3% of ALL Bitcoin is Locked Into ETFs | Britcoiners by CoinCorner #113

Join Danny, Molly, Zakk and Dave for industry-led opinions on important Bitcoin stories from the week. Topics this week include: Tether are the 16th largest holder of US treasuries, Bitwise reveal public address, US Gov selling Silk Road Bitcoin, Bank of England undecided on digital pound, Grayscale outflows drop drastically, Alaska and Florida ban Binance.US, Swan Mining joins Ocean Mining's pool, Inverse Cramer ETF to shut down, Amazon to make film on Bitfinex "hack", Google change Bitcoin advertising policy, 3% of all Bitcoin locked into ETFs, and German police seize thousands of Bitcoin. Britcoiners is a Bitcoin podcast by CoinCorner (https://www.coincorner.com) - a global leader in Bitcoin and Lightning services. #coincorner #britcoiners #bitcoin #bitcoinpodcast #bitcoinnews

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what's frustrated the hell out of me everybody on Twitter and that is saying oh like you know it's great Google's now allowing Bitcoin adverts no they're not yeah you can't see the double standard [Music] no wayy welcome back okay thank you why does no one else meet my energy um right agenda's day uh tether is the sixth largest holder of US Treasury says pump um bitwise have revealed their public address uh US Government files no to sell 130 million of Silk Road Bitcoin uh Bank of England have not made a decision on the digital pound uh grayscale outflows almost 50% uh Falls almost 50% Florida and Alaska say binance can't serveice residents anymore um SW mining are joined ocean mining pool inverse cre at ETF to shut down yeah oh uh Amazon's making a film on bit finex money launderers uh Google's updated their policy their Bitcoin adertising policy uh the money locked up in ETFs and German police have seized thousands upon thousands of Bitcoin cracking that's a hefty agenda short the ones I had marked were a lot less than that I'm intrigued at some of them cuz I didn't mark him okay thinking I'm not bothered about talking about that well we know this guy's the agenda so probably someone his PR Dave was 20 minutes late cuz he was reading the agenda well was messing around think upstairs rather than reading the agenda he's reading the agenda this as you call it messing around I call it hard work solving problems right bitcoin price uh um 42,600 for 400 down a little bit 4 2,500 is year last week uh last episode was 40,100 yeah up on last up last yeah down since this agenda was printed by $100 right nice that's quite a big up uptic isn't it from a week ago yeah we do do you want to know my theorist to why no not really okay I do want to hear it I think we can all join to the same same same Theory same Theory you'll all just agree with me okay here is with it the ETF tide has turned slightly and now the there there's net in flow rather than outflow and you'll just see a slow creep up now you should tweet that out you get lots of Engagement for tweets like that well that sounded like the worst tweet ever it wasn't even a nice sentence I've seen a lot of tweets like that unfortunately does everyone agree with that you think that's happening now we're seeing it in the ETF numbers AR we gray scales gr scale right down sell offs right down the volumes right down one of the topics was it well do you want to go straight straight jump all over let's go straight into GR can't just stick to the gender order oh I know but I like I like FL okay we talked about it last week about them not changing their fees and we kind of predicted it would slowly just kind of settle down right so grayscale outflows for almost 50% from 500 million to 255 million it's actually less than that now that was yeah I think I read this was from the 26 I think I read something yesterday saying it was up to like 70% now it was like 7% down I think we're about was it 160 million the other day I think about about 200 million yesterday um so yeah it's it's hovering now around or under 200 mil um theoretically we'll maybe drop down to More Than Zero region yeah maybe by next pod we y so alleviating that cell pressure and the you I think you're right there The Bu pressure from the other ones is at the minute it's not really making a massive impact but the point is it's lots of this over lots of time yes uh adds no wants to take this one but it says one of the points was 10 days uh into the ETF launch and we're still seeing 10,000 Bitcoins bought a day mhm good volume still a lot um mostly from the top two or three isn't a really excluding gr SC um she's Black Rock um fidelli and bitwise they still bit wise I think it might have been yeah um where are Franklin Templeton do oh down the bottom Bott List have we they haven't been causing too much of a scene they were they're second to bottom I think in in the race of the minute God yeah weird all anyway but yeah I think yeah you're right coming up to the Haring as well would less than two months now to the Haring mhm it be about two months is April M April 20th a it differs say thee times no this early April was this estimated date I think it was like 12th originally and it down to should I'm man April 22nd that's G to Swan another one I've seen April 18 April 22nd I've seen some that are as early as March end of March have not seen a March one yeah okay April 18 18 same no of March March is too early yeah do know when the when the hash rate because it's just using hash rate to calculate so when the hash rate was like really high these same calculators might have been estima like end of March but now the hash rates dropped a little bit they're now extended so yeah it's a bit bit of a guessing game so yeah April 20th I'm stick early April I think will be the target what do you categorize early April first week of April or before the 10th specifi exactly 10th of April I'll go with 10th of April 10th of April I'm going 20th of April oh Molly I'm going to go mid April jeez definitely not late April though all right just take give me a not late not early give me a freaking day between 10 and 20 like when you trying like spey that you got go I'll go 160 oh okay right between Mikey where are you uh I'll go I'll go 19th and make happy da I say it's gonna be around five o' AM or PM which time to which time zone oh GMP okay right it only feel like four years since the last one no it really does blown by it's it was Co wasn't it four years since Co what it is is crazy what were you doing