The Bitcoin Group #345 - Staking Banned - Local Bi

The Bitcoin Group, the American original. For over the last 10 seconds, the sharpest Satoshi's, the best Bitcoin's, the hardest cryptocurrency talk. We'd like to welcome our panelists, Victoria Jones from Satoshi's page. Happy Friday. Dan Eve, the crypto raptor. Welcome to the Bitcoin Group show where we talk all things Bitcoin and crypto you know. Ben Arck from Ln bits. Should I have one? And I'm Thomas Hunt

from the world crypto network moving on to issue one issue one. to Bitcoin. It has always been on the safe side of regulation. Yes, they're looking into crackin shutting down their staking and coin bases also likely to shut down their staking programs as the SEC cracks down on crypto staking with Gary Gensler himself releasing a video on Twitter calling out the practice. Saying that it will

no longer be allowed. Victoria Jones, what do you think of the US government's attack on crypto staking? Well, the article was a bit confusing really because, you know, there are two different things like yield and staking. So staking one of the things they went into great detail about was staking, which is on a lot of the defi protocols with a lot of the coins that use

proof of US citizens of access to that new technology. But if you read the article more more carefully, it turns out that what they're actually talking about is the Kraken's yield product, which is actually a bit of a different thing because when they asked for comment from the head of Coinbase's legal department, they said that they're staking, you know, they're staking policies were fine. So it's

not clear. The article, you know, exactly what they're referring to, but given that Kraken has agreed to pay 30 million in order to get the US government off their back and close their yield product, I would say. I would suggest that, you know, that's that's what it's probably referring to. And of course, you know, that's a yield product on centralized exchanges. And of course, you know,

Celsius and Celsius has come a crop up for operating that I was watching a YouTube video with Simon Dixon earlier and they did a deep dive into what was actually going on with a lot of these yield products with some of these exchanges and what they found was that, you know, most of them were fraudulent. So it's understandable why the US might go after something like

that, you know, if the if these exchanges who are offering that kind of product have nothing to sustain themselves, then it's logical. It's it's not part of, you know, their laws and actually given what's happened to the FTFT, token and FTX, you know, I think that's a reasonable thing to do. But of course, staking is something completely different. And even if they wanted to, they're going

to find it harder to get on top of that, I think. So, um, so yeah, I think a lot of these articles, you know, they kind of talk about different things and it's really confusing for people if you don't understand what's actually going on and what these terms mean. So you have to read them very carefully, because, you know, just one word completely changes the meaning

of what's going on. But those are my thoughts when I read the article. Well, I think even if they are considering a staking ban, it is time for Bitcoiners to take a victory lap and say once again, how proof of work is better than proof of stake and that proof of stake gets consolidated in this way, where the government then thinks they can regulate it. And

maybe they can, unlike proof of work, which seems almost unregulatable. Dan, Eve, what do you think about the attempts to block yield and staking programs from crypto exchanges? Yes, I agree with Victorian that there's obviously different. So, you know, they're staking minutes when it's termed as staking, but it's just a yield product and they're staking when it's used as proof of stake. And I think that's

a good thing. With a decentralized network, arguably less decentralized than Bitcoin, you know, for example, Ethereum, it still is going to turn into a whack-a-mole situation where people in the US are still going to stake Ethereum. It's just the coinbase and whatever are going to take it offline. Other companies will basically make more money outside of the US and they're just forcing business outside the US.

So, as you mentioned, it brings back this argument about Bitcoin, you know, being proof of work being better, for obviously for a number of different ways. And then they also slip into the article about the fact that proof of stake is much more efficient than Bitcoin. No, it's thinking about this because they always forget about the use case, right? So, if you think about the trade

off the use case, I'm going to say this about, like, the security of Bitcoin compared to Ethereum. I mean, the other ways that Ethereum can be gained because of the stakeholders or the stakers. But like, it's like the equivalent of a lighter going, a lighter is much more efficient than a flame frower. But if I was in the film aliens and I came across a load

of alien eggs and I had a lighter, right? I'm screwed. I need a flame frower. So, the use case in that scenario just doesn't work out. And that's why Bitcoin's security is much, so much better. But yeah, as soon as they ban it in the US, there's other companies who are just going to move either move their businesses or they'll be other businesses are broad taking

up that consumer market. And people will use VPNs. If they say, oh, you can't connect to something that stakes, they'll just VPN, it'll become another whack emollars. It is with Bitcoin and any other decentralized network. As they did when they said, I didn't, I can't remember what branch of the government, but they were saying, oh, Ethereum staking is really bad. And we might go after it

because 60% of staking nodes are in the, in the US, which means, it's actually a US based network. But it's just going to, yeah, it's just going to make people go outside the US, use VPNs and do all the other things that people do with decentralized networks. And it really, all it does, it's going to showcase how good a decentralized network is compared to one moaning

government who doesn't really know what they're talking about. Ben, ARK, is this a new bit license for this time for all of America, no staking, no yielding, no interest for the good people of the colonies? Yeah, it was a very confused article. I think they've been using that chat, chat, I think, to write their articles because being proof of stake has nothing to do with staking

anything for yield. So if you're going to stake a coin, you can stake Bitcoin, stake whatever you want, if it's a decentralized company, which is holding those coins and giving yields, so they can then learn out those coins for the customers, which is what I'm assuming they're using fact that staking for yield is what they're, the articles talking about. But for some reason, they get confused

and think it's just referencing proof of stake in the Bitcoin doesn't have such a thing. And it's just not true, like you can stake Bitcoin. And people don't know what they're doing. People have lost Bitcoin, staking Bitcoin. And you can do it in a centralized way, you're on some exchange where you can probably do it in some decentralized way, you see like multi-six and time locks

and whatever else. So yeah, very weird confused article. I really want to like it was written by some AI. But again, it's just, you know, it's, it's a good thing if they're, they're going to go after the high risk volatile behavior. Which causes people to lose their, you know, savings and lose all their money. And the sort of bad behavior you get on an exchange and,

and people like locking up their coins on exchanges and staking them is, is bad behavior. So it's a good thing. I think that they're regulating them on a centralized exchange. And it'll be a good thing when some more outside to it in a more efficiently centralized way, which is essentially resistant. But weird article. Well, wake me up when they pass legislation forcing people to hold their

own keys. Everybody pound that like button. It's time for the exit question, exit question, competing against the magical Bitcoin predictor ball, the greatest predictor of Bitcoin of all time, better than any triangle. Victoria Jones, will the price of Bitcoin be higher or lower this time next week? Well, it's not doing very well at the moment, is it it's had taken a bit of, it's, it's looking

a little bit. Scary. So I'll say given how strong the move has been over the last few weeks, it's probably time to take back some of those gains. So I think it's in the space for a week, I think it'll probably be down a bit further. Dan Eve continued pessimism over the crackdown on cracking and the trouble with staking and whatever else it is yield yield.

