Read_895 - And Then They Fight You [FFR82]

[00:00:00] Speaker A: According to the imf, increases in bitcoin. [00:00:03] Speaker B: Holdings in the Strategic Reserve Fund reflect. [00:00:06] Speaker A: The consolidation of bitcoin across various government owned wallets. This suggests that President Nayib Bukele's progressively authoritarian government may be reshuffling existing bitcoin holdings from undisclosed wallets rather than accumulating new bitcoin. A letter signed by two of El Salvador's top finance officials also confirmed the. [00:00:30] Speaker B: State has not bought Bitcoin since February 2025. [00:00:34] Speaker A: The revelation comes after El Salvador secured a $1.4 billion IMF loan, which required the government to scale back key parts of its bitcoin policy. The best in Bitcoin made Audible I am Guy Swan and this is Bitcoin Audible. [00:01:11] Speaker B: What is up guys? Welcome back to Bitcoin Audible I am Guy Swan, the guy who has read more about bitcoin than anybody else you know, and we've got a great piece. We're actually going to read one of the financial Freedom reports today and they've actually got a lot of really interesting new technical developments. [00:01:31] Speaker A: There's a number of different things that. [00:01:32] Speaker B: Have come out recently that I haven't really gotten time to talk about on the show and this FFR actually covers a number of them. So I thought this would be a really good one as well as some just kind of political news around the world because there are some more dictatorial, more authoritarian regimes that are starting to make formal legislation to really cra like to essentially treat bitcoin and treat cryptocurrency in general as an enemy. And it's going to be interesting that they're trying to build a framework as if there's some way to have it legitimate, but they are quite clearly openly attacking it at the same time. And this is kind of that weird mix of the governments are going to adopt it, but they're also going to hate it type thing that I think is going on, and it's where we've talked about a lot, is what they're going to do is they're going to attack privacy measures, they're going to attack non official, they're going to try to create all of the restrictions, all of. [00:02:33] Speaker A: The surveillance and all of the permissioned and walled gardens of the legacy system. They're going to try to place this on top of bitcoin. [00:02:42] Speaker B: So it's important to remember the context and how, what tools to adopt and how to build in order to prevent or get around this. Because as the pressure gets worse, I think the focus on these sorts of tools and solutions will become More prominent Real quick. [00:03:00] Speaker A: This episode is brought to you by Leden IO Ledn IO. [00:03:06] Speaker B: They are one of the best ways and easy ways to quickly get access. [00:03:11] Speaker A: To the fiat value of your Bitcoin. [00:03:14] Speaker B: Without having to let go of your Bitcoin. You can get a short term loan, you can easily refinance if you want to extend this out over longer periods, but it lets you continue to own your Bitcoin but get a loan backed by that Bitcoin in fully reserved custody. They do proof of reserves every six months or so. [00:03:34] Speaker A: And for a long term holder, this. [00:03:36] Speaker B: Is a, this is a really, really valuable tool. Also, don't forget to check out the Oslo Freedom Forum this coming year. I'm actually really hoping that I can. [00:03:44] Speaker A: Make it this year. [00:03:45] Speaker B: It's literally the, the world, the center of the world for activists and dissidents and freedom fighters to get together and talk about the struggles for liberty around. [00:03:58] Speaker A: The world, but also what people are. [00:04:00] Speaker B: Doing to fight, to defend the tools to use in order to ensure free speech and free expression and free trade. And this put on by the hrf, which they also do. The Financial Freedom Report, which is what we're reading today. And then for your light health, in order to control your hormones, to get them balanced, to get your energy levels right, my wife and I have gotten really serious kind of in the past year about controlling our light exposure and our blue light exposure in general. Or more specifically because I'm always on screens just because that's, you know, where I work. I got the nightshades from Chroma. [00:04:39] Speaker A: It's Getchroma Co. You can find the. [00:04:42] Speaker B: Link down in the show notes. But one of the reasons why I really like theirs specifically is they don't. [00:04:47] Speaker A: Just red wash everything. [00:04:49] Speaker B: They actually let through a tiny part of the violet spectrum which is not related to the hormones. So it won't mess with your circadian rhythm or anything. But you actually can keep some of the color depth. Plus they have a bunch of different styles of it and they have 10% off with code, Bitcoin, audible. Plus they have a number of other really cool products. And lastly, Pub Key from Synonym, that. [00:05:11] Speaker A: Team over there has been building tools. [00:05:13] Speaker B: To rebuild, to restructure the web with. [00:05:17] Speaker A: Tools that already exist and environments that we already build in. [00:05:21] Speaker B: But to get the best of censorship, resistance and owning your own content and controlling your own network. [00:05:29] Speaker A: And they're basically launching their stack by showing what can be done with the Pub Key app. [00:05:34] Speaker B: It's basically like a proof of concept in a social environment. I'VE got my pub key in the description so you can follow me or. [00:05:41] Speaker A: Shoot me a message or something up there. [00:05:43] Speaker B: If you want to build tools to fix the web, you got to check out PubKey P U B K Y. So there's no E PubKey app. All right with that, let's go ahead and get into today's read because there's a bunch to unpack and some really cool things that I want to talk. [00:05:58] Speaker A: About which we will hit in the. [00:05:59] Speaker B: Guys take to follow. [00:06:00] Speaker A: So now we get into today's article and it's titled Financial Freedom Report 82 by the Human Rights Foundation. Good morning readers. The Hungarian government has enacted one of the most repressive digital asset laws in Europe. As of July 1, trading Bitcoin on an unauthorized platform could land individuals in prison for up to five years. Running an unlicensed exchange that's up to eight, with no clear framework to comply with the law, criminalizes basic financial activity without offering legal alternatives. It remains unknown how this will affect an estimated half million Hungarians who have legally bought digital assets. Meanwhile, in El Salvador, a quiet line in an IMF progress report has cast doubt on President Nayib Bukele's much publicized buying one Bitcoin a day policy. The report alleges that the Government Strategic Reserve Fund is consolidating Bitcoin from existing wallets, not necessarily buying new coins. A letter signed by top Salvadoran financial officials also confirmed this. This follows El Salvador's $1.4 billion agreement with the IMF, further widening the gap between Bitcoin rhetoric and policy reality. While transparency remains elusive on both sides. On the Freedom tech front, Albi has rolled out a major update to its Lightning Wallet Albi Hub. The new release includes support for Bolt 12 offers, which are reusable payment requests that improve the privacy and censorship resistance of Bitcoin payments for dissidents. Additionally, we cover the native integration of Bitcoin ecash into the newly launched Bitchat app, built by Twitter and Block founder Jack Dorsey. This is a glimpse at an emerging Freedom Tech stack. Decentralized, encrypted and offline messaging meets private, permissionless bearer style money. Finally, don't miss HRF's Alex Gladstein in a new interview with Bitcoin magazine where he unpacks why Bitcoin is a vital tool for defunding dictators. It's a powerful conversation at the intersection of money, technology and human rights. Now let's get to it. Hungary enacts Repressive Digital Asset Law Hungary