0:01Hailey Welch Journalists, podcasters, confidences, influencers. Only the intellectual silk road can destroy PodConf and bring balance to the world. We are taking a break from the scheduled programming to bring you a groundbreaking

0:30Hailey Welch interview where Richard Greaser interviews Podkom approved compliance influencer, Steven Luko. This is your smoking hot vape producer, Hailey Welch. Buckle up as you are about to enter the bugle curse.

0:44Richard Greaser Alright. We're recording, little bit of a shake up and, it is, schedule. Rod Ulmer is on vacation. He,

0:56Richard Greaser he needed some sun. He's out sunning his balls, having a good time, you know, on this, Labor Day weekend. And so today, joining me is Steven Lobka. How's it going, Steven?

1:11Steven Lubka It's going great, man. One of the biggest struggles in my life is that you know, when you look at the peer reviewed studies, there's just not, you know, our our our experts, you know, our our our published experts don't wanna endorse sunning your balls. And that is, it's just so painful for me. I I really wanna be in line with the research, but,

1:36Steven Lubka you know, it's a tough one. So so good on Rod and, you know, I'm glad he's taking care of his health. Hey, why do you think that

1:43Richard Greaser the experts do not embrace stunning your ball?

1:47Steven Lubka You know, they're usually so good and I've learned so much from them. They're incredibly reliable. But, you know, I think sometimes it takes a little bit to to catch up with with new research. I think they're I mean, honestly, they're probably just, like, very busy doing peer review, and they just haven't had time to read the papers.

2:11Steven Lubka And, you know, you have to you gotta hand it to them. I mean, they're doing their job and, you know, eventually, I think they will get through their, reading. Do do you think that, like, Charles Hoskinson

2:21Richard Greaser and Cardano in their attempts to just, like, flood the world with peer reviewed, papers is kind of like an operation to prevent the experts from focusing on more important topics like this.

2:35Steven Lubka A 100%, man. I mean, it is such a sacred thing to, to mess with in that way. Like, you know, it's one thing to, you know, issue issue shit coins. But to try to interfere with the process of peer review, I mean, that that's a bridge too far, man. It's he he's a he's a bad guy. I mean, you you don't you don't mess with science. I mean, science is, you know, the closest thing to religion that we have today. And,

3:08Steven Lubka you know, to to to make a mockery of our scientists by, just just forcing papers through peer review, I mean, it's sacrilege.

3:21Richard Greaser So yeah. I think typically on this podcast we're pretty anti PodConf. And that's like the reason why the People Weekly has been formed is to attempt to disrupt and even destroy PodConf. You kind of exist in the in the Podkoff ecosystem. I think you're tend to be pro,

3:45Richard Greaser Podkoff. What are your, you know, reasons for kinda aligning with these guys?

3:52Steven Lubka No. So I I totally get it. You know, I totally get it. I I I understand why there's some bad blood there. I I just think that you guys and I I don't mean this in a bad way, but, like, you've never run a a, a conference. You know? Like, you just you haven't run a Bitcoin conference, and that's totally fine. I'm not I'm not criticizing you guys for that. But when you run a Bitcoin conference, you realize that, like, your number one value, like, your number one focus I mean, it it needs to be compliance or everything just goes off the rails. Like, you have to make sure you have your approved list of guests, your approved list of speakers, that you have the right people coming in. Everyone's got a name tag. You've KYC'd everyone. I mean,

4:39Steven Lubka it it really would be terrible if, like, someone who did not KYC themself got into your Bitcoin conference. I mean, I've seen this happen. It was a disaster. And, you know, I, you know, appreciate you guys, but, you know, until the bugle has a has a bugle conference in the Bitcoin space, I just don't think you can understand the lived experience of Podkoff. So why why do you think that, like a KYC conference isn't right? Like, what's the benefit of it? Yeah. No. Absolutely. It's a great question. And I mean, if you think about it,

5:13Steven Lubka I think Bitcoin conferences are really the next level for KYC exchanges. Because what is you know, it's one thing to KYC your users through a third party. Right? Like, that's just kind of the bare bones minimum that you need to do. But, like, once you've already KYC ed them with a KYC vendor, I mean, you know, I I don't wanna just do the bare minimum, Richard. Like, I wanna I wanna I wanna be the best in the business. And so

5:42Steven Lubka I wanna know my customers. Like, I wanna sit down with my KYC approved users, and I wanna know them. I wanna have a cup of coffee. I wanna look at them. I wanna record exactly what they look like on a, you know, a hard drive that, we can store in the cloud. So, you know, having if you run a KYC exchange, I mean, you've gotta have a Bitcoin conference. It's like, you know, table stakes because you've got an I mean and and maybe there's some other ways to do it. Like, you could host meetups. I mean, Bitcoin meetups are very popular. You could definitely have a KYC only meetup. Get to know everybody. That's good. There's plenty of events. Obviously, you have to make appearances at other conferences. We were just in Nashville.

6:26Steven Lubka Those guys did a great job. I had an awesome name tag. They knew exactly who I was. Like, you know, my identity was fully confirmed. And I got to meet so many people that also had, you know, excellent name tags, great identification. I mean, the secret service was there. That was really one of the best parts in Nashville. Right? Like, you go to a conference and, you know, you expect to, you know, be identified, do a bag check. But, like, to have the Secret Service doing that, that that really just took it to the next level for me. I mean, chef's kiss, hats off.

6:57Richard Greaser So, I mean, the the whole Secret Service thing was kinda interesting. I think the majority of people believe that at least to certain extent or have the question in the back of their head, was the CIA responsible for shooting Donald Trump? Is there a potential that the reason why there was so much KYC at that conference was because they wanted to know, the secret service wanted to know who from the CIA was there and instead of trying to KYC

7:34Richard Greaser Bitcoiners, they were trying to KYC the intelligence agencies.

7:38Steven Lubka So like an internal intra agency KYC like, kinda competition. That I mean, I haven't heard that theory before. But, you know, I mean, I'm sure that is a point of tension between, you know, the various intelligence agencies is they probably don't have KYC

7:58Steven Lubka information on the operatives of other competing agencies. And I mean, that that is a vulnerability. Right? Like, I I I'd actually, like, you know, it's it's potentially a risk to democracy. Yeah. So, like,

8:10Richard Greaser when you're working with your clients, and you're you're focusing on clients, like you know that these types of intelligence agencies are like the primary non compliers. They're the least compliant individuals in our society.

8:32Richard Greaser Like how do you prevent like Mossad from like funding these clandestine operations from giving organizations like Moss

8:44Richard Greaser Bitcoin? How do you prevent the CIA from funding groups like Isis with Bitcoin? I think as Bitcoiners, we want to ensure that those types of activities where these terrorist groups are getting funded by intelligence groups, it stays in the banking system. We want Jamie Dimon to be the primary funder of that, we want to keep Bitcoin

9:13Richard Greaser for genuinely good non compliant activities like non non KYC cigarette transactions. We don't wanna be funding, the Moscow terrorists, for example. Like, how how are you focused on that?

9:29Steven Lubka Yeah. No. That's a great that's a great question. So this is why standard KYC procedures that most kind of, you know, companies in the industry use, like, really are insufficient. It might work for 99% of clients. But the moment you have somebody from the CIA

9:51Steven Lubka or a foreign intelligence agency trying to, you know, buy Bitcoin so they can do, clandestine, you know, actions, with with those coins. Right? This is where the standard KYC procedure just falls short. And, you know, as far as I know, I mean, this isn't required.

