Bitcoin "Fear" Is Over | Britcoiners by CoinCorner #73

Join Danny, Molly, Zakk, and Dave for this weeks ramblings. Topics this week include: Texas state authorised Bitcoin investment proposal, 29% of American millennials own Bitcoin, Bitcoin Fear & Greed Index out of ‘Fear’, Bitcoin ends 14-day winning streak, Coinbase stops Japan operations, Crypto stocks surge, US DoJ shuts down Bitzlato, Bitcoin Mining Council survey, end of the petro-dollar, Merchant of the Month, Dave got some questions, Zakk used emojis, CoinCorner in "Bitcoin for Dummies" book Our Merchant of the Month is Red Ruby Kate. For all your steak and beef needs head over to  A video version of this episode is also available on our YouTube channel: Subscribe to our new Britcoiners YouTube channel: This episode is sponsored by: CoinCorner ( - A global leader in Bitcoin and Lightning services.

  • Youtube icon
  • Spotify icon
  • Apple podcast icon
  • Fountain icon
  • Twitter icon
  • Facebook icon


right come on we're starting Bitcoin is episode 73. oh is this what we're doing did you guess that well no I can just count from 72 something yeah it's his job you probably use assisted count and Abacus calculator I do I do not trust Mental Math a lot I do I like because an Excel sheet literally just displays all your calculations in front of you that's why a lot of people use them you know it's just I'm gonna throw something at you here Excel terrible program no should we move on should we clap by the way excel's not a terrible program but it's the backbone of so many Industries which is why probably everything it's just a terrible program I've I think I've worked in management accounts for 15 years and never not used Excel every day like literature every day every organization my PLC is Tiny because you use it doesn't mean it's good yeah yeah show me the alternative [Laughter] I'd probably have to stop speaking over people no talking to the bank well yeah but I always talk to Zach and he's there I'll grab the mic right right and excel's Brilliant agenda average agenda price as always Merchant of the month as always Texas lays down proposal to allow Bitcoins and authorized State investment Dave wants to talk about that one but we'll see 29 of America millennial Zone Bitcoin Bitcoin fear and greed index uh Bitcoin and in 14 day streak which again relates price coinbase stopping in Japan um crypto stock surgeon uh us uh the the bit lasso whoa you just said at least I can read before when we were talking yeah he was on a gun roll then Dave said that Dave said that yeah this is why you're you're doing the the agenda today Bitcoin mining Council and Saudi which Saudi is so intriguing that's all we have down is that sound so I have no more detail on it it's already beautiful let's go start the top Texas lays down proposal oh yeah [Laughter] on Twitter which is true the bar is really low keep it all together yeah yeah everyone was saying how nice things about you and how much we missed you last week that's what that's what all that was said I don't think there were well it was said everything we even had to believe a nice thing Dave said about it because it was too nice his reputation couldn't you know yeah I heard even though you have ruined it this morning with your happy Vibes I'm I'm so happy to be back yeah Dave I've never seen you look so miserable and I've seen you look miserable a lot it's a long weekend we should we should I was thinking about this actually because looking at the thumbnails from brick Corners like because obviously doing a fair few episodes and there's photos of us now from when pre um bear Market yeah I honestly think I've aged 10 years you've aged 30. there's literally pictures of us we look fresh we look fresh and now this is It's just painful we should both shave Our Lives I use one of those you know have you got one of those bib things you so I was just literally a massive great big Bibles yeah like no matter your method you they get everywhere like literally but my beard was looking 22 759 we hit 23 over the weekend yeah I guess we're getting smashed out gifts were getting smashed out gifts are back roller coaster guys the guy we love over 13 million impressions those gifts we've got it's pretty how did you look well that was before price uh pushed so maybe a few more but probably around pushing them out on the regular these next few days we've got up and what do we got up until 30 000 was it no we've got money we've up to 100K yeah I think that's what I saw the weekend we've got the 100K one ready there yeah I think I made the 70k one and then the price stopped at like 68.69 yeah there you go I'm going to be seeing a lot more I think of that okay I don't think I need a refresh I heard you were feeling very bullish last week was I I was actually I still am I wasn't gonna be a bullish year just hearing a lot of good news I think the best bit about it no matter the whatever bad news is getting thrown out the price is actually going up it's not being it's not reacting to the negative price but even the non-price indicators in terms of the calls we're getting and what people are looking at I'm just like oh this is exciting yeah and I hate I hate the thing of the institutions uh that people have been saying that for years and years our institutions are getting interested interest and blah blah blah and some of them don't get me wrong as a buy-in which we've seen Tesla and microstrategy um but the the institutions now the conversations we're having have changed from buying Bitcoin some of them are still interested in offering Bitcoin to their customers when I say institutions I guess talking Billion Dollar Plus companies like your Banks and the likes um some of them are interested still in exposure to the price for their customers and so on but some of them now are interested in what Bitcoin can do for the utility and cross-border payments Global Payments definitely been the pivot in the last six months I think what we're seeing what we're involved with now and that's what I'm very bullish about yeah I think that's it takes time it's going to take a long time to get these things in place like um records some of the calls are like the people with the old time frames are just ridiculously long I always think with compared to what we can pull out and how quickly we can move I'm just like this is why we'll run rings around you you think it's crazy how you outside you get so used to being such a fast pace in this industry that when you hear about time frames from other Industries it's just like Legacy Banking and things like that where these things are going to take years to bring in Bitcoin at any real capacity um yeah I think we've seen that heavily recently um but it's positive the the sentiment has changed from people just wanting to buy Bitcoin and put on the balance sheet actually we can use this for actual usage cross-border payments there's a primary we'll focus at the moment but and the price movement means that we get asked to buy a bit more of the playground again so people's people's interest goes up just because there's been a bit of a push so price does always as much as I'm trying to ignore the price obviously you'll see us tweeting about the price and exactly because the price is always the indicator to bring people back in and getting people talking about Bitcoin again and that brings in a new wave of people and then you might keep 10 of them people to actually then stay and build and actually use Bitcoin so every time that price moves we do bring in a little a little influx and a new new customer base a new Bitcoin a base on the subject of price I saw a tweet at the weekend which I thought was quite interesting which I don't know the when I say it whether it sounds wrong or not but correct me if I'm wrong but someone said it's the price of Bitcoin is like at twenty two thousand dollars is twenty two thousand times the value of the dollar they're just saying that's because one dollar is equals one dollar and 22 000. Yeah but no but I sat there yeah no but it's absolute classic analysis the stars are telling you that 22 000 that's what has come from it's worth twenty two thousand more but I was just like in the grand scheme of things like you see how much more valuable Bitcoin is than the dollar 22 000 times more valuable I was just like I'd never I know it's like an obvious thing but when I actually saw it written down I was like oh that's actually quite interesting I kind of really thought about it like that everyone I don't really understand like it's like saying my car is worse [Laughter] I'm just looking at like the value of Bitcoin versus like the dollar everybody thinks is I don't know you could keep digging the hole mate guys I'm back with my wisdom make sure we're slapping out tarot cards I'd say bullish year but I think we always say bullish area and I think in my head I expected a slower grind for the price this has moved quicker than I expected it's just a little bit of New Year's excitement Maybe I think yeah combination of lots of things but I think as well one of the um things for me is that cleanup from the FTX and the crowd the loaning crowd and stuff like that actually people buying Bitcoin now majority I'm going to say is in my head will probably be buying actual Bitcoin not paper Bitcoin whereas the paper Bitcoin be previously was not moving the price um so okay I think what maybe this is the start of the impact of that and we'll start seeing a real bitcoin price of what it should have been at like the bullishing it like in terms of the Texas news that we can move on to like it they're literally um suggesting that Bitcoin should be uh more institutionally available investment now in terms of how they classify it so that'll open up them there's little bits like that that make that's like an ETF effective isn't it yeah that gain access to so that's why I thought that was quite bullish using in line with what we're talking about but also it's there's an approach that America are taking to bitcoin which I started to fur than the UK I think like there's some countries are putting up barriers and monitor I feel like the UK is doing nothing well it's good going either way um I think we're but the UK is in a bigger mess than Bitcoin at the minute I think with brexit with the energy crisis with can you believe issues that came out this week about the chancellor of exchecker so the the guy that's literally involved with um the all the tax laws and everything was actually being investigated by the hmrc for an infringement was this the offshore I don't know what his particular is a share deal it's a share problem about us it also his shares were in a government lobbying group um so there's a I thought there's a conflict of interest anyway because his family owner a lobbying data analyst type website or something so it shares in that but then he's in a position of power to you know change all these tax laws change the budget bits and pieces how the countries run bouncing the books only briefly is in in there and then he was getting investigated for tax problems at the time I saw a lot of the uh I didn't pay attention to it but like was it Deborah meaden eating about it as well saying I've never yeah yeah loads of people kept tweeting about it like yeah saying I've never accidentally set up an offshore company or something like that and they're all basically Throwing Stones it's just like oh yeah like unaware really but like in his position you can't then say be in that position of power and then be unaware of that it's just it's crazy I think with the UK need an election I can't remember the last time yeah well that's the issue it's so far away though isn't it and you've got a guy preaching to the choir and he's like I'm not wearing a seat belt it's just like oh that's always little bits and pieces that's that's crazy I promise that he did a video talking to the country basically trying to do like a cool was it Instagram videos yeah or something like that um but he's driving I hate politicians trying to be cool he's not driving but he's in a car being driven yeah and the driving but in the background if you notice you can see police bikes that is driving past the police bikes and stuff like that and he's talking and he's sat at an angle he doesn't have a seatbelt yeah so he's been fined which is appropriate but it's just addressing the country while doing something illegal in a video it's like we only took it off to film the video I was wearing it probably yeah yeah we'll start doing that it's just annoying but we've only got like Texas going right we're gonna put it as a proper investment tool that people can get involved with I just think and but the US America is very different as in its state budget yeah that's what's going to go on to it's more competitive because yeah so all these states are competing with each other could you imagine ours are the counties that's the problem no but it literally would London had dominated the one that that's the problem depends if it was try out London controls it depends on London controls the country I don't remember there being a stay-by-state Olympics Olympic medals but yeah but that's my point though like this the state infrastructure over there is it's competitive they're all competing to be more approachable to bitcoin they want to be Financial hubs Texas is it's tax laws anyway are more favorable to opening Business and Entrepreneurship they've got the whole entrepreneurship mindset over there whereas our civil servants seem to be against anyone slightly involved in manufacturing look down on well I think it's just like embrace it and I think that's why they'll end up winning in terms of a global hub for this sort of Industry I think they actually act and do things the UK talk about it but don't actually do anything I think that's a big big problem they've been talking about being the crypto center of the world for the last six years now or something that's the same for every country oh no yeah they're all but they all shout band do it but the US probably in all fairness they don't say that too much they just actually are acting on it and doing things um so I don't know if it's yeah I think it is the state by state thing it's not all influenced by this one yes they have a president still but yeah but also because the states itself like Texas yeah Texas is several centuries yeah yeah so there'll be loads of states that we were against Bitcoin yeah or near the foot but those State powerful states will still be involved and be have a big say in the future but you've seen that this always happens with the US of Innovation or just like you saw it with like the legalization of weed in America is all it's like state by state um slowly all of them can come around yeah it's interesting that was it on Texas I just wanted to make sure we touched upon that because I do think it's quite a big news yes weren't they the ones sorry I know I wasn't last week's but I think did I say that they were the ones doing the college degree as well Texas Texas a m a m yeah yeah we talked about that didn't we yeah yeah I haven't done that yet yeah I think we should put up just to check it out and they bring in the record of achievement with some certificates in and it's got all the stuff from high school which is quite always quite cute isn't it we never look at it I don't care anyone bring that in when I've interviewed yeah we had a few but I was just thinking like if you just filled it feel you Demi's yeah just done everything every topic you can think of yeah so I enjoy good online course yeah a good python one at the moment nice should we get on some time right 29 of American Millennials own Bitcoin what's the age group of a millennial I think I get in there you know yeah I think you do I think it's older numbers so my date of birth is of the year I know I'm in Millennial I think it's 95 onwards yeah we've done this we're all right definitely we're all Millennials yeah I was just I was just reading I'm on the course so like according to the study Millennials in the country were the most interested in bagging Bitcoin accounting for 29 of the assets ownership 15 of the US adults were seen holding Bitcoin women only account for seven percent well 24 percent so what is a millennial the millennial definition actually does some people say it's slightly different to others there is two like definitions of them I think which is semester but I think yeah Millennials um you try and claim to be Millennials 27 to 42. there you go oh geez yeah can kind of see why a lot of Millennials hold it because that age group is so big and it's the people with jobs and disposable income yeah so but I I feel weird being in the same category as you guys I I'm gonna call [ __ ] on it I think because I'm insulted by that Danny I don't know about it yeah that's probably the best policy just ignore it just ignore it yeah she's been horrible just ignore her just ignore the bullies just White Noise yeah so let's become that um I was um I had 29 I I don't think is true um I agree I'm late I think that's a blatant way much lower it's one of those [ __ ] like we didn't surveyed a thousand people yeah 29 of them yeah but they were they were people who responded to a Bitcoin so I'd like to the source of it I'd like to know for one and I know then you've got like coinbase and binance and everyone like oh [ __ ] oh yeah we've got 100 I think Bayern said like they've got 100 and 120 million customers or something now but you know that's registrations most of them are probably just an email address which are fake most of them then actually don't do anything some of them will come along and buy a little bit and then never do anything again and we know from our numbers that how what percentage of actually of users some of them like we could say we've got you might end up with like say 10 000 customers sat there but they've all got like 6p in Bitcoin in their account and they bought Bitcoin and sold it they would don't ever done with it but they're left with 6p from four years ago and they're classifying them as owning Bitcoin still and don't get me wrong they own Bitcoin technically yes um but it's an inflated number to make it look better than it is and I'm not trying to drag it down or anything and like you know we started off this pod saying it's bullish here and everything but it's bullish for different reasons not for made up ridiculously utterly stupid reasons that don't make they're not real angry it's just let's let's stop it we need to stop pretending your Vibe is rubbing off on Danny well we need to drag him down wherever I go we need as an industry to stop pretending that everything's Rosy and everything's great because it's just lies and you're building you're trying to build something on top of foundations that are not real and I'd rather build on real foundations so I just don't think it's right to be doing that unless you've got real facts to back that up properly and not just some sort of subserving I can't suppose that that's just showing that Millennials are the biggest segment of the demographic the whole Bitcoin right so like no one younger no one steps out for our demographics and so yeah our demographics which we know is that's the biggest Gap it's just news for News sake it doesn't really tell you anything does it but outside of our industry that's potentially trying to make something out to be like Bitcoins bigger than it is and stuff like that okay and it's not really true and if someone says it's true come and argue with us show us some stats show some facts because I'm not buying it at all but in order to get the truth you have to ask every single person yeah which I hate surveys on the whole world you could ask like the exchanges and stuff on that and find out how many have actually how many are active bought things like you know you see the number of 100 I think well I've used the internet comparison in the recent article about how many users in comparison to the internet and where we're at and when you call it users and things it was like even I guess back in the day would you classify an internet user somebody that's like logged onto the internet in a library once in 12 months and classify them they're not really yeah uh yeah we've used before in terms of what qualifies as a user but someone has had even like you mentioned that people are holding that six speed at least have had some sort of exposure to buying they have and why sometimes some of them have actually been ransomed and they're paying it some of them are trying to buy something online or trying to do something or some of them are being scammed by app for you know if you take all them out as well I'm not saying that's like a massive percentage but the percentage of people and some of them are coming to just try and quickly get rich and then they realize this is not how it works you always use comparables so you'd always use like previous year or the last year like so you you could if you kept the same variable and just looked at growth rates it's probably more important than just a one-off stat about Millennials so you'd want to know like last year was it 25 has it gone to 29 now that's much more intriguing especially if you've used the same sample size I think bear Market as well as a good time to look at them stats and see because the ones that are still stacking now and actually buying Bitcoin now or interacting in some way there you've that's your customers to actually uses because they're the ones actually doing something when it's a bull market everyone's just jumping on the train because the butcher down the road told them to not because they're actually using Bitcoin for something yeah so I think now is probably a good time to look at them numbers and figure it out it'll be even less that people actually using Bitcoin though they're rather than just buying and holding yeah so what about the fine news little categories yeah what usage store value investment is one user and utility use and so on but I think then if you take that from this is why binance and coinbase will never put their numbers out and this sort of stuff because if you say because they're [ __ ] calling casinos and they're not using Bitcoin for any form of use or even a store of value for the most part the speculations Traders coinbase have to put something out of the listed so they do put user numbers up they have user numbers but then what do they Define as active users is somebody with a balance and so on things like so if that plus customers sat there with a balance for the last four years because they came and bought three quids with four years ago they still classify that as an active user so it's not really an active User it's someone that's probably forgot they've got four quids with the Bitcoin in that account and that active user in theory will look higher now because loads of them have come along and bought loads of random coins and they've got four Pence of ship left in the coinbase account from two years ago well you can't no the Market's not liquid enough exactly but you can't then um you they're trying to then use them numbers to inflate what it looks like then they do it for it's their share price they need to perform and all that stuff but cutting all that back and actually seeing the realistic numbers of these things I prefer some of our numbers that we use internally to in terms of a Merchants unique Merchants accepting lightning is we've seen huge growth and unique users uh using lightning transactions massive growth in and they're the sort of numbers that probably would a more accurate and almost more bullish um to an extent because that is usage yeah and so that you've got a boy that's utility usage yeah rather sorry investment usually specifically for line in as well but yeah it's it's those sort of numbers that people probably more interested in in this space I would say than some as high level as that but not many people are privy to that no it's hard because we want to kind of share some of these numbers sometimes as well but it's then how do you you've got to share I'd appreciate that's the same coinbase and buying and stuff you share what makes it look bullish or they share what makes it look good um and we have tried in the past to share things that are just I think we're pretty good I think we do you know we put out some stats doing it you guys do maybe we should find some stats that we could put out that are more honest but the part part is you ask that we put the honest stat out and then buy an answer put the fake stat out and then it looks like somebody else yeah it makes you look smaller than you realistically are and that's the same for all of the the companies generally and not us in our industry this is goes throughout all Industries um so if you try and be the one that puts the honest number out in comparison to the other guys you look smaller but actually you're way bigger yeah there's a fair chunk of that but I don't think we're not playing the same game as binance and coinbase in terms I like the fact that other companies honest and open we are as a company yeah other companies and other people that are more similar to us you know they're still never going to put out you'll see some of them pointing out tweets about how many downloads on the apps they've got stuff but then actually when you look at it 10 to 20 percent of them downloads are actually still installed and then of them are you know maybe five up to five percent of total downloads are actually being actively used um on a monthly basis if that so but the number they shout about is obviously the big number and I know that's a marketing thing and it's it's not just our industry this is every industry does that um but the realistically in our industry I feel like maybe we should be talking about more the genuine active yeah yeah because it's it's needed to show that Foundation that you're building we're building a whole industry together so pretending it's bigger than it is is just imagine to look at that then in terms of what will help you out in terms of what date we could send to Molly into to like it's that whole why thing isn't it about the incentive of what we're doing here is not to [ __ ] people it's just to be open and honest and how we get help in growth for the industry that's based on transparency as well it's kind of frustrating that people are not being transparent and the only other way we can if we show like you can show the real numbers we almost don't need a comparison against the other people and show them and so you can get a what that bios doing that would be almost like tearing down some of the other competitors and things because which I don't want to go and do um but that's the only way I think in my head you'll be able to see an industry number and get that whole industry number together of how many actual Americans for example we don't have America but how many of a particular country own Bitcoin um add still on way less than one percent of the UK when I say oh own Bitcoin I'm talking about own Bitcoin and regularly check the price check their Bitcoin Holdings all by regular way less than one percent okay from our numbers right with that one we've now destroyed uh this is this is an incredible year a bullish Foundation you need appreciate Honestly though like yeah listed companies are supposed to be honest with their numbers anyway criteria but they hide it in ridiculously complex accounting processes so you can't see things exactly right and then in definitions of definitions of definitions and you know does anybody know yeah but generally no coinbase's definition of active users we've dug into that heavily to find it yeah but it took us a long time to figure out the general public don't and then the headline comes out or whatever and it's just marketing but is that a journalistic problem rather than they're called yeah we talked about that before isn't it yeah yeah it's a bit of Rochester industry lots of problems yeah I liked your idea of uh the the yeah no I wouldn't call it that oh well rape my journalists yeah and I think we should do this and start this site for IMDb but for journalists yeah so you can see what like past articles they've written I'm sure that must be already I know I I vaguely remember because there was there's another one with the celebrity thing that came out so because it's like personal information that you're putting on there that is then uh I suppose it's publicly available so we'd have to figure that the legalities of that and I think about because I'm sure there has been one in the past that got talked down but I remember the celebrity one I don't know if you're gonna get you guys remember this one but it was a celebrity one that tracked celebrities locations around the world no but it was from public data so legally it was fine but eventually got tucked down I got what it was called but it's like a world map and you could see where in the world like celebrities were last seen so I've been that level of stuff it was basically like so if they're tweeting things on their thing or putting a picture on Instagram of where they are they were getting tagged in these locations and pinned and you could see them the Journey of these celebrities around the world so it became very invasive obviously well that's why Elon took a painting now because it's it's private players but it's tracked live on Twitter and he said that it's legal originally yeah yeah it said that yeah it's all public information but with a journalist you could literally link all previous articles and kind of like have a bar chart of their each article can be written overall yeah and where where which side they lean on who is that um yeah she just kept saying okay what did she keep repeating the phrase like yeah like a thousand times or whatever is quite embarrassing interview my idea of a bias bar somewhere and just have all the prayers so people that read those articles will be like oh this is what she writes I think you've done one as a result of that like and whether it's a number or whether it's like of uh legitimacy so is this journalist can you take what that journalist says with a pinch of salt or do they are they actually have or do they have real substances yeah if you if you particularly just hypothetically made this website it instant intrinsically have your bias built into it no well you do IMDb style don't you see let the concert the customers come and rate things so the public comes and rates them and then it's on a weighted algorithm to what it is out of 10 for maybe a couple of different scenarios name cheap and snap-ups it does seem like a good idea I mean a useful tool it would in my head it would start to make journalists um I guess have more pride in their work and their research they do in something well they don't really we'll look at the headlines NDB doesn't make some directors not make crappy films no it doesn't that's true but to get a name for yourself if you need a good film you need a good rating on that don't you and that's how you would get a good good pace yourself so if you want a good name for yourself and you it's like your CV it's like having a good TV sure there must be something like this already maybe we just I don't know enough about the journalistic industry anyway tangent but they're fine we're only on number three Chris alive Bitcoin fair and greed index out of fear for the first time in nine months 14 14 days green is it or was it 14 in the end I don't actually know what it was I can't remember what it was also depends on where it starts from as we've looked at last week coin market cap and say otherwise right more bullish Bitcoin ends Bitcoin ends 14-day winning streak missing out on a 10 year old record oh that was the link to that yeah yeah okay so what's that 14 days in a row of green 15 is the record I think from back in 2013 but I I don't know if 14 was really accurate this time oh okay headline an exchange that has the price to be 14 days green but the aggregated price is not okay so it depends on where you get Source from and everything you can't read it I mean you can't write an article about a non this wasn't even nearly a record oh okay the tweets that's got to be oh this is nearly a record it's tweets that to make it headline news doesn't it again it's all about the headline these journalists um all right coinbase stops Japan operations admit trading slump oh really I don't know too much about trading in Japan but I don't know it's like it's not the only one is it no there's quite there's a couple of pulled out Japan um there's a couple pulling out of a couple of other places that we were aware of I don't know if they're public yet but um yeah I think it's just part of the layoffs they're all laying off stuff and football exchanges do operate in Japan uh bitflyer I think is the big one there um kind of quiet over there aren't they I'm sure by Anders do they just operate wherever the hell they want um yeah I don't know about any of the other big ones bitfly is a big one I'm aware of so a midst of a lot of cutbacks you have to start looking at which Market's the most active for you probably and they've said a little bit quiet or out competed in Japan see like the took for coinbase the culturally different from very cool tradition from how they're running into as a western institution anyway so it'd be actually that's quite hard to be dominant over there yeah and coinbase are known as the big U.S one they are a big U.S public company so some countries that may not like the US may not want to use a U.S company yeah um similar to what you see in the western side of the world with like China with Tick Tock people don't seem to care most people don't seem to care that tick tock's Chinese but I think a lot of people do and flag that all done and don't refuse to use it because it is Chinese yeah okay interesting though uh crypto stock surge coinbase up 69 microstrategy up 74 since lows yeah I mean if they've got a lot of Bitcoin on the balance sheet and you know Bitcoin price you know goes up forty percent the value of your company goes up as well it's good times makes sense doesn't it yep I mean microstrategy Shares are a Bitcoin player you know aren't they really yeah if you're an institution you can actually invest in microstrategy knowing that it holds so much Bitcoin knowing Michael's sales strategy but they've also has your exposure a bit more yeah but they've also got didn't they announce they've got they're doing some lining um something lightning Services related but I think well I'm saying I think Mike Michael sales comments were about uh helping bring institutions into Bitcoin lightning yeah I don't need any help I don't know what that means we don't need help do they in terms of well I don't like I think it's on everyone's radar at the moment oh yeah I mean yeah I don't yeah it's crazy do you think the only technology will help oh but that's the difference I don't think it's on everywhere on the radar though oh okay I just like Bitcoin yeah I still think Linens up yeah I don't know just some of the the sun globally that we've announced anyway a lot of people have seen that now billion dollar companies a lot coming forward now because they've seen oh this can do something and that's the excitement this year I think for them yeah yeah I'm with you on that I just don't I don't think every billion dollar company's got it on the radio yeah it'd be interesting to see what Microsoft you're doing in in the space though yeah also I'm bullish on Lightning isn't it it's like if you get big infrastructure investment you know it's it gets secure more security to that Network surely yeah yeah yeah I think they all should I think you are a they should all be paying attention now and they should all be did you want to make it anymore and you've got a telling off as well before this please don't touch your mic please don't make as much noise wax a bottle touches the mind yeah moves on sorry can't control it anyway do you think Tech guys have lower coordination than most I think they do you're using one example no no no for your argument no no not me I could use a few no you can't look good I honestly I think they might have like devs we play five sides every week and I was surprised by the lack of Hyundai coordination by individuals Hyundai that's what this photo is different are devs notoriously sporty um yeah traditionally like like Geeks aren't they nerds and so there's there's a lot of stereotypes yeah maybe maybe they're not that traditionally sporty are they anyway maybe not so awesome probably aren't either way no they are guns full of great sportsmen for absolute athletes I'm not sure about that there's absolutely no need to throw yourself on the floor not one of it not one of an accounting team we're on the winning team last week or what week before was it oh we have Fitness against us in terms of accounts that lasted about a minute of running around before I was blowing do what the winning team who was who is yourself on the winning team yeah my team won team one every game oh here we go uh hello oh yeah oh yeah did you never think about playing ladies football you are very very good hello I'm all stamina no skill though no I thought you were too Biz Dev that's cute anymore it's quite a spread team actually in terms of departments so yeah anyway good game though fun ferocious tackles back to bitcoin accidentally elbowed some guys we've had this conversation ferocious right uh why are you laughing it's just what you said damn Michelle the U.S dhgs shuts down bitsolato exchange that was anticipation of some big news it was like yeah it was like 10 minutes late did they do that in the UK so there was a live stream Department of Justice come out saying they're going to make like a big announcement end of a big Opera industry never seen in our industry and we were like oh let's watch this and they talked about did they say they're an exchange involved or something so we knew it was Bitcoin related yeah it was meant for a big announcement on what they've done so it was like the FBI the Department of Justice there was the French well it sounded like the French authorities did all the work yeah yeah seriously so they built it up right so we were all like well let's watch the live stream see who you see who's in trouble yeah and then boom bits Lotto it's like none of us have ever I don't think nobody has ever heard of them I was going to put a tweet out saying is there any bits a lot of customers like did someone just respond to us no volumes anywhere I was just like what is this my guess is it was just a pure setup of the front anyway so it was never something real it was just a front um to what was yeah money laundering operation so it's not so great they've stopped some money on an operation it's tiny in from what there's eleven thousand dollars in their wallet um when it was all seized and then they'd done they said how many Bitcoins they've done over time which obviously today's volume that's quite High valuation but it was done over like five years or whatever so it was again what value that was actually out of no idea um I just laughing at the amount of people that said it sounded like a Starbucks drink a bit louder yeah yeah never forever nothing it was a better than nothing wasn't it but they pat themselves on the back every Department got a mentioned yeah you know laughing about it thanks to the FBI we should say thanks more that's what I think Department you know no one ever says that no oh we did no no we didn't because you said it for about a week people said Thank you two or three people so thanks for paying me I think in the in the main chat I think everybody said it at one point when we first did it and then yeah Dave I send you one sat every day and you never say thank you for that I can say it every day I sent you two because you say thank you to you sometimes yeah does he no do I but I send them on yeah where are you sending my thoughts aren't you there Francis and Gibb I'm going to turn off then I know it's quite a nice thing isn't it I've used them as a get out of jail card for printing credits when you're printing it in color he tries to charge it I was like well I'll send you two sets a day I'm sure anyone else does that as a institution when I like literally physically charges I can hear the printers I know it's printing color so I'm like 40p you shouldn't do that because I print and color on purpose now yeah just because you say that you'll notice the deductions I rarely print that's all yeah this is that I'll take doing some work wouldn't it that would that would yeah right uh Bitcoin mining Council survey confirms year-on-year improvements in sustainable power and technological efficiencies boom here we go yes mic drop but we've got more of a side tangent to this one but I tagged it just because it's good so what about 58 yeah 9 58.6 the side tangent about mining but I'll come on to in a minute um well so do you want to leave this one because we talked about it before that other headline about the 21 or whatever so how's this 58 character yeah letting people know so let's see if we couldn't live so we're not being here because this is BS as well I agree well no these guys are actually getting stats from the the miners themselves 40 is it 48 yeah only the public ones no 48 no because they've come together to create the mining Council on things all the miners so massive 48 of this of uh hash rate for the whole industry is in this uh survey basically right so it'd be like surveying 48 of the country do you have Bitcoin so it is actually a big portion percentage-wise of who they survey is the the actual figure is it it used to be I don't know if it still is it's that plus a predicted of based off that based off that predicted for the whole history but before it is worth mentioning that but the 48 they survey is much higher than 58 yeah using sustainable so they've actually pulled it down for the remaining 52 um so it's far more comfortable I guess and shouting about a number like that because definitely granted we've got a trust um than mine is telling us that yes that's what they're using how they provide that information if there's any kind of verification or don't know that kind of thing yeah so there's always potential little issues but it's better than nothing I think for that at the minute so these are these just moving to locations where there's a lot more renewable or these people actually with their own renewable source of energy it's the future everyone's going to be doing that it's interesting though because it doesn't didn't Elon say he was going to turn payments back on once it went over 50 yeah nothing people keep sweating about that and he's just doing nothing yeah he's busy screwing he's too busy you know sort of like the bookmark feature on Twitter yeah bookmarks about getting all rid of all them Bots though getting rid of ads if you pay more money I know you see that yeah the bot thing's interesting because it's quite volatile in your followers isn't it there's some bot call and I'd drop like 50 and then they're like not stops on my account yeah I only know this because I'm like nearly 2 000 and I was above it stop teasing me I'll give you a congrats next time you get over two thousand I'm not saying that I messed up in there I lost 111 followers did you yeah it was on it was on the well I don't know I'm going to say it to Parts it's probably no it's probably genuine people not real people but not because you haven't got a Blue Tick there that could be an issue you know what I hate to admit it but someone screenshot me the other day of when they searched my name and there's like 10 at least on the screen that they could see that were all fake accounts and it before you if you had about it annoying because he's forcing people to do it and he's forcing you to just appear higher and you're becoming paid yeah we've got a company can you not associate your account you can't you will be able to but yeah it's been rolled out I think binance and Kraken have got the square Twitter box profile picture but we haven't got that yet okay so that's coming that's coming hopefully Adam hasn't got a Blue Tick no he's not bothered there's no start the other day at all there's still quite a few that haven't and but they will see a downturn and things and if you're a real person anyway it's the goal tick you want that's like the gold business one the gold yeah that's like the official business the Blue Tick is now a goaltick is what they've moved to and the Blue Tick is just paid oh okay it's what that's slowly moving to oh yeah good on you I like that yeah okay right Saudi well I'm not sorry we didn't actually talk about it I don't know what you wanted to do with that is the Bitcoin mining you're supposed to know how long have we been going back so I know how much time we've got oh we're all good um that's relatively sure something that I I said you're you're gonna love and be interested in that's talking to Zach this morning but a thread or a tweet that I'd read uh last week and it was talking about mining Bitcoin and using the heat from the miners to store the Heat and then redistribute the heat at a later point to not use electricity so basically to allow Energy savings by mining Bitcoin that'd be glorious when it's freezing as an easy example of what that would look like and there's there's lots of research I think going into it and a minor has not really done this yet but the theory is out there and it is actually quite a sensible theory in summer you mine so say you've got your house Dave you're using solar panel mining in your shed in the summer it's obviously going to get very hot and you store all that heat rather than try and get rid of that heat you store that underground somewhere in a container should we call it yeah that's that's your there's your big problem well this is this is all spoken about and if you look through that thread you can ground storage here well you'd need to get it on the ground actually exactly yeah it sounds like a you problem okay so hypothetical magic storage system so yeah I have like a magic store system so you don't have that storage of heat and hot air you store that until winter and then in Winter you don't have to put your heating on because you use the hot air to push back into your house to heat your house rather than turn the electricity or your heating on so it would then save on your electricity bill your energy bill in winter um I've just resorted to candles at the moment to eat that so there you go can you add a minor job done yeah um but I think the theory behind that is pretty good in terms of it's again another way energy efficient way that you can potentially use it I don't know what them numbers and stats look like for things but there's a couple of people now looking into oh from an energy perspective they're saying it's actually doable to store the heat under your house or store heat in an underground container and distribute it in winter when it's needed yeah I mean that'll work yeah I don't know enough about underground storage he is to be fair I think probably a deep hole I can't imagine yeah at the minimum yeah it's kind of the definition of underground I don't know if you're still how you're storing it I'm just doing it compressed yeah is it wow I think some of the replies that people were saying is actually if you can't if it's compressed and contained it doesn't sound like so I don't know I'm a tale of the oldest time in terms of how you could like when you've got the bandwidth how do you actually store storage and huge battery storage so the Tweet started off sorry I miss remember the tweets died off that Bitcoin mining is a battery yeah and that was the theory yeah because the value of the battery not actually the but this is actually the heat element the heat is then the battery is such that but obviously then at a later Point you're using the energy from that rather than using energy yeah so I get the financial as a battery because you're like basically storing the energy as a Bitcoin value when you've got energy right that the battery so that's stored but this is this is the actual miners creating that heat is it could that be the battery but the and I get that so in the Summer with the solar panels lots of heat you're taking the heat turn it into Bitcoin the excess heat from the mining is stored because the air that's then used in winter I think it's the summer to Winter bit that's the key piece victorians used to pump water up hills and then when they had the energy and then let it go down and use that kinetic energy um as a battery so like there are a lot of different options but underground storage here under my shed would have any sort of return on it that's pretty cool I think I feel like you turn it on and it just all goes with that um [Laughter] yeah I'll look into it though it's interesting but my idea was to use the heat as a in a greenhouse so that's a cool idea during winter you could actually grow things not normally and we've seen that in polytunnels I've seen that in polytos around the world already where they've used a Bitcoin man is as Greenhouse he is and that's just another use of the excess he is not still storing it in a plant so at that point you're saying the plants like that's a battery if you're growing something anything the energy is the store yeah so it's a good idea and good good Concepts I don't know what the numbers you'd have to run the numbers properly to see how viable it is but yeah it's like what is the greatest use of that heat it's a storage that can be released on unlocked in a liquid Market afterwards at any point is it would be the best battery yeah not necessarily a storage of heat but any convertible that you don't lose too much on the conversion that's interesting I'm intrigued but that's kind of why I've got like people are saying you're not going to make money off that you my shed my solar panel shed with a S9 in it yeah I know I'm not I mean like the kind of at this price anyway definitely not but it's kind of the concept that I would want more people if if you've got if you're was bullish on this network as I am and in terms of and to get your head around some of these Concepts I think it's quite good to be able to have a proof of concept where I'm saying like this is the sun this should run for the lifetime of a battery which is like 3 000 deep waves in terms of the drain of it so it's an awful you know five or six years and it's just this concept of being able to convert that into a the Bitcoin Network I think it's quite cool we want more people involved with because without people getting involved with it you don't realize what the problems are no and then you can't roll it out to you know the mass Market this is where I think uh the guy that Tweeter is talking to energy experts who are not in the Bitcoin sector but they've realized that could actually yes store in the heat could work now they're trying to piece that and put that together with a Bitcoin miner to then actually come up with the process yeah I would love to speak to people more involved with the power industry to know what you know their sort of problems are and whether whether we could tag on this bit yeah it has to be the Innovative universities yeah it's The Cutting Edge Innovation piece of that industry what they are doing but I'm at the moment I'm just using YouTube videos tilt our solar panels at our latitude rates it's also it's interesting stuff but it's it's mental yeah I look crazy my wife and kids looking at the wind again especially when it's snowing I'm trying to yeah [Laughter] anyway anyway cool cool Saudi Saudi attack oh my talk I can't believe you've brought any sort of topic I'm well done this better be interesting I think you'll find it interesting um so it came out again fairly recently Saudi Arabia is China's number one source for crude oil again Russia is second so China get all their crude oil from Saudi Arabia and they are having ongoing discussions on not denominating it in dollars anymore and they're open to any currencies oh so last guy that tried to do that Salam Hussein Days Later Gulf War yeah that that's literally the news of the last few days wow have you not seen it it's been in the news is it yeah so the Petro dollar makes huge demand for the USD doesn't it we all know that in terms because everyone has to have USD to buy oil everyone buys oil from the Gulf States pretty much and China's number one source is Saudi that's big news China will get them straight and flip to theirs yeah I think it'll start as a local currency yeah giant yeah is it all just these little steps to make the digital yeah and all the yarn itself the global base currency I think so yeah it's a move away from dollar and into the more they prefer the global based currency is predominantly the most traded currency isn't it yeah so this will be a big step big opportunity for Bitcoin if they were to do that and there had been rumors about Saudi and oil and Bitcoin but none of that buying oil in Bitcoin yeah nonetheless come to fruition but that was literally a quote where it says we're talking about what other currencies we can use to trade in yeah I wonder if it would make a difference to the US if they used Chinese uh Yen or they used Bitcoin to make that purchase would which one would they which one would they put which one would they prefer Chinese Yana would they prefer vehicle is no control over either no but wall is in control of their large largest competitor such yeah it's like building controls yeah so I in my head I would think that up for Bitcoin yeah yeah my in my head they'll fight tooth and nails yeah the biggest benefactor in that old Arrangement was America but it's hard for them to do the largest trade for China is literally directly with Saudi massive but the Chinese economy is also there's a lot of red flags around that and empty apartments and all the biggest industries are all suffering and let's do my Gloom stuff for Mondays yeah it's interesting heavy I describe it was very interesting Wow Let's have an update on that next week I'll bring an update yeah I'll be the Saudi guy yeah right we'll have a little break and read the merch of the month it's last week we haven't done uh we haven't done our Bake Off thing with this yet have we he's supposed to be sending what you call the bake offers immediately shows yeah you're gonna lose um she is supposed to be sending some but so she's been busy with carbon season so it may arrive after she's finished being much of the month but then we can still just do it and put on socials I haven't seen in January apparently so I watched us [Laughter] right so I'll mentioned the monster red ruby Kate uh who supplies lots of meat boxes um have you guys ordered the meat boxes yeah that's what I'm saying we need to do it no I think we just ordered she's got no shoes she's just sending us some meat yeah to try it so we can do the yeah we just crack on and just create an orders today and then we'll have it for next week won't we well next week we've got a new Merchant of the month so we can't we can't I'm gonna order a Bottle Shop personally I think everyone very serious right okay you're ordering a box anyway yeah to here what do you have what's in my house okay I was just gonna see if I could grab some meatballs yeah I'll share my stuff which one are you gonna order we're gonna order a big one together so people can get a bit of everything it's just one yes we do that simplify it good for Content I suppose isn't it yeah it's okay to do an unboxing that'll be fun oh yeah will it stay cold it comes they come with ice packs and stuff but maybe able to get out and talk about it and put it back put it in the fridge oh we could put it in the freezer yeah it was also February so it's not exactly sweltering temperatures yeah well that'd be good let's do that then right let's try and get that much red ruby Kate um she lots of cows ruby red Devon cattle um and it's really nice me because it's got marbling in it and it looks really nice this is a great advert by the way I wanted to kind of a bridge it because we've done this a few times haven't we just go a bit crazy uh what's your favorite type of cow um I've never heard of that no no it's a rare rare breed found in Northern Ireland my cousin's got some they're very nice nice a lot to eat or just friendly [Laughter] I don't know what to say there's so much information but you can get a delivered box full of meat mince steaks roasting joints all different sizes so you could feed the family for a good couple of weeks buy it on bitcoin um yeah I found a what's the code the code is there's no code she's looking for as well yeah it's nice been a merchant for a while haven't she I saw someone I think it was Bitcoin walk you know the guys that do the walk up in Scotland they order from her quite regularly they're tweet about it the other day I think so they just ordered another thing there was a big order at the weekend was it uh what was the big one I was quite surprised like oh it was esatoshi I think candles yeah there was a fairly large order from that which was a lot I can't talk about them because they were our Merchants no we used medicine the smell of Truth it smells lovely yeah are they doing a Bitcoin one yet well because I know it's like that Bitcoin yeah I know but we were saying about doing an orange one weren't we or a green the red and green for the candle that was it if you're gonna make some you're gonna be a rival test well Zach got me a candle making kit oh no your Secret Santa can you die though okay it did come with dye but I didn't I wanted to just do nice white ones because I was going for like you know oranges so green and red yeah for Content man just make a squirt can you make a square one how am I still the Fire Marshal by the way because nobody else put the round up for it to shoot I didn't put mine anyway okay so much of the month done uh we've got you got a couple of questions Dave didn't you yeah you did you did what we did this right so okay so last week I think or the week before you were crying weren't actually no I just said well I was thinking oh yeah yeah DM us with any questions we're just assuming that me and Zach would never get DMS for questions which is the most boring individuals so Dave got some they've got some questions what were the questions right so first one is Danny and me as well as you gotha no neither yeah [Laughter] and you said something about your uh your friends aren't in someone said uh Carly colleagues and then I think it was like the way it was the way it was done it was like it dwindled down to like it was just barely nothing but it was like an external person that had asked him a question and he was like really awkward like in an interview it was not something on the phone yeah it's like I'm here with my friend and then I think he replied colleague Phil's a Founder here isn't he and Liam's one of the early employees yeah and he was just like but it was just a running joke after that no one's friends everyone's just colleagues yeah okay next question uh how's your dog behaving very well best friend outside the colleagues I get it why people say it's like man's best friend because they literally they follow you around they're always happy to see you every time you walk in his Tail's like going mad and it's nice if you haven't followed you around yeah they're not asking you questions they're just following you around it's just taking on walks I need a haircut at the moment though that's a pain yeah it's a pain all right uh last one how much you saving on nappies I don't see shed load probably a few grand a year and you can't afford to Splash out for lunch as a result of that no nappies are done so we're saving that now yeah but but now you also saving on lunch as well I'm now down to ATP a week for my lunches if I'm gone it's not healthy it's not healthier it's good content yeah you'd be better faster through that whole time and just not having anything at all it's fasting for a whole no because it's Christmas it's literally chemicals yeah it's mainly like corn flour or cornstarch just thicken that's not great flavor why not with flavor Perfectly Natural MSG is in you know no it's not that good they're pretty cool stabilizers some e numbers that's all you need a little cup of soup all right okay 80P a week's impressive though isn't it yeah I have to like I'm trying to like fund this solar project in my shed it's all cost money I can't think that's the same I don't think that's helping to as well like your aging thing you know you said at the start yeah my wife keeps biting me moisturizer that's a big hint isn't it that is yeah I know there's nothing wrong with a man that moisturize I know but if your wife's insistent on buying it moisturizer most weeks it means that you get in the room because it's a hint isn't it it's not the fact with full tubs of moisture I haven't got like a moisturizing routine that a lot of people do that's good I don't have one oh you don't know oh you should yeah that's what she says looking old doesn't it questions any more testers breaking news that used emojis on LinkedIn saying that his New Year's resolution was to not use emojis it was a moment of weakness who pointed them out I like the fact that we found them yeah you're all right on LinkedIn completely forgot Cowboy sorry we found it although no one else is online uh yes there's that um so is that it broken now or no no no you can just use emojis on the wagon okay right okay I had to scrap it off yeah it's going well actually I'm enjoying actual language I'm sorry I'm enjoying these actual the English language again to express how I feel yeah I see a lot of the time you just reply LOL yeah the most popular right and then uh coin Corner in the Bitcoin for dummies book oh yeah I saw this last week it was quite a second edition oh wow yeah New Edition we're in quite a lot of books that we never knew about which was quite interesting are they self-published Amazon books books well but for dummies ones O'Reilly's big old thing yeah [Laughter] there's quite a lot of books that were actually featured in um over the last couple of years more so it really starts creeping which is good it's quite nice so there we go and that's it what's the extent of our news that was pretty the conco news yeah we've not really gotten a pretty dry week There's a lot biscuits for the team on Friday which is nice and Thursday found a four pound voucher in my hoodie and then spent on everyone highlight of the week there for the team animals off on Friday so didn't get to eat the rest of the business yeah I had loads of biscuits didn't know who they were from didn't say thank you we did yeah slow snow day Mike so snow day absolute chaos the old man ground to a halt yeah with barely any snow there was none I had to literally schools were shut down and wide we had to take a snow day we had to take a holiday from a kid and he was like where's the snow and I was like exactly yeah I know it's wanted me to drive to the snowy places and I was like absolutely I had the best snow day you lived in the snowiest area so snowy snowman toboggan run insane have you ever heard it like dangerous stories about people sledding on like bits of sheet metal and injuring themselves yeah literally I can see why that happens because you're basically trying to find the slippiest thing so I was using like a baking tray and stuff like that by the end of it did you notice there's not enough did you know as a kid who's been back as a kid me and my brother and sister used to go down our stairs on my mum's exercise mat yeah [Music] it was very uncomfortable but it was very fun yeah I crashed into a trampoline it was so much fun it was a good snow day just took the day off and just enjoyed it nice I just took the day off and didn't enjoy it really there was no snow I know anyway was that right um there was something else yeah there was something else I was going to say that what we're talking about biscuits before the biscuits uh there's definitely someone going in news oh well oh well I can't remember yeah that's a great finish right anything else no oh yeah Encore oh well see you all next week thank you thanks guys cheers [Music] [Music] thank you