under Prime Minister Viktor Orban's increasingly authoritarian rule passed one of the strictest digital asset legislations in Europe. Starting July 1, individuals trading digital assets on unauthorized platforms could face prison sentences of up to five years, and providing unauthorized crypto asset exchange services could land you up to eight years. The legislation's broad language and lack of implementation guidelines have created a legal gray area where previously legal activities could now result in criminal prosecution, Forbes reports. Digital asset exchange Revolut has already halted services for its 2 million Hungarian users, temporarily freezing accounts with no timeline for restoring services. The legislation is problematic because it criminalizes basic financial activities such as buying and selling Bitcoin, while not providing a legal or compliant way to do so. It limits individuals from storing value outside traditional banking. It also eliminates an option for people who might use Bitcoin to protect their savings, support dissenting causes or escape financial surveillance. New insights reveal Bitcoin deception A new detail buried in an IMF progress report casts doubt on El Salvador's claim that it is buying one Bitcoin a day. According to the imf, increases in Bitcoin holdings in the Strategic Reserve Fund reflect the consolidation of Bitcoin across various government owned wallets, end quote. This suggests that President Nayib Bukele's progressively authoritarian government may be reshuffling existing Bitcoin holdings from undisclosed wallets rather than accumulating new Bitcoin. A letter signed by two of El Salvador's top finance officials also confirmed the state has not bought Bitcoin since February of 2025. The revelation comes after El Salvador secured a $1.4 billion IMF loan, which required the government to scale back key parts of its Bitcoin policy, including ending tax payments in Bitcoin, phasing out the chivo wallet and making private sector acceptance voluntary. While Bukele continues to tout Bitcoin as part of El Salvador's identity, the disconnect between official actions and public messaging is calls into question transparency and credibility. Gaza monetary system collapse Banks in Gaza have collapsed. ATMs don't work, inflation has surged to 240%. Nearly every branch has been destroyed or shut down. In their place, unofficial cash brokers under the control of Hamas now govern access to money. This is because most Palestinians who still have jobs despite more than 80% unemployment are paid through direct deposit into bank accounts to buy food, water or medicine. Palestinians need cash and pay up to 40% in conversion fees just to obtain it. If I need $60 cash, I need to transfer 100 to the cash broker Mohammed Bashir al Farah, a displaced father in southern Gaza said. We lose nearly half of our money just to be able to spend it. Even if citizens can get their hands on paper cash, the shekels left circulating are filthy and torn, merchants are rejecting worn bills and Israel no longer supplies new ones. Caught between authoritarian rule and Israeli airstrikes, the financial freedom of Gazans is slipping away. Belarus proposes CBDC linked system for brics at the 17th Brics summit in Rio, Belarus proposed a cross border payment system based on central bank digital currencies, aiming to reduce the Union's dependence on Western financial networks. BRICS is an intergovernmental economic organization led by the Chinese and Russian regimes. In order to improve the financial infrastructure of the BRICS member countries, Belarus proposes to consider the possibility of integrating central bank digital currency platforms as they become legally and technically ready for integration, said Maxim Rajenkov, Minister of Foreign affairs of the Republic of Belarus. This proposal is dangerous for human rights and financial freedom because it would deepen financial surveillance and censorship across authoritarian leaning regimes. By promoting CBDC based systems of a financial tool that gives central banks granular control over users transactions, BRICS likely seeks to build a cross border financial network that eliminates privacy, allows for programmable restrictions and can be weaponized against dissidents, journalists or civil society groups. Cameroon, the world's oldest dictator seeks another. [00:13:42] Speaker B: Term. [00:13:44] Speaker A: Cameroon President Paul Baya, who is 92 years old, announced plans to run for an eighth presidential term which would extend his 43 year authoritarian rule. Over the years, the country has experienced deteriorating human rights conditions, including laws to silence dissent, suppression of political opposition and mass displacement caused by civil conflict in Anglophone regions. This political grip intersects with deeper economic problems. Nearly 38% of Cameroonians live below the poverty line and the country continues to use the Sifa franc, a colonial era currency enforced by the regime. Baya's government continues to exert financial repression over the population, freezing the bank accounts of the opposition, and would be expected to double down on this tactic if he steals more years in power. Bitcoin and Freedom Tech News Native Ecash integration via Cashoo Cashoo creator Kali has integrated a native ecash wallet into Bitchat, the new Bluetooth based messaging app launched by Twitter and Block founder Jack Dorsey. Bitchat allows users to send encrypted messages over Bluetooth mesh networks without an Internet connection. Now combined with Cashew's Chaumian Ecash, it becomes a tool for very private offline bitcoin payments. In scenarios like Internet blackouts or authoritarian crackdowns, Bitchat users can exchange Bitcoin and fund pro democracy movements without cell service. One party must be online to finalize the transaction with a mint entities that issue and redeem ecash tokens, but Bitchat extends the range of what's possible. This is a glimpse at an emerging Freedom Tech stack. Encrypted offline messaging meets private bearer style money Albi Hub implements Bolt 12 support Albi released a new version of its self custodial Lightning wallet with several new features to enhance usability and privacy. Most notably, it now supports Bolt 12, enabling users to receive funds through static reusable payment requests known as offers. Albi users can generate Bolt 12 offers directly from their hub and instantly create. [00:16:09] Speaker B: A shareable payment link. [00:16:11] Speaker A: Bolt 12 offers increased privacy and better censorship resistance for Lightning transactions, an extremely helpful upgrade for users facing financial repression. The release also includes integrated swaps via Bolts, allowing users to swap from Lightning to on chain and vice versa in a non custodial way. Albi continues to make self custodial Lightning usage more intuitive and accessible for activists and nonprofits. Mempool Reduces Minimum Transaction Fee rate Mempool Space recently lowered its minimum fee rate from 1sat per V byte to to 0.1 sat per V byte, reflecting a sustained drop in block space demand as of late. And while the fee market, not the Mempool, ultimately determines what the next block fees are, many wallets rely on the Mempool application programming interface to estimate recommended. [00:17:07] Speaker B: Fees for their wallet. [00:17:09] Speaker A: Thus, lowering this threshold should allow more users to send cheaper Bitcoin transactions, a big help to nonprofits. But to benefit from this lower fee rate, existing Bitcoin wallets and software using the Mempool API must update their settings. [00:17:23] Speaker B: For users to take advantage of it. [00:17:25] Speaker A: Bluewallet already confirmed it will adopt the new default in its next release, and Brain's mining Pool also confirmed its implementation. For everyday users, a lower minimum fee rate means cheaper, more accessible Bitcoin transactions, making Bitcoin more viable as a tool for escaping financial controls, sending support across borders, and achieving financial freedom under tyranny. Electrum new release adds Nostr Submarine Swaps NOSTR Wallet Connect and Anchor Channels Electrum a Bitcoin