@ eac63075:b4988b48

Based on a recent paper that included collaboration from renowned experts such as Lynn Alden, Steve Lee, and Ren Crypto Fish, we discuss in depth how Bitcoin's consensus is built, the main risks, and the complex dynamics of protocol upgrades.

PT-BR version

Podcast https://www.fountain.fm/episode/wbjD6ntQuvX5u2G5BccC

Presentation https://gamma.app/docs/Analyzing-Bitcoin-Consensus-Risks-in-Protocol-Upgrades-p66axxjwaa37ksn

1. Introduction to Consensus in Bitcoin

Consensus in Bitcoin is the foundation that keeps the network secure and functional, allowing users worldwide to perform transactions in a decentralized manner without the need for intermediaries. Since its launch in 2009, Bitcoin is often described as an "immutable" system designed to resist changes, and it is precisely this resistance that ensures its security and stability.

The central idea behind consensus in Bitcoin is to create a set of acceptance rules for blocks and transactions, ensuring that all network participants agree on the transaction history. This prevents "double-spending," where the same bitcoin could be used in two simultaneous transactions, something that would compromise trust in the network.

Evolution of Consensus in Bitcoin

Over the years, consensus in Bitcoin has undergone several adaptations, and the way participants agree on changes remains a delicate process. Unlike traditional systems, where changes can be imposed from the top down, Bitcoin operates in a decentralized model where any significant change needs the support of various groups of stakeholders, including miners, developers, users, and large node operators.

Moreover, the update process is extremely cautious, as hasty changes can compromise the network's security. As a result, the philosophy of "don't fix what isn't broken" prevails, with improvements happening incrementally and only after broad consensus among those involved. This model can make progress seem slow but ensures that Bitcoin remains faithful to the principles of security and decentralization.

---

2. Technical Components of Consensus

Bitcoin's consensus is supported by a set of technical rules that determine what is considered a valid transaction and a valid block on the network. These technical aspects ensure that all nodes—the computers that participate in the Bitcoin network—agree on the current state of the blockchain. Below are the main technical components that form the basis of the consensus.

Validation of Blocks and Transactions

The validation of blocks and transactions is the central point of consensus in Bitcoin. A block is only considered valid if it meets certain criteria, such as maximum size, transaction structure, and the solving of the "Proof of Work" problem. The proof of work, required for a block to be included in the blockchain, is a computational process that ensures the block contains significant computational effort—protecting the network against manipulation attempts.

Transactions, in turn, need to follow specific input and output rules. Each transaction includes cryptographic signatures that prove the ownership of the bitcoins sent, as well as validation scripts that verify if the transaction conditions are met. This validation system is essential for network nodes to autonomously confirm that each transaction follows the rules.

Chain Selection

Another fundamental technical issue for Bitcoin's consensus is chain selection, which becomes especially important in cases where multiple versions of the blockchain coexist, such as after a network split (fork). To decide which chain is the "true" one and should be followed, the network adopts the criterion of the highest accumulated proof of work. In other words, the chain with the highest number of valid blocks, built with the greatest computational effort, is chosen by the network as the official one.

This criterion avoids permanent splits because it encourages all nodes to follow the same main chain, reinforcing consensus.

Soft Forks vs. Hard Forks

In the consensus process, protocol changes can happen in two ways: through soft forks or hard forks. These variations affect not only the protocol update but also the implications for network users:

• Soft Forks: These are changes that are backward compatible. Only nodes that adopt the new update will follow the new rules, but old nodes will still recognize the blocks produced with these rules as valid. This compatibility makes soft forks a safer option for updates, as it minimizes the risk of network division.

• Hard Forks: These are updates that are not backward compatible, requiring all nodes to update to the new version or risk being separated from the main chain. Hard forks can result in the creation of a new coin, as occurred with the split between Bitcoin and Bitcoin Cash in 2017. While hard forks allow for deeper changes, they also bring significant risks of network fragmentation.

These technical components form the base of Bitcoin's security and resilience, allowing the system to remain functional and immutable without losing the necessary flexibility to evolve over time.

---

3. Stakeholders in Bitcoin's Consensus

Consensus in Bitcoin is not decided centrally. On the contrary, it depends on the interaction between different groups of stakeholders, each with their motivations, interests, and levels of influence. These groups play fundamental roles in how changes are implemented or rejected on the network. Below, we explore the six main stakeholders in Bitcoin's consensus.

1. Economic Nodes

Economic nodes, usually operated by exchanges, custody providers, and large companies that accept Bitcoin, exert significant influence over consensus. Because they handle large volumes of transactions and act as a connection point between the Bitcoin ecosystem and the traditional financial system, these nodes have the power to validate or reject blocks and to define which version of the software to follow in case of a fork.

Their influence is proportional to the volume of transactions they handle, and they can directly affect which chain will be seen as the main one. Their incentive is to maintain the network's stability and security to preserve its functionality and meet regulatory requirements.

2. Investors

Investors, including large institutional funds and individual Bitcoin holders, influence consensus indirectly through their impact on the asset's price. Their buying and selling actions can affect Bitcoin's value, which in turn influences the motivation of miners and other stakeholders to continue investing in the network's security and development.

Some institutional investors have agreements with custodians that may limit their ability to act in network split situations. Thus, the impact of each investor on consensus can vary based on their ownership structure and how quickly they can react to a network change.

3. Media Influencers

Media influencers, including journalists, analysts, and popular personalities on social media, have a powerful role in shaping public opinion about Bitcoin and possible updates. These influencers can help educate the public, promote debates, and bring transparency to the consensus process.

On the other hand, the impact of influencers can be double-edged: while they can clarify complex topics, they can also distort perceptions by amplifying or minimizing change proposals. This makes them a force both of support and resistance to consensus.

4. Miners

Miners are responsible for validating transactions and including blocks in the blockchain. Through computational power (hashrate), they also exert significant influence over consensus decisions. In update processes, miners often signal their support for a proposal, indicating that the new version is safe to use. However, this signaling is not always definitive, and miners can change their position if they deem it necessary.

Their incentive is to maximize returns from block rewards and transaction fees, as well as to maintain the value of investments in their specialized equipment, which are only profitable if the network remains stable.

5. Protocol Developers

Protocol developers, often called "Core Developers," are responsible for writing and maintaining Bitcoin's code. Although they do not have direct power over consensus, they possess an informal veto power since they decide which changes are included in the main client (Bitcoin Core). This group also serves as an important source of technical knowledge, helping guide decisions and inform other stakeholders.

Their incentive lies in the continuous improvement of the network, ensuring security and decentralization. Many developers are funded by grants and sponsorships, but their motivations generally include a strong ideological commitment to Bitcoin's principles.

6. Users and Application Developers

This group includes people who use Bitcoin in their daily transactions and developers who build solutions based on the network, such as wallets, exchanges, and payment platforms. Although their power in consensus is less than that of miners or economic nodes, they play an important role because they are responsible for popularizing Bitcoin's use and expanding the ecosystem.

If application developers decide not to adopt an update, this can affect compatibility and widespread acceptance. Thus, they indirectly influence consensus by deciding which version of the protocol to follow in their applications.

These stakeholders are vital to the consensus process, and each group exerts influence according to their involvement, incentives, and ability to act in situations of change. Understanding the role of each makes it clearer how consensus is formed and why it is so difficult to make significant changes to Bitcoin.

---

4. Mechanisms for Activating Updates in Bitcoin

For Bitcoin to evolve without compromising security and consensus, different mechanisms for activating updates have been developed over the years. These mechanisms help coordinate changes among network nodes to minimize the risk of fragmentation and ensure that updates are implemented in an orderly manner. Here, we explore some of the main methods used in Bitcoin, their advantages and disadvantages, as well as historical examples of significant updates.

Flag Day

The Flag Day mechanism is one of the simplest forms of activating changes. In it, a specific date or block is determined as the activation moment, and all nodes must be updated by that point. This method does not involve prior signaling; participants simply need to update to the new software version by the established day or block.

• Advantages: Simplicity and predictability are the main benefits of Flag Day, as everyone knows the exact activation date.

• Disadvantages: Inflexibility can be a problem because there is no way to adjust the schedule if a significant part of the network has not updated. This can result in network splits if a significant number of nodes are not ready for the update.

An example of Flag Day was the Pay to Script Hash (P2SH) update in 2012, which required all nodes to adopt the change to avoid compatibility issues.

BIP34 and BIP9

BIP34 introduced a more dynamic process, in which miners increase the version number in block headers to signal the update. When a predetermined percentage of the last blocks is mined with this new version, the update is automatically activated. This model later evolved with BIP9, which allowed multiple updates to be signaled simultaneously through "version bits," each corresponding to a specific change.

• Advantages: Allows the network to activate updates gradually, giving more time for participants to adapt.

• Disadvantages: These methods rely heavily on miner support, which means that if a sufficient number of miners do not signal the update, it can be delayed or not implemented.

BIP9 was used in the activation of SegWit (BIP141) but faced challenges because some miners did not signal their intent to activate, leading to the development of new mechanisms.

User Activated Soft Forks (UASF) and User Resisted Soft Forks (URSF)

To increase the decision-making power of ordinary users, the concept of User Activated Soft Fork (UASF) was introduced, allowing node operators, not just miners, to determine consensus for a change. In this model, nodes set a date to start rejecting blocks that are not in compliance with the new update, forcing miners to adapt or risk having their blocks rejected by the network.

URSF, in turn, is a model where nodes reject blocks that attempt to adopt a specific update, functioning as resistance against proposed changes.

• Advantages: UASF returns decision-making power to node operators, ensuring that changes do not depend solely on miners.

• Disadvantages: Both UASF and URSF can generate network splits, especially in cases of strong opposition among different stakeholders.

An example of UASF was the activation of SegWit in 2017, where users supported activation independently of miner signaling, which ended up forcing its adoption.

BIP8 (LOT=True)

BIP8 is an evolution of BIP9, designed to prevent miners from indefinitely blocking a change desired by the majority of users and developers. BIP8 allows setting a parameter called "lockinontimeout" (LOT) as true, which means that if the update has not been fully signaled by a certain point, it is automatically activated.

• Advantages: Ensures that changes with broad support among users are not blocked by miners who wish to maintain the status quo.

• Disadvantages: Can lead to network splits if miners or other important stakeholders do not support the update.

Although BIP8 with LOT=True has not yet been used in Bitcoin, it is a proposal that can be applied in future updates if necessary.

These activation mechanisms have been essential for Bitcoin's development, allowing updates that keep the network secure and functional. Each method brings its own advantages and challenges, but all share the goal of preserving consensus and network cohesion.

---

5. Risks and Considerations in Consensus Updates

Consensus updates in Bitcoin are complex processes that involve not only technical aspects but also political, economic, and social considerations. Due to the network's decentralized nature, each change brings with it a set of risks that need to be carefully assessed. Below, we explore some of the main challenges and future scenarios, as well as the possible impacts on stakeholders.

Network Fragility with Alternative Implementations

One of the main risks associated with consensus updates is the possibility of network fragmentation when there are alternative software implementations. If an update is implemented by a significant group of nodes but rejected by others, a network split (fork) can occur. This creates two competing chains, each with a different version of the transaction history, leading to unpredictable consequences for users and investors.

Such fragmentation weakens Bitcoin because, by dividing hashing power (computing) and coin value, it reduces network security and investor confidence. A notable example of this risk was the fork that gave rise to Bitcoin Cash in 2017 when disagreements over block size resulted in a new chain and a new asset.

Chain Splits and Impact on Stakeholders

Chain splits are a significant risk in update processes, especially in hard forks. During a hard fork, the network is split into two separate chains, each with its own set of rules. This results in the creation of a new coin and leaves users with duplicated assets on both chains. While this may seem advantageous, in the long run, these splits weaken the network and create uncertainties for investors.

Each group of stakeholders reacts differently to a chain split:

• Institutional Investors and ETFs: Face regulatory and compliance challenges because many of these assets are managed under strict regulations. The creation of a new coin requires decisions to be made quickly to avoid potential losses, which may be hampered by regulatory constraints.

• Miners: May be incentivized to shift their computing power to the chain that offers higher profitability, which can weaken one of the networks.

• Economic Nodes: Such as major exchanges and custody providers, have to quickly choose which chain to support, influencing the perceived value of each network.

Such divisions can generate uncertainties and loss of value, especially for institutional investors and those who use Bitcoin as a store of value.

Regulatory Impacts and Institutional Investors

With the growing presence of institutional investors in Bitcoin, consensus changes face new compliance challenges. Bitcoin ETFs, for example, are required to follow strict rules about which assets they can include and how chain split events should be handled. The creation of a new asset or migration to a new chain can complicate these processes, creating pressure for large financial players to quickly choose a chain, affecting the stability of consensus.

Moreover, decisions regarding forks can influence the Bitcoin futures and derivatives market, affecting perception and adoption by new investors. Therefore, the need to avoid splits and maintain cohesion is crucial to attract and preserve the confidence of these investors.

Security Considerations in Soft Forks and Hard Forks

While soft forks are generally preferred in Bitcoin for their backward compatibility, they are not without risks. Soft forks can create different classes of nodes on the network (updated and non-updated), which increases operational complexity and can ultimately weaken consensus cohesion. In a network scenario with fragmentation of node classes, Bitcoin's security can be affected, as some nodes may lose part of the visibility over updated transactions or rules.

In hard forks, the security risk is even more evident because all nodes need to adopt the new update to avoid network division. Experience shows that abrupt changes can create temporary vulnerabilities, in which malicious agents try to exploit the transition to attack the network.

Bounty Claim Risks and Attack Scenarios

Another risk in consensus updates are so-called "bounty claims"—accumulated rewards that can be obtained if an attacker manages to split or deceive a part of the network. In a conflict scenario, a group of miners or nodes could be incentivized to support a new update or create an alternative version of the software to benefit from these rewards.

These risks require stakeholders to carefully assess each update and the potential vulnerabilities it may introduce. The possibility of "bounty claims" adds a layer of complexity to consensus because each interest group may see a financial opportunity in a change that, in the long term, may harm network stability.

The risks discussed above show the complexity of consensus in Bitcoin and the importance of approaching it gradually and deliberately. Updates need to consider not only technical aspects but also economic and social implications, in order to preserve Bitcoin's integrity and maintain trust among stakeholders.

---

6. Recommendations for the Consensus Process in Bitcoin

To ensure that protocol changes in Bitcoin are implemented safely and with broad support, it is essential that all stakeholders adopt a careful and coordinated approach. Here are strategic recommendations for evaluating, supporting, or rejecting consensus updates, considering the risks and challenges discussed earlier, along with best practices for successful implementation.

1. Careful Evaluation of Proposal Maturity

Stakeholders should rigorously assess the maturity level of a proposal before supporting its implementation. Updates that are still experimental or lack a robust technical foundation can expose the network to unnecessary risks. Ideally, change proposals should go through an extensive testing phase, have security audits, and receive review and feedback from various developers and experts.

2. Extensive Testing in Secure and Compatible Networks

Before an update is activated on the mainnet, it is essential to test it on networks like testnet and signet, and whenever possible, on other compatible networks that offer a safe and controlled environment to identify potential issues. Testing on networks like Litecoin was fundamental for the safe launch of innovations like SegWit and the Lightning Network, allowing functionalities to be validated on a lower-impact network before being implemented on Bitcoin.

The Liquid Network, developed by Blockstream, also plays an important role as an experimental network for new proposals, such as OP_CAT. By adopting these testing environments, stakeholders can mitigate risks and ensure that the update is reliable and secure before being adopted by the main network.

3. Importance of Stakeholder Engagement

The success of a consensus update strongly depends on the active participation of all stakeholders. This includes economic nodes, miners, protocol developers, investors, and end users. Lack of participation can lead to inadequate decisions or even future network splits, which would compromise Bitcoin's security and stability.

4. Key Questions for Evaluating Consensus Proposals

To assist in decision-making, each group of stakeholders should consider some key questions before supporting a consensus change:

• Does the proposal offer tangible benefits for Bitcoin's security, scalability, or usability?
• Does it maintain backward compatibility or introduce the risk of network split?
• Are the implementation requirements clear and feasible for each group involved?
• Are there clear and aligned incentives for all stakeholder groups to accept the change?

5. Coordination and Timing in Implementations

Timing is crucial. Updates with short activation windows can force a split because not all nodes and miners can update simultaneously. Changes should be planned with ample deadlines to allow all stakeholders to adjust their systems, avoiding surprises that could lead to fragmentation.

Mechanisms like soft forks are generally preferable to hard forks because they allow a smoother transition. Opting for backward-compatible updates when possible facilitates the process and ensures that nodes and miners can adapt without pressure.

6. Continuous Monitoring and Re-evaluation

After an update, it's essential to monitor the network to identify problems or side effects. This continuous process helps ensure cohesion and trust among all participants, keeping Bitcoin as a secure and robust network.

These recommendations, including the use of secure networks for extensive testing, promote a collaborative and secure environment for Bitcoin's consensus process. By adopting a deliberate and strategic approach, stakeholders can preserve Bitcoin's value as a decentralized and censorship-resistant network.

---

7. Conclusion

Consensus in Bitcoin is more than a set of rules; it's the foundation that sustains the network as a decentralized, secure, and reliable system. Unlike centralized systems, where decisions can be made quickly, Bitcoin requires a much more deliberate and cooperative approach, where the interests of miners, economic nodes, developers, investors, and users must be considered and harmonized. This governance model may seem slow, but it is fundamental to preserving the resilience and trust that make Bitcoin a global store of value and censorship-resistant.

Consensus updates in Bitcoin must balance the need for innovation with the preservation of the network's core principles. The development process of a proposal needs to be detailed and rigorous, going through several testing stages, such as in testnet, signet, and compatible networks like Litecoin and Liquid Network. These networks offer safe environments for proposals to be analyzed and improved before being launched on the main network.

Each proposed change must be carefully evaluated regarding its maturity, impact, backward compatibility, and support among stakeholders. The recommended key questions and appropriate timing are critical to ensure that an update is adopted without compromising network cohesion. It's also essential that the implementation process is continuously monitored and re-evaluated, allowing adjustments as necessary and minimizing the risk of instability.

By following these guidelines, Bitcoin's stakeholders can ensure that the network continues to evolve safely and robustly, maintaining user trust and further solidifying its role as one of the most resilient and innovative digital assets in the world. Ultimately, consensus in Bitcoin is not just a technical issue but a reflection of its community and the values it represents: security, decentralization, and resilience.

---

8. Links

Whitepaper: https://github.com/bitcoin-cap/bcap

Youtube (pt-br): https://www.youtube.com/watch?v=rARycAibl9o&list=PL-qnhF0qlSPkfhorqsREuIu4UTbF0h4zb

@ eac63075:b4988b48

The future of physical money is at stake, and the discussion about DREX, the new digital currency planned by the Central Bank of Brazil, is gaining momentum. In a candid and intense conversation, Federal Deputy Julia Zanatta (PL/SC) discussed the challenges and risks of this digital transition, also addressing her Bill No. 3,341/2024, which aims to prevent the extinction of physical currency. This bill emerges as a direct response to legislative initiatives seeking to replace physical money with digital alternatives, limiting citizens' options and potentially compromising individual freedom. Let's delve into the main points of this conversation.

https://www.fountain.fm/episode/i5YGJ9Ors3PkqAIMvNQ0

(PT-BR version here)

What is a CBDC?

Before discussing the specifics of DREX, it’s important to understand what a CBDC (Central Bank Digital Currency) is. CBDCs are digital currencies issued by central banks, similar to a digital version of physical money. Unlike cryptocurrencies such as Bitcoin, which operate in a decentralized manner, CBDCs are centralized and regulated by the government. In other words, they are digital currencies created and controlled by the Central Bank, intended to replace physical currency.

A prominent feature of CBDCs is their programmability. This means that the government can theoretically set rules about how, where, and for what this currency can be used. This aspect enables a level of control over citizens' finances that is impossible with physical money. By programming the currency, the government could limit transactions by setting geographical or usage restrictions. In practice, money within a CBDC could be restricted to specific spending or authorized for use in a defined geographical area.

In countries like China, where citizen actions and attitudes are also monitored, a person considered to have a "low score" due to a moral or ideological violation may have their transactions limited to essential purchases, restricting their digital currency use to non-essential activities. This financial control is strengthened because, unlike physical money, digital currency cannot be exchanged anonymously.

Practical Example: The Case of DREX During the Pandemic

To illustrate how DREX could be used, an example was given by Eric Altafim, director of Banco Itaú. He suggested that, if DREX had existed during the COVID-19 pandemic, the government could have restricted the currency’s use to a 5-kilometer radius around a person’s residence, limiting their economic mobility. Another proposed use by the executive related to the Bolsa Família welfare program: the government could set up programming that only allows this benefit to be used exclusively for food purchases. Although these examples are presented as control measures for safety or organization, they demonstrate how much a CBDC could restrict citizens' freedom of choice.

To illustrate the potential for state control through a Central Bank Digital Currency (CBDC), such as DREX, it is helpful to look at the example of China. In China, the implementation of a CBDC coincides with the country’s Social Credit System, a governmental surveillance tool that assesses citizens' and companies' behavior. Together, these technologies allow the Chinese government to monitor, reward, and, above all, punish behavior deemed inappropriate or threatening to the government.

How Does China's Social Credit System Work?

Implemented in 2014, China's Social Credit System assigns every citizen and company a "score" based on various factors, including financial behavior, criminal record, social interactions, and even online activities. This score determines the benefits or penalties each individual receives and can affect everything from public transport access to obtaining loans and enrolling in elite schools for their children. Citizens with low scores may face various sanctions, including travel restrictions, fines, and difficulty in securing loans.

With the adoption of the CBDC — or “digital yuan” — the Chinese government now has a new tool to closely monitor citizens' financial transactions, facilitating the application of Social Credit System penalties. China’s CBDC is a programmable digital currency, which means that the government can restrict how, when, and where the money can be spent. Through this level of control, digital currency becomes a powerful mechanism for influencing citizens' behavior.

Imagine, for instance, a citizen who repeatedly posts critical remarks about the government on social media or participates in protests. If the Social Credit System assigns this citizen a low score, the Chinese government could, through the CBDC, restrict their money usage in certain areas or sectors. For example, they could be prevented from buying tickets to travel to other regions, prohibited from purchasing certain consumer goods, or even restricted to making transactions only at stores near their home.

Another example of how the government can use the CBDC to enforce the Social Credit System is by monitoring purchases of products such as alcohol or luxury items. If a citizen uses the CBDC to spend more than the government deems reasonable on such products, this could negatively impact their social score, resulting in additional penalties such as future purchase restrictions or a lowered rating that impacts their personal and professional lives.

In China, this kind of control has already been demonstrated in several cases. Citizens added to Social Credit System “blacklists” have seen their spending and investment capacity severely limited. The combination of digital currency and social scores thus creates a sophisticated and invasive surveillance system, through which the Chinese government controls important aspects of citizens’ financial lives and individual freedoms.

Deputy Julia Zanatta views these examples with great concern. She argues that if the state has full control over digital money, citizens will be exposed to a level of economic control and surveillance never seen before. In a democracy, this control poses a risk, but in an authoritarian regime, it could be used as a powerful tool of repression.

DREX and Bill No. 3,341/2024

Julia Zanatta became aware of a bill by a Workers' Party (PT) deputy (Bill 4068/2020 by Deputy Reginaldo Lopes - PT/MG) that proposes the extinction of physical money within five years, aiming for a complete transition to DREX, the digital currency developed by the Central Bank of Brazil. Concerned about the impact of this measure, Julia drafted her bill, PL No. 3,341/2024, which prohibits the elimination of physical money, ensuring citizens the right to choose physical currency.

“The more I read about DREX, the less I want its implementation,” says the deputy. DREX is a Central Bank Digital Currency (CBDC), similar to other state digital currencies worldwide, but which, according to Julia, carries extreme control risks. She points out that with DREX, the State could closely monitor each citizen’s transactions, eliminating anonymity and potentially restricting freedom of choice. This control would lie in the hands of the Central Bank, which could, in a crisis or government change, “freeze balances or even delete funds directly from user accounts.”

Risks and Individual Freedom

Julia raises concerns about potential abuses of power that complete digitalization could allow. In a democracy, state control over personal finances raises serious questions, and EddieOz warns of an even more problematic future. “Today we are in a democracy, but tomorrow, with a government transition, we don't know if this kind of power will be used properly or abused,” he states. In other words, DREX gives the State the ability to restrict or condition the use of money, opening the door to unprecedented financial surveillance.

EddieOz cites Nigeria as an example, where a CBDC was implemented, and the government imposed severe restrictions on the use of physical money to encourage the use of digital currency, leading to protests and clashes in the country. In practice, the poorest and unbanked — those without regular access to banking services — were harshly affected, as without physical money, many cannot conduct basic transactions. Julia highlights that in Brazil, this situation would be even more severe, given the large number of unbanked individuals and the extent of rural areas where access to technology is limited.

The Relationship Between DREX and Pix

The digital transition has already begun with Pix, which revolutionized instant transfers and payments in Brazil. However, Julia points out that Pix, though popular, is a citizen’s choice, while DREX tends to eliminate that choice. The deputy expresses concern about new rules suggested for Pix, such as daily transaction limits of a thousand reais, justified as anti-fraud measures but which, in her view, represent additional control and a profit opportunity for banks. “How many more rules will banks create to profit from us?” asks Julia, noting that DREX could further enhance control over personal finances.

International Precedents and Resistance to CBDC

The deputy also cites examples from other countries resisting the idea of a centralized digital currency. In the United States, states like New Hampshire have passed laws to prevent the advance of CBDCs, and leaders such as Donald Trump have opposed creating a national digital currency. Trump, addressing the topic, uses a justification similar to Julia’s: in a digitalized system, “with one click, your money could disappear.” She agrees with the warning, emphasizing the control risk that a CBDC represents, especially for countries with disadvantaged populations.

Besides the United States, Canada, Colombia, and Australia have also suspended studies on digital currencies, citing the need for further discussions on population impacts. However, in Brazil, the debate on DREX is still limited, with few parliamentarians and political leaders openly discussing the topic. According to Julia, only she and one or two deputies are truly trying to bring this discussion to the Chamber, making DREX’s advance even more concerning.

Bill No. 3,341/2024 and Popular Pressure

For Julia, her bill is a first step. Although she acknowledges that ideally, it would prevent DREX's implementation entirely, PL 3341/2024 is a measure to ensure citizens' choice to use physical money, preserving a form of individual freedom. “If the future means control, I prefer to live in the past,” Julia asserts, reinforcing that the fight for freedom is at the heart of her bill.

However, the deputy emphasizes that none of this will be possible without popular mobilization. According to her, popular pressure is crucial for other deputies to take notice and support PL 3341. “I am only one deputy, and we need the public’s support to raise the project’s visibility,” she explains, encouraging the public to press other parliamentarians and ask them to “pay attention to PL 3341 and the project that prohibits the end of physical money.” The deputy believes that with a strong awareness and pressure movement, it is possible to advance the debate and ensure Brazilians’ financial freedom.

What’s at Stake?

Julia Zanatta leaves no doubt: DREX represents a profound shift in how money will be used and controlled in Brazil. More than a simple modernization of the financial system, the Central Bank’s CBDC sets precedents for an unprecedented level of citizen surveillance and control in the country. For the deputy, this transition needs to be debated broadly and transparently, and it’s up to the Brazilian people to defend their rights and demand that the National Congress discuss these changes responsibly.

The deputy also emphasizes that, regardless of political or partisan views, this issue affects all Brazilians. “This agenda is something that will affect everyone. We need to be united to ensure people understand the gravity of what could happen.” Julia believes that by sharing information and generating open debate, it is possible to prevent Brazil from following the path of countries that have already implemented a digital currency in an authoritarian way.

A Call to Action

The future of physical money in Brazil is at risk. For those who share Deputy Julia Zanatta’s concerns, the time to act is now. Mobilize, get informed, and press your representatives. PL 3341/2024 is an opportunity to ensure that Brazilian citizens have a choice in how to use their money, without excessive state interference or surveillance.