last Haring day cannot remember you can't remember we were at home were we yeah were we locked down by is man yeah still are we have a Haring may I am the opposite of a pike I'm a 9:00 bedtime girl May 11th yeah I think we were in second lck down by that point oh second been wave yeah so we all just sat home with a little party blower like can't remember what we did did we do anything I don't think we did anything no just passed us by weren allowed to party were we well yeah but we could have had a Skype party if we did anything maybe do some maybe tweeted we probably tweet yeah we tweet we have the socks didn't we the har socks we probably tweeted we probably just tweeted happy har we'll probably tweet this year as well highly like much as Haring parties happening though isn't there no people but I don't think it's seen not kaer had one last time it's really hard to organize you can't nail down the day it's a fluid uh like a there we go yeah come but what is that April 3rd to the 5th bit early so if you're living in Salvador and you're local then yeah but you're not going to fly to Al Salvador for something that you don't know the day think somewhere between the third and the fifth so yeah butly there'll be it's a Meetup it's not a pie how class does a meet up become a pie yeah that's just atude actually that's just you all over not a party anyway we'll probably do something classification right Molly you'll be in charge of that we'll do something right sure I haven't even organized my own birthday party this year does anyone organize their own birthday party anyone else is anyone else I'll I'll organize a party for you oh yeah no I don't think so right uh okay pomp he said tler is the 16th largest holder of us treasuries and at this point they are in a central part of the American Financial economy oh is this the video can we listen to the video or is it is it just that I think it's just that pretty much just say that yeah I think it was just more the it doesn't really matter if it's pump or whatever he's saying on there but I think just being tether being the 16th largest treasury holder um it's it's pretty big yeah it's a big part of the EC can you pull a list up Mike want to see who's around then we want to see all the other China might be number one um but I think it's it's it Nation impressive and how much do they hold then is it is japan1 TR China too UK oh just a there a foreign country list though ah not it might not be a list of of actual holders yeah it's all talking about countries right so what you're saying is that it's ingrained in the American financial institution because it's such a big holder if it has carry sway it has to sell them all or anything happens to it happens to America as well exactly exactly a BAL claim so all the tether haters could be um well I don't know if it'll change their mind but think that start affecting like uh government legislation on bits and pieces because they're so powerful they have a fundamental effect on the American economy it's like they America has to be very friendly to Japan and China if they're big buyer treasuries so thought don't yeah maybe see how that change I mean it's still growing isn't it as well which is crazy um but yes a big part of the economy now in might policy anyway cool okay um bitwise they revealed their public address for transparency uh but it's a legacy one address without multisig and they didn't test sending anything from the address yeah that was Brave yeah but half of half he's like well done to those guys for being so trans arent okay first and foremost well first of everybody's addresses I think are already out there but that's first of all it's a coinbase address not it's not wi but first of all congratulations to those guys first of all congratulations to those guys to being so transparent but the addresses were already out there it's just they the first one to actually announce yeah this is our address I think Arkham had already released more yeah we already had all the address well okay the cats out the bag but congratulations being out there um they could have just retweeted Arkham's tweet of the addresses and then well okay but well done for putting it out there well done for pretending well this is the beauty of Bitcoin really is public in that way um pseudo Anonymous until they someone admits it's their address yeah so there's problems now though yeah funny problems Dan's always funny funny yeah but I don't think a lot of people will be aware of these problems no I I don't know how they're going to react to this I'm I'm waiting so the problem at a minute the address is there anybody can send to it people have already started sending Bitcoins to it which means that is now collateralized with more Bitcoin than their ETF need but only like six grand which is fine yeah people been sending oral to it lots of inscriptions if they have a value on them now they own yeah a million dollar nft oral or whatever you know you just don't know anyway um it's a good way to advertise though isn't it because it's got the address has got attention so you could just put an order on all of my face on there and people be like you think so far it's got no attention nobody cares knew that it was your face you could advertise on addresses that been looked at a lot yeah that's what people do you see that in Span they're just like it's mainly like cyber Punk esque funny which is fine portrait onal isn't it now the bit they're going to get stuck with is what happens when a sanctioned individual and sanctioned Bitcoin gets sent to that address funning games until that happens they have to do coinbase have to lock that down coas being the custodian Lo the address lock the address down and freeze funds report it and and report it um do they have to they'll they can Co control it theoretically out and sort of get rid um of what that is um how does because this is a situation that ETFs and sort of New York Stock Exchange style esque setups I don't think they ever had in in history um it's a new problem yeah but that's just a knowledge based thing isn't it so even rules around it at the moment probably this was Gary gendler's gold mine here to try and help Kick Kick this back more that was like another reason why they could have said no it doesn't work because the address will be public and people can send you think they're reviewing what's coming into that account at the moment were they thinking that just will have