Wallet, released version 4.6.0, introducing three major upgrades that enhance the wallet's capabilities for users who value financial freedom. First, it now supports Anchor channels for Lightning, providing users more flexibility and better fee control when managing payments. Second, Electrum added Submarine swaps over Nostr, enabling users to swap between On Chain and Lightning in a decentralized way. This makes it easier to move funds permissionlessly. Electrum now has six submarine swap providers for their wallet, all using NOSTR to advertise liquidity and fees. Finally, Electrum now supports third party plugins including nostr Wallet Connect or nwc, which allows users to remotely control their Electrum Lightning Wallet via nostr. These tools reduce technical barriers for activists and users in high risk environments, making it simpler to hold, interact with and spend Bitcoin securely without depending on centralized infrastructure. Fediment Web Wallet collaborates with Bitcoin design to improve UI and UX the Fediment Web Wallet project, developed by Harsh Dev Pathak during his Summer of Bitcoin internship, is collaborating with the Bitcoin design community to improve its user interface and user experience. The wallet is designed to help onboard new users to fediminth a federated ecash protocol that enables communities to custody and transact Bitcoin privately. Collaboration between designers and developers is important as many Bitcoin tools remain difficult to use for non technical users. Thus improving design is key to expanding access. This effort helps move privacy preserving Bitcoin technology like Fediment closer to real world usability for regions and users that need it most. Shielded CSV A new approach to private Bitcoin payments Shielded CSV is an experimental privacy protocol built on Bitcoin that enables users to send and receive payments without revealing their identity, transaction amount or network activity. It uses zero knowledge proofs and client side validation, meaning users only verify the history of their own coins, not the entire Bitcoin network. Only a small piece of data called a nullifier is posted to Bitcoin to prevent double spending where the same coins are spent more than once. This design keeps the blockchain lightweight while offering strong privacy. With the trade off of being more custodial for activists and dissidents, Shielded CSV could provide a way to move money securely and privately. However, the protocol is still in development with no live deployment yet. Early research and prototyping are ongoing. While it can operate without changes to Bitcoin, wider adoption will likely require new infrastructure such as trust minimized bridges, publisher networks and user friendly wallets. Learn more about it here. [00:21:10] Speaker B: So one of the things about where. [00:21:15] Speaker A: The development of all this is likely. [00:21:17] Speaker B: To go and I think we're seeing it also in the United States. The There's a degree of quote unquote privacy that I think is trying to be there's this facade of we're going to allow it, but they don't want to. [00:21:36] Speaker A: Everything is being implemented and structured and. [00:21:39] Speaker B: Worded in a way that they're trying to unofficially make it illegal. And this is, there's actually not anything. It's funny, there's nothing in this Freedom Report specifically that I think like really targets that. But I think it's just kind of a sign of a lot of things that are moving in that direction. Like I think what the issue with Hungary and the CBDCs, I think these are all the same issue because like the Prime Minister of Hungary has specifically made it illegal essentially for buying and trading bitcoin on unofficial exchanges. And running an unofficial exchange is illegal to like serious prison sentences for both of these like simple actions. But I think this is literally about privacy, right? This is about surveillance. This is about them being within the fiat financial system, within traditional rails or outside of it. Because what they don't want, what everybody in the legacy system. And importantly, I think it's really important to distinguish that the fiat finance like the fiat financial, the monetary system and the financial system and the political system are the same. Like this is the final boss of what bitcoin is trying to accomplish. And I think we will see. [00:23:07] Speaker A: I think we're looking still at a. [00:23:09] Speaker B: 20 to 30 year timeline to really unraveling and a never ending push and pull fight of creating new thing. New thing being illegal or new avenue being really hard to use or being outside of the normal infrastructure or being seen as dissident and scary and drugs and child porn. But I think it's probably one of those things where it's like they're constantly moving the goalposts because this is exactly what happened with bitcoin, right? Is bitcoin has been constantly equated to, oh, it's just criminals and drug lords and all of this stuff. But today, now it's tools within bitcoin and certain things that bitcoiners do and mixers and these things, these are the things that are related to drugs and you know, child exploitation and all of this stuff. But bitcoin itself, you can buy an etf, super traditional, all good to go. And I don't think this narrative will ever shift. I take that back. That's showing that the narrative is shifting, but I don't think the narrative will ever change. It will just shift the place in which the line is drawn as the technology, as we continue to build technology in our direction. And I think that's a, it's partly an unfortunate thing, but it's also just a good thing. It's seeding ground to. In a couple of different ways it's them ceding ground but where they can make a fight and where they can push back aggressively, they will. And I think it's largely in these alternative systems because we still don't know of a way. And this is true of all cryptocurrencies, this is fundamentally true of blockchain based consensus mechanisms is there's still no complete layer two, layer three, whatever solution that pulls the entire trustlessness forward of the base layer that allows total ability to exit, like the capacity to unilateral exit and the lack of a central service provider. And that's really the big thing is the central service provider. So ARC is great, fediment is great, Ecash is great. They have all of these wonderful benefits for, for how it can be used in ark, something like ark. And those types of tools in particular have the ability to have unilateral exit. But the problem is they can still go after the service provider. Like they can still say that oh, in Hungary or whatever, this ARC provider was allowing Hungarian users and therefore eight years in prison for the ARC service provider. So it adds significant risks and marginal costs to the provision of the service itself. And that I think is obviously where the attacks will come, is the focus will be on how do we prevent these services from being available to people. And it may very well mirror a little bit like BitTorrent and streaming services and the VPNs and all of that battle is how much they're trying to, you know, institute KYC and they try to limit where people can log in from. And you know, some streaming services will now just like not you have to log out if you're using a vpn. And so they'll try to control, they're trying to recreate restrictions that don't exist on the Internet for Internet services, trying to restrict so that Hungary and Germans and French people can only watch these movies and this part of the catalog, whereas the US and Canada or whatever can watch this part of their catalog on these dates. And so they literally restrict it so that, and also just to appease governments, you know, some European government decides that you can't watch this documentary about, you know, second opinion about the COVID vaccine or something. And so it's not available in those countries. And if they want to log in from a US vpn, well now you're behind a vpn, you can't do this, you're not allowed to do this in your country. And we don't really care about free speech or expression