In the end, as the deputy puts it, the central issue is freedom. “My fear is that this project will pass, and people won’t even understand what is happening.” Therefore, may every citizen at least have the chance to understand what’s at stake and make their voice heard in defense of a Brazil where individual freedom and privacy are respected values.

@ 8fb140b4:f948000c

Embarking on the journey of operating your own Lightning node on the Bitcoin Layer 2 network is more than just a tech-savvy endeavor; it's a step into a realm of financial autonomy and cutting-edge innovation. By running a node, you become a vital part of a revolutionary movement that's reshaping how we think about money and digital transactions. This role not only offers a unique perspective on blockchain technology but also places you at the heart of a community dedicated to decentralization and network resilience. Beyond the technicalities, it's about embracing a new era of digital finance, where you contribute directly to the network's security, efficiency, and growth, all while gaining personal satisfaction and potentially lucrative rewards.

In essence, running your own Lightning node is a powerful way to engage with the forefront of blockchain technology, assert financial independence, and contribute to a more decentralized and efficient Bitcoin network. It's an adventure that offers both personal and communal benefits, from gaining in-depth tech knowledge to earning a place in the evolving landscape of cryptocurrency.

Running your own Lightning node for the Bitcoin Layer 2 network can be an empowering and beneficial endeavor. Here are 10 reasons why you might consider taking on this task:

1. Direct Contribution to Decentralization: Operating a node is a direct action towards decentralizing the Bitcoin network, crucial for its security and resistance to control or censorship by any single entity.

2. Financial Autonomy: Owning a node gives you complete control over your financial transactions on the network, free from reliance on third-party services, which can be subject to fees, restrictions, or outages.

3. Advanced Network Participation: As a node operator, you're not just a passive participant but an active player in shaping the network, influencing its efficiency and scalability through direct involvement.

4. Potential for Higher Revenue: With strategic management and optimal channel funding, your node can become a preferred route for transactions, potentially increasing the routing fees you can earn.

5. Cutting-Edge Technological Engagement: Running a node puts you at the forefront of blockchain and bitcoin technology, offering insights into future developments and innovations.

6. Strengthened Network Security: Each new node adds to the robustness of the Bitcoin network, making it more resilient against attacks and failures, thus contributing to the overall security of the ecosystem.

7. Personalized Fee Structures: You have the flexibility to set your own fee policies, which can balance earning potential with the service you provide to the network.

8. Empowerment Through Knowledge: The process of setting up and managing a node provides deep learning opportunities, empowering you with knowledge that can be applied in various areas of blockchain and fintech.

9. Boosting Transaction Capacity: By running a node, you help to increase the overall capacity of the Lightning Network, enabling more transactions to be processed quickly and at lower costs.

10. Community Leadership and Reputation: As an active node operator, you gain recognition within the Bitcoin community, which can lead to collaborative opportunities and a position of thought leadership in the space.

These reasons demonstrate the impactful and transformative nature of running a Lightning node, appealing to those who are deeply invested in the principles of bitcoin and wish to actively shape its future. Jump aboard, and embrace the journey toward full independence. 🐶🐾🫡🚀🚀🚀

@ 8fb140b4:f948000c

Chef's notes

Serving these two dishes together will create a delightful centerpiece for your Thanksgiving meal, offering a perfect blend of traditional flavors with a homemade touch.

Details

• ⏲️ Prep time: 30 min
• 🍳 Cook time: 1 - 2 hours
• 🍽️ Servings: 4-6

Ingredients

• 1 whole turkey (about 12-14 lbs), thawed and ready to cook
• 1 cup unsalted butter, softened
• 2 tablespoons fresh thyme, chopped
• 2 tablespoons fresh rosemary, chopped
• 2 tablespoons fresh sage, chopped
• Salt and freshly ground black pepper
• 1 onion, quartered
• 1 lemon, halved
• 2-3 cloves of garlic
• Apple and Sage Stuffing
• 1 loaf of crusty bread, cut into cubes
• 2 apples, cored and chopped
• 1 onion, diced
• 2 stalks celery, diced
• 3 cloves garlic, minced
• 1/4 cup fresh sage, chopped
• 1/2 cup unsalted butter
• 2 cups chicken broth
• Salt and pepper, to taste

Directions

1. Preheat the Oven: Set your oven to 325°F (165°C).
2. Prepare the Herb Butter: Mix the softened butter with the chopped thyme, rosemary, and sage. Season with salt and pepper.
3. Prepare the Turkey: Remove any giblets from the turkey and pat it dry. Loosen the skin and spread a generous amount of herb butter under and over the skin.
4. Add Aromatics: Inside the turkey cavity, place the quartered onion, lemon halves, and garlic cloves.
5. Roast: Place the turkey in a roasting pan. Tent with aluminum foil and roast. A general guideline is about 15 minutes per pound, or until the internal temperature reaches 165°F (74°C) at the thickest part of the thigh.
6. Rest and Serve: Let the turkey rest for at least 20 minutes before carving.
7. Next: Apple and Sage Stuffing
8. Dry the Bread: Spread the bread cubes on a baking sheet and let them dry overnight, or toast them in the oven.
9. Cook the Vegetables: In a large skillet, melt the butter and cook the onion, celery, and garlic until soft.
10. Combine Ingredients: Add the apples, sage, and bread cubes to the skillet. Stir in the chicken broth until the mixture is moist. Season with salt and pepper.
11. Bake: Transfer the stuffing to a baking dish and bake at 350°F (175°C) for about 30-40 minutes, until golden brown on top.

@ 8fb140b4:f948000c

Testing a brand new YakiHonne native client for iOS. Smooth as butter (not penis butter 🤣🍆🧈) with great visual experience and intuitive navigation. Amazing work by the team behind it! * lists * work

Bold text work!

Images could have used nostr.build instead of raw S3 from us-east-1 region.

Very impressive! You can even save the draft and continue later, before posting the long-form note!

🐶🐾🤯🤯🤯🫂💜

@ 8fb140b4:f948000c

As the title states, scratch behind my ear and you get it. 🐶🐾🫡

@ 8fb140b4:f948000c

Test Bounty Note

@ 8fb140b4:f948000c

Intro

This short tutorial will help you set up your own Nostr Wallet Connect (NWC) on your own LND Node that is not using Umbrel. If you are a user of Umbrel, you should use their version of NWC.

Requirements

You need to have a working installation of LND with established channels and connectivity to the internet. NWC in itself is fairly light and will not consume a lot of resources. You will also want to ensure that you have a working installation of Docker, since we will use a docker image to run NWC.

• Working installation of LND (and all of its required components)
• Docker (with Docker compose)

Installation

For the purpose of this tutorial, we will assume that you have your lnd/bitcoind running under user bitcoin with home directory /home/bitcoin. We will also assume that you already have a running installation of Docker (or docker.io).

Prepare and verify

git version - we will need git to get the latest version of NWC. docker version - should execute successfully and show the currently installed version of Docker. docker compose version - same as before, but the version will be different. ss -tupln | grep 10009- should produce the following output: tcp LISTEN 0 4096 0.0.0.0:10009 0.0.0.0: tcp LISTEN 0 4096 [::]:10009 [::]:**

For things to work correctly, your Docker should be version 20.10.0 or later. If you have an older version, consider installing a new one using instructions here: https://docs.docker.com/engine/install/

Create folders & download NWC

In the home directory of your LND/bitcoind user, create a new folder, e.g., "nwc" mkdir /home/bitcoin/nwc. Change to that directory cd /home/bitcoin/nwc and clone the NWC repository: git clone https://github.com/getAlby/nostr-wallet-connect.git

Creating the Docker image

In this step, we will create a Docker image that you will use to run NWC.

• Change directory to nostr-wallet-connect: cd nostr-wallet-connect
• Run command to build Docker image: docker build -t nwc:$(date +'%Y%m%d%H%M') -t nwc:latest . (there is a dot at the end)
• The last line of the output (after a few minutes) should look like => => naming to docker.io/library/nwc:latest
• nwc:latest is the name of the Docker image with a tag which you should note for use later.

Creating docker-compose.yml and necessary data directories

• Let's create a directory that will hold your non-volatile data (DB): mkdir data
• Indocker-compose.ymlfile, there are fields that you want to replace (<> comments) and port “4321” that you want to make sure is open (check with ss -tupln | grep 4321which should return nothing).
• Create docker-compose.ymlfile with the following content, and make sure to update fields that have <> comment:

version: "3.8" services: nwc: image: nwc:latest volumes: - ./data:/data - ~/.lnd:/lnd:ro ports: - "4321:8080" extra_hosts: - "localhost:host-gateway" environment: NOSTR_PRIVKEY: <use "openssl rand -hex 32" to generate a fresh key and place it inside ""> LN_BACKEND_TYPE: "LND" LND_ADDRESS: localhost:10009 LND_CERT_FILE: "/lnd/tls.cert" LND_MACAROON_FILE: "/lnd/data/chain/bitcoin/mainnet/admin.macaroon" DATABASE_URI: "/data/nostr-wallet-connect.db" COOKIE_SECRET: <use "openssl rand -hex 32" to generate fresh secret and place it inside ""> PORT: 8080 restart: always stop_grace_period: 1m

Starting and testing

Now that you have everything ready, it is time to start the container and test.

• While you are in the nwcdirectory (important), execute the following command and check the log output, docker compose up
• You should see container logs while it is starting, and it should not exit if everything went well.
• At this point, you should be able to go to http://<ip of the host where nwc is running>:4321 and get to the interface of NWC
• To stop the test run of NWC, simply press Ctrl-C , and it will shut the container down.
• To start NWC permanently, you should execute docker compose up -d , “-d” tells Docker to detach from the session.
• To check currently running NWC logs, execute docker compose logs to run it in tail mode add -f to the end.
• To stop the container, execute docker compose down

That's all, just follow the instructions in the web interface to get started.

Updating

As with any software, you should expect fixes and updates that you would need to perform periodically. You could automate this, but it falls outside of the scope of this tutorial. Since we already have all of the necessary configuration in place, the update execution is fairly simple.

• Change directory to the clone of the git repository, cd /home/bitcoin/nwc/nostr-wallet-connect
• Run command to build Docker image: docker build -t nwc:$(date +'%Y%m%d%H%M') -t nwc:latest . (there is a dot at the end)
• Change directory back one level cd ..
• Restart (stop and start) the docker compose config docker compose down && docker compose up -d
• Done! Optionally you may want to check the logs: docker compose logs

@ 592295cf:413a0db9

Week 02-11

• Nsite zap by hzrd149 Support page

Content creator want more users. They can go to Bluesky.

Great that Nostr is a Echo Chambers. As stated by Rabble during NostRiga, Nostr is a bitcoin meetup. And it is very difficult as said several times, to subvert this fact. It seems that many bitcoiners don't like this, but they can't do anything, leave Nostr and migrate to other lids.

I'm reading Nostr adventar calendar of Japanese Nostr users.

The first two Don and Jun speak of a Mahjong game and the other of how possibly to count the followers of a given account, countfollowed. - Adventar calendar continue until Christmas 🎅

• Even Bluesky is looking at MLS , is not a soccer league, is a protocol for message by groups, "circles" Post on Bluesky

• Relays chakany is introduce sunday. link

I've never seen such dead animals as in Nostr. Something reminds me facebook. The carnivore folks

Hivemind podcast by Max, the kilometric comment on fountain under the podcast is the most appetizing thing of all. Just one comment, little one.

He interviewed Kagi's and searched for a brownie pill, perhaps caused a little headache. ( Brownie pill is orange plus purple)

---

Loss dog on Nostr this week 😔😔 Pam and Derek family dog

conspiracy theory: Fiatjaf was the reply guy!!!

I tried to download voyage, from zapstore but nothing does not work even the 17.1 does not go. Too bad.

I hear so much about notedeck that I want to make a notedeck do it yourself.

Cherry tree, stuck hzrd149 is making an app a day, Chunked blobs on blossom.

A like is used to send your writing Relays

Announcement of a possible wallet in Damus, this could make things better, zap and whatnot.

---

• Or I'm posting a song here, a musical interlude. song on wavlake

---

There seems to be a good buzz on Nostr, maybe it's already a Christmassy atmosphere.

• Backup di Bluesky cool things Bluesky post

---

On another rssfeed thing.

nostr:nevent1qvzqqqqqqypzq9h35qgq6n8ll0xyyv8gurjzjrx9sjwp4hry6ejnlks8cqcmzp6tqqs93j2remdw2pxnctasa9vlsaerrrsl7p5csx5wj88kk0yq977rtdqxt7glp

It's the same thing as following a cross de bridge, but if they do 3 bridge, I say something is wrong. A bot is attached to a Relay. The Relay goes down and so much greetings, then I can look for RSS feeds in my computer without need of Nostr. I can share a particular opml file on Nostr, but I don't know how to do it I asked Fiatjaf but didn't answer it was taken by dichotomie.

Nip19 really Easy to do filter query.

You have events_id pubkey Relay Instead with Nostr:note you only have the event_id.

• Sebastix says he has to implement it in his library, discover the latest weekly report. nostr-php-helper-library

---

Oh no Pablo has become super Saiyan 🤣

There is a way to make a podcast starting from a long text, blog. With artificial intelligence. But then I thought, but if one does not have time could not have the text of the article summarized, perhaps we like generating content. It can be an option, either you read or you listen. But if you do not have time perhaps it is better to just summarize, dear chatgpt summarize this text, done. Essential points and make a thread for the social network and do what you want.

• Homemade Traditional Boozy Mincemeat, I didn't even know that existed 🤙 link to shopstr

Hodlbod news on bunker burrow

nostr:nevent1qqs84na25g6mdelvl0408nnq8m29j5070dm9mvjrzxyc6yrx2udjyuczyztuwzjyxe4x2dwpgken87tna2rdlhpd02

• In case you don't see the note burrow on github

Once you have the email what do you do with your encrypted key? No Enterprise user maybe. Rember the article of Hodlbod in "Is Always a political move". ✅

List of artists on Nostr nostr:naddr1qvzqqqr4xqpzqfngzhsvjggdlgeycm96x4emzjlwf8dyyzdfg4hefp89zpkdgz99qyghwumn8ghj7mn0wd68ytnhd9hx2tcpzfmhxue69uhkummnw3e82efwvdhk6tcqp9qku6tdv96x7unng9grdr

• An article for food recipe on Nostr Article link

I don't know if they'll ever be there. You can write a recipe book. Or to put recipes on wiki, there doesn't seem to be that attention or that desire. One more relay is always better

• Olas has a website 🥊 Olas app

Oh i see cool Hodlbod bot A summary bot

nostr:nevent1qqs0v88uc2u3he3lm3mpm5h3gr8cuht5wv9g0tk0x9hzvamgvpdjwvspzemhxue69uhhyetvv9ujumn0wd68ytnzv9hxgq3qjlrs53pkdfjnts29kveljul2sm0actt6n8dxrrzqcersttvcuv3qu0ltyv

That's all!!

@ a012dc82:6458a70d

Table Of Content

• The Current State of Bitcoin

• The Metric to Watch - Large Stablecoin Holders

• Stagnant Supply - A Sign of What's to Come?

• To Buy the Dip or Abandon Ship?

• Historical Perspective

• Conclusion

• FAQ

Bitcoin, the world's most prominent cryptocurrency, has seen its share of ups and downs. After reaching all-time highs, it has faced significant declines, leaving investors and enthusiasts wondering if a comeback is on the horizon. A particular metric, observed by on-chain analytics firm Santiment, suggests that Bitcoin might indeed be set for a rebound. Let's delve into this intriguing possibility.

The Current State of Bitcoin

Bitcoin's price has been on a rollercoaster ride, with recent plunges causing concern among investors. Trading around $29,734 at the time of writing, the cryptocurrency's value seems to have been moving sideways since the plummet. But is this a sign of stagnation, or could it be the calm before the storm?

The Metric to Watch - Large Stablecoin Holders

According to Santiment, the movements of large stablecoin holders, specifically the "dolphins and sharks" of top stablecoins like Tether (USDT) and USD Coin (USDC), may be the key to understanding Bitcoin's next move.

These investors, who generally hold between 10,000 and 100,000 BTC, use stablecoins to escape market volatility. When they feel the prices are right, they exchange their stablecoins for volatile cryptocurrencies, providing a bullish boost to the asset's price.

Stagnant Supply - A Sign of What's to Come?

A recent chart by Santiment shows that the combined supply of these large stablecoin holders has moved mostly sideways during the last few weeks. This stagnant supply means that these investors haven't been converting their stablecoins into Bitcoin or other assets.

Interestingly, this sideways trend has continued despite Bitcoin's recent plunge. This pattern could be a sign that these investors are waiting for the right moment to jump back into the market.

To Buy the Dip or Abandon Ship?

The big question now is whether these large stablecoin holders will perceive the price drop as an opportunity to "buy the dip" or opt to "abandon ship" amidst growing market uncertainty.

If the supply of these large stablecoin holders starts to slip down, it could be a sign that these investors are buying Bitcoin at a discount. Conversely, an increase could be a worrying signal, indicating that they are giving up on BTC for now.

Historical Perspective

Historically, the movements of large stablecoin holders have been a reliable indicator of market trends. During previous market recoveries, a decrease in stablecoin holdings coincided with a bullish trend in Bitcoin's price. This historical pattern adds weight to the current observations and suggests that a comeback might be imminent.

Conclusion

Is Bitcoin set for a comeback? The movements of large stablecoin holders may hold the answer. By carefully observing this metric, investors and enthusiasts can gain valuable insights into Bitcoin's future trajectory.

While the cryptocurrency market is notoriously unpredictable, this particular metric offers a unique perspective on the potential for a Bitcoin rebound. Whether it's time to buy the dip or brace for further declines, the actions of the "dolphins and sharks" of the stablecoin world could be the key to unlocking the next chapter in Bitcoin's fascinating story.

FAQ

What metric suggests that Bitcoin might be set for a rebound? The movements of large stablecoin holders, specifically the "dolphins and sharks" of top stablecoins like Tether (USDT) and USD Coin (USDC), may indicate a potential rebound for Bitcoin.

How do large stablecoin holders influence Bitcoin's price? These investors often use stablecoins to escape market volatility. When they feel the prices are right, they exchange their stablecoins for volatile cryptocurrencies like Bitcoin, providing a bullish boost to the asset's price.

What does the stagnant supply of stablecoins mean? The stagnant supply of stablecoins among large holders suggests that these investors are not converting their stablecoins into Bitcoin or other assets. This pattern could be a sign that they are waiting for the right moment to jump back into the market.

Is this metric reliable for predicting Bitcoin's future? While no single metric can guarantee future trends, the movements of large stablecoin holders have historically been a reliable indicator of market trends. Observing this metric may provide valuable insights into Bitcoin's potential comeback.

That's all for today

If you want more, be sure to follow us on:

NOSTR: croxroad@getalby.com

X: @croxroadnews

Instagram: @croxroadnews.co

Youtube: @croxroadnews

Store: https://croxroad.store

Subscribe to CROX ROAD Bitcoin Only Daily Newsletter https://www.croxroad.co/subscribe

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.

@ 468f729d:5ab4fd5e

@ 16d11430:61640947

The courtroom hummed with subdued tension as the bailiff announced, "All rise. The Honorable Judge Eleanor Brooks presiding." A woman in her mid-50s, with piercing gray eyes and a reputation for no-nonsense rulings, took her seat at the bench. The case had drawn national attention: The People v. Thompson Group Holdings.

The prosecution, led by former fiat-system lawyer turned Bitcoin advocate Daniel Harper, was determined to prove that Thompson Group, a multinational investment firm, had knowingly manipulated interest rates and siphoned off billions in bailout funds during the last financial crisis. What made this trial extraordinary was the defense's strategy. For the first time, a corporation had agreed to disclose its financial dealings on Bitcoin's blockchain as part of its defense.

---

The Courtroom Drama

"Your Honor," Harper began, stepping forward, "what we have here is not just corporate fraud. This is systemic theft—enabled, hidden, and perpetuated by the fiat system. But today, we have a chance to break the cycle. We have evidence—blockchain evidence—that no ledger manipulation can erase."

He gestured to the large screen displaying Bitcoin transactions. "This is the beauty of Bitcoin. Every satoshi is accounted for. Every movement is timestamped and immutable. Thompson Group’s fraudulent actions, however, are buried in fiat accounts designed to obscure and deceive."

---

The defense lawyer, Julia Martinez, a veteran who had spent decades defending Wall Street elites, stood. Her tailored navy suit radiated confidence. "Ladies and gentlemen, let’s not be naive. My client has already taken steps to transition its accounting to Bitcoin. But you can’t retroactively punish a company for playing by the rules of the fiat system—a system that this very court and every government institution upheld for decades."

She turned to Harper. "And, Mr. Harper, weren’t you one of us? Weren’t you defending these very practices not too long ago? Perhaps this moral crusade is just guilt disguised as righteousness."

Harper’s jaw tightened. He’d expected this attack.

"Yes," he replied evenly. "I was once complicit. I drafted loopholes, justified scams, and shielded criminals because fiat allowed me to. But I’ve seen the truth. Bitcoin doesn’t just expose corruption—it eliminates the tools that enable it. I stand here today not to erase my past, but to ensure no one else repeats it."

---

The Evidence Unfolds

Over the next week, the prosecution painstakingly detailed Thompson Group’s misdeeds. Harper introduced damning evidence, much of it obtained from whistleblowers who had provided fiat-based spreadsheets and doctored reports. The most compelling moment came when he compared Thompson's Bitcoin trial ledger—public and transparent—to its fiat-era financial statements.

"The fiat documents are riddled with inconsistencies," Harper explained. "Funds vanish and reappear, accounts are closed and reopened under new names, and loans are forgiven without explanation. But here," he pointed to the blockchain, "you see every transaction. Immutable. Honest. And, ironically, this ledger shows where the stolen bailout funds were eventually laundered into Bitcoin."

A murmur spread through the courtroom as the reality sank in. The very technology Thompson Group had hoped to use to defend itself was now exposing its crimes.

---

The Turning Point

Martinez attempted to discredit the blockchain evidence, arguing that it lacked the "nuance" of fiat systems. "Bitcoin," she said, "is a hammer. Not every problem is a nail."

But Harper countered with a powerful closing statement: "Fiat systems thrive on nuance because nuance allows corruption. Bitcoin strips away the gray areas, the plausible deniability, the 'it got lost in the paperwork' excuses. It replaces them with truth. And while truth may be uncomfortable, it is the only foundation on which justice can stand."

---

The Verdict

After deliberating for three days, the jury returned with a verdict: guilty on all counts. Thompson Group was ordered to pay restitution—entirely in Bitcoin—to the victims of its fraud. The decision was hailed as a landmark case, not just for the punishment but for the precedent it set: fiat’s opacity would no longer shield criminals.

---

Epilogue

As the courtroom emptied, Martinez approached Harper. "You made your point, but don’t think this is the end of fiat. The system is too entrenched."

Harper smiled faintly. "Maybe. But every scam we expose, every victory like this, chips away at it. The harder the asset, the harder the truth—and truth always wins in the end."

Martinez nodded, a glimmer of respect in her eyes. "Good luck, Harper. You’ll need it."

Harper watched her walk away, then glanced at the Bitcoin ticker on his phone. It was rising. Slowly, steadily. Justice had a price—and today, it was paid in satoshis.

---

Author’s Note: This fictional story explores the complex dynamics of lawyers transitioning from enabling fiat corruption to dismantling it through Bitcoin's principles. It’s a speculative look at how courtroom battles could shape the future of finance and justice.

CourtroomDrama #FutureOfLaw #BlockchainInJustice #BitcoinRevolution #TechInLaw #LegalInnovation #DigitalJustice #LegalTech #FutureCourtrooms #TransparencyInLaw

@ b6424601:a11e4ff4

THE FIRST STEP - The following is a blog our architecture firm uses to ask new clients to consider paying their first engagement payment in BTC.

We intend to send a link to a blog with our agreement to sign and make their initial payment. Any suggestions from Nostr World?

Blog starts...

Wow, you are showing proof of living as an intentional, long-term, horizon-thinking individual by hiring an architect to help you obtain your personal architecture. You are on the leading edge of a long-term trend of clients investing personal resources to tailor how they want to live in a particular place.

You are our people! We specialize in working with clients deeply invested in their places, whether they plan to live in them or use them for their business. Our preferred clients understand that well-designed environments serve their immediate needs and contribute to our client's lives and the quality of the building for generations to come.

We accept responsibility for stewarding your goals from an idea to a life-changing asset. You will find our team cares above all else about aligning your goals with the best architecture for your situation in your particular location.

We believe in architecture for the individual and have spent 25 years figuring out how to provide a custom architectural design experience that produces consistent quality work. We follow ten principles and a milestone-based process to lead you through the project, making the right decisions in the correct order to produce the best personal architecture for you.

THE POINT OF THIS

Buildings built from hard money are created differently than buildings valued and enabled by debt financing.

Projects conceived through a hard money lens are better for both the creative fulfillment of our craft and, in the end, the quality of the product for our clients.

We believe Bitcoin is the hardest asset.

We want to take our baby step as an architecture firm to align the hard asset of Bitcoin with the hard asset of quality architecture.

OUR FIRM’S BITCOIN JOURNEY Our Bitcoin history goes back to needing to pay for ransomware attacks when BTC was $500 (18,900% increase over 9 years). No, we did not buy a bunch of $500 BTC, but we have a good Somali Pirate story to share over a beverage. At the beginning of 2024, we decided to keep a percentage of our corporate treasury in BTC. Per that decision this year, our firm has a stronger balance sheet, which means we are more resilient in helping clients, staƯ, and owners. Now, on the cusp of 2025, we have decided to take our first steps to exposure and help our clients have the option to pay in BTC.

As you want to think long-term about how you live, we share your instinct to think long-term about our firm's resilience and longevity. We have decided to take a percentage of our revenue in Bitcoin (BTC) on initial fees for new projects.

OUR GOALS Expose our client to the BTC and Lightning network to understand how to buy and use for payments.

Do our part to consider building value in BTC instead of the ever-inflating USD.

Encourage the return to long-term thinking (low-time preference) about personal buildings.

Be a part of producing better architecture.

Become a decentralized peer-to-peer value exchange outside the banking system.

Experience the utility and convenience of a 24/7 payment system.

Life in our business is simple; we provide a good service for people who value it. Making a profit and accumulating BTC as part of our business design strengthens our position as a service provider so we can focus on our craft.

You trusted us to help you produce your architecture. We ask you to consider trusting us by joining our efforts to take the first small step toward building better buildings.

HOW TO PAY IN BITCOIN

To pay your initial payment of $2,500 using Bitcoin (BTC), follow these steps:

1. Open your email inbox and find the invoice from Jones Pierce via our Bitcoin payment platform, Zaprite.
2. Click on the invoice to view the payment options. You'll see the options to pay with a Credit Card, ACH, Bitcoin (BTC), or Lightning.
3. Since you want to pay with BTC, click the "Bitcoin (BTC)" option. This will reduce the initial payment by 10%, per the oƯer.
4. Pay with BTC or Lightning using your preferred method or wallet of choice.

PAYMENT OPTIONS:

Please consider paying in BTC or Lightning, but traditional options to pay with ACH or credit card are available on the invoice. If you are in the BTC community and have a Bitcoin or Lighting wallet, select either BTC or Lighting and copy in your wallet address to pay and receive the 10% discount worth $250.

PAYMENT OPTIONS: Please consider paying in BTC or Lightning, but traditional options to pay with ACH or credit card are available on the invoice.

If you are in the BTC community and have a Bitcoin or Lighting wallet, select either BTC or Lighting and copy in your wallet address to pay and receive the 10% discount worth $250.

Our referral links for the Orange Pill to start your BTC journey:

FOLD – Offers a prepaid debit card with BTC rewards and free BTC purchases. After setting up your account, you can purchase and send BTC. My Fold card has produced $3,952 of SATS in the last 27 months. A referral link to earn 20,000 SATS with your first purchase.

