thank you, Chad. Yeah.
[00:41:11] Unknown:
He's,
[00:41:12] Unknown:
very in the know when it comes to all this kind of stuff. He is mister podcasting two point o. I see him on the roster quite a lot talking about technical stuff that goes way above my head, but I'm I'm bullish that we've got somebody like him behind that and pushing the envelope. So keep up with the work, mate. We see you. Definitely. Also an endorsement for Pod Home. I said it last time, but if anyone is considering starting a podcast or, like, having the best tools available to them and they're already running one,
[00:41:39] Unknown:
I really can't recommend it highly enough. You know the issues that we have with almost every other bit of software and just constant issues with everything, but it's never let us down. And just constant being able to suggest changes and Barry just steps in and just does it. It's
[00:41:55] Unknown:
pretty special. Love to hear it. Pies.
[00:41:58] Unknown:
Hey. With a 121 sats. Salute, mushroom, strong-arm.
[00:42:05] Unknown:
Thank you, Pies. Nosta Gang with a 101 sats, still gang. Thanks for for stopping by on the recordings as well as the live show's Nosta Gang. We see you. Thank you. And w with a 101 sats.
[00:42:18] Unknown:
Stout is a subcategory of beer. Beer includes ales and larkers depending on the brewing process, which can be broken down further into groups like stouts, porters, sours, pilsners, IPAs, etcetera. Like how bourbon and scotch are both whiskeys, and whiskey, vodka, tequila, and gin are all spirits. If you wondered, cheers. Anyway, yes, he can buy you a Guinness. K. That's like a little Wikipedia page.
[00:42:49] Unknown:
I feel like whoever w is, I'm gonna go out on a limb and say that they're probably a brewer of some sort. I think maybe. Yeah. Well, we appreciate the info. We were talking about well that Ian sent a boost in, didn't he? Ah, yes. Offering to if anybody's going to Bitfest that he he would buy us a did I take him up from that? No. I didn't, actually. I think I was about to go on stage or something like that when he when he offered me one boost. It was good to meet him. I I got to meet him, Jake, because I'd have quick chat with him as well. I also met Pickle Rick as well who's in the chats. Good to to see his him face to face as well. He did, in fairness, also offer me a beer, but, I was I think I was about to leave at that point. But, thank you guys. Good to meet you. Oh, also, talking about Guinness, I'm heading out to Ireland this weekend to to drink some of the proper stuff.
Cannot wait. Nice. That's why we won't be seeing you on Friday then. It is indeed. Yeah. I've got a double header this week. I'm I'm heading up to the mountains with the wife on Wednesday for a couple of nights and then flying out to to Dublin on Friday to meet the boys for a few pints of the black stuff.
[00:43:51] Unknown:
Very nice. Very nice. Well, don't worry. Me and Seth will hold down the fort while you go and drink some pints. Nice. Well, you did a sterling job, last Friday before I showed up very, very late, so I would appreciate that. Thank you. Yeah. With a questionable story, and people in the comments did not believe the story. They were they all boys a bit suspect.
[00:44:10] Unknown:
They were all calling bullshit. But, like I say like like I said on the stream, I've got I've got a room full of 200 people looking vouch for me. Finally, BTC on board with a 100 sats that gave us two thumbs up. Thank you, BTC on board. Alright. Last part of the show, software updates and releases. Oh, by the way, Max, did you fix the links? Could you read these now? You mentioned something about BlueWallet not working. The link specifically, not the wallet. I can open the links. Okay. What I was saying, though,
[00:44:39] Unknown:
is using BlueWallet and putting my VPN in different locations, no matter where I was, I couldn't see the Lightning option. And they've done a tweet yesterday
[00:44:50] Unknown:
Ah, okay. Saying
[00:44:53] Unknown:
Lightning's back, basically, and then a screenshot of create new wallet, single signal, multi signal, Lightning. And then everyone was saying either, oh, I can't see it or the answer was, oh, yeah. Just change your location. It's not available in America. But I tried The UK. I tried Switzerland. I tried America. I tried I tried all sorts of different places, and I couldn't see it. So that was my question. Okay. I thought you were talking about the links to what I'm gonna talk about in the show. No.
[00:45:22] Unknown:
No. They work. That's why you got a perplexed answer back from me earlier on. That makes a lot more sense now. Okay. Well, to let the listeners know what the hell give you some context, BlueWallet has teased that they are adding back Lightning to the wallet. The reason that you couldn't access it, Max, is because I don't think it's out yet.
[00:45:41] Unknown:
Okay. Fine.
