The Bitcoin Bottom Isn’t A Number - It’s A Range

0:00I'm the street from the ground. I'm the street from the ground. Where's the... That's right guys, getting desperate. The Bitcoin bottom isn't a number. It's a range. Welcome back to the pleb underground. I hope everybody is having a great day. So let's take a look at what we're going to cover. A lot of stuff guys. It's amazing what happens in 24 hours. Well, we're going to start off with the math checking out. Bitcoin is going to be above 126K by November 2027. You're welcome, right? That's good stuff. Bottom always forms after two red six month candles. That's where we looked at that like almost a year ago. I don't know what happened there.

1:00What else are we going to take a look at? Well, if you want to be a bull, then you'd like Bitcoin to avoid repeating this one particular move. Bitcoin is the best scarcity asset of the digital age. We will show you why. We're also going to show you a Bitcoin bull market trick. Apparently there's tricks to bull market coping, or I should say bear market coping. Anyways, Bitcoin weekly super trend has now flipped green. I think this is Phil C's, hope, him. I get confused though. In Bitcoin, right, the bottom isn't the number. We're going to take a look at what that range is, or is history just repeating once again? Human behavior is the same, incentives are the same. Why wouldn't history rhyme? The bear market is likely over. And the bulls are in charge. We're going to see how and why. A little bit of an update on the liquid hack.

2:00Yeah. What a situation that's turning out to be. As well, Jaco Mozuko. He's back at Ocean. We're going to take a look at that. Blake, too, blip, the drama and entertainment. Just they're not ending anytime soon. And of course, we are here to make fun of it. Yeah, I had to sit there and get harassed for two years plus calling me all kinds of stupid ad hominums and all kinds of bullshit putting me on a fucking list and all kinds of stuff. Yeah, guys, I am going to make fun of that shit. I don't care. Okay. It is, yeah, it's time to sit there and dance. Anyways, Bitcoin mining data center side. This is from you condemned after leaking three million gallons of water, but the story is not so, it's obviously not so clear. And we're going to dive into it. Bitcoin long term holding tax exemption in limbo in Germany. Interesting turn of events. What's happening over there in Germany. And this is a nice piece of shit pointing here.

3:04Who remembers the slope wallet story from 2022? I don't. TK, thanks for tagging me in this one. We are going to take a look at that. And apparently, apparently strategy just did another collab for another pair of shoes. So obviously we're going to take a look at that. Oh, yeah, guys, it is going to be a lot of fun. Let's frickin' do it. So here we go. Let's go. Actually, you know what? First, first, we say good morning to everybody. Salty crayon, what's up? What is happening? Rork, Club Underground could be the name of the skeleton meme. It could. And it probably should. It probably should. It'd be nice to get some recognition. Oh, dude, we are so back. We are so back. It's happening, psycho-trained. They'll see what is up. Johnny Midas, good morning. Hey, both of them said.

4:04Apparently, there's a lot of fills in Bitcoin. Okay, anyways, let's dive into the numbers. We got a whole lot of story to cover here. Here we go. Bitcoin Fiat Exchange, 78,586 new all-time high on the block height. 966,231. What else are we looking at here? Four sats per V-bites? Interesting. We'll relatively cheap. Total public lightning capacity, 3753. Bitcoin, 78. iPhones, we lost an iPhone guys. Over night, we lost an iPhone, but it's okay. It's okay, because guess what? We're still getting 20% of our house. Oh, another fill. What? No way, a third one. Hey, fill from Brazil. What's happening? BTC, go to the moon. I know, man. We're so close to October. I really hope that October works this time, because I was a believer of October 2025, and ain't nothing happened. Yeah, yeah, the force ones.

