Jack Dorsey Advertises Bitcoin at the Super Bowl | Britcoiners by CoinCorner #115

Join Danny, Molly, Zakk and Dave for industry-led opinions on important Bitcoin stories from the week. Topics this week include: Dave sold Bitcoin, New Zealand Bank Governor says Bitcoin isn't a means of exchange nor store of value, Kraken exec: Super Bowl’s global reach not enough for crypto ads, Jack Dorsey wears Satoshi T-shirt at Super Bowl, Joe Biden dons laser eyes, Peter Thiel's fund bought $100 million worth of Bitcoin after FTX crash, Robinhood CFO: Bitcoin ETF activity has been additive to crypto demand, Genesis wants to sell $1.3B GBTC, Crypto greed index hits highest level since Bitcoin’s $69K ATH, and an Office mining update. Britcoiners is a Bitcoin podcast by CoinCorner (https://www.coincorner.com) - a global leader in Bitcoin and Lightning services. #coincorner #britcoiners #bitcoin #bitcoinpodcast #bitcoinnews

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


oh they're trying to spin it yeah well I'm outing them now saying 100% they're all all them casinos are trying to spin [Music] it welcome back guys uh welcome back Danny Dave thank you for having us back mlly [Laughter] welcome Valentine's Day jeez you say that remember didn't miss that one did you like my reminder yesterday oh I got into work and totally forgot and then had to send my wife ATT text the best one was got to work today and forgot yeah spoke speaking to even though I reminded everybody El there the best one was G he was like what is that today yeah then we said did your girlfriend not saying that he said yeah well she said Happy Valentine's Day like so did you not click on that yeah imagine someone said you're like a partner of yours saying Happy Valentine's Day and they're not saying it back just not really why you saying that Weir you going to stay what do you say back is like one of those situations where someone says I love you and you say thanks yeah it's a big thumbs up I think on on an episode one time he was asking me last week why he didn't get an invite oh well next time next time we're away we had the B team on we can bring the C team on next C team definitely be material I watched the last week I thought it was good did you did you watch your right to the end when I gave away for oh no okay that's a not right anyway welcome back uh agenda for for an agenda that we said there wasn't much there's actually quite a lot now well what okay uh Kraken exak he's come out comments about the Super Bowl with crypto ads um Joe Biden is non lader laser eyes uh PS Founders funds of bought Bitcoin uh crypto greed index uh Robin Hood CEO has got comments about Bitcoin CFO you said CEO but CFO oh Okay C CFO yeah good eff for um Jack dorsy he was basically just a walking crypto ad at Super Bowl Bitcoin ad sorry um you can addit that bit out Mike you said it J say C scale ETF um an office mining update and Dave sold Bitcoin that's a good topic that makes yeah start that getra the remember we got be professional so remember to like And subscribe if you're enjoying this content guys mhm please I don't think I don't know if anyone liked I didn't check last week if anyone liked and subscribed but please why should they subscribe M how does it help us helps the channel grow helps Channel grow y what does that do it helps us be better helps wider Bitcoin education to the wider audience and hopefully get the honest Bitcoin opinion across to people rather than the clickbait headlines that you see in the news help coin Corner become number one no nothing to do with coin corner I'm trying to get Bas big is Bitcoin coin Bitcoin it's Bitcoin education anyway okay bitcoin price quickly live price 51,3 again has changed that's what's on here I like say just say it's nothing to do with coin cor and I'm sat with not trying to be click ba but Dave so bit that'll be the head Landers yeah okay so last episode's price was 44,800 so we are up quite considerably mhm um cracking cracking anyway when did you sell then right yeah did you sell before or after few minutes ago no no last night right I everyone knows I my savings are a Bitcoin every Fe straight into Bitcoin pretty much um and then let it sit in there so all my I do have to sell for cuz savings like GBP requirement life gets in the way and I had to so you're saying this this sale was for necessity kind of right as you you're and your family trying family necessi was it for food no well no no no no they're experiences like life gets in the way so I have to pay for a family holiday which is fine but like I don't have Fe savings I just have Bitcoin savings so I have to sell for those few expenses and there so a summer holiday last night real Bitcoin has wouldn't gone on holiday Miss no because everyone says like real Bitcoin have terrible cars terrible houses and like no life life happens Bitcoin can't get in the way it's just part of it now so what it actually does is when you have Bitcoin as your savings it makes you really think about um when when you're actually going to turn that into and when you're going to spend it whereas traditionally you might not think of it as much cuz cash is cheap and you get through it the decision more hard decision and me and my wife were very much like go should we like we need to book eventually the boats just going up in price and very spiss and pieces and you know you restricted on timing so I literally just had to sell last night and it was probably for an alternative and