I think Bitcoin is, is, is listening to my, my begging of being a lower price so I can, I can dollar cost average a lot, a lot, a lot more profitably. So I think we're going to. You always hear that battle cry running in a battle, dollar cost average. No, never, never hear that. Ben, are higher or lower? And FTs are the key and now asking

the Bitcoin predictor ball, the prognosticator of prognosticators. We recently had groundhog day in America. I didn't even watch the movie. Will the price of Bitcoin be higher? It is certain. It is certain. The ball speaks against negativity goes against the grain. Maybe he just wants you to dollar cost average. We've gone to issue two local bitcoins shutting down local bitcoins once a non KYC way to

meet people in bank lobbies and cafes and trade Bitcoins for cash is no more. The weekly trading volume on local Bitcoin has slumped during the pandemic. Siding market conditions. They have decided to close local Bitcoins has been huge and so many Bitcoin stories. From Ian Freeman, new Hampshire Bitcoin pioneer who's now facing eight counts of tax evasion and other people that we know who have gotten

in trouble for using local bitcoins. But it was an early way for a lot of people to get Bitcoin. Some of them without KYC Dan Eve. What do you think about the end of local Bitcoins? It's pretty sad times. I think one of the first first two or three Bitcoins I bought was in was in local because not going to be a lot of money. It

was a big deal. I'm not that I've got them any longer. I obviously was dumb and bought shit coins instead. I was back in 2013. It was just a nice easy experience. It was an exciting as well. It was quite thrilling. Meeting six I was in London as well. I went when I used to work there. I was like, I mean, someone after. I'm actually still

talk to them now. The person I bought the Bitcoin off. It is definitely an end of an era. You see all the tweet. All the people that I bought on the market are really sad about it because again, it was their first buying experience. Especially if that was a few years ago, you know, you're very likely to have bought Bitcoin on local Bitcoin if you were

buying it in 2013-2014. So one of the oldest exchanges. And quite surprised that they haven't kind of done a fundraiser of sorts to keep it going and keep it alive because the brand behind it and the number of people that used it. I'm sure they could rally the masses. And pick up the volume to pick up. As it's done, you know, kind of trending now across

the news. It's not like a normal exchange has gone down. It's kind of a monument, not a monument, an exchange. But you know what I mean? It's like one of the people cared about. Right? They had a kind of a lovely relationship with local Bitcoins because especially back then there weren't many places to get it. So to get Bitcoin. And the fact that you could meet

people up. But in person, obviously they did evolve and had bank transfer and stuff like that. It just had a really personal feel to it. So sad that it's going. And yeah, it's obviously another victim of the crypto of the crypto Bitcoin winter. Sadly. It is the end of an era down. I'm old enough to remember a time when people said the common practice should be

to use local Bitcoins and that they would be critical of you for using Coinbase or any other centralized institution that you're giving up your anonymity and that you have that opportunity with Bitcoin to get these clean coins. Of course, later they'd have KYC on their website. The coins would be linked to your account linked to your KYC, the anonymity falling a little bit more. And I

can also remember a time when people were using the Bitcoin ATMs in our shop that purse was running down on a mission street. And they're only wallet was local Bitcoins. They had no idea about paper wallets. Or other wallets or that there was such a thing as another wallet. They completely use local Bitcoins. Storing perhaps what may have been a fortune of Bitcoin in this strange

company, which now will only allow you to log into withdraw. They're giving their customers, I think it's a bunch of months to think it's 12 months to withdraw their funds off their platform. But I'm sure they've got some big fat wallets on their phone back in the day where maybe somebody died and their family members didn't know they had this local Bitcoins account. And there's still

some Bitcoin on there when Bitcoins were worth much money. But it's where they came from. As a goal, they wanted people to have a peer-to-peer experience. They wanted to try and make that happen. Yes, they did. Ben stood up to regulation. But that was their customer base. They realized as time went on more and more that 99% of their customer base were happy to do a

little bit of KYC in order to get their Bitcoins. And actually, there was a secondary market. So you could go on Bitcoins, you could meet up with a trader, you could buy some Bitcoin often. You could sell some Bitcoins to somebody. And then you could... It was all about relationships. You would build relationships. With some of these people. Like Dan says, you kept those relationships and

you would still speak to them. And I know a couple of... I mean, I didn't use local Bitcoins, of course. But I speak to a... I know a couple of friends who were Bitcoin traders on local Bitcoins. So all about relationships. And actually, people would... They didn't always go through the platform. So they would build a relationship with a trader. And then off the box on

the side, they might do some personal trades with them. So it was still possible to do it to use it in kind of a KYC-free way. But it started. It's one of the great projects to come out of that. That little bar in Berlin, which closed during COVID, room 77, York Spa. And there was literally one of their meetups. And York pointed out that where the

guy was sat there and he was sat there and he was saying, I've got a side here. And he's the idea for local Bitcoins. And he came up with the idea in this bar. And then he sat there and he developed it in this bar. And it was at a time when... It was easy to on and off. And put it to Bitcoin. And there wasn't

that many exchanges to access. And the ones we were there weren't... You just really didn't want to trust them. So... It suddenly, like, over up the whole world. The whole world could... Anyone who has an internet connection, they can make an account on this thing. And they can start meeting people and start trading Bitcoin. Start getting access to Bitcoin. So it was an absolutely fantastic platform.

Very sad that it's closing. But I think some things don't last forever. And there are other sort of... I'm sure we'll make buying Bitcoin in that sort of way easier. As a business model, I mean, it was quite expensive to buy Bitcoin. In the end, it's quite expensive to buy Bitcoin. I used to recommend local Bitcoins to everybody. And then, you know, you go on somewhere

like Crackin. And it's so much cheaper to buy sell Bitcoin. And you're still doing the same amount of KYC. And so I just recommend this other platform. So I think a lot of that happened. It was just too expensive for people on local Bitcoins. So I think it's just... They've worked for 10 years that... They've firmly placed as part of the Bitcoin heritage. Part of the

Bitcoin journey and story. It's okay for them to close shop. Sweep those wallets, which nobody claims after 12 months. Go start on a beach somewhere, kick back. And I think they brought something good into the world and well done to them. But yeah, resting piece local Bitcoins. I agree, Ben. People better get their money out of this. There, or it'll be like the English pound, the

$20 bill. All those pounds are suddenly worthless now. It's not just exchanges that run off with the money. Victoria, many people have gotten in trouble on local Bitcoins. In Freeman, of course, another friend of mine went to... Actually gotten real trouble for trading too much money over the rules, other things like that. Do you think that if local Bitcoins hadn't existed? These crimes... Crimes never would

have happened. That we've got any circulating Bitcoin that's non-KYC. And while there are Bitcoins out there that are non-KYC, the freedom technology is preserved. Obviously, they've introduced KYC and AML to try and get on top of that. Which serves a certain purpose. But I think there's also something really important to be said for having some Bitcoin that isn't tarnished by that. I think it's the say...

