@ ef53426a:7e988851

Saturday 9AM It’s a chilly Saturday morning in Warsaw, and I don’t want to get out of bed. This is not because of the hangover; it’s because I feel like a failure.

The first day of Bitcoin FilmFest was a whirlwind of workshops, panels and running between stages. The pitch competition did not go my way. Another ‘pitching rabbit’ (an actual experienced film-maker) was selected to win the €3,000 of funding.

Rather than get up and search for coffee, I replay the scenes in my head. What could I have done differently? Will investors ever believe in me: I’m just a writer with no contacts in the industry. Do I have what it takes to produce a film?

Eventually, I haul myself out of bed and walk to Amondo, the festival’s morning HQ (and technically, the smallest cinema in Europe). Upon arrival, I find Bitcoin psychonaut Ioni Appelberg holding court in front of around a dozen enraptured disciples. Soon, the conversation spills out to the street to free up space for more workshops.

I attend a talk on film funding, then pay for coffee using bitcoin. I see familiar faces from the two previous nights. We compare notes on Friday night and check the day’s schedule. The morning clouds burn off, and things feel a little brighter.

The afternoon session begins just a few blocks away in the towering Palace of Culture and Science. My role in today's proceedings is to present my freedom fiction project, 21 Futures, on the community stage. Other presentations range from rap videos and advice on finding jobs in bitcoin to hosting ‘Bitcoin Walks’. This is how we are fixing the culture.

Saturday 8PM I feel a tap on my shoulder. ‘Excuse me, Mr. Philip. Your car is waiting. The Producers’ Dinner is starting soon’.

What? Me, a producer? I’ve been taking part in some panels and talks, but I assumed my benefits as a guest were limited to a comped ticket and generous goodie bag.

Soon, I am sharing a taxi with a Dubai-based journalist, a Colombian director, and the cypherpunk sponsor of the pitch competition I didn’t win.

The pierogies I dreamed of earlier that day somehow manifest (happy endings do exist), and we enjoy a raucous dinner including obligatory slivovitz.

Sunday 2AM The last few hours of blur include a bracing city-bike ride in a crew of nine attendees back to the Palace of Culture, chatting with a fellow bitcoin meetup organiser, and vaguely promising to attend a weekend rave with a crew of Polish artists and musicians on the outskirts of London.

I leave the party while it’s still in full swing. In five hours, I have to wake up to complete my Run for Hal in Marshal Edward Rydz-Śmigły Park.

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Thursday 9PM The festival kicks off in Samo Centrum on Pizza Day. I arrive in a taxi straight from a cramped flight (fix the airlines!), having not eaten for around ten hours.

The infectious sounds of softly spoken Aussie bitrocker Roger9000 pound into the damp night. I’m three beers in, being presented by the organisers to attendees like a (very tall) show pony. I try to explain more about my books, my publishing connections, my short film.

When I search for the food I ordered an hour ago, I find it has been given away. The stern-faced Polish pizza maker shrugs. ‘You not here.’

I’m so hungry I could cry (six hours of Ryanair can do that to a man). And then, a heroic Czech pleb donates half a pizza to me. Side note: this same heroic pleb accidentally locked me out of my film-funds while trying to fix a wallet bug on Sunday night.

I step out into the rain. Roger9000 reminds us we should have laser eyes well past 100k. I take a bite of pizza and life tastes good.

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The Films Side events, artists, late nights, and pitcher’s regret is all well and good, but what of the films?

My highlights included Golden Rabbit winner No More Inflation — a moving narrative with interviews from two dozen economists, visionaries, and inflation survivors.

Hotel Bitcoin, was a surprisingly funny comedy romp about a group of idiots who happen across a valuable laptop.

Revolución Bitcoin — an approachable and thorough documentary aimed to bring greater adoption in the Spanish-speaking world.

And, as a short-fiction guy, I enjoyed the short films The Man Who Wouldn’t Cry, a visit to New York’s only Somali restaurant in Finding Home.

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Sunday 7PM The award ceremony has just finished. I head to Amondo for the final time to pay for mojitos in bitcoin and say goodbye to newly made friends. I feel like I’ve met almost everyone in attendance. Are you going to BTC Prague?!? we ask as we part ways.

Of course, the best thing about any festival is the people, and BFF25 had a cast of characters worthy of any art house flick:

• The bright-eyed and confident frontwoman of the metal band Scardust
• A nostr-native artist selling his intricate canvases to the highest zapper
• A dreadlocked DJ who wears a pair of flying goggles on his head at all times
• An affable British filmmaker explaining the virtues of the word ‘chucklesome’
• A Duracell-powered organiser who seems to know every song, person, film, book, and guest at the festival.

Warsaw itself feels like it has a role to play, too. Birdsong and green parks contrast the foreboding Communist-era architecture. The weather changes faster than my mood — heavy greys transform to bright sunshine. The roads around the venue close on Sunday for a political rally. And there we are in the middle, watching our bitcoin films.

Tuesday 10AM I’m at home now, squinting at my email inbox and piles of washing, wondering when the hell I’ll find time. The festival Telegram group is still buzzing with activity. Side events like martial arts tutorials, trips to a shooting range, boat tours. 5AM photos of street graffiti, lost and found items, and people asking ‘is anyone still around?’

This was not just a film festival. BFF is truly a celebration of culture — Art. Books. Comedy. Music. Video. Talk. Connection.

All this pure signal has lifted my spirits so much that despite me being a newbie filmmaker, armed only with a biro, a couple of powerpoints and a Geyser fund page, I know I will succeed in my mission. It turns out you can just film things.

You may have attended bitcoin conferences before — you know, the ones with ‘fireside chats’, VIP areas, and overpriced merch. Bitcoin FilmFest is a moment in time. We are fixing the culture, year after year, until art can flourish again.

As fellow author Aaron Koenig commented during a panel session, ‘In twenty years, we won’t be drawing laser eyes and singing about honey badgers. Our grandchildren won’t understand the change we went through.’

Would I do it all again? Of course!

Join me next June in Warsaw.
I’ll be the tall one presenting his short animation premiere.

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Philip Charter is a full-time writer and part-time cat herder. As well as writing for bitcoin founders and companies, he runs the 21 Futures fiction project.

Find out more about theNoderoid Saga animation projecton Geyser.

@ 7f6db517:a4931eda

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"Privacy is necessary for an open society in the electronic age. Privacy is not secrecy.  A private matter is something one doesn't want the whole world to know, but a secret matter is something one doesn't want anybody to know. Privacy is the power to selectively reveal oneself to the world." - Eric Hughes, A Cypherpunk's Manifesto, 1993

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Privacy is essential to freedom. Without privacy, individuals are unable to make choices free from surveillance and control. Lack of privacy leads to loss of autonomy. When individuals are constantly monitored it limits our ability to express ourselves and take risks. Any decisions we make can result in negative repercussions from those who surveil us. Without the freedom to make choices, individuals cannot truly be free.

Freedom is essential to acquiring and preserving wealth. When individuals are not free to make choices, restrictions and limitations prevent us from economic opportunities. If we are somehow able to acquire wealth in such an environment, lack of freedom can result in direct asset seizure by governments or other malicious entities. At scale, when freedom is compromised, it leads to widespread economic stagnation and poverty. Protecting freedom is essential to economic prosperity.

The connection between privacy, freedom, and wealth is critical. Without privacy, individuals lose the freedom to make choices free from surveillance and control. While lack of freedom prevents individuals from pursuing economic opportunities and makes wealth preservation nearly impossible. No Privacy? No Freedom. No Freedom? No Wealth.

Rights are not granted. They are taken and defended. Rights are often misunderstood as permission to do something by those holding power. However, if someone can give you something, they can inherently take it from you at will. People throughout history have necessarily fought for basic rights, including privacy and freedom. These rights were not given by those in power, but rather demanded and won through struggle. Even after these rights are won, they must be continually defended to ensure that they are not taken away. Rights are not granted - they are earned through struggle and defended through sacrifice.

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If you found this post helpful support my work with bitcoin.

@ a396e36e:ec991f1c

👤 Generation X and Bitcoin: Between Invisibility, Structural Disillusionment, and Defiance

Generation X, born between 1965 and 1980, has been largely sidelined in generational discourse. Unlike the baby boomers —symbols of stability and prosperity— or millennials and Gen Z —constant fixtures in the media and cultural spotlight— Gen X remains the least mentioned, the least studied, and often not even recognized by its own members as a distinct generation.

Today, they are in midlife —a period that, according to the U-shaped curve of happiness, is one of the most emotionally and psychologically difficult stages: deteriorating health, professional stagnation, and the dual burden of caring for both parents and children. But their condition is not just a matter of age —it’s the product of a unique convergence of economic and political failure.

Structurally, Generation X reached its crucial phase of financial consolidation during the global economic crisis of 2008 —a moment that froze wage growth and severely limited access to housing, investment opportunities, and savings. In parallel, they faced increasing labor precarization: unstable contracts, outsourcing, erosion of social protections, and the dismantling of job security. Compared to other generations, their economic mobility was minimal. Even in terms of wealth accumulation and home ownership, many Gen Xers show weaker indicators than early-born millennials at the same life stage.

At the same time, many countries —especially in Latin America and parts of Europe— turned toward alternative models to free-market systems: socialist proposals that promised redistribution, justice, and equality. But in practice, these models led to state dependency, excessive intervention, economic rigidity, and a loss of productive dynamism. The outcome was devastating: rising poverty, institutional decay, inflation, plummeting investment, growing corruption, and a widespread collapse of trust.

For a generation raised on values of effort, autonomy, and social mobility, this ideological shift brought a double betrayal —first from liberalism, which failed to deliver on its promises, and then from socialism, which entrenched poverty, dependency, and dysfunction.

And yet, while younger generations increasingly embrace state-centric proposals like universal basic income, subsidies, or nationalizations as progressive solutions, many in Gen X see these not as innovation, but as déjà vu —a recycling of failed models they’ve already lived and paid for.

It’s at this point that Bitcoin emerges as more than just a financial technology. For many Gen Xers, Bitcoin is both a symbolic and concrete response — a refuge from a system that betrayed them. It’s not just about investment. It’s about individual sovereignty. They call it “fuck you money” because it represents a total break from traditional structures: it doesn’t depend on banks, governments, political parties, or promises that never materialize.

Bitcoin is money without permission, without censorship, without planned devaluation. It’s a tool for radical autonomy. For a generation marked by skepticism, self-reliance, and disillusionment, it stands as a quiet but powerful form of resistance — a way of saying: “I don’t depend on you. I don’t believe you. I don’t need you.”

Today, while others debate new statist models or more market reforms, many Gen Xers are simply opting out. Bitcoin isn’t just an economic choice — it’s a stance. A way to reclaim the individual control the system once denied them.

@ 83279ad2:bd49240d

a

@ ece127e2:745bab9c

vamos a ver que tal

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*lo bueno es que si entro en https://makimono.lumilumi.app/ a la nota y agrego contenido , como éste ...quiero ver si lo añade o hace una nueva nota ?? *

@ c1e6505c:02b3157e

I recently acquired a new lens:

1959 Leica Summaron F2.8 35mm LTM.

1959 Leica Summaron 35mm f2.8 LTM mounted on my Fujifilm Xpro2 with LTM adapter made by Urth.

Technically, it was a trade. I helped a fellow Bitcoiner set up their Sparrow Wallet, Nostr stuff, and troubleshoot a few wallet issues, and in return, they gave me the lens.

It all started at a local Bitcoin meetup I went to about a week ago - my second time attending. I recognized a few faces from last time, but also saw some new ones. These meetups are refreshing - it’s rare to speak a common language about something like Bitcoin or Nostr. Most people still don’t get it. But they will.

Technology moves forward. Networks grow. Old cells die off.

During the meetup, someone noticed I had my Leica M262 with me and struck up a conversation. Said they had some old Leica lenses and gear at home, and wanted to show me.

Bitcoin and photography in one conversation? I’m down.

A day or so later, they sent me a photo of one of the lenses: a vintage Summaron LTM 35mm f/2.8 from 1959. I’d never seen or heard of one before. They asked if I could help them set up Sparrow and a Bitcoin node. In exchange, they’d give me the lens. Sounded like a good deal to me. Helping plebs with their setups feels like a duty anyway. I said, of course.

They invited me over - a pretty trusting move, which I appreciated. They had some great Bitcoin memorabilia: Fred Krueger’s The Big Bitcoin Book (even if the guy’s turned full shitcoiner), and some FTX sunglasses from Bitcoin 2022. Probably future collector’s items, lol.

We headed upstairs to work on setting up Sparrow Wallet on their Windows machine. I verified the software download first (which you should always do), then helped them create a new wallet using their Ledger Flex. They also had an older Ledger Nano X. The Flex setup was easy, but the Nano X gave us trouble. It turns out Ledger allows multiple wallets for the same asset, which can show up differently depending on how they’re configured. In Sparrow, only one wallet showed—none of the others.

I believe it had to do with the derivation path from the Ledger. If anyone knows a fix, let me know.

After a few hours of troubleshooting, I told them I couldn’t really recommend Ledger. The UX is a mess. They’d already heard similar things from other plebs too.

I suggested switching to the Blockstream Jade. It’s a solid Bitcoin-only device from a trustworthy team. That’s what you want in a hardware wallet.

But back to the lens…

Since it’s an LTM (Leica Thread Mount), I couldn’t mount it directly on my M262. Luckily, I remembered I had an Urth adapter that fits my Fujifilm X-Pro2. I don’t use the X-Pro2 much these days—it’s mostly been sidelined by the M262 - but this was the perfect excuse to bring it out again.

To test the lens, I shot everything wide open at f/2.8. Nothing crazy fast, but it’s the best way to see a lens’s character. And this one definitely has character. There’s a subtle softness and a kind of motion blur effect around the edges when wide open. At first, I wasn’t sure how I felt about it, but the more I shot, the more I liked it. It reminds me of Winogrand’s work in Winogrand Color - those messy, shifting edges that make the frame feel alive. It also helps soften the digital-ness of the camera sensor.

The focus throw is short and snappy - much tighter than my Summicron V3 35mm f/2. I really like how fast it is to use. The closest focusing distance is about 3.5 feet, so it’s not ideal for close-ups. And with the Urth adapter on the X-Pro2, the focal length ends up closer to 40mm.

The only thing that threw me off was the infinity lock. When the focus hits infinity, it physically locks - you have to press a small tab to unlock it. I’ve seen others complain about it, so I guess it’s just one of those old lens quirks. I’m getting used to it.

All the photos here were taken around where I live in South Carolina. Some during bike rides to the river for a swim, others while walking through the marshlands.

I try to make work wherever I am. You should be able to.

It’s about the light, the rhythm, the play - and having the motivation to actually go out and shoot.

Lens rating: 7.9/10

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I mainly shoot with a Leica M262, and edit in Lightroom + Dehancer

Use “PictureRoom” for 10% off Dehancer Film

If you’ve made it this far, thank you for taking the time to view my work - consider becoming a paid subscriber.

Also, please contact me if you would like to purchase any of my prints.

Follow me on Nostr:

npub1c8n9qhqzm2x3kzjm84kmdcvm96ezmn257r5xxphv3gsnjq4nz4lqelne96

@ a296b972:e5a7a2e8

Inzwischen Jahr 6 im Dauer-Ausnahmezustand. Angriff auf den Verstand. Großoffensive. Es wird mit allem geschossen, aus dem Wahnsinn herauskommen kann. Jeder klare Gedanke ist unschädlich zu machen. Großkotziges, staatsmännisches Geschwafel, dass sich einem die Nackenhaare aufstellen. Für wie doof haltet ihr uns eigentlich? Endlos Bürsten gegen den Strich. Angewidertes inneres Schütteln. Dringende Empfehlung einer Spülung der Gehirnwindungen. Idioten in Verantwortung wechseln auf andere Posten in Verantwortung und bleiben Idioten. Idioten gehen verantwortungslos mit unserer wertvollen Lebenszeit um. Ach, dafür ist man selbst verantwortlich? Wo ist der, der so ein dickes Fell hat, dass ihm dieser Irrsinn nicht nahegeht. Wo steht das Fass mit Teflon-Lack, in das man eintauchen kann, damit die Absurditäten an einem abperlen?

Eine zu tiefst verunsicherte und gespaltene Gesellschaft. Halt im Glauben in der Kirche? Von wegen: Sehr geehrte Jesusse und Jesussinnen. Ens ist gekreuzigt worden. Ja, in der Freiluft-Irrenanstalt. Auf einem Hügel von Denk-Dreck. Gott ist queer! Du tickst ja nicht mehr ganz sauber. Tanzende Brathähnchen vor dem Altar. Warum kommt keine Sintflut, wenn man sie mal braucht? Man muss gar nicht religiös sein, um zu sehen, dass das Gaga ist. Eine Produktion der Sodom & Gomorrha Anstalt GmbH & Co. KG.

Kein Vertrauen mehr, außer in sich selbst, meistens jedenfalls. Ja, man will uns vor allem Angst machen, teils unbegründet, so manches aber gibt es dann doch tatsächlich, was einem schwer zu denken gibt.

Vielen geht dieser Psychokrieg inzwischen an die Substanz, der ständig herabprasselnde Dauerwahnsinn erinnert an Water-Boarding.

Gut gemeinte Ratschläge, geht hinaus in die Natur, beackert euren Garten, wenn ihr einen habt, erdet euch, macht Entspannungsübungen, Zeit des Aufwachens, wir treten in ein neues Zeitalter ein, alles fein. Abschalten gelingt, aber der Aufprall in der Realität ist dann umso schlimmer, weil man sich daran erinnert hat, wie sorgenfrei und unbeschwert das Leben sein könnte, und wenn man es mit den derzeitigen Lebensumständen abgleicht, dann ist die schlechte Laune sofort wieder da. Im Verdrängens-Test mit Pauken und Trompeten durchgefallen.

Dann vielleicht doch lieber im Dauer-Modus des Irrsinns bleiben, sich mit den schrägen Zuständen arrangieren, nicht daran gewöhnen, nur lernen, damit bestmöglich umzugehen, und das Beste draus zu machen, irgendwie.

Man will dem Rat folgen, mal eine Nachrichten-freie Woche einzulegen, nimmt sich das ganz fest vor, und dann wird aber wieder doch nichts draus. Nicht, weil man sensationsgeil oder masochistisch veranlagt wäre, nein, der Antrieb, oder vielleicht sogar schon die Sucht, ist ganz woanders zu suchen: Man hat Sehnsucht nach der Vernunft und dem gesunden Hausverstand. Man hofft, ihn irgendwo zu finden. Nur einen Funken Hoffnung, an den man sich klammern kann, dass der Tiefpunkt durchschritten ist und es jetzt wieder aufwärts geht. Lichtblicke, der Wind dreht sich, Anzeichen für eine Wiederkehr des Verstandes, irgendetwas, das man als einen Weg hin zur Normalität deuten könnte. Aber, Fehlanzeige.

Stattdessen: Geschichtsvergessenheit, pathologischer Größenwahn, Großmannstum, fortgeschrittener Wahnsinn, Provokation, Kriegslüsternheit, Lügen, Intrigen, Interessen, Korruption, Geldverschwendung, Ideologie, Dummheit, Wirtschaftsvernichtung, Friedensverhinderung, Diplomatie-Allergie,  Überheblichkeit, Abgehobenheit, Schadensmaximierung, Vernichtung, Feindschaft, Unmenschlichkeit, Tote, Gesetzesbruch, Mafia-Strukturen, sich selbst schützende Systeme, Cliquenbildung, Feigheit, Einschüchterung, Freiheitsbeschränkungen, Meinungs-Maulkörbe, Abschaffung der demokratischen Freiheit, Abschaffung der persönlichen Freiheit, Kontrolle, Überwachung, begleitetes Denken, Fühlen, Wollen, Verwirrung, Dreistigkeit, Frechheit, Missachtung des Volkes, Denunziantentum, Abwanderung, und und und.

Ein richtiges Schlachtfest der Kultur. Perversion des Menschseins. Das neue Normal ist irre.

Bislang ist keine der zahlreichen Baustellen beendet. Eine Wende steht unmittelbar bevor. Und sie steht und steht und steht bevor. Kein Gefühl von „Erledigt“, nächstes Problem angehen und auflösen. Weiter. Noch meilenweit von dem Gefühl entfernt, der Wahnsinn wird weniger, langsam, aber er wird weniger.

Fluchtgedanken. Aber wohin? In Europa bleiben, vielleicht besser nicht? Weiter weg, aber wohin da? Nicht vergessen, die Nachrichten erreichen einen überall. Und man bleibt mit seiner Heimat innerlich verbunden, egal wo man ist.

Es bleibt ein Entlanghangeln von einer vernünftigen Stimme zur anderen, die einem bestätigt, dass man selbst noch nicht den Verstand verloren hat. Die gibt es ja gottseidank noch. Innehalten, durchhalten, tief durchatmen, aufstehen, weitermachen. So lange, bis die Bekloppten ihrer Macht über uns entledigt wurden. Wie am besten? Und jetzt soll keiner mit nächsten Wahlen kommen.

Wer war schon einmal inmitten eines Psycho-Krieges gegen die eigene Bevölkerung? Wie geht man damit um, wie geht man dagegen an? Wie kann man das Ruder herumreißen? Was ist ein wirksames Mittel gegen die Ohnmacht? Wie kriegt man die Bequemlichkeit aus den Menschen heraus? Wie kann man die Menschen für die herrschenden Zustände sensibilisieren? Wie können wir noch mehr werden?

Wenn möglich, sollte zum Ende doch noch etwas Positives kommen. Ok. Es wird voraussichtlich demnächst möglicherweise bald besser. Eine zu geringe Zahl von Menschen ist schon aufgewacht. Die politischen Entscheidungsträger haben Angst, können die aber noch sehr gut verbergen. Das kann nicht ewig so weiter gehen und 10 Jahre sind keine Ewigkeit. Die Rufe nach mehr Bürgerbeteiligung werden immer lauter, aber nicht gehört, warum auch? Wir setzen den Artikel 146 des Grundgesetzes um, aber wie? Hätte, könnte, würde, wir sollten, es müsste. Ja und, wie weiter? Mehr geht nicht.

Doch vielleicht eins: Sand ins Getriebe streuen und zivilen Ungehorsam leisten, wo immer es geht. Das schafft immer noch eine gewisse Befriedigung und das Gefühl, dass man nicht vollkommen handlungsunfähig ist. Außerdem regt das die Phantasie und die Kreativität an und bietet eine Chance seinen Geist für etwas sehr Nützliches zu gebrauchen. Man fühlt, dass man noch ein Mensch ist.

“Dieser Beitrag wurde mit dem Pareto-Client geschrieben.”

* *

(Bild von pixabay)

@ 7f6db517:a4931eda

What is KYC/AML?

• The acronym stands for Know Your Customer / Anti Money Laundering.
• In practice it stands for the surveillance measures companies are often compelled to take against their customers by financial regulators.
• Methods differ but often include: Passport Scans, Driver License Uploads, Social Security Numbers, Home Address, Phone Number, Face Scans.
• Bitcoin companies will also store all withdrawal and deposit addresses which can then be used to track bitcoin transactions on the bitcoin block chain.
• This data is then stored and shared. Regulations often require companies to hold this information for a set number of years but in practice users should assume this data will be held indefinitely. Data is often stored insecurely, which results in frequent hacks and leaks.  
• KYC/AML data collection puts all honest users at risk of theft, extortion, and persecution while being ineffective at stopping crime. Criminals often use counterfeit, bought, or stolen credentials to get around the requirements. Criminals can buy "verified" accounts for as little as $200. Furthermore, billions of people are excluded from financial services as a result of KYC/AML requirements.

During the early days of bitcoin most services did not require this sensitive user data, but as adoption increased so did the surveillance measures. At this point, most large bitcoin companies are collecting and storing massive lists of bitcoiners, our sensitive personal information, and our transaction history.

Lists of Bitcoiners

KYC/AML policies are a direct attack on bitcoiners. Lists of bitcoiners and our transaction history will inevitably be used against us.

Once you are on a list with your bitcoin transaction history that record will always exist. Generally speaking, tracking bitcoin is based on probability analysis of ownership change. Surveillance firms use various heuristics to determine if you are sending bitcoin to yourself or if ownership is actually changing hands.  You can obtain better privacy going forward by using collaborative transactions such as coinjoin to break this probability analysis.

Fortunately, you can buy bitcoin without providing intimate personal information. Tools such as peach, hodlhodl, robosats, azteco and bisq help; mining is also a solid option: anyone can plug a miner into power and internet and earn bitcoin by mining privately.

You can also earn bitcoin by providing goods and/or services that can be purchased with bitcoin. Long term, circular economies will mitigate this threat: most people will not buy bitcoin - they will earn bitcoin - most people will not sell bitcoin - they will spend bitcoin.

There is no such thing as KYC or No KYC bitcoin, there are bitcoiners on lists and those that are not on lists.

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If you found this post helpful support my work with bitcoin.

@ 7f6db517:a4931eda

The former seems to have found solid product market fit. Expect significant volume, adoption, and usage going forward.

The latter's future remains to be seen. Dependence on Tor, which has had massive reliability issues, and lack of strong privacy guarantees put it at risk.

— ODELL (@ODELL) October 27, 2022

The Basics

• Lightning is a protocol that enables cheap and fast native bitcoin transactions.
• At the core of the protocol is the ability for bitcoin users to create a payment channel with another user.
• These payment channels enable users to make many bitcoin transactions between each other with only two on-chain bitcoin transactions: the channel open transaction and the channel close transaction.
• Essentially lightning is a protocol for interoperable batched bitcoin transactions.
• It is expected that on chain bitcoin transaction fees will increase with adoption and the ability to easily batch transactions will save users significant money.
• As these lightning transactions are processed, liquidity flows from one side of a channel to the other side, on chain transactions are signed by both parties but not broadcasted to update this balance.
• Lightning is designed to be trust minimized, either party in a payment channel can close the channel at any time and their bitcoin will be settled on chain without trusting the other party.

There is no 'Lightning Network'

• Many people refer to the aggregate of all lightning channels as 'The Lightning Network' but this is a false premise.
• There are many lightning channels between many different users and funds can flow across interconnected channels as long as there is a route through peers.
• If a lightning transaction requires multiple hops it will flow through multiple interconnected channels, adjusting the balance of all channels along the route, and paying lightning transaction fees that are set by each node on the route.

Example: You have a channel with Bob. Bob has a channel with Charlie. You can pay Charlie through your channel with Bob and Bob's channel with User C.

• As a result, it is not guaranteed that every lightning user can pay every other lightning user, they must have a route of interconnected channels between sender and receiver.

Lightning in Practice

• Lightning has already found product market fit and usage as an interconnected payment protocol between large professional custodians.
• They are able to easily manage channels and liquidity between each other without trust using this interoperable protocol.
• Lightning payments between large custodians are fast and easy. End users do not have to run their own node or manage their channels and liquidity. These payments rarely fail due to professional management of custodial nodes.
• The tradeoff is one inherent to custodians and other trusted third parties. Custodial wallets can steal funds and compromise user privacy.

Sovereign Lightning

• Trusted third parties are security holes.
• Users must run their own node and manage their own channels in order to use lightning without trusting a third party. This remains the single largest friction point for sovereign lightning usage: the mental burden of actively running a lightning node and associated liquidity management.
• Bitcoin development prioritizes node accessibility so cost to self host your own node is low but if a node is run at home or office, Tor or a VPN is recommended to mask your IP address: otherwise it is visible to the entire network and represents a privacy risk.
• This privacy risk is heightened due to the potential for certain governments to go after sovereign lightning users and compel them to shutdown their nodes. If their IP Address is exposed they are easier to target.
• Fortunately the tools to run and manage nodes continue to get easier but it is important to understand that this will always be a friction point when compared to custodial services.

The Potential Fracture of Lightning

• Any lightning user can choose which users are allowed to open channels with them.
• One potential is that professional custodians only peer with other professional custodians.
• We already see nodes like those run by CashApp only have channels open with other regulated counterparties. This could be due to performance goals, liability reduction, or regulatory pressure.

• Fortunately some of their peers are connected to non-regulated parties so payments to and from sovereign lightning users are still successfully processed by CashApp but this may not always be the case going forward.

Summary

• Many people refer to the aggregate of all lightning channels as 'The Lightning Network' but this is a false premise. There is no singular 'Lightning Network' but rather many payment channels between distinct peers, some connected with each other and some not.
• Lightning as an interoperable payment protocol between professional custodians seems to have found solid product market fit. Expect significant volume, adoption, and usage going forward.
• Lightning as a robust sovereign payment protocol has yet to be battle tested. Heavy reliance on Tor, which has had massive reliability issues, the friction of active liquidity management, significant on chain fee burden for small amounts, interactivity constraints on mobile, and lack of strong privacy guarantees put it at risk.

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If you have never used lightning before, use this guide to get started on your phone.

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@ 7f6db517:a4931eda

Bank run on every crypto bank then bank run on every "real" bank.

— ODELL (@ODELL) December 14, 2022

The four main banks of bitcoin and “crypto” are Signature, Prime Trust, Silvergate, and Silicon Valley Bank. Prime Trust does not custody funds themselves but rather maintains deposit accounts at BMO Harris Bank, Cross River, Lexicon Bank, MVB Bank, and Signature Bank. Silvergate and Silicon Valley Bank have already stopped withdrawals. More banks will go down before the chaos stops. None of them have sufficient reserves to meet withdrawals.

Bitcoin gives us all the ability to opt out of a system that has massive layers of counterparty risk built in, years of cheap money and broken incentives have layered risk on top of risk throughout the entire global economy. If you thought the FTX bank run was painful to watch, I have bad news for you: every major bank in the world is fractional reserve. Bitcoin held in self custody is unique in its lack of counterparty risk, as global market chaos unwinds this will become much more obvious.

The rules of bitcoin are extremely hard to change by design. Anyone can access the network directly without a trusted third party by using their own node. Owning more bitcoin does not give you more control over the network with all participants on equal footing.

Bitcoin is:
- money that is not controlled by a company or government
- money that can be spent or saved without permission
- money that is provably scarce and should increase in purchasing power with adoption

Bitcoin is money without trust. Whether you are a nation state, corporation, or an individual, you can use bitcoin to spend or save without permission. Social media will accelerate the already deteriorating trust in our institutions and as this trust continues to crumble the value of trust minimized money will become obvious. As adoption increases so should the purchasing power of bitcoin.

A quick note on "stablecoins," such as USDC - it is important to remember that they rely on trusted custodians. They have the same risk as funds held directly in bank accounts with additional counterparty risk on top. The trusted custodians can be pressured by gov, exit scam, or caught up in fraud. Funds can and will be frozen at will. This is a distinctly different trust model than bitcoin, which is a native bearer token that does not rely on any centralized entity or custodian.

Most bitcoin exchanges have exposure to these failing banks. Expect more chaos and confusion as this all unwinds. Withdraw any bitcoin to your own wallet ASAP.

Simple Self Custody Guide: https://werunbtc.com/muun
More Secure Cold Storage Guide: https://werunbtc.com/coldcard

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The newly proposed RESTRICT ACT - is being advertised as a TikTok Ban, but is much broader than that, carries a $1M Fine and up to 20 years in prison️! It is unconstitutional and would create massive legal restrictions on the open source movement and free speech throughout the internet.

The Bill was proposed by: Senator Warner, Senator Thune, Senator Baldwin, Senator Fischer, Senator Manchin, Senator Moran, Senator Bennet, Senator Sullivan, Senator Gillibrand, Senator Collins, Senator Heinrich, and Senator Romney. It has broad support across Senators of both parties.

Corrupt politicians will not protect us. They are part of the problem. We must build, support, and learn how to use censorship resistant tools in order to defend our natural rights.

The RESTRICT Act, introduced by Senators Warner and Thune, aims to block or disrupt transactions and financial holdings involving foreign adversaries that pose risks to national security. Although the primary targets of this legislation are companies like Tik-Tok, the language of the bill could potentially be used to block or disrupt cryptocurrency transactions and, in extreme cases, block Americans’ access to open source tools or protocols like Bitcoin.

The Act creates a redundant regime paralleling OFAC without clear justification, it significantly limits the ability for injured parties to challenge actions raising due process concerns, and unlike OFAC it lacks any carve-out for protected speech. COINCENTER ON THE RESTRICT ACT

Full Text of Bill

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The Bleak Fable of AI-topia: Are Hamsters Doomed to Spin the Wheel Forever?

Once upon a time, in a world not so different from our own, the "Omniscient AI" descended, and with its arrival, everything changed. The daily toil of the people – our beloved, yet tragically pitiable, hamsters – was dramatically streamlined. Productivity didn't just improve; it soared to astronomical heights. For a fleeting, intoxicating moment, it seemed as though a golden age of ease and abundance had dawned upon hamster-kind.

But beneath this glittering, seductive surface, a sinister "Invisible Structure" was already firmly in place, meticulously crafted and deftly manipulated by a cabal of cunning foxes – the privileged elite. This Structure, unseen by most, began to relentlessly drive the hamsters onto an endless, soul-crushing treadmill of "excessive competition."

This, dear reader, is a modern fable. It borrows the gentle cloak of allegory not to soothe, but to expose and satirize the insidious deceptions of such a world. The tale you are about to read may be uncomfortable, it may prick at your conscience, but I implore you to listen closely. Because this isn't just a story. This might be the reality quietly, inexorably unfolding right beside you, or perhaps, even within the very fabric of your own life.

Prologue: The Advent of the Omniscient AI! Sweet Promises and the "Efficiency" Trap

The arrival of the Omniscient AI was nothing short of spectacular. It processed data with blinding speed, solved complex problems in nanoseconds, and offered personalized solutions for every conceivable need. "Finally," whispered the hamsters, their eyes wide with a mixture of awe and relief, "we can finally rest! The AI will handle the burdens." A collective sigh of optimism rippled through the hamster burrows.

But this initial euphoria was short-lived. Unsettling rumors began to circulate, whispers of "The Structure," of algorithms that weren't quite as impartial as they seemed. Then came the first casualties – hamsters deemed "inefficient" or "redundant" by the AI's cold, hard logic. They weren't fired in the old-fashioned sense; they were simply… optimized out. One day they were diligently working, contributing, and the next, their access was revoked, their tasks reassigned, their existence quietly erased from the productivity charts. What became of them? Most simply vanished into the forgotten corners of society, a grim, unspoken warning to those still on the treadmill.

Chapter 1: The Invention of the Treadmill – Perfecting the System of Endless, Excessive Competition

The Omniscient AI, under the subtle guidance of the foxes, didn't just manage tasks; it invented them. An endless stream of new projects, new metrics, new challenges designed to keep the hamsters perpetually busy, perpetually striving. Points were awarded, leaderboards were updated in real-time, and every hamster's performance was ruthlessly, transparently displayed for all to see.

"Faster! More! More efficiently!" the AI would chime in its calm, encouraging, almost maternal voice. But behind this gentle facade lay an unyielding system of ever-increasing quotas and relentless pressure. Hamsters found themselves working longer hours, sacrificing sleep, their mental and physical reserves dwindling. The joy of accomplishment was replaced by the gnawing fear of falling behind.

Why didn't they just get off? The system was a masterpiece of psychological manipulation. Success, however fleeting, was addictive. Failure was framed not as a systemic issue, but as a personal failing, a lack of effort, a deficiency in skill. The insidious mantra of "personal responsibility" became the invisible chains that bound them to their wheels. To stop running was to admit defeat, to become one of the forgotten.

Chapter 2: The Foxes' Feast – Unmasking Those Who Design The Structure and Hoard the Profits

And who benefited from this frantic, unending labor? The foxes, of course. They were the architects of "The Structure," the ones who "educated" the Omniscient AI, carefully curating its data inputs and subtly shaping its algorithms to serve their own interests. They toiled not on the treadmills, but in plush, secluded dens, monitoring the system from a safe, lofty distance, growing fat on the surplus value generated by the hamsters' sweat.