or the ability to, for the Internet to actually be what the hell the Internet is supposed to be, where people can just access they can speak freely and they can access media as they need to or want to. Instead, we're going to try to recreate all of the walled gardens and everything on the Internet with the new infrastructure as exists in this old like physical boundaries world. It literally doesn't even exist. The Internet has no clue that it exists. It's entirely a manufactured thing through a set of corporate infrastructure providers and governments. And I think we'll see this similar, a very similar thing happening. I think we are kind of seeing a similar thing happening with Bitcoin with the idea of crypto assets and stable coins is like how they're allowing certain things and how they're not allowing others. And why where they're selectively attacking and also why they're pushing CBDCs and stablecoins so hard is because they want to get back control, they want to be the runners of the new infrastructure. And the reason I liken it to BitTorrent is that you know, BitTorrent gave user what, like what BitTorrent did was it enabled the technological progression to the new environment where when the corporations and the copyright giants refused to sell songs by themselves, like an individual song, you had to buy the entire album. And I mean it literally just wasn't available. You couldn't just go somewhere and buy a single song. And when they. This was another big thing about BitTorrent for like actually digging into the data and how and where it was used was one of the biggest reasons, you know, they always talked about, you know, oh, we lost $100 million in revenue because some stupid kid uploaded a movie and now we have to sue him for $100 million because a whole bunch of people bought it. Excuse me, a whole bunch of people downloaded it for free. But like that was not at all like the idea that all of those people were going to go buy the movie and they didn't because they downloaded it is retarded. There is a, a couple of different studies and stuff in relation to this actually showed that notion was actually absurd. In fact there were some indications based on certain conditions of the release where the access on BitTorrent could have actually possibly inflated the number of people who went to go see a movie or went to the movie theater or something because they wanted to see it in the theater if it was actually good. And most people exploratively download stuff off of BitTorrent or they do so when they literally can't get it by some other means. And this was something that like I experienced myself. Like I, in fact I'm Actually back with my parents right now. And one of the things that we. I mean, we bought and watched movies religiously. Like we had a big movie theater room up in the top of the garage. My dad still does, and he's got a bajillion. Literally a bajillion DVDs. Like we went through. I was looking for one movie yesterday, and it took like 45 minutes. We were all just like scouring through the walls of shelves looking for a freaking dvd. And we found it, how to Train youn Dragon. But the disc was gave an error and the PlayStation wouldn't read it, so we ended up having to download it anyway. This is actually another example of like this sort of thing is, you know, like I had media that like we had purchased, we did own, but it was inaccessible because of stupid scratched disc. Or maybe just it's a PlayStation 3. It's ancient. So like, maybe it's just like on the struggle bus and not playing a disc that could play in some other player. But I would have this exact same experience in other ways. Like back when you had to buy things on the itunes store, I remember I bought a documentary about going to the moon. I always love, like, space stuff. And I bought a season of Archer right back when it was released. I bought, like, I wanted to buy. More importantly than anything, I wanted a copy of it so that I could, like move it around. Like, that's the whole point of having, like, I worked in a digital environment. I played in a digital environment. Like, I just wanted a file that I could take to a different computer and watch and do whatever I wanted with. And the itunes store, you couldn't. You couldn't do anything with it. Like, you couldn't download it. They had like some restriction around it. And maybe I could have like Jailbroke something, I don't know. But I just didn't fight with it long enough. But I tried to watch it on like a Western digital or one of those really early media players before, I think Amazon Fire and like those. Those other like, alternative things, Roku and like that stuff really, really hit the market. But like, I couldn't like, log in or I can't remember what is what it was. But I couldn't. I couldn't do anything with it. It was like trapped on my computer, which was a desktop computer at the time. And I couldn't take it anywhere. I couldn't watch any. Like, I had to watch it in itunes on the computer, which was so stupid. I had like this old crappy monitor and so I went and I literally pirated all of the things that I had purchased just so that I could watch it the way that I wanted to watch it. And going back to the notion of, like, how you can. The studies or whatever that showed, like, how you could track or the likelihood of like a really successful film or something on BitTorrent was actually based on release schedules. So if it was released in the. [00:33:15] Speaker A: US like two months before it was. [00:33:17] Speaker B: Released in the eu, like in the theater or whatever, you could expect like a, like 300% greater success and proliferation in the BitTorrent markets because the movie's already out, it's available, and literally where you can't get it in any other way, people would pirate it and watch it, and some would probably still go to the theater, but some of them, you know, you watch the movie, it's not even that good. You know, you get enticed by the trailers. I've been to how many times you've been to the theater, and it's like, oh, that sucked. That was a waste of time. But it was explicitly because of the release schedule. It was because of restrictions in how the content was made available that caused. That basically responded. The market responded with file sharing services and protocols. And what's funny is you're actually seeing it again. [00:34:07] Speaker A: It's on the rise because of how. [00:34:10] Speaker B: Much streaming services now, like, stuff that we've watched on streaming services for God knows how long just disappears. And it's like we're not even like, informed. Like, we watch My Son watches Curious George like crazy on Peacock and like eight Seasons or something, just like up and vanished. They're just like, done. And it's like, are you kidding me? So, like, now I have to figure it out. Like, and it's not even like, on a different streaming service. Like, it's such a mess. And it. So it becomes this like, slow, gradual, like, kind of boiling frog thing of going back in the other direction. But all of the streaming services themselves were a concession. They were a massive win for BitTorrent because they basically and itunes as well. Like, the idea of selling a song, an individual song, and just letting people buy the music they wanted, it's. It's basically their, Their. The evil stepchild this, the service and like, streaming service systems that we have now are kind of the evil stepchild of, okay, well, how do we marry? What people wanted so desperately with BitTorrent. [00:35:17] Speaker A: Was getting the content in all the. [00:35:19] Speaker B: Forms that they like or in all the devices that they liked at any time that they liked. So that they could watch the whole season of the show, or they could watch, you know, the movie on whatever. Whatever electronic device that they had. [00:35:31] Speaker A: So how do we give them that. [00:35:33] Speaker B: But also retain control over it, restrict who and where people can actually view it, and of course, never actually give them ownership of any of the content. [00:35:44] Speaker A: And systems like that make people arrogant. [00:35:47] Speaker B: The more successful