5:09Yeah, I heard somebody make a comment this morning about the wisdom of the crowds, and it dawned on me, right? Have you ever noticed how the marketers always market to a crowd? Something to be said for that, right? There isn't very much wisdom to be found in the crowd. And if you go look up what happens to somebody's opinions, once they get into a group, you'll notice that people's opinions quickly change from when they are individuals to when they are placed in a group and introduce to group think, right? It's kind of like the similar type of thing is to the bystander effect, right? For the people that aren't familiar with that, right? Let's say there is an accident and you are the only person to witness it. Guess what, you're the most likely to call for help. However, if there's nine other people there that also witness the accident, almost every single one of you are going to expect that the other person is going to call for help. So all of a sudden, the group dynamic completely changed. How everything was going to work.

6:10So anyways, yeah. Yeah, let's frickin go, man. I'm so pumped to, it's going to be fantastic. Dam right, DCA to BTC is undervalued. And good morning, right? Good morning, ACP, I don't think I said good morning. Good morning. Apparently that's, apparently that's insensitive to say good morning, right? I learned that recently. Words, words are insensitive. Okay, anyways, let's move on. Let's move on. We got a whole lot of stuff to cover. We're going to kick it off with Kila XBT. He's doing some great work here. Guys, the fuzzy math is checking out each cycle. Bitcoin has been taking less time to create a new all time high. If we simply follow the 2022 cycle, a new all time high should should be established no later than February, 2028. What? Sir, I was sold on 2027. The cycle appears to be moving faster. We bottomed and that is true. We bottomed roughly three to four months earlier, which naturally brings the timeline forward as well. As we all know, guys, we ended up hitting a new all time high

7:11prior to the having at the same time, at the same date, right? Forget about the same date. The same number of days from the Bitcoin peak in previous cycles, we are significantly higher than before. Yes, this time it's different. That doesn't mean we're going to the frickin' moon tomorrow. Okay, that doesn't mean all of a sudden, like it's frickin' Valhalla. It just means that hey, Bitcoin's maturing and we're going to take it and we're going to use that data. That's it, you know? Plastic, what's up? Anyways, based on the cycle's shortening, I believe Bitcoin creates a new all time high in late Q4 next year. In other words, I expect to be trading above 126K by November 2027. Yeah, I'll take it, guys. I'll take it, I don't care. Cause I'll tell you, that price, right? The fiat exchange, when that actually happens,

8:11there's gonna be a lot of people in disbelief. Especially the people that fell for not Bitcoin. Especially them. Yeah. All right, the bottom always forms after two red six month candles as stated, Bitcoin is high time frame bullish and the bottom is in. That looks like cherry pit stuff. Not gonna lie. I appreciate it, but it's cherry pit. Anyways, all right, it's good. Cause I remember that one from a year ago and nothing happened. We didn't hit a new one. It skipped going lower. Anyways, all right, here we go. Red capital, if you want to be a bull, then you'd like Bitcoin to avoid repeating may price tendencies at these highs. That's all. And look guys, this is exactly what I've been talking about the whole time. We are indeed at that point where it is a moment of truth, so to speak, right?

9:13Bitcoin is either going to break through and I know, I know this is controversial, but yes, you have to turn this area into support. That's how this works. Because guess what, if we just shoot through and don't turn this into support, probably just gonna come back to exactly where we are now is not lower. Okay? So yeah, up and to the right and turn it into support. All right, here we go. Normally we get the beach ball hopium from this guy. That's right, this time it's different. Gold was the best scarcity asset of the industrial age. Bitcoin is the best scarcity asset of the digital age. Send it. Right there, that's some solid wisdom right there. That's quite the chart, quite the chart showing how the Bitcoin, what is that? Is that the gold, gold value going down? Yeah, that's the gold to BTC market value. That's right guys.