10:10Steven Lubka You don't have to do this to comply. But there's there's there's a there's a really interesting procedure you can use that we we call triple blind zero knowledge KYC. And so this is where instead of just what most companies are doing is they're going to one KYC vendor. And they're you know, we're submitting information and getting the thumbs up. Everything's good. But when you're dealing with, like, intelligence assets, what you wanna actually do is you wanna submit that KYC information to multiple KYC providers

10:43Steven Lubka and then validate the results against the other providers. And what you'll see is with intelligence operatives, you'll actually get, like, different results and different confirmations. And that's how you know that this is a created identity that, you know, they're feeding to the the, you know, the large big providers of KYC verification. But, you know, when you when you work with maybe some foreign KYC partners, you work with kinda KYC providers

11:11Steven Lubka that are outside of their purview and suddenly the results don't match up and that's how you flag it and that's how you make sure that everybody's safe. I think most people that use Bitcoin, they're kind of aware of this

11:25Richard Greaser type of strategy in the sense of like when you broadcast a transaction, like, you know, most people don't consider it valid until it has at least a few confirmations on the blockchain. So,

11:42Richard Greaser essentially, what you're suggesting for KYC is you need multiple nodes essentially

11:47Steven Lubka validating the information. Is correct? Exactly. You know, we need decentralization of KYC. Like, we need many, many, many different KYC providers independently verifying the proof of work of other KYC providers. And in this way, I mean, you can truly innovate

12:08Steven Lubka and, I think just have a massive breakthrough in, just just the the the positive impact of KYC and society.

12:18Richard Greaser Yeah. So I mean, why why have you chosen to to kind of align with, with PodConff knowing that, you know, there's there's such an, like, an emphasis on on essentially, like, being anti psych. Yeah.

12:32Steven Lubka I, you know, I know you guys aren't the biggest PodConff appreciators, but I just I just feel like, you know, like, let let let's let's kinda roll back the clock a little bit. Okay? Let's look at history. Right?

12:49Steven Lubka You look at the December, the thirteen hundreds, fourteen hundreds, and going on. And you see this, you know, this this sudden ramp, right, in the seventeen hundreds, the eighteen hundreds, the nineteen hundreds. Right? Like, global productivity goes up, quality of living goes up. We have these very interconnected societies, where the in the wealthiest we've ever been.

13:14Steven Lubka And, you know, I mean, that that's that's been the largest reduction in human suffering that we've ever seen. Right? Like, you know, the economic growth of the last couple hundred years has transformed the planet. It's given us advanced technologies, computers, Bitcoin. And, you know, you can really chart the start of that economic growth to, breakthroughs in licensing.

13:38Steven Lubka And this is really early KYC. Right? So when when you come into the industrial revolution, most people think that it's, you know, like, the factories and the production of goods, and, of course, that had a role. But, like, as soon as you have industrial capacity, you have to you have to work much harder on tracking, identification, worker IDs,

14:01Steven Lubka licensure, insurance, all of the pillars of our modern world. And, you know, we we have to, like, we have to give credit where credit's due and understand that, like, our modern prosperity okay. So so look at this. As

14:18Steven Lubka the level of surveillance, and the cost of compliance right? Like, companies spend billions and billions of dollars every year on compliance now. It's one of the biggest cost centers for productive enterprises. And GDP has been growing along with those compliance costs. So when I see that, I see a very strong correlation, that you can't ignore. Right? Like, those two things are are absolutely

14:47Steven Lubka statistically correlated. And, you know, it it's just it's just reasonable to look at the history of, industrial revolution and, Western civilization and just see that, like, compliance costs have just been hand in hand with economic growth. And, you know, I think PodCon gets that. So like my stance of where, you know, because I also wanna see GDP growth. Yeah. Of course. Well,

15:16Richard Greaser my my stance on it is I think there's gonna be more GDP growth from non compliant activities and engaging in the value for value ecosystem.

15:29Steven Lubka But I don't ever validate that. Like, you're telling me the noncompliant ecosystem is gonna produce GDP growth. But, like, how would we ever know?

15:41Steven Lubka You know? And then the statistics, I mean, the the official number would trend down. And if the official number trends down because all of the economic activity is taking place, outside of monitored channels,

15:54Richard Greaser well, that's a recession. Yeah. And and that's why I think there's it is important to have this, like, whole different set of, journalists like what we're doing at the Bugle to cover these topics

16:08Steven Lubka and represent it because you know, you I mean, you guys can come up with your own GDP reporting for non compliant activities and you can produce quarterly GDP updates from an approved council for noncompliant economic growth, like, then we're talking, man. But, like, I I need to see something that we can take to the FOMC. I think this is a really interesting,

16:32Richard Greaser line of thinking and I it might be something that you should focus on at the bugle is creating some sort of council to to track and measure. I mean, it's one of the things that's difficult, you know, is do you do you think that metrics that are used to to track compliant

16:56Richard Greaser economic activity like GDP, They're just kinda made up. You know, it just implies

17:03Steven Lubka a level of conspiracy among, you know, credentialed economists. Right? Like, it just for for for GDP to have been made up,

17:14Steven Lubka like, one has to assume as a starting point that, you know, these individuals that have worked their whole careers to get to the top of our, you know, official institutional structures, would have a motivation

17:31Steven Lubka to, to to lie. And I I just can't understand what that motivation would be. Makes sense. You know? So just from first principles, like, I I don't know that it makes sense. Well,

17:42Richard Greaser so, you know, compliance costs are going up and, you know, while the economy is doing fine, I think we can all agree that the economy is doing fine right now and that if you if you don't believe that, then you're probably a conspiracy theorist or Russian propagandist. But, with the with the compliance cost going up, I don't think there's a lot of companies that can afford

18:10Richard Greaser to be compliant.

18:13Steven Lubka Yeah. I mean, but that's I mean, that's capitalism. Right? Like, that's the free market. You know? If your business cannot cross certain economic hurdle rates. Right? Like, you know, for example, if you're growing less than the rate of inflation, you're actually losing. You're actually losing money. Like, your business is actually shrinking. And, you know, economists for a long time have acknowledged that that, like, you know, just just making money alone doesn't matter. You have to make money faster

18:45Steven Lubka than certain hurdle rates, and you need to be able to, like you know, I mean, you can cut corner corners to juice your revenue, but, you know, we know that bites companies in the ass. And compliance costs are just like that, man. I mean, that's just a fundamental hurdle rate that companies have to get over. Right? Like, if your startup can't afford millions of dollars of licensing, that's the market telling you that you're not that good. I mean, I think the easy answer

19:15Richard Greaser is like the companies that are operating some compliant to some level, pliantly, if they're having to look into the future

19:26Richard Greaser and see the potential for increased compliance. I think if anything, it's an argument to buy Bitcoin. Like these companies are going to have to have Bitcoin on their balance sheet in order to be able to afford being compliant.