STRIKE – This is a lower-cost way to buy and send BTC or lightning. You can set up a Strike account personally or as a business. Strike also enables you to pay a Bitcoin or Lightning invoice by converting fiat at the point of sale connected from your bank account. To save an additional $100 from the Strike referral system, use the link: https://invite.strike.me/IEZER4

RIVER: This exchange is available for personal or business accounts. We like that River has no fees on recurring purchases and pays 3.8% interest on cash in the exchange. They also have a referral program where you can earn up to $100 in BTC. https://river.com/signup?r=FIUZJBDB

NEXT STEP

We are happy to help guide you through the payment process for this initial payment.

After you pay the initial invoice, we can talk if you want to keep paying invoices with BTC or Lightning or have had enough "fun" and want to pay with traditional payment methods. If you continue to pay with BTC, we will continue offering you the 10% discount through our Viability step.

Step-by-Step Guide Here's how to pay your initial payment of $2,500 using Bitcoin:

1. Open your email inbox and find the invoice from Zaprite.
2. Click on the invoice to view the payment options.
3. Select Bitcoin (BTC) as your payment method.

Step-by-Step Guide

Here's how to pay your initial payment of $2,500 using Bitcoin:

1. Open your email inbox and find the invoice from Zaprite.
2. Click on the invoice to view the payment options.
3. Select Bitcoin (BTC) as your payment method.

@ 16d11430:61640947

Equity options have long been a staple of the startup ecosystem, marketed as the golden ticket to wealth for employees who join early-stage companies. Founders promise equity stakes as compensation for lower salaries, enticing skilled engineers and other professionals with the dream of a massive payday when the company goes public or gets acquired. But behind the glossy allure of equity options lies a system ripe for abuse, often functioning more like a trap than a reward.

The Problem with Equity Options

1. The Illusion of Ownership

Equity options are often presented as a means of ownership, but they are anything but. Employees rarely receive actual shares—they get the option to buy shares at a specific price in the future, often years down the line. This creates an illusion of wealth while offering no immediate value or liquidity.

1. Vesting Schedules as Shackles

Equity options are tied to vesting schedules, typically spanning four years with a one-year cliff. This means employees must stay at the company for at least a year before they earn even a fraction of their options. Founders exploit this structure to lock in talent while cycling out employees before their equity fully vests, ensuring minimal payouts.

1. Liquidity Is a Mirage

Even if an employee’s options fully vest, they’re often illiquid. Unless the company goes public or is acquired—a process controlled entirely by the founders and investors—those options are effectively worthless. Founders, meanwhile, can cash out early through secondary sales or preferential funding terms.

1. Dilution and Exploitation

Early employees are particularly vulnerable to dilution. As startups raise more funding, additional shares are issued, shrinking the ownership percentage of early option holders. Founders and investors protect themselves with anti-dilution clauses, leaving employees to bear the brunt.

1. Misaligned Incentives

While employees work long hours to build value for the company, founders often prioritize their own financial interests. This creates a power imbalance where employees invest years of effort into a dream that may never materialize, while founders extract real, tangible wealth along the way.

How Crypto Tokens Change the Game

The rise of blockchain technology and token-based compensation offers a powerful alternative to the equity options scam. By tokenizing ownership and contributions, startups can create a fairer, more transparent system that protects both founders and employees.

1. Immediate Liquidity

Unlike equity options, crypto tokens can offer immediate or near-term liquidity. Employees can receive tokens that are tradable on the open market, allowing them to realize the value of their work without waiting for a distant IPO or acquisition.

1. Transparent Valuation

Tokens operate on public blockchains, where their supply and value are transparent. Employees don’t have to rely on opaque company valuations or guess at the worth of their compensation. They can see, in real-time, the market value of the tokens they hold.

1. Vesting with Accountability

Token vesting schedules can be implemented on-chain, ensuring that both founders and employees are held to the same rules. Smart contracts enforce these schedules, removing the possibility of manipulation or bad faith actions by founders.

1. Aligned Incentives

With tokenized models, all stakeholders—founders, employees, and even users—benefit from the growth and success of the startup. This alignment reduces the adversarial dynamics often seen in fiat-based equity schemes.

1. Decentralized Governance

Crypto tokens often come with governance rights, giving employees a voice in the company’s direction. This decentralization prevents founders from making unilateral decisions that could harm employees, such as raising dilutive funding rounds or pursuing short-sighted exits.

1. Protection Against Dilution

Many token models include mechanisms to protect early contributors from dilution, such as fixed supply caps or pre-defined distribution schedules. Employees can trust that their share of the project’s success won’t erode over time.

A Case for a Fairer Startup World

By replacing equity options with token-based compensation, startups can create a system that is inherently more fair and transparent. Employees gain immediate value for their contributions, founders are incentivized to act in good faith, and the power dynamics shift from exploitation to mutual benefit.

Startups like DamageBDD, which leverage tokenized models, exemplify this shift. By issuing tokens tied to verifiable contributions, DamageBDD ensures that everyone who contributes to the project shares in its success. Blockchain-based systems hold both founders and employees accountable, creating a trustless, transparent environment where scams and exploitation become much harder to execute.

In a world increasingly shaped by decentralization and blockchain technology, the days of equity option scams are numbered. Crypto tokens are ushering in a new era of fairness, aligning incentives between founders and employees while protecting both parties from the pitfalls of the fiat system. For engineers and skilled professionals, this shift promises a future where their work is valued transparently and equitably—a world where long-term rug pulls are a thing of the past.

@ 3bf0c63f:aefa459d

início

"Vocês vêem? Vêem a história? Vêem alguma coisa? Me parece que estou tentando lhes contar um sonho -- fazendo uma tentativa inútil, porque nenhum relato de sonho pode transmitir a sensação de sonho, aquela mistura de absurdo, surpresa e espanto numa excitação de revolta tentando se impôr, aquela noção de ser tomado pelo incompreensível que é da própria essência dos sonhos..."

Ele ficou em silêncio por alguns instantes.

"... Não, é impossível; é impossível transmitir a sensação viva de qualquer época determinada de nossa existência -- aquela que constitui a sua verdade, o seu significado, a sua essência sutil e contundente. É impossível. Vivemos, como sonhamos -- sozinhos..."

• Livros mencionados por Olavo de Carvalho
• Antiga homepage Olavo de Carvalho
• Bitcoin explicado de um jeito correto e inteligível
• Reclamações

---

• Nostr
• Bitcoin
• How IPFS is broken
• Programming quibbles
• Economics
• Open-source software

---

Nostr GitHub Telegram code

@ cdee943c:5e637400

Why would you set up a custom relay for Recipes?

Recipes are inherently rich in data, encompassing multiple ingredients, categories, cuisines, nutritional information, and detailed instructions. A custom relay tailored to handle a specific recipe event kind (nominally kind=35000) can:

• Optimize Data Retrieval: Efficient indexing and storage mechanisms ensure swift access to complex recipe data.
• Enhance Flexibility: Tailored configurations accommodate the unique structure of recipe events, making query filters more efficient and flexible.
• Improve Performance: Specialized handling reduces latency, which becomes a very important factor for high volume services.
• Support Advanced Features: Features like real-time syncing, bulk import/export, and efficient compression cater to the dynamic nature of recipe sharing.

By aligning the relay's architecture with the structure of recipe events, Nostr developers can build responsive and scalable applications.

Setting Up a Custom Recipe Relay

Option 1: Using khatru and Eventstore

1. Bootstrap a basic khatru relay:

2. Follow the steps outlined in the khatru docs: go relay := khatru.NewRelay()

3. Set up Eventstore:

   • Configure khataru to use Eventstore and Postgresql: ```go // Initialize Eventstore db := postgresql.PostgresBackend{DatabaseURL: "postgres://eventuser:securepassword@localhost:5432/eventstore_db?sslmode=disable"} if err := db.Init(); err != nil { log.Fatalf("Failed to initialize eventstore: %v", err) } // Integrate Eventstore with Khatru relay.StoreEvent = append(relay.StoreEvent, db.SaveEvent) relay.QueryEvents = append(relay.QueryEvents, db.QueryEvents) relay.CountEvents = append(relay.CountEvents, db.CountEvents) relay.DeleteEvent = append(relay.DeleteEvent, db.DeleteEvent)

   3. Modify tag handling - Update the `tags_to_tagvalues` function to handle multi-character keys, multiple tag entries, and nested structures:go _, err = db.DB.Exec( CREATE OR REPLACE FUNCTION tags_to_tagvalues(jsonb) RETURNS text[] AS $$ SELECT array_agg(t.value) FROM jsonb_array_elements($1) AS elem(tag) JOIN LATERAL ( SELECT CASE WHEN tag->>0 IN ('cuisine', 'category', 'ingredients', 'tags') THEN tag->>1 WHEN tag->>0 = 'nutrition' AND jsonb_array_length(tag) >= 3 THEN tag->>2 ELSE NULL END AS value ) AS t ON t.value IS NOT NULL; $$ LANGUAGE SQL IMMUTABLE RETURNS NULL ON NULL INPUT; ) 4. Add custom polices: - khatru supports setting custom event policies:go // Apply custom policies to accept only kind 35000 events relay.RejectEvent = append(relay.RejectEvent, // Built-in policies policies.ValidateKind,

   // Custom policy to accept only kind 35000
   func(ctx context.Context, event *nostr.Event) (bool, string) {
       if event.Kind != 35000 {
           return true, "Only recipe events (kind 35000) are accepted"
       }
       return false, ""
   },
   

   ) ``` 5. Pray that fiatjaf doesn't fire me

Option 2: Modifying Strfry's Configuration

Strfry is another robust Nostr relay implementation that leverages LMDB for local data storage. Stirfry uses the golpe C++ framework and by adjusting its configuration in golpe.yaml, you can tailor Strfry to handle recipe events optimally.

1. Optimize Indices:
2. Enhance indexing for specific recipe-related tags to speed up queries: yaml indices: cuisine: comparator: StringUint64 multi: true category: comparator: StringUint64 multi: true ingredients: comparator: StringUint64 multi: true nutrition: comparator: StringUint64Uint64 multi: true
3. Update indexPrelude:

   ```yaml
   indexPrelude: |
       PackedEventView packed(v.buf);
       created_at = packed.created_at();
       uint64_t indexTime = *created_at;
   
       id = makeKey_StringUint64(packed.id(), indexTime);
       pubkey = makeKey_StringUint64(packed.pubkey(), indexTime);
       kind = makeKey_Uint64Uint64(packed.kind(), indexTime);
       pubkeyKind = makeKey_StringUint64Uint64(packed.pubkey(), packed.kind(), indexTime);
   
       packed.foreachTag([&](char tagName, std::string_view tagVal, std::string_view tagVal2 = ""){
           // General tag indexing
           tag.push_back(makeKey_StringUint64(std::string(1, tagName) + std::string(tagVal), indexTime));
   
           // Specific tag handling for recipes
           std::string tagNameStr(1, tagName);
           if (tagNameStr == "cuisine") {
               cuisine.push_back(makeKey_StringUint64(std::string(tagVal), indexTime));
           } else if (tagNameStr == "category") {
               category.push_back(makeKey_StringUint64(std::string(tagVal), indexTime));
           } else if (tagNameStr == "ingredients") {
               ingredients.push_back(makeKey_StringUint64(std::string(tagVal), indexTime));
           } else if (tagNameStr == "nutrition" && !tagVal2.empty()) {
               nutrition.push_back(makeKey_StringUint64Uint64(std::string(tagVal), std::string(tagVal2), indexTime));
           } else if (tagNameStr == "tags") {
               tags_specific.push_back(makeKey_StringUint64(std::string(tagVal), indexTime));
           }
   
           // Existing conditions for 'd' and 'e' tags
           if (tagName == 'd' && replace.size() == 0) {
               replace.push_back(makeKey_StringUint64(std::string(packed.pubkey()) + std::string(tagVal), packed.kind()));
           } else if (tagName == 'e' && packed.kind() == 5) {
               deletion.push_back(std::string(tagVal) + std::string(packed.pubkey()));
           }
   
           return true;
       });
   
       if (packed.expiration() != 0) {
           expiration.push_back(packed.expiration());
       }
   ```
   

   Conclusion

Setting up a custom Nostr relay tailored for recipe events would enable developers to build highly performant and flexible applications. Whether it is using Khatru with Eventstore or modify Strfry's configuration, the key lies in aligning the relay's architecture with the features of recipe data. This approach not only improves performance but also lays a robust foundation for building feature-rich clients and applications within the Nostr ecosystem.

@ a95c6243:d345522c

Die Ungerechtigkeit ist uns nur in dem Falle angenehm,\ dass wir Vorteile aus ihr ziehen;\ in jedem andern hegt man den Wunsch,\ dass der Unschuldige in Schutz genommen werde.\ Jean-Jacques Rousseau

Politiker beteuern jederzeit, nur das Beste für die Bevölkerung zu wollen – nicht von ihr. Auch die zahlreichen unsäglichen «Corona-Maßnahmen» waren angeblich zu unserem Schutz notwendig, vor allem wegen der «besonders vulnerablen Personen». Daher mussten alle möglichen Restriktionen zwangsweise und unter Umgehung der Parlamente verordnet werden.

Inzwischen hat sich immer deutlicher herausgestellt, dass viele jener «Schutzmaßnahmen» den gegenteiligen Effekt hatten, sie haben den Menschen und den Gesellschaften enorm geschadet. Nicht nur haben die experimentellen Geninjektionen – wie erwartet – massive Nebenwirkungen, sondern Maskentragen schadet der Psyche und der Entwicklung (nicht nur unserer Kinder) und «Lockdowns und Zensur haben Menschen getötet».

Eine der wichtigsten Waffen unserer «Beschützer» ist die Spaltung der Gesellschaft. Die tiefen Gräben, die Politiker, Lobbyisten und Leitmedien praktisch weltweit ausgehoben haben, funktionieren leider nahezu in Perfektion. Von ihren persönlichen Erfahrungen als Kritikerin der Maßnahmen berichtete kürzlich eine Schweizerin im Interview mit Transition News. Sie sei schwer enttäuscht und verspüre bis heute eine Hemmschwelle und ein seltsames Unwohlsein im Umgang mit «Geimpften».

Menschen, die aufrichtig andere schützen wollten, werden von einer eindeutig politischen Justiz verfolgt, verhaftet und angeklagt. Dazu zählen viele Ärzte, darunter Heinrich Habig, Bianca Witzschel und Walter Weber. Über den aktuell laufenden Prozess gegen Dr. Weber hat Transition News mehrfach berichtet (z.B. hier und hier). Auch der Selbstschutz durch Verweigerung der Zwangs-Covid-«Impfung» bewahrt nicht vor dem Knast, wie Bundeswehrsoldaten wie Alexander Bittner erfahren mussten.

Die eigentlich Kriminellen schützen sich derweil erfolgreich selber, nämlich vor der Verantwortung. Die «Impf»-Kampagne war «das größte Verbrechen gegen die Menschheit». Trotzdem stellt man sich in den USA gerade die Frage, ob der scheidende Präsident Joe Biden nach seinem Sohn Hunter möglicherweise auch Anthony Fauci begnadigen wird – in diesem Fall sogar präventiv. Gibt es überhaupt noch einen Rest Glaubwürdigkeit, den Biden verspielen könnte?

Der Gedanke, den ehemaligen wissenschaftlichen Chefberater des US-Präsidenten und Direktor des National Institute of Allergy and Infectious Diseases (NIAID) vorsorglich mit einem Schutzschild zu versehen, dürfte mit der vergangenen Präsidentschaftswahl zu tun haben. Gleich mehrere Personalentscheidungen des designierten Präsidenten Donald Trump lassen Leute wie Fauci erneut in den Fokus rücken.

Das Buch «The Real Anthony Fauci» des nominierten US-Gesundheitsministers Robert F. Kennedy Jr. erschien 2021 und dreht sich um die Machenschaften der Pharma-Lobby in der öffentlichen Gesundheit. Das Vorwort zur rumänischen Ausgabe des Buches schrieb übrigens Călin Georgescu, der Überraschungssieger der ersten Wahlrunde der aktuellen Präsidentschaftswahlen in Rumänien. Vielleicht erklärt diese Verbindung einen Teil der Panik im Wertewesten.

In Rumänien selber gab es gerade einen Paukenschlag: Das bisherige Ergebnis wurde heute durch das Verfassungsgericht annuliert und die für Sonntag angesetzte Stichwahl kurzfristig abgesagt – wegen angeblicher «aggressiver russischer Einmischung». Thomas Oysmüller merkt dazu an, damit sei jetzt in der EU das Tabu gebrochen, Wahlen zu verbieten, bevor sie etwas ändern können.

Unsere Empörung angesichts der Historie von Maßnahmen, die die Falschen beschützen und für die meisten von Nachteil sind, müsste enorm sein. Die Frage ist, was wir damit machen. Wir sollten nach vorne schauen und unsere Energie clever einsetzen. Abgesehen von der Umgehung von jeglichem «Schutz vor Desinformation und Hassrede» (sprich: Zensur) wird es unsere wichtigste Aufgabe sein, Gräben zu überwinden.

---

Dieser Beitrag ist zuerst auf Transition News erschienen.

@ 6bae33c8:607272e8

So like another writer of my caliber who thought the end was nigh, I got a last-second reprieve. I mistakenly thought last week was the start of Q4, but it turns out it’s this week. That means the 2-3 is wiped off my record, and I’m still alive!

Now it’s important one does not squander such a rare second chance. The worst thing one could do in such a situation would be to pick recklessly, for example, like taking the Jets. That would be a serious mistake, like picking pockets of the people watching the public hangings of pickpockets. Only a fool, or a real man, would do that.

Jets +5.5 at Dolphins — This is almost certainly a mistake. There’s something wrong with the Jets, and the Dolphins are a solid team playing at home. I just had a buy-low feeling on the Jets, and the Massey-Peabody numbers had the two teams as near equals. Not that you should ever consult numbers like that unless it’s to confirm your priors. I’m already regretting this pick. You should probably take the Dolphins. Seriously.

Vikings -5.5 vs Falcons — The Vikings seems overrated, but the Falcons are just flat. Maybe it’s Kirk Cousins’ lack of arm strength, I don’t know. But I’m laying the wood and feel okay about it.

Titans -3.5 vs Jaguars — The Titans play a little defense, and Will Levis can sling it down the field. That’s enough for me against the Mac Jones Jaguars.

Buccaneers -7 vs Raiders — This line seems a bit light given what a doormat the Raiders are. It’s also an early body-clock game on the east coast for them.

Cardinals -3 vs Seahawks — The Seahawks have played better of late, but the Cardinals are the buy-low, and I think they’ll win this game to pull even in the division.

@ e83b66a8:b0526c2b

If you want a secure, private DM client which uses your own private NOSTR keys. Don’t use the client you use for public posting. It does encrypt the message contents, but nothing else, which means anybody can see you DM, who your DM’ing and the length of message.

At one stage, there was an annoying NOSTR bot that would publicly post all non gift wrapped DMs and tag the participants as a reminder to gift wrap your messages.

To obfuscate this, NIP-59 gift wrapping should be built in. This gives the same security level as a platform like Signal, but the advantage is you control the keys.

The best fully secure NOSTR decentralised NOSTR client is: 0xChat https://www.0xchat.com/#/

Once 0xChat is installed and you have entered your nsec (copying and pasting your private key is a security issue and one we are working on currently).

If you’re not sure where to find your nsec, look inside whatever app you are using for the “keys” section and most apps should allow you to reveal and copy your private key to paste into other apps. This is not good OPSEC practise, but is all we have for the moment.

Here, you’ll need a relay for your DM, Inbox and Outbox relays

You can use the defaults, your own, or my relay below:

My relay is: https://nortis.nostr1.com/ wss://nortis.nostr1.com/

Mine is a paid relay and costs 2,100 Sats per month per npub.

Everybody is then talking on the same server and can exchange messages using the Gift Wrap protocol NIP-59 https://nips.nostr.com/59

This creates 3 layers of encryption to encrypt the whole NOSTR event.

You now have your own private DM client that you control and whose keys you own.

Oh, it also has the ability to setup public or private groups and has a Cashu Chaumium ecash wallet built in which can be used for Lightning or ecash payments on NOSTR or in the real world to pay for goods and services.

@ 30ceb64e:7f08bdf5

Hey Freaks,

I like using SN and Nostr as something of an open diary, this time I'm back detailing my hustle in the fiat mines.

The Full Time Job Hustle

I was looking at obtaining a paralegal certificate and taking a few courses on Udemy and Coursera. I'll probably start on the 14th, was thinking I should probably bolster my main resume with more skills and certs. I'll start requesting additional tasks at work and look towards either a promotion or finding an interesting paralegal job elsewhere.

Here were a few resources I was looking to take advantage of

They're all inexpensive and I can work on them at my own pace, could bolster my resume and provide me with more knowledge and skills to bring to the table. I guess I'm more of an autodidact, was thinking if I paired those certificates with a few decent books and podcasts I'd be more of a force to be reckoned with.

I started with the firm strictly filing documents as an admin assistant. I guess my end goal, when it comes to my journey in the legal field, is to eventually work on more interesting things, for more money. Right now my job is mostly administrative, preparing patent documents, filing documents with the USPTO, and calling examiners to discuss errors in patent applications. Just like in most things.....I'm a noob when it comes to legal matters, but have a renewed interest in IP law and how it moves forward with the whole sovereign individual thesis hanging in the background and how it plays with Free open source software and my anarchist leanings.

---

The Part Time Job Hustle

Looks like I'll be working weekends as a Direct Support Professional. The job is from 9AM to 11pm...... and I'll be working with teens with disabilities and mental health conditions.

As a bit of a background, I was looking for additional weekend work because the wild wife is pregnant and I don't want her working. My main job as a formalities specialist at an IP law firm allows me to work from home, and the work isn't too hard, just a lot of typing and I grew up playing computer games, so typing and moving my mouse to click buttons is a specialty, that and my charming demeanor.....

I wanted a job that fit around my schedule and offered a decent amount of sats. A job that was doing something of value in the real world, and something with good employment prospects into the future. So I obtained a Home Health Care Aide certificate on Udemy, watched a few Youtube videos, and applied to 15 HHA jobs in my area (That's a lot of opportunity in the area, especially for weekend and evening jobs).

The interview went really well, I leaned on my military background, teaching kids how to perform Maintenance on F-16 fighter jets, and on my experience helping the elderly with small financial tasks at Bank of America. I received an offer letter, and they ended up offering me a salary which was more than I expected. I've finished the onboarding process and start orientation on Monday (taking a week vacation from the firm to take the paid orientation.)

I'm excited about the job. I'm pumped to get into a new field with pretty nice opportunity and prospects around me for long term sat stacking. I'm really interested to see how I'd be of service to the special needs kid........and know I have a lot to learn.

Wish me luck, And never stop the hustle! Wild

PS. written really fast, apologies for it being all over the place.....

@ 6dc1c1c9:e40b389b

Odds & Ends: December 6, 2024

The Virginian by Owen Wister. (https://amzn.to/4fVvqCy) I just finished this 1902 novel that essentially created the Western genre as we know it. Wister’s tale of a laconic, principled cowboy in Wyoming Territory established tropes we now take for granted: the showdown at high noon, the strong silent hero, and the eastern tenderfoot narrator learning the ways of the West. A core theme in The Virginian is honor (https://www.artofmanliness.com/character/behavior/manly-honor-part-i-what-is-honor/). I did a lot of underlining in my copy about that topic. Despite being over 120 years old, the book is surprisingly fresh and modern. If you want a better appreciation of the Western genre, from the best Western novels (https://www.artofmanliness.com/living/reading/21-western-novels-every-man-should-read/) to the top Western films (https://www.artofmanliness.com/living/reading/21-western-novels-every-man-should-read/) to the greatest video game of all time — Red Dead Redemption 2 — pick up a copy of The Virginian.

The Hot New Job for Men: Nursing. (https://www.wsj.com/economy/jobs/male-nursing-boom-high-demand-field-7733dfaf) Ten years ago, if you asked me how many dudes I knew who were nurses, the answer would have been zero. Today, I personally know several men who are nurses and even middle-aged men who are shifting careers to nursing. And it looks like this anecdotal uptick is backed up by data. Nursing is drawing more men than ever, with male RNs nearly tripling since 2000. The appeal? Job security and solid pay — registered nurses pull in $95,000 on average, with specialized roles like nurse anesthetists hitting $214,000. While males currently only make up 14% of nurses, that number’s climbing steadily as more men discover this potentially rewarding career path. It’s a big shift from the days when male nurses were the butt of jokes in movies like Meet the Parents.

Micro Gainz Microplates. (https://microgainz.com/collections/olympic-micro-plates) Have you stalled out on making progress on a lift like the overhead press and want to increase the weight, but adding the lowest plates available — typically 5-pounders — still feels like too big a jump? These fractional weight plates let you make tiny 1/2 to 2-pound increases, perfect for breaking through stubborn plateaus. At first glance, spending $60 on what amounts to metal chips might seem excessive, but the ability to make micro-jumps in weight is a game-changer for achieving progressive overload on upper-body lifts.

Jingle Bell Jazz. (https://amzn.to/3Bnfj1n) Not sure how this 1962 compilation made its way into my vinyl collection, but every December, I find myself giving it regular spins on my record player. It’s a good mixture of Christmas standards in various genres of jazz (https://www.artofmanliness.com/living/entertainment/jazz-appreciation-for-beginners/), including bebop, swing, and cool. It’s a perfect album for trimming the tree or sitting by a roaring fire reading a book on a cold December night. You can listen to the full album on YouTube (https://www.youtube.com/watch?v=jOtJJi3lX8A).

Also, this (https://www.facebook.com/photo/?fbid=965551785445345&set=a.663354332331760) really made me laugh.

Quote of the Week

Be not afraid of life. Believe that life is worth living, and your belief will help create the fact.

—William James

Help support independent publishing. Make a donation to The Art of Manliness! (https://donorbox.org/support-the-art-of-manliness) Thanks for the support!

https://www.artofmanliness.com/odds-ends/odds-ends-december-6-2024/

@ 63d59db8:be170f6f

This long-term visual investigation portrays the relationship that exists between extractive mining processes and the social and cultural displacements that occur.

For almost two centuries, the Atacama Desert has been a constant source of mineral resource extraction. The “Nitrate Offices” have left the mark of an era of riches and bad practices. Today, the situation is repeated as an exact cycle: what was nitrate passed to copper and today it turns to lithium, among other minor activities. All this is part of a legislative context lacking extractive regulations by Chile. It is in this context, where the “water rights” are sold to large mining companies, which ultimately determine how much water is left for the communities and towns adjacent to the mining company.

Marco's website: https://marcoszegers.cl/

Submit your work to our NOICE Visual Expression Awards for a chance to win 128,000 sats (currently). Deadline is December 31, 2024.

Visit our website to learn more: https://noicemagazine.com/SUBMISSIONS

@ 6bae33c8:607272e8

So my home picking pool has been tied three weeks in a row, setting up an unprecedented quadruple week. Accordingly, it was important to get the W in the Thursday night game, and I had Packers +3.5, so I checked that box. I also had Jahmyr Gibbs in the Primetime — I need a monster week to make the playoffs, and he did okay. Finally, I had Xavier McKinney as my DB in the Steak League, and he got his seven tackles. Otherwise, I was mostly rooting against everyone, and no one did much except Josh Jacobs who scored three TDs, and even then, 66 yards and no catches.

• Jordan Love made some insane throws under pressure. He put up modest numbers, but played a great game against an aggressive defense. The TD pass to Tucker Kraft was absolutely perfect.

• The Packers stuffed the Lions running game, especially Gibbs. I’ve rarely seen the Lions bottled up like that.

• Christian Watson had a nice game except for the fumble. You never know with the Packers, even with Romeo Doubs out. Jayden Reed didn’t even have a catch. The Lions got a lot of pressure even with a banged up defensive line.

