Bitcoin Pumps HIGHER As SEC Goes ALL IN On Crypto ETFs!

Summary

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Podcast Summary: Bitcoin Pumps HIGHER As SEC Goes ALL IN On Crypto ETFs!

Podcast: The Wolf Of All Streets
Host: Scott Melker
Guest: Yago
Date: September 18, 2025

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Overview

In this episode, Scott Melker and recurring guest Yago deliver a lively, candid exploration of the recent Bitcoin surge past $117k, the fallout from the latest Fed meeting, and a seismic policy shift from the SEC that opens the floodgates for a wide array of new crypto ETFs. They blend macro analysis, industry gossip, and some classic banter, touching on everything from inflation woes to memes, real estate, and blockchain innovation—with a focus on how regulatory and tech developments are shaping the future for both crypto and traditional markets.

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Key Discussion Points & Insights

1. Bitcoin’s Rally and Macro Backdrop

• BTC surpasses $117k after what Scott calls a “massive nothing burger” Fed meeting; little new policy but big aftershocks for markets.
• Macro Quandary: Yago lays out how the US and global economies are stuck:

  “They're being squeezed, they're in a catch 22 situation... If they cut, inflation goes up; if they don’t, nobody has a job.” (02:01)

• The Fed may be abandoning the 2% inflation target, moving the goalpost in practice even if not formally announced.

  “Three is adjacent to 2%. A made up number anyways.” — Scott, joking about the new effective target. (05:15)

2. Stagflation, Inequality, and Asset Markets

• Persistent inflation without proportional asset gains—hurting even asset holders.
• The middle class is “basically gone,” with 50% of consumer spending coming from the top 10% (05:17).
• Rate cuts historically juice markets, but Yago cautions the old playbook might not hold:

  “This is the optimistic take... What happened before may not happen again—asset holders juiced used to be the play, now the inflation trickles down and hurts everyone.” (07:47)

3. Regulatory Shifts: SEC’s New ETF Rules

• Game-Changer for Crypto: The SEC’s approval of generic listing standards means, for assets with six months of futures trading on a registered platform (mainly Coinbase), ETF approval is now fast-tracked—cutting wait times to as little as 40 days.
• Tokens in the Pipeline: Bitcoin, Ether, Litecoin, Bitcoin Cash, Dogecoin, Polkadot, Shiba Inu, Avalanche, Chainlink, Stellar, Solana, Cardano, XRP, and more now likely to see ETFs in the US. (10:19–11:51)
• TradFi Embraces Crypto:

  “Who would have thought that the biggest competitor to Binance in 2026 would be the NASDAQ?” — Yago (11:51)

• Stonkification of Tokens:

  “What we're seeing is the stonkification of tokens... the regulator is dragging crypto into TradFi. It’s good for number go up—until it isn’t.” — Yago (12:09–13:06)

• New Multi-Asset ETPs: Grayscale’s crypto index ETP launches with BTC, ETH, XRP, Solana, Cardano. Scott predicts index-style offerings will soon dominate. (13:25–14:11)

4. Current Crypto Market Dynamics

• ETF Impacts: Bitcoin ETFs had explosive starts; others, like Ether, have been slower burns. Yago expects muted immediate impacts, but “over time, brokers and financial advisors will have to understand, and get exposure.” (14:11–15:01)
• Token Company Corrections:
  • The 50% drop in Nakamoto (Naka) and other digital asset companies signals major adjustments, with insider dynamics at play on treasury discounts and premiums. Yago expects a possible “over correction” but warns of a difficult road if premiums don't bounce soon. (15:06–17:11)
• BNB’s Price Surge: Binance Coin rockets past $1,000, driven by revenue-sharing and aggressive airdrops to stakers—creating sell pressure on new tokens and dampening the 2025 new-project market. (17:11–18:22)

5. Bitcoin OS: Innovation on Bitcoin

• Stealth Launch: Bitcoin OS is live and processing mainnet transactions, but the team hasn’t “announced” it as production-ready; yet usage is surging, especially for programmable meme coins and ZK (zero-knowledge) BTC tokens.

