Phoenix Wallet Implement Splicing for Lightning | Britcoiners by CoinCorner #96

Join Danny, Molly, Zakk, and Dave for industry-led opinions on important Bitcoin stories from the week. Topics this week include: Bitcoin price, XRP and Ripple, Phoenix Wallet implement splicing for Lightning, Update on Ark, US inflation hits 3%, lowest since March 2021, Responsible Financial Innovation Act could ban fractional reserve crypto, Ron DeSantis vows to ban CDBCs in the US if elected, Tory Party to remove Inheritance Tax if elected, Bitcoin inheritance, MSG Sphere, Bank of America closing accounts that use Coinbase, Bank of America charging illegal fees and opening credit-card accounts without customer consent, Dave got a blue tick, and Molly tried, Dave's Snipe Mining Update, and CoinCorner news. 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] scale from Molly is very confused or confusing everyone along with the selfie being able to see myself however you just don't look yeah they welcome guys well sorry kicks off this week with rambling Dave being a diva not one in a mirror because he doesn't look in the mirror who needs whatever I've got a blue check now mate I found me a diva so the tour is letting me be a diva what not one in the mirror I don't know wants us now just divor about anything now you need a mirror hmm Dave legit your hair was like Krusty the Clown this morning so far past care it just doesn't matter does it does it really matter what you like I mean it doesn't change who you are as a person in terms of yeah who am I trying to impress maybe if we go into some important meeting those shove on a shirt and brush my hair but for you guys okay just accept you for how you are yeah fair enough okay this week babe sir uh Phoenix wallet splicing U.S inflation um fraction Reserve crypto potentially being banned xrp Ripple uh Ron DeSantis and cbdc's Bank of America and coinbase accounts and that's it and I've got to record the news get lost Mikey some bottom of the page Dave oh Dave he tried to call out about calculation of America says Dave not equal honest bloke trying to get to me we'll get to that God Phoenix oh bitcoin price 30 265 oh this just feels like deja vu every weekend slightly down 200 on last week um but yeah very much hover uh although we did Spike up to nearly 32 000 didn't we off the back of the xrp news wasn't it yeah here um is that when did that happen xlp news that just seems like Thursday Thursday should we just come on to that straight away another where was it on Europe yeah was it oh there's point one point one no no sorry man I don't know how your hair it was point one there like four is this excellent I'm surprised by the ruling uh and I was a little bit if I'm honest in certain ways yes in certain ways now I think the SEC has screwed up so much I've been banging about how we test for ages yeah it's obviously security and then this just goes no stop well no if that's not true no it is a security as sold in layman's term sorry yeah but again it's just no it's the security is installed by because they do it in Ico on Ico it was a security the then they're not a security so again I read this very quickly on Thursday and I was traveling so I didn't really know it fully so someone crapped me if I'm wrong with it yeah um so what you're about to say it has a huge caveat luckily it's only the four of the people that didn't read it it was also yeah I read the snippet the ruling that was a snippet oh yeah that's enough for most of the people isn't it it probably is I did read more of a children the Bloomberg not cover it yeah yep they did what did they say so they've been found guilty that's called just guilty keeping terminology simple guilty for the Ico and offering xrp Ripple have um Ripple the company I've been found and basically that the Ico teams then allows xrp to be a security um so they are going to get done for that so they've been found guilty of that um then there's a couple of other scenarios but there's effectively then saying like the sale of xrp by an exchange they so it does again I can't remember the exact wording but it does say like people are taking treating it as it's not security then if you sell it on an exchange and that's then set certain Preston for all their old coins exchanges however it does say there is some word and that basically says um this is a it neither basically confirm or deny the camera they've not said that it's ambiguity in there yeah this could be another day legal case they said legal fees due to the the Aussie word at night the content the the structure of the court case it wasn't about xrp being sold on an exchange as to whether it was security it was about Ripple selling it it's just not in the scope of the school it wasn't in the scope of so they would need that I think what they're trying to say with that is they would need more information to make a proper judgment on whether xrp being sold on Exchange is a scary as well so they didn't really give an answer to that well because then Ripple got found not guilty for selling it on an exchange the price point like 75 percent but have you seen the graph of all-time high versus works out now it's still yeah it didn't it didn't reach all-time high no it was down here it was a bit more than that no no it didn't it didn't it didn't get all it didn't get up to one time I'm saying you see it live I'm saying it got I'm standing up a third of the way there still got no no 20th no it's not even close maybe I didn't go back far enough into them so the web was there all the time uh 17 no 20 it'll be very start of 2018. it's like January I think I was just looking at [Laughter] it's even worse okay so you're saying it's still got a lot of legs yeah oh yeah there's plenty of room yeah come on um so I think the cork is that they're tectrina a little bit as a win because they got found guilty on was it like three different things but the one they did get found guilty on was that treating it like an Ico basically so icos selling tokens coins all coins Etc as an Ico they are I guess that's such Preston that they are um security is like the same with Howie test um but selling them on an exchange to the public and the retail audience on an open market as such I guess they're trying to again they didn't clarify whether they treated that as uh I I think this is the bit I'm not sure with they've treated Ripple as selling it on an exchange as they'd found him not guilty in some way but they haven't The Exchange selling that token is the exchange still selling a security not what the court case was about so actually if an exchange was to sell the token would the exchange selling the token still be I'm not sure and coinbase have relisted actually as of some others so they're leaving they must think comfortable because they're comfortable that it's not now and this is set right they're just chasing volume they could they are okay just got really straight away massively because they need it Now's the Time yeah so there's conflicts in views I think at the minute of what this really means