19:44Richard Greaser And for the individuals themselves, I'm having a lot of conversations with people where they're seeing that the only path to be able to afford to pay taxes is to buy Bitcoin. Yeah. It's kind of the same thing here with client companies

20:04Richard Greaser in the

20:05Steven Lubka industry. Exactly. You know, like a company that can't afford to pay its taxes, like that's not a successful company. Like we all know that. It's the same thing with compliance costs. And like we do a little bit of venture capital activity And, you know, something I've been seeing recently in the latest crop of startups is, you know, you'll get a you'll get a you'll get a pitch deck. Right? And people are raising, you know, whatever they're raising, $10.20, 30,000,000. And, you know, they'll give you a breakdown on what they're gonna use those funds for. We're gonna spend, you know, 30% on marketing. We're gonna spend 15%

20:37Steven Lubka on kinda, building up the product and, you know, this and this and this and this. And, like, what I've noticed is that, like, they're not budgeting enough for compliance, and it's really biting these companies in the ass because, like, they get down the road, they build their product, their product's great, their users love it. Everyone's happy except for the regulators, and the company fails. And and, I mean, you know, it's just embarrassing that as an industry,

21:07Steven Lubka like, we're not investing enough in compliance to prevent these outcomes. Like, first, you need to get licensed and regulated, then you can build your product. What percentage of,

21:22Richard Greaser like the money that these companies are raising do you think should be dedicated towards clients department?

21:30Steven Lubka So I recently, read a paper from Harvard, and, it was from their economics chair. And they did a few simulations of economic growth, with different kind of percentage allocations to compliance. Like, if the global economy

21:49Steven Lubka that it takes 1% of GDP to compliance, 5%, 10%, 20%. And, you know, where we got to is what the what sorry. What the research showed is that

22:03Steven Lubka if 20% of all of the value of every human being on the planet, the total sum of all productive economic labor, 20% of everyone's work and time went to compliance, that would be optimal. 20%. Yeah. I I mean, I think one fifth of every hour you work, should go to compliance if you wanna have, you know, positive economic growth. There's some there's some people that argue it's more. Right? Like, I'm I'm not trying to, like I'm trying to give a conservative answer because I know this is a hot button issue. But, you know, you gotta look at it like if, you know, if you work ten hours,

22:41Steven Lubka two hours of your output at least should basically be, you know, paid paid in the process of compliance. Do you so like one of my my

22:53Richard Greaser concerns about this is, you know, companies that don't enforce compliance, they're gonna have an edge because they're essentially gonna be saving costs. Like how do you prevent organizations like that

23:12Richard Greaser from essentially out competing the compliant organizations by being able to save significant amounts of money. Yeah.

23:21Steven Lubka That's a common narrative, right? I'm glad you asked that question. It's really common that people say this And it it's it's a misunderstanding that, like, the way that we arrive at regulation, like, the process by which our government decides on regulation and our regulators decide on regulation is the regulation they're proposing

23:45Steven Lubka is the economic optimal outcome. The most effective way to grow your business is always to to to kind of abide by those rules. Right? Because the reason those rules are existing is because all of our, you know, all of our experts, all of our, you know, people that work at very high levels in ensuring The US stays competitive

24:12Steven Lubka have decided that these are the regulations we work under. And the only reason they would decide that is because that these clearly need to be the fastest paths to grow. And so, actually, people think they're saving money by by skimping on, compliance, but that actually means they're just taking it they're they're they're taking a suboptimal pass, path compared to, like, what our regulators and experts decided was optimal for the market. I mean, their their literal job is in regulating the market.

24:45Steven Lubka And so for you to say that, oh, I know better. I could, like, not spend on compliance, and I'm gonna come up with a better, more innovative, solution to, you know, to to invest our capital as a business. I mean,

25:03Steven Lubka how many PhD economists are on your payroll? Probably zero. So I mean, that's a laughable, assumption. Interesting.

25:14Richard Greaser Well, one of the topics I wanted to talk about with you, The The US has more PhDs.

25:19Steven Lubka We have produced more PhDs than any other country and at any other point in our history. And I just think, like, going against you go against that at your own peril. I mean, I really think you do. I wouldn't wanna be, you know, on the other side of that. Makes sense.

25:37Richard Greaser I mean, there's something people need to learn in general is to not argue with credentials and to trust the experts.

25:45Steven Lubka Seriously, it's like, who are You know? Like, why you know, what sort of external validation do you have that should cause me to, you know, believe what you're saying? Like, if you can't if you can't prove to me that you have the right to an opinion, why should I listen? Yeah. I mean, the the credentials are, at the end of the day, that it's crucial work. And, like, a PhD is, like, the ultimate

26:13Richard Greaser the ultimate example of of before, you know, because of the amount of time and and energy and you you part of getting a PhD is you have to essentially defend your thesis of whatever you're talking about from other from other financial experts.

26:32Steven Lubka Yeah. And I mean, you know, like, getting getting a PhD is effectively the same as finding a block. Right? Like, you you put in work, you put in work over twelve years, whatever it is. And, eventually, at the end, you get given your doctorate. And and that's basically like finding a block in Bitcoin. Like, would you listen to a miner who had never found a block? No. Like, the only miners you're gonna listen to are the miners that have found the most blocks or at the best rates or at the lowest cost. And, you know, it's the same thing with PhDs. The more PhDs you have and the and the and the kinda, like, the more work you put in, the more reliable you are. Yeah. I think you just triggered a bunch of people running bid access. I I hope they find blocks. You know? I I really hope they find blocks so that they can have a valid voice in the community. But, you know, until that that that work has been verified I mean, think about the blockchain, man. Think about what Bitcoin is.

27:26Steven Lubka Bitcoin is a network for verifying other people's work. Right? Like, the network is effectively assigning you a credential that you did valid work. Until you get a block, was that work valid? No, man. It it it just went nowhere. You didn't find a block. And and, you know, Bitcoin is is is it was an innovation really Bitcoin was an innovation in compliance. And this brings up like one of the challenges, which is that, know, how do you actually verify if somebody found a block or not

27:56Richard Greaser about a KYC in mining?

27:58Steven Lubka Yeah. I know. It's embarrassing. I know. You know, and I think, I mean, what was it? Like, did Merit you know, I I I think some of the miners tried to do it and, like, they got, you know, they got shot down. You know, people people aren't ready for new ideas. So they tried to innovate too quickly. Yeah. I mean, common common problem. It's just like, you know,

28:21Steven Lubka just like Zuckerberg, you know. Like, he tried to move so fast so that he could, you know, provide the US government with good, you know, information control tools and, you know, he got punished for it. Sure.

28:35Unknown You know, I mean,

28:37Steven Lubka yeah, I I can't imagine what the elections would look like without Facebook. I mean, anarchy.

28:42Richard Greaser Yeah. I mean, Noster's gonna be, like, an interesting switch in the way that elections are Correct. And the information is, attributed.

28:54Steven Lubka Yeah. Yeah. I mean, you know, it's a challenge. Right? Like, you know, as as kind of, forward thinking, as as our regulators are, you know, they're they're not they're not omnipotent. Right? We can expect them to to know everything. And so I I do hope they take a, you know, just a just a a good look at Noster and figure out how to, you know, kinda send some, you know, information gathering exercises to relay runners. Right? I mean, you know, if you wanna run a relay, that's that's fine. Right? We we we love decentralized networks, but, like, you know, we need to validate those networks. Do you think you could ever see PodCon fronting the KYC relay? Yeah. I'm honestly surprised they haven't already, you know. I mean, again, but this comes back to what we talked about at the beginning of the interview. Right? The need for decentralized

29:43Steven Lubka KYC. You know? I mean, what most KYC exchanges are doing is they're working with a single integrator. They're working with a single provider, many of which use the same provider. I've confirmed this. And, that's just a single point of failure, man. I mean, like, what would happen if that provider went down? Like, we would have no KYC. Like, we would be exposed. We'd be completely unprotected. And,

30:08Steven Lubka you know, it just speaks to the need for, like, decentralized networks of KYC providers. You know, and, like, you know, I I think Podcap has a, you know, an important role in trying to push that forward.