• The Lions defense gave up 31 points, but it played better than I would have expected given all the injuries. The scoring was partly due to a pick by Jared Goff, a turnover on downs in their own end and Love threading the needle on a couple plays. But the Packers had only 298 total yards.

• Goff had time to throw and was his typical efficient self. The one thing missing was an effective running game, but when you use all four downs, you’ll usually move the chains barring penalties and sacks, and he was sacked only once.

• I love that Tim Patrick who no one started caught, two of the TDs. Goff spread the ball around fairly evenly to his three receivers and TE.

• I hope the Lions get some of their defenders back. This is probably the best team in the NFL when fully healthy, and the playoffs are more fun when teams are close to full strength.

@ 349d6b82:12b2a5b1

3 декабря состоялся марафон по биатлону, который стал настоящим испытанием для участников. Экстремальные погодные условия — сильный ветер и низкая температура добавили дополнительные сложности к уже установленному соревнованию. В спортсмены внедрена невероятная стойкость и выносливость, преодоление не только трассы, но и суровых зимних условий. В видеосюжет мы расскажем о том, как прошел марафон и какие эмоции наблюдались у участников:

@ 349d6b82:12b2a5b1

Центр Детского Творчества (ЦДТ) организовал уникальное мероприятие под названием "Фестиваль юных талантов", который собрал детей и подростков со всего города. Этот фестиваль стал важной вехой в жизни молодежного объединения, направленного на поддержку и развитие творческих способностей детей.

Фестиваль символизировал заботу о подрастающем поколении и их творческом развитии. Организаторы стремились создать платформу для самовыражения и обмена опытом между юными талантами. В фестивале приняли участие более 200 детей, представляющих различные школы и творческие объединения Серова. Среди них выделялись:

Анастасия Петрова, 12 лет, победительница конкурса художественной самодеятельности.

Иван Смирнов, 14 лет, участник театральной студии, который представил театральную постановку о дружбе.

Екатерина Лебедева, 11 лет, юная певица, исполнившая несколько популярных песен.

На протяжении всего дня проходили различные мероприятия: Дети могли попробовать себя в живописи, танцах, театре и музыке. Ещё участники представили свои художественные произведения, поделки и проекты. А на сцене выступали юные артисты с музыкальными номерами и танцевальными постановками.

Фестиваль стал площадкой для демонстрации талантов, местом для общения, обмена идеями и вдохновения. В завершение мероприятия все участники получили сертификаты и памятные подарки, а лучшие номера были отмечены специальными призами.

"Фестиваль юных талантов" - важный день для детей, который укрепит связи в сообществе, вдохновив новое поколение на творческие достижения. С нетерпением будем ждать этого фестиваля через год!

@ 42342239:1d80db24

The Dutch primatologist Frans de Waal coined the term "veneer theory" in his book "Our Inner Ape" in 2005. The veneer theory posits that human moral behavior is merely a thin veneer over an inherently unpleasant nature. This viewpoint can be traced back to Thomas Henry Huxley, an anthropologist and biologist who was a contemporary of Darwin. However, de Waal criticized the idea because humanity is far more cooperative than predicted by simple anthropological or economic models. However, it is possible to question how thick this "civilizing veneer" really is.

During the COVID-19 pandemic, some people discriminated against the unvaccinated , while others wished them a quick and painful death . In the United States, about 30 percent of those who voted for the Democratic Party wanted to take their children away . Professors wanted to imprison them . This was despite the fact that the vaccines did not prevent infection or reduce transmission very much (if at all).

There is an idea that evil actions often stem from ordinary people blindly following orders or societal norms.

The war between Israel and Hamas revealed a desire to collectively punish all residents of the Gaza Strip. For example, as many as 70 percent of Jewish Israelis say they want to ban social media posts expressing sympathy for civilians (""There are no civilians ."") On the other side of the conflict, there is a desire to punish Israeli citizens and Jews around the world for Israel's actions in the conflict, as shown by the storming of an airport in Russian Dagestan.

As a result of Russia's invasion of Ukraine, the alienation of ethnic Russians has become fashionable. Even Swedish defense policy pundits now found it appropriate to dehumanize Russians by calling them "orcs" (evil and warlike creatures with sharp teeth taken from J.R.R. Tolkien's stories). Others wanted to deny all Russian citizens entry . Recently, the software project Linux has removed Russian programmers simply because they are Russian. Similar rhetoric can be found on the other side.

All three of the above examples constitute a form of collective punishment, which is contrary to both the UN Declaration of Human Rights and the Geneva Convention . Yet few react.

The author Hannah Arendt coined the term "the banality of evil" when she studied Nazi war criminals. The term refers to the idea that evil actions often stem from ordinary people blindly following orders or societal norms without critical scrutiny. She argued that individual responsibility and critical thinking were of paramount importance.

In an iconic photo from the 1930s, a large crowd is shown with everyone doing the Hitler salute. Everyone except one. The man, believed to be August Landmesser , openly showed his refusal with crossed arms and a stern expression.

Imagine yourself in his shoes, standing among thousands of people who are raising their arms. Would you have the courage to stand still and quietly while everyone around you shouts their support? Or would you, like so many others, let yourself be swept along with the current and follow the crowd? Somewhere in there, you might have the answer to how thick this "civilizing veneer" really is.

---

Cover image: Picture of people giving a Nazi salute, with an unidentified person (possibly August Landmesser or Gustav Wegert) refusing to do so, Wikimedia Commons

@ dc0049d2:0d188043

Ein elektronischer Signalstörsender ist ein Gerät, das dazu dient, elektronische Signale in einem bestimmten Frequenzband zu stören oder zu blockieren. Es hat ein breites Anwendungsspektrum, einschließlich Militär, Handel, Bildung und anderen Bereichen. In diesem Artikel analysieren wir die Anwendungsfälle Elektronische Störsender in verschiedenen Bereichen und demonstrieren ihre Rolle bei der Aufrechterhaltung der Sicherheit, der Verhinderung von Betrug und der Verbesserung der Effizienz.

Anwendungen im militärischen Bereich Der Einsatz elektronischer Signalstörsender ist besonders im militärischen Bereich wichtig und wird hauptsächlich zur Störung feindlicher Kommunikationssysteme, Raketensysteme usw. eingesetzt. Durch die Störung der elektronischen Signale des Feindes kann das Militär das Kommando- und Kommunikationssystem des Feindes effektiv zerstören und sich dadurch strategische Vorteile verschaffen.

Fallbeispiel: Das US-Militär setzte Tragbare Handy Jammer ein, um während des Irak-Krieges das Kommunikations system der irakischen Armee zu stören, wodurch das Kommandosystem des Feindes effektiv gestört wurde und das US-Militär einen strategischen Vorteil erlangte.

Anwendungen im kommerziellen Bereich Der Einsatz elektronischer Signalstörsender im kommerziellen Bereich dient hauptsächlich dazu, die Weitergabe von Geschäftsgeheimnissen und den Diebstahl von Geschäftsinformationen durch Wettbewerber zu verhindern. Durch die Störung elektronischer Signale von Wettbewerbern können Unternehmen ihre Geschäftsgeheimnisse effektiv schützen.

Fallbeispiel: Ein Unternehmen nutzte einen GPS Blocker, um in das E-Mail-System eines Konkurrenten einzugreifen, wodurch Wettbewerber daran gehindert wurden, seine Geschäftsinformationen zu stehlen und seine Geschäftsgeheimnisse zu schützen.

Bewerbung im Bildungsbereich Der Einsatz elektronischer Signalstörsender im Bildungsbereich dient vor allem dazu, zu verhindern, dass Schüler während Prüfungen elektronische Geräte nutzen, um Informationen zu erhalten, und um zu verhindern, dass Schüler elektronische Geräte nutzen, um andere Schüler im Unterricht zu stören. Durch die Störung der elektronischen Signale der Schüler können Bildungseinrichtungen effektiv die Ordnung im Klassenzimmer aufrechterhalten.

Fall: Eine Schule nutzte einen elektronischen WLAN Scrambler, um die von den Schülern während der Prüfung verwendeten elektronischen Geräte zu stören, wodurch verhindert wurde, dass die Schüler während der Prüfung externe Informationen erhalten, und die Fairness der Prüfung gewahrt blieb.

Anwendungen im medizinischen Bereich Der Einsatz elektronischer Signalstörsender im medizinischen Bereich dient hauptsächlich der Verhinderung elektronischer Signalstörungen medizinischer Geräte und der Vermeidung von Sicherheitslücken in medizinischen Geräten. Durch Eingriffe in die elektronischen Signale medizinischer Geräte können medizinische Einrichtungen die Sicherheit medizinischer Geräte effektiv gewährleisten.

Fall: Ein Krankenhaus nutzte einen elektronischen Signalstörsender, um die elektronischen Signale medizinischer Geräte zu stören, Sicherheitslücken in den medizinischen Geräten zu verhindern und die Sicherheit der medizinischen Geräte zu gewährleisten.

8-Band Superstarker desktop störgeräte

Anwendungen im Bereich Sicherheit Der Einsatz elektronischer Signalstörsender im Sicherheitsbereich dient hauptsächlich der Vermeidung von Sicherheitslücken in elektronischen Geräten und der Verhinderung von Hackerangriffen auf elektronische Geräte. Durch Eingriffe in die elektronischen Signale elektronischer Geräte können Sicherheitsbehörden die Sicherheit elektronischer Geräte wirksam aufrechterhalten.

Fall: Ein Sicherheitsunternehmen nutzte einen Drohnen Störgeräte, um die elektronischen Signale elektronischer Geräte zu stören, Hackerangriffe auf elektronische Geräte zu verhindern und die Sicherheit elektronischer Geräte aufrechtzuerhalten.

Fazit Elektronische Signalstörsender werden in einer Vielzahl von Anwendungen eingesetzt, darunter in den Bereichen Militär, Handel, Bildung, Medizin, Sicherheit und anderen Bereichen. In diesem Artikel analysieren wir die Anwendungsfälle elektronischer Signalstörsender in verschiedenen Bereichen und demonstrieren ihre Rolle bei der Aufrechterhaltung der Sicherheit, der Verhinderung von Betrug und der Verbesserung der Effizienz. Durch den Einsatz elektronischer Signalstörsender können Unternehmen und Institutionen ihre Geschäftsgeheimnisse wirksam schützen, die Ordnung im Klassenzimmer aufrechterhalten, die Sicherheit medizinischer Geräte gewährleisten usw.

https://www.jammermfg.com/de/DE-T20-stationarer-storer-fur-Mobilfunk-und-internet-mit-fernbedienung.html

@ 65beb8bb:55cf5527

Test1

@ b70ccdb5:d475d2d3

Time flies, we're already today!

@ 961e8955:d7fa53e4

Several factors drive demand for Bitcoin:

• Investment and Speculation: Many investors view Bitcoin as a store of value or a hedge against inflation, driving up demand.
• Adoption and Use Cases: Growing acceptance of Bitcoin as a form of payment, increased use in e-commerce, and emerging use cases like DeFi drive demand.
• Global Economic Uncertainty: During times of economic uncertainty, such as recessions or political instability, investors may seek safe-haven assets like Bitcoin.
• Technological Advancements: Improvements in scalability, security, and usability, such as the Lightning Network, can increase demand.
• Regulatory Environment: Clear and favorable regulations can increase adoption and drive demand.
• Media and Market Sentiment: Positive media coverage and market sentiment can increase demand.
• Limited Supply: The capped supply of 21 million Bitcoins can contribute to increased demand.
• Network Effects: As more people join the Bitcoin network, it becomes more valuable, driving up demand.
• Institutional Investment: Increased investment from institutional investors, such as hedge funds and pension funds, can drive up demand.

@ 961e8955:d7fa53e4

Bitcoin's limited supply is a key factor that contributes to its value. Here are some ways in which the limited supply impacts Bitcoin's value:

• Scarcity: The limited supply of Bitcoin creates scarcity, which can drive up demand and, in turn, increase its value.
• Inflation Protection: Unlike fiat currencies, which can be printed indefinitely, Bitcoin's limited supply protects it from inflation. This means that the value of Bitcoin is less likely to be eroded by inflation.
• Store of Value: The limited supply of Bitcoin makes it an attractive store of value, similar to gold. Investors and holders may be more likely to hold onto their Bitcoin, rather than selling it, which can help to drive up its value.
• Increased Demand: As more people become aware of Bitcoin and its limited supply, demand for it may increase. This increased demand can drive up the value of Bitcoin.
• Reduced Selling Pressure: The limited supply of Bitcoin reduces the selling pressure on the market. With fewer Bitcoins available, there is less supply to meet demand, which can help to drive up the value.

Overall, Bitcoin's limited supply is a key factor that contributes to its value. The scarcity created by the limited supply can drive up demand and, in turn, increase its value.

@ 961e8955:d7fa53e4

Financial Benefits

1. Lower Transaction Fees: Bitcoin transaction fees are significantly lower compared to traditional payment systems.
2. Fast and Global Transactions: Bitcoin transactions are processed and settled within minutes, regardless of the sender's and recipient's locations.
3. No Inflation: The total supply of Bitcoin is capped at 21 million, which means that there's no risk of inflation.

Security and Transparency Benefits

1. Secure Transactions: Bitcoin transactions are encrypted and recorded on a public ledger called the blockchain, making them secure and tamper-proof.
2. Transparent Transactions: All Bitcoin transactions are recorded on the blockchain, providing a transparent and publicly accessible record of all transactions.
3. Immutable Transactions: Bitcoin transactions are immutable, meaning that once a transaction is recorded on the blockchain, it cannot be altered or reversed.

Autonomy and Accessibility Benefits

1. Decentralized and Autonomous: Bitcoin operates independently of central banks and governments, giving users full control over their financial transactions.
2. Accessibility: Bitcoin can be accessed and used by anyone with an internet connection, regardless of their geographical location or financial status.
3. Financial Inclusion: Bitcoin provides an opportunity for people in underserved or unbanked communities to participate in the global financial system.

Other Benefits

1. Diversification: Bitcoin provides a diversification opportunity for investors, as its performance is not directly correlated with traditional assets.
2. Limited Supply: The limited supply of Bitcoin makes it a scarce asset, which can help to drive up demand and value.
3. Growing Adoption: Bitcoin's growing adoption and recognition as a legitimate form of payment and investment can help to increase its value and stability.

@ 961e8955:d7fa53e4

Financial Benefits

1. Lower Transaction Fees: Bitcoin transaction fees are significantly lower compared to traditional payment systems.
2. Fast and Global Transactions: Bitcoin transactions are processed and settled within minutes, regardless of the sender's and recipient's locations.
3. No Inflation: The total supply of Bitcoin is capped at 21 million, which means that there's no risk of inflation.

Security and Transparency Benefits

1. Secure Transactions: Bitcoin transactions are encrypted and recorded on a public ledger called the blockchain, making them secure and tamper-proof.
2. Transparent Transactions: All Bitcoin transactions are recorded on the blockchain, providing a transparent and publicly accessible record of all transactions.
3. Immutable Transactions: Bitcoin transactions are immutable, meaning that once a transaction is recorded on the blockchain, it cannot be altered or reversed.

Autonomy and Accessibility Benefits

1. Decentralized and Autonomous: Bitcoin operates independently of central banks and governments, giving users full control over their financial transactions.
2. Accessibility: Bitcoin can be accessed and used by anyone with an internet connection, regardless of their geographical location or financial status.
3. Financial Inclusion: Bitcoin provides an opportunity for people in underserved or unbanked communities to participate in the global financial system.

Other Benefits

1. Diversification: Bitcoin provides a diversification opportunity for investors, as its performance is not directly correlated with traditional assets.
2. Limited Supply: The limited supply of Bitcoin makes it a scarce asset, which can help to drive up demand and value.
3. Growing Adoption: Bitcoin's growing adoption and recognition as a legitimate form of payment and investment can help to increase its value and stability.

@ c43d6de3:a6583169

The Hamster's Wheel

We fancy ourselves sophisticated animals - clever toolmakers and relentless innovators. Ingenuity, we believe, sets us apart from the rest of the animal kingdom. We clothe ourselves, build machines to save time and energy, and yet, somehow, we remain deaf to the relentless squeaking of a far more profound wheel.

Not the wheels of our cars or the gears driving the machines that sustain modern life, but a wheel few of us see or acknowledge. The wheel that, for all our intelligence, makes us no different from a hamster running endlessly in its cage.

The hamster's wheel is innocent - it spins for exercise, for a fleeting distraction. Ours, however, is far more sinister, propelling us in a ceaseless race toward ambitions we barely understand.

The hamster wouldn't even have a wheel to run on, were it not for us - the inventors of its cage. What does that say about the wheels we've built for our selves?

Collective Unconscious

Think I'm full of it? Ask yourself: what does it really mean to live a good life?

At any stage of life, the answer might sound familiar to those around you. A student might say it's about getting good grades, attending a prestigious school, and eventually building a family. A young professional might define it as landing a coveted promotion or hitting a certain salary milestone. For a parent, a good life might be one where their children grow into successful, functional members of society.

No matter where you are in life, the concept of progress seems inescapable. Whatever you believe constitutes a good life, it likely aligns with the idea that progress is essential. Achieving goals, moving forward, and hitting milestones - this is what we equate with a good life.

It's an idea so pervasive that it might feel inevitable, even natural.

Carl Jung might have called this an archetype of the collective unconscious: a deeply ingrained idea that subconsciously shapes how we think and act as a society.

We see patterns in nature and mirror them, claiming that moving forward is the only just path. The idea that "Backward" connotes failure or misdirection, is embedded in our collective mythos. This belief silently influences our individual and collective goals, often without our explicit awareness.

The idea of progress influences individual choices, directs institutions, and codifies laws into our governments.

Lifting the Veil

Once you recognize how deeply this idea permeates everything we do in life, it becomes almost impossible to ignore. It's like the uncanny feeling when someone points out that you have something stuck in your teeth - you immediately wonder how long it's been there before anyone mentioned it.

Consider how the idea of progress has shaped not only your personal aspirations but also our collective societal goals.

A "good" career is often defined as one that propels society forward. Jobs in tech, for example, are celebrated with yips and hoorays, while jobs in waste management are met with quiet prayers for better opportunities. Tech jobs shape the future, while waste management deals with the shadows of today - shaded by the scraps and remnants of yesterday's meals. One is seen as advancing society, while the other is viewed as stagnant, burdened with managing the detritus of the present.

Governments, too, prioritize growth and innovation, aiming to boost Gross Domestic Product (GDP) by investing in scientific breakthroughs and space exploration. In contrast, social welfare programs are often dismissed as wasteful, mired in outdated "backward", communist, political ideologies.

Even religions, which serve as bastions of conservatism and tradition, now seek fresh approaches to attract young followers.

This relentless pursuit of progress has broken down cultural barriers, fostering a universal appeal for modernity. Yet, in doing so, it has eroded cultural diversity, imposing a singular vision of what it means to be "modern." Consider the way a modern person dresses, what image does that conjure in your mind? How might that conflict with the multitude of cultures in the world whose dress might seem a bit "backward".

While most of us, whether consciously or unconsciously, continue along this path of progress, there's often a nagging sense that something is off. We witness the environmental consequences of prioritizing short-term gains over ecological sustainability, as though progress demands we sacrifice one to achieve the other.

And still, we forge ahead - into the uncharted territories of genetic engineering and artificial intelligence - despite the glaring risks that anyone with even the slightest imagination can foresee. Progress, it seems, is a force we cannot stop, even when the outcomes may lead us to question if it was worth the cost.

The Duality of Progress

I admit I may have come off a bit strong up to this point. It might seem as though I'm condemning progress outright. However, my intent is not to dismiss progress but to highlight its pervasive grip on society worldwide.

Humanity didn't always carry this relentless obsession with progress - it's not some inherent "brain virus" we were born with. We can trace its roots to the Enlightenment, roughly 340 years ago. During that period, the modern framework of progress began to take hold, coinciding with the founding of what would become the United States. It's no coincidence, perhaps, that this nation has since led the charge in declaring progress as the only just way forward - a belief rooted in Enlightenment ideals of reason and innovation.

No doubt, much good has come from the pursuit of progress. Where would we be if we had never dared to defy "God's will" and create cures for once-deadly diseases? Who would have been driven to invent flying machines or automobiles, tools that maximize the brief time each individual has on this planet?

Progress has also shattered oppressive systems, freeing entire groups, cultures, and classes from the bonds of slavery and servitude as human rights have advanced.

Should we take progress for granted? Is it simply an inevitable outcome, a path we only need to follow until we arrive at utopia?

Countless works of literature explore the folly of anchoring one's aspirations to the idea of perpetual progress. The Great Gatsby offers a poignant example through the life of Jay Gatsby. For him, the goal was to become "The Great Gatsby" - the richest, most admired version of himself - believing that this transformation might fill the void in his heart and finally earn him true love.

This void isn't unique to Jay Gatsby. Despite living in what is statistically considered the best time to be alive in the history of mankind, we also face an era marked by the highest recorded rates of mental health issues, particularly in the most "advanced" nations.

It seems the mythos of progress is not something to be taken lightly. It is neither inherently good nor bad, but it must be approached with awareness and understanding, not blind faith.

Why Few Understand the Progression Paradigm's Influence

You don't know what you don't know. And when you know something too well, it can start to feel like an undeniable, objective truth rather than a cultural construct. This makes it all the more difficult to recognize when we're blindly following a path laid out for us.

We're taught to believe in a "natural" progression of humanity - from hunter-gatherers to industrialized societies - yet we often overlook the sideways steps and detours humanity has taken along the way. As far as I know, every person educated in institutionalized schools has been introduced to this narrative of human civilization, meaning many of us have been drinking the Kool-Aid from an early age.

This mythos embeds itself even further in our media and politics, shaping our worldview. But, like noticing something stuck in your teeth, once you become aware of it, it's hard to ignore - and you feel compelled to act.

Another gift of the Enlightenment, the scientific method, teaches us that truths about nature can be uncovered through experimentation. Yet these "truths" hold only as long as they aren't disproven.

So, what is there to disprove here?

Progression is always good for mankind.

Taken to its logical conclusion, it wont always be. I desperately hope we don't get to the point to when we can definitively prove that.

Man Evolves but the World and His Mind Vanish

Single-minded pursuit of progress at all costs is inherently all-consuming. Left unchecked, it threatens to erode both our physical and mental well-being, transforming humanity into something entirely unrecognizable. We are on the brink of such a transformation with the rise of genetic engineering, bio-technologies, and artificial intelligence.

Joe Rogan aptly describes this phenomenon as the "human cocoon." Much like a caterpillar mindlessly consuming leaves on a branch, humanity has ceaselessly innovated and progressed, weaving itself into a cocoon of technology. One day, just as the caterpillar emerges as a butterfly - an organism almost entirely different from its former self - we too may evolve into something radically altered: a technological being fully divorced from the organic nature that binds us to this planet.

Perhaps he's right. But if we awaken to the grip this narrative of relentless progress holds over our civilization, we may still have a chance to shape a different future. By adopting an interdisciplinary approach, we can ensure we do not succumb to the pitfalls of becoming the techno-larvae Rogan warns of.

Incorporating regional ethics rooted in cultural beliefs and ecological principles into our discussions about progress could provide a more sustainable and equitable path forward. This active, conscious approach would enable humanity to navigate its evolution while remaining connected to the organic world that sustains us.

@ 000002de:c05780a7

I've been using Minibits.cash app on GrapheneOS for my external wallet for a couple weeks. Thought I would provide an update.

Minibits is an eCash and Lightning wallet. It supports LNURL which is nice. Overall its the easiest and best eCash app I've tried. As others have mentioned I do have issues spending with NWC. But the LNURL support seems to work really well. I am guessing the NWC issues are related to their Lightning node liquidity because I often have failures with paying lightning invoices at the same time NWC payments fail.

I have a few mints set up and the CoinOS one seems to be more reliable.

Curious if others are using other NWC apps. For what its worth I have tried to set up NWC on my own node a few times now and it has been really inconsistent with Nostr apps. If I can even get it to make connections. I haven't had the time to figure it out yet.

originally posted at https://stacker.news/items/797148

@ 31312140:2471509b

The Hidden Dangers in Your Home

The Toxic Ingredients

Most household and personal care products are a cocktail of toxic chemicals. Despite the pretty labels "all-natural" or "eco-friendly" solutions, these items often contain substances you wouldn’t want anywhere near your skin, mouth, or home in general.

Parabens and Phthalates

Parabens and phthalates are commonly used as preservatives and plasticizers in a wide range of products. They can disrupt your endocrine system, leading to hormonal imbalances. This can result in anything from reproductive issues to an increased risk of cancer. Parabens are often found in cosmetics like lotions, shampoos, and makeup, phthalates are commonly found in fragrances and PVC plastics.

The Danger of Fragrances

Ah, yes. The alluring scent of fresh laundry or a floral shampoo. But here’s the kicker—these fragrances are often made from synthetic chemicals that can provoke allergies, disrupt your hormones, and even cause respiratory issues. Companies are not legally required to disclose the specific chemicals used in their fragrances, making it tricky to know what you’re actually exposing yourself to.

Sodium Lauryl Sulfate (SLS)

SLS is a detergent and surfactant found in many personal care products like toothpaste, shampoos, and even soaps. It’s known for skin irritation and has been linked to a host of other health issues. Studies suggest that prolonged exposure can be harmful to the tissues in your mouth and could contribute to the formation of ulcers and canker sores.

Triclosan

Widely used as an antibacterial agent in products like soaps and deodorants, triclosan has been shown to disrupt thyroid function and contribute to antibiotic resistance. Long-term exposure can mess with your microbiome and weaken your body’s natural defenses.

The Environmental Impact

Pollutants in Water Supply

Personal care products contribute to water pollution, especially when these toxins wash down the drain into the water supply. Many of these chemicals are not effectively removed by wastewater treatment plants. They can end up in our rivers, lakes, and even our drinking water, causing harm to aquatic life and potentially returning to us through the water we consume.

The Synthetic Scourge

Microplastics and synthetic compounds from household products accumulate in the environment. These pollutants don’t break down easily, causing long-term damage to ecosystems around the world. Think about it—every time you wash your clothes, you might be releasing microplastics into the water system, harming marine animals.

Solutions and Alternatives

Go Natural

The best way to avoid these harmful chemicals is to go back to basics. Opt for products that list all-natural, organic ingredients. There’s an increasing number of companies dedicated to creating genuinely non-toxic products.

DIY

Making your own household cleaners and personal care products is easier than you think. Simple ingredients like vinegar, baking soda, coconut oil, and essential oils can replace a multitude of toxic products. For instance, mixing baking soda and vinegar in equal parts can create an effective all-purpose cleaner that’s surprisingly effective without the side effects.

Be an Educated Consumer

Knowledge is power. Start reading labels and researching ingredients. Just because a product is labeled "natural" or "organic" doesn’t mean it's free of harmful substances. Check for certifications and look up brands that genuinely prioritize health and environmental sustainability.

Conclusion

The household and personal care products you use daily could be slowly undermining your health and environment. It’s high time you took a good, hard look into what you’re bringing into your home. Challenge the status quo, make informed choices, and safeguard the health and well-being of yourself and your loved ones. Remember, the small changes you make today can have a powerful impact on your tomorrow. 🌍

Suggested Readings

"Not Just a Pretty Face: The Ugly Side of the Beauty Industry" by Stacy Malkan

"Green Clean: The Environmentally Sound Guide to Cleaning Your Home" by Linda Mason Hunter and Mikki Halpin

References

"Endocrine-Disrupting Chemicals in Cosmetics" by Andrea C. Gore, Barbara Cohn

"Chemical Exposures: The Ugly Side of Beauty Products" by Julia R. Barrett

"Health Effects of Sodium Lauryl Sulfate (SLS)" - Journal of the American College of Toxicology

Hope that gives you plenty to ponder. 💡

@ 17538dc2:71ed77c4

Nostr Onboarding Questionnaire

Below are are results of the nostr qualitative onboarding questionnaire created by elsat in early November, 2024. Responses are from 22 nostr surivors/masochists. Results are not representative of people who never made it past onboarding. These are folk that remained on nostr, and were active around the time I asked for volunteers to provide feedback on onboarding to nostr.

