My initial reaction was a Bitcoin hard fork is bad. I would prefer bip110 devs remain on the main chain challenging bitcoin core. Without bip110 guys, @Luke Dashjr and other devs,  core has absolutely no one to challenge them. We wouldn't have a clue what bitcoin core is up to.   But then I thought maybe a hard fork is not so bad. Short term it would result in the usual dynamics after a fork, price would crash, and majority of public would stick with the main chain.   So it would fail right? Not necessarily. As long as the forked bitcoin remains strong enough to ward off any 51% attacks and there are enough miners and nodes for it to be secure (obviously would never be as strong as the main chain, but its good enough), then if core really do go rogue and destroy bitcoin in the not too distant future, then people have a viable option to switch to, a bip110 bitcoin hard forked option, that has been operating for years, that people trust and has a proven track record.   If the worst case scenario happens, then a bip110 hard forked bitcoin might be a god send. In the short term it appears to fail because people on mainchain dont defect (which I dont blame them for sticking to main chain, short term, hard forks fail, price crashes, short term store of value suffers). But in the long term if bitcoin really gets completely captured and destroyed, then once people realise this, then they will finally pick the bitcoin that is most resilient, most decentralised, long term.   So these failed bitcoin forks that we look down on and call shitcoins could actually be silently waiting, as defenders of decentralised money, and enable individuals to have a choice and to always be self-sovereign. These hard forked bitcoins could be silently waiting to come into action if bitcoin core really do overstep and destroy themselves. I think Bitcoin core might be too arrogant to realise this and as a result may destroy themselves and bitcoin in the process.   In the end I dont want the main bitcoin chain to fail and if spam is something we have to deal with and if it is not catastrophic to keeping bitcoin decentralised enough, and no one can censor a transaction on the main chain, then so be it, that is what it's all about. I do hope the spam is not used as way to severely compromise the bitcoin network.   If a bip110 bitcoin hard fork happens, I won't be selling my forked bitcoin any time soon. ✊

Its rough Brian, this news is v scary. omg, you actually generated your seed on cold card. So glad you sorted it out and have secured your bitcoin. I thought about buying one. It was on my list of things to do. But never got round to it. The question everyone is asking, what other hardware wallets outside of coldcard brand have this flaw. There is bound be atleast one. The other hardware brands need to prove that the seed was generated properly with the correct randomness. So this hack needs to be attempted on other hardware wallets. I am waiting for some sort of verification to restore some confidence. Hopefully someone can re-read the open source code of these other hardware wallets outside of coldcard and confirm the seeds have been generated correctly. Very disappointed a company like coldcard could allow this to happen. 😳

Good show Brian! Whales are accumulating and independent bitcoiners are selling. 🤦 Its a good chart that says it all. I know which side I am sticking on. Yeah i am a bip110 supporter. Removing the filter is risky and has more potential issues than benefits. We have had the filter for over 11 years and its purpose was to protect the network. Do we not need this ptotection anymore? Whats changed? I hope bip110 some how pull it off. 🙏

Thanks Joe, i saw last week El Salvadore locks up women for having miscarriages. That concerned me. Then i see this video. I still want to visit El salvadore, but I dont plan on saying anything too controversial while i am there. Thanks for being honest, not many bitcoiners would be willing to go against the tide. ✊

Not sure why but my nostr messages did not go through. Lets try again. Its definitely a good sign to see these btc treasury companies going bust. Its a really good sign that we are bottoming 🤞

Another good show Brian. Thanks. 👍 Its sad to see people like Tommy Robinson put his name to the shitcoin scene. I respect what he is trying to do, but it really shows how little work he has put into understanding bitcoin, and/or bad advice he has been given. Either way not a good look. I hope he realises soon, Bitcoin is the future, that could really fundamentally change things long term.

I agree, its a very big deal that the president of the United States has given so much emphasis to bitcoin (and crypto). It feels like we are right at the bottom. So many metrics are flashing red, perfect zone for buying. I hope we get one last push down. But I got admit, this might be it. And its all up from here. 🤞

Thanks for another good show Brian 👍 I came across something recently that I overlooked. If knots node eventually becomes redundant, and we are forced to use core node, then aparantly we can add the op_return filter back in. I didnt realise this. Core changed the default setting as off. But we can chose to switch it back on. Not sure you aware of this. I thought this was important to share.

