Tesla Sells NO Bitcoin in Q2 2023 | Britcoiners by CoinCorner #97

Transcript

[Music] welcome back another week another episode price of course was kick off with BlackRock and new board member in the creaky's chair they're like I'm on a pirate ship let's always scheduled going through the Seas I saw these get through the agenda Finance uh going back on employee benefits and laying off staff uh inflows of crypto Investments uh Rising I bought Bitcoin carrying it uh block sues Visa Mastercard over exchange fees uh more Bitcoin ETF talk uh Nigerian shredding cash or Banks shredding cash which we'll come on to El Salvador and the bonds up uh Tesla not solving Bitcoin NASDAQ pausing their custody service or trying to the pause in the launch of the custody service UK Banks risk losing the licenses over recent political views Bitcoin no longer an asset of choice for criminals uh someone spamming the men pool and Elon Musk with Twitter turning 2X and also some going on price before you get anywhere Dave oh literally got a meeting in an hour's time in on Saturday 29 you've actually got me in 40 minutes time 29 731 is that uh last week all right okay I don't know how recently give or take um try it down no idea why no reason to be I've done it all the time no it wasn't me lots of mixed market sentiment at the moment I can't really call it here are a lot of bullish news here love bearish news I think the overall is bullish sentiment for Bitcoin yeah not necessarily markets um but they correlate but the same thing they've gone through a period of correlating but they're not correlated they haven't been through this before is it not like 0.8 over a short period of time but over the long period it's not correlated okay oh no that was it yeah we did after this argument and then if you pick your very specific time scale if you actually look at a usable time scale hours right well I don't say over your little date range why don't we say all the time why don't we say all time and that's exactly right 2009 when Bitcoin was created came into circulation to now all right let's go again round two with the correlation debate nobody knows correlation correlate over to the market which Market over show period it does but that was during while it was in our S P 500 does it correlate to the Bitcoin price and from covid times we'll get on that as soon as this is finished Mike you can Flash up a little charge Here We Go Again jeez right so we actually got the you know the first point of the agenda Black Rock uh they've appointed aramco's CEO I'm in AIM Amin Amin Amin NASA to its board so why is that significant uh because aramco were one of the biggest um pollution and the massive oil company they made the most profit in one quarter than any other company last year didn't they uh I hit the news yeah yeah we didn't talk about didn't we yeah yeah that rings a bell um this is kind of what was this not off the back of what we were talking about last week about um all the ESG yeah I took that pen one more time honestly click it why are you so aggro today there's a combination I had about three hours sleep last night it was like kick off early we'll put her in the bed I had a bad weekend in terms of it was raining so I couldn't get out with the kids you get afraid and that's where I'm at so it's our interests what did cheer me up was Molly's story this morning oh boy I'm gonna shout out to your face are so happy when I read that I don't think you're gonna bring it upstairs bring it up now poor little Molly locked out the building on her own without a phone in the cold early in the morning hours before anyone else I know somehow had to get in contact with someone yeah speaking of strangers just all about all the stories imagine you sat on the wall outside the building shivering and I just genuinely yeah that was pretty much it yeah it wasn't early but it's going to take the milk back out the dog blew shut behind me sure they should always be shot in the door I shouldn't be leaving at the jar there should be no blow shot you should just be happy with all you should but just clothes she's like a normal door just a normal door and then my key is my phone everything wasn't you turn right on I was like I went and turn around went Ash I haven't even got my phone yeah and I had to go for a little walk this was 10 to 7 in the morning go for a little walk stand again did you get in early I know I was coming to get the gym um got it no wait for a little walk found a guy asked this random guy if I could borrow his phone and explained that I was locked out and she just looked a bit confused you know someone's number off by heart do you want we were saying that was pretty good no so I was actually on my own I was listening to a podcast at the weekend which was saying basically yeah nobody else knows his either yeah you never get to tell anyone but always tries to know another one so um no it actually listened to a podcast at the weekend not saying it yeah like the fact that back in the day it was to do with they were talking about dementia and stuff and back in the day people used to be able to like remember phone numbers and stuff but where technology has made things more comfortable because you don't have to you don't have to remember phone numbers although I remember phone numbers from my childhood oh yeah my dad's people used to write 10 years ago it's not like people used to memorize 20 numbers they're just you used to be able to underneath memorize five like I can memorize one another one no you file a fax [Laughter] people you sort of just write them down and carry that with them yeah to be honest I did guess the last number but you you knew about your husband's number they're enough yeah and then I was like okay she's nearly got the right ones it must be the scale yeah yeah um so I called him and I was just like hey I'm locked out and then I live around unfortunately around the corner from Danny um so I just said when you go to work can you knock on Danny's Door and tell him to come in early what was your initial reaction I'm going a bit late well yeah the doorbell went off early I mean I was all about it wrong it was fine but he's calling around himself um so then yeah yeah just answered but there was not one track I was just getting ready to get sorted so basically nobody came to see me no one turned up at his normal time because about 45 50 minutes later while I was just sat outside condition on on the Rock