to yeah Kus will have to monitor that and Report accordingly so if anyone sends D Market that you could send into a d market and send straight from that to that address if somebody wanted to just to mess around with and I don't know what they're going to do in that situation I don't know what the SEC wants them to do in that situation it's something that they've never come across I'm guessing so some sort of anarchist protester type thing cuz people you're not going to get that Bitcoin back are youing no yeah was my sanction Bitcoin just you're just basically screwing with them a little bit Yeah but some people like to see the world burn it and it's going to happen but I assume there like there's definitely not a framework in place at the moment for ETFs that handle essentially become over collateralized by Anonymous I don't think over colorization is a problem is it no but they do they have framework of rules of what they need to do in that situation it must have surely yeah I don't think I don't think it take too long to put one in place either S I don't think it's I don't think it's it's a it's more of a funny problem it's not a major issue for all Market dark market and sanctioned Bitcoin then it becomes like out of like bit wise's hands it's more in coin bases decision there it's it's just coin bases internal policies isn't it for sanctions and then they're just probably if they freeze it report it they're not going to freeze out they're just like you said why not coin control because they know they're not they yeah b i i don't don't know what polies are yeah we none of us know what Poli really immaterial sort of thing you're talking about it potentially is but you still have to deal with it we still have to deal with them sort of things you can't just say it's immaterial IGN it I'm not saying ignore it I think it's immaterial internal process needs to be put in place for them to review it they control to to remove those but coinbase can't be the judge and juror on if they're allowed to do that no it's it's almost nothing to do with coinbase comes in they'll see it it sanctioned Bitcoin has received into a coinbase wallet they have to then uh report it and do what they do what the SEC and bitwise for example or whoever do is on them really isn't it m so they need need some processes in place funny though okay any and a legacy address is just Legacy address yeah what do you mean by legac it's a one address start with one yeah so it's not a very efficient address so two things yeah it's not efficient If you're receiving into it sending out from it because it's using more block space um but also it's more theoretically vulnerable I'm not going to go down the um conspiracy theorist of the quantum Computing side and things but that theoretically with Quantum Computing or fast computers that can break it one addresses are easy more easily breakable than three or back 32 Etc um so why have they got a one address I don't know is the majority still one addresses aren't they no no not anymore but like that been flipped back so three addresses let's say all back 32 I think combined about 85% something el% yeah one's rarely used these days but coinbase use ones clearly all the time yeah but they've not they've not stayed up with the the actual not really focused on bitcoin call yourself a Bitcoin on busy building their NST platform that is probably going to shut down unless the bull market kicks off and drags something up to it um is it going still the N Marketplace who honestly who cares it's got to be surely I've just not seen anything about it since they launched it launched about a year ago you can't spend that much time on a product and then just not a loads of people do oh nf. coinbase.com like the design that I do like those pixel art for me it's just yeah how's it still better after over two years I'm curious there must be a volume somewhere at some point a nosy for that and was there not also something with that coinbase address that they didn't send a test transaction I was just never spent the coins oh so sent all the Bitcoin in there but it's never actually tested sending out so if they've screwed with not mly theoretically bit less complex but yeah if they've screwed up with private keys and stuff oh they could potentially not be a to send out and we'll only find out when they get to actually do it to redeem right assuming because it's coinbase you know their infrastructure should be should be right yeah I people you wouldn't send that much without a test is most people's thinking I think um just to set make sure it's all been set properly yeah right but let's wait and see strange I can't find the volume cuz on the nft volume thing it's saying it's it's so low it's not I think it the um what's the other other one called what would happen in the case of your ETF custodian lost all your Bitcoin cuz they can't move it um any they can see yeah we could all see it's there but we know it's there um ultimate Diamond hands isn't it that'ss only inflows allow I guess I guess the the the price of the ETF will Plum it it's TR fun so it's going to Plum it um I don't know I've not looked in terms of the insurance side of things because as far as my understand I don't think any of these ETFs have insurance on that Bitcoin um coinbase does no they don't well let's not let's not pretend they do they pretend they do and other people pretend they do but they don't unless they're backing it enough to cover all that unless they no they got $280 million I think it is insurance cover um they've got saying this we this insurance cover in insurance cover yeah 280 million insurance cover um not back and they hold what $80 billion worth of assets so they're not insured no matter what they're insured but they're not fully insured one to one in any sense whatsoever what does their insurance cover them it covers like if they lose keys and stuff like that but only up to a maximum of $280 million and I don't know if that's like might be a million do per claim so anything up to a maximum of 280 through a 12 month period so it might only be like if they lose 10 million they might get a million of that back in one claim but they're going to lose 9 million still they going have to F the bill for that um that you can they're starting to become now more on to one peg insurers that are doing it but it's very expensive so if these guys are doing it they're probably going to have to be paying let's say