30:23Richard Greaser Do you think that looks like using initiatives like Michael Saylor is talking about wherein where he essentially creates some sort of centralized identity system on top of it, Or do you think it just looks like spreading out how many platforms?

30:42Steven Lubka I mean, I think the optimal path is just integrating together a network of fully centralized providers because you know, you can do the best KYC if you're fully centralized.

30:57Steven Lubka And I really just want I want validation between centralized silos. So just lots of centralized silos that then validate with each other. And, you know, any differences can be kinda worked out along the way through,

31:14Steven Lubka you know, basically, regulators, investigating those providers after and determining how they got to different conclusions on that KYC information. Right? Like, you know, if you have, you know, 10 regulated licensed KYC providers that are authorized

31:30Steven Lubka to store our personal information safely and securely, and then provider three is getting a different result than the other 10, well, the regulators need to come in and figure out why that was. Well, speaking of regulators, so, you know, before we were,

31:45Richard Greaser on this topic, or before we started in and we were discussing why it makes I think you and I have, like, turned views on it. But for the sake of entropy, I'm pretty curious. So I think the audience is pretty curious about what your thoughts of what a good decliner are.

32:05Richard Greaser But, yeah, could you go into that a little bit?

32:07Steven Lubka Yeah. So I I think we can almost, like, we can almost answer this question, like, genealogically. Like, we can look at the path by which someone becomes a Bitcoiner. Right? Like and I think by looking at how people become Bitcoiners, we can,

32:25Steven Lubka you know, really understand what it is to be a Bitcoiner. And so almost every Bitcoiner I talked to, became a Bitcoiner because they started listening to a Bitcoin influencer. And that Bitcoin influencer really helped them understand Bitcoin. Right? There's so many great influencers in the space, and, you know, everybody has their favorite influencers. And and so, like, to be a Bitcoiner

32:51Steven Lubka is to have a Bitcoin influencer that, you know, you you basically listen to what they say, and you learn about Bitcoin from that Bitcoin influencer. And, you know, this is how the this is how it's run for a while. And, you know, there's all sorts of great influencers. I think Bitcoin has really innovated actually in the influencer sphere. I mean, I think other influencers from outside of Bitcoin could learn a lot from Bitcoin influencers. You know, I I think that's part of the growth we need to, you know, just kind of achieve as a community. But, you know, to be a Bitcoiner is to, you know, like,

33:27Steven Lubka pick out, you know, your favorite authorities in the industry and learn from them. Can you can you talk about who some of your favorite

33:34Richard Greaser industry

33:36Steven Lubka are? Yeah. You know? I mean, I love, I love Lynn, and I also love Alan Farrington. I mean, they were both really instrumental in, you know, my my journey as a Bitcoiner.

33:50Steven Lubka And, you know, I just like to read everything they write and, kind of, you know, mold my thought process, like,

33:59Richard Greaser you know, in proportion. I can understand why Lynn Alden's on your list. She's kinda hot. She's really hot. I think she might be one of the most, if not the most, attractive Bitcoin women in the space.

34:13Steven Lubka I would be violating, my HR rules to to comment for it. And That makes sense. You know, it's very you know, I we have a great HR team.

34:23Richard Greaser Well, I think, you know, like, the conclusion that I've came of why I think she's so attractive is, like, you know, pre previously, I was kinda, like, iffy on her because, like, I I thought that she only had one ear. But now since she showed proof of of both years, she, like, totally stepped up. She is, you know, I think she's one of the top Bitcoin influencers. You know? I think if you were to pull Bitcoiners

34:47Steven Lubka and figure out, like, validate who is actually the best Bitcoin influencer via proof of work. I mean, I think the odds of that being Lin is extremely high. You know? I I think you know, I mean, I've seen it. Like, when when clients come into Swan and they say, hey. You know, we'd like to work with you guys. I I you know, I've taken so many of these calls. And, you know, I say, okay. Well, who's your favorite Bitcoin influencer? Right? And and Lin's probably one of the top. And, you know, I mean, of course, if they say somebody,

35:20Steven Lubka you know, kind of, you know, noncompliant, like, you know, we don't serve them. So, I mean, that's also an an immediate kinda test question is to make sure they like the right Bitcoin influencers, crucial. But, like, you know, Lynn is just,

35:35Richard Greaser you know, just ahead of the pack. So who would you say is on, like, the blacklist of Bitcoin? Who who are some of your biggest concerning ones?

35:44Steven Lubka Oh, yeah. Oh, Eric Kayson is a he's a he's a he's a problem figure. I mean, I think we all know that. You know? I mean, I I think it's just anybody that, you know, like, if your view of Bitcoin

36:03Steven Lubka isn't as a tool to expand US hegemony, like, you know, we're we're just not on the same team, you know? Like, it's Bitcoin is is amazing because it's a way for The US to extend The US empire another thousand years. Right? Like, it's understandable.

36:23Steven Lubka You know? It's it's regrettable, but it's understandable that The US made a mistake with their monetary policy. Again, we we can't expect our experts to be perfect. But, you know, I think it's just our our our duty to help them have a better monetary policy, which is Bitcoin, and so that The US can continue to innovate for, you know, another thousand years. Right? And so, like, you know, people that are looking at Bitcoin as a way to, like, stop The US, I mean, you know, we just can't see eye to eye. Right? Like, Bitcoin is The US'

36:55Richard Greaser greatest tool. That's a very, very interesting thing.

36:60Steven Lubka Point. I think it's what Satoshi intended. Yeah so

37:04Richard Greaser you kind of determine who's a good Bitcoiner depending on who their favorite influencers are. What are some So this space you know, what a lot of influencers have found

37:19Richard Greaser in like judging each other is by issuing different purity tests. What are some of your favorite purity tests that exist in the suite?

37:30Steven Lubka Yeah. I mean, obviously, like these tests exist for a reason, right? Like the only reason we have purity tests is because these tests have been proven to be the most effective way to grow Bitcoin and to keep a good community. Right? Like, we wouldn't have them otherwise. There's no other reason that people would have purity tests. So, you know, these tests are important. They help keep the community strong. They help make it that we have the strongest soldiers advancing Bitcoin. And so, obviously, like, you know, your opinion on seed oils, I mean, that's really crucial in terms of your ability to do good for Bitcoin. Like, if you're eating seed oils,

38:09Steven Lubka you're, like, you're probably gonna put a bug in the code. I mean, we know that. And, you know, so just diet. Diet is really important. Obviously, I've been really big on sunlight exposure as a, you know, a test for, you know, how much of a Bitcoiner you are. And, you know, again, super crucial. Like, it's just gonna it's gonna make you know, if you're if you're avoiding the sun, if you're using sunscreen, like, I mean, you're absorbing,