the the only bug bear is that this like like the reverse boiling I I sell kind to pay for a holiday and the price pumps from I think I sold about 48 from now on don't sell to me when you sell I'll buy it off you what at the same market price yeah yeah because then I can know when you're doing it and get the reverse boiling oh should highlight it more or just put it in the chat it's just an annoying though because there's a bit obviously there's huge amount of upside in terms of putting all my feat into Bitcoin like in terms of the price especially right now but you just get sometimes this there's an annoyance when the price pumps after your sell and everyone feels that I'm sure sure never s but no you have to or or do you well or well or do you do all coming together very nicely or do you listen to the next part might have something to say on that listen to the next part I have to yeah and it's but I don't mind you you have to sell life life continues way going on your holiday um a bit of an adventure there a couple of boats involved couple Europe visit few campsites road trip bit of a road trip in the Honda Jazz no take the other one no reliable yeah but anyway so that's I did sell but you know and we're now at 51,000 400 hours later hours later we you're welcome everyone in the office having you know good laugh at me it's 12 hours later is it no it's not remember when you was it you that bought that tent cannot you you can't regret your purchases you can't regret your Sal yeah that was low as well that was like 20,000 you still use the tent yeah God I'll use that tent until it's interact still getting my money wor out that yeah that that that 10 is obviously the Bitcoin price is G up you know 10 times maybe even more since I so I'll purchase that tent but I just don't think cuz a lot of people do use that mentality don't sell just storage or but you you can't if you're if you're as as I am yeah you do have to be big advocates for like spending it as well if you could like bought your holiday with Bitcoin through the the boat Bitcoin if I could quicker easier yeah simpler yeah much better 100% um but also right on another thing the New Zealand like Central Banker one of the topic one of the topics was saying it's not a good store of value he's literally quoted saying that I would but like I'm just that is my proof is what a gut-wrenchingly good store of value it is you believe I guess isn't it that's what he'd argue well jeez play proof I put on that one isn't it but like it's it's such a good store of value that I like I regret every single time you have to sell it because you know he also L stable coins in there but oh my God interesting yeah the guy almost matters what stable coin is backed by itself really yeah of whether the stable coin is a store well stable coins are not store value because they're a currency which is not store of value so it's like yeah and it's the same argument like like fat is backed by the New Zealand government and the New Zealand Central Bank is like okay we are forgetting this New Zealand Central Bank were the ones that came up with a 2% inflation Target so true you know they are the experts in the room do you know what they're doing what is their argument on that then too cuz I'd love to ask this is what frustrates me you see these headlines see these people saying stupid stuff on news and xwi head and then I'd love to sit down in a room with them and just have that conversation and say why do you not think Bitcoin is a store of value a good store of value and just get there I don't understand as he said in the article about it does he explain why he doesn't believe it is was he just he's saying just a statement isn't it and usually no substance to no they they always quot volatility yeah but that that's not you can't just that's mean they're just quoting things but actually if you look at the volatility of Bitcoin it's been decreasing over the years and has continued to decrease time and but this they're just using key pieces of information that they've pulled from clickbait headlines that are usually not true anyway um to try and cater for some sort of agenda and argument it's like when you actually sit down I mean we have had a couple of situations where we've got to sit down with these kind of people haven't we with one of them being the I think we spoke about on the part in the past where uh he was one of the big money movers should we say in the world um and he once you sit down and have the conversation with him on the front face side he'll be saying about how great the company is and great all the things they do and all this and he didn't give a crap he didn't give a crap about anybody anything else he he said if he walked in because because of their status quo keeps him you know particularly for that guy a high gross profit margin uh organization whe where they were in a sweet deal with another organization that they didn't want to disrupt all and if he said if he walked into a boardroom and was like an ADV for for anything that disrupted that might be Bitcoin might be stable coin or anything else he said he'd get laughed out and that he'd probably lose his job because they've got a good deal going for them now that must that is the same if you're in fear currency with governmental control and Central Bank all shortterm thinking like selfishness thinking my term or my job is like kind of I should check in the news and see what he's put out in the news and see if he's had