[00:45:43] Unknown:
That would be why. Yes. The tease is that they are doing so using ARC, which we've spoken about quite a few times on on the recent briefs. One of the great things about the old BlueWallet, Lightning I say great. Oh, well, it was great. The user experience was excellent. And the reason for that was it was custodial. Yeah. Yeah. They made it easy, obviously, with huge trade offs. The fact that they're adding this back in now after subsequently getting rid of the custodial option for obvious regulatory reasons is that I think knowing how they do UX and stuff, like, this feels like it's gonna be as easy as it was in the custodial world without the, significant trade offs of it being a custodial approach.
That's just me guessing. I've not tried it. I've not got any alpha there. My name's not Jordan, but I I'm looking forward to them releasing that. Also speaking of BlueWallet, they have released a new release, pretty big one. Version seven point two point two is now available for iOS and Android. A main feature is Taproot support. So you can do hierarchical deterministic Taproot hot wallets to use all of the usual stuff, send, receive. You can make watch only wallets. If your hardware wallet supports Taproot, you could also do that in BlueWallet, and it also supports all the usual stuff like coin control as well.
[00:46:55] Unknown:
Nice to see. Yeah. Very nice. Yeah. BlueWallet is probably one of the most simple to use wallets that's out there, UX wise.
[00:47:04] Unknown:
Yeah. I would say that is absolutely a fair assumption. Next on the list, less easier to use but much more feature rich, Nunchuk, a mobile wallet a wallet. They've got a desktop option as well that I am a big fan of. They, announced well, it's nearly two weeks ago now is, annoyingly, just after we recorded the show, where they've announced Nunchuk two point o with autonomous inheritance. This is the first assisted inheritance solution that is designed to outlive the company that created it. On chain time locks enforced by the Bitcoin network, and it has dual path recovery. One for guided assistance and one as an autonomous fail safe. And the cool and most important part here, it's none. K y c. Obviously, there will be a tweet thread or a blog post linked in the show notes. They have just added basically miniscript policies for their assisted wallets where basically if Nunjucks ceases to exist, there is an autonomous fail safe that sends your funds out of that. So you have all of your stuff in a nice mini script multisig wallet with decaying stuff with, you know, friend keys, parent keys, or whatever you wanna call them. Mhmm. The Nunchuck key is also kind of automatically rotated out after a predefined time lock if Nunchuck sort of suddenly disappear. That is all enforced on chain. That would just go to, like, a single sync address that you've given as a backup? Kind of. Quote here. How does the autonomy work? We utilize a robust multisig e g two zero four for day to day security.
But when the on chain time lock expires, the quorum automatically decays from a two zero four to a one of three. This activates the autonomous inheritance path, allowing the beneficiary to claim the funds without Nunjucks involvement. So you have a two zero four in happy path. Let's say you die and Nunchuk disappears. Even if both of those things happen, your, beneficiary, as long as they've got their one key, after the time lock expires, can spend the funds. That's pretty cool. I like that. But, crucially, up until that point, like, if you continue to live and Nunchuk continue to exist, your beneficiary can't steal from you. So it literally is the best of both worlds. It's fantastic. I like that. I think that's a really slick system. Yeah. It's it's fantastic.
The only caveat to it and, again, if you're still in large amounts, this is probably trivial. But to get access to the Honey budget plan in which this is available, it's $480 per year. It is completely in OKYC. You don't have to give any personal information like you do with other similar kind of assisted services, but Mhmm. You do have to pay for the service, which, you know, I am absolutely fine with. They're a business. They've gotta make money. And when when they make products, this call that enable this kind of basically, enable you to never ever need to rely on them and still have access to your funds is great for me. Yeah. It's a lot of money, but if you consider
[00:49:47] Unknown:
the type of person who might wanna use this, they've probably got a decent amount of Bitcoin to go through these hurdles. And then on top of that, if you compare it to any fees with any solicitor, which would be like the traditional way to do inheritance, You know, you literally just, like, have a fucking email from a good solicitor, and it's that much. So I think that's pretty reasonable. And, also, like, who really trusts their solicitors? No one. We shouldn't. When it comes to this kind of stuff, when you have something on Bitcoin and it's set up in this way, like, you can be pretty fucking sure this is gonna work. Yeah. Indeed. So this is good to see. And, you know, I hope there's a a good uptake on that so they can sustain themselves.