10:13You might get some pumps here and there along the way, but make no mistake, okay? If you take a look at what's going on, people can't afford bigger and bigger houses. The younger generations don't want to hoard all the older generations useless crap, okay? So the reality is is that Bitcoin is a superior option and slowly but surely people are figuring that out. It's happening, it's happening. All right, here we go. Washagoria, I never knew there were tricks in the Bitcoin bull market. For me, the trick was simply just to stack and hodl and not get wrecked. What? We're gonna learn a new trick for investors who don't have time to check the charts every day. Here's the simple strategy I shared during the last bear market. The signal is triggered once Bitcoin reclaims the green line. Listen, between the juggling balls, the colored lines,

11:13the rainbows, how can tell me we're one of the moon men? Yes, it's one time. All right, we're almost keeping mine. We haven't crossed the green line yet, okay? Just pointing that out. What is it to words to never use when talking about Bitcoin fiat price, never and always? Yeah, that is a good point. That is a good point. I try so hard not to go with absolutes because absolutes always get you wrecked. It's so true. And I just did it. I just did it. Damn it, I can't get out of this one. Absolutes often non-zero chance like get you wrecked. We'll go with that one, okay? The support mean chop consolidation for another cool. Yeah, I mean, in all fairness, it probably could do. Essentially, what support could look like is us breaking above that 82 range and sitting between 82 and let's say 87. Really, we'd want to see it's a lot more like 84 to 87

12:16and just kind of chop sideways. I don't want it to chop sideways, but I'm just saying that is what it could look like. I'm okay with that in fairness. Doesn't mean that you have to be though, right? Everybody have talked about this a thousand times. Everybody's got different timelines. Everyone has different goals, right? I'm in my late 40s. Some people are just starting their adventure. They're in their 20s, right? There's other people that are stacking. They're in their 70s and 80s. They're looking at retirement. Like, look, everybody's at different places, you know? And that's what's important. And that's why it's always very like it's right. We listen to what other people say. We listen to opinions, right? Opinions are like assholes, everybody's got one. And then you got to figure out what's right for you, right? As an individual, you got to look at your situation individually, not look at somebody else's because you don't know, you don't live with them. You're not behind closed doors with these people, right? What it is. Okay, done with the moralizing back to the Hopium. Matthew Highland, Bitcoin weekly super trend. I love words like super trend.

13:20It makes me feel good, right? It makes me feel so good, super trend. And it's now flipped green confirmed for the first time since November 2025. Let me guess, October, where's the skeleton? We need the skeleton. I, you know what? I might start co-hosting this show with just the skeleton JPEG next to me the whole time. Hey, what are the skeletons enough to say? We don't know. Anyways, look, it's looking good, guys. A whole bunch of green shading. It looks like it's just about to turn green again. Just for a consent it. Just send it. That's what I want. All right, Bitcoin. In Bitcoin, the bottom isn't a number. That's right, guys. This is what we've all been waiting for. It's a range. And Bitcoin is currently in that range. No shit. Hey, good morning, cold deck. What is up? That, I did not miss you. Good morning, good morning. You taunt me with that hairline. I know you do it on purpose.

14:20Here, let me taunt you with my balding hairline. All the way back here. It's like halfway back on my head. That's good times. Good times. So look, this is one of those charts where I'm thinking it's not bad. Not bad at all, right? We can clearly see here. We had that, what looks like a, is that a butt? I don't even know what that is, but definitely this one here is not a butt. And interestingly enough, it kind of looks like we dragged this out a little bit longer than, yeah, it looks like we dragged it out a little bit more than 2023. We've been staying in a higher consolidated range in the quote unquote bear market for a seemingly slightly longer period of time. Maybe it's not scale. Doesn't matter though, it really doesn't. Scale, not scale. Nobody cares. All right, crypto jelly history repeating.

15:23I hope not. I really do hope not. We got robbed. I said this before, robbed in 2022, robbed the last cycle. Okay? Trying to mining ban an FTX? They screwed us over. And then, I don't know what the hell just happened here, but we definitely had a muted bull run, thanks to, I don't even know. I'm gonna, the only thing I can chalk it up to is a bunch of derivative financial services that are not Bitcoin, right? As we did end up learning, Jane Street was not actually purchasing all the Bitcoin. They said they were, okay? They weren't doing that at all, even though they're an authorized participant and they had a Bitcoin backed product, right? So, and Jane Street's not the only one. That rule applies to all authorized participants, okay? So just because Jane Street got caught, doesn't mean that nobody else is doing this. Anyways, I'll take Crypto Jelly's hope, Ian though.

