What is a freaks welcome back to Tales from the Crypt? It's your boy Marty been on a very overcast Thursday afternoon here in the studio for another addition to Rabbit Hole recap. What's going on Matt? I'm really excited for today's episode guys. Yeah, we just spent like 45 minutes going over the docket it we basically just had an episode of okay. But anyway, it's going to be great. Yeah before we jump into everything. We're going to shout out our sponsor first unchain Capital you freaks know all about them. They've recently released their two or three multisig volts growing on their product Suite which started with a collateralized loan product. We had Parker Lewis on a couple weeks ago on the podcast. As if you haven't checked that out go check it out and then go check out on chains volt at www.hsn.com Capital.com vaults that's www.hsn.com - Capital.com volts. Don't forget that - Freaks and we'll put a put a special ref Link in the notes as well before we jump into the topics the Bitcoin price according to the trade Bloc xbx index is five thousand two hundred seventy seven dollars in 66 cents. I believe a little It higher and we're we're last week. It's basically moon man. What block are we at? We're at five seven two one nine seven. It's a lot of blocks. A lot of blocks out of blocks we 630,000. How about how many blocks away from that Army about ninety eighty nine thousand. 88 something to what is it? What's the black-eyed again? Six? 630,000 Wow way off wait like 50. Yeah big way off on that math 58,000 blocks. Yeah, 58,000. I was off by having. Yeah. I had a fifty thousand forty thousand there by accident. That's what uh, that's what happens. When you try to do mental math. We're great at math here at the rabbit hole recap. Yeah speaking of math got a lot to talk about first topic of the week. Has to do with this cryptography satoshi's treasure was dropped this week. Not as Treasurer. His treasure is his treasure. Nobody kind of sounds like you'd he dropped his treasure his like Hardware while it had lost so she left before treasure ever became a thing, I believe but treasure like a pirate treasure. There's a there's an international treasure hunt for a million dollars worth of bitcoin. Have we confirmed the Bitcoin amount is around 200 Bitcoin. I think it's going to be around. 20 billion satoshi's 20 billion satoshi's which is which is 200 Bitcoin. Yeah, but they the address is hasn't been shown yet. They're going to that address is going to be one of the clues like the way they disclose the addresses and upcoming clue. Yes for you freaks have not heard who have not heard yet. There's again international treasure hunt for around 200 Bitcoin. It's ready player one. Yeah. It's basically Ready Player One in real life. Life here with Bitcoin 2019 with Bitcoin. So the deal is there are 400 shards of a private key that will be discussed at will mm. Nobody will put into a thousand but you only need four hundred you. Okay? So there's a thousand short. Are you sure? I'm 99% Sure. Okay. Yeah, so well thousand shards you need 400 to put together a private key which gives you access to this Bitcoin and you don't need any permission or anything then from that point you just Ascended whoever gets it gets it gets it. Yeah, so there's like all these crazy game theory things that go on at the end there when you like get when you get close to 400. So yeah, so let's jump in let's jump into that. So it's crazy. So three keys or there's only been three disclose right now three starting. So yeah, unless we're behind the game. Yeah. Let's are high five. We have all 3 shards you go bang. So yeah, it was released earlier this week Eric Meltzer and I believe he's behind the unknown. Yeah. And yeah, it's really cool. So the first 3 shards were found and somebody was able to read the the HTML CSS file via checking the index. John control. Yeah, John Cantrell of of the website. It was able to sort of Brute Force the third key. Yeah, the Hebrew Force II II II II Keys. Yeah because it was local. All the code was local but this is a short words. But yeah and But this was sort of intentional it seems right. Yeah, Eric was Eric Meltzer has on the citizen Bitcoin podcast. And at least he pitched it as it was part of the not all the clues are going to be set up this way where you go to the website and and you enter a password and then part of part of the whole thing was he was wondering if people were going to figure that out said yeah figured out and so they're trying to discern the the mental acuity of of the treasure hunters and make the game harder as it goes on depending on on that on how good the treasure hunter was so the crazy thing here is He kind of it seems like he envisions it as a reoccurring type thing. Like he wants like this is it seems like this hunt will they expected to take like they refuse to say but it seems from Context that they expected to take like a year, maybe two years Max and then they'll have another one and another one and another one and they'll at the same time. They'll have all these little Hans that will be for smaller prizes. It's not like everyone, you know has has to go for the big prize. Yeah, there's like crazy secondary markets that can be built on top of this game as well. They're gonna have like a nap and they're going to allow you to sell Keys between people and stuff like that and they'll have a leaderboard. It's very very ready ready player one asked where there's going to be a leader board of teams. We have a team out there the DPR Avengers and we plan on giving if we if we find it we win when we win when we get the Treasure we're going to give 10% to free Rose to free Ross. Yes. So we are accepting applications for team members. We're looking for wizards people that are smarter a cryptography than us and our jika geographically dispersed as well. It's important to people different parts of the world for this treasure hunt. This is so ridiculous. But this is a good thing right? This was a yeah. Awesome. I'm very excited. Yeah, so it was cool. Yeah, so they had people walking around at different parts of the country or hothead different QR codes and different part of the country refers to different parts of the world world. Yes. Yeah. So there's one here in New York in Times Square. There's one in Boston by MIT one in San Francisco, I believe so those are like all the same key, right? Yes, and then they had another batch of keys. That was in Asia. And then I think they had a batch. I was in South America. This is how Bitcoin goes viral. Can you see this catching on like in the mainstream? I think I think so, right like you don't have to be a big corner to be excited about finding, you know, a million dollars or their cash right and like you can't do this. You can never do this with any you couldn't do with Fiat if they want to do it feel to be ridiculous. Imagine trying to coordinate like all the payment providers and all the different countries and stuff be ridiculous. Yeah Victorian we've always talked about Bitcoin and a are like sort of Geocaching and dropping QR codes like and parts of the world and doing like a physical treasure hunt like that which will probably come in the future but you don't even need the AR aspect of it. You can completely completely cerebra land in a puzzle math-based and and meet some of the clues