  “First programmable meme coin for... the entire UTXO space... 50,000 transactions over two weeks on Bitcoin.” — Yago (18:57) “We now have over $10 million in programmable BTC on Bitcoin... and a queue of hundreds of millions wanting in.” (18:57–22:12)

• Next Steps: Planned official launch (“boss” v1, BOS gas token, multi-chain support) coming in 8 weeks.
• Building a Superchain: Working with Cardano, Litecoin, Doge, Monero to integrate all UTXO chains into one “giant superchain” for DeFi, DAOs, and tokenized assets on Bitcoin.
• Institutional Bitcoin DeFi:

  “Today, 6 million BTC is held by professional money managers... with our system, we’re making it active, usable as collateral—real institutional DeFi on Bitcoin.” — Yago (22:12–24:36)

6. Bitcoin Community Fights: Core vs Knots

• Core vs Knots TLDR: Knots community builds an alt-client for Bitcoin that strips out "non-transaction data" (aka “spam”). Yago calls it “a holy war” but largely irrelevant, as different clients can see (or ignore) different data. (25:32)

  “If you don’t want the data, you don’t need the data.” — Yago (26:39)

• Melker jokes about the toxic in-fighting:

  “If I was Bitcoin core and trying to cause trouble, I’d call them Nazis.” (27:08)

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Notable Quotes & Memorable Moments

• Yago on the macro mess:

  “On the one hand, you can pick this door, it's inflation, you pick this door, it's debt. And... the whole world skewered on this problem.” (02:01)

• Scott on the Fed’s impotence:

  “Fed cuts mean jack shit. They're neutered, flaccid, limp, weak, fiscally driven market.” (03:34)

• Scott’s “super fucked/super rich” encapsulation:

  “We are super fucked. But probably right after we get super rich.” (06:28)

• Catchphrase of the episode:

  “Stonkification of tokens.” — Yago (13:06)

• Yago’s pride in Bitcoin OS:

  “It's almost as good as watching my kid walk for the first time.” (21:38)

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Timestamps for Key Segments

• BTC & Fed Reaction [00:01–06:28]
• Macro: Inflation & Asset Markets [06:28–09:36]
• SEC ETF Rule Change & Market Impact [10:19–15:01]
• Token Company Premiums, BNB’s Surge [15:06–18:22]
• Bitcoin OS Launch & Institutional Bitcoinification [18:57–24:36]
• Core vs Knots Drama [25:03–27:35]

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Tone & Style

The tone alternates between sharp macro analysis and irreverent, meme-laden humor. Yago delivers incisive, sometimes cynical macro commentary; Scott riffs off it with jokes, cussing, and pop culture references. They tackle serious industry shifts while keeping the conversation accessible and engaging.

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For Further Info

• Bitcoin OS: Follow @btcos on Twitter or visit https://bitcoinos.build
• Scott Melker: Twitter @scottmelker

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This summary covers all major themes, arguments, and takeaways from the episode, highlighting the interplay of macro trends, regulatory shifts, new tech, and the ever-colorful personalities of crypto.

Transcript

[Scott Melker]

Bitcoin is trading higher, pumping back above 117k today after the massive nothing burger that was the Fed meeting yesterday. We also have really huge news from the SEC for crypto. Not necessarily for bitcoin, but for crypto. Going to lead to a lot more ETFs hitting the market and a lot more kinds of ETFs hitting the market. We're going to discuss all of that today with Yago. It's just the two of us going back to the basics here for what we used to call bitcoin. And let's go, let's do, let's do. Good morning everybody. Happy Thursday and welcome to bitcoin and bs. That's a more algorithm friend friendly way of giving the title today. Yaga, I'm going to bring up something really fast. I want your first take. Okay? First word, like a Rorschach test. Ready? Here it comes. Go.

[Yago]

Boner.

[Scott Melker]

Perfect. Show's over. So, yeah, we had a statue of a gold statue of Donald Trump holding a bitcoin out in the national mall in Washington D.C. yeah, look at the.

[Yago]

Giant boner in the background.

[Scott Melker]

The splendor. Oh, I see the boners in Washington Monument. You didn't even see the statue. That shows really how sick you are. But I love that about you. That's why we're friends, probably national monuments about it. What do you think? I mean, somebody put that out there to commemorate our bitcoin president. The Statue of Liberty had to walk so that the golden crested statue, statue of Donald Trump holding a bitcoin could run. I mean, here's, here's where we're at. Listen, we, we, we have a, we.