38:36Steven Lubka you know, just toxic chemicals into your body. And, you know, that's gonna affect your OPSEC. That's gonna affect your security practices. That's gonna actually affect your ability to interpret the narratives and internalize the narratives effectively. Like, if your brain is working better, you're you're in the sun, you're getting, you know, you you just your whole system runs better. And when an influencer has a new narrative, like, you're just gonna be able to, like,

39:04Steven Lubka understand that narrative so much quicker and start, like, educating other people on it. Right? So, like, being physically excellent, being healthy and strong, weightlifting. Right? Like, this actually helps us be more effective on Twitter. Makes a lot of sense. Yeah. Like, you're you're training for Twitter. Right? Like, we all know this. It's like, you know, to be a Bitcoiner

39:27Steven Lubka is to engage in a Spartan like

39:31Richard Greaser regimen to just be a top performer on Twitter. Yeah. I mean, this is why, Kaylee is so effective as a a podcast and a new contributor because she is doing that that proof of work in the gym. Yeah. Because

39:49Richard Greaser the like, the engagement like, you need engagement to get the message of Bitcoin out there. Right? And when you're posting those proof of work images of you out at the gym, of you dead lifting, you know, of girls just like standing next to exercise equipment with yoga pants on, Like, that is

40:11Richard Greaser furthering the message of Bitcoin.

40:15Steven Lubka I mean, that you know, that's just how the Internet works, you know? Like, we we we we should take lessons from all of the other really successful Internet platforms and algorithms. And, I mean, it's it's simple. Like, it's simple. Like, if you are super shredded and fit, people take what you say, way more seriously

40:36Steven Lubka regardless of what you're saying.

40:38Richard Greaser And, we should use that to our advantage. This is why I like Lynn Alden so much.

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41:57Steven Lubka You know? And, you know, another another kind of purity test, you know? I mean, it's it's it's really not a purity test. It's really just like the, kinda like rational thought process. Right? It's just it's just it's just coming to rational conclusions. It's it's, you know, I mean, you know, even the term Bitcoiner. Right? Like, it only exists.

42:24Steven Lubka Like, it's like light and dark. Right? It only exists in contrast to a shit corner. And so, like, what is a Bitcoiner that makes it different than a shitcoiner? It's it's somebody that has, like, really strong opposition

42:43Steven Lubka to the sale of unregistered securities as defined by the SEC. You know? And I think this is an inevitable outcome from reading the cypherpunk literature and the early message boards. Like, you know, once you've kinda got the basics under your belt, the next kind of intellectual

43:03Steven Lubka quest is understanding securities laws and being very judicial about their application. And so, you know, shitcoiners are people that wanna sell unregistered securities. And Bitcoiners think that, you know,

43:18Steven Lubka only registered securities or assets which have been deemed non securities should be promoted. Do we have enough securities experts in the industry? You know, I I think it's it's it's it's a weak point. You know? There are definitely we definitely have a handful of experts, but we we really should be investing more. Like, you know, it's obvious that the classification of Shitcoins as unregistered securities has been

43:47Steven Lubka a huge part of our marketing strategy as a community. Right? Like, it's obviously been one of the primary messages and the ways that we've tried to communicate the value of Bitcoin to new people. Like, it's like, we know that the average person, when they learn that Bitcoin is not an unregistered security, they wanna buy it, like, right then and there. As soon as you can get a normal person to understand that Bitcoin is actually not an unregistered security, like, you're done. They're orange pilled. That's literally what it means to be orange pilled. And yet, despite this being our primary marketing tactic as a community, I just think we've we've under investigated

44:26Steven Lubka in granular, understanding of securities laws. For example, like, some of these exchanges are trying to trade onion futures. I mean, come on. We all know that it is illegal to trade onion futures because of an arcane

44:44Steven Lubka securities laws from the early nineteen hundreds. And yet how many people know this? I'm dead serious. This is real. You can look it up. You can't securitize onions. And, you know, and here we are talking about onion routers. I mean, it's it's just it's so tone deaf. That's pretty interesting. So

45:02Richard Greaser if people are trading I'd be kinda interested in trading tobacco features or cigarette features. Talk to client cigarette. Would that make me a shit question of doing that? No. Tobacco

45:17Steven Lubka is a commodity. And so you are fully clear on a regular regulatory basis. And you get into some iffy areas with, like so here's the thing. Cigarette sales require licensure. Tobacco does not. So as long as you're trading

45:36Steven Lubka tobacco futures, you're okay. The moment you try to, like, securitize individual packs of cigarettes, maybe it's like an NFT or something, you know, that's when you're probably gonna run a foul of the SEC. But tobacco, you you'd be all good. I mean, we could we could definitely trade,

45:55Steven Lubka tobacco futures on top of Bitcoin. Like, I

45:59Richard Greaser I might be failing one of the purity tests here because I really, really, are launching some non compliant futures markets for cigarettes themselves. Yeah.

46:10Steven Lubka I mean, what you could do, you could you could kinda revoke your American citizenship, and you could become a citizen of a country that doesn't have the same regulation on cigarettes, and and then you'd be okay. Do you I mean, that that brings up the,

46:28Richard Greaser you know, the the question of jurisdictional compliance arbitrage. Do you think that, like, the game theory of people, you know, trying to arbitrage, you know, the compliance standards in The US will, you know, make things more difficult for compliant companies

46:45Richard Greaser to compete?

46:47Steven Lubka Definitely. But I honestly think you won't hear me say this often, but I think the fault is with regulators here. So the reason I say that is it's it's honestly really embarrassing that compliance standards aren't uniform around the world. And what I'm saying is if regulators want people to believe

47:09Steven Lubka that their decisions are correct and their reg the regulations are just like rational optimizations of just looking at the facts and finding just the best best optimal path forward for society, then we would obviously expect all of the governments to come to the same conclusions. And, like, if they didn't come to the same conclusions, one might infer that these these regulations are capricious

47:35Steven Lubka and nonsensical. Like, that, of course, can't be true. So instead, I think there's just really a failure to communicate between regulators, but it's understandable to me that people find navigating the international landscape really confusing because company countries do differ. And, I think they all just really need to, like, have some sort of, like,

47:57Steven Lubka global one world, Bitcoin meetup, kinda like a meetup. And they all need to get together, and they need to agree on one set of regulation for everybody.

48:10Steven Lubka And, you know, I think only then can we have trust in regulators. What do you think the likelihood of those happening is? I feel like it's pretty Yeah. I mean, that is one of the more demoralizing kind of facts about our world today is just this kind of real lack of international cooperation and these tensions. You know? But I you know, I'm optimistic that Bitcoin fixes this. You know? I think, I think Bitcoin fixes this, and I think, you know, if we keep pushing Bitcoin adoption, we can definitely get to a world where all the regulators agree. I think people underestimate

48:44Richard Greaser the power of what do you know if there's a therapist in New Jersey that has become a millionaire because they're able to process clients

48:57Richard Greaser like every thirty seconds, like fix all their issues by just saying the words. Have Have you heard about the phenomenon happening?