16:25He's indicating that we are gonna break out from this range and we're not gonna crab. But look, you could also see here, right? Based on the range he's trying to show, you could feasibly make the case for a crab between 85 and 89 for approximately half a year. That might really tire some people out. I do, I really hope so, Phil. I do hope the 2025 was an outlier. Because none of it, it's like nothing came true. You know what I mean? Not a single thing came true. It was just terrible. Anyways, let's dive into some of your hope, Ian. The bear market is likely over, I agree. The bulls are in charge. Yeah, I agree with that, Phil. The data is piling up. Bitcoin is ready to do Bitcoin things again. Yes, hopefully you help through all the pain. Yes, sir, I have. Because my guess is that everyone is about to get rewarded. Let's frickin' go.

17:25That's right. The MVRV flips green. Let's go. You gotta love it. You gotta love it. Okay, so following up on that, hopium, right? 180K in the next 10 months. It's not bad, right? It's not bad, let's take a look at this. Cup and handle, guys. I gotta go back. I remember there was another dude that was showing a cup and handle, but I remember pushing back on it and saying that that's not a cup and handle. That's a wedge, right? Like that's a descending wedge. Anyways, look. That's why they call it an art, okay? That's why it's an art, it's subject, subject to interpretation. Anyways, but look, it's bullish. I'll take it. Good stuff, dude. I appreciate it. Okay, so here we go. Let's, we're gonna follow up here on the, what are we talking about? The liquid hack.

18:25Okay, so this was yesterday. Yesterday, I believe evening, round 20. Okay, so right after the 1.4 KB encrypted reply, the attacker chained a second opportune plain text, six words. All messages will be in plain text. Five long encrypted letters, and now he's been opening the curtains on his side. Blockstream hasn't said if they'll do the same. 598.5 Bitcoin are still with him. Where's this reserves? Who knows? There's the message. Just wait, this gets, this is gonna get dumber, guys. It's actually gonna get dumber. Okay, so here we go. Here's the status from liquid yesterday evening. No keys were compromised. A lot of this we already know. I just wanna go over it for review. Some people did not catch the three other episodes or two other episodes. We've talked about this. No keys were compromised. The liquid federation functionaries were not hacked and no private keys were compromised. The payout mechanism that authorizes withdrawals to whitelist addresses operated as designed. Other liquid issued assets were not affected.

19:27USET and other tokens issued on the network were not impacted by the vulnerability. Though they are temporarily unavailable while the network remains paused. And as of this morning, guys, the network is still paused. Our media priorities are recovering the remaining funds and resuming normal operations. Sorry, network operations is quickly as possible. Software update and progress, a fix for the exploited vulnerability has been developed and is undergoing multiple rounds of internal and external review. Okay, block stream is preparing an emergency release of elements version 23.3.4, which is expected to be released as soon as possible. But within 48 hours, this came out last night. So you can expect the fix either today or tomorrow. Network restoration. Once the software update is finalized and this tells you that as of right now, the network is still halted. Liquid network functionary operators will perform additional adjustments to resume full functionality and restore the corrected network states, including rejection of the invalid peg out.

20:30The liquid network remains offline at this time. But wait, there's more. So this was last night as well. Update, side swap, sorry, this was this morning at four o'clock in the morning. Side swap has sent the approximately four Bitcoin infes. It collected on the hackers 4,000 Bitcoin peg out back to liquid Bitcoin, Federation wallet. The wallet now holds 3,601.42 Bitcoin. But wait, you remember what I was talking about yesterday? White hats, like these are not white hats. Okay, this is more along the lines of a gray hat. Maybe even you can argue a black hat, but mostly I would say, I would say gray, but either way, it makes no difference. Liquid side chain hacker demands blockstream pay a 4,000 Bitcoin bug bounty to return the missing 598.

