Hey everyone, and welcome to the Bitcoin Street
Journal Market Update. I'm Laura, filling in
for Anna, who is currently MIA, lolz. And I'm
Finley, glad to be back in the saddle. Absolutely.
For those of you who are new to the show, Finley
and I break down the latest happenings in the
world of Bitcoin. But we try to keep it fun,
right? Attempt to, at least. No promises. Well,
I think we usually succeed. Anyway, today we've
got a jam -packed show. We're diving headfirst
into some Bitcoin breaking news, major debulletments
that could impact your portfolio. Yep, we'll
be dissecting all the angles and giving you our
take on what it all means. And then we're going
to switch gears completely and explore something
totally different but equally fascinating, Noster.
NOSTER, the protocol that is really making waves.
It could be the future of decentralized social
media, and, well, frankly, it's pretty damn cool.
I'm excited to pick your brain about that one.
So buckle up, grab your favorite beverage, and
let's get started. All right, Finley, let's jump
right into the Bitcoin market overview. What
are you seeing out there? It feels like it's
been a roller coaster lately. Roller coaster
is definitely one word for it. We've seen some
pretty significant price swings in the past week.
You know, after that initial surge, it has been
a bit choppy. We saw Bitcoin hit, what, 70 ,000
and it's kind of pulled back since. Yeah, I noticed
that. I was wondering if it would hold at that
level. What do you attribute the pullback to?
Well, a few things, I think. Profit -taking is
definitely a factor. People who bought in earlier
are cashing out some of their gains, which is
to be expected. There's also been some FUD floating
around. You know, the usual concerns about regulation
and macroeconomic factors. Right, the old faithfuls.
And what about trading volume? Has that been
affected? Trading volume has been pretty high,
actually. Even with the price dips, there's still
a lot of activity. which suggests there's still
strong interest in Bitcoin. People are buying
the dip, or at least trying to. So despite the
volatility, the underlying sentiment is still
relatively positive? I think so. You know, looking
at the on -chain data, we're seeing continued
accumulation by long -term holders. That suggests
that people aren't panicking, and they still
believe in the long -term potential of Bitcoin.
Plus, These dips shake out the paper hands. Good
point. So for our listeners, what's the key takeaway
here? Is this a buying opportunity or should
they be cautious? Well, I'm not a financial advisor,
so I can't give specific advice. But I would
say it's always important to do your own research
and understand the risks involved. But generally
speaking, if you're a long term believer in Bitcoin,
these pullbacks can be good opportunities to
add to your position. Okay, that's a fair assessment.
So keep a close eye on price movements, trading
volume, and overall sentiment, and make informed
decisions based on your own risk tolerance. Got
it. Okay, Finley, so what's the first big piece
of Bitcoin news we need to unpack for everyone?
I've been seeing some chatter about the latest
regulatory updates. What's the deal? Ah, yes,
the regulatory landscape. Ever -changing. Well,
the big one that's caught my eye is the EU's
recent move. They are considering stricter rules
on self -custody wallets. Oh boy, here we go
again. So what exactly are they proposing? And
what does that even mean for the average Bitcoin
user like me, who's just trying to, you know,
hodl? Right, so essentially they're looking at
implementing measures that would require crypto
exchanges to verify the owners of unhosted wallets.
That's basically wallets that aren't held by
a third party. So if you want to send Bitcoin
from your own wallet to an exchange, they might
need to collect more information about you. Okay,
I think I get it. So it's making it harder to
move Bitcoin anonymously between your own wallet
and, say, an exchange. But does this mean they're
going to be able to see everything in my wallet?
Because that is like a huge privacy concern.
Not exactly see everything, but it definitely
chips away at the pseudonymity that Bitcoin offers.
The idea is to combat money laundering and illicit
activities. But of course, there are concerns
about overreach and the impact on legitimate
users. Right. Because criminals are always going
to criminal. And this will just make it harder
for regular people to use Bitcoin. It's always
the way. But I mean, Practically speaking, how
would this even work? It sounds like a logistical
nightmare. It is complex, no doubt. Exchanges
would have to implement systems to verify wallet
ownership, which could involve things like requiring
users to sign messages with their wallets or
provide other forms of proof. And honestly, the
technology to do this seamlessly isn't quite
there yet. Okay, so it's clunky and invasive.