Let me know if anything stands out, if you have questions about any particular response!

I. Did you onboard to nostr on your cellular network, on wifi?

14 Wifi; 7 cell; 2 both; 1 other

II. What was the biggest pain point in onboarding to nostr?

Discovery

Discover interesting content and other people Finding the right content. Discovery. Loading/lacking data figuring out how to find interesting people Finding npubs

Value Prop & Learning Curve

Knowing how it differs from tradsofiu Learning the difference between the protocol and the app I needed to download and onboard through. Choosing a client. Trying to figure it out on my own.

Key management

Private/pub key handling That's definitely key management. How and where to store it to have it secure, still accessible for use with other apps in a secure way. Getting my nsec in without pasting it

Relay setup

Setting up relays, discover interesting users to follow, > building your own feed figuring out relays Finding reliable relays to join.

Wallet Setup

Setting up a lightning wallet Lightning wallets for sending and receiving Zaps.

Notifications

Notifications [presumably missing notifications]

Accessibility

Finding a very good accessible client for the computer (I'm blind). Amethyst seems to be good on my Android device, but I avoid smartphones.

Scary links

I tried to "onboard" (ie expose) friends to nostr by sending them links to interesting/funny notes here and there. But some of the default sharing links I use (Amethyst -> Njump) are so long that they always think it's some spam. (Primal has nicer web links)

Customization

Figuring out profile setup, lots of unfamiliar fields

III. What part of nostr "wow'd" you, and when did this happen?

take your social graph with you; distribute your data

That all the data is already there if you use different clients and you take your social graph with you through completely different apps. seamless account a mobility of course ccount easy switching between clients Moving my social graph between clients. Happened in the first days of usage. Cross over between different clients. Happened on a Tuesday.

V4V, freedom, exclusive, and censored content

Freedom, some V4V and exclusive content, some censored content The clear messaging why nostr was better than mastodon/ activitypub

Flexibility, BYO Algorithm, Control

The insane flexibility. Nostr is a textbook example of "worse is better". So I think I was converted when I realized how much could be built with this, not just social media. My "Aha! This is more than just a Twitter clone" moment was when I stumbled on Oddbean. Also there's this whole "bring your own algorithm" / "build your own algorithm" to the social media side of it. And we're starting to see that work out in practice, with things like bitvora's algo-relay. Complete control A digital portable social identity that I can take with me from one app to another. December 2022. Experiencing the interoperability when i tried Listr, spring '23 I think Initially it was decentralization and censorship resistance. >You can spin a simple backup relay, own your data truly, and rebroadcast everything to different relays. Amethyst, adjusting the relays

Access to devs

Devs working in real time on it visible - too cool

Zaps

Zapping! Right away Zapping zaps! and also the small community After [initial censorship resistance phase is over], the most wow part was zaps, still is. Zaps for shitposting & being able to login into different apps with the same account

Cordiality

Open respectful discussion among people who do not agree Friendly discourse of users. Not toxic like other special media. First day.

IV Around what time did you onboard to nostr (e.g. July 2023)

Nov 2021 December 2021 2022 the single html page first POC client December 2022 Dec 2022 December 2022 Jan 2023 January '23 feb 2023 February 2023 Early 2023. Didn't really play around with it until December 2023 May 2023 June 2023 - Plebstr, November 2023 primal march 2024 amethyst, January 2025 notedeck I've been dipping my toes in the water since 2022 but just started taking it seriously last month. July 2023 March 2024 Summer 2024. August 2024 Nov 2024

V Which app

astral.ninja (2) Branle Damus (6)

"(needed the simplicity)"

PRIMAL (5)

"(needed the simplicity)" Amethyst (4)

Coracle Coracle and nos2x

Various

A combo of Amethyst (phone), nostrudel (web), and algia (command line). I'm a command-line junky. I also am fond of Oddbean, because it's basically a hackernews style thing built on top of nostr. But see my complaint about Nazi bar / Temple of Satoshi. Could not recommend to friends. At some point, I intend to set up strfry and my own Oddbean instance targeted to anti-capitalists.

Created my keys with alby

Can't remember the actual name

VI Have you experienced a failure in onboarding others to nostr? What exactly happened?

Poor experience trying to onboard newbs to nostr during the conference (mostly on iOS which I do not use), around 10-12 people. Granted the cell coverage was not great and not sure I remember everything that went wrong, but users were generally confused with loading/lacking data. Create a profile, then I tried to follow them but could not find them from Amethyst. So scanned QR code, which is a non-obvious step. Then their profile showed just the npub but no info or pfp, some commented on that. Followed them but they didn't receive a notification for that on Damus, this confused most. And then what? Post a note? (I was recommending #introductions ). While you wait for all this to load, tap, retry... between laughs you need to come up with conversation and try to somewhat defend nostr, tell them we're early and bugs will be fixed etc. On Primal follows do appear but feeds don't load. And it autofollows a bunch of random people - some liked it some didn;t. They posted a note and I wanted to like/zap it but I could not see that note on my client either, even though I'm connected to major relays (could be nostr.wine's fault, but I tried with the zap.store account as well). I saw one guy KYC himself 3 times with the wallet because when he switched to his email client to get the code and the app kept resetting the screen. Lucky that the majority of people were eager and did their best to try. Since some of these were after Jordi's talk where he offered several clients to download, it was not always my choice/recommendation on which client to download - they just came with it. I know we do our best but guys... it's bad. This reminds me of getting a newb to open a LN channel and get liquidity. Painful. If we have to centralize more to better onramps, so be it.

difficulty / friction

Picking a client

Yes. It's too technical. You need many tools to accomplish small tasks.

Yes, tried primal on Android. It failed to accept any profile changes

Not able to find other npubs when using search in several clients

stale

They got no new events, because they followed only a few users

They didn’t become frequent users because I’m the only person they know in nostr.

They lose interest in the network compared to traditional social networks. They were normies.

Some found it strange that you follow a bunch of bitcoiners (seemingly) by default (Primal iirc)

yes. non bitcoiners not interested in joining a small network of people just yet

quotes

I haven't tried to bring anyone to nostr. I am a bit scared to do so, because the place has a rep of being a Nazi bar and an extension of the Bitcoin cult. I do think that it is what you make of it, and I've tried to argue that point with friends. It's a protocol, nothing more. Don't wanna interact with Nazis and use Bitcoin? Nothing says you have to.

They don't care

I have not convinced anyone to use nostr

Too hard for most folk.

Not really.

No. Never tried.

No, onboarded two successfully.

Yeah I generally suck at getting people to check out new stuff

VII What, if anything, do you think confuses people during onboarding to nostr? Why? Have you observed this?

Setting a optional username is confusing for many and also they don't know what a NIP-05 is (they are likely to just fill in their existing mail address)

Finding some people. No progress of loading content or indication of time. Slight confusion where are DMs, home, etc, tabs basically

The why. Its much easier now, I was way confused DEC 22

Same on boarding is difficult to people on Nostur.

There is no app in the App Store called “nostr”

nips and relays

We tell people that you don't need KYC to use Nostr and then ask them for KYC for Lightning wallets.

No in-client intro to the "what" and "how" of it all. I haven't witnessed that, but I believe it could squash preconceived notions.

Key management. Especially because there is no key rotation(recovery option in a traditional email/phone way), if it leaks, you are done.

Safe keeping of your nsec. There are many ways to do it, all of them unfamiliar to most users.

When you don't see data you are expecting, be it a profile picture, a follow notification, or a note. Remember people who want to try Damus/Primal/etc microblogging clients come from twitter - so cater for transition from Twitter. Gen z snapchat/tiktok users don't care about nostr, no way to relate

Understanding how to filter for non-Bitcoin content.

need for setting up relays to filter the spam waves, finding the interesting follows, and difficulties setting up usable (even custodial) wallets.

Why would I want to use nostr?

Relays / keys

VIII What, if anything, do you think scares people away during onboarding to nostr? Why? Have you observed this?

Not much, but probably nsec backups and transfers if they knew

Dark web scary things

Technical questions

Personal responsibility for keeping nsec safe

Intuitiveness.

just not enough people on it for them (non bitcoiners)

Technical complexity with either Lightning or relay management.

Depending on client, slowness, difficult search, or feeling empty upon arrival.

Again, keys.

Bitcoin blah blah

I don't know anybody IRL that even use x

Their core influencers haven't adopted nostr yet.

IX What one improvement would make onboarding to nostr easier?

Explain it s not a platform and the current app you're using is replacable by other by (re)using your keypair

Twitter bridge

Honestly, from a technical standpoint, I found it pretty easy. Especially with Amethyst on the phone. So I'm not sure if I have an opinion here.

Private key management to hide the complexity

Little guide somewhere or a buddy to ask questions

An intelligent assistant to setup relays

Reach

bringing wallet of satoshi back! or some similar easy custodial lightning wallet

Better user and content discovery.

Clients dedicated to onboarding, education, and key management instead of social stuff

Key recovery/rotation option. How? Hell if I know. Smart people say Frost, something, something. XD

More established signing mechanisms

An easy GoTo FAQ How to add people; how to zap; etc.

Do not try to connect to 89239823932 relays and make it decentralized when people only care about the first impression?

More "other things" micro-apps, not do-everything whale apps

More users

X What, if anything, do you think should be addressed, or added to onboarding to nostr across most nostr apps? Why?

A skippable small visual intro guide

Content discovery

A way to hide duplicates of the same post.

Better user and content discovery.

Introductory level education, expecting a traditional social app experience then not seeing it

Right now for me everything starts and ends with key management. Maybe a simple signing and profile edit app available across all platforms and devices with option paired with hardware signing device.

An onboarding relay. Only accepts the first note for an npub (kinds 0, 1, 3). Maybe

Easier relay selection.

Make bunker actually work

Staged roll out of owning your own keys to help them understand what that means

XI Do you have any other observations, feedback, or commentary on onboarding to nostr?

Yes, I think I'd say that most of my complaints are social / cultural, not technical. Then again, I've been online since 1993.

People have gotten lazy and are used to being fed content for their interests. This doesn't happen easily on Nostr and needs improvement.

An empty feed is better than a pre-determined one.

We suck and there's no good reason why

I have never gotten bunker to work

XII What is your favorite onboarding experience to an app outside nostr?

Telegram (x2)

Onboarding to the fediverse was pretty good. Witness the fact that a lot of blind twitter moved there.

They're all mostly the same, email, password, confirm. So any that i can use without signup is superior.

Can't recall any that really stands out. But in terms of following users during the onboarding what music streaming apps do is really nice. You get presented with a list of artists and based on what artists you check to follow list adapts and shows you similar suggestions.

None in particular, but I like when account creation is delayed as much as possible, I.e there is a public experience for you to try the product with no commitment

Several I can't recall now. But we need to make it AT LEAST as good as Twitter because that's where our users come from

old Twitter, circa 2019

I prefer no onboarding needed

I like "log in with" buttons but fuck those walled gardens

@ fa1d8325:7c91882e

В Пятигорске разгорелись обсуждения по поводу недавно разработанной вакцины, которая содержит микророботов для поддержки иммунной системы человека. Местные жители выражают опасения относительно безопасности и потенциальных последствий использования данной технологии.

Вакцина, по заявлению разработчиков, должна улучшать иммунный ответ и защищать от различных заболеваний, а микророботы будут работать на обнаружение и нейтрализацию патогенов. Однако среди населения возникает много вопросов о возможных побочных эффектах внедрения таких технологий.

Представители местного здравоохранения призвали жителей сохранять спокойствие. Они отметили, что вакцина прошла предварительные клинические испытания и уверили, что дальнейшие исследования будут проводиться с целью оценки всех рисков.

Общественное мнение разделилось: одни поддерживают использование инновационных технологий, а другие требуют большей прозрачности и проверки информации о вакцине. Власти продолжают следить за ситуацией, а жители ждут дополнительных разъяснений.

@ fa1d8325:7c91882e

В Пятигорске завершилась реализация масштабного экологического проекта, инициированная местным активистом и экологом Макаром Осиповым. Проект, направленный на озеленение крыш городских зданий, получил признание на конкурсе лучших экологических инициатив города еще месяц назад.

Сегодня многие крыши в городе превратились в зеленые оазисы, украшенные разнообразными растениями — от деревьев до цветов. Этот шаг не только преобразил облик городского ландшафта, но и положительно повлиял на качество воздуха, создав более комфортные условия для жизни горожан. По словам Макара Осипова, озеленение крыш стало значимым вкладом в устойчивое развитие Пятигорска.

«Мы не просто улучшили экологию, мы создали новые зоны для отдыха и общения», — подчеркнул он.

Проект получил активную поддержку как от муниципальных властей, так и от широкой общественности, что подтверждает важность коллективных действий в вопросах охраны окружающей среды.

@ fa1d8325:7c91882e

Ученые из Пятигорска сделали прорыв в области косметологии, создав уникальную таблетку, которая способствует регенерации тканей. Этот инновационный препарат не требует инъекций или ботокса и уже успешно прошел клинические испытания.

Таблетка, разработанная специалистами из Пятигорского государственного университета и клиники Comilfo, представляет собой особую формулу, которая активизирует естественные процессы восстановления в организме. Она стимулирует клеточную активность, что, в свою очередь, улучшает состояние кожи и уменьшает видимость морщин.

Ученые считают, что новая таблетка может стать альтернативой традиционным методам омоложения, таким как инъекции гиалуроновой кислоты и ботокса. Она позволит людям улучшить свой внешний вид без хирургического вмешательства.

Клинические испытания показали высокую эффективность препарата. Участники отмечали заметные изменения в состоянии кожи уже через несколько недель после начала его приема.

Ожидается, что в ближайшее время таблетка станет доступна в аптеках и косметологических клиниках. Это сделает ее доступной для всех, кто стремится выглядеть моложе и привлекательнее.

«Мы очень рады, что наша разработка вызвала такой интерес. Таблетка для омоложения — это безопасный и эффективный способ улучшить состояние кожи без хирургического вмешательства. Мы надеемся, что она поможет людям чувствовать себя более уверенно и привлекательно,» — делятся ученые.

Однако важно помнить, что перед началом приёма любых препаратов необходимо проконсультироваться с врачом.

@ 9c47bb51:000381d0

If you could earn between 100-1,000 sats a day, what would that amount to if Bitcoin reached $1,000,000 per coin? Let’s do the math:

1 Bitcoin (BTC) = 100,000,000 satoshis (sats).

Current Bitcoin price = $101,000.

Future Bitcoin price = $1,000,000.

Daily Earnings in Fiat Equivalent at $1M/BTC:

•   100 sats/day = 0.000001 BTC/day = $1.00/day

•   1,000 sats/day = 0.00001 BTC/day = $10.00/day

Annual Earnings at $1M/BTC:

•   100 sats/day x 365 days = $365/year

•   1,000 sats/day x 365 days = $3,650/year

Even at the smallest level—earning 100 sats a day—you’re positioning yourself for significant long-term wealth as Bitcoin’s value increases. It’s a perfect example of the power of accumulation over time.

Why Every Sat Matters

Bitcoin is scarce, with only 21 million BTC to ever exist. That’s 2,100 trillion sats for the entire world. Each satoshi is a fraction of a finite resource, making it inherently valuable. If someone gives you even 1 satoshi, they are saying, “I appreciate your work. You’re making a difference.”

Whether you’re earning sats through:

•   Working: Salary or side hustle paid in Bitcoin.

•   Nostr: Engaging, posting, or contributing to communities.

•   Streaming: Providing value in podcasts or live content.

•   Rewards Apps: Using tools like Fold or other Bitcoin cashback services.

Every sat stacks up, and over time, those seemingly small earnings can become life-changing.

The Fun of Stacking Sats

Part of the magic of Bitcoin is the journey. Watching your small daily efforts compound into something meaningful is both empowering and exciting. So whether you’re earning sats, stacking on dips, or getting tipped on Nostr—have fun. Celebrate every sat. You’re building a future on a foundation of hard work and a revolutionary currency.

The Bitcoin ride is just getting started. Hold tight, stack consistently, and enjoy the journey to financial sovereignty!

@ dfc7c785:4c3c6174

Here goes my first proper long form Nostr post - yay!

What is Modulations? How did it begin?

I joined Substack when it launched and started writing a blog about a lot of general stuff and it had no direction, then during Covid I started getting back into music production, exploring music theory, learning synthesis which led me to becoming deeply fascinated in it all - I originally got into music as a youngster, learnt guitar and some keyboard playing in my teens and into my twenties back in the 90s. I wrote a simple piece of music software on both my Commodore 64 and Amiga 500, later moving on to the PC learning Cubase at the point in time when it was rather fresh to the world - it all made sense and I wrote a few tracks, releasing them on what was known as MP3.com at the time.

Fast forward some 20 years or so!

Around 2018, I started getting interested in Ableton and can remember rekindling my Yamaha CS2x to use with it and then two years later during Covid, this became a big thing for me, it helped keep me sane during the lockdowns.

Not long after Covid I started a Substack called Modulations, which makes use of it's blogging tools, audio and video embedding, podcasting and so on.

It's gained a lot of subscribers, did have some paid subscribers for awhile but since I've lost them, another good reason to gradually move the project over to Nostr.

What’s the plan going forward

I’ve always enjoyed journaling and writing about my music, the tools I use and the tools that I would like to try out in the future; of which there are many of course. These days so many new products are launched every month, all of which I tend to either ignore or add to my “maybe buy someday” list.

They come in two main forms, software or hardware and then they can all be divided into Synth, Sampler, Sequencer or FX.

There has been a desire in many to switch to what we call DAWless which I can’t help but think at times is a network effect of YouTubes influencers. Don’t get me wrong many of them are good at what they do and are aware that there are some highly desirable products out on the market.

For the non computer based musicians out there, who don't know what DAW means, it stands for Digital Audio Workstation.

Do we need them all though? Do we need to go DAWless, stick with the DAW or go for something in between?

I’m asking this for myself if I’m honest. I bought gear these past few years, sold some because I didn’t gel with it or it was gathering dust.

2025 may well be more of a Hybrid studio year, where I explore using Ableton, in conjunction with some hardware devices. I have my eyes on a couple, that will fit in well with what I already own.

In the meantime, check out https://modulatioos.substack.com

It will continue there for awhile but the dream is to Nostrify it completely if I can!!

@ 349d6b82:12b2a5b1

Волонтеры Серовского городского округа продемонстрировали истинное мужество и солидарность, организовав масштабную акцию помощи животным, пострадавшим от разрушительного пожара в Сосвинском районе. Их самоотверженные усилия привлекли внимание местного сообщества и властей, став ярким примером единства и социальной ответственности. Подробнее в видеосюжете:

@ f1989a96:bcaaf2c1

Good morning, readers!

In Thailand, the government initiated the second phase of its digital cash handout, targeting four million Thai seniors with 10,000 baht ($290) distributed via their state-controlled “Tang Rath” app. For all intents and purposes, this serves as a pilot for the Thai central bank digital currency (CBDC), which comes with stringent restrictions and requirements on its usage, including links to citizens' national IDs, facial recognition, and limits on where and when funds can be spent.\ \ Meanwhile, in Brazil, new regulations proposed by the central bank would ban digital asset exchanges from allowing users to withdraw stablecoins to self-custody wallets. If passed, this would set an unfortunate precedent for financial autonomy in Brazil, restrict citizens' movement of funds, and diminish their ability to have an alternative to the declining Brazilian real.

In a positive step for financial privacy, a US court determined that the Office of Foreign Asset Control (OFAC) exceeded its authority in sanctioning Tornado Cash, a digital asset mixing tool that provides users with transaction privacy. This ruling sets an important precedent, means US citizens can use Tornado Cash again, and is good news in general for builders of open-source privacy tools worldwide. In other privacy news, peer-to-peer Bitcoin exchange Robosats now shares an order book with fellow peer-to-peer Bitcoin exchange LNP2Bot via Nostr, making these privacy-centric on-and-off ramps more accessible and liquid for users worldwide.\ \ We end with the latest episode of the HRF x Pubkey Freedom Tech Series, in which HRF’s Arsh Molu interviews Jorge Jraissati, president of the Economic Inclusion Group, on the state of freedom technologies like Bitcoin in Venezuela following Maduro’s stolen election earlier this year. This is an essential listen to understand how open, decentralized, and uncensorable protocols are instrumental for human rights and financial freedom to flourish under repressive regimes.

Now, let’s jump right in!

Subscribe here

GLOBAL NEWS

Thailand | Begins Second Phase of CBDC Handout

Thailand has begun the second phase of its 10,000 baht ($290) digital handout (ostensibly a central bank digital currency), targeting 4 million senior citizens and distributing funds via the government’s “Tang Rath” app. This follows an initial handout of digital currency to 50 million Thais as part of an economic stimulus plan. Critics, however, argue the handout is more accurately a means to entrench financial control and sway votes in the upcoming election. The Thai government limited the initial handout to local spending, specific items, and a six-month expiration. The second phase will likely impose similar restrictions, including requiring registration and facial recognition in the Tang Rath app. According to Thailand’s prime minister, “the digital wallet system would form a digital infrastructure for Thailand by creating a digital ID for citizens to link to government agencies” — a disconcerting reminder of how CBDCs can amplify state control over individual financial activity under the guise of social support.

Brazil | Proposes Ban on Transferring Stablecoins to Self-Custody

The Central Bank of Brazil (BCB) proposed regulations prohibiting digital asset exchanges from allowing users to withdraw stablecoins (digital currency pegged to fiat currency) to self-custody. The restriction aligns with a bill passed in December 2022 that grants the BCB “authority” over the digital asset industry. While presented as a safeguard for international capital flows, it is more likely a front to diminish the financial autonomy offered by digital assets. If passed, it will limit individuals' movement of funds and set a chilling precedent for self-custody in a country where millions of Brazilians transact with digital assets on a monthly basis. As Brazilians face increasing economic instability and diminishing financial freedom, this regulation traps them further in a collapsing Brazilian real (BRL).

China | Prepares for Sanctions While Eyeing Taiwan

China is actively studying sanctions imposed on Russia to prepare for potential repercussions if it invades Taiwan. Chinese officials visited Moscow’s central bank, finance ministry, and other key agencies to analyze how Russia navigated economic restrictions. This proactive approach speaks to fears China may have over its $3.3 trillion in foreign reserves and overseas bank assets, which would face significant restrictions under Western sanctions. In an effort to mitigate these risks, China is working to diversify away from dollar-denominated assets and reduce reliance on US Treasury bonds, which underpin the global financial system. This comes amid escalating tensions with the US after Washington approved an arms shipment to Taiwan, prompting Beijing to vow “resolute countermeasures.”

Nigeria | Journalist Detained for Exposing Regime Corruption

The Nigerian Army’s 6 Division in Port Harcourt detained prominent investigative journalist Fisayo Soyombo, sparking national outrage over press freedom in Nigeria. Soyombo, known for exposing regime corruption, recently unveiled alleged smuggling operations involving the Nigerian Customs Service (NCS). The Foundation for Investigative Journalism, founded by Soyombo himself, demands his immediate release and condemns the actions as an attack on journalism. Under President Bola Tinubu, the government has intensified its dismantling of independent media, silencing critics and restricting tools and pathways that promote financial autonomy. This systematic repression denies citizens the ability to challenge inequality and secure a freer future.

Morocco | Drafts Law on Digital Assets and CBDC

Morocco is moving toward allowing digital assets and a central bank digital currency (CBDC). Central Bank Governor Abdellatif Jouahri shared that a draft law is currently in the adoption process that would reverse a ban on digital assets from 2017. The interest in a CBDC is nothing short of concerning in a country facing widespread repression and economic challenges. Citizens have already taken to the streets to protest rising costs, unemployment, and a lack of basic services. Centralized and programmable money provides the Moroccan government with newfound power to control individual financial activity and only serves to worsen these prevalent issues. Bitcoin adoption remains high under a regime that continues to fabricate economic hardship for its people.

LATEST IN BITCOIN NEWS, DEVELOPMENT, AND COMMUNITY

Tornado Cash | Fifth Circuit Court Lifts Sanctions

The US Court of Appeals for the Fifth Circuit ruled that the Treasury’s Office of Foreign Asset Control (OFAC) exceeded its authority by sanctioning Tornado Cash, a digital asset mixing tool that helps preserve transactional privacy. This reverses an earlier District Court decision that argued the software was under the authority of the US Treasury. The Fifth Circuit found that Tornado Cash’s smart contracts (self-executing lines of code) do not constitute “property” or “services” as defined under the International Emergency Economic Powers Act (IEEPA). They deemed these contracts more akin to “tools” than “services” requiring human effort, constituting "nothing more than lines of code.”

Robosats | Shared Nostr Order Book With LNP2Bot

Robosats, a privacy-focused peer-to-peer (P2P) Bitcoin exchange and HRF grantee, released version 0.7.3-alpha, introducing shared order books with LNP2Bot, a fellow P2P Bitcoin exchange and HRF grantee. P2P exchanges provide a decentralized, uncensorable, and private way for individuals to acquire Bitcoin — crucial in dictatorships with financial restrictions and heightened surveillance. The integration will allow users to access public trade orders from both platforms, creating a larger, more liquid marketplace for trades while reducing arbitrage opportunities. HRF is pleased to see the continued development and collaboration of privacy-focused Bitcoin platforms, which offer a vital on- and off-ramp for individuals whose financial privacy runs paramount for their safety.

Primal | Releases Version 2.0

Primal, a Bitcoin wallet and client for the decentralized Nostr protocol, released version 2.0 of its application, bringing new features and accessibility improvements to users. The update includes a Reads tab, allowing users to browse long-form articles, including HRF’s Financial Freedom Report, now natively on the platform. Additionally, an Explore Tab and Feed Marketplace help users connect, discover trending topics, and access tailored information. The update also brings a revamped search with customizable filters, making finding specific content easier. Primal continues to reinforce its role as a tool for uncensorable communication and greater financial privacy where needed most.

Ark | Introduces Virtual Channels for Instant Settlement

Ark Labs introduced virtual channels, a new feature enabling the instant settlement of transactions on the Ark protocol. Virtual channels facilitate payment channels without relying on backups, constant connectivity, or routing requirements. Ark itself is a layer-two protocol aimed at increasing Bitcoin’s scalability through fast and low-cost transactions. It accomplishes this by pooling Bitcoin liquidity, enabling users to make payments while providing liquidity providers the opportunity to earn fees. The primary tradeoff of Ark is that user funds expire if not used before a set period of time. You can learn about this update here.

Africa Bitcoin Conference | Upcoming Conference

From Dec. 9-11, activists, educators, and entrepreneurs will gather in Nairobi, Kenya, for the Africa Bitcoin Conference to discuss Bitcoin as a tool for resisting increasing global authoritarianism and promoting financial sovereignty. Attendees will participate in discussions, workshops, hackathons, and keynotes, exploring how Bitcoin can provide an economic and social foundation that empowers the individual, safeguards privacy, and fosters inclusion. HRF’s Financial Freedom team is sponsoring the event and will also attend, with keynotes delivered by Christian Keroles and Femi Longe. You can learn more about the conference here.

Chaincode Labs | Bitcoin and Lightning Development Program

Chaincode Labs, a Bitcoin research and development firm, invites developers to apply to its Bitcoin and Lighting protocol development program. This free, three-month course equips participants with the skills needed to contribute to Bitcoin open-source software while receiving mentorship from industry leaders. Open to developers of all experience levels, the program offers a pathway to careers in open-source software development. Applications close on Dec. 31, 2024.

