63: Grift Drains Bitcoin Gains

Welcome in to This Week in Bitcoin, episode 63. My name is Chris, chrislas.com, jupiterbroadcasting.com.

Just got back from the family road trip. And as per tradition, I do have a bit of a head cold. Of course, that's always the way these things go. But I did get a chance to reflect a bit on the show while driving. Lots of good thinking time. I think it's as good as like shower time, really. And one of the big things I kept coming back to was a goal with this show is to help us deal with a fundamental truth that we live in a late stage fiat society.

And there's a couple of really important things that come along with that. And one of them is if you don't invest some of your income, you're never going to get ahead. You're never going to live financially sovereign, at least not with just a W-2 income, unless you're like a, you know, a meta AI developer. Because your investments needed to return over 40% in the last five years to beat dollar debasement and cost of living increases. Or I'll put it another way.

Since 2020, the U.S. dollar supply has grown 40%. You got to be pretty smart to beat 40%. Maybe you did it with playing the stock market. Maybe you could. Maybe you tread water. It's complicated. And simply put, not something most of us have the time or energy to figure out. Job, life, things like that are plenty. But we can mine fiat and buy Bitcoin as much or as little as we want or can, when we can. And we're really the first generation to have access to this.

The generation's alive right now. And it's the hardest asset known to man as it's building out its network effect. As that network effect builds out, it gives all of us access to a life raft bit by bit. And I really think we're at a sink or swim moment. Like if you haven't wrapped your head around this, that it's about assets, not about your W-2, you're not going to be positioned for what's coming over the next five to 10 years.

And the reality is for Bitcoiners and those trying to navigate this, trying to become Bitcoiners, the noise is about to get so much worse. You might think you know noise. You might think you know distraction. Altcoins, ICOs, NFTs, ploy after ploy to suck up liquidity. And ultimately, they usually go and buy the Bitcoin that you should have been stacking all along. But what Bitcoiners have been navigating since the creation of altcoins is about to look like amateur league stuff.

The industrialized affinity scams and grifts are coming, and they are powered and backed by the new stablecoin legislation, emboldened, if you will. And you need to prepare to watch your heroes turn into villains. And it's bad. The pumping is bad. I'm going to do a little bit of this crap right now so we can get through it and move on. And we start with Tom Lee, one of the OG Bitcoin bulls on CNBC, and how far he has fallen as he becomes an altcoiner.

And this is some big news. It's kind of complicated, but probably suffice to say that you all are doing basically what MicroStrategy did with Ether. You're going to make Ether the purchases that you buy through this. You're going to set this whole thing up like this. You want to explain a little bit? Yeah, glad to. You know, I'm I'm still a big fan of Bitcoin because I think it is, you know, digital gold.

But what we've seen in the last, really in 2025, is the financial services industry and crypto are converging. And it really started with stablecoins, which is the chat GPT of crypto, right? Because it's viral adoption by... Stablecoins are the chat GPT of crypto? See, he starts losing me here. That's a real bad analogy. Started with stablecoins, which is the chat GPT of crypto, right? because it's viral adoption by consumers, businesses, banks, and now even Visa.

Underneath the stablecoin industry is Ethereum. That is really like the backbone and architecture of stablecoins. Ah, here we go. And I warned you about this. The legitimacy of stablecoins means it's going to have to legitimize some network they run on. Right now, Ethereum, because it has, I guess, the most history, it has some of the most industry support, it's the leading candidate at the moment. underneath the stablecoin industry is Ethereum.

That is really like the backbone and architecture of stablecoins. So it's important to create a project that essentially accumulates Ethereum to essentially protect and have some influence on the network. So that's why we're creating... Oh, there it is. This is why they don't care about Tether over Lightning.

Because in the Ethereum world, you can buy a big bag, you can stake, and, as he just put it, have some control over the network, which is the antithesis to what Bitcoin is about and why it doesn't appeal to them. There isn't a grift there. There isn't a spot for them to play the middleman if we're just doing tether over lightning. Architecture of stablecoins. So it's important to create a project that essentially accumulates Ethereum to essentially protect and have some influence on the network.

So that's why we're creating this treasury vehicle to buy Ethereum. the more Ethereum that's accumulated, the more secure the network is. And I think it's also sort of the architecture that future banks will have. You know, when Goldman issues a stablecoin and JP Morgan doing an Ethereum as a layer one blockchain,

they're going to want to secure it by staking Ethereum. So we're... So he thinks it's bullish for ETH because eventually it's going to be in all these different banks' best interests to accumulate a bunch of ETH so they have control and say over the network. What a horrible design proof of staking is. If you think about it, this just is designed for the rich to control the network from the very beginning. And that's the play we're

beginning to see here. They find that attractive. It's something Bitcoin doesn't offer them. We're trying to get in front of that by creating a treasury. Just so I understand, it's safer if you own more of it. Explain why that would be. Well, Ethereum is a proof of stake network. So unlike Bitcoin, which is proof of work, and miners do all the work for you, and that's why you have decentralized trust. In Ethereum, it's important for these entities to essentially validate transactions.

So by becoming a staking entity, you're sort of securing the fidelity of stablecoins. So you don't want a stablecoin like USDC or USDT to be on a blockchain that's outside the purview of the U.S. And so I think Ethereum is a high quality, the second largest blockchain network, and it's over 51% of stable coins and 30% of all fees on Ethereum are actually stable coin revenue.

The problem with the ETH bet, and you can see all the things that they find make it attractive, that they can control it, that it's heavily under the purview of the U.S. Those are all things that Bitcoiners don't like. It's just the opposite. These guys don't care about that stuff. That stuff they find to be beneficial. They love it.

It's the next best thing to owning their own blockchain, which we're also going to see an explosion of from different companies, banks, everybody that can afford an engineering team. at scale that's in the financial industry is probably going to launch a blockchain. And of course, Robinhood is right out of the gate launching their own blockchain, which is essentially a layer two on top of Ethereum. Ah, this thing, this thing here.

Well, that would be the blockchain in case you couldn't tell from my amazing sketch or blueprint, really. This is Robinhood's CEO dressed as a Bond villain giving a presentation about their new IRL assets on blockchain. Right now, it's Arbitrum, but we've been working on something really special. And it's still a little bit early, but I think there's no better time to share with you all than right now. Introducing the Robinhood chain.

This is the first blockchain optimized for real-world assets, from real estate to art to stocks, with the right technology and regulatory infrastructure needed to carry the entire traditional financial system on its back into the future. And our goal with stock token on the Robinhood chain is that in the near future, you will be able to seamlessly transfer your assets in seconds. If you thought what we saw before was a grift and sucked liquidity out of Bitcoin, we have not seen anything yet.

This is at a whole new scale. When they start putting real-world assets on blockchains and selling you tokenized exposure to real-world price action, I mean, this is going to suck up so much money. And your ability to trade will not be reliant on any individual broker or counterparty. So long as the blockchain is up and processing transactions, you will maintain access to your hard-earned access.

So long as the banks that own us don't make us force a shutdown or reversal of the blockchain, everything's good. Very, very important. I feel that as the benefits of this technology become increasingly clear in the coming years, the pressure and incentive for more and more firms to adopt it will continue to grow. So we'll continue to work with regulators and bring the entire Robinhood ecosystem on chain, starting with tokenized assets like stocks, perpetual futures, DeFi, of course, spot crypto

trading. And from there, we're planning to open the doors much wider. So, and we've been talking to a lot of the developers in the room about this already. If you're interested in being one of our first developers, we would like to open the doors much wider. So please reach out to us. Definitely reach out, guys. Reach out, you know, and get in on this. It's a move beyond Bitcoin, they say. You see that Bitcoin's a thing. It's a foundation of the crypto market,

but we're moving beyond Bitcoin. That's their actual line. They're actually saying that. I believe it will make it easier to invest in American companies if you're outside the world. It will also bring the markets into 24-7 and fully on-chain and get all the benefits that crypto technology levies on these traditional assets. So I think it's time to move beyond Bitcoin and meme coins into real-world assets that exhibit fundamental utility.

I think the most insulting thing is putting Bitcoin and meme coins in the same sentence. And this is going to be a whole new level of degeneracy. It's already risky and already a mess right now. Open AI distancing itself now from Robinhood's latest push into crypto after the trading platform started offering what they're calling tokenized shares of SpaceX, which, of course, is a private company to users, though. The users and I should say are only in Europe.

So this is not available to customers of Robinhood here in the United States.

In a post on X, though, OpenAI saying the following says these OpenAI tokens are not OpenAI equity. We did not partner with Robinhood. We're not involved in this. We do not endorse this. Told users, please be careful. Now, in response to... Now, before I go on, I want to remind you what I opened with. We now live in a end-stage fiat society where you need to invest to get ahead. And these corporations are essentially preying on that. They're vultures, and they're preying on that.

And they're getting you to buy into all of this stupid stuff when all you need to do is buy Bitcoin, hold the Bitcoin, and shut up. Buy the Bitcoin, hold the Bitcoin, and shut up. That's all you need to do. You don't need to buy some sort of tokenized exposure to SpaceX that's somehow linked to the price action of a private stock. None of that. It's ridiculous, and it's all a distraction. They want your money, and if you just go buy Bitcoin, they don't make a bunch of money.

The OpenAI's post, a Robinhood spokesperson saying, quote, these tokens give retail investors indirect exposure to private markets. Opening up access are enabled by Robinhood's ownership stake in a special purpose vehicle. We'll explain how this works in a moment. See, it's price exposure. What they're giving you on their blockchain is price exposure. It's essentially, you know, it's a version of ETFing everything,

but putting it on a blockchain. Robinhood stock hitting a new high on Monday when it made that new token and blockchain announcement. U.S. users, as we mentioned, cannot access these tokens because of regulatory restrictions. We talked to Paul Atkins, the new chair of the SEC, a little bit about this token issue. And so what's really happening, and you can speak to it probably even better than I can, is there's private companies, SpaceX, OpenAI, what have you. Those are not

available. Those shares are technically not available to the public because they're private. They don't have the same disclosure as a public company. What a whole number of companies are doing, including Robinhood, is effectively trying to create almost like a derivative of the underlying asset. They own the underlying asset through oftentimes a special purpose vehicle or some other kind of mechanism.

And they're saying, we're going to basically break that special purpose vehicle up and then we're going to into pieces. But not really because we're going to keep it. We're going to create sort of derivative pieces that track. It's almost like a tracking stock of that. I just don't understand the appeal. It's risky. There's multiple levels of risk in there. The third-party risk is insane. But it's coming. And they're going to target newbies so hard.

The wife and I received a text message while we're on the road. Hey, what do you know about XRP? This is from a family member, and this is the second time something like this has come in. total no-coiners. They don't know anything about crypto. They've probably heard the word Bitcoin before. They've never bought any Bitcoin. They've never done any of this. They hear about XRP and Ripple, and they want to buy some. And I've really, I've wondered, how do they get exposure like this?

And it is through certain media. I'll talk about that more later. But I asked her, I said, you know, this is, I explained what it all is and what a scam it is. And then I said, you know, do you mind telling me how you found out about this. And she said, quite honestly, there's a person at her church that is the Ripple person that's telling everybody to go buy some Ripple and XRP. And it's these trusted sources that people tune into. And so it's interesting when you see the different

financial press outlets start going in a new direction. And there definitely is a big shift. The hyping of the altcoins has begun. And CNBC plays their role. The Wall Street Journal plays a role. They all play a role. And they're platforming everybody they can to talk about everything but Bitcoin. CNBC brought on Ethereum's co-founder, which is gross that there's a co-founder. He's the guy that did like the business side of stuff and set up consensus and all of that.

He came on. He is super low energy and he's able to essentially define the Bitcoin value proposition, but then struggles to define the Ethereum value proposition. And he's the co-founder. Ethereum catching the attention of major financial institutions which are increasingly building on the blockchain and processing about 24 million transactions daily The rise of tokenization and stablecoin hype also helping Ethereum link stocks Joining us now to discuss the crypto market is Ethereum co

This is a funny thing they do too. Did you hear it there? She said the hype, the hype around all this. You're creating the hype. You're creating the hype. The hype around all of this is leading to a pump. Yeah, because you're hyping it. Million transactions daily. The rise of tokenization and stablecoin hype, also helping Ethereum link stocks. Joining us now to discuss the crypto market is Ethereum co-founder, Joe Lubin. Joe, welcome. We were talking about this in the break,

what's going on with Ether. If you take a look at the ratio, Ether to BTC ratio, it's been pretty much coming down for the past few years. Why is that? Why do you think there's that discrepancy? So Bitcoin has had a very clear narrative and it's got a value proposition that people can understand and get behind. It had Michael Saylor doing a really good job

growing the brand and buying lots of Bitcoin. And Ethereum, so Bitcoin's value proposition is now, Ethereum's value proposition has been perceived to be in the future. I think it's a little bit dismissive to say it's Michael Saylor alone. That's kind of a pathetic cop-out. But the recognition of digital gold, I think, is accurate. Ethereum, though, he says, Ethereum's proposition is about the future. We've been building scalable infrastructure layers of enabling infrastructure.

So they've been building scalable infrastructure that nobody uses. For about a decade, anticipating that all the activity of the internet and the web will move to Web 3. Oh, Web 3. So we're still on Web 3. 3 is really the natural evolution of the web protocols, sort of a re-decentralization of the World Wide Web. Can you believe after a couple of years, they haven't come up with a better narrative? They're still pushing Web3 from the consensus place, the Ethereum founders. Really?

...of the web protocols, sort of a re-decentralization of the World Wide Web. So Ethereum is scalable enough, affordable enough, legal enough in the United States. It's legal enough, you know. That's one of the things I always say. It's a great investment because it's legal enough. I can't believe they're not better at this. First of all, none of these finance pros want a decentralized web. They love Amazon. They love the Meg7. They love centralization.

They're only interested in stable coins and then centralizing the control of the Ethereum network by staking. That's the only value prop they find in Ethereum. And this guy can't figure out a way to spin that into like some sort of positive narrative that's approachable to people. He's still talking about Web3 and decentralized websites. Of the web protocols, sort of a re-decentralization of the World Wide Web. So Ethereum is scalable enough, affordable enough, legal enough in the United States.

It's very usable right now. Yeah, as long as you don't mind paying the gas fee. The applications, and we haven't had the consumer end users and the enterprise end users because former chair Gensler made it really unattractive to use. I see. I see. It's Gary's fault. If it wasn't for Gary, we'd have more ETH users. But now that Gary's gone, I see. That's it. That's the problem.

Because former chair Gensler made it really unattractive to use tokens or issue tokens or build applications in our ecosystem. So that is all behind us. I wonder why. I wonder why it was difficult. I wonder why he made that challenge. Hmm. Okay, but this regulatory clarity, the stablecoin bill, it's not actually been all bad for Bitcoin.

In fact, it does seem to be accelerating the amount and number of companies that are trying to buy Bitcoin as fast as possible. Welcome back. Bitcoin marching back toward its all time high. That was around 112,000 and we're just 3K below that level right now. But when prices dropped back in April, some big buyers seem to have bought the dip. A new piece on dot com looks at how for the third straight quarter, public companies bought more Bitcoin than ETFs did.

So will this be a lasting trend or is it just temporary fad boosting prices? Taneya McKeel wrote that story. She joins me now. This is fascinating. And I sympathize a little bit. I think it was Scaramucci who said this. He goes, look, if you want, if you as the investor want Bitcoin, just buy Bitcoin. Why do you need to buy a company that buys Bitcoin? But anyway, over to you and what trend we're seeing. Yeah, Kelly. Well, thank you.

So we looked at data that shows public companies collectively grew their Bitcoin holdings about 18% in Q2, while Bitcoin balances tied to ETFs showed growth of just 8% in the same period. And as you said, this is the third quarter in a row we've seen Bitcoin buying by corporate treasuries outpacing that of ETFs. And it's, of course, evidence of the regulatory relief that the crypto industry is enjoying under President Trump with his executive order earlier this year to create a Bitcoin reserve.

This, you know, basically telling the market Bitcoin is here to stay. Many no doubt saw the green light to try to pursue the micro strategy playbook of becoming a Bitcoin holding company to reap similar benefits. With the uncertainty we've had in the market this year, this trend is not a total surprise. Institutional buyers seeking exposure to Bitcoin through ETFs. ETFs, that's a different game from public companies trying to accumulate in order to

increase shareholder value. So these corporate purchases aren't driven by the macro trend or by sentiment. Is this a lasting trend, Kelly? Probably not, based on the conversations I'm having. That's an interesting point. These Bitcoin treasury companies, is this a lasting trend or are we seeing a burst now? And then they'll kind of slow down because, first of all, they can only

get access to so much money. And second of all, the price will eventually go up. But if we have these companies that are just snapping up Bitcoin like crazy, and the ETFs actually still have pretty good inflows, even though they're not matching the corporate buying, still have plebs that are DCAing, it's causing some people to ask, well, why isn't the price going up? Why aren't we seeing the price take off? And there's theories out there. Of course, whenever this starts happening,

there's theories of paper, Bitcoin or whatnot. There's a post on Stacker News that got into one of the more popular theories. And it writes, they write, amid all of this obsessive discussion on why Bitcoin's price isn't moving despite all the supposed buying, I've heard some people claiming that many OG whales are trading their old self-custained Bitcoin for the convenience of ETFs. The theory goes that these are not necessarily exchanges or transactions, but the keys are traded

for shares of ETFs. And this is also a theory that your buddy Tom Lee has been floating around. We know Bitcoin ETFs are the most successful product launch in history. And then someone says, well, if you're going to collect that much money, Bitcoin goes to the moon. But it turns out Bitcoin's risen, but it's kind of churned. I think what happened is a couple things. One is a lot of these ETFs may have been receiving in-kind exchange.

So people have their crypto keys, give it to the ETF provider, and then they just stepped up their basis. So that's not going to push up the price of Bitcoin. It adds to their AUM. Yes, it's a wash. And the second is that the ones who aren't involved in ETFs, but maybe they have $10 Bitcoin. We have clients that have bought Bitcoin at $100, and now it's $100,000. They're not looking to, they don't care if Bitcoin goes to a million. They are probably sellers at around $100,000.

So we're churning the base now because 95% of the institutional world doesn't own Bitcoin, but a very significant portion of Bitcoin holders are sitting on huge gains. So I think this is the churn that's happening in Bitcoin now.

I think that's likely true, although I don't really buy the theory that we're seeing a large amount of in-kind redemption. In other words, people trading their Bitcoin for ETF shares. I mean, I'm sure it happens, especially for those that are looking for the best loan options right now or somebody that just doesn't want to worry about tracking or taxes. I don't know. But I think as Bitcoiners, we always tend to overcomplicate this and we go for conspiracies and paper Bitcoin theories.

But the price isn't moving up because there's just not as many sellers at this price, which is pretty darn high. I mean, as of recording, we're only like 2.5% or so away from an all-time high. We have to remember that $100,000 of Bitcoin in USD is a major mental milestone for long-timers. These are big round numbers and they mean something to us. We just can't help. It doesn't mean anything to Bitcoin at all, but it matters to us humans.

And Glassnode published data this week that shows that the Bitcoin market needs $550 million a day of capital inflows to sustain the current trajectory. Half a billion dollars a day. That's a lot of money that has to keep coming in. I remember when Bitcoin hit $20,000 in December of 2017, I was actually watching the price, which you shouldn't do, but I was.

And that felt, it felt like, well, now that it hit 20,000, it's going to hit 100,000 one day. And it was so exciting. And then it crashed down to 3,200 by the end of 2018. And it didn't cross and stay above 20,000 again, I think until like the second or last, the later half of 2020. We hit $20,000 in December of 2017, but didn't manage to break and stay above it again for like three years. So don't look at the price.

And if you need another reason not to look at the price statistically, it seems that Bitcoin spends about 50% of the year not doing much price-wise. So don't watch it. There's nothing there to see. But I have a question for you, too. Do you think maybe one of the theories I haven't seen floated around, but I think, and I wonder if you agree, is that maybe we are seeing the market reprice the likelihood of the U.S. establishing a strategic Bitcoin reserve. I'm getting a little skeptical.

Are you getting a little skeptical? I mean, what has Lama's really gotten done? Right up towards the end of the passage of the big, beautiful bill, she made noise about sneaking in tax breaks. Went absolutely nowhere. Now she's making noise about like a tiny, like if you spend like $300 or $600 or something like that, that won't get taxed. But like literally nothing she's really promised to Bitcoiners has happened. And what we have seen is legislation that's pumping altcoins.

So she believes Congress might soon start buying Bitcoin as part of her strategic reserve. She's saying she's going to try to make it happen. But meanwhile, her own colleagues in Congress are pushing to investigate El Salvador for doing exactly the same thing. Senate Democrats last month introduced Bill S-2058, which targets Bichelli and his administration. They want wallet addresses. They want exchange records. They want investigations into possible

sanctions evasions using Bitcoin. Essentially, they're accusing El Salvador of corruption because they use Bitcoin and they stack Bitcoin. Senate Bill 2058. I'll put a link in the show notes. So you've got part of Congress labeling Bitcoin as a tool of corruption. And then you've got Lum is saying that they're going to go pass legislation to buy and create a strategic Bitcoin reserve, buy up to a million Bitcoin and store it for 20 years. I'm getting kind of skeptical

of that promise. I know they said stable coins and market structure act and Bitcoin reserve, but I'm not seeing a lot of gas in this tank. So boost it and tell me if you still think there's going to be a Bitcoin strategic reserve, or if you're getting skeptical like I am, and you think it's probably not going to happen. And maybe we're seeing the market price the risk of that in. One thing's still clear. We definitely still have the information advantage. This is interesting.

Bitcoinperception.com published a large amount of research and I'll link to it, but here's the executive summary. Quote, mainstream media coverage of Bitcoin in Q2 2025 revealed a deeply polarized narrative landscape with 1,116 articles published across 18 major outlets. The overall sentiment tilted negative at 31% positive, 41% neutral, and 28% negative, masking dramatic divergences between the outlets. They say perhaps the most striking was the near

silence from elite financial publications. The Wall Street Journal published only two Bitcoin articles, while the Financial Times managed 11 and the New York Times also 11. A remarkable absence is given to Bitcoin's status as the best performing asset of the last decade. And I think that is the lens to think about this. The best performing asset of the last decade, and they could barely

write any articles about it. In fact, they write that the New York Times and Wall Street Journal had many more articles about failing retail investments that totally bombed than they did Bitcoin. And there's a real impact here because institutional investors are relying on outlets like the Wall Street Journal and the Financial Times for their market intelligence and understanding of what's a mover and a shaker. And these are the outlets that are most underserving.

In fact, they say they systematically under-informed. Quote, while Bitcoin posted another quarter of outperformance, while companies added billions to corporate treasuries, while ETF volumes soared. The Financial Times, the Wall Street Journal, and the New York Times covered Bitcoin less than they cover quarterly earnings from declining retailers, end quote. The researchers are calling this the ostrich strategy. They're just burying their heads in the sand.

And they're saying they're causing a self-inflected media irrelevance. And there is a real strategic implication. Quote, elite financial media ostrich strategy creates massive information asymmetry. Institutional investors relying on the Wall Street Journal or the Financial Times for market intelligence are systematically under-informed about transformative asset classes. There is a strategic implication there, and it shapes their worldview. But it's to our advantage.

If you're listening to this, you have information asymmetry over them. And it's ironic, because if you're investing and you're moving a lot of money, it's on you to do proper research. It's not on autopilot anymore. Maybe it was really easy for the last 30 or 40 years. But what's crazy to me is that's changed. And it's their responsibility to figure it out and do proper research. And it's not even that hard. Just go find a good podcast to listen to and stay informed.

It just shows you how little effort they're even putting into their investment research. You know, if an investor is only getting their information from like these legacy dinner party directed editorial boards, yeah, they're going to miss the next thing. It's really something. So it's just, it's a really good bit of research. They break down and they have visualizations and charts of the different major outlets and the way they covered Bitcoin. Definitely worth your time.

Well, coming up, your boost. I have some updates, some big news for the show too. A final clip of the week and, of course, a song of the week. So I'll just mention you can support the show by doing what you probably already do.

If you want to buy sats on river, it's one of the best ways to stack sats in the US, use our link support the show that way If you all about self you in Canada or the US the Bitcoin well is the way to go And if you want to spend your sats via Lightning it Prime Day after all the Bitcoin company they convert Lightning sats into gift cards instantly No login required You can log in with Lightning and they only do Bitcoin. If you want to stack sats while you pay bills,

use your debit card, things like that, the fold cards, the community way to do it. I love it. I use it. Link in the show notes to support the show. And last but not least, you want to get access to some of your Bitcoin value without selling it. Salt Lending offers loans at all amounts. That's who I use. Links to all of that are in the show notes. And we do have some boost to support the show this week. This is a value for value podcast. I put it out there for free.

If it's useful for you, I ask that you send the show a boost. Not only do I love the messages, but it's a great way to support the show over the Lightning Network. And anything above 2,000 sats, I read on the show. And Derivation Dingus is back. And he's our baller booster. Hey, rich lobster. He comes in with 72,222 sats and writes, I've been trying to boost forever, but I've just been so dang busy. My favorite Bitcoin show, stay humble and stack sats. That is great advice.

It's good to hear from you, Derivation. Thank you for boosting it. I've missed you. I appreciate you. You make me want to be a better man. JQ3 is a hot ticket with 30,000 sats. I like you. You're a hot ticket. I sent these to my fountain wall for my self-hosted Albi Hub, which is awesome.

Nicely done. Yes, sir. I wish there was a way to boost directly from there. So much to learn. Keep up the great work. Well, J-Cube, if you have the Albi extension installed and connected to your Albi Hub, you can go to the podcast index and find This Week in Bitcoin on the podcast index. Find the episode and you can boost from their page if you have all that hooked up. and it will go just directly from your Albi Hub. I think Fountain makes it real easy too, but that's totally an option.

And if you try it, let me know how it goes. Thank you for the boost. Mug Daddy's here with 25,000 sats. He's got thoughts on boomers. He says, well, they're mostly already retired. I think the biggest economic situation is that they are dying and leaving stuff to their kids. I don't know what this kind of macroeconomic effect will have, but I bought my daughter a Lincoln town car for less than 3,000 Fiat bugs, well below the theoretical

blue book value. I'm wondering if this might be some sort of weird deflationary effect as Gen Xers inherit the crap they don't want. Interesting. Interesting. Yeah, I have thought about that. You know, so the boomers are a very large generation. They're at least 20% of the U.S. population, if not more. They still represent something to 60 to 70% of home purchases right

now. So they probably have some of the most disposable income, right? If you look at who's taking some of the higher end cruises, if you look at who's buying jewelry right now, it's boomers. And so a lot of them are still alive and well and very much in the market buying things. My folks are, you know, in their late 60s and doing well, thankfully. And I think they'll be around for some time. So it'll still be a while before we inherit the millennial generation,

which I guess they call an elder millennial. I advocate that those of us from the early 80s We should have gotten our own generation, but that's a different topic. But I do think there will be some very interesting macroeconomic implications as that process begins. He also wanted to boost again because he wants to challenge Aon BTC to a bare knuckle fisticuff. I mean, he just wants to talk. Make it so.

Yeah, that is the individual who is now creating a block list for those of us that are running Bitcoin knots. Thank you for the boost. Appreciate it very much, Mug Daddy. Grekar is here with 20,000 sats. He says, thanks for the high signal as usual and have a great summer trip. Thank you. We did. And the only thing that went wrong is the blinds fell down in my dinette. The Washington I-90 road is just too rough. And it's just, it was rough on the rick. Other than that, she survived.

The kids had a great time. We got lots of swimming in. And it was a great trip. Thank you, Drekkar. Appreciate that boost. Cardboard Warriors here with a row of ducks. 2,222 sats. I tune into Noagenda to block out the media noise. And I tune into Twib to block out the Bitcoin nose. Noise. Nose. Ha, ha, ha. Stay humble. Stack sats. I have a bit of a Bitcoin nose right now. As my grandpa used to say, I have a nose full of nickels. And now the saying in my house is, I have a nose full of sats.

I don't really know what it means, but we thought it was a nice homage to grandpa. So for the last couple of weeks, I've got a nose full of sats. That means I have a stuffed nose. Thank you, Cardboard Warrior. Appreciate you. Ace Ackerman's also here with the Rodex. I predict lower than 2.1% inflation. The orange man is correct. Okay, thank you. I asked you to come in and I asked you to put your inflation prediction by the end of October on the record.

And we, okay, so that's the first one we have is from Ace. And he says it's going to be lower than 2.1. I'm checking in right now. And I was talking about the year over year. And right now, according to the Truflation dashboard, the year-on-year is 1.66%. The inflation rate is 1.66%. I think the Fed is saying something like 2.4%, at least the BLS is. So Truflation is showing inflation down right now. So if that trend continues, Ace, you will be correct.

Hello there is here with the Spaceballs boost. That's 1, 2, 3, 4, 5 sats. So the combination is one, two, three, four, five. And he says, may the Schwartz be with you. Smoke if you got them. Ha, thank you. You know, hello there. I tried to get my eldest son to watch Spaceballs over the break, and he noped. He noped. He said, Dad, it's too old. I thought, okay, he's not ready yet. So I pivoted while I still had him to Fifth Element.

And he enjoyed Fifth Element, so I still kind of feel like it was a win. But I would have loved to have gotten a good Spaceballs watch in there. You know what I mean? I'll save it for, you know, some older friends. Maybe when he's a little bit older. Thanks. Hello there. Appreciate the boost. Hey, look, Gene Bean's here. Hey, Gene Bean. He's here with 6,666 sats. Thank you for helping us help you help us all. He says, would you get the BitBox O2 Nova or the Jade Plus?

I think I'd probably get the BitBox O2 Nova because the Jade Plus still does depend on some server-side functionality for complete functionality. Not that I think Blockstream's going anywhere anytime soon, but I like to think of these cold wallets as a 10-year device if possible, and I just don't love the idea of a bit of dependence on a third-party server. No shade. You're doing very well. He says, I stumbled across Shopster tonight and wanted to get your take on it.

It talks about using Lightning and Cashew, and I was hoping maybe you could explain Cashew and its place in the ecosystem, as I don't get why you would use it over Lightning. Ah, well, that could be a dedicated episode. But, you know, think of it like this, Gene. It's sort of like Liquid. There are reasons where you might want to move funds around and not have to worry about fees or having a channel.

And it's much simpler to use something like Cashew than set up a lightning node, open channels between people. I think a good example is like I actually move sats between me and the kids using Liquid for the most part because I don't want to pay the fees. and then when they move it out to their cold storage is actually when I put it on chain. So I think that's something you could think about, but I'd be happy to go into more detail on Cashew because I have been wanting to.

And he says, check out Shopster. It's, as it sounds, a shop STR built on top of Noster. And then he says one more. I'd love to get your take on this Coindesk article about the mempool being empty. And I did get a chance to read this. I was surprised they went so hard on the fear mongering. That was something. And they cite this expert who says that the low activity is an evidence of lack of retail participation in the Bitcoin market and that it could be a risk for the Bitcoin market.

This is, I guess, his name was like Jiao Wedsen, the CEO and founder of Crypto Data Platform Alpha Radical or Tactical or something like that. And he says, quote, when mempool transactions begin to rise again, it's a clear sign that retail is back because the growing backlog reflects increased demand for using the network. I don't really understand why this is a problem. I think this is exactly what we expected. A lot of retail moved to the ETFs.

And when the ETFs launched, I kind of joked that you could really think of them as a theoretical layer two. Not technically a layer two, but in that they will take volume off of the main chain.

I think also the success of lightning is playing a role here. I will post, if I remember, I will post some lightning stats, a link to some lightning stats in the show notes. But if I don't remember, it is 1ml.com slash statistics. 1ml.com slash statistics. And things are, you know, they're looking really good overall. There's been 57,580 lightning nodes observed. You look at the channels, they're all pretty good. The capacities are pretty good. They've come to a pretty reasonable spot.

Transactions are pretty high. Network capacity is pretty good. So there is a lot of volume happening on Lightning. And that also plays a role. So I think you have the ETFs. You have a lot of volume. But also, you have people that are hodling. The value proposition is becoming more and more obvious as Bitcoin increases in value. It was only a few years ago that the main narrative was it should be a PayPal replacement. It should be used for online transactions.

Newegg accepted Bitcoin right on their site during checkout. You could buy your entire Newegg shopping cart. If everything was sold by Newegg, you could buy all of it with Bitcoin directly on-chain. And they weren't the only retailer. I bought Expedia tickets directly on-chain using Bitcoin from Expedia.com because it was going to be the PayPal replacement, right? So then we saw a lot more volume.

But you really have to appreciate that this is an organic thing where the usage ebbs and flows based on the user base, the dynamics at the time. And so you can't look at previous periods where we didn't have ETFs or we didn't have Lightning or we didn't have the value narratives that we have now and compare and contrast them. It's just not the same anymore. So I don't really spend much time worrying about it because I expect over the long term we're going to see things turn around.

simply because we're in the building phase right now. The interstates aren't fully built out. They don't even necessarily connect. The off-ramps and on-ramps aren't finished yet. So we don't have a lot of cars on there. There are some folks that are road tripping, but not everybody, you know? It's going to take a while before it's really heavy volume because simply it's not done being built yet, you know?

And I think also if you have a lot of people switching over to ETFs for retail purchases so they can buy small amounts in their existing brokerage accounts. That'll reduce on-chain volume. The question is, is what causes it to turn around? What would be the catalyst to increase that volume? I'd love to hear your thoughts on that. This is a tasty burger. Thank you, Gene. Oppie 1984 is here with 6,000 sats. Boy, they are doing a lot with mayo these days. He says, I hope you enjoyed the vacations.

Well-deserved. Second, on Ace's thoughts on the Amazon coin. I agree with his assessment, but I think the real play will be interest. They will treat the Amazon coin like gift cards where you deposit money with the company and redeem it later. And that in between time, the company is occurring interest. Starbucks is rivaling some banks with their gift card interest bearing holdings. And I'm sure Amazon is not far behind them. Ha ha. Yeah. Yeah, I got answers and I want some questions.

He also sent 2000 sats to our song artist last week. Thank you very much for that, Oppie. I appreciate that. Okay. Okay. I'm going to go for it. I'm going to give this one a go. We'll see how this ends up. Chance of Dizzy Spells boosts. Hey, I got it. Look at me. I got it with 3,000 sats. Appreciating your time, summarizing the important information, news and events, and saving my time. Payday, so here's some value for your value.

I hope you and your family have a great holiday. Thank you very much. I appreciate that. Nice to hear from you, Chance. Clarkian's here with 5,000 sats. Everything's under control. Song Boost sends some value to our artist. And User 12's also here with 5,000 sats. Danger Zone. Thank you, Chris, for all your hard work and content. It's always entertaining and a good listen. Hey, good. I'm glad to hear that. I'm a low-key holder working my way up to running a node someday. Danger Zone. Go for it.

Run a node. It'll make you be a better man. You make me want to be a better man. That's really great. I'd love to hear it if you go for it. I think you're going to love it. Just you'll learn more. You'll understand more about the Bitcoin network, and you're going to feel more empowered. and you're going to feel more confident in Bitcoin too. Do it, user, do it. HDW39 comes in with 15,000 sats. Thank you for helping us help you help us all. HDW writes, thanks for the great signal.

Enjoy your road trip. Interesting to hear about the BitBox review. I wondered what you recommended signing device would be to complete the triangle of Sparrow and Zeus. I'm sure many listeners use ColdCard as I do. I like their model of trying to do one thing well and that's it. Just store keys safely offline. No app, no Bluetooth. You're doing very well. Safe travels. And whatever you do, be careful. Don't get in a boat. Accidents can happen. Yeah, you're right.

I need to go on a vacation where I have a boat ride. And I think maybe I'll do a Bitcoin demonstration out on the boat, like a key signing demonstration out on the boat. I think that'd be really useful for my family. Yes. Good, good. Yes, good idea. Yes. Thanks, HG. Appreciate that. Thank you everybody who boosted in above the 2000sat cutoff and below. Even the ones that come in below, I do read and keep in the show notes forever. I saw user59 came in with an inflation prediction.

Appreciate that. We had 46 of you stream sats as you listen to the show, which is pretty impressive because collectively you stack 60,470 sats for the show. Just stream it as you listen. I really appreciate that. When you combine it with them boosters who sent a message in, we stacked a total of 268,390 90sats. Not too bad. That is over the last two weeks, but I appreciate those of you who sent in a boost.

It really does make a difference. I tell you, when I see those come in, even after a vacation, I got a little head cold. You see those come in and it's truly motivating. That's something that even bigger than we talk about As a content creator seeing the value come in directly from the audience is very rewarding compared to say like a sponsor relationship that opaque and behind the scenes and you don't ever know any of the details.

So if you'd like to support the show, a boost is the best way to do it. It is a way to send value directly over the Lightning Network to the show. Show people that Bitcoin is getting used. And of course, you can attach a message with that. Fountain FM makes that really easy because they host the Lightning infrastructure for you at fountain.fm. There are ways to do it with AlbiHub and Podverse or other great apps like Castamatic, which is fantastic on iOS.

So just go over to podcastapps.com and try them out. See which one works for you and then boost in the show and support us. Or get AlbiHub and do it from the podcast index. All of that is much appreciated. Keep the show going. Well, I did the right thing right before I left for vacation for over a week and changed the entire back end of the show. You know, like you're not supposed to make changes on a Friday. I did the ultimate version of that.

I made huge, sweeping changes to the show's infrastructure right before I left on vacation. And thankfully, for the most part, with the help of the Fountain FM team and West Payne and others, it went pretty darn well. And now This Week in Bitcoin is hosted on Fountain FM's new podcasting 2.0 hosting infrastructure. And there's a couple of positive ramifications for the show that I just thought I'd let you know about. Number one is I'm already seeing better integration with the Noster comments.

So I've been able to respond to some of the comments that people leave on the show on Noster. And it brings it right into my Fountain FM dashboard. So I'm getting more feedback into the show. Also, it enables something new that the Fountain team is working on. And it's a set it and forget it auto support with SATs or Fiat. Your choice. You get the same benefits regardless. Right now, I've turned this on and those benefits extend to a profile badge that says you support this show.

And I've had one other person. So we'd have a grand total of two subscribers that have taken me up on this. But as I collect your feedback, in the future, there will be bonus episodes.

that automatically become available to those who subscribe and I believe will be unlockable via a boost, which is kind of a neat way because I have been trying to think for a long time of a way to make the show sustainable that doesn't necessarily require sponsors because I think that's the healthiest route possible for a pure new show in this space. And it's something I'm still navigating.

But if I could make great content that you feel is worth unlocking with a boost and gives you an opportunity to support the show in another way, I think that could be a win. Or if you want to just subscribe and put your support on autopilot and just get the content and support the show as it becomes available, that seems like a win. Currently, Fountain FM's podcast client is the only one that supports all of this and gets you access to this stuff. But they've built it all using open standards.

It's all built on top of Lightning and Noster. You don't even have to use Noster. You really don't even have to engage with Lightning because you can use Fiat and it'll do all the rails for you. But the way they built it, any podcasting 2.0 app could implement support if they want. There's nothing proprietary to Fountain here. And it's all based on just what's in my RSS feed. If you haven't tried out Fountain in a while, they have had a lot of major improvements inbound.

Performance fixes, UI fixes, features. I've been meeting with them for over a year, nearly every week, giving them feedback. I'm running their latest beta right now. And it's a major improvement. UI stuff is better. There's a setting now to go right to your podcast feed, if you're a member. And the performance has improved. Outside of all of that, they're making a big push to move forward some of these standards, like Lightning and the podcasting 2.0 features.

Because that's the other positive impact that's going to be on the show, is they're just continuing to build out the podcasting 2.0 stuff. And Twib is making an impact here. This Week in Bitcoin is helping push these platforms forward.

They seeked us. They wanted us on this platform because with your help, we're helping build out these standards. We're helping these platforms become the best they can and push them forward. And now Fountain's created this open way to support shows via membership with bonus content features, early releases of some podcasters are doing using lightning. That's really exciting as a content creator. And it's something I just, I want to play with.

And I wanted to have some kind of bonus content ready right now so I could announce and you can go try it now and play around with it because this is really exciting. But the recent trip sort of made the timing of that kind of impossible. So instead, I figured, why not ask you, since I've got you right now, what kind of bonus content would you like to hear? Let me know. Cashew could be one. You know, liquid could be another.

I'm thinking something hyper-focused could be a story, a topic, could be a revisit, something hyper-focused, in-depth that you're, you know, going to get value from. So I'd love to hear some of your ideas on that. And it's exciting to try out the Fountain platform. It's as of the last episode, we've been publishing on the new Fountain platform. And I think it's been pretty robust. It's working pretty good. And if anything changes, I'll keep you informed.

But your buddy, Scott Besant, the Treasury Secretary, has been floated as the possible next Federal Reserve Chair. And he was on Fox Business, and she put the question right to him. This would be something that has happened, I believe, once, but it's possible to have the Treasury secretary also be the chair of the Federal Reserve, which would essentially remove any illusion of independence around the Federal Reserve.

So it would be a massive deal. And I don't think they're willing to commit to it happening yet. With those elections. OK, I want to ask you two about the Fed chair. The president has said this week, among other things, called Jerome Powell a moron. They are not besties at this point, it appears. There's speculation now that he may go ahead and announce a replacement for him way early since his term is not up until next May. Wall Street Journal reporting this.

An early announcement could allow the chair in waiting to influence investor expectations about the likely path for rates like a backseat driver attempting to steer monetary policy before Powell's term ends. you have demurred on whether you would be the guy for that job. But what do you think is the impact of all of this, this public back and forth with the Fed chair? Well, Shannon, I'm a basketball fan. And in basketball, there are two schools working the refs. There's the Bobby Knight School

and the Dean Smith School. Obviously, President Trump's more in the Bobby Knight School. And I will tell you, Bobby Knight won three national championships. Dean Smith only won two. So working the rough seems to be effective. I don't think that's a good analogy. And I think the reason he used that analogy is he expected it to go right over her head. Unfortunately, she completely caught that analogy and turned it back around and he was not ready for the turnaround. Take a listen.

Three national championships, Dean Smith only won two. So working the rough seems to be effective. So there may be some chair throwing. That's what you're saying. There might be some chair throwing if we're going with the Bobby Knight School of how this is done? I think about this. There are good candidates already on the Fed board for Fed chair,

and they make their opinions known at every meeting. So I don't find that disruptive at all. Okay. Mr. Secretary, great to have you with us. Thank you so much for the time. That's not really a no. That was not really an answer. His answer was, well, we have other people voicing their opinions. That doesn't disrupt. So if there was a Fed chair picked early and he voiced his opinion, that wouldn't be disruptive. I guess there kind of is an answer in there.

Okay, so I thought this was noteworthy. I don't normally cover this type of stuff, but it seems that attackers have targeted Bitcoin wallets from a long time ago. In fact, ones that may be connected with Mt. Gox. They've launched a phishing attack aimed at Bitcoin wallets holding more than $8 billion in Bitcoin. Of course, that'd be a great problem to have,

wouldn't it? This is coming from BitMEX Research, and they've identified, which is essentially an attempted scam, noting that attackers sent an op return transaction and embedded a message to the wallet's address. Essentially, the message says, we think this Bitcoin wallet has been

abandoned, and our client is trying to verify that. It contains a link to a suspicious website pretending to be affiliated with the defunct Wall Street bank, the Solomon Brothers firm, falsely says that the wallet appears abandoned and that they're looking for details because there's going to be like some sort of reclaiming procedure that's going to take place. And BitMEX says this is ongoing, that they're targeting multiple Bitcoin addresses that date

back to 2011. It's a legitimate ongoing attack and multiple older Bitcoin wallets from around 2011 have been confirmed to be targeted. It's fascinating. So they're putting a message in op return saying, and people happen to notice it, I suppose. I mean, it's rare, but maybe you see something come in on a really old Bitcoin wallet and it has a message that says, hey, we're trying to validate this is still active. I mean, it'd be a little spooky if you actually think about it.

I wanted to make you aware of some videos that could be worth your time. Europe's biggest Bitcoin conference, BTC Prague, wrapped up a couple of weeks ago. And the videos from that event have been trickling onto their YouTube channel. I think there's about 14 or so, maybe a couple of more than that, depends on when you listen to this. But it's the BTC Prog YouTube channel, and I'll put a link to that in the show notes. There's a few on there that I think are worth checking out.

And as you might guess, I've picked one of them up. sailor of course was one of the presenters it's a long talk it's his bitcoin getting to 21 million in 21 years talk but i did clip just a bit i thought was interesting because sailor addressed some common objectives that I hear. Like the first one is, I'm too late on Bitcoin. I hear that all

the time. Now, some common objections. You're going to hear these objections. You're going to hear more of them from all of your wealthy financial advisors or wealthy friends that are no coiners. And they're going to say things like, it's too late. It's too late. You did it. But if I'd done it back in 2013 or done it in 2020 or done it whenever it's too late. But here's what I have to say. Henry Ford decided to harness fire a million years after human beings discovered fire.

It was not too late. It's not too late to use the wheel. It's not too late to master explosives. It's not too late. If you need a gun and someone invented a gun 500 years ago, you're not going to say, well, I guess it's too late for me. Or how about English? Someone learned English before you. It's too late. It's an old language. I guess it's not that useful anymore. Or to fly. I'm not the first person to fly. There's another company in my town. They installed electricity. It's too late

for my company. After all, someone else installed electricity first. I don't really need electricity. is too late. Or the mobile phone, too late to use a computer, too late to get on the internet, too late to go to space, it's too late to buy a Bitcoin. Here's what they're missing. Bitcoin's technology is not a speculation. It's the ignorant speculators that think it's too late because they don't understand that it's digital energy, it's digital technology.

It's never too late to master technology. And I would leave you with the thought, it's never too late to do the right thing. I mean, it's very simple. Second big objection. Oh, it's a Ponzi scheme. It's tulip bulbs, blah, blah, blah. It seems too good to be true. The four most dangerous words in finance. This time it's different. John Templeton. Well, Sir John Templeton is not on the walls of MIT's great court.

They have Newton and Madame Curie and Einstein, you know, and Galileo, but they did not put his name up there because he's not a scientist or an engineer. And the point is, this is different.

Fire is different. Water is different. Wind is different. These things, guns, germs, when the spaniards show up in the new world and 90 of the native american indians die because of the germs it was different right these things are not the same john d rockefeller noticed oil was different if you're actually basing your strategy on a technology or a paradigm shift then in fact it is different. And the point here is Bitcoin is different. That's why it matters.

People that tell you it's not different, they don't understand it. Don't be swayed by them. let's check in on the state of the network before i get out of here wrapping up at block height 904 798 oh we are cooking we are cooking right now we are just down 0.3 percent from an all-time high current Bitcoin USD price is $111,660. That means sats per dollar, 896 sats to $1. Wow. Now we were at an all-time high at May 22nd. That's 48 days ago. Wow. We're really cooking since I started.

That's really something. Aha. Looks like our next difficulty retarget date will be July 12th, with an adjustment upwards of 6.8%, nearly taking out all of the downward adjustment we saw just recently. There are currently 22,829 reachable nodes on the network, and Bitcoin knots currently sitting at 13.5% of those nodes. How about that? Man, things are really hauling right now. The state of the Bitcoin network is strong. Don't worry about those low transactions. Fee rate one sat for V-Byte?

Go play with Lightning. This is an opportunity. Bitcoin Network is doing just fine. Well, if you made it this far, go check out the links at thisweekinbitcoin.show. That is over at the main Jupyter Broadcasting website now. Love to hear your feedback and ideas to what we can do to make that site better. Now, my goal with this show is to not get distracted by the emotions around what is happening or the noise. You notice we didn't talk about Jeffrey Epstein this week.

Some Bitcoin podcasts are going to get distracted by that stuff. We focus on the signal. Let me know how I did with the boost. and of course boost it with what you'd like to see from the show or maybe what you thought I missed. I always want to hear that from you. Now, I'm going to leave you with a brand new album. I think it just came out a couple of days ago called Bitcoin Block Party. There's a lot of great tracks over there. It's by QuickTune21.

And this week's track is Coins and Consequences. Go check out the full album. Link in the show notes. And I'll see you next week. They ain't read the white paper, just chase hype. Now they work in doubles, trying to fix they life. Coins and consequences, this ain't no game. If you don do your homework you got yourself to blame Yeah it digital cash but the lessons are real You gotta think long term if you want that meal I don gamble on hype I invest in code Study fundamentals Stay on the road

Buying dips while they crying at tops. In this crypto life, it's lonely at the spot. Coins and consequences. This ain't no game. If you don't do your homework, you got yourself to blame.

Yeah, it's digital cash, but the lessons are real You gotta think long term if you want that meal I taught Lil Bro, don't fall for the shills They got Ferraris now, but they play with pills This space full of traps gotta move with grace Or you'll end up wrecked in this digital race Coins and consequences, this ain't no game If you don't do your homework, you got yourself to blame Yes, digital cash, but the lessons are real You gotta think long term if you want that meal

Real freedom ain flash it sleeping at night Knowing your wallet tight and your moves was right So I stack slow let them flex in the bends I'm building real wealth that the market defends Coins and consequences, this ain't no game If you don't do your homework, you got yourself to blame Yes, digital cash, but the lessons are real You gotta think long term if you want that meal Real freedom ain't flash Sleeping at night Knowing your wallet tight And your moves was right So I sag slow

Let them flex in the bends I'm building real wealth That the market defends Coins and consequences This ain't no game If you don't do your homework You got yourself to blame Yeah, it's digital cash But the lessons are real You gotta think long term If you want that meal Homies, stop the dead time Homies stop the dead time Homies stop the dead time Homies stop the dead time We be right back Bomies, no se vemos! Bomies, no se vemos! Bomies, no se vemos! Outro Music