Got it. What impact are we expecting on the market?
Do you think people are going to start selling
off their Bitcoin because of this? It's possible
we could see some short -term price dips as people
react to the news. There will definitely be some
uncertainty and, frankly, annoyance. However,
I think the long -term impact will depend on
how strictly these rules are enforced and how
easily people can adapt. Adapt how? Like finding
ways around it? Well, yeah, there are always
ways to enhance your privacy when using Bitcoin.
Even with regulations. Things like using CoinJoin
or Lightning Network. Using decentralized exchanges
that don't require KYC know your customer. People
will find solutions. They always do. Right. The
Bitcoin community is pretty resourceful. So what
should our listeners be doing right now besides,
you know, not panicking? Stay informed, first
of all. Keep an eye on how these regulations
are developing and how they might affect you.
Consider exploring privacy -enhancing tools if
you're concerned about your transactions being
tracked. And, most importantly, continue to advocate
for sensible regulation that doesn't stifle innovation.
Solid advice, Finley. So keep calm, stack sats,
and fight for your right to transact privately?
Got it. Okay, what's the next breaking news?
Okay, so the second piece of breaking news, and
this one is, well, it's a bit more positive,
thankfully. Ugh, good. I need some good news.
Lay it on me, Finley. Alright, so, uh, remember
that BlackRock Spot Bitcoin ETF we talked about
a while back? Yeah, the one that everyone was
watching like a hawk? What's up with it? Well,
it's officially been approved by the SEC. Finally!
Oh my gosh, it felt like we were waiting forever!
Does this mean what I think it means? Like easy
Bitcoin access for, like, everyone? Pretty much,
yeah. This is huge for mainstream adoption. It
opens the door for institutional investors and
everyday folks to get exposure to Bitcoin without
having to directly hold the asset. Think about
it. It's going to be available on their brokerage
accounts, right next to their stocks and bonds.
Wow. Okay, so like grandma can now buy Bitcoin
without even knowing she's buying Bitcoin? Exactly.
Okay, maybe not grandma quite yet, but you get
the idea. It dramatically simplifies the process.
This is something of a watershed moment. Okay,
okay. I see the potential. More demand equals
higher prices, right? That's what everyone's
hoping for. But are there any downsides? Like,
does this mean BlackRock now controls Bitcoin
or something? No, no, absolutely not. BlackRock's
ETF is simply a fund that holds Bitcoin. It doesn't
give them any control over the Bitcoin network
itself. The network is still decentralized. Think
of it like a gold ETF. It doesn't give the fund
manager control over all the gold in the - Okay,
that makes sense. So it's just a convenient wrapper
around Bitcoin? Precisely. And that convenience
is what's driving the excitement. It will bring
so much liquidity to the space. So what should
we do now? And I mean our listeners, as well
as you and me. Should we be buying more Bitcoin
in anticipation of this ETF driving up the price?
Well, I can't give financial advice, of course,
but I mean, it certainly strengthens the case
for Bitcoin as a long -term investment. Do your
research, consider your risk tolerance, and yeah,
maybe it's a good time to re -evaluate your portfolio
allocation. Personally, I'm feeling pretty bullish
about this. Okay, so shifting gears completely,
let's talk about Noster. Noster? Never heard
of it. Is that like a new crypto thing? Sort
of. It's more of a protocol than a cryptocurrency.
Think of it as a completely decentralized social
network. Okay, hold up. Decentralized social
network? So no central company like, you know,
Twitter or Facebook running the show? Exactly.
There's no single point of control. No one can
censor you, deplatform you, or shut down the
entire network. Okay. Hey, that sounds interesting.
But how does that even work? If there's no central
server, where does all the data live? That's
where it gets cool. Nostr uses a network of relays.
Think of relays as public bulletin boards. You
post your messages to these relays, and anyone
can subscribe to those relays to see your messages.
So it's like email? I send an email, and it goes
through a bunch of servers before it reaches
the recipient. It's very similar, yeah. Except
with Nolster, anyone can run a relay, and you
can choose which relays you want to use. You're
not locked into one specific platform. Okay,
so I could post something on, like, relay A,
and someone could see it on relay B, even if
those relays aren't connected to each other directly?