I think third people argue that some... Or Bitcoin should go through a centralized exchange because not everyone's going to be able to hold them on a hard wallet. But actually... Some people hold it on a hard wallet is what keeps the whole system honest. It was when all the banks were subject to a central bank that the problems really started up until that point. In Europe,

at the end of the 1800s, Europe was very prosperous with their bank system. It was flawed, obviously. But the only reason that they were able to fund the First World War is because all of those banks have been gathered under a central bank. But when we apply it similarly, it's the fact that we've got people who aren't subject to those centralized controls. I mean, over time,

they'll probably try and capture some of those loose cannons. But it's the fact that those loose cannons exist. And it's possible for them to exist. And it's the fact that those Bitcoins can still be traded between individuals that kind of keep the whole thing accountable. So even if not everybody can use those exchanges and not everyone can have KYC free Bitcoin. There is some KYC free

Bitcoin and there are people holding it on hard wallets as partly what gives it its reputation. And that's a very good thing. So I'm very grateful that local Bitcoins existed when it did. And I think, again, back to your original question, would those crimes have happened? Well, the thing is, the problem with the crime is, you know, who decides that it's a crime. You know, if

it's someone's money, who's to say that he's buying or selling too much? I mean, why is it anyone else's business? That kind of calls into question a lot of the laws that are being made and how reasonable they are, which is a whole other conversation that a lot of people are having right now. So, so no, yeah, maybe it did allow it. But is that a

bad thing? I'm not so sure. And in a way, like you're saying, they were kind of pioneers. They were heading the Bitcoin ground. They were creating this non KYC world. I think in many ways we're talking about the original local Bitcoins. It had changed and shifted and accounts and gift cards and all kinds of other things throughout the years. But at its core, I think what

we're talking about is kind of that new Hampshire libertarian, the Shire Bitcoin people trading amongst themselves. And like you say creating these KYC Bitcoins and that it's sad that Bitcoins lost that. But in many ways, it's already been gone, you know, for years and years before this final closing happened. Like this isn't, you know, a real thing is more of a thing that's already been lost.

And I think that goes well into the exit. So, I think that's a good question. Ian Freeman, early Bitcoin pioneer free talk live, not pictured here. One of the so called crypto six has been accused of tax evasion and money laundering using the local Bitcoins website as well as his own Bitcoin kiosks similar to Bitcoin ATMs. But apparently with a wallet inside them, which makes that

different than a Bitcoin ATM, I guess. He's on trial for more than $10 million in the market. And laundering and it doesn't look good. Dan Eve, what do you think about Ian Freeman and his trial and how this kind of intertwines to the end of the local Bitcoin era? Well, he's one of the, you know, the main kind of early, early stage Bitcoin libertarians and the

fact that he's on trial. I mean, obviously, he has, there's a few things about the case where he said like, I don't pay tax and don't want to pay tax and tax sucks. You know, so he's basically being done. So for the tax evasion kind of like how they got alcohol, right? But obviously different, completely different scale. So it's sad to see like such an early

Bitcoin or in such a pioneer. You know, go, go down or potentially go down it looks like it's that you know the access swinging pretty hard and a few of his sort of close. Equations of turned on him as well in the trial to give evidence against him. So that's really not looking or not looking too good. But ultimately it goes back to the city. Like,

you know, local Bitcoins isn't the bad thing in this scenario. Even if you were to say that what Ian Freeman did was wrong, local Bitcoins isn't the bad thing. Local Bitcoins is at all. It's something that people use. It's not the, you know, it's like saying it's exactly the same saying, oh, the internet's bad because someone used it for bad things. Like, no, you can use

it, but, you know, you can use it for good or use it for evil and someone chose to use it for good. But, but someone saying it is evil. So it gets even more complicated. But no, it's yeah, the trial started in December, right? But there's not really been much news about it since. So be interested to see how that pans out. But it seems like

they've kind of, you know, he's going to probably get done for at least tax evasion of sorts in some way. I'm not sure about the money you're doing. It's likely to cold in New Hampshire for the trial to continue the wheels of justice run slowly in the winter. Ben, Arck, what is the thing about Ian Freeman and his trial and the trouble that he got from

that darn website, local Bitcoins? Yeah, I mean, you can't. You should ever go on podcasts and say, I don't pay my taxes and you shouldn't pay a taxes. And I've got millions. And I'm using this Bitcoin thing, don't pay a taxes because they're going to get you. It's the same with McAfee. That's why they went after him. He just, he's too loud about his not paying

taxes. All, you know, and then he thinks certain of death and taxes, just pay him. Just, it sucks. I know whatever. But, you're not going to be able to do any good from jail, right? But anyway, unless, obviously, I'm going to assume something really horrendous. That maybe resiled them. But I mean, it's just, it's a fight. You're not going to win. Like they'll make a matter

of you. And this is what's happening with this guy. Because actually it turns out that he was a very responsible Bitcoin trader, Salah. And he would, you know, if he thought someone was going to use their service, his personal trading service for something. And he didn't trade with them. And actually that happened. They put a, there was an undercover cop. We tried to try to try

to make a trade with him. And, and I think I said, I suppose alluded to he was going to use it, use this service for something dodgy. And then Freeman just blank out, refute, refused to work with him. So there's evidence there that he was as responsible as anyone could hope for him to be even KYC this customers. He's going through the local Bitcoin's platform. And

he KYC, his customers. But yeah, it's just this, this, this issue was the tax thing. And that's why they're going after him in the China throw modium. I imagine a lot of these charges will be dropped because actually his defense is very good. And they're just, they just keep saying the same things. They just keep saying that he was as responsible as anyone could be trading.