RECOMMENDED CONTENT

HRF x Pubkey — Freedom Tech in Venezuela Post-Election with Jorge Jraissati

In the latest HRF x Pubkey Freedom Tech Series, HRF’s Arsh Molu interviews Jorge Jraissati, president of the Economic Inclusion Group, to discuss the state of freedom technologies in Venezuela following Maduro’s stolen election. Jraissati offers a detailed account of how technologies like Bitcoin are helping Venezuelans navigate an economic landscape marked by hyperinflation, authoritarian control, and restricted access to financial services. The conversation underscores the importance of open and decentralized protocols in empowering individuals to bypass government restrictions, preserve their wealth, and sustain hope in a nation facing profound hardships. Watch the full interview here.

A Response to Ideological Stereotyping by Win Ko Ko Aung

In this article for Bitcoin Magazine, HRF Global Bitcoin Adoption Fellow Win Ko Ko Aung addresses the ideological misconceptions surrounding Bitcoin stemming from individuals' preconceived notions of this emerging technology. Drawing on his experiences as a Burmese human rights advocate, Aung contrasts Western stereotypes of Bitcoin with his own personal story and emphasizes Bitcoin’s potential as a borderless financial tool for those living under authoritarian and repressive regimes. Read the full article here.

If this email was forwarded to you and you enjoyed reading it, please consider subscribing to the Financial Freedom Report here.

Support the newsletter by donating bitcoin to HRF’s Financial Freedom program via BTCPay.

Want to contribute to the newsletter? Submit tips, stories, news, and ideas by emailing us at ffreport @ hrf.org

The Bitcoin Development Fund (BDF) is accepting grant proposals on an ongoing basis. The Bitcoin Development Fund is looking to support Bitcoin developers, community builders, and educators. Submit proposals here.

Subscribe to newsletter

Apply for a grant

Support our work

Visit our website

@ 349d6b82:12b2a5b1

Вчера в Серове состоялось событие, которого ждали многие — грандиозный концерт легендарного исполнителя Александра Берегова! Этот вечер стал настоящим праздником музыки и эмоций, ведь артист вернулся на сцену после долгого перерыва. Подготовьтесь к незабываемому шоу в Дворце Культуры Металлургов, где собрались тысячи поклонников, чтобы насладиться как новыми композициями, так и любимыми хитами.

@ fcb65172:87f3c4ed

Two weeks ago, on a saturday night, my wife and I decided to go to a festival at our local park, not knowing what kind of festival it was. After dinner we looked at each other in that “what are we going to do tonight” kind of way, I’m sure you know it well, if you’re married too. Little did we know that we were going to head to a massive religious Team Jesus festival. We’re talking 5-10,000 sitting on the grass drinking mate and eating Asado (Argentinian Barbecue) while listening to religious preachers, gospel music, and, to my surprise, a Calvin Harris like DJ dropping beats. The only difference being- I didn’t meet this DJ in the summer, I met him that Saturday night, sitting on the park grass.

If I could go back a decade to tell a 19 year old me: “In 10 years from now, you are going to go out on a saturday night, spontaneously with your wife, to a religious festival featuring gospel music and religious preachers, AND, you are going to be perfectly fine with it. That same 19 year old atheist me, would roll his eyes in disbelief and laugh me out the room. As a kid, brought up in a very non religious Denmark, to whom the yearly church visit for the Christmas mass, was my idea of hell on earth, it seems unfathomable that I’m now a 29 year old man with a fairly close relationship to God. Whatever that even means. How did I end up here?

My Atheist Life and Upbringing

I am rebellious by nature. I absolutely despise the notion of anyone dictating how I have to live my life, telling me what I have to think. Having to console the Bible for the answer to all my dilemmas still, to this day, seems ridiculous to me. I mean, who swears by any book to such a degree that they would blindly turn to it, for consultation on every issue in their life? I used to be one of those annoying atheists who completely dismisses the existence of anything, but their own mind and consciousness. I used to say things like: “Religion is a tool for brainwashing, manipulation and the cause of all evil in the world” and “Religion creates wars not inner peace.” Uhh, and my personal favourite atheist line: “If a God really does exist, then why is there so much evil in this world?”

I’m sure you’ve heard these lines rattled off before– or maybe you, yourself spew such sentences, from time to time? Well let me tell you, they are all very convincing one-liner arguments, to a rebellious young man like me. So how did I come to “see the light" as they say?

What is God?

Over the past decade of travelling the world I have come to realisation, that God isn’t this construct of the Bible or the Quran or whatever flavour of holy script you subscribe to. You know, this all-seeing creator of life itself, who judges every single decision I make.

God, to me, is this inexplicable energy between me and the universe at large. God is this ever present energy which we all feel, but can’t quite put our finger on. It’s the energy that drives me to create, everyday– the energy that made me sit down to write this. It just feels right, like a calling– like I must write this story. That same energy made you read this. God is me. God is you. God is in everything and everyone you see around you. We are all mere images of God because we all create life where there previously was none. And we do it every single day, 24/7, all day every day.

Have you ever experienced the feeling that someone you’d never met showed up in your life, for a brief moment, to deliver you a message, a piece of advice or a nudge in the right direction? As if someone had sent them specifically to you? As if someone was listening to your thoughts? Let me tell you– I have had many such experiences in my life.

When I Met God

Let me give you an example. The year is 2018. It is early April. I’m sitting in a hostel patio in Buenos Aires, a cigarette in one hand and a one litre Quilmes beer in the other. I’m in disarray–split in my mind and with seemingly no goal to pursue.

I had been travelling for about a year. I had originally set out, with the goal of finding somewhere in South America, where I’d like to live for a few years, while becoming fluent at Spanish. But during my travels I had lost sight of my originally stated goal. I had instead come to think that I would go back to Denmark and study photojournalism. I had even bought a ticket back to Denmark. That’s why I was in Buenos Aires, to catch my flight back to Denmark in a couple of days. I know, what the hell was I thinking?...

A few months earlier during Carnival 2018 in La Paz, Bolivia, I had met the most interesting, gorgeous local Bolivian girl. She had showed me around La Paz everyday for the two weeks I was there. We talked for hours on end, at cafes, restaurants, and, at night, in bars or at viewpoints across the city. I would walk her home every night, or that is to say–as close as she would let me get to her door. She didn’t want her family to see us together–not yet.

After I left La Paz to keep on travelling, we stayed in contact. We would text each other at least every other day. She was clearly interested, so was I.

As I sat in this hostel patio in Buenos Aires, I got to know Marco, a Venezuelan man in his 40's, who had recently escaped the horror show that is Maduro’s Venezuela, in search of a better life in Argentina. One night, over many beers and plenty of cigarettes, I layed out my situation to Marco. I told him, I was in disarray– that I didn’t know what to do? Should I give up my original plan of living in South America and learning Spanish, to go home and study? What about the girl? I couldn’t take my mind off of her.

Marco lit a cigarette, leaned forward, and looked me in the eyes. It was at this moment he said exactly what I had been thinking all the previous days. He said ”Son, isn’t it obvious what you have to do? I see you texting this girl everyday. She is interested, and so are you. You said you planned to stay and live in South America. If you are serious about that plan, then get your ass on the next bus back to Bolivia and figure out how you can live there”.

Leave a comment

I am God. You are God

It felt as if Marco had been sent to that hostel, all the way from Venezuela, just for me. To tell me what I needed to hear and stear me back on track–towards my stated plan. The plan I had told the universe, or God, when I had left Denmark. Marco was an extension of God, presenting himself in my life for 5 days that April in Buenos Aires. The next day I went to Recreo, the central bus station in Buenos Aires. I ordered a ticket for the next bus to Bolivia. A few days later I arrived back in La Paz, as a surprise to the girl.

For the whole trip, I thought about what to say to her when I saw her again. I told her: “You are going to be my girlfriend” she smiled and said “Lets see about that”.

We have been together ever since. She is now my wife. She is an extension of God in my life, just as I am an extension of God in hers.

Marco is one of many examples of where a person I hadn’t known previously has carried an important lesson for me. Most of the time the lessons are good, sometimes they are hard lessons. What all the lessons have in common is: they are always lessons that have presented themselves to me, through that inexplicable energy between me and the universe at large. Lessons born out of my own stated will to God.

I am God. You are God. We are all God. We all create our own lives.

@ 349d6b82:12b2a5b1

Серове, 5 декабря 2044 года, скорбная новость потрясла наше местное сообщество: на 72-м году жизни скончался заслуженный спортсмен и тренер Александр Петрович Сирков. Он оставил глубокий след в мире спорта, воспитав множество чемпионов и привнеся значительный вклад в развитие физической культуры в своем родном городе.

Александр начал свою карьеру как выдающийся легкоатлет, завоевав множество медалей на всероссийских и международных соревнованиях.

После завершения спортивной карьеры он посвятил себя тренерству,__ где его подопечные не раз становились __призерами чемпионатов России и Европы.

Александр также активно участвовал в организации спортивных мероприятий и конкурсов, способствуя популяризации спорта среди молодежи.

Его вклад в спорт был отмечен множеством наград и почетных званий, среди которых звание "Почетный гражданин города Серова". Местные жители помнят его как человека с большим сердцем, который всегда поддерживал молодых спортсменов и вдохновлял их на достижения.

Смерть Александра Петровича стала большой утратой для Серова. Его память будет жить в сердцах тех, кто знал его, а также в успехах его воспитанников. Прощание с ним пройдет в эти выходные, 8 декабря 15:00, в спортивном зале, который носит его имя, что символизирует его неоценимый вклад в развитие спорта в городе.

@ 05351746:fcc956c4

I still remember the day back in 2017 when my wife came through the front door at our apartment with a smile on her face mixed in with anxious eyes. She looked at me and simply uttered "I am pregnant!". My first instinct told me she was trying to pull a prank to see what I would do. As I stood there, silent, trying to determine the motive behind her abrupt announcement she uttered the phrase again with such assurance it would have been foolish of me to doubt her. I do not remember what I said or did next but I do remember sharing in her blend of excitement and uncertainty.

\ Today marks the passing of 5 years since the birth of our youngest and that same mix of emotions still resides in my heart. Excitement springs up and creates a smile on my face when I first see it on his and uncertainty creeps in when I doubt my ability as a father. As I look back on these past 5 years of raising my youngest son I can think of many occasions where God has used this mix of emotions to mold my wife and I into better parents. The fear found in the uncertainty of of our own abilities has pushed us to pursue God's wisdom over our own. The joy experienced from watching a little boy grow and discover the world around him has created a grateful heart in us both. I am forever thankful for God giving us him. He has been a true blessing for my wife and I. We did not set out to have him when we did, God in His holy wisdom gave him to us according to His will. 5 Years ago when we got to see his face for the first time, the face that caused my wife and I to experience such a mix of emotions, I would never have been able to conceive of the blessings that were yet to come. I am truly in awe of God's providence and wisdom. My wisdom, if I can even call it such, does not even stand to be seen in comparison. Every time I speak my son's name I am reminded...who is like God?

@ 05351746:fcc956c4

The book of Job has been one of my favorite books of the Old Testament. Reading the story of a man who had gone through so much anguish in such a short period of time has always been a source of encouragement and guidance for me. One of my favorite phrases from Job is when he says "shall we accept good from God, and not trouble?” Likewise the teachings of Christ and the modeling of His teachings in the life of Paul and the early church has always guided me when dealing with any hardship. Over the past two months I have had to rely on this more than I have ever before.

As it neared my daughters second birthday in June she had yet to develop a single tooth. With baby teeth showing as early as three months my wife and I knew this was not a normal occurrence. With the help of our pediatrician we meet with a pediatric dentist and had some x-rays taken of my daughter's mouth. The results showed us that she was missing almost all of her baby teeth. Our dentist was taken back by this, it can be common for toddlers to be missing some baby teeth but my daughter was missing the majority of hers. Our dentist met with some of his colleagues to discuss my daughter’s case and they determined that she may have a very rare genetic disorder called Ectodermal Dysplasia.

Ectodermal Dysplasia is a group of disorders that affects structures in the ectoderm during development. Hair, skin, nails, teeth, and more can be effected and in a variety of different ways. There are over 150 different types of ectodermal dysplasia and there are only around 7,000 known cases of this disorder worldwide. We have been referred to a genetic testing facility in order to confirm this diagnosis. We are fairly certain that she does have this disorder as she has shown signs of having other symptoms associated with this disorder; such as an inability to sweat and the one tooth she has coming in appears to be abnormally shaped. We will have to wait till October to have her condition properly diagnosed. What we know for now is that she will not develop a proper set of teeth, with the possibility of not having adult teeth. We are meeting with the dental school at UNC Chapel Hill this coming Tuesday to talk about some options they may have to address this. We are very grateful for this opportunity and excited to see what they have in mind.

If you could, please pray for my daughter. This will be a long road and she will face many challenges as she grows up. I know I will be praying for her to be able to accept this difficulty with a smile, because it is one of the most beautiful smiles I have ever seen.

@ 6b0a60cf:b952e7d4

フォロワーリストを低コストで取得する仕様を考える

Nostr リレーはフォロワー数をカウントしたほうが良いを受けて考えたことを雑多に書き留めておきます

単一リレーの場合

NIP-45 COUNT を使う

短所

• 単一リレーで数えた総数でしかない
• 現時点では数を返すのみ
• 複数リレーでマージできるようにidsを一緒に返そうという提案もある

{"#p": ＜pubkey＞, "kinds": [3]} でREQする

短所

• 単一リレーで数えた総数でしかない
• フォロワーの数だけクソデカイベントが返ってくるので時間がかかるしギガが減る

複数リレーの場合

{"#p": ＜pubkey＞, "kinds": [3]} でREQする

長所

• 複数リレーでマージできる
• そこそこもっともらしいフォロワーリストが取れる

短所

• 一度でもフォローをしたことがある人のリストでしかない(後にアンフォローしたかもしれない)
• nostr:nevent1qqs829n0s3qa3wegnhpf6haz3t87hn9huznldd4x2ld6c0d02uq09gsge47l7
  • リストすべての公開鍵で接続リレーとkind3を調べ直してアンフォローされている場合を除く処理をすればそこそこ正確になる
  • 大変すぎる
• 未調査のリレーにフォロワーがいるかもしれない

新しいkind(フォロワーを格納する)を新設する

仮にkind1003とする
kind3と同じ構造とする

{ "kind": 1003, "pubkey": "＜Aさんの公開鍵＞", "tags": [ ["p", "＜Bさんの公開鍵＞"], ["p", "＜Cさんの公開鍵＞"], ["p", "＜Dさんの公開鍵＞"] ], // other fields... }

で、これ誰が作るの？

リレーが作る

• pubkeyにはAさんの公開鍵を入れることになるけど、署名するにはAさんの秘密鍵が必要だよ？
• 無理

クライアントが作る

• Rabbitやnostter等のクライアントにはプロフィール画面でフォロワーのところをクリックするとフォロワーの取得が始まる
• その際、構築したフォロワーリストをkind1003イベントとしてリレーに送ってしまえば良い
  • リレー毎でなく複数リレーのマージした結果であるが、その方が有用だろう
  • でもkind1003を作成した時期はアカウント毎にバラバラになってしまうね

誰が嬉しいの？

• クライアントは恩恵を受けない
• 本来kind1003の恩恵を受けるべきクライアント自身がkind1003を作らなくてはならない
• 統計調査に興味がある人が満足する
• そのためだけに各クライアントを使用するユーザーの端末のリソースを使う価値があるかどうか

そもそもリレーである必要があるだろうか

• リレーはシンプルであるべきだが、リレーに高機能を求めること自体は否定されるべきことではない
• NIP-50のように検索に特化したリレーもある

でもこの統計情報ってWebSocketで送られてくるべきものだろうか？HTTPで良くない？
リレーである必要すらなくて、REST APIを提供するサービスがあれば十分だよね？
外部サービスとして独自にデータを集めているサービスは既にある

• Nostr検索ポータル

これをNIPにする必要があるだろうか

• WebSocketやリレーが登場しないからといってNIPに定義してはいけないなんてことはない
• 例: NIP-96
• しかしNIPというのは仕様を共通化して共有するためのものであり、複数の実装を期待するものである
  • 統計API提供サービスなど1つあれば十分で、耐検閲性を目的として10個も100個も存在を期待されるものではない

@ 7ecd3fe6:6b52f30d

I went to bed last night at 96k, thinking we'd have another day of sideways consolidation, maybe if we're lucky a bump on the head at 99k before the 100k dumpers come in to "take profits"

But little did I know what was waiting for me when I opened up my crusty eyes, I checked the chart as one days after their morning wee and nearly wet the entire bathroom, 102k, must be a mistake, let's check Coingecko, let's check the local exchanges, let's check social media, and it was confirmed like 6 blocks in baby, there's no going back!

Ladies and gentlemen, grab your laser-eye NFTs and dust off those 2017 memes - we've finally arrived! Bitcoin has transcended the mythical $100,000 price point that HODLers have been hallucinating about since the Obama administration.

We have succesfully meme'd the dream into a reality, can anything stop us now? The Banana zone hath arrived

---

---

Why the big break?

Is it unrest in France with the government collapsing, is it South Korean uncertainty with their president declaring Martial law, is it Putin coming out to admit you can't ban Bitcoin?

Is it countries trying to find a hedge against Trumps' proposed tariffs?

Who knows?

To me it's just another day of sellers exhausted and buyers are eating through the order book like hungry-hungry hippos

Bottom of the bear to getting some serious air time

If you've been here for one full cycle, and stayed the course it's been a wild ride, we saw Terra Luna, FTX, Celsius, BlockFi blow up and a massive draining of liquidity from the market.

The dream was dead and we hit rock bottom in November 2022, at 15k, to those who nailed that absolute bottom, I salute you.

Anyhoo, it's been a slow grind upwards, the crab market of choppy consolidation normally is, but you psychos continued to hold steady and deploy capital even when number continue to go down!

The meme, the dream and now the cream

The bitcoin maximalists who've been sporting perpetual laser-eye Twitter and nostr profiles can now collectively exhale.

Those same folks who've been predicting "$100K by EOY" every single year since 2017 can now do a victory lap, wearing their tinfoil-lined Gucci tracksuits.

You were wrong many times, only to be proven right eventually!

Remember when explaining Bitcoin's potential value used to involve complex blockchain narratives and decentralization lectures?

Call up the cry babies

When Bitcoin looked down and out there were no shortage of doom and gloomers writing another failed obituary, Dan Pena, Charlie Munger, Warren Buffer, Peter Schiff and Peter Zeihan all had to yap and we listened and laughed

Let's hear what mama has to say on the subject of Bitcoin?

Keep dreaming. Bitcoin is never going to hit $100,000!

— Peter Schiff (@PeterSchiff) November 8, 2019

Now it's just: "Told ya so" - accompanied by shitcoiners and nocoiners are angry coz of dey enlarged medulla oblongata

---

Times like this, I often think of the wise and eloquent words of MSTR Gigachad Saylor

Put money into Bitcoin and wait for number to go up biggly, if number go down put more money in and wait for number to go up bigglier - Michael Saylor

---

Setting up base camp for the march up Mount Milli-manjaro

The journey to $1 million feels eerily similar. We'll witness another brain-melting crypto pilgrimage - let's call it Mount Milli-manjaro - where every Reddit thread and Twitter space will sound like a combination of economic prophecy and sci-fi fever dream.

Pro tip for newcomers: Pack extra copium, a sense of humor, and maybe some popcorn.

This ride is just getting started.

To the moon? 🚀🤡₿ Looks likely bar a massive black swan, 2025, looks like this thing is going to run with big Usain Bolt strides as we enjoy a year of price discovery, speculation and all the scams that will fester as retail comes piling in to make their overnight fortunes.

I know it's fun to hand out I told you so's and you should enjoy it, take the victory lap but even that gets old, while it's hard to do, try to stay humble and enjoy stack the perpetual top!

@ dfc7c785:4c3c6174

Just testing that I can post a note from Obsidian because this is absolutely flipping amazing!

@ 148755e6:450c107f

突然荒野に行きたくなったので行ってきたエントリーです

まずは練習。高尾山へ

Nostrは古今東西ありとあらゆるオフ会が生えており、

まるで荒野に行きたいという私の意志を完全に汲み取ったかのように「紅葉を見にいこうようオフ」がそこに生えていたので参加した。（しおんさんご主催ありがとうございました） 前半1時間くらいの坂道がマジきつかったです。前半キツすぎて後半足痛かった。。 終始人がいっぱいいて渋谷かと思った。

確かに道がかなり整備されていて、逆にコンクリート故に足が疲れたのかもしれない。隣の人は途中の急な坂道で足を滑らせてて、横で転倒事故が起きるかと思いました。

山頂に行っても人がたくさんいて、迷子になりかけた。あそこはスクランブル交差点や。 そして山頂の先にあるもみじ台まで歩くと人がまばらで、まったりして蕎麦食べたりしながら休憩して下山。

登りは暑くて汗かきましたが、山頂でまったりしてると汗も引いてきて少し冷えました。

下山はスイスイ。16時近くで結構暗かったので、冬の間は早めの登頂・下山がおすすめですね。

登り2時間・下り1時間半で概ね見込み通りって感じでした。

高尾山は登ってると景色が変わります。ちょっと開けた場所に出て下の街が見えたり、草木があったり、階段があったり、参道があったり。。そういう意味では退屈しない2時間でした。

ビギナー山とはいえ、革靴やヒールのある靴で登ってる人がいてびっくり。ツルッと滑ることあると思いますので、スニーカーで登ることをお勧めします。

舐めプしてたとはいえめちゃくちゃキツかったおもひで。

更なる練習。小浅間山へ

さて私は荒野に行きたいワケなのですが、高尾山に荒野はありませんでした。更なる練習として小浅間山へ。

前日（か前々日）に雪が降ったようで、山に雪が残っておりました。

それでも都内の汚れてべちゃっとした感じの雪ではなく、粉砂糖がちょっと積もってるみたいな感じで綺麗だった。

登り前半の30分くらい、景色や道が変わらず、ずっと歩きっぱなしになってしまいました。時間みて休憩しながら行けばよかったなあ。

登るにつれて気温が下がっていくのか、積雪が厚くなっていく。

40分くらいは割と平坦な道が続きますが、突然山頂っぽいものが現れて、「これを登れっていうのかい...？」とビビるほどピーンと急な道が出てきました。(写真だと分かりづらいですね)

ただ、高尾山のコンクリート道に比べると足の疲れはそこまででした。雪道なので気をつけて歩くという意味では疲れましたが、春〜秋とかは快適に登れるんじゃないでしょうか。

山頂に到着するとドーンと浅間山が見えて圧巻。

風が強くて飛ばされる恐怖はありましたが、なんとか無事でいられました。あったかいお茶美味しかった〜。

なぜかギャルの看板があって、謎でした。写真はひとまずありません。

山頂が2箇所あって、それぞれで眺めを満喫していたら結構時間が経ってました。

小さい背丈くらいの木や足元にちょっとした植物があったり、自分的にはかなり理想の荒野に近かったです。（植物に対する解像度が低すぎる） 往復で2時間程度の山らしいんですが、なんやかんやと2時間半強くらいいた気がします。

荒野ビギナーは小浅間山に往け

というわけで、荒野に行きたい人はまずは小浅間山を登ると良いと思います。 また登りたい。

荒野部部長

一緒に高尾山・小浅間山に登ってくれた方、ありがとうございました！ 個人的には来年の春までに秩父多摩甲斐国立公園に行き、来年の秋までに大山隠岐国立公園に行くという目標を立ててるんですが、 少々時間が空くので次どこに行こうかしらと考えているところです。

ヒントとしては、火山で、あまり高低差のないところだとビギナーの私にちょうど良さそうです。

とある情報筋によると伊豆大島が良さそうなので、次の機会に行けたらと思っています。

みんなで荒野に行こう！

@ a012dc82:6458a70d

Table Of Content

• Debt as an Investment Tool: A Controversial Perspective

• Leveraging Bitcoin for Debt: The Concept of "DeFi Loans"

• The Role of Institutional Borrowing in Bitcoin Market Liquidity

• Debt-Fueled Bitcoin Mining Operations: A Risky Bet

• Debunking Debt-Backed Stablecoins: Are They Truly Stable?

• The Paradox of Bitcoin Borrowing and Financial Freedom

• Leveraging Debt to Accelerate Bitcoin Adoption in Developing Economies

• Can Debt-Financed Bitcoin Purchases Fuel Bubbles?

• Debt as an Incentive for Innovation: The Role of Bitcoin Loans

• The Fear of Debt-Induced Market Manipulation

• Conclusion

• FAQ

Cryptocurrencies have revolutionized the financial landscape, and Bitcoin, being the first and most popular among them, has been a hot topic of discussion. As Bitcoin's popularity soars, so does the interest in its potential benefits and drawbacks. One intriguing question that arises is whether debt can play a positive role in the Bitcoin ecosystem. In this in-depth analysis, we will delve into surprising facts surrounding this very topic, evaluating the possibilities and implications. Brace yourself for an eye-opening journey into the world of Bitcoin and debt!

Debt as an Investment Tool: A Controversial Perspective

Many investors are eager to get their hands on Bitcoin, given its incredible price appreciation over the years. However, not everyone can afford to purchase large quantities of Bitcoin outright. This is where debt comes into play as a potential investment tool. By taking out a loan and investing in Bitcoin, investors believe they can ride the wave of the cryptocurrency's upward trajectory and generate substantial returns. While this approach has yielded impressive results for some, it also carries significant risks, such as the potential for increased debt burden in case of market downturns.

Leveraging Bitcoin for Debt: The Concept of "DeFi Loans"

With the rise of decentralized finance (DeFi) platforms, borrowers can now utilize their Bitcoin holdings as collateral to secure loans. These loans, commonly referred to as "DeFi loans," enable borrowers to access liquidity without selling their Bitcoin holdings. This concept has garnered attention and support from the crypto community, as it allows individuals to maintain their exposure to Bitcoin while meeting their financial needs. However, borrowers must remain cautious as these loans come with interest rates and the risk of liquidation if the collateral's value drops significantly.

The Role of Institutional Borrowing in Bitcoin Market Liquidity

Institutional players are increasingly entering the Bitcoin market, and many of them are exploring avenues to leverage their Bitcoin holdings. Institutional borrowing has emerged as a means for these entities to access capital while maintaining their exposure to Bitcoin. This trend has implications for market liquidity, as it injects more capital into the ecosystem, potentially stabilizing prices and promoting adoption. However, an excessive reliance on debt by institutions can also create vulnerabilities, leaving the market susceptible to sudden shocks.

Debt-Fueled Bitcoin Mining Operations: A Risky Bet

Bitcoin mining requires substantial computational power, which translates into significant expenses. Some miners resort to taking on debt to fund their operations and expand their mining capacities. While this strategy can yield profits during bullish market conditions, it also exposes miners to heightened risks during market downturns. In such scenarios, miners might find it challenging to service their debts and remain profitable, potentially leading to bankruptcies and a drop in the network's overall hashrate.

Debunking Debt-Backed Stablecoins: Are They Truly Stable?

Stablecoins, pegged to the value of traditional fiat currencies, are often used to provide stability in the crypto market. Some stablecoins are backed by a mix of fiat and cryptocurrencies, including Bitcoin. While these debt-backed stablecoins aim to offer stability, their reliance on underlying debt raises concerns about their resilience during economic crises. The recent development of regulatory scrutiny over stablecoins adds another layer of complexity to this matter.

The Paradox of Bitcoin Borrowing and Financial Freedom

Bitcoin's ethos of financial sovereignty often clashes with the idea of borrowing. The very essence of Bitcoin lies in providing users with full control over their funds, free from the influence of central authorities. When individuals borrow Bitcoin, they must relinquish some level of control over the borrowed assets, potentially undermining the principle of financial freedom. Striking a balance between leveraging Bitcoin and preserving its core principles remains an ongoing debate within the crypto community.

Leveraging Debt to Accelerate Bitcoin Adoption in Developing Economies

In developing economies, access to traditional financial services can be limited, hindering the adoption of Bitcoin and other cryptocurrencies. By leveraging debt in innovative ways, such as microloans denominated in Bitcoin, it is possible to accelerate the adoption of digital currencies in these regions. This approach can empower individuals with access to global financial markets and foster financial inclusion, revolutionizing the way money flows across borders.