shivering I didn't see it I'm a farming spot ready to open the office sorry hopping along blowing up talking about Molly's uh getting lots out of the office I said I didn't want any literally said in that chart that I did not want anyone to know foreign so the reason that was significant was because uh a lot of big corporations now have done the whole pivot which we spoke about of ESG um and saying actually it's not helped the environment whatsoever and now Studies have come out uh so I think BlackRock kind of went along with us as well from what I remember and then a week after announced that this guy was coming on the board for BlackRock and he's the CEO of a I was saying it around aramco using anything so because he's been a CEO of an oil no he still is the CEO oh he's just an adviser of a ramco he's now on board for Black Rock right which is okay that's not great is it some some conflicts you can say that maybe yeah it's interesting an oil company that made so much profit this year the average salary is now through over three hundred thousand dollars it's it's an oil tray that's mad it could be these guys but it's the point of that black rock of just the agenda's changed the sentiment's changed that's one appointment they could be appointing loads of renewable people as well you've not seen a full list of their advice I haven't you've seen this one all of a sudden ESG agendas all of a sudden become it's not really that important now guys no you just can't accept technology you can't just ignore the oil industry as well it's obviously huge Revenue you make you want advisors on from both sides you know if you've just pick one appointment and thought black rocker pivot it's totally come a few minutes next week let's get uh a list of them let's see all their prices don't trust let's verify so we'll get they've got thousand advisors Chad Michaels he's on the board okay on advisor right so let's get all our board members okay did they say did they give a statement why he was coming on or anything I haven't anyone read that I don't know I'm sure they did that'll be interesting um but it's interesting that like why have they own just put them on just after the SGS the point I'm thinking it says Regional expertise that reflects the importance of the Middle East the firms long-term strategy that's why they're born so he talks about the ESG in the article actually um but it's just the highlight and why it relates to bitcoin I'm talking about you know BlackRock all of a sudden have said they're doing a Bitcoin ETF and the sentiment then changes from Big corporations into Bitcoin um which is what we've just seen in my head with that ESG sentiments change and all of a sudden oil guys come on come on our board come and play ball with us um so it's just gonna be interesting to watch child sentiment changes it already has something it's a sentiment you know they just stop oil people that I'm protesting the road like everyone behind them is just getting really annoyed and they're slowly blocking they've got people's traffic and they're just getting moved out of the way you see the woman the other day that was set like a baby at the hospital they're in the way yeah she gets out shouting at them what do they say with this I don't need it's just it's just how you can be disruptive without being disruptive you know what I mean you gotta have consideration for things like that but then disrupt Parliament not the right yeah not Republic people because the government don't barely care I've seen people as in fact like the chocolate water on them and stuff or is this but they're in the way the public and not the Public's fault yeah test group that protested the stop oil yeah and they surrounded them I sort of stopped them moving yeah class I mean I like a good process but it's it's a sort of annoy the right people yeah you're annoying like you need you need everyone on side it's been a bit divisive isn't it you're causing problems for the people which then turns into like you know I've seen a couple of them where they're nearly fighting with them one that was fine with them and it's like you're creating problems yeah and it's it just shouldn't be like this disrupting popular sporting events that's also annoying a lot of people isn't it well they start all the time [Laughter] first Glory game and the streaky got all the way across the start and they were like like he got across again I didn't know what to do and he just ran out the stand so he like made it somebody didn't get it yeah you know the most most of them they just get tackled and dragged off but this guy literally just could they didn't have enough security to get the guy and so we went back and start just ran off that was a cool story Finance uh next agenda so binance of callback and employee benefits citing a decline in profit um alongside that as well they've reportedly been laying off over a thousand staff um and offering um uh what's it called redundances for people as well I think there's a couple of different variations that have come out now about things um it's a good good question mark you'll get them up knife as a list I'm not sure you show us the other list what benefits did they offer just go to x.com yeah they be branded aren't they yeah yeah today's the day um but the point of that I think is just obviously one thing uh sees ads a lot of people are now firing back at CZ with this stuff here because I know he tweeted it was about nine months ago or something saying if anyone starts if anyone's laying off stuff and doing all these things then you should be asking questions about the health of the company and all this and then he's now dude yeah he did yeah beware of platforms that one offer high apis and or to have layoffs and in a single week they've just offered 20 back on one of those stable coins um as interest apy and doing over a thousand Lane when did he tweet that he's not not gone down well uh 30th of November 22. yeah only six months ago nine months ago was it oh yeah wow meet in the middle yeah I can't think like redundancies and restructured bonus plans and bits of Pizza Hut is just a normal course of business I know that so it's like throwing stones live in The Glass House it needs the content that was using it yeah it was months ago months ago all about content yeah um but yeah he's you know I don't don't know what the definition of decline in profit is because we've never really seen what their profit is because