21:32So really what they want to do is they just want to be able to return 198 and a half Bitcoin and keep the other 400. So I know that this is going to sound hacker say the company was negligent and delusional. I'm going to tell you right now, and I said this, I put this out in a tweet earlier today. These are not white hats, black hats, gray hats, whatever you want to call it. This is extortion, okay? That's all this is guys. It's nothing else. So the people that are attempting to frame this as like some benevolent, the fucking mental gymnastics, right? I even did them myself for a minute, you know? And I was like, oh yeah, you know, at least they were turning it. But the more I think about it, the more I'm like, wait a second, I'm like, this is extortion. That's what this is. Come on. Anyways, yeah, liquid it is. It is a shit coin network. So that's the other thing guys, right? This is not Bitcoin, okay? And I said this yesterday too, and anybody who's being honest about this, right? Guys, it's no different. You provide your Bitcoin and then they create LBTC

22:35based on that peg. That's a shit coin. No different than any other shit coin. Come on, just because they're block stream and just because they like Bitcoin. So guess what guys, if I like Bitcoin, can I scam you? Is that really all it takes? Hey, I like Bitcoin. Let me scam you. And now all of a sudden, everyone's like, oh yeah, he likes Bitcoin. He's so good. Ridiculous. All future techs will be in plain techs. They proceed to type gibberish. That would be fine. Yeah, it would be fine. They kinda did type gibberish though, because going forward, it's all in plain text. And now we will make our ransom demands. Oh, we live in a fucking clown world. Sorry, I didn't mean this way. I try not to, but it's tough. Sometimes I can't help it. I apologize. Okay, let's continue. There's more slop. More slop, guys. Let's keep going. Okay, so I don't know if you remember, but Jacamo left like three weeks ago, left ocean.

23:38Be back. That's right. Jacamo, Zuko. Now that all the, now that all the, whatever you wanna call those people, the guys that are saving Bitcoin, now that they're all gone and they're off in their little sandbox. Jacamo's back. Good for him. Back at ocean. He's been part of ocean since the beginning, but his history with Bitcoin goes back much farther. Anyways, he's back on the board of directors. Good for him. Yeah, that's right, guys. The blipslop is definitely getting a lot weirder. So yesterday, right? You know how I was going off about the, that alpha pool minor, right? And how Chris was called, or datumome, whatever, was talking about how they're bad actors. And of course, they're like the state trying to attack their pure token. Well, here you go, guys, mechanic has now opened a PR to blacklist the minor's addresses. So I have a question

24:40and I might not understand how Bitcoin works, but I'm pretty sure that minors can just generate new addresses. Am I wrong? Like, did I miss something? How has anybody taken these people seriously for even a minute? Now, this is so sad. I'd be scared shitless. I'd be scared shitless if I was dumb enough to sell all my Bitcoin and just be holding this slot. I'd be so afraid. I don't know how Bitcoin works. Yeah, but wait, there's more, as you know. Okay, so you've got this PR, right? The blacklist alpha pools addresses, right? Okay, okay, fine. So here we go. This is another further post from mechanic. The situation is not resolved and I don't know of a workable solution for it. IE alpha pool is not doing what we say, right?

25:42Who would have thought that in an open system, minors can simply just mine the token that they want? No way. Wait, a minor can just get an ex, what? No, no, I don't think they were, I think they were, I think they were blacklisting Bitcoin addresses, not the IPs. Hold on, hold on, me. Alpha pools addresses. I gotta go back and look at the PR, but it's just, it makes no sense. It makes no sense. Okay, anyways, all right. Neither alpha pool, nor its minors seem concerned about the position they're in and they said they would resolve, you know why? Cause they're mining. They don't care. They know the position they're in. Having the pool break itself up into proxies as many have suggested is not a real solution. That solution may fly with ant pool in friends. Here comes the self pad on the back.