where everything pumped yeah yeah which it will because it's the high level at high level of saying like Ripple get away with it and they're going to get a bit of a fine but everyone's okay they're saying it's not security but actually it's it is a security during the Ico process afterwards is when it's getting blurred and they've found not guilty in some respect for them particular pieces um but it's still not clear yeah I think part of this after what three or four years of the legal battle yeah it's still like you've waited three years for that BLT I'd be pretty good yeah I don't know I think the Ripple guys will take anything at this point well they are on there jumping on the back of it like it's uh they've just won the Super Bowl yeah um yeah sure interest in um I still don't think it gives too much of a Clarity on too many things I've not seen if like you know the robin hoods and all them that have been de-listing um all the Solana and all these other ones I've not seen any of them turn around and re-list them now off the back of this so I've only seen coinbase realist xrp I think Kraken those who really snacks RP with you or something a couple of others are real estate xrp but they've not turned around and relisted all the other ones they've just delisted due to these call codes I mean they were very quick to relist it we're very quick yeah yeah so they've got in that time they've got their own do you think they've gone and got their own legal opinion said we're all comfortable and realistic yeah well in a matter of hours yeah I think so I think they've been way way yeah but that's my thing of coinbase of real estate xrp but you know and I think Kraken they did Kraken dealers salons a couple of other ones just like why have none of these relisted these other ones these are the tokens that are currently going through the court cases with the binance and the coinbase lawsuits um so it's not even though we're thinking about myself the safest thing to do is just wait for the verdict it is but that's what I'm thinking like at the minute it's probably not quite set in the precedent that it sounds like is from the I'm trying to highlight the headline news was xrp not security that's not what this is saying and then if it wasn't and genuinely wasn't on listening on exchanges then surely the other exchanges would now be listed in every other coins that's you because if Ripple's not security xrp sorry it's not security with a ripple running it sorry guys it's my weekly every part of every part about this time of the ball you could literally come put a compilation together about I'm presuming it's about 10 minutes I don't know as soon as I did it I was like oh yeah some people think oh it's a it's there's some sort of trigger to make Danny stop speaking right Danny move on thanks I was on a ramble about xrp yeah so she sneezed I've not fully read I wasn't just throwing out there people also tell the progress of that painted wall from last week yeah see it as it improves thanks Dave for just love this thing don't you I tried that wall distract from the information just pull to random stuff right Lex from xrp so xrp it's technically not a security in some ways but is a security in other ways uh depending on the scenario um Ico is pretty much screwed for that then um but other coins still up in the air even though this theoretically should set precedent but it hasn't tldr maybe cool is that case over with now if they've got other things pending decisions I think they'll be planning this adult not res full detail of it I assume there's a pending decision on what they get because they've been found guilty of the Ico piece of this repercussions and so there's going to be a human fine in there and something and I don't know what that'll look like could it be huge I wonder if what the cap is on that we make don't know I mean is it was it was it um Ripple or xrp that funded the um Greenpeace the Green Piece yeah it's a huge fan what's this big drawback it's not a win for the industry in that respect that because they are actively funding stuff like that in Bitcoin so you know this is not a good thing um in that respect I think it's I don't know I don't know whether overall the sentiment of a win against the SEC is potentially a good thing from the crypto industry as such but from a Bitcoin perspective you know they've actively funded propaganda against Bitcoin and this is a company that's just one and then he's going to be able to focus on doing more of that theoretically with the lawsuit okay well liked it are they well they buy the xrp funds with the banks so yeah not not sure I think it's a big one that's still up in the air even though we've got some sort of verdict uh Phoenix wallet splicing for lightning slicing splicing yellow me too yeah uh we talked about splicing before I'm sure you'll remember nope um Phoenix um I've basically launched a new beta version of that wrap Phoenix is run by Claire now async is the company eclair is the lightning implementation Phoenix is the mobile app and they're basically Rewritten their app to use something called splicing and lightning um which should help for scalability of self-custodial wallets what is spicing you have yeah what splicings though well Dave uh spicing is basically the act of adding more funds to your channel without having to close it so a big thing at the moment in Phoenix's current Apple old app they have issues where they have to handle um when you receive a payment they're kind of opening channels on the Fly for you and you're getting opened several channels and you're managing like 15 to 20 channels whereas splicing allows you to bring it all into one and you can focus on the liquidity of the one channel and you can splice funds in with on-chain transactions still but it means you have to close and reopen channels and you basically you only need one big channel for your Phoenix wallet so in terms of scalability that's where we brought it all in on one of the old pods about how do you scale lining um and this is one of them so it's cool to see and then bringing it to a consumer-facing app so quickly which they can because they run Phoenix are they the only guys doing at the moment they're the only guys are released the LDK said they're gonna do it they're working and then call line and have a open pull request which is done I think it's just being tested so this is all back end stuff so like if I'm a phoenix wallet holder I wouldn't have noticed the difference uh the way you noticed it with Phoenix is fees so it's a lot cheaper now because you only dealing with one channel though and you're just splicing in funds when you need to so it's actually a lot cheaper to use and performance-wise I assume just having the one channel is a lot more efficient yeah it doesn't have to check through that you got 20 channels you might have to go through 20 different routes to go find a route to where you're sending the page whereas this is just one chance so it's quite a step forward in terms of self-custodial lighting wall absolutely