any public comments that would be interesting no not the the guy we um see if there's any public comments and you could we could almost say what we know what he's like behind the scenes and what his opinion is versus what he's publicly put out that was I remember that was a really weird meeting for us to have cuz we left it we just met the enemy we were T we we just two two yeah two different Paths of the battlefield really turned up in shorts and t-shirts to meet this dude that's yeah moving money at very global scale we just were not ready for yeah uh and he was not ready for to be quite honest I'd say more more than anything no um no which but they weren he would never change no no s his ways it just kept well he didn't he was looking to sell the company w't the in exit within 12 months and that's what he was focused on so he didn't care about anything else so he'd say and do anything he could to increase the value of that sale um and not as Dave says not disrupt the status quo of his his client um which went against human rights honestly but the St such a powerful thing we see we've seen in so many meetings in terms of you know financial advisers not want to disrupt their vanilla portfolios it's just keep that calm ship no one wants to take a risk on their job you kind I can understand why completely yeah I mean it's our job to make yeah the [ __ ] you right can call them [ __ ] but they're just they're just doing that doing the jobs it's you know the risking where is it it's not even yeah it's not even it's it's more of a risk to stay within the status quo isn't it for their for their actual customers they're too oh yeah yeah the two think it's selfish in short term they're thinking about their own but that's what he was he didn't care about his customer think about anything because he was selling the company retiring in 12 months so after that he couldn't give a crap what happed to the company and what happened to some customers he was out and made made his money disappeared so it wasn't like theoretically for the customers he should be saying actually we need to innovate we need to do these we need to make sure as a future for the company a future for the customers and he want at least be open to it and like explore it rather than people think the tragedy if the Horizon is just specific to politicians you know because of their four years short cycle it's not all it's literally applies to a lot of businesses as well specifically that guy yeah anyway anyway soon um Kraken exec said the Super Bowl's Global reach is not enough for crypto ads did anyone advertise it did anyone watch the Super Bowl yeah no you stayed up I watched it any good that was all right I don't really understand the game itself do you watch it no no I've watched it in the past but not it's I mean is it is it just is it was it on TV like here is it ITV is do they have the set do they just have ITV based adts they yeah I don't think show speci in America is a big deal isn't it the adts they they cost literally millions of dollars per minute everyone talks about them production val5 million I think for bit pays back in I think they've overhyped that though cuz in terms of viewership like it gets lot though you compare that to like a World Cup or even a Champions League final tiny they get over 100 million but look at World Cup final World Cup's way bigger lit look at the I think the point Mr Beast gets more doesn't he RAC so like why would you pay you'd be better on that I suppose it's the eyeballs off the thing so the adverts that do well do they end up in the media and then people seeing that's saying it's been hyped up as a thing to do which raise us the price of it to do it did they not publish a list of actually who's going to run the but yeah they shocked and stuff it's all part of the actual almost part of the game the entertainment buildup you go FIFA World Cup beats Super Bowl by more than one billion views yeah so yeah it's not even in the same playing field but the World Cup's also it's harder to advertise on because it's won half time for like 15 minutes endless bres like the NFL it's uh heavily fered as well isn't it with the usual sponsors they have had the the leading ones throughout the whole tournament so was it 2023 was FTX advertising I think wasn't it FTX had a super they had a Larry David advert yeah was it that last year might have been they crashed might before the year before they crashed actually 2022 the 2022 FTX I think the exec grham mostly said it's because they believe they it's moved on from that the fomo um yeah kind of marketing more into education so they didn't really want to Target kind of I think they're all short clip no offense to him I don't know the guy but I I think that a lot of that is coming Point Bas you've seen the same they're all pushing now of oh we need to educate it's because of regulations because regulations are stopping them adverti using the fomo tactics they're now having to Pivot and say oh yeah we're being good guys now we're going to educate rather than fomo realistically they want a fomo 100% realistically they do whatever works so fomo Works F work for the casinos they worked and then now they're having to Pivot but they're playing it like oh pivot because it's education better way to I why they would do that they're trying to spin it yeah but I'm outing them now saying 100% they're all all them casinos are trying to spin it coinbase is is terrible for you think the consumer seeing