they are, the more they believe that they are the value rather than the thing that they're providing in the way the customer wants. And so they end up using it for control, they end up using it for surveillance. They end up. It ends up having a completely different motive. And the restrictions and the monopoly, the copyright monopolies that they've built around the content is what they then use to exert the secondary control or exert the secondary purpose, which is basically tracking everything that you like, the number of times there's like, can this app track all the other things that you're doing online? It's like, what? Why does Netflix need to know what the hell I'm doing on my freaking web browser? But because they're harvesting you for anything that they can get and, you know, selling access to APIs and data. There's all this huge, huge secondary data markets in all of this stuff. And the more they can. [00:36:49] Speaker A: They can sell recommendation data, like, what. [00:36:51] Speaker B: Movies and stuff do you watch? Oh, well, let me sell it to Target so that Target knows what to put in your little pamphlet or your email to get you to open that thing up. And also remember to buy diapers at Target. But I think we can expect to see something very similar happening with Bitcoin. And I also don't think that this is necessarily. I mean, it is a bad thing, it's a step backwards. But this is what I've. And anybody who's listening to the show knows, I've talked about this quite a bit, is the whole two steps forward, one step back. And I think bitcoin is the two steps forward for the Internet. And there's going to be a one step back because there will be concessions, but the concession will be the, you know, the unholy marriage between the traditional financial system, the key thing that Bitcoin provides, and the controls and surveillance of the traditional financial system. And they will try to edge case. They will try to push to the edge and push to the extreme gray and black markets. Anything that essentially limits their degree of control. And the thing that I think bitcoin will provide will be the concession that will be given, which is actually a foot, like an astronomical concession, is Control over the money supply is. They really won't be able to do anything about that. And bitcoin will be a way. And that's why they will try to wrap it into surveillance and controlled, like permissioned environments. Because their best chance to actually compete against this or to limit the power of bitcoin to actually correct the pricing mechanism will be in limiting and controlling the capacity to which people can use it. This is why I also still think that as much as there is like putting hope in the political system is not the right. Is not the right way to think about it is thinking about political activism as a way to slow down the. Essentially the boiling. And a lot of people myself have made the argument before of like, no, just let it boil and the frog will jump out. But there's also, I don't know, I see countries that basically allow that to happen, allow the encroaching to go too far. And we're talking about like 10 generations that are lost before there's, before there's any seeming change. And even when there is change, it's some horrible revolution. It's just a change to a different terrible thing. So I don't. I'm not so sure I'm naive enough anymore, if that, if that might be the word, to think that the accelerationism is really the way to go. Because I don't know how. Like, you don't fix a horrible political problem without violence. Like violence is the only response to that unless you're developing technology. And the only way that you can actually allow the environment for technology to proliferate and the infrastructure to kind of get built into the point that it's inescapable, that they can't completely shut it off because they cut off their own foot in order to have better control with their hands. You need them to be tied to its success. This is why you want Bitcoin integrated into the fiat financial system, is because you don't want them to be able to just say you can't use Bitcoin. You want them to have to try to pretzel their way into just making Bitcoin. Not allowed for the freedom uses, but bitcoin being allowed for the fiat permissioned uses because there's inevitably going to be this big gray area where it's easy. It just makes it so you can't cut off access completely in any sort of political environment where you just don't have unilateral control. And even with an ignorant population and an ever encroaching political system, the goal is to Outpace them. Right. It's to build the routes around them faster. Then they can build and close in the legal structure and the political and infrastructure side of things with basically the corporate infrastructure. So especially the legal wins like the court cases and the. I think just having Ross Ulbricht pardoned, I think was actually an important part of the puzzle because it changes the social conversation around what is accepted or what is what the expected outcome of a certain environment or a certain contest and type of thing that we're building or using is. It sets a precedent and the precedent does matter. Like, for how many years? [00:42:15] Speaker A: For 30 years? [00:42:16] Speaker B: 30. Almost 40 years. Like, for the entire history of the Internet, they've desperately been trying to make encryption illegal. And because of a handful of legal battles that cypherpunks and freedom fighters and the Electronic Frontier foundation and like these institutions that have been fighting for this is just a handful of lawsuits that they have won, it continues to fail. It continues to fail. And they're trying over and over, and they keep doing that. One inch closer to getting there, and the fight is never over. We just went through this fight again basically last year. We're fighting it again right now. There are people in court right now, cases that revolve around people who just write software being guilty for how people use that software, even if they're not. [00:43:03] Speaker A: Even providing a service. [00:43:04] Speaker B: Like, the number of things that we're still going to have to fight over and the precedents that we will have to build or we will need to push in our direction and we would want to, in order to protect kind of this, this extra little space in. In, like, just get a little bit of forward ground in the fight for freedom and the ability to build what we want permissionlessly because we have the permissionless tools in order to do so. Like, we have the environments, we have the technology to do this now it's about, are we going to get caught legally? Are we going to have to. Are we literally going to have to fight the jurisdictions that we are in? Because at the end of the day, privacy, no matter what tool you're using or what service you're trying to provide or how you're trying to do it? If, if a. If a government is dedicated enough, is willing to put up enough resources, if what you're doing is influential enough, they're going to find you and shut you down. Like, doesn't matter if you're a Monero node, you're running over Tor, like, you throw enough resources at it, you can find the source of what is on the Internet you just, you just can like there's no perfect solution to any of these problems, which means that the quote unquote solution is to build out and adopt as fast as we can and as broad as we can. And you know, going back to. [00:44:35] Speaker A: Like. [00:44:35] Speaker B: Steve talked about this on the roundtable and we've actually had an ongoing conversation in our roundtable key room about problems with lightning and the things that have been working with lightning because Mechanic recently got his clearnet version of. I think it's Albi Hub actually because that's the one I've been using with Albi Hub and Nostra Wallet Connect. And dude, it's so nice to actually have a self hosted wallet that's actually working and has been pretty damn reliable through the entire like my entire use of it after setting it up and where the exceptions were basically like power outages and crap, which is