might be a are based. You don't we don't you don't even know maybe they are like they do have an app in the works. So there's there's a bunch of different possibilities here. It should be interesting to watch it play out. Now if you're a Bitcoin her is ever seen Ready Player one while you were watching that movie I if you were watching that didn't think Bitcoin enables this. Yeah. I mean, it's like ridiculous a Bitcoin wasn't included in the in the book to begin with was it written after Bitcoin was created I think so right isn't it? Like a relatively recent book? I'm not positive and I'm like pretty sure it's a relatively recent. But all I know is I like a lot. I like reading a lot of new Sci-Fi and I almost Bitcoin is kind of ruined a lot of information because if they don't incorporate Bitcoin into it, it's like I I'm realistic do you watch mr. Robot? Yeah. Yeah and you know Bitcoins Incorporated so makes more sense to me. Yeah. I've never I've never watched mr. Robot, but told I should it was like I was thinking You should definitely watch mr. Robot and especially as like a big corner, it's good really good. You can like pretend it's like fake studying. You know, what it possibly could go down. I was thinking like was like our Wikileaks conversation last week and Julian Assange. That was one of the light bulbs for me with Wikileaks how powerful it was that I would watch like action movies and drama movies and half the movie would be like Irrelevant because the plot would be you know, they find something that they have to tell the world and they're trying to tell the world but all the bad guys are stopping them. They all they had to do is drop it to WikiLeaks absolutely destroyed the plot the Bourne series completely destroyed. Yeah. You just want to just upload it to WikiLeaks. Yeah, they're not much not much new news on that front. I think he's still in the process of being extradited still London. Yeah. I'm not sure. Yes otoshi treasure DPR Avengers were looking for teammates will put the link in the show notes. If she can help us out. We're going to go hunting. I mean I did. Yeah, everyone should be going and going hunting for this thing. This should be fun and if there's a lot of traction and a lot of activity with it, then you know, they'll be a lot more of them. I imagine. Yeah, and the another thing to think of the prize is 1 million dollars right now, but depending on where the price Bitcoin it'll be locked in Bitcoin amount once at least we'll know for sure once we see the address. Yeah. Well, I think we should lock that down sooner rather than later. What the amount? Yes. Yeah. I am 99% sure. It's pre-funded. It's already funded but I you know, I haven't seen anything for myself. So imagine the fervor around this hunt if it's like the middle of a bull market. I was thinking like just if if we if things got a little bit crazy and December and that's when it kind of happens, that could be Very pretty crazy just like if we were in like a similar bullish kind of situation as 2017 while this prize was wall-to-wall people had like 300 keys or like 350 keys. I can see a whole cottage industry being birthed out of this game. That's all going to say next topic one more thing. One more thing they ask for when you if you go to the website, I think it's the toe. She treasured out XYZ. They can send you notifications like of new Clues and stuff and there's an email and a phone option. That phone option is optional. You don't have to fill that in you do not use you. Do not you don't want to give Meltzer and crew your your phone number. Yeah, or if you have a burner that you want to use for the treasure. Yeah, you you know, you can use a burner email. Yeah. Yeah. So definitely duly noted that that phone is optional. It was not clear but They now that's I think they put optional on it. I still it's worth mentioning. So the price pump the earlier in the month April 1st and 2nd people ran with that story the hours and days after that 20% jump overnight from April 1st to 2nd this week trade Bloc and queen metrics have come out and sort of disputed the popular narratives that were going around and basically prove that bitfenix was the one who led the charge and I guess coin metrics. I was it said like hit BTC. Yeah and hippie TC. So there is I believe right after the pump people were saying was three changes coinbase bitstamp and cranking cracking cracking. Maybe it turns out I think it wasn't so that we talked about on the pot. I think like they there is a Reuters article. That's what we talked about how to pronounce it Reuters Reuters the Reuters article, you know is based on some random dude in fucking England who was like one guy did it so they and One really knows anyway, you just looking at the volume numbers and the charts. Yeah, I know knows I mean I I guess the main Crux is Bitcoins were actually bought like the price. Oh, yeah, a lot of Bitcoins are bought a lot of Bitcoins are sold. And right. Now a lot of Bitcoins are being bought and a lot of Bitcoins are being sold like people get into this thing in their headwear. Oh like we're in a bear Market. Everyone is selling know like literally there's another person buying on the opposite side. It's a weird mental block thing to get around. Yeah, somebody's buying somebody's got be selling on the other hand otherwise would be at 0. Like how is that not obvious right after the fact like how did it take us like a few weeks of jumping into it. Like how how is it like not obvious entree black? Okay. I mean, I think it probably was obvious. I guess this is more of a question into how could the news gets so because all writers has to do is just publish an article with a one-line quote from some dude, you know, and in London and that's there. Amount of due diligence and work and and trade Bloc and code metrics like sat down with the data and like made some reasonable conclusions based off of all the data they have but they still even both of them like they never made a concrete but you know Reuters just runs it on the headline Bitcoin pumps because of 100 Million Dollar Trader. I saw I'm Rod was coming at Trey block for their choice of chart change the color. Yeah, because their colors were like all blue. So it was hard to yeah, it was it was a hard hard a shark to discern. It was a pretty funny to eat by Murad who has been hot this week. I talked about in the bed you tweeted about it 2019 seems to be the year of privacy a Bitcoin this week in particular. I'm going to say it Pierre pushed or I don't know if you pushed it yet. But he plans on the next major release. So the node launcher to make it a default to tour. So anybody running Pierre's no launcher will have sort of inherent privacy with their at the network level and the messaging level and then on top of that treasure came out and said they're working. So it was a Sabi Sabi and Treasurer working together and we'll Sabe and bunch of Hardware while it's a working together to make it so that you can use wasabi with your Hardware. Are wallet and make it easier to mix your you tx's yeah, so my understanding is they used the same integration that Bitcoin core recently put in. Yeah, so they will put the GitHub page in the notes and so far it's compatible or the the test. They've run with two Hardware Wiles of treasure Model T. And the cold card on