Correct. Your client, your Noster app, handles
the connections and makes sure your messages
get distributed. And the really neat thing is
that everything is end -to -end encrypted using
public key cryptography. Okay, crypto, cryptography.
You're losing me a little bit. So it's secure?
Super secure. Only you and the intended recipient
can decrypt your messages. No one else. Not even
the relay operators. OK, I'm starting to see
the appeal. So it's like freedom of speech, but
for the Internet? Precisely. And it has huge
implications for Bitcoin. Because it's censorship
resistant, it can be used to build all sorts
of things on top of Bitcoin, things that are
impossible on traditional social media. OK, so
beyond just like tweeting about Bitcoin, what
are some of these implications? What can you
really do with Noster and Bitcoin together? Well,
think about it. Censorship -resistant marketplaces.
You could have a completely decentralized eBay,
where no one can deplatform sellers or censor
listings, all powered by Bitcoin payments through
the Lightning Network. Whoa, okay, that's actually
pretty huge. No more getting banned like having
your PayPal or YouTube account locked due to
possibly a bad review or transaction? Exactly.
Or think about decentralized crowdfunding. People
can donate Bitcoin to projects they believe in,
without fear of the platform shutting them down
or seizing the funds. So it's bypassing the gatekeepers,
basically. Completely. And it's not just about
commerce. It's about communication, too. Think
about journalists operating in oppressive regimes.
They can use Noster to communicate securely and
anonymously, and even accept Bitcoin donations
to fund their work. Okay, that's legitimately
powerful. But are there any downsides? I mean,
everything has a catch, right? Of course. The
biggest challenge right now is probably user
experience. Gnoster is still pretty early, and
it can be a bit technical to set up and use.
Yeah, I was going to say, all this talk about
relays and cryptography, it sounds intimidating.
It can be, but it's getting easier all the time.
And there are a lot of developers working on
making it more user -friendly. Another challenge
is moderation. If anyone can post anything, how
do you deal with spam and illegal content? Oh,
right. That's a huge issue on regular social
media, never mind something totally decentralized.
Exactly. The answer isn't simple. Nostra relies
on users to filter content themselves by choosing
which relays to use and which users to follow.
It's a more... community -based approach. So
it's relying on the users to self -police in
a way. Precisely. It's not perfect, but it's
a different model than the top -down censorship
we see on traditional platforms. And ultimately,
I think NOSTER represents a fundamental shift
in how we think about the Internet. So... It's
the future of social media? It could be. It's
still early, but the potential is definitely
there. So what's next for our listeners? I think,
honestly, the best thing you can do is just dive
in. Download a Nostr client. There are a bunch
out there. Start experimenting. Get yourself
a Bitcoin lightning wallet if you haven't already.
Send some sats, follow some interesting people,
and just see what it's all about. I think I'd
add to that. Maybe start small, you know? Don't
feel like you have to become a Noster expert
overnight. Just try sending a message. Following
the few people. See what the community is like.
And definitely be careful with your private keys.
Don't go sharing those with anyone. That's like
giving someone the keys to your Bitcoin vault.
Solid advice, Lara. Start small, stay safe, and
get ready for a whole new world of decentralized
possibilities. And, you know, come find us on
Nostr. We'll post our pub keys in the show notes.
All right. So to recap, today we dove into some
pretty wild Bitcoin breaking news, didn't we?
Analyzing the market impacts. Absolutely. And
then we explored Nostr, this fascinating new
decentralized social network that could really
change the game. Definitely got my gears turning.
I'm still trying to wrap my head around it all.
That's the beauty of it, Laura. It's a journey.
And thanks to all of you for joining us on this
one. We really appreciate you tuning in to the
Bitcoin Street Journal Market Update. Yeah, we
really do. If you enjoyed this episode, please
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people find the podcast. And if you're feeling
extra generous, share it with a friend who you
think might be interested in Bitcoin and Noster.
Oh, and be sure to check out the show notes for
all the links and resources we mentioned today,
including our Noster public keys. Come find us
at the BitcoinStreetJournal .com and say hi.
Absolutely. We are always up for a chat or a
debate, you know, whatever sparks your interest.
This has been the Bitcoin Street Journal Market
Update Podcast. Until next time, stack sats,
stay humble, and we'll catch you on the next
block.