And the anyone who was like, one example, I think some old lady, she also load a money. And then that the person who stole that money, we like tried to move it through Bitcoin. Bitcoin or something through this Freeman guy. And Freeman's defense law very rightly pointed out that, you know, where's the bank manager who let this woman's bank account? I think it's a couple hundred

thousand dollars be emptied in a matter of a couple of days. Why was there no checks and balances there? You know, so yeah, it's it's a good look to him. I really hope, you know, he gets through it. And I hope the drop all the charges is probably pretty fucked over the tax. But yeah, hopefully I drop the rest of it. And you won't do that

much time. And I still got enough money probably to pay those tax fines and get that cleared and sorted and that fixed. Good luck to him. The free States projects, famous Robin Hood parking program where they pay other people's parking meters. Now reminds me of Ian Freeman here. Victoria probably the very person who created your non KYC Bitcoin is now on trial for it. Is it

Robin Hood, Prometheus, Sisyphus? Are you trying to equate Ian Freeman to one of these Greek, Greek myths? He wears sandals. He has dirty feet. He's been accused of liking underage women. I think he has a lot in common with the ancient Greeks. He's why not. Yeah. Well, sadly, I'm not that familiar with who this guy is. I've not read it. This is the first time I've

heard about him. So, um, it's difficult for me to tell and also my knowledge of Greek myths is fairly sketchy as well. So it's probably not. I'm not the best qualified to ask this question. But, um, yeah, I mean, you know, the world is the world is the world and, you know, there are always going to be outliers and we need the outliers because that's what

makes us a creative society. And, you know, he was doing innovative things and, and following his, uh, what he felt was best. But I agree, you know, going publicly saying you're not going to pay taxes, asking for trouble. You know, I think if you want to challenge that, that's definitely a collective effort. Otherwise, just putting a, uh, a target on your head, aren't you really? So,

um, so yeah, you know, I admire his, um, courage, but not his stupidity. I agree. I think there are no tax things a bit like Sisyphus who pushes the rock up the hill. Only to have the rock roll back down and then he gets to push it up again. Uh, exit question to the exit question. Really quick. Danny. Will Ian Freeman go to jail, predict the

future. Yes or no? I think, unfortunately, yes. And just want to add on what Ben mentioned about the fact that he rejected the, the, the dirty money. The worst part about that story from what I understand is that they basically after they rejected them. About times when an early and crew mates told me that they were Affairs Central Union country like, uh, Uh, uh, you want

the Americans who have growing family and tricked him via faking different profiles to be able to transact them and then went, uh, he transacted with error in personal like. Like, and like, how's that fair. Like, you know, he said No, he's he, you could tell that his morals were there. So, it's he actually made. I don't want to tell the details. But a friend of mine

had a similar situation. Where he was offered too much money. And he said, no, a lot of entrapment in these, uh, very important money laundering cases that are going on. So Dan, will he go to jail? Oh, yes, that was it. Yes. So yes, unfortunately. Yeah. I think so. So, and our guess or no, Al Capone goes to jail. Go to pay taxes, definitely taxes. Can

you go to jail? He's going to die. Uh, hopefully not, you know, but jail for a short period of time and then death along a long way away. But it's going to happen. Kill an Ian with Shakespeare. Victoria, are we united to agree? Poor Ian's go to jail. Well, I remember hearing a long time ago that there's a difference between a criminal case and a civil

case. And apparently not paying your taxes is a civil problem. So unless he's done something criminal, not necessarily might get a big fine. But would he necessarily go to jail. So, you know, as I say, there's first time I've heard the story. I don't know the intricacies. Um, but if the only thing he's done wrong is not pay his taxes. And he pays. He's a whopping

great fine. Then maybe he won't. I think much more like SPF, all he's guilty of is youthful exuberance. They saw a beautiful market of Bitcoin ATMs and thousands and thousands of dollars. And they thought, Hey, why should we pay taxes or follow any regulations? We can do whatever we want. And unfortunately, that's coming to bear. As Ben said, you've got to pay your taxes. And again,

that's a huge debate. We won't be having on this show. Moving on. World crypto network.com has more than 3,000 and 31 videos. That's three months, 14 days and 12 hours straight without sleeping. It's been nine years, one month and 25 days since our first video. You can check them all out at world crypto network.com for free. Free. I kind of like it in a way. Like

the that when Bitcoin finally gets around to an FTs, it's actually, it's not just a, you know, a signature like a city signature signing some picture. It's, it's actually in there like it's burnt sold like inscribed as they say into the into the Bitcoin blockchain. It's filling those blocks up. And it's funny because you get people like loose just you and you who are complaining about

it and saying that, you know, if the waste of space, I know if that block should be small. And it's like, well, you kind of got your, your wish, like there's less room for transactions now and fill in full of pictures. So effectively, they are a little bit smaller, right? They just, you know, but there's a really good thread by wax. He's a friend who's, he's

on Twitter, I don't think, but he does a lot of the Bitcoin dev stuff and works on a bunch of, I think, works on a bunch of Bitcoin libraries and works. We're going to have a very good point. He says, there's nothing you can do about this. It's absolutely pointless complaining about apart from obviously you can voice your, you shouldn't be using blocks for this. That's

fine. He said the thing, the only thing which was worrying about the ordinal's project, but again, he can't really do anything about it. But it's just a worrying like side effect or worrying. The property of the ordinal stuff is that you can like trace satoshies and you have more traceability within the blockchain and in. It could mean that a government would require that if people are

using Bitcoin in the future. And that's something we should be actively challenged and we should try and figure out a way of stopping. But people putting it on the blockchain, whatever they want to do that, they can plug it up. And I think like, yeah, 11,000 is an incredible number. And people paid for those 11,000 pictures or 11,000. Well, I suppose it could be anything. It

doesn't exist in this case. It could be JavaScript code and all sorts of stuff. But people have paid to put that data on there. So clearly there is people interested in it. And I think it's going to be the thing which kind of gets this next phone where we Bitcoin, sorry. The cycle started is the NFT stuff from Bitcoin. And then it will, you will switch

to more interesting things. But I think it feels like it's kind of getting the Bitcoin word out there. People are interested in normal people are interested in it. So. Victoria Jones NFTs on Bitcoin. Is this a good thing? Well, I think what strikes me as interesting right now about this is it's difficult for us to really see the long term consequence. Because Bitcoin, we've only been

around Bitcoin for like 13 years. You know, if you think that if Bitcoin carries on and it takes off in the way we anticipate it will take off in 100 years, this is the historical record. And it's an immutable historical record. And there lots of rumors going around at the moment that, you know, the history that we know and understand to be our history. They're actually

a number of flaws in it. And of course, they always say history is written by the victors. So, you know, how accurate. Is our distant history. And of course, you know, we've now got an opportunity for that history to be written onto the blockchain and into our money. So, you know, that's an intriguing idea, I think, and one that's potentially valuable. So, but of course, you

know, there's been lots to bait over the kind of images you could have. I mean, some people have been commenting on the fact that you could have pornographic images on the blockchain. And then of course, you're immediately making anyone who runs a node of criminal because you're harboring. So, you know, so that becomes an issue, although even if it does become illegal, how are you going

to shut down 130,000 nodes or however many you've got right now. So, you know, so there are some interesting philosophical questions that go along with this. And I think the third point I'd like to make is the fact that, you know, what we really need Bitcoin for is to be a new form of money. And of course, although it's very exciting to try to make a

new one. So, you know, I think that's a very interesting thing to do. You know, I think that's why these new and different things on Bitcoin, you know, what we don't know is what we could potentially do that might break it or, you know, cause a problem that's unresolvable. Because so much of this is new, it's never been tried before in history. And, you know, as