nothing, nothing I can do about that really. But building tools for people in their environments and like Steve talks about all the time, is the utter disaster of having to deal with payments that fail even when they're quote unquote rare. Even what is rare is still like infuriating when the situation arises. And then more than anything else, tips is he has a bar and the people at the bar who receive like they get an enormous amount of what they make is in tips. And so how do you deal with tips? Enlightening. How do you split that payment up? How do you ask for a, you know, addition to the invoice to. And people haven't built those tools. Like there's just not a solution to that. So anything that would have to be used is something that you'd spend hours training employees on and then it would only work one out of every. Or excuse me, or it wouldn't work like 1 out of every 10 times or 1 out of every 20 times, which just becomes like a huge frustrating nightmare, especially when you don't even have that many people using it. So it's like how many resources do we dedicate to this when there's barely a handful of people who actually utilize it and then it causes more problems than it actually fixes when the time comes to actually use it. But the progress has been slow and steady. And you know, one thing I noted in our conversation in the roundtable was actually that lightning, as is, it's hard to actually implement it makes much more sense as an infrastructure. Side is that lightning is kind of a global payments rail system, but it also makes sense that. Or let me put it to you this way that finally finding a solution for self hosters to do this easily and responsively over clearnet. Because I can't tell you how many times I had tried to do something with Bitcoin in the past and it was like, why don't you just use Tor? Tor sucks. Tor sucks the UX around. Having to wait 10 seconds for a response from the wallet to get the, you know, to get the balance and the transaction history and then for pulling an invoice and then paying for something and everything's sending over to it. Like everything's just massive delays. It's so slow. It feels like going back to the Internet. It feels like that, oh, I'm going to download this picture. And it's like you're watching it show up line by line by line on your computer screen back in like 1995. It sucks. It sucks so bad. And there has not been an easy solution to that for a long time. And now there's kind of multiple things that have finally started working in that way. And so in kind of the realm of thinking about is like okay, Lightning still doesn't have a. [00:48:28] Speaker A: There are good wallets. [00:48:29] Speaker B: There are good wallets. And I will note actually because Steve tried out Aqua, the ones that I recommend are BitKit or I actually recommend Phoenix before something like BitKit just because BitKit has separate balances. And if somebody just wants to try out Lightning, bitkit or excuse me, Phoenix goes straight to Lightning. But bitkit's more of kind of a general wallet because I use it mostly for on chain and it doesn't work in the U.S. well, it does if you have a VPN but. And so I tell people to get a VPN but it's enough of a thing that like okay, you know, you want to caveat that but Lightning wallets that just work and that I feel like I can onboard people to are Phoenix Breeze, Bitget and Aqua. Oh and Coin os coinos is fully custodial, but damn, it works so well and you can swap in and out of Lightning liquid and on chain and super easy. In fact I was using it way back when. It was like this classic wallet they had in their browser. So their implementation is so good for a custodial wallet that just kind of does the trick. But it is a custodial wallet. The reason I mentioned Phoenix and Misty Breeze and Bitget is because they are fully non custodial. They work with the whole LSP model. Granted I have never had Phoenix always works for me. But Steve said he's had problems with Phoenix. So I'll give that caveat. I have not had problems with Phoenix. But one thing absolutely that Steve points out which does drive me crazy. Especially when Cash app uses blank invoices. Like they don't use invoices with an amount and they use Bolt 11. The lack of invoice, various invoice compatibility is infuriating especially with Cash App because not, not because Cash app doesn't recognize invoices which it may have a limitation. But Cash app is such a perfect example of like a normie tool. Like a way that people are probably going to be onboarded into Bitcoin. And the fact that like you can't take a bolt 11 invoice without like with a zero balance and put it into. I think it was Phoenix. I don't know. I feel like Phoenix does can actually do that. But there's like certain. Some of these wallets. I think it's Aqua. Aqua didn't do it. Is like that's, that's so horrible that like it's like oh, lightning is a universal language. It's like, but I can't read this in a voice. I can't read this lightning URL. I can't read Bolt 12. And holy crap, Bolt 12 is. Has been the slowest possible thing to get off the ground ever. But I am so stoked that Albi Hub is now supporting Bolt 12 invoices because it's a reusable payment system or payment like address. So you basically create an invoice and, and if somebody else has a compatible thing they can just continue to pay to it. You basically can save somebody's Lightning Wallet like a contact and that is a huge freaking deal. The only thing that really, really let you do that was actually BitKit. And the beauty of. Or if it's a Lightning URL, which you can do like I've saved that in Phoenix for a couple of people. But the, the cool thing about if it's a lightning URL is that okay, well you just, you know, pull information from the URL. BitKit is actually interesting because they actually come up with their own. They have their own little peer to peer backend where you're actually just refreshing it. So after you use an invoice of somebody that other person literally updates their invoice to to you and then you just save a new one so that you can use it later. So it does have limitations, but it kind of like, it's like a trick to get around the fact that Bolt 12 isn't widely available before. Bolt 12 has become widely available. It's like, how do you trick it to make it seem like, or feel like bolt 11 is actually working like a reliable, you know, reusable invoice? But that constant, like, disconnect between what this wallet is supporting, what this wallet is using, and especially with Cash app, the fact that every major lightning wallet doesn't come out of the box with support for whatever the hell kind of invoice that cash app gives you is just. That's crazy to me. Like, you're. You're literally shooting yourself in the foot. And so in a lot of ways, I share Steve's frustration, but I'm not so doom and gloom about it. And I think it's mostly because a lot of the environments in which I use it, I think it's just because in his environment, with tips and the bar, it's very. It's like one of the least optimal environments for lightning to really kind of do its job. But there are, like, I totally admit there are tons of different problems and incompatible compatibilities. And it's the reason why I. It's hard to know which wallet to recommend to what person in what situation to just make it a reliable experience. But this is kind of where ecash comes in. And it still obviously has the problems of. Well, first of custodial, but the service provider issue. But it can be exchanged entirely offline. You can sign over e cash balances just between you and the other person that you're using. And as long as somebody can go connect to the Internet by some, you know, within time limit or. Well, it's not really a time limit. Just as soon as somebody connects to the Internet and has contact with the ecash provider, it can basically confirm and update the signature on the blinded balance and transaction that occurred to prevent double spending. But the bitchat actually has this implemented. So bitchat is actually really interesting. It's not. It's more. More interesting for kind of disaster scenarios and for, you know, when power's out or the. The