News: The Crocodile Pit

Added: 2026-06-06

[00:00:01]Hello and welcome to another little bit of Satoshi's news. Today's date is Friday the 5th of June 2026, the year of green wicks and BSV teranode in the mix branch of thirds expand your mind with Tree Chat DI. All your posts put on chain. All right, so we're just going to literally go through and catch up on the stuff that I didn't do on the previous show. I'm going to go read through this article. It's a tough one.

[00:00:21]I have to put a warning out before I read it to everybody. And then we'll have a quick look at the figures, see what's up with what is going down, and then that'll be the end of the show.

[00:00:29]Right, let's get into it.

[00:00:32]>> [music] [music] >> All right, here we go. So this is great.

[00:00:55]So Bridget has just posted this with a laughing emoji.

[00:00:59]Uh from Alex B who I've actually blocked. So I can't actually see him on on X. I can't What it says the post has been taken down, but here on Tree Chat we can still see it. Like this is ace.

[00:01:11]So have a listen to this. Alex B had said here, I've gone and blocked. He said holy effing So let's have a listen to what he's talking about.

[00:01:19]>> So we've chosen some of the most trusted names in the space to work with us to help provide this for free. So BlockFi and Silvergate have teamed up to partner this so we can bring this to all of you and for you to share it with as many people as possible. I think you know by now how important this digital revolution is and I urge you to take part in this. Stuff like Terra Network you can just put money, stake the network, and get 20%.

[00:01:49]And they're basically risk-free if you want to own that network.

[00:01:53]>> I'm massively overweight sweet.

[00:01:57]Oversold, >> Massively.

[00:01:59]>> Can I ask you percentages wise, more more or less?

[00:02:04]>> I'm definitely over 70% sweet. And that's not anything to do with the foundation that I'm on. That's my just capital allocation of my savings. And >> Um I added some Zcash.

[00:02:15]>> Mhm. Why?

[00:02:16]>> more sweet, obviously. Um but I added bit of Zcash.

[00:02:22]>> Oh my goodness me. Oh my goodness me.

[00:02:26]So in 2020 when he was promoting uh BlockFi and Silvergate, um BlockFi fell in November 2022 and Silvergate in March 2023 don't exist anymore. Then in 2021 uh he was promoting Terra Luna and Luna collapsed in May 2022.

[00:02:43]Um then he said he was a huge a bought loads of sweet and sweet down 83% from its all-time high network completely halted in uh May 28 or May 28 2000 of 2026 the following year. Uh and yeah, in 2026 he's saying, "Oh yeah, I've just bought just bought more sweet."

[00:03:04]And so that would have been before the network was completely halted. He is he has lost an absolute shedload. An absolute shedload. And what do they always say? Never get involved with something you know nothing about. You know? And there he is, you know, pitching himself as the expert telling other people what to do. You're effectively giving out financial advice.

[00:03:23]Absolutely outrageous. Absolutely outrageous.

[00:03:27]But yeah, anyway.

[00:03:29]But uh yeah, let's go on to my profile here.

[00:03:33]So uh I've just And I would recommend everyone get involved in Tree Chat.

[00:03:37]Look, people have been up voting my posts on there and you can have a look on your Tree Chat wallet. So I've got uh I've got $1 uh 99 in there like from nothing. So um all I need to do is, oh, so if I can multiply that by by five, um, that'll give me a Bitcoin. That'll give me a Bitcoin. A Bitcoin, and we all know what a Bitcoin's going to be worth in the future. That'll give me a Bitcoin sitting on Tree Chat just for doing nothing. You know, get on there, people.

[00:04:09]It could be absolutely ace. Absolutely ace.

[00:04:13]Which is why I've just linked this article, uh, on here.

[00:04:17]Um, and the reason I've posted this on Substack is just because, um, Paybit is uh is down at the moment. Um, this was a page that I contemplated not writing.

[00:04:29]I was going to, sort of, you know, leave it out from the book. Um, it actually I actually found it quite hard to write.

[00:04:35]Um, bringing back some sort of painful memories of uh what I went through. So, um, it is pretty hard listening. Um, so, you know, if you're sort of squeamish or easily offended, I would say, um, look away now. Don't listen to this, but uh but this is what I've written.

[00:04:52]So, whether this actually your page two, chapter two, um, is the exact page and chapter in the book, who knows. But I've entitled it here the crocodile pit.

[00:05:02]So, here we go. Get ready.

[00:05:05]As I recover, I realized I must somehow recall my journey so I can explain it to others and maybe write a book on the subject matter to help people get through what I endured. The ideations of hanging myself to eventually detach the head from the body in order to remove the pain and experience a sense of relief, or the ideation of jumping off a platform to feel a sense of peace knowing that the pain would finally end within a few moments was so appealing that they almost became a fantasy.

[00:05:30]On my journey, I came across many tales of woe that I used as a case studies for my learning while trying to figure out what was wrong with me. One particular story that I never forget was that of a suicidal middle-aged man who jumped over the railings of a footbridge that crossed a crocodile pit in a wildlife park.