26:42I'm still virtuous. But if we don't hold ourselves to a higher standard, then that, then the motivation for forking is largely eliminated, dude. It was already eliminated. You've been larping this whole fucking time, okay? That's the problem. It's been a larp this entire time. How would you know if alpha pool went and split up? You wouldn't even know. You wouldn't know that it's them. Cry harder about open systems. Cry harder about them. We saw this chart yesterday. It's good times, right? Now, not only can they not stop alpha pool from mining, but guess what? If you bought the narrative that you were stopping arbitrary data by going over to this hit fork where you're gonna get wrecked by a small group of losers

27:43that just couldn't handle being a part of Bitcoin. Guess what? Look at what just happened yesterday. Oh, Tosh just added a contiguous image to bit 110 using this method. So you're not stopping arbitrary data. You have one mining pool, sorry. Ooh, right? It's a bunch of guys with bit axes, okay? And then one major mining pool. And this is somehow decentralized and better Bitcoin. Oh, but wait, all the decisions get made by three people in a fucking discord and 130 votes. Like really? And you guys, like the people that bought into this, you think you're on the right side of history? You think this is Bitcoin? Holy shit. I'm sorry. I'm glad there's a fly in my A.S. love. I just, I'm sorry, but this is so embarrassing, right?

28:44All of the crap that they spouted, the arbitrary data, the pedals, the spam coin. Well, guess what, bro? You've got a spam coin. All the same crap. You can't stop arbitrary data. A bunch of fucking larps. Embarrassing larps. And you know what's even more pathetic? Are the Bitcoiners that were here before the 2022 that do know better, that ended up supporting this crap anyways because they thought it would benefit them. That's right. Your hidden incentives are now exposed, okay? Everyone knows that you're a giant grifter. Everyone knows that you can't be trusted because you can't think critically. And if you can't, then you choose to be disingenuous. Anyways, yep, dude, plastic, you nailed it. It's all about control. It always has been. That's exactly what I've said as well.

29:46Look, once you understand, you know, a lot of times people try to make over-complicate things. Once you understand human nature and you understand incentives and you understand moral hypocrisy and human laziness. All of this is shenanigans. All of this can be broken down. And then if you really want to simplify it for yourself, all of this is rooted in fear. People who desire to control others, people who desire to control the network, right? People who desire to control others through money and power and all these things. They're afraid. They're just afraid. And that's okay. It's okay to be afraid. We're all humans, okay? None of us are here forever. Everybody's afraid. It's okay. But you don't need to control others. You don't need to ruin people's lives just because you're afraid. You can actually sit there and calm down. Dispel the fear. It's okay. Anyways, speaking of dispelling fear,

30:47now we're moving on to the minor stuff. Just actually that was minor stuff, but this is more minor stuff. What the hell happened over here? What the hell happened? Okay, Bitcoin mining data center condemned after leaking 3 million gallons of water. I'd say I think you, you tag me on this one and forcing school closures, facility operated for years under city stop work order. This is an interesting one, guys. According to the source report, the Aathlon blockchain LLC own data center shouldn't even have been operating as the city issued it. A stop work order in 2023 due to multiple fire and life safety code violations, as well as the expiration of the building and electrical permits that have previously been issued. The city asserts that none of the costs related to the water leak at the property will be passed on to citizens. Oh, thanks. Why would they be? It's so funny, right? Like that's somehow a good thing. It's okay, guys. Look, you're not gonna pay. We're gonna suck this up. Oh, you mean so your crappy oversight,

31:48you're gonna take personal responsibility. Oh, thank you, master. Thank you. We don't know whether the Bitcoin mining data center development went ahead despite the stop work order in 2023. So right there, they don't even know due to ignorance or a devil may care attitude toward regulation. Coco reports or cocoa. Anyways, cocoa reports that the owner of the property was given until the end of 2023 to comply with safety codes and obtain new permits while construction should have been put on hold. Now, it's believed that the firm building of the facility set up the data center and began operations without any further consultation with the city. Perhaps the owner's thought they could sidestep the stop work order by housing the data center in an array of shipping containers. There's a lot of supposition going on here, okay? Yeah. Yeah, I'm not saying that this data mining center is in the right. I'm just saying that there's grayness on both sides, right? There's a lot of grayness on both sides.