because of their volume size maybe they'll get it at like 1% or something um but generally about one and a half to 2% to one to one backet a year and then these guys are going to have to put that bill back onto the people buying the ETF which then makes it more expensive right um which they're not doing it at the minute because they're all charging like 0.2 0.3% so we'd like to see a little test transaction out of that wallet just a little I don't want like to see anything don't need to see anything to them this is why you got to respect Fidelity for doing their own C custody of their mhm yeah have we seen their wallet are they using it a one address seen good point it' be Aram is Arkham I don't pronounce that they using the one you'll see EI way you'll see they're all I think mostly because they're one of them using Gemini I think yeah one's using Gemini who called people out for using one dresses making the blockchain inefficient I'd expect to see most of them using like some kind of onchain multi as well that's kind of what threw me off on the bitwise one for again that one was multi-billion dollar assets Lots up yeah you would think mhm um but it is pretty mad isn't it yeah is what it is in some way I guess they could be using some sort of NPC based yeah thing uh around it but I don't know if coinbase do have some sort of they do have NPC they talk about so maybe they've got they use that for everything yeah yes they got Black Rock fidelity bitwise in Franklin templon oh so it has fideli then yeah it does have fideli you can see it there yeah they're using a BC address nice BC BC BC oh there's a one address though there as well that's one at the bottom Fidel using one address yeah no you got a BC address there as well three different ones there black crck is send into a three address at coinbase oh that's confusing I have I'll go we'll report back next week no we won't well we we never do Mike going record you supposed to be reporting something yeah Mikey did your record uh no there was two weeks ago you said you were going to come back to something you did I did yeah the great scale thing you did yeah but I thought you not say oh I have to come back to it next week CU I've forgotten we ended up pulling out made a big deal it the first time we ever have comeback all right you're welcome guys this will be the second time next week means I will come back this one next week get it on the agenda okay um I think I missed this one off actually uh Canadian judge deems the introduction of the 2020s emergency act freezing protesters crypto donations to the freedom Convoy was unconstitutional setting a president precedent for all future cases I think that's mega mega news yeah Mega news honestly didn't see this yeah so they struck a protest a few years ago um they they deemed it a not a no National Emergency so they weren't Justified to use the emergency act yeah the government are going to appeal it though they've said so it's not over yet I don't think it just highlights the fact of like independent law doesn't it I suppose like to to put the hold the government to account so if a government was ever to get tyrannical like this was a loose use of that that's they should never be used it just cuz it's convenient to use it yeah that's what you said isn't it just cuz it's convenient and it works better than other tools at their disposal doesn't mean isn't a justification so like if truckers are people are protesting everyone's got a right to protest well should do in a so it's more it wasn't even more about the crypto side it's more classing that protest as a non-national emergency yeah this is because they can still do it in emergencies with the emergency act they can do what they want so if you remember from this that they set up a GoFundMe and that got frozen then people million was it 9 million million people turned toin but they basically the government got to all these platforms bank accounts to freeze them um so it wasn't a p a PE Bitcoin thing it was a bank account thing um and yeah it's just interesting that that's Now set precedent globally almost for emergency powers for the government's use of hold the government to account there which they are going to appeal so that's we'll see what comes with the appeal was right on my street that article is it all be was it was yeah is that way you're 20 minutes later it's just too busy fighting fires right um US Government files notice to sell $130 million of Silk Road Bitcoin um this one just flagged I think a little bit just to show like okay great people with them kind of not trying to scare Monger a little bit maybe um that oh no there's going to be uh $30 million worth of bitcoin about to be dumped on the market it's kind of like well you look at what's going on with ETFs and that's being mopped up easily at the minute with the ETFs um it's a absolute Drop in the Ocean to be honest in terms of that years ago it might have been a big number now it's dropping the ocean I haven't read this are they planning on doing it on the market or the doing the whole auction thing again I assume it would be auction anyway normally do auction um so yeah you can bid for him can't you so um it's it's not really a it's a scare Mong roomm pointless kind of seized in 2020 yeah I sometimes think they just been hodling since 2020 but but it's probably legal reasons why they couldn't sell it more more than just a hle yeah yeah it's more just the paperwork takes years no house loc of it's taking so long to pro which leads us on to Germany oh whoa where are you going flip it over I hate hate when you jump over the place because the German police German police has used 50,000 bitcoins worth 2.17 billion I think they said they're going to sell that money running just seized itar um so voluntarily transferred apparently yeah by the guy I'm curious I don't even know what this site is and where this be pretty big one come from yeah cuz that's a lot it was from 2013 there wasn't it so you've been running it since then so it's probably I assume collected a lot since that time period um but we've not seen much in the news about this I'm I'm a bit confused on that I don't know people still pirated movies no wow you never did did you Molly no just music answer just screws yourself up so he volunteered to send it to them cuz seizing Bitcoins always mystified me slightly see I think he was arrested wasn't he and then prosecute but then he's then sent him the Bitcoin he knew that he had that so for lenient sentencing maybe probably he's bang to rights yeah I think that would make sense makes me think CU he would have to agree to that so theoretically he could have there season going on really no they always say seize but the headlines are as good if it's criminal sent it's extremely difficult to seize Bitcoin criminal handed over yeah SE is a good word for a headline I it makes them look like they're doing something but really they've just begged him and given him a plea bargain so we should read police beg Polie beg for Bitcoin we should start a News website that re redoes people's headlines into what be saying it's just a plea deal um is there an actual should Community not the article from this didn't see anything I just look there they couldn't see much what's the source from it cuz it's a bit weird is it like much on it at all New York Times but it's a blocked article uh and the rest is just like Reddit and Bitcoin archive and binance I'll read that at some point try and D dig some out um that's an old on isn't it that's 30 m that's nothing 2020 um you going to bring that next week for the it was seized or details on it now cuz we're going to do the other one next week one time May pissy py he's got fir to put out gend um Bank of England says no final decision has been made on the digital pound I I mark this cuz it looks like no news looks like this looks like a non thing right they haven't made said an announcement of a non decision but if you read the details of it they have said if the digital pound were to be implemented primary legislation would be introduced that would guarantee users privacy and control okay so that's it's it's almost like a change of rhetoric around digital Central Bank digital currencies like guaranteeing privacy and control they've also said uh the bank would and government would not have access to personal data and users would have freedom in how it was spent in digital pound so this is the Bank of England putting down right what they need still the to it yeah there's still the problem even if they put that in place now someone can come along and change it million per right if it's there eventually it gets used it's exactly like it's exactly like the Canada legislation where they're using emergency acts for against protest it's exactly the same for your bank I have that than you it's there it becomes like Oh we must we've got to use this it's any any terrorism act it always just gets used in every day but they also said they would protect cash um intended to protect access to cash giving an additional payment choice so there's a few things you wouldn't have expected certainly from the bank of England to yeah they're very much seem to be the other way completely trying to get rid of cash yeah so the message isn't just about a no decision it's just it's a message as to to what they think is important and it might not be in line with what the government I think why do you think the change of retoric then from the lobbying of maybe they' just seen the responses to consultations might have actually on board 100% that could be what people generally a reflection what people are worried about I remember Bank of England is slightly independent of the government supposed to be um I was I always wonder the people working at like the bank ofland and the government that are trying to make these decisions do they not think for thems in the respect of like if we do this and take people's privacy away I'm also taking my own privacy away I'm taking my family's privacy away I'm taking everything like it's do they not think like that at all is what's going through their head when they're making decisions like this it makes no sense when you're part of the system it's less of a worry I guess but for your family and people around you yeah if you're so highe up you can see everyone's day but eventually you won't be ex you're going to retire you're going to have kids that are not going to be a part of that you're going to have grand kids shortterm they're all going to be yeah it's very short you think like Snowden do you think that like the NSA spying on everyone's phone calls and bits pieces like that they obviously he defected because of he thought it was overreaching and overreaching use of what they the power they had but the people in so they're already doing it but the people making them them laws up and them decisions like they are screwing their own families over in yeah that's right this as an independent making sure the government can't do that so I'm wondering is it the people at the bank of England that have then pushed for this side of things and a bit more from the privious side because have they actually took a step back and thought about it or is it the lobbying yeah cuz initially it was a buzz word and then we've seen in America now they lot push backing yeah people run there I think once people understand what a central bank digital currency actually is super of the buzz word it's actually what fundamentally what it could do and what it could mean and then you are going to get push I think it's just little benefits yeah compared to the downside so it's almost like good to see that they are pushing back for those yeah control pieces see more interesting article than just a choice headlines again headlines we need to adjust that headline um Florida and Alaska regulator say binance us can no longer serve its residents after CES had pled guilty uh highlighted just cure just to keep on the the chaos that is Cad and Bs but um yeah I didn't even know that that completely went under radar did you see what Z CZ tried to do he tried to put up his binance shares as collateral so he could go back to the UAE for a few weeks I saw that and they denied him they denied it was like worth 4.1 a billion yeah and he said no he wanted to go back to he had a friend there go undergoing like surger is he getting charged for anything like what yeah so he so they're just keeping him there yeah yeah but originally they said that they'd let him out on bail and he could go and travel stuff so if he came and give himself up he come and give himself up and they said actually he's staying in so it's um yeah can't imagine they're going to let him go anytime soon no um but yeah just interesting the states now shutting them down M and shutting binance us down which is a theoretically regulated company there now they're shutting him down just because of C's heads activ be which yeah there's a there a few people like on Twitter were asking where he's gone on Twitter and stuff and I think he came out and tweeted saying yeah I'm obviously just not tweeting at the moment kind of busy why they they're a bit led to the party aren't they I mean for that for Florida and Alaska now months after he arrested months after they changed everything time it yeah takes time to get to it sure it just takes time to get through these processes someone say right what do we do with these guys now of what's happening right we have discussions there'll be like internal discussions internal things going on so and each State's making its own got its own time Fram um yeah interesting to keep an eye in some way um Corey clipston implies Swan mining has joined ocean mining's pool Cory or Cory Cory Cory Cory Cory Cory what do they say Cory Cory Cory Cory Cory Cory this is great news for the internal heating system only reason what a red letter day for us this was the only reason so they bumped mining hash rate from like 600 pair hash to 1.25 x a hash I think the rest of that hasher at the bottom his eyes is it we're turnning the one off so how many blocks have we found now then so since yeah since last pod there's been three blocks found boam we've gone three blocks three pods without a block had we yeah well ocean mining since I've been back up and running I've only found eight blocks including those three since December did you say it was on average three blocks a month was it yeah but now a week for a lot more now I know but that's on average is it and we we've upped our heart rate internally is D it nearly doubled our own fundamentally makes no difference to our reward because we're now sharing it between no we're getting more but but it's more exciting to be getting blocks than not right yeah contributing to these blocks on Ocean yeah I'm I'm actually quite forgetting all the the com uh conversation around ocean and everything that was happening the controversy I'm actually quite happy I'm feel like it's more of an excitement now to to make ocean mining work and part of that hash rate from the beginning foret the controversy yeah yeah a new pool that we're helping drive from Office top 200 contributor or something like that yeah there 202 we're up there actually we were quite a big one to be fa weren't we uh in in the scheme of that which was quite we were surprised we didn't realize so now that the the race is on of whether they integrate lightning first or we hit the minimum payout first because we're currently under a race with SW no with ocean oan sorry oh God sorry they bring in lightning we can withdraw ours now basically but we need to hit the minimum threshold yeah the threshold is is too low yeah it's quite High then like to get to that if you're a minor at home going to take centuries ages yeah you take you're going to be taking six to 12 that's obviously why they're bringing in Ling they do need lining to do that cuz it it just like you just wouldn't bother if you're solo man at go in that pool any pool though I think they the same aren't they cuz you're going to have if you've got one mining machine at home what pool you go to you're going to end up the same income but a lot of the a lot of pools are a lot a bit lower than that yeah I think brains was significantly low I can't remember but given now might that's one for me next week I'll go check yeah obviously ocean they're different in fact that you get if they they uh build their coin maase transaction so you get it straight from the coinbase most mining pools don't they go to themselves and then they distribute it so that might while the minimum is a bit higher than usual you get a freshly minded block you get actually the R Coins yeah that's interesting that's good fresh mind coins which we all know are worth loads more and we will not send them to bitwise uh inverse chrom ETF to shut down after posting minus 15 return yeah crap sorry say again oh the invers realize it I mean and just discovered it a few weeks ago thought it was brilliant but they were doing badly have Bitcoin on it after launch yeah you had Bitcoin into that I think you've done very well but hasn't got it in it he's still uh slighting Bitcoin yeah daily and started slaying again as it was just as it was going down and then as it's hit the bottom it's come back up again it's like yeah another day with a chance to roll out a Bitcoin while the number go up Club tries to keep it the 4 that was that was just under a week ago as he went price gone because all the comments are just keep it up please TW going single handly push Bitcoin I don't know if he's doing it deliberately because he's probably getting more engagement it's like more suspicious a p sh and he tweet about big he knows he gets a lot of Engagement so like even bad like this dude's absolute psychopath any really he's he's chaos he's mad yeah he's playing up to it isn't he he's not an inv he's enter we went through this last time didn't he have a degree in some random psychology or something psychology politics and he's come loud at Harvard Business School or something so he's extremely clever no we went through that and you said was the top one in his class to top five no he was no he wasn't even top five he made that up again no that means it does that listen back it was like top 20 it means means top 20 if you're something it's a lot it's a Latin term and it means I'm hoping you'll dig me out of all you're not even typing go again yeah it means it means top 10 or top 20 in the to imag what is it so come on Mike I can't imagine he because he'd be shouting about you know Latin no yeah like with PR Magna that's it Magna comad that's 3 up to 35% of the class yeah so top top part of the class yeah the top 35% yeah of the class so he's gone to a very hard school got praise and finished top half of the class top did he go to scho business school but he did politics but he might have done have a you business want but he did politics we'll go through this again the education SE I'll take an apology off Danny Harvard University saying he didn't go to Harvard but I'm saying he did politics oh it's there Mikey but got it he's an Entertainer he even says in there yeah yeah he's entertaining that I'm not questioning that television personality of Entertainer it doesn't want ly from Harvard with a Bachelor of Arts as well government I would say exed educated in government so okay that's fine and yeah of the Crimson we've talked about a clever man he's clearly not what oh to be fair he probably is because of the entertainment got Be Clever to be is he's become no he's not clever he's been successful he knows what he's doing with the mentioning Bitcoin yeah yeah that's what I'm saying he's clever in that respect going become more more of the focus for CNBC and he'll it'll be featured a lot more because he's got an opinion on not clever in Investments you need a pro and a con you need the opposite side and he'll be that he's not clever in Investments he's clever at marketing I don't know I think he's pretty clever at Investments as wellin you if you're a clever invest you don't go and Shout about it from the Treetops on these sort of things really do you he just pivot into entertainment it's like them scams that you see online where it's like oh I'll give you all my tips you just pay $1,000 a month for access to my tips of trading stocks ET yeah why would I give tips away if I'm making so much money if I'm so good because you're a client person and you want to share the wealth no nobody's nobody's like that if they want to do that and they're a cent person they wouldn't charge $1,000 a month to have access to it uh it's clearly just a a scam I'm going to call kmer or scam Kramer kmer whatever it's called Jim SC I mean even Wikipedia say he an American television personality before anything else no that's fine that's what he's known for all right move on Kramer okay Kramer done you brought him UPF clo the CR think some want to make another one only if you can include Bitcoin yeah so that maybe they close it down and make a new one right next topic Amazon is making a film on the bit for next money launder is called rasle C I missed this what who started that do you remember remember the I remember rap she did yeah good god oh that was terrible I can't remember the girl and the boyfriend yeah they were scammers and it was like they everyone's saying these are Master criminals and you look at them and their background you're like no they're not literally that literally that no but they were like someone behind that someone yes new is on yeah they could have done what it was the lad did didn't he it was the lad uh no him that that the the image I've seen of them yeah just I think he just bugging the in bit didn't and just stole it from that and then they just and they did not just send it to some their own personal like on oh got kyc exchange they could just say all right you've just sent it to that's how they got busted or I kind rather got anyway not great that no but I'm kind of excited for this document these bad events Within industry are the ones that always you know get you know created documentaries about or dramas about it's it'll be entertaining for people and I think that's like you're right that's it's because it's bad or it's like that sort of thing and that's what Hollywood thrives what sells yeah yeah what sells I funnny enough watched uh mad money is it Mad Money mad money gole don't know you watched it it's the uh the GameStop film oh no I saw I saw that on a flight it's pretty good document stupid money is it money yeah mad moneyy is Jim Kramer got the head money so and it's got like Seth Rog it's got quite a lot of people in and stuff and it's it's all right pumped out quick it only happened a couple years ago I know yeah I was it's just come out um Jesus last month um but it's it's quite good it's September iot it was quite about three four months ago um it's a good insight and it shows you and it's more of a positive one really which is good it's not a negative one um and it's showing how you know what happened what he did um and going against Wall Street basically um worth watching it's an easy watch it's not complicated it's quite like do you know like what you watch um uh what's it called you describe stuff as an not complicated easy watch you know you know I'm going to say that don't do you know um what's it called that wol of Wall Street one uh think it's Robie in a bath yeah exactly that one oh the The Big Short big short um and that has like complex issue explained dumb down that's what marar Robie does in in that okay she dumbs it down and explains it while she's in a bubble bath not why but is what it is Dum money is more just the whole thing's kind of Dum down it's quite simple it's not anybody in a bubble bath so you recommend it how many stars you given it review of the week I think because of the message it sends out of I'd give an eight out of 10 s it's out of five I'd give it a four out of five just I don't think the films less than more Amazon gave it the film's not that good but it's it's a St you can't well you can change real life but it's based on real life story isn't it so it's limited to what it can do yeah um I like all that Wall Street bets protest yeah I like that the whole message behind it I think is really good really powerful so I think it's good worth watch looks like it lost money well H dumb money hey although they still still make a sequel about recording that film streaming sales and stuff like that I to buy it on Amazon Prime yeah yeah I might right genu I genuinely might watch that it's on us Netflix I think not on UK Netflix how much was it on Amazon Prime uh I'm still waiting for Napoleon to come down in seven quid eight quid I think um worth a watch though worth a watch right okay oh uh Google they updated their policy allowing Bitcoin to be advertised vanic and black rock add are already live how frustrating is this for you mbly so is this Bitcoin ETFs to be advertised or just Bitcoin yeah they're already being advertised now yeah yeah so Google yeah Google announced it was changing its policy probably about a month ago didn't it in before these went live what's frustrated the hell out of me is everybody on Twitter and that is saying oh like you know it's great Google's now allowing Bitcoin adverts no they're not yeah you can't see the double standard no it's terrible we still can't advertise we've not been able to for five years these guys have come along and can now advertise and I know the argument so Google for people that don't not aware when Google banned it 5 years ago they banned 2018 everything and then they' slowly in introduced it back to if you're a regulated company if you've got regulation in a jurisdiction so if you've got originally it was only Japan and the