[Yago]

Have a. Houston, we have a problem. The United States and the entire world has a problem. The Fed meeting yesterday was exactly a description of their problem. They're being squeezed, they're in a catch 22 situation. Right? And as a result, all of us are right. The economy is slowing down. Debt is increasing. With the increase in debt, the increase in debt payments is increasing, making the debt increase even faster. But they can't stimulate, right, because that would cause inflation. And so they're being squeezed. On the one hand, you can pick this door, it's inflation, you pick this door, it's debt. And, and, and, and the whole world skewered on, on this problem. And so one of the big issues with Trump is that he has not instituted what could potentially be the savior for the United States economy, which is to actually begin to build a bitcoin reserve. Because that bitcoin reserve is going to be needed by the United States and really by every one very, very soon.

[Scott Melker]

The executive ordered it, you know, he tried. Now we need. Well, yeah, by the way, when we get a statue of Elon Musk doing this, this is going to be when we know the top is in.

[Yago]

The. The executive order gave 180 days for them to come up with a plan. I believe the 180 days passed and.

[Scott Melker]

They did not have to come up with a clip. Yes, yes, yes. Crazy how that works. Well, the guy working on the plan went and became the CEO of Tether Us right behind. Anyways, we do have alumnus working on the plan. They did have a meeting about it that included Saylor and Tom Lee yesterday. So there is some movement. But I think now the strategic bitcoin reserve is really far down the docket as we get into midterm season and we still need to get market structure done. Be honest. But let's go back to the Fed. I tweeted this yesterday when price went down like $2012 and then came right back to where it started. As expected, Fed cuts mean jack shit. They're neutered, flaccid, limp, weak, fiscally driven market. I mean, you just pointed this out, right? I mean we had papal basically say inflation's heating up a little bit. Job numbers are kind of bad. I'm going to cut for risk management. In other words, he cut because he was bullied and felt like he just had to do something. But if they cut, inflation's going to go up, debt's going to continue to go up, and if they don't cut, nobody has a job. So it seems like a stagflationary situation here. Right.

[Yago]

Look, something's got to give. What is clearly already giving is inflation. Inflation target 2% hasn't been hit in three years.

[Scott Melker]

There is basically just say yesterday 3%'s fine. Yeah, I mean my rating of what he said Yesterday is actually 2% out the door because you don't cut if you're not.

[Yago]

Well, they didn't. They didn't. So what they haven't done yet and probably what they won't do is, is, is readjust the inflation target. What has actually happened is they've abandoned the inflation target and so now 2% or 2% adjacent. Right.

[Scott Melker]

Three is adjacent to 2%. A made up number anyways.

[Yago]

But yeah, yeah, so. So what's going to happen is we are going to see persistently higher inflation than we've seen. This whole idea of transient inflation that's out of the Window as well. And this is not great for anyone because even though we're seeing inflation, we're not seeing the same rise in asset prices anymore, and so it's even hurting asset holders. We're now at a place in the us so I'm not American, but I read your economic data. 50% of all consumer spending is now coming from the top 10% of income in the U.S. so the sort of middle class doesn't exist anymore. What is the middle class today is people earning $200,000 as a household or more. They represent the US economy, and they're obviously a very small percentage of the total economy. It's a very, very difficult time for most people and going to get more difficult.

[Scott Melker]

Yeah, I fully agree with that. So after the Fed meeting where we kind of joked that the most obvious thing would be for everything to just go sideways because it's a nothing burger, because it was the most projected rate cut ever, and we knew Powell was not going to come in dovish and promise a whole bunch more rate cuts, I went back to basics. And you said, hey, you have a tweet that I want to talk about, right? And this is what I said. I was really on one yesterday. A lot of bad words. I was told, by the way, that the algorithm hates when you use capital letters and it hates when you cuss. So I started reusing capital letters and cussing a lot because the algorithm is just feeding me to AI bots anyways, so I'm just going to be human. We are super fucked. But probably right after we get super rich. And you said to me, what do we mean by that? And we have this history of after rate cuts when markets are at highs, basically, I think it's 20 out of 20 times that we've been within 2% of all time. Highs on the stock market. And they cut the next 12 to 18 months. Close. Much higher. Things go up. There's more inflation, of course, but asset prices go up. So what I was saying when I said this is that the more we inflate, the more we kick the can down the road, the worse the inevitable crash. I mean, that's just nature, right? So you get rich, you hopefully take profit, and then the Mike McGlone collapse.