[00:05:46]The story made it into publication because there were witnesses that saw it happen. Those who saw it said it was no accident and that he fully intended to do what he did. However, once he was in the muddy waters of the enclosure with a crocodile swimming towards him, he then started screaming for help, but it was far too late. You can imagine what happened. I'm not going to describe it here. I just remember thinking what on earth would motivate someone to do that?

[00:06:07]Why? Well, now I know. The pain he'd been experiencing in his head for the from the cortisol dissolving the neurons in his hippocampus would have been too much to bear. So much so that he'd rather throw himself into a crocodile enclosure, be ripped apart and eaten alive than carry on enduring the pain.

[00:06:23]That's how bad it is. But what he hadn't accounted for in his final moments was that due to his uh cortisol levels being maxed out, this experience would shock the hippocampus into functioning. The cortisol would have instantly been cleared from his brain providing a sense of relief and clarity. Then the realization of what he had just done would have dawned on him and he would have changed his mind, which is why he then started screaming for help.

[00:06:46]I remember reading the story and thinking how insane it was, but at the same time realizing I too was on an emotional journey and hoped that it wouldn't lead me to do what he'd done. I was fairly sure it wouldn't, but I knew I was on a downward spiral and didn't count anything out because everything I was experiencing was raw and unprecedented, so who knew?

[00:07:04]My warped sense of interest had led me to uncover the horrors of real life. I'd seen what drug cartel rivals did to other gang members, heard witness testimonies over human trafficking victims, found out about human organ and satanic ritual abuse. All these things that I previously thought were reserved for Hollywood fantasy I now realized are reality and happening on an industrial scale worldwide. I'd been sheltered and protected from them my entire life until now.

[00:07:30]Looking back, I can see that everything was a wake-up call and would later be used as an eternal flame burning inside of me to put right the wrongs of this world. I still remember the story of two young schoolgirls on their way back from on the way back from school, on the way home from school. They were raped and murdered as part of a gang initiation.

[00:07:47]The gang members had brutalized the girls so badly that their ribs had been broken and shoe prints were on their faces where they'd been kicked and stamped on. Eventually, the killers had used the shoelaces from the girls' own shoes to strangle them to death. It was truly horrific, but just when I thought I'd heard it all and things couldn't get any any worse, there were all there always seemed to be something more as if the universe was teaching me to never think anything was it.

[00:08:11]Fred and Rose West were an English couple that lived in Gloucestershire in the 80 in the 1980s and 90s. Fred would bind his victims up with duct tape while they were still alive, hang them upside down in his cellar, then use a whip and other torture devices to mutilate their bodies while simultaneously asphyxiating them. Eventually, he dismembered them for his own sexual gratification and buried them in his garden.

[00:08:33]I soon realized that my brain couldn't fathom the depth of the of the depravity of some people. I just wasn't wired that way and had no desire to be either. The reason I was interested in these things is because of the paradox it created in my mind. I was suicidal, wanted to kill myself, yet at the same time horrified by someone else being killed and wishing I could save them. Obviously, I wouldn't be able to help or save anyone if I was dead, so the desire to save others helped directly combat the suicidal ideations I was experiencing. All of this was unearthing emotions that I'd never experienced before and teaching me how to process them in my mind. I had no idea that I'd have to use these same techniques years later and that they would play a crucial and that they would play a crucial part in my life.

[00:09:14]There we go. So, that's just one page of this book, people.

[00:09:17]Um, you know, I hope you enjoyed it. Um, you know, it's going to be published when I eventually get it finished. Um, that's just, you know, one page of it.

[00:09:25]You know, I'm releasing the pages on Paybit. Hopefully hopefully that will be up soon.

[00:09:31]Um, but that's a taste of the writings, although obviously not all pages as gory as that. But, you know, I the book is fast-paced, you know, describe something succinctly and as efficiently as possible and then move on to the next thing, get it explained. Uh that's the whole point of this book. I want people to learn from it, you know, and I'll and also sort of go on my journey with me.

[00:09:53]So, yeah, hope you enjoyed that. Let's have a look at the figures in as we go.

[00:09:56]Gregcoin is 61,989.

[00:09:58]Oh, uh we'll have to have a Where is that now?

[00:10:02]Oh, so Oh. Oh, uh 60,843.

[00:10:06]Uh tanking.

[00:10:08]Uh let's have a look at that. I wonder if it's going to dip below 60 and hit the 50s.

[00:10:14]Oof.

[00:10:16]Uh BCash 222 Fisher buys cash you guys Bitcoin at $12.40 top left.

[00:10:22]Um hash rate 0.02, network nodes 0.17, transactions though 65% of all the forks. Look at that, bigger than Gregcoin, bigger than BCash, and yet it's just $12. Absolutely insane. And our block size 70%. So, remember, um just in business, uh when turnover is vanity, profit is sanity.

[00:10:41]In Bitcoin, hash rate and network nodes are vanity, transactions and block size are sanity. Because you don't need network nodes or hash rate if you've not got the if you've not got the data size or the transactions. You just don't need them. So, literally, the main one here is the block size because and all the other indicators will just simply follow.