[00:50:31] Unknown:
Oh, you can also try it for free on Testnet as well. So if you've got, you know, a couple of hardware wires lying around and you wanna test it out for free and see what it feels like in the app, etcetera, yeah, you can go and do that before you you spend any funds whatsoever. Nice. Something else been released called moneydevkit.com by a guy called Nick Slaney. I saw this over on Nosta. There's a full seven minute video linked in the show notes. It's he's quoting here to say it's the fastest and easiest way for anyone to take payments online. It says, under the hood, we're using self custody lightning, but you don't need to worry about any of that. Just install a library, paste a few code snippets, or have your agent do it, your AI agent like he did, and take payments.
And if you head to moneydevkit.com, there's a couple of demos on there as well. So if you're looking to start taking payments but don't wanna have the overhead of something like a b two c pay server, this could be a good option. It's very new. I haven't tried it. I just saw it on Austin and thought I'd mention it. It looks like it's pretty easy to do. Looks like they have a pretty punchy pricing tier of 2% per transaction, but I guess you've gotta pay for convenience.
[00:51:39] Unknown:
Yeah. And that's not that different to, like, credit card would be. No. True. True. But it does kinda nullify one of the main benefits of using Bitcoin as a merchant. Right? You know, you're saving those two or 3%. But, again, you gotta pay for convenience. Otherwise, you pay with your time. And, also, if you're setting up a BTC pay server, you've either gotta run your own hardware and infrastructure or you've gotta pay for hosting, and hosting isn't cheap. So unless you're doing massive volumes and you generally aren't with Bitcoin, then you might actually be better off. Like, I would be better off paying 2% of every transaction that we get through for Uncoverable Misfits for clothing and stickers than I would for paying the Luna node that we're currently running. Interesting. Because we don't do massive volumes.
[00:52:24] Unknown:
So that would actually work out cheaper. Yeah. Yeah. Yeah. Makes sense. Maybe it's worth exploring. Yeah. Get Crown on it. Okay. Last one on the list, the Bull Bitcoin guys been shipping quite a lot recently. We talked about their wallet announcement on the last brief. And since then, they've also announced RecoverBull, which is a terrible name, but it's an encrypted Bitcoin wallet backup protocol. Once again, lengthy blog posts, very technical blog posts linked in the show notes with an accompanying video, I think, from Francis. But the TLDR here and I'm I'm keen to get your thoughts on this, especially as it pertains to maybe as a competitor to Magic Backups within our ecosystem at Foundation. But jump in if I lose you at any point, but I'm gonna attempt to tell you how it works.
So it's a two part backup system for your hot wallet, essentially, on your mobile phone. The seed words are encrypted and saved as a file, and you can store that file wherever you want. ICloud, Google, local, whatever. Yeah. And the decryption key needed to decrypt that file and access your seed words is stored separately on a recoverable key server. So a a server controlled by all Bitcoin, essentially. Mhmm. On that server, you choose a simple password or PIN, and that password or PIN is used to encrypt the backup key before it is sent to the server and then to authenticate with the server later if you need to recover. Still with me? Yeah. So the backup process, this is where I get a bit lost, but the the wallet derives a backup key using a BIP 85 seed from your hot wallet.
Mhmm. The backup file contains your encrypted seed words and your wallet metadata. And the backup key is encrypted with your password that you choose, and then it's uploaded to their key server over Tor. So the server stores it under a key ID that doesn't identify you. So there's no information required. So quick recap. You store a backup file, and the key server stores the decryption key to access that backup file, and you have to remember or store a password to get hold of that. Yes. So the recovery process to restore, you need your backup file and your password or PIN depending on which you choose. The wallet uses your password to ask the server for the encryption key. The server has, rate limiting to stop, you know, random people from brute force in your wallet. And then once you provide the correct password or PIN to their server, it's the wallet uses that decryption key to unlock the backup file that you stored yourself.
Mhmm. So it's basically a two of two encrypted backup file. You store the backup file, the encryption key is on the server, and then you have a password to link them. My take is for Hot Wallet, this is secure but over engineered because the user still has to store two things. This could be automated so that the file goes to your iCloud account or to the Google account. So let's discount the fact that and say that you don't need to store that and it's done for you. You still gotta store a password or a PIN. Right? Mhmm. So what are you actually saving here versus the magic backups that we have where your seed was encrypted and stored in your iCloud account or your Google account if you use magic backups, and then the foundation server automatically stores all of your metadata. You don't need to remember a password or PIN specifically, although you could argue that you do because it's all tied to your iCloud or your Google account. Basically, the prerequisite is that you can access your iCloud or Google account. So it's a similar sort of thing. But with the recoverable one, it's like an additional PIN or password because the users are still gonna have an iCloud or a Google account with a PIN or a password.
