27 Burst results for "6.25"
The Café Bitcoin Podcast
"6.25" Discussed on The Café Bitcoin Podcast
"Now, this is remedial for a lot of you who are Bitcoiners. You've been researching this stuff, studying this stuff for a long time, and it's become obvious to you. But one thing to add onto what Dave is saying is that the reserve requirements are actually much, much lower. I think they're closer to around 1% or something like that. They get cut to zero in March 2020. So there is no reserve requirement. Is that what you're telling me, Mickey? Last time I checked, yeah. I'll go double check again. They're pretty sure they haven't raised it because that would cause a recession. It's one of the tools the Federal Reserve has to mess with banking. It's like a monetary policy. So everyone talks about interest rates, but reserve requirements are also one of those tools to manipulate the economy. It'd be funny if it goes negative, like you have to pay them more to even like let them have like a liquidity play on what you're trying to use. It's so crazy. It's just one of those things where it's like, how big does the grift have to get? Really? And by the grift, I mean just all of it throughout the whole government system, the banking system, everything. It's wild, but we have this thing, this thing called Bitcoin. Let's do some stats. We haven't done that in a little while. And if you are ready, let's talk about some Bitcoin stats. The Bitcoin impenetrable freedom force field level. What's it looking like? Yeah, it's been going back and forth. I saw it over 500 multiple times. Right now, this morning, it's an average. It moves around a bit, especially depending on how you're calculating it. Right now, I'm seeing 435 estimated exahash per second on the seven-day moving average. What's it called when we get past 1,000? Is that a petahash? Let's see, exahash, petahash. Yeah, I think so. I think that's peta or zeta. It's one of the two. I forget off the top of my head. I think it's peta. Yeah, peta and then zeta, I guess. Wasn't zeta ever. Possibly. These are big numbers. I don't know them off the top of my head. Hey, once we get to petahash, doesn't each block automatically generate a letter to your local senator against the Secrecy and Freedom Act? Peter, I had to, bro. Come on, don't, Peter. I was going to talk about stats and big numbers. How come we haven't said anything about the increase in the difficulty adjustment that happened over the weekend? Because that is a big number and a big stat with big implications. Tell us about it, Peter. It was a 5% increase in the difficulty adjustment. And that is because blocks were coming in too quickly over average of the previous two weeks. I think it was around nine and a half minutes instead of 10. And for anybody in the audience, that is the way the issuance of Bitcoin is programmatically limited. So you can only issue so much Bitcoin over a period of time because of the difficulty adjustment. It also means that there is a huge amount of computing power that is coming online searching for and trying to acquire these block rewards that come out every 10 minutes, which is 6.25 Bitcoin plus the fees. And there is a lot of fees going on right now or have been over the last two weeks. And so that is, to me, an indication that adoption is increasing, that people are acquiring Bitcoin, that more people are coming into the system, and more people are coming into the system attempting to win these block rewards.
Simply Bitcoin
Fresh update on "6.25" discussed on Simply Bitcoin
"Yeah years ago. I told some somebody when they were asking me what stock should I buy? I said you should buy a Bitcoin and they're like, what's the symbol? What's the ticker? I'm like it doesn't have one, you know by the time there is you know, something like that. The price is going to be a lot higher. Love it. That's all I get on the the advantage now is that it is it does take a little bit of effort to actually think about it, right? Bitcoin isn't harder than traditional investments. It's just unfamiliar. So there's this people actually have to put in a little bit of effort. Love it. Love it. Great great takes Daniel and then before I move on Sophie, you're so much more toxic than Nico. What do you mean? How am I more toxic than Nico? I rarely hear Nico say have fun staying poor and yet I think you've said that like 12 times since you've been on the show this week, dude, because it's true. You know what bring bullying back bullying works when you bully people listen. This is because I'm Latina and I come from a Latin household where like they tell you shit how it is. If you tell people some really hard truth, they're there. They're going to be forced to think about it. It's like when somebody tells you something about your appearance and you never noticed it before and you're like damn whatever and now you're like fixating on it and you're like damn it's true and it makes you do something about it. This is the same thing have fun staying poor. I'm going to make you feel bad because I know that I'm right and you're not and so and I'm and I'm actually doing you a favor. I'm causing you some short-term pain for some long-term gain and then you will thank me. Love it. Love it as our friend Planet Earth who hangs out in the chat. Oh, he says Bitcoin is for smarter people. You probably don't want some it's gonna you know, who is it rubbing the chest like it's gonna be so hard not to be toxic moving forward. Yes, it will be anyways guys before we get into today's breaking news. Make sure you guys get your tickets to the Bitcoin conference in Nashville. We're taking over Nashville July 25th and 27th and you can get a discount code using simply I know you guys complain about the prices. This is why we're telling you to get it now you will FOMO into the conference. It happens every single year and we can't wait to see you guys. So get yourself a ticket guys and we will be hanging out in Nashville next year. All right, guys. Let's get to the news. A simple feature phone so you will know how to navigate it and use it the moment you pick it up get your Bitcoin off exchanges and into your into your own hands in just a few minutes experience a peace of mind that comes with taking ownership of your own keys after a massive sellout during Bitcoin Miami 2023. The passport is back in stock at Foundation devices.com Bitcoin only open source verifiable completely air gap security model gorgeous design craft premium grade materials. If you're thinking about getting your Bitcoin off exchanges. This is the one for you. Check out the passport link in the show notes below to learn more. All right, guys. We're going to update that app because don't think about it. You need to get your Bitcoin off exchanges get yourself a passport by Foundation scan the QR code because you do it's not your Bitcoin if you leave it on exchange, we definitely got to update that. All right. Anyways guys big news big news, but before I get you the big news today, let's talk about the context here. So, you know, I'm going to have to kind of this might get a little nitty-gritty for you guys. We try to keep it high level as much as possible for you guys. So, you know, don't don't think of this it might get a little technical but it won't be too technical. So there is a lot of fun and you've been seeing this reoccur on Twitter about mining centralization and it might just be that people don't fully understand what's going on. There is as you can see here. I do I'm over here on Luxor. You can see that we have Bitcoin mining pools and actually before I go in maybe I need to do a breakdown differentiating between solo mining why you would want to use a pool and or why you might want to avoid using big pool. So of course guys, you know, hey you can plug in an ASIC and be a solo minor and you may potentially land yourself a block land yourself a big block subsidy or currently it's at 6.25, but usually if you are mining your you know, your S9 your single S19 your chances of getting a block are slim to none. There is huge huge ASIC farms out there and you don't have enough hash power to necessarily beat them out or get lucky to get yourself a block subsidy. So most people link up to a mining pool and you usually do this because it gives you a consistent payout and if you're spending money on electricity, you're going to want to get paid and so people link into mining pools so that they can get a consistent payout and as you can see here on this chart this over here on hash rate index is by Luxor. You can see the biggest Bitcoin mining pools or rather the most popular mining pools and there are a few other ones that are in here. I know there's a few new solo mining pools that are part of this but you can see that the two biggest mining pools right here ant pool and foundry collectively have more than 51% of the hash power and if you know anything if you know any rudimentary aspect of Bitcoin mining there is a thing called a 51% attack on Bitcoin and people have been saying on Twitter that you know, maybe collectively foundry and ant pool. Maybe they'll just get sent a court order and then they will have to you know, by law by their regulations, you know by the powers that be censor Bitcoin and start to avoid some transactions and we have seen there's been a lot of push towards OFAC compliant Bitcoin mining blocks Bitcoin mining transactions and now we just saw that before I get into the big news of today of Jack Dorsey leading investment into oceans. Let's talk about demand. So demand launched the world's first Stratum v2 Bitcoin mining pool. We did a whole episode on Stratum v2. I think it was like two three months ago. So I'm not going to go fully deep into what Stratum v2 does but it does cover this in this article before I get into today's news. So this pool built on the open source Stratum reference implementation aims to usher in a new era for mining by introducing enhanced security flexibility and performance. So Bitcoin mining company demand has announced today. Does this have the date November 27th? Oh, it was this week. It was Monday. All right, Bitcoin mining company demand has announced today the world's inaugural Stratum v2 mining pool according to press release sent to Bitcoin mag this pool built on the open source Stratum reference implementation aims to usher in a new era for mining introducing enhanced security flexibility and performance the Stratum v2 protocol marks it significantly forward from its predecessor according to the release offering a suite of improvements that not only elevate mining capabilities, but also champion a more decentralized mining landscape Alejandro de la Torre demands co-founder and CEO stated with Stratum v2 and our new solo mining pool. We aim to make home mining more attractive which should in effect help decentralized the Bitcoin mining ecosystem and improve the health of the Bitcoin network overall key feature of Stratum v2 is its empowerment of individual miners to construct their own block templates traditionally mining pool operators wielded control over transaction selection posing centralized risk vulnerable to potential regulatory pressures for transaction censorship, Which I just briefly covered Stratum v2 now grants mining pool users the autonomy to select transaction for block inclusion fostering a more decentralized network resistance to censorship because Bitcoin mining is overwhelmed overwhelmingly done through mining pools transaction selection has become relatively centralized only a few mining pool operators can essentially decide to collude and prevent that certain transactions ever confirmed demand co-founder SRI project lead Felipe Murley apologized bro said Stratum v2 gives the power of transaction selection back to the individual miners to make the mining ecosystem more decentralized and Bitcoin more censorship resistance. Well, this isn't the only news that dropped this week in regards to decentralizing Bitcoin mining. We got this news yesterday. It came out at the future of Bitcoin mining conference that Nico was actually at and we got this tweet this morning from Luke dash junior and he goes as announced at the future of Bitcoin mining conference. I have relaunched my allegiance mining pool to help bring more decentralization and Bitcoin mining. I am calling it ocean and here's a press release. I will cover the press release but the old code has already been updated and tested with support for the latest Bitcoin addresses and mining machines as was the case with the legious ocean is a non-custodial pool paying miners directly with generated coins and it provides the highest level of transparency both in proof of work contribution and block template construction absolutely love to see. All right, so let's get into this press release as you can see we are over here on PR news wired the I don't know the industry standard for press releases and it goes Jack Dorsey lead seed round in support of oceans mission to decentralize Bitcoin mining globally announces launch at future of Bitcoin mining conference. So the seed funding will support the launch of ocean the first of many mining decentralization projects for Bitcoin long-term Bitcoin core developer and mamolin co-founder Luke dash junior said the role of mining pools must change for Bitcoin to exist as a truly decentralized currency put differently ocean is a new type of pool that enables miners to be truly miners again. We are launching as the most transparent pool and also the only non-custodial pool where miners are the recipients of new block rewards directly from Bitcoin traditional Bitcoin mining pools take exclusive custody of block rewards and transaction fees before splitting them up amongst miners. This gives them the ability to withhold payment from individual miners whether by their own choice or by legal requirement oceans non-custodial payouts directly to miners from the block reward remove this risk and the pools undo influence over miners oceans global head of sales to pseudonymous Bitcoin mechanics said this the intention is to disintermediate to the greatest extent possible pools have become trusted third parties whose permission we have required for activating soft forts and deciding what gets into the blockchain in addition to taking custody of all newly generated coins by offering transparency and a mechanism for miners to be paid directly by Bitcoin itself. We make the network radically more robust the name ocean intentionally contrasts with the restrictive permission nature of legacy pools essentially you know, you got to you got to play by the rules when you're in a pool, but when you're in the ocean you can do whatever you want. So our contribution to ocean comes out of a deep respect for their mission says Jack Dorsey. I think it's a phenomenal team. I know Luke I've interacted with him for some time and I was inspired by the vision and most importantly the execution. Mr. Doze Dorsey noted ocean is solving a problem for big corners that I think all of us feel further centralization of pools and mining pools that can plague Bitcoin and have that risk a bunch of Bitcoin attributes that we hold dear as part of the launch. Mr. Dorsey noted when I see a project that is good for Bitcoin broadly and that's also good for me and my companies personally it becomes a simple decision for me and I'm happy to be a part of it oceans first customer barefoot mining said the following via its co-founder and CEO Bob Burnett in my opinion. This is the most significant new company announcement in the Bitcoin world over the and some badly needed diversity to the mining world. And of course they made their announcement at the future Bitcoin mining conference and here you guys can go check out all of the you know, the nitty-gritty on ocean dot XYZ, but as you can see Bitcoin mining as it was meant to be ocean is a new type of mining pool on a mission to radically decentralized Bitcoin mining and a quote from Luke Bitcoin is no longer censorship resistant and mining centralization and dangers its security to it's time to fix that you can see it is a rebrand of an old mining pool called allegiance. I believe it is non-custodial and is transparent. It is permissionless and I do have some notes here for you guys. So, you know, I think this is one of those moments there hit there is some contention on Twitter right now, you know people are saying maybe this is just some marketing like oh decentralized mining pool or isn't mining pools decentralized in general. Well, as you can see no longer do you have to trust and here let me pull this back up for you guys. No longer do you have to trust just these mining operators of these pools here. You can now basically construct blocks by yourself and you can see essentially what is it one, two, three, four, six, seven, eight about like what 12 to 16 pool centralized operators are kind of in in many ways like the Cantion, you know controllers of what gets put into a block will now with oceans and also demands in general. Now as a home miner, as a pleb miner, you have a lot more flexibility and more control of what transaction get put into a block and also, you know, you're going to get rewarded for every single hash you put in to the network from whatever ASICs you have you will be paid out directly from a Coinbase transaction and there's zero fees for now, which is obviously incentive for you guys at home. No KYC. You just need to add an address and point your ASIC to the oceans pool. It's come pretty much completely permissionless. It's literally all you need is an address and you don't have to rely on pool operators being honest. Now you can construct a box for yourself and also there will be opportunities for small miners to be paid out via Lightning, which I would say is also super bullish. So I think this changes the landscape for not only smaller miners, but larger miners and I think this is huge for just further decentralizing the Bitcoin network. There is so much contention out there so much mining FUD that like, oh with people that don't understand what's going on that oh Bitcoin mining hash rate has been centralized. There's only 12 miners out there when they're pointing at these pool operators, which you know, like maybe they're kind of right. There is 12 operators that do control these mining pools, but hash rate, you know, if you have hash rate, it doesn't mean that you are controlling the network like first people don't control the hash rate if you are the pool operators and now you can pick up and go that's the beauty of Bitcoin miners in general that hey, if you don't like what the pool operators are doing either you just take it or you move to a different pool. Well now with oceans you have direct access you have a lot more flexibility on what gets put into transactions. And of course, I would just say that this is further just decentralizing the Bitcoin network making sure that hash rate is decentralized and making sure that there isn't just a small group of people that control what gets into the Bitcoin network. Now, of course guys, I'm giving you the high-level overview of this because there is a lot of nitty-gritty. I would definitely recommend you go check out Stephon Lavera with Bitcoin mechanic. He does a great breakdown of this go check out ocean.xyz or even watch the announcement at the future Bitcoin mining conference of Luke dash and Jack Dorsey, but I would just say that this bear market has been absolutely bullish for Bitcoin in general Bitcoiners are building and you just love to see and it's really setting up for a perfect storm moving into 2024 and 2025. All right, there's my ADIQ high-level view of this. So Daniel, let's get your take on this. What was your first thoughts when you heard this and did you get time to get into the nitty-gritties? Well, yeah, just yeah, it's all good news and I'm happy to hear it again. I don't I don't like to see you know, two pools over 51% you know, even though again if there's only so much that can be done with the 51% attack, right? They can't they can't steal your bitcoins, but they can cause problems for the network overall and I don't want to you know, think that you know, one phone call could potentially you know lead to a coordination