past it as well like cuz FTX are advertising everywhere right the majority of most of these exchanges that [ __ ] going because you know what he wants most of the volume would be in Bitcoin right this which is a commodity low margin l low profit Marin anyway you just think if they can spend all this on Advertising they're just burning through funding it's not long term so but would if as a consumer I think about this stuff and be like why are they spending all that on like advertising everywhere maybe people don't I think the majority of people wouldn't know cuz I just think that's not sustainable you must be it never is like there's always examples if you look back in even our industry with coinbase is a great one back in 2016 was it something like that when they did the affiliate scheme of 7 you get $75 you person you're referring get $75 all you have to do is register an account and did you just register buy $10 worth or something ridiculous they were literally giving away $150 to anyone that would just come and join up and they were doing that for the agenda behind the scenes to pump the numbers to get the next round of funding So eventually you see hindsight and you can kind of see what they did yeah um and they did that for IPO as well and P they're not going to make that sort of Revenue off that customer are they they didn't care they were trying to get extra out of funding to then push for eventually an IPO so just a l them grab it's it's yeah and maybe eventually they will because then users become long-term potential users they tell other people in Word of Mouth and it spreads and you know it's done well for coinbase in all honesty hasn't it when they a hundred billion dollar company now that's um managed to do that by spending and doing them tactics I think they're dirty tactics along the way um or I was wondering when we're going to get some hate in for coinbase because out it like you were actually was a no hate podcast last week was it boring podcast on me and Danny the um because coinbit had done well for a casino haven't they I guess is the best way to look at that um but in terms of actual Innovation and anything of use yeah they've not done anything they still haven't they're still using one addresses as we spoke about yeah um it's just yeah ridiculous ridiculous anyway anyway but on that on the subject of Super Bowl advertising was Jack dorsy that to stole the Limelight he stole the Limelight and he didn't he didn't pay didn't pay for any advertising did steal L is this in any mainstream Media or is it just Twitter going he's wearing a SAT shirt just Bitcoin Twitter I don't know that's The Hollywood Reporter up there that's quite a big one isn't it yeah but who wrote it I saw the Google Trends and spiked at the time then he was there Yeahs for Satoshi I guess so maybe it did shown on camera at the place I guess he did a lot he did he was next to Jay-Z and be they just love showing celebrities yeah yeah it weird scene Arrangement he was so JayZ was behind Beyonce and Jack dorsy was next to Beyonce he's just sliding in there yeah so my thought process with that was then if the satosi spike um people probably and the outside don't know who uh Jack is like nobody knows who Jack dorsy is realistically outside no offense that he's a wellknown person but he's well known in our industry he's well known in the entrepreneur and start lot people know him by name but not necessarily by Facebook I don't think even people know him by name mostly the the Twitter guy you wouldn't know yeah no but as soon as you say he's the founder of Twitter they go okay cool but they don't know who the founder of Twitter is I do you know who the founder of Instagram is co-founder who's the founder of Instagram who's the founder of Tik Tok Chinese government with that's but you kind of get the don't know who is the F of you don't know so because we know Jack so well in our industry it becomes we think everybody else knows him but they they really don't so they probably saw some random dude sat next to Beyonce and Googled his name on his T-shirt and tried to figure out who he was I can't remember if like the commentator said every time they panned over or not but I did might have yeah so we're talking about Taylor Swift too much the big old Spike that's the Google oh yeah online you got all fine yeah CU it probably would have mainly been America for rather than worldwide yeah that's worldwide though but okay that's still quite a big spite yeah yeah worldwide past seven days just Google satosi what comes up I'm very interested to see what actually most people would have been Googling because they don't know what it is yeah story would it toi Nakamura Wikipedia yeah okay would have been quite useful thing tell who makes that t-shirt in I think it's um it's a little company actually it's the lightning store uh what they called is it Ln store is it or Ln something yeah I think it would be just be a great move to send Jack dorsy some free t-shirts in case he wears him he has our socks hard get feet should that's the problem with socks fundamentally might always been my issue they hidden yeah I know but it's a subt thing is it well they there two Salt there you go it's called just called lightning store lightning store I mean it's a cool looking t-shirt I mean it's just a Nana t-shirt ripoff smells like an homage so so oh there insir by cor loves husbands band yeah all right well burn wow that's pretty funny I assume that's probably why people so recognize the style of it and Googled it w as well which is it's good it's interesting way to pull people in he's done clever the second year he's done that though he did it yeah he did it last year cuz people were saying that it's interesting that Jack cut his hair at half time because there's a picture of him with like a same t-shirt he was still sat next to Jay-Z the year before as well I think JayZ changed his clothes so he's do always wearing course he six next them two that he knows are going to get T he knows this will get Bitcoin attention yeah it's great process very well played yeah outfit repeat I just wondered how many more sales have gone through the roof of that t-shirt that's that would be good to we need we need to move on don't we yeah uh Joe Biden he has come out with laser eyes on Twitter so this the Tweet was for the Super Bowl as well I didn't realize that oh was it yeah it's a what his caption was related to the Super Bowl the dark Brandon yeah the dark Brandon meme yeah the word to say that they was all predetermined to get Taylor Swift on on his campaign yeah essentially oh yeah I didn't realize I thought it was to do with the mug that we was talking well yeah and then like that all months ago they launched a mug yeah laser eyes just coffee dark or whatever he said yeah it's very much their campaign leaning into this dark Brandon meme is what it's called well it just so happens that it's it's screaming Joe Biden is hip okay he's a bitcoiner he's he's a hip dude look he's not taking himself too seriously I believe I think in my head it's someone in his marketing department is a bitcoiner and they've played it and they're trolling him and used this other angle to go at well actually they're a bitcoiner with laser eyes comments are hilarious you're literally a everyone thought it was a parody account at first verify themselves okay so nothing to do with Bitcoin no no unless the intern that's done it as a bit secret bitcoiner and managed to push it through probably the same intern was it coin Telegraph and wherever else just some interesting campaigning I mean yeah this is only the start of the campaigning isn't it this is going to be a fun year for I can't believe be stealing all laser eyes it's more just frustrating on that side yeah it's people are going to confuse us there was ever an excuse to get out laser eyes though associate with the MTH yeah they'll think we're suppor no we can get out on at 10K I mean 100K sorry it's it won yeah everyone dropping them mine's just focus oh you so you're keeping yours forever all right I'm dropping mine at [Laughter] 100 it depends how many people think we end up sporing Biden you're just a Biden fan who did bid did it first um pets Founders fund bought $100 million worth of bitcoin after the FTX crash good what's your opinions on P do you say teal or theal teal right I don't know how you pronce I say it wrong it's for everything I pronounce everything wrong so don't rely on me for pronunciation God I was just seeing if you said it funny way I could go that's preposterous yeah I was hoping you to say something ridiculous um I I don't mind pel um he's got some controversial views in certain ways I think um I've read like his book and things and that Olympics he want to do yeah I mean that's I'm I'm all for that I'm I'm on his side for that one so he's gonna do a juice was doing the steroid Olympics but it's controversial yeah yeah um but I think it's if you want to push humanity and push the bar boundaries then yeah you do that um okay the might some ethical issues into him People's Health but if they will if their body their choice if they want to do that they can do that okay um people are already doing it regardless aren't they so it doesn't really make too much of a difference to them um and we'll get to see how fast someone can run um I think they the guy one of the guys already beat you same ball and you time wise oh I don't know yeah I think so some dude's already beaten I would prefer to see if they could get some something like a oh I suppose it's just a parent Sports tape like like an average like run an average Joe alongside these people so you can see the scale of like Improvement you never see everyone looks if everyone's fast they all look slow well he looked like that in one of the US bolt races he's miles ahead of everyone else they always stand out when they have those Olympians that like qualify from some um quite a small nation and then and then they somehow get heat with absolute lightning fast people or like a shot putter has to do with 100 meters for whatever Administration reason and you just go oh that's what the average I swear there's a do shop right shop or hammer throw it for I think you just like switch Sports no because I think for the administration Belgium shop put H 100 me head look so just I don't that's just you can't out no there's not like she had to run it for some reason I've seen other ones it's like there do you remember Eric the eel yeah yeah so that's a guy that couldn't really swim swimming against Pro swimmers no idea who that is you no idea who Eric the eel I don't know why this happened to a good play on Eddie the eagle isn't it yeah yeah yeah so she's not obviously not doing her event but that's what I would that's how fast I'd do it and that's what you need do that fast to take a break to take a break halfway through just run through I probably yeah but it's just interesting that's what you need anyway but I might email that to pet the and say that's what you need from to make to show the to show the comparison you need an average you need the you need help with your marketing Peter come we give me come we give Dave a shout a shout sort out um this book's quite interesting yeah yeah Founders fund I think is um an interesting like it's better than what they do in comparison to a lot of other Venture capitalists I think um how often do you seen how often do you find VCS buying like assets do they buying assets like Bitcoin they're not allowed to because they have fund uh criteria options things that they can and can't buy so they wouldn't be allowed to they'd have to buy equity in a company asset their LPS literally go into that create that fun for Equity but is it's his fun so it's yeah yeah so yeah I think he can have some wheel room interesting okay cool uh Robin Hood CFO you came out and said that um people were buying more spot Bitcoin than ETFs at Robin Hood yep I think this you yeah I like that just yeah cuz we had a month ago was it now something and someone was saying someone commented on one of our pods saying uh the ETF will be the end of you guys like basically saying like exchanges so yeah thanks for the support always appreciate the support um it'll be the end of like ETFs will Bitcoin ETFs will start to damage and and then uh Bitcoin exchanges which don't don't get me wrong you will lose some percentage to people just buying ETF what Robin Hood there is quite happily saying is people are still buying Bitcoin spot rather than buying the Bitcoin ETF see them as a completely different Market it's a different it's a different it's it's a different demographic in some ways can be the same demographic but a different products in other words so people will put the pension for example into that from a tax sufficient route rather than they might buy no but they might buy spot as well anyway um because they're treating it as the investment they can get access to now rather than something that they can't until the 65 they said 95% is still buying spot 5% ETFs yeah and there's a very small subset of users that sold spot to buy ETF I don't know how much credit I'd give it Robin Hood saying anything after watching that it's a very good point play with these the agenda that we need Dave yeah I watch that I was just oh my God it's good film that bad PR for them yeah um but no it's it's good I think that is the reality like 99% of the people out the in the world are there don't even know what an ETF is let alone the Bitcoin ETF and they see the Bitcoin price going back to whatever they say okay I'll buy some they they're not going to think oh I'll go and buy the Bitcoin ETF they don't know what that is don't understand what that is they don't even where that exists it's like we're in our little bubble that knows the Bitcoin ETF exists and we're all focused on that in our bubble but the reality is outside of that nobody has a clue um they don't know what an ETF is I mean did you guys know what an ETF is before we even was in this industry within the past year or two probably um you don't until you have to learn about it um so yeah it's not something that makes me think everyone's going to go and buy Bitcoin ETF now or they're just buying Bitcoin it doesn't make sense to me that they would um and that's just that's not the only reason obviously there's fees management fees and things like that and then retail based investors as well like look at how the man on the street would try and buy gold they just try and buy bully and buy post or whatever they wouldn't even think about a gold ETF no don't know what ETF is yeah it's exactly that and when you're buying the gold ETF they always think well actually buying gold here am I buying something that I don't understand like makes no sense um so yeah completely right yeah and you can only Trade It Monday to Friday then us time 9 till 3: is it or whatever is 9: till 4 I don't know what time it is these days so I wonder there was a big push back in the day to self custody your own gold there there was but America remember like was it um Rusev or someone that said you can't have goldo you literally right okay yeah yeah you took it off everyone everyone had to at they they put it in at a rate a fixed rate they would literally get everyone's go back and then immediately debased and increase the value of the goal so yeah you couldn't cuss self cuss the gold they made it illegal which is what people are worried about bitco exactly it's like history repeats itself an issue you got help they learn from yeah Le from history whoa whoa Roosevelt's there executive order signed by Roosevelt they've got the right president okay uh Genesis gray scale ETF someone three words at me before was like you no it wasn't me Rand so they ETF they've uh write that down okay they've requested permission to sell all their ETF Holdings in grayscale it's 1.3 billion um but they've Al also said they are going to give users back in Bitcoin so initially people were worried that there was going to be a massive dump from grayscale again but they're going to actually have to dump and then buy that back um so it shouldn't n itself out really if they go to the same OTC Brokers or whatever they may then theoretically they just say okay yeah you yeah sell at this price you buy back at this price and it's like actually there's no movement at all um so yeah I expect a big grayscale outflow for that when they get approval but then yeah they should buy it back people worried about another dump like FTX though I mean one even 1.3 billion dump at the minute it's what was it 500 odd million yesterday in flow 50% of it yesterday in one day so yeah it's not really a big dump at the minute when you're talking numbers um I this morning was actually that's why we was talking about oiks this morning the candle of uh we went to 49 is whatever at to 51 near 52 um and that was big volume that came out of nowhere and it's kind of okay where's that volume come from and is it theoretically then buying it back versus get ready to to sell it today don't know don't know what that is um would make sense if they had the cash to buy I don't know if they have the cash yeah I assume they don't that's why they need to sell it but if you could pre buy it pump up the price and sell ETF that would be their tactic you got to imagine but um I guess we don't know M um but yeah there's a large volume this morning buying which was interesting um okay last point is Bitcoin mining update s this was was this not highlighted oh yeah just missed it oh yeah sorry Miss uh crypto sorry go back yeah crypto greed index hits highest level since coin 69 alltime high right i' love to see it I don't know how much I really do you not trust it no I it kind of correlates to some price movements doesn't it I just don't keep much of an eye on it I I I used to more um not so much these days yeah it's for me it's like more of a a trady Thing If you're trying to get in and out maybe you'd look at that and see price might pull back of it's at the top of the um greed point point but but you can see it's the top of the greed sometimes and it keeps going sever weeks and then eventually comes down but it's hard to I don't understand how it's higher it's the highest I don't I don't believe it is the highest I'm a bit confused at the headline P that similar price point to level since which is just that's not true unless I'm missing something 79 is not the highest mid November 2021 is it the highest since okay 69 got highest in two years basically never me yeah High anything for a headliner that's what means you have to decide for the headlin understand what he's talking about yeah ridiculous so it's not really any it's a non- news really it's the highest in two two two years and two months what but actually if you look scroll down Mikey here you see the graph uh do Max on the graph see it's still quite low when you look back back over history it's high but it's like you know there's pling higher we get in the '90s quite often the 95s here and that was Peak that was as was coming into uh start of bow really wasn't it yeah so yeah has it only been good since 2018 I thought I thought it was earlier but maybe it was a maybe they' just show a data for that yeah I don't I don't give it much weight that is a [ __ ] headline isn't it really yeah cuz you can almost say it's never been it's lowest now than it has been like this time 3 years ago yeah yeah going back to six years it's actually quite low compared to it well six years ago great get that in a headline okay go on hit us with the mining update not one not two but three blocks since the last boxes well done ocean three blocks in a week yeah and thank thank you Swan that so the race continues thank you our office miners yeah race continues for them to integrate lightning before we hit the minimum payout what will happen first who knows um yeah the hash rate St quite consistent you guys missed it so those massive drops in hash rate a lot of people speculating they were due to like basically most of the hash rate move into different pools when the ordinals were minting so they just soak up the fees that's interesting yeah to keep an eye on maybe more Behavior like that with ocean so as the nfts are getting ready to Mint yeah they know oceans AR going to find a block during that time the me spikes you don't get that I was listening to a panel in Dubai with um Luke Das Jr on it and he's getting asked about orals was he yeah and he well the question was thought he had to like he's very he seems he's very against horal how'd you figure that one out you seem and so like I think there a pro orinal guy asking some questions why and what not quite good conversation weirdly a lot of pro ordinal guys there but because yeah because there's a lot of minors there they like it elction fees and mine is going to be all over Orin there's incentive there isn't there it's true yeah um but the miners update on the miners though upstairs where we we leveled up yes I think we've only running in one day haven't we so far what a day what a hot day a new setup yeah basically we you're not wearing a half that's the same yeah yeah it's a very good point slightly un that's how hot I am so we have put uh so we heat our office with Miners and then but they were in they're in 3D printed cases which is fine and they look nice I suppose don't they but 3D prints don't um what's the word conduct it's not conduct is it is it conduct I don't think I'm not sure it's conduct I know what conduct means but I'm not sure word absorb the Heat and maintain the heat yeah I'm trying to think of the right conduct cond okay so but is it conduction is okay but anyway we let's get the DI later holds the heat yeah whether 3D print like yeah absorbs conduct or holds the heat um as well as metal so we basically just bought some essentially the Gard in Garden incinerators this is my genius idea we'll take well no I no no no I was trying to get one actually built it just cost more you was trying to get 200 quid built ones and I found so basically we've put we tried we experimented them put them in metal boxes with enough ventilation where the minor stays cool but the metal actually heats up but it's far enough away from the minor that it doesn't overheat the minor and almost exactly that square one then the case basically acts as a radiator the case as a radiator so would I and they seem to be working as radiators and kicking out more heat and storing heat for longer like the storage heat like the Metal's holding the heat longer itself without overheating the minor so I was just wondering if anyone else has tried these sort of experiments with mining heating things it works really well what you guys been experimenting though it's now February and we're like oh feary still that's the reason it's warming near when febru still winter yeah we get S about this time but there's one one thing you can trust is that Winter's coming right so so the prep is done next winter toasty yeah but that is a very like for the UK for heating so S9 in the metal what ends up becoming a radiator is there any health of safety with accidentally walking past that and burning yourself it's not hot to burn it's like a radiator it's like a radio you could touch it it's warm warm to the touch it was too hot the other day me and Zach when we first came in that 10 minutes in and it's hot it's like was just a slight air flow issue this is what happens when you're experimenting right it's never perfect first time but these these seem to have improved the heating well need more air flow going into it than it's already doing wor it's getting hot no because the minor is because we get warnings on them it's a good question the the the miners are very sensitive to heat so you can monitor the the core temperature of the chips and they do shut down if they get too hot and they do have a range which you want to it's like a fine balance of why you need enough room and a flow going through the thing to make sure that they do but not enough that they don't really you can pass that onto a metal box that's far enough away from the miner but still conducts enough Heat and the miner can run at quite high temperature like but also we get there's enough airflow from the bottom to keep to keep a thing cool so it seems to be working yeah but yeah it's just one to keep an eye I suppose but Molly's right it's nearly summer so I know we have been talking about it for M but we're ready for next year now more than ready and for UK we might be able to optimize it even more and then coming into UK winter next year or this year we might be able to then help advise people on what they their setup could be like for heating their own house in Winter both which saves them an electricity costs yeah and gives them some Bitcoin along the way yeah it's going to be a hard sell to an individual to put a incinerator it be to bitcoiners not to the general public um which the Bitcoin might take um it doesn't look that bad I think it looks better obviously do you like the look of them it's quite industrial isn't it which is what a look I like it's personal personal preference isn't it really yeah can't be wrong with a nice radiator we could make it look nicer you could paint it and make if you painted it black it probably hold the heat a bit better as I wouldn't put it out as much but it would hold the heat with my own radiators at home paint maybe we could try try that might look a little bit nicer as well okay okay to be fair Next Step well we'll see maybe if you have an unused Garden incinerator at home buy M stick in s put it put send a picture yeah best one wins wins a prize it could be a purely psychological though I'm not even sure is working more efficiently as a heater oh it is it must be it is up you can feel defin things yeah yeah when you walk past it you can feel the heat around it more so than previously it was just blowing the air going been saying yeah previously the the hot air was escaping easier I would say now it's being retained within the metal for longer and it's just all directions rather than just that sounds logical but some physicists could come along and say no you're just robbing people to Safe Paul actually energy out it's exactly the same shout now prove us wrong well and then CU then they can educate us and we can adap calling all physicists call us out we'll ask him all right there's a physicist in the office yeah he was telling me how high doesn't rise the other day Alec yeah what was he blowing our minds with that yeah it like push cold a down or something I can't I can't remember what he said we bring this to the next part cuz that's that's crazy yeah we'll bring him on to just explain that and then we'll make a that was how's a hot air BL mod is it cuz it's the air actually lighter cuz I can't remember what he said but he told me hot air does rise does it does it rise in conjunction think changes to cold air or something okay there a technicality you got me on so it's slightly less dense the surrounding we need to have this conversation with special guest next week it must be less dense because you can hit a golf ball further in hot air can you I have no idea right anyway that must be that must be just end it start about you need to in there and say guys right done well done oh like And subscribe thanks bye peace [Music] guys