what Phoenix is obviously we see a lot of custodial ones used like well at Satoshi and all that kind of thing but Phoenix is only this is the proper self-estatorial line and what Phoenix has been the best one for years yeah and this one I've used definitely personally for probably two years now um and there's been a choir one in the background but it is the best one by a long shot um another thing big part of that is they do their own um implementation of lightning and then they have that expertise to know what they're doing in the background and yeah three things which is why they've been able to bring splicing in before yes potentially built by the guys that help write the spec for spies right okay I think it just shows the benefits of having that customer face an app straight away whether something like call lightning and l d they don't have mobile apps for people to use it'd be like lightning Labs at least in their own mobile app no custodial mobile app because they're right in the protocol they can then build in protocol around their app effects as well and release it first and move and so they've had this problem and subsequently made efficiency yeah so he's taking these theoretical what we all think of good scaling practices and bringing them in and then actively bringing it out and testing it in the real world I suppose it's pretty cool like that do in terms of I think I've seen on glass node maybe correct me if I'm wrong like the number of channels being opened non-fightening you know because it's constantly growing is a sort of the indication of the network effect will they send reduce some of that do we you need less channels yeah the introduction I'm not sure if you saw recently that data everyone was like worried because I think River Consolidated like 500 channels right so the whole network went down by like 500 channels oh okay and the graph is like that and then just like that but they were just consolidating loads so yeah it might not be a good game TV scaling efficiencies yeah disturbing that as a metric which is not a bad thing he does no no the more channels yeah it changes doesn't it yeah but there is a reason behind it if you wanted to dig deep enough obviously you'd find that reasonable um but that's a good step forwards a great step forwards um more so for non-custodial um for custodial for ourselves it can be beneficial in certain ways but it doesn't make too big of an impact for us um because we have larger channels to deal with most individual transactions so it's not like we have to create a new channel for every transaction or every couple of transactions um and we can just have large channels and just have five channels for example rather than having 50 for remembering um so it's um definitely great for a non-custodial um custodial it's still a benefit and would introduce it as soon as uh we get the opportunity can I use it at the umbrella note at home and I just noticed from an l d so I couldn't uh well yeah no okay you can run call line and if you really wanted to I mean that's that's you could run a Coraline and then you'd run the branch with the open PR so that you'd run it like a Dev branch on Main map is this if you want to go home and do that what is that is there somewhere where I could read on the the how-to guide to do that yeah branches off his trees he said it's on a breath oh how dare you I'm the most techie in here yeah if the room is empty yeah it was no confusing it um so yeah you can't unfortunately at the minute you can't I'll show you right first to do it then all right if I do it before I'm just gonna try and do it yeah exactly yeah you'd have to first of all change everything over because you're bringing it on l d at the minute on your umbrella I mean it's not you're not selling the hard drive uh yeah oh seriously and it's still running yeah I'm not checked at this yeah I might have to sync it up right a few guys I'm going to prove you wrong well you prove it was wrong we'll come back to that in just just marketing the calendar Mikey for about a year away from now and see if he's proved as well yeah just touch up so yeah just back onto Line and I think it's cool that we've heard about splicing for a while now this is actually on Main net being tested in an app I think this year we could have quite a few more things um come up yeah just take time and it's always so slow and steady Building Together has there been any more development on that Arc one was that Arc it was traveling it's a bit all over the place um some people seem to think it's crowded and move with it some people question and announce certain ways right um so there's there's a lot now realize it can't be done without um it's uh yeah there was itch without the fork that's all it could initially but now I've saw a tweet saying oh I was mistaken it can't be done yeah and that's why she had to deal with it maybe yeah Miss Brack saying that yeah he realized yeah he couldn't be done with that um so they need uh what's it called Uh there's like three different ways covenants any preview what's that something else I think it was the other one they were saying is the best way to do it okay like bit 119 or something I said what that's absolutely off the deal I had 139.313. you haven't even read the bips modern city oh I didn't know they talked about this we'll explain this D40 but Summit implementation no something oh look at me I think now let's just not tell him yeah I'm gonna come back come back and hit you over the head with that yeah I think it worrying bit right trim is on tip knowledge uh US inflation hitting three percent lowest since March 2021 that's news to me I didn't I missed this and you guys read this still targeting two percent so it's I think are they changing that Tyler yeah no the pressure on them to change it yeah same with the UK but they're not going to yeah I mean what's up General prices and stuff coming down apparently still feeling it though everyone so it's always that's all about the CPI again so how much do people believe in those inflationary figures and the actuals made up CPI yeah because three percent is quite low considering where it got to and up in the UK still it's still 10 percentage I think was it the other day yeah there are six isn't it oh really I thought it was still just obviously like the UK is slowly coming down but I like to look at like the individual ones like if you look at the inflation for groceries whatever the ones I hit people yeah and track those rather than the CPR but we were still at 19 and then you gave her food inflation yeah so it's like so that's when people are still feeling it yeah yeah but there's specific Foods in that CPI basket isn't it there is but the other ones that could be even worse there's not going to be any bad ones in there shopping get that out yeah didn't we yeah they used to be steak and they've brought that down to beef because it's classified as like the same meat even though actually a steak is more expensive than yeah um so they have manipulated in the way they needed to to bring imagine