So this, for me, the main downside I can see is it just gives them something else to have to remember or to store. Like you say, I I feel like to me, it's maybe a bit over engineered because,
[00:56:13] Unknown:
alternatively, you could do something like Ashigaru and samurai used to do, which was like you you have your 12 words, and then you have your passphrase.
[00:56:22] Unknown:
And your passphrase is what you can use to unlock the encrypted backup that's stored on your phone. Right. But the point there is that you have to keep the seed words and the passphrase. You have to yeah. The cell here from the ball, Bitcoin guys, is that all you need to have physically is a PIN or a password.
[00:56:38] Unknown:
Well, no. Because the passphrase is what decrypts the backup. So you can just have a backup, and then you can restore from backup and just put in your passphrase. So you don't actually need to write down the the 12. Yeah. You're right. Sorry. All you're doing is you have one thing to write down and store or, you know, write down slash store in some way, and then you have your backup. Yeah. The TXT file. Yeah. You're right. Personally, I think that's quite a nice way of doing it. And then, obviously, Envoy with Magic Backups is another nice, very simple way of doing it. But I don't know. Maybe we're missing something, but it seems
[00:57:17] Unknown:
fine, but just maybe a bit over engineered. Yeah. I guess if I was to try and steal, man, the the pro argument here would be that because of the rate limits on on the server and the the fact that everything's encrypted, that you could, in theory, just choose a weaker password or PIN for the all Bitcoin server, essentially, because they enforce rate limits in. And there's no user IDs. Like, you could, in theory, afford to not have a really strong and unrememberable password True. Essentially. Yeah. Okay. I guess that doesn't stop the bulk Bitcoin server from trying to brute force it. But I guess if you're using their their wallet, then there is an assumption that they are good actors anyway. Yeah. Yeah. Yeah. Yeah. Well, they've been around for a while, but still yeah. Okay. It's not like a bad system as far as I can tell. Just No. No. No. Not at all. Yeah. The reason I've been a little bit more critical is that I'm I'm just trying to rationalize to whether this is better or worse or just different than magic backups and whether there's anything we can learn from it to improve our user experience. But just seems like a different approach here with I guess, I just can't come away from the fact that it's it's something else that the user needs, whereas we we mitigate that by tying it out to their iCloud account. But of course, that also comes with trade offs as well. So Yes. Yes.
Okay. End of the list, mate. I don't have anything else to talk about. I think I'm due a coffee after all. That's, cattle. You're not doing the decaf then? You're gonna go straight for a real, a proper one? Yeah. Not yet. Well, I haven't actually bitten the bullet and bought any decent decaf beans or or ground coffee yet. So I didn't ask you earlier, actually. You're just buying ground decaf coffee?
[00:58:54] Unknown:
Yeah. I just buy ground, and I use I always forget the name of it. What's it where you put it on the stove and you put the water in the bottom? Monka pots. That's it. Yeah. We we use one of those. I used to use a cafetiere, but since having kids, we went through, like, three or four of them that got smashed. Because anything that's anywhere that could possibly be smashed, they will find a way. And so I was like, at least when they knock that off or, like, it falls on the floor, it's generally it's okay because it's metal. Nice. Okay. So these things you gotta think about. Yeah. Yeah. Indeed. Indeed, there is.
[00:59:27] Unknown:
Oh, I forgot. Jordan mentioned about some GrapheneOS updates as well, didn't he? That's I don't know what the link for. But mainly, there's some design and UI overhauls, and it's building upon the Android 16 QPR one release, which came out in the December 18. Visual refreshes, major updates and notifications, quick settings, lock screen, launcher, settings app with physics based animations. Interesting to see what the hell that means. Fresh app components, stylish color themes, and background blur effects. Quick settings improvements, tiles can now be resized to icon only mode.
Nice. I like that. Increasing capacity from eight in a two by four grid to 16 in a four by four grid per page, also good if you're a tinkerer. And the initial swipe down view shows eight alongside notifications for quicker access. Nice.
[01:00:16] Unknown:
Okay.
[01:00:18] Unknown:
Very nice. Alright, mate. Shall we call it a day? And I will not see you on Friday. Yeah. I'll see you two weeks from today. Yeah.
[01:00:26] Unknown:
Alright, mate. Enjoy Ireland. Enjoy the pints, and I'll speak to you later. Yeah. Cheers, dude. See you, mate.
[01:00:32] Unknown:
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