[Yago]

Yeah, and then I, I said that this is the. This is the optimistic take. And, and what I mean by that is that that used to be the playbook. And the reason that used to be a playbook is because throughout, from 2008 all the way up to 20, 20, 21, every time they would do rate cuts, they would juice the economy and there would be inflation, but the inflation would only show up in asset prices. But what's happened now is the trickle down effect, right? The rich get richer and that inflates for everyone. The rich inflate and now the inflation is trickling down to everyone else. And so the problem is that the impact that we're seeing on asset prices is being reduced and the ability for the Fed to juice is being reduced because it's politically not palatable to increase inflation. I suspect that they will do it anyway in that there will be midterms in the, you know, upcoming next year. And so it is going to be in the best interests of the incumbent party to juice in the short term for long term pain. And that inflation will be long term pain. And so we're likely to see that. But at the same time, these weakening economic conditions, they are, they are a real problem. So there is a chance because we're stuck in the horns of a new dilemma that instead of getting rich before we get, we just get, do not pass go, do not collect 200.

[Scott Melker]

So I'm going to stick with the optimistic view where I'm not homeless or at least I could afford a home before I'm homeless, so I get to have a nice vacation before things go bad.

[Yago]

You know, you're not a homeowner, Scott.

[Scott Melker]

I am a homeowner, but they're going to take it away when it all goes down, obviously, or hopefully I'll be able to at least refund wealth.

[Yago]

Check.

[Scott Melker]

Okay.

[Yago]

I think the future, actually what I think really is going to happen. I think one of the reasons that real estate is less attractive to me as an investment avenue than it has been in the past is I think that governments are going to need to close this, this debt gap and that one of the ways to do that is going to be to tax the one thing which can't run away, which is real estate. And so I think what we're going to see is property taxes or wealth taxes tied to, tied to real estate.

[Scott Melker]

Sounds awesome. I'll be looking forward to that. So we do have a catalyst here for the crypto side, obviously, actually quite a huge one and one that a lot of people have been waiting for. And I think just in the Fed news and all this, this is just another story at this point, but this would have been the story of the century. SEC approves generic listing standards for faster crypto ETF approvals is not actually specific to crypto ETFs. It's for all markets. But in the case of crypto, basically if you have futures trading available for six months on a registered exchange, spoiler. The only one that qualifies in crypto is Coinbase. Then you automatically get an ETF approved for your token after it's been six months. If you apply, it massively diminishes the time to get it done. I think the averages have been 200 days as comes down to 40 to 60 days or something. I'm probably misquoting that it might be 80 days. So somewhere in that ballpark. So that now applies to basically a bunch of tokens that I thought I had a tweet up for. Here they are. These are all the tokens. Bitcoin, Nano. Bitcoin. That's their small contract. Okay. Ether, Litecoin, Bitcoin Cash. Look forward to that. Dogecoin Gold, Crude Oil Cool. Polka Dot, Shibu Inu ETF coming in hot. Avalanche Chain Link, Stellar Silver, Solana, Hedera Natural Gas, Cardano xrp. So you can expect that all of those could get approved literally right now.

[Yago]

Yeah. Who, who would have thought that the biggest competitor to binance in, in 2026 would be the NASDAQ?

[Scott Melker]

Yeah, seriously, that, I mean that is a hundred. That is a hot spicy take because that is accurate. I thought you were gonna say Coinbase.

[Yago]

I mean, I mean it's, whatever it is good for Coinbase. This is good for Coinbase's institutional and perpetuals business. Right. But, but what we're seeing is the stonkification of tokens and, and, and, and effectively what the regulator is doing. And this is the exact 180 degrees of what Gensler was trying to do. Gensa was trying to extinguish crypto. The current SEC and the overall regulatory environment is doing a embrace, bear hug. So that basically by embracing crypto they are dragging crypto into tradfi. And this is going to work great. It's going to be good for number go up, not great for number go up, but good until things get bad. But this is, they're basically setting up honeypots that they'll be able to tax in the future.