the guy's job that has to manipulate CPR he decides what goes in and what comes out yeah UK I was curious on the food inflation in the basket so it's a mixture of products commonly bought by people and they're saying how much those products are going on how much those products have gone up in May 2023 7.99 yeah May that was May it might be any local uh the next release on the 19th July that's that's the 21st of June it's two days away so we're still about eight percent eight um if you believe that that sounds very good bye to the housing market at the moment you've seen it in the Alamo I've got nothing it's selling no nothing's good at least well yeah we've been through that with a mortgage interest rates and things and uh yeah housing crash I'm sure in the UK is coming um yeah what a what a gloomy future I mean yeah it is what it is so isn't it that is what it really is what it's looking like and I mean they're not even trying to deny it at the minority it's kind of like let's just try and soften it as much as possible I think is their approach um anyway let's not get to them responsible Financial Innovation act could ban fractional preserve crypto if I don't know if anyone saw this oh yeah but it sounds interesting a tldr because we've spoke about on the Pod before so I'm sure Dave remembers us Dave blank face a very long weekend I'd probably do I need to literally re-look at some stuff right so we're Spock on my mind right now as soon as I tell you what this is you'll remember it so remember we spoke about this a while ago on the pardon because I was saying about um when the FSA came in and inspector doesn't do their audits and things um and we said to them they want feedback after they ordered and they wanted feedback on from us and we said the bit of feedback would give you would be um you should audit our uh balance sheet effects um this was all from the FDA coin Holdings off the back of the afterwards conversation we told them that I told him there's eight over 18 months ago when we gave him this feedback it's probably even before that we've mentioned it a few times but this was like official feedback to them by the way I said wasn't it yeah um and they should just be able to audit us just to check that we are holding the Bitcoin balances of our customers that we say we are holding so that's what this is this act effectively is trying to be pushed through in America um to ban fractional Reserve crypto so they'd have to provide proof basically proof of Reserves which is the whole proof of reserves decide that we're looking at um so it's a it's a positive people are going to see it positive and negative in all sorts of different ways but I think from a customer point of view it's a positive thing because why would they say it negative well it doesn't replicate the capital markets that are currently use a fractional Reserve does it so if you if you're trying to be a Bitcoin Bank you're you're limited into terms of revenue streams or lending or anything you could do like that right because you've got to have it all to have a bank operates now in fractions yeah so there's not a Level Playing Field at that point is it so if you're trying to think Bitcoin be the next Global reserve and everyone's gonna have they carry a lender out if you're a bank so it's not great it changes your business model right and some nice in comparison to a bank so you won't be able to create the equivalent should we call it um so I I think from a customer perspective though I think it is a great uh move forward step forwards um what that proof of Reserve looks like because as we saw from the FTX thing there was all you know people coming out trying to do proof of reserves I think even binance try to do it and people started saying well you know you're telling us about this but who's audited you guys don't worry yeah it's in a database and you can change that database number whatever deserve well um Kraken have a process in place um but again it still requires the number kind of matching up with the database in some respects so with a slightly different commonly manner but um there's still a Reliance on trusting the company I'm still trusting cracking to an extent yeah um so no one's really done it particularly great at the minute as far as I'm aware um I think a big part of that as well though is you know if you're a company and it doesn't really the customers are not some of the customers will be a little bit bothered and you you know you want to do that for reputation point of view but for the effort the cost the resource and everything to go into doing the proof of reserves for to give out publicly for people to then trust that it's a lot of effort and resource and overhead for what's the upside from a business perspective if the customers are going to come and use you anyway even if they say oh don't ever trust yourself you can withdraw your Bitcoin so the easy answer is well if you don't trust us we draw your Bitcoin and self-custody and so that's the easy answer and it's cheaper and quicker and less resource so it's a simple answer to do so until I think it gets forced on next changes you won't see a really I guess a good Innovative clever way to do it um as we know okay uh was it KPMG was it who else the FTX was in KPMG don't want a bad mile for them it was one of the big guys started audio FTX and clearly they were missing 10 billion dollars there somewhere so incredible 226 companies it's very easily 10 million dollars that's very easy to miss armanino so that's the firmative ordered FTX us well I thought it was on the big sort of fold I thought it was the opposite word is it some random one that like no one had ever heard of yeah it was like it shut down that's one yeah whoopsie just shut down programmatis as well okay that was the after trading limited not the U.S branch okay yeah I mean proof of Reserve it's it's a good thing I suppose um yeah and we like being one-on-one don't we encourage everyone just to take stuff off our exchange ideally it's what you want to be doing realistically we know long term they're just the short term it's not going to be realistic long term it might improve but um no thank you I mean I think it'll never be 50 not in our lifetime I don't think um so we have to make us yeah as good as you can be as transparent I guess in these yeah in this capacity as you can um onto the next uh we've got quite a short one this this week it's another Dave one love to listen to Dave Ron DeSantis allows to ban cbdc's if elected as U.S president I saw a lot of cbdc stuff which reminds me this this week I'm going to interpreter this guy I'll just speak over here this pod is like a Revolt it's like after what what episode is this after nightyard episode 96 episodes It's time taking you doing it hard I'm off the part enough balls now just to stand up to it what else has happened finally the also I'll highlight them you can go on to around the center it's just the point of the pen is it's quite good laser pointer he breaks with me more than most uh he's a pointerest you can just