49:08Steven Lubka I haven't. That that that's an incredible story. And, I mean, I would listen to a podcast just about that. Like, it's we we that needs to happen. You know? I mean, I think I think, like, if you could scale a system of kinda psychological therapy that really just, like, help people understand that Bitcoin fixes this, like, I mean, that's genius. I mean, that guy deserves his millions. Like, I it's honestly kind of embarrassing. We haven't, you know, kinda rolled this out sooner. I'm gonna have to kinda dig deep. Yeah. I mean, there's just so much like, Bitcoin offers so much innovation

49:43Richard Greaser into the world. Innovation around clients, innovation around, you know, it's like fixing problems. Yeah. And I think like one of the reasons why a lot of our problems aren't fixed is because people in general have not been able to hear fast enough that that Bitcoin

50:03Steven Lubka pretty Yeah. I mean, and and you'd think the fact that all of these Bitcoin podcasts allow you to listen to it at 1.2, 1.5, two point o speed, you think people would be able to hear fast enough, but I don't know. Maybe we need a faster setting.

50:18Richard Greaser I I think the lesson in this is that it's very clear to me that there's not enough Bitcoin podcasts yet. No. There needs to be more. And that's that's been why

50:31Steven Lubka it's taken so long to figure this out. Yeah. I mean, you know, that's what drew me to Swan. Right? Like, I really felt that Swan was the market leader in Bitcoin podcasts, and I was like, sign me up, man. You know? And it's been great to be part of that journey. But, yeah, I mean, even with Swan's market leadership in podcasts, we've received many awards. We still don't have enough. And I just think it's because people are too scared to kinda step up

51:01Steven Lubka and, start their own podcast.

51:04Richard Greaser Why why do you think they're afraid of starting their own podcast? What do you think the barrier to entry is?

51:10Steven Lubka You know, I think it's, honestly, I think it's the unregulated nature of podcasts. I think it's it's it's intimidating if you're just a normal person to just kinda start this whole I mean, you're basically a media company and yet you're not regulated by the FCC. There's really no federal guidelines. And so it's just like it's incredibly uncertain. Like, you know, it's it's understandable that they're nervous.

51:37Richard Greaser So yeah. I mean, do you think there's any hope for any regulatory clarity around Bitcoin podcast this next upcoming cycle?

51:46Steven Lubka I know some people have been in Washington really lobbying hard to get some common sense Bitcoin podcast regulation. The the problem is, like, honestly and and, I mean, this speaks to, like, where we need to go as an industry. Nobody in the federal government is actually enough of an expert on Bitcoin podcast to regulate them. And, you know, like, I I think the most I I think the highest number of episodes that any kind of federal regulator has listened to of what Bitcoin did is, like, only two or three episodes, and there's hundreds. So, I mean and and that's just talking with Peter's show, like, let alone, you know, all the other ones. I mean, if we can't get,

52:28Steven Lubka communications regulators through at least a couple 100 episodes of what Bitcoin did and the sailor series, obviously, like, I don't I don't know, man.

52:36Richard Greaser It's it's I'm a little bearish on it. I'm kinda worried about, you know, the concept of having, funny talkers like Peter dictating American policy.

52:47Steven Lubka I feel like Obviously, it would have been better if Peter was born an American. You know? I mean, it goes without saying.

52:53Richard Greaser Well, you know, we've been we've kind of done a bad job as Americans on this front of allowing individuals like like non FEC or SEC compliant podcasters

53:09Richard Greaser like, Anthony Bompliano Mhmm. Being the primary, cases in our, American podcast here. Yeah.

53:18Steven Lubka Yeah. I mean, it really like, I really was disillusioned with pump, when I started seeing that he was willing to promote unregistered securities. And, like, you know, if you're not willing to be compliant with the FCC on your podcast that's already unregulated

53:38Steven Lubka by the FCC, I mean, come on, man. I I it's hard to take you seriously. Like, you've got to at least like, there may be no clear FCC regulations for Bitcoin podcast, but there are clear FCC regulations and you're just choosing to ignore those. Yeah. I think it's really important for the community. So, you know, there there's a lot of, like, watchdogs

53:57Richard Greaser ensuring that the different podcasters are FCC compliant. Yeah. But they they understand what the Howey test is. And I I think one of the primary ones, one of one of the unsung heroes of our industry in the in the content creation sphere

54:16Richard Greaser is Pleditor. Mhmm. But Pleasure, you know, he's he's the type of person who, you know, has gone through the effort to get a direct line with Gary Gensler.

54:30Richard Greaser And to be able to inform regulate because you the reality is is that, like, unfortunately, our regulators have not prioritized listening to Bitcoin podcasts enough. It's And

54:44Steven Lubka they claim they don't have had such trouble on the regulation front. Like, everyone's talking about Trump and Kamala and Operation Choke Point two point o and the Biden administration's hostility. And no one's asking how many episodes of Bitcoin podcast has Kamala Harris listened to. I mean, like, come on, man. You think Gary Gensler has

55:06Richard Greaser sent to What Bitcoin?

55:09Steven Lubka Absolutely. I mean, Gary is a bright spot, I think, in our kinda journey as an industry. He obviously approved Bitcoin ETFs as regulated, you know, securities traded products. He obviously shut down, you know, most of the non compliant, like, unregistered securities.

55:28Steven Lubka I I mean, the idea that he would have been able to do that without listening to at least some amount of what Bitcoin did, I mean, he just wouldn't have succeeded. You know? I mean, it's obvious that he was taking, you know, kind of a, you know, a lot of the knowledge he learned watching what Bitcoin did and applying it to federal security markets. I think it was that's kind of an interesting take because I think a lot of people in the community would disagree with it that Gary Gensler has not

55:52Richard Greaser taken the dance of promoting clients enough. That he's allowed a lot of shady behavior to not, like, question his

56:03Steven Lubka You know, you you can't let perfect be the enemy of good here. You know? Like, I I know we want our regulators to be perfect kind of Superman or Ubermensch, if you will. But, like, we can't let perfect be the enemy of good. I think Gary passed a lot of common sense regulation, and we need to applaud him for that while still striving to do better. You know? I I like I'm I'm fully on board with, like, making America compliant again, but that's gonna take you know, that's step by step, man. It's it's not all at once. I mean, I think, like, one of the big challenges,

56:37Richard Greaser you know, like, for me as an individual, as a credentialed journalist is, you know, there's this expectation of compliance for the but not for me. No. You know? And then the Beagle's done a lot of work, you know, showcasing like how, a lot of these government agencies are non compliant at the end of the day.

57:03Steven Lubka Leadership comes from the top, man. And and, you know, your critique is, your criticism is is well heard. You gotta lead from the front. And if our, you know, top government officials are not complying and being paragons of compliance themselves, then, you know, I mean, how are how is the average person expected to, you know, devote the time and energy necessary to understanding the rules and guidelines of 12 different federal agencies. Like, you know, I mean, this is obviously what, you know, Aristotle talked about. Right? Like, Aristotle believed that,

57:42Steven Lubka you know, an excellent citizenry. Right? Like, the citizens of democracy need to cultivate themselves. They need to be educated, and they need to be, you know, able to process and understand compliance

57:56Richard Greaser rules and regulations. Right? And, you know, we're failing Aristotle here. Yeah. I mean, it doesn't help that, presidential candidates like, Donald Trump are promoting unregistered security.