[Scott Melker]

You said stonkification of tokens.

[Yago]

Yes.

[Scott Melker]

Remember we were talking about, we're talking about the tokenization of stonks, but you're talking about the stonkification of token. That was. Man, you're, you're, you're in fire today. We got to do these just us shows more often. It's good because, you know, it's like you got to get one more.

[Yago]

I'm more polite when there's someone else on the call.

[Scott Melker]

I know. You got to get warmed up, though. You know, you got to get in your rhythm. The flow state of catchphrases and stockification of tokens is really good. And by the way, it's not just that news. This other story I just like not even being reported. SEC approves the first US Multi asset crypto ETP from Grayscale. This has Bitcoin, Ether, xrp, Solana and Cardano.

[Afani Representative]

We've literally.

[Scott Melker]

I've had Matt Hogan on here so many times talking about how the future of investing for crypto is index funds, because that's how Americans are used to investing. Why choose a bitcoin one, Ethereum one, when you can just choose a crypto index? The same way that everybody buys a mutual fund. Right. It actually just happened, but it happened while Jerome Powell was coughing and sneezing to the left and right and driving global markets haywire.

[Yago]

Yeah, the. The thing is, I, I think the impact that we are seeing so far from this has been muted. Bitcoin had an amazing storming out of the Gates ETF and had an amazing storming out of the Gates sort of bitcoin. Treasury company MicroStrategy, Meta Planet did amazing. What we've been seeing since has been diminished from there. So we saw the Ethereum ETF sort of get a slow start and then grow over time. I don't think this is going to have an immediate impact. What it might do is start get Wall street analysts looking at these assets and then over time, as a result, brokers and financial advisors will be reading about them.

[Scott Melker]

They're going to have to understand what they're buying and what's underlying. To your point, I don't know how.

[Yago]

You would possibly understand what any of this stuff is, but even people in the industry don't know what any of this stuff is. But. Yeah, but you know, while we're on the subject and on the subject of stockification of tokens, I think the biggest news out of this week is the 50 drop in one day of Nakamoto Naka again.

[Scott Melker]

Yeah, I wrote a whole newsletter on it. It's all we've talked about because it needs to be talked about.

[Yago]

Yeah, well, I mean, I, I don't want to belabor the point, but we've seen massive compression of, of the premium on these digital asset companies. I can also give you. It's a little bit. You know, you probably know this, but, but the, the inside scoop on how the sort of non bitcoin treasury companies are being done is, is they are raising money at a discount. And the only way that that's possible and still give the investor a premium is they are getting an even bigger discount from the Treasuries from which they're buying. Right. And so it's very, very insider.

[Scott Melker]

Shocking.

[Yago]

What I think is going to be interesting is I don't necessarily think this is the end of the story. I think this might be sort of a, you know, a significant correction, maybe even an over correction. It will be interesting to see IF Naka Pro Cap 21 MicroStrategy Meta Planet are able to pick up from here and post stronger premiums over the next two months. Because if they're not, if it doesn't happen in the next two months, then I think it's going to be a long slog of trying to build up those premiums again. It's going to be a pit of despair for a while.

[Scott Melker]

Yeah, you mentioned Binance, by the way. I think this is worth noting. That Binance coin just passed a thousand bucks.

[Yago]

Yeah, crazy. It's a phenomenally performing, phenomenally performing coin. And because not only are you getting a piece of Binance's sort of indirectly, you're getting a piece of Binance's revenues, but every single token that ICOs, you know, the stakers get, get, get an airdrop and it's. And these are hefty. Right? One of the reasons that so many projects, this is not true for all projects, projects that are responsible and sort.

[Scott Melker]

Of.

[Yago]

You know, are managing their relationship with Binance more closely, are managing to avoid this. But there have been a fair number of projects that have given a huge amount of tokens to Binance and those tokens are given to the Binance community which goes within 72 hours, has liquidated all of them. And so a big part of 2025's inability to get significant bid for new projects is actually that dynamic.