laser yeah I won't be good um that'd be great for like when you're upstairs in the open plan yeah point at someone I mean do you remember when they were popular yeah yeah people like use it up for presentation and just see how often do you have to point that presentation if you have a good local conversation you're never there going yeah you're not doing that while you read it yeah you're just talking through it I mean sometimes yeah just with the present so you do Point more than most I do it some funologically to make your point isn't it like I'd like to empathize yeah so we get into emphasizing I do that all the time I'm very handsy when it comes to [Laughter] in the UK are promising now if they get reelected this round they're on about scrapping inheritance tax which is interesting because I don't know how that's obviously from a Bitcoin Specter we do talk about you know leading to bitcoin to Next Generation and stuff like that and scrapping inheritance tax um might be quite beneficial to Bitcoins in the long run if that does happen um so I don't know much more than the headliners probably a lot of these false promises yeah uh UK policies I have not read the detail but I just popped into my head then um maybe want to talk about next week if we have a look at detail and see what's happening I mean we want to pay attention you know accumulation of wealth for the from the people or wealthy so they have knots this huge wealth of added now they want to keep it all of course they do Ball Ground gave this distributed for getting that's how I agree with that side to do but for getting that UK Bitcoin is wanting to leave Bitcoin to the Next Generation yes beneficial there so how will people do that at the moment but I mean putting it in like in terms of you'd have to trust someone with your private key would you there's something coming uh that's what he calls and not answering terms uh time locked might do it yeah we're also called this triplets you can only do that yeah that's a bit more because you're like you can only do this will release x amount of times uh what's he called um watchroom guy that there's a good podcast that he explains it on but this is from like two years ago uh Adam uh he explains that and yeah some of the stuff they were working on uh to do that so what are they working on yeah well it's already possible it's possible if they use it often send a transaction after a certain amount of time so that's possible the moment you can have one keys I can spend now and then another set of keys I can spend after a certain block let go time locking okay but right now it's really hard to like script that up using Bitcoin script so that's why it's stuff like mini scripts coming around too it becomes easier to code this stuff up so they're waiting on Taproot um and there's a few of the bits so that they're tying that in now So eventually you will like what you're saying or what's accent explaining and all yours um as you always just repeating a bit time and like the theory of that will if you're self-custody you could give I could give you access to or I could don't just give access if I know your Bitcoin address for example I could say send my Bitcoin from this address to your address 10 years time or I can move the Bitcoin in the meantime which would then hold the contract especially to send to you because there's nothing to send um so if I were to move it I could otherwise if I die or something happens to me within 10 years the 10-year Point it'll just go team so it can be like inheritance and that's the thing I find interesting obviously it's called time Mark but really it's block clock so it goes on but everything's on blocks yeah so there's no such thing as time assuming it sticks to the 10 minutes on average I think we're calling that time lock or block time lock is yeah it makes more sense but you can see with harvins yeah it is sounds a bit like [ __ ] block as well even back but with halvings you can see a good example of one's like saying there you can't say it's this date for the next half because that actually moves constantly because it's not yeah exactly 10 minutes or consider a world where consensus decides to change that 10 minutes to 20 minutes everyone that's locked in there's for inheritance it's actually just double test yeah or if you theoretically could pay like direct debits through it could it not standing orders that's why you'll need to refer to a sound who's actually an interesting tweet thing is wasn't it uh was it wasn't Cali there's no but it's not that interesting it was you know it was about the uh what if everybody agreed to change their time on their machine which would then I'm not sure oh you have to pull this up mate I'll have to find I'll tell you what I'll find it and we'll talk about next week on the bad place about would that then trick Bitcoins times nodes change the time on that machine yeah which would then confuse there was a particular scenario that confused that's interesting it was a bit like it's a good question not really thought about it before um but I'm sure there's a very simple answer yeah I'm sure the code doesn't look at times yeah but it should be fine the code is it was a genuinely good it was a good like okay let me think about that sort of question um but again I was traveling and that's sorry the half reading it I should really read things properly shouldn't then reading's overrated it's like a chameleon headline and trying to gather as much as you can in a very short time um so uh yeah what were you talking about there cbdc's cdc's Rhonda well it's on the inheritance stop trying to say that word bother me um so Ronda Santos vows to ban time locks I'm the timelock guy so it's going to have a time lock here cbdc's no I mentioned I saw a lot on Twitter I don't know if there's old stuff where they were just talking about programmable money on cbdc's and nothing worries me more they're literally they had the um the World Bank was there and they were just talking about cbdc's and programmable and programmable when Kepler had said and that was that's basically find it so scary I think that's a positive buzzword yeah I'm spewing that as positive some people will because it's one of them it's Pro program or money is good what is it probably is in a positive manner if you're using a negative manner where like China I mean Bitcoin is technically programmable yeah but I just said okay so if you're like uh Child Care payments or anything like that they they could they could put basically within a stipulation within an argument to say whether you should or shouldn't get that money from the government depending on at first it could be anything whether you've had you know whether that's a Cold Case issue or anything like that but then it could be like oh if you almost who you vote for what you want your political religion anything it could be distinguished social credit yeah as long as anywhere they put faces of people that you're not allowed to sell things to and that's yeah on the streets so that's programmable there's already