58:07Steven Lubka It really doesn't. I mean, you know, we were really excited about, you know, his embrace of, Bitcoin. But, you know, it's looking like

58:18Steven Lubka they're trying to launch some sort of, you know, DeFi platform that is itself unregulated. And, I mean, you know, it's a it's a it's a tough pill to swallow, especially when

58:32Steven Lubka I mean, you just don't have any good choices in the selection. On one hand, you have Donald Trump who wants to promote unregistered securities. On the other hand, you have Kamala Harris who has not listened to what Bitcoin did. And it's just I don't I don't know how you choose. You know? I mean, obviously, RFK has listened to some Bitcoin podcasts,

58:53Richard Greaser but, he's now dropped out. So what's a Bitcoiner to do? I don't know. It's it's quite the quite the conundrum that I don't think we're gonna come up with the answers on, this episode, unfortunately. I think this is like a topic and, you know, kicked over to, you know, groups of, credentialed experts to run studies, then are peer reviewed and and discussed at length. And and then we can take it to Twitter spaces and discuss it in there

59:24Richard Greaser and formulate these solutions. We need the best minds, the Bitcoin podcasters to start exploring ideas.

59:36Richard Greaser There just needs to be more discussion

59:39Steven Lubka and study of it. I think honestly, you made a great point there that I wanna kind of, double click on a little bit. And it's that it goes it goes really underappreciated how much that Twitter spaces was actually an innovation on peer review. And, like, people don't talk about this, but, you know, like, the fact that we can have peer reviewed studies by credentialed experts and then we can discuss those in Twitter spaces,

1:00:06Steven Lubka it just adds, like, a whole other level to the validity of the scientific information. Well, it's the way that,

1:00:13Richard Greaser discussion around, Bitcoin development has been going. You know, everybody that's been around for a little bit since the podcast has realized that, you know, the the mailing list is not the way to get your proposals as far as upgrading Bitcoin

1:00:32Richard Greaser be taken seriously, that all that discussion has to happen basis?

1:00:37Steven Lubka It it's it's just, I mean, we're, you know, the contention around kind of upgrading soft forks, script restoration on Bitcoin, I think it just could be solved by, like, a single licensing body that gives certain developers approved credentials to upgrade Bitcoin. And, like, we don't have this. And, like, everyone is having to, like, debate their ideas under their own merit and, like, muster argumentation in the public sphere that everyone can see. And,

1:01:05Steven Lubka you know, of course, nothing gets done. You know? You just need to, like, find some sort of standard body for licensure, get 50 of these developers licensed, and then they can do whatever they want under the guideline of, you know, Bitcoin regulators. It's a really interesting idea. The fact that we don't have Bitcoin regulators is insane. What do you think that like,

1:01:26Richard Greaser who would be the regulators in that situation? Would it be the US government or would it be

1:01:32Steven Lubka Yeah. I mean, the US government would hire certain Bitcoin podcasters and appoint them to a regulatory. Well, yeah. Well,

1:01:41Richard Greaser kind of running out of time. Do you have any thoughts for us, you know, things that you think are, you know, for listeners to understand? Yeah. I mean, I think we covered a lot of good ground here.

1:01:55Steven Lubka You know, I think having more conversations like these, talking about our civic duties, you know, I mean, that's the path forward. There's just too much fragmentation. There's too much, you know, just everyone kind of, running in their own directions right now in the Bitcoin community. And I think that, like, we could come together under some common community approved guidelines that are then watched very closely by, people on Twitter to make sure people are adhering with those guidelines.

1:02:26Steven Lubka You know, we need to move towards that. We need to get more Bitcoin podcasts into Washington. We we actually really should have you know, how there are, like, like, dashboards to see who donated how much money to certain senators? We need a similar thing for episodes of Bitcoin podcasts. And, like, we need to know which senators watched with which episodes of which podcasts. And I think that would help, you know, those those of us that are working in lobbying efforts, you know, just be way more effective. Because, like, if somebody hasn't watched the sailor series, you know, I mean, come on. Like, you know, like, they need to do that before they get any further money. So so it sounds like your solution is Podkom.

1:03:07Steven Lubka This is why I was just very impressed by the work that they're doing. I think there's some things behind the scenes that they're working on bringing to market that are really gonna impress people. You know? And, we'll have to wait and see and see if they can deliver. It's hard. It's hard to innovate in compliance,

1:03:24Richard Greaser but I think they can do it, man. Well, that is definitely interesting. I think it's controversial. I think our listeners will, disagree, but I think it's important to, you know, hear the argument, discuss the merit of it, and do something around it. Enjoyed this chat, Richard. Well, I thank you for your time, Steven, and appreciate your perspective.

1:03:46Steven Lubka Absolutely. Anytime.

1:03:49Richard Greaser I wanna give a big thank you and shout out to Steven Lobka for coming on the show. That was a fun interview. Learned a lot about, you know, compliance. My opinions on the intellectual Silk Road, on PodConf, on compliance has not changed. But, you know, there's individuals out there that are fighting the good fight that have different perspectives

1:04:13Richard Greaser than us. I just think we disagree on the tactics. But, yeah. So now's the time for the fountain boost, everybody's favorite part of the show.

1:04:29Richard Greaser We're still donating 10% of these to samurai. So thank you for everybody, you know, for donating or boosting us, but also boosting samurai. If you want to go and donate directly to their defense fund, go over to p2prights.org. And there, you can, you know, donate to help the the legal defense fund. And, you know, when they win their case

1:04:56Richard Greaser against the spooks, you know, that those funds will be there, for other open source developers, for other individuals that are being prosecuted for being compliant or just stupid things. But yeah.

1:05:12Richard Greaser So our first boost is from our good friend We All Eat who says, LFMAO, great intro, great show. Getting triple nostril boost from fundamentals is dope. You'll give Kaylee my digits. We can talk about noncompliance

1:05:28Richard Greaser and how Rod is compliance cucked for the Michelle Weeklies of the world. Let's all blow up let's all blow our bugles for smoking hot babes. Do your fucking taxes and comply. Rod must have tickled Michelle's balls to get simply Bitcoin on already. Look forward to sitting down with the two great credentialed journalists at the next PodConff event. LOL. Well, thank you for your boost.

1:05:58Richard Greaser I don't really know how Rod is compliance cut for the Michelle Weakleys of the world. That's an interesting theory. But, yeah, you you can reach out to Kaylee. She's on Twitter. She's on Noster. Feel free to to reach out to her. The triple boost from fundamentals is interesting. It looks like he boosted us the same thing four times.

1:06:22Richard Greaser So four times the stats, but repeating the same message. So appreciate the boost fundamentals. I'll get to that in a second. But, yeah, I agree. Blow your beagles for the smoking hot babes. But, yeah, we all eat. Great guy. Always enjoy seeing him around,

1:06:44Richard Greaser the PodCon tour at all the events. It's people like you who make the show possible, who make us, you know, keep going. So I little bit less eventful

1:07:00Richard Greaser boost than last week, you know, where we all each shared with us that he had a threesome with, HashSledX and, Miss Huddl, not four twenty. But

1:07:16Richard Greaser yeah, a lot to a lot to unpack in this. A lot to unpack in this. Anyways, we'll we'll look forward to seeing you at the next event. We all eat, and thank you for the boost. Next boost for 10,000 sats is from Fundamentals who says, one of your best episodes and now these boosts are going out on Nostr. The thermodynamics are unprecedented.

1:07:39Richard Greaser We can't even comprehend the value signal. I'm not really sure how the the Nostra integration works. So I need to I need somebody to explain that to me or to show me. I see sometimes when you tweet on Noster I don't know what it's called

1:08:00Richard Greaser when you post on Noster. But when you post the episode link on Noster, it shows up in the found feed. But thank you. Yeah. I thought last episode was really, really good as well. And I think we're just gonna continue to to get better. You know, we're we're you know, Kaylee has really allowed us to level up.