[Scott Melker]

Yeah, that makes a lot of sense. So listen, let's talk about what you're doing. So I've obviously very close to Bitcoin os, very passionate about bitcoin os. There's a reason that we do a show together every Thursday because I've always believed in everything that you're building. I'm seeing a lot of chatter again, transactions obviously on bitcoin seemingly rising massively here. ZK roll ups on Bitcoin starting to really become a serious thing, which you proved last year on stage live at the Bitcoin conference. What's going on?

[Yago]

Yeah. So yeah, what we've done with Bitcoin OS is unusual. The system is live, it's on mainnet, it's on Bitcoin. But we haven't announced it being live yet because we, we haven't sort of, we. No, no, it purposefully, we haven't announced that we believe it's production ready. So people are using a Mainnet system, but we haven't declared it production ready yet, but people have started using it. And so for example, the first programmable meme coin for not just Bitcoin but the entire UTXO space was launched using our CHARMS protocol and has delivered close 50,000 transactions over the course of two weeks on Bitcoin. On Bitcoin mainnet representing a extremely significant percentage of all of the transaction activity currently on Bitcoin. And this is even before we've launched and at the same time the first truly programmable BTC tokens were issued. We now have over $10 million in programmable BTC on Bitcoin. We call it ZK BTC. So it's just taking a BTC token and wrapping it in zero knowledge programmability and institutional users are using this as a way of turning their Bitcoin into collateral that they could actually use without taking on any counterparty risk. And we now have a line of hundreds of millions of dollars of Bitcoin that want to enter the system. And we're going to be progressively over the next few weeks and months increasing the cap of the amount of ZKBTC that is allowed. So we're seeing a level of sort of traction and a level of adoption to the system which is well beyond that what I think anyone, anyone was anticipating certainly prior to our, our official launch. And I think the other cool thing is that we are getting close to an official launch. The Bitcoin OS boss sort of v1 will be launching. Officially we will have the boss token which will act as the GAS token for bitcoin will be launching as well. And we will be on a number of different chains and a number of different exchanges. And we expect all of this over the next eight weeks. So it's a phenomenally exciting time. First programmable Bitcoin, the first programmable non bitcoin tokens. Massive transaction activity on Bitcoin. It's sort of what I've been working towards for all of the years is materializing in front of my eyes. It's a, it's almost as good as watching my kid walk for the first.

[Scott Melker]

Time right there, right There, I won't tell your wife you said that. So, I mean, with all of this, obviously you have bitcoin OS which allows other people to build on bitcoin as well. Right. I mean, it's effectively an operating system. So with people seeing this, what do you anticipate happening? How do you forget see other people just coming in and open, sourcing it and using it once it's kind of flown. And the secret is out there because the possibilities are basically to do anything you can do anywhere else on bitcoin.

[Yago]

Yeah. And more. We think there's three big things. One, sort of on the consumer, everyday user side, the ability to bring defi to Bitcoin, the ability to issue new tokens and bitcoin daos on bitcoin. Meme coins are really anything people can imagine on bitcoin. Another big part of it is what we think of as like the B2B or really we should call it C2C chain to chain. So we're working with Cardano and with Litecoin to integrate them as well as Doge Monero, integrate all of the UTXO chains into Bitcoin as one giant super chain. And so those ecosystems will basically plug in directly into Bitcoin and be supercharged by Bitcoin both by its security and by the asset value in bitcoin. And so there's a huge excitement there within those communities around that as well. But the third thing I think is maybe the most mysterious, most interesting thing. Today, 6 million BTC is held and managed by professional money managers. Right? And these are people, you know, for all of the years of bitcoin and crypto that we've had all 15 years, basically there's been two kinds of people involved. Hodlers who want to take no risk except for holding this asset in their wallet, and degens who will take any risk without any risk management. But we have this huge amount of BTC now with a third group, which is the institutional money, professional money manager. And they see taking no risk as a risk, but they only want to take risks that they can manage. And the first thing that they want to get rid of is counterparty risk. And so what we're starting to see is, and this is what we saw with, you know, the first few million dollars of ZKBTC entering our system and the fact that we have agreements for like a queue now for more BTC to enter the system is that we're, we're making the 6 million BTC active. We're letting it do something, be used as collateral, be utilized in trades, transactions and for the first time institutional defy. And so we're basically bringing trip. You know, we spent the first part of this conversation talking about the stunkification of tokens.