between pools and cause trouble for Bitcoin. So it's always great to see anything that means more decentralization new mining pools stratum v2 giving individual miners more control within the pool, but also just hash rate can and can and does move very quickly between pools. So even though the pool shows hey, you know that it's got 25 30% question is right. How much of that hash rate is under their own control and how much of it is external and can move pretty much immediately. There was a mining pool that I believe ran into some financial issues last year and you could see as soon as I was as soon as I was clear that the the payouts were interrupted to miners 40% of the hash rate evaporated pretty much immediately. And actually, yeah, if you see the statistics on ocean dot XYZ, you can see that their hash rate since the announcement is just you know, skyrocketing, right? So it's great that miners can redirect that hash rate is necessary if they disagree with saying a pool is doing or you know, the pool isn't in some way, you know malicious or so that that really helps act as a check on that. So yeah, I've been excited about stratum v2 for a while. Obviously, it's been it's been years of work to build this and not only right here. Yeah, there you go. Not only does that help in terms of reducing the power of the mining pools, but it also means more bandwidth efficient it prevents like man-in-the-middle attacks against miners if someone's trying to steal their hash rate for example, so there's a whole host of benefits in there. So I think that will help provide incentive for the pools to adopt it and also the pools have to compete with each other for external hash rate. So saying there in stratum v2 is you know means they're on the latest standard and it also is a nice differentiator and shows that they're I think good actors for the network. I also just want to appreciate you know, say say how much I appreciate Luke's contributions, you know, there's only a handful of people that have that are technical that have been contributing a lot since like that that time period you know that he started like 2010 and a lot of other people have you know burned out or left or rage quit and so on. So to see someone contributing, you know for now well over a decade from the early days to the present is quite impressive. Oh also fun fact St. Allegius is the patron saint of coins. So it's not a not a random name for the for the original name of the pool and the mummeline however, you pronounce that is actually a saint that was the successor to Allegius in in his role as Bishop. So just a fun little Easter Egg there. Interesting Luke Dash Jr. doesn't disappoint with the naming of his company very very true to form and yeah, just to comment on Luke. I I would say he's one of the true OGs of Bitcoin and you know, he's not one of these guys that's more like me that is just always bulltarded. He is very critical of a lot of stuff going on in Bitcoin. So to see him be at the helm of this I think it's absolutely not only just bullish but just like a beautiful synchronicity moving forward and and truly will be a bulwark for the Bitcoin mining space in general and let me answer one of these questions right quick Roman. Yes, the pool is already operational so you can you can put your hash rate to oceans today if you want to if you have a six out there. All right, so I know we're getting technical here today, but Niko was a minor. So maybe you do have some some views on this. What's your thoughts on this? So this is definitely more his Lane than it is mine. I don't know much about hash hatlet hashing hashing. Oh my God mining but I do know obviously the decentralization is good as you were explaining it. I understood I did first of all, I was today years old when I learned about what a mining pool was. I had no idea that different miners could band together to censor people's payments. I had literally no idea that that could even happen. So it's it's really good that you know, the base Foundation of Bitcoin is decentralization because if it weren't for that then solutions like this wouldn't be possible if this was a shit coin where it was controlled by a company or an individual or you know, a couple of people then you're already starting off wrong. But Bitcoin is established in such a way that you can create solutions like this and it seems that no matter which way Bitcoin gets attacked there. They always find a way and I think it's interesting that they named it ocean because the ocean is very fluid but it also always finds a way to get through Rock. So yeah, I mean, I I don't have many thoughts on it. I think decentralization is always good and I and I also I want to give a shout out to Bob Burnett cuz I love that man. So anything that he's involved in I love let's go love it. Love it. Okay guys before we get into the culture. I think we're gonna have a good conversation the culture Shouts out to the boys over at Kaboom Rex. Look we're talking about mining. So if you have been thinking about getting yourself some a6 go to over to Kaboom rax.com get yourself in touch with my boy Alex over there. He will probably convince you not to buy a6. But if you do want to go to Kaboom rax buy a6 there sell your a6 to them and they are also have a hosting program that they have just released a couple of months ago. So fully endorse the boys over at Kaboom Rex. I think they are one of the best in the business. So let's get into the news because I'm super excited for this conversation with Daniel or rather culture.
The Café Bitcoin Podcast
"6.25" Discussed on The Café Bitcoin Podcast
"Jacob is telling me that Taproot activated two years ago, almost to the day. Is that right? Yeah, it did. It did. But see, here's the thing. Taproot activated on Mainnet two years ago. And what I said back then was it's going to take one, two plus years before you see people actually using Taproot. And even that was a bit of an underestimation. And what that means is just because Bitcoin, the code supports Taproot doesn't mean that people like me, people who make applications, know how to implement it into my application or wallets use it or exchanges use it or that kind of thing. So there is still a lot of technical debt. And that's why it's so amazing that people like Nifty are teaching this class because they're showing people how to actually implement Taproot into their application, product, service, et cetera. Excuse me, I'm somewhat eating breakfast right now, so I had something in my throat. Anyway, one question I've got for you guys, the smart people up here, there's an article in NASDAQ, Reuters, and it's filled with the common nonsense. They're like, oh, Bitcoin mining is these really powerful computers that are guessing at these extremely complex math problems, which is basically not really what happens. But the other part of this article that I thought was interesting and I was curious to get you guys' input on is that they claim, I'm going to say it, just read it, you're seeing a lot of urgency to plug rigs in ahead of the halving. This is Gregory Lewis, he's an analyst at a brokerage firm that covers the biggest Bitcoin miners. So why would there be an urgency to plug in miners ahead of the halving? Can anybody explain that to me? Yeah, I can explain it. So what they mean is up until the halving, which is going to happen sometime around mid-April, and by the way, I want to get Ant's best estimation of the actual day when that happens. But before the halving, you're going to get double the money for every block that you find. I mean, literally double. You get 6.25 Bitcoin, as you know. After the halving, you only get 3.125 Bitcoin per block found. So there's a lot of pressure to plug in. If you have any rigs sitting around, plug them in now up until April 15th, get all the Bitcoin you can. And if you're no longer profitable after April 15th because your cost exceeds how much you would make from finding a block, then you've got to sell your rigs.
What Bitcoin Did
Fresh update on "6.25" discussed on What Bitcoin Did
"But yeah, what was your question? So I'd say a pretty refined sales pitch now. So is it got easier because you could say- It's gotten way easier because- Because we're on so many sites, like we've done so many? That's been a contributing factor. We have the reputation in like the deployment history and my team is a great experience base, but credit to all the other people out there doing it in my competition, they've also done a lot of good work making good deployments, educating people. And now people will look to us as one quote, like reference us for one option and we might not win it. Like someone else might win it, like a competitor, but we're getting, it's sort of like anything the economy grows and that brings in more people and then we just get more cold calls. So it's like a matured industry now. Is it spoken about in kind of trade publications? Is everyone like, oh yeah, you should be doing this and now you've got inbound? I would say that I would go out and say any facilities or production engineers at oil companies that aren't even aware of this by now have been completely living under a rock. Not so much because like we've done so much great marketing, it's just that this has been around now. I'd say starting in 2020 was around the time where most of the companies I talked to had already heard about it. They heard about us or they just thought about the idea. When I started in 2017 and 2018, it was like, it was really difficult to get people even understand what the hell I was offering. But that's how fast the market has developed. So most Canadian and American oil and gas companies, someone in their companies looked at this, evaluated it. They might not have gone forward with it, but like, you know, it's on their radar as an option. And sorry, there's so many things I want to know. So do you arrange the ASICs for them? Do you do everything? We will do everything if they want us to. We have a whole different variety of customers who are of different competencies. Yeah. It just depends on what they want. But ASICs age, and so will they always be looking to upgrade their ASICs as well? Well, actually, that's the worst part of any Bitcoin mining operation is that the ASICs depreciate incredibly fast and are super volatile. And you can also get totally wrecked buying from the wrong vendors, either scammed, or they're just broken out of the box, or a number of problems. Everything else, though, upstream of the ASICs, like the PowerGen, and that kind of thing is more or less low risk. Like it's sort of well understood. But the ASICs and the enclosures, which we specialize in building enclosures, that's for the oil company, it's the most foreign aspect of it, like them investing in computing, which often they don't want to do. Like they will invest in PowerGen because they know how to generate power. They do it all the time. Is it a meaningful amount of the hashrate? I would say it is meaningful. I haven't really thought about where it might be right now in terms of levels. It would still be on the low side of off-grid mining. It would be on the low side of the global hashrate, for sure. I know like Daniel Botten, he talks a lot about landfill gas and stuff. He's put out some metrics on what he estimated. He sort of tried to figure it out based on some companies, different companies, like public numbers and stuff. I can't remember what he put out. But I think it's going to grow, though, because I think it'll grow, hard to say where, but I think it'll continue to gain overall market share, like this off-grid mining. And obviously, it makes everything more decentralized because we have had that big growth of these industrial-scale mining sites, which are obviously great for Bitcoin in some ways. But also, there is a centralizing force there. It's a different risk profile for Bitcoin itself. It's true. Yeah, especially like when China banned mining, everyone was at that time crying about why, you know, China's got all the hash power. This is terrible for Bitcoin and stuff. And it's funny because then a lot of it migrated to the US. Now we're okay with it. And it's sort of like, I don't know what the US hashrate is now. Foundry is like, I think, still the biggest pool. And then... I mean, when you look at that dip on this chart from when China turned off, it was just nothing there. Oh, it was huge. It was a huge percentage drop. But it took what, like six months to recover or something? Yeah. Yeah, that was a good time to be mining. A lot of it's gone to the US. I don't know what the US installed hashrate is overall, but it's very significant. So it's funny because it's sort of like flipped to the US. So a lot of guys aren't really complaining about the US dominating as they were with like when it was the Chinese. It could turn out to be a geopolitical mistake of China. For China. Yeah. Yeah, I'd imagine. But China, they had like the Yangtze River, I think was powering a ton of the Bitcoin mines because all that hydro surplus. And then I think when the river died down in the dry season, like a lot of them migrate to like other power plants across China. But I do think it was a bad mistake if you, in a sense, but in another sense, you could argue the governments want to kill Bitcoin because it threatens their money, you know, their golden goose. So it's hard, you know, it's maybe not so black and white. I'm still amazed we're here and Bitcoin hasn't been banned. It just still amazes me. Yeah, it's sort of like, you could almost say it gets semi-banned here and there. Like, well, there's like in mining plenty of jurisdictions that literally banned it, right? China, obviously. But like Quebec, moratorium on it. Many jurisdictions put, say there's a state or a county in Colorado right now that's basically banning mining for oilfield. Adams County, I have customers there and they're not allowed to get permits. It's just bullshit for no reason, just because they don't like it. You know, it's bad for the environment. It's what they say. So... But it's literally doing the opposite thing. Yeah, but they don't care. You know, these people, right? Like these ideologues or whatever they're called, like they don't they don't care about facts. They just whatever makes them feel good. So like that's unfortunate what that county has on their governing board is just a bunch of woke individuals that really anything that allows oil and gas to be profitable, they want to ban. That's just their mentality, unfortunately, for those customers. So they have to navigate that. But we've seen in mining, like, and now you see, you know, Marathon got a lot of shit when they were I think they might still be promoting it. They might have they might have eased off, but they were promoting like OFAC compliant blocks, censoring blacklist transactions. There's another pool. I don't want to tease it because I think it's coming out soon, but there's a report coming out soon. So I don't want to spoil it because I'm not sure I'm allowed to. But they're going to there's another big pool that apparently is censoring OFAC, you know, non-compliant transactions. And that might come out next week. So it'll be news in the space. But so I heard rumors about that. So you're seeing censorship on the on the base layer by mining pools already. This won't be out before then. So can you name a shame? Okay. Well, okay. You better not throw me under the bus. I won't tell you who's researching who figured this out, but because I think they're publishing it. F2 pool. Okay. Yeah. Apparently, they just proactively are doing this. Now this isn't, arguably, it's understandable they're a business and if you want to stay in business, you better comply with the government like if you want to do your thing. Are they based? Where are they based? F2 pool is, I don't know if they're headquartered in China, but they're always been a Chinese pool. Okay. Yeah. Chun Li is the owner. He seems to just be traveling the world everywhere now. He's a good dude. But he, you know, they're a white market, I call it white market business, right? Like my business, I don't operate in the black market, I can, I have to record all my transactions and make sure I, you know, the government, if they want to audit me, I have to be prepared, unfortunately. So, you know, like, I prefer not to have to do all this, but I don't want to be shut down. So if they come to me and said like, okay, you have to, you have to mine on an OFAC compliant pool, what am I going to say to them? No, like, I'm just going to shut down now, like, I'm just going to do what them told us because I'm in the white market business, unfortunately. But Bitcoin is resilient, and there's presumably a lot of the network won't comply with that. And just by not complying with that, you're going to get more money because if you solo mine or mine on a non-compliant pool, you'll get paid more because all those fees that they're not including in the other chain or other pools and the other blocks will go to you, and you'll get a premium. So that's actually the whole principle of how Bitcoin resists state censorship is the fee premium. And it'd be interesting to see that because you should be able to start seeing that by people like, like companies like mempool.space might start observing pools and, you know, you should be able to see a long-term trend while this pool average block reward is less than what it should have been. They already do that, they do this health status on each block. So if it's not like the expected block, then it gets a lower health status. Can we see any? So that one was mine by F2 pool. These are all 100 bucks. Oh, there you go, that one's a little lower. You definitely get them, sometimes they'll go into the red and... Yeah. Find a Binance, can you find a Binance one, Danny, after what we were told the other day? Binance pool? Yeah, because we were told Binance will batch their own transactions into the blocks they mine. And so they're not the most profitable ones, but it's, they've run... Oh, they almost have like an off-chain fee. Like you can almost say they have a value coming external from the block or that justifies that. Well, they want to like consolidate their own UTXOs, for example. Okay, yeah, yeah. Well, even mempool, right? Like mempool.space, I believe, is partnered with Foundry and they'll accelerate your transaction. So they'll basically pay Foundry off block reward, because you're basically paying Foundry to include you in a block, which is, I think, good. Like that's, in the end, whatever, a mining business, that's what they do. They produce blocks. And if you want to sell services to do that, it makes sense to me. So one Bitcoin in fees is a lot, so people listening were just looking at mempool space. From a percent standpoint, yeah, because we're at 6.25 subsidy in the block reward. So one fee. Slushpool just hit a 2.5 Bitcoin block. Wow. Yeah, and if you go look back, like there's probably some chunky ones there. I think the mempool's cleared up a little bit, but... They're all over a Bitcoin in fees, though. Yeah. Yeah, so that's just generally, you know, that's just inevitably, even at this current fee level, just in a few more halvings, the fees will be the majority of the block, right? How much are you thinking about the halving? I'm always excited for it, because it's never good for the miners. It's literally just an instant massive drop in revenue. So a halving of the subsidy, which by then we'll see if fees are high, like it won't be a full halving of revenue, but it's, I sort of, I guess I would celebrate it like any Bitcoin, or it's just sort of a cool milestone. Yeah. It's a cool event, like there's some cool halving parties, I'm sure, are gonna be up this time. But I don't care about it, because the hash price, to me, is the only thing that matters. Because the hash price will build in everything else, the Bitcoin price, the block reward, the difficulty, it's all built into hash price. So you know, when we're talking about hash price at the start, if hash price at $50 per pay-to-hash per day, if that is the market for, and any hash price under that people have to shut off, the hash price will go self-regulate at that, whatever that threshold is, right? So I never think about fees, I never, like, one mistake I think a lot of miners have made, I've always at least tried to educate them away from doing this, is like, I don't ever predict Bitcoin price, like when I'm forecasting, I don't care about Bitcoin price, I don't care about difficulty, because everyone's, everyone, not everyone, a lot of people over the years have been, when they're making their economic case, they're like, well Bitcoin's gonna go up 10% a year, and difficulty's gonna go up 15% a year, and fees are gonna go up this amount, and then they derive their revenue off that, well that's just, it's all built into hash price, so just forecast hash price, that's all you need to do. And this historical trend, like, that you got on the screen, to me, like, $50 is that, at least given current technology, like computing efficiency, is a reasonable floor, and if I can survive at $50, I'm willing to invest more in my business, if I can't survive at $50 per pay-to-hash per day, I'd be looking at maybe selling, and getting into making pizzas or something, because frankly, if I can make more money selling pizzas and turning my profit into Bitcoin, why would I be paying Bitcoin money, like, and just losing money, it doesn't make sense. How do you forward predict the hash price through a halving? What's like been the historical precedent? So if the halving's happen tomorrow, and ignore fees for a second, because, you know, a dollar fees, you know, almost 20, you know, we're almost at about 20% of the block word is fees, just ignore that, just for simple math, well, hash pricing, they cut in half tomorrow. If halving happen tomorrow, and we're ignoring fees, then my reward tomorrow will get cut in half. But would it really, because wouldn't a load of people then switch off? Yes, they will. So ignoring what the market will do to respond, everyone's fee, everyone's revenue is just gonna get cut in half, but we all know, if that happened literally tomorrow, there would be even just algorithmically a lot of Bitcoin mines are just shut off, because there are a lot of people actually run their Bitcoin mines, and if they're either automatically shedding if hash price drops, we actually that's one one thing I'm promoting this week. And so I'll show myself here at TB at this North American blockchain summit is we have our new load sync controller. So basically it's, it's built for our load centers, which is our fancy word for Bitcoin mine, sort of like a play on data center, because Bitcoin mine is not not data center, so we call it a load center. Anyway, so they it basically will take any kind of input and shed your mind for a variety of reasons. Like, if hash price drops, it'll tell the whole thing to shut down, if you tell it to, if that's your signal. If the market rates say on ERCOT or something, flip down, you know, you're doing load shedding based on the ERCOT load response protocol, it'll, it'll turn everything off to be compliant with that, which a lot of Texas miners are doing. If your generator that we built for you is having frequency problems, meaning a frequency is proportional to the engine speed. So if the engine speed drops, because it's overloaded, or like there's not enough gas going to it, it'll shed to save the engine to keep the engine from going down. If the ambient temperature goes up or down, and you have set points, it'll shed, like it'll do, you know, ramp up and down, so it's called load sync, so it synchronizes with, the load synchronizes with all these different factors. And a lot of Bitcoin mines, they might do it manually, or they might have something like our load sync controller in there. And it'll shed their entire operation, if they hit a, if they hit, call it break even revenue, where their costs and revenue are, you know, they're making no money. Most of them I don't think do that. I think a lot of them will, like they're watching it, and they'll actually make a decision to shut down. But it depends on what your inputs are, and what you're trying to achieve, because some people are trying to save, say, say they want to underclock their computers when the ambient temperature hits 35 degrees C, because they just know that that's the level where they start to have overheating issues. Well, our load sync will just, you know, it'll do that. So that's sort of what, you know, the hash price, a lot of the market will respond to hash price, because that's their gross revenue, so they'll just shed, or shut down, or it also depends on their contracts, they might have fixed contracts, or they might be paying it forward, so they have to keep paying it for the next few periods. So there's all kinds of factors, but. Do you think there'll just be a period of kind of volatility in this, and then it will eventually level out back to a very similar price? Very quickly, I think. So it's almost like the hash price, the floor on the hash price, that's like the aggregate of the market. It is, absolutely. It's going to happen very, I think, quicker than ever. Like we'll see it stabilized to whatever the new sustainable hash price is. I could see still taking several months, because there's going to be like those scenarios where guys are already forward paid their hosting, or their contracts, and stuff like that. One thing I think you'll see in the future, say 10 years from now, I fully, my expectation is that most of the hash rate installed in the world will be offline, because like you'll have all these like installs that are, I hope, at power plants, like I said, and they're only going to come on when Bitcoin hash price is so high to justify them to come on. Because the more these computers keep commoditizing and getting cheaper over time, which is the trend, like cheaper per kilowatt and cheaper per hash, you should see them, you're going to see more like more and more just sitting idle waiting to turn on. And so when you see spikes in hash price or spikes in fees, say the ordinals pumps all of a sudden in a month and doubles fees, you're going to see hash rate just come online, chew through those blocks, and then come offline very quickly. That's what I'm expecting when we have a very mature market. But that could be 10 years from now, it could be 20 years from now, I don't know. The maturity of the market of mining is so cool. It's one of those things like if you ever got a chance to sit down with Satoshi and say, what do you make of what has come of this? Yeah. Because you started this out, people were mining from their computer, look at what we have now. Yeah. I sort of wonder if he or she or they or whatever, I think every grain inventor doesn't know the full scope of how their invention gets used. And I do as much as anyone idolize his invention and what he did or he, she, whatever. But I'd be surprised if this person knew that the application of the hardware side of this would trend the way it is. I believe it's going upstream to the power plants and just being a sort of like a smart, I always sort of call them a smart load bank. Like instead of running dumb load banks that waste heat, they're running load centers that make the money. I think they probably figured it out as they saw the trend going and they decided to leave Bitcoin. But like, and I hope they're still around. But I couldn't imagine at the time, you know, obviously they knew that big server firms might sprout up like mining firms, but if they were able to extrapolate this back then to like, this is actually going to really fix our energy system problems, I'd be blown away if they're not that far ahead. Because that was very, that only became apparent like years into it, like once it started industrializing. In some ways, it's one of the coolest things about Bitcoin is these unknown unknowns that you get out of it. This, what we've got with the grid, what the, is it Vespa, the people on the... Vespene. Vespene, yeah. You know, and I'm like, what are the other unknowns that are going to come? Like what are the things that Bitcoin is, because it's almost like the perfect economic system. Yeah, I think it is. Yeah. And so all the kind of benefits that derive from that, I just, it blows my mind. I just, I'm in total awe of what a protocol with two, essentially two economic rules of 21 million half cap and a half in every four years has managed to do to the world. It's like unbelievable. It's still super in its infancy too, like mining especially. Like the industrial mining rigs, like these like Bitmain machines, Watts miner machines, like they're getting closer to commoditization, but there's still a lot of advancements that can be made. Like one that you don't hear talked about a lot, but I sort of touched on it, was if they can, if the material science can improve semiconductors to run at hotter temps and maintain efficiency, there's so many new applications for it that would be unlocked today. And the current application base would be improved even further, like less costs to deploy the same load, like computing load. And that would open up a broader market in the existing market. Like it would, some applications which aren't the lowest hanging fruit would start to like be easier to reach, right? If you want to think about it figuratively, but then like the really, really niche things like putting it on, say for example, in my industry, like flare gas mining, you don't really see a lot of guys, I haven't even heard of anyone doing it on an offshore platform. There's reasons for that, but one of the biggest reasons is just the incremental cost to put that kind of iron out there is a lot. The fruit is really high on the tree, why are you going to pick that, right? But if you get the power density higher and the physical load space, the footprint smaller, you actually start like these applications, they might still remain high on the tree, but we're getting closer to them, right? So there's so much more to happen in like Bitcoin mining tech that we're only really starting to scratch the surface, I think. That's what I find exciting, that's why I'm like really motivated to keep our business like hopefully close to the leading edge of all the tech so we can stay relevant over time. What do you make of the whole integration of AI server? Like our sponsor, Iris, have been testing that. Have you looked into that? Do you find it interesting? I've looked into it as lightly as probably you have. So I like seeing Bitcoin miners look into that and actually invest into that because I like it because, well, I'm hyper focused on Bitcoin mining technology. We've had, say, I've had a few conversations where people were expressing interest in us like, I don't know, doing this in off-grid. To me, there's a lot of reasons why I don't think it makes sense for our current business, but I like I want to just focus on one thing and hopefully do it the best. I want to be the best at it. And just over time, because I think the market's only going to get bigger and bigger like so that we're well positioned to grab a chunk of that market share. And so when I see big miners like Iris, they actually do seem like one of the better performing mining companies overall. I like that they're doing this for a selfish reason. They're going to get distracted by a different technology that I don't care about. And that money and time and resources, and it's just also just the mine share is off the market I'm going after. So I love it. I'm like, please go ahead and shift all your resources to AI. And I actually wish them all the best. I just know that, say, personally, with Upstream Data, myself as the guy directing the ship, I have nothing to add in the high performance computing space. I might be able to integrate someone else's HPC data center with our product. But that's as far as I would go. I would try to help build them something. So I do like seeing it, though, just because it's like, please distract yourself so the hash price goes up while you're distracted. Yeah. Well, listen, I mean, I ignored mining for probably my first three, four years of making this podcast. I barely paid attention to it. Everybody did, Peter. I mean, I didn't understand it, and it seemed kind of boring. The fact that it's this whole massive innovative industry now, I think it's just weirdly exciting. I mean, you obviously find it exciting, you work in it. But it's kind of weirdly exciting because it's all these incremental benefits that we get from it. It just blew my mind. You know, I was always disappointed because like every conference I go to back when I started, it was all like, say, the Bitcoin, the big Bitcoin in 2020, 2021, whatever. 2021 was like the first year that the Bitcoin magazine conference really put some emphasis. It was actually, this was the Miami year, I think, or 2020. 2020, yeah. Yeah. It was the first year I went where they actually had some mining focus, and it was finally it was like, guys, like miners are actually the backbone of the whole system. So it's about time you start giving us a voice, like everybody in the industry, a lot of people find it really boring. Like the coding, call it the merchants, you know, not so much interested. Just like the miners, we don't give a shit about your merchant trade stuff. Like we just care about energy systems and stuff. So I just think it's great because you have this industrial dynamic, like people like me, that's all we care about. And then you got the merchant code, like development, you know, software dynamic around Bitcoin and the economic, you know, all the people interested in the economics too.
The Bitboy Crypto Podcast
"6.25" Discussed on The Bitboy Crypto Podcast
"Morgan Stanley says the bear market is over and they have three strong data points saying that crypto spring is here and now's the time to load up on your bags. But what does crypto spring mean, folks, okay, we're gonna break it down here. Basically, folks, it means that halving is near and they're strong believers in the four year cycle being the strongest indicator for what Bitcoin's price is going to do. And they break things down into four seasons, just like the four year cycle, spring, winter, summer, fall. So what do they all mean? And now is spring. Well, what does it mean? You don't plant plants in the fall. You don't plant plants in the middle of summer, nor do you do it in the dead of winter. You want to load up the seeds into the dirt right around the spring. And now they're saying this is the crypto spring, so you need to plant those seeds and start loading up your bag. This is all coming from their analyst, Denny Galindo, and I'm going to read a quote from him real quick here. Based on current data, signs indicate that crypto winter may be in the past and that crypto spring is likely on the horizon. Now this doesn't just apply to Bitcoin either, folks. Alts are pumping as well. Just look at what Chainlink was doing today. Chainlink is over 10%, but a lot of people are saying, well, Chainlink's up. I don't want to buy the wick. You know, I typically don't like buying tokens when they're up in double digits. So what's the next coin that's going to have a wick so I can get in before the wick? Well, Chainlink's main value prop is, of course, it's an oracle, but they're also bridging the gap for real world assets. There's another real world asset play that's a smaller market cap. It's a lower coin market cap rank. It's coming in about 20%, 25% of the value, so only coming in about a fourth of the value. I'm talking about quant, folks, QNT. Quant is also helping bridge the gap between the blockchain and real world assets. And so if you want to maybe try to find the next link, I like crypto quant, I like quant. I also like crypto quant, the platform. I like quant. So maybe that's one you could maybe check out, but again, do your own research, folks. So first data point, we have the seasons, now is the spring. The second data point is the bear market, folks, and he looks at the average time of how long the bear market lasts, and there's three since 2012, and he's pointing them out. Well, I started doing a more in-depth analysis here. We topped out 2017. You folks probably remember December 2017. Well, it bottomed out right around a year later. It was 366 days later, 365 days in a year, so it was literally a year and a day. Well, let's fast forward to 2021. Is it going to be similar? It will shock you, okay? November, we top out. We end up bottoming out 364 days later, so we went from a year and a day to a year and minus a day. And then, so the crypto winner is really largely playing in line with what we're seeing so far. We had the collapses of the exchange last year. I said this is the bottom. I called it. I tweeted it out. And now, it looks like, guys, now that we're about 12 months in the future, was $16K the bottom? It's looking more and more likely, okay? So now, let's go to the third and final point here. The last point is the halving event, okay? I'm going to read another quote here from Danny. Historically, most of Bitcoin's games come directly after a halving event that occurs every four years. Hey, technically, it's three years and 10 months, but okay, we'll let Danny slide on this one. Back to the quote. Estimates vary, but history indicates that the next halving event could occur sometime in April 2024. He reiterated, signs indicate that crypto winner, Bitcoin's cyclical bear market decline, may be in the past. So the final point is it's the halving. I agree this is still the strongest indicator for where Bitcoin's price is going to go. The second strongest indicator is the printing machine. They like to print the machine that makes all the little green rectangles, so that'd probably be No. 2. But still, the halving is going to be the strongest event. What is the halving? In case you don't know, every three years and 10 months, the Bitcoin reward gets cut in half. This is what the miners are paid to secure the network, and we're going to go from 6.25 and approximately in April of next year, this could fluctuate a little bit, we're going to go from 6.25 to 3.125 rewards. So it's going to be the amount of Bitcoin hitting the blockchain every 10 minutes. So we're going from 6 to 3, and so the reward is going to be cut in half. That is going to make that Bitcoin a little bit more expensive immediately. It's twice as expensive, but a lot of people are going to cut the machines off. So that Bitcoin is going to get more expensive to mine. Historically, when this happens, Bitcoin's price goes up. And, folks, I just want to say you coincide this Morgan Stanley report with the ETF news that we're seeing. We're seeing it from BlackRock. We're seeing it from Vanguard. We're seeing it from the largest institutional players in the industry. They're all saying Bitcoin is the future, and Bitcoin is more and more looking like, hey, a safety quality asset. That is a large departure from what we saw five years ago from these big bankers, 10 years ago even. But let me warn you, I don't expect the ride to be smooth. In fact, it's going to be bumpy. This is going to be a very bumpy ride as we reach $69K again. I do think we'll, you know, I'm putting an approximate timeline around 14 months. I think we set in a new all-time high. And then the new all-time high probably four or five months after that. So we're setting up a bumpy ride. They don't want the ride to be smooth. They want the ride to be bumpy. They want to shake you out of the Bitcoin, okay? Do not sell your Bitcoin to BlackRock at $25K. Do not sell your Bitcoin to Morgan Stanley at $24K, okay? I'm warning you. They want to shake out the weak hands. They want to shake out all the weak players. They don't want you to believe in Bitcoin. They want you to be uncertain. They want to increase that FUD. And so while they're buying, I'm going to be buying, folks. I'll slow down my DCA as the price starts to increase and increase, but now is not the time to dump all your holdings. Now is the time to be patient, folks. But don't take my word for it, okay? Listen to the whales. Listen to BlackRock. Listen to Morgan Stanley, okay? You don't just got to listen to Deezy at Discover Crypto, but if you do, I have a good feeling I'll see you at the top.
The Bad Crypto Podcast
"6.25" Discussed on The Bad Crypto Podcast
"Maybe. Maybe. So just so you know, so the timestamp on this episode is going to be coming out the week of October 20th. So based on that, we are right about six months away from the Bitcoin having. 180 days. If you go look at buy Bitcoin worldwide and take a look at the having, we are about 180 days away from the having date. They're saying the having date is going to be April 17th, 2024, based on right now. That's going to change a little bit. It's going to move a few days either way, depending on how long sometimes some blocks are having. But it looks like it's going to be about 29,000 blocks or 27, something like that until the having. Now, remember, whenever the 2012 having happened, Bitcoin dropped. Every 10 minutes, new Bitcoins were dropped from 50 new Bitcoins to 25 Bitcoin. 2016, it dropped again from 25 to 12.5. And then in May of 2020, it dropped from 12.5 to 6.25. Now, this one in 2024 on April 17th, and typically right about six months up until that new having, we start seeing life. So we are seeing the beginnings, most likely, of Bitcoin doing its thing. Now, it might drop a little bit before it takes off a little bit. We're going to see. But this is going to take the reward from 6.25 Bitcoin per block to 3.125 Bitcoin every block, which means, Joel, that the cost of mining these Bitcoins should increase. And the cost and the value of Bitcoin should increase because these are deflationary in nature. The cost of doing business should be much higher. So if it's going to have, then maybe we see, if the top was nearly 70,000, maybe we see 130, 140,000 as the high of this next cycle potentially. Maybe that's a good gauge. I don't know. Well, the years where the having happens is traditionally, at least what we've seen, is something to be watched. And the years where it doesn't happen, that's a have not. So you have the haves and the have nots. The havenings and the havening nots. So in 2020, you're right, COVID set off a global financial crisis, right? There was a lot of panic. And so it certainly did not help crypto. Well, we have some things that are happening. For one, we've got more adoption happening by World Financial Services. And we have the SEC saying that Bitcoin is not a security. And we have BlackRock and the other evil overlords that run the world that are looking. Grayscale is another one that they're applying for their ETFs. When that happens, that's going to give legitimacy to Bitcoin to a lot of investors with a lot of money that will go, okay, now this is being treated as an asset class that I can have confidence in investing in. And so what happens there when these ETFs finally get approved? That's going to remain to be seen because how are they going to actually have it set up? Are they going to be people going to be able to go in and buy a bunch of Bitcoin, paper Bitcoin that's not even actually Bitcoin? Because if that's the case, that could suppress the price of the overall Bitcoin because people are buying into Bitcoin that doesn't technically exist. I think that's their goal. But if you look at this, if you're BlackRock and you hold 10 trillion dollars worth of assets, bro, all of crypto is 1.1 trillion right now. BlackRock could come in and buy up all of it. Everything that's available, they could come in and buy and sort of shut down some of these things over as they become available to buy, boom, they buy them, they could shut it down. That's weird to me. But I don't think that's going to happen. I think that this bull run will probably take us up over $5 trillion total in the market cap, hopefully. And then maybe even closer to 10 trillion because we can't have one entity being able to come in and move markets so efficiently like that. ETF is going to be a little different on how they're doing that exchange trade fund and how they're going to build that out.
Crypto FITZ
"6.25" Discussed on Crypto FITZ
"Right, so what happens when these corporations do wrong? Nobody goes to jail. Good point. Very good point. So how can we even consider them to be individuals? So, I mean, it's just more nonsense. And like we were talking earlier, the regular person doesn't think about any of this. Right. They're busy. And that's why we're in the position we are. We want somebody else to take care of our money. We've got the FDIC backing up our money, right? If our banks fail, we're covered in $250,000. So it's just like, there's no accountability. So what do you think is gonna happen? It's the same thing in these big cities. If you're defunding the police, what do you think is gonna happen? Oh my gosh. It's interesting times, Jed. Let's talk about what is attractive about Bitcoin and the importance of Bitcoin. And let's talk about the limited supply. Let's dig into the metrics and the analytics of Bitcoin a little bit. Okay. When you have a new student at the Reading Bitcoin Center, Jed, Mr. Powers. Yes, sir? What is Bitcoin? Bitcoin is a digital currency that is native to the internet. Bitcoin is often referred to as digital gold. And a lot of times it's frequently categorized as a commodity, right? A commodity is a basic fungible, interchangeable, good or raw material that is widely used in commerce. In Bitcoin, we consider better than gold or better than any other currency. Because like you said, there is a limited supply. That's one of the defining features of Bitcoin or even of a commodity, is it has a scarcity. Bitcoin is capped at 21 million coins, making it inherently scarce and similar to precious metals like gold and silver or oil. But this limited supply is enforced by the protocol, the Bitcoin protocol, the blockchain. We know the inflation rate of Bitcoin. We know how much it's being inflated. I think right now it's like 1.78%. Every four years, that supply issuance gets cut in half. So right now we're at about 900 Bitcoins a day being generated. Next year in about April or May, it's gonna drop to about 450 a day. It's gonna go from 6.25, which is the issuance now of new coins per block to 3.125 in roughly April or March or May or next year. Let's strip it down for the newbies, Jed. What is a block that you're referring to? So a block is basically a block of information. So around the world here in America, all over there's these people that run miners. What they do is they mine a block. They mint a block. So they take the information that's in the mempool, hash that information. If they're lucky enough to get the block, because everybody has the same chance, if they're the one lucky enough to get the block, they get the block fees that are in the block. So for every time anybody sends a transaction, there's a fee, they get that fee, plus they get the newly minted 6.25 Bitcoin. So block is just a block of information. So it's a block of transactions that have happened. So if I send Jimmy some Bitcoin, that gets registered and goes into, we'll call it a bucket, a bucket of transactions that have happened and the miners reach into that bucket of transactions, grab a set of transactions, start organizing those into a block. So basically just putting it in there. Jimmy sent Jed a Bitcoin, Jed sent Jimmy a Bitcoin, those types of things in the block. If that miner hits the right knots, number only used once, they get the block reward for that. And that block now gets attached to the blockchain. And then everybody will start working on a new block. And this happens every 10 minutes. And that's attached forever. Forever, and it can never be changed. How many computers are part of the Bitcoin mining network would you estimate? Hundreds of thousands. Hundreds of thousands. I have five functional ones alone. So that's just me, just a regular guy. And then you've got these big companies like Riot Blockchain or any of these other companies that have massive warehouses filled with these machines that are only doing one thing, hashing and trying to hammer it away and trying to get the blocks and trying to get the rewards. Mm-hmm. What about the question about the 51% hack that you hear naysayers bring up about the network? If someone can take over 51% of that computer network, that they can hack this Bitcoin protocol? It would take, I think they say something like, I don't know, billions of dollars to counterfeit one Bitcoin. So in order to do a 51% attack, you'd have to have so much computing power that people would see what's happening. If they saw that America was, the government will say is buying all of these cards and all of these ASICs, people would know. And then they would start getting in more, buying in. I would start getting my miners back online, right? To prevent something like that. I just don't see a 51% attack in Bitcoin just ever happening. It just seems to be mathematically impossible. Can you touch on Bitcoin as a proof of work as opposed to many other coins being proof of stake? Let's see if we can break that down a little bit. Proof of stake is more like the system we have. So if you have 32 Bitcoin or something, then you're allowed to be a validator. So it's only people that have a lot of money that are able to even contribute to that to get a little bit of the staking reward. The reward for proof of work is that everybody has the equal chance to hit that block and to get that reward. Ethereum's proof of stake is not like that because you have to have a bunch of money to even get a little bit of that. So it's just different. I mean, the security is different. The mining is different. It's just, it's the system we have basically. So being the head of the Redding Bitcoin Center, I know you're a Bitcoin maxi, I am going to ask you a little bit about Ethereum since you brought it up, which started out as a proof of work and then ended up now as a proof of stake. Can you tell us the pros and cons and what your crystal ball tells you going forward about Ethereum? I don't know if there is any pros to having a proof of stake. So like I said, it's the same thing as we already have. I mean, you can only be a venture capitalist in going to startups and stuff like that if you're an accredited investor and you have a certain amount of money. So that's the same thing as Ethereum. So if I can't participate in the production of Ethereum, just as a regular person, why would I want to do that over Bitcoin when I have the same chance as everybody else? So you're going to just find like, you're going to have a bunch of centralized validators because they have the most ETH. It seems silly. It's interesting those words, centralized and decentralized. I mean, up until the last few years with this digital asset space, doesn't seem like we even used that in the vocabulary much, did we, Jed? Now there's a lot of clarity about what that means, something being centralized or decentralized. It's fascinating, isn't it? Yeah, I never thought about it until Bitcoin. Yeah, it's interesting. What about the energy usage? Have you dug into that? The fallacies, the myths, a lot of misinformation out there about Bitcoin being this ecological disaster. Right, yeah, no, we've seen that like in Texas. It's being proven right now that the Bitcoin miners are actually stabilizing the grid. So the power producers can ramp up and do a hundred percent production if they want. And then the miners are going ahead and taking all of that excess, when you start having a problem with the grid and you need more power because it's hot, well, the miners shut down, that's the agreement. We'll buy all your excess that you ever have and if you need what we're using, we shut down. And so that's what's happening. And then you've also got Exxon that on some of their rigs in the ocean, they're taking the flare gas that they would have just burned off and they're running it through machines to create energy to power boxcars that are filled with Bitcoin miners. And several companies are doing that in North Dakota, other oil companies. Right, right, it's stranded energy. Yeah, and what a great way to utilize it. Absolutely. El Salvador has the geothermal, they got all those volcanoes and all that bubbling under down in Latin America. And that's gonna be a big future for them using geothermal energy to mine Bitcoin. Yeah, something that's completely free and that's gonna come out of the ground anyway. And then they're gonna use that to mine Bitcoin for their citizens. Let's talk about the Bitcoin, Spot Bitcoin ETF world that we've heard so much about here of late. Larry Fink, the head of BlackRock was not really a Bitcoin proponent not that long ago, but boy, he's done a big pivot. And now BlackRock, which is the biggest trillions and trillions of dollar asset management company that has a big reach all over the world, of course. Now they've come to the party and have filed for a Spot Bitcoin ETF along with Fidelity, Wisdom Tree, Invesco, ARK, Charles Schwab, go down the list. When this gets approved, I was talking to another Bitcoin friend the other day and I said, I think I even asked you this question, Jed, if you had your druthers, would you want BlackRock to get approved first or do you want all of these ETF Spot Bitcoin applications to be approved at the same time? I say at the same time, that way there's no favoritism. My friend said that as well. And for Bitcoin hodlers, doesn't that bode well for the reduction in supply with the halving coming up in April, May and the residual of that for another 12 to 18 months after that. And the fact that there'll be more competition for available Bitcoin, won't that drive up the, won't that be all about the supply and demand situation? Yes, absolutely. So yeah, if you get say five companies, BlackRock, Fidelity, Vanguard, all these companies offering ETFs, then yes, it does spike the price because I mean, with BlackRock alone, they do I think 10 or 11 trillion in assets is what they hold. So just a small fraction of that going into Bitcoin is gonna spike the price.
Crypto Banter
"6.25" Discussed on Crypto Banter
"So yeah, that's Giddy. And I do want to talk about another sponsor, but I'll talk about them later. All right, let's talk about the main story. Let's get to the main story. I know we've been talking about this main story for a long time, but I see we still don't have 1,500 likes, so I guess we don't do the main story. We don't talk about the biggest seller of Bitcoin and why it's so important to talk about the big seller of Bitcoin. Or should I talk about it anyway? Scarecrow say talk about it anyway. But then they won't believe me next time I say I won't do it, and I get to 1,400 likes. They won't believe it. All right, while you guys are deciding about the likes, I do want to show you a little chart. And this little chart over here is a very, very, very interesting chart. Now, you've got to follow the logic here, because there actually is a lot of logic here. This is actually a very important story, jokes aside. So here is a chart that was created in the 1800s. And this chart shows you periods where you can actually make money. You can see it says, like, you'll make money up until 1927, but then you'll lose money up until 1931. And you can see that that is when the Great Depression happened. You can see that you will make money up until 1981, and then you won't make money until 1985. And so it goes on and on and on. Let's see where 2008 was here. So 2008 was about there. So you would have made money up until 2007, but then you would have lost money until 2012. So it's very, very, very, very accurate. In fact, it's ridiculously, scarily accurate, specifically when you think that this chart was actually made in the 1800s. Now, what this chart is saying is it is saying that if you invest in markets, you will make money up until about 2026. Then you won't make money up until about 2032, but then you will make money up until 2031. Crazy, right? So let's see how this chart over here ties into our chart, which is the halving cycle chart. The halving cycle says that we will land up making money up until about one, should we say one year? So the last halving happened 2016. So the halving happened over here. People made money in Bitcoin up until the end of 2017. The next halving is happening in 2024. And by this logic, people should make money up until the end of 2025, i.e. 2026. Let's go back to the chart over here. Here's a chart. This chart says that we will make money up until 2026. That's almost ridiculous to think that here is a chart that was created in the 1800s. Here it is. And in the 1800s, it predicted that we would make money up until 2026. Holy shit. Okay. You could say it's a coincidence, but I don't know if it is a coincidence. I think that there's something in these charts. I also think that they're standing in the halving cycle, in a four-year cycle. And now we are just 206 days away from the halving. And we know that in the period between now and the halving, what you can see is that you're going to get a slight cell pressure. So you had a slight cell pressure over here before the halving. You had a slight cell pressure over here before the halving. And you may get a slight cell pressure over here before the halving. I think I've worked out what the selling is. And I think I'm going to show you now what the selling is and how much selling there's actually going to be. Because there's actually a huge seller in the market. This seller actually owns about 10% of all the Bitcoin in circulation. No jokes. This seller is a group of people. It's not one seller. It's a group of people that own 10% Get this right. 10% of every single Bitcoin in circulation. This seller owns 1.8 million Bitcoin. And they are selling. In fact, not only are they selling, but they're actually selling pretty aggressively. I'll show you. So here is, let me just sign in here quickly. So here is the seller. Let me quickly go. Here is the seller. This is the seller sending tokens to exchanges. You can see that the seller is selling tokens to exchanges. And the seller is actually miners, Bitcoin miners. What we're seeing now is we are seeing aggressive, aggressive, aggressive selling by the Bitcoin miners. So should we worry? Because miners have actually been quite good investors traditionally. Should we worry or is this just a nothing burger? Well, I'll tell you. If you're going to worry, you've got to ask yourself, do they know something that you don't know? Now, what do miners know? Well, what we do know about mining is that, for one, the hash rate, which is the difficulty, how difficult it is to mine Bitcoin is now obviously at all-time highs. So this is the hash rate. This is the amount of computing power that you actually need to mine Bitcoin. And you can see that the hash rate is actually right now at an all-time high. So that's maybe one reason why miners are leaving. Another reason why miners are leaving is because energy costs have gone up. And if energy costs have gone up, then the cost of mining Bitcoin has actually gone up. And maybe that's not viable. And so what they're doing is the miners are basically saying, look, we've got to sell our Bitcoin. And as you can see, the miners earn right now 1.829 million Bitcoin, which is 10% of all the Bitcoin in circulation. It's a massive, massive, massive number. So why the hell are they selling? Is mining getting too difficult? Is it getting too expensive? Or is it because of the halving? I'm going to show you why it is because of the halving. So what is the halving? You all know what the halving is. The halving is where we halve the Bitcoin reward that miners earn for mining a single Bitcoin. That means that if today the miners earn 6.25 Bitcoin every time they mine a block, when the halving happens, they're going to earn half of 6.25, which is 3.125 Bitcoin for every block. And that block reward is going to continue to grow for the next four years. So up until now, for the last two and a half years, sorry, three and a half years, the miners have been earning 6.25 Bitcoin for every Bitcoin block mined. Before that, they were earning 12 and a half. Before that, they were earning 25. Before that, they were earning 50. Now we're going to halve again. And in 202 days exactly, well, not exactly, because 200 days, because we don't know exactly when the block will fall. This is taking the average of the number of blocks. In 200 days, the miner's reward is going to halve to 6.25, from 6.25 to 3.125 Bitcoin. What does it actually mean? I'll tell you what it means. It means that if you're a miner and you want to produce the same amount of revenue, not Bitcoin, but the same amount of revenue, assuming that the Bitcoin price stays the same, you're going to need to double your mining power, which means you're going to need to double the amount of mining equipment that you have. So if you're a Bitcoin miner and today you're making a million dollars mining Bitcoin, and we assume that the Bitcoin price remains the same, in order to continue making a million dollars worth of Bitcoin, you're going to need to double your hash power. You're going to need to double the amount of miners that you've got in your mining farm, double the amount of machines. How do you do that? Well, you need to buy more machines. How do you buy more machines? Well, you have to prepare. You have to sell Bitcoin that you've earned. You have to take the Bitcoin that you've sold, and you have to invest that Bitcoin into new mining machines so that in 200 days when the Bitcoin halving happens and you start earning half the rewards in Bitcoin, you're still making the dollar value under the assumption that the Bitcoin price stays the same. So let's just, again, just for those people who are a little bit lost, assuming that you mine one Bitcoin, you get a reward of 6.25. You take the Bitcoin price today, which is $26,000 times 6.25, you get a number. So what's the number, 6.25? Let's just get it. Let's make it quite accurate. So calculator. So you say 6.25 times 26,600 equals $166,000 for mining one Bitcoin block. But if the Bitcoin price stays the same, the block reward is going to halve, which means you're going to have to mine two blocks to get the same reward. How do you do that? Well, you've got to double your machines. In order to double your machines, what do you need to do? You need to sell Bitcoin and start investing in this infrastructure play right now. What does that cause the Bitcoin price to do? Well, here you can see that about a year before the halving, they start to invest in the machinery, and that's why you start getting this dip about a year or just under a year, eight months before the halving. You start seeing the miners actually start selling their Bitcoin, slightly pushing the price down because they need to take the Bitcoin and invest it in new hardware, new machinery, new cooling systems, and whatever else. Why? So when the halving happens and they start earning less actual Bitcoin for every block mined, if the price of Bitcoin doesn't go up, they actually start making the same amount of money. A lot of these mining stocks are exactly that. They are listed companies on the stock market. And what you know when you're a listed company on the stock market is that if you want the market not to punish you, you have to keep your revenue higher than the previous period. If you're a Bitcoin miner, how do you keep your revenue higher than the previous period in a period where right now the Bitcoin price is actually staying slightly more stable? The only way to do it is to invest in more machinery and to double the amount of Bitcoin that you can actually mine and hope that the Bitcoin price either stays the same or goes up. And that is how you're going to make money. And because these Bitcoin miners are, I mean, let's just have a look at these mining stocks. Here's Marathon. You can see that Marathon's had, it's had a hell of a year. In fact, if you look at it here, Marathon's actually up 100, still today it's 150% up. It was about 500% up. And if the Bitcoin price goes up, it will be about 500% up again. So because a lot of these miners are actually listed companies on the stock exchange, what happens is they're going to start, they're going to want to keep their earnings up. To keep their earnings up, they need to mine more Bitcoin. To mine more Bitcoin, they need to have more miners. To have more miners and to invest in the infrastructure, they need to sell Bitcoin today ahead of the halving to do it. That is the only, that is the natural. And so that is why you shouldn't worry when you see the price slightly dropping in the next couple of days, months, weeks, because you know that the pressure is coming from the miners and the miners are forced sellers. And the reason why they're forced sellers is because they need it, they need the money to invest in infrastructure so that when the halving happens, they can double their capacity. That is it. That's the analysis that I did. I think I stumbled onto something this morning with the research team when we were actually researching all of this. And I think we cracked the code as to why the miners are actually starting to sell. So Grace, if you remember, you heard it here first on this channel first. And in fact, if you did actually want to hear it first, you could have just gone on to Banter Bubbles, clicked on research call and joined our research call this morning. And you would have heard it first, first, first before the people on the show actually heard it first.
Daily Crypto Report
A highlight from "SEC Chair Gary Gensler reiterates tough stance on crypto" Sep 14, 2023
"It's 8 a .m. Eastern, September the 14th, and this is your daily crypto report. Bitcoin is up slightly at $26 ,496, ETH is up slightly at $1 ,625, and Binance Coin is up slightly at $212. SEC Chair Gary Gensler reiterated a tough stance on the crypto industry during a conference, emphasizing that much of the crypto space is non -compliant with securities laws and Gensler expressed concerns that issues in the crypto industry could affect the broader economy by eroding investor confidence. He described the crypto economy as relatively small but potentially impactful. Gensler also highlighted the prevalence of misconduct in the industry and criticized attempts to circumvent regulations, notably he didn't call for new legislation in the sector. Well, crypto services provider Paxos has been identified as the entity responsible for paying an unusually high fee of 19 .89 Bitcoin or around 500k for a Bitcoin transaction involving around just $200. The company acknowledged the error, describing it as a bug on a single transfer, and stated that it had been resolved. Paxos is in contact with the miner in an attempt to recover the funds. With crypto exchange, Hobi has rebranded internationally as HTX and is focused on expanding. The aim is to apply for more licenses in various jurisdictions over the next decade, according to Justin Sun, an advisor to the firm. HTX will serve the English -speaking user base, and the exchange has already obtained seven licenses in different countries, including Lithuania, Dubai, Australia, Argentina, and Brazil. The rebranding aims to make the name more accessible to Western users. HTX plans to involve users in the listing process by holding votes on which crypto projects to list, making it more democratic. Okbank, Thailand's second largest bank, has created a $100 million fund to invest in Web3 and AI startups. Within Web3, it will consider various tech startups, including those involved in ZK proofs and liquid staking derivatives. The fund aims to invest in over 30 startups and funds worldwide, focusing on the U .S., the EU, Israel, and AIPAC. And finally, crypto exchange OKX is aiming for long -term partnerships with sports giants McLaren and Manchester City. Their deal with McLaren is currently in four or five years, and they aim to extend it for a decade. OKX's global chief marketing officer expressed the company's commitment to forging lasting partnerships in the sports world. Well, that's all for us today. Visit us at dailycryptoreport .io for sources and links. And listen to us everywhere else you podcast under Daily Crypto Report. Hey, my name is Lo van Ruemf, and I've been working my ass off as a celebrity stylist by day and a podcast host by night. At the Low Life podcast, it's all about keeping it real. We're talking fashion, beauty to religion, sex, drugs, mental health. I mean, there's no topic off limits here, and vulnerability is mandatory. You can find my podcast, The Low Life, that's L -O, no W, everywhere and anywhere you listen to your podcasts. New episodes are out every Thursday. We'll see you then. It's pretty eerie, you know, you're in a place that no human's ever been before. This is Armchair Explorer, where the world's greatest adventurers tell their best stories from the road. And four of us were swept down the side of the mountain, and then I knew there was no way out of this thing. From the heart pounding to the inspiring and the downright insane. Find Armchair Explorer, a part of APT Podcast Studios, wherever you get your podcasts. Go and find what it is in the world that matches that worldness in yourself.
Simply Bitcoin
"6.25" Discussed on Simply Bitcoin
"The Bitcoin numbers. Is your Bitcoin and cold storage really secure? Is your seed phrase really secure? Stamped seeds do it yourself kit has everything you need to hammer your seed words into commercial grade titanium plates. Instead of just writing them on paper, don't store your generational wealth on paper. Paper is prone to water damage, fire damage. You wanna put your generational wealth on one of the strongest metals on planet earth, titanium. Your words are actually stamped into this metal plate with this hammer and these letter stamps. And once your words are in, they aren't going anywhere. No risk of the plate breaking apart and pieces falling everywhere. Titanium stamp seeds will survive nearly triple the heat produced by a house fire. They're also crush proof, waterproof, non-corrosive and time proof. All things that paper is not. Allowing you to huddle your Bitcoin with peace of mind for the long haul. Stamp your seed on stamp seed. All right guys, we made it easy for you guys. Scan the QR code right there and get yourself a titanium seed phrase storage kit. And also on another note, and I'm not really gonna cover it. It's gonna be in the meme review. Did you guys notice the new iPhones made out of titanium as well? It's almost like titanium's all the rage right now. Anyways, anyways, we're here on Clark Moody's dashboard. And of course I have one favorite number and it is the block height. TikTok, next block, Honey Badger, don't give AF. And we are currently at a block height of 807,487. The current Bitcoin price is in the 26K range, 26,360, which means the sat per dollar, AKA the Moscow time, AKA how much your fiat dollars worth, AKA how much Bitcoin you can buy for a single dollar. It's currently at 3,794 sets. The total percentage issued of Bitcoin that will ever be created is at 92.78%. The market cap in fiat terms is $513.6 billion. The Bitcoin versus gold market cap, still so much room to run in the hard money game, is at 4.03%. And the total lightning capacity, public lightning capacity, 4,743.76 BTC. And the hash rate the last 90 days is 380.7 exahashes. And the pending fees, wow, guys, I'm so glad I've added this number to the numbers read because it's gone up in the last couple of days. Is that 6.25 BTC? It was like 2.9 BTC the other day. Anyways, anyways, let's get into the numbers story for today. So usually we've been kind of playing videos for you guys, but I wanna cover some numbers here. And of course it is in regards to the title. We have another asset manager, another trillion dollar asset manager getting interested in to Bitcoin and officially applying for a spot Bitcoin ETF. So of course we're over here on Bitcoin mag breaking $1.5 trillion asset manager, Franklin Templeton has officially applied for a spot Bitcoin ETF. And we are here on Bloomberg. I'm not gonna read this article because it really doesn't say anything except for the headline and maybe for you guys that don't know who Franklin Templeton is.
The Dan Bongino Show
Did Pres. Trump Dance Around the Idea of Pardoning Jan. 6 Suspects?
"The show we try to keep our guests to a minimum so here was donald trump yesterday if you missed it on these pardons i thought this was the most important question um what he's going to do is a corrective mechanism to pardon these people involved with january 6th which is clear case of judicial overreach here and i got a lot of complaints about the answer here and this i felt was a little bit unjustified the other stuff i get i understand but this i felt was unjustified take a listen said to what he first it's short i saw yesterday 22 years another one got 18 years another one got 17 years and yet when they burned down portland and they killed people they got practically nothing by comparison in fact in many cases they got nothing when they went into minnesota when they went into minneapolis and they burned down the entire city and took over the police force and took over the whole building and then set that on fire they got almost so nothing we have two sets of justice i think whoever these people are i looked at this i was watching this and i couldn't believe it and let me tell you it's every time i do whether it's an interview or i talk to somebody this just like you're doing this is the first subject they bring in they think it's really horrible and so really unfair it was weird i got some complaints it was from people who obviously are not trump people they were various other candidates they were supporting various other candidates they were supporting um and they said that they felt that the answer was kind of squishy and i thought some of the criticism of the interview as i said before was absolutely fair but i don't think that's fair at all uh you know i know president trump on that name dropping nobody really cares a lot of people know no i'm not his best friend not his worst friend i'm his friend i know him we've had dinner together i don't want to over dramatize how close we are but i've heard him talk many times when he tells you things that he yeah he doesn't talk in like white papers here's what i'm going to do step one in day one is going to be an executive order 12 6 2 5 2 5 3 point section appendix 625 based on title 18 usc 35252 probably he doesn't do that so when
Daily Crypto Report
A highlight from "Founder of defunct Turkish crypto exchange Thodex faces life in prison." Sep 08, 2023
"It's 8am eastern September the 8th, and this is your daily crypto report. Bitcoin is down slightly at $25 ,798, ETH is down slightly at $1 ,625, and Binance Coin is down slightly at $214. The FBI says the North Korean Lazarus Group is responsible for the $41 million theft from crypto -based sports betting platform Stake .com. The Lazarus Group has been involved in several other significant virtual currency thefts this year, totaling over $200 million. The Lazarus Group is known for targeting the blockchain sector using methods like spearphishing and malicious software to steal crypto. The founder of the now -defunct Turkish crypto exchange Theodex, Farouk Fati Ozair, has been sentenced to 11 ,196 years in prison. A court in Istanbul found him guilty of various crimes, including aggravated fraud, money laundering, and leading a criminal organization. Ozair, along with his two siblings, received similar jail terms for their involvement. Theodex abruptly halted trading in 2021, causing substantial losses for over 400 ,000 users. Ozair disappeared at the time and fled to Albania, but he was later extradited to Turkey. Chainalysis estimated the losses for the exchange at $2 .5 billion. Former FTX executive Ryan Salameh has pled guilty to conspiracy charges related to unlawful political contributions and operating an unlicensed money transmitter business. He has been released on a $1 million bond. Salameh admitted to making $10 million in political contributions that he disguised as loans. As part of his plea agreement, he will surrender $1 .6 billion in assets, including two properties and a Porsche. This marks the fourth guilty plea in connection with the collapse of the crypto exchange FTX. Salameh's guilty plea implicates FTX, Alameda Research, and co -conspirators in an unlawful political influence campaign. Prosecutors revealed that over 300 political donations totaling tens of millions were made unlawfully through straw donors or corporate funds to evade contribution limits. Salameh had stated that he won't testify at former FTX CEO Sam Bankman -Friede's upcoming trial, but we'll see. And finally, Bitcoin mining and data center hosting company Riot Platforms received a record $31 million in energy credits in August by cutting its power usage by over 95 % during peak demand. This helped support the Texas energy grid during a summer heat wave. While Riot sacrificed some potential revenue from its Bitcoin mining operations, it still earned Bitcoin 333 from mining revenue in August along with 40 million, including the energy credits. Riot's energy credits significantly reduced its Bitcoin mining costs, making it one of the lowest cost producers of the industry. The company expects to expand its mining capacity further and the firm shares have risen 222 % year to date. Well, that's all for us today. Visit us at dailycryptoreport .io for sources and links and listen to us everywhere else you under podcast Daily Crypto Report. Hey, my name is LoVon Roompf and I've been working my ass off as a celebrity stylist by day and a podcast host by night at the Low Life podcast. It's all about keeping it real. We're talking fashion, beauty to religion, sex, drugs, mental health. I mean, there's no topic off limits here and vulnerability is mandatory. You can find my podcast, The Low Life, that's L -O -no -W everywhere and anywhere you listen to your podcasts. New episodes are out every Thursday. We'll see you then. It's pretty eerie, you know, you're in a place that no human's ever been before. This is Armchair Explorer, where the world's greatest adventurers tell their best stories from the road. And four of us were swept down the side of the mountain and then I knew there was no way out of this thing. From the heart pounding to the inspiring and the downright insane. Find Armchair Explorer, a part of APT Podcast Studios, wherever you get your podcasts. Go and find what it is in the world that matches that wildness in yourself.
The Café Bitcoin Podcast
"6.25" Discussed on The Café Bitcoin Podcast
"So I declined to put my hand up and ask any questions, but just wanted to share that because that was an interesting experience I just had Wednesday night. Bitcoiners are different, as we know. It's like, you know, you got the two people arguing, should the Fed raise rates, should the Fed cut rates? And then the Bitcoiners are like, the Fed shouldn't even exist. And it just kind of throws people for a loop. Ant, do you want to go ahead, Terrence? Oh, I was just going to say, are you fun at parties? Sounds fun. The meme, the meme of, you know, they don't even know that the Federal Reserve shouldn't exist. I'm in the corner while everyone else is partying. That's, that is the meme. Awesome. I was going to go to Ant. Ant, do you want to give us a quick time chain stats run through while we're early on in the show and the room is still forming here? Yeah, I can. I just pulled up time chain stats. So let's see. Current block height or the latest block height, 805,736. And the current estimated seven day moving average hash rate, 382 exahash per second. I did see there were more than 500,000 transactions in the meme pool. Now it's below, it's like 499 and change. So meme pool is nice and healthy. The fastest fee right now, 12 sats per V-byte. So, and the mining revenue in the last 24 hours, about $24 million USD. Bitcoin is up about 20% on the 200 day move percent. Change. So I said that the fastest fee was like 12 sats per V-byte. Did we just lose Ant or is it only me? I think we lost him. Okay. Am I back? You're back. Ant, you're back. So weird. Like my mic has like this time limit before I get rugged, apparently. Anyway, I was talking about the last block. In the last block, the average fee rate was 14 sats per V-byte. That block was found five minutes ago and by via BTC mining pool. It had the subsidy plus the fees. Remember we talked about 6.25. Every block is being released, right? The miners are getting 6.25 Bitcoin, but that's just the subsidy. They also get the fees. So in total, the last block yielded 6 point, yield is a bad word, then I said it again, 6.39 Bitcoin. So it's more than the 6.25. You know, you got your transaction fees in there as well. Where does the yield come from, Ant? You said yield, now you have to explain. I know. I know. There's certain words that like, you know, these shitcoiners and scammers, you know, they put in these in our I mean, obviously they start that whole system is like, let's get it straight. Like that whole system is fraudulent. Right. And has been. But but now in this in this world, it's funny to see certain words like boom, suddenly become like they take on even more import, like different meanings to a certain extent where it's like, gosh, like even saying it like where it's totally unrelated. I'm like, oh, you feel dirty even after saying the word. So it's just transaction fees. You know, Ant gets road rage driving up to a yield sign, just pissed off. That's a good one. I did not think that we see the word yield when we're driving around. But now I'm going to see that all the time, Dom. Thank you. Where does the yield come from? And when you said 12, I think you said 12 sats per V-byte would be, you know, a reasonable fee that should get you in the next box. Where is that shown in time chain stats? So at the very top, like when you very first pull up the site or the app, depending on whether you're on your phone or you're on the desktop, there's the price, right? That's the big price metric. You can click that to change your currency, by the way. Or to the right, if you're on the desktop, there's like a horizontal row of metrics on your phone. It's right below the price. This little six up display. That's what I call like the mix and match metrics section of time chain stats. You can actually build your own dashboard by changing those. You can hit those stats at the top, swap them out. It's going to bring up a little menu and you can choose your stats that you want to see.
The Café Bitcoin Podcast
"6.25" Discussed on The Café Bitcoin Podcast
"And, and all these stats that you have been rattling off here, are all of these things that you're getting from time chain stats, or are you looking at multiple sources of data here? No, I just have time chain stats in front of me right now. You can see all that, that I just said, it's all on the homepage. Awesome. Shout out time chain stats. As you can see, there is a ton of information there. I'm just scrolling through the bottom of the site myself. Yeah, I've got some pretty cool charts on there. There's a charts tab and it'll show a bunch of this stuff that you're, that you're looking at. One of the really cool charts, especially since people are like thinking about fees a lot, really on the homepage on, on like the top, you should see a donut that says fees versus rewards. And that's just tracking like versus like the previous block. Oh, it just now changed for me. The previous block. And also you can switch it to the last 144 blocks to get kind of like one day's worth of, you know, fees relative to the reward. Cause you know, we always talk about 6.25 miners are getting 6.25, but you know, it's more than that in the last block F2 pool got 6.34 because there's transaction fees as well. So whenever you come over to this donut, it's an interesting view because you can see that little green slice, which is measuring the fee relative to the, to the overall reward. You can, you can a picture of like, how big is the fee versus the reward. This is like an important metric to some people. So I would say, and that's just one cool chart. Like I would go to time chain stats and then click charts because I have a bunch of them in there to look at or just look at them on the homepage. Beautiful TC. I see you join. Good morning. I mean, this is, this is a topic I like. Um, so you asked, uh, what were the fees during the peak ordinal madness back in, uh, earlier this year, uh, the header photo on my time chain calendar, um, account I snapped and, uh, the priority fee was over 600 stats per V byte. So, uh, when we're looking at single digits or even, you know, uh, fee rates in the teens, this is a drastic, drastic reduction from the madness a few months ago. Um, the other thing that's interesting is, uh, blocked production. Terrence asked about, you know, number of transactions or the value of those transactions. And again, the, the chain doesn't really care about those things. The chain deals in amount of data and how much data can fit into a block. And one transaction is not the same as another transaction because the number of inputs and outputs and the presence or absence of other scripting or other data inside the transaction drastically changes the size of the transaction. So the sheer number of them can be quite misleading. The thing that's interesting to me is that we're basically averaging about nine minutes and 22nd blocks. The pace of the block production is really, really fast. So right now there's all this price activity. I'm sure if you dug in and Terrence, you should go cruise over to bitfeed.live, which is a more of like a single transaction oriented site where you'll be able to, you can actually, I think by default, it'll show you the size of those little squares on the screen is relative to the amount of value in Bitcoin or, or, you know, per dollar. And you can kind of see the, the sort of quantity of larger transactions against the others, but basically mempool is backed up, you know, close to 400,000 transactions because there's just ever since that ordinal madness a few months ago, there's just a steady stream of these kind of little goofy transactions that are being proliferated. And when the fees drop, that's opening the window for, you know, cheaper transacting for those people that are trying to kind of goof around on chain, as well as people that are doing serious financial transactions. So just an interesting perspective that, you know, the blocks are being produced pretty quickly, which to me just shows that the chain activity is really healthy. And as far as the amount of value, it's one of the really interesting things about Bitcoin is it doesn't matter how much Bitcoin in a transaction, the protocol really doesn't care. They just care about what fee rate you're paying and how much data is in your respective transaction.
The Crypto Conversation
"6.25" Discussed on The Crypto Conversation
"Hi everyone, Andy Pickering here, I'm your host, and welcome to the Crypto Conversation, a Brave New Coin podcast where we talk to the people building the future in the Bitcoin, Blockchain and Cryptocurrency space. Hey folks, we have a new sponsor here at the Crypto Conversation, today's episode is brought to you by Coinsbee.com, the go-to platform for spending your crypto. With the biggest selection of brands across all gift card platforms and live in over 185 countries, Coinsbee supports the most relevant local brands for your everyday needs. They support more than 200 cryptocurrencies and offer a vast product range from gift cards and game points to mobile phone top-ups. Can't find what you're looking for? No worries. Coinsbee also offers Visa and Mastercard prepaid cards. So just go to coinsbee.com and turn your digital assets into real-world possibilities. And now it is on with the show. Welcome to the Crypto Conversation, slightly different podcast for you today. I'm just going to run through some data points related to the Bitcoin halving and of course the Bitcoin ETF stuff. So we're going to look at all of that today. So there's no guest, it's just me talking to myself. Glad to have you company. Now, if you listen to this on Apple podcasts or in Spotify as an audio podcast, you can do that. That's fine. But I do recommend if you've got time, just go along to YouTube and watch it on YouTube. You'll find the video on the Braid New Coin YouTube channel because I'm using various charts, tweets, all sorts of data points today. And yeah, if you can follow along and see what I'm talking about, that will help. But otherwise, do feel free just to listen as a normal audio podcast. Just before we do get started, let's give a warm welcome and a shout out to our new sponsor, Coinsbee. More crypto honey for your crypto money. Of course, Coinsbee, the website is coinsbee.com and there's a link in the show notes which will help you find all sorts of interesting ways to spend your crypto in rewards. All that good stuff, coinsbee.com. All right, let's get on with the show. So we begin over here at the Braid New Coin website, funnily enough. And we're going to go to the Bitcoin halving page, which is just, it's under data and charts and then go to halving. And here we are, the Bitcoin halving. Now I'm sure you know what the Bitcoin halving is, but of course, basically every four years there is a Bitcoin halving in which the block reward essentially is reduced by half. So the next Bitcoin halving is the fourth Bitcoin halving and that is when the current block reward of 6.25 Bitcoins will reduce to 3.125 Bitcoins. And of course, there is a timer, a countdown on the Brave New Coin halving page. So the countdown shows that we have 281 days essentially to go roughly to the next Bitcoin halving, which takes us through, I don't know, through the math, April, May, something like that next year. There's all sorts of price data as to where Bitcoin was at various stages of the previous halving cycle. It's not going to go through all that now, but you can have a look at that. And of course, there's this fantastic chart here as well, which is speculative, of course, but fascinating nonetheless. I should point out that the guy that put this chart together and really put all the data together for this page and works across various parts of the crypto asset data business for Brave New Coin, I'm going to have him on the podcast sometime within hopefully the next week or two, certainly within the next three weeks. I think I won't say his name because he may not sure if he wants to stay anonymous or not yet, but he did this chart. So we'll get him to explain the chart more when he comes on the show. But briefly, I can do it just briefly. You can see it's basically broken up into these four year halving cycles. So following each halving, that's a halving there, there and there, as when traditionally we've had this bull market, which is in the green. And then, of course, following the peak of the bull market, we get the dreaded crypto bear market in the pink. And then following that, we range really. This is ranging through the yellow area, but kind of broken up into these three little segments. You can call it, you know, accumulation, ranging, expansion. And that's kind of where we are at the moment. We're in the ranging slowly towards the upside as we lead up to the next halving. Anyway, we'll talk more about that later. Let's keep it moving, folks. So you're probably aware, of course, that BlackRock, largest asset manager in the world, have filed for a spot Bitcoin ETF with the SEC. SEC, of course, famously has refused all Bitcoin spot ETFs to date. But James Sefarat and Eric Belkanis, I hope I'm saying those names right, they're Bloomberg reporters essentially, but specifically ETF reporters, ETF nerds, two of the biggest ETF nerds on the planet, really. So they, of course, follow this very closely. And I thought that was interesting. So a week or two ago, beginning of August, James said, based on recent events and new information, Eric and I are officially increasing our spot Bitcoin ETF approval odds to 65 percent. That's up from 50 percent a couple of weeks ago and up from 1 percent a few months ago. So that's quite striking, I think. We're now up to 65 percent chance of approval. That is bullish, I think.
KAILASH HAZARI IAS ACADEMY /ADMINISTRATIVE CONSULTANT SERVICE (WORLDWIDE)
"6.25" Discussed on KAILASH HAZARI IAS ACADEMY /ADMINISTRATIVE CONSULTANT SERVICE (WORLDWIDE)
"Girlfriends, they put it and standing the budget facility rate. 6.5% and 6.5% respectively. The monetary policy committee and PC of the region Bank of India are in grid. The policy reported the rate debt which RBL lent some money to banks from. 6.2526 .5%. But the decisions of the committee include the budget has led to that rate, which RBI, borrowed from banks without giving collateral, has been included from 6% to 6.25%. The marginal stenting facilitate the rate at which banks can borrow additional money from RBI and the buying rate have both been digit from 6.5% to 6.75%. The MPC decided to remain focused on the withdrawal of ecommerce and to ensure that inflation remains within the target of 4% with a 2% variation. Well, supporting growth. Retail inflation in 2000 23 to 24 is expected to be at 5.3% real GDP growth expected to be four point 6.4% in 2023 to 24
Blue Collar Bitcoin Podcast
"6.25" Discussed on Blue Collar Bitcoin Podcast
"Via proof of work and mining. These miners are basically the ones that settle transactions and assemble the blockchain as you just kind of went through. So miners are the ones that are assembling and settling the transactions. And then the node network, which we've referenced, they're enforcing the rules and checking the accuracy of every single transaction that ever happened. So their insurance nodes are ensuring a couple of things that the proper amount of work was done, the physical tie, the real world energy tie was completed by minors, and that everything the miners did was totally accurate. But without that real world energy tie, this thing is just another failed attempt that decentralized immutable money. It's that real world tie that makes this thing significant. I think dovetailing in with that as well is the miners, although they do settle all the transactions, there's also this invisible hand that's at work here, which is the difficulty adjustment. So without going too deeply into the mining and all of that, in order, like some people in the traditional system, we understand that money is basically something that is made up at the Central Bank. They can do what they please. They can change the ledger at will. But in Bitcoin, every four years, this difficulty epoch happens, which is the distribution is cut in half. So every four years of distribution is cut in half, and no matter how many miners are on board, no matter how many or how few, the difficulty is changed every two weeks to make sure that the correct amount of Bitcoin is put out into circulation via the coinbase that das was talking about. So right now it's 6.25 bitcoins every ten minutes. In 2024, that will be cut in half, and every four years after that, it will be cut in half again. So it's important to understand that no matter how much energy, no matter how many miners, no matter how much work is put into this network, it algorithmically checks itself and make sure that the inflation distribution is happening exactly the way it should, over the course of every four year epoch. And I think that's a really important thing to note because back to the trusting nobody. We're not trusting anybody to distribute money Bitcoin into this network. We're trusting this algorithm to do exactly what it's been coded to do, which is distribute these things exactly on the method and on the schedule that we all know is already set in stone.
Crypto Voices
"6.25" Discussed on Crypto Voices
"But Bitcoin itself, which has the most eyes on this open-source code, has continued on, at least from an economic. Emission standpoint, exactly, pretty much exactly how satoshi has envisioned and laid out. And that's what the community of nodes continues to pursue. And that's validated here by seeing that these different epochs are continued to be 210,000 blocks apart. Or roughly every four years apart, and it's just very interesting to see how this protocol has continued to grow relatively in a stable fashion in a secure fashion and in a most importantly decentralized or distributed. Fashion. So this is the base base economic level of what we call Bitcoin. And this is very unique as well because there is no monetary resource and there's no natural resource where we know for sure. That the rate of emission of coins will be this. For sure, every 210,000 blocks based on hash rate and difficulty adjustment. Essentially, every ten minutes, new blocks being produced by miners included in those blocks are transactions, and it's just a very, very unique thing. Even with gold, where we can say and I've said this in prior videos as well, the chemical physical makeup of gold over millions of years. At the precise moment right now in 2023, is the same the same as it was a thousand years ago in the ground. I'm saying gold ounces in the ground today inside the earth's crust. Yeah, they haven't changed for probably millions of years. But we don't know, for sure. And people are talking about this. Out the gold supply will change when we start to mine asteroids. For not just gold, but other resources. And as well, even though, as I just said, the supply of gold is fixed right now in the earth's crust. We're always finding more and we always continue to have gold ounces coming out of the ground by miners by gold miners. At a rate of approximately 1.8%. Per year, which has been the case for roughly 200 years. So even with gold, something that is always viewed as scarce and precious, a precious metal. It doesn't work the way Bitcoin works. Bitcoin definitely took inspiration from gold, took inspiration from even certain things in the financial markets. It's kind of like the issuance of treasury stock. We know that a company's, of course, this can change based on board votes, but we know that a company for its latest board meeting, the latest protocol of the articles of incorporation of a company. They have a certain amount of outstanding and issued stock and then some treasury stocks stock that they could issue if they chose to in the future. Now, of course, they can always change this with board votes and all the rest. But it's kind of like that as well. Bitcoin has this unique feature where we know that, as of right now, where we have 19 point three million bitcoins issued as of I think the last day I'm shown here in March 5th, so two days ago as of this recording 19.309 million bitcoins issued and outstanding per the protocol. We know that there's going to be 1.7 more million bitcoins coming. Over the next 120 years or so. So Bitcoin has taken the cue from many industries, satoshi, really, really had a brilliant breakthrough as far as decentralized. Distributed money, very, very different from any industry. And all of this is codified. It's solidified per the protocol that each Bitcoin node runs every day and verifies transactions and blocks every ten minutes, and that miners partake in, and produce blocks every ten minutes, and thus they get that block reward, which is 6.25 bitcoins per block at the moment, as well as transaction fees. So all of these things work together in just a very, very interesting way. As I've said before, it's very nascent. We're early if you haven't understood the way that the protocol works, I encourage you to continue to do research, look into this, the economics of this are very, very interesting. And as we can see, this asymptotic sort of development of the Bitcoin supply curve, a little bit of lower, lower emission. It's not really even correct to say inflation, with Bitcoin because we know that there's only going to be 21 million bitcoins. Again, this is very different from gold, silver, any precious metal or oil or natural gas or anything. So it's not even correct to say inflation. It's just emission or the issuance of new coins. That's another key difference. We know that there's only going to be 21. Million. But and this is where I'm going to lead you with and we'll kick off the next video. It's still interesting to see how this declining rate of emission, it's still interesting, of course, to compare this to the world's reserve currency, the most dominant Fiat currency in the last 100 years, and that is the United States dollar on a market cap basis. In green. So we're going to do that in the very next video. We're going to compare the dollar value of the Bitcoin supply with the Bitcoin value of the Bitcoin supply, and we'll make some projections out. Thanks for watching, take care.
Bloomberg Radio New York
"6.25" Discussed on Bloomberg Radio New York
"Is a Bloomberg business lash. From Bloomberg's world headquarters, I'm Charlie powder. We've got stocks holding just about the highs of the day right now. Stocks on track for the best post inflation day rally in more than a decade as slower than projected price growth sparks bets that the Federal Reserve can downshift its aggressive rate hike path. Here's where we stand right now the Dow up 1027 points. That is a gain of 3.2%. S&P doing even better percentage wise it is up 176 points now up 4.7%. The NASDAQ composite index at 11,000 up 647 points, that is a gain of 6.25%. The ten year yield 3.84% with a two year yielding 4.33% spot gold up 2.6%, 1750 won the ounce and West Texas and immediate crude of 1.2%, 86, 84 barrel after earnings, rivian shares are higher as the EV maker affirms its guidance. Today we have got rivian shares. They are rallying now by 18.7%. Bumble is joining a broader rally for tech stocks, fueled by softer than expected inflation data, a bumble. That is the dating app up now by 8 and a half percent. Again, recapping stocks higher S&P up by 4.7%. I'm Charlie Palatin that is a Bloomberg business flash.
Game Scoop!
Resident Evil Village Review
"Resident evil village. I like it. i'm i'm still in the castle. I have dealt with two of the vampire daughters about where that's about where i am right now. Sam how about you. I am between you and then because i passed that in about to leave the castle. Tina's the Furthest yeah apparently. I have a very important that have already giving sam that i need you. Damon leave the castle. Make sure before you leave when you're done go everywhere and make sure all your rooms or blue and get the treasure because you will not be able to come back and i left some treasure behind thinking that i would be able to in my leisure wander around and find that stuff but no so became just game see to just accept the fourth wall break and look you once you leave here. You're knocking coming back ever for a long time. It's hot and these eh. Do that for big boss battles like this is the point of no return but not individual chapters sandwiches relevant to your interest. I've actually looked. And i haven't found a good guide for turning the rooms blue then making sure you find these items so funny. That is the the the thing. I pitched at our guides. I was like just help people on turn the rooms. Yeah and that's so true so we're or we're actually doing it. I think it's gonna be up today but it's really funny because there are things that you need to do to do that. Which you can't figure out when you're in there like i figure out like break all the bases you open all the drawers. That's the easy stuff. But these darn crystals you can shut off the walls an example and there's other too and there's there's a big treasurer in the dungeon of the castle. It's totally optional. The you can go down and get a lot of enemies to get there and so forth.
NewsRadio KFBK
"6.25" Discussed on NewsRadio KFBK
"Years of age or all. Older can schedule an appointment. But beginning next week, school faculty can begin receiving their first dose, Nelson says. Sac State is also utilizing its nursing program to provide students some real world experience. Congresswoman Doris Matsui says clinics like the one at SAC State will help people get vaccinated more quickly, but it will still take time. It's not gonna be overnight. But this is February. I was saved by about March April, Things are gonna be hunting a bit more like blood news. 93.1 kfbk Some good news. California's 14 Day covert positivity rate is down more than a full percentage point in the last week to 4.2%. Health officials say the number has fallen from a peak of 14% on January 8th. There were nearly 5700 new cases Co. Of covert reported across the state Monday, and that's down from the more than 80,000 cases reported a month ago on January 15th hospitalizations and ICU admissions are also falling rapidly. Governor Gavin Newsom says the state is administered more than 6.25 million vaccines. There's been another coyote attack today in a Northern California community. KFBK is Michael Urie has the story. The coyote bit a child in Morocco this morning around the 30 police said The child was walking with a parent when the coyote attacked and bit the child without warning. The parent fought back and the animal took off. The child's condition has not been disclosed, and it's unclear whether the coyote is the same animal responsible for at least three other attacks in the same neighborhood. In the Contra Costa County town since last summer. The best defense against coyotes is to make loud noises and if that doesn't work, throw rocks at the animal. Michael Urie News 93.1 KFBK. It's 6 33 on the kfbk. Afternoon news with Kitty O'Neil. All right, Joe Michaels. Thank you and the phrase as a California and it was trending on Twitter this afternoon alongside headlines of Power outages. Cape Kay's Jetson Raider explains its power outages were not happening in California, California was trending alongside a tweet that resurface from Republican Senator Ted Cruz on August 1920 20 in the height of California's wildfire season, He criticized California's inability to keep the lights on in the midst of natural disasters. Saying quote California is now unable to perform even basic functions of civilization like having reliable electricity. His tweet is receiving backlash after being called hypocritical not only by people from California but also people from Texas to other Texas Republicans tweeted similar statements, all of which are getting labeled as ironic as Texas enters into another day of rolling blackouts. Jensen Raider News 93.1 KFBK And beyond that, as you just heard, Californians are being asked to conserve energy so the gas could be sent to Texas. So It's all very interesting where we have a pole going. Are you going to conserve to try to help us some thoughts on this? It's pound to 50 on your smartphone. You can say open mic and we'll get to this. So when about 15 minutes or so. Right now. This hour's top national stories on news 93.1 kfbk..
WBZ NewsRadio 1030
"6.25" Discussed on WBZ NewsRadio 1030
"To an end by afternoon. Then blustery, though, and turning colder as we head into Saturday night temperatures near 30 downtown, colder in the suburbs and windy chill. You're feeling day on Sunday and make it the 40 or so, but real feels on Sunday in the twenties and thirties. Closed door meeting scheduled tomorrow for the march through in City Council. Coming in the wake of police chief Jo Sullivan's retirement, The council will be discussing the independent audit of the Police Department. That executive session tomorrow afternoon will be held via zoom. Bruins play their season opener this evening. Some fans, though, aren't going to be able to watch the game when the puck drops for the Bruins season opener against the New Jersey Devils Tonight. Bruins fans who are accustomed to watching the bees on YouTube TV will be in the penalty box. They won't be able to see the black and gold begin their quest for the Stanley Cup. YouTube drop ness in the station that carries Bruins games from the streaming service last October, and Nessen has been unable to work out a new agreement with YouTube TV. Lesson that YouTube TV both say they're open to negotiating a new agreement, but so far they've been unable to come to terms. So for now, these fans find themselves iced out. Mike Macklin WBZ Boston's news radio. Retail employees in Massachusetts who work New Year's Day will be the last to get paid time and a half for the reference on the holiday. If Governor Baker signs off on a piece of that $626 million economic development bill that's on his test. The bill would add the first of the year as well as Columbus Day and Veterans Day to a list of holidays for which premium pay will be phased out. Change is rooted in a deal that was struck by lawmakers in 2018 with retailers and small business groups that resulted in a ballot question, which would reduce the state sales tax from 6.25% to 5% being withdrawn. The addition of the three holidays to gradually phase out of premium pay on Sundays and holidays, was put into the economic development bill that was passed last week. The governor's still reviewing the bill and has the power to veto individual section should he disapprove. On his way out the door, Secretary of State Mike Pompeo continuing to make some waves. Secretary of state Pompeo has now drawn the ire of Bangladesh after claiming that Al Qaeda had carried out attacks there. In response, the Bangladesh Foreign Ministry said there is no evidence of any presence of Al Qaeda in the country and that it maintains a zero tolerance policy against all forms of terrorism and extremism. I'm Bill's in for well. He ran for president but didn't make the cut. Now he's shooting for the mayor's job in New York, and your Yang makes it official city is overdue for Boldin rational leadership that addresses homelessness, land use public health, climate change and more. The former Democratic presidential candidate has officially announced his campaign to become the mayor of New York City. Dozens have filed paperwork for the mayor's race, including several with tech and finance backgrounds. Gang at 46 years old, has never held elected office and launched his first campaign when he ran for the 2020 Democratic presidential nomination. That Piper CBS News New York to 38 off the Wall Street we go. Andrew today is at Bloomberg, not the biggest gains of the year or ever on Wall Street. But we do have games today. That's good. We have gains and it's enough for a record for the Dow reports that President elect Biden said to unveil this evening. The massive $2 trillion plan for pandemic financial relief is helping stoke gains with today's shockingly bad reading of jobs. The biggest spike in new jobless claims last week since March on Lee helping underscore the need for a big relief plan Now up 61, NASDAQ up 35 S and P up three There are close to 150 million Amazon Prime customers in the U. S company doesn't give exact figures, but some have tried to quit prime say that's a much harder process than signing up for it. Group of Public interest advocates, led by Public Citizen is asking the Federal Trade Commission to investigate the steps required to cancel prime which it says quote are designed to unfairly and deceptively undermine the will of the consumer. Andro day. Bloomberg Business on WBZ Boston's news radio. Every great debut,.
Travel with Rick Steves
Traveling To Snowdonia
"Let's start with a peak at the natural appeal of the largest national park. In wales snowdonia the highest peak and wales in fact the highest peak in england and wales is called snowden sits in the heart of the snowdonia region and in one of britain's first national parks these welsh islands offer outdoor adventures gorgeous backdrop and draw countless tourists each year. Well skied martin. The land of its is here to help us make the most of our time in snowdonia martin. Thanks for being here. Thank you for having me there. So i've been to your home. Snowden is right in the backyard you grew up there in northern wales snowden in snowdonia national park mean to you. It's a place. I tend to walk quite a lot. It's just a huge and beautiful area. When i say huge. It's massive eight hundred and twenty seven square miles but you don't see that many people in it feels massive because it's it's windy it stark. It's pristine yeah. Small road not allowed to crowds. How tall is mount snowden. It's the massive height of three thousand six hundred fifty feet above sea level at its peak but because it rises more or less out of the sea. Yeah it has the aspect of bigness about it. It's so interesting because here on the west coast of the united states. Three thousand five hundred feet. It's like this is sort of a medium mountain pass for britain. That's a big peak. That's you know. Ben davis is the highest one in britain and there are few mountains over four thousand of the snowdonia national park. You have all of wales peaks over three thousand feet high and on. I think there's only one pecan english over three thousand okay. And this is the north of wales in. I've traveled on wheels. A fair bid. I just if you got limited time. I would recommend north. The peaks only Less than four thousand feet but didn't The british Climbers have mount everest. Actually practice in the snowden area. They practiced in that. Nobody had ever used oxygen on a mountain before. And so they had a stroll round be had Two systems an open and closed. And they thought oh. The closed system is much better. But what they didn't realize goes onto everest the vows and clo- system froze so the luckily they had a couple of open systems with them but they had some rugged enough areas in north wales where thought they could have some practice there. And you do get to some mountain. they're not resorts alert. Sort of hiking centers or something there. There's some beautiful towns. There's town called. Beth goulart galaxy. Guess who described beth killer it's a mountainous area and therefore towns villages. They nestle in the valleys. They don't sit on tops of hills and bathe galax which means ballots grave is useful in a little bowl with rivers running through it stone building. Oh everything is built on. Everything is built stone bridges over the babbling drone bridges and of course slate roofs because wales used to be the slate production center of the world at one time that right so when we think about going to north wales as a visitor and we want to do some hikes. What advice would you give for enjoying the nature of snowden national park and bringing up some calories at the same time you can hike all levels. Mt snowden itself with acid in welsh is an attraction. And there's a railway that runs up if you don't wanna walk for three hours just take the train and this is kind of a cute little tourist steam train. Yeah it goes from some berries up to the top and that's a family out it is. It gets crowded. Some of what i was going to say is that snowden is like a magnet people have heard people know that so that eight hundred and twenty seven square. Miles will get away from snowden. You'll see fewer and fewer and people which is a lovely thing. It is very empty area. It is and if you wanted to have some rugged memory you could hike it without the steam train. Take what five hours or so three hundred. Well five hours up and down if you if you know. It's a nice day. It's a lovely day. Beware say this flat up. Beware of times of year like easter when it's considerably cooler the top dress. Well okay
Liberty Talk FM
"6.25" Discussed on Liberty Talk FM
"Author at a big window. Look, any investment is risky. You know, if you're gonna put your money at risk, you know there's a chance you could lose it and you could lose it all. You could lose it all on Bitcoin. It could zero it could go down dramatically. Whether it would go to zero season seems unlikely to go to zero. It could possible though, right? It's within the realm of possibility. It's just sort of on the Really difficulty ever happen. It would take like a supernova or a worldwide electromagnetic pulse. It just wiped out every single computer to make it go to zero. But that would just mean you couldn't use it. At the moment. Well, it went pro. I presume such a thing Would you know, white ball what The hard drives are destroying this stuff. Oh, except a lot of them are probably gonna be solid state, So yeah, wouldn't get them with as long as you can power the computers back up and get the Internet back online. Bitcoin will still be there and you can restore the entire Bitcoin network from just 11 surviving note. Now you want to have more than one because that person could edit the Blockchain and then true, but but in theory, one person could rebuild the entire Bitcoin network. If the date is still out there, Power comes back on Internet comes back. The coins. Back s so it's pretty hard to kill, which is one of the reasons why it's worth something because the you know exists. It's decentralized. It's in thousands of locations all around the planet that the block chain, which is the the decentralized ledger that is duplicated all around the planet, and you have to kill the Internet in order to kill Bitcoin. But then, as soon as somebody puts it, an intranet on or, you know, a local area network or or whatever, But we've seen stories of people using ham radios to You know, transmit Bitcoin from one person to another is extremely complicated. But in theory, I could do the same thing. You just hand you my private Keyes and the next your Bitcoin. So we're sharing a story from where was it again? The feeling the motley fool, Motley fool, and this guy is saying that Oh, well, he's got some objections to Bitcoin, and one of them is that the programmers could and this is a good objection. And so we need to address it. Theology action of Well what if the programmers raise the limit? Because right now, the limits of 21 million Bitcoin. There's about 18.5 million of them that have already been mind into existence. Every 10 minutes, There's another 6.25. That our mind into existence in a couple few years there is going to that number is going to cut in half to t 3.1 to 5 and then a few years later would cut in half again, and it'll cut in half so over time, then the amount of coins that are released every 10 minutes or so is half done happen have to sew. It goes down and down and down and down. And so that's why I say it's going to take from here until 100 years from now until we finally get to the point where it runs out. Whatever it gets to its maximum, let it get to that point because you think they're gonna raise the number because by then they're going to be getting more from transaction fees, and they are from mining. And I just don't believe they're trying to move it to a proof of steak network. Or they will just raise the cap so then continue getting some sort of mining reward. I don't even think it's gonna last that long. I mean, if Bitcoin makes it another 100 years, I mean that I see that happening in like 15 to 20 years. Once he gets to light one Bitcoin as a reward, it just won't be profitable for them. Like, Hey, we have to do something to get more Bitcoin to make this worth it to us, or we're going to stop money. You think Bitcoin will still be on top in 15 years? I mean, that's like saying the Model T That's like saying the Model T is going to still be the number one car, you know, three generations later or whatever, and I don't know. I'm not predicting that's what's going to happen, But if that, could it, That's how things play out. I fully expect the miners to demand the cap increase so that they can continue getting a mining reward. Well, the miners still get fees even if there's not a mining with negligible compared to the 6.25 Bitcoin they received as the reward. Yeah, There's no doubt about these will have to either go up substantially. And they probably will, because Mike is really Hey, No, We're just not processing your stuff because it's not worth it to us anymore. So you have to pay this third of a Bitcoin fee. If you want us to process this transaction at all. Or they'll just raise the cap. Well, here's the thing. There's also this thing called a chain split. That can happen if programmers say we're going to double Let's say they double the cap from 21 Million to 42 Million. Oh, God, that would be devastating if they do something like that, then The people get to decide the the user's the miners. They get to decide whether they want to go with that version of Bitcoin or keep on the original path. Sure, which is how we do it with the clean cash and Bitcoin SV and and a bunch of others. So that's that's where we would see you being interesting question. Where would the marketplace want to go? If indeed, that question comes comes comes about so far. That hasn't happened, but he is right. That is a legitimate concern. There's also minimal utility..
Giant Bombcast
Will we pay for online gameplay in the next generation?
"Do you think we still pay for playstation like do you think we still pay for online game play next generation or do you think that Microsoft clearly has been trying to move in the direction of rolling up into one service. Yeah so that but as they do that I think they get closer to where they can. Maybe just cross that one off the list of of benefits and just say hey. Everyone can can do this. Everyone can play Games online at sure. Yes privileges send for all. Yeah yeah if they reached the volume move game pass subscriptions that. It's like all right. Maybe the numbers lineup. Now that we can afford to do this. But also you've got another differentiator from the competition. Yeah as you get more and more games that are going to be online. Only server required Free to play a constant updates like all this other stuff like so many games are quote unquote online games. That having draw these weird boxes around. It's like well you know you can see other players in the world but you can't match with them unless you're paying like just weird cases like that and what do you do for free to play. What do you like? It would be an easier conversation. I think if they eliminate if they both eliminated that from the feature set for their paid tear possible. It's a lot of revenue to give up the also especially once you start especially in Microsoft's case where you're putting these games on. Pc you're now saying well if you're playing on pc you can just play now but if you're planning on. Xbox you have to have this additional tier of subscription to do this right now. That's because they know they can't get away with that on the like that but also what I'm saying like increasingly the shouldn't get away with. I'm not I'm not making a moral judgment just talking about what I think. A corporation is likely to do right and I just think of it as as this stuff converges like what already seemed like a pretty ludicrous concept. Now you're just like the wise it this way so I wonder if that's something that's going to going to change this time. Awesomely and does do we end up in a situation where one of them makes that change and the other one doesn't and is that a weird differentiator that people like walt like. Why do I have to continue to pay to play online here? Which is how the PS three in three sixty was but then the online experience ended up. Sometimes Janki to me. The thing seems to be doing is just to make the value proposition of game pass so overwhelming right. That who wouldn't want this is where they're trying to get to and then at that point if it's just rolled into that service then fine. I think it's a better play for the the people that are not decided about what consoles they would get if they eliminate that I can make that available for everyone. I could see
Beyond!
PS5 News and Predictions
"Weird as that sort sort of thing was because again they weren't promoting this APS five launch. reveal or anything like that. We got the logo but we did also get a small graphic that said playstation five hardware features and estranged is almost all these horror features were first introduced to us via playstation blog posts or via wired interviews or things of that nature. This is the first time place. Kinda like put these things out there and I wanted to run down them and we can go a little bit more into detail. But these are the official confirmed hardware features that they're really banking on so one is three D audio sound. Another haptic slash adaptive triggers for the new dual shock. Whatever it may be called? An ultra high-speed st allstate. Drive that will essentially be helping. Empower Your Games hardware based Ray tracing so ray. Tracing built into the system as well as ultra HD BLU ray which will finally give it comparability which the PS four pro does not have with a one act so you will be able to play just A. We aren't capable yeah. I didn't realize that when I bought a piece for pro and my girlfriend I bought like four four. Hd Lures with Kelly. Just wash in terms of being like a dedicated Media Player that ps four definitely took a step to the side from previous playstations and in terms of having that front front and center. I WANNA say they dropped the ball. But it's definitely been like there was a while ago you couldn't run certain files off a USB stick everyone's parents-in-law during the playstation three era head of playstation three. Because it was the media thing it was on the affordable media's same with two synonymous with. DVD's yeah so so of those features and there's one big one that I want to tack onto there that we can talk a little bit because it's a bit undefined but of those hardware features like what grabs your attention. What do you what excites you about the system? What do you feel like you need to hear more about to really get the scope up? I liked the haptic feedback thing because I feel like The controllers from what we've seen through official sources on the Xbox side and leaks on the playstation side. Feel mostly iterative like they feel like the the five dual shock five. Whatever we're calling it right now just kind of looks like a like a dual four? After Christmas break like it's kind of CIANCI a little thick one of those heavy horses with short like a little Sebastian of the Thomas. The tank engine was stopped talking about horses. Horses no looks like a thick cost. Yeah we haven't releasing the back of it yet. I know you just really sat back button so those are coming out at the end of the month. Okay that comes out at the end of the month and there was a recent patent for the dual shock five that essentially implied there would be back buttons which are similar to what the xbox one elite controller has what some other pro controllers have. Yeah so if it's structurally similar to the dual talk for that Even if it's a little horse here chunkier but I do want to like dig in more the sort of bells and whistles that bells and whistles that's gimmicky that's horse. Nonsense horsing around of all these things like these are things that will matter like a higher faster. Hard drive is great Ray tracing tracing sounds cool don't understand it ultra HD. Blu Ray cool. I don't have to switch to my xbox one s three sound cool great. That's so that's so corny. That is totally like rear touchscreen. Vida stuff and I'm here for Italy. It's the kind of thing that I feel like almost like I not every game. We'll take advantage of radio but I feel like almost every game. We'll try to implement something to haptic feedback launch. Your as long as it's going to totally go away you're going to be like it'd be less the lightbulb right by media molecule release a small game three years. That is the best. Use those things you've ever had. We'll be called sky touch or it won't use the screen. It'll just be three D audio and get yourself out of the jail cell pitch black. Actually the blindfold. I'm genuinely interested in the ray tracing stuff it just because I think that that is going to be the most immediate. Oh my God this is next Gen when we when when when we see it probably taken advantage of. I've read a bunch. The pieces deep diving into what playstation five ray. Tracing could actually look like an obviously I think if they want to maintain a price point that is competitive. It is an affordable for a pissing on average salary It's not going to be as advanced to say some. PC's as can can achieve nowadays. But like I really like the idea of of of it being immediately more beautiful again being immediately mmediately beautiful then you then you could see the PS four and Li- like for me. It's just little things like Oh God you know it's like Armand decided not to the original dishonored you could see wretched odors and the vision. You couldn't see it in the council vision and I sort of like. That's the sort of thing that we can notice. And I think that's going to actually be a big selling point for me that it's just going to immediately look prettier. The technology again. The technology is like the way that the playstation and possibly implementing this kind of short circuits my brain but I. I do think that that is going to be the thing that people are going to immediately noticed right now. What was it was the first? PS Four game that you remember being like Oh it's here now because like I feel like launch stuff stuff. It's so close to pre tailend previous stuff that you're like looks nicer. But it's nothing horizon aired on. Okay okay I was going to say uncharted for before. That prop I mean there was. There was some there was some like pan over stuff in kill zone where I was like. Yeah Wow. That's that's a stunning environment Running Yup coast some of the textures in that game and being like okay. That looks really good In retrospect they they look they look good. They look fine scraping opposite. Yeah it always happens when here's sort of chasing that but yeah I'm totally with you guys on this. I think it like I would really love if there's a couple of things that just like genuinely wow out of the box. Yeah and more importantly if devs working on. Ps Four exclusives for Twenty Twenty start quietly implementing some of the stuff under the hood. That is there when we played backwards compatible games on day one and there's a giant patch with it makes immediately the last of US look even better and such. That's even that's even more interesting. If the if the leaves ghosted Sushila can look better right if that's even possible. Yeah they're very good looking leaves. You've done a great job Andrew for me personally. The ultra high-speed. SSD AGAIN A lot. All of these things are more like tech Germany. And I think when we get to the PS five reveal and the way things are going to be sold to us. We're not gonNA hear half of these things in marketing word. That's why it's hard for me to sort of explain. Yeah excited for Ray tracing because I don't really understand how it would but I know what it could potentially sue and that's the salt dry for me in the showed that in a sort of like behind closed doors demonstration and to wired and then that video leaked but essentially the the load times in the way the world will load is so dramatically. Faster her because this is a sort of custom built drive. That's going to be interacting with the Games in a different way and so that will allow they showed I think the difference from the PS four Spiderman and then spiderman running on the PS five hardware was like a six second difference from like seconds down to one point