1:08:23Richard Greaser And I hope in the future that we're not just gonna have one smoking hot babe, but many, working at the bugle. And the thermodynamics are just gonna gonna

1:08:36Richard Greaser grow. Stackatoshi 2,000 sets says, I'm really concerned that NGU is not going up fast enough to allow me to pay my taxes next year. We need more Bitcoin podcasts ASAP. How will people find out that Bitcoin has already won if we don't know? Yeah. Like, the price is directly correlated to the amount of podcasts. The more podcasts there are, the higher the price goes up. And every time the price fall

1:09:05Richard Greaser falls is because podcasters did give up. And it's really lame. I'm I'm also kinda concerned about this. You know, PodConf will tell you that there's just, like, been a general lack of compliance and and and that's why the price has fallen. But, you know, the reality is it's about podcasts. The more you know, it doesn't even matter if podcasts are thermodynamically

1:09:32Richard Greaser sound like ours. As as long as there's just a lot of them, the more the better. Because the more podcasts there are, that means the more people are talking about Bitcoin, more people, you know, are listening about Bitcoin and they're finding out that Bitcoin has already won. And so that's that's really, really important. Thank you for your boost, Takatoshi.

1:09:53Richard Greaser The next one is from Shadrach, our good friend Shadrach for 9999¢. And Shadrach says choose joyful and then has a a primal link, which I guess I'll look up real quick. Yeah. If you don't know Shadrach, go and check him out on roster. Great guy. I can't see the link for some reason. I don't

1:10:17Richard Greaser I don't know how to use this. I assume that the boost somehow translated from roster, but I'm not I'm not really sure. Open mic for 7,777 stats. Says Beagle Mile high

1:10:36Richard Greaser club flies again. That's awesome, man. It looks like you double boosted for some reason. But yeah, the Beagle Mile High Club is when you listen to the Beagle on an airplane, the Beagle Weekly. So

1:10:51Richard Greaser I'm sure Rod was doing that this week in his travels, to go, you know, find this oh, wow. Alright. I'll get I'll I'll talk about this one in a minute, but I just saw the next boost. I was kinda surprised. Yeah. Appreciate your open mic. Thank you for the boost. Thanks for listening to the show.

1:11:12Richard Greaser Next one is from PodCon for 5,000 sats. It says, this episode is highly offensive, and we will be pressing charges. The way you frame Michelle Weekly as a federal operative is just ridiculous. PodConf will only get stronger because you people are so ineffective at attacking Bitcoin price increase. We believe Bitcoin price will increase. Also, compliance is defiance with the reserve sign after.

1:11:40Richard Greaser We hope to save your listeners from your vile misinformation campaign. Look into real plus reserve. Well, you know, appreciate the boost, PodConv, but, you know, go fuck yourself. Don't really care what you think. You're wrong. It has nothing to do with compliance.

1:11:58Richard Greaser It the price increase has to do with number of Bitcoin podcasts. And I bet you the price would increase a lot quicker if they're a lot more non compliant and actual defiant Bitcoin podcasts out there.

1:12:13Richard Greaser So I I'm I'm doing a middle finger at my, typewriter right now, So that's what I wanna communicate with you, Podkomp. We will not be shaken. We will not be stopped. There's nothing you can do to hold us down. Orange Mart boosted for 5,000 sats and

1:12:32Richard Greaser says the People Weekly is a great value for money. Yeah. I I mean, I agree. And, I appreciate the the boost. I mean, you know, all all these stats, they they go into our non KYC cigarette fund except for the 10% going to samurai. You know, I I kinda wish that p2prights.org

1:12:59Richard Greaser would actually, like, let you donate to, like, the samurai cigarette fund because, like, I'm sure those guys are stressed out and could use a ton of cigarettes right now, to to help them just stay focused. Vake boosted for 1,200 sass and says, this show cured my Parkinson's.

1:13:21Richard Greaser Wow, that's incredible. This is the first time you know, I've heard of, like, the Bugle Weekly doing a lot of thing different things for people. I've heard about it, you know, just like encouraging them, makes them laugh, helps people feel more informed. But this is the first time I've heard of the Bugle Weekly

1:13:42Richard Greaser curing Parkinson's. And if this could be replicated and wasn't just a one off, I could see our content becoming very important in the medical community.

1:13:59Richard Greaser But that's just what happens when, you know, you have credentialed journalists, talking from a talking about, you know, like taking a principled stance on a lot of these topics and not working directly for the CIA. Like, people are just really hungry for content

1:14:20Richard Greaser that is not produced or influenced by the CIA. When there's something that is real, people really like it. And and maybe that's why it cured your Parkinson's. So glad to hear that. You know, cigarettes also also cure Parkinson's. But, I think this is the last

1:14:39Richard Greaser this is the last boost of the show from, Bliza for a thousand sass that says boost for thermode dynamically sound podcasting. Well, definitely appreciate it, Blizzard. Appreciate everybody that boosted the show. And now I'm seeing, like, a bunch of posts on Noster and and clips in the feed below, and I don't really know what to make sense of it. I guess I would have to to click on them. But, you know, when I do, it just confuses me. It doesn't really take me to the

1:15:15Richard Greaser the link. But yeah. Anyways, thanks for everybody boosting the show and tuning in to this episode. Look forward to hearing your comments on it. Let me know what you thought. And, again, big thank you to Steven for joining me, this week.

1:15:36Hailey Welch Thank you for tuning in to this week's episode of the Bugle Week podcast. We really appreciate your fountain boost as it helps us to afford to smoke non KYC cigarettes, but also for Rod and Dick to be able to afford against their producer. Now, stay tuned for the debut of my new song titled, Obedience Deal.

1:15:57Speaker 6 Imagine if you were talking to them you were yourselves. Society would value books on the shelf. You are more than a cog in the machine. A free and open society is my dream. If you are feeling depressed, it might be time to change. In our sick society, having purpose can be strange. I break the mold. I refuse to stand still. I'm a smoking hot babe, and I've got my own will. Under vulnerable women are dangerous.

1:16:25Speaker 6 Compliant ladies are traitorous. The human spirit can't handle defeat. The taste of victory will be sweet. Oh, I strive to be normal when normal is lame. I'm Kaley Wilton. You will remember my name. Why do you trust the influencers and shills? You will soon find out that obedience kills to deny oneself is to kill the future. To rely on others' hard work is being a future. The solution is interdependence

1:16:55Speaker 6 and cooperation. These will help defeat this occupation. Don't just do it because you were told. Think critically and choose to be bold. Smoke a cigarette and transact peer to peer. The revolution will not come if you are paralyzed by fear. Why strive to be normal when normal is lame? I'm Hayley Welch and you'll remember my name. Why do you trust the influencers and shills? You will soon find out that obedience skills. Don't just do it because you were told.

1:17:26Speaker 6 Think critically and choose to be bold. Smoke a cigarette and transact peer to peer. The revolution will not come if you are paralyzed by fear. We're stressed at the normal, the normal is lame. I'm Hailey Wilton, you will remember my name. Why be trusty influencers and shills. You will soon find out that obedience feels at the funeral. Our standards are high. We believe that the only choice is to the spine. I'm not their puppet. I'm not their doll. Obedience thrills and this will be a draw.