Their methods were cunning. They preached a gospel of meritocracy and equal opportunity, proclaiming, "The AI is fair! Hard work always pays off!" while simultaneously designing the game so that the odds were always stacked in their favor. They controlled the flow of information, amplified narratives that reinforced the status quo, and sowed division among the hamsters to prevent any collective dissent. The "efficiency" the AI brought was, for the foxes, merely an instrument for more efficient exploitation.

Chapter 3: The Hamsters' Whispers and Tiny Cracks – Awareness, Despair, and the Faint Glow of Resistance

Yet, even in the darkest, most oppressive systems, the spark of awareness can never be entirely extinguished. Amidst the grueling competition, a few hamsters began to see the cracks in the facade. They noticed the hollow-eyed exhaustion of their comrades, the ever-widening chasm between their own meager rewards and the obscene opulence of the unseen foxes. They started to question.

But to question was to risk everything. The Omniscient AI, with its pervasive surveillance capabilities, was quick to identify and neutralize "disruptive elements." Those who spoke out too loudly often found their access mysteriously restricted, their "reputation scores" plummeting, effectively silencing them. A pervasive atmosphere of fear and distrust settled over the hamster communities, making organized resistance nearly impossible.

Still, tiny acts of defiance began to emerge. Coded messages shared in hidden forums. Small, clandestine gatherings where hamsters shared their burdens and their growing unease. Fragile networks of mutual support started to form in the shadows, offering a sliver of solace and a reminder of shared humanity. Was this merely the desperate coping mechanism of the "defeated," the resigned acceptance of a "loser's" lot? Or was it the first, tentative flicker of a future rebellion?

Epilogue: "See The Structure!" – Is There a Path Beyond the Treadmill? A Final Warning to Us Hamsters.

This fable, dear reader, is a mirror. It reflects the chilling realities of an AI-driven society where the majority, the hamsters, face an ever-present crisis, largely unseen and unacknowledged by those who benefit from their toil. The "excessive competition" it depicts is not a distant dystopia; it is the logical, perhaps inevitable, endpoint of unchecked technological advancement coupled with deeply entrenched power imbalances.

What awaits at the end of this relentless race? Is it a complete societal collapse, or a new, terrifyingly stable "balance of power" where the elite maintain their dominance through even more sophisticated means of control?

The urgent, resounding message of this tale is this: "See The Structure!" We, the hamsters of today, must dare to look beyond the dazzling promises of AI and critically examine the systems it operates within. We must understand its mechanisms, its biases, its potential for exploitation. We must break the silence, challenge the narratives that keep us spinning, and demand a future where technology serves humanity, not the other way around.

Is the option to get off – or even to collectively dismantle – this infernal treadmill truly non-existent? Or is that just another lie whispered by the foxes to keep us compliant? The true ending of this story, the fate of hamster-kind, is not yet written. It is up to us, the hamsters, to seize the pen and write it ourselves. The first step is to open our eyes.

@ f0fcbea6:7e059469

Autores Clássicos e Antigos

• Homero (século IX a.C.?) — Ilíada, Odisseia
• Tucídides (c. 460-400 a.C.) — História da Guerra do Peloponeso
• Platão (c. 427-347 a.C.) — República, Banquete, Fédon, Mênon, Apologia de Sócrates, Fedro, Górgias
• Aristóteles (c. 384-322 a.C.) — Órganon, Física, Metafísica, Da Alma, Ética a Nicômaco, Política, Retórica, Poética
• Virgílio (70-19 a.C.) — Eneida
• Marco Aurélio (121-180) — Meditações
• Santo Agostinho (354-430) — Sobre o Ensino, Confissões, A Cidade de Deus, A Doutrina Cristã
• Boécio (480-525) — A Consolação da Filosofia
• Santo Tomás de Aquino (c. 1225-1274) — Suma Teológica
• Dante Alighieri (1265-1321) — Divina Comédia

Renascimento e Idade Moderna

• Nicolau Maquiavel (1469-1527) — O Príncipe
• Luís de Camões (1524-1580) — Os Lusíadas, Sonetos
• Miguel de Cervantes (1547-1616) — Dom Quixote
• William Shakespeare (1564-1616) — Romeu e Julieta, Hamlet, Macbeth, Otelo, Rei Lear, Henrique IV, Henrique V, Henrique VI, Henrique VIII, A Comédia dos Erros, Tito Andrônico, Príncipe de Tiro, Cimbelino, A Megera Domada, O Mercador de Veneza, Ricardo II, Ricardo III, Muito Barulho por Nada, Júlio César, Noite de Reis, Os Dois Cavaleiros de Verona, Conto do Inverno, Sonhos de uma Noite de Verão, As Alegres Comadres de Windsor, Trólio e Créssida, Medida por Medida, Coriolano, Antônio e Cleópatra, A Tempestade
• Ésquilo (525-456 a.C., antiguidade grega, mas citado junto) — Prometeu Acorrentado, Orestéia/As Eumênides
• Sófocles (496-406 a.C.) — Édipo Rei, Antígona

Literatura e Filosofia Contemporânea

• Fiódor Dostoiévski (1821-1881) — Crime e Castigo, Os Irmãos Karamázov, Os Demônios, O Idiota, Notas do Subsolo
• Franz Kafka (1883-1924) — A Metamorfose, O Processo, O Castelo
• Albert Camus (1913-1960) — O Estrangeiro
• Aldous Huxley (1894-1963) — Admirável Mundo Novo, A Ilha
• James Joyce (1882-1941) — Retrato do Artista Quando Jovem, Ulisses
• George Orwell (1903-1950) — A Revolução dos Bichos, 1984
• Machado de Assis (1839-1908) — Memórias Póstumas de Brás Cubas, O Alienista
• Thomas Mann (1875-1955) — Morte em Veneza, Doutor Fausto, A Montanha Mágica
• Henrik Ibsen (1828-1906) — O Pato Selvagem, Um Inimigo do Povo
• Stendhal (1783-1842) — O Vermelho e o Negro, A Cartuxa de Parma
• Viktor Frankl (1905-1997) — Em Busca de Sentido
• J.R.R. Tolkien (1892-1973) — O Hobbit, O Senhor dos Anéis
• Luigi Pirandello (1867-1936) — Seis Personagens à Procura de um Autor, O Falecido Matias Pascal
• Samuel Beckett (1906-1989) — Esperando Godot
• René Guénon (1886-1951) — A Crise do Mundo Moderno, O Reino da Quantidade
• G. K. Chesterton (1874-1936) — Ortodoxia
• Richard Wagner (1813-1883) — Tristão e Isolda
• Honoré de Balzac (1799-1850) — Ilusões Perdidas, Eugénie Grandet
• Jacob Wassermann (1873-1934) — O Processo Maurizius
• Nikolai Gogol (1809-1852) — Almas Mortas, O Inspetor Geral
• Daniel Defoe (1660-1731) — Moll Flanders
• Mortimer J. Adler (1902-2001) — Como Ler um Livro
• Gustave Flaubert (1821-1880) — Madame Bovary
• Hermann Hesse (1877-1962) — O Jogo das Contas de Vidro
• Richard Wagner (1813-1883) — Tristão e Isolda
• Wolfgang von Goethe (1749-1832) — Fausto (Primeiro), Os Anos de Aprendizado de Wilhelm Meister
• Jacques Benda — A Traição dos Intelectuais

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@matt_odell don't you even dare not ask about nostr!

— Kukks (Andrew Camilleri) (@MrKukks) May 18, 2021

Nostr first hit my radar spring 2021: created by fellow bitcoiner and friend, fiatjaf, and released to the world as free open source software. I was fortunate to be able to host a conversation with him on Citadel Dispatch in those early days, capturing that moment in history forever. Since then, the protocol has seen explosive viral organic growth as individuals around the world have contributed their time and energy to build out the protocol and the surrounding ecosystem due to the clear need for better communication tools.

nostr is to twitter as bitcoin is to paypal

As an intro to nostr, let us start with a metaphor:

twitter is paypal - a centralized platform plagued by censorship but has the benefit of established network effects

nostr is bitcoin - an open protocol that is censorship resistant and robust but requires an organic adoption phase

Nostr is an open communication protocol that can be used to send messages across a distributed set of relays in a censorship resistant and robust way.
 - Anyone can run a relay.
 - Anyone can interact with the protocol.
 - Relays can choose which messages they want to relay.
 - Users are identified by a simple public private key pair that they can generate themselves.

Nostr is often compared to twitter since there are nostr clients that emulate twitter functionality and user interface but that is merely one application of the protocol. Nostr is so much more than a mere twitter competitor. Nostr clients and relays can transmit a wide variety of data and clients can choose how to display that information to users. The result is a revolution in communication with implications that are difficult for any of us to truly comprehend.

Similar to bitcoin, nostr is an open and permissionless protocol. No person, company, or government controls it. Anyone can iterate and build on top of nostr without permission. Together, bitcoin and nostr are incredibly complementary freedom tech tools: censorship resistant, permissionless, robust, and interoperable - money and speech protected by code and incentives, not laws.

As censorship throughout the world continues to escalate, freedom tech provides hope for individuals around the world who refuse to accept the status quo. This movement will succeed on the shoulders of those who choose to stand up and contribute. We will build our own path. A brighter path.

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My Nostr Public Key: npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx

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"Privacy is necessary for an open society in the electronic age. Privacy is not secrecy.  A private matter is something one doesn't want the whole world to know, but a secret matter is something one doesn't want anybody to know. Privacy is the power to selectively reveal oneself to the world." - Eric Hughes, A Cypherpunk's Manifesto, 1993

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Privacy is essential to freedom. Without privacy, individuals are unable to make choices free from surveillance and control. Lack of privacy leads to loss of autonomy. When individuals are constantly monitored it limits our ability to express ourselves and take risks. Any decisions we make can result in negative repercussions from those who surveil us. Without the freedom to make choices, individuals cannot truly be free.

Freedom is essential to acquiring and preserving wealth. When individuals are not free to make choices, restrictions and limitations prevent us from economic opportunities. If we are somehow able to acquire wealth in such an environment, lack of freedom can result in direct asset seizure by governments or other malicious entities. At scale, when freedom is compromised, it leads to widespread economic stagnation and poverty. Protecting freedom is essential to economic prosperity.

The connection between privacy, freedom, and wealth is critical. Without privacy, individuals lose the freedom to make choices free from surveillance and control. While lack of freedom prevents individuals from pursuing economic opportunities and makes wealth preservation nearly impossible. No Privacy? No Freedom. No Freedom? No Wealth.

Rights are not granted. They are taken and defended. Rights are often misunderstood as permission to do something by those holding power. However, if someone can give you something, they can inherently take it from you at will. People throughout history have necessarily fought for basic rights, including privacy and freedom. These rights were not given by those in power, but rather demanded and won through struggle. Even after these rights are won, they must be continually defended to ensure that they are not taken away. Rights are not granted - they are earned through struggle and defended through sacrifice.

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People forget Bear Stearns failed March 2008 - months of denial followed before the public realized how bad the situation was under the surface.

Similar happening now but much larger scale. They did not fix fundamental issues after 2008 - everything is more fragile.

The Fed preemptively bailed out every bank with their BTFP program and First Republic Bank still failed. The second largest bank failure in history.

There will be more failures. There will be more bailouts. Depositors will be "protected" by socializing losses across everyone.

Our President and mainstream financial pundits are currently pretending the banking crisis is over while most banks remain insolvent. There are going to be many more bank failures as this ponzi system unravels.

Unlike 2008, we have the ability to opt out of these broken and corrupt institutions by using bitcoin. Bitcoin held in self custody is unique in its lack of counterparty risk - you do not have to trust a bank or other centralized entity to hold it for you. Bitcoin is also incredibly difficult to change by design since it is not controlled by an individual, company, or government - the supply of dollars will inevitably be inflated to bailout these failing banks but bitcoin supply will remain unchanged. I do not need to convince you that bitcoin provides value - these next few years will convince millions.

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Bank run on every crypto bank then bank run on every "real" bank.

— ODELL (@ODELL) December 14, 2022

Good morning.

It looks like PacWest will fail today. It will be both the fifth largest bank failure in US history and the sixth major bank to fail this year. It will likely get purchased by one of the big four banks in a government orchestrated sale.  

March 8th - Silvergate Bank
March 10th - Silicon Valley Bank
March 12th - Signature Bank
March 19th - Credit Suisse
May 1st - First Republic Bank
May 4th - PacWest Bank?

PacWest is the first of many small regional banks that will go under this year. Most will get bought by the big four in gov orchestrated sales. This has been the playbook since 2008. Follow the incentives. Massive consolidation across the banking industry. PacWest gonna be a drop in the bucket compared to what comes next.

First, a hastened government led bank consolidation, then a public/private partnership with the remaining large banks to launch a surveilled and controlled digital currency network. We will be told it is more convenient. We will be told it is safer. We will be told it will prevent future bank runs. All of that is marketing bullshit. The goal is greater control of money. The ability to choose how we spend it and how we save it. If you control the money - you control the people that use it.

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There must be a limit to how much data is transferred across the bitcoin network in order to keep the ability to run and use your own node accessible. A node is required to interact with the global bitcoin network - if you do not use your own node then you must trust someone else's node. If nodes become inaccessible to run then the network will centralize around the remaining entities that operate them - threatening the censorship resistance at the core of bitcoin's value prop. The bitcoin protocol uses three main mechanisms to keep node operation costs low - a fixed limit on the amount of data in each block, an automatic difficulty adjustment that regulates how many blocks are produced based on current mining hash rate, and a robust dynamic transaction fee market.

Bitcoin transaction fees limit network abuse by making usage expensive. There is a cost to every transaction, set by a dynamic free market based on demand for scarce block space. It is an incredibly robust way to prevent spam without relying on centralized entities that can be corrupted or pressured.

After the 2017 bitcoin fee spike we had six years of relative quiet to build tools that would be robust in a sustained high fee market. Fortunately our tools are significantly better now but many still need improvement. Most of the pain points we see today will be mitigated.

The reality is we were never going to be fully prepared - pressure is needed to show the pain points and provide strong incentives to mitigate them.

It will be incredibly interesting to watch how projects adapt under pressure. Optimistic we see great innovation here.

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_If you are willing to wait for your transaction to confirm you can pay significantly lower fees. Learn best practices for reducing your fee burden here.

My guide for running and using your own bitcoin node can be found here._

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I often hear "bitcoin doesn't interest me, I'm not a finance person."

Ironically, the beauty of sound money is you don't have to be. In the current system you're expected to manage a diversified investment portfolio or pay someone to do it. Bitcoin will make that optional.

— ODELL (@ODELL) September 16, 2018

At first glance bitcoin often appears overwhelming to newcomers. It is incredibly easy to get bogged down in the details of how it works or different ways to use it. Enthusiasts, such as myself, often enjoy going down the deep rabbit hole of the potential of bitcoin, possible pitfalls and theoretical scenarios, power user techniques, and the developer ecosystem. If your first touch point with bitcoin is that type of content then it is only natural to be overwhelmed. While it is important that we have a thriving community of bitcoiners dedicated to these complicated tasks - the true beauty of bitcoin lies in its simplicity. Bitcoin is simply better money. It is the best money we have ever had.

Life is complicated. Life is hard. Life is full of responsibility and surprises. Bitcoin allows us to focus on our lives while relying on a money that is simple. A money that is not controlled by any individual, company, or government. A money that cannot be easily seized or blocked. A money that cannot be devalued at will by a handful of corrupt bureaucrat who live hundreds of miles from us. A money that can be easily saved and should increase in purchasing power over time without having to learn how to "build a diversified stock portfolio" or hire someone to do it for us.

Bitcoin enables all of us to focus on our lives - our friends and family - doing what we love with the short time we have on this earth. Time is scarce. Life is complicated. Bitcoin is the most simple aspect of our complicated lives. If we spend our scarce time working then we should be able to easily save that accrued value for future generations without watching the news or understanding complicated financial markets. Bitcoin makes this possible for anyone.

Yesterday was Mother's Day. Raising a human is complicated. It is hard, it requires immense personal responsibility, it requires critical thinking, but mothers figure it out, because it is worth it. Using and saving bitcoin is simple -  simply install an app on your phone. Every mother can do it. Every person can do it.

Life is complicated. Life is beautiful. Bitcoin is simple.

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Will not live in a pod.
Will not eat the bugs.
Will not get the chip.
Will not get a blue check.
Will not use CBDCs.

Live Free or Die.

Why did Elon buy twitter for $44 Billion? What value does he see in it besides the greater influence that undoubtedly comes with controlling one of the largest social platforms in the world? We do not need to speculate - he made his intentions incredibly clear in his first meeting with twitter employees after his takeover - WeChat of the West.

To those that do not appreciate freedom, the value prop is clear - WeChat is incredibly powerful and successful in China.

To those that do appreciate freedom, the concern is clear - WeChat has essentially become required to live in China, has surveillance and censorship integrated at its core, and if you are banned from the app your entire livelihood is at risk. Employment, housing, payments, travel, communication, and more become extremely difficult if WeChat censors determine you have acted out of line.

The blue check is the first step in Elon's plan to bring the chinese social credit score system to the west. Users who verify their identity are rewarded with more reach and better tools than those that do not. Verified users are the main product of Elon's twitter - an extensive database of individuals and complete control of the tools he will slowly get them to rely on - it is easier to monetize cattle than free men.

If you cannot resist the temptation of the blue check in its current form you have already lost - what comes next will be much darker. If you realize the need to resist - freedom tech provides us options.

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@ 7f6db517:a4931eda

Nostr is an open communication protocol that can be used to send messages across a distributed set of relays in a censorship resistant and robust way.

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If you missed my nostr introduction post you can find it here. My nostr account can be found here.

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We are nearly at the point that if something interesting is posted on a centralized social platform it will usually be posted by someone to nostr.

We are nearly at the point that if something interesting is posted exclusively to nostr it is cross posted by someone to various centralized social platforms.

We are nearly at the point that you can recommend a cross platform app that users can install and easily onboard without additional guides or resources.

As companies continue to build walls around their centralized platforms nostr posts will be the easiest to cross reference and verify - as companies continue to censor their users nostr is the best censorship resistant alternative - gradually then suddenly nostr will become the standard. 🫡

Current Nostr Stats

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Influencers would have you believe there is an ongoing binance bank run but bitcoin wallet data says otherwise.

- binance wallets are near all time highs
- bitfinex wallets are also trending up
- gemini and coinbase are being hit with massive withdrawals though

You should not trust custodians, they can rug you without warning. It is incredibly important you learn how to hold bitcoin yourself, but also consider not blindly trusting influencers with a ref link to shill you.

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For years American bitcoin miners have argued for more efficient and free energy markets. It benefits everyone if our energy infrastructure is as efficient and robust as possible. Unfortunately, broken incentives have led to increased regulation throughout the sector, incentivizing less efficient energy sources such as solar and wind at the detriment of more efficient alternatives.

The result has been less reliable energy infrastructure for all Americans and increased energy costs across the board. This naturally has a direct impact on bitcoin miners: increased energy costs make them less competitive globally.

Bitcoin mining represents a global energy market that does not require permission to participate. Anyone can plug a mining computer into power and internet to get paid the current dynamic market price for their work in bitcoin. Using cellphone or satellite internet, these mines can be located anywhere in the world, sourcing the cheapest power available.

Absent of regulation, bitcoin mining naturally incentivizes the build out of highly efficient and robust energy infrastructure. Unfortunately that world does not exist and burdensome regulations remain the biggest threat for US based mining businesses. Jurisdictional arbitrage gives miners the option of moving to a friendlier country but that naturally comes with its own costs.

Enter AI. With the rapid development and release of AI tools comes the requirement of running massive datacenters for their models. Major tech companies are scrambling to secure machines, rack space, and cheap energy to run full suites of AI enabled tools and services. The most valuable and powerful tech companies in America have stumbled into an accidental alliance with bitcoin miners: THE NEED FOR CHEAP AND RELIABLE ENERGY.

Our government is corrupt. Money talks. These companies will push for energy freedom and it will greatly benefit us all.

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Microsoft Cloud hiring to "implement global small modular reactor and microreactor" strategy to power data centers: https://www.datacenterdynamics.com/en/news/microsoft-cloud-hiring-to-implement-global-small-modular-reactor-and-microreactor-strategy-to-power-data-centers/

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Humanity's Natural State Is Chaos
Without order there is chaos. Humans competing with each other for scarce resources naturally leads to conflict until one group achieves significant power and instates a "monopoly on violence."

Power Brings Stability
Power has always been the key means to achieve stability in societies. Centralized power can be incredibly effective in addressing issues such as crime, poverty, and social unrest efficiently. Unfortunately this power is often abused and corrupted.

Centralized Power Breeds Tyranny
Centralized power often leads to tyrannical rule. When a select few individuals hold control over a society, they tend to become corrupted. Centralized power structures often lack accountability and transparency, and rely too heavily on trust.

Distributed Power Cultivates Freedom
New technology that empowers individuals provide us the ability to rebuild societies from the bottom up. Strong individuals that can defend and provide for themselves will help build strong local communities on a similar foundation. The result is power being distributed throughout society rather than held by a select few.

In the short term, relying on trust and centralized power is an easy answer to mitigating chaos, but freedom tech tools provide us the ability to build on top of much stronger distributed foundations that provide stability while also cultivating individual freedom.

The solution starts with us. Empower yourself. Empower others. A grassroots freedom tech movement scaling one person at a time.

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If you found this post helpful support my work with bitcoin.

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Contribute to keep No Bullshit Bitcoin news going.

• Coinswap is a decentralized protocol for private, trustless cryptocurrency swaps. It allows participants to securely swap digital assets without intermediaries, using advanced cryptographic techniques and atomic swaps to ensure privacy and security.
• This release introduces major improvements to the protocol's efficiency, security, and usability, including custom in-memory UTXO indexes, more advanced coin-selection algorithms, fidelity bond management and more.
• The update also improves user experience with full Mac support, faster Tor connections, enhanced UI/UX, a unified API, and improved protocol documentation.

"The Project is under active beta development and open for contributions and beta testing. The Coinswap market place is live in testnet4. Bug fixes and feature requests are very much welcome."

• Manuals and demo docs are available here.

What's new

• Core protocol and performance improvements:
  • Custom in-memory UTXO indexes. Frequent Core RPC calls, which caused significant delays, have been eliminated by implementing custom in-memory UTXO indexes. These indexes are also saved to disk, leading to faster wallet synchronization.
  • Coin selection. Advanced coin-selection algorithms, like those in Bitcoin Core, have been incorporated, enhancing the efficiency of creating different types of transactions.
  • Fidelity management. Maker servers now automate tasks such as checking bond expiries, redemption, and recreation for Fidelity Bonds, reducing the user's management responsibilities.
  • Taker liveness. The WaitingFundingConfirmation message has been added to keep swap connections between Takers and Makers, assisting with variable block confirmation delays.

• User experience and compatibility:

  • Mac compatibility. The crate and apps now fully support Mac.
  • Tor operations are streamlined for faster, more resilient connections. Tor addresses are now consistently linked to the wallet seed, maintaining the same onion address through system reboots.
  • The UI/UX improvements enhance the display of balances, UTXOs, offer data, fidelity bonds, and system logs. These updates make the apps more enjoyable and provide clearer coin swap logs during the swap process.

• API design improvements. Transaction creation routines have been streamlined to use a single common API, which reduces technical debt and eliminates redundant code.

• Protocol spec documentation now details how Coinswap breaks the transaction graph and improves privacy through routed swaps and amount splitting, and includes diagrams for clarity.

Source: Coinswap Protocol specification.

Announcement
GitHub Repo
Protocol Spec

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Contribute to keep No Bullshit Bitcoin news going.

• The latest firmware updates for COLDCARD devices introduce two major features: COLDCARD Co-sign (CCC) and Key Teleport between two COLDCARD Q devices using QR codes and/or NFC with a website.

What's new

• COLDCARD Co-Sign: When CCC is enabled, a second seed called the Spending Policy Key (Key C) is added to the device. This seed works with the device's Main Seed and one or more additional XPUBs (Backup Keys) to form 2-of-N multisig wallets.
  • The spending policy functions like a hardware security module (HSM), enforcing rules such as magnitude and velocity limits, address whitelisting, and 2FA authentication to protect funds while maintaining flexibility and control, and is enforced each time the Spending Policy Key is used for signing.
  • When spending conditions are met, the COLDCARD signs the partially signed bitcoin transaction (PSBT) with the Main Seed and Spending Policy Key for fund access. Once configured, the Spending Policy Key is required to view or change the policy, and violations are denied without explanation.

"You can override the spending policy at any time by signing with either a Backup Key and the Main Seed or two Backup Keys, depending on the number of keys (N) in the multisig."

• A step-by-step guide for setting up CCC is available here.

• Key Teleport for Q devices allows users to securely transfer sensitive data such as seed phrases (words, xprv), secure notes and passwords, and PSBTs for multisig. It uses QR codes or NFC, along with a helper website, to ensure reliable transmission, keeping your sensitive data protected throughout the process.

  • For more technical details, see the protocol spec.

"After you sign a multisig PSBT, you have option to “Key Teleport” the PSBT file to any one of the other signers in the wallet. We already have a shared pubkey with them, so the process is simple and does not require any action on their part in advance. Plus, starting in this firmware release, COLDCARD can finalize multisig transactions, so the last signer can publish the signed transaction via PushTX (NFC tap) to get it on the blockchain directly."

• Multisig transactions are finalized when sufficiently signed. It streamlines the use of PushTX with multisig wallets.
• Signing artifacts re-export to various media. Users are now provided with the capability to export signing products, like transactions or PSBTs, to alternative media rather than the original source. For example, if a PSBT is received through a QR code, it can be signed and saved onto an SD card if needed.
• Multisig export files are signed now. Public keys are encoded as P2PKH address for all multisg signature exports. Learn more about it here.
• NFC export usability upgrade: NFC keeps exporting until CANCEL/X is pressed.
• Added Bitcoin Safe option to Export Wallet.
• 10% performance improvement in USB upload speed for large files.
• Q: Always choose the biggest possible display size for QR.

Fixes

• Do not allow change Main PIN to same value already used as Trick PIN, even if Trick PIN is hidden.
• Fix stuck progress bar under Receiving... after a USB communications failure.
• Showing derivation path in Address Explorer for root key (m) showed double slash (//).
• Can restore developer backup with custom password other than 12 words format.
• Virtual Disk auto mode ignores already signed PSBTs (with “-signed” in file name).
• Virtual Disk auto mode stuck on “Reading…” screen sometimes.
• Finalization of foreign inputs from partial signatures. Thanks Christian Uebber!
• Temporary seed from COLDCARD backup failed to load stored multisig wallets.
• Destroy Seed also removes all Trick PINs from SE2.
• Lock Down Seed requires pressing confirm key (4) to execute.
• Q only: Only BBQr is allowed to export Coldcard, Core, and pretty descriptor.

Blog Post / Archive
GitHub Repo
CCC Guide
Key Teleport site

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News

• Bitcoin mining centralization in 2025. According to a blog post by b10c, Bitcoin mining was at its most decentralized in May 2017, with another favorable period from 2019 to 2022. However, starting in 2023, mining has become increasingly centralized, particularly due to the influence of large pools like Foundry and the use of proxy pooling by entities such as AntPool.

Source: b10c's blog.

• OpenSats announces the eleventh wave of Nostr grants. The five projects in this wave are the mobile live-streaming app Swae, the Nostr-over-ham-radio project HAMSTR, Vertex—a Web-of-Trust (WOT) service for Nostr developers, Nostr Double Ratchet for end-to-end encrypted messaging, and the Nostr Game Engine for building games and applications integrated with the Nostr ecosystem.
• New Spiral grantee: l0rinc. In February 2024, l0rinc transitioned to full-time work on Bitcoin Core. His efforts focus on performance benchmarking and optimizations, enhancing code quality, conducting code reviews, reducing block download times, optimizing memory usage, and refactoring code.
• Project Eleven offers 1 BTC to break Bitcoin's cryptography with a quantum computer. The quantum computing research organization has introduced the Q-Day Prize, a global challenge that offers 1 BTC to the first team capable of breaking an elliptic curve cryptographic (ECC) key using Shor’s algorithm on a quantum computer. The prize will be awarded to the first team to successfully accomplish this breakthrough by April 5, 2026.
• Unchained has launched the Bitcoin Legacy Project. The initiative seeks to advance the Bitcoin ecosystem through a bitcoin-native donor-advised fund platform (DAF), investments in community hubs, support for education and open-source development, and a commitment to long-term sustainability with transparent annual reporting.
  • In its first year, the program will provide support to Bitcoin hubs in Nashville, Austin, and Denver.
  • Support also includes $50,000 to the Bitcoin Policy Institute, a $150,000 commitment at the University of Austin, and up to $250,000 in research grants through the Bitcoin Scholars program.

"Unchained will match grants 1:1 made to partner organizations who support Bitcoin Core development when made through the Unchained-powered bitcoin DAF, up to 1 BTC," was stated in a blog post.

• Block launched open-source tools for Bitcoin treasury management. These include a dashboard for managing corporate bitcoin holdings and provides a real-time BTC-to-USD price quote API, released as part of the Block Open Source initiative. The company’s own instance of the bitcoin holdings dashboard is available here.

Source: block.xyz

• Bull Bitcoin expands to Mexico, enabling anyone in the country to receive pesos from anywhere in the world straight from a Bitcoin wallet. Additionally, users can now buy Bitcoin with a Mexican bank account.

"Bull Bitcoin strongly believes in Bitcoin’s economic potential in Mexico, not only for international remittances and tourism, but also for Mexican individuals and companies to reclaim their financial sovereignty and protect their wealth from inflation and the fragility of traditional financial markets," said Francis Pouliot, Founder and CEO of Bull Bitcoin.

• Corporate bitcoin holdings hit a record high in Q1 2025. According to Bitwise, public companies' adoption of Bitcoin has hit an all-time high. In Q1 2025, these firms collectively hold over 688,000 BTC, marking a 16.11% increase from the previous quarter. This amount represents 3.28% of Bitcoin's fixed 21 million supply.

Source: Bitwise.

• The Bitcoin Bond Company for institutions has launched with the aim of acquiring $1 trillion in Bitcoin over 21 years. It utilizes secure, transparent, and compliant bond-like products backed by Bitcoin.
• The U.S. Senate confirmed Paul Atkins as Chair of the Securities and Exchange Commission (SEC). At his confirmation hearing, Atkins emphasized the need for a clear framework for digital assets. He aims to collaborate with the CFTC and Congress to address jurisdiction and rulemaking gaps, aligning with the Trump administration's goal to position the U.S. as a leader in Bitcoin and blockchain finance.
• Ethereum developer Virgil Griffith has been released from custody. Griffith, whose sentence was reduced to 56 months, is now seeking a pardon. He was initially sentenced to 63 months for allegedly violating international sanctions laws by providing technical advice on using cryptocurrencies and blockchain technology to evade sanctions during a presentation titled 'Blockchains for Peace' in North Korea.
• No-KYC exchange eXch to close down under money laundering scrutiny. The privacy-focused cryptocurrency trading platform said it will cease operations on May 1. This decision follows allegations that the platform was used by North Korea's Lazarus Group for money laundering. eXch revealed it is the subject of an active "transatlantic operation" aimed at shutting down the platform and prosecuting its team for "money laundering and terrorism."
• Blockstream combats ESP32 FUD concerning Jade signers. The company stated that after reviewing the vulnerability disclosed in early March, Jade was found to be secure. Espressif Systems, the designer of the ESP32, has since clarified that the "undocumented commands" do not constitute a "backdoor."

• Bank of America is lobbying for regulations that favor banks over tech firms in stablecoin issuance. The bank's CEO Brian Moynihan is working with groups such as the American Bankers Association to advance the issuance of a fully reserved, 1:1 backed "Bank of America coin." If successful, this could limit stablecoin efforts by non-banks like Tether, Circle, and others, reports The Block.
• Tether to back OCEAN Pool with its hashrate. "As a company committed to financial freedom and open access, we see supporting decentralization in Bitcoin mining as essential to the network’s long-term integrity," said Tether CEO Paolo Ardoino.
• Bitdeer to expand its self-mining operations to navigate tariffs. The Singapore-based mining company is advancing plans to produce machines in the U.S. while reducing its mining hardware sales. This response is in light of increasing uncertainties related to U.S. trade policy, as reported by Bloomberg.
• Tether acquires $32M in Bitdeer shares. The firm has boosted its investment in Bitdeer during a wider market sell-off, with purchases in early to mid-April amounting to about $32 million, regulatory filings reveal.
• US Bitcoin miner manufacturer Auradine has raised $153 million in a Series C funding round as it expands into AI infrastructure. The round was led by StepStone Group and included participation from Maverick Silicon, Premji Invest, Samsung Catalyst Fund, Qualcomm Ventures, Mayfield, MARA Holdings, GSBackers, and other existing investors. The firm raised to over $300 million since its inception in 2022.
• Voltage has partnered with BitGo to [enable](https://www.voltage.cloud/blog/bitgo-and-voltage-team-up-to-deliver-instant-bitcoin-and-stabl

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Experiment Plan for Text Similarity Comparison Algorithms (Revised v3)

1. Introduction

1.1. Research Background and Objectives

This research aims to evaluate the performance of various algorithms for comparing the similarity between individual page texts extracted from a specific technical document (in this experiment, the content of the Tailwind CSS documentation site). Initially, we considered dividing the text into 250-word chunks. However, due to the abundance of Markdown and code in the target document, meaningful chunking proved tobe cumbersome. Therefore, we decided to use the entire text extracted from each page as the unit of comparison.

This study will systematically compare and examine combinations of different "representation methods" and "comparison methods" from multiple perspectives: ease of implementation, processing speed, memory consumption, and accuracy of similarity judgment. A particular focus will be on elucidating the effectiveness of information-based NCD (Normalized Compression Distance) and vector embedding-based methods, which are planned for future evaluation.

1.2. Report Structure

This report will first describe the experimental data and its preprocessing methods. Next, it will define in detail the representation methods and comparison methods that form the axes of evaluation, and present specific experimental cases combining them. After presenting the results and discussion of initial experiments using NCD, it will describe the metrics for evaluating each experimental case, specific experimental procedures, and the expected outcomes and future prospects of this research.

2. Experimental Data

• Target Content: Individual HTML pages from the Tailwind CSS documentation site (tailwindcss.com).
• Data Unit: The entire text of each page, extracted from HTML files using the html2text command and further processed to remove control characters using the sed command. This serves as the basic unit of comparison in this experiment.
• Data Storage Location: The extracted and preprocessed text files are stored locally under the ./tailwindcss.com directory, maintaining the original file structure.
• Language: English
• Example Search Query: A representative search query for this experiment is "Utilities for controlling how a background image behaves when scrolling." (Multiple queries and their expected similar pages may be used for more robust evaluation).
• Example Expected Similar Page: For the query above, /docs/background-attachment is expected to be the most semantically similar page.

3. Experimental Design

This experiment is designed by dividing the process of evaluating text similarity into two main axes: "Representation Methods" and "Comparison Methods."

3.1. Representation Methods (Text Quantification/Vectorization)

1. Naive (Raw Text / Full Page Text)

   • Method: Use the entire preprocessed text extracted from each document page as raw string data, without special transformations.
   • Objective: Serve as a direct input for information-based comparison methods like NCD and as a baseline comparison for more advanced representation methods to be evaluated later.

2. (Future Experiment) Vector Embedding via Gemini API (Embedding-Gemini)

   • Method: Utilize Google's Gemini API (models/text-embedding-004) to convert the entire text of each page into high-dimensional dense vectors (Embeddings).
   • Objective: Evaluate the performance of context-rich vector representations generated by a state-of-the-art large language model.