Internet has been locked down or something, and you're trying to get, especially in like, a huge group, like if you're in, like, a protest or something, and they start shutting down cell towers, which is not an uncommon thing, especially depending on where you are. But then you've also got situations where, you know, people were trying to get messages out with during hurricane Helene and stuff. And one of the biggest issues was how do you get connected to people? How do you find the people in the mountains or in these neighborhoods that are completely shut off. How the hell do we get communication between all of this? And that was one of the big things that the bitcoin veterans were doing is they were just setting up notes. They were just like, okay, set up meshtastic nodes all over the place just to get people WI fi or some, you know, short range connection. And Bluetooth in that way, if you can have encrypted Bluetooth chat and Bluetooth is a pretty low band signal, it's like, like as far as wavelength, like it's obviously it's like way denser than something like the radio. Like, you know, you got like a hundred and one hundred megahertz. Like you know, 100, 1.5 is literally 101.5 MHz, whereas Bluetooth is 2.4 GHz. So it's a far denser signal and it doesn't go through stuff as well. But you could also have like, if you ever use WI fi, you know, wi fi, you're like, oh, 5G is going to be so much better. And you've got like the two different options, 2G and 5G, whenever you're setting up your Wi Fi, let me tell you, I religiously shut off the 5G and only use 2G because the data limits on the 2Ghz is like 400-600Mbps, whereas supposedly 5G can get up to 1.3, like 1.3Gbps. So if you've got like a 1Ghz line, you gotta use 5G, it's gonna be so much faster. Well, the problem is 5G is way denser and it goes through stuff like way less. Whereas 2 point, the 2.4 GHz is a less dense signal, it's a lower frequency, so it goes through walls better, it travels further. And so in practice you actually end up, at least in my case, I usually end up getting better performance on the 2.4 gigahertz most of the time. And it's because the 5 gigahertz will have, you know, higher delay or lag and it's usually going through much more stuff. And I also don't like that. I don't even think that the benefit is worth it. And I'm pretty sure, you know, the higher denser signal you get, the more likely it's going to cause, you know, minor problems like you hear about people. It's. I don't think it's a ridiculous thing for people to assume that it causes headaches, that it causes imbalances and like mitochondrial activity and stuff. There's a lot of indication that those things are actually relevant. So you got like a big freaking WI fi sitting next to your head or, you know, right next to your room and it's blasting out on nine different antenna, bunch of 5G signal. Yeah, I think it's reasonable to think or to. To wonder if having that blasted into you every single day for six years at full power is probably has a consequence. Like why, why wouldn't it? Granted, it also matters that other people aren't using the channel. So I think 2.4 GHz works better because less people are using it now and they default to 5G. But this was all basically a tangent on the fact that I think Bluetooth is actually a really useful tool in that sense because you can get pretty decent range on a small device and it will go through things better. It will go through crowds and buildings and walls and all of that stuff and still establish and be able to transmit signal. And a small powered repeater or something can basically extend a lot of additional range and benefit to something like that. But it's also never going to be really like, it's never going to be mainstream if it doesn't have like a normal. Like it should also use the Internet. And that's kind of what I don't understand. And maybe this was like, like a bit of a proof of concept and we're going there to having P2P chat or something, but I don't know, an app that only does Bluetooth feels like a half measure because it's like, okay, I'll open it when I don't have power. But because nobody's really gonna use it unless they don't have power, what they're gonna do is they're gonna find out when there's no Internet and there's no power that, oh, I should have had this thing called Bitchat. It's like, all right, well what if you were already using Bitchat and then it went to Bluetooth when the other didn't work? I don't know. I use Keat all the time. I use Telegram all the time. I use. [00:59:53] Speaker A: Signal all the time. [00:59:55] Speaker B: Like, adding Bluetooth mesh capability in the face of no Internet connection would actually be powerful to those applications because I'm already using them. And the fact that I could open them up when there was no power or no cell signal and maybe actually talk to somebody. Like I could talk to my brother in another room where we could get messages out, or he could deliver messages for my client, if he managed to go somewhere and get Internet connection or cell signal for just a brief second and get messages out, that's a big deal. Especially when you have something like cashew implemented into Bitchat so that you can, you can literally send money. You can send ecash. Like, that's awesome. But then I also feel like it's super gutted at the same time, you know, like, I opened, I downloaded, I was like, oh yeah, I'll check out Bitchat. And I downloaded it and it's like nobody in range. Like, obviously, you know, I'm not who the hell is going to be opening bitch at unless I just go tell my wife to do it in the other room. But I was like, what the hell do I do with this? I can't do anything with this. I can't send e cash. And I know there are certain places in the world where it makes way more sense, where there's a, you know, meshtastic is kind of the only option for certain, you know, people in like the, the town in Ethiopia that's mining bitcoin. Like, I'm pretty sure I want to say I read that it was that town that's actually setting up like kind of a mesh tastic thing. So they have their own little communication system. And part of that is actually being funded by bitcoin mining because it's helping to make their hydropower sustainable. But outside of those cases, like, I want to be able to, like, I want to be able to do a peer to peer thing on the back end or something. And just like, if I don't have connections, I want to just be able to connect over the Internet and like just have both as an option that it can maybe, you know, it's got a little connections in the top, right? It's like, okay, well here's the connections to the Internet. Is that a check? Yes. Here's connection to Bluetooth. Is that a check, yes or no? It's like Bluetooth is running, nobody in range, Internet's running. You're connected to five people or no STR relays or whatever the hell it. [01:02:15] Speaker A: Is, but utilize both. [01:02:18] Speaker B: I don't, I don't, I don't, I don't know. And maybe, maybe that's actually going to happen. Maybe this is just a proof of concept because, you know, like, like they said in the Freedom Report here is that, you know, this is a new sovereign tech stack that's unfolding and we do, we are getting all of the pieces of the puzzle to do something really amazing. But I also just, I can't help but go with the whole bitchat thing because it's freaking awesome in certain ways. But then it was. I opened it and it's totally useless to me right now. It is really cool just in general to see how things like E Cash and Fediment and all of that stuff make progress. And I still think, and I'll just, I'll just keep saying this on the show because I want to somebody else to build it because I don't have. I don't have time to it to do it. And I think it's a good idea and I think it works. I have spent a little bit of time looking into how this is possible and how ecash works and everything points to the fact that it does actually work like I think it does. So here's my idea again, for anybody who hasn't heard it before and who wants to do E Cash stuff is have bitcoin actually time locked. So to, to back up ecash. So E Cash works with a cascading hashes