[00:11:00]So, that's all you need to know. Literally, it was so if the block size is there, the transactions will follow, then the network nodes, then the hash rate, and then eventually the price. So, price is the last metric to move, uh meaning it is the least of all metrics that matter.

[00:11:16]Um so, it's it's not the one you should be looking at, but that's why the cabal do it topsy-turvy. Oh, yeah, look at the price. The price means everything. Not in Bitcoin, doesn't mean naff all, really.

[00:11:26]Let's have a look at the blocks coming through. Some 9 MB mining dust there.

[00:11:30]114 24 MB block.

[00:11:33]Uh so, there's probably more data in there three of those blocks than there is in the entire coin over on that great coin that's got a a market cap of 1.5 trillion.

[00:11:42]Uh it's 21,000 times cheaper to transact on Bitcoin than great coin. Oh, what's this? Uh so, uh it is currently 0.5% more profitable to mine on SV. Oh, can you imagine it's more profitable to mine on SV and yet the price is only $12.42?

[00:11:59]$12.42 and yet it's more profitable to mine. That is hilarious.

[00:12:04]That's hilarious. We'll have a look at the mining uh on what's on chain.

[00:12:09]Uh let's have a look at the politics in the pie charts because that's where it is.

[00:12:13]Global hash rate 7 days 24 hours great coin hash rate other miners 3.47.

[00:12:18]Uh B crash other miners 28.4.

[00:12:22]Fisher-Price cash who cares, but uh other miners 2.7. I'm going to have to have a look at the mining on what's on chain. Uh but, confirmed transactions just 1.1 million transactions.

[00:12:36]Uh let's have a look at our mining stats. That's what I wanted to have a look at.

[00:12:40]Oh, right. Uh mining Dutch 19.8, SA100 14.8, cool 14.8, QD link 14.1, TAAL 13.4, Gorilla Pool 12.7, Cryptic 3.5, Mole Pool 2.8, TAAL Terran 0 2.1, um others 0.7, and then a Bitcoin SV 0.71.

[00:13:02]Interesting.

[00:13:04]Uh let's have a look see if we can see where those transactions are.

[00:13:11]Uh yeah, mostly in the up turn.

[00:13:13]One a 1 million transactions in the up turn.

[00:13:16]But, it's still more profitable to mine on SV than it is on BTC. That's hilarious. Cross-reference the transaction. Yeah, 1.4 million. Oh, Ethereum's just taking the lead again, but struggling to stay in front at 1.7.

[00:13:27]And there's a what a three Well, I'll have a look at actually. What is it What is Ethereum now?

[00:13:33]So, it's still Oh, Ethereum is almost a $200 billion market cap.

[00:13:38]Almost $200 billion. Look at that. And it And it's only literally just in front of a coin that's uh What's What's What's What's What's that? Let's have a look.

[00:13:48]A coin that's got a market cap of only 248. So, it's literally Ethereum is a thousand X on the coin that's snapping at its heels in second place.

[00:13:57]Absolutely crazy when you realize what's going on.

[00:14:00]Uh so, the overall market then all down $2 trillion market cap in total.

[00:14:05]Uh great coin just going up a little bit, 60,865 recovering a little bit.

[00:14:12]Still a a $1.2 trillion market cap of absolutely nothing.

[00:14:16]Um XRP, $68 billion. Good growth.

[00:14:21]Uh yeah. And Bitcoin is down at number 79. 79, but it's more profitable to mine on.

[00:14:30]Uh strategy charts. Look at this. Wonder if we can just refresh that.

[00:14:36]Purchases.

[00:14:38]Ooh, look at that. Look Look at that.

[00:14:39]Look at that line. Look at where the majority of the purchases like heavily underwater. That is not That is not the sort of safe zone That is not the zone that you want to be in at all. When you like you're in serious trouble if the price doesn't recover, which doesn't look like Tether is defending it. Uh let's just check that quickly.

[00:14:59]Cuz uh without Tether, there is nothing.

[00:15:02]As we heard, it's all sort of like wash trading. Look at that. Look, Tether just simply capitulating.

[00:15:10]Still up on the year, though. But I mean, look at that. Look.

[00:15:14]That was a billion dollars just at once.

[00:15:15]So, that's effectively almost like $2 billion. Uh $2 billion dollars the beginning of the month it's gone down.

[00:15:24]Yeah, it's just it's just not defending the price. Hanging sailor out to dry.

[00:15:29]Oof.

[00:15:30]Uh 5th of June, so yeah, all there was was just a bit of a Bitcoin talk gossip in 2011.

[00:15:36]See if that's still there.

[00:15:39]Yeah, 2011.

[00:15:41]Remember all that Bitcoin talk stuff?

[00:15:43]Amazing. I mean, I knew nothing about Bitcoin back then. Nothing. Nothing.

[00:15:48]Uh right, there we go. We'll leave it there. Hope you enjoyed it as ever. Be aware, take care, stay safe out there, and we'll see you in the next one.

[00:15:53]>> I understand. Do you? Do you? This is it.

[00:15:58]I'm telling you, this is it.

[00:16:00]>> THE KING STILL HAS ONE MORE MOVE.

[00:16:12]>> [bell and music]