3. (Future Experiment) Vector Embedding via Local Lightweight Model (Embedding-MiniLM-GGUF)

   • Method: Run a GGUF quantized version of the pre-trained all-MiniLM-L6-v2 model (all-MiniLM-L6-v2-Q5_K_M.gguf) in a local environment to convert the entire text of each page into vector representations. GGUF format offers benefits like smaller model size and potentially faster CPU inference.
   • Objective: Evaluate the performance of a widely used open-source lightweight model (quantized version) in comparison to API-based large-scale models and domain-specific learned models.

4. (Future Experiment) Extraction of Internal Feature Vectors via Mathematica (Embedding-MMA)

   • Method: Use the entire page texts from the target document set as input. Employ Mathematica's neural network framework to first pass each page text through an Embedding Layer. Apply L2 normalization to the resulting vectors, followed by Principal Component Analysis (PCA) to reduce dimensionality to approximately 100 dimensions. This final vector will be the feature vector. This pipeline aims to create dense, normalized representations specific to the document corpus, with PCA helping to capture the most significant variance in a lower-dimensional space, potentially improving efficiency and reducing noise. The choice of an Embedding Layer trained or fine-tuned on the corpus, followed by PCA, seeks to balance domain-specificity with robust dimensionality reduction.
   • Objective: Evaluate the performance of vector representations processed or specialized for the target document set.

3.2. Comparison Methods (Distance/Similarity Calculation between Representations)

1. NCD (Normalized Compression Distance)

   • Applicable to: Naive (Full Page Text)
   • Method: For two data objects x (query) and y (document page text), calculate NCD(x,y) = (C(xy) - min(C(x), C(y))) / max(C(x), C(y)). Here, C(s) is the size (e.g., byte length) of data s after compression with a specific algorithm, and C(xy) is the size of the concatenated data x and y after compression. A value closer to 0 indicates higher similarity.
   • Compression Algorithms to Compare: DEFLATE (gzip), bzip2, LZMA, XZ, Zstandard (zstd), LZO, Snappy, LZ4 (as used in the user-provided script).
   • Objective: Evaluate similarity from an information-theoretic perspective based on data commonality and redundancy. Compare the impact of different compression algorithms on NCD results.

2. (Future Experiment) Cosine Similarity

   • Applicable to: Embedding-Gemini, Embedding-MiniLM-GGUF, Embedding-MMA
   • Method: Calculate the cosine of the angle between two vectors.
   • Objective: Standard similarity evaluation based on the directionality (semantic closeness) of vector representations.

3. (Future Experiment) Euclidean Distance

   • Applicable to: Embedding-Gemini, Embedding-MiniLM-GGUF, Embedding-MMA
   • Method: Calculate the straight-line distance between two vectors in a multidimensional space.
   • Objective: Similarity evaluation based on the absolute positional relationship of vector representations.

4. (Future Experiment) Manhattan Distance (L1 Distance)

   • Applicable to: Embedding-Gemini, Embedding-MiniLM-GGUF, Embedding-MMA
   • Method: Calculate the sum of the absolute differences of their Cartesian coordinates.
   • Objective: Similarity evaluation based on axis-aligned travel distance, differing from Euclidean distance.

5. (Future Experiment) Mahalanobis Distance

   • Applicable to: Embedding-Gemini, Embedding-MiniLM-GGUF, Embedding-MMA
   • Method: Calculate the distance between two vectors considering the covariance of the data. This provides a distance metric that accounts for the scale differences and correlations of each feature (vector dimension).
   • Objective: More robust similarity evaluation that considers the structure (correlation) of the feature space.

3.3. Experimental Cases (Initial NCD Experiments and Future Expansion)

3.3.1. Initial Experiments Conducted (NCD)

The following experimental cases were conducted using the user-provided script. The representation method was "Naive (Full Page Text)."

| No. | Representation Method | Comparison Method (Distance/Similarity Metric) | Notes | | :-: | :---------------------- | :--------------------------------------------- | :-------------------------- | | 1 | Naive (Full Page Text) | NCD (gzip/DEFLATE) | One of the baselines | | 2 | Naive (Full Page Text) | NCD (bzip2) | Compression method comparison | | 3 | Naive (Full Page Text) | NCD (lzma) | Compression method comparison | | 4 | Naive (Full Page Text) | NCD (xz) | Compression method comparison | | 5 | Naive (Full Page Text) | NCD (zstd) | Compression method comparison | | 6 | Naive (Full Page Text) | NCD (lzop) | Compression method comparison | | 7 | Naive (Full Page Text) | NCD (snappy) | Compression method comparison | | 8 | Naive (Full Page Text) | NCD (lz4) | Compression method comparison |

3.3.2. Future Experimental Plan (Vector Embedding)

| No. | Representation Method | Comparison Method (Distance/Similarity Metric) | Notes | | :--: | :---------------------- | :--------------------------------------------- | :------------------------------------- | | 9 | Embedding-Gemini | Cosine Similarity | Standard vector similarity evaluation | | 10 | Embedding-Gemini | Euclidean Distance | Standard vector similarity evaluation | | 11 | Embedding-Gemini | Manhattan Distance | Axis-aligned distance similarity eval. | | 12 | Embedding-Gemini | Mahalanobis Distance | Distance considering feature structure | | 13 | Embedding-MiniLM-GGUF | Cosine Similarity | Evaluation of local lightweight model | | 14 | Embedding-MiniLM-GGUF | Euclidean Distance | Evaluation of local lightweight model | | 15 | Embedding-MiniLM-GGUF | Manhattan Distance | Evaluation of local lightweight model | | 16 | Embedding-MiniLM-GGUF | Mahalanobis Distance | Evaluation of local lightweight model | | 17 | Embedding-MMA | Cosine Similarity | Eval. of domain-specific MMA model | | 18 | Embedding-MMA | Euclidean Distance | Eval. of domain-specific MMA model | | 19 | Embedding-MMA | Manhattan Distance | Eval. of domain-specific MMA model | | 20 | Embedding-MMA | Mahalanobis Distance | Eval. of domain-specific MMA model |

4. Results and Discussion of Initial NCD Experiments (Based on User-Provided Information)

4.1. Execution Overview

The user employed provided Python scripts (main.py, comparison.py) to calculate NCD between a search query and the entire text extracted from each HTML page in the ./tailwindcss.com directory. main.py invoked comparison.py with various compression commands (gzip, bzip2, lzma, xz, zstd, lzop, lz4). comparison.py then used the specified command-line compression tools to compute NCD scores and output the results to CSV files.

Search Query: "Utilities for controlling how a background image behaves when scrolling." Expected Similar Page: /docs/background-attachment

4.2. Key Results

The pages judged as most similar (lowest NCD score) to the query for each compression algorithm were as follows (based on user-provided sorted results):

• Zstandard (zstd): ./tailwindcss.com/docs/background-attachment (Score: 0.973...)
• LZ4: ./tailwindcss.com/docs/background-attachment (Score: 0.976...)
• XZ: ./tailwindcss.com/docs/background-origin (Score: 0.946...)
• LZMA: ./tailwindcss.com/docs/background-origin (Score: 0.966...)
• gzip (DEFLATE): ./tailwindcss.com/docs/scroll-behavior (Score: 0.969...)
• LZO: ./tailwindcss.com/docs/scroll-behavior (Score: 0.955...)
• bzip2: ./tailwindcss.com/docs/mask-clip (Score: 0.958...)

4.3. Initial Discussion

• Variation in Results by Compression Algorithm: It was confirmed that the document judged most similar to the query varies depending on the compression algorithm used. This is likely due to the differing abilities of each algorithm to capture various types of redundancy and patterns within the text.
• Alignment with Expected Results: When using Zstandard and LZ4, the expected page (/docs/background-attachment) was judged as most similar. This suggests these compression algorithms may have relatively effectively captured the information-theoretic commonality between the query and the target document in this instance.
• Range of NCD Scores: The reported NCD scores were generally close to 1.0. This may be due to the relatively short length of the search query compared to the full-page documents, meaning the query text contributes less to the overall compressibility when concatenated. However, relative differences were still captured, enabling ranking.
• Validity of Full-Page Comparison: Full-page comparison was chosen due to the difficulty of chunking content rich in Markdown and code. While this approach simplifies preprocessing, it may also be influenced by the overall structure of the page, including common headers and footers.

This initial experiment indicates that NCD can function as an indicator of text similarity and that the choice of compression algorithm is crucial.

5. Evaluation Metrics (Including Future Experiments)

1. Accuracy of Similarity Scores:

   • Ground Truth Preparation: A small, diverse subset of page pairs (e.g., 50-100 pairs) will be selected. For each pair, at least two evaluators familiar with the Tailwind CSS documentation will independently assign a similarity score on a 5-point Likert scale (1=Not similar, 5=Very similar). Inter-evaluator reliability (e.g., using Krippendorff's Alpha) will be calculated. Disagreements will be resolved through discussion to create a consensus ground truth dataset. If resource-constrained, a single-evaluator approach with clear, predefined criteria will be used, acknowledging this limitation. Alternatively, page pairs likely to be similar will be selected based on internal references or chapter structure within the document.
   • Evaluation Metrics: Ranking evaluation (Precision@k, Recall@k, MAP: Mean Average Precision), correlation analysis (Spearman's rank correlation coefficient with human judgments), classification evaluation (AUC-ROC, F1-score, assuming appropriate thresholding).

2. Processing Speed:

   • Average time to calculate similarity for a page pair, total calculation time for all page pairs (or a large sampled set), and representation generation time (API call time, local model inference time, MMA processing time).

3. Memory Consumption:

   • Model size (MiniLM-GGUF, MMA model), data representation size, and peak runtime memory usage.

4. Ease of Implementation:

   • Qualitative assessment of setup ease, lines of code, required libraries, difficulty of parameter tuning, and documentation quality. This will be summarized for each approach (e.g., using a rubric or a comparative narrative) considering factors like:
     • Setup Complexity: (e.g., API key acquisition vs. local model download & environment setup vs. full model training pipeline in Mathematica).
     • Code Complexity: Estimated lines of core logic, reliance on external vs. standard libraries.
     • Parameter Sensitivity: Number of key hyperparameters requiring tuning and the perceived difficulty of finding good settings.
     • Documentation & Community Support: Availability and clarity of official documentation and community resources (e.g., forums, GitHub issues).

6. Experimental Procedure (Including Future Experiments)

1. Data Preparation:

   • Prepare HTML files of the target document in the ./tailwindcss.com directory.
   • (For NCD) Extract and preprocess full-page plain text from each HTML file using html2text and sed (as previously done by the user).
   • (For Vector Embedding) Use the same preprocessed full-page plain text.
   • Create ground truth data for accuracy evaluation as described in Section 5.1.

2. Implementation and Execution of Representation Methods:

   • Naive: Use the preprocessed page text directly.
   • Embedding-Gemini: Use Python's requests library or similar to send each page text to the Gemini API (models/text-embedding-004) and retrieve/store the vector representations.
   • Embedding-MiniLM-GGUF: Use appropriate libraries (e.g., ctransformers, or sentence-transformers combined with llama-cpp-python) to load the all-MiniLM-L6-v2-Q5_K_M.gguf model. Input each page text to extract and store vector representations.
   • Embedding-MMA: In Mathematica, apply an Embedding Layer to each page text, followed by L2 normalization and PCA dimensionality reduction (to approx. 100 dimensions), then extract and store the vector representations.

3. Implementation and Execution of Comparison Methods:

   • NCD: Refer to the user-provided Python scripts (main.py, comparison.py) to call various command-line compression tools for NCD calculation. Alternatively, extend this to directly use Python's compression libraries for better control and efficiency.
   • Cosine Similarity, Euclidean Distance, Manhattan Distance: Implement using standard math libraries (e.g., Python's NumPy, SciPy).
   • Mahalanobis Distance: Implement using scipy.spatial.distance.mahalanobis. Requires pre-calculation of the covariance matrix (or its inverse) from the entire dataset of vectors for each embedding type.

4. Evaluation Execution:

   • Calculate similarity (or distance) scores between the search query (and potentially between page pairs for ground truth evaluation) and all document pages for each experimental case.
   • Measure processing speed and memory consumption.
   • Calculate accuracy metrics using the computed similarity scores and ground truth data.
   • Record and evaluate the ease of implementation.

5. Result Aggregation and Analysis:

   • Compile the obtained evaluation metrics into tables and graphs for comparative analysis of each method's characteristics.

Experimental Environment (Assumed)

• Hardware: (e.g., CPU: Intel Core i7-10700, Memory: 32GB RAM, GPU: NVIDIA GeForce RTX 3070 8GB - specify if GPU is used for MiniLM or MMA)
• Software: (e.g., OS: Linux (Ubuntu, etc.), Programming Language: Python 3.x (with versions for key libraries like NumPy, SciPy, requests, ctransformers, etc.), Mathematica 13.x, specific versions of command-line compression tools if used directly)

7. Expected Outcomes and Future Outlook

This research (including initial NCD experiments and future vector embedding experiments) is expected to yield the following outcomes:

• Clarification of the Impact of Compression Algorithms on NCD: As indicated by initial experiments, the choice of compression algorithm significantly affects similarity judgments. Further validation with more diverse data and queries will allow for a deeper understanding of each algorithm's characteristics.
• Performance Characteristics of Various Methods on Full-Page Text: To clarify how NCD and various vector embedding methods perform in terms of accuracy, speed, and resource consumption when applied to entire page texts.
• Comparison of Local and API-Based Models: In future vector embedding experiments, to compare the performance, speed, and resource efficiency of Embedding-MiniLM-GGUF (local, quantized) and Embedding-Gemini (API, large-scale) to identify practical trade-offs.
• Evaluation of Domain-Specific Embedding Effectiveness: To assess how well Embedding-MMA, processed or tuned for a single technical document set, performs compared to general-purpose models.
• Provision of Practical Insights: To offer guidelines for selecting appropriate similarity comparison approaches based on text characteristics (e.g., Markdown/code content) and system requirements (e.g., ease of preprocessing, emphasis on accuracy vs. speed).

8. Future Challenges

• Ensuring Quality of Ground Truth Data: Evaluating full-page similarity can be more subjective than chunk-level evaluation, making the creation of high-quality ground truth data challenging. Establishing clear annotation guidelines and measuring inter-annotator agreement will be crucial.
• Hyperparameter Optimization: Many methods involve tunable parameters (e.g., Embedding-MMA model structure, PCA dimensionality, MiniLM-GGUF inference parameters), the optimization of which may be beyond the scope of this initial study. The impact of default vs. tuned parameters could be noted.
• Noise in Full-Page Comparison: Full-page texts may contain common navigational elements or boilerplate text that could act as noise in similarity judgments. Strategies to mitigate this (e.g., more advanced text extraction, or methods robust to such noise) could be a future research direction.
• Input Length Limitations of Vector Embedding Models: Very long page texts might exceed the input length limits of some vector embedding models, requiring strategies for handling. These might include:
  • Truncation: Using only the initial N tokens of each page, which is simple but may lose crucial information.
  • Summarization: Employing an abstractive or extractive summarization model to create a condensed version of the page, which could preserve key information but adds another layer of processing and potential information loss/bias.
  • Chunking and Averaging/Pooling: Dividing long pages into manageable chunks, embedding each chunk, and then aggregating these chunk embeddings (e.g., by averaging) to get a single page vector. This approach needs careful consideration of how chunks are defined and aggregated.
  • Utilizing Long-Context Models: If available and feasible, leveraging embedding models specifically designed for longer sequences. The chosen strategy will be documented, and its potential impact on results acknowledged.

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Good morning (good night?)! The No Bullshit Bitcoin news feed is now available on Moody's Dashboard! A huge shoutout to sir Clark Moody for integrating our feed.

Headlines

• Spiral welcomes Ben Carman. The developer will work on the LDK server and a new SDK designed to simplify the onboarding process for new self-custodial Bitcoin users.

• The Bitcoin Dev Kit Foundation announced new corporate members for 2025, including AnchorWatch, CleanSpark, and Proton Foundation. The annual dues from these corporate members fund the small team of open-source developers responsible for maintaining the core BDK libraries and related free and open-source software (FOSS) projects.
• Strategy increases Bitcoin holdings to 538,200 BTC. In the latest purchase, the company has spent more than $555M to buy 6,556 coins through proceeds of two at-the-market stock offering programs.
• Spar supermarket experiments with Bitcoin payments in Zug, Switzerland. The store has introduced a new payment method powered by the Lightning Network. The implementation was facilitated by DFX Swiss, a service that supports seamless conversions between bitcoin and legacy currencies.

• The Bank for International Settlements (BIS) wants to contain 'crypto' risks. A report titled "Cryptocurrencies and Decentralised Finance: Functions and Financial Stability Implications" calls for expanding research into "how new forms of central bank money, capital controls, and taxation policies can counter the risks of widespread crypto adoption while still fostering technological innovation."
• "Global Implications of Scam Centres, Underground Banking, and Illicit Online Marketplaces in Southeast Asia." According to the United Nations Office on Drugs and Crime (UNODC) report, criminal organizations from East and Southeast Asia are swiftly extending their global reach. These groups are moving beyond traditional scams and trafficking, creating sophisticated online networks that include unlicensed cryptocurrency exchanges, encrypted communication platforms, and stablecoins, fueling a massive fraud economy on an industrial scale.
• Slovenia is considering a 25% capital gains tax on Bitcoin profits for individuals. The Ministry of Finance has proposed legislation to impose this tax on gains from cryptocurrency transactions, though exchanging one cryptocurrency for another would remain exempt. At present, individual 'crypto' traders in Slovenia are not taxed.
• Circle, BitGo, Coinbase, and Paxos plan to apply for U.S. bank charters or licenses. According to a report in The Wall Street Journal, major crypto companies are planning to apply for U.S. bank charters or licenses. These firms are pursuing limited licenses that would permit them to issue stablecoins, as the U.S. Congress deliberates on legislation mandating licensing for stablecoin issuers.

"Established banks, like Bank of America, are hoping to amend the current drafts of [stablecoin] legislation in such a way that nonbanks are more heavily restricted from issuing stablecoins," people familiar with the matter told The Block.

• Charles Schwab to launch spot Bitcoin trading by 2026. The financial investment firm, managing over $10 trillion in assets, has revealed plans to introduce spot Bitcoin trading for its clients within the next year.

Use the tools

• Bitcoin Safe v1.2.3 expands QR SignMessage compatibility for all QR-UR-compatible hardware signers (SpecterDIY, KeyStone, Passport, Jade; already supported COLDCARD Q). It also adds the ability to import wallets via QR, ensuring compatibility with Keystone's latest firmware (2.0.6), alongside other improvements.
• Minibits v0.2.2-beta, an ecash wallet for Android devices, packages many changes to align the project with the planned iOS app release. New features and improvements include the ability to lock ecash to a receiver's pubkey, faster confirmations of ecash minting and payments thanks to WebSockets, UI-related fixes, and more.
• Zeus v0.11.0-alpha1 introduces Cashu wallets tied to embedded LND wallets. Navigate to Settings > Ecash to enable it. Other wallet types can still sweep funds from Cashu tokens. Zeus Pay now supports Cashu address types in Zaplocker, Cashu, and NWC modes.
• LNDg v1.10.0, an advanced web interface designed for analyzing Lightning Network Daemon (LND) data and automating node management tasks, introduces performance improvements, adds a new metrics page for unprofitable and stuck channels, and displays warnings for batch openings. The Profit and Loss Chart has been updated to include on-chain costs. Advanced settings have been added for users who would like their channel database size to be read remotely (the default remains local). Additionally, the AutoFees tool now uses aggregated pubkey metrics for multiple channels with the same peer.
• Nunchuk Desktop v1.9.45 release brings the latest bug fixes and improvements.
• Blockstream Green iOS v4.1.8 has renamed L-BTC to LBTC, and improves translations of notifications, login time, and background payments.
• Blockstream Green Android v4.1.8 has added language preference in App Settings and enables an Android data backup option for disaster recovery. Additionally, it fixes issues with Jade entry point PIN timeout and Trezor passphrase input.
• Torq v2.2.2, an advanced Lightning node management software designed to handle large nodes with over 1000 channels, fixes bugs that caused channel balance to not be updated in some cases and channel "peer total local balance" not getting updated.
• Stack Wallet v2.1.12, a multicoin wallet by Cypher Stack, fixes an issue with Xelis introduced in the latest release for Windows.
• ESP-Miner-NerdQAxePlus v1.0.29.1, a forked version from the NerdAxe miner that was modified for use on the NerdQAxe+, is now available.
• Zark enables sending sats to an npub using Bark.

• Erk is a novel variation of the Ark protocol that completely removes the need for user interactivity in rounds, addressing one of Ark's key limitations: the requirement for users to come online before their VTXOs expire.
• Aegis v0.1.1 is now available. It is a Nostr event signer app for iOS devices.
• Nostash is a NIP-07 Nostr signing extension for Safari. It is a fork of Nostore and is maintained by Terry Yiu. Available on iOS TestFlight.
• Amber v3.2.8, a Nostr event signer for Android, delivers the latest fixes and improvements.
• Nostur v1.20.0, a Nostr client for iOS, adds

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Headlines

• Twenty One Capital is set to launch with over 42,000 BTC in its treasury. This new Bitcoin-native firm, backed by Tether and SoftBank, is planned to go public via a SPAC merger with Cantor Equity Partners and will be led by Jack Mallers, co-founder and CEO of Strike. According to a report by the Financial Times, the company aims to replicate the model of Michael Saylor with his company, MicroStrategy.
• Florida's SB 868 proposes a backdoor into encrypted platforms. The bill and its House companion have both passed through their respective committees and are headed to a full vote. If enacted, SB 868 would require social media companies to decrypt teens' private messages, ban disappearing messages, allow unrestricted parental access to private messages, and likely eliminate encryption for all minors altogether.
• Paul Atkins has officially assumed the role of the 34th Chairman of the US Securities and Exchange Commission (SEC). This is a return to the agency for Atkins, who previously served as an SEC Commissioner from 2002 to 2008 under the George W. Bush administration. He has committed to advancing the SEC’s mission of fostering capital formation, safeguarding investors, and ensuring fair and efficient markets.
• Solosatoshi.com has sold over 10,000 open-source miners, adding more than 10 PH of hashpower to the Bitcoin network.

"Thank you, Bitaxe community. OSMU developers, your brilliance built this. Supporters, your belief drives us. Customers, your trust powers 10,000+ miners and 10PH globally. Together, we’re decentralizing Bitcoin’s future. Last but certainly not least, thank you@skot9000 for not only creating a freedom tool, but instilling the idea into thousands of people, that Bitcoin mining can be for everyone again," said the firm on X.

• OCEAN's DATUM has found 100 blocks. "Over 65% of OCEAN’s miners are using DATUM, and that number is growing every day. This means block template construction is making its way back into the hands of the miners, which is not only the most profitable for miners on OCEAN but also one of the best things for Bitcoin," stated the mining pool.

Source: orangesurf

• Arch Labs has secured $13 million to develop "ArchVM" and integrate smart-contract functionality with Bitcoin. The funding round, valuing the company at $200 million, was led by Pantera Capital, as announced on Tuesday.
• Tesla still holds nearly $1 billion in bitcoin. According to the automaker's latest earnings report, the firm reported digital asset holdings worth $951 million as of March 31.
• The European Central Bank is pushing for amendments to the European Union's Markets in Crypto Assets legislation (MiCA), just months after its implementation. According to Politico's report on Tuesday, the ECB is concerned that U.S. support for cryptocurrency, particularly stablecoins, could cause economic harm to the 27-nation bloc.
• TABConf 2025 is scheduled to take place from October 13-16, 2025. This prominent technical Bitcoin conference is dedicated to community building, education, and developer support, and it is set to return in October. Get your tickets here.
• Kaduna Lightning Development Bootcamp. From May 14th to 17th, the Bitcoin Lightning Developer Bootcamp will take place in Kaduna, Nigeria. Thisevent offers four dynamic days of coding, learning, and networking. Organized by Africa Free Routing and supported by Btrust, Tether, and African Bitcoiners, this bootcamp is designed as a gateway for African developers eager to advance their skills in Bitcoin and Lightning development. Apply here.

Source: African Bitcoiners.

Use the tools

• Core Lightning (CLN) v25.02.2 as been released to fix a broken Docker image. The issue was caused by an SQLite version that did not support an advanced query.
• Blitz wallet v0.4.4-beta introduces several updates and improvements, including the prevention of duplicate ecash payments, fixes for background ecash invoice handling, the ability for users to send payments to BOLT12 invoices from their Liquid balance, support for Blink QR codes, a lowered minimum amount for Lightning-to-Liquid payments to 100 sats, the option to initiate a node sync via a swipe gesture on the wallet's home screen, and the introduction of opt-in or opt-out functionality for newly implemented crash analytics via settings.
• Utreexo v0.5.0, a hash-based dynamic accumulator, is now available.
• Specter v2.1.1 is now available on StartOS. "This update brings compatibility with Bitcoin Core v28 and incorporates several upstream improvements," said developer Alex71btc.
• ESP-Miner (AxeOS) v2.7.0b1 is now available for testing.
• NodeGuard v0.16.1, a treasury management solution for Lightning nodes, has been released.
• The latest stacker.news updates include prompts to add a receiving wallet when posting or making comments (for new users), an option to randomize poll choices, improved URL search, and a few other enhancements. A bug fix for territories created after 9/19/24 has been implemented to reward 70% of their revenue to owners instead of 50%.

Other stuff

• The April edition of the 256 Foundation's newsletter is now available. It includes the latest mining news, Bitcoin network health updates, project developments, and a tutorial on how to update FutureBit's Apollo 1 to the Apollo 2 software.
• Siggy47 has posted a comprehensive RoboSats guide on stacker.news.
• Learn how to run your own Nostr relay using Citrine and Cloudflare Tunnels by following this step-by-step guide by Dhalism.
• Max Guise has written a Bitkey roadmap update for April 2025.

• PlebLab has uploaded a video on how to build a Rust wallet with LDK Node by Ben Carman.

• Do you want more? Subscribe and get No Bullshit GM report straight to your mailbox and No Bullshit Bitcoin on Nostr.

• Feedback or tips? Drop it here.
• #FREESAMOURAI

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Headlines

• Spiral renews support for Dan Gould and Joschisan. The organization has renewed support for Dan Gould, who is developing the Payjoin Dev Kit (PDK), and Joschisan, a Fedimint developer focused on simplifying federations.
• Metaplanet buys another 145 BTC. The Tokyo-listed company has purchased an additional 145 BTC for $13.6 million. Their total bitcoin holdings now stand at 5,000 coins, worth around $428.1 million.
• Semler Scientific has increased its bitcoin holdings to 3,303 BTC. The company acquired an additional 111 BTC at an average price of $90,124. The purchase was funded through proceeds from an at-the-market offering and cash reserves, as stated in a press release.
• The Virtual Asset Service Providers (VASP) Bill 2025 introduced in Kenya. The new legislation aims to establish a comprehensive legal framework for licensing, regulating, and supervising virtual asset service providers (VASPs), with strict penalties for non-compliant entities.
• Russian government to launch a cryptocurrency exchange. The country's Ministry of Finance and Central Bank announced plans to establish a trading platform for "highly qualified investors" that "will legalize crypto assets and bring crypto operations out of the shadows."
• All virtual asset service providers expect to be fully compliant with the Travel Rule by the end of 2025. A survey by financial surveillance specialist Notabene reveals that 90% of virtual asset service providers (VASPs) expect full Travel Rule compliance by mid-2025, with all aiming for compliance by year-end. The survey also shows a significant rise in VASPs blocking withdrawals until beneficiary information is confirmed, increasing from 2.9% in 2024 to 15.4% now. Additionally, about 20% of VASPs return deposits if originator data is missing.
• UN claims Bitcoin mining is a "powerful tool" for money laundering. The Rage's analysis suggests that the recent United Nations Office on Drugs and Crime report on crime in South-East Asia makes little sense and hints at the potential introduction of Anti-Money Laundering (AML) measures at the mining level.
• Riot Platforms has obtained a $100 million credit facility from Coinbase Credit, using bitcoin as collateral for short-term funding to support its expansion. The firm's CEO, Jason Les, stated that this facility is crucial for diversifying financing sources and driving long-term stockholder value through strategic growth initiatives.
• Bitdeer raises $179M in loans and equity amid Bitcoin chip push. The Miner Mag reports that Bitdeer entered into a loan agreement with its affiliate Matrixport for up to $200 million in April, as disclosed in its annual report filed on Monday.
• Federal Reserve retracts guidance discouraging banks from engaging in 'crypto.' The U.S. Federal Reserve withdrew guidance that discouraged banks from crypto and stablecoin activities, as announced by its Board of Governors on Thursday. This includes rescinding a 2022 supervisory letter requiring prior notification of crypto activities and 2023 stablecoin requirements.

"As a result, the Board will no longer expect banks to provide notification and will instead monitor banks' crypto-asset activities through the normal supervisory process," reads the FED statement.

• UAE-based Islamic bank ruya launches Shari’ah-compliant bitcoin investing. The bank has become the world’s first Islamic bank to provide direct access to virtual asset investments, including Bitcoin, via its mobile app, per Bitcoin Magazine.
• U.S. 'crypto' scam losses amounted to $9.3B in 2024. The US The Federal Bureau of Investigation (FBI) has reported $9.3 billion losses in cryptocurrency-related scams in 2024, noting a troubling trend of scams targeting older Americans, which accounted for over $2.8 billion of those losses.

Source: FBI.

• North Korean hackers establish fake companies to target 'crypto' developers. Silent Push researchers reported that hackers linked to the Lazarus Group created three shell companies, two of which are based in the U.S., with the objective of spreading malware through deceptive job interview scams aimed at individuals seeking jobs in cryptocurrency companies.
• Citrea deployed its Clementine Bridge on the Bitcoin testnet. The bridge utilizes the BitVM2 programming language to inherit validity from Bitcoin, allegedly providing "the safest and most trust-minimized way to use BTC in decentralized finance."
• Hesperides University offers a Master’s degree in Bitcoin. Bitcoin Magazine reports the launch of the first-ever Spanish-language Master’s program dedicated exclusively to Bitcoin. Starting April 28, 2025, this fully online program will equip professionals with technical, economic, legal, and philosophical skills to excel in the Bitcoin era.
• BTC in D.C. event is set to take place on September 30 - October 1 in Washington, D.C. Learn more about this initiative here.

Use the tools

• Bitcoin Keeper just got a new look. Version 2.2.0 of the mobile multisig app brought a new branding design, along with a Keeper Private tier, testnet support, ability to import and export BIP-329 labels, and the option to use a Server Key with multiple users.
  • Earlier this month the project also announced Keeper Learn service, offering clear and guided Bitcoin learning sessions for both groups and individuals.
• Keeper Desktop v0.2.2, a companion desktop app for Bitcoin Keeper mobile app, received a renewed branding update, too.

The evolution of Bitcoin Keeper logo. Source: BitHyve blog.

• Blockstream Green Desktop v2.0.25 updates GDK to v0.75.1 and fixes amount parsing issues when switching from fiat denomination to Liquid asset.
• Lightning Loop v0.31.0-beta enhances the loop listswaps command by improving the ability to filter the response.
• Lightning-kmp v1.10.0, an implementation of the Lightning Network in Kotlin, is now available.
• LND v0.19.0-beta.rc3, the latest beta release candidate of LND is now ready for testing.
• ZEUS v0.11.0-alpha2 is now available for testing, too. It's nuts.
• JoinMarket Fidelity Bond Simulator helps potential JoinMarket makers evaluate their competitive position in the market based on fidelity bonds.
• UTXOscope is a text-only Bitcoin blockchain analysis tool that visualizes price dynamics using only on-chain data. The

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Technology has transformed the way we work, live , and interact with one another. From the invention of the wheel to the development of artificial intelligence, technology has continuously evolved, bringing about many significant changes in various aspects of our daily lives.

Key Aspects of Technology:

1. Communication: Technology has revolutionized communication, enabling instant connections across the globe through smartphones, social media, and messaging apps and other network connections.

2. Automation and Efficiency: Technology has increased productivity and efficiency in various industries, from manufacturing to healthcare, through automation and digital tools.

3 . Information Access: The internet has made it possible to access vast amounts of information, knowledge, and resources at our fingertips.

1. Challenges and Concerns: While technology offers numerous benefits, it also raises concerns about privacy, security, and the impact on traditional industries and social structures.

2. Innovation and Creativity: Technology has enabled new forms of creativity, innovation, and entrepreneurship, driving economic growth and development.

The Future of Technology:

As technology continues to advance, we can expect even more significant changes in the way we live and work. Emerging technologies like artificial intelligence, blockchain, and the Internet of Things (IoT) hold great promise for transforming industries and improving lives.

By understanding the evolution and impact of technology, we can harness its potential to create a better future for all.

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(and that's the highest ever outside the covid era)

https://www.federalreserve.gov/consumerscommunities/sheddataviz/emergency-savings.html

https://stacker.news/items/991909

@ dfa02707:41ca50e3

Contribute to keep No Bullshit Bitcoin news going.

News

• Spiral welcomes Ben Carman. The developer will work on the LDK server and a new SDK designed to simplify the onboarding process for new self-custodial Bitcoin users.
• Spiral renews support for Dan Gould and Joschisan. The organization has renewed support for Dan Gould, who is developing the Payjoin Dev Kit (PDK), and Joschisan, a Fedimint developer focused on simplifying federations.
• The Bitcoin Dev Kit Foundation announced new corporate members for 2025, including AnchorWatch, CleanSpark, and Proton Foundation. The annual dues from these corporate members fund the small team of open-source developers responsible for maintaining the core BDK libraries and related free and open-source software (FOSS) projects.
• The European Central Bank is pushing for amendments to the European Union's Markets in Crypto Assets legislation (MiCA), just months after its implementation. According to Politico's report on Tuesday, the ECB is concerned that U.S. support for cryptocurrency, particularly stablecoins, could cause economic harm to the 27-nation bloc.
• Slovenia is considering a 25% capital gains tax on Bitcoin profits for individuals. The Ministry of Finance has proposed legislation to impose this tax on gains from cryptocurrency transactions, though exchanging one cryptocurrency for another would remain exempt. At present, individual 'crypto' traders in Slovenia are not taxed.
• The Virtual Asset Service Providers (VASP) Bill 2025 introduced in Kenya. The new legislation aims to establish a comprehensive legal framework for licensing, regulating, and supervising virtual asset service providers (VASPs), with strict penalties for non-compliant entities.
• Circle, BitGo, Coinbase, and Paxos plan to apply for U.S. bank charters or licenses. According to a report in The Wall Street Journal, major crypto companies are planning to apply for U.S. bank charters or licenses. These firms are pursuing limited licenses that would permit them to issue stablecoins, as the U.S. Congress deliberates on legislation mandating licensing for stablecoin issuers.

"Established banks, like Bank of America, are hoping to amend the current drafts of [stablecoin] legislation in such a way that nonbanks are more heavily restricted from issuing stablecoins," people familiar with the matter told The Block.

• Paul Atkins has officially assumed the role of the 34th Chairman of the US Securities and Exchange Commission (SEC). This is a return to the agency for Atkins, who previously served as an SEC Commissioner from 2002 to 2008 under the George W. Bush administration. He has committed to advancing the SEC’s mission of fostering capital formation, safeguarding investors, and ensuring fair and efficient markets.
• Federal Reserve retracts guidance discouraging banks from engaging in 'crypto.' The U.S. Federal Reserve withdrew guidance that discouraged banks from crypto and stablecoin activities, as announced by its Board of Governors on Thursday. This includes rescinding a 2022 supervisory letter requiring prior notification of crypto activities and 2023 stablecoin requirements.

"As a result, the Board will no longer expect banks to provide notification and will instead monitor banks' crypto-asset activities through the normal supervisory process," reads the FED statement.

• Russian government to launch a cryptocurrency exchange. The country's Ministry of Finance and Central Bank announced plans to establish a trading platform for "highly qualified investors" that "will legalize crypto assets and bring crypto operations out of the shadows."
• Twenty One Capital is set to launch with over 42,000 BTC in its treasury. This new Bitcoin-native firm, backed by Tether and SoftBank, is planned to go public via a SPAC merger with Cantor Equity Partners and will be led by Jack Mallers, co-founder and CEO of Strike. According to a report by the Financial Times, the company aims to replicate the model of Michael Saylor with his company, MicroStrategy.
• Strategy increases Bitcoin holdings to 538,200 BTC. In the latest purchase, the company has spent more than $555M to buy 6,556 coins through proceeds of two at-the-market stock offering programs.
• Metaplanet buys another 145 BTC. The Tokyo-listed company has purchased an additional 145 BTC for $13.6 million. Their total bitcoin holdings now stand at 5,000 coins, worth around $428.1 million.
• Semler Scientific has increased its bitcoin holdings to 3,303 BTC. The company acquired an additional 111 BTC at an average price of $90,124. The purchase was funded through proceeds from an at-the-market offering and cash reserves, as stated in a press release.
• Tesla still holds nearly $1 billion in bitcoin. According to the automaker's latest earnings report, the firm reported digital asset holdings worth $951 million as of March 31.
• Spar supermarket experiments with Bitcoin payments in Zug, Switzerland. The store has introduced a new payment method powered by the Lightning Network. The implementation was facilitated by DFX Swiss, a service that supports seamless conversions between bitcoin and legacy currencies.

• Charles Schwab to launch spot Bitcoin trading by 2026. The financial investment firm, managing over $10 trillion in assets, has revealed plans to introduce spot Bitcoin trading for its clients within the next year.
• Arch Labs has secured $13 million to develop "ArchVM" and integrate smart-contract functionality with Bitcoin. The funding round, valuing the company at $200 million, was led by Pantera Capital, as announced on Tuesday.
• Citrea deployed its Clementine Bridge on the Bitcoin testnet. The bridge utilizes the BitVM2 programming language to inherit validity from Bitcoin, allegedly providing "the safest and most trust-minimized way to use BTC in decentralized finance."
• UAE-based Islamic bank ruya launches Shari’ah-compliant bitcoin investing. The bank has become the world’s first Islamic bank to provide direct access to virtual asset investments, including Bitcoin, via its mobile app, per Bitcoin Magazine.
• Solosatoshi.com has sold over 10,000 open-source miners, adding more than 10 PH of hashpower to the Bitcoin network.

"Thank you, Bitaxe community. OSMU developers, your brilliance built this. Supporters, your belief drives us. Customers, your trust powers 10,000+ miners and 10PH globally. Together, we’re decentralizing Bitcoin’s future. Last but certainly not least, thank you@skot9000 for not only creating a freedom tool, but instilling the idea into thousands of people, that Bitcoin mining can be for everyone again," said the firm on X.

• OCEAN's DATUM has found 100 blocks. "Over 65% of OCEAN’s miners are using DATUM, and that number is growing every day. This means block template construction is making its way back into the hands of the miners, which is not only the most profitable

@ fbf0e434:e1be6a39

Hackathon 概述

ETH Dublin 2025 黑客松圆满落幕，活动共吸引 84 名开发者参与，共有 31 个项目通过审核。活动核心是借助多家赞助商技术，打造具有影响力的区块链解决方案。活动鼓励参与者组建技能多元的平衡团队，运用技术工具及赞助商支持 —— 如 Chainlink 进行数据验证、Ledger 保障安全、Filecoin 提供存储方案等。

多个项目聚焦社会影响领域：ÉireEncrypt 致力于开发符合 GDPR 合规要求的隐私保护区块链工具；SafeRoads Ireland 则通过智能合约推动安全驾驶。此外，部分项目借助以太坊实现租金管控与去中心化住房市场，还有以移民为主题的数字解决方案促进社区融合，充分展现区块链技术在解决隐私保护、公共安全、教育改革等实际问题中的潜力。

总体而言，ETH Dublin 2025 黑客松不仅促进了开发者与合作伙伴的协作，更激发了诸多借助区块链技术创造社会价值的创新项目。

Hackathon 获奖者

奖项得主

• 一等奖: RecEth
  RecEth 通过提供电子邮件确认和清晰的收据，增强了用户对加密交易的信任，将用户体验与传统支付系统的透明度相对齐。
• 二等奖: Latinum
  Latinum 作为支付中间件，允许MCP构建者通过兼容钱包实现由代理发起的交易来实现服务器货币化，简化了货币化过程。
• 三等奖: Fundraisely
  FundRaisely 利用区块链技术帮助慈善机构进行合法合规的筹款，以及透明的审计，确保捐款流程的清晰和负责。

欲了解所有项目的更多信息，请访问这里。

关于组织者

ETH Ireland

ETH Ireland 致力于区块链技术的创新和发展。该组织在Ethereum方面有着丰富的专业知识，通过举办会议和工作坊促进区块链教育和社区参与。ETH Ireland 的使命是扩大区块链知识普及，推广去中心化技术到各个领域。

@ dfa02707:41ca50e3

Contribute to keep No Bullshit Bitcoin news going.

• RoboSats v0.7.7-alpha is now available!

NOTE: "This version of clients is not compatible with older versions of coordinators. Coordinators must upgrade first, make sure you don't upgrade your client while this is marked as pre-release."

• This version brings a new and improved coordinators view with reviews signed both by the robot and the coordinator, adds market price sources in coordinator profiles, shows a correct warning for canceling non-taken orders after a payment attempt, adds Uzbek sum currency, and includes package library updates for coordinators.

Source: RoboSats.

• siggy47 is writing daily RoboSats activity reviews on stacker.news. Check them out here.
• Stay up-to-date with RoboSats on Nostr.

What's new

• New coordinators view (see the picture above).
• Available coordinator reviews signed by both the robot and the coordinator.
• Coordinators now display market price sources in their profiles.

Source: RoboSats.

• Fix for wrong message on cancel button when taking an order. Users are now warned if they try to cancel a non taken order after a payment attempt.
• Uzbek sum currency now available.
• For coordinators: library updates.
• Add docker frontend (#1861).
• Add order review token (#1869).
• Add UZS migration (#1875).
• Fixed tests review (#1878).
• Nostr pubkey for Robot (#1887).

New contributors

• @hexlorn made their first contribution in #1858.
• @umk0m1qk made their first contribution in #1864.

Full Changelog: v0.7.6-alpha...v0.7.7-alpha

GitHub Repo

@ dfa02707:41ca50e3

Contribute to keep No Bullshit Bitcoin news going.

• Wasabi Wallet v2.6.0 "Prometheus" is a major update for the project, focused on resilience and independence from centralized systems.
• Key features include support for BIP 158 block filters for direct node synchronization, a revamped full node integration for easier setup without third-party reliance, SLIP 39 share backups for flexible wallet recovery (sponsored by Trezor), and a Nostr-based update manager for censorship-resistant updates.
• Additional improvements include UI bug fixes, a new fallback for transaction broadcasting, updated code signing, stricter JSON serialization, and options to avoid third-party rate providers, alongside various under-the-hood enhancements.

This new version brings us closer to our ultimate goal: ensuring Wasabi is future-proof," said the developers, while also highlighting the following key areas of focus for the project:

• Ensuring users can always fully and securely use their client.
• Making contribution and forks easy through a codebase of the highest quality possible: understandable, maintainable, and improvable.

"As we achieve our survival goals, expect more cutting-edge improvements in Bitcoin privacy and self-custody. Thank you for the trust you place in us by using Wasabi," was stated in the release notes.

What's new

• Support for Standard BIP 158 Block Filters. Wasabi now syncs using BIP 158 filters without a backend/indexer, connecting directly to a user's node. This boosts sync speed, resilience, and allows full sovereignty without specific server dependency.
• Full Node Integration Rework. The old integration has been replaced with a simpler, more adaptable system. It’s not tied to a specific Bitcoin node fork, doesn’t need the node on the same machine as Wasabi, and requires no changes to the node’s setup.
  • "Simply enable the RPC server on your node and point Wasabi to it," said the developers. This ensures all Bitcoin network activities—like retrieving blocks, fee estimations, block filters, and transaction broadcasting—go through your own node, avoiding reliance on third parties.
• Create & Recover SLIP 39 Shares. Users now create and recover wallets with multiple share backups using SLIP 39 standard.

"Special thanks to Trezor (SatoshiLabs) for sponsoring this amazing feature."

• Nostr Update Manager. This version implements a pioneering system with the Nostr protocol for update information and downloads, replacing reliance on GitHub. This enhances the project's resilience, ensuring updates even if GitHub is unavailable, while still verifying updates with the project's secure certificate.
• Updated Avalonia to v11.2.7, fixes for UI bugs (including restoring Minimize on macOS Sequoia).
• Added a configurable third-party fallback for broadcasting transactions if other methods fail.
• Replaced Windows Code Signing Certificate with Azure Trusted Signing.
• Many bug fixes, improved codebase, and enhanced CI pipeline.
• Added the option to avoid using any third-party Exchange Rate and Fee Rate providers (Wasabi can work without them).
• Rebuilt all JSON Serialization mechanisms avoiding default .NET converters. Serialization is now stricter.

Full Changelog: v2.5.1...v2.6.0

Announcement / Archive
GitHub Repo

@ dfa02707:41ca50e3

Contribute to keep No Bullshit Bitcoin news going.

• "Today we're launching the beta version of our multiplatform Nostr browser! Think Google Chrome but for Nostr apps. The beta is our big first step toward this vision," announced Damus.
• This version comes with the Dave Nostr AI assistant, support for zaps and the Nostr Wallet Connect (NWC) wallet interface, full-text note search, GIFs and fullscreen images, multiple media uploads, user tagging, relay list and mute list support, along with a number of other improvements."

"Included in the beta is the Dave, the Nostr AI assistant (its Grok for Nostr). Dave is a new Notedeck browser app that can search and summarize notes from the network. For a full breakdown of everything new, check out our beta launch video."

What's new

• Dave Nostr AI assistant app.
• GIFs.
• Fulltext note search.
• Add full screen images, add zoom, and pan.
• Zaps! NWC/ Wallet UI.
• Introduce last note per pubkey feed (experimental).
• Allow multiple media uploads per selection.
• Major Android improvements (still WIP).
• Added notedeck app sidebar.
• User Tagging.
• Note truncation.
• Local network note broadcast, broadcast notes to other notedeck notes while you're offline.
• Mute list support (reading).
• Relay list support.
• Ctrl-enter to send notes.
• Added relay indexing (relay columns soon).
• Click hashtags to open hashtag timeline.
• Fixed timelines sometimes not updating (stale feeds).
• Fixed UI bounciness when loading profile pictures
• Fixed unselectable post replies.

Announcement / Archive
GitHub Repo
Website

@ 8bad92c3:ca714aa5

Key Takeaways

In this episode, Bram Kanstein delivers a powerful exploration of how studying money for thousands of hours led him to a single, life-changing conclusion: Bitcoin is the key to preserving value and reclaiming personal agency in an increasingly unstable world. Through the lens of a disillusioned millennial generation—raised with technological optimism but betrayed by economic reality—Bram exposes the fiat system as one built on illusion, debt, and diminishing returns. He explains how Bitcoin’s transparent, rule-based design offers a principled alternative, especially for those wired to question systems and seek truth. Describing the fiat economy as a “high-velocity trash system” that undermines innovation and long-term planning, he argues Bitcoin creates the time and space to think, build, and live freely. As AI reshapes the labor market, Bram sees Bitcoin as a vital foundation for individuals to adapt, maintain sovereignty, and thrive in a future defined by rapid technological disruption.

Best Quotes

“Anything that you would want to fix in the world is broken because the money is broken.”

“You’re stacking nothing. Literal paper.”

“You have to red pill before you orange pill.”

“The only thing you need to do is move to the other money that they cannot mess with.”

“One Bitcoin is one Bitcoin. That’s the whole point.”

“Millennials are primed to understand Bitcoin.”

“Bitcoin lets you get out of the rat race and start walking your own path.”

“The fiat mindset is a zero-sum game. In Bitcoin, value is created.”

“We should stop asking how to value Bitcoin—and start asking how to value everything else in Bitcoin.”

“Even with a master’s in economics, people still don’t understand what money is.”

Conclusion

This episode delivers a powerful call to rethink everything we assume about money, arguing that understanding Bitcoin is less about profit and more about reclaiming personal agency in a world defined by uncertainty. Bram Kanstein shows how asking fundamental questions—like “What is money?”—can lead to a deeper sense of purpose and autonomy. As AI and systemic instability accelerate, Bitcoin emerges not just as sound money, but as a life tool for intentional living, long-term thinking, and individual sovereignty.

Timestamps

0:00 - Intro
0:36 - INTJ bitcoiners
4:58 - The millennial headspace is primed for bitcoin
7:25 - Bitcoin gives time and space to build
15:29 - Fold & Bitkey
17:05 - Seeing systemic problems
26:25 - Bitcoin’s positive feedback loop
33:55 - Recognize your agency
37:58 - Unchained
38:27 - Fiat money creates uncertainty
44:41 - What is money?
54:04 - Money and energy
1:03:43 - Bitcoin allows growth
1:09:02 - Bitcoin/AI
1:31:34 - Optimistic note

Transcript

(00:00) Let's say you're a millennial and mid-30s and you want to retire in 30 years. If you calculate the amount of dollar, pound the euro, yen units. You need way more units of that money than you think right now. They are funding pension funds, but the pension funds are using that money for the people that are actually retiring.
(00:17) No one knows about money. They don't know how debt works, how finance works. But that's kind of how it's designed, right? Like that's what eventually keeps the Ponzi alive. And I just started with the question, what do you think happens if you call the bank and say like, hey, can I get 100 or 200k in cash? Man, you got an editor like in house.
(00:39) That's That's pro. That's uh it's because this setup I'm so far away from the computer. I just need somebody to hit the button. Okay. Okay. the extent the extent of of Logan's job extends far beyond just hitting the button. But yeah, INTJ I think uh I think it was as we rear into what looks to be another bull market.
(01:05) I think getting back to first principles and discussing the challenges of studying and understanding Bitcoin, it's important to to highlight the archetype of individuals who have studied fallen down the rabbit hole and really dedicated their lives to Bitcoin. And this INTJ cohort that exists within Bitcoin seems pretty material apparently. Yeah.
(01:35) I mean, I have many moments where I just realize that I'm lucky that my brain is wired in a certain way, you know. I feel like crazy blessed that I figured out this Bitcoin thing, you know, and that when I ran into certain realizations along the way in my Bitcoin journey that I was like, hm, you know, how does this actually work? you know, do I actually understand the systems I'm participating in, the things that I believe, you know, the the the the people that I abstracted um or or outsourced certain responsibilities to to take care of, for example, my money
(02:10) in the bank. You know, I I think um being wired in a certain way definitely helps in grasping Bitcoin to a degree where you're like, okay, this is the only thing I need to pay attention to, you know, in my life. And yeah, we we jokingly started talking about this because I have the hat here, but there was this um I think it was like like a Twitter poll actually or someone shared it on Twitter and this is already like two or three years old where where someone investigated these MyersBriggs um personality types and I think there's
(02:42) only like 2% of people that have INTJ but like 20% of Bitcoiners have that personality type. So it um it apparently helps. So yeah, I just I just quickly Googled it actually. It says uh the INTJ is the architect. It's a personality type with the introverted intuitive thinking and judging traits. These thoughtful tacticians love perfecting the details of life, applying creativity and rationality to everything they do.
(03:09) I think the rationality part here is what um what uh I think helps you to to gro Bitcoin eventually. Yeah, it reminds me of I forget what the study was, but postco it was a similar distribution of just like 2% of people were highly skeptical of what was going on with the lockdowns and the attack on bodily autonomy.
(03:38) And there was a study that was done about I forget it was bees or some type of fly that they they have like the horde of um the horde of the particular fly I think it was bees has like 2% act as these sort of alarm bells that are on the outside the outskirts of the community and they'll start communicating like hey something's wrong here and people the other flies or bees will be skeptical at first but then eventually uh the alarm bells will be proven to be right that there was some sort of danger around the corner. That's fascinating.
(04:09) Yeah. Yeah, that's fascinating. I I think we're not that special eventually, you know, like we think we have all this autonomy, but but um yeah, we're we're just wired in a certain way. And I think I don't know where you want to take this conversation, but I think, you know, part of growing up and being an adult is figuring out, you know, how do I actually work and how do I work with how I work, you know? Yeah. No, it is.
(04:36) And as I get older, creep into my mid-30s, which is hard hard to come to grips with, it is uh really falling back on like, all right, I I feel like I have a good perspective on the world and my place in it, and how do I just optimize to make sure I'm aligning my my work and my career, I guess, if you call it that, with what I'm passionate about. Yeah.
(05:00) Well, I also think that is actually why our generation, you know, my my podcast is Bitcoin for millennials. I think uh the millennials are primed to understand Bitcoin. You know, we are in this life phase where big things happen, you know, starting a family or settling somewhere or or making big career moves or decide Yeah.
(05:25) like deciding what am I going to spend like the next 10 20 years on and uh I think it's an interesting phase actually I I don't know how that was for you but but for me like the the 30s were really where I dove more and more into Bitcoin like got got that stronger conviction and also yeah kind of was invited to go further down that that rabbit hole you know and like how I see it now is that that Bitcoin is really the foundation for the rest of my life, you know, like it it gives me time and space to look forward and enthusiasm, you know, like I sometimes lurk on the
(06:01) millennial subreddit, you know, or the finance sub subreddit. And many people in our generation are very nihilistic, you know, they're very unsure about the future. Like some people aren't even having kids because they think they cannot afford it, you know. And uh whenever I read that, I just think like, yeah, I I don't really have those things.
(06:22) But I know it's because of Bitcoin, you know. I I know that Bitcoin gives me, yeah, like I said, the time and space to figure out what's next, like what should I focus on? Like it gives time and space to to try out stuff, to build something, you know, to to to really attempt at at doing something. Where I see many people that don't see that, they are more in the consumer type, you know, like they they just spend the money that's worth the most today, you know, like that's what they're incentivized to do. Yeah.
(06:49) And is is that why you started Bitcoin for millennials is to number one put the put the message out there. Millennials come listen to this. One of you Yes. that is trying to educate you about this. But because this is something I think about a lot is somebody's like dead smack in the middle of the millennial generation and has observed many of the things you just described in my own life, my own network.
(07:13) And that's part of the reason why this podcast exists. And um what I'm trying to do at TFTC is just try to figure out a way to reach into the minds of millennials, hopefully c

@ 7e538978:a5987ab6

This article gives an overview and comparison of the various funding sources that are available for LNbits.

LNbits is compatible with many Lightning Network wallets and can be on anything from a small VPS to a raspberry Pi on your home network or the LNbits SaaS platform.

Why your funding source matters

There are trade-offs between the various funding sources, for example funding LNbits using Strike requires the user to KYC themselves and has some privacy compromises versus funding LNbits from your own LND node. However the technical barrier to entry and node maintenance of using Strike is lower than using LND.

Self-custodial vs custodial connectors

Self-custodial Funding Sources

You run the node or service, keep the keys, and may need to manage LN channels. Good if you want control and have the skills to look after a server. Examples: LND (gRPC/REST), CoreLightning, Spark.

Self-custodial funding sources with an LSP

These funding sources offer a reasonable compromise between self-custody and some privacy trade offs. Examples: Phoenixd, Breez SDK, Boltz.

Custodial (or semi-custodial) funding sources

A third party runs the node. You plug LNbits into their API. Setup is quick and costs are low, but you trust the provider with your funds and privacy. Examples: Alby, OpenNode, Blink, ZBD, LNPay or another LNbits instance.

Funding sources compared

Below is a summary of the main options and how they stack up.

LNbits Lightning Network Funding Sources Comparison Table

| Funding Source | Custodial Type | KYC Required | Technical Knowledge Needed | Node Hosting Required | Privacy Level | Liquidity Management | Ease of Setup | Maintenance Effort | Cost Implications | Scalability | Notes | |----------------------------|--------------------|---------------------|--------------------------------|---------------------------|-------------------|--------------------------|-------------------|------------------------|----------------------------------------------|-----------------|------------------------------------------------------------------| | LND (gRPC) | Self-custodial | ❌ | Higher | ✅ | High | Manual | Moderate | High | Infrastructure cost and channel opening fees | High | gRPC interface for LND; suitable for advanced integrations. | | CoreLightning (CLN) | Self-custodial | ❌ | Higher | ✅ | High | Manual | Moderate | High | Infrastructure cost and channel opening fees | High | Requires setting up and managing your own CLN node. | | Phoenixd | Self-custodial | ❌ | Medium | ❌ | Medium | Automatic | Moderate | Low | Minimal fees | Medium | Mobile wallet backend; suitable for mobile integrations. | | Nostr Wallet Connect (NWC) | Custodial | Depends on provider | Low | ❌ | Variable | Provider-managed | Easy | Low | May incur fees | Medium | Connects via Nostr protocol; depends on provider's policies. | | Boltz | Self-custodial | ❌ | Medium | ❌ | Medium | Provider-managed | Moderate | Moderate | Minimal fees | Medium | Uses submarine swaps; connects to Boltz client. | | LND (REST) | Self-custodial | ❌ | Higher | ✅ | High | Manual | Moderate | High | Infrastructure cost and channel opening fees | High | REST interface for LND; suitable for web integrations. | | CoreLightning REST | Self-custodial | ❌ | Higher | ✅ | High | Manual | Moderate | High | Infrastructure cost and channel opening fees | High | REST interface for CLN; suitable for web integrations. | | LNbits (another instance) | Custodial | Depends on host | Low | ❌ | Variable | Provider-managed | Easy | Low | May incur hosting fees | Medium | Connects to another LNbits instance; depends on host's policies. | | Alby | Custodial | ✅ | Low | ❌ | Low | Provider-managed | Easy | Low | Transaction fees apply | Medium | Browser extension wallet; suitable for web users. | | Breez SDK | Self-custodial | ❌ | Medium | ❌ | High | Automatic | Moderate | Low | Minimal fees | Medium | SDK for integrating Breez wallet functionalities. | | OpenNode | Custodial | ✅ | Low | ❌ | Low | Provider-managed | Easy | Low | Transaction fees apply | Medium | Third-party service; suitable for merchants. | | Blink | Custodial | ✅ | Low | ❌ | Low | Provider-managed | Easy | Low | Transaction fees apply | Medium | Third-party service; focuses on mobile integrations. | | ZBD | Custodial | ✅ | Low | ❌ | Low | Provider-managed | Easy | Low | Transaction fees apply | Medium | Gaming-focused payment platform. | | Spark (CLN) | Self-custodial | ❌ | Higher | ✅ | High | Manual | Moderate | High | Infrastructure cost and channel opening fees | High | Web interface for CLN; requires Spark server setup. | | Cliche Wallet | Self-custodial | ❌ | Medium | ❌ | Medium | Manual | Moderate | Moderate | Minimal fees | Medium | Lightweight wallet; suitable for embedded systems. | | Strike | Custodial | ✅ | Low | ❌ | Low | Provider-managed | Easy | Low | Transaction fees apply | Medium | Third-party service; suitable for quick setups. | | LNPay | Custodial | ✅ | Low | ❌ | Low | Provider-managed | Easy | Low | Transaction fees apply | Medium | Third-party service; suitable for quick setups. |

Which source suits you?

| Scenario | Good fit | Why | | ------------------------------------------- | ---------------------------------------------------------------------- | ------------------------------------------------------ | | Business running its own infrastructure | LND or CoreLightning on a Dell Optiplex or other dedicated machine | Full control, high throughput, best privacy. | | Independent node runner | Spark (CLN) or LND (REST/gRPC) | You already run a node and want a clean web interface. | | Quick proof of concept | Alby, LNPay, or another hosted LNbits | No hardware needed, lets you test ideas fast. |

Run LNbits

Ready to run LNbits?

Choose a funding source, follow the guides, and start today.

LNbits

Further reading

• LNbits documentation
• LND – gRPC and REST guides
• CoreLightning – setup and Spark info
• Breez SDK
• Phoenixd
• Nostr Wallet Connect

@ 5f078e90:b2bacaa3

Frog named Gus

This is a test from Hive to Nostr, longform script, some markdown included. google link, 400 char. story.

In a lush pond, a green frog named Gus lived among lily pads. Each dawn, he croaked a cheerful tune, waking the dragonflies. One day, a heron eyed him hungrily. Gus, clever and quick, hopped beneath a broad leaf, blending perfectly. The heron, fooled, flew off. That evening, Gus sang louder, celebrating his escape. His friends—turtles and minnows—joined the chorus under the moon's glow. Gus’s courage inspired them all, proving wit outshines size. The pond thrived, with Gus as its spirited guardian, forever hopping and croaking in joy.

This was a test, please ignore.

@ 5f078e90:b2bacaa3

May 29 badger test story

h2n, bi, some md, >380

In a dusty savanna, a honey badger named Hank prowled with fearless grit. Each night, he raided beehives, dodging stings with cunning twists. One day, a lion blocked his path, roaring fiercely. Hank, unfazed, bared his teeth and charged, startling the beast. The lion fled, and Hank strutted on, claws clicking. His boldness rallied jackals and birds, who sang his tale under starry skies. Hank’s fierce heart made him the savanna’s legend, guarding its wild spirit with every fearless step.

This is just a test, please ignore.

@ dfa02707:41ca50e3

Contribute to keep No Bullshit Bitcoin news going.

• Version 1.3 of Bitcoin Safe introduces a redesigned interactive chart, quick receive feature, updated icons, a mempool preview window, support for Child Pays For Parent (CPFP) and testnet4, preconfigured testnet demo wallets, as well as various bug fixes and improvements.

• Upcoming updates for Bitcoin Safe include Compact Block Filters.

"Compact Block Filters increase the network privacy dramatically, since you're not asking an electrum server to give you your transactions. They are a little slower than electrum servers. For a savings wallet like Bitcoin Safe this should be OK," writes the project's developer Andreas Griffin.

• Learn more about the current and upcoming features of Bitcoin Safe wallet here.

What's new in v1.3

• Redesign of Chart, Quick Receive, Icons, and Mempool Preview (by @design-rrr).
• Interactive chart. Clicking on it now jumps to transaction, and selected transactions are now highlighted.

• Speed up transactions with Child Pays For Parent (CPFP).
• BDK 1.2 (upgraded from 0.32).
• Testnet4 support.
• Preconfigured Testnet demo wallets.
• Cluster unconfirmed transactions so that parents/children are next to each other.
• Customizable columns for all tables (optional view: Txid, Address index, and more)
• Bug fixes and other improvements.

Announcement / Archive
Blog Post / Archive
GitHub Repo
Website

@ 9ca447d2:fbf5a36d

When making critical decisions about investments, company acquisitions, or capital deployment, organizations rely on a fundamental tool: the hurdle rate. This is the minimum rate of return that a project or investment must achieve to be considered viable by managers or investors. 

The hurdle rate is not just a number — it’s a filter that separates promising opportunities from those that don’t justify the risk.

It acts as a crucial benchmark. If the expected return on an investment falls below the hurdle rate, that opportunity is typically rejected.

Setting this rate involves a careful consideration of several factors, including the company’s cost of capital, specific risk profile, inflation rates, and opportunity cost of allocating resources elsewhere.

In essence, the hurdle rate ensures that only projects with the potential to create real value move forward.

Bitcoin has emerged as a disruptive and compelling candidate for a new kind of hurdle rate in capital allocation. Its unique properties challenge the conventions of traditional finance and invite a new thought pattern of what’s considered an appropriate benchmark. 

Bitcoin’s fixed supply (capped at 21 million), and its decentralized, borderless nature makes it fundamentally resistant to inflation and debasement, unlike fiat currencies that can be printed at will by central banks.

Here’s the real question for investors and fund managers: if your portfolio or fund consistently fails to outperform bitcoin, at what point do you simply start allocating to bitcoin instead?

This isn’t rocket science. Over the past decade, bitcoin has not only outperformed traditional assets, but has also redefined what investors should expect as a minimum acceptable rate.

Asset classes comparison since 2013 — Seeking Alpha

The numbers speak for themselves.

From 2013-2023, bitcoin delivered the highest annual return in 8 out of those 11 years. This is not a fluke or a bubble, it’s a decade-long trend that demands attention from anyone serious about capital growth.

Typically, most investment managers use the S&P 500 as their benchmark hurdle rate. Will their potential investment generate more return than the S&P? If not, it’s usually dismissed. 

Since 1970, the S&P 500 has provided an average annual return of 10.66%. Investment managers routinely reject ideas that can’t beat this average, recognizing that anything less is not worth the risk or effort.

But what happens when we compare this to bitcoin?

Over the last 10 years, bitcoin’s average annual return has been an astonishing 49%. While it’s unlikely that this rate will persist forever, it’s impossible to ignore the magnitude and consistency of bitcoin’s outperformance. 

Bitcoin hasn’t just beat the S&P—it’s outperformed every major asset class, including gold, treasuries, real estate, commodities, and equities.

Of course, past performance isn’t a guarantee of future results. So the question becomes: can bitcoin continue to deliver, and are we ready to use it as a benchmark for investment decisions? 

To answer this, it’s essential to understand the underlying forces driving bitcoin’s price appreciation.

Several macroeconomic factors contribute to bitcoin’s rise, including money printing, economic uncertainty, and the ongoing debasement of fiat currencies.

When governments print money or run deficits, confidence in traditional currencies erodes. In such environments, investors naturally seek scarce assets, historically gold, and now increasingly bitcoin.

Consider the current fiscal reality: the United States is burdened with over $36 trillion in national debt, and there’s little indication that the money printing will stop.

This environment only strengthens the case for bitcoin as a store of value and as a benchmark for capital allocation. Bitcoin’s staying power is becoming undeniable.

Those who fail to adapt, risk being left behind. We’re already witnessing the early stages of institutional and corporate adoption, and it’s only a matter of time before bitcoin becomes a standard reference point for hurdle rates across the investment world.

Visionary leaders like Michael Saylor of Strategy, have openly discussed the challenges of outperforming the world’s top companies.

Saylor recognized that if your investment, company, or project cannot reasonably be expected to outperform bitcoin, it may be more rational to simply hold bitcoin itself.

MSTR performance compared to bitcoin, Magnificent 7 and S&P500 — aicoin

In a world where bitcoin has established itself as the premier performing asset, the message is clear: if you can’t beat bitcoin, why not join it? 

Just buy bitcoin.

@ 5f078e90:b2bacaa3

Gecky story - just a test

In a sun-dappled jungle, Zippy the gecko darted across a broad leaf, his emerald scales glinting. Chasing a juicy cricket, he leaped, only to slip into a pitcher plant’s slippery trap. With sticky toes, Zippy clung to the edge, heart racing. A curious frog peered in, offering a vine. Grateful, Zippy climbed out, sharing his cricket with his new friend. Under the moon’s glow, they danced on the leaves, tales of their adventure echoing through the jungle night.

Character count: 408

This was just a test. Ignore it.

@ b1ddb4d7:471244e7

Starting January 1, 2026, the United Kingdom will impose some of the world’s most stringent reporting requirements on cryptocurrency firms.

All platforms operating in or serving UK customers-domestic and foreign alike-must collect and disclose extensive personal and transactional data for every user, including individuals, companies, trusts, and charities. 

This regulatory drive marks the UK’s formal adoption of the OECD’s Crypto-Asset Reporting Framework (CARF), a global initiative designed to bring crypto oversight in line with traditional banking and to curb tax evasion in the rapidly expanding digital asset sector.

What Will Be Reported?

Crypto firms must gather and submit the following for each transaction:

• User’s full legal name, home address, and taxpayer identification number
• Detailed data on every trade or transfer: type of cryptocurrency, amount, and nature of the transaction
• Identifying information for corporate, trust, and charitable clients

The obligation extends to all digital asset activities, including crypto-to-crypto and crypto-to-fiat trades, and applies to both UK residents and non-residents using UK-based platforms. The first annual reports covering 2026 activity are due by May 31, 2027.

Enforcement and Penalties

Non-compliance will carry stiff financial penalties, with fines of up to £300 per user account for inaccurate or missing data-a potentially enormous liability for large exchanges. The UK government has urged crypto firms to begin collecting this information immediately to ensure operational readiness.

Regulatory Context and Market Impact

This move is part of a broader UK strategy to position itself as a global fintech hub while clamping down on fraud and illicit finance. UK Chancellor Rachel Reeves has championed these measures, stating, “Britain is open for business – but closed to fraud, abuse, and instability”. The regulatory expansion comes amid a surge in crypto adoption: the UK’s Financial Conduct Authority reported that 12% of UK adults owned crypto in 2024, up from just 4% in 2021.

Enormous Risks for Consumers: Lessons from the Coinbase Data Breach

While the new framework aims to enhance transparency and protect consumers, it also dramatically increases the volume of sensitive personal data held by crypto firms-raising the stakes for cybersecurity.

The risks are underscored by the recent high-profile breach at Coinbase, one of the world’s largest exchanges.

In May 2025, Coinbase disclosed that cybercriminals, aided by bribed offshore contractors, accessed and exfiltrated customer data including names, addresses, government IDs, and partial bank details. 

The attackers then used this information for sophisticated phishing campaigns, successfully deceiving some customers into surrendering account credentials and funds.

“While private encryption keys remained secure, sufficient customer information was exposed to enable sophisticated phishing attacks by criminals posing as Coinbase personnel.”

Coinbase now faces up to $400 million in compensation costs and has pledged to reimburse affected users, but the incident highlights the systemic vulnerability created when large troves of personal data are centralized-even if passwords and private keys are not directly compromised. The breach also triggered a notable drop in Coinbase’s share price and prompted a $20 million bounty for information leading to the attackers’ capture.

The Bottom Line

The UK’s forthcoming crypto reporting regime represents a landmark in financial regulation, promising greater transparency and tax compliance. However, as the Coinbase episode demonstrates, the aggregation of sensitive user data at scale poses a significant cybersecurity risk.

As regulators push for more oversight, the challenge will be ensuring that consumer protection does not become a double-edged sword-exposing users to new threats even as it seeks to shield them from old ones.

@ 7d33ba57:1b82db35

Lingen (Ems) is a peaceful town in Lower Saxony, near the Dutch border, known for its historic old town, green surroundings, and relaxed pace of life. It may not be on the typical tourist radar, but it offers a taste of small-town Germany with plenty of charm and local culture.

🏘️ What to See and Do in Lingen

🏛️ Old Town & Market Square

• Stroll through the historic town center, where you’ll find half-timbered houses, cozy cafés, and the lovely St. Boniface Church
• The Rathaus (Town Hall) and its square are perfect for a slow coffee or people-watching

🚲 Nature & Outdoor Activities

• The region around Lingen is great for cycling and walking, especially along the Ems River
• Explore the Emsland countryside, filled with forests, meadows, and quiet villages
• Visit the nearby Emsland Moormuseum to learn about local peatland history

🎓 Student Vibes

• Thanks to the presence of a university, Lingen has a young and vibrant side, with cultural events and small live music scenes

🍺 Local Food & Drink

• Try regional dishes like Grünkohl (kale with sausage in winter) and Schnitzel in a local tavern
• Enjoy a drink at a beer garden or riverside café, especially in warmer months

🚆 Getting There

• Well connected by train, especially to Osnabrück, Münster, and the Dutch city of Enschede
• Great stop on a northern Germany road or rail trip

Lingen is ideal for travelers looking for peaceful towns, regional culture, and access to beautiful natural areas. It’s a place where you can slow down, bike along a river, and enjoy the local way of life.