[Scott Melker]

We did conversation talking about boners.

[Yago]

Yeah, we're going to end with the Bitcoinification of TradFi. So we're bringing, we expect to bring tens of billions of BTC and then with it other assets as well on chain Bitcoin and by extension the other chains that are integrated into Bitcoin via boss as well.

[Scott Melker]

I know we've only got like two more minutes left. I see this comment. I bet the Knots guys just love this BOS idea. I'm assuming that's sarcasm. Dude, I missed like these are. There's some things at this point where I like have to make a major effort to opt out of and Core versus Knots is one where I saw two stupid words and wanted nothing to do with any of it. But it keeps coming up in my thread. Can you give me the 32nd TLDR on core versus knots and why we should care?

[Yago]

Fundamentally, what it comes down to is there is the sort of like Knots community who are trying to build a alternative client for Bitcoin. So instead of the Bitcoin core client, the Knots client which will strip out non transaction data from operator, in other words transaction data that is in bitcoin that they consider spam. And, and so they're. They believe that anything which isn't like a simple BTC transaction on Bitcoin shouldn't exist on Bitcoin. And so it's a bit of a holy war right now. Ultimately I think it's completely meaningless because what Core want to introduce is a very insignificant change which wouldn't impact this at all. And the fact that people are running Knots clients which strip out this data just means that they don't see the data but other people can. Which I think proves the point that this is great, right? Like if you don't want the data, you don't need the data.

[Scott Melker]

And if you do have sites blocked on my. I have those sites blocked on Google, therefore they don't exist. Awesome.

[Yago]

Yeah.

[Scott Melker]

Are these the people that are pushing for it?

[Yago]

You know, basically what's happened is the sort of toxic Mexi Bitcoiner that's not. Has now become nuts. They, you know, they've gone from being nuts to nuts.

[Scott Melker]

Dare I? You'd never say this about anyone, but if I was Bitcoin core and was trying to cause trouble, I would call them Nazis.

[Yago]

Oh, I. To be honest, I'm not really involved in the debate.

[Scott Melker]

That's what we do in the United States. We call everybody Nazis. So you could do K N O T S otsi. Okay, I'm gonna go Yago. Where can everybody check out what's happening with bitcoin OS before I get off to your call?

[Yago]

Check out btcos on Twitter or bitcoinos build on the Internet.

[Scott Melker]

This one's good. Dee's not. I would go with that one, having been a kid of the 90s rap. All right, guys, we're going to end this before I get myself in a lot more trouble. We will see you tomorrow for the Friday 5. Thank you so much. I go see you later.

[Yago]

Thank you.

[Afani Representative]

If your mobile number was stolen and your passwords were reset, would you even know it until it was too late? Your crypto wallets, exchanges, email, bank cloud account, gone. Because someone took over your phone number and hijacked your two factor authentication. This is called a SIM swap attack. And in the crypto world, it's one of the most devastating ways to get hacked.

[Scott Melker]

It's not rare.

[Afani Representative]

It happens every single day. That's why I've personally been a customer of Afani for years. In fact, I've been with them since before it was even called Afani. When I was the victim of a sim swap and my friend Charlie Shrem introduced me to the CEO of and founder Haseeb, I trusted them with my security first and because I believed in it so much, I later became an investor in the company as well. The funny is built to stop SIM swaps, protect your privacy, and back you with $5 million in insurance just in case. They even include complimentary international data roaming so you can stay secure but also stay connected all around the world. Top crypto investors, traders, influencers, public figures and financial institutions use Afani because one attack can be so, so costly. Afani is offering a discount for our community. And to learn more, go to afoni.com Scott Melker to get a secure mobile.

[Scott Melker]

Service with peace of mind.

[Afani Representative]

That's E-F a n I.coms o-t t m l k dash e r. You can also find the link in the description and show notes. In crypto security isn't optional, it's survival.