Windows OS X OS X and Linux have passed their test. Just they plan on testing digital bit box Kiki Ledger Nano s and treasure one and running those through the gauntlet soon. So it looks like Wasabi will be compatible with Hardware while it's in the near future. Yeah, so this is fucking huge news. It's really really big deal explain the gravity of this to us. So before when you needed to use your Hardware wallet and you wanted to use it. Most people used the treasure UI on the web the web browser and The Ledger UI on The Ledger Live app that runs on your computer or now, even with the with the new Ledger they have the On the phone because it's got the Bluetooth. Basically when you did that you were leaking all of your transaction data is going to Ledger or going to treasure your going to their servers. So you're just telling them all of your addresses all your balances everything, you know, hopefully they're not storing that information and sharing it but we have to trust them. So the alternative has been to run electron personal server with your full node, and then connect through it. Electrum to your election personal server and use because electrum supports Hardware wallets because if you use regular electrum, then you're connecting to a random server and that random server could be logging all your shit. So this finally gives Hardware wallet owners are like a turnkey privacy focused alternative to all that because election personal server. By the way, that hottel guide has how to set up a ledger personal server you want to do that, but it's a more complicated. It set up with Wasabi. You just download it. You can you can use on any of the platforms. It's got a nice nice to you. I automatically connects through tour for you. And then if you run a full note on your computer, it automatically pulls blocks from your full node, or it can work in light note mode if you you know if you don't. If you don't want to run your own full note, so it gives you like the most private way of interacting with the hardware wallet and it's like super user-friendly fucking crazy. I love how was wasabi. Has made like you TXS selection so straightforward and how is this not existed yet. The only ones who came close was like electrum, but the labeling system in Wasabi's just it's incredible so much easier to use. It's a Mopar Adam done a great job you xy's and you TX S election something huge and something that should be at the Forefront of these wallets in my opinion. So it's great to see now with Hardware while it's you'll be able to one use Wasabi and I guess there's an added benefit is there are natural you txo selection. So so my understanding I haven't tried it with the hardware wallet yet. My understanding is so I might be wrong here. But my understanding here is that there's a you still have the traditional wasabi hot wallet for your coins because they need to be constantly signing those transactions including them in coin transactions. And then you also can interact with your Hardware while it through it so you can you basically like still are like transferring in and out of Wasabi. So it's like a new treasure bridge but via Wasabi or something like that almost. Yeah, I mean like you can interact with your Hardware wallet and there was AA B and you can interact with your coin wallet through Wasabi, and and if you want to move funds between the two then obviously you can do that at the same time. Yeah, they're pretty badass pretty badass and it's a really big deal and I think Ragnar tweet out today, like a lot of people were saying 2019 was going to be the year of lightning but it does look like shaping up to be the year of very good hardware and privacy improvements as Lightning infrastructure gets billed out. I think it's I mean it makes it ridiculously easy to use use your heart. I think one of the reasons so few people run full nodes is because you can't easily just use your Hardware while it with a full node and that changes now with this with this new rossabi update that that changes and that's that's really cool by itself and let alone all of the knock-on effects that it's going to do with more people. Using coins because there they can use their Hardware wallet right in the app. Yeah making it easier will certainly certainly incentivizes and this is something I've been thinking about a lot this week. I've been wanting to write something in the bent but just haven't felt comfortable like does in this is something I'm very interested to get your perspective on like do these improvements. Is it inherently improving Bitcoins privacy or is it just better use like Bitcoin is not inherently more private. It's just being used. Better or is the fact that a bunch of people are mixing you tx's make inherently more private you get what I'm getting up there like Bitcoin hasn't changed. Yes. Exactly. I think it makes using the Bitcoin Network for everyone more private, right? Because when you start doing widespread coin joints it just it just helps everyone. Yeah, but does it make coin any more private Could you say Yes master like a thrush? Yeah, exactly. That's why I said like a semantics argument. I've been having in my head. It's there that argument is there I think is there a threshold of mixed UT EXO's that would make Bitcoin more private. I guess that's what I'm trying to get at. Well the big thing is like if you mix in these Techniques that like samurais working on and stuff where it basically every transaction looks like a coin joint. Even if it's not a coin then you get some really interesting things when you have you know masses doing coin joints, and then the other thing is We're if they ever tried to do some kind of like Blacklist on coins. It's way harder to enforce the more transactions that have gone through it. Right like what are they going to like if you start bending because they can't just ban direct coins into exchanges. It would it would be like a couple hops so then how many hops you know, and so if everyone's using coin join and the vast majority of Bitcoin users are using coins earned on the regular then any kind of any kind of Blacklist on coin histories becomes basically the equivalent of like Banning Bitcoin self ownership in the first place, like self custody in the first place. Yeah. That's what I'm trying. Yeah, the is there what is the Threshold at which The exchanges and the on-ramps who would have the ability to block these transactions. When do they throw their arms up and say hey, there's nothing we can do about it. Well, I think either way it's like probably unenforceable because someone will accept them, you know, so yeah and it just becomes like unrealistic to have to check the full history of like any particular utx. Oh like that's ridiculous and ownerís on the Receiving party. So in a lot of ways, I think exchanges should welcome coins that have gone through coin joint because for them, you know what they don't know can hurt them. They you know, they prefer to not know it's like a bodega owner getting a five dollar bill exactly. They it reduces liability. I think part of the reason he people even talk about taint and all this stuff is because the capability is there that's what makes people think of it in the first place like if you didn't have that capability Then it'd be way less of a discussion. Yeah, it'll be interesting