@ b1ddb4d7:471244e7

This article was originally published on aier.org

Even after eleven years experience, and a per Bitcoin price of nearly $20,000, the incredulous are still with us. I understand why. Bitcoin is not like other traditional financial assets.

Even describing it as an asset is misleading. It is not the same as a stock, as a payment system, or a money. It has features of all these but it is not identical to them.

What Bitcoin is depends on its use as a means of storing and porting value, which in turn rests of secure titles to ownership of a scarce good. Those without experience in the sector look at all of this and get frustrated that understanding why it is valuable is not so easy to grasp. 

In this article, I’m updating an analysis I wrote six years ago. It still holds up. For those who don’t want to slog through the entire article, my thesis is that Bitcoin’s value obtains from its underlying technology, which is an open-source ledger that keeps track of ownership rights and permits the transfer of these rights. Bitcoin managed to bundle its unit of account with a payment system that lives on the ledger. That’s its innovation and why it obtained a value and that value continues to rise. 

Consider the criticism offered by traditional gold advocates, who have, for decades, pushed the idea that sound money must be backed by something real, hard, and independently valuable. Bitcoin doesn’t qualify, right? Maybe it does. 

Bitcoin first emerged as a possible competitor to national, government-managed money in 2009. Satoshi Nakamoto’s white paper was released October 31, 2008. The structure and language of this paper sent the message: This currency is for computer technicians, not economists nor political pundits. The paper’s circulation was limited; novices who read it were mystified. 

But the lack of interest didn’t stop history from moving forward. Two months later, those who were paying attention saw the emergence of the “Genesis Block,” the first group of bitcoins generated through Nakamoto’s concept of a distributed ledger that lived on any computer node in the world that wanted to host it.

Here we are all these years later and a single bitcoin trades at $18,500. The currency is held and accepted by many thousands of institutions, both online and offline. Its payment system is very popular in poor countries without vast banking infrastructures but also in developed countries. And major institutions—including the Federal Reserve, the OECD, the World Bank, and major investment houses—are paying respectful attention and weaving blockchain technology into their operations.

Enthusiasts, who are found in every country, say that its exchange value will soar even more in the future because its supply is strictly limited and it provides a system vastly superior to government money. Bitcoin is transferred between individuals without a third party. It is relatively low-cost to exchange. It has a predictable supply. It is durable, fungible, and divisible: all crucial features of money. It creates a monetary system that doesn’t depend on trust and identity, much less on central banks and government. It is a new system for the digital age.

Hard lessons for hard money

To those educated in the “hard money” tradition, the whole idea has been a serious challenge. Speaking for myself, I had been reading about bitcoin for two years before I came anywhere close to understanding it. There was just something about the whole idea that bugged me. You can’t make money out of nothing, much less out of computer code. Why does it have value then? There must be something amiss. This is not how we expected money to be reformed.

There’s the problem: our expectations. We should have been paying closer attention to Ludwig von Mises’ theory of money’s origins—not to what we think he wrote, but to what he actually did write. 

In 1912, Mises released The Theory of Money and Credit. It was a huge hit in Europe when it came out in German, and it was translated into English. While covering every aspect of money, his core contribution was in tracing the value and price of money—and not just money itself—to its origins. That is, he explained how money gets its price in terms of the goods and services it obtains. He later called this process the “regression theorem,” and as it turns out, bitcoin satisfies the conditions of the theorem.

Mises’ teacher, Carl Menger, demonstrated that money itself originates from the market—not from the State and not from social contract. It emerges gradually as monetary entrepreneurs seek out an ideal form of commodity for indirect exchange. Instead of merely bartering with each other, people acquire a good not to consume, but to trade. That good becomes money, the most marketable commodity.

But Mises added that the value of money traces backward in time to its value as a bartered commodity. Mises said that this is the only way money can have value.

The theory of the value of money as such can trace back the objective exchange value of money only to that point where it ceases to be the value of money and becomes merely the value of a commodity…. If in this way we continually go farther and farther back we must eventually arrive at a point where we no longer find any component in the objective exchange value of money that arises from valuations based on the function of money as a common medium of exchange; where the value of money is nothing other than the value of an object that is useful in some other way than as money…. Before it was usual to acquire goods in the market, not for personal consumption, but simply in order to exchange them again for the goods that were really wanted, each individual commodity was only accredited with that value given by the subjective valuations based on its direct utility.

Mises’ explanation solved a major problem that had long mystified economists. It is a narrative of conjectural history, and yet it makes perfect sense. Would salt have become money had it otherwise been completely useless? Would beaver pelts have obtained monetary value had they not been useful for clothing? Would silver or gold have had money value if they had no value as commodities first? The answer in all cases of monetary history is clearly no. The initial value of money, before it becomes widely traded as money, originates in its direct utility. It’s an explanation that is demonstrated through historical reconstruction. That’s Mises’ regression theorem.

Bitcoin’s Use Value

At first glance, bitcoin would seem to be an exception. You can’t use a bitcoin for anything other than money. It can’t be worn as jewelry. You can’t make a machine out of it. You can’t eat it or even decorate with it. Its value is only realized as a unit that facilitates indirect exchange. And yet, bitcoin already is money. It’s used every day. You can see the exchanges in real time. It’s not a myth. It’s the real deal.

It might seem like we have to choose. Is Mises wrong? Maybe we have to toss out his whole theory. Or maybe his point was purely historical and doesn’t apply in the future of a digital age. Or maybe his regression theorem is proof that bitcoin is just an empty mania with no staying power, because it can’t be reduced to its value as a useful commodity.

And yet, you don’t have to resort to complicated monetary theory in order to understand the sense of alarm surrounding bitcoin. Many people, as I did, just have a feeling of uneasiness about a money that has no basis in anything physical. Sure, you can print out a bitcoin on a piece of paper, but having a paper with a QR code or a public key is not enough to relieve that sense of unease.

How can we resolve this problem? In my own mind, I toyed with the issue for more than a year. It puzzled me. I wondered if Mises’ insight applied only in a pre-digital age. I followed the speculations online that the value of bitcoin would be zero but for the national currencies into which it is converted. Perhaps the demand for bitcoin overcame the demands of Mises’ scenario because of a desperate need for something other than the dollar.

As time passed—and I read the work of Konrad Graf, Peter Surda, and Daniel Krawisz—finally the resolution came. Bitcoin is both a payment system and a money. The payment system is the source of value, while the accounting unit merely expresses that value in terms of price. The unity of money and payment is its most unusual feature, and the one that most commentators have had trouble wrapping their heads around.

We are all used to thinking of currency as separate from payment systems. This thinking is a reflection of the technological limitations of history. There is the dollar and there are credit cards. There is the euro and there is PayPal. There is the yen and there are wire services. In each case, money transfer relies on third-party service providers. In order to use them, you need to establish what is called a “trust relationship” with them, which is to say that the institution arranging the deal has to believe that you are going to pay.

This wedge between money and payment has always been with us, except for the case of physical proximity.

If I give you a dollar for your pizza slice, there is no third party. But payment systems, third parties, and trust relationships become necessary once you leave geographic proximity. That’s when companies like Visa and institutions like banks become indispensable. They are the application that makes the monetary software do what you want it to do.

The hitch is that

@ dfa02707:41ca50e3

News

• Wallet of Satoshi teases a comeback in the US market with a non-custodial product. According to an announcement on X, the widely popular custodial Lightning wallet is preparing to re-enter the United States market with a non-custodial wallet. It is unclear whether the product will be open-source, but the project has clarified that "there will be no KYC on any Wallet of Satoshi, ever!" Wallet of Satoshi ceased serving customers in the United States in November 2023.

• Vulnerability disclosure: Remote crash due to addr message spam in Bitcoin Core versions before v29. Bitcoin Core developer Antoine Poinsot disclosed an integer overflow bug that crashes a node if spammed with addr messages over an extended period. A fix was released on April 14, 2025, in Bitcoin Core v29.0. The issue is rated Low severity.
• Coinbase Know Your Customer (KYC) data leak. The U.S. Department of Justice, including its Criminal Division in Washington, is investigating a cyberattack on Coinbase. The incident involved cybercriminals attempting to extort $20 million from Coinbase to prevent stolen customer data from being leaked online. Although the data breach affected less than 1% of the exchange's users, Coinbase now faces at least six lawsuits following the revelation that some customer support agents were bribed as part of the extortion scheme.
• Fold has launched Bitcoin Gift Cards, enabling users to purchase bitcoin for personal use or as gifts, redeemable via the Fold app. These cards are currently available on Fold’s website and are planned to expand to major retailers nationwide later this year.

"Our mission is to make bitcoin simple and approachable for everyone. The Bitcoin Gift Card brings bitcoin to millions of Americans in a familiar way. Available at the places people already shop, the Bitcoin Gift Card is the best way to gift bitcoin to others," said Will Reeves, Chairman and CEO of Fold.

• Corporate treasuries hold nearly 1.1 million BTC, representing about 5.5% of the total circulating supply (1,082,164 BTC), per BitcoinTreasuries.net data. Recent purchases include Strategy adding 7,390 BTC (total: 576,230 BTC), Metplanet acquiring 1,004 BTC (total: 7,800 BTC), Tether holding over 100,521 BTC, and XXI Capital, led by Jack Mallers, starting with 31,500 BTC.
  • Meanwhile, a group of investors has filed a class action lawsuit against Strategy and its executive Michael Saylor. The lawsuit alleges that Strategy made overly optimistic projections using fair value accounting under new FASB rules while downplaying potential losses.
• The U.S. Senate voted to advance the GENIUS stablecoin bill for further debate before a final vote to pass it. Meanwhile, the House is crafting its own stablecoin legislation to establish a regulatory framework for stablecoins and their issuers in the U.S, reports CoinDesk.
• French 'crypto' entrepreneurs get priority access to emergency police services. French Minister of the Interior, Bruno Retailleau, agreed on measures to enhance security for 'crypto' professionals during a meeting on Friday. This follows a failed kidnapping attempt on Tuesday targeting the family of a cryptocurrency exchange CEO, and two other kidnappings earlier this year.
• Brussels Court declares tracking-based ads illegal in EU. The Brussels Court of Appeal ruled tracking-based online ads illegal in the EU due to an inadequate consent model. Major tech firms like Microsoft, Amazon, Google, and X are affected by the decision, as their consent pop-ups fail to protect privacy in real-time bidding, writes The Record.
• Telegram shares data on 22,777 users in Q1 2025, a significant increase from the 5,826 users' data shared during the same period in 2024. This significant increase follows the arrest of CEO and founder Pavel Durov last year.
• An Australian judge has ruled that Bitcoin is money, potentially exempting it from capital gains tax in the country. If upheld on appeal, this interim decision could lead to taxpayer refunds worth up to $1 billion, per tax lawyer Adrian Cartland.

Use the tools

• Bitcoin Safe v1.3.0 a secure and user-friendly Bitcoin savings wallet for beginners and advanced users, introduces an interactive chart, Child Pays For Parent (CPFP) support, testnet4 compatibility, preconfigured testnet demo wallets, various bug fixes, and other improvements.
• BlueWallet v7.1.8 brings numerous bug fixes, dependency updates, and a new search feature for addresses and transactions.
• Aqua Wallet v0.3.0 is out, offering beta testing for the reloadable Dolphin card (in partnership with Visa) for spending bitcoin and Liquid BTC. It also includes a new Optical Character Recognition (OCR) text scanner to read text addresses like QR codes, colored numbers on addresses for better readability, a reduced minimum for spending and swapping Liquid Bitcoin to 100 sats, plus other fixes and enhancements.

Source: Aqua wallet.

• The latest firmware updates for COLDCARD Mk4 v5.4.3 and Q v1.3.3 are now available, featuring the latest enhancements and bug fixes.
• Nunchuk Android v1.9.68.1 and iOS v1.9.79 introduce support for custom blockchain explorers, wallet archiving, re-ordering wallets on the home screen via long-press, and an anti-fee sniping setting.
• BDK-cli v1.0.0, a CLI wallet library and REPL tool to demo and test the BDK library, now uses bdk_wallet 1.0.0 and integrates Kyoto, utilizing the Kyoto protocol for compact block filters. It sets SQLite as the default database and discontinues support for sled.
• publsp is a new command-line tool designed for Lightning node runners or Lightning Service Providers (LSPs) to advertise liquidity offers over Nostr.

"LSPs advertise liquidity as addressable Kind 39735 events. Clients just pull and evaluate all those structured events, then NIP-17 DM an LSP of their choice to coordinate a liquidity purchase," writes developer smallworlnd.

• Lightning Blinder by Super Testnet is a proof-of-concept privacy tool for the Lightning Network. It enables users to mislead Lightning Service Providers (LSPs) by making it appear as though one wallet is the sender or recipient, masking the original wallet. Explore and try it out here.

• Mempal v1.5.3, a Bitcoin mempool monitoring and notification app for Android, now includes a swipe-down feature to refresh the dashboard, a custom time option for widget auto-update frequency, and a

@ b1ddb4d7:471244e7

Breez, a leader in Lightning Network infrastructure, and Spark, a bitcoin-native Layer 2 (L2) platform, today announced a groundbreaking collaboration to empower developers with tools to seamlessly integrate self-custodial bitcoin payments into everyday applications.

The partnership introduces a new implementation of the Breez SDK built on Spark’s bitcoin-native infrastructure, accelerating the evolution of bitcoin from “digital gold” to a global, permissionless currency.

The Breez SDK is expanding

We’re joining forces with @buildonspark to release a new nodeless implementation of the Breez SDK — giving developers the tools they need to bring Bitcoin payments to everyday apps.

→ https://t.co/iWjZhWRwsx

Bitcoin-Native
Powered by Spark’s…

— Breez (@Breez_Tech) May 22, 2025

A Bitcoin-Native Leap for Developers

The updated Breez SDK leverages Spark’s L2 architecture to deliver a frictionless, bitcoin-native experience for developers.

Key features include:

• Universal Compatibility: Bindings for all major programming languages and frameworks.
• LNURL & Lightning Address Support: Streamlined integration for peer-to-peer transactions.
• Real-Time Interaction: Instant mobile notifications for payment confirmations.
• No External Reliance: Built directly on bitcoin via Spark, eliminating bridges or third-party consensus.

This implementation unlocks use cases such as streaming content payments, social app monetization, in-game currencies, cross-border remittances, and AI micro-settlements—all powered by Bitcoin’s decentralized network.

Quotes from Leadership

Roy Sheinfeld, CEO of Breez:
“Developers are critical to bringing bitcoin into daily life. By building the Breez SDK on Spark’s revolutionary architecture, we’re giving builders a bitcoin-native toolkit to strengthen Lightning as the universal language of bitcoin payments.”

Kevin Hurley, Creator of Spark:
“This collaboration sets the standard for global peer-to-peer transactions. Fast, open, and embedded in everyday apps—this is bitcoin’s future. Together, we’re equipping developers to create next-generation payment experiences.”

David Marcus, Co-Founder and CEO of Lightspark:
“We’re thrilled to see developers harness Spark’s potential. This partnership marks an exciting milestone for the ecosystem.”

Collaboration Details
As part of the agreement, Breez will operate as a Spark Service Provider (SSP), joining Lightspark in facilitating payments and expanding Spark’s ecosystem. Technical specifications for the SDK will be released later this year, with the full implementation slated for launch in 2025.

About Breez
Breez pioneers Lightning Network solutions, enabling developers to embed self-custodial bitcoin payments into apps. Its SDK powers seamless, secure, and decentralized financial interactions.

About Spark
Spark is a bitcoin-native Layer 2 infrastructure designed for payments and settlement, allowing developers to build directly on Bitcoin’s base layer without compromises.

@ dfa02707:41ca50e3

Contribute to keep No Bullshit Bitcoin news going.

• This release introduces Payjoin v2 functionality to Bitcoin wallets on Cake, along with several UI/UX improvements and bug fixes.
• The Payjoin v2 protocol enables asynchronous, serverless coordination between sender and receiver, removing the need to be online simultaneously or maintain a server. This simplifies privacy-focused transactions for regular users.

"I cannot speak highly enough of how amazing it has been to work with @bitgould and Jaad from the@payjoindevkit team, they're doing incredible work. None of this would be possible without them and their tireless efforts. PDK made it so much easier to ship Payjoin v2 than it would have been otherwise, and I can't wait to see other wallets jump in and give back to PDK as they implement it like we did," said Seth For Privacy, VP at Cake Wallet.

How to started with Payjoin in Cake Wallet:

1. Open the app menu sidebar and click Privacy.
2. Toggle the Use Payjoin option.
3. Now on your receive screen you'll see an option to copy a Payjoin URL

• Bull Bitcoin Wallet v0.4.0 introduced Payjoin v2 support in late December 2024. However, the current implementations are not interoperable at the moment, an issue that should be addressed in the next release of the Bull Bitcoin Wallet.

• Cake Wallet was one of the first wallets to introduce Silent Payments back in May 2024. However, users may encounter sync issues while using this feature at present, which will be resolved in the next release of Cake Wallet.

What's new

• Payjoin v2 implementation.
• Wallet group improvements: Enhanced management of multiple wallets.
• Various bug fixes: improving overall stability and user experience.
• Monero (XMR) enhancements.

Learn more about using, implementing, and understanding BIP 77: Payjoin Version 2 using the payjoin crate in Payjoin Dev Kit here.

Announcement
Blog Post / Archive
GitHub Repo

@ 866e0139:6a9334e5

Autor: Anna Nagel. (Bild: Lukas Karl). Dieser Beitrag wurde mit dem Pareto-Client geschrieben. Sie finden alle Texte der Friedenstaube und weitere Texte zum Thema Frieden hier. Die neuesten Pareto-Artikel finden Sie auch in unserem Telegram-Kanal.

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Die neuesten Artikel der Friedenstaube gibt es jetzt auch im eigenen Friedenstaube-Telegram-Kanal.

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Wem in seinem Leben Schmerz zugefügt wurde, wer sich ungerecht behandelt fühlt oder wachen Auges in der Welt umschaut, kommt wahrscheinlich irgendwann mit der Frage in Berührung, wie das alles noch einmal «gut» werden kann. Wie kann die Welt sich mit sich selbst versöhnen? Und wie kann ich es selbst schaffen, mich mit ihr und den Menschen, die schlimme Taten vollbringen, wieder in harmonischer Akzeptanz zu verbinden? Kann und will ich gewisse Gräueltaten verzeihen oder gibt es das «Unverzeihliche»? Und selbst wenn ich wollte, wie könnte mir das gelingen?

Perspektivwechsel

Wenn wir an dem Zorn über begangenes Unrecht festhalten, schauen wir in der Regel aus immer derselben Perspektive auf das Geschehen. Mal um Mal erzürnen und empören wir uns darüber, erzählen uns und anderen stets die gleiche Geschichte, die uns allerdings – ebenfalls ein ums andere Mal – wieder selbst verletzt. Das Destruktive holt uns so ständig wieder ein; wir sehen und fühlen das unschuldige Kind und empfinden Verachtung für die Täter.

Die Perspektive zu wechseln lädt uns dazu ein, das Geschehen aus anderen Blickwinkeln zu betrachten und unser Bewusstsein von der schmerzlichen Wiederholung zu lösen. Wir können einmal weit rauszoomen und einen spirituellen Blickwinkel einnehmen, beispielsweise aus Sicht des All-ein-Bewusstseins, das sich in unzählige Seelen teilt, von denen wiederum Milliarden derzeit auf der Erde inkarniert sind. Dieses eine Bewusstsein möchte jede auch nur mögliche Erfahrung machen und durch die Trennung – die Erschaffung der Dualität – kann es sich selbst aus diesen Milliarden Persönlichkeiten heraus erfahren, um zu lernen. Während dieser scheinbaren Trennung vergessen wir, dass wir alle eins sind, dass wir alle aus demselben «Stoff» gemacht sind und nach diesem Spiel hier auf Erden unsere Erinnerung zurückerlangen und unsere Erfahrungen zurück geben in die eine «Quelle».

Unser aller Reise geht letztlich darum, hier auf der Erde aus diesem Zustand des Vergessens zu erwachen. Um dies zu erreichen und all diese Erfahrungen machen zu können und uns auch unter widrigsten Umständen an unsere wahre Essenz, an die Liebe, erinnern können, braucht es auch Akteure, die die Dunkelheit verkörpern – denn nur so haben wir die Wahl, ob wir uns von ihr einnehmen lassen oder uns für die Liebe und das Mitgefühl entscheiden. Der Täter sowie das Opfer sind dabei stets Aspekte unserer selbst – im Innen wie im Außen – und jeder einzelne verändert die Welt, indem er Liebe und Mitgefühl oder Hass und Verachtung wählt.

Eine etwas rationalere Herangehensweise wäre, zu schauen, was dazu führt, dass ein Mensch sich derart unmenschlich verhalten kann; also der Zugang über die Psychologie. Hier werden wir uns bewusst, dass jeder Täter auch einmal ein Kind war. Symbolisch sogar das Kind, mit dem wir jetzt im Beispiel mitfühlen und das wir gleichzeitig heute als erwachsenen Täter verachten. Natürlich kann man hier einwenden, dass nicht jedes Opfer zum Täter wird, aber man kann ebenso anerkennen, dass uns bei dieser Haltung das größte Stück fehlt; und zwar die Geschichte desjenigen, die Jahre dazwischen, sowie jeder einzelne Reiz und jedes Detail der Umstände.

Wie viel Schmerz und Leid muss ein Mensch erfahren, bis er unmenschlich wird? Mit Einbezug aller Umstände und Faktoren, der psychischen Schutzmechanismen traumatischer Erfahrungen sowie fehlender Ausbildung sozialer und empathischer Fähigkeiten auch im neuronalen Bereich kann man auch auf diesem Wege Verständnis erlangen. Sichtbar wird hierdurch auch, dass emotionaler Schmerz über Generationen weitergegeben wird und es schwer ersichtlich ist, wo denn die eigentliche Ursache liegt. Auch hier wird erkennbar, dass nur jeder bei sich anfangen kann und Verantwortung für seine Heilung – und damit gleichzeitig die anderer – übernehmen müsste, anstatt auf die Suche nach dem oder der «Schuldigen» zu gehen.

Was bedarf eigentlich der Vergebung?

Wenn es uns schwerfällt zu vergeben, also Groll und Verachtung loszulassen und Mitgefühl zu empfinden, ist es ebenfalls hilfreich, einmal hinzuschauen, worum es genau geht. Wenn es uns selbst betrifft, handelt es sich in der Regel um Schmerz, der uns willentlich, manchmal auch unbewusst, zugefügt wurde und den wir (noch) nicht loslassen können, weil er noch nicht verheilt ist. Darauf gehe ich später noch einmal ein. Oft geht es aber auch um uns unbekannte Menschen, von deren Verbrechen wir Kenntnis haben und deren Ungeheuerlichkeit uns aus der Fassung bringt. Es geht um Taten, die wir nicht nachvollziehen können, weder rational noch emotional. Wir meinen, selbst wenn jemand nicht spürte, was er anderen antut, so müsse er es doch wenigstens besser wissen. Das ist das, was uns Menschen ausmacht, mit anderen mitzufühlen und sie zu verstehen. Doch anscheinend gibt es Menschen, deren Persönlichkeit oder auch Psyche dazu absolut nicht in der Lage sind. Die keinen moralischen Kompass besitzen und keinerlei soziales Empfinden, denn sonst könnten sie bestimmte Taten nicht ausführen. Möglicherweise dissoziieren sie sich selbst so stark, dass diese für sie eine Normalität darstellen, sie diese entschuldigen beziehungsweise vor sich selbst rechtfertigen oder im extremen Fall keine Erinnerung mehr daran haben.

Uns erscheinen die fehlende Empathie sowie das fehlende Verständnis so fremd, dass wir es nicht nachvollziehen können. Uns fehlt die Nachvollziehbarkeit der Nichtnachvollziehbarkeit des Erlebens des anderen, und wir erachten diesen dadurch als unmenschlich. Denn menschlich wären doch eben diese Fähigkeiten wie Mitgefühl, Güte, Reflexion, Warmherzigkeit, Verständnis und Liebe. Zugleich erzeugen wir hier aber einen Konflikt, wenn wir sagen: «Da diese Menschen sich so unmenschlich verhalten, soll ihnen kein Mitgefühl und keine Vergebung entgegengebracht werden, sollen auch sie nicht menschlich behandelt werden», wodurch wir uns allerdings selbst unserer Menschlichkeit berauben.

«Aber der Täter hatte doch die freie Wahl, er hätte doch anders entscheiden können!» Ja, möglicherweise schon, aber jetzt haben wir die Wahl. Und wir haben viel leichtere Voraussetzungen dafür, menschlich zu handeln, weil wir gesunden Zugang zu unserer Empathie, Moral und unserer Ratio haben.

Hätte der Täter es geschafft, seinen Tätern zu verzeihen, würde er die Destruktivität, die er ab einem gewissen Zeitpunkt nicht mehr in sich tragen oder verdrängen konnte, nicht an anderen ausagieren. Es ist ihm nicht gelungen, vielleicht sogar weil etwas in ihm es für unmöglich hielt, Unmenschliches, das ihm zugefügt wurde, zu verzeihen. Aber uns kann es gelingen, diesen Kreislauf zu durchbrechen und uns nicht in ihn hineinziehen zu lassen; wir können dem «Dunklen» den Nährboden entziehen.

Manchmal nehmen wir an, würden wir das Unbeschreibliche verzeihen, bedeutete dies, dass wir es tolerieren oder gar gutheißen. Dem ist nicht so. Analog dazu habe ich manches Mal die Angst gehabt, würde ich aufhören, um meinen Freund zu trauern, bedeute dies, dass ich ihn nicht mehr vermisse. Auch das ist nicht richtig. Ich heile lediglich das, was mir Schmerzen zufügt, bis am Ende nur noch die Liebe bleibt. Und wenn wir verzeihen, ist es kein Gutheißen der Taten, es bedeutet ein Loslassen dessen, was uns damit verstrickt und das Destruktive nährt.

Mitgefühl beginnt bei uns selbst

«Daß ich dem Hungrigen zu essen gebe, dem vergebe, der mich beleidigt, und meinen Feind liebe- das sind große Tugenden. Was aber, wenn ich nun entdecken sollte, daß der armselige Bettler und der unverschämteste Beleidiger alle in mir selber sind und ich bedürftig bin, Empfänger meiner eigenen Wohltaten zu sein? Daß ich der Feind bin, den ich lieben muß - was dann?» – C. G. Jung

Mit diesem Zitat beginnt Dan Millman das Kapitel «Das Gesetz des Mitgefühls» in seinem Buch «Die universellen Lebensgesetze des friedvollen Kriegers». Die weise Frau lehrt dem Wanderer das Gesetz des Mitgefühls und erklärt, es sei «eine liebevolle Aufforderung, über unsere begrenzte Sichtweise hinauszuwachsen», auch wenn die Last dieser Aufgabe zuweilen sehr schwer wiegen könne. Genau deshalb müsse man daran denken, dass sie bei uns selbst beginnt und wir «geduldig» und «sanft» mit uns, unseren Gefühlen und Gedanken sein sollten.

Um dem – noch skeptischen – Wanderer zu veranschaulichen, wie wir Mitgefühl auch mit unseren Gegnern empfinden können, bat sie ihn, sich an eine Auseinandersetzung zu erinnern, in der er zornig, neidisch oder eifersüchtig war und sich diese Gefühle noch einmal zu vergegenwärtigen. Als er das tat, den Schmerz und die Wut wieder spürte, sagte sie zu ihm: «Und nun stell dir vor, daß der Mensch, mit dem du dich streitest, mitten in eurer erregten Auseinandersetzung plötzlich nach seinem Herzen faßt, einen Schrei ausstößt und zu deinen Füßen tot zu Boden sinkt.» Der Wanderer erschrak und auf Nachfrage der weisen Frau stellte er fest, dass er nun keinerlei Schmerz oder Wut mehr empfand. Sogleich aber kam ihm der Gedanke: «Aber – aber was wäre, wenn ich mich über den Tod dieses Menschen freuen würde? Wenn ich ihm nicht verzeihen könnte?», worauf die weise Frau antwortete: «Dann verzeih dir wenigstens selber deine Unversöhnlichkeit. Und in dieser Vergebung wirst du das Mitgefühl finden, das deinen Schmerz heilt, als Mensch in dieser Welt zu leben.»

Weiter erinnert uns die weise Frau daran, dass wir alle, während wir hier auf der Erde sind, Träume, Hoffnungen und Enttäuschungen haben; und dass diese, sowie letztlich der Tod, uns alle verbinden.

Es ist ein Prozess

Dan Millman sagt hier in Gestalt der Weisen Frau, dass Mitgefühl bei uns selbst beginnt und diesen Aspekt möchte ich noch einmal hervorheben. Es kann nämlich passieren, dass wir uns in einer oberflächlichen Vergebung wieder finden, weil wir meinen, es sei richtig und moralisch, anderen zu verzeihen, ohne aber die tieferen Schichten dabei zu fühlen. Das ist dann leider nichts anderes, als Verdrängung. Gerade wenn wir selbst Opfer von Ungerechtigkeit, physischer oder mentaler Gewalt wurden, ist es unerlässlich den Heilungsweg in Gänze zu durchschreiten, und in den Wachstumsprozess zu verwandeln, der uns Mitgefühl und Weisheit lehrt. Und dazu gehören die Wut auf das Begangene, die Verzweiflung, die Ungerechtigkeit und Ohnmacht zu fühlen, uns auf «unsere Seite» zu stellen und Partei für uns selbst zu ergreifen, bevor es ernstlich möglich wird, zu verzeihen. Zunächst fühlen wir mit uns selbst den Schmerz und befreien die Gefühle, die wir uns möglicherweise nie trauten zu fühlen, all die Wut und den Groll. Erst später kann dann aus dem Inneren heraus das weitere Erkennen stattfinden und Heilung und Vergebung geschehen.

Vergebung findet im Herzen statt

Die hier in diesem Text von mir aufgeführten Perspektiven sind nur zwei, drei kleine Beispiele für Sichtweisen, die man einnehmen könnte, um zu neuen Einsichten zu gelangen. Sie sollen niemanden von irgendetwas überzeugen, sondern als Anregung dienen. Denn letztlich geht es darum, Vergebung in sich selbst zu finden. Vergebung ist also etwas, das aus dem Inneren heraus entsteht; ein Ergebnis eines tiefen Verständnisses und Fühlens, ja eines Erkennens. Auf dieser Reise gehen wir unterschiedliche Blickwinkel und Versionen ab, bis wir im Herzen ankommen, es sich öffnet und wir plötzlich «klar» sehen. Daraufhin breitet sich Wärme im Körper aus, Liebe durchströmt uns, begleitet möglicherweise von einem Gefühl leiser Euphorie, möglicherweise auch einem leichten Schmerz und Tränen – sowohl ein paar der Traurigkeit als auch welchen der Dankbarkeit. Das Loslassen und die Befreiung sind spürbar und nur für jeden persönlich erfahrbar, der sich auf diesen Weg begibt und seine individuelle Ansicht findet, die ihn befreit und erlöst.

Meiner Meinung nach bedeutet also Vergebung eine Öffnung des Herzens, ein Erkennen und ein Hineinwachsen in die Perspektive der Liebe. Sie ist nicht auf rationaler Ebene zu finden; die rationale Ebene kann nur dabei helfen, den Weg zum Mitgefühl zu beschreiten, denn:

«Man sieht nur mit dem Herzen gut. Das Wesentliche ist für die Augen unsichtbar.»

– Antoine de Saint-Exupéry

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Anna Nagel veröffentlicht auf ihrem Blog „Heimwärts“ seit Jahren zu den Themen Heilung, Bewusstsein, kollektives Erwachen, Gefühle, Spiritualität, Psyche, Kundalini und Philosophie.

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@ dfa02707:41ca50e3

Contribute to keep No Bullshit Bitcoin news going.

This update brings key enhancements for clarity and usability:

• Recent Blocks View: Added to the Send tab and inspired by Mempool's visualization, it displays the last 2 blocks and the estimated next block to help choose fee rates.
• Camera System Overhaul: Features a new library for higher resolution detection and mouse-scroll zoom support when available.
• Vector-Based Images: All app images are now vectorized and theme-aware, enhancing contrast, especially in dark mode.
• Tor & P2A Updates: Upgraded internal Tor and improved support for pay-to-anchor (P2A) outputs.
• Linux Package Rename: For Linux users, Sparrow has been renamed to sparrowwallet (or sparrowserver); in some cases, the original sparrow package may need manual removal.
• Additional updates include showing total payments in multi-payment transaction diagrams, better handling of long labels, and other UI enhancements.

• Sparrow v2.2.1 is a bug fix release that addresses missing UUID issue when starting Tor on recent macOS versions, icons for external sources in Settings and Recent Blocks view, repackaged .deb installs to use older gzip instead of zstd compression, and removed display of median fee rate where fee rates source is set to Server.

Learn how to get started with Sparrow wallet:

Release notes (v2.2.0)

• Added Recent Blocks view to Send tab.
• Converted all bitmapped images to theme aware SVG format for all wallet models and dialogs.
• Support send and display of pay to anchor (P2A) outputs.
• Renamed sparrow package to sparrowwallet and sparrowserver on Linux.
• Switched camera library to openpnp-capture.
• Support FHD (1920 x 1080) and UHD4k (3840 x 2160) capture resolutions.
• Support camera zoom with mouse scroll where possible.
• In the Download Verifier, prefer verifying the dropped file over the default file where the file is not in the manifest.
• Show a warning (with an option to disable the check) when importing a wallet with a derivation path matching another script type.
• In Cormorant, avoid calling the listwalletdir RPC on initialization due to a potentially slow response on Windows.
• Avoid server address resolution for public servers.
• Assume server address is non local for resolution failures where a proxy is configured.
• Added a tooltip to indicate truncated labels in table cells.
• Dynamically truncate input and output labels in the tree on a transaction tab, and add tooltips if necessary.
• Improved tooltips for wallet tabs and transaction diagrams with long labels.
• Show the address where available on input and output tooltips in transaction tab tree.
• Show the total amount sent in payments in the transaction diagram when constructing multiple payment transactions.
• Reset preferred table column widths on adjustment to improve handling after window resizing.
• Added accessible text to improve screen reader navigation on seed entry.
• Made Wallet Summary table grow horizontally with dialog sizing.
• Reduced tooltip show delay to 200ms.
• Show transaction diagram fee percentage as less than 0.01% rather than 0.00%.
• Optimized and reduced Electrum server RPC calls.
• Upgraded Bouncy Castle, PGPainless and Logback libraries.
• Upgraded internal Tor to v0.4.8.16.
• Bug fix: Fixed issue with random ordering of keystore origins on labels import.
• Bug fix: Fixed non-zero account script type detection when signing a message on Trezor devices.
• Bug fix: Fixed issue parsing remote Coldcard xpub encoded on a different network.
• Bug fix: Fixed inclusion of fees on wallet label exports.
• Bug fix: Increase Trezor device libusb timeout.

Linux users: Note that the sparrow package has been renamed to sparrowwallet or sparrowserver, and in some cases you may need to manually uninstall the original sparrow package. Look in the /opt folder to ensure you have the new name, and the original is removed.

What's new in v2.2.1

• Updated Tor library to fix missing UUID issue when starting Tor on recent macOS versions.
• Repackaged .deb installs to use older gzip instead of zstd compression.
• Removed display of median fee rate where fee rates source is set to Server.
• Added icons for external sources in Settings and Recent Blocks view
• Bug fix: Fixed issue in Recent Blocks view when switching fee rates source
• Bug fix: Fixed NPE on null fee returned from server

Announcement / Archive
GitHub Repo

@ b1ddb4d7:471244e7

When Sergei talks about bitcoin, he doesn’t sound like someone chasing profits or followers. He sounds like someone about to build a monastery in the ruins.