32:51Yeah, exactly plastic, unprofessional miners, most likely scammers, mine and run. That's, I mean, interesting point-banger angle, Blake hasn't rugged anyone yet. That depends on your definition of rug. And the reason I say this is because if you sold Bitcoin, all your Bitcoin to hold, which some people have claimed that they've done, I didn't check. I don't know if they did, but some people have claimed that they've sold all of their Bitcoin and now just hold the Blake Shitfork. I do believe those people are rugged. And now I get it. It's not a traditional rug, right? It's my line in the sand. That's the line in the sand that I'm drawing. If you were convinced, right, to sell your Bitcoin, to get rid of your Bitcoin and you're holding that Shitfork, I do consider that a rug. But again, that's my line in the sand.

33:53Okay, moving on, Germany. That's right, guys. There is possibly a Bitcoin brand in Germany. Now again, not sipping for the state. Don't misunderstand that, okay? There ain't no sipping for the state. The state, it's always the state and you, okay? It's never the state with you. But you got to take the good news where it comes from, right? Germany is drafting legislation to tax gains from Bitcoin and other cryptocurrencies as capital income from January 1st, 2028. Phil, this isn't good. Just, yeah, I know. I know it's not good. But wait, there's more. Gold all my Satoshi's for laptop. Burr. I know this is not true. I know you wouldn't do this. And if you did, then I have failed you. Big time. The all take, I'll take the responsibility on that one. You know, you've been here long enough watching the show.

34:55That's my fault if you did that, bro. I'll take it. Yeah, yeah, exactly. This is why I'm sticking with it. It's a narrative rug, you know? But I do agree with you. It is not a traditional, you know, like, it's not a traditional rug, right? Not like like, and the extortionists. Okay, here we go back to Germany. So check this out. As you guys know, Germany's far right alternative. What is it? The AFD party scored a landslide victory in the Eastern state of Saxony, Ann Holtz Parliamentary election, capturing nearly 44% of the vote and injecting a new variable into the federal government's push to abolish the tax exemption on long-term Bitcoin holdings. The AFD has been the most forceful opponent of expanded crypto asset taxation. And this victory gives the party an additional political base from which to exert influence over the legislative process. That's right. These guys, they don't want to tax Bitcoin the same way that the current government wants to.

35:55They actually want to remove some of that burden. Not bad, you know? Oh yeah, dude, the politicians, man, there are no checks for their power, right? There is no checks for their power. Because once you've got the state backing you, right? You've got the machine on your side. And go to the state of the modern or the Bitcoin situation. I mean, it's not financial advice, but it's maybe not the worst thing you can do, you know? Definitely not the worst thing you can do. Oh, Atomic Labs, a Bitcoin swapping service. Another one, huh? That doesn't, so interesting, right? Bolts now this, but Bolts still hasn't announced who the new owner is going to be, which is weird. All right, I'm going to have to go look up what's happening with Atomic Labs. Thank you, Rorke. I appreciate it.

36:56All right, so let's dive into it here. So the AFD's position on crypto assets taxation has already been established as part of the party's economic policy agenda well before this election in a motion submitted to the Bundestag in October 2025. The AFD defined Bitcoin as a decentralized tamper-proof supply limited digital asset and argued it should be treated separately from other cryptocurrencies. The party also called on the federal government to exempt Bitcoin from the European Union's micro-regulation. So these guys, not bad, right? For politicians, it's pretty decent. And to maintain the current 12 month holding period for individually held Bitcoin, it further proposed that individual Bitcoin mining and lightning node operators should not be automatically classified as commercial activity. Is it possible that somebody in the state over there actually gets Bitcoin? Or is this just pandering? We're going to find out, right?

37:56We're always going to find out. Okay, so they're not closing temporarily, they're taking offline. Interesting, very interesting. Well, what is it? Dear users, we've made the hard decision to take all atomic swap routes offline for now as a small team. We're currently not able to fight against the numerous sophisticated AI. AI, AI, just destroying stuff. The German Green Party had already attempted earlier this year to eliminate the holding period tax exemption, right? So the Green Party is against the AFD. A bill the Greens introduced on May 6th would have imposed individual income tax on disposal, on disposal gains, regardless of how long an individual had held the cryptocurrency. Very interesting. Very interesting stuff. So they're having a battle over there in Germany. They haven't far too well against the woke crap.