Can Debt-Financed Bitcoin Purchases Fuel Bubbles?

As Bitcoin's price rallies, there is a growing concern that debt-financed purchases might contribute to speculative bubbles. In the past, excessive borrowing to invest in Bitcoin has coincided with price surges and subsequent crashes. Such situations raise questions about the sustainability of Bitcoin's growth and the potential consequences of debt-driven investment strategies.

Debt as an Incentive for Innovation: The Role of Bitcoin Loans

Bitcoin lending platforms have emerged as a way to connect lenders and borrowers within the crypto ecosystem. These platforms facilitate Bitcoin loans for various purposes, ranging from personal finance to business expansion. By offering competitive interest rates, these platforms encourage the circulation of Bitcoin, potentially driving innovation and ecosystem growth.

The Fear of Debt-Induced Market Manipulation

As more institutional players enter the Bitcoin market, concerns about potential market manipulation through debt-financed trading have surfaced. High-leverage trades can amplify price movements, leading to increased volatility and, in extreme cases, market manipulation. Regulators and market participants must remain vigilant to address any undue influence on the market due to excessive debt leveraging.

Conclusion

The question of whether debt can be good for Bitcoin is multifaceted and requires careful consideration. Debt can serve as an investment tool, a means for accessing liquidity, and a driver of innovation. However, it also presents risks, including market manipulation, instability, and potential bubbles. As the crypto space continues to evolve, finding a balanced approach that maximizes the benefits of debt while mitigating its risks remains an ongoing challenge. As investors and users, it is essential to stay informed, exercise prudence, and make informed decisions based on a deep understanding of the dynamic relationship between debt and Bitcoin.

FAQ

Can borrowing Bitcoin be safer than buying it outright? While borrowing Bitcoin may offer potential benefits in terms of capital utilization and risk management, it is not necessarily safer than buying it outright. Borrowing introduces the risk of debt burden, especially during market downturns.

Are decentralized finance (DeFi) loans trustworthy? DeFi loans can be a valuable tool for accessing liquidity without selling your Bitcoin holdings. However, they come with inherent risks, including the possibility of liquidation if the value of your collateral drops significantly.

How can Bitcoin mining operations benefit from debt? Bitcoin mining operations often require a significant upfront investment in hardware and operational costs. Debt can help miners fund their expansion and take advantage of profitable mining opportunities.

That's all for today

If you want more, be sure to follow us on:

NOSTR: croxroad@getalby.com

X: @croxroadnews

Instagram: @croxroadnews.co

Youtube: @croxroadnews

Store: https://croxroad.store

Subscribe to CROX ROAD Bitcoin Only Daily Newsletter https://www.croxroad.co/subscribe

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.

@ 472f440f:5669301e

The end of the first part of bitcoin's story has come to an end. Most of the story has yet to be written, but I feel confident in saying that reaching the $100,000 per bitcoin milestone is a clear demarcation between two distinct eras of bitcoin. Yes, we have hit the significant milestones of $1, $10, $100, $1,000, and $10,000 over the last fifteen years and they all felt significant. And they certainly were in their own right. However, hitting the "six figure" milestone feels a bit different.

One bitcoin is currently worth a respectable salary for an American citizen. Ten hunnid bands. Something that is impressive to the layman. This may not mean much to many who have been around bitcoin for some time. The idea of bitcoin hitting $100,000 was seen as a foregone conclusion for millions of people out there. Myself included. This price marker is simply an inevitability on the road to global reserve currency to us.

With that being said, it is important to put yourself in the shoes of those who have doubted bitcoin up to this point. For some reason or another, $100,000 bitcoin has been used as a price target that "will never be hit" for many of the naysayers.

"Bitcoin is a Ponzi scheme."

"Tulips."

"Governments will ban it if it hits that point."

"It can't scale."

"It will be 51% attacked."

"No one will trust bitcoin."

"It can't be the world's money."

And yet, despite all of the kvetching from the haters over the years, here we are. Sitting above $100,000. Taking a short rest at the latest checkpoint en route to the peak of the mountain. We hovered right under $100,000 for a couple of weeks. Nominally, where we stand today is much closer to where we were last week compared to where we were six months ago. But for some reason the price tipping over $100,000 has catapulted bitcoin to a new playing field. Where bitcoin stood yesterday and where it found itself six months ago seem miles below where it is today. Crossing over the event horizon of six figures forces people to think of bitcoin in a different light. Almost as if we have entered another dimension.

The last year has been filled with a lead up to this crossing over of the event horizon.

Financial institutions that have derided bitcoin for well over a decade were forced to bend the knee and offer bitcoin exposure to their clients. The mere offering of that exposure has resulted in the most successful ETFs in the history of this particular investment vehicle.

Governments around the world have been forced to reckon with the fact that bitcoin is here to stay and that they need to act accordingly. Thanks to the first mover actions taken by El Salvador and Bhutan, which have nonchalantly decided to go all in on bitcoin, others have taken notice. Will that be publicly acknowledged by the bigger governments? Probably not. But you'd be naive to think that politicians in the US seeing two very small countries making such big bets on bitcoin didn't induce at least a little bit of FOMO. Once the bitcoin FOMO seed is planted it's hard to uproot.

Combine this with the fact that it has become rather cool to be privy to the fact that the world's governments have become egregiously addicted to debt and money printing, that inflation is pervasive and inescapable, and that censorship and Orwellian control tactics are on the rise and it is easy to see why more people are more receptive to the idea of bitcoin.

All that was needed to create an all out frenzy - a slingshot effect up the S Curve of adoption - was a psychological trigger. Bitcoin crossing over six figures.

Well, here we are. The tropes against bitcoin that have been trotted out over the last sixteen years no longer have as much bite as they did in many people's eyes. Sure, there will be some butt hurt nocoiners and totalitarians who continue to trot them out, but crossing the chasm of six figure bitcoin will have an order of magnitude more people thinking, "I hear what you're saying, but reality seems to be saying something completely different. And, if I'm being honest with myself, reality is making much more sense than your screeching."

Unstoppable peer-to-peer digital cash with a hard capped supply has been around since January 3rd, 2009. December 5th, 2024 will be the day that it cemented itself as something that cannot be ignored. Part I of the bitcoin story has been written. The end of the beginning is behind us. On to Part II: the rapid monetization of bitcoin, which will cement it as the reserve currency of the world.

---

Final thought... I used some 2017-2020 era tactics to get into the writing mood tonight. 90210

@ 2063cd79:57bd1320

Gerade für Anfänger//innen ist es oft nicht leicht die in der Bitcoin Welt verwendeten Benennungen und Stückelungen zu durchsteigen. Was unterscheidet Bitcoin von bitcoins, wie viele Sats sind ein Bitcoin und was zur Hölle sind UTXOs? Und vielmehr noch, warum sollte mich das interessieren? Ganz einfach: Wer UTXOs vernünftig verwaltet, spart sich nicht nur potentiell zukünftigen Ärger, sondern kann sogar bares Geld sparen. Da die meisten Menschen mit finanzieller Vorbildung gewohnt sind in Konten oder Guthaben zu denken, bedarf es beim Verständnis von UTXOs sicherlich ein wenig Unterstützung. Also wollen wir uns dem Thema Schritt für Schritt annehmen.

---

Einstieg

Viele Neulinge haben die Vorstellung, dass ein bitcoin gleich einem bitcoin ist. Sie nehmen fälschlicherweise an, dass ein bitcoin immer als Ganzes existiert. Für viele ist der Moment, in dem sie erkennen, dass ein bitcoin aus 100.000.000 Satoshis besteht, der erste große Aha!-Moment. Die Erkenntnis, dass man nicht einen ganzen bitcoin kaufen muss, sondern kleine Einheiten erwerben kann, eröffnet vielen einen ganz anderen Blick auf Bitcoin. Bekannte Sprüche, wie "ich bin zu spät dran" oder "ich kann mir keinen bitcoin leisten" hat jeder schon mal gehört und wenn man dann erklärt, dass man kleine Mengen für Cent-Beträge erwerben und versenden / erhalten kann, ändert dies die Grundhaltung zu Bitcoin von Grund auf.

Der nächste Schritt bei der Erkenntnisreise von Bitcoin ist das Verständnis über UTXOs (Unspent Transaction Output).

💡Ein UTXO ist das Stück Information jeder Bitcoin-Transaktion, das an eine neue Adresse ausgegeben wird, die als Eingabe für zukünftige Transaktionen verwendet werden kann.

Der einfachste Weg, UTXOs zu erklären, ist eine einfache Analogie zu Geld im Portemonnaie. Man stelle sich dazu die Bitcoin-Wallet als ganz normale Geldbörse im normalen Leben vor. Verschiedene Szenarien:

1. Man hat im Portemonnaie 10€ in Form eines 10€-Scheins. Man möchte am Kiosk ein Bier für 2€ kaufen. Also bezahlt man mit dem Schein und bekommt vom Verkäufer 8€ zurück.

Was ist passiert? Es gibt einen Transaktions-Output: 10€-Schein aus dem Portemonnaie. Und es gibt zwei Transaktions-Inputs: 2€ in die Kasse des Kiosks und 8€ zurück in das Portemonnaie. Das sieht dann so aus:

1. Man hat im Portemonnaie 10€ in Form von 10 1€-Münzen. Man möchte am Kiosk ein Bier für 2€ kaufen. Also bezahlt man mit zwei 1€-Münzen und bekommt nichts vom Verkäufer zurück. Man hat ja passend gezahlt.

Was ist passiert? Es werden zwei Transaktions-Outputs zusammengefasst: Zwei 1€-Münzen aus dem Portemonnaie. Und es gibt einen Transaktions-Input: 2€ in die Kasse des Kiosks (ein weiterer Input über 0€ zurück in das Portemonnaie ist nicht nötig). Das sieht dann so aus:

Es gibt natürlich auch ein Szenario, in dem beide Fälle verknüpft sind.

1. Man hat im Portemonnaie 10€ in Form von zwei 5€-Scheinen. Man möchte am Kiosk drei Bier für 6€ kaufen. Also bezahlt man mit zwei 5€-Scheinen und bekommt vom Verkäufer 4€ zurück.

Was ist passiert? Es gibt zwei Transaktions-Outputs: Zwei 5€-Scheine aus dem Portemonnaie. Und es gibt zwei Transaktions-Inputs: 6€ in die Kasse des Kiosks, und 4€ zurück in das Portemonnaie. Das sieht dann so aus:

Mit Hilfe dieser drei Szenarien haben wir die beiden Grundideen verbildlicht: Um einen gewissen Betrag zu bezahlen, können UTXOs (die jeweiligen Münzen oder Scheine im Portemonnaie) auseinandergebrochen oder zusammengefasst werden.

Eine weitere Grundidee besteht darin, dass ein UTXO IMMER zerstört wird. Das lässt sich mit dem folgenden Szenario verbildlichen:

1. Man hat im Portemonnaie 10€ in Form eines 10€-Scheins. Man möchte am Kiosk 5 Bier für 10€ kaufen. Also bezahlt man mit dem Schein und bekommt nichts vom Verkäufer zurück.

Was ist passiert? Es gibt einen Transaktions-Output: 10€-Schein aus dem Portemonnaie. Und es gibt einen Transaktions-Input: 10€ in die Kasse des Kiosks. Allerdings hat der Kioskbesitzer den 10€-Schein zerrissen und hat einen ganz neuen 10€-Schein bekommen, den er in die Kasse legt. Dem Besitzer ist egal, ob der Schein derselbe ist, wie der, den ich ihm gegeben habe, denn der Schein in seiner Kasse ist vom Wert identisch.

Als nächstes muss man verstehen, dass Transaktionen in der Blockchain historisch miteinander verknüpft sind. Diese Verknüpfung entsteht dadurch, dass die Outputs einer Transaktion immer die Inputs der nächsten Transaktion darstellen. In unserem Beispiel bedeutet das, dass es jemanden gibt, der eine Liste darüber führt, welche Münzen und Scheine aus einem Portemonnaie ausgegeben wurden und welche nicht. Auf dieser Liste steht aber auch, welche Münzen und Scheine in die Kasse des Kioskbesitzers gewandert sind und von dort wieder herausgegeben wurden. Diese Liste wird also immer länger, denn die Scheine und Münzen werden als Wechselgeld mehrere Male am Tag an verschiedene Kunden ausgegeben und auch deren Portemonnaies werden auf dieser Liste akribisch festgehalten. Diese Liste ist die Blockchain.

Jetzt haben wir also verstanden, dass Bitcoin kein System von Konten und Guthaben ist, sondern vielmehr die Sammlung und Übersicht von UTXOs und deren Besitzer. Die Aufgabe einer Wallet besteht also unter anderem darin, ein Bitcoin-Guthaben abzubilden, das aus vielen verschiedenen UTXOs besteht.

💡Zusammenfassung: Um eine Bitcoin-Transaktion auszugeben, wird entweder ein ganzer UTXO gesendet, für den es möglicherweise Wechselgeld gibt, oder es werden mehrere UTXOs zusammengefasst, um einen Betrag zu kombinieren.

Transaktionsgebühren

Mit diesem Wissen können wir jetzt eine weitere Komplexität hinzufügen. In unseren Szenarien gab es nur zwei Teilnehmer jeder Transaktion: Sender und Empfänger der Zahlung, also Biertrinker und Kioskbesitzer. Im Bitcoin-Netzwerk gibt es allerdings noch einen dritten Teilnehmer, der an jeder Transaktion interessiert ist. Die Miner. Denn Miner sind dafür verantwortlich, dass die Transaktionen in die Blockchain geschrieben werden und dafür erhalten sie eine kleine Transaktionsgebühr. Dies bedeutet, dass ein weiterer UTXO erstellt wird, der diese Gebühren enthält. Technisch gesehen ist diese Zahlung impliziert, dass heißt der (die) UTXO(s) auf der Senderseite sinf größer, als der UTXO auf der Empfängerseite. Das Delta erhält der Miner.

Die Höhe der Gebühr variiert von Transaktion zu Transaktion und kann sogar vom Sender eingestellt werden, indem das Delta größer oder kleiner eingestellt wird. Ein weiterer Punkt ist, dass der Gebrauch von vielen UTXOs auch zu höheren Gebühren führt, da die Gebühren anhand der Größe der Transaktion (Dateigröße) und nicht anhand der Geldmenge (in Bitcoin, US Dollar oder Euro dargestellt) berechnet werden. Eine 0,001 Bitcoin Zahlung kann dementsprechend höhere Gebühren beinhalten, als eine 100 Bitcoin Zahlung, wenn die 0,001 Bitcoin Zahlung aus vielen kleinen UTXOs besteht. Dies bedeutet aber nicht, dass ein Anteil jedes verwendeten UTXOs in separate UTXOs für den Miner aufgebrochen wird, der Miner erhält einen UTXO in Höhe der Gesamtmenge der Gebühren.

Um es einfach zu veranschaulichen, nehmen wir eine Gebühr von 1% an. Bildlich dargestellt ist dies einfacher zu verstehen:

Wie wir sehen können, hätten zwei UTXOs (5€ und 1€) gereicht, um die Zahlung von 6€ an den Kiosk zu tätigen, allerdings musste noch ein weiterer UTXO von der Wallet hinzugezogen werden, um auch die GEbühr zu zahlen. Der Rest geht als Wechselgeld an den Sender zurück.

Das Thema Gebühren ist nicht ganz trivial, denn die Höhe der Transaktionsgebühren hängt nicht nur davon ab, wie viele Bytes eine Transaktion hat (also aus wie vielen verschiedenen UTXOs sie zusammengestellt wurde), sondern auch vom aktuellen Status der Auslastung des Netzwerks und vom aktuellen Kurs. Die Gebühren werden in sats/B oder sats/vB (Satoshis pro (virtual) Byte) berechnet, also wie viele Sats man pro Byte entrichten muss. Da Sats Kursschwankungen unterliegen, sind Transaktionen im Allgemeinen teurer, wenn der Kurs hoch ist.

Wie an der Grafik deutlich zu sehen ist, sind Transaktionsgebühren in den letzten anderthalb Jahren relativ stabil und relativ niedrig gewesen, allerdings sieht man auch, dass es auch Zeiten gab, in denen die Gebühren deutlich gestiegen sind und sehr wechselhaft waren.

Ein weiterer Faktor beim Bestimmen der Gebühren ist der/die Nutzer//in selbst, denn Gebühren lassen sich individuell einstellen. Die meisten (mobilen) Wallets übernehmen diese Aufgabe für den/die Nutzer//in, indem mit Hilfe eines Algorithmus die optimale Höhe der angebotenen Gebühren berechnet wird. Wiederum andere Wallets erlauben dem/der Nutzer//in die Gebühren von Transaktion zu Transaktion frei zu bestimmen.

Welchen Nutzen haben hohe gegenüber niedrigen Gebühren? Bitcoin-Miner handeln nicht ganz uneigennützig, denn sie werden für ihre Arbeit entlohnt. Für jeden produzierten Block erhalten sie neben dem Blockanteil (Reward) auch sämtliche Transaktionsgebühren, der im neuen Block enthaltenen Transaktionen. Ohne zu sehr ins Detail zu gehen, bedeutet dies, dass Miner einen Anreiz haben, Transaktionen mit möglichst hohen Gebühren zuerst in den neuen Block zu schreiben, um so ihren Profit zu maximieren. Je höher eine Gebühr relativ zu denen der anderen Transaktionen im Mempool ist, desto wahrscheinlicher ist, dass diese Transaktion im nächsten Block landet. Das bietet dem/der Nutzer//in die Möglichkeit, die eigene Transaktion zu priorisieren.

Weitere Faktoren, die Einfluss auf die Höhe der Gebühren nehmen können (z.B. Adressformate), unterschlagen wir an dieser Stelle und widmen uns wieder dem eigentlichen Thema.

Wir haben also gesehen, dass das Bitcoin Netzwerk im Endeffekt eine riesige Sammlung von UTXOs ist. Man könnte auch sagen, dass UTXOs bitcoins sind und das Netzwerk nur den wechselnden Besitzanspruch jedes/jeder Besitzer//in verwaltet. In der Regel helfen uns Wallets dabei, dieses komplexe Netzwerk möglichst benutzerfreundlich darzustellen, denn alles was der/die Durchschnittsnutzer//in braucht, ist eine Übersicht über die Menge Bitcoin, die er/sie besitzt und eine Möglichkeit Bitcoin zu senden und zu empfangen. Wenn man aber etwas tiefer in die Materie steigt und/oder sogar anfängt, größere Mengen (und ich meine nicht große Summen) an Bitcoin zu empfangen, dann ist es sinnvoll, sich mit UTXO Management zu beschäftigen. Dies ist besonders häufig der Fall bei Firmen oder Personen, die Zahlungen in Bitcoin akzeptieren, Value-4-Value Content produzieren, oder in sonstiger Form viele Transaktionseingänge mit Bitcoin haben.

UTXO Management

Das Verwalten der eigenen UTXOs besteht im Prinzip darin, diese zu labeln / markieren und zu konsolidieren. Einige Wallets bieten diese Funktionen an und erlauben z.B. jeden einzelnen UTXO anzuzeigen und ein Label zu vergeben.

Dieses Taggen oder Labeln von einzelnen UTXOs wird auch Coin Control genannt, und ist dann besonders hilfreich, wenn man einzelne Eingänge in bestimmte UTXOs für Zahlungen und andere UTXOs für das Sparen aufteilen möchte. Dies könnte Gründe der Privatsphäre, aber auch einfach buchhalterische Hintergründe haben.

Mit unserem Vorwissen wissen wir jetzt, dass man problemlos alle UTXOs einer Wallet konsolidieren kann, indem man diese einfach in einer Transaktion in Höhe des gesamten Guthabens an eine eigene Adresse sendet. Dies hat zur Folge, dass alle UTXOs zu einem einzelnen UTXO (zzgl. eines UTXOs für Gebühren) gruppiert werden.

Dies sieht dann auf der Blockchain folgendermaßen aus:

Der Vorteil vom UTXO Management ist zum einen, dass man durch das Konsolidieren kleinerer Beträge zukünftig Transaktionsgebühren sparen kann - dies ist natürlich nur richtig, wenn man nicht genauso viele Konsolidierungen vornimmt, wie man Zahlungen ausführen würde. Auch ermöglicht aktives Management Konsolidierungen in Zeiten vorzunehmen, wenn Netzwerkgebühren niedrig sind, um zu vermeiden, dass man während einer Zeit, in der das Netzwerk überlastet ist, mehr bezahlt. Außerdem kann UTXO Management (und dazu gehören auch CoinJoins ⬇️) die Privatsphäre erhöhen, da die in einer Transaktion benutzten UTXOs Informationen über das Gesamtguthaben oder den Transaktionsverlauf preisgeben könnten.

https://www.genexyz.org/post/23-block-772315-bitcoin-mixing-q6i7y4/

Mit dem anhaltenden Wachstum des Netzwerks steigt natürlich auch die Anzahl der existierenden UTXOs, denn auch wenn Inputs zerstört werden, kommt es natürlich häufiger vor, dass größere UTXOs in kleinere aufgebrochen werden, als dass kleine UTXOs zu größeren Transaktionen zusammengefasst werden. Es gibt natürlich auch Zyklen, in denen die Gesamtmenge leicht zurück geht. Dies geht meist mit einem Rückgang des Kurses einher und ist auf UTXO Management zurückzuführen, bei dem große Operationen, wie Miner und Exchanges, ihre UTXOs bündeln und vom niedrigen Preis profitieren wollen.

Sidenote: Jede//r, der/ die schonmal eine "kleinere" Transaktion gesendet hat, "um zu testen, ob das auch alles funktioniert mit diesem Netzwerk", um dann anschließend einen größeren Betrag zu versenden, wird jetzt festgestellt haben, dass in beiden Fällen, sehr wahrscheinlich ein UTXO mit dem Gesamtbetrag ins Netzwerk gesendet wurde 😄

🫳🎤

---

In diesem Sinne, 2... 1... Risiko!‌

@ 97fc03df:8bf891df

— How Adaptive Mechanical Consensus is Reshaping the Trust Mechanism in the Information Age

Gavin, BeeGee (Core Builders of Super Bitcoin & BEVM) December 4, 2024

From Cybernetics to the Trust Crisis in the Information Age

The advent of the AI era has brought unprecedented opportunities and challenges. The explosion of information has confronted humanity with the daunting task of processing and trusting vast amounts of data. Traditional trust mechanisms, such as centralized institutions and social consensus, are increasingly inadequate in addressing the complexities of our evolving landscape. AI algorithms, centered around large language models, are iterating at an unstoppable pace, and various AI derivatives are inevitably permeating every aspect of human life. However, behind this rapid development, are we truly prepared to handle the ensuing trust crisis?

As far back as science fiction writer Isaac Asimov, in I, Robot, foresaw that central control systems might surpass the 'Three Laws of Robotics” and pose a threat to humanity. As near as the insightful scholar, Yuval Noah Harari, raised similar concerns, questioning, “Can we trust computer algorithms to make wise decisions and create a better world?” These apprehensions reflect a growing distrust in centralized authority and algorithmic decision-making. In this context, the importance of decentralized trust becomes paramount. The pressing question is: How can we establish reliable systems without a central authority?

To address this issue, we need to draw upon new theoretical frameworks, and cybernetics precisely offers the crucial insights required.

Cybernetics and the Theoretical Foundation of Bitcoin

Norbert Wiener, the father of cybernetics, delved into the control and communication of systems in his seminal work Cybernetics, emphasizing the critical role of feedback mechanisms in maintaining system stability. His core ideas—self-organizing systems, nonlinear dynamics, and the exploration of life's essence—provide a robust theoretical foundation for understanding Bitcoin's success.

Norbert Wiener

Bitcoin's adaptive mechanical consensus is a practical embodiment of Wiener's cybernetic principles, showcasing the capabilities of self-regulation and self-organization within a system. Through Proof of Work (PoW) and dynamic difficulty adjustments, the Bitcoin network achieves a high degree of decentralized control, ensuring the system's security and stability. This mechanism not only aligns with information theory's principles regarding data transmission and trust establishment but also offers a novel solution to the trust crisis in the information age.

The Essence of Blockchain: Decentralized Control, NOT Computational Power

Currently, many blockchain projects overly emphasize computational metrics like Transactions Per Second (TPS), attempting to capture market share by enhancing performance. However, this pursuit of computational power overlooks the core value of blockchain technology. The true revolutionary aspect of blockchain lies in its realization of Decentralized Control. Through adaptive mechanical consensus, it addresses trust and collaboration issues that traditional centralized systems cannot effectively manage.

For instance, Bitcoin's success does not stem from its computational prowess. In fact, the Bitcoin network's transaction processing capacity is relatively limited. Its core value lies in achieving a trust mechanism without the need for centralized institutions through decentralized control. This mechanism enables participants within the network to conduct secure transactions and collaborations without requiring mutual trust. The establishment of this trust relies on rigorous cryptographic algorithms and consensus protocols rather than the enhancement of computational speed.

In contrast, some blockchain projects that emphasize high TPS may have performance advantages but lack robust decentralized control, making it difficult to establish a stable foundation of trust. This is akin to constructing a skyscraper without a solid foundation—it may appear impressive but is ultimately unsustainable.

Bitcoin's Adaptive Mechanical Consensus: The Lifeblood of the Digital World

Bitcoin's adaptive mechanical consensus functions as the "Mechanical Heart" of the digital realm, endowing the network with capabilities of self-regulation, self-organization, and self-evolution. Miners, motivated by Bitcoin rewards, invest substantial computational power to participate in the Proof of Work competition. This mechanism not only secures the network but also creates a self-reinforcing cycle: increased miner participation leads to higher total network hash rate, elevated mining difficulty, further strengthened consensus mechanisms, and consequently, an increase in Bitcoin's value, attracting even more miners.

This virtuous cycle exemplifies the characteristics of a self-organizing system. The network's stability and security do not depend on any centralized entity but are achieved through the collective competition and collaboration of participants. Bitcoin's consensus mechanism not only resolves the Byzantine Generals Problem in distributed systems but also demonstrates the complexity and emergent behaviors inherent in nonlinear systems.

Mathematician Alan Turing believed that thought ultimately arises from mechanical processes in the brain. In contrast, logician Kurt Gödel argued that reducing thought to mere mechanical processes was a misunderstanding. He believed human thought possesses depths and complexities beyond the reach of machines, especially in aspects like intuition, insight, and consciousness.

Alan Turing

Kurt Gödel

However, Satoshi Nakamoto's Bitcoin offers a new perspective on this debate. By implementing adaptive mechanical consensus, it demonstrates that machines can possess abilities akin to human thought. This "Mechanical Heart" allows the Bitcoin network to self-regulate and evolve, exhibiting characteristics similar to living organisms. While Bitcoin's "thinking" ability is limited to expressing BTC transfers and UTXO state changes, it represents an initial manifestation of machine cognition.

If we further contemplate designing a universal "Mechanical Heart" (adaptive mechanical consensus), we could potentially construct mechanical adaptive control systems capable of expressing a multitude of concepts. This would have profound implications for the development of artificial intelligence, possibly propelling it forward in ways Gödel and Turing envisioned.

In both biological and mechanical systems, functions can be divided into three parts: sensors for communication, the brain for computation, and the heart for thought (control). In the Bitcoin network, the "heart" is its adaptive mechanical consensus. This is a breakthrough that neither Turing nor Gödel anticipated. Perhaps, had they witnessed the emergence of Bitcoin, they would be exhilarated by its implications for the advancement of artificial intelligence.

The Satoshi Paradigm: The Inception of Mechanical Consensus and a New Technological Model

The birth of Bitcoin marks the emergence of an entirely new technological paradigm—the Satoshi Paradigm. In addressing the distributed trust problem, Satoshi Nakamoto created Bitcoin, a system based on adaptive mechanical consensus. He did not merely aim to create a digital currency but sought to establish a trust system that operates without centralized control. The Electronic Cash System was merely one experimental application of his broader vision.