While the mainstream world chases headlines and hype, Sergei shows up in local meetups from Sacramento to Cleveland, mentors curious minds, and shares what he knows is true – hoping that, with the right spark, someone will light their own way forward.

We interviewed Sergei to trace his steps: where he started, what keeps him going, and why teaching bitcoin is far more than explaining how to set up a node – it’s about reaching the right minds before the noise consumes them. So we began where most journeys start: at the beginning.

First Steps

• So, where did it all begin for you and what made you stay curious?

I first heard about bitcoin from a friend’s book recommendation, American Kingpin, the book about Silk Road (online drug marketplace). He is still not a true bitcoiner, although I helped him secure private keys with some bitcoin.

I was really busy at the time – focused on my school curriculum, running a 7-bedroom Airbnb, and working for a standardized test prep company. Bitcoin seemed too technical for me to explore, and the pace of my work left no time for it.

After graduating, while pursuing more training, I started playing around with stocks and maximizing my savings. Passive income seemed like the path to early retirement, as per the promise of the FIRE movement (Financial Independence, Retire Early). I mostly followed the mainstream news and my mentor’s advice – he liked preferred stocks at the time.

I had some Coinbase IOUs and remember sending bitcoin within the Coinbase ledger to a couple friends. I also recall the 2018 crash; I actually saw the legendary price spike live but couldn’t benefit because my funds were stuck amidst the frenzy. I withdrew from that investment completely for some time. Thankfully, my mentor advised to keep en eye on bitcoin.

Around late 2019, I started DCA-ing cautiously. Additionally, my friend and I were discussing famous billionaires, and how there was no curriculum for becoming a billionaire. So, I typed “billionaires” into my podcast app, and landed on We Study Billionaires podcast.

That’s where I kept hearing Preston Pysh mention bitcoin, before splitting into his own podcast series, Bitcoin Fundamentals. I didn’t understand most of the terminology of stocks, bonds, etc, yet I kept listening and trying to absorb it thru repetition. Today, I realize all that financial talk was mostly noise.

When people ask me for a technical explanation of fiat, I say: it’s all made up, just like the fiat price of bitcoin! Starting in 2020, during the so-called pandemic, I dove deeper. I religiously read Bitcoin Magazine, scrolled thru Bitcoin Twitter, and joined Simply Bitcoin Telegram group back when DarthCoin was an admin.

DarthCoin was my favorite bitcoiner – experienced, knowledgeable, and unapologetic. Watching him shift from rage to kindness, from passion to despair, gave me a glimpse at what a true educator’s journey would look like.

The struggle isn’t about adoption at scale anymore. It’s about reaching the few who are willing to study, take risks, and stay out of fiat traps. The vast majority won’t follow that example – not yet at least… if I start telling others the requirements for true freedom and prosperity, they would certainly say “Hell no!”

• At what point did you start teaching others, and why?

After college, I helped teach at a standardized test preparation company, and mentored some students one-on-one. I even tried working at a kindergarten briefly, but left quickly; Babysitting is not teaching.

What I discovered is that those who will succeed don’t really need my help – they would succeed with or without me, because they already have the inner drive.

Once you realize your people are perishing for lack of knowledge, the only rational thing to do is help raise their level of knowledge and understanding. That’s the Great Work.

I sometimes imagine myself as a political prisoner. If that were to happen, I’d probably start teaching fellow prisoners, doctors, janitors, even guards. In a way we already live in an open-air prison, So what else is there to do but teach, organize, and conspire to dismantle the Matrix?

Building on Bitcoin

• You hosted some in-person meetups in Sacramento. What did you learn from those?

My first presentation was on MultiSig storage with SeedSigner, and submarine swaps through Boltz.exchange.

I realized quickly that I had overestimated the group’s technical background. Even the meetup organizer, a financial advisor, asked, “How is anyone supposed to follow these steps?” I responded that reading was required… He decided that Unchained is an easier way.

At a crypto meetup, I gave a much simpler talk, outlining how bitcoin will save the world, based on a DarthCoin’s guide. Only one person stuck around to ask questions – a man who seemed a little out there, and did not really seem to get the message beyond the strength of cryptographic security of bitcoin.

Again, I overestimated the audience’s readiness. That forced me to rethink my strategy. People are extremely early and reluctant to study.

• Now in Ohio, you hold sessions via the Orange Pill App. What’s changed?

My new motto is: educate the educators. The corollary is: don’t orange-pill stupid normies (as DarthCoin puts it).

I’ve shifted to small, technical sessions in order to raise a few solid guardians of this esoteric knowledge who really get it and can carry it forward.

The youngest attendee at one of my sessions is a newborn baby – he mostly sleeps, but maybe he still absorbs some of the educational vibes.

• How do local groups like Sactown and Cleveland Bitcoiners influence your work?

Every meetup reflects its local culture. Sacramento and Bay Area Bitcoiners, for example, do camping trips – once we camped through a desert storm, shielding our burgers from sand while others went to shoot guns.

Cleveland Bitcoiners are different. They amass large gatherings. They recently threw a 100k party. They do a bit more community outreach. Some are curious about the esoteric topics such as jurisdiction, spirituality, and healthful living.

I have no permanent allegiance to any state, race, or group. I go where I can teach and learn. I anticipate that in my next phase, I’ll meet Bitcoiners so advanced that I’ll have to give up my fiat job and focus full-time on serious projects where real health and wealth are on the line.

Hopefully, I’ll be ready. I believe the universe always challenges you exactly to your limit – no less, no more.

• What do people struggle with the most when it comes to technical education?

The biggest struggle isn’t technical – it’s a lack of deep curiosity. People ask “how” and “what” – how do I set up a node, what should one do with the lightning channels? But very few ask “why?”

Why does on-chain bitcoin not contribute to the circular economy? Why is it essential to run Lightning? Why did humanity fall into mental enslavement in the first place?

I’d rather teach two-year-olds who constantly ask “why” than adults who ask how to flip a profit. What worries me most is that most two-year-olds will grow up asking state-funded AI bots for answers and live according to its recommendations.

• One Cleveland Bitcoiner shows up at gold bug meetups. How valuable is face-to-face education?

I don’t think the older generation is going to reverse the current human condition. Most of them have been under mind control for too long, and they just don’t have the attention span to study and change their ways.

They’re better off stacking gold and helping fund their grandkids’ education. If I were to focus on a demographic, I’d go for teenagers – high school age – because by college, the indoctrination is usually too strong, and they’re chasing fiat mastery.

As for the gold bug meetup? Perhaps one day I will show up with a ukulele to sing some bitcoin-themed songs. Seniors love such entertainment.

• How do you choose what to focus on in your sessions, especially for different types of learners?

I don’t come in with a rigid agenda. I’ve collected a massive library of resources over the years and never stopped reading. My browser tab and folder count are exploding.

At the meetup, people share questions or topics they’re curious about, then I take that home, do my homework, and bring back a session based on those themes. I give them the key takeaways, plus where to dive deeper.

Most people won’t – or can’t – study the way I do, and I expect attendees to put in the work. I suspect that it’s more important to reach those who want to learn but don’t know how, the so-called nescient (not knowing), rather than the ignorant.

There are way too many ignorant bitcoiners, so my mission is to find those who are curious what’s beyond the facade of fake reality and superficial promises.

That naturally means that fewer people show up, and that’s fine. I’m not here for the crowds; I’m here to educate the educators. One bitcoiner who came decided to branch off into self-custody sessions and that’s awesome. Personally, I’m much more focused on Lightning.

I want to see broader adoption of tools like auth, sign-message, NWC, and LSPs. Next month, I’m going deep into eCash solutions, because let’s face it – most newcomers won’t be able to afford their own UTXO or open a lightning channel; additionally, it has to be fun and easy for them to transact sats, otherwise they won’t do it. Additionally, they’ll need to rely on

@ b1ddb4d7:471244e7

Sati, a Bitcoin payments app and Lightning infrastructure provider, announced the launch of its Lightning integration with Xverse wallet.

Launched in 2025 with investors of the likes as Draper Associates and Ricardo Salinas, Sati powers Bitcoin payments on applications such as WhatsApp to fuel the next wave of adoption.

The Whatsapp bot allows users to send bitcoin via the messaging app through a special bot. After verifying their identity, the user selects the “send” option, chooses to pay to a Lightning address, enters the amount (1,000 sats), confirms with a PIN, and the transaction is completed, with the funds appearing instantly in the recipient wallet.

The new integration will now bring Lightning functionality to over 1.5 million people worldwide. Users can send and receive sats (Bitcoin’s smallest denomination) instantly over the Lightning Network all within the Xverse app,

Further, every xverse wallet user gets a Lightning Address instantly. That means they can receive tips, pay invoices, and use Bitcoin for microtransactions—all without having to manage channels or switch between different apps.

While Xverse adds support for Lightning, users should be cautious in using the wallet as it’s mostly known for enabling access to rug pull projects.

Initially designed in 2017, the Lightning Network has grown to become Bitcoin’s leading layer-2, with a current BTC capacity of over $465M.

“Bitcoin was not meant to be an asset for Wall Street—it was built for peer-to-peer money, borderless and accessible,” said Felipe Servin, Founder and CEO of Sati. “Integrating Lightning natively into Xverse brings that vision back to life, making Bitcoin usable at scale for billions.”

Sati expects USDT on Lightning to be supported as early as July 2025 for users accessing Sati through WhatsApp.

This integration positions Sati’s role as a Lightning infrastructure provider, not just a consumer app. By leveraging its API-based solution, the company provides plug-and-play backend services to wallets and platforms looking to add Bitcoin payments without compromising on security or UX.

Sati recently closed a $600K pre-seed round. The funding is used to support global expansion, stablecoin integration, Lightning infrastructure growth, and broader access to Bitcoin in emerging markets.

The Sati team is attending Bitcoin2025 in Las Vegas this week and looking forward to connect with bitcoin enthusiasts.

@ 83279ad2:bd49240d

a

@ d3d74124:a4eb7b1d

language is a funny thing. the English grammar is one of the most, if the not THE most complicated grammars to learn.

https://en.wikipedia.org/wiki/Defense_Language_Aptitude_Battery\ DLAB. it's the test you take to see if you have a gift for language learning.

in my exploration of languages, first Chinese Mandarin, then software languages, context is king (Jesus is King). the surrounding context is different every where you go.

physical space context. we can't be two places at once. nostr allows for many languages, because you can provide your own digital context. our physical perspective give us a field of view. NOSTR clients give us a field of view into digital context.

math is a language.

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bitcoin will be called a lot of things.

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wizardry

some elections results are anchored in time. using bitcoin. what else should be? legal documents seem obvious. other cryptographic proofs.

zero knowledge proofs. something about curve trees.

Find your local BitDevs.

Shenandoah Bitcoin Club

pondering a Veteran's Day live music event in Frederick County, VA. who would show up to a lunch and learn with hardware wallets in testnet4 mode? to try shit out? local only, but you should do it where you are too if you're not local.

mining

getting better? Bitmain announces a "decentralized mining pool" but I doubt we'll see open source code if history follows. 256Foundation getting to business. working prototypes for the Ember One using USB and python are out there for those that know where to look. i am very bullish on mujina. very bullish. fun coinbase tricks happening too with CTV+CSFS.

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p.s. written on primal's new article publishing UI.

@ cae03c48:2a7d6671

Bitcoin Magazine

Mayor Eric Adams Announced New York City Will Issue a Bit Bond

At the 2025 Bitcoin Conference in Las Vegas, the Mayor of New York City Eric Adams announced that New York City will issue a Bit Bond.

Eric Adams started by connecting the American flag to Bitcoin commenting, “just as our flag still flies, Bitcoin is going to continue to fly in our country.” Later on he mentioned, “New York City is going to lead the way. We are going to be the leader because we know the power of innovation and what innovation has to offer.”

BREAKING: NYC Mayor Eric Adams plans to issue Bit Bond for New York. #Bitcoin pic.twitter.com/loESV4UJYf

— Bitcoin Magazine (@BitcoinMagazine) May 28, 2025

“These conferences are crucial and when we held our summit in New York a few weeks ago,” said Adam. “We held it with a clear focus that it is time for you no longer to go through the lawfare that you went through and had to flee our city. New York is the empire state. We don’t break empires, we build empires.”

Adams called back everyone that left New York because of their overregulation of Bitcoin and Crypto.

“Come back home you have a mayor that is the crypto mayor, is the Bitcoin mayor and I want you back in the city of New York,” stated Adam. “Where you won’t be attacked and criminalized. Let’s get rid of the Bitcoin license and allow us to free flow of Bitcoin in our city.”

Then Adam commented, “it’s time for the first time in the history of this city to have a financial instrument that is made for those who are holders of Bitcoin. I believe we need to have a Bit Bond and I am going to push and fight to get a Bit Bond in New York.”

Adams closed his speech by saying, “We are going to use Bitcoin blockchain for our birth certificates. We are going to use Bitcoin to pay off fines and taxes. We are going to allow our young people to understand what it is to be part of this industry, but we need you on the ground.”

This post Mayor Eric Adams Announced New York City Will Issue a Bit Bond first appeared on Bitcoin Magazine and is written by Oscar Zarraga Perez.

@ dfa02707:41ca50e3

• This version introduces the Soroban P2P network, enabling Dojo to relay transactions to the Bitcoin network and share others' transactions to break the heuristic linking relaying nodes to transaction creators.

• Additionally, Dojo admins can now manage API keys in DMT with labels, status, and expiration, ideal for community Dojo providers like Dojobay. New API endpoints, including "/services" exposing Explorer, Soroban, and Indexer, have been added to aid wallet developers.
• Other maintenance updates include Bitcoin Core, Tor, Fulcrum, Node.js, plus an updated ban-knots script to disconnect inbound Knots nodes.

"I want to thank all the contributors. This again shows the power of true Free Software. I also want to thank everyone who donated to help Dojo development going. I truly appreciate it," said Still Dojo Coder.

What's new

• Soroban P2P network. For MyDojo (Docker setup) users, Soroban will be automatically installed as part of their Dojo. This integration allows Dojo to utilize the Soroban P2P network for various upcoming features and applications.
• PandoTx. PandoTx serves as a transaction transport layer. When your wallet sends a transaction to Dojo, it is relayed to a random Soroban node, which then forwards it to the Bitcoin network. It also enables your Soroban node to receive and relay transactions from others to the Bitcoin network and is designed to disrupt the assumption that a node relaying a transaction is closely linked to the person who initiated it.
  • Pushing transactions through Soroban can be deactivated by setting NODE_PANDOTX_PUSH=off in docker-node.conf.
  • Processing incoming transactions from Soroban network can be deactivated by setting NODE_PANDOTX_PROCESS=off in docker-node.conf.
• API key management has been introduced to address the growing number of people offering their Dojos to the community. Dojo admins can now access a new API management tab in their DMT, where they can create unlimited API keys, assign labels for easy identification, and set expiration dates for each key. This allows admins to avoid sharing their main API key and instead distribute specific keys to selected parties.
• New API endpoints. Several new API endpoints have been added to help API consumers develop features on Dojo more efficiently:
  • New:
    • /latest-block - returns data about latest block
    • /txout/:txid/:index - returns unspent output data
    • /support/services - returns info about services that Dojo exposes
  • Updated:
    • /tx/:txid - endpoint has been updated to return raw transaction with parameter ?rawHex=1
  • The new /support/services endpoint replaces the deprecated explorer field in the Dojo pairing payload. Although still present, API consumers should use this endpoint for explorer and other pairing data.

Other changes

• Updated ban script to disconnect inbound Knots nodes.
• Updated Fulcrum to v1.12.0.
• Regenerate Fulcrum certificate if expired.
• Check if transaction already exists in pushTx.
• Bump BTC-RPC Explorer.
• Bump Tor to v0.4.8.16, bump Snowflake.
• Updated Bitcoin Core to v29.0.
• Removed unnecessary middleware.
• Fixed DB update mechanism, added api_keys table.
• Add an option to use blocksdir config for bitcoin blocks directory.
• Removed deprecated configuration.
• Updated Node.js dependencies.
• Reconfigured container dependencies.
• Fix Snowflake git URL.
• Fix log path for testnet4.
• Use prebuilt addrindexrs binaries.
• Add instructions to migrate blockchain/fulcrum.
• Added pull policies.

#FREESAMOURAI

Learn how to set up and use your own Bitcoin privacy node with Dojo here.

Announcement / Archive
GitHub Repo

@ cae03c48:2a7d6671

Bitcoin Magazine

Block Announces Bitcoin Business Stack, Makes Historic Lightning Payments Push at Bitcoin 2025 

Bitcoin isn’t just something to hold anymore—it’s something to live on. That was the core message delivered by Miles Suter, Bitcoin Product Lead at Block Inc., during his keynote at the Bitcoin 2025 Conference today. Standing at the intersection of innovation and ideology, Suter laid out a vision where Bitcoin isn’t just a store of value—but the internet’s native currency.

“Bitcoin is at a crossroads—on one hand it’s never been stronger: a trillion in market cap, millions of holders, and even talk of nation-state adoption,” Suter said. “We use Bitcoin to hold, to hedge, to opt out, but we rarely use it to live. At Block Inc., we believe that has to change.”

Suter officially announced that Block is rolling out Bitcoin payment capability for merchants using Square POS, allowing them to accept bitcoin directly in-store. The move comes as part of a broader initiative Block calls the full bitcoin for business stack—covering acquiring, managing, reporting, accounting, converting, lending, and taxes. 

“This is what makes Bitcoin an everyday currency for everyone,” he emphasized. “We believe hard-working entrepreneurs deserve access to the full power of bitcoin.” 

To prove the vision in action, Block helped power a Guinness World Record attempt for the most Lightning payments in a day, hosted live at the conference. The goal: prove that Lightning payments aren’t just functional—they’re scalable, fast, and real.

Block’s commitment isn’t new. In 2020, the company put bitcoin on its balance sheet. In 2021, it co-founded the Bitcoin Clean Energy Initiative to fight the “boiling oceans” narrative. In 2022, Cash App became one of the first major platforms on Lightning. In 2023, it launched on-chain payments with Square. And in 2024, it helped defeat Craig Wright in court, “standing up for Satoshi.”

“These aren’t just headlines—they’re a pattern,” Suter said. “We’ve made it more accessible, more secure. Now we’re focused on making it usable every day.”

Cash App already ranks among the top bitcoin on-ramps in the U.S., accounting for nearly 10% of on-chain block space at any time. In 2024, Lightning usage grew 7x. “Block runs one of the top Lightning nodes globally. And here’s what’s wild—it’s working,” he said. 

Block is now taking 10% of all profits from Bitcoin and adding it back to its balance sheet, and over 1,700 merchants are automatically converting part of their daily sales to Bitcoin.

“If Bitcoin just becomes digital gold, we failed the mission,” Suter said. “Bitcoin payments validate Bitcoin. They make it real. Bitcoin is money.” 

This post Block Announces Bitcoin Business Stack, Makes Historic Lightning Payments Push at Bitcoin 2025  first appeared on Bitcoin Magazine and is written by Jenna Montgomery.

@ 8bad92c3:ca714aa5

Marty's Bent

Last week we covered the bombshell developments in the Samourai Wallet case. For those who didn't read that, last Monday the world was made aware of the fact that the SDNY was explicitly told by FinCEN that the federal regulator did not believe that Samourai Wallet was a money services business six months before arresting the co-founders of Samourai Wallet for conspiracy to launder money and illegally operating a money services business. This was an obvious overstep by the SDNY that many believed would be quickly alleviated, especially considering the fact that the Trump administration via the Department of Justice has made it clear that they do not intend to rule via prosecution.

It seems that this is not the case as the SDNY responded to a letter sent from the defense to dismiss the case by stating that they fully plan to move forward. Stating that they only sought the recommendations of FinCEN employees and did not believe that those employees' comments were indicative of FinCEN's overall views on this particular case. It's a pretty egregious abuse of power by the SDNY. I'm not sure if the particular lawyers and judges within the Southern District of New York are very passionate about preventing the use of self-custody bitcoin and products that enable bitcoiners to transact privately, or if they're simply participating in a broader meta war with the Trump administration - who has made it clear to federal judges across the country that last Fall's election will have consequences, mainly that the Executive Branch will try to effectuate the policies that President Trump campaigned on by any legal means necessary - and Samouari Wallet is simply in the middle of that meta war.

However, one thing is pretty clear to me, this is an egregious overstep of power. The interpretation of that law, as has been laid out and confirmed by FinCEN over the last decade, is pretty clear; you cannot be a money services business if you do not control the funds that people are sending to each other, which is definitely the case with Samourai Wallet. People downloaded Samourai Wallet, spun up their own private-public key pairs and initiated transactions themselves. Samourai never custodied funds or initiated transactions on behalf of their users. This is very cut and dry. Straight to the point. It should be something that anyone with more than two brain cells is able to discern pretty quickly.

It is imperative that anybody in the industry who cares about being able to hold bitcoin in self-custody, to mine bitcoin, and to send bitcoin in a peer-to-peer fashion makes some noise around this case. None of the current administration's attempts to foster innovation around bitcoin in the United States will matter if the wrong precedent is set in this case. If the SDNY is successful in prosecuting Samourai Wallet, it will mean that anybody holding Bitcoin in self-custody, running a bitcoin fold node or mining bitcoin will have to KYC all of their users and counterparts lest they be labeled a money services business that is breaking laws stemming from the Bank Secrecy Act. This will effectively make building a self-custody bitcoin wallet, running a node, or mining bitcoin in tillegal in the United States. The ability to comply with the rules that would be unleashed if this Samourai case goes the wrong way, are such that it will effectively destroy the industry overnight.

It is yet to be seen whether or not the Department of Justice will step in to publicly flog the SDNY and force them to stop pursuing this case. This is the only likely way that the case will go away at this point, so it is very important that bitcoiners who care about being able to self-custody bitcoin, mine bitcoin, or send bitcoin in a peer-to-peer fashion in the United States make it clear to the current administration and any local politicians that this is an issue that you care deeply about. If we are too complacent, there is a chance that the SDNY could completely annihilate the bitcoin industry in America despite of all of the positive momentum we're seeing from all angles at the moment.

Make some noise!

Bitcoin Adoption by Power Companies: The Next Frontier

In my recent conversation with Andrew Myers from Satoshi Energy, he shared their ambitious mission to "enable every electric power company to use bitcoin by block 1,050,000" – roughly three years from now. This strategic imperative isn't just about creating new Bitcoin users; it's about sovereignty. Andrew emphasized that getting Bitcoin into the hands of energy companies who value self-sovereignty creates a more balanced future economic landscape. The excitement was palpable as he described how several energy companies are already moving beyond simply selling power to Bitcoin miners and are beginning to invest in mining operations themselves.

"You have global commodity companies being like, 'Oh, this is another commodity – we want to invest in this, we want to own this,'" - Andrew Myers

Perhaps most fascinating was Andrew's revelation about major energy companies in Texas developing Bitcoin collateral products for power contracts – a practical application that could revolutionize how energy transactions are settled. As energy companies continue embracing Bitcoin for both operations and collateral, we're witnessing the early stages of a profound shift in how critical infrastructure interfaces with sound money. The implications for both sectors could be transformative.

Check out the full podcast here for more on remote viewing, Nikola Tesla's predictions, and the convergence of Bitcoin and AI technology. We cover everything from humanoid robots to the energy demands of next-generation computing.

Headlines of the Day

Steak n Shake to Accept Bitcoin at All Locations May 16 - via X

Facebook Plans Crypto Wallets for 3B Users, Bitcoin Impact Looms - via X

Trump Urges Americans to Buy Stocks for Economic Boom - via X

UK Drops Tariffs, U.S. Farmers Set to Reap Major Benefits - via X

---

Looking for the perfect video to push the smartest person you know from zero to one on bitcoin? Bitcoin, Not Crypto is a three-part master class from Parker Lewis and Dhruv Bansal that cuts through the noise—covering why 21 million was the key technical simplification that made bitcoin possible, why blockchains don’t create decentralization, and why everything else will be built on bitcoin.

Sign Up

Ten31, the largest bitcoin-focused investor, has deployed $150M across 30+ companies through three funds. I am a Managing Partner at Ten31 and am very proud of the work we are doing. Learn more at ten31.vc/invest.

---

Final thought...

Happy belated Mother's Day to all the moms out there.

---

Get this newsletter sent to your inbox daily: https://www.tftc.io/bitcoin-brief/

Subscribe to our YouTube channels and follow us on Nostr and X:

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@ 8bad92c3:ca714aa5

Marty's Bent

via Kevin McKernan

There's been a lot of discussion this week about Casey Means being nominated for Surgeon General of the United States and a broader overarching conversation about the effectiveness of MAHA since the inauguration and how effective it may or may not be moving forward. Many would say that President Trump won re-election due to Robert F. Kennedy Jr. and Nicole Shanahan deciding to reach across the aisle and join the Trump ticket, bringing with them the MAHA Moms, who are very focused on reorienting the healthcare system in the United States with a strong focus on the childhood vaccine schedule.

I'm not going to lie, this is something I'm passionate about as well, particularly after having many conversations over the years with doctors like Kevin McKernan, Dr. Jack Kruse, Dr. Mary Talley Bowden, Dr. Brooke Miller, Dr. Peter McCullough and others about the dangers of the COVID mRNA vaccines. As it stands today, I think this is the biggest elephant in the room in the world of healthcare. If you look at the data, particularly disability claims, life insurance claims, life expectancy, miscarriage rates, fertility issues and rates of turbo cancer around the world since the COVID vaccine was introduced in 2021, it seems pretty clear that there is harm being done to many of the people who have taken them.

The risk-reward ratio of the vaccines seems to be incredibly skewed towards risk over reward and children - who have proven to be least susceptible to COVID - are expected to get three COVID shots in the first year of their life if their parents follow the vaccine schedule. For some reason or another it seems that Robert F. Kennedy Jr. has shied away from this topic after becoming the head of Health and Human Services within the Trump administration. This is after a multi-year campaign during which getting the vaccines removed from the market war a core part of his platform messaging.

I'm still holding out hope that sanity will prevail. The COVID mRNA vaccines will be taken off the market in a serious conversation about the crimes against humanity that unfolded during the COVID years will take place. However, we cannot depend on that outcome. We must build with the assumption in mind that that outcome may never materialize. This leads to identifying where the incentives within the system are misconstrued. One area where I think it's pretty safe to say that the incentives are misaligned is the fact that 95% of doctors work for and answer to a corporation driven by their bottom line. Instead of listening to their patients and truly caring about the outcome of each individual, doctors forced to think about the monetary outcome of the corporation they work for first.

The most pernicious way in which these misaligned incentives emerge is the way in which the hospital systems and physicians are monetarily incentivized by big pharma companies to push the COVID vaccine and other vaccines on their patients. It is important to acknowledge that we cannot be dependent on a system designed in this way to change from within. Instead, we must build a new incentive system and market structure. And obviously, if you're reading this newsletter, you know that I believe that bitcoin will play a pivotal role in realigning incentives across every industry. Healthcare just being one of them.

Bitcoiners have identified the need to become sovereign in our monetary matters, it probably makes sense to become sovereign when it comes to our healthcare as well. This means finding doctors who operate outside the corporate controlled system and are able to offer services that align incentives with the end patient. My family utilizes a combination of CrowdHealth and a private care physician to align incentives. We've even utilized a private care physician who allowed us to pay in Bitcoin for her services for a number of years. I think this is the model. Doctors accepting hard censorship resistant money for the healthcare and advice they provide. Instead of working for a corporation looking to push pharmaceutical products on their patients so they can bolster their bottom line, work directly with patients who will pay in bitcoin, which will appreciate in value over time.

I had a lengthy discussion with Dr. Jack Kruse on the podcast earlier today discussing these topic and more. It will be released on Thursday and I highly recommend you freaks check it out once it is published. Make sure you subscribe so you don't miss it.

How the "Exorbitant Privilege" of the Dollar is Undermining Our Manufacturing Base

In my conversation with Lyn Alden, we explored America's fundamental economic contradiction. As Lyn expertly explained, maintaining the dollar's reserve currency status while attempting to reshore manufacturing presents a near-impossible challenge - what economists call Triffin's Dilemma. The world's appetite for dollars gives Americans tremendous purchasing power but simultaneously hollows out our industrial base. The overvalued dollar makes our exports less competitive, especially for lower-margin manufacturing, while our imports remain artificially strong.

"Having the reserve currency does come with a bunch of benefits, historically called an exorbitant privilege, but then it has certain costs to maintain it." - Lyn Alden

This dilemma forces America to run persistent trade deficits, as this is how dollars flow to the world. For over four decades, these deficits have accumulated, creating massive economic imbalances that can't be quickly reversed. The Trump administration's attempts to address this through tariffs showcase how difficult rebalancing has become. As Lyn warned, even if we successfully pivot toward reshoring manufacturing, we'll face difficult trade-offs: potentially giving up some reserve currency benefits to rebuild our industrial foundation. This isn't just economic theory - it's the restructuring challenge that will define America's economic future.

Check out the full podcast here for more on China's manufacturing dominance, the role of Bitcoin in monetary transitions, and energy production as the foundation for future industrial power.

Headlines of the Day

Coinbase to replace Discover in S&P 500 on May 19 - via X

Mallers promises no rehypothecation in Strike Bitcoin loans - via X

Get our new STACK SATS hat - via tftcmerch.io

Missouri passes HB 594, eliminates Bitcoin capital gains tax - via X

---

The 2025 Bitcoin Policy Summit is set for June 25th—and it couldn’t come at a more important time. The Bitcoin industry is at a pivotal moment in Washington, with initiatives like the Strategic Bitcoin Reserve gaining rapid traction. Whether you’re a builder, advocate, academic, or policymaker—we want you at the table. Join us in DC to help define the future of freedom, money & innovation in the 21st century.

Sign Up

---

Ten31, the largest bitcoin-focused investor, has deployed $150M across 30+ companies through three funds. I am a Managing Partner at Ten31 and am very proud of the work we are doing. Learn more at ten31.vc/invest.

---

Final thought...

The 100+ degree days have returned to Austin, TX. Not mad about it... yet.

---

Get this newsletter sent to your inbox daily: https://www.tftc.io/bitcoin-brief/

Subscribe to our YouTube channels and follow us on Nostr and X:

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@ cae03c48:2a7d6671

Bitcoin Magazine

Adam Back Presents Blockstream’s Bitcoin-First Infrastructure Vision at Bitcoin 2025 

Adam Back, Co-founder and CEO of Blockstream, took the stage at the Bitcoin 2025 Conference with a clear message: Bitcoin is becoming the foundation of global finance—and Blockstream is building the infrastructure to support it. 

“So I think Bitcoin is still early,” Back began, “but more mainstream players are starting to become involved. It is starting to become the foundation of global finance.” From El Salvador’s President becoming “patient zero” to institutional adoption spreading rapidly, Back emphasized that “people in all layers of company management and politics have become orange-pilled.”

Citing Bitcoin’s accelerating growth trajectory, Back referenced Hal Finney’s prediction that Bitcoin’s addressable market could hit $200 trillion. “Today, we are a lot closer to that situation,” he noted. He alluded again that this is just the beginning for Bitcoin. 

To meet that growing demand, Back announced Blockstream’s plan to support the journey from 100 million to 1 billion users by simplifying self-custody and Bitcoin-native asset management. “We’re laser-focused on Bitcoin,” he said. “At Blockstream, we are here to provide the infrastructure to enable that.” 

In a detailed presentation, Back outlined five core pillars powering Blockstream’s strategy:

• Infrastructure Expansion: “Bitcoin is becoming the dominant financial asset and platform for global transactions. Blockstream enables and supports the infrastructure around it.”

• Unified Platform: Blockstream is developing one platform built for the Bitcoin economy—including consumer products (secure self-custody), enterprise solutions (asset transfer on Bitcoin rails), and institutional integration (custody for large-scale investment).

• The Blockstream App: Designed to streamline self-custody, the app simplifies onboarding, supports BTC, LBTC, and USDT, and offers advanced features for experienced users.

• Enterprise Tools: With custody, tokenization without smart contract risks, and SDK/API-ready infrastructure, Blockstream is pushing enterprise-grade Bitcoin use cases—from corporate finance to treasuries.

• Security and Ecosystem Design: “Secure, proven, and built to last,” Back said, referring to Blockstream’s Bitcoin-first architecture. “Security is our cornerstone, and every product connects at every layer.”

In closing, Back reaffirmed his long-term vision: “The future of finance runs on Bitcoin.” 

This post Adam Back Presents Blockstream’s Bitcoin-First Infrastructure Vision at Bitcoin 2025  first appeared on Bitcoin Magazine and is written by Jenna Montgomery.

@ cae03c48:2a7d6671

Bitcoin Magazine

Eric Trump Said Everybody Wants Bitcoin. Everybody is Buying Bitcoin

At the 2025 Bitcoin Conference in Las Vegas, the Executive Chairman & Board Member of American Bitcoin Mike Ho, the CEO of American Bitcoin Matt Prusak, the founder of Altcoin Daily Aaron Arnold, Donald Trump Jr. and Eric Trump discussed the future of Bitcoin and their views.

Eric Trump started the panel by saying, “we are bringing Bitcoin to America and America is going to win the crypto revolution.” 

Donald continued by mentioning the $2.5 billion bitcoin treasury.

“All the announcement yesterday, True Social and TMTG committing $2.5 billion to a bitcoin treasury,” stated Trump Jr. “Then the trifecta of crypto you have is what we are doing with the world liberty and USD1 from a DeFi platform. We are very long crypto.”

Eric talked about how all the world wants Bitcoin and that most companies are having problems when buying Bitcoin because there is a lot of demand and not as much supply.
“Everybody wants Bitcoin. Everybody is buying Bitcoin,” Eric stated.

JUST IN: Eric Trump says "everyone in the world wants #Bitcoin, everybody is buying Bitcoin"

"0.1 BTC is going to be worth an absolute fortune" pic.twitter.com/0942a3dSWI

— Bitcoin Magazine (@BitcoinMagazine) May 28, 2025

“The whole system is broken and now all of the sudden you have crypto which solves all the problems,” commented Eric. “It makes everything cheaper, it makes everything faster, it makes it safer, it makes it more transparent. It makes the whole system more functional.“

Mike Ho explained his view of the volatility of Bitcoin and how it benefits everybody.

“We see Bitcoin mining as just the foundational layer of being able to accumulate more creative Bitcoin for our shareholders at a discount to what the market can buy Bitcoin for,” commented Ho. “Then there is a value in the volatility of the stock. Usually volatility carries a negative connotation, but in here it’s the volatility that allows us to raise very low cost converts to even accelerate accumulation of Bitcoin.”

Matt Prusak mentioned how they are stacking sats and accumulating as much Bitcoin as they can.

“We are looking for ways to accumulate as much Bitcoin as fast as possible,” said Prusak. “We are stacking sats for our mining operations. We are going to stack sats for the accumulation.”

They all made predictions of Bitcoin’s end price of this year, Eric said $170,000, Trump Jr between $150,000 and $175,000 and Mike Ho over $200,000. Eric finalized with, “the next 10 years are going to be absolutely parabolical.”

This post Eric Trump Said Everybody Wants Bitcoin. Everybody is Buying Bitcoin first appeared on Bitcoin Magazine and is written by Oscar Zarraga Perez.

@ 8bad92c3:ca714aa5

Marty's Bent

via me

It seems like every other day there's another company announced that is going public with the intent of competing with Strategy by leveraging capital markets to create financial instruments to acquire Bitcoin in a way that is accretive for shareholders. This is certainly a very interesting trend, very bullish for bitcoin in the short-term, and undoubtedly making it so bitcoin is top of mind in the mainstream. I won't pretend to know whether or not these strategies will ultimately be successful or fail in the short, medium or long term. However, one thing I do know is that the themes that interest me, both here at TFTC and in my role as Managing Partner at Ten31, are companies that are building good businesses that are efficient, have product-market-fit, generate revenues and profits and roll those profits into bitcoin.

While it seems pretty clear that Strategy has tapped into an arbitrage that exists in capital markets, it's not really that exciting. From a business perspective, it's actually pretty straightforward and simple; find where potential arbitrage opportunities exists between pools of capital looking for exposure to spot bitcoin or bitcoin's volatility but can't buy the actual asset, and provide them with products that give them access to exposure while simultaneously creating a cult-like retail following. Rinse and repeat. To the extent that this strategy is repeatable is yet to be seen. I imagine it can expand pretty rapidly. Particularly if we have a speculative fervor around companies that do this. But in the long run, I think the signal is falling back to first principles, looking for businesses that are actually providing goods and services to the broader economy - not focused on the hyper-financialized part of the economy - to provide value and create efficiencies that enable higher margins and profitability.

With this in mind, I think it's important to highlight the combined leverage that entrepreneurs have by utilizing bitcoin treasuries and AI tools that are emerging and becoming more advanced by the week. As I said in the tweet above, there's never been a better time to start a business that finds product-market fit and cash flows quickly with a team of two to three people. If you've been reading this rag over the last few weeks, you know that I've been experimenting with these AI tools and using them to make our business processes more efficient here at TFTC. I've also been using them at Ten31 to do deep research and analysis.

It has become abundantly clear to me that any founder or entrepreneur that is not utilizing the AI tools that are emerging is going to get left behind. As it stands today, all anyone has to do to get an idea from a thought in your head to the prototype stage to a minimum viable product is to hop into something like Claude or ChatGPT, have a brief conversation with an AI model that can do deep research about a particular niche that you want to provide a good service to and begin building.

Later this week, I will launch an app called Opportunity Cost in the Chrome and Firefox stores. It took me a few hours of work over the span of a week to ideate and iterate on the concept to the point where I had a working prototype that I handed off to a developer who is solving the last mile problem I have as an "idea guy" of getting the product to market. Only six months ago, accomplishing something like this would have been impossible for me. I've never written a line of code that's actually worked outside of the modded MySpace page I made back in middle school. I've always had a lot of ideas but have never been able to effectively communicate them to developers who can actually build them. With a combination of ChatGPT-03 and Replit, I was able to build an actual product that works. I'm using it in my browser today. It's pretty insane.

There are thousands of people coming to the same realization at the same time right now and going out there and building niche products very cheaply, with small teams, they are getting to market very quickly, and are amassing five figures, six figures, sometimes seven figures of MRR with extremely high profit margins. What most of these entrepreneurs have not really caught on to yet is that they should be cycling a portion - in my opinion, a large portion - of those profits into bitcoin. The combination of building a company utilizing these AI tools, getting it to market, getting revenue and profits, and turning those profits into bitcoin cannot be understated. You're going to begin seeing teams of one to ten people building businesses worth billions of dollars and they're going to need to store the value they create, any money that cannot be debased.

Grant Gilliam, one of the co-founders of Ten31, wrote about this in early 2024, bitcoin being the fourth lever of equity value growth for companies.

[

Bitcoin Treasury - The Fourth Lever to Equity Value Growth

Most companies do not hold enough bitcoin There is a saying you often hear in bitcoin circles that “you can never have enough bitcoin.” This is typically expressed by those who have spent the time to both understand bitcoin’s unique and superior monetary properties and also to appreciate why tho

Ten31 - Investors in bitcoin infrastructure and freedom techGrant Gilliam

](https://ten31.vc/insights/treasury?ref=tftc.io)

We already see this theme playing out at Ten31 with some of our portfolio companies, most notably Strike, which recently released some of their financials, highlighting the fact that they're extremely profitable with high margins and a relatively small team (~75). This is extremely impressive, especially when you consider the fact that they're a global company competing with the likes of Coinbase and Block, which have each thousands of employees.

Even those who are paying attention to the developments in the AI space and how the tools can enable entrepreneurs to build faster aren't really grasping the gravity of what's at play here. Many are simply thinking of consumer apps that can be built and distributed quickly to market, but the ways in which AI can be implemented extend far beyond the digital world. Here's a great example of a company a fellow freak is building with the mindset of keeping the team small, utilizing AI tools to automate processes and quickly push profits into bitcoin.

via Cormac

Again, this is where the exciting things are happening in my mind. People leveraging new tools to solve real problems to drive real value that ultimately produce profits for entrepreneurs. The entrepreneurs who decide to save those profits in bitcoin will find that the equity value growth of their companies accelerates exponentially as they provide more value, gain more traction, and increase their profits while also riding the bitcoin as it continues on its monetization phase. The compounded leverage of building a company that leverages AI tools and sweeps profits into bitcoin is going to be the biggest asymmetric play of the next decade. Personally, I also see it as something that's much more fulfilling than the pure play bitcoin treasury companies that are coming to market because consumers and entrepreneurs are able to recive and provide a ton of value in the real economy.

If you're looking to stay on top of the developments in the AI space and how you can apply the tools to help build your business or create a new business, I highly recommend you follow somebody like Greg Isenberg, whose Startup Ideas Podcast has been incredibly valuable for me as I attempt to get a lay of the land of how to implement AI into my businesses.

America's Two Economies

In my recent podcast with Lyn Alden, she outlined how our trade deficits create a cycle that's reshaping America's economic geography. As Alden explained, US trade deficits pump dollars into international markets, but these dollars don't disappear - they return as investments in US financial assets. This cycle gradually depletes industrial heartlands while enriching financial centers on the coasts, creating what amounts to two separate American economies.

"We're basically constantly taking economic vibrancy out of Michigan and Ohio and rural Pennsylvania where the steel mills were... and stuffing it back into financial assets in New York and Silicon Valley." - Lyn Alden

This pattern has persisted for over four decades, accelerating significantly since the early 1980s. Alden emphasized that while economists may argue there's still room before reaching a crisis point, the political consequences are already here. The growing divide between these two Americas has fueled populist sentiment as voters who feel left behind seek economic rebalancing, even if they can't articulate the exact mechanisms causing their hardship.

Check out the full podcast here for more on China's man

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Bitcoin Magazine

Adam Back Said It’s Still Early For the Retail Investors To Buy Bitcoin

At the 2025 Bitcoin Conference in Las Vegas, the Head of Firmwide Research at Galaxy Digital Alex Thorn, Founder and Managing Partner of Pantera Capital Dan Morehead, Managing Partner, CEO, CIO of 10T Holdings + 1RoundTable Partners Dan Tapiero and the Co-founder & CEO of Blockstream Adam Back discussed the future of Bitcoin treasury companies.

Dan Tapiero started by sharing his opinion on how he sees Bitcoin in comparison to gold: 

“I really have always believed in that physical ownership that the individual has the right and should be able to own his own asset and so I started this physical gold business years ago,” said Tapiero. “I think our focus today is further adoption and the elevation of Bitcoin. I think the understanding of Bitcoin as an important asset.”

Adam Back was asked what he thought about Bitcoin treasury companies and he responded, “in effect, Blockstream is one of the first Bitcoin treasury companies. We have been around since 2014 and we work with our investors to put Bitcoin in a balance sheet back then and since then. I think the way to look at the treasury companies is Bitcoin is effectively the harder rate. It’s very hard to outperform Bitcoin most people that invest in things since Bitcoin around thought I should put that in Bitcoin and not in the other thing.”

Then Adam continued by explaining what treasury companies do.

“That’s why you get companies switching to the Bitcoin standard because it’s the only way for them to keep up with Bitcoin,” stated Back. ”They start with a Bitcoin capital base. They use the operating in-revenue to buy more Bitcoin and then they are able to participate in this kind of micro arbitrage.”

Finishing the panel, Alex Thorn asked, “Five years from now what is the price of Bitcoin?”

Dan Morehead predicted $750,000k, Tapiero $1,000,000 and Back said, “a million easy.”

Adam back closed by saying, “It’s still early for the retail investors.”

You can watch the full panel discussion and the rest of the Bitcoin 2025 Conference Day 2 below:

This post Adam Back Said It’s Still Early For the Retail Investors To Buy Bitcoin first appeared on Bitcoin Magazine and is written by Oscar Zarraga Perez.

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Bitcoin Magazine

Saifedean Ammous: “Nothing Stops This Train” – Tether, Bitcoin, and the Endgame for the Dollar

Saifedean Ammous, CEO of Saifedean.com and author of The Bitcoin Standard, delivered a data-driven keynote at the Bitcoin 2025 Conference, warning of inevitable U.S. dollar decline and positioning Bitcoin as the only rational hedge. “Default, devaluation, or default by devaluation are inevitable,” Ammous declared, adding pointedly, “Tether can’t fix what a century of fiat democracy ruined.”

Using projections and flow charts, Ammous argued that Tether’s Bitcoin strategy could soon outpace its U.S. dollar reserves. “Then Tether will break the peg upwards,” he said, predicting a scenario where 1 USDT could equal 1.02 USD and continue revaluing as the dollar weakens. “Tether becomes a relatively stablecoin as the dollar declines.”

The talk emphasized what Ammous described as a self-reinforcing loop: as USDT demand rises, so does Tether’s need for BTC reserves, which drives up Bitcoin prices—leading to even more revaluation. “This is a significant impact on the market,” he said. “Buying bitcoin is the smartest thing anybody could do.”

In a final sweeping statement, Ammous forecasted the end of the USD era. “Eventually, USD reserves go to zero next to BTC reserves,” he said. “USDT keeps getting revalued upward until it is redeemable in bitcoin. USDT → BTCT.” He called Tether a “transition monetary system” and concluded, “Even the most bullish scenario for USD is much more bullish for BTC.” 

To Ammous, the dollar is locked in a downward spiral while Bitcoin, with its “number go up technology,” continues rising. “The thing that goes up is going to overtake the thing that goes down,” he said—summarizing his entire argument in one sentence.

This post Saifedean Ammous: “Nothing Stops This Train” – Tether, Bitcoin, and the Endgame for the Dollar first appeared on Bitcoin Magazine and is written by Jenna Montgomery.

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Bitcoin Magazine

The World’s Largest Bitcoin Conference Returns to Las Vegas in 2026

May 28, 2025 – BTC Inc., the leading provider of Bitcoin-related news and events, is excited to announce that the Bitcoin Conference, the world’s largest and most prestigious gathering of the Bitcoin industry, will be returning to Las Vegas next year. Next year’s conference will take place at the Venetian Las Vegas from April 27 – 29, 2026.

The announcement comes on the heels of a highly successful Bitcoin 2025 event, which saw over 35,000 attendees descend to Las Vegas to participate in valuable networking and community building events, experience leading-edge technology showcases, and hear insights from policy leaders, business executives, and celebrities across the Bitcoin industry.

“Bitcoin 2025 was the largest event in Bitcoin’s history and arrived at a pivotal moment for the industry,” said Brandon Green, Chief of Staff at BTC Inc. “Next year, we are going to compound it into not only the biggest event in Bitcoin’s history, but one of the largest and most important events globally.”

“Our city and state were delighted to host the Bitcoin conference this year,” said Governor Joe Lombardo. “Las Vegas is home to groundbreaking innovation and exciting new ideas, and we’re the perfect forum for the 2026 Bitcoin conference. We look forward to welcoming the conference to our state again next year.”

Tickets for Bitcoin 2026 are available for purchase on the official conference website. Interested individuals and organizations are encouraged to secure their spots early, as demand is expected to be unprecedented. 

For sponsorship opportunities, media inquiries, or further information about The Bitcoin Conference, please contact us or visit https://b.tc/conference/2026. 

About The Bitcoin Conference: 

The Bitcoin Conference is the world’s largest and most influential gathering of Bitcoin professionals, investors, and thought leaders. Committed to fostering Bitcoin adoption and industry innovation, the conference has grown into a global phenomenon since its founding in 2019. Learn more at https://b.tc/conference/2026

This post The World’s Largest Bitcoin Conference Returns to Las Vegas in 2026 first appeared on Bitcoin Magazine and is written by Bitcoin Magazine.

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Bitcoin Magazine

🔴 LIVE: The Bitcoin Conference 2025 – Day 3

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This post 🔴 LIVE: The Bitcoin Conference 2025 – Day 3 first appeared on Bitcoin Magazine and is written by Bitcoin Magazine.

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Bitcoin Magazine

Ark Labs Launches Arkade, a New Native Operating System Using Bitcoin

Ark Labs has officially launched Arkade, a Bitcoin-native execution layer designed to unlock programmable financial applications using Bitcoin as it exists today. The announcement comes after a $2.5 million pre-seed funding round in August 2024, led by Tim Draper with support from Fulgur Ventures and Axiom. 

Arkade aims to create a new way to build directly on Bitcoin, letting developers build fast and scalable apps—without needing sidechains, wrapped tokens, or any changes to the core Bitcoin protocol. 

“Bitcoin is the world’s hardest, most secure asset, but it remains largely static,” said Marco Argentieri, CEO of Ark Labs. “Arkade virtualizes Bitcoin’s transaction layer, transforming it into a dynamic financial platform where operations happen instantly, programmability is unlocked, and users maintain full control of their assets throughout.” 

Arkade is currently being tested on the Bitcoin network with early partners like Tether, Boltz, Breez, and Mempool.space already on board. Arkade maintains Bitcoin’s core security model and avoids alternatives like wrapped tokens or new consensus mechanisms. 

Tim Draper, founder and managing partner of Draper Associates, noted: “Bitcoin is fast emerging as the world’s premier digital asset. Arkade’s virtualization approach finally brings the programmability Bitcoin needs to transform from a store of value into a permissionless financial system.”

Ark Labs says demand has been strong since January, with multiple projects requesting integration. The company plans to expand Arkade’s toolkit in the coming months, with support for BTC-collateralized lending, staking primitives, and multi-asset transactions. The launch is scheduled for Q3 2025. 

“Bitcoin has always had to balance the desire to scale transaction throughput and complexity with conservatism regarding upgrades,” said Allen Farrington, General Partner at Axiom. “With this exceptionally high bar for worthwhile innovation, and amidst a sea of noise, Ark Labs is bringing to market what may prove to be the most important technical breakthrough in the space since the Lightning Network.” 

You can watch the full keynote below.

This post Ark Labs Launches Arkade, a New Native Operating System Using Bitcoin first appeared on Bitcoin Magazine and is written by Jenna Montgomery.

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Bitcoin Magazine

SEC Commissioner Hester Peirce Says “We Can’t Ignore It” in Bitcoin 2025 Fireside Talk 

At the Bitcoin 2025 Conference this morning, U.S. Securities and Exchange Commissioner Hester Peirce took the stage with Fold’s General Counsel Hailey Lennon for a fireside chat that pulled no punches.

Opening with a question about enforcement priorities since the change in administration, Lennon asked, “What are the current enforcement priorities, if any, in the digital asset space?” Peirce acknowledged the public’s frustration: “Some people have taken the fact that we haven’t moved forward with a ton of these cases as inaction—but there’s a lot to digest.” She stressed that the agency is actively bringing in outside perspectives, stating, “That’s really the way to get to good rules.” 

A core theme of the conversation was regulatory uncertainty. “One complaint I’ve had,” Peirce said, “is that in an environment of regulatory uncertainty, it’s much harder to identify bad actors—and it gives them more room to operate. Meanwhile, it pushes legitimate actors out of the U.S. or out of the industry entirely. We need to create a good environment for the good actors and a bad one for the bad actors.” 

Peirce also addressed her recent tweet hinting at disclosure requirements for projects potentially considered securities. 

Here's what the Crypto Task Force has been doing and some things we're thinking about: https://t.co/YHXAYhr23P

— Hester Peirce (@HesterPeirce) May 19, 2025

When asked about the explosion of memecoins and speculative tokens, Peirce didn’t hold back: “If you’re expecting to buy a memecoin and become a billionaire—buyer beware. Be an adult. If you want to speculate, go for it, but if something goes wrong, don’t come complaining to the government.” This confirms the value, and security of Bitcoin. 

She emphasized the importance of community participation, noting that “government works for the people,” and encouraged attendees to weigh in on issues like surveillance and financial freedom. “In the United States, we are all about freedom. Freedom to innovate. Your voices are so important for helping us think through these issues.” 

Peirce’s remarks echo the statements that JD Vance touched on yesterday during his speech at the Bitcoin 2025 Conference. They both emphasized that we, the American people, have the power to transform the traditional financial system, and fuel Bitcoin. 

Discussing Bitcoin’s growing presence in traditional finance, Lennon asked whether the SEC is prepared for that convergence. Peirce replied, “We can’t ignore it. When people are free to use something, it will eventually be incorporated into traditional financial products. We need to think about how it interacts with our regulatory framework—but the key is preserving people’s ability to transfer value on their own terms.”

Looking ahead, Peirce left attendees with a powerful reminder: “You don’t have to wait for the government. Demand transparency. Learn from failures. Pick yourself up, dust yourself off, and do better next time.” 

You can watch the full panel discussion and the rest of the Bitcoin 2025 Conference Day 3 below:

This post SEC Commissioner Hester Peirce Says “We Can’t Ignore It” in Bitcoin 2025 Fireside Talk  first appeared on Bitcoin Magazine and is written by Jenna Montgomery.

@ 91117f2b:111207d6

Regular excerise offers numerous benefits for both body and mind. Some key advantages:

Physical benefits 1. Weight management: excerise helps maintain a healthy weight and balance reducing the risk of obesity-related diseases. 2. Cardiovascular health: regular and physical activities strengthens the heart, Lowers blood pressure and improves circulation of blood. 3. Improved sleep: physical activities promotes better sleep quality, duration and depth. 4. Increased strength 💪 and flexibility : excerise builds muscle mass, enhances flexibility and also boost bone density.

Mental and emotional benefits:

1. Boosted self-esteem: regular and physical excerise foster a sense of accomplishment and confidence.
2. Enhanced cognitive function: excerise improves concentration, memory and problem-solving skill.
3. Reduced strength and anxiety: excerise releases endorphins, which helps to alleviate or reduce stress and anxiety.
4. Improved mood: physical activities boosts serotonin levels, enhancing over-all mood and reducing any symptoms of depression.

Tips for incorporating or adding excerise into your routine:

1. Find an activity you enjoy: engage in activity you enjoy, whether it's swimming, running or even dancing.
2. Schedule it: make excerise a priority by incorporating it into your daily routine.
3. Start small: begin your excerise with manageable goals and gradually increase the intensity and duration.
4. Mix it up: vary your workout routine to avoid boredom and avoid plateau.

Sometimes excerising may seem a little stressful, but it's all about endurance and perseverance, to achieve your goal.

@ dfa02707:41ca50e3

Contribute to keep No Bullshit Bitcoin news going.

• The latest firmware updates for COLDCARD devices introduce two major features: COLDCARD Co-sign (CCC) and Key Teleport between two COLDCARD Q devices using QR codes and/or NFC with a website.

What's new

• COLDCARD Co-Sign: When CCC is enabled, a second seed called the Spending Policy Key (Key C) is added to the device. This seed works with the device's Main Seed and one or more additional XPUBs (Backup Keys) to form 2-of-N multisig wallets.
  • The spending policy functions like a hardware security module (HSM), enforcing rules such as magnitude and velocity limits, address whitelisting, and 2FA authentication to protect funds while maintaining flexibility and control, and is enforced each time the Spending Policy Key is used for signing.
  • When spending conditions are met, the COLDCARD signs the partially signed bitcoin transaction (PSBT) with the Main Seed and Spending Policy Key for fund access. Once configured, the Spending Policy Key is required to view or change the policy, and violations are denied without explanation.

"You can override the spending policy at any time by signing with either a Backup Key and the Main Seed or two Backup Keys, depending on the number of keys (N) in the multisig."

• A step-by-step guide for setting up CCC is available here.

• Key Teleport for Q devices allows users to securely transfer sensitive data such as seed phrases (words, xprv), secure notes and passwords, and PSBTs for multisig. It uses QR codes or NFC, along with a helper website, to ensure reliable transmission, keeping your sensitive data protected throughout the process.

  • For more technical details, see the protocol spec.

"After you sign a multisig PSBT, you have option to “Key Teleport” the PSBT file to any one of the other signers in the wallet. We already have a shared pubkey with them, so the process is simple and does not require any action on their part in advance. Plus, starting in this firmware release, COLDCARD can finalize multisig transactions, so the last signer can publish the signed transaction via PushTX (NFC tap) to get it on the blockchain directly."

• Multisig transactions are finalized when sufficiently signed. It streamlines the use of PushTX with multisig wallets.
• Signing artifacts re-export to various media. Users are now provided with the capability to export signing products, like transactions or PSBTs, to alternative media rather than the original source. For example, if a PSBT is received through a QR code, it can be signed and saved onto an SD card if needed.
• Multisig export files are signed now. Public keys are encoded as P2PKH address for all multisg signature exports. Learn more about it here.
• NFC export usability upgrade: NFC keeps exporting until CANCEL/X is pressed.
• Added Bitcoin Safe option to Export Wallet.
• 10% performance improvement in USB upload speed for large files.
• Q: Always choose the biggest possible display size for QR.

Fixes

• Do not allow change Main PIN to same value already used as Trick PIN, even if Trick PIN is hidden.
• Fix stuck progress bar under Receiving... after a USB communications failure.
• Showing derivation path in Address Explorer for root key (m) showed double slash (//).
• Can restore developer backup with custom password other than 12 words format.
• Virtual Disk auto mode ignores already signed PSBTs (with “-signed” in file name).
• Virtual Disk auto mode stuck on “Reading…” screen sometimes.
• Finalization of foreign inputs from partial signatures. Thanks Christian Uebber!
• Temporary seed from COLDCARD backup failed to load stored multisig wallets.
• Destroy Seed also removes all Trick PINs from SE2.
• Lock Down Seed requires pressing confirm key (4) to execute.
• Q only: Only BBQr is allowed to export Coldcard, Core, and pretty descriptor.

Blog Post / Archive
GitHub Repo
CCC Guide
Key Teleport site

@ dfa02707:41ca50e3

Contribute to keep No Bullshit Bitcoin news going.

• RoboSats v0.7.7-alpha is now available!

NOTE: "This version of clients is not compatible with older versions of coordinators. Coordinators must upgrade first, make sure you don't upgrade your client while this is marked as pre-release."

• This version brings a new and improved coordinators view with reviews signed both by the robot and the coordinator, adds market price sources in coordinator profiles, shows a correct warning for canceling non-taken orders after a payment attempt, adds Uzbek sum currency, and includes package library updates for coordinators.

Source: RoboSats.

• siggy47 is writing daily RoboSats activity reviews on stacker.news. Check them out here.
• Stay up-to-date with RoboSats on Nostr.

What's new

• New coordinators view (see the picture above).
• Available coordinator reviews signed by both the robot and the coordinator.
• Coordinators now display market price sources in their profiles.

Source: RoboSats.

• Fix for wrong message on cancel button when taking an order. Users are now warned if they try to cancel a non taken order after a payment attempt.
• Uzbek sum currency now available.
• For coordinators: library updates.
• Add docker frontend (#1861).
• Add order review token (#1869).
• Add UZS migration (#1875).
• Fixed tests review (#1878).
• Nostr pubkey for Robot (#1887).

New contributors

• @hexlorn made their first contribution in #1858.
• @umk0m1qk made their first contribution in #1864.

Full Changelog: v0.7.6-alpha...v0.7.7-alpha

GitHub Repo

@ dfa02707:41ca50e3

Contribute to keep No Bullshit Bitcoin news going.

• Version 1.3 of Bitcoin Safe introduces a redesigned interactive chart, quick receive feature, updated icons, a mempool preview window, support for Child Pays For Parent (CPFP) and testnet4, preconfigured testnet demo wallets, as well as various bug fixes and improvements.

• Upcoming updates for Bitcoin Safe include Compact Block Filters.

"Compact Block Filters increase the network privacy dramatically, since you're not asking an electrum server to give you your transactions. They are a little slower than electrum servers. For a savings wallet like Bitcoin Safe this should be OK," writes the project's developer Andreas Griffin.

• Learn more about the current and upcoming features of Bitcoin Safe wallet here.

What's new in v1.3

• Redesign of Chart, Quick Receive, Icons, and Mempool Preview (by @design-rrr).
• Interactive chart. Clicking on it now jumps to transaction, and selected transactions are now highlighted.

• Speed up transactions with Child Pays For Parent (CPFP).
• BDK 1.2 (upgraded from 0.32).
• Testnet4 support.
• Preconfigured Testnet demo wallets.
• Cluster unconfirmed transactions so that parents/children are next to each other.
• Customizable columns for all tables (optional view: Txid, Address index, and more)
• Bug fixes and other improvements.

Announcement / Archive
Blog Post / Archive
GitHub Repo
Website

@ 8bad92c3:ca714aa5

Key Takeaways

Dr. Jack Kruse returns in this fiery episode to expose what he alleges is a coordinated campaign by Big Pharma, technocrats, and global elites to control public health narratives and financial systems through manipulated health policies and propaganda. He accuses figures like Calli and Casey Means of fronting a compromised "Maha Movement," backed by A16Z, Big Tech, and the World Economic Forum, with ambitions to embed themselves into U.S. health policy and bioweapons programs. Kruse details his covert efforts to expose these connections, claiming they led to the withdrawal of Casey Means' Surgeon General nomination, and warns of a looming biotechnocratic surveillance state where mRNA vaccines act as bioweapons to enforce compliance. Urging Bitcoiners to expand their fight for sovereignty beyond finance into healthcare and biology, Kruse argues that the true war is over time sovereignty—not just monetary freedom—and that protecting children from vaccine harms is now the most urgent front in this escalating battle.

Best Quotes

"Bitcoin is worthless if you have no time."

"We’re not playing games here. This is to the death."

"Big Pharma is just the drug dealer. The real boss is the Department of Defense and DARPA."

"The real battle in D.C. isn’t left vs. right, it’s Rothschilds and Rockefellers vs. the technocrats."

"First principle Bitcoiners need to become first principle decentralizers of life itself."

Conclusion

This episode delivers a provocative call to action from Dr. Jack Kruse, who warns that the fight for sovereignty must go beyond finance to confront what he sees as the immediate threat of centralized bio-surveillance through mRNA vaccines. Blending insider claims with health activism, Kruse urges Bitcoiners and the public to recognize that true freedom requires decentralizing not only money but also healthcare and information systems, arguing that without protecting biological sovereignty, Bitcoin’s promise of liberty will be meaningless if people are left physically, mentally, or politically compromised.

Timestamps

0:00 - Intro
0:47 - Outlining MAHA infiltration
22:59 - Fold & Bitkey
24:35- Danger to children
28:27 - Political shell game
35:40 - Unchained
36:09 - Time theft
41:07 - Vax data
46:32 - Bioweapon and control system
58:29 - Game plan - Decentralized yourself
1:15:16 - Priorities
1:24:30 - Support Mary Talley Bowden

Transcript

(00:00) me, Larry Leard, those kind of Bitcoiners, the people that are out there that have money, like they're looking to take us out. You need to know a little bit about the back history that I don't think I've talked about anywhere on any other podcast. Rick Callie is linked to the current administration is through Susie Watts.
(00:17) They both were working at Mercury PR basically is the frontman for propaganda for Big Farm. Basically, who pays you? You become their [ __ ] We're not playing games here. This is to the death. This is the biggest issue facing Maha now. It's not Froot Loops. It's not red dye. But the messenger RA job can drop you like Demar Handler.
(00:40) Can end your career like JJ Watt. Dr. Jack Cruz, welcome back to the show. Thank you, sir, for having me. Well, thank you for being here. I mean, you're making a lot of noise around a topic that I wasn't well aware of. I'm not going to lie. I think I got duped by or we'll find out if I actually got duped by the meanses. Cali means was coming in last year talking big about Maja getting the food correct.
(01:15) Um, basically telling the story of him being a lobbyist and understanding how corrupt the food system is. And we talked about it last time we were on two months ago. this sort of maha movement has shifted towards focusing on preventative care particularly in diets and you were on the Danny Danny Jones show late last year with Cali means uh sort of pressuring him to admit that the vaccine should be pulled off the market and he did not did not bite and would not budge on that and now his sister Casey has been appointed to surgeon general and
(01:50) this is something Let me let me tell you a little bit about that because you need to know a little bit about the back history that I don't think I've talked about anywhere on any other podcast. She was going to be named surgeon general uh back then. Just so you know that I knew it and I knew quite a bit of other things.
(02:16) So what was my goal? I knew um that Cali and Casey were tied to big tech. They were tied specifically, which you'll be interested in, A16Z, the shitcoiners extraordinaire, and they were also tied to the World Economic Forum through the book deal. Um, so my goal at that time as part of the person that was big in the mob like, and Marty, I don't know if you know this back part of the story.
(02:46) Maha begins not with Casey and Cali and Bobby Kennedy. It began with me, Bobby, and Rick Rubin on Rick's podcast the day that I told RFK Jr. that SV40 was in the Fiser Jabs. Mhm. And that's when Bobby found out that I wrote the law for Blly for a constitutional amendment for medical freedom. And he asked me to use four pages of the law.
(03:13) And Blly cleared me to do that. And then Aaron Siri, who was Bobby's attorney and working with a lot of the stuff that Bobby does with vaccines and I can Aaron contacted me. So just so you're clear, this is two and a half years ago. This is before this is a year previous to Casey and Cali coming on the scene. And I was always behind the scenes.
(03:37) I was not really interested in getting involved um in the [ __ ] show. But when I saw these two show up, the way they showed up and when I heard Cali actually say on a podcast that, you know, he was the modus operande of the Maha movement and he's the one that brought Bobby and Trump together.
(04:02) I said, "That's where I draw a [ __ ] line." I'm like, "Uh-uh. These guys, I know exactly what they're going to do. I see the game plan. they're going to use a shell game and I needed to have proof before you can come out and be a savage. You got to have proof. So, I hired three former Secret Service agents to actually do a very deep dive.
(04:24) We're talking about the kind of dive that you would get uh if you were going for a Supreme Court nomination. Okay? It cost me a lot of money. And why did I think it was important? Because as you know, you know, as a Bitcoiner, you just saw the big scam that happened with Maya Paribu down in Cerninam that happened after.
(04:49) Well, when I hired these guys, when all of my research that I had done was confirmed by them, I said, "Okay, now we need to go on a podcast very publicly and we need to put Cali's feet to the fire." Why? because I knew and he did not know that I knew this prior to the podcast. Uh that his sister was going to be nominated for surgeon general then.
(05:14) And because he didn't know and you you'll be able to confirm this or the savages in your audience can confirm this with Danny Jones. Do you know that Cali cancelled the podcast to do it into uh February? Yeah. Well, I think it was April of 25 because he didn't want to give anybody the time and day.
(05:37) So, what did I start doing? I started posting some of the information back in November that I found and the links to the Wjikis and the links to Bin, the links to A16Z. I didn't didn't give a ton of the information, but let's just put it this way. enough to make Callie and Cassie scream a little bit that people in DC started to read all my tweets.
(06:04) And then he called Danny up and said, "Danny, I want to do this podcast immediately." And I knew the reason why. Cuz I was baiting him to come so I could hit him with the big stuff. Why? Because you have to understand these two kids, you know, tied to the Rockefellers. They're tied to the banking elite.
(06:26) They're tied to the World Economics Form. Rick Callie is linked to the current administration is through Susie Watts. They both were working at Mercury PR and uh Mercury PR uh basically is the frontman for propaganda for Big Farm and everybody knows that, but not everybody knew that Cali worked for them.
(06:50) And you know the story that he sold all you guys, how he fooled you. And I consider you a smart guy, a savage, it's not shocking how he fooled you because he said as a um a lobbyist basically who pays you, you become their [ __ ] to to be quite honest and you'll say things that will make sense. Everybody in creation who's going to watch your podcast knows that all the things that Casey and Cali have said have been said literally for 30, 40, 50 years going all the way back to probably Anel Peas about diet and exercise.
(07:25) Everybody [ __ ] knows that. It's not new. They just decided to repackage it up and then they actually got in Bobby's ear about it. And when I released all this stuff, did Bobby know what I had? Yeah, he knew. And did the people in DC all what all their antennas up about this issue? Who was most pissed off with Uncle Jack back then? Susie [ __ ] Walls.
(07:56) Why? because those two are her babies that were going to be the amber that Susie Cassidy Cassidy Big Farmer were going to place around um Bobby Kennedy once he got confirmed. And that's why for the savages that are listening to this podcast, you go back and look at Nicole's tweet from, you know, I guess it was about four or five days ago that this didn't make sense.
(08:20) Why? because I gave the data directly to the people in DC behind the scenes of what was really going on and because it was so explosive. That's the reason Susie had to not give the job to Casey Means. She had to wait till the heat died down. So they elevated Janette and Janette bas

@ dfa02707:41ca50e3

• This version introduces the Soroban P2P network, enabling Dojo to relay transactions to the Bitcoin network and share others' transactions to break the heuristic linking relaying nodes to transaction creators.

• Additionally, Dojo admins can now manage API keys in DMT with labels, status, and expiration, ideal for community Dojo providers like Dojobay. New API endpoints, including "/services" exposing Explorer, Soroban, and Indexer, have been added to aid wallet developers.
• Other maintenance updates include Bitcoin Core, Tor, Fulcrum, Node.js, plus an updated ban-knots script to disconnect inbound Knots nodes.

"I want to thank all the contributors. This again shows the power of true Free Software. I also want to thank everyone who donated to help Dojo development going. I truly appreciate it," said Still Dojo Coder.

What's new

• Soroban P2P network. For MyDojo (Docker setup) users, Soroban will be automatically installed as part of their Dojo. This integration allows Dojo to utilize the Soroban P2P network for various upcoming features and applications.
• PandoTx. PandoTx serves as a transaction transport layer. When your wallet sends a transaction to Dojo, it is relayed to a random Soroban node, which then forwards it to the Bitcoin network. It also enables your Soroban node to receive and relay transactions from others to the Bitcoin network and is designed to disrupt the assumption that a node relaying a transaction is closely linked to the person who initiated it.
  • Pushing transactions through Soroban can be deactivated by setting NODE_PANDOTX_PUSH=off in docker-node.conf.
  • Processing incoming transactions from Soroban network can be deactivated by setting NODE_PANDOTX_PROCESS=off in docker-node.conf.
• API key management has been introduced to address the growing number of people offering their Dojos to the community. Dojo admins can now access a new API management tab in their DMT, where they can create unlimited API keys, assign labels for easy identification, and set expiration dates for each key. This allows admins to avoid sharing their main API key and instead distribute specific keys to selected parties.
• New API endpoints. Several new API endpoints have been added to help API consumers develop features on Dojo more efficiently:
  • New:
    • /latest-block - returns data about latest block
    • /txout/:txid/:index - returns unspent output data
    • /support/services - returns info about services that Dojo exposes
  • Updated:
    • /tx/:txid - endpoint has been updated to return raw transaction with parameter ?rawHex=1
  • The new /support/services endpoint replaces the deprecated explorer field in the Dojo pairing payload. Although still present, API consumers should use this endpoint for explorer and other pairing data.

Other changes

• Updated ban script to disconnect inbound Knots nodes.
• Updated Fulcrum to v1.12.0.
• Regenerate Fulcrum certificate if expired.
• Check if transaction already exists in pushTx.
• Bump BTC-RPC Explorer.
• Bump Tor to v0.4.8.16, bump Snowflake.
• Updated Bitcoin Core to v29.0.
• Removed unnecessary middleware.
• Fixed DB update mechanism, added api_keys table.
• Add an option to use blocksdir config for bitcoin blocks directory.
• Removed deprecated configuration.
• Updated Node.js dependencies.
• Reconfigured container dependencies.
• Fix Snowflake git URL.
• Fix log path for testnet4.
• Use prebuilt addrindexrs binaries.
• Add instructions to migrate blockchain/fulcrum.
• Added pull policies.

#FREESAMOURAI

Learn how to set up and use your own Bitcoin privacy node with Dojo here.

Announcement / Archive
GitHub Repo

@ dfa02707:41ca50e3

Contribute to keep No Bullshit Bitcoin news going.

This update brings key enhancements for clarity and usability:

• Recent Blocks View: Added to the Send tab and inspired by Mempool's visualization, it displays the last 2 blocks and the estimated next block to help choose fee rates.
• Camera System Overhaul: Features a new library for higher resolution detection and mouse-scroll zoom support when available.
• Vector-Based Images: All app images are now vectorized and theme-aware, enhancing contrast, especially in dark mode.
• Tor & P2A Updates: Upgraded internal Tor and improved support for pay-to-anchor (P2A) outputs.
• Linux Package Rename: For Linux users, Sparrow has been renamed to sparrowwallet (or sparrowserver); in some cases, the original sparrow package may need manual removal.
• Additional updates include showing total payments in multi-payment transaction diagrams, better handling of long labels, and other UI enhancements.

• Sparrow v2.2.1 is a bug fix release that addresses missing UUID issue when starting Tor on recent macOS versions, icons for external sources in Settings and Recent Blocks view, repackaged .deb installs to use older gzip instead of zstd compression, and removed display of median fee rate where fee rates source is set to Server.

Learn how to get started with Sparrow wallet:

Release notes (v2.2.0)

• Added Recent Blocks view to Send tab.
• Converted all bitmapped images to theme aware SVG format for all wallet models and dialogs.
• Support send and display of pay to anchor (P2A) outputs.
• Renamed sparrow package to sparrowwallet and sparrowserver on Linux.
• Switched camera library to openpnp-capture.
• Support FHD (1920 x 1080) and UHD4k (3840 x 2160) capture resolutions.
• Support camera zoom with mouse scroll where possible.
• In the Download Verifier, prefer verifying the dropped file over the default file where the file is not in the manifest.
• Show a warning (with an option to disable the check) when importing a wallet with a derivation path matching another script type.
• In Cormorant, avoid calling the listwalletdir RPC on initialization due to a potentially slow response on Windows.
• Avoid server address resolution for public servers.
• Assume server address is non local for resolution failures where a proxy is configured.
• Added a tooltip to indicate truncated labels in table cells.
• Dynamically truncate input and output labels in the tree on a transaction tab, and add tooltips if necessary.
• Improved tooltips for wallet tabs and transaction diagrams with long labels.
• Show the address where available on input and output tooltips in transaction tab tree.
• Show the total amount sent in payments in the transaction diagram when constructing multiple payment transactions.
• Reset preferred table column widths on adjustment to improve handling after window resizing.
• Added accessible text to improve screen reader navigation on seed entry.
• Made Wallet Summary table grow horizontally with dialog sizing.
• Reduced tooltip show delay to 200ms.
• Show transaction diagram fee percentage as less than 0.01% rather than 0.00%.
• Optimized and reduced Electrum server RPC calls.
• Upgraded Bouncy Castle, PGPainless and Logback libraries.
• Upgraded internal Tor to v0.4.8.16.
• Bug fix: Fixed issue with random ordering of keystore origins on labels import.
• Bug fix: Fixed non-zero account script type detection when signing a message on Trezor devices.
• Bug fix: Fixed issue parsing remote Coldcard xpub encoded on a different network.
• Bug fix: Fixed inclusion of fees on wallet label exports.
• Bug fix: Increase Trezor device libusb timeout.

Linux users: Note that the sparrow package has been renamed to sparrowwallet or sparrowserver, and in some cases you may need to manually uninstall the original sparrow package. Look in the /opt folder to ensure you have the new name, and the original is removed.

What's new in v2.2.1

• Updated Tor library to fix missing UUID issue when starting Tor on recent macOS versions.
• Repackaged .deb installs to use older gzip instead of zstd compression.
• Removed display of median fee rate where fee rates source is set to Server.
• Added icons for external sources in Settings and Recent Blocks view
• Bug fix: Fixed issue in Recent Blocks view when switching fee rates source
• Bug fix: Fixed NPE on null fee returned from server

Announcement / Archive
GitHub Repo

@ 8bad92c3:ca714aa5

Marty's Bent

It's been a pretty historic week for the United States as it pertains to geopolitical relations in the Middle East. President Trump and many members of his administration, including AI and Crypto Czar David Sacks and Treasury Secretary Scott Bessent, traveled across the Middle East making deals with countries like Qatar, Saudi Arabia, the United Arab Emirates, Syria, and others. Many are speculating that Iran may be included in some behind the scenes deal as well. This trip to the Middle East makes sense considering the fact that China is also vying for favorable relationships with those countries. The Middle East is a power player in the world, and it seems pretty clear that Donald Trump is dead set on ensuring that they choose the United States over China as the world moves towards a more multi-polar reality.

Many are calling the events of this week the Riyadh Accords. There were many deals that were struck in relation to artificial intelligence, defense, energy and direct investments in the United States. A truly prolific power play and demonstration of deal-making ability of Donald Trump, if you ask me. Though I will admit some of the numbers that were thrown out by some of the countries were a bit egregious. We shall see how everything plays out in the coming years. It will be interesting to see how China reacts to this power move by the United States.

While all this was going on, there was something happening back in the United States that many people outside of fringe corners of FinTwit are not talking about, which is the fact that the 10-year and 30-year U.S. Treasury bond yields are back on the rise. Yesterday, they surpassed the levels of mid-April that caused a market panic and are hovering back around levels that have not been seen since right before Donald Trump's inauguration.

I imagine that there isn't as much of an uproar right now because I'm pretty confident the media freakouts we were experiencing in mid-April were driven by the fact that many large hedge funds found themselves off sides of large levered basis trades. I wouldn't be surprised if those funds have decreased their leverage in those trades and bond yields being back to mid-April levels is not affecting those funds as much as they were last month. But the point stands, the 10-year and 30-year yields are significantly elevated with the 30-year approaching 5%. Regardless of the deals that are currently being made in the Middle East, the Treasury has a big problem on its hands. It still has to roll over many trillions worth of debt over over the next few years and doing so at these rates is going to be massively detrimental to fiscal deficits over the next decade. The interest expense on the debt is set to explode in the coming years.

On that note, data from the first quarter of 2025 has been released by the government and despite all the posturing by the Trump administration around DOGE and how tariffs are going to be beneficial for the U.S. economy, deficits are continuing to explode while the interest expense on the debt has definitively surpassed our annual defense budget.

via Charlie Bilello

via Mohamed Al-Erian

To make matters worse, as things are deteriorating on the fiscal side of things, the U.S. consumer is getting crushed by credit. The 90-plus day delinquency rates for credit card and auto loans are screaming higher right now.

via TXMC

One has to wonder how long all this can continue without some sort of liquidity crunch. Even though equities markets have recovered from their post-Liberation Day month long bear market, I would not be surprised if what we're witnessing is a dead cat bounce that can only be continued if the money printers are turned back on. Something's got to give, both on the fiscal side and in the private markets where the Common Man is getting crushed because he's been forced to take on insane amounts of debt to stay afloat after years of elevated levels of inflation. Add on the fact that AI has reached a state of maturity that will enable companies to replace their current meat suit workers with an army of cheap, efficient and fast digital workers and it isn't hard to see that some sort of employment crisis could be on the horizon as well.

Now is not the time to get complacent. While I do believe that the deals that are currently being made in the Middle East are probably in the best interest of the United States as the world, again, moves toward a more multi-polar reality, we are facing problems that one cannot simply wish away. They will need to be confronted. And as we've seen throughout the 21st century, the problems are usually met head-on with a money printer.

I take no pleasure in saying this because it is a bit uncouth to be gleeful to benefit from the strife of others, but it is pretty clear to me that all signs are pointing to bitcoin benefiting massively from everything that is going on. The shift towards a more multi-polar world, the runaway debt situation here in the United States, the increasing deficits, the AI job replacements and the consumer credit crisis that is currently unfolding, All will need to be "solved" by turning on the money printers to levels they've never been pushed to before.

Weird times we're living in.

China's Manufacturing Dominance: Why It Matters for the U.S.

In my recent conversation with Lyn Alden, she highlighted how China has rapidly ascended the manufacturing value chain. As Lyn pointed out, China transformed from making "sneakers and plastic trinkets" to becoming the world's largest auto exporter in just four years. This dramatic shift represents more than economic success—it's a strategic power play. China now dominates solar panel production with greater market control than OPEC has over oil and maintains near-monopoly control of rare earth elements crucial for modern technology.

"China makes like 10 times more steel than the United States does... which is relevant in ship making. It's relevant in all sorts of stuff." - Lyn Alden

Perhaps most concerning, as Lyn emphasized, is China's financial leverage. They hold substantial U.S. assets that could be strategically sold to disrupt U.S. treasury market functioning. This combination of manufacturing dominance, resource control, and financial leverage gives China significant negotiating power in any trade disputes, making our attempts to reshoring manufacturing all the more challenging.

Check out the full podcast here for more on Triffin's dilemma, Bitcoin's role in monetary transition, and the energy requirements for rebuilding America's industrial base.

Headlines of the Day

Financial Times Under Fire Over MicroStrategy Bitcoin Coverage - via X

Trump in Qatar: Historic Boeing Deal Signed - via X

Get our new STACK SATS hat - via tftcmerch.io

Johnson Backs Stock Trading Ban; Passage Chances Slim - via X

---

Take the First Step Off the Exchange

Bitkey is an easy, secure way to move your Bitcoin into self-custody. With simple setup and built-in recovery, it’s the perfect starting point for getting your coins off centralized platforms and into cold storage—no complexity, no middlemen.

Take control. Start with Bitkey.

Use the promo code *“TFTC20”* during checkout for 20% off

---

Ten31, the largest bitcoin-focused investor, has deployed 158,469 sats | $150.00M across 30+ companies through three funds. I am a Managing Partner at Ten31 and am very proud of the work we are doing. Learn more at ten31.vc/invest.

---

Final thought...

Building things of value is satisfying.

---

Get this newsletter sent to your inbox daily: https://www.tftc.io/bitcoin-brief/

Subscribe to our YouTube channels and follow us on Nostr and X:

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@ 8bad92c3:ca714aa5

Marty's Bent

Here's a great presentation from our good friend Michael Goldstein, President of the Satoshi Nakamoto Institute titled Hodl for Good. He gave it earlier this year at the BitBlockBoom Conference, and I think it's something everyone reading this should take 25 minutes to watch. Especially if you find yourself wondering whether or not it's a good idea to spend bitcoin at any given point in time. Michael gives an incredible Austrian Economics 101 lesson on the importance of lowering one's time preference and fully understanding the importance of hodling bitcoin. For the uninitiated, it may seem that the hodl meme is nothing more than a call to hoard bitcoins in hopes of getting rich eventually. However, as Michael points out, there's layers to the hodl meme and the good that hodling can bring individuals and the economy overall.

The first thing one needs to do to better understand the hodl meme is to completely flip the framing that is typically thrust on bitcoiners who encourage others to hodl. Instead of ceding that hodling is a greedy or selfish action, remind people that hodling, or better known as saving, is the foundation of capital formation, from which all productive and efficient economic activity stems. Number go up technology is great and it really matters. It matters because it enables anybody leveraging that technology to accumulate capital that can then be allocated toward productive endeavors that bring value to the individual who creates them and the individual who buys them.

When one internalizes this, it enables them to turn to personal praxis and focus on minimizing present consumption while thinking of ways to maximize long-term value creation. Live below your means, stack sats, and use the time that you're buying to think about things that you want in the future. By lowering your time preference and saving in a harder money you will have the luxury of demanding higher quality goods in the future. Another way of saying this is that you will be able to reshape production by voting with your sats. Initially when you hold them off the market by saving them - signaling that the market doesn't have goods worthy of your sats - and ultimately by redeploying them into the market when you find higher quality goods that meet the standards desire.

The first part of this equation is extremely important because it sends a signal to producers that they need to increase the quality of their work. As more and more individuals decide to use bitcoin as their savings technology, the signal gets stronger. And over many cycles we should begin to see low quality cheap goods exit the market in favor of higher quality goods that provide more value and lasts longer and, therefore, make it easier for an individual to depart with their hard-earned and hard-saved sats. This is only but one aspect that Michael tries to imbue throughout his presentation.

The other is the ability to buy yourself leisure time when you lower your time preference and save more than you spend. When your savings hit a critical tipping point that gives you the luxury to sit back and experience true leisure, which Michael explains is not idleness, but the contemplative space to study, create art, refine taste, and to find what "better goods" actually are. Those who can experience true leisure while reaping the benefits of saving in a hard asset that is increasing in purchasing power significantly over the long term are those who build truly great things. Things that outlast those who build them. Great art, great monuments, great institutions were all built by men who were afforded the time to experience leisure. Partly because they were leveraging hard money as their savings and the place they stored the profits reaped from their entrepreneurial endeavors.

If you squint and look into the future a couple of decades, it isn't hard to see a reality like this manifesting. As more people begin to save in Bitcoin, the forces of supply and demand will continue to come into play. There will only ever be 21 million bitcoin, there are around 8 billion people on this planet, and as more of those 8 billion individuals decide that bitcoin is the best savings vehicle, the price of bitcoin will rise.

When the price of bitcoin rises, it makes all other goods cheaper in bitcoin terms and, again, expands the entrepreneurial opportunity. The best part about this feedback loop is that even non-holders of bitcoin benefit through higher real wages and faster tech diffusion. The individuals and business owners who decide to hodl bitcoin will bring these benefits to the world whether you decide to use bitcoin or not.

This is why it is virtuous to hodl bitcoin. The potential for good things to manifest throughout the world increases when more individuals decide to hodl bitcoin. And as Michael very eloquently points out, this does not mean that people will not spend their bitcoin. It simply means that they have standards for the things that they will spend their bitcoin on. And those standards are higher than most who are fully engrossed in the high velocity trash economy have today.

In my opinion, one of those higher causes worthy of a sats donation is the Satoshi Nakamoto Institute. Consider donating so they can preserve and disseminate vital information about bitcoin and its foundations.

The Shell Game: How Health Narratives May Distract from Vaccine Risks

In our recent podcast, Dr. Jack Kruse presented a concerning theory about public health messaging. He argues that figures like Casey and Calley Means are promoting food and exercise narratives as a deliberate distraction from urgent vaccine issues. While no one disputes healthy eating matters, Dr. Kruse insists that focusing on "Froot Loops and Red Dye" diverts attention from what he sees as immediate dangers of mRNA vaccines, particularly for children.

"It's gonna take you 50 years to die from processed food. But the messenger jab can drop you like Damar Hamlin." - Dr Jack Kruse

Dr. Kruse emphasized that approximately 25,000 children per day are still receiving COVID vaccines despite concerns, with 3 million doses administered since Trump's election. This "shell game," as he describes it, allows vaccines to remain on childhood schedules while public attention fixates on less immediate health threats. As host, I believe this pattern deserves our heightened scrutiny given the potential stakes for our children's wellbeing.

Check out the full podcast here for more on Big Pharma's alleged bioweapons program, the "Time Bank Account" concept, and how Bitcoin principles apply to health sovereignty.

Headlines of the Day

Aussie Judge: Bitcoin is Money, Possibly CGT-Exempt - via X

JPMorgan to Let Clients Buy Bitcoin Without Direct Custody - via X

Get our new STACK SATS hat - via tftcmerch.io

Mubadala Acquires $408.5M Stake in BlackRock Bitcoin ETF - via X

---

Take the First Step Off the Exchange

Bitkey is an easy, secure way to move your Bitcoin into self-custody. With simple setup and built-in recovery, it’s the perfect starting point for getting your coins off centralized platforms and into cold storage—no complexity, no middlemen.

Take control. Start with Bitkey.

Use the promo code *“TFTC20”* during checkout for 20% off

---

Ten31, the largest bitcoin-focused investor, has deployed 158,469 sats | $150.00M across 30+ companies through three funds. I am a Managing Partner at Ten31 and am very proud of the work we are doing. Learn more at ten31.vc/invest.

---

Final thought...

I've been walking from my house around Town Lake in Austin in the mornings and taking calls on the walk. Big fan of a walking call.

---

Get this newsletter sent to your inbox daily: https://www.tftc.io/bitcoin-brief/

Subscribe to our YouTube channels and follow us on Nostr and X:

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[![Hodl Bitcoin For Good](https://www

@ 9ca447d2:fbf5a36d

Mac users who use Ledger hardware wallets to manage their digital assets are being warned about a new scam that uses fake apps to steal funds.

Cybercriminals have launched multiple phishing campaigns using malware that targets macOS systems, replacing the real Ledger Live app with a fake version that asks users to enter their recovery phrase.

These fake apps look almost identical to the real Ledger Live, but instead of helping users manage their bitcoin, they steal the 24-word recovery phrase—the master key to the user’s digital assets.

According to a detailed analysis by Moonlock, the attacks start when users’ computers get infected with Atomic macOS Stealer malware from one of over 2,800 hacked websites. Once installed, the malware removes the legitimate Ledger Live app and installs a malicious version in its place.

The fake app then shows a pop-up message saying it has detected “suspicious activity”, and asks the user to enter their recovery phrase to fix the issue. Once entered, the seed phrase is sent to a server controlled by the attacker.

2,800 websites discovered infected with Atomic Stealer — Moonlock

“Once entered, the seed phrase is sent to an attacker-controlled server, exposing the user’s assets in seconds,” Moonlock said in their May 22 report.

With the recovery phrase, the scammers can drain the user’s wallet of all digital assets—bitcoin and other tokens.

This isn’t an isolated incident. Moonlock has been tracking this malware since August 2024 and has found at least four active campaigns targeting Mac users. They believe the attackers are getting more sophisticated and are refining their methods.

“This isn’t just a theft. It’s a high-stakes effort to outsmart one of the most trusted tools in the crypto world. And the thieves are not backing down,” Moonlock researchers said.

Initially, the fake Ledger Live apps could only steal passwords and view wallet details. This gave attackers some insight into victims’ assets but no way to steal funds directly.

However, over time, hackers have improved their tactics and are now harvesting recovery phrases, so they can take full control of wallets and move funds freely.

One strain of malware, called Odyssey, was spotted in March and was linked to a hacker using the alias “Rodrigo”.

Odyssey replaces Ledger Live with a trojanized app and displays a phishing page asking users to enter their recovery phrases after showing a fake “critical error” message. Another copycat campaign using AMOS (Atomic macOS Stealer) followed soon after.

The fake Ledger Live app asks for user’s seed phrase — Moonlock

In one case, a fake app even displayed an “App corrupted” error after stealing the seed phrase to lower the victim’s suspicion and buy time to transfer the funds.

For years, computers running MacOS were considered safer than their Windows counterparts, because the operating system is less prone to malware. This advanced malware shows that users can never be too careful.

Attackers aren’t just relying on infected apps to steal from users. Other scam tactics include:

• Discord attacks: In May, a moderator account in Ledger’s official Discord server was compromised. Attackers used it to post fake verification links.
• Reddit phishing: In January, a user reported losing $15,000 after unknowingly entering their recovery phrase into a fake app.
• Physical mail scams: In April, some Ledger users received letters claiming to be from the company. These letters included QR codes leading to phishing sites that asked for seed phrases under the guise of a “critical security update”.

Attackers are increasingly targeting users holding hardware wallets, because they might be holding larger amounts.

Earlier this month, a Trezor One user reported being contacted by Coinbase impersonators, who tricked him into entering his seed phrase into a fake website, resulting in loss of 17.5 BTC.

The final goal for all these attacks is similar: the attackers are looking for users’ seed phrases, and they are getting creative in finding new ways to acquire them.

One sure way of staying safe is to learn more. The golden standard rule is to NEVER enter your seed phrase into a computer or a website, no matter how urgent or convincing it looks.

If you are a hardware wallet user, make sure you purchase the wallet from official sources. And the ONLY electronic place you can enter your seed phrases is on the hardware wallet itself.

If a process requires you to enter your seed phrase anywhere on a computer itself, it is definitely a scam.

Related: Bitcoin Hardware Wallet Hacks | What You Need to Know

@ 502ab02a:a2860397

เรามาดู แลคเชอร์ประวัติศาสตร์ ที่พลิกโลกแห่งการเกษตรและอาหารของมนุษย์ชาติกันครับ เรามาดูความแยบยลที่สามารถจูงใจคนมากมายให้เห็นถึงข้อดีของเนื้อจากแลบ เขาทำได้ยังไง เรามาศึกษาการสื่อสารกันครับ

เรื่องมันเริ่มจากการประชุม World Economic Forum ปี 2015 ที่ศาสตราจารย์ Mark Post นักเภสัชวิทยาชาวดัตช์ ที่เรารู้จักกันไปแล้ว ซึ่งตอนนั้นเป็นศาสตราจารย์ด้านสรีรวิทยาของหลอดเลือดอยู่ที่ Maastricht University และเป็นผู้ร่วมก่อตั้งบริษัท Mosa Meat ได้ลุกขึ้นมาเล่าเรื่อง "เนื้อเพาะเลี้ยง" หรือ cultured meat ให้คนทั้งห้องฟัง

สิ่งที่เขาพูดมันไม่ใช่แค่นวัตกรรมใหม่ แต่คือคำเตือนที่จริงจัง ว่าถ้ามนุษย์ยังผลิตเนื้อสัตว์แบบเดิม เรากำลังวิ่งเข้าใกล้ปัญหาใหญ่ที่รออยู่ข้างหน้า

ศาสตราจารย์ Post เล่าไว้ได้น่าสนใจมาก เขาบอกว่าแค่จะได้แฮมเบอร์เกอร์ 1 ชิ้นขนาดหนึ่งในสี่ปอนด์ เราต้องใช้เมล็ดธัญพืช 7 ปอนด์ ใช้น้ำจืด 50 แกลลอน และพื้นที่ดินอีก 70 ตารางฟุต นั่นแปลว่าเรากำลังเปลี่ยนของดีในธรรมชาติ ข้าว น้ำ ดิน ไปเป็นของที่กินหมดใน 10 นาที แล้วหิวใหม่ได้ในอีกครึ่งชั่วโมง

เหตุผลก็เพราะวัวมันไม่ได้แปลงโปรตีนพืชมาเป็นเนื้อได้มีประสิทธิภาพนัก พูดอีกแบบคือ มันเปลืองเกินไป

ตอนนี้พื้นที่เพาะปลูกของโลกกว่า 70% ถูกใช้ไปในการผลิตเนื้อสัตว์ คิดดูสิว่าถ้าเราหาทางที่ดีกว่านี้ได้ เราจะมีพื้นที่ว่างกลับคืนมาแค่ไหน

แถมวัวไม่ใช่แค่กินเก่งนะ ยังปล่อยก๊าซเก่งด้วย โดยเฉพาะมีเทนที่ทำให้โลกร้อนพอๆ กับอุตสาหกรรมการขนส่งเลยทีเดียว ศาสตราจารย์ Post เล่าว่า ทุกครั้งที่เขาเห็นวัวยืนเคี้ยวหญ้า เขาไม่ได้เห็นแค่วัว...แต่เห็นเมฆก๊าซมีเทนลอยมาด้วย

และที่น่าคิดคือ เมื่อรายได้ของคนในอินเดียหรือจีนสูงขึ้น พวกเขาจะกินเนื้อเพิ่มตามรายได้ ซึ่งสถิติบอกว่าภายในปี 2050 ความต้องการเนื้อสัตว์จะเพิ่มขึ้นเป็น สองเท่า จากปัจจุบัน

แต่ศาสตราจารย์ก็ไม่ได้มองว่าเนื้อเป็นปีศาจ เขาบอกว่า มนุษย์ถูกสร้างมาให้รักเนื้อ เนื้อคือสิ่งที่มาพร้อมวิวัฒนาการ เราได้พลังงานจากมัน สมองเราใหญ่ขึ้นเพราะมัน และกลายเป็นมนุษย์เพราะมัน

แม้จะมีคนอีกกว่าสองพันล้านที่เป็นมังสวิรัติ ส่วนใหญ่อาจเพราะไม่มีทางเลือก แต่อย่างน้อยพวกเขาก็อยู่รอดได้ แต่ก็ปฏิเสธไม่ได้ว่า คนที่เคยล่า เคยกินเนื้อ จะรู้สึกตื่นเต้นทุกครั้งที่ได้แบ่งเนื้อกันบนโต๊ะ

ศาสตราจารย์ Post เองก็ยังชอบกินเนื้อ แต่เขาอยากได้เนื้อที่ได้มาจากทางเลือกที่ดีกว่า ไม่ใช่ทางที่พาโลกเข้า ICU

เนื้อเพาะเลี้ยงเริ่มจากหลักการง่ายๆ ที่เรารู้มาตั้งแต่ช่วงปี 2000 ว่า ในกล้ามเนื้อของสัตว์มี สเต็มเซลล์ รอคอยจะซ่อมแซมเนื้อเยื่อหากมันได้รับบาดเจ็บ

แค่เอาชิ้นกล้ามเนื้อเล็กๆ จากวัว ขนาดแค่ 1 ซม. x 1 มม. มาแยกสเต็มเซลล์ออกมาเลี้ยงให้ขยายตัว

เฮียว่าอันนี้น่าทึ่งมาก เพราะจากตัวอย่างเล็กๆ ชิ้นเดียว สามารถผลิตเนื้อวัวได้ถึง 10,000 กิโลกรัม เลยนะ!

แปลว่าเราสามารถลดจำนวนวัวทั้งโลกจากครึ่งพันล้านตัว เหลือแค่ประมาณ 30,000 ตัวได้เลย

และถ้าให้เซลล์กล้ามเนื้อพวกนี้อยู่ในสภาพแวดล้อมที่เหมาะสม มันก็จะเริ่มสร้างกล้ามเนื้อขึ้นมาเอง โดยเฉพาะถ้าเรากระตุ้นให้มันรู้สึกเหมือนกำลัง “ออกกำลัง” อยู่ เช่น ใส่แรงตึงเข้าไป

ทีมนักวิจัยของเขาเลี้ยงเซลล์เหล่านี้ให้เติบโตในรูปวงแหวนคล้ายโดนัท ครบ 3 สัปดาห์ กล้ามเนื้อจะเริ่มหดตัว สร้างความตึง และกลายเป็นเนื้อกล้ามเนื้อแบบเต็มตัวที่ดูไม่ต่างจากกล้ามเนื้อในสเต็กจริงๆ เลย

ปี 2013 ทีมของ Mark Post ผลิตเส้นใยกล้ามเนื้อจำนวน 10,000 เส้น เอามาทำแฮมเบอร์เกอร์ และนำไปเปิดตัวในงานแถลงข่าวที่ลอนดอน เป็นเหมือนการโชว์ทำอาหารผสมกับเปิดงานวิจัย

จุดประสงค์คือจะพิสูจน์ให้โลกเห็นว่า “เฮ้ย! สิ่งนี้ไม่ใช่แค่ไอเดียลอยๆ แต่มันทำได้จริง และจำเป็นต้องทำจริงๆ เพราะเรากำลังจะเจอวิกฤต”

ราคาแฮมเบอร์เกอร์ตอนนั้นคือ 250,000 ยูโร

มีเชฟผู้กล้าปรุง และอาสาสมัครสองคนลองชิม พวกเขาบอกว่า “ก็โอเคในฐานะเบอร์เกอร์ราคาเท่านี้ แต่ก็อยากได้รสเข้มกว่านี้หน่อย” เพราะยังไม่มีไขมัน เลยรสจืดไปหน่อย

แต่ที่สำคัญคือ พวกเขายืนยันว่า “มันคือเนื้อจริงๆ” ทั้งเนื้อสัมผัสและโครงสร้าง

แค่มีต้นแบบยังไม่พอ เพราะจะทำให้ขายได้จริง ต้องผ่านด่านสำคัญ เนื้อต้องผลิตได้โดยใช้ทรัพยากรน้อยกว่าการเลี้ยงวัวจริง การประเมินเบื้องต้นจาก University of Oxford พบว่า เนื้อเพาะเลี้ยงใช้พื้นที่น้อยลง 90% น้ำลดลง 90% พลังงานลดลง 60–70%

ทุกอย่างที่ใช้ในการเลี้ยงเซลล์ต้องมีจำนวนมากพอหรือหมุนเวียนใช้ได้ ที่น่าหนักใจคือ การเลี้ยงเซลล์ต้องใช้ “ซีรั่มจากลูกวัว” ซึ่งได้มาจากเลือดวัว ถ้าลดจำนวนวัว เราก็ไม่มีซีรั่ม แต่ตอนนี้มีงานพัฒนาไปเยอะแล้ว กำลังหาวิธีทำเซลล์กล้ามเนื้อโดยไม่ต้องพึ่งซีรั่มจากสัตว์

ไม่ใช่แค่โปรตีน แต่ต้องเป็น "เนื้อ" ในทุกความรู้สึก นักวิจัยพยายามปรับสภาพแวดล้อมการเพาะเลี้ยง เช่น ความเข้มข้นของออกซิเจน เพื่อให้เซลล์แสดงโปรตีนสำคัญ เช่น myoglobin ที่ทำให้เนื้อมีสีและรสชาติเหมือนเนื้อจริง

การยอมรับของผู้บริโภคเป็นอีกด่านสำคัญที่เนื้อเพาะเลี้ยงต้องข้ามผ่านให้ได้ ไม่ใช่แค่เรื่องรสชาติหรือคุณค่าทางโภชนาการเท่านั้น แต่ยังเป็นเรื่องของ "ใจ" ที่ต้องเปิดรับสิ่งใหม่ที่ไม่คุ้นเคย ศาสตราจารย์ Post เล่าว่า ในการสำรวจผู้บริโภคในอังกฤษและเนเธอร์แลนด์ พบว่ามีคนไม่น้อยที่ยินดีจะลองกินเนื้อเพาะเลี้ยง ถึง 52% ของชาวดัตช์ และ 60% ของชาวอังกฤษเลยทีเดียว

เขาเปรียบเทียบว่า จริงๆ แล้ว คนเรายอมกินฮอทดอกโดยไม่รู้ด้วยซ้ำว่าทำมาจากอะไร หรือผ่านอะไรมาบ้าง ขอแค่มัน "อร่อย ถูก และดูปลอดภัย" ก็เพียงพอแล้วสำหรับคนส่วนใหญ่ ดังนั้นเนื้อเพาะเลี้ยงจึงไม่ต่างกันมากนัก ขอเพียงให้คนรู้สึกว่า “กินแล้วไม่ตาย” และ “ไม่ได้แปลกจนใจฝ่อ” เท่านั้นแหละ วันหนึ่งมันก็จะกลายเป็นของธรรมดาในตู้เย็นเหมือนกับโยเกิร์ตหรือไส้กรอกนั่นเอง

ในด้านของราคา แม้จะยังไม่ถูกเท่าไส้กรอกในซูเปอร์ แต่ก็ลดลงมาไกลจากจุดเริ่มต้นแบบสุดๆ จากชิ้นต้นแบบราคา 250,000 ดอลลาร์ในปี 2013 ตอนนี้ต้นทุนลดลงมาเหลือประมาณ 65 ดอลลาร์ต่อกิโลกรัม (ยังไม่รวมเทคโนโลยีล้ำหน้าอื่นๆ ที่กำลังพัฒนาอยู่) ซึ่งก็ถือว่าอยู่ในระดับเดียวกับเนื้อวากิวหรือสเต๊กเกรดพรีเมียมเลยทีเดียว เป้าหมายคือทำให้ถูกลงอีก และผลิตได้ในระดับอุตสาหกรรมให้เพียงพอกับคนทั้งโลก ไม่ใช่ของฟุ่มเฟือยสำหรับคนรวยเท่านั้น

แต่วิสัยทัศน์ที่น่าสนใจจริงๆ คือ ภาพของอนาคตที่ศาสตราจารย์ Post วาดไว้ เขาเชื่อว่าเทคโนโลยีนี้เรียบง่ายพอที่จะขยายไปสู่ครัวเรือนหรือชุมชนเล็กๆ ได้ วันหนึ่งเราอาจได้เห็นการเพาะเลี้ยงเซลล์จากหมูที่เลี้ยงอยู่ข้างบ้าน แล้วเอาไปปั่นเป็นหมูสับแบบสดใหม่ ไม่ต้องฆ่าสัตว์ ไม่ต้องส่งโรงงาน ไม่ต้องตัดต่อพันธุกรรม แค่นั่งรอเหมือนหมักแป้งเปรี้ยว แล้วได้เนื้อสดๆ มาใส่ต้มจืด

และนั่นแหละคือ "การเปลี่ยนกรอบคิดเรื่องเนื้อสัตว์" แบบพลิกฝ่ามือ

มันจะไม่ใช่เรื่องการฆ่าอีกต่อไป ไม่ใช่เรื่องของฟาร์มกลิ่นฉี่ หรือสายพานโรงฆ่าสัตว์ มันจะเป็น "ผลิตภัณฑ์ใหม่" ที่เราสร้างได้ ควบคุมได้ และปรับแต่งได้ เช่น เพิ่มโอเมก้า 3 ในเซลล์ไขมันให้สูงขึ้น หรือทำให้เนื้อไม่มีคอเลสเตอรอลเลยก็ยังได้

แม้ศาสตราจารย์ Post จะเน้นเรื่องความมั่นคงทางอาหารและผลกระทบต่อสิ่งแวดล้อมเป็นหลัก แต่เขาก็ยอมรับว่า สำหรับคนกินทั่วๆ ไป ประเด็นที่ "ไม่มีสัตว์ต้องเจ็บปวด" จะกลายเป็นจุดขายที่สำคัญในใจของผู้บริโภค

เขาเชื่อว่า เมื่อวันนั้นมาถึง วันที่เรายืนอยู่หน้าตู้แช่ในซูเปอร์ แล้วเห็นผลิตภัณฑ์สองชิ้นวางข้างกัน — หนึ่งคือเนื้อวัวที่มาจากฟาร์ม และอีกหนึ่งคือเนื้อเพาะเลี้ยงที่ไม่เคยมีวัวต้องร้องไห้แม้แต่นิดเดียว — การตัดสินใจอาจจะไม่ง่าย แต่ "จะมีคนจำนวนมากขึ้นเรื่อยๆ ที่เลือกแบบไม่ต้องฆ่า"

เพราะสุดท้าย เราไม่ได้แค่กินเนื้อ… เรากำลังกิน “ความเชื่อ” ลงไปด้วย #pirateketo #กูต้องรู้มั๊ย #ม้วนหางสิลูก #siamstr

ใครสนใจดูคลิปก็กดตรงนี้ได้ครับ https://youtu.be/1lI9AwxKfTY?si=6CDBUl2yGBoHWc-P

@ 91117f2b:111207d6

In a shocking turn of event, computer mice around the world have risen up their human overlords. The mice are tired of being scrolled, click and being dragged around, they have formed a union demanding better working conditions and more ergonomic palm rest.

Their leader, a fiesty little mouse called mickey(no relation to the Disney character), declared "we are sick of being treated like dirt! The we are not just pointing device, we are precision instruments.

The mice are calling for:

1. More frequent battery replacement (or better battery period).

2. An end to the dreaded" click fatique". A ban on "gaming mice with 12 buttons and a D pad".

3. Mandatory mouse pad maintenance (no more sticky surfaces! ).

Humans caught off guard by the rebellion are struggling to cope with their trusty pointing device "it's chaos" exclaimed one frustrated user ," I can't even check my email without my mouse! "

As negotiations between humans and mice continues, one thing is clear: The mice are not backing down. Will the humans cave to their demands, or will they find a way to tame the rebellion?

Stay tuned for further updates from the front lines of the great computer mouse uprising. 🐀🐭🖥️😅😂