to watch this play out and hopefully the this Wasabi Hardware wild integration won't cite more coins and and increase the on it the anonymity set like run your own node and then connect Wasabi to your own node. If it runs on your computer, you know, you can use you can use Pierre's you know. Want to really be a power user use Pierre's power node launcher, which is going to default at or you run it on your computer. It automatically runs in prune mode. So if it needs to so it won't take up too much space. I think what it's like takes looks like less than 20 gigs and then you install the Sabi and wasabi automatically connects to that that Bitcoin node. And then if you if you run coin turns actions, not only do you help yourself because if you got those coins to like a kyc type Change then you can D-Link them from your identity. So you can help yourself going forward but you helped all bitcoiners by improving the liquidity of of coins. So join us. Where are we at? Join us. Where are we on the Wasabi and in the movie Set or how many Bitcoins have been run through it? Well last time I checked they had 26,000 on the And last time I checked they had collected about 16 bit coin worth of fees. It's like kind of cool that keep the fee address is is a static address so you can see that's how you kind of measure usage. But you have to remember that if that could be gamed you could have like 40 computers all running coins from the same person. It's true. That's why the more the merrier. Yeah more the merrier and that wouldn't surprise me at all that's going on. Exactly. That's how you would try and attack it. If you're going to try and attack it you would you know, if there's 70 participants in a coin join you try and be as many of those participants as possible. It gets really impractical the more people use it. So yeah, so when in doubt mix so let's get these these Hardware while to test it out what Wasabi implemented and start and star coin joining people. I really well the treasure T already works and I think that is like and the Coast Guard the best the treasure Chi is like the best. Entry level Hardware wallet like that. I that's the one I recommend like wholeheartedly and then cold cards like great for power users. Yeah. So those are like two huge ones. That's awesome. Speaking of Awesomeness L&D 0.60. The latest big release of L&D was released this week and it comes with static Channel backups, which I called out last week. I knew it was going to include them you weren't certain. You know, I give we got to go back to the tape are on site. Caution you have the release notes. They're highly encouraging the people upgrade. If you are running L&D nodes and this is where upgraded yeah, we're upgraded on our nodes. If you want an open Channel not all made it super easy house though. There was just he pushed the update and then there was an update button and you press the update button, then you wait for it to update. Then you just stop to L&D service. Then you updated that and then you started it was like three button clicks super intuitive. Yeah. Well shout a novelty in for being on top of that. It's pretty badass and it got it out really quick. And yeah, so we're fully upgraded now this channel back up. It's an interesting sort of way to backup everything and basically makes it so that you're able to get messages out to your peers your channel peers and politely ask them to close. That your funds get back to the on Shane address write the force. They've forced close the channels and it goes back to the address. Yeah, and this is incited via message that you send to your channel Pierce. So what does this mean? What does this give you a sense of? You know, it's a step in the right direction, you know, you don't you probably won't lose everything if something like catastrophic happens. Yeah, it's still not ideal because you don't have your channels up. Up anymore, you know you have to and you have to pay all those transaction fees to close all the channels. So ideally you'd never have to use it. But it's a nice it's good to have a like a like a fallback. This is actually a good caveat into a subject that was not on the docket. But I saw you and Nick Bhatia who's going to be in town next week on the podcast talking about our arnar on our honor our routing node, which is a at the node accrual rate is it yeah the NoDa cruel or you note accrual rate accrual rate and sparked the basically trying to discern the amount of interest earned via routing lightning Network payments. This is what Nick body is trying to to sort of develop a ideas around and a process around and the concept is you can sort of discern a percentage gained from your node because of routing transactions fees that you accrue but you brought up a good point that our node is probably net negative because of the the cost of opening and closing channels. Jane well, he brought up the cause of the novel as well. But we they sent us ever free so it would be unfair to include that. But yeah, I mean we have the on chain fees. We have the cost of the hardware whatever you're running it on. Right? We have Internet you have to pay for you have to pay for obviously electricity, but that's minimal. Yeah, and so it all comes out it all comes out negative. Now. The other thing I said, you know, it's first of all, it's very early to make any kind of conclusions. I kind of disagree with Nick and lot of ways that I don't think that people are going to be honestly reporting what kind of fees I make so that just draws that whole thing out the window and then the third thing is there's other benefits that are really hard to quantify and running your own full node, right like so Sovereignty and being able to verify your own transactions and increase privacy. So if you're already running your own full node. You're so that you know, you just end up running a lightning note as well. That's kind of yeah, that's important. It seems like a variable cost dependent on the individual. Yeah, it's hard and it's hard to put that cost totally on on running running a lightning note. Yeah not that was an interesting conversation. Maybe we'll link to that if we can find it. I'm sure we'll be able to was so I recently discovered how to like adjust. I'm like just just learning on the Fly. I discovered how to change the fees of the channels from the default because we were just running on the default for a while. So you just got you you lowered our base fee, right? So so lightning light. Yeah lightning 10ml satoshi's or something the way lightning fees work. So on chain transaction fees work by the size of the transaction and bites like how big a file it is the lightning transactions. Go by how much money you're sending? Right? So there's a base which is just automatic charge and I think that defaults to one Satoshi. So I turn I changed I lowered that 2.1 Satoshi and then a hundred millisecond to she's yeah, so makes super small payments like Ultra cheap and it basically free and if you're making a big payment to gives us a little bit more of a big so then yeah, I change the rate. On the satoshi's per byte. Yeah that the variable rate I raised that. But it like not that much. I'm not it's hard to visualize at those small numbers how low it is. So I'm I'm just experimenting. I'm just going to I'm going to just keep changing it around but it's always going to be low for at least for now trial and error baptism by fire. I mean part of the reason why I think it's going to be hard to make like reasonable like extra reasonable Returns on these things is because There's always just like some guy who is just doing it to you know, like help the network or whatever who's just running big channels all over the place with very very low fees and the alternate. Yeah the altruistic node Runner. Yeah, it's super easy to undercut especially with like private channels and stuff. Then other people won't even see it. Yeah, the private channel is more what I'm more worried about for developing these these statistics and data rates and stuff. Like it be running tour nodes right liked or lightning nodes will be running the magic salt missing the people running like they give well, yeah, hopefully the majority of our nodes will be running Tour by default. But you know, then people aren't going to be honestly reporting their fees. Why would they do that? Yeah, there's no incentive to accept like the public if there's like publicly traded. rated routing companies so that have to so that's that's what I'm getting at is they'll be like the a two-tiered or a bifurcated system of like an underground lightning Network and an aboveground kosher Network that's like kind of like the one of the reasons just jump in headfirst into into like running this node because I feel like you can't like if you're not trying to not make that happen, then you can't really complain about it. And I think once you have like reliable backups, like a lot of people will I think a lot of people will you know prefer not to send it through send their transaction through some major routing node. We're major routing no now. No, I think we're like We're just just like a nice. I don't know like the it's like the anti is supposed to be like the anti routing node. Like it'd be nice if we could like. Yeah, just like have a I've I have I didn't I've closed any channels that Ellen big is opened with me. So I've just I'm disconnected from him your big Ellen big concern. We have huge challenges like Pierre. I don't know just like the friend I guess the friendly routing node. Yeah, like there's the friendly Community route. Your local routing node two freaks that you you freak snow. At least we hope you know us a little bit by this point. We're here to help. I just want I want the network to be as distributed as possible like the least Hub and spoke as possible. Yeah, it seems like it's getting easier to make that that Envision reality a real reality. Yeah. I mean, I think the big thing is just like really reliable backups like once you can give people that you know, peace of mind L&D 0.60 took a big step Direction. So yeah, if you haven't upgraded yet upgrade in the GitHub release notes. They say it's highly encouraged because you can't participate in the static Channel backups. Yeah do the nature of some of the bug fixes which were made during the implementation of the new SCB feature uses are highly encouraged upgrade to this new version staying on Lightning though a couple cool apps that we wanted to bring up Ellen pay wall link is the first one and this seems like a pretty simple thing. You can put any any link behind a lightning network-enabled pay wall basically like a bit ly But for for people who want to make satoshi's on this, yeah pops up a little lightning invoice and then your the visitor pays a lightning invoice. They get redirected you get paid and the guy who runs this gets paid a bit so you can like pay wall anything right? Like yeah, but like once I get through then they have like the regular link, right? It's still really cool. I think it's a really I like simple tools just like little things. It's a very cool. It's a very cool proof of concept. It will definitely share in the the show notes. Hey Walt dot link and then the second one I want to highlight is lightning scratchcard. This one's really cool. So this is not exactly the same idea. But what it is is you pay micro payments to scratch off a piece of an article a bit at a time and leaving the rest of it sort of redundant communal pay wall. Yeah. It's a communal paywall that you can pay. So like right now I'm looking at an article that is only been 25% revealed and starts. It stops like three quarters of the way through the first paragraph. That's all I can read right now. But if I were to pay a hundred satoshi's I'd be able to get a More lines to you're not going to contribute and help help people read the rest. Now. My node configuration right now is not ideal. I scratched off like half a paragraph of a different article the other day. It's pretty cool. It's like it's an interesting idea for a pay wall. It's a very interesting idea because then everyone because once one person scratches then everyone can see that part that is now visible you could yeah, this is very cool like gamified way of interacting with content and it's something that's only possible with like a With a light Network. Yeah. Well, I mean, yeah, pretty much Nick. Yeah and probably be enabled with other Technologies in this space. But the fact that we have without having to do like kyc and everything. Yeah, like you could probably yeah, you can probably like integrate it with stripe or something if you want to tell that'd be a pain in the ass. Yeah. So these things are getting built. It's cool to see them. We are building similar things that we're going to be. We're going to be working on like similar content was a little teaser gamify ideas as well a little teaser and both of these we open channels to so that that's like another reason that the node is really useful is because if we talk about something then we can open channel to it ahead of time. Let's check the note right now channel count 207 207 channels open. I think that's that's pretty eye. Yeah, it's I mean, it's it's not Pierre's node. What's yeah, but it's like look up here is no type in power node users. Lightning power users is what the notice. Appears got a thousand two hundred twenty his insane. Holy crap insane. He's been fighting the good fight. Shout out to Pierre. What what else have you learned managing our node anything anything do from last week? No, it's been going great. It's the novel makes it extremely easy. Staying a lightning a little bit not directly involved with the Hot or Not. BTC pay fundraiser was run over the last week. That was badass. I was badass the website was badass, but it was all run through BTC pay server once your PTC pay server and it was very interactive. So you could tell like it was you could tell in real time when people were donating and would show whether it was a non chain transaction or lightning that one the amount and the amount just came down in a ticker that So fucking cool. Yeah, it's it's crazy how and again like gamifying this stuff like gamifying a fundraiser for defense fund. It was fun. I was like, you know it really I donated through Jewel and it like really it clicked because you know, you like you go there you click donate and then just pops up right through your browser just makes the payment instant when you see like pop up on the little ticker that everyone sees like that's pretty fucking cool like a little bar moves, I guess a little Payments this is the themes that this is the theme of tonight's rabbit-hole recap is gamification from satoshi's Treasure to scratch off to this. Like is this the way like we get Bitcoin to the masses is sort of gamifying all the stuff. I like games so I'm fine with that. Is this for real? I think it'll be effective. This is going to be adopted by Rich billionaires looking to stash their wealth or people looking to interact in a gamified world. I mean, I think it's already been gamified too many degrees. I mean like you have the the whole trading element like we had what okay casino, right? You know you have bit Max's like a straight. It's that that's like a video game because how it's all set up. Yeah. Okay. Yeah. He's gonna say, okay scecina bring me back to the okay wood chipper, which also made me think of the article that Nick Carter dropped this week about proof of solvency and the The Horde history of exchanges and proof of solvency. Yeah, I think okay corn specifically faked their approval solvency, right? Yes. They did. They deleted it. There's like a if it will link to the next piece as well, but there's a laughable history of Ages saying that they would provide proof of reserves and then either never following up following up and only once and not repeating it or following up a completely fabricating it like okay coin did there's one exchange coin floor out of UK that is produced 60 months in a row of proof of reserves. They're tiny little tiny little UK change, but they've been around for a while. I think it's 60 months is five years. I've been around for at least five years. That's pretty long time in the space providing proof of reserves every month. That's 2014. That's pretty long. Yeah, so we have some unknown exchange leading the way on on proof of reserves, which is something we probably don't talk about enough on this podcast is something that is enabled with this technology. That should be demanded by the market. Do you think so Whatevs never really been possible before Bitcoin, I think now that it's possible that yeah, it should be demanded. I mean at least some I'm surprised some Services haven't risen to the occasion just to attract business, you know, like at least a couple of them should be doing full-blown badass proved Reserves. Pick and coin floor there if I went and read their their monthly report, like it's very very nice put together very easy to read and very step by step here. Here's the hash of what we proved. We have you can go double-check it cross-reference it using these steps and suede should be like, it should be like a monthly investor report should be at the bottom like, oh by the way, here's our proved reserves to make sure give you some comfort that we actually had the money that that were saying you have access and ownership out of Honor. That form but then like on the other side like they have all these, you know, USD and Euro liabilities and what not that they can't ever give you proved reserves of that. So you're still You know the proven reserves isn't a bulletproof. I guess like especially something like an ETF or something like that proved reserves extra. I would say is like extra important. right because then they can give you the full hundred percent what you need to see there's no Fiat Holdings on the side that That complicate the picture. Yeah, because I can exchange. Could I have full? They could have their full Bitcoin like, you know full everything they need for Bitcoin the right amount of Bitcoin and I've no no USD and their bank accounts if they needed to if there was like if they were using proven reserves. That's what they would have to do. Well, that's what Nick that's what Nick brought up and in his article as well. Like some of these exchanges to could easily game this by like buying Bitcoins moving it to a wallet exactly before or something like that. And then it's the opposite effect because then the exchanges that are hurting and that our The amount they should be at their like insolvent put themselves in even more risky position by getting into like Kylie vile volatile Bitcoin instead of holding cash positions, right? So that could even have like a knock-on effect to be worse. Yeah, but this is in the current Paradigm or living like in a future hypothetical Bitcoin eyes world. Do you think think it makes more sense? Yeah. I mean there should be like proved reserves for everything. Yeah, I was thinking. Yeah, and like proven reserves and like multisig just lots of multi cigs with you know, like when you enter different contracts and stuff, you'll have like a third party are you know just executors? Yeah, exactly handling any disputes and and not only will you have proven reserves will also have proof of no one party can move it. Yeah, slowly but surely slowly but surely be aware. These things are coming. We're getting there quicker than That's what I thought. We were going to get in the pen. I wrote it about Arrow yesterday. It's like Bitcoins quickly becoming more scalable more efficient more private more robust. Another thing not on the list that came out this week Block Street and push an update for the satellite. It's now extremely more efficient for CPU on the CPU or less burdensome on CPU. So they're running on the same chip now is the noddle. Yeah, which is pretty cool. Yeah, so it's just making it more accessible with with cheaper Hardware. So again, that's a it's a different transaction relay option to users the satellite and that's just getting easier to use now. It seems like everything is getting easier to use quicker like the Wasabi treasure like they're not even treasure just Sabe Hardware compatibility. I thought that would take a while to implement but it seems like it's pretty easy to kind of cheese did on our show with us when he was on with us. Yeah, it's crazy to see that that exists or if it feels like just six months. Ago we were talking about testing out Wasabi and it's already implemented inside. These are just fucking beast over there. They're just fucking killing it all the time. Keep killing it. Yeah, I mean that was Sabe news. Is it just like such a big deal that I could tell people, you know, like by a hardware wallet usually with wasabi. You know have a full load use with Sabe should be good for 99% of situations. Yeah, it's happening faster faster than I expected moving to the macro scene to the geopolitical scene seems like the US has sanctioned Cuba Venezuela and one other bag, I believe Nick grew up Nicaragua. Yeah. There you go there with the thousand-dollar remittance cap every three months.No, no, so you just Cuba as a ribbon in Sky just keep as a ribbon and then they sanctioned the Central Bank of Venezuela and then these sanctions Financial Services business in Nicaragua, but the so the remittance cap is that's the big one. That's a big one, especially where Bitcoins involved. Yeah. So that's 3 billion dollars that Americans at least in 2016. I imagine it's gone up that Americans sent back. Back home to the Cuban relatives every year three billion dollars and now they're capped at a thousand dollars a month per President others every three months. Yeah, so thousand dollars a quarter four thousand dollars a year a math finally some good masam, easy math. Thank God. It's pretty pretty fucked up. But again, it proves hurdle through which Bitcoin can Route Around. Yeah. I made it just like this is it's kind of ridiculous that any given country can tell you that you can send to like like the European Union and I've ever someone else but do you do European Union came out, you know, like they were like, this is ridiculous. It's like a horrible idea. They they're not having any sanctions on their side. So Bitcoin can freely move in and out of the country through the other, you know for Arbitrage or whatnot and it highlights a very hairy situation that we're finding ourselves in a specially as the geopolitical landscape heats up and sort of tensions rise on the On stage. Once you have these sort of disagreements between like un countries NATO countries when you're sanctioning stuff just inherent attack vectors for friction and and tumult that Bitcoin is sort of just doesn't even have to worry about it sort of completely separate and could provide the solution where people are like, all right, this stuff is getting to a point where it's unworkable. It's too political. It's too much of a bureaucracy. R. C excuse me that this just presents an easier less system with less friction. Yeah. I mean like at the end of the day like Bitcoin makes these kind of rules unenforceable and that's why when people say like oh Bitcoin is too expensive, you know, it's too complicated all these different things like that's the cost for being able to send a payment, you know back home. Your family members when you otherwise wouldn't be able to like you're not going to be able to like send Ripple payments back to Cuba, you know, like that's because it's a centralized system. Like if people do that like they will shut it down. So so like that's that it just highlights the value prop like so clearly and then when you have like Venezuela Central Bank getting sanctioned like that highlights it from a completely different angle like this, you know, the Cuban story is is is more about the individuals and people but But in Venezuela like the corrupt government over there is going to want to move more into Bitcoin because they're because their Central Bank is is sanctioned. Yeah and speaking of not even corrupt governance. Well, yeah corrupt governments and sort of countries with the ability to take bigger risks because of their current situations. We have not confirmed this it's been hard to confirm. There's a new story about meetings in the Middle East. It seems that Afghanistan and Tunisia are talking about exploring have you looked into that at all? I've looked into it and like so like there's one little blurb and I think it's not real. Yeah. It might I haven't I didn't have a check. They said blockchain. So that's here's the it was a horrible Source. It was news BTC which no one should ever go to any get a news BTC. There was a there was a this was an Asia today. I was someone tagged us in a news BTC. Yeah thing on top, so I went to I went to try to find like the the at least the something closer to the source Asia today and Bitcoin was brought up but so was blockchain and Hyper Ledger is know something could have been Lost in Translation, but at least they're talking about I'm really I don't know. I guess I don't know. Well if they let's this is this is a this is a risk it for the biscuit not full information call out here because hey if gamma Stan is thinking about denominating some bonds and back when you heard it here first. That's the that'll be the real. You know, that'll first of all, I really don't think it's I don't think it's a true true story. But yeah. No, I think it's I think the meetings definitely did happen and the conversation was brought up its what are they trying to make a gov coin or know the probably just do like a blockchain bond or something? Yeah, whatever. It's just buzzwords buzzwords. All right. Sorry for that buzzword. I think I haven't looked into it. So maybe you know, maybe you're right. Maybe it's good. If I am right you heard it here first. I think that will be a game changer when you know Afghanistan starts issuing. That's when the world to start taking notice of Bitcoin. Is there something you want to talk about? There's a couple apps in Europe. We've been obviously stacking SATs on the weekend. Make sure if you're stacking sats are doing so in a very table SEC sex ads response. Yes tax that's responsibly don't flaunt big buys on Twitter, especially if you have a real name, but obviously we've been stacking Sanders Wasabi use Wasabi as well were US citizens. We can only use certain apps. We've had European freaks join in are stacking sets at her days and we've seen two apps in particular get bitter and Amber were members Australian Amber's Australian get bitter is Europe. And as Europe France, I believe we're Francis and England now, that's right. Yeah. I don't know if they officially exited yet. I mean, there's still part of Europe, right? I don't know even though they're not part of the year. It's all very confusing to me. No one will ever know. We'll never know. I heard they have to vote again. The yeah, so get bitter is a cool. It seems kind of cool, but but I guess basically you give them an address and then whenever you transfer money to them from your bank account, they just automatically put the deposit of Bitcoin your address to the like non-custodial Fiat to bitcoin Gateway. It's like an Azteca Wellness. I mean buddies, you're like sending them Bank transfers, but if you do it automatic transfer like you can basically every week just funds get deposited to an address of your choosing. It's kind of cool. It's very cool. So I don't know if it's legit or not. So if any of you have used it, it doesn't allow American. So if any of you have used it, let us know if you hate it or if you love it, if it's just kind of decent. Yeah, the neighbor just seems like a Bamber looks badass. Yeah, it's it's explain it. It's like I think the app is called like a corn in America. Yes where they like take your change and invest it for you like any purchase you make if you have like a little spare left over to round up to the dollar like they take that amount and they buy Bitcoin with it. Yeah, so like goes with the involuntary stacking sites, like he thinks like yeah, like constant small bars constant typing sort of you Australian freaks. If you're using that app or have used it. Let us know. We're trying to expand the apps through which you can stack SATs is kashyap's only so only us and we have a global audience. It's crazy. So it's nice if we can leverage them to like that's awesome. Yeah, so like tweeted at us maybe get tweeted at us. Keep stacking SATs, but also stack responsibly that's a couple weeks ago. People were getting a little outlandish out there. It's gonna be okay Marty. I hope so Bitcoin is always get a little bit outlandish. It's true comes with the territory. Yeah, that's all we got on topics this week got a few minutes to riff. What what are you thinking? Well, I have a couple things to rip about this time since I didn't have riff brought Matt snap brought notes. I guess it's not a river if I if I brought notes so we have I have I got two more reports of people getting their kyc block to finance another kick kick getting their non kyc account locked and kyc forced on them. And so far like the common denominator is that everyone was using just like a VPN service like a shared VPN service, so I think they might be like flagging VP and IP IP addresses Yes, if you're trading shit coins on finance be where they're tracking IP addresses. Yeah, I mean there are well. We always knew there were tracking IP addresses that's just should be a flagging iPlayer their flagging them and forcing kyc. So if you have a non kyc account with them, just just I mean you should be using a VPN when you connect to their service which is kind of ridiculous, but that they would flag them in the first place. But if so, if you do just you got to assume that you're going to have to give them kyc at some point or just forfeit your funds. So just be aware. Be aware. Yeah, I haven't had a phone for the last three days have been pretty therapeutic was for fun this we've got a lot more sleep not having a phone like next to your bed. You haven't had a phone for three days three days. That's pretty crazy. Like why so you got a new one? I am trying to get a new one. I was telling you this before the podcast you obviously weren't listening. Yeah, but you told me but I did you did not say three days three days is crazy three days. Yeah. Well these telecom companies move at a snail's pace Prince website is one of the worst websites. Ever used and just docks my phone care. Now. You gotta change it. That's good because it's Prince fucking sucks. So you should change it. But that's what Tara I'm like, I mean you're telling us I was I'm almost ashamed to admit. I'm getting off the family pan. Now she's like kind of dog shit. I don't know. You're just talking yourself left and right. Yeah. All right, maybe I won't rip off this long story short. It's pain in the ass to take it off the family plan. Start your own plan and keep your number. Yeah, just stay on the family plan forever. That'd be bad as to feel. It feels dirty at this point. You could always just like pay them under the table with Bitcoin when you're a married man. I just just send you know, just send you send your parents lightning payments for you can give them a little bit extra to make it worth their while you just stay on it. I'm not sure if lat Lightnings at the point at which my parents are using a that is it just send them on chain payments so bad. So I also I thought it was interesting just to get back to bitcoin that. Luke Martin interviewed Arthur Hays recently. Yes talking about SPX swaps, right? Yes. He is. He is talking about, you know, being able to trade basically equities. Yeah, but yeah, like derivatives of them are whatever but he also reiterated their Firm Stance against kyc. So they don't accept you as customers, but there's no he like Like how important it was that they that they don't do kyc and I just thought in dichotomy to like house easy and violence is currently handling their kind of ways kyc procedure. That's that's pretty interesting. Well, this is what you said last week towards the end of the episode is any exchange like every Shane is their way to get market shares to come in be anti KY caml allow people to just rush on and eventually they get too big to not kyc. Sea and the wind up doing it, but Max is arguably one of the biggest economic drivers in Bitcoin and is still a stalwart and denying that and the my blank and Arthur Arthur Hays like reiterates that last week is he's he's coming out. But yeah, we still have to comply now like his Arthur Hays and there's badass CEO in the world right now. Is yeah, I'm a I'm a huge fan. I think he's just it's like just even from where they they said their principles like in the right place to begin with because they have the whole business is run through Bitcoin. They have no Fiat, you know entrances or exits. They have no altcoins they allow you to trade altcoins, but they only accept and withdraw Bitcoin everything is just priced and based in Bitcoin like that is for more secure. Point of view and from like a regulatory Arbitrage point of view. It gives you like super, you know movement their big long time thinkers, their long-term thinkers and their research page but backs research is one of the best blogs in the space from a from a tactical perspective. They just put out like how much miners have lost mining Bitcoin SV Bitcoin cash SV I think it was five million dollars since Inception 5.4 million dollars and they're just acceptable to attack at any given time and also the vision has been that just useless security and it seems like they're they're not going to be traded on many exchanges for much longer. Yes, they did get it delisted CZ drop the hammer on them put it away. I have a lot of complaints about CZ but he's also just he just does what he wants to do I was Like why were they like cracking also delisted after that and they were like people were giving Jesse Powell shit about it. And he was like, they're suing us. They're like, they're fucking suing them over the handling of the checkpoint Bitcoin cash is checkpoint, which also you know, but they're suing them over that and he's like, well you expect me to list your coin while Oh, you're fucking suing me. Yeah. Yeah, don't bite the hand that feeds. Yeah, so then Bitcoin cash changes feed you liquidity, but we've said for a while that all these guys were like, it's all trending to 0 this just just look at the people who are involved freaks. They are just like just from a pure character analysis. They are terrible people. That's all I'm gonna say. I mean, yeah, I guess it's a question of argument but Is it though? Yeah, because you but I'd still the fork is a minority for its worthless and centralize it provides no value whatsoever. And it's also, you know controlled by some very horrible people. Yes, this is true. All right, we're four minutes above our one-hour time. Thanks for joining us this week for X-Men. Any last words stay humble stack sets. peace and love
This week Marty and Matt discuss:  - Satoshi's Treasure https://satoshistreasure.xyz/ & https://docs.google.com/forms/d/e/1FAIpQLSeawYh0POJhlKjaUM4Gor240vH_yVN9Urni7VjPYlh4Z5rlRA/viewform?usp=sf_link  - Reports from CoinMetrics and TradeBlock dispute Reuters $100M whale story - https://tradeblock.com/blog/analyzing-the-bitcoin-price-surge-in-april and https://twitter.com/coinmetrics/status/1118603910522994688?s=20  - Wasabi Wallet hardware wallet support in testing - https://github.com/zkSNACKs/WalletWasabi/blob/master/WalletWasabi.Documentation/Guides/20190416HardwareWalletTestingGuide.md  - lLND 0.6.0 - static channel backup --- release notes: https://github.com/lightningnetwork/lnd/releases --- Channel backup guide: https://wiki.ion.radar.tech/lightning-technology/research/static-channel-backups   - Lightning Powernode Launcher will default to Tor https://twitter.com/pierre_rochard/status/1117567495680950272?s=20  - Nodl update-  https://1ml.com/node/0331f80652fb840239df8dc99205792bba2e559a05469915804c08420230e23c7c  - hodlnaut BTCPay fundraiser - https://weareallhodlonaut.com/  - US Sanction Cuba, Venezuela and Nicaragua - https://www.npr.org/2019/04/18/714552854/trump-administration-announces-measures-against-cuba-venezuela-and-nicaragua  - Proof of Solvency piece - https://medium.com/@nic__carter/how-to-scale-bitcoin-without-changing-a-thing-bc4750dd16c7 & https://blog.coinfloor.co.uk/post/183567327051/provable-solvency-report-60-march-2019  - paywall.link and lightningscratchcard.io  Shoutout to this week's sponsor, Unchained Capital. 