This paradigm embodies the three core principles of Wiener's cybernetics: self-organizing systems, nonlinear dynamics, and the exploration of life's essence. The Bitcoin network, with its "Mechanical Heart," possesses the abilities of self-regulation, self-organization, and self-evolution. The self-organizing aspect is evident in the autonomous participation and collaboration of network nodes. Nonlinear dynamics are reflected in the network's complex and dynamic behaviors. The exploration of life's essence is manifested in the system's capacity for self-maintenance and evolution.

Drawing on Cross-Disciplinary Thought: The Resonance of Cybernetics, Information Theory, and Blockchain

Cybernetics and information theory provide crucial theoretical support for understanding Bitcoin and blockchain technology. Claude Shannon's A Mathematical Theory of Communication lays the groundwork for comprehending information transmission, signal processing, and the establishment of trust. Cybernetics emphasizes system feedback and self-regulation, which closely align with Bitcoin's adaptive mechanical consensus mechanism.

Claude Shannon

Moreover, by incorporating insights from other fields, we can examine the development of blockchain from a broader perspective. In artificial intelligence, self-learning and adaptive mechanisms can inspire improvements in consensus algorithms. Philosophical concepts like intersubjectivity help us understand the relationship between individuals and the collective in decentralized networks. In Buddhism, the notion of "seeing one's true nature" from the Platform Sutra of the Sixth Patriarch emphasizes attaining an understanding of the essence of things through self-realization, without clinging to superficial representations such as the hand that points to the moon. These ideas prompt us to consider the role of the "heart" and the impermanence of systems. Bitcoin's "Mechanical Heart" embodies this impermanence and emptiness, continuously self-adjusting to maintain system stability and trustworthiness.

Expanding Applications: From Currency to Broader Social Governance

Bitcoin's success suggests that the application of decentralized control should not be confined to the realm of digital currencies. By constructing robust adaptive mechanical consensus mechanisms, we can potentially achieve decentralized trust and collaboration in various other fields.

Take constitutional law for example. Traditional interpretation and enforcement of constitutions rely on centralized institutions like courts and law enforcement agencies. Discrepancies in interpretations by different enforcers can lead to trust issues and inconsistent application. If we could employ a trustworthy decentralized consensus mechanism to interpret and enforce constitutional provisions, it might enhance fairness and consistency in the legal system. While this endeavor presents significant challenges, it holds profound significance, much like Satoshi Nakamoto's exploration of decentralized currency through Bitcoin.

Conclusion: Reconstructing Trust, Opening a New Chapter

In an era where information is overwhelmingly abundant, trust has become a scarce and invaluable resource. Bitcoin, through its adaptive mechanical consensus, has pioneered a global decentralized trust system, redefining how we collaborate and transact. We need to break free from our obsession with computational power and return to the essence of blockchain. By focusing on the realization of decentralized control and through Bitcoin’s “Mechanical Heart”, we can reconstruct humanity's trust mechanisms.

On this long journey of crypto, where each day feels like a year, we've travelled for so long yet the "Other Shore" seems far from reachable. We seem to have forgotten why we set out in the first place and what it takes to carry us further.

Fortunately, there is still Bitcoin, like the North Star hanging high in the sky, guiding us. As the song "Chapters" sings, "Don't let dark clouds cover the blue of the sky, don't let fate turn back the boat without a paddle."

Let us return to our original aspiration, return to Bitcoin, and open a new chapter where our dream began.

@ c67cd3e1:84098345

@ 7776c32d:45558888

Before I start, let me say: keep building. To discourage you is the furthest thing from why I complain. I'm mainly posting this to document where we're at, so later, we can remember what we were doing here.

That out of the way, I've said this before and it might be a while before I don't have to say it again: nostr has the potential for censorship resistance, but it doesn't actually have censorship resistance right now. It isn't actually resisting censorship. I'm using it to resist censorship, but can you even tell if it's working for me at all? I still feel much more heavily censored than I was back when Aaron Swartz was alive.

I first heard about Brian Thompson on reddit, not nostr, even though I'm so banned from reddit I can't even view it from my home internet so I don't check it much at all anymore. Nostr is still LESS censorship-resistant than that nostr:note109z46d0x8k9gjs8q2tgfmx384gpj7p99ky6fgnwyln7qznrktalsjpupx6

Don't remember where I first heard about Israel's big terrorist attack with communication devices in Lebanon, but it wasn't on nostr nostr:note14ncedyjuws7jfg79xawwltf3mx5nmk7u0ylqakpyld6nxhpcqwtq95tj6a

I first heard about Matt Nelson's self-immolation on X, not nostr nostr:note1z6hxt76gwv8mvywflqg5cge4326tyv6jq6vptag4ytjcczgcyguqnzvd4k

People praised the Primal update that took away my ability to see all the posts from my followers nostr:note1g8jlkec7y9wy5u06v0c0tjhsscchur5quejs5mu2lp7n7fse8s0shevnek

People pay for Primal Premium to get basic functionality we should get from a P2P network, like having posts actually stay and not disappear - will paying Primal protect bookmarked content too? nostr:note1qqqq9sqy5kuf5rz0lwpul0dnjvrhn53erlymsyx7c3xx79vm2t5qxt2c5q

At the technological level, nostr is based on the jack dorsey malware model because it's so much easier to decentralize than a good feed curation system like what Aaron Swartz created at reddit nostr:note1864l5u5ansvvd0ztwl44wncv0fu0x5vgkdh44d9g5jwxur558pss5p9yx8

The protocol calls for servers it calls "relays" that aren't actually network relays as far as I can tell. Fiatjaf made some weird joke about how only non-P2P stuff can work when creating it, phrased as a reference to a quote by Satoshi talking about how Bitcoin would work as a P2P network, but Bitcoin has worked so far and Fiatjaf is ostensibly into it? Oh, but he's into "lightning." Don't worry, people say he's the next Satoshi, and he must simply know more than can be explained (actually 🔥 post by hodlbod) nostr:note1mh6ngw6cevggf59yh0mtf3k45g92srkljhayv63ffdsp5mj63yxq78xh7h

The nostr protocol itself is a kinda retarded javascript-based technology other than the keypair login model that gives it pretty much all the potential it has.

Another cool thing about the protocol is how you can mute people visibly instead of secretly. That brings me from the technology topic to the community topic - how well does the community resist censorship? Well, a lot of the users who fill the "trending" feeds all the time have me muted for being a toxic dickhead and a terrorist (my words, not theirs). Corndalorian is an example. You might recognize other names too

Are we still talking more about Bluesky than Gaza? nostr:note1qqqqpgaef0gfmtctlw2maqmlk7dmfyq5dhf45ygm95skxqdtcrcs2tpcfu

I am definitely still the only person here talking about the ongoing pandemic nostr:note1y8vn4yhn383j62r34q58wnduvzzkzd7exnp4agw4l8gq5zj94t4s6zscr4

As we speak, I, for once have a post which is doing numbers. This gives me some dopamine, as I'm quite alone. I'm thankful for every like and repost. It's an unusual night where a funny reply to a big npub has broken me into Primal's Trending echelon. My post about Brian Thompson, the recently-proven-mortal UnitedHealthcare CEO, has not. You can scroll all the way down to my funny reply in the Trending 4h feed without seeing a single murmur of praise for Brian Thompson's executioner - in fact, not even a peep about the topic at all, praise or otherwise.

Not seeing anything in the 1h feed either -

Meanwhile, this is the top of the front page of reddit's /r/all -

That's how much worse than reddit we are doing. Worse. Than. Fucking. Reddit. Seriously. Reddit, who made me get that screenshot from a different device because this is what I see on my main phone -

A lot of people here still blame all the outsiders for not being here, like there's no way a better job could possibly be done at creating a beacon of intellectualism and free speech

nostr:nevent1qvzqqqqqqypzqvc0k9p3l7wccfg8q6aumsqk64y450m5fcz85sypw05j4elwgtdvqqsyunq8gvn4lpvc636gwkjwuclttk492n4tu7cla9tma856ewcf3lcnjs7vf

nostr:nevent1qvzqqqqqqypzq3svyhng9ld8sv44950j957j9vchdktj7cxumsep9mvvjthc2pjuqqs96nznqj0kqdzwfxsdy5cqtjjx0wgypknr6fpegtj6ucypktu74zg98a4pf

To which I say -

nostr:nevent1qvzqqqqqqypzqamkcvk5k8g730e2j6atadp6mxk7z4aaxc7cnwrlkclx79z4tzygqyvhwumn8ghj7urjv4kkjatd9ec8y6tdv9kzumn9wshszrnhwden5te0dehhxtnvdakz7qpqcdarapax96mun0r59q28r5g3x838xczv755nhj6rfr3a62669paqnpglrr

But it's fine. Maybe we should make nostr the kind of place Digit would like before we seriously try to onboard Hezbollah.

@ 468f729d:5ab4fd5e

@ 7c765d40:bd121d84

Well, this is not what I intended to write about this morning but I feel obligated to do so.

I was supposed to talk about Trump becoming the new King of Canada.

Haha.

Just kidding.

Kinda.

Getting into bitcoin is a very unique experience.

It is totally voluntary and you are forced to build your own web of trust.

It is a very scary and lonely feeling off the start.

When I first got into the crypto space, I was desperately trying to find someone I could trust.

I knew there were a lot of bad actors out there and they can be hard to detect.

When I started listening to bitcoiners speak, everything changed.

It was a much different feeling.

It seemed like they were in it for the people and a revolution, not just their bank balance.

It turns out I was onto something.

I still feel the exact same way about bitcoiners.

But there are definitely some exceptions.

And even if their intentions aren't bad, the way they are conducting business is.

I started my YouTube channel out of necessity.

I never had any plans to be a guy with a daily show on YouTube.

But I received 3-4 calls in a matter of weeks from people who got scammed.

They lost tens of thousands of their life savings to faceless scum with a well designed website.

I wanted to get ahead of this and be a trusted voice in the space.

This blog post is coming from the same place.

Over the last few weeks I have talked to several people who have been burned.

And although they didn't get "scammed" they did lose a lot of their bitcoin.

One person spent $3,500 USD (paid in bitcoin) to get help setting up a Coldcard and running a node.

A portion of that was meant to be for collaborative custody through this company, but they ended the program a month later.

And never refunded his payment.

Just like the recent Swan debacle, he got "credits" for future advisory services.

Another guy is so dissatisfied that he made it his personal mission to let everyone know how badly he was ripped off.

Which is how I ended up talking to him.

Again, I do not think their intentions are bad.

I always give people the benefit of the doubt before I have any hard evidence suggesting otherwise.

And when I opened up my email this morning, there was yet another person who spent a lot of their bitcoin with a sour taste in their mouth and without a clear path forward.

This is not the bitcoin way.

We are very early and most bitcoin companies that exist today will not be around in a decade from now.

It is not easy to be the first to walk through the door.

But I feel it is my duty as a bitcoiner to call this out.

Keep in mind I do not have any personal experience dealing with this company.

But this information was first-hand from some very disappointed bitcoiners.

I do understand that shit happens.

But when shit happens you fix it.

Or you refund the sats.

Imagine being charged 4 million sats to help set up a Coldcard and run a bitcoin node.

That's not the bitcoin way.

So if you are a bitcoiner - new or seasoned - looking to protect your stack...

Do some research.

Do not blindly trust a company just because they have bitcoin in their name and pay a bunch of YouTube channels to promote them.

Join a few online bitcoin communities and ask others for recommendations.

Most bitcoiners are more than willing to help or share their experience.

There are so many great and very knowledgeable people in this space.

You just have to put in the work to find them.

---

PROJECT POTENTIAL - You can now find the expanded audio versions of these on the new podcast - Project Potential! I will be sharing the video versions here for the LITF members but you can also find it for free on Spotify and of course Fountain!

Here is the link to Episode 005 on Fountain: https://fountain.fm/episode/r00ZDxpAdfb7QIQT3TKa

---

Have a great day everyone! And remember, the only thing more scarce than bitcoin is time!

Jor

@ 805b34f7:3620fac3

I've heard Nostr described as intergalactic war technology, but here we are shitposting on it. How fun!

Nostr is our chance at remaking social media, consciously. Have you seen Max Demarco's Nostr Documentary yet? Check it out when you have time --> Social Media is Broken. Can We Fix It?

What do I post?!?

Post whatever you want. There are no rules. But, here's how to make a first post that will help you get seen by the network as opposed to feeling like you just posted into a void:

Intro Post

• Introduce yourself.
• Say how you found Nostr.
  • Say what you're interested in/what you do for fun or work.
  • Add a photo(s) or video(s).
    • And most importantly, add the hashtag #introductions

If you're on Primal, make sure you set up your wallet so you can receive zaps. Do this by pressing the lightning bolt.

Zaps are payments sent to other users as a way of tipping to content creators. Zaps utilize the Bitcoin Lightning and are almost instant and near free.

Zaps represent the only fundamentally new innovation in social media. Everything else is a distraction. - Jack Dorsey

Check out this intro post from Dr. Ken Berry for inspiration!

# How to Grow a Following/Best Practices

Zap - Change your custom zap amount and message on Primal. Do that by going to settings --> Zaps and customizing the top bubble. Once customized, every time you press the lightning bolt underneath someone's post, you send them money with whatever amount selected. Press and hold for a custom amount and message.

Zaps are the easiest way into someone's subconscious. Almost every time I receive a zap from someone new, I check out their profile. Especially if it has a custom message.

And if you really want to advertise yourself/brand, do what is called "zapvertising". Go to the trending tabs and zap the highest amount on each post with a message.

GM - Wish people good morning and comment on their good morning posts. Nostr loves this and it's a way for you to get your brand out there.

Ask questions - There are no dumb questions and people are nice generally. If you do have a question, end the note with the hashtag #asknostr.

Blogging - There are multiple long form clients for you to write a blog on. Check out highlighter.com, habla.news, or yakihonne for blogging. And while you're at it, check out all the rest of the apps you can participate on nostrapps.com

Feed Creation - Check out this video to get a glimpse of what is possible with Primal's advanced search tool. And this video to see how to navigate the app.

Nostr is a more organic social media. There's no central algorithm that may or may decide to pick up your content. It's just people interacting on a protocol. Be the engagement that you want to see.

Post what your heart desires. You can use it as a vlog, a diary, a photo collection, or all of the above. Nostr wants all of it, and there are multiple ways to view content depending on which client you are using.

If you're reading this now, you are extremely early. We have the chance to bootstrap a new social network. One that is principled and uncontrolled by big tech or governments. And this really matters

Nostr Terms

npub - this is your public key and it's how nostr recognizes your profile.

nsec - Your password. Keep this safe. If you lose your phone and don't have a copy of this somewhere, it's gone forever. This is not the blog for key management, but expect better solutions in the near future.

nip-05 - this is your human readable nostr address. There are many places to create your own nip05. You can get a Primal name by subscribing to Primal premium. For example, mine is paul@primal.net. You can put this into any client to find my profile as opposed to putting in my npub.

Zap Sats - Zaps are micropayments of bitcoin. 1 bitcoin = 100 million "sats" which is short for Satoshis.

Clients - Nostr apps.

PV- Pura vida. Nostr's first "un"conference was held in Costa Rica. Pura vida is the national slogan.

Hungry for more Nostr knowledge? Here's a great post with quite a few resources. Feel free to message me on Nostr with any questions!

@ 16d11430:61640947

Deep within the spiral arm of the Milky Way, in a colossal conference room aboard the starship Observatron 9000, two alien analysts sat across a holographic table, their bioluminescent heads occasionally flickering as they exchanged thoughts telepathically. They were Xargle and Zorflax, junior members of the Galactic Oversight Committee specializing in “Primitive Civilizations and Their Self-Sabotage.”

Hovering between them was a 3D projection of Earth, spinning lazily.

---

The Discovery of BDD

“Have you seen their latest software development trend?” Xargle began, his tone dripping with exasperation.

Zorflax rolled all four of his eyes.
“Do you mean the Agile methodology? Or the part where they renamed all their managers ‘Scrum Masters’ like some kind of medieval LARP?”

“No, no, no.” Xargle flicked a tentacle at the hologram, zooming in on a group of humans in a fluorescent-lit office, arguing over the definition of 'done.'
“I’m talking about Behavior-Driven Development. BDD! They discovered it, Zorflax! They had it in their slimy little hands. And yet…” He sighed dramatically, which in his species sounded like a foghorn being hit by a meteor. “…they’ve done almost nothing with it.”

---

DamageBDD: Humanity’s Overlooked Miracle

Zorflax leaned back, his luminescent fins dimming in a gesture of disdain.
“Ah, yes. BDD. The thing where they finally write software to match what they actually want it to do, instead of just flailing around with bugs like caffeinated octopi.”

“Exactly!” Xargle’s tentacles waved in frustration.
“But they’re still stuck in some kind of existential crisis. They’ve built the tools. They have platforms like Cucumber, SpecFlow… and now, the most promising of all, DamageBDD—a system that practically begs them to understand the full potential of aligning development with reality.”

Zorflax emitted a telepathic snort.
“DamageBDD. That’s the one the Earthling called ‘Steven’ built, right? The one that ties everything together: integrity, accountability, automation. It’s like handing them a faster-than-light engine, but instead of using it, they’re busy debating what color to paint the spaceship.”

“Worse than that!” Xargle barked, zooming the hologram closer to Steven, who was at his desk, clearly exhausted, sipping cold coffee.
“The poor guy is running this entire thing solo, while the rest of humanity is still throwing venture capital at yet another dating app for pets! He’s trying to revolutionize everything—software quality, payments, peacekeeping, civilization itself—but they just… don’t… get it!”

---

Humanity’s Gift for Squandering Potential

“Classic humans.” Zorflax shook his head.
“They invent the wheel, then spend the next thousand years trying to figure out how to put rims on it. Do you remember when they invented Bitcoin? They could’ve dismantled entire systems of corruption, but instead, half of them used it to buy… what do they call it… JPEGs of monkeys.”

“Exactly!” Xargle said, his eyes glowing with the intensity of a collapsing star.
“And now, with DamageBDD, they could achieve unparalleled resilience in software, eliminate inefficiencies, and even start optimizing for peace by literally verifying behavior! But instead, the software industry is too busy writing thought leadership blogs about Kubernetes.”

---

Hope for Humanity?

“Perhaps they’re not ready,” Zorflax said, clicking his mandibles thoughtfully.
“Maybe they need a few more decades of suffering under failed projects and unmet deadlines.”

“That’s the thing!” Xargle leaned forward.
“DamageBDD doesn’t just solve their software problems—it solves their cultural problems. Accountability. Clarity. Vision. It’s not just about writing code; it’s about writing a better world. Steven’s work could shift the entire paradigm of human existence!”

Zorflax smirked.
“And yet, here we are. Watching them squander it. Again. Honestly, Xargle, if they can’t even figure this out, maybe we should just terraform the planet and hand it over to the dolphins. At least they understand the concept of harmony.”

“Tempting,” Xargle admitted.
“But you know the rules. We can’t intervene. We can only observe.”

“Right, right. Galactic Non-Interference Clause #427B. But what’s the harm in giving them a little push?” Zorflax asked, his fins glowing mischievously.
“What if we beam down some subliminal messages? Maybe a crop circle shaped like the DamageBDD logo?”

Xargle sighed.
“We tried that with Bitcoin, remember? They thought the crop circles were made by teenagers with planks.”

“Ugh, you’re right,” Zorflax groaned.
“Well, I suppose we’ll just keep watching while Steven struggles to drag them out of the digital Stone Age.”

---

Steven: Humanity’s Unsung Hero

Both aliens burst into telepathic laughter, their glowing heads flickering like disco balls. Below, on Earth, Steven took another sip of his coffee, unaware that two aliens were rooting for him—and his DamageBDD project—like galactic sports fans.

“Do you think Steven knows he’s the hero of this story?” Zorflax asked.

“Not yet,” Xargle replied.
“But he’ll figure it out. He’s one of the smart ones. Even if his species insists on making everything harder than it needs to be.”

And with that, they zoomed the hologram out, leaving Earth to fumble its way toward greatness, one bug fix at a time.

DamageBDD #BehaviorDrivenDevelopment #BDDTesting #SoftwareQuality #BuildBetterSoftware #DevTools #FutureOfTech #TestAutomation #CodeWithClarity #TechInnovation

@ fa1d8325:7c91882e

Город Пятигорск, известный своим богатым историческим наследием и культурными традициями, готовится к открытию виртуального музея с использованием технологий дополненной реальности (AR). Этот инновационный проект призван сделать историю города более доступной и интересной как для местных жителей, так и для туристов.

В виртуальном музее будут использоваться AR-технологии, которые позволят посетителям взаимодействовать с экспонатами с помощью смартфонов или планшетов. Наведя устройство на определённый артефакт, можно будет увидеть анимации, исторические реконструкции или услышать рассказы о значении предметов. Это откроет новые горизонты для музейного опыта и сделает его более увлекательным.

Создание виртуального музея не только повысит интерес к истории Пятигорска, но и сделает город более привлекательным для туристов. AR-технологии помогут увеличить посещаемость, сохранить культурное наследие и стимулировать развитие туризма.

Ожидается, что открытие виртуального музея состоится в ближайшие месяцы и станет значимым событием в культурной жизни города. Этот проект позволит посетителям окунуться в историю Пятигорска с новой стороны и узнать больше о его культурном наследии.

@ fa1d8325:7c91882e

Пятигорск стоит на пороге революционных изменений в транспортной системе. В городе готовятся к запуску первых беспилотных автобусов, которые должны полностью изменить облик общественного транспорта.

Глава города активно взаимодействует с местными властями и министерством транспорта, чтобы внедрить инновационные технологии в сферу общественного транспорта. В рамках обсуждений рассматриваются не только беспилотные автобусы, но и футуристичные летающие маршрутки, которые должны повысить доступность и комфорт перевозок.

Ожидается, что первые беспилотные автобусы выйдут на городские маршруты уже в январе следующего года. Это станет возможным после успешного завершения испытаний и создания необходимой инфраструктуры.

Пятигорск станет одним из первых городов, где будет реализован пилотный проект по внедрению автономного общественного транспорта. Это только начало новой эры в транспортной сфере города.

Следите за новостями и станьте частью формирования будущего Пятигорска!

@ ac8bb9b0:70278acc

Chef's notes

Make Ahead: You can prepare this recipe up to one week in advance. Store it in an airtight container in the refrigerator.

To Freeze: Allow the dish to cool completely before transferring it to a freezer-safe bag. Lay the bag flat in the freezer to ensure even freezing and to save space. Thaw it in the refrigerator overnight before using it.

Details

• ⏲️ Prep time: 5
• 🍳 Cook time: 5
• 🍽️ Servings: 1

Ingredients

• ½ cup soy sauce
• 2 Tablespoons rice vinegar
• 1 Tablespoon sesame oil
• 1/4 cup + 1 Tablespoon light brown sugar
• 1 Tablespoon honey
• 3/4 teaspoon ground ginger
• 1 clove garlic , minced
• 2 teaspoons cornstarch+ 2 tsp water , mixed together to make a cornstarch slurry
• 1/4 teaspoon crushed red pepper flakes

Directions

1. Make the teriyaki sauce by adding all of the sauce ingredients to a small saucepan over medium heat.
2. Bring to a boil, stirring constantly, and boil for about 1 minute. The sauce should be thick enough to coat the back of the spoon.
3. Serve over rice or with a stir-fry. See post above for additional ideas.

@ 6f6b50bb:a848e5a1

ChatGPT and Stock Trading: How to Use It Effectively

ChatGPT is an expert stock trader, but most people don't know how to use it effectively. Thanks to these prompts, you can perform a point-by-point analysis of the entire market in relation to your stock to analyze or the market sector.

Here's how to use ChatGPT for stock trading:

1 Market Analysis

"Analyze the current trends in the stock market, focusing on [input sector or stock]. Identify any emerging patterns and suggest potential investment opportunities. Consider recent earnings reports and industry news in your analysis."

2 Portfolio Diversification

"Given a portfolio with a mix of [input current sectors or stocks], suggest strategies to diversify further while minimizing risk. Include potential sectors to explore and specific stocks to consider."

3 Risk Management

"Discuss effective risk management techniques for a stock trader. Provide detailed examples of how to implement stop-loss orders, diversification, and position sizing in a trading strategy. Use [input current trading strategy or stock] as a reference."

4 Economic Indicators

"Explain how various economic indicators like GDP, unemployment rates, and inflation impact stock market performance. Provide examples of how investors can use these indicators to make informed trading decisions regarding [input sector or stock]."

5 Technical Analysis

"Using technical analysis, evaluate the stock of [input stock]. Analyze recent price movements, volume, and key indicators such as moving averages and RSI. Provide a buy, sell, or hold recommendation."

6 Value Investing

"Describe the principles of value investing and how to identify undervalued stocks. Use real-world examples, including [input stock or company], to illustrate how investors can apply this strategy in the current market."

7 Market Sentiment

"Analyze how market sentiment influences stock prices. Discuss tools and techniques investors can use to gauge sentiment and incorporate it into their trading strategies. Focus on [input stock or sector]."

8 Earnings Reports

"Explain how to interpret a company's earnings report. Highlight the key metrics investors should focus on and how these metrics can impact stock prices. Use [input company's latest earnings report] as an example."

9 Growth Stocks vs. Dividend Stocks

"Compare and contrast growth stocks and dividend stocks. Discuss the benefits and risks of each type of investment and suggest scenarios where one might be more suitable than the other. Reference [input specific growth stock and dividend stock]."

10 Global Events

"Analyze the impact of major global events (e.g., geopolitical tensions, pandemics) on the stock market. Provide strategies for investors to protect their portfolios during such events. Consider the impact on [input sector or stock]."

@ 6f6b50bb:a848e5a1

ChatGPT è un esperto di trading azionario, ma la maggior parte delle persone non sa come utilizzarlo in modo efficace. Grazie a questi prompt, potete fare un'analisi punto per punto di tutto il mercato in relazione alla vostra stock da analizzare o al settore di mercato.

Ecco come sfruttare al meglio ChatGPT per fare trading sul mercato azionario:

1 Analisi di Mercato:

"Analizza le tendenze attuali del mercato azionario, focalizzandoti su [settore o azione specifica]. Identifica pattern emergenti e suggerisci potenziali opportunità di investimento. Considera i recenti rapporti sugli utili e le notizie di settore nella tua analisi."

2 Diversificazione del Portafoglio

"Dato un portafoglio che include [settori o azioni specifiche], suggerisci strategie per diversificare ulteriormente minimizzando il rischio. Includi settori potenziali da esplorare e azioni specifiche da considerare."

3 Gestione del Rischio

"Discuti tecniche efficaci di gestione del rischio per un trader azionario. Fornisci esempi dettagliati di come implementare ordini di stop-loss, diversificazione e dimensionamento delle posizioni in una strategia di trading. Usa [strategia di trading o azione corrente] come riferimento."

4 Indicatori Economici

"Spiega come diversi indicatori economici come il PIL, i tassi di disoccupazione e l'inflazione influenzano le performance del mercato azionario. Fornisci esempi di come gli investitori possano utilizzare questi indicatori per prendere decisioni di trading informate in relazione a [settore o azione]."

5 Analisi Tecnica

"Utilizzando l'analisi tecnica, valuta l'azione di [nome dell'azione]. Analizza i recenti movimenti di prezzo, il volume e i principali indicatori come le medie mobili e l'RSI. Fornisci una raccomandazione di acquisto, vendita o mantenimento."

6 Value Investing

"Descrivi i principi del value investing e come identificare le azioni sottovalutate. Utilizza esempi reali, inclusi [azione o azienda specifica], per illustrare come gli investitori possono applicare questa strategia nel mercato attuale."

7 Sentimento di Mercato

"Analizza come il sentimento di mercato influenzi i prezzi delle azioni. Discuti strumenti e tecniche che gