Bitcoin Veterans
Bitcoin Veterans SITREP: Preparing for Uncertainty - Personal Security and Community Resilience
In this episode, we discuss the importance of "planting the seed" of Bitcoin knowledge, recent news including Gary Gensler's speech and Ross Stevens' article on Bitcoin as free speech, and the implications of global financial policies.
We also explore the significance of personal and Bitcoin security, sharing tips on how to safeguard your assets and prepare for unforeseen events. Coleman emphasizes the importance of community, preparedness, and staying informed in today's rapidly changing world.
Timestamps:
00:00:00 - Introduction and Community Engagement
00:07:00 - Discussion on Gary Gensler's Speech
00:14:00 - Ross Stevens and His Shareholder Letters
00:21:00 - Israel's Cashless Proposal and Gold Confiscation
00:28:00 - Biden's Funding for Ukraine
00:35:00 - Bitcoin Security and Self-Custody
00:42:00 - Marcus Allen's Warning to the American People
00:49:00 - Conclusion and Future Discussions
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- Broadcast on:
- 26 Sep 2024
- Audio Format:
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(upbeat music) - Good morning, everyone. And welcome to episode 28 of the Bitcoin veteran spaces. My name is Coleman and I will be your host this morning. And I wanna say a good morning to Lisa and Terrence, Bob A.C. Hunter. Good morning, everybody. I was everyone's evening. - I'm 25. - Anyone planting seeds last night? - That sounds kind of dirty, Coleman. - Yeah, I don't know what you're implying, Coleman. - You obviously weren't worse than to the show this week, then. We're talking about planting the seed of Bitcoin in the minds and hearts of our local community. - Well, Coleman, is the price of this show back to normal prices or have you debased our minutes again? Do we, you know, yesterday I had to spend two hours of my time on this space and normally I only have to spend one hour of my time, but it was a great show. So maybe it was worth it. - I thought the show was great. So I was more than happy to allow that to extend, but today's show should only last 60 minutes. But again, yesterday's show from sitting on the sidelines for so long over the last three years and now being able to take part in this and hosting this show every day and talking to all of you. Like it's a weird dynamic because I've been a huge fan of everybody that comes up here for years. And now I finally get a chance to interact with you daily and hear your thoughts and your insights. So it's really surreal for me. So if I get an opportunity to hear a great mind speaking, I'm not gonna push anybody away. So that was definitely worth for me going over long, but I hope everybody enjoyed it. - While everyone is still refilling their coffee and joining a space and getting the gunk out of your eyes, I wanna make sure everyone understands the reason why I'm up here talking to you all and you all are listening to me speak. And the reason we do this, like we said earlier, it's the plant those Bitcoin seeds. We wanna go out and make sure we're making an impact on our local community, talking to our neighbors, our friends, small businesses. Anybody that's gonna be able to have an impact and make our mission grow. And that's to make sure everyone understands they have the right to control their own assets, your own freedom, your ability to communicate, defending the thoughts and ideas that our founding fathers fought so hard for, not that long ago. And so we have to make sure those aren't taken for granted and make sure that everyone understands tyranny does not have any place in the United States and we will stomp it out by any means necessary. And so if you're a veteran and you're just listening to us for the first time or you've been sitting on the sidelines for a bit, please reach out to us. We have a large community of veterans, over 600 of us, we're constantly growing. So reach out to us and we'll help answer any questions you have and put you in the right direction to get you on the right path. So just some really quick updates on we were supposed to have punter Jeff come on our show tomorrow to talk about micro-strategy and his thoughts and kind of how we see things going and answer any questions we have with them. But something came up last minute so we're pushing that episode to Tuesday the first. So tomorrow will just be another free for all where we can all discuss but just a slight change and everything going on right now. Did anyone have a chance to see the Gary Gensler speech he did this morning on Squawkbox? - It is all over social media. Every day when I get up, I do a quick scan for like the top news story in Bitcoin and that one was on everyone's feed, which I don't know why, why do we listen to him? He says nothing new and he evades the question where will Bitcoin be in 100 years or whatever. It's like, I'm sorry. I thought you were supposed to be wise. Why do you just need to be up there? Like the grade school principal enforcing the rules. Can we have any freedom of thought? Can we have any leadership? - No, I agree. Go ahead, Aaron, sorry. - Boston say, I missed it. I didn't, I saw it but I didn't listen to it. So I was wondering if Lisa can act it out for us word for word 'cause I'd like to hear what he said. I'd have to shave my head first. - And then honestly, there was no talking. Like he, I don't understand why he was even up there. He didn't answer a question and anything he did answer, it was already known. So again, Lisa, I'm confused as well as why we're given this guy any box to stand on or platform to express message because there was nothing new under that five minute video. For me anyways. - No, I think the best part of any guest on that show is just Joe Kernan trying to advance the Bitcoin mission. But like I have just, I really like him. Like I love how he grows people about Bitcoin. I love how he tries to push the envelope. He's just, just needs to, I don't know, quit that show and come co-host Bitcoin veterans or something. - Hey, he's always welcome up here but I think he's, he's good where his role is right now trying to plant those seeds and getting the message across and eventually he's gonna stick. Again, no one understands it the first time and some people are more stubborn than others but it's good to have him out there talking about it the way he is. Eventually people will start listening. I guess some other big news that came out yesterday was the night dig chairman, Ross Stevens, published an article that said Bitcoin is free speech. Did anybody up here get a chance to see that or read it? I think that is a no. - No, I did, of course. I mean, I think if you read nothing else this weekend everybody should read that and you should go back and read his chairman's letters that he writes to their shareholders every year. I mean, the man is an incredible writer. He has an incredible practice of writing. He writes every day. The way he writes his shareholder letter is he, I mean, he tells this story. He writes every day and has these thoughts and then kind of sits down at the end of the year he puts himself away, he takes himself on vacation, locks himself in a room for a week and you know, digests all of his observations and thoughts. And no, in all seriousness, that guy is such a thought leader. I don't know why he doesn't get more press. - Yeah, you can literally orange pill people by just sending his shareholder letter. The first one I think was amazing and the second one was fantastic as well. But I've done that before where I've just sent the shareholder letter and said, just read this, I'll post it in the nest if I can find it on here. He's just not on Twitter. So a lot of people don't get his information. - Yeah, if you could, Terence, I'd be appreciative. You can find that and throw it up in the nest. But in case anybody hasn't read the article or is unfamiliar with who Ross Stevens is, Nye Dig is a financial service firm that specializes in providing institution solutions for Bitcoin. They focus on integrating Bitcoin with broader financial systems. So they offer a range of services, Bitcoin, custody, assets, management and financing. And so in his article he released yesterday, he implicated that Bitcoin is a first amendment. As a system for collecting and communicating information ranging from payment data to art, Bitcoin is speech. As a statement of protest against the government's monopoly over money, Bitcoin is expressive conduct. And as a collection of individuals that share Bitcoin's hard-coded principles of individual liberty, anti-censorship and anti-deep basement, Bitcoin is an expressive association. Therefore Bitcoin is free speech protected by the first amendment. And therefore regulating Bitcoin is a clear constitutional or has clear constitutional impacts. So really big statement there. Does anyone have anything else they wanna dissect from his statement? AC, I see you out there. - No, not anything specific to the letter. Just kind of like Lisa, both Lisa and Terrence mentioned, you know, anytime I see anything come out, from NIDIG, it's definitely worth a read. Even if it's just a skim, usually it's a unique perspective, you know, being in position that he and they are in, that I am not in, it's always insightful. So highly recommend for anyone out there. - Can I tell you my favorite Ross Stephen story? - Please. - Okay, maybe this will inspire folks to go read his shareholder letters. He has in, I think it's this year's shareholder letter, but I can't, maybe it's, I don't know, it's in the last couple of years. He talks about as a company, they came up with, you know, their employees are really important to them, et cetera. And so when one of their employees loses a family member, they have all of the executive assistants get together and assist that family and assist the employee. And NIDIG covers the cost of every family member to travel for the funeral services, you know, whether, and they have employees all over the world, right? So no matter where anyone is, NIDIG covers the cost so that everyone can attend the funeral. And NIDIG went through some really hard times. You know, they had a bunch of loans out to Bitcoin miners and of course the Bitcoin miners have had a very tumultuous last three years. NIDIG had a very tumultuous last three years. And Ross was in a meeting, I can't remember if it was an executive meeting or maybe a broader company meeting, but the question was asked, you know, well, what happens if we're not doing well as a company and we can't afford to provide that benefit to our employees anymore? And his answer was, we'll just work harder. Like to me, like I was sobbing crying, reading that. I mean, to someone who is so committed to your employees that at all costs, you will support them. It just, I don't know, it says a lot about his integrity. Highly encourage you guys to go dig up those letters. - Yeah, I think in the 2020 shareholder letter, he also says something about how any of his employees, they can take as much time off as they want, if they need like therapy or they have any mental issues or he encourages you in the vacations with families. I forget how he worded it, but it's kind of like, you know, as long as they get their work done, he doesn't care how much time they take off, which is pretty cool. - And for anyone out there, I just posted in the nest the 2023 letter and as Lisa was talking, I was searching, that's actually on page 11 for anyone who wants to follow along. And Terence's point, I don't remember the 2020 letter, but that exact point is also, you know, kind of reinforced in the same 2023 letter on the same page actually. So for anyone who wants to check it out, it's up there the nest. - Yeah, that 2023 one is the only one I'm finding on Twitter. The 2021 is the one you guys need to read. And I'm still searching for that because the links all go to a micro strategy page that doesn't exist anymore. So, but I'm sure it's at the NIDIG site anyway. - I really appreciate you sharing that story, Lisa. I for one did not know that he wrote that or that was his view. So it's nice to see that there's still people out there like that that have large companies. So it's nice to see. Did everyone see this proposal that Israel is trying to do about going cashless and trying to hoard physical gold and silver, not allowing their citizens to hold it? So Israel is promoting a new plan to abolish their 200 check hole bank notes. That's just the largest bank note that they have in circulation. And they want to forbid possession of physical gold and silver and they want to use artificial intelligence for enforcement. So I think we need to really make sure that people understand the importance of Bitcoin 'cause this is not possible when we use Bitcoin. Anyone have any thoughts on that? I think it kind of shows the state of affair that Israel is in right now with the war and how they're just continuing to push on. To me this says that they're really starting to hurt for money and that they need to start confiscating this and not allow their citizens to have any means where they can start going outside the system. So I think you start to see that when a system is scared or falling and if anyone has any thoughts to counter that or support that, definitely let me know. But I think it's very interesting to see this unfold. And it's unfortunate for the people and its citizens regardless of take the war out whether you support it or you don't, we still don't want its citizens to have this level of tyranny imposed on them. And that goes right into what China is doing right now with their stimulus plan. So it looks like China is already starting to panic. And so they're trying to just flush their system with a lot of money. And so the latest announcement coming out is that they want to issue 801 which only works out to be about $113 American every month to families that have more than two children. So they'll get about $113 US dollars per child to help offset the price of goods and kind of stimulate the economy. And if anyone remembers what happened in 2020, 2021 with the pandemic where we started pushing out all these, all these loans, we all felt the effects about 10 to 12 months later when inflation was going high. So it'll be really interesting to see what happens in China with this policy. Do you all have any shots on that? - Y'all are very talkative this morning. I feel like I'm just talking to myself. - Coleman, I'm still recovering from all the signal from yesterday. Unfortunately, I didn't have an opportunity to come up to the stage, but no lie. I listened to that episode twice just because the level of discussion, everybody was going in so many different directions and it was all amazing to hear. So that's my excuse at least. But yeah, as far as China and their stimulus package, I don't remember off the top of my head. Did you say it was like $113 billion equivalent? I think there's gonna be a trickle down effect across the global markets. It's going to motivate others to start coming up with similar packages or money printer go burr. And really, when we align global liquidity with Bitcoin, we're gonna, I expect we're gonna see an uptick in the price, but who knows? That's my perspective at least. - I think you're right there, AC. And I'm glad you listened to the show twice yesterday. I appreciate that. But I think you're right that the assets that would react positively to influx and the increase in money supply are doing so right now. I'm looking at the chart. Bitcoin's just knocking at that 55. It's at 64.8 right now. Gold broke 2,700 this morning. It went down a little bit, but it's still pretty early. So I think you're seeing all of these assets start to react to the inevitable, which we've been talking about that all the governments are back into a corner. As Greg Foss would say, the debt is baking to the math. So it's just, it's inevitable. And speaking of debt that's just being issued nonstop, Biden announced nearly eight billion additional dollars sending to Ukraine for weapons and supplies. Again, I don't know where they get this money from. I don't understand it. I do not understand why they're finding this war that has no chance in a positive outcome for Ukraine. I'm not pro-Russia, I'm not pro-Putin, but I'm definitely pro-life. And they're sending these men just to the slaughterhouse for no reason whatsoever. And just continue to drag this war on is not gonna be beneficial for Ukraine or for us in any manner. And we're really starting to make Putin upset with what we're doing. He came up yesterday and spoke on a national television. And he said that Russia is going to change their nuclear treaty doctrine. So he warned that Russia will respond with nuclear weapons if they're attacked with conventional arms by another country that does have nuclear weapons. So the way I interpreted that was if we are supplying Ukraine with munitions that can reach deep inside Russia because we are a nuclear country, even though Ukraine is not, we're supplying them, Russia will strike back with nuclear weapons. So it's a really deadly escalation we're getting into and there's really no need for it. Do you all have any other thoughts or counterpoints to that? Okay, the next thing I wanna get into is Eric Adams is being indicted after a federal corruption investigation. So I haven't seen any details as to what's, what exactly the charges are. But just trying to read my notes really quick here. The indictment remained sealed Wednesday night and it was unclear what charge Mr. Adams would face when it's made public. He'll become the first New York City mayor to face the federal charge while in office. The thing I wanna talk about on this was if you're not following the Bitcoin veterans yet, go do that right now. And then every morning Randy Kelly throws up his daily intelligent bulletin. And so I always read that and highly recommend everybody to at least glance over it. The part that I always look for is at the very bottom when Randy K posts his thoughts and anytime he has something in there, definitely read it over once or twice. But in there, I'm gonna read it. This is what Randy had to say about the Eric Adams indictment. For the FBI to not overlook the corruptions, now so common throughout the political class, simply research net worth values of politicians over time. New York City mayor Adams likely did something out of step of his party's guidelines. This could be one possibility. Adams support for cryptocurrency has been a defining aspect of his tenure. Surely after taking office in 22, he pledged to receive his first three paychecks in Bitcoin and Ethereum. So I think Randy is definitely onto something with here, or onto something here. I don't necessarily think it has to do with his stance on Bitcoin and cryptocurrency, but I do think he stepped outside the line somehow and this is their way of punishing him. And so if anybody up here has any thoughts as to what he might have did to step out of line, please share them now. I'm gonna be gonna kind of go down that rabbit hole. (chuckling) - Okay. - Making this really hard for you today, Coleman. - You definitely are, Lisa. It's okay. - We are, I'm packing. I'm taking a little trip on a jet plane, so I'm trying to pack, but I don't know anything about him, but I'm convinced that people in New York, their water, is just poisoned to a degree that their brains are failing. There's so much craziness that's happening, an indictment happening in New York, whether or not it's an official indictment or an indictment of wrongdoing through some sort of crazy event, like the one that took place at Cornell University. I think it was last week. They had a group of climate zealots gather and basically attack Bitcoin and publicly attack Ella for starting a Bitcoin club at Cornell and basically telling the citizens of New York that Bitcoin was using all their energy and was the reason why their energy was so expensive. So I do not know, New York is broken. - I think New York is broken. I'm sorry to hear that Ella had to deal with that. But no, yeah, it's just crazy. It's crazy times we're living right now. I don't know what the fix for New York would be. I think honestly you probably just have to completely gut it and start over with different leadership. There's a lot of corruption that happens. But I think this is definitely something to keep an eye on to see what the charges are, why they're going after him and try and go backwards to figure out what he might have said or did that made them come after him. I've seen reports where it had something to do with the diddy indictment. I'm not entirely sure with that, if that's one, that would probably be my least of possibilities. - I just remember not too long ago that Eric Adams was, I mean, it doesn't seem like too long ago, but when the Best Business Show was something that people watched on YouTube with Pompeliano and he had Eric Adams on there. So I think on that, I'm sorry, I think Eric Adams was trying to keep up with Suarez from Miami and Suarez turned, I think he went more shit cleaner with some Miami coin and Eric Adams would say he was gonna be the first one of the first people paid in Bitcoin and he was gonna be a Bitcoin mayor and then flipped. - Yeah, thank you for bringing that up again. Anyway, because he did flip pretty quick. It was almost immediately after he took off as there was a big ban. I think it was on the mining sector. And so they didn't allow mining to happen in the state because of his energy pull. So thank you for refreshing my memory on that. And also good morning. - Good morning. - Well, one of the big things I wanted to get on to today or to touch on is security. And so for the veterans in this space, everyone knows not your keys, not your coins and what that refers to. But I definitely wanna take some time and hit on, for anybody that's new or just not familiar, what Bitcoin security is and kind of the route with that. So if anybody up here right now wants to kind of tackle what their view on bitstone security, how to make sure that you're storing it correctly and how you're being redundant to make sure that you're not going to over-complicate your seed phrases or the way you access your wallet. If anybody wants to go over that with your take first, if not, I'll just go ahead and jump into my talking points. - Yeah, Coleman, I'll jump in really quick. And really, this is for the new folks out there. I know it can seem overwhelming at times when you jump on a space like this or you're reading articles or listening to podcasts and people are talking about air gapped, multi-vendor, multi-jurisdictional, multi-sig. The one thing I'll say is self custody and security and privacy is a journey. It's not one that you're gonna get right away, right? And so I would say start with something simple, like maybe a hot wallet that you self custody on your phone. And then once that becomes a little bit more significant, look into a hardware device, preferably air gapped, continue with something like a single-sig, move to possibly a single-sig with a passphrase and just continue to upgrade your situation as that value continues to increase or as the SAT-denominated value amount continues to increase, but you don't have to get it all at once. It's one of those things that you're gonna continuously be upgrading, especially as things change in the space and in the industry to make it a little bit more easier to use from a UI/UX perspective. - Absolutely, AC, and thank you. You should definitely always be learning, even if you're a veteran with your Bitcoin security, your hardware wallet, there's always new changes. And so make sure that you're always updated on the newest thing. But you're right, start off with something small. Everyone's number when you first get in is different, but I would not recommend your first time taking your coins from the place where you buy them from and putting them onto a hardware wallet to move them all at once. There is a possibility where something could go wrong where you put in the wrong address and that would be a big mistake to make. So start off with something small, start off with just a couple bucks, put it into your hardware wallet and play around with it that way and move it back and forth, send it around to a couple different on your phone to your wallet and just get familiar with it. We have a lot of resources that we can, videos and people that will help you if you have any questions about securing your hardware wallet or which wallet to choose. So definitely send us a DM if you have questions. There's also a lot of resources online as well. So make sure, again, you're choosing a good hardware wallet, not all hardware wallets are the same. The ones that I recommend, I only recommend one, it's just cold card. Anything made by cold card is something I recommend. I'm not a big fan of Tracer, I'm not a big fan of Ledger just because they allow shit coins as well on their wallets. So I'm a Bitcoin maxi. I only wanna use products that are Bitcoin only. The other big thing is your seed phrase. You will choose 12 or 24 words. Make sure those words are not stored on anything digital do not type them on your phone. Do not type them on your computer. Write them down, pen and paper. Once you've written them down, it is best to transfer that to a metal plate. Recommend going to punchplate.com, get one of their plates, stamp out your seed phrase. The reason we wanna stamp this out is because if there's something that goes wrong, there's a fire, there's water, that paper will be destroyed in your seed phrase unless you haven't memorized, will be gone forever. So always make sure that you're stamping it on something that's metallic and then put it in a secure place. Don't leave it out in the open where friends or family have access to it. Put it somewhere safe. - And just a Coleman, sorry to interrupt, just a pylon to that. The other thing that a lot of people might skip in that process too is once you've backed up to paper and pen, I always tell people to wipe their wallet and recover from paper just to verify that they've got the words correct. And if they're using a software like Sparrow to take note of that master fingerprint that's listed there, and then once you've recovered from paper, verify that your master fingerprint is the exact same. And then again, once you transpose onto metal, back up and recover from the metal plate. And then once you've done that and you've verified the master fingerprint, you can go ahead and burn that piece of paper 'cause you've done it multiple times and you've confirmed and you've verified, you didn't trust, but you verified that your process was correct. - And again, thank you, AC, that's very, very good. Make sure you're not doing that with your entire stack. Again, just do it with a couple bucks this way. If something goes wrong or you can't figure it out, you don't lose everything. Again, I want to always try and push that storing your own Bitcoin and your own keys, your own wallet, it is not complicated. It is very simple, but it's intimidating. So just start up with something small. So this way if something does go wrong, you're not out of your whole stack. Good morning, Shane. - Hey, morning everybody. Just doing some final hurricane prep up here at Georgia and thought I'd chime in for a second. I'm going to drop off as a listener, but all extremely good points by everybody that's making them. One of the things that I always encourage clients to talk about and think about is operational security with these seed words, when you're setting up a wallet, put away your phones, put away anything with a camera, do a sweep around you, don't say these things out loud, don't do any of that kind of stuff. There's always somebody watching, there's always somebody listening. Yeah, this is one of those things that I think a lot of people, as they're going through it, maybe they need help, they fire up a laptop, they fire up a phone, and right underneath their nose or the cameras on the backside of it, where they're taking notes or putting seed words down, there's those cameras, and that's the last thing you want to do. But I'd be curious, I really like the guys over at Blockstream and the Jade wallets and cold card. I'd be curious for you guys, what you guys like and recommend to other people out there as well. So Jade is, that's Adam Bax company, correct? Okay, yeah, so that's Adam Bax. I've never used it. I've only personally used the cold card. I just think it works, it's open source, and it's extremely easy. And there's a lot of different security features that you can add to it, that I'm not sure if you can do with other hardware wallets. So I'm a huge fan of NVK and cold card. What about everybody else up here? - I'll say that I do like the Jade as well. And there are different ways to configure the Jade, right? Like you can store your seed on the device itself, it's got a secure element, similar to a lot of the other hardware wallets, but you can also configure it in a stateless mode, similar to a seed signer. And so that's one of those things where, not that it's a recommendation, but you could, if you had your Jade set up stateless, you could leave it out and somebody could steal it, and there's no key mat or key material stored on the device itself. And then you would either have to load in your 24 words or scan a CQR to load that key mat on the device prior to signing a transaction. And so it's just, I like the optionality associated with the Jade, but absolutely agree with you as well. I think the cold card is probably the industry leader and the case thought of so many different things that a lot of other hardware wallets are trying to catch up to, whether it's like a Bipnarginine seed phrase, multiple decoys, duress pins, storing passwords. I mean, you kind of name it. And I think the leader of the pack right now is definitely the cold card. But I think the Jade is one of those, if we're talking to newbies or pre-coiners or no-coiners or whatever you want to call them, the Jade is extremely affordable and it's pretty intuitive in its user interface as well. - ACD mine, explaining what the Bip 39 is with cold card? - So, sorry, I said, did I say Bip 39? I meant Bip 85. But Bip 39 is the 2048 word list. Previous to that, you actually had to use your entire private key. But it makes it a little bit user-friendly, easier to remember as far as your seed phrase. Bip 85 are child seeds derived from the private key of the original seed phrase. And so you could create, I think the number is like 10,000, different child seeds that are recoverable from the original. So if you were to do something like an Uncle Jim where you're helping custody, like parents or a child, you could give them the seed phrase and you can forget about it. But in the event that they lose it or it doesn't work anymore, you can go through a process using something like the cold card to re-derive that child seed. All you would have to remember is the index or the number associated with that to recover that child seed phrase. - And the number goes from one to a thousand, correct? - Don't quote me on it. I thought it was like one to 10,000, but I could be wrong. - Okay, no. And so, again, that's why I think cold card is such an amazing product. A product to have. There's so many things. And AC also mentioned W wallets that you can have entering your seed phrase with a different number and a fake wallet pops up. You have a small balance and people take it or you can brick it with a certain code. You have time delays. So if someone tries to send something, it's not sent right away. So again, I'm a big fan of cold card. Terrence, if you're something in the nest where her Bitcoin seed phrase was stolen. - Oh, yeah. It's a conversation was going to go deeper. It's a good sort of introduction to multi-sig and how multi-sig works. And a friend of mine did have her seed word stolen. Her house was broken into and they took the whole safe that had her set of 24 words. But as I take the viewer through on the video, she fortunately had a multi-signature set up. So it was only one set of the three sets of words. That created her wallet. So she was safe. And it's just a good example of why I think multi-signature is the only set up for people with significant wealth. Or as they go down on their journey because you don't have to worry about any single manufacturer risk. You can set it up with three different devices. You don't have to worry about a made attack. You don't have to worry about as we go into the future, people are going to know and look for 12 words or 24 words. You know, what could happen. Even if it's, you know, stamped in steel, you know, people kind of can see what those products are. So with multi-sig, you also can separate those keys geographically. You can separate them jurisdictionally. There's just a huge promise in having that. And for those that don't feel comfortable with a treasure map and where they put all three of those keys, they can easily assign one of those to some kind of collaborative security model where you sort of have a key agent who will hold one of those keys. They can never move or sign or send your Bitcoin with just one key because there's a quorum or a majority of two of those three, assuming you do a two of three. You can do five of 17, nine of 27. I don't recommend nine of 27. Two of three is the most popular. And that's what most of the collaborative security models use, whether, you know, it's unchanged or swan or whomever, they stick with a two of three and they will hold one key for you. If you want, you could have all your own keys. But that's just what I recommend for numerous reasons. And because I've been in Bitcoin since 2017, I've gone through all of the steps where I started off with a ledger. I started off with just 24 words. Then I added a passphrase, which is really just a 25th quote unquote word. That word can be a sentence. It could be an entire book, it could be anything. And did several decoy wallets and several different levels. And I still just would have trouble sleeping at night thinking, "Oh, what if this happens or what if that happens? What if I forget my 25th word?" You know, in a sense, you create a two of two when you have a 25th word anyways. So there's two points of failure. So once I discovered what the two of three multi-sig wallet offered and the promise and how it works, I said, this just seems to be the best solution. So yeah, that video is just a fun sort of 10 minute story. But it also explains multi-sig and I have graphics and whatnot if anyone wants to take a look. Thank you for posting that, Terence, and thanks for going over that. And again, definitely recommend, again, not overcomplicate, but make it secure. There's nothing worse than having a super complicated hardware wallet and then you can't remember how to get in yourself. So again, have different security features but don't overcomplicate it for yourself. And so the reason I wanted to go into Bitcoin security is because there was a video I want to play really quick. And so Jacob, just give me a thumbs up when you have it loaded. But the man in the video is Marcus Allen. And we'll go ahead and listen to what he has to say, and we'll tie this in to why Bitcoin security is important, but also personal security. Got it. And everybody in the minority party, they're fearing what Donald Trump would do in the next administration, why they sit here and they look at the guy who's been persecuted by the FBI. And everybody in the room understands it. Mr. Allen, do you have comments you wish to make? I give you about a minute, minute and a half, and then I want to turn to the rest of my time, Mr. Jordan. Yes, sir. I would just say that I consider the hearing today my last act of service as a public servant for the United States of America, and I'll give you my professional opinion. I was an Intel professional for our country for many years, and I would give recommendations and I'd also look at indications and warnings. So I would offer this to the American people as my warning to them. Since this is a warning to the American people I say, I personally have no confidence that the FBI will reign in its own conduct. I have been persecuted along with Garrett, Steve and Kyle, and countless other whistleblowers. It is my opinion that the Bureau used reprisal and fear to control the workforce. It has been a seemingly effective tactic. I personally believe that there are no current effective checks and balances against them conducting Wallace action with any type of correction in a legitimate timeframe. I welcome the work of the IG, but I think any type of Wallace action, there was no legitimate timeframe to reign them back in. Their ability to over classify information can allow them to stonewall forever. So the American people you have a duty as a citizen to vote, and I strongly urge you to do so. It's how you participate in the American experience. I know people have doubts about election integrity, but you must vote. It is your claim. State your claim, and don't forfeit it willingly. Have your voice heard. My other recommendations are in the natural order. First vote, the second is the second amendment. Arm yourself and know how to defend yourself. Make three to four friends in your neighborhood and promise to come to each other's mutual aid in times of hardship, and during the Great Depression, people stocked up a pantry. So I think that's a good practice, especially in our economic times, and make sure you have three to four months of food. As a person of faith, I'd say pray the rosary. Go to the first Friday devotions. That's for everybody, all my brothers and sisters of all faiths, and I know I'm Catholic. And read the gospel of our Lord and Savior, Jesus Christ, and live it every day. And that's all I have to say. Thank you for the time. You know, Mr. Allen, the fact that there are servants like you who have born up under persecution, that a lot of political leaders in this country do not care about, is the thing that heartens the American people, and I'm confident the American people will resolve the situation. I am not confident the American people or the government will resolve the situation. They definitely hit on some big things. I want to go over to make sure that you're a personal security and you're prepared for anything that comes. And I'm not going to be a doomer. I'm not trying to entice fear with anybody, but I think we live in an age where everyone should just be prepared for anything that could happen, because anything can happen. The first thing is to go out there and vote. And I agree. There are a lot of countries out there where they do not allow their citizens to vote, and they would absolutely love to be in the opportunity that we are in. Even if we do believe that the system is rigged and it's unlawful, we still need to go out there and exercise our right to vote. And I do agree with that. Arm yourself. I think everybody should know how to properly handle, store, and use a weapon. That can be a pistol. That can be a rifle. But everybody should definitely know how and have one to be able to use to defend yourself. Three to four people that you can call upon at any time. And this is important. And we kind of hit on this earlier in the week. Get out there in your local community, not your city, not your town. You're the local community, so your neighborhood, your street. Go out there and make connections that have friends. Go out there and teach your friends how to shoot, teach them how to do things. This way, if something were to happen, you have. You have a higher chance of being able to repel whatever's thrown against you. If you have a community, just a small community with you. Another thing I would recommend that goes with this is know what's going on in your neighborhood. You should be able to identify every single vehicle that's on your street. You should be able to tell who's cars, who's driving it, make model. You don't need license plates, but you should be able to tell that. So if someone is driving around that you don't recognize, you can instantly identify them as someone that you need to just keep an eye on. The last thing is three to four months of food. I think that's a great practice to have. Hurricanes, you heard Shane earlier, he's prepping for the hurricane. I guarantee he's going to the store and had to stock up. There is nothing left on those shelves. So make sure that you always have supplies of food and just rotate them out. The best way to understand what food that you go through is just leave a little list in your pantry and mark down everything that you take out for about two weeks. And then you understand, you know what? I never thought that I used a lot of flour, but we do a lot of baking. We do a lot of this. We go through a lot more flour than what I thought. So this way you know what to stock on. We never have 20 pounds of rice and we have rice once a month. Maybe I don't need to stock up on more rice and to change it around. So it gives you an idea of what you should have in your pantry. And then also I think praying. I'm not going to get extremely religious on everyone, but I do think funding God and praying is very important. It will help and help you answer a lot of questions you have in life. Does anybody have anything they'd like to talk about what Marcus Allen said? Or go on to or elaborate on anything that I spoke about. Coleman, I think it's all great advice. As far as the Marcus Allen comments, that's something that personally I have to digest. I would say that I agree personally upfront with the majority of it, but. Yeah, something I personally like to digest, but I do echo a lot of the sentiment that you put forward on your comments. And I think that it's not necessarily unique to a military mindset. But a lot of those things kind of are ingrained into us while we're in service and it eventually becomes part of our DNA. So it completely makes sense to me. Yes, and so I want to make sure that everyone understands again. I'm not calling that something terrible is going to happen. It could just be a hurricane. It could be a tornado depending on what part of the country you're in. It could be an event where you're out of power for three or four days. And so again, just having that community and knowing what's going on is extremely important and you're not, you're not some kind of doom or you're not kind of person that believes in the apocalypse. You're just being prepared. I'd rather be over prepared and not to worry about anything than underprepared and scrambling around. I'll give you a little. Oh, I see Shane's got his hand up. So Shane, if you want to go ahead and speak real quick on this, go ahead and jump answer. He's showing as a listener to me. Yeah, he's a listener, I think. Okay, sorry about that. So I'll go ahead. Yeah, but just like what you were saying, Coleman, and again, this is, it's better to have in that need than needing that have, right? Yes, and it just makes your life so much easier when you have everything prepared and you've gone through scenarios. Again, if you have children, go through scenarios with your kids. If there's a fire in the middle of the night, do your kids know what to do? Do they know where to go? Do you guys know where you're going to meet outside of your house? Do you know which direction your kids are going to take depending on where the fire is? God forbid, but what happens if there's an intruder that comes into your house? Do the kids know what to do? Are they going to come run down the stairs or do they have a place where they're going to go hide inside their rooms? So again, it's always good to go over this stuff with your family. And I do think it is concerning that Marcus Allen, who was a former FBI agent, is talking about the agency and he does not think that they can correct the path that they're on. And I'm not sure if anyone knows the Sean Ryan show, but he had a guest on about a month ago, Cash Patel. And he spoke out almost exactly what Marcus Allen was saying and how the FBI and the Department of Justice are constantly interfering with investigations. And just to go ahead and close them up, they classify everything as classified so people can't get access to them or they can't use it as evidence. So I just do think that that's something to take note of, something to make sure that you're aware of what's going on, and just make sure that you guys have plans of actions for everything. Terrence or Wade, do you guys have anything you want to add to that? Do I need to get a gun Coleman or can I just continue to use my hands as lethal weapons? Well, I had many drill instructors in the Marine Corps who used their knives and we call them knife hands, so they were pretty deadly with them. So if you know how to operate your hands as weapons, you're going to be pretty good, but I would definitely still recommend having some kind of some kind of gun, so pistol or rifle. So since Dom's not here, Terrence, I am going to speak for Dom. I believe you should probably upgrade your racquetball racket, just to say it. I see Dom down there. Dom needs to jump up here. So remember I had that Dom's actually thinking about coming to Juneau next year for the conference. Dom and Lisa, I think they're going to make it up here. I have a feeling. I hope we get a lot of people coming up there. Do you know how many people the conference can hold Wade? The conference can hold more than the amount of people that the lodging facilities in Juneau can hold. So all I'm asking is that people look at their ticketing or look for lodging and get their transportation needs taken care of before they purchase their tickets. We're going to make sure we push that out on all of our promo videos. The website is coming along great. It should be out pretty soon. We're thinking about finding a couple people up here to do some promo videos so people can see the landscape a little bit and what we're looking at. So, yeah, the conference can hold plenty. We can... A thousand people is pretty easy. They're not pretty easy, but we can get a thousand people at Centennial Hall and then there's two other halls that I could lease next to them. So the lodging, on the other hand, probably four to six hundred people in Juneau, so people should definitely if they're going to come. Once we make the announcement, get your ticket early, make sure you get your lodging taken care of right away. And we'll have resources on the website that will direct you to different options for lodging in Juneau. And the conference states are July 5th and 6th, correct, but you recommend coming in earlier for the pre-event events? Yes, July 2 through July 6th would be, leave on July 7th would be the best scenario. There's housing, lodging right downtown by the conference. There's bed and breakfast downtown. There's airbnbs downtown. For airline tickets, we're waiting on getting a promo code for one of the airlines that flies in here. We've got Alaska Airlines and Delta that both fly in. So, we're working to get a discount code with Alaska Airlines to save some people a little bit of money because I do know that airfarer to Juneau is not cheap. And I want to make sure that we help people out as much as we can in that regard. I was looking at prices already to go, and I was looking from the 2nd through the 8th, and the airfarer prices were a lot cheaper than I was expecting. They're right around 400 bucks, and I'm not anywhere where you could sit or close to Juneau. So, I was expecting them closer to a thousand, so I was pretty happy to see you right around 400 dollars. Where are you flying out of? If you're flying out of Dallas or Atlanta or one of the major hubs that can be relatively reasonable if you get in advance, but if you're flying out of Albuquerque, it can be a little bit more. I'm flying out of Houston, so it wasn't too bad. Houston to Seattle, then straight up to Juneau. But I have to tell you, wait, every time I ask you questions of back channels and you post something new, I get more and more excited for this. So, I really hope everybody out there that's listening can join, because there's nothing more. There's just something cool about meeting us in real life. You have an online presence, you think you know somebody, but when you meet them and roll out, you're even cooler in life. So, that's what I experienced when I met all of you in Nashville. So, looking forward again to Juneau. That's kind of what we're going for. You know, you can take the tram up Mount Roberts and you can ride that tram up there with Bitcoiners. You can, you know, we'll have the reception crews. You can crews trace the arm eight hours with, you know, I'm hoping to have some people that everybody's familiar with on that cruise. So, those that do attend it are on that cruise will have a really good experience and can talk stranded energy and Bitcoin. And like that, there's the Bitcoin walk group. And if we can get them up here or get people, I think there's an app for that. But we've got a million trails. You know, you can hike up to Herbert Glacier, which is three and a half in, three and a half out, but it's flat and it's a beautiful trail. And I'll take a day and do that hike and talk with Bitcoiners. Just so much to do here and take up a day and just really take in the scenery. Hey Wade, just make sure when you're planning the conference that you account for the massive incoming recession, Joe seems to be convinced that this is coming. I disagree because the metrics point towards not a recession, but Joe is fixed on it. So just, you know, just plan around that potentially if Joe's correct. Oh, the recession is only going to really affect the people who don't lock their monetary value outside of the current system. So those that have us that have, we should see an increase as everybody else, you know, everything is more expensive. I think a lot of people are curious why he believes, you know, that it's just a metrics S&P 500 all time high. I don't know why he's so fixed on this recession stuff. I'm just reading his text. I can put some in the net that says S&P 500 all time high recession imminent. So I'm just trying to figure out why. Joe, you're going to have to come up here and defend yourself, sir. Tom, you're still in the fire truck on the PA system. You can just use your phone if you want. That's just my audio blue to regular vehicle. Does it sound super like Darth Vader style? Yes, exactly. How about now? Is that better? Yes. Well, we have everyone's attention. I want to give a quick thank you to our partners. First off, Paladin tower tactics, check them out for professional firearms training at paladin tower tactics.com. Punch plate. I mentioned them earlier. Stamp your seed phrase on a metal plate punchplate.com. Solicitoshi open source Bitcoin mining solicitoshi.com and black sheep ammo. Terence, when you get that pistol or rifle, go to black sheep ammo.com and stock up on some ammo, sir. While we're getting to the top of the hour, you all have been very talkative this morning. So does anyone have anything they want to hit on that we might have missed or add any comments to anything? I just like to add one thing. I know something's working hard on a lot of projects, and one of them is knocking out that documentary for the Bitcoin vets, which should be coming, releasing here fairly soon. There's a promo video that should come out here prior before it, and I really hope you guys all enjoy it, because it's going to be phenomenal. It's going to go over everything that the Bitcoin veterans did in Nashville. It's really looking forward to that. I've seen it. It's kind of great. I agree. Wait. You saw the promo video, right? Yep. Wait, where could you find this promo video at? Is it exclusively on Noster? It's not out yet. The promo video has not released yet. We want to have the documentary ready for release before we drop it, but if you want to watch something that will really pump you up, that promo video will do it. I want to know how we can get clearance like Lisa has to get sneak peeks of videos that haven't been released yet. You have to change your name, Lisa, on it. Really, the benefit of being everyone on Bitcoin Twitter's mother is that people share all these cool projects that they're working on with me ahead of time, which I just love, and then I tell them how amazingly great they are because they are amazingly great. You haven't seen it all then? You're not in the exclusive club yet? I have not. I think I have to do some more time or pay my penance, donate some more sats, one of those things. Hopefully I can get there. Coleman, I just want to give you a shout out. You're doing the Lord's work here carrying the conversation when none of us are helping you day in and day out. Thank you so much, you and the Bitcoin veterans for putting this on every day. It's turned into my absolute favorite place to be for at least one hour a day. Sometimes you inflate the time to two hours. Sometimes on rare occasions, but thank you, Lisa. It does mean a lot, and I'm happy to do it. I'm happy to be up here. I think I mentioned earlier in this show. I've been watching from the sidelines for years now, and I wanted to be more part of it last year, but due to some things coming up, I wasn't able to. Being a part of this and being able to talk to you all, I'm more excited than you ought to be up here. I absolutely love talking to all of you. You all are like my personal heroes. I've been talking about you nonstop again for years, and now that you're all up here and I'm going to have a conversation with you. It's very surreal for me. But I do find today's episode very particular, just because I'm telling my wife that she needs to get on here and listen. So I see her in the audience, and I told her that it's getting easier. Everyone's participating more. Everyone's talking. I don't have to go through all of my notes as we can usually just hit one or two topics, and sure enough today, everybody's silent, so she's just hearing me rant. So, Crystal, make sure you tune in next week or tomorrow. Yeah, Coleman, and a good point. Please everyone on here listening, invite your mom or invite your girlfriend or your wife or your kids. They really need to be a part of this community. I know when I'm in, when I'm traveling, if I'm with some friends or whatever, and I'm on a Twitter space, everyone's like, but that on speaker, like, I want to hear that. So, if they're fun, get your friends involved. Absolutely. Well, I don't think we can top that. So I'm going to exit on Lisa's comment there. Get your mom. Get your friends to listen, please. So I want to thank everybody for coming on today and everyone listening in the audience. Death and Bitcoin. Joe, I see out there. Hunter. Guys, it means a lot that you're tuning in every day consistently. It really means a lot. And again, I couldn't do it without all of you. So make sure you tune in tomorrow, nine o'clock central time. It'll just be us again on the panel. And then on Tuesday, we're going to have punter Jeff come on to talk to micro strategy. Next Tuesday night as well at 7 p.m. Eastern time, the Bitcoin veteran podcast will be on. We're going to have Scott Willie of Paladin tower tactics joining us again. We had to reschedule that episode. But again, thank you everybody who's doing this. Jacob, again, I really appreciate everything you're doing in the background. Go out there, get on the mission, plant those Bitcoin seeds and go have a fantastic day. Day. [BLANK_AUDIO]