Honda and Ferrari Accepting Crypto? | Britcoiners by CoinCorner #103

Join Danny, Molly, Zakk, and Dave for industry-led opinions on important Bitcoin stories from the week. Topics this week include: Bitcoin price, SEC & Ripple, SBF's court case, BitVM, Taproot Assets, Honda & Ferrari accepting crypto payments, Cointelegraph misreport BlackRock ETF approval, Timeout Trees, Tesla sell no BTC in Q3, and Spiral's Bitcoin 101 video Britcoiners is a Bitcoin podcast by CoinCorner ( - a global leader in Bitcoin and Lightning services. #coincorner #britcoiners #bitcoin #bitcoinpodcast #bitcoinnews

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[Music] off we go got how to do this back welcome back thought you got rid of us not quite uh this week we got uh we are going to talk about Ripple weirdly B SEC Ripple uh SPF what's going on with the court case bit VM uh Honda and Ferrari um coin telegraphs Panic news uh timeout trees on the lining Network um spiral video 101 Bitcoin video lightning labs and the tap r assets announcement uh Tesla not selling Bitcoin and that's it Mega bitcoin price Mega great to be back we've been away we've been on holiday all right is that what we're saying fine yeah I say it don't don't ask any more questions all right bitcoin price is are we about is it $30,000 a minute 30 give a live update and it's gone it's good though 29,800 is 3,23 welcome back to 30 30k I'm watch this for episode go um it's been a while yeah we talk about why we think it's at 30 why has it been can yeah kind of comes on to one of the points later does it can I don't know just leave it let's just move on let's move on to news stick to news news news judge so this is there's two pieces of news for this one uh the judge has sided with ripple um with the against the SEC um and I think that actually there was one from like a week ago but there's one that just came out last night as well was it that they've not they've dropped was it all three lawsuits against them I think yeah so the SEC aren't allowed to appeal so it's all going through they aren't they didn't appeal and they also dropped the ones against the directors themselves I think right um so why have they dropped them I am very out of out of bitcoin news at the moment I the quote was this is not a settlement this is a Surrender by the SEC saw so the only reason I'm talking about that is because of the SEC the Ripple thing I don't really care about yeah the the SEC starting to back down from these things now and are we seeing a bit of a change in their opinion on things obviously with the Bitcoin ETFs potentially coming um are we seeing think Gary's just trying to save his job there could be a bit of that um I assume though he'll get taken out once the new a new president comes out I don't want to see anyone taken he he will get take no we get taken out I want to say taken out when the new president comes in they can can appoint a new uh head of SEC count they appoint different roles um and I think that's usually the case the president appoint the head of the SEC uh I think it gab's role they put thought it was slightly more independent really kind yeah uh SEC chairman president designates one of the Commissioners as the chair and then they and they put him in I think it was Biden was 10 to Danny that no isn't actually an independent Federal agency president designates one of as the chair as a five member commission and president confirmed designated Gary as a chair the president designates one of the Commissioners as the chair trying to find a way to next keep so yeah so Ripple so okay so he doesn't appoint he can't pick he can't pick who's in it but he can pick who's boss of it yeah right no I think they can appoint somebody to go because I think that was what they did with garyth I think well they put him as commissioner and then said he's leading it they can pick one of the Commissioners out five as yeah but my point is that they can't pick the five no I think they can pick one of them I get what you're saying there's no there's no independent Federal agency if they can pick the five and then pick the head maybe not well so there's one of the five and then got so I'd say we're both right that's a one one actually that's a draw right thank you allow it yeah 5 minutes back and it's one says here five appointed by the president appointed by the president of the United States Mikey Mikey mik the sec's website but right go through that so it's not independent at all so why would you call it an independent agency if it's not independent at all with the advice and consent of the Senate yes the Senate have to approve it as well but okay so but it's appointed by the president yeah but the more you wore it down the president just can't pick his five guys and then pick exactly what no it's not just one guy's decision okay let's move on that's a one wat we very much if feel like a five one then um so yeah SEC something I think Gary did he had a little interview didn't he or got stopped randomly in the video just from a couple of days ago going around that he um is explaining in the video almost how a bit what a Bitcoin ETF is and how it works and saying that he's acknowledging his basic 8 to 10 in uh stage of approval or waiting for he didn't say approval what the word he says right um but yeah it kind of his first a real acknowledgement I think of Bitcoin ETFs and because he's explaining how they work here we go I always feel sorry for him in interviews oh why because he can't he can't obviously he's he's trapped in such a legal framework that you can never answer questions people know that and they're just like oh why aren't you answering it and they know the the head of the SEC can't just have an opinion the Bitcoin one though I think that was an interest oh yeah but trying to dodge his his Bitcoin a security and he he could he basically said no it's not but he beat around the bush with the answer we know yeah he we also seen the videos of him previously saying that it's not and old old mit lectures about he also said ethereum is now back then as well okay now it's changed I just feel like we're just trying to tie him up in a web poor guy he's had a bad run because he's a bad R he has that's an hey that cost a lot of money and he it's like he's got T on his back now was he seen having dinner with s SPF was that him yeah he was seen having dinner with SBF I think yeah I'm point I think reportedly add reportedly to that quickly anything now just reportedly to cover all oh yeah yeah when this was about a year and a half was it no it says February 23 oh was it yeah I thought it was before that no cuz it was no that was it they'd come pop by then oh it was before by last March things appeared to be going exceptionally well as they prepared for a private meeting with Gary GZA so they did would you like a private meeting with Gary yeah just to say me I feel your pain what like Dave right Mike you're going to have to there first bleep how how should we just call it Ding and Gary where we just cut the time down and bleed that Jesus how it it's very hard yeah very hard but you feel sorry for it no okay then he he chose to go into that position that role chose the decisions he's making of who he's pursuing um he's lost against Ripple um the Bitcoin ETF the P thought he'd lose against Ripple approvals you would think with the ammunition you'd have for what Ripple is and xrp you'd think it would be a like no brain win foran sweep just a lot of cost out the door it clearly wasn't has it been the right approach yeah questions everything do it anyway poor Gary when you sorry were you going to play that video as well Mikey always was it not play you best get your notep out with the subtitles but I okay it's muted isn't it in this but something that was rain at this probably not going to hear this say what we're going to play this was a bad move play the whole seven minutes well we in silence no reaction video to an old video no there's like a 12 second SL but we're in the seven minutes is it this is a seven minute video about that this is this is not great for an audio well Mikey can play that and Mike yeah this is not going to be out by the end of the day it's it Mikey not out anyway okay uh s SPF um I to be honest this would I tagged this just as an SBF update rather than the the stuff we all been following the court case and the court draw I've been I've been following yeah Terri why why are they doing that I don't know why have they not got someone that could draw in to do I mean Art's abstract isn't it you know it's uh doesn't necessarily know some art is abstract but when you're doing trying to do accurate court drawings what's going on then maybe that's not the place for abstract yeah you know what I mean don't want impressionism in there I just want to see what they're doing one of our teams that said that they think that it was they're doing the drawings on purpose to distract from what's actually happening should which could genuinely be a thing what do they mean distract from what's Happening the drawing so bad the first thing we talked about that was the drawings not the case so it may be that some of the audio that's been released is uh very interesting don't know if you man guys have managed to listen of their internal like meetings and stuff just casually talking about it all why were they recording from inside the courtroom or no from from the meeting used to have stuff they were recording them yeah well someone was wow I know I mean the whole thing is it's just a massive fraud it was not even it was never looked like it was never run as a business from them it's crazy what guys said you were you talking about the the code where they had that insurance number where the bit of code that got leaked of how they were representing their their uh insurance number they had they had a site they had a number of insured assets yeah and then they were like times it by a random number between a range every time the page load or whatever it was just so you think it moved but like that was it that was the code just a random number it was one line of code was it two lines of code but it was just it was L just yeah a random calculation they did that they just pretended was just like a Insurance Fund they were just completely made up it's just everything about the whole thing we these these guys are order yeah yeah but who buy a company that they've probably bought and we still do know the full detail do we um that company shut down the audit I'm not surprised um but yeah the whole thing is just an absolute from day one it looks like it's just been complete fraud what's her name Al Allison is it Allison uh Caroline Alis Caroline was it Caroline Allison Ellison yeah she got dragged through it I mean they all deserve to Dr through it getting out the car she's like lady there like a sort of thing where like the trial got delayed 10 minutes cuz Caroline got into the car just sat just just got their own car they've all gone full on oh he did it he told me to do it but only because they've all had plea Bargains so they've all agreed they're after Sam doesn't look good for him no um yeah but I mean the whole thing is just you ever just look at them all though and think how how do anyone trust them with that money no but how could they pull off like she she's a Math's Wiz I have you listen to any of her interview honestly not not a singing one of them I don't believe got sense about that's what I mean like not to like wonderful he's an idiot as well how just how how I don't know I don't know how what how how do they manage to do it how did they pull off all the those frauds and 127 company structure with 127 companies in it very hard to wait heavy compl get to that stage no transparency whatever how did they get the investment initially to even get to that stage they P the wall over so many people's eyes his family Network's probably brilliant yeah in terms of who they know they were they were working for the current government both his parents it's just mad just mad it's not what you know it's who you know I've seen I did see quite a funny tweet recently I can't remember who did it but it was like a a a diary like a imitation Diary of uh SPF the day it was like 10:02 play a bit of DOD Dungeons and Dragons and then I mean there was loads of different things it was funny there but you could imagine it being quite accurate of like but also in that era when it when it happened like it was a really bullish time wasn't it everyone's getting behind all these and I think that that's the big thing the faar of the fomo style thing people of what that was and I think the as soon as he gets credibility of association with one person then that's so he had that credibility he looked like a genius no one really understood the market and knew the market was going par abolic so everyone jumped in did I see a thing recently that every time the price got over 30k they sold Bitcoin 20K was it oh 20K yeah that was when they was in like Spiral mode on the way down anyway let's be done with them I know when's it going to end the amount of damage they've done to this bloody industry can y big damage for lots of people lots of individuals what will probably be the biggest fraud of all time I think one it surpasses uh Bernie M because yeah because uh as far as my understanding uh this is from my own calculation watch thatx documentary yeah it's quite good documentary but the the Bernie mad off was like say 40 40 something billion but most of that has been clawed back so they've only lost like are they down to single digit billions I think of of actual losses so this being at what it could be which we're thinking was like 10 to 15 billion but I think it's a lot more than that it'll be a bigger loss because there's nothing there to I've not heard anyone call it the biggest fraud in history yet no probably you're saying it might be I think it is now okay I think because of when you actually look at it at the Big Top End level like you're saying the big number which is like the 40 OD billion for Bernie mad off is it what did he he what did he get like loads of life sentences in prison yeah you got a lot I think a lot of that has been I don't know how they cled all a lot of that back but they've cled a lot back over time and I'm sure it's in single digits left well watch billion in cash and 65 billion in paper 150 years he got wow yeah but I think now that has come down to single digit billions they not yeah there were Bernie made a LPS that actually did quite well out of his Ponzi you know there early vs on that documentary they inated some people that they did all right people and that they should have been really Distributing the font anyway interesting what what is what is the uh time for S SPF and as it come out sentence payback don't know probably similar to Bernie's so recovered 14.6 which means there's still about 35 billion left in the Hole uh CU I think the only the actual cash lost was like the 20 billion was it oh right down to like five four or five billion you just verifying your calculation yeah right live on pod veryify you know need to make sure yeah Dam yeah it's nice to say it and then then make sure you should just reportedly don't verify and say reportedly there's an additional 4 billion as well so they've recovered 18.6 billion out of 19.5 right let's get the spread out and see how much they are still out so there's only only just over a billion that's actually been lost by people which so actually what bir mad off's case that's all the outand is one billion I think it's because they look at the paper loss thing of the six but that was paper loss was just him making numers up so there was no actual Money G oh so they didn't actually make the gain right but they got the original investment back okay anyway it might be the biggest so this would be the biggest to buy a long shot which is crazy not the association you want to happen in the industry is it no no very negative for us unfortunately right classic and for people it's just a shame um bit VM I've missed all this explain it to me why is everyone looking at me detail expl brain fog uh yeah B um who was it super tesna and what was the other guy called uh pull him name Ronin is not Ronin super we can move on without the name no no it's important important to give credit even credit yeah um it does begin with R yeah Super Test someone begin with R kind of a we'll drop a name in technical paper of a proposal called bit VM which is basically keep it high level a Robin Robin line keep an ey level um kind of utilizes now tap rots kind of in um in Bitcoin um you can utilize that a lot more in terms of like the sign signature aggregation stuff and the contract side of stuff so it's making use of tap rout using what you call tap leaves to BAS basically allowed to um kind of Stack logic gates within the Bitcoin blockchain and then there's this Theory I think it's de Morgan's theory that if you can if you have a n logic gate so not and logic gate you can recreate all the other logic gates so therefore you can recreate a computer just with Nan Gates M so the ability of being able to do Nan Gates within Bitcoin means you can essentially build anything on bitcoin without a need to change Bitcoin should be true and complete so it be true and complete yeah that's what I was looking for so it could be true and complete yeah the the Morgan there is theuring complete for me yeah this is way over my head exactly what Zach just said there you can effectively do anything build it you want on it and there be no limitations in in some ways the limitation would be the block size which conversation but terms of the actual logic and and that's what's defined as T in complete because you can build anything on it that's what ethereum is trying to be sold as people argue the definition of what that is forwards of whether things are or not but like the Bitcoin script at the moment is considered not trying complete right it has very it has limitations of what you can do in the smart contract side of things so that's why it's kind of very limited to just these like kind of multi sigs that lightning uses and that kind of thing but adding the ability to have a nand logic gate basically means you can do anything of that point okay all that it might me not be the most efficient way of doing it which I'm sure you know as the the technical side progressors they'll find efficiencies but if you have a n logic gate you can stack them and build anything there are some really good videos out there about what logic gates are because that is basically the fundamental principle of how a computer works right yeah if you did computer science a degree level or anything you'll get T Gat or if you're like me you could use Paul MC's YouTube channel and try and build logic gates on Paul who Paul MC I think Paul MC you like he basically you could circuit board logic gates with different lights and stuff and how I build them that's how I got my head into it yeah the cool proof of concept they working on is chess so they've just super Tes have just yeah yeah that's fny super Tes has just released like the first kind of stack of logic gates needed to check a knight's move and it's fascinating looking at that kind of low level of what is needed what stack of logic gates is needed to check a knight's move there quite a lot a lot a knight's first the first move like to check it's moved legitimately okay so then the other person can then verify that using the CH onchain transaction essentially right so you know everyone's abiding by the rules okay so they're working on piece by piece to kind of build chess out and it's just fascinating to see like which is probably it's one of the things where it's probably Overkill and nobody's ever probably going to really play chess on nobody it's the concept how it works which is a really good example to do like you you play on or whatever you're essentially trust Grand Master you're trusting to implement the rules properly for both parties whereas this would allow you and the other party you would just the rules are set by the in the blockchain essentially oh yeah that's so no one can make an legal moov yeah but be yeah true I do trust I do but that's why like when you used to play like online games and things like that and people would get patches and like uh what do you call them uh it's been old name for it but it was like a name is now like a patch basically if I was playing against you like call of Duty style and I would be able to do something that actually gives me access to your location at all times but nobody knows like cheat within the game basically so if somebody was doing that in and they could actually be having something there in the background allowing them to do moves that were potentially illegal but if you didn't spot it you never know and they can just do it so this would then is what right so you are just in as to do that and trusting that nobody else has found a back door into to be able to Illegal moves chest comes probably a bad example considering it's all completely transparent and you know it's not and the moves are rigid and you know what they can move you you ident a place identify illegal I couldn't did legal move you didn't notice it you just carry on if you get to grandm level without nursing even if you noticed it as a b next try I was watching him trying to do this on the pl and he was like still trying to read up on the rules chaper me wasit no it wasn't he was just getting beat by what was it called that he couldn't beat uh pul yeah the American Football chest. you can play influences you can play sport Stars Christian pich turns out to be an exceptional chess player he's not even that an exceptional football no because he's concentrated too much on chess cuz he's brilliant at it yeah I mean he's my guy I can everyone knows that's where I'm at I cannot beat him and he's is he real like he's real but I think they've just recorded his like they have levels in chess. terms you playing Him Live no no no all right I think he's probably got probably not play this guy called DAV Bo Master well yeah essentially it opens up Endless Possibilities without having to need NE without the need to change Bitcoin as it is you can build anything on it granted the the kind of cons of it is like the block block space required to build stuff is probably quite significant um and if you even want to build stuff on bitcoin that's all different that's the limitation the block size becomes the questionable like you might be able build chest on it but it might take half a Block's worth of right yeah Bitcoin transactions essentially so yeah I think it's really good progress I think this theorically there's it kind of can do everything in some respects but I think there there's an upgrade needed for additional uh up code isn't yeah to make it more efficient make it efficient and do be to do right now I can't do like arithmetic so it can't do like times to multiplication you just have to add oh okay the am yeah yeah there inefficiencies there okay baby step yeah it feel it's the vibe of like early internet like kind of he's literally dealing with binary inter logic G to build a chess as move pretty cool yeah really so interesting it kind of makes like you look at all the the altcoins and things out there that I've tried to like blockchain Concepts platforms and things it kind of starts to make them redundant um it could I suppose well sounds like you're a long way off no this this is probably ahead of a lot of them out there because their promise is they promise a million things don't they and they never actually come to fruition um because they say they're going to build it and they don't build it or they build it and it doesn't really work and they have to turn it off um so this is ahead of in some respects of a lot of stuff in terms of what he can do on and Foundation of what is bitcoin so I think it's um in some ways the killer for a lot of these other chains out there okay alongside a couple of other things but yeah I think there's uh it starts to make them redundant sound pretty cool pretty cool I like when things like just they just drop random midweek just someone tweets out no announcements at that announcement we have that and the other one as well didn't we the uh lightning Labs yeah sit in similar capacity uh being able to do tap r assets finally on Main net M obviously this has been in the works for two years now two at least two years cuz we were on the plane one yeah so be was 18 months ago they announced it um so it be yeah so ability to Mint um and send t r assets on chain on Main net not on Lightning yet that's coming soon but this is the first step kind of onto Main net um yeah that's just brought me back in memory was trying to panic read it w we before the Miami Conference on the flight over TR can you give me a good use case for something that could be minted on there uh stable coins stable coins on bitcoin so obviously we know there's no um there's no hide in the fact that stable coin volume is massive and it's all built on these chains which are not you know they don't have solid foundations they a nightmare to deal with um there just kind of opening up that ability to do it on bitcoin much how would you deal with a pegging what was it Peg is it be Peg to like a stable coin on bitcoin the same way as it does on yeah this you just Min this allows you to Mint your asset on there yeah so you'd still need a pegging capabilities off like you has a centralized compan doing that's my point tether will put themselves on bitcoin for example right so it would just be the same as like tether on ethereum or on Tron or whatever so you just got onit instead right so it's B trusting that blockchain rather than you don't have to turn off every 10 minutes like Sal and stuff it's like trusted but you're still are relying on a third party to Peg like have the underlying asset of that what they've Ved on to plug if you want stable that's what get rid of that cuz you do have to there's this trust element there that they are doing it yeah there's there's synthetic stable coins and stuff that people are trying to do and have been doing and there is a couple live now that kind of doing it which are meant to be more to remove the trust uh angle of having like tether behind it or something right um yeah but that's nothing really to do with this Ty rout I said said so would this work a little bit similar to like the ordinals where a set has to be assigned to the stable coin asset um you know can't no no I don't think it's set based I think it's just like transaction based um you minting a asset on there is like an onchain transaction I believe we can probably pull up the ones I did actually Mint one on testnet remember about 6 months ago my own I'm Tes what was it called I think I did a GBP C oh nice can you what the URL is for the universe uh the URL for the universe www wait for this ter for you within the T rout assets going to be annoying one isn't Universe yeah so universe is kind of in control of keeping track of what assets are on um on the Bitcoin blockchain and like what they are and how many of them are there who who controls that Universe well anyone can run a universe there can be