I'm scared there's already an element very scared of it there's already an element of this in like Visa cards Mass cards for example Banks where they're blocking you to be able to uh deposit a gamble inside all that ourselves a crypto company um so the bank is blocking that however you have the freedom flexibility to move Banks and move to another one that will allow that transactions go through just allow you to spend the money where you want to spend the money um if it comes into a cbdc like in say in the UK in the Bank of England control that and program it and then they prevent you from spending at a Bitcoin exchange like ourselves then you can't just move to another cbdc because there's only one so theoretically it starts to lock it down right to everybody in the country so that's where Bitcoin becomes important and at that point yeah like the first these things are always build as useful right to any government or organization but it always corrupts I think it just always turns into the the darker side even if people don't want it to I think they could be very well very big discussion points in the next elections both UK and us that's why I quite like mine in like in a reward from mining because he's just like right so let's no Outside Agency maybe other than mine in pool or whatever you've basically earned that value and like no one knows you've got it is the ultimate libertarian thing I suppose so that appear to be a mechanism well that could still be belong to your ISP could shut that down Jesus Christ is a good way to look at it from a cbdc because the ISP you could say actually what if the government actually controlled all of yeah the isps people refer to it as a Great Wall of China the great firewall of China sorry um that preventing everything from it point of view so if they that's like what they're talking about doing with money in fact yes with the cbdc is that with money um but you you do need to put it into like layman's terms to and put it into something that people are familiar with and can understand as examples to get them get the head around what programmable cbdc actually means yeah um because at the minute they're throwing program on the buzzwords in to in some way make it sound like it's just really remember every time they try and bring national ID cards everyone kicks off because they don't want to be they're not only tractors or as soon as they spin that as a positive and there's a reason why oh you can do this and you don't need to carry a driving license anymore in your pocket and you yeah actually if you have a digital passport you can you don't have to fill in visa forms and stuff anymore when you're traveling through the colorways I've got faithful Humanity there's always going to be operator about this only from these controlling things you saw what we spoke about this last week and the tweets on the back of my tweet about HSBC closing my account what time is it if you said fall if you've got your bingo cards out 4204 42. HSBC being a remind me to bring in just BCL beverages right but they the the look of the uneducated views and the responses I got as you've probably not gone and done that I told you to do last week um you will see how the general public are perceiving what do you call it again it's just lying on the floor his body aches just get him kicked in I think luckily we seem to have some kind of pushback from some politicians no um the UK just seemed to I think it's a big part of it they're just going it's marketing yeah and they go along with these things for marketing sake um which is still scary because they're still they're spinning it in a positive manner and everything else to make it look and sound like they're doing something good um and I think that sometimes the honest answer with these things is they don't understand themselves what they're getting themselves into with this because they don't understand they've got the marketing and pushing this is a random tangent where you say marketing made me remember we've seen the dome in Las Vegas oh I've been talking about this all week yes yeah and mental it costs like two billion to build nuts whereas do one in London by the way oh are they yeah did you see when they did the whole basketball with it yeah it's in the eye no oh my God no idea what it was only two billion on building this Dome billion or million billion right wow no I've seen it and they can project anything on the outside of it so they made it all look like a basketball but it can be realistic yeah it's like TV on the outside oh so it's just uh you're impressed with a really big round projector it's in the middle of Vegas strip the other side of Vegas strip so you've got all the Vegas hotels and that and then this Dome and there's one that's an eye so it's an eyeball and it's blinking at you but it's just like oh it's trippy really there we go but how are they doing that projecting it from the outside and it's the outside of it is a TV basically what the things are screeners that's been projected from the inside to the outside can you see the size of it when you look at the buildings behind it yeah it's nice and it can't spend two billion on there yeah the Pokemon in London right it seems like and it seems like a waste almost the whole point just to look at it they'll sell absolutely advertising yeah but they've got one of the complaints it's a big arena inside and stuff so there's a stadium inside it or something is it a state I don't know what it is like a because it was meant to be someone said about like basketball games and stuff yeah so I think there is an arena it'll be sponsored by crypto company soon marking budget little girl plant yeah I think everyone that is a coin Corner fan or a user of coconut would be disappointed if they saw us to go down that route advertising on that it's completely again I'm waiting for it I'll get hacks and people just put what they want on it yeah that's what I think everyone was talking about yeah Times Square maybe with some of their advertisers yeah I wonder how locked down up my channel is Pretty locked down and I assumes so they must I think that pretty that's probably another physical kill switch I imagine for that sort of stuff in case it does get hit with something um whereas I'm assuming they will with this one yeah this one is like there's probably so many cameras on that already from the next time it would catch everything wouldn't it yeah pretty impressive though it is impressive a lot of money a lot of money to spend oh no don't screen coming to London soon coming to the UK um right should we move on from Rhonda sanus because to even talk to somebody move on from him he's at it just used to be the guy and now I means Kennedy yeah I think he's just like trying to grasp onto anything he can is he realistic candidate I think it was in this one that thinks that we're Clinging On to because he's mentioned Bitcoin a few times into his conference I think he's realistic at the minute like Halsey is a Democrat as well not Republican so what he's against Biden yeah I know he's running against Biden to be their candidate yeah I mean they've got any sandals they screwed him over and um digital pictures there's Sanders together that's a musk underneath like in a blanket and he's a little frail yeah and they picked Biden instead is there not a chart that it goes and what like they have like a relatively young president and it goes older older and then younger right I think a power repeats because they're literally like oh we've had this young guy but it hasn't quite worked out maybe the older collections yeah and then they go oh these are working out we need more youth football time to get to the next one everyone's forgotten yeah people just don't remember it's like a four-year well they realize that actually that doesn't really matter yes you cognitively there or not Bank of America shooting coinbase accounts down people that are buying Bitcoin or crypto from coinbase and using the Bank of America accounts funding Bank of America not the same guys I've just been fine like 250 million pounds for opening people's accounts Lafayette Center they have charging people yeah they're just opening accounts opening credit cards just find out you got a credit card account monthly for it without the approval of course I mean people might be using coins you can't close a lot of accounts I've got to open a lot okay numbers there's a kpi and just be showing it is an interesting should we start doing this yeah yeah it's a crazy business model if you've got a kpi that's relying on it and you've got investors to you know look we're opening loads of accounts it's just a for it's fraudulent what is but there'll be pressures internally for them to do it 250 million dollars they've got sales people in Brands saying like we need you've got to open x amount of accounts Netflix documentary about Bank doing this Wells Fargo Wells Fargo yeah better give me like loads of people like three or four accounts oh wild times so I think about the end of next week we'll have 50 million customers and yeah and the set on the other hand they're saying the closing coinbase accounts because the crypto is fraudulent because yeah I mean I don't even know what I'm saying influence in the world in a nutshell isn't it it's all depressing everything is absolutely it's the corporate world we live in yeah which we're trying to fight against you know we're not necessarily coinbase fans but at the same time yeah yeah it's just ridiculous yeah um so yeah there's not much more saying that it seems like there was uh well there is actually there's a poll that Dave heavily disagreed with no before we started this you were placed in lots of Reliance on the Twitter poll saying these 16 000 people out there count as close I said no was these 14 000 people have just clicked on the Twitter poll I didn't know about the poll and the results until Nike Polo I was talking about the original tweet and then you may have heard the saying in Bitcoin dummy no trust yeah don't trust don't trust [Laughter] times like I think that's the first time in five years the hell Steve there's a Bloomberg articles uh citing the poll oh no that's all you subscribe that can't work why have they done nothing yeah I hope they're mocking a poll and saying that you you've got to verify that I trust Bloomberg verifying come on better then come on you didn't verify that tool it's just a Twitter poll you care about stuff on The Daily Mail don't you know why was there a football who to put the toilet bowl out there uh great I'll try and put the Twitter Paul Allen I'm saying it's a loads of people getting their accounts closed uh we should do the same he put Apollo ask him and sorry you're saying these stats Mikey eight percent it was eight point nine percent yeah someone someone had tweeted saying that Clint there claymates can't got closed and then Brian Allison replied sayings this happened to anyone else with the Bank of America account and then 8.9 of 16 000 people ish was it said yes so one and a half thousand people basically saying their accounts have just been closed due to some buying from Bank of America their Bank America account due to buying from coinbase right so it's it's significant you know don't give me wrong I agree anyone can click a Twitter claim yeah whatever so yeah but yeah people internet people no you click it to see the results yeah I don't think Brian would have put a c results there you go and so yeah that's interesting so there's a big potentially big portion of people there that have in a very short time I think as well having accounts closed at one individual bank which actually follow me off I know they've just been fine because other ways to do it why close the bank account like they could stop the deposit I don't know that's Bank of America yeah it's a lot of customers to close in a short period of time I think as well yeah it's just an unusual pattern of behaviors if you're a bank and we said there's pressures on them to keep accounts open and they're fraudulently opening accounts and then you're going to close accounts just because they've deposited a coin bit and then when you can just actually stop the deposit and then on the other hand did they not doesn't make much sense did they not also say Bitcoins go into like a hundred thousand dollars by the end of the year or something I'm opening the accounts and it's going to 100 again the other guys 100K guys I'm saying how are we going to get 200k if you closing these accounts yeah and I think there's a conservation problem it's gone uh I'm sure they predict us about I don't think they would have done that they were cut that's a good tweet material right there it's a lack of communication between the big Corporation are you going to get lack of communication I mean for that extreme yeah oh yeah Bitcoin prices here I'm sure it was that madly typing they were very bullish on bitcoin recently so they caught up with a standard Charter One yeah it was a Bank of America did you see the one that Standard Chartered one and then the year before that they standard chart said it was going to go below 30. yeah I saw that there we go but make up in mind 13th of April strategists at Bank of America predicted bitcoin's remarkable rise which took it from around 17 000 to one second that's a little slow that's all but the three months ago I still production only three months ago they were saying they were talking about Bitcoin in a positive manner and then the game fined 250 million for opening credit cards and then the closing the concert going this yeah I mean I don't know if I was a shareholder in them I'd be like oh I might actually sell leashes in terms of Bank of America it doesn't give you much confidence but they are they're the second biggest bank in America second or third they've got to be pretty big if they're called Bank of America Bank of America 2.41 okay The Big C group of next at 1.71 but they have no idea what's all over the place yeah they're just the the price production they made was that uh well all I can see here is that the the price rise I took it from 17K to 30k may not be over yet that's what they said so they're basically they're saying it's a bullish Market essentially but we're closing New York every year and if you if you try to buy it we'll close your account yeah uh and then I have a free another account there'll be a lot more around it I don't know okay was that the last time in the agenda Dave you got blue tick how did I have a blue suit last week did you oh I tried to get a Blue Tick this weekend you try to get you absolutely sell out and then you just go and earnings exactly have all the fun the problem is I didn't get a Blue Tick no well the problem is because we're on the Isle of Man we don't have the option to have Twitter blue so I think you say how did you set Yours up VPN no [Laughter] and the Secret Santa game of walking stick I mean you have the left left yeah with new tech she does yeah that's true yeah I went to the UK for the weekend and while I was over there the blue appeared as an option I tried to get it but the problem is I've got the queen Corner account on my phone coming from paying for that no I can't you can't I feel more important so I had to turn that down until after two accounts not ridiculous not from when you're paying Apple pay on you yeah they're listening on the line no I said on the web perfect so yeah I still without a Bluetooth but I'm trying to get one but I just can't get one I think you're the only guy to not see an impact for everyone tips and you're paying not to see it yeah your content as well I liked that one the other day shouting in an empty roommate all right all this even I'm not seeing you all tomorrow my content is better than everyone's on its original and yeah no one ever use it so I'm just like oh yeah so that's why I got blue trick originally and now it's just got worse and there's loads more Bots there is a lot more parts should we move on to your mining data sorry snipe mining update if you're not going to be my new weekly feature and if you want to put some graphics in now Mikey that'd be great Mikey's worked out your data was incorrect no no no no no no no the account on cars do match no no I'll tell you where else I'll do that late at night I thought I'd need something to put this through get this data together and I might have just not included some blocks in in something but anyway regardless so I kind of that day I haven't got it in front of me I'll read out cost all out yeah my no I haven't snipe mining so there's intermittent mining I think it might be the future especially when mining under Renewables people can't mind all the time so I intimate in mine so my pool over the week you don't look as born so that's it for your xrp right so my pool control [Laughter] right so Michael mine's 17 blocks and this isn't even a kpr that's important for mining by the way but it's it's just the success of whether intermittent mining so I was like okay 17 blocks over over seven days 168 hours so they've mined about 0.1 block an hour so if you think about pH yeah nice which is a well-known yeah it's not gonna be offline one DPN it could be so I was like right okay if I beat that then I have intimately my little snipe sections of mining you know I don't know if it is what any point in me beating it but anyway I thought it's a butt to try and be awesome man it's got a Target now yeah it's still my Roi it's terrible because I'm not mining so I'm on for 15 hours was involved in the um finding of two blocks which might makes my uh what did you call it BP BPH BPH 0.13 so I beat it so you're 0.03 more efficient but you still get the last Bitcoin Martha yeah I wasn't involved in this I only got two yeah not mine in um on Renewables for the same for all the time currently with my array so I have to do it in a minute so if I was a journalist I'd say that day and my headline would be home minor more efficient than large mining pool yeah that I mean that's basically what I want people to take away I've looked at the data renewable energy soon to cool it can only get better hopefully I'll be a mine more hours and see if I can still beat the beat the pool but this week I beat the pool and then that's why you outro the graphics fireworks and obviously it's absolutely useless yeah Roi is still terrible finally Dave wins but still wins it was like tldr okay that was the name of the episode it's been a horrible episode for me are we nearly over for us yeah we can't go on the news do we have anything recruits lots of new stars got people starting next week yeah different days hey yeah as well right and what planet would you not start on Monday Wednesdays yeah we are busy okay everyone knows Monday's a busy day did you know Monday's a busy day Mikey it's our busiest day yeah for sure yeah okay not for so long not paying attention so managed to paint that wall done guys we're finished off yeah I've not done the other one yet it does look though as well you can see it with the green the we've not painted that green at the top there it's not just tapers yeah and you're working on the podcast Studio Mikey no oh wow how long how long will it go in the actual Studio yet but I've been looking for things to put in there no I mean soon you want to share that with any of us yeah why don't you let the why don't you let the audience decide what we actually because it will look terrible we just do it get it out there it's just the people we are the people's exchange this is the people's I know it's bad you've never seen what we did with the team trying to get them to rub their input to the office and that was even in here there's too many chefs in the too much input okay which we did most of it well we'll give the audience a sneak preview but no input all right okay yeah all right sorry spiced and bakes exclusive listening to the party get a little take a photo of it now we'll show some good stuff next I think that's where you can couple of weeks come in we'll just have some uh good conversation who's just been settling in and hiring it's also a beer for Bitcoin oh Carlton Town FC no yeah they're now accept Bitcoin football club yep or food uh Carl that was Carlton Town Jesus I honestly but as soon as I said it I thought someone's just going to say words casting Carl in UK now which county is calling in then Oh north but it's not the same girl but go in there Derbyshire Nottingham yeah you had to go close enough yeah cool yes they're accepting Bitcoin which is pretty cool love to see it yep cool oh my God yeah this is this is yeah Monday's not busy apparently yeah this is what we're now in the audience gets and the customers get to see what we have to put where they fight I don't know it's five o'clock it was about two yeah why you didn't do it all day I don't know but I spent too much time in here this room with you tell me about it and uh living here for just your voice that's a great nickname he's on his way the old drip okay Molly's beating me Molly's beating me today the Molly's being me but today she's one yeah stronger and harder though that's it thank you guys sorry guys foreign