Mark Twain says, it's not what you don't know that gets you into trouble. It's what you know for sure that just ain't so. And there's so much that we don't know about how this is going to pan out and what could potentially be caused a problem in the future that, you know, it's tricky. It's tricky. So yeah, those are my thoughts on the subject. Dan Eve,

we're talking about ordnals two weeks in a row. It seems like early NFT pioneers like Curio cards, rare Pepe's and spells of Genesis. We're right about something, huh? Well, even like how finny writes and suggesting well, he's using Bitcoin for it. But the idea of cryptocurrency. So it's a very graphic proof of a, of an asset. So it's it's, you know, for all the diehard Bitcoiners,

especially the ones that think the how finny was, was, it was, is satoshi. Yeah, they're, they're probably causes a bit of cognitive dissonance right to say the potential, you know, big big guy was actually into NFT's in some sort of way. But the cool thing is I think like the fact they've got to do because obviously do when it came out was like less than X

megabytes, right. So that you know, if you want to get that kind of thing, it's like, I think it's like, if you want to get that out of you, I think it's like a big, if you want to get that out of you, you know, you can get that out of you. Yeah. So that's a big, if you want to get that out of you, you

can get that out of you, you can get that out of you. You run doom on Bitcoin, essentially, and there's even like a site where you can actually go and play doom. It's not a primitive version of it. But like Victoria said about the, the usage of the blockchain to, to store indecent images. And there was, I think as early as 2016, 2015, 2016, when there

was an article about, I think that elliptic, the company elliptic where they were, they were partnering up to make sure that Bitcoin can't be used as a child porn store. And storing, you know, in penitural, my penitifal, immutable storage for indecent images like that. So, and that was back before obviously you could literally store an image on it. So now you can actually store images and

those things kind of those articles reignited in around 2019 about the fact that even though you're not storing an image of whatever it is this awful on Bitcoin, you could be storing a record. So, I think that's a reference of it to some to some extent. And therefore, that could make, you know, holding that image or holding having the version of the blockchain. I mean that

you're distributing child porn in some way. So that's obviously really bad. But what's cool. I think it's quite funny about that not that part what's funny about something else. So all together. Because my notes were all missed. But it's the fact that like everyone's saying, oh, and the secret to tap root is going to make, oh, you know, it's going to be defy but done right.

You know, I mean, it's going to be defy but done right. And what they got actually was NFT is done right. As Ben pointed out, you're not storing a reference in the image or a hash of it. You're storing the actual image on the blockchain. So they wanted defy done right. They got JPEG's done right. Which makes me chuckle a bit. But good point also about

the fact that Luke Dashier wanted like smaller blocks. And now he's getting them to a certain extent. But the fact is the block, you know, obviously it does boost transact the cost of a transaction. So, don't know if anyone's noticed, but the cost of a Bitcoin transaction has been about $1 to $2 recently. So that's been that does obviously impact on the, you know, on people

wanting to sell, send small amounts. But the fact that you can now actually immortalize text images code, whatever on Bitcoin, I think makes it extremely exciting. And you're not just, you're not just storing a hash of it or a reference of it, you're actually storing the entire thing on the blockchain. So, it's very exciting and it's good for the fee markets, especially given that there's still

the argument ongoing is to will the fee market be enough to keep Bitcoin alive once the block rewards go. Exit question. Ben, Ark, will the Bitcoin developers change the way that Bitcoin works to end Bitcoin ordinals? No, there won't be a word to me like with the name service stuff back in the day when stars, you didn't like that. And it's a name coin. That was

possible, but now it's just not possible. There's enough people who like it. And if people, people, this is the point of having, you know, a sense, she was instant ledger decentralized ledger is that people can put whatever they want on it. And I personally feel that it's a complete misnomer to think that on chain, should be used for money. It can never scale. It's never going

to be able to be used for money. But it is a great thing for pegging stuff to. And an ever to be used in the future blocks will be full. And they will be used efficiently, but when it comes to the money side of it. I think that will be an off-chain experience. Unless you're sending vast sums of money, then of course, use a bit coin

on chain transaction. But the Bitcoin blockchain is going to evolve and it's not what you can do about it. And the developers couldn't stop this behavior. There's 11,000 people want to use it that way. So you know, we're not 11,000 people, but there's been 11,000 transactions. So you're not going to be able to get in. We're willing to spend money using Bitcoin this way. It's not

going to stop it. Victoria Jones, will the developers shut ordinals down? Well, considering I'm probably like the least developer person on this, on this show, I'll bow to Ben's expertise on this subject and say it's highly unlikely. Then we'd have nice empty blocks if it weren't for those kids in there, NFTs. Well, doesn't this go down to the argument of will the miners like vote it

in? And if the miners are making money off fees, then are they really going to say no? Like it's game theory, right? It's the simple free market in moving. So they've got to convince a lot of people about the moral side of not storing, you know, images on Bitcoin versus the monetary side. And let's face it, you could, you know, miners obviously could turn around and

say, I'm secure, you know, I'm mining to secure the Bitcoin blockchain, but they're ultimately mining for profit, right? That's what they're doing. So if they can get more profit. But just a few other quick things, like someone said that we'll only if every transaction had a had a JPEG, it's only 200 gigabyte a year, which is actually really quite small, especially, you know, the size of

hard drawings, I just love that bad, right? And also, also just funny that seeing the turn of, you know, every single like little event that happens, you see, you see a little maximalist turn round. And so suddenly like, you know, there's quite a few now that are going, well, NFT, whether we've got NFTs or Ethereum, awful, terrible. Now they're going, well, they're not actually that bad,

you see, now that they're on Bitcoin. So it's interesting to see all these people kind of you turn and say actually now that we've seen it done on Bitcoin, which is making you done better, of course, let's face it, it's stored in more to the on the chain. Yeah, we're seeing a lot of you turn. So I think it's kind of good for the ecosystem. And