it's a private company and they'll just tell us what we want to hear I guess or what they think people want to hear um they're mainly remote Army as well they don't have any actual offices anywhere no no um see I'm not sure what the employee benefits are and whatnot but yeah a lot of them a lot be laid off um obviously didn't cut back because they pulled up a lot of countries recently um France Netherlands uh UK kind of anyway a couple of others um did we talk about our new hires now or do we talk about if we save it till the end I mean you can we're not quite in the same ballpark because there's a thousand levels you know we're still hiring yeah it sounds like they're just getting the house in order they have to um well it's such a bad thing there's two angles they're getting the house in order or some other FTX waiting to happen I think is what people are speculating there I'm not I'm just saying that's what people are saying but does any what's that tell me let me give my opinion employee account like as a percentage how much is it I think they're about four just over four four to five thousand I think it was the last two okay six I think that's six thousand about 18 months ago where it was and then they'd already laid off so it's quite a significant amount which is a thousand so yeah oh yeah I mean we could do without any more but as much as we aren't aligned with binance we could do without any more FTX scale bad news yeah so I just want them to be run properly not too scammy and let's all just grow the space not you know scare mongery and thinking that they're all going to get a pop yeah it's difficult one for us though is like coming from just a Bitcoin angle you've got that they've their crypto they're doing all sorts they're doing nfts they're doing website I mean they've just launched the nft with Ronaldo obviously doing um you get a training session with Ronaldo if you buy one of his nfts um there's some people that will win they'll buy him Ronaldo take one look at me again good enough mate yeah so now I can improve that because um that's weird you said he said that's weird one I think about it um but yeah they you know they're doing all sorts of things in crypto so they're doing all sorts of nfts and web threes and metaverse and everything in between and they've done all the tokens and the old coins and they've caused I guess the regulatory backlash that we're now witnessing and we're having to Bear the brunt of um so if this was so in one way it's kind of like yes like you say you don't want the bad news for the industry of them going pop like FTX and everything but at the same time they've in my eyes a lot of the time they've ended up creating a lot of bad publicity sides of the crypto world that don't it for themselves really haven't they yeah the whole uh I got the book I'm reading at the minute have you gone say it no I was waiting for the physical I've read it so everybody else doesn't have to um McKenzie's easy money um I think I'm about half an hour left of it where it is but it's just the whole thing is really it's a pretty shitty book I'm not gonna lie it's not the best Birthday written no he's probably he's probably well written he's a Hollywood guy and got a journalist to help him out and stuff so it's been written fairly well in the respect of Storytelling um and he reads out when you're listening to it as well so it's kind of like him doing it in his Dramatics and stuff and but that's what they've gone they've done like a journalistic approach of a Hollywood eyes try and make everything dramatic and try and make everything crazy and big but all it is is literally just him reporting on his journey for the last two years and it's just like him going and doing interviews with people well really it's just with SPF really though he does the interviews with um and then a couple of other people that you don't really know uh and then that whole thing is like him just now reporting on the news so it's just like the last year's worth of news of the collapses of Celsius and the collapses of FTX and uh Heather and stuff but it's it's basic information that you can just it's literally what already been in the news so if you're paying attention to the industry news you've already readied a book basically it doesn't tell you anything that you don't already know so I wonder what was in his interview with Sam was pretty old FTX bus stop was it it was preamp post oh okay he actually well he did the interview pre and he says like you know he sat down with him and went to visit him uh went through all these questions he kind of had for him and some he talks through it literally reads out his interview with Sam and he's just saying all the way through about like you know he was weird and he's nervous and all the time stuff like but that's what he liked anyway as a person and actually in the background if he was already thinking he was already 10 billion dollars in in the hole if he knew he was you would be a bit Twitchy wouldn't you would be Twitchy given an interview to some random what was the premise of the book free FTX crypto is bad basically is what is gonna and he he explains in the book he lost basically like two hundred thousand dollars short in crypto so he tried to short Bitcoin or crypto on which one it was lost 200 000 and then thought this is a [ __ ] industry I'm gonna go in bad mouth and Shout for my platform so he went to write a book on it so he turned from some soaring going on the background I'm through with that against Cole out that's a test for the edges yeah um he went off basically and went and said right and during after kovid to Hollywood had come to a grand in halt so that's when he got involved in crypto it's like playing around started showing the market uh lost a lot of money thought right I want to write a book about this now and then he met with Jacob Silverman who's like a journalist who's already been bad mad in the industry for a year or two pre that um went for coffee with him this is this is in the book there's about me about four hours in and he's just having a coffee with Jacob so it's like it's like this is like his life story almost um it touches on that so many times oh yeah yeah and I was in the OC he says about it every time he meets somebody myself says Germany he always says imagine to how it's in the OC they've done it probably massive had it I was a big fan of him oh and it's a bit of a shame him and Misha Barton oh no I hated her of course it's a real premise if you're short at the market and then lost money shorting and then you're basically writing a book saying why you were right to show them um but the whole thing is just basically him trying to Batman tell everybody that's just a scam and it's a Ponzi and everything and that's his this was like his platform his approach to going and doing it um all the way through he doesn't it's fine like the crypto thing and we'll say there with binance you know a lot of it is he's right is there's a lot of scams in the industry with crypto there's a lot of pump and dump coins and everything that he's saying is right he's very fluffy what he's saying he doesn't really go into detail of something some of it he does but not anything's not already been printed in the news um but with Bitcoin you still couldn't really he just keeps saying Bitcoins are Ponzi it's like you don't really get anything sensible of him it's Bitcoins are Ponzi Bitcoin um can't scale because it only does seven transactions a second and Bitcoin killed people in Texas because it uses a lot of energy they were like his three points I know I'm not I'm kidding okay how do they kill people there was a uh the electricity usage you know about taxes done them the mine is actually Switched Off for a period I'm wanting to match that up and see if it was that same period they actually Switched Off for to see actually if he's completely wrong with her um but there was when they have electricity shortage the air con they lose all this sort of stuff there was like they say 47 deaths or something due to the electric grid because it couldn't cope with a man was on it uh well at the time I don't know this is what they need to figure out but he's saying yes he did um mining then these people would have lived and stuff and it's like but that's like saying if you didn't have your fridge turned on yeah it's over that same the fridges were in Texas were probably using more electricity than Bitcoin miners so you know and computer consoles we're using probably more electricity than mine is in Texas so it's a bit of a silly argument really but it's the way the way he says that as well it's like you're talking about people's lives there and saying trying to blame Bitcoin mining on people's lives it's a bit too much for me that yeah it doesn't it just sounds uneducated doesn't it because they're all part of that pack to a little [ __ ] off if the grid requires more I assume they were back then but yeah that's why I'm interested to see if actually they shut off yeah it's nothing to do with them and that would just be just disability yeah his research is terrible like he calls us coiners I don't know where he's got that term from all nights rather than Bitcoin there's his coins um you've been said a word counter stick a letter can't stick to he's over here he's also one of them that has hoddle as hold on for dear life which is not what it's meant to be um he's not he's like he's dipped into the industry but not quite got things right and there's so hold on what is huddle it was just a drunk guy I know that but it wasn't it never got turned in I've heard that when that's what people always think it is but it's not yeah no okay it's the original guy um but yeah it was it was a pretty considerably spent two years writing this book and interviewing people in English it's quite an unedure target audience for the book his fans our industry I have no idea I think it won't be our industry no I'm like saying because it's got the outsider injury because he's trying to reach them so he's trying to educate people to not come and touch crypto um but I don't imagine anybody that's not interested in crypto is going to pick up I just ultimately gonna care so I'm not quite sure I think this is sales will come from industry I mean you bought it yeah I bought it to try and understand you know you know your enemy was what like you said the other day Dave and you've got to do these things he goes declare him as his enemy now oh yeah about 18 months ago he was responding to a few things and then he's got to a point now where anyone gives him something like tell him about a lightning Network or anything like that he just ignores everything and he'll only respond to the ones that are a part like agree with his agenda if you're gonna look it's literally got you right there it says he's living there he won't you're right he's not done his research industry yeah and he's just he's just a bad cheers for the money Danny another soccer review of the book no um it and just highlight a few things from it I should have made notices yeah I'll just have to get off memory now um do you ever read book and make notes in the margins Bill Gates is famous for doing that I would have thought about the book because I have a pen on me when I'm reading it would be so I used to I love having a notepad and I know things down and I know things down in my foot does it as well yeah if I wake up in the night and I've had a dream about something that's a good idea about then I literally noted now it's usually in my dreams uh there's one of those Balance perks so I found them here so they stopped offering a Wall Street Journal reported that they stopped offering reimbursement to employees for certain expenses including the use of mobile phones Fitness and working from home you saw a reimbursement for working from hell yeah because there's sometimes costs involved with the home because there's like internet and doesn't see you it might as well be a finance against their tax bill rather than but they are still offering things like company sponsored holidays and free language classes um relocation School Seasons [Music] I'm guessing a lot of that company spotted holiday yeah I would think so pretty language class cool yeah because that's all fluff in it really because when you think about it it's like health insurance but what if you live in the UK then you've got NHS so they'll just say oh yeah they must have physical locations they've got our offices somewhere yeah no none not on the left they used to have one in Hong Kong and they've got like a register one in Dubai haircut now they're moving there but they don't have as far as malware in office physical office there still you want they'll have an office registered but it's like I mean I've seen the one in the UK it was a little Warehouse wasn't it that surely Caesars are working from somewhere that's not his home it doesn't really it's matching him in his PJs tweeting that I assume they're just NPC layoffs he's wearing his PJs because he must live in hotels most of the stuff you gotta think okay but there you go there it is I don't know this size 53 office locations but by that because Georgetown Cayman Islands is it so that'll be yeah that's a HQ apparently yeah let us know if you work for binance in a physical office yeah I'd be intrigued right kill should removal right come on because Dave's got 15. oh we'll skip that one man still in the first section of it you guys want to talk about Visa Mastercard getting sued over interchange fees soon then block block hmm I'm gonna assuming them for conspiring to inflate into gen interchange Foods so it's an Anti-Trust case meaning that those two are in cahoots about how much they're charging for interchangements did anyone believe they weren't in Goods about this it's mad that people think that they're not include yeah yeah and also there's the same time there's a UK class action lawsuit for the same thing there's that with no no interesting and they're saying it's very easy to hide them into into charge fee because they're extremely complex to calculate and I've seen from stuff that we've done about into charge interchange trees and they are they're not transparent at all it's really it's like where their exes come from and there's people are just putting it down and and it's it looks like it's just visual MasterCard going yeah we'll have a bit of that margin in which case yeah block of God point I mean if they did it themselves because it's not an issue because it's just their price at the end of the day isn't it yeah isn't that they're called that's a governmental charge so that's for like intercom into country fees yeah so it should it should just be an effect rate it should just be a blank fee you know separate to what these are MasterCard to charge each other their own fear so they're putting a bit of margin on top of it so what does that right yeah so that's all it is right but it's just highlights so it'll be interesting to watch how they get and go about that court case you mean and we're trying to throw billions out I'm sure they won't care yeah definitely we'll probably drag out for a few years you imagine it's interesting blocks doing in there that's yeah interesting big so big part of their business as well yeah they talk about I think do they talk in the article about how they've hit like another pricing team now because they're in a certain amount of locations so yeah so the moment about that so it's good for Jack then naturally to pushing this and doing it that's very very good for everyone yeah I wonder if he's doing that for more from a Bitcoin side as well it'd just be great to like anything that's exorbitantly complicated in fee structures like that they all there are high they they shouldn't be like yeah there's no reason there's no reason if you can't just work it out and go all right that's clear enough to me imagine getting an invoice from A supplier and just being like no idea well you charging me for that and just having to pay it being forced to pay it you'd be kicking off it's the same thing it's just like you do that a lot of people do that a lot though a lot of companies do that and it is confusing yeah yeah that's yeah from first-hand experience that's an extremely difficult to work out what you're being charged for on any of those fees and they're hiding behind it and lightning will kill them eventually it's the dream yeah no yeah yeah HSBC first and then yeah no no well about Ben yeah priorities Ben's insignificant comparisons yeah it holds a place in my heart yeah you can call him insignificant that was about 15 months ago was that right um about 12 months ago this one was traveling and once are you a bitter about not being in the book I just have to assume that they've gone and done it sounds like they've gone and interviewed lots of different people but it sounds like they haven't included a lot of that in the book because there's not that much there's SBF and Alex machenski are the only two they really talk so I think that were known people in this industry that he actually interviewed right everyone else it doesn't sound sort of drama isn't it that's what they're probably what aspect is yeah so I wonder if his Ambitions is he wants us into a film or something eventually yeah so Michael Lewis is already writing a book about isn't it that'll be a film for yeah and make sure that yeah baby slags off him in the book in the book actually uh the guy who wrote The Big Show does what bundles off one of my favorite authors he's slacking him off saying that why was he a positive he wrote something about being positive to the industry crypto industry saying he thinks it's the future of finance and he was like I can't believe that someone like that has not been able to see through um crypto right he's made my enemy list now we'll slide enough my favorite team he's coming join me yeah yeah I think the annoying thing with him is he he has the right intentions in well in some respects forgetting that you lost money in his bitter um I think the the intention of trying to help people not get scammed by this is a good intention um well I think that he's still not till that time he's took two years researching it and still hasn't figured out what Bitcoin is yeah in the game and you've actively lost it's impossible to be biased change that Minds that is difficult and I think that's why he's stuck still he's not been able to change his mindset because he's a bit about it Bang there's not an affiliate link to that book YouTube channel um I would not want to make money off the back of that book thank you you want to learn more about what these guys are talking about so anyway you've got seven minutes Dave no push it back ETF uh they've been acknowledged have you know the ETFs from the SEC um which is potentially lining up to be approved I don't know should I just part of the process yeah every time something like this happens it makes it how did that make that list yeah they've been acknowledged well I didn't make a headline like the headline more so this was just to update that's yeah and it's still moving forward because we're touching on ETFs every week at the moment because it's what people are talking about it's interesting it's a very basic step one we now acknowledge Your Existence yes thank you it's a stepping stone I think I think being part of that process because they're not act they'd already rejected effectively the ones when they didn't put the coinbases cost to be thinking so those ones not even get that far no all of these already got no they were still it's the same ones so when they applied they've been kicked back so now it's been acknowledged so I assume it's password actually bigger news than I thought then yeah I don't know what those stages are and what the definitions are there but it's got past the I mean if it's not college is one of the stages there's going to be about a thousand stages yeah yeah oh yeah yeah it was December isn't it it was going to be the timeline so yeah expect some delays in that as well uh Nigerian Banks shredding cash as part of the cbdc rollout I think this was fake loads of cash in dumpsters essentially and the Tweet saying it's part of the cbdc rollout but they cbdc's been live for every year the enar where did you get your news from Molly it was from there was a video on Twitter yeah so Twitter yeah the cbdc has been live but I did because I was trying to find the source of this but I did stumble across they have made changes to banking regulation in Nigeria where the cash what do you think the cash Reserve requirement is for a business bank in Nigeria percentage-wise how much cash they need to hold for depositors from fractional reserves yeah 30 or 40. I reckon there's something I don't know where we have and so they've changed it it was 32.5 they brought it down to 10 I was gonna say it's still high to allow more business financing to kind of kick start the economy a little bit more loan out my money yeah the US was a zero percent weren't they recently and then the UK is it four or two percent in the UK can't remember August I think so that was interesting 32 is quite High then that's that's 32.5 but 2.5 you know I want to figure out how they got to that figure initially and I'll bring it down to around there and shall we point five see I thought that was interesting but yeah the enormous been out for a year apparently I think they're trying to relaunch it because there's been barely any take up um of course what I was reading but yeah and like I'd make for a good video right every government does dispose of cash they do shred all old notes get destroyed maybe it's just a process so I didn't know if it was part of that news of coming down to 10 percent the cash reserves that they don't need anymore it could be just family money as well no no yeah but they're not blaming out the cash uh digital surely yeah it could be yeah there was someone some influencers done a video of it and just made it and sell me do that stuff these days yeah it could just be AI it could be well yeah I don't believe everything you see on x.com an amount of time last night making Elon Musk into a scarecrow that's good that's it was quite nice I use it as a a com I comment because I wasn't too sure if it was a bit close to any sort of bone and and yeah I know but what do you think about these things but I was just like because he's he commented that he's going to get rid of all the birds so I thought right you're a scarecrow me yeah it's good no no no I get it have a look give it like it's actually a very good by the way it took oh it's not render is it and it's not render it's a midgets it was good I was trying to make it properly through blender but then I thought no this is mid-journey all over yeah but um oh it's still got the Blue Tick it's it's quite hard to get elbows quite good Elon as a scarecrow through even fruit yeah one no not that one not that one that was a rough render God has replies that was a rough render it's a reply is that what you called yeah when I Rush him out there a friend or a friend oh I thought it'd be quicker but you just end up because in so many iterations you just keep going when could I get excited about it could I get excited about it anyway so are we talking about we won't even talk about Twitter then I've moved it it's too late two minutes go quickly get through this but we're only halfway through the agenda I want to talk about the rkj stuff as well that was on there I didn't fly it uh come back to that RF okay RFK okay yeah yeah about thank you Junior Robert Kennedy yeah yeah yeah RFK Junior rfkj rfkj rfkj I mean your little guy's Tim she wants to repeat that you're saying you've got two minutes left yeah absolutely like a broken tape yeah not the one the one about I was saying he wants to back the dollar with a bit Yeah if you read the code he doesn't really say that it's a basket isn't it he talks about no he just says he he wants to take one percent of uh us Securities and that's curious treasury sorry and they're backing with gold silver platinum or Bitcoin yeah yeah he's going to create a basket of stuff but is it for only one percent of one percent initially yeah bills two bills toes laying off the cuff comment is just generally I think the headline is what we do when we closed the last one he said and he was a ball will be good yeah but that may actually harm his bid for president I think I think them headlines will for people outside I think that's silly to for the industry laws himself in if he's a real Bitcoin well I think he's like you say though he said that and not yeah he sent it lastly US dollar with Bitcoin our industry has taken that and span it yeah and it's positive but actually like you say it's probably negative over there um because all the people outside the industry will see that and say what what yeah psycho well done guys so it's probably a bad thing sometimes you need to think about these things before we shout about them people don't unfortunately yeah that'll be interesting if he gets empowering starts back in the treasury bills buyer gold even gold would be interesting again Bitcoin says that he said test one percent and then if it goes well he would then increase that why did he say silver done what's wrong with silver day what's your platinum or Bitcoin was the quote it's much much more abundant in in the Earth's crust precious metals isn't it you can mine if the price of silver does go up because you're back in it um it's much easier than mine that's trying to refine and get a hold of than gold so it doesn't work as well against gold so why would you say thank you for the actual explanation but I was just trolling you but just because it's a politicians my point was it's a politician why the hell would you care this makes it fold only yeah I appreciate that explanation um El Salvador bonds are up 60 this year um so that's just the Bitcoin price has gone up 60 this year isn't it yes is it 60 ish just like moving on nothing really to talk about it uh these are these are all not to talk about really just Highline Tesla didn't sell any of their Bitcoin Holdings in Q2 which is reported in the public Q2 uh release last week was that they have sold twice as many electric cars as any other electric car provider in Europe that's because they only sell electric they are literally lapping them but that's because they only sell Greenberg headline hello is that before you mentioned 44 minutes 24 minutes but they can't sell a petrol car because they don't do okay how many cars do they sell the market is going to EVS isn't it um some huge suppliers VW PMW do you know what other worlds in the Daily Mail there was actually I'm gonna carry your balloon that's a street fighter or something or Mortal Kombat I've just shot him an electric bolt of in fighting man he's just gone hit me back with something so and but that was Kim Kardashian saying about it uh actually she no uh there was a headline in there the other day about electric vehicles not being as environmentally friendly as once first thought so it's now hitting well weed but it's not hit mainstream media as it's starting to now hit mainstream medium people realize that um so I don't know if that will be the case going forwards with electric vehicles are we going to Pivot Zach's been on this for a while aren't you we should pivot to hydrogen hydrogen okay but no no one in this room is an expert on these fuel types Zach's pretty good JCB launched that was pretty cool hydrogen pallets so which means that it doesn't like shell or one of the people no more than me yeah take it away I know JCB they're looking into it and have launched their line of agricultural Vehicles using hydrogen I I had a feeling I read something once that the big oil companies had shell that had basically pasted it and shelved it so that they couldn't so nobody else can build them but that may be fake news I don't know sounds like something making petrol better again a lot of companies looking into that you're better right I mean if it was up to me just stop making cars that's a good answer to it slowly per minute but yeah maximize the deduction sorry to stop damn it stop making that planet you saved yeah limit the amount of cut new cars that could be produced nowhere near cars nowhere near the biggest polluter I'm not making stop making sense but you just said Planet saved wow yeah so I could get an arrows so if you're talking about a tiny fraction of CO2 gases that are released by Vehicles so why is it such a mainstream issue about because everyone has them you're in the building industry you've already really got cement but that is that because there's not enough people looking at alternatives to that because it's not a mainstream issue well perhaps should we move on yeah Eco cement back to bitcoin NASDAQ halting uh not even mean your launch of their cryptocurrency custody service I think they cited regulatory Maurice basically oh welcome to the club um so yeah it was interesting because it wasn't long ago they launched the they announced that did they and then now they've froze it already uh interesting don't know yeah it's a bit of an odd one especially when the ETF when did they announce it that's just the balls up by them and it was about two months ago I think so too much we're gonna launch this yeah within two months they go yeah we'll also let's speak to someone in compliance about actually regulations no inquiries well I wouldn't I wonder if it was because all Port coinbase as the custody and that would have been Their audience uh demographic um that might make some sense because then they'd have to steal these guys off coinbase and maybe they just couldn't offer as good a service September 2022 they initially announced it today yeah nine months 10 9 10 months and then they've got rid of it already or they've halted it whether that means yeah it sounds like it's altered indefinitely everyone forgets about it and just disappears into the background uh UK Banks risk losing licenses for debunking customers over political views so that was on the back of Nigel farage still Making Waves knowledge isn't it still is uh you got apologies from everyone he got he did yeah they all count down but they don't give me this account back haven't they yeah we're really sorry we're really sorry Nigel or can I have my account like no no no no no sorry I've got rules and so we still lost the accounts just because he's had an apology it's like what's an apology it's meaningless at that point isn't it um but it's interesting that there's push for losing licenses for that sort of is it unethical I'm gonna induce a license no it's it's I mean what scale do they have to like with them this is one account person yeah closing correctly I mean right 4.3 billion dollars how many account closures incorrect their cutting closures would it take to lose your license billion well they're not billions but you know yeah [Laughter] it doesn't really make a difference you know what I mean like you have to move well it's crazy it's just stupid I get it um no one will need a license interesting to see how that continues to play out because I thought it'd be done and dusted by now but it's still dragging yeah he brought that up I mean what I also thought it would be done and dusted he started to start a whole Facebook campaign is it just is that Nigel farage cooking hours closed and getting them to do subject access requests enjoying that Facebook group finding out yeah I'm gonna do that nice and he's telling everyone how to go because he did a subject access request and he get all this he's just wasting that much he's telling him how to go do that they don't have to with that though you don't have to provide if it's um oh they gave me for agile is just like brexit's mentioned 20 times yeah they'll give him his stat is kind of like okay if they would like reported him and he was under investigation at some capacity then they wouldn't have to handle him oh no yeah I don't think yeah um but yeah because they've just closed him on a um like that but surely if they've closed him because of that it'll just be verbal so this is sorry this is all the emails they had about Nigel farage at Coots and his other bikes information he requested it's 40 pages long and he goes through it saying brexit's mentioned 40. oh okay yeah twice they got me a tosser twice basically they're building notes like we didn't have on the customer and everything so right yeah but if there's anything really bad that's probably not going to put in the official notes really that verbally tell each other internally um okay so yeah let's see how it plays out yeah yeah uh should we jump through this quicker yes please Bitcoin no longer an assert choice for criminals that's come from former elliptic crypto advisor elliptic being the uh like chain analysis style tracking tool um what his I don't know there's something that it was stable coins because of their accessibility um see how Bitcoin is yeah weirdly why would you use stable that's an interesting one you think of some of the Privacy coins maybe well same old coins are a little bit odd yeah that's weird yeah so it's a little bit silly if that is the case I'd be intrigued to let's query that wouldn't make a lot of sense because maybe they're not smart criminals because if they knew they were elliptic whoever the crypto uh analysis to the list is for them people it does make sure they've got a Facebook group and I'm not saying I won't I don't want criminals obviously use Bitcoin and that's a great thing they're going over to the same stable coins but actually if you go to stable coins as sax as that the issuer can effectively freeze them so if somebody if one of these tracking tools knew there was some criminal activity in this 100 million dollars worth of money here on a stable coin tether for example which is freezer and take it off or Olympic just saying this from their data because that's almost they could see because it has been frozen yeah whereas all the ones getting away with it using the Privacy killings you can't tell they can't tell so there's no stats for it maybe this apparently criminals have shifted towards dollar denominated assets like USD coin with their ease with their easy accessibility and ability to be laundered through decentralized exchanges yeah so they can use it on like yeah you trunk and stuff like that where you can use a decentralized exchange to mix it usdc that was interesting if that's the named one that's the one that's being pushed is the more regulatory highlighted a potential Silver Lining from a law enforcement perspective noting that centralized issues like Circle could free specific usdc tokens before criminals can offer up interest in the usdc and you you'd expect some of the other more obscure ones wouldn't you um I don't know odd um someone spamming the mental should we move on from that because we're already quite a while in now um 30 megabyte of transactions went into man pool of the weekends already emptied pretty much yeah there was there were actually I think um child-based repair yeah absolutely the most part um so what was someone doing someone had thought of giving out a guesser who they thought it was I can't remember what they said um it's like normally it's like a binance or something like that and they're consolidating lots of utxos into to one or two more than um or less than what's already there um it looked like there was a load that maybe you did put on when the backlog was there with the ordinals and then none of them ever got they might have gone out with one sat bite then none of them ever got confirmed and then now they're just kind of bumping that fee effectively right by using child-paced repairing um which is then pushing them all back into the mempool so I think that's all really it was but as access there cleared already and so that's yeah oxtc oxt BTC uh thought it might be coins paid over there yeah processing yeah cool um oh what do we care about Elon Musk and tour x.comx.com he's shown what well we can pull up the old episodes and you called it you did call it you were right I'll give you that that's never now then get one right um smart catch is it X I mean I don't really care about the name it's more about what he's doing with it he's turned his quote was something like he wants the majority of financial payments to go through x.com in the future so he's basically trying to centralize payments for the globe underex.com yeah um I mean which he dreams big doesn't he well exactly my life to be admired isn't it your Bitcoin admiring his approach to a centralized Financial system work no no no 51 the dream the dream's incorrect brother it's a dream big is you know admirable well thanks so you admire me for taking down HSBC in the future mine between dreaming big and crazy oh yeah you gotta dream you've got the crazy screen but yeah sure could be a little bit crazy on there um cool we've got click on news yep what new starts this week I know we touched on them earlier it's good times though uh you've got a new started stay Dave haven't you yeah yeah I've got a new star and you've got a new test it's my new start it's everywhere busy busy busy busy uh offices coming along nicely not that you can tell in this room has been the same as white house it's full of food it's the same but until we get our new new pod room yeah come along nicer Mikey we use an AI to design that so that's pretty cool um and yeah uh then I want to mention that because it's you know maybe just a bit humble what that's a little careful oh yeah I don't care it's Financial in it still mention it keep it quiet I feel like a girl mentioned it now no just doing some some humble stuff so yeah I keep it humble don't wanna background will work yeah all right so we're just not gonna shout about it because okay I'm the head of non-marketing at the moment oh yeah there we go right happy days only 14 minutes over your scheduled meeting though yeah I'm so not easy sorry the world wait today we'll talk about Bitcoin next week a bit more how are the disaster was snipe mining by the way oh you told me last week yeah snipe Manning's gone bad it's a look you know yeah by the week almost looks turned against me I think you need to get a better debt or analyst than your child yeah yeah Uncle Zach said this about you yeah yeah it's not gonna I think I was only in but I think probably similar amount of hours of mining but only involved in one block win so I didn't I did not beat the pool hmm okay but yeah we'll find out next week yeah stay tuned for that exciting information right thank you guys peace foreign [Music]