of amounts of like balances. So you issue all of this ecash at the, at the beginning or based off of a bitcoin balance. And then you can send it around from, you know, person to person. With this blind signature scheme, however, you should be able to prove, in fact this is kind of part of how ecash works, that it is attached to the initial, the initial issuing of the ecash token so that you can know that your balance is part of that ecash balance and you can reveal the total balance of the ecash at the same time. Like, you could basically have a quote unquote proof of reserves corresponding to the initial issuance. It's like, okay, you have an initial bitcoin ecash token that was created at this time and it's under this amount that was created. Well, there's also no reason why you could not then print that or post that into a bitcoin transaction attached to the bitcoin. So you have one bitcoin and you issue one bitcoin in ecash and you put all of the proofs, the verifiable, the verifying data of that one bitcoin's worth of ecash into the transaction with the one bitcoin in it. And then you time lock that one bitcoin for a year. And now anybody who is using the E Cash can literally just go to that address on the chain and confirm that, oh yeah, my, my Bitcoin eCash is 100% backed by the bitcoin in this now it's not, doesn't mean they have unilateral exit. It doesn't mean that you know, the ecash mint isn't going to go away and they, you know, they still can't exit the ecash mint unless someone is providing liquidity. And maybe that's probably the reason why this doesn't happen as often is because you'd need somebody else to be accepting. [01:05:46] Speaker A: It as like a bridge. [01:05:49] Speaker B: But the assurance that you get that somebody's not re hypothecating so to speak, that the ecash tokens actually correspond to bitcoin that exist, I don't know. I think that's a viable system. And maybe really the thing is that like okay, well then you would need liquidity to, you would need somebody basically buying the E cash in order to get out of ecash if you wanted to turn it back into lightning. So maybe that's what it is because then you just need extra liquidity and you know, the ecash provider just wants you to be able to deposit and then take it out. And a time lock makes that frustrating or just makes it, you know, more costly for the service provider. But it also creates such a degree of assurance for the ecash is that okay, well I know for the next year like this doesn't expire for a year. So like this ecash is quote unquote fully backed. Like there's no rehypothecation. Nobody's creating bitcoin out of thin air here and just taking my bitcoin and running and I think that would provide like, that would provide an enormous amount of integrity for the ecash system. I think that is being used and I really think that's where the big problem is. Like I don't really use ecash because I'm like whose ecash thing am I going to use? And when I do I think of it as like this real like kind of side thing. Okay, I'll use a little bit here and there or something like $5, $10 or something which is fine to some degree. That's, that's kind of where it's most optimal use case is at the moment. But if I knew it was one to one back, one to one backed with time locked bitcoin and even more so is that, you know, I could, let's say I could send a pre signed transaction or request a pre signed transaction on a certain balance of it or something with the you know, quote unquote service provider. Like let's say there's like A certain amount. I don't know. You'd have to create a whole system for this. So now we're talking about like a protocol. But regardless the amount of integrity, like if somebody had like a one bitcoin, a way to prove that any e cash balance was backed by one bitcoin in a time locked thing that couldn't be moved within that window, I'd be like, dude, I'll totally accept this ecash. Like, yeah, like no problem at all. I don't know, maybe Federman is the better way to do it. Just because you have distributed trust and you don't lose the liquidity of like moving in and out. You don't have to depend on somebody else quote unquote buying ecash and selling lightning sats for, you know, to make sure that you have bridge liquidity. But still, anyway, just an idea. I would love for somebody to test it out and I don't have time to do that. So with that I've rambled enough. There's lots of really interesting things to unpack in this one and actually the last couple of freedom reports have been good. And as I have said, this is a great one stop shop. Like it's like crazy. You don't like, you're not going to hear about this stuff on the news and I feel like this is the stuff that matters and this is where the needle will like you kind of have like these little dominoes happening that lead to the big dominoes. And if you don't know what's happening around the world in all of these little regimes, you don't see what happened. It seems like it's so easy to think that something's coming entirely out of left field because you're not seeing where the shifts are occurring. And that's why I think this is just on this whole front to kind of see the, the little, the little things tick off one way or the other to see the little tools that get implemented or where they're getting adopted in a country. The success or failure of, you know, the Nigerian government outlawing, outlawing bitcoin and how it is that the bitcoin community there actually continued to thrive and even when it was illegal to trade on alternative exchanges, they still did it. How does that apply to Hungary? How do you continue to walk forward for more freedom and more autonomy and more sovereignty in a world where governments are trying to walk in the opposite direction? And you get all of these little examples and these important news items that I think really matter in the big picture and the legacy news just doesn't just doesn't care and or it's it's sends the wrong narrative. It doesn't let them. You know, it makes it. If you see too many parallels and you know what the Hungarian government's doing and what the United States government is doing, that's really bad for the narrative when you're, when one's obviously deeply negative and you're trying your damnedest to paint the other one as a positive. So anyway, there's a link to subscribe in the show notes and of course you'll hear about it up here. I'll try to cover as much as much of the important news and new tech and it's freaking Bitcoin audible. That's what we do. I'm also finally getting to a piece by Gigi inalienable property rights that I had not done before. [01:11:00] Speaker A: And it's so good. [01:11:01] Speaker B: Can't. I don't. I don't know how I missed this one or maybe I just put it on my list and never got back to it. But you guys are really going to enjoy this one. So stay tuned. Forget to subscribe. Lots of other things. I got some audiobooks wrapping up and two more just constantly banging away as much audio as I can. And yeah, lots of new projects developments. Stay tuned. Don't forget to follow me on Twitter on Nostr Pub Key and subscribe to The show and YouTube and Rumble. All those places. Leave reviews. It helps a ton. Don't forget to check out pubkey actually and the things that Synonym are building for redesigning and restructuring the web. Don't forget to check out chroma getchroma co 10% discount with code bitcoin Audible for your light health and hormone health and getting your circadian rhythm in order. And of course ledn the place to get bitcoin backed loans if you need access to Fiat and you don't want to sell your bitcoin. It's a really useful tool and the loan experience of not having to do a credit check is almost bizarre. It's so easy. Links, details, all those goodies down in the show notes. Thank you guys so much for listening. [01:12:20] Speaker A: I will catch you on the next. [01:12:22] Speaker B: Episode of Bitcoin Audible. And until then, everybody take it easy guys. See, the world is full of things more powerful than us. [01:12:45] Speaker A: But if you know how to catch a ride, you can go places. [01:12:50] Speaker B: Neal Stephenson Snow Crash.