Thanks for a good show. 👍 Yeah we all expected bip110 to fail. I was some how hoping by some miracle they would succeed. I think a hard fork is not good for bitcoin and also I assume we would lose people like Luke Dashjr and mechanic to the new bitcoin forked chain. Although bip110 failed, their presence is reflective of serious concerns that core do not have bitcoin's true interests. So I would prefer to have these devs challenging bitcoin core in our corner on tge maim chain. Otherwise we would not have a clue what bitcoin core is up to. If they did do a hard fork, it would result in the usual dynamics after a fork, price would crash, and majority of public would stick with the main chain. So it would fail? Not necessarily. As long as the forked bitcoin remains strong enough to ward off any 51% attacks and there are enough miners and nodes for it to be secure ( obviously would never be as strong as main chain, but its good enough), then if core really do go rogue and destroy bitcoin in the future, then we have a viable option to switch to one of the bitcoin forks. If the worst case scenario happens, then these forks of bitcoin might not be so bad. You would think over time people will learn their lesson and pick the bitcoin that is most resilient long term. So these failed bitcoin forks that we look down on could actually be silently waiting to come into action if bitcoin core really do overstep and destroy themselves. Bitcoin core would surely be aware of this. So hopefully their presence keeps them in check. In the end I dont want the main chain to fail and if spam is something we have to deal with and of it is not catastrophic to keeping bitcoin decentralised enough, and no one can censor a transaction on the main chain, then that is what its all about. I do hope the spam is not used as way to severly compromise the bitcoin network. One thing for sure, mining needs to become more decentralised. Bip110 is an example of the miners coming together and making sure it fails. We are putting alot of trust in the miners. I would feel more comfortable if it was much more decentralised. I am not sure the best way to make mining more decentralised. If 10% of normal every day people had their own mining rig at home, this would be enough to overtake the few companies that dominate bitcoin mining worldwide. But we could assume by then that countries would begin using wasted energy / free energy like renewables to mine bitcoin. So by then the mining industry could easily be 10 times larger in which case 10% of every day people running a mining rig at home would no longer cut it and would be a small % of mining power globally, so then we back to square one. I have looked into buying a mining rig on numerous occasions and everytime I decide against it because I fear I would end up paying more than spot price of bitcoin and infact make a loss. I would be willing to accept to breaking even, in returm for non kyc freshly minted bitcoin. But I am not so confident I could pull this off. Bitcoin mining is a cut throat industry, requiring hardware upgrades every 3 years. There are much easier ways to buy non kyc bitcoin.

I am thinking we got one more leg down too. But down to 43k... i dont know. Definitely onto the 50's If we do go down to 43k then thats 66% which is inline with previous trends of less of a pullback / cycle (2023 was 77% down). But we never had a blow off top in this cycle. So I dont know. Once we hit 50-55k again i will deploy the last bit of my dry powder. If we do go into the 40's well it doesnt matter. Nobody can get the bottom precisely But its very possible also that we have already bottomed. We are in that range of bottoming, and that range can easilly be + or - by 15k.

Omg Brian, your heart must have sank when you realised your seed words were at risk. Thank god you secured your funds. 🙏 Coldcard have alot to answer for! Bitcoin's greatest strength is the ability of everyday users being able to take self custody. We all need to look at this disaster as a learning experience, so that we become stronger going forward. I think we should all have a think about our self custody set up. Multisig setup with different hardware devices will mitigate against a potential seed failure with one hardware provider. If multiple hardware failures occur simultaneously across different hardware devices, then setting a 13th/25th word passphrase for each seed phrase on each hardware device seems essential now. And creating your own passphrase using a dice with maximum randomness is something we can all do. Its something we should all think about. It is the only way to know the job has been done properly. Dont trust, verify! Giving up on self custody is not the answer. Then we are just trusting a third party, and we have no idea whether the third party will not make a mistake. Self sovereignty is key. And bitcoin self custody provides the ultimate financial freedom. I am so sad to hear all the stories from people that have lost their life saving. Dont give up, keep strong, and remember, bitcoin is still tiny at the moment. You have time to rebuild. Bitcoin is still on the road to 100x and beyond. So you have time to restack and still be able to live the life you have always imagined. My heart goes out to you all. 🧡

Nice. Thank god you and friend in the clear. 🙏