38:58So, but who knows, right? Maybe enough, maybe they've had enough. Maybe the AFD is able to push through, but again, it's not, the AFD isn't big enough to really make a massive change or to push for a massive change in legislation. So, we'll see where that goes, but maybe they can garner some more support. Anyways, it's good stuff. All right, let's dive into some shit-coining. Shout out TK for this one. Who remembers the slow-ballet story from 2022? In all fairness, I don't, because so much shit-coin-rug pulls have happened. 9,000 wallets were drained because the app was logging user seed phrases to a server, Wamp Wamp. Everyone said that would never happen again. And it just did 4,000 XRPH wallets. Oh, man, XRP, no way. 452,000 drain in total within three hours. Yeah, not good. Same exact method. The app was sending seed phrases to a remote server through its taking feature.

39:59Now, the great argument for cold storage. It's a great argument for your signing device never touching the internet. But unfortunately, as we saw with cold card, that didn't prevent anything. It did not. Four years later, it's the same scam, different name. We didn't learn anything. Non-custodial has become the most abused word in crypto. I feel bad for those guys to a certain extent, right? Because it, crypto non-custodial stuff has been larping from the start. So I never understood the confusion. Like, I never just assumed that, oh, yeah, this shit coin software wallet in my browser is non-custodial. What? What kind of mental gymnastics are being done to believe this stuff? Anyways. All right. So we've seen a lot of other collabs in the past, right? Strategy launches a $250 Bitcoin-themed Air Jordan one.

41:00But check out only accepts cards and Apple pay with no Bitcoin payment option. We're a company that holds 845,000 Bitcoin. I don't know about you guys, but... I'm not surprised. I know you're not surprised either. Yeah. So again, and I know I get it big cheerleader by so much Bitcoin, pop my bags. I got it, guys. I got it. But this is just orange washing, right? He loves Bitcoin. I love Bitcoin by my merch. That's okay. I get it. That's how it works, right? I've told you guys before, my scam is, I like Bitcoin, watch my content. So there's nothing new under the sun. But at the very least, man, can you just set up a BTC pay server and accept Bitcoin for payment? If you're gonna, in LARP, then just do it right. Just LARP correctly. Oh, they sold out yesterday.

42:00Nice. Way to go, guys. Way to go. Whoever was that purchased this crap, good job. Cause he needs it. Rarson, so many suckers, dude. So many suckers. And again, I'm not, you know, like I'm a sucker for the swag as well. I guess I guess I'm more of a hypocrite because I just, to me, this is just garbage. Like why the hell would I want to get a pair of Air Jordan? Sorry, Air Force ones that are from strategy. Like, I don't know why I'd want that. I'm more of a sucker for the art swag, right? Stuff like from Maid X or, yeah, exactly, exactly, simple influencers. And you know what the next Bitcoin conference, you're gonna have a bunch of people wearing these, you know, thinking they're cool and shit like that. You know? Oh yeah, that too. resellers probably bought them up. That's right. And they're probably gonna auction them off, right? I wouldn't be surprised if that's gonna happen to either way, either way guys. Yeah, I know I'm supposed to sound excited about crap like this,

43:01but I just can't because it's just garbage. Yeah, I love the BTC ArtsWag. I love it. Just accept Bitcoin, dude. Why do you make it so cringe? Oh, I remember those. I totally remember those. I knew a few people that got them. Marco, what's up? Ah, oops. I meant to keep them on the stage. Don't forget guys, please. Don't forget to sign the petition. And if you feel so inclined, please donate. I am back tomorrow 12, 10 PM Eastern. And as I told you guys on Friday, I'm supposed to have Lauren, right? Keonie's wife. And we are gonna talk about all the updates. Anything that's happened, has there been any kind of traction? Has there been anything back from any of the right, from any of the government agencies, the SDNY, anything like anything at all, right? We're gonna find out on Friday. Have a great rest of the day everybody.

44:03And I will catch you all tomorrow. Take it easy.