us because they the only ones with Bitcoin regulation regulation so that is a money transmission license in the US for example which is regulation and you're regulated so they are allowed to then advertise on Google everywhere else around the world doesn't really have regulation yet so what if you go on to Google and try and apply to adverti in the country for a Bitcoin related company they only give you a drop down don't they is it about seven countries now yeah um the UAE is one now which has now appeared because there's his regulation um but we've been under designated business the alaman for what we eight nine eight years now whatever it's been and we still can't get that because we're registered not regulated under still the Financial Service Authority um UK is exactly the same so UK you're under the uh Financial conduct Authority the FCA and theirs is a register not regulation which means anyone under the UK one even though they're fully okay to operate in the UK under the FCA they cannot get advertising on Google um so and Europe is the same um lots of other places the US can advertise to the UK Market no they can't I thought they could no they can only advertise to the market they licensed it I thought we used to see coinbase ads when you searched for no they can only advertise to the countries that they're licensed and regulated um so the minute nobody in theory can advertise so the Bitcoin ETFs can't advertise to the UK Market um which would be pointless anyway because you're not allowed to buy him anyway um but it's just a bit of a annoyance that just a little salt in the wounds you know yeah these guys can come along and straight away they can advertise in their Market um and then we it's annoying because like pre the rules I remember it was like there was loads of scams just advertising so you understand why they had to bring something in but we had a scam coin Corner advertising cor us yeah they wouldn't let us on but they let scam on yeah it's also they're not the most knowledgeable people in the room in terms of whether they should be allowed to advertise or not like the you know that that they're used to that one address and and how they use that address they proves it like should you be taking information from those guys almost new to the scene naively going at it what Anders well Money Talks yeah Money Talks um I understand like you say the scams and everything else so the the easiest answer for Google was if you're regulated you can advertise um because you've been vetted by someone but they've not understood the difference between regulated and registered for most of the world yeah you think they have a communication with like the FCA and the UK and talk to them about the register and whether I don't think was on the list was it no I don't think so so even the the regulation they've created on Salvador crypto companies that wasn't even approved by Google I don't think um and a lot of others are there's I say I think seven was it total countries around world you can actually do it in um because with regulation other search engines use the same process it's like dog do go most of them use Google ads it's on like Bing that doesn't these days there's a couple maybe um but yeah you could use something else but there's no traffic on half them how's that not a monopoly share is still like 90% yeah but they'll just say that the whole advertising Market oh yeah rather than just refin to Internet advertising it's pointless for other search engines to create their own advertising platform when they can just use Google's yes that one's a real quicker it's frustrating more than that everyone gets excited about these things and shouts out it's great Bitcoin like they've go wrong to start with cuz they keep tweeting out headlines of Google Now let Bitcoin adverts and and they're not they're letting it for certain people in certain countries and surely Bitcoin should actually be the opposite of like wanting that you don't want people invest in NFS you want them to buying Bitcoin and holding them themselves so if they Google how to buy Bitcoin or whatever and all the ETF had to come up they're more likely to go to those ETFs yeah but I always feel like it's a gateway to holding it yourself oh of course yeah yeah but I'm just saying of the reaction to having might positive but maybe people are not thinking about it yeah I mean but there's part of the pros of the ETF itself is the fact that they will be advertizing and throwing a big marketting budget at it to bring people to the whole industry the and the drip down effect is that eventually hopefully people MH start looking at Bitcoin on what I could do other than just as an ETF store well this leads me the H onto the what Mike's got on the screen right now which is the last point of the day is the negative side of the ETFs over 3% of Bitcoin is locked up in ETFs okay and that's negative because as we've already spoke about in the past I think on here about they will say a large enough holding and it will be a battle of control at some point between ETFs and the community um they will want Bitcoin to go in One Direction and that might not be the best for Bitcoin which will be box siiz Wars V2 i' like to see a split of really want to end as a total it's cool you know in a positive way I think 3% yeah is gray scales a big part of that isn't it but um you know in a positive way there's there's interest there there's people wanting Bitcoin exposure um I'm scare mongering should we call it in what to come um rather than what's happening now but hopefully Bitcoin has built you know solidly enough it rejects kind of any kind of attempt to aoup it's it has to be the community is strong enough not yeah Bitcoin itself so the community has to be strong enough to fire that off which I've already buying off the core development Money Talks as I saying yeah um okay which is why you need more Independence right a hugely negative note to leave it on I'm sorry sorry yeah can you not make another story up please I'm try I'm trying to think of the top of your head what some lighthearted go thing I've got nothing price is going up again there we go positive note um yeah no right all good count down to the Haring then there big Haring party on the 20th of April mhm could be the 18th certainly won't be March right okay then right thanks guys cheio see you peace out explosion why explosion Mike is going to run an explosion you never will [Music]