several universes sounds like I want to be running my own universe so lightning Labs have a default universe so like when you run it all it connects to the default universe so there's actually URL you can go to and see all the assets minted in this universe Kev you got your own Universe yet no you going to create one we can do well do you want to go in annoyingly you look at what's been minted on the universe when you see it there is like there's some p is it Pepe on there well last night there was about 200 assets there's now 12,000 asss minut a b this morning and it's full of these pep is getting early because it's assets um people building out like nfts already on it so get ready for that very soon which we knew was going to happen it's going to come but that only comes with as long as there's just price speculation element to some of these that's where the demand will be but as we saw with like uh or ordinals the demands died very quickly don't last long do it no um so yeah what I've seen so far is yeah a bunch of men F kind of stuff and then just people like making their own coins in their own name just playing around with it by the looks of it it's just like Universe do white wibes yeah it took me a while to find it so it's um I was in that like documentation when I found it it's what's the block Explorer yeah um we can find the we can drop the domain of the the check that out so this is the first kind of release on minut and the first all now it's like it'll always be backwards compatible now so everything that's minted on chain will is basically support is there any easy ux to to actually do that Min anyone is that not yet no people are building that out but it's all command line at the moment well it was when I did it that's all come people that's when you see like with the nft things and people throwing all sorts offf yeah yeah once it becomes easy that's when it BEC spammed MH um yeah and then you might see the whole we saw with or know obviously the men pool kind of backlog about say that have the same effect right yeah so we can probably expect that in the may we need bigger blocks controversial Dave but it's very cool it's been in the P for a while um even more exciting when it's they launch the light inside of it so not just um Unchained right yeah check that out it's one of them annoying things where it's like there's a need and there's a demand in some ways but then you don't want it shouldn't be one of them things where just cuz you can build it and put things on it you should it's kind of like cuz people will put the nfts on Pepes and things and you really probably shouldn't um but people will do it because you can it's that same question even for bit VM we talked about it's like yeah just cuz you can do this and it's cool should you do it or should we focus on bitcoin being the best payments mechanism yeah you know and that's where I think it is that uh it once the real world use case if it doesn't have a real world use case it will slowly die over time it'll just take some time to do um so we will just short to midterm might have to deal with the Fallout of people trying to find a real world use case for their nft for whatever that may be yeah pretty cool cool topic pretty cool um Honda Honda and Ferrari accepting crypto payments yeah and in the US and has eyes in Europe too so actually this one I've only flagged up because the Honda one was like two weeks ago is it they they announced that they were accepting or they didn't their partner announced and actually got pulled really so Honda clicked onto this and said no we're not and they actually pulled it very quietly really yeah which has never happened here so fcfp that was it yeah's been susp reporting about his partnership um so it's another one them where it's fake news so this is my sweeping oh yeah bring that back um I think everyone's missed that yeah no definitely yeah so Honda news yeah was I don't want to say fake in some ways but it was a partnership from a company that Honda didn't know anything about and have pulled it um and the Ferrari one I'm I don't know on that one either I've not verified myself of whether how true that is and who is the partner they're dealing with why why would they why would they just not let ride Honda why would you pull it if it's like it's a so third party agreement with that company because you have people going and trying to pay when you and then obviously also there a global business in several you know yeah but is it just is it like is it Bitcoin esgs problems that's what I'm saying the reputation no if you look at the FCF pay whatever it's got they're not like a they're a weird I don't know what you call it kind of bit refill style where you can kind of buy things through it and I they just had through some part other partner I think they had access to Honda I think that's why it came from um but it was probably like three Honda dealerships in r or something Hond one people turning up creting that prop we had this exact issue didn't we with the cash back thing at the time and and they got pulled in the um yeah so apparently Ferrari's Chief marketing commercial officer confirmed the intentions to um except CED payments but nothing nothing locked in really mhm it says it's not looking good until 2025 so so this is Ferrari yeah so they're not actually going live with it until 2025 what put said can't make strong before is fully booked till 2025 yeah so I guess so a strong order book do that mean that that's they've got the new cars coming out already sold they' already sold took payments so if you so do they actually are they using bit okay plans to introduce cryptocurrency payments in Europe by the first quarter of 2024 so it's only in the US at the minute by a bit pay Ferrari aren't bothered with any recessions now they're good cars sold till next two years that's all right I suppose that's that's always been the case for a lot of these car man don't make many there's not many does make sense so they need to be selling them now though for like two and a half years three years time to keep the process going otherwise it starts to fall and it's S A decliners yeah so you okay so it's a bit payable the Honda Jaz don't have that it doesn't give any actual dates for us though either or if it's live now if it's live or not cool there a very non story that you swept up there for go yeah uh there's one for you Dave coin Telegraph Oh I thought this would be part of your sweeping well definitely a sweep isn't it they swept their own self up didn't they they did a poor job of sweeping it oh they tried to hide the sweep unel reportedly yeah reportedly yeah s has anyone heard if they're going to get into trouble with that I don't know so what did they do brief outline they said that um an ETF which did they say black rocks ETFs is defin has been it's been approved approved that was a initial tweet and it came with like like in full cap red lights on it you see it h of Twitter verse got on board price pumped and then they realized they didn't have a source for it and then they didn't instead of deleting the Tweet they edited the Tweet to reportedly as a coverall yeah which is brilliant andet then deleted it and then said they'd have a three-hour investigation and then took longer than 3 hours and then that crazy giving themselves a timeline and then then they published all the transcript I think that's to try and avoid them getting into trouble surely yeah the transcripts it and they just realized no one had a source for it well no The Source was Bloomberg oh blg terminal that might have been in tegram so it was a fake screenshot from random telegram Group which was a pump and dump telegram chat it was just like what that was it not a great look well and all of that happened within a good hour wasn't it just an entertaining entertain entertaining afternoon for us like price went from we was it 27 just it just gone over 26 269 27 I think the candles amazing it just went crazy and went to past 30 Jed it um and then back down 7% I think in 10 minutes and then back down not quite as quick but yeah just all those memories of Glorious volatility days so low 27 straight up to 28 and then it PE up at 30 I think didn't it yeah it's just probably on this this site is not to the minute like yeah it literally happened in 10 minutes the main prize movement I think yeah mea but it was interesting to see that reaction based off people true thought of the approval and then everyone thought there was an intern with some sort of trade going on theying book it got mean like crazy are fun Millions wiped out didn't they million human but but it's that impact of what an ETF means I think to people it's interesting to see it's almost like a trial run by it's the the impact of one tweet yeah that's what about that's crazy yeah but also was like all the other so legitimate um places reporting on it based on the back of that trip like Reuters reported on it yeah what's going on if you were in the coin Telegraph office you'd be like no oh no just realize what they've done yeah but there was still some people because a load of people tweeted it themselves and pretending and then not putting a source as well and it was almost like they were then the breaking and then they didn't delete theirs till way way after like coin Telegraph had but I was just looking at thinking this is absolute f for Regulators this I mean you cannot do you like rep reporting on plc's you it's stringent structured you have RNs reports at certain times so the market isn't affected yeah all this but tweets have in the past have impacted share prices in stock stock market oh they have inside of knowledge what's been then leaked El's been in trouble for that before because him doing it but somebody else leaks something that nobody knows who it is and it just goes into the news like one did then a fake leak of what it was but that happens in the real world and Stock Exchange side already that is already a thing yeah what was it with the um we talked about established news Outlook tweeting about a share price well Ro got it wrong roers tweeted that well how many others do we not pay attention to that this would happen to it around the world without a doubt that happens with share stuff though that's a lot more verifiable especially if it's PLC the information should be public you shouldn't be no not if it's like these guys are about to get acquired by somebody else and the price spikes well they shouldn't certainly shouldn't be releasing daylight that well no they shouldn't but somebody in that's in the no and then leaks it to the media the media is going to print it they want to be first to break in news and make the point of it the editor of coin telegraph was it was she in Dubai or something and then she'd been questioned about it and she blamed she blamed the put um their need um to have to report stuff so quickly yeah so that's they have to break news okay just do what you want then I mean yeah you can have no standards because like blaming like um the current state of like jism and yeah the pressure is just a release stuff so quickly they can hold themselves a higher standard and not have to yeah it's like that's why I'm at Blom boo subscribe but they do the same no they don't all their that's subscribers are Bloomberg okay well that's what they all do CU they all be first because it's clickbait get get traffic so that is every news out you think slightly more in depth you think that with the roters though surely as well it came from the Bloomberg terminal I know it was a fake or was it a fake screenshot we don't know they could have put it on blbg first but yeah roers posted it and you'd expect them to be more and we don't know how many others post it and quickly deleted it we don't know yet anyway bit of drama it was an hours worth a drama um my favorite part was their internal messages about adding reportedly to the end of bad move what we time uh 45 45 um 40 actually okay uh timeout trees coming back to a techy conversation so take heavy today this is all over my head the it is time out treaser a proposal we can probably bring up on there miky make sure I get the name right again who comes up with these names by the way like timeout trees who the person who's proposing it we'll tell you who that is in a minute once mik pull this up I know you get very far with a good name though going you if you drop John La John so John law came up time iteration there bation yeah it's good um but the idea of this is uh we won't obviously get into too much on Tech side but with the channel factories um they had a couple of issues which is one of the things to help try and scale lightning um even further than it could in terms of us five in the room put an unchain transaction all together into a factory um and create a channel off the back of it but that means so we've got like five of us having access to lightning Network MH with one Bitcoin transaction should say um but that comes with problems and time out trees is the proposal to try and solve some of them problems so it be can become a real commercial thing was it you that came with like C we've definitely had it in a conversation with some quite big businesses about lightning scalability and how long it would take um for everyone to open a lightning Channel without any of the scalability and that was one of them M I cannot remember who was John John control put the Tweet out tweet thread calculating how long it would take to open it to the the world um but when you bring so he talks about like Channel facturers and things like so once you start bringing all these things in that we're aware of right now that will be improved and scaled on you can see where that comes to and then there'll be additional things built on top of all these that will help scale in that's like any technology every iteration of of things brings new Concepts and theories of we definitely spoke to as some proposed partner and it was like they would that was that book b there was like it would take too long to give a lightning channel to everyone in the world if because you relying on nonchain transactions thing boom yeah no no he doesn't you're wrong and they they don't understand why remember that I was just like and you just arguing about scalability for ages but they don't understand that's another step in that that was a big big player yeah I can't say who that was cuz that was big big yeah I maybe we should just go back to that big big player uh I've already I already sent whole uh description and I actually give him John control's tweet thread explaining it all on email doing all that yeah that's quite interesting we've had uh they did here yeah we have hit these we've hit these blockers with people before about lineing scalability and this just smashes it yeah um so yeah it's another another piece um added to lining it does need however uh CTV CTV which is a controversial soft fork for cover on bitcoin so stuff like this always raises the question of whether you should change onchain to benefit lining isn't it which is always a debate to have I suppose that's where then you see the likes of like Arc that cryptal as an alternative to lightning and actually it doesn't need arc doesn't need CTV no but it would also help Arc as well I think yeah um so this why would you change something like ACC say on chain to benefit lightning when you could actually just theoretically make a different version of lightning slightly different way that doesn't need these onchain upgrades Bas layer upgrades get to that point now most of the arguments within the community are more about how whether the base chain should be aifi by now or how we should bring stuff onto the base chain when we should bring it on what for um which quite interesting kind of arguments to be having it's like you kind of internet I was trying and think or explain to people with that like with your internet and that's effectively the same underlying technology that's been there for decades but you you have faster internet speeds through broadband and through all sorts now 4 5G even on six I don't know where we're up to these days um but that's like improvements of Technology along the way but the Bas has effectively stayed the same technology under underneath mhm like at what point do we draw the line in the sand and bitcoin's kind of verified yeah are you ready to draw that Line in the Sand I don't know where where which side of the sand I lie I think the one thing Adam back always said about he would be happy I think with the horific on the point of uh what's it called uh begins with s uh one other upgrade of had okay um I can't remember the name of it and he was sort of said he would see it then as more comfortable to be able to then aify after that point because you could theoretically kind of do everything but now bit VM that we talked about earlier you can then start to can you do everything with with that plus these other things that are coming so maybe one more soft Fork upgrade would theoretically be enough to aify it for the future um but even just organizing that soft Fork is almost impossible I think which it might mean we've already aied at this point yeah does it does it get H does the time to get soft forks and get longer and longer it's much much harder now yeah I think it's almost impossible to actually get one through so like how long was tap rout uh like that was yeah I mean the seg one was the the bigger blocks one but that was the the battle between segue it was what four four years was it I think from three or four years um and then tap rout obviously was then the additional kind of on top of that which was always planned at the same time but so does rfication1 strength you need to be aifi in my head before nation states really get involved because that's the part where it becomes difficult um because if a nation state can have power and Sway and things they will and they'll try what was that thing someone shared it yesterday about something going into the Pentagon and hasn't been seen since that was why I John lar lar I think he just deleted his Twitter he's active on went got shouted I didn't so he went he got invited to the went in there a yacht then shouted out and told he had to take his book down from took his book off being sold by the government oh is he did say that space is that really expensive book so we talked about it before yeah and then I think he just stopped TW yeah that his last tweet so that was a year ago now Bo he he posted on suspicious his last tweet is about being invited to a white house and then he had to take his book down and a year later been heard of okay I see him so everyone's kind of like where's he gone why so it's just cuz you said nation state adoption I was like the last guy that tried his we'll see you another time guys we're going to join Jason right quity see I would be intrigued genuinely where he is and what he's up to he does post on LinkedIn daily but his space force yeah I think he just doesn't tweet anymore people in the community don't go outside of Twitter no okay first thing I did was check him on LinkedIn he's poting daily right okay but SP he's not Bitcoin so he won't talk about Bitcoin see that's interesting silenced Yeah by government I assume it's you kind of understand because he has a government position and he does and he's fairly public now you can understand maybe the government's come down on that a little bit um I wonder if he left the space force role would he then come back to talking about Bitcoin yeah funny there right it is interesting um what else we got uh I think last oh no two more Tesla revealing they didn't sell any of the Bitcoin in Q3 um which is just public company so obviously it comes out didn't buy any either did they just just did nothing did nothing um there's not much to say on that to be honest it was more just a flag point and the last one uh spiral this is Dave wanted this one so take it away spiral making the Bitcoin 101 what did we all think of the educational video ien watched it I've flicked through it and what did what did you think of it when you f for M have you seen it um part of it and what did you think of it I mean there's a reason why I didn't watch all of it okay did you watch it I told you I'm not commenting on this one did you watch it I've seen bits of it watch watch the whole thing it's really it's really hard to get for you Ry I watched 20 seconds and I've not got time for this and what were what were you feeling like kind of cringy very cringey I had I wasn't playing up with audio as well so I was just seeing it yeah this this is really the a me to watch in the minute yeah so they just released it on Twitter sure the actual audience intention and yeah what it's the purpose of it just try and get more people involved because they've gone for a Sesame Street vibe I mean what's the audience but I mean if you got a ton of money this is one way to spend it I like the descriptions was like we aim to make the greatest Bitcoin 101 video ever instead we made this acknowledging is it is it is it purely irony then am I am I missing the joke oh yeah if it's satire there is a huge satire then but it's not because that's why they post I think whereever this is that they actually do think it's quite good and they're just like who is oh we didn't make the best video ever but we make a really good video look at this I mean it's a great costume look that's that's Co I kind of something it kind of looks like you if you were a Bitcoin grumpy yeah if I was a Bitcoin I would look like that all right so maybe we post a link and people would love to hear people's thoughts and feelings on it what is the greatest Bitcoin oneon-one video ever made this is this up there there used to be I don't know if there is one well I don't think this is a uh oh this might be an opinion got him real him in you don't think this is the greatest no I think historically the um what's going on here the bit YouTube videos that was up there which is just the um uh what is it the sort of not cartoon one but it's like diagram drawn sort of one that used to be the historical one of bobice it bobin Alice might have Bob and Alice in it I think but it's just the main kind of what it used to be the one like on whatever and it used to just have it um which was one of the main ones back in the day okay I've just seen a subtitle Bitcoin brand has a problem Bitcoin brand yeah I don't know if this helps the Bitcoin okay okay L don't know what it's for it's 9 minutes long so it's a you know invested kind of watch for anyone not in the industry so it can't be like go on a it's not like TV adver or anything it's more just for our own Community it's just an accessible video for people I think was one I agree with like was saying that for people outside the industry if you're not interested in Bitcoin you wouldn't give 10 minutes of your life to to learning about it a fair Monster eating pigeon you also need to make sure like you're it's kind of it needs to be aimed sometimes at the outside industry I think this is definitely aimed for the inside the industry yeah it's got inside joke Vibes makes feel it it takes the maturity of the industry out of it Financial instrument I'm not sure you think it's slightly damaging I don't know I don't to that far I mean he's pay like quar million 300,000 views and what it anyone listening we watching time that I mean if this is not okay potentially satire then it might be perfect might might be clever yeah I'm going to give it a maybe maybe clever that we're missing the point maybe that could be it we the joke might be on us right now over our heads okay laughing at yeah but I just I can't see this video being shown at like it's hard to show a video of something eating a pigeon in a piece of bread and and like take bit serious about money I think things going change the world yeah this is the yeah okay we respect spiral guys and everything like they're great um sure they are are they are but there AR yeah they had some good fun fil they've had a good time yeah um but yeah I think you the question that day for me is why I would even want to talk about this is what is the best Bitcoin education like 101 video out there I honestly don't know which one I'd push to people to make one do we need yeah does the indust I don't if we I don't think we could make the best one no absolutely not we would never be able God no I don't think we somebody could and I would love to somebody to do that he could do a d with his renders was two in them too yeah in your own time obviously business time but um but I think it's also you've got to I don't think there'll ever be just a one no I think because every a videos I always really like but they're not Bitcoin videos macroeconomy videos you can kind of see a lot of other people wouldn't like that but you like it because you're the audien is think a lot of people like interest yeah I like them I really like the red Del ones I think this is the thing with Bitcoin where you've got such a it it such a varied audience like maybe it's got to be different at that segment yeah my kids would be terrified by that it's eating pitch show your kids actually that'd be interesting my kitchens show my Kitchens on the kit show show show my kids a monster eating a pigeon they're not going to be intiated with Bitcoin that would terrify them literally they'll be a put night going oh okay so that nightmare material I look look at that look at that clip can you P that on and we look at that show my kids that so who's it for then Bitcoin what bitco is a terrifying monster so who's this video for I'm D it's an Insider joke it's for the audience why put so it's for Bitcoins already why put so much effort and time into it yeah it's a long video for an Insider joke it for like young we just don't get the joke I don't are we just old maybe is it maybe it's for like the Next Generation yeah that's what I'm saying is it for like the Next Generation coming through education JY but that's what he's saying they're going to scare it's going to scare them no like older Da Kid how old so I wouldn't scare you I don't know I'm trying to find out what the audience it might go viral it might be popular pretty viral sometimes the weirdest ones go viral don't they nobody gets them maybe that's what they needed a viral video around the functional one what was that weird one we seen oh was that weird video from Gemini wasn't it yeah that was just that was weird that was a bit abstract was I think it was was it about coin weird one as well trade yeah but weird actually we're talking about this video IND it's just like the contagious Point that's the key point for me it gets our industry people talking not people outside the industry and I think that's a big thing at the minute we have to educate people outside the industry it's not really big I'm also wondering if this is American humor and not British humor that's why we're we're not that different I'm just thinking sometimes we can be Conor's British Conor did this oh did he he's in it oh we probably over analy day really very little resource for probably a tax right off right anyway right that it yeah right I think that's the end of the show cool thank you guys peace bye [Music] bye [Music]