obviously all the methods that are now that are now actually running a Bitcoin node, that's really positive. So many people quoting how finny all of a sudden to defend NFTs that never happened before. I don't know, they better watch out if they put an image of Muhammad on the blockchain. That might be a mistake. There's all kinds of other target points. This could be a whole

new attack on Bitcoin. Bitcoin carries child porn. That's all you got. That's that, that's that, I mean, that, that's the story. We've covered that story. Thank you. Three or four times. I swear. What wasn't the child porn like ASCII before? Like you put in the little, the button. Yeah, but it's still, it's still. You can put horrible messages like the, you know, any kind of thing

in there, any kind of horrible text, but now horrible images to we're working on video next. Moving on to issue four, the Bank of England and the Treasury think the United Kingdom is likely to need a digital currency. The telegraph reports. Yes, the era of CBDC's central bank digital currencies may now be upon us. Victoria Jones, what do you think about the Bank of England's announcement

that they should pretty much make a copy of Bitcoin, maybe it would be a little bit more favorable to their interests. Oh, you know, can there be a worse story? I mean, on the one hand, I mean, people have been discussing this for this for a while now, you know, the idea of CBDC's. I mean, I remember in 2017, the UK government was very excited about

the use of distributed ledger technologies. I mean, they've got every single area, you know, they're already looking into that. But of course, you've had the chairman of the Bank of England, Andrew Bailey, who said what one or two years ago that anyone who invest in Bitcoin be for petalose all of your money, but oh, no, now they need a central bank digital currency. You know, it's

like, as long as you have our currency, it's okay. But if you're investing in anything else, then it's not. And even in the article, they say, you know, we need to address it. Otherwise, big tech is going to be taking over money. It's like, yeah, that's the point. That's what we're trying to do. So, so yeah, so the I don't know. I think I can well

imagine. The solution is, I mean, I was listening to a podcast with someone who works in property the other day and he was clearly talking to his friend who works in banking. And the friend was saying, well, you know, the solution is going to be CBDC's. And then we won't be able to write off private debt, but we able to write off country debt. And that

will, you know, reset reset the, you know, the monetary policy of the world. And it's like, dude, you know, the reason why we have a wealth inequality is because the way in which the law is a set up. And if we have a CBDC and the way in which I mean, I've got no confidence that the laws you would set up around CBDC's is going to

be any better at all. And of course, if you write off the debt of countries, you know, one person's debt is someone else's assets. So, you know, I'm sure they're going to, all the people who own the asset is going to have something to say about it. So I actually made a comment at the bottom of the bottom of the video saying, you serious. You know,

if this is, if this is your only solution, then seriously, we are doomed. That's not going to stop them from, you know, fighting that battle and trying to convince us. That's what the way it goes. I'm absolutely convinced now that, you know, Bitcoin is as solid as it is and how long it's been around. It's the CBDC is not going to succeed. They're dead in the

water. You know, they're not, they can't even, you know, produce their own, you know, their own technology. They're not that good at producing computer software themselves. I mean, it's like they paid millions to upgrade the NHS, you know, software. And then completely failed with it. So, you know, one of the chances that they're going to create a successful CBD, see him. And if they create one,

it's probably going to be on a theory in which exists already. And, you know, already aware of, you know, what the floors are there. And how it's less decentralized and Bitcoin. So the argument makes no sense. But while they can get away with it, because most people don't understand these things, they will try and get away with it. And of course, it whips people into a

frenzy. And the one way you can tack and it's just like, well, do you really want to wallet that the government owns? And they decide that if you haven't spent it by the end of the week, they can empty it. Or, you know, if you don't, if you've been a naughty boy this week and they decide to, you know, put, put a black mark on your

wallet at the end of the week, you know, I mean, it's the kind of thing that wouldn't happen tomorrow. But if you allow this kind of thing to progress, that's easily where we could end up because people don't pay attention. And they have very little ability to influence the government over these minutes. Nancy Curtis lives with 2991 partido area. Chad Lewis, MIT e'Connor Halleckon, IT Director,

Karl Watson, PA has ER works that have made an easy choice to bring back this job. Evil struggled with them. So sans, ins ktrzy look a scant at the article going seriously, but of course it's only us who've been discussing and learning about Bitcoin for five years, who understand some of these issues in depth and understand what's bad, but most general public have no idea. And

they're so easily convinced, especially if some of the posh voice, who sounds like they're from the Bank of England tries to tell them this is what we need to do next. It's just like, okay, this is the fight is. So yeah, it's going to be interesting for years, I think. I do love the idea that if you do it with Bitcoin, you're going to go bank

drop. But if we do it with essential currency and we're going to write off debt, it's a genius move. It's great to see that shift quickly, but they were very clear in the first amendment. The bank said, instead of CBDCs. Because of control, power, manipulation, all the bad was that were associated with the central bank, having more power. To do crazy stuff like, as Victoria said,

but like, you know, integrating into some sort of social credit system, where it becomes this black mirror type episode, and you say something mean about Rishi Soonach, and then like suddenly you go to the shops and you can't buy your groceries or whatever. Like it's not actually that is really not that far fetched. If they got their kill switch on your account, then it can be

done. They can do credit cards. But there's just less of a kind of relationship with the central bank and a credit card company, whereas if the central bank owns the infrastructure that actually creates those payments, then they can do basically what they what they want. And as again, Victoria picked up on the Bank of International Sentiment, said the CDB, the DCs are needed to modernize finance

and ensure big tech does not take control of money. And whilst I agree that big tech specifically shouldn't what the actual cryptocurrencies do is allow the people to control the money. And you know, you could argue that big tech is at least more decentralized than a government is in in terms of they've got more variety people of working for them. Then the government, but regardless, having

the people control the money sounds like a much better solution, which is why Bitcoin was invented, because of all the the the dibble tabling of central banks. There's not really reduced much much goods. The arrogance of the Bank of England saying, well, you know, Bitcoin's terrible. But if we do is if we do a digital currency, we can do it much better. And again, as Victoria

pointed about the NHS and most recently, the biggest one was like the wasn't the billions they spent on on the track and tracing or whatever, like in contracts, they're just completely different. You got floundered, it's just insane. So to have that it's so arrogant to think that, you know, this small, this small collection of minds that are just put in a place rather than people that

contribute things and what are the only the meaningful contributions actually get put in from from around the world. That should be what's controlling our monetary system, not just a bunch of people who are employed. And so you actually get more fun enough. You get more diversity doing that way. You get more walks of life. You're contributing to this, this, this, this new time. I don't know

what to use the, the slippery slope thing is I've always seen it as a logical fallacy, but, but, right. There is a hit, but there's in certain context, context, it is quite true. You know, like this small, this small overreach becoming bigger and bigger. And there was a quote I can't remember. I can't create it here. But it's like, you know, Nazism didn't happen. I hate

to do the call to the Nazi, which is another logical fallacy, whatever. But anyway, the Nazis didn't happen overnight. It was a big deal. It was small, incremental things that eventually led to it. And the more and more control you give governments with, with, you know, even plans we had the we're seeing now with the, what they call it, the environmental lockdowns that they'll do they'll

be doing. So you know, you won't be able to travel outside of scum thought unless it's on a Tuesday evening, all that crap like it's, it's, it does seem like it's kind of snoopy and in these conspiracy theorists, they, they do kindness. There's some of these things that are turning out quite well. Quite true. But ultimately, letting a central bank have caused all caused all this

hassle with inflation and all the crazy business since they took away gold as gold standard to control money. Again, it's like, you know, what's that saying that George Bush said once very famously full full a man once full a man twice or something or other like that. But yeah, basically don't be an idiot twice. Don't let them have our money twice. Uh, we want shame on

you. Yeah, fool me twice. Same on me. I'd prefer the George Bush. Again, a full man get full again. We've got to make the pie higher. Like dad was saying, sometimes it's not a slippery slope, but you're just standing on a greased hill. And black mirror, that's some real horror. That's like some scary stuff there. I'm afraid to watch that. Remember that episode with a social

score and the woman got excluded from everyone and they voted her down and she brought them donuts and they're like, she's trying to, you know, buy our love, vote her down more. And all of that's like, I'm just a freedom. So people have this liberate, you know, this free money free and open source money which they can move to if they need to. But I think

different people different needs. If you look at the 2008 financial crisis, and if you look to ice sensibility to balance out side by money production, which Greece didn't have Greece was part of a barrel because they were in the euro zone, ice is one much better off. And they're basically in the exact same financial positions at the beginning of the crisis and ice homes, over to

bail themselves out. You can't apply the monetary needs for different countries. And I assume that even even if there is this like utopian concept, whatever one uses the same money, or the same, the same thing is a medium of exchange. As soon as there is a great depression in the country, they'll produce money because they need to create fiscal stimulus and they need to create wealth

and they need to keep the the wheels of the economy moving. So this Austrian idea that people will just suffer for a decade, they can end up with more efficient markets is just nonsense. But what we do have is the power now for countries if they do opt into building. I don't want to, you know, like a CBDC is obviously essential. Central bank digital currency. I

think what would, what was better to think of is a sovereign, sovereign currency, digital currency or sovereign digital currency or something in SDC maybe, which is, you know, like the British Pound say on big, a British Pound as a digital currency, but not something which the central bank control, something which the people in brick control. And then they can have it work for them in the

way, which they want it to work for. But absolutely built on top of Bitcoin. And this is how I imagine the intermediate part of Bitcoin's journey, which pulls in all the wars liquidity. And then eventually makes Bitcoin so incredibly stable. Then why wouldn't anyone just use it on the base layer? But I don't think you're going to get there. Unless you have stable meeting with some

exchange, people are going to use Bitcoin for that. And I would rather those things be built on Bitcoin, rather than built by some central bank or built on something like Ethereum. It's an inevitable next phase of currencies that we're going to have a mass digital currencies. And yes, you have got Bitcoin. There is an option, but currently it's stability is so terrible. And at certain points

in time, current different countries need, you know, different currents. If they need, then their soft currency requirements or the current currency needs of their soft currency changes independent from other countries. So I think all this stuff will be built on Bitcoin. Essentially what I'm trying to say is all this stuff will be built on Bitcoin. The central banks are terrible at building these sorts of things.

They won't be able to do it. All these things will be built on Bitcoin probably by poor nations to begin with, which will be great. There are Salvador's of this world. They'll make the Salvador dollar on Bitcoin. And then when we get some decent recipes for voting such things, then all the other countries will follow suit. And then all these big countries is trying to do

with their city central banks will stop doing this. And they'll do it in a way which the general people control probably through democratic process, like some sort of federated thing. I don't know. But anyway, I don't think it's just going to be Bitcoin and nothing else. Not for the immediate future or the medium term future, maybe in the distant future. But yeah. Exit question. Everyone knows

how easy it is to program your own Bitcoin and blockchain. Just look at it. Facebook Libra or the IBM blockchain. How soon will the UK have a CBDC? Will it be within three years, five years, or never Victoria Jones? I have no confidence in their ability to build one. You mean you've got how many developers working on Bitcoin? I mean the Bank of England's almost bankrupt.

They can't afford any developers to build anything remotely credible. And given their chat records. I just don't believe it. If you had enough monkeys and they were typing for enough time, they just might type out hamlet. Maybe that's why they invented chat GPT. So they could help the Bank of England create their digital currency. They could build like Victoria saying, I do have is lots of

confidence that they think they can build it. And they'll do so anyway. And they'll be like, go in all guns blazing and do something silly that they'll regret. Then arc three years, five years, never. And do you think the currency would be more widely accepted if it featured like beetles or a little yellow submarine character, something like that? I think that they've just repuse. But the

Bank of England is just, produced a report saying that it's likely at the end of the decade they might make a central digital currency, central bank digital currency. So if it's taking them this long to just make that report, I'm not sure they're going to get a few of us as anytime soon to actually make the software. If they do actually to be fair, the UK

government do have some pretty good website like their web polls are pretty good compared to another. If you ever deal with like workers countries, governments, websites, they're awful. And then the UK they're refreshingly good. So they have a good tech team there, whether they can turn a hand to producing a central bank digital currency. I don't know. I want to, I want to give actually is

I reached out to Gnutala. And Gnutala is a eCache project, which has been running for like 10 years. And they specifically pitch their academic. So they've done loads of, you know, paid produce loads of papers, those good scientific work on eCache. And they specifically pitch. And they're trying to make eCache in a way, which has like checks on fraud and stuff and can be. You can

use it. You know, so you can't be used by criminals or other stuff. And they've been pitching it directly. Central banks banks for a decade. They've done great work. I had a call with them a chat to them when we were building the cashew eCache and fedement with the to do with the fedemain stuff as well. And I was like, well, this project has been around

for 10 years. They've probably done a lot of cool things and I think it's going to be a lot of good, I think it's going to be a lot of good things. They've got a lot of wisdom to impart, which they did. But them trying to pitch that to the legacy world, they just didn't care. Like no one cares. And no one cares about their project.

None of these central banks care about their projects. No one's interested in what they've got to say. And they're like the world's, you know, thought leaders on this type of technology of the sorts of technology which be employed to make a central bank digital currency. So yeah, it's not going to happen anytime soon. There's very minimal, you know. Yeah. The answer is never the United Kingdom

digital currency will be written by Microsoft. Yes, Microsoft. And when they put John Lennon, General Lenin on the British pound, he'll truly be bigger than Jesus. We're running out of time. Victoria Jones, do you have a prediction or a story of the week? Go ahead. I don't have a prediction. My story of the week is, I'm currently working on an article talking about CBDCs ironically, as

we're discussing it today, the title is going to be digital money versus digital law. So Bitcoin being the money and Ethereum being the law. I'll go into that in more detail. So yeah, if you're interested in that, you know, can sign up to my newsletter on my website. So to she's page.com and hopefully that'll be out soon when I get round to it. As everyone knows,

CBGVs originally started out as a bluegrass. It was like fun, bluegrass music. And later the talking heads, their bones, blondie, so much to look forward when they bring back new wave music. Dan Eve, do you have a prediction or a story of the week? My story of the week was that I've been to obviously many cryptocompromises and especially during the market, the pool market is they're

pretty extravagant. But went to ice, the eye gaming one in the Excel Center in London this week. Wow, it's pretty crazy. The whole Excel Center, absolutely like rammed, really cool conference. Lots of crypto companies there. So from payment companies to crypto casino type places. So like they make games like slot machines based on crypto punks and things like that, which is really quite cool. And one

huge bonus was that I got a random text message while I was there. For Ben. And so I got to meet up with Ben and have a little mooch around ice and then a few drinks after. So it was nice to catch up with Ben in person. Another cool conference. I think the key to go into conferences these days is that they're web three. There's nothing

but money in web three. And of course, as everyone knows CBGVs in New York City was torn down and replaced with John Varvato's a fancy upscale close. And then the other company frequented by people like Howard Stern. Ben Arck, do you have a prediction or story of the week? Yeah, talking about money like when we were there, it's one of those conferences you go to not

like you go to a non Bitcoin conference. And you think Bitcoin's like too big, you know, and it's you come possibly grow anymore. And then you go to like a conference in some other industry. And then you realize our little industry is like this to see what's a little thing. And then they've got this gambling sector. And then it bitcoins infinite room to grow makes you

all feel all bullish, particularly because they're all based on the basically like, you know, tending towards using Bitcoin more more like Dan said, there's a lot of heavy heavy on the old word of the old use of the word crypto. But clearly there's interest in people like using Bitcoin and these are the one of you call them in their gambling industry. But yeah, it's cool. It's

cool to capture it with down. And I was I was there looking at Bill acceptors because I was no one is. So because I just picked a bill acceptor for the ATM, the lightning ATM. And I just used that and then everyone's been using that. And I'm like, is this the right one is the best one. So I went and I realized that they had all

these like slot machines and stuff. And because it's like a gambling. Expo, there's also like people interested in hardware. So Bill acceptors coin max those sorts of things sorts of things put into slot machines and you know change machines and all those sorts of things. So I was looking at that found some cool bill acceptors found a really great one, which I said she's not going

to be a good guy. So I'm probably going to switch to that. But yeah, it was great. That's it. I'm going to copy down the same was the ice ice 2023 quite spectacle. Although they didn't get the moment. The memo about booth girls. They had a little booth girls and I thought did feel like I was in the right decade. But I guess that's the gambling

industry. They don't care about these sorts of things. You know, people's modern concerns or whatever. It's good. It's great. It's super bowl weekend in the United States. Of course, we've got our all United Kingdom. So I'd be remiss if I didn't ask you who's going to win. It's okay if you just pick by mascot who you think in an actual fight. It's the Kansas City Chiefs

versus the Philadelphia Eagles Victoria Chiefs or Eagles. What are their mascots? A chiefs and Eagles. Like the bird Eagles or the Native American chiefs. Which I'm glad you asked that question. I'm glad you asked that question. I was about to ask. Yeah, I was almost going to ask it. Go for the Eagles because they're majestic. All right. Eagles. Dan. Are you going with the Eagles or

the chiefs? I'm going for the Eagles. One of the coolest bands ever. Although it's probably not the Eagles that are the mascot is the act. Oh, that's my question. Is it the actual Eagles or is it's an eagle? I like the idea that it's the band. It's like the anti-lap basket. I just take the F and Eagles man. Ben Ark Eagles or chiefs. The Arkansas. The

Eagles. Feathers. So they're going to obviously win. We've got a mixed panel. I'm going to go with the Eagles. I'm going to root for a good game and I'm mainly going to enjoy the commercials and eat a bunch of food. So that's super ball over here. But it's probably on it like the middle of the night for you guys. So you'll learn about it later. And

then the commercials will haunt you for months afterwards as Pepsi and Bud Weiser and others spend tons of money on very creative, hopefully creative. And hopefully funny and entertaining commercials because otherwise you have no choice because they're going to be on anyway. So. And I just think was it last year that we literally last year that we had FTX. Like the big Super Bowl commercials were

the crypto ones. Right. There's FTX. There was Larry. Larry. Larry David. That was brilliant. Actually, it's come out of FTX. That was really good. That sounds good. Arm Brady. So I'm told this year there are zero crypto advertisements. So we have gone up and we have gone down on a side note. I'm predicting that one of the major advertisements will make fun of crypto. So I

believe we will be mentioned. But in an incredibly action. I don't have any inside information. That's personal belief. But yeah, we'll see how it goes. Rooting for a good game in the chat. Let us know who you think is going to win. Right Eagles or chiefs. And then later you'll be able to look back and get absolutely nothing. But maybe we'll remember. So. There would be

a later. Imagine if like all the the adverts were just central banks, laughing at crypto currency. Exactly. I can be good here. Absolutely. Absolutely. The absolute classic and ads was after the .coms. And it showed like an empty town and like a tumble weed going by and all this dust. And there was like the pets.com sock mascot. He's just on the ground. Like sad. And like,

if they do something like that for crypto, it'll absolutely fantastic. It's sad that people lost money and all that. But what an amazing thing it could be. But yes, it's. Go over laughs. See go over. Spectacle super bowl this weekend. Thanks to everybody for joining us. Give us a thumbs up down below. Subscribe. If you haven't already, we've been doing these shows for I don't know

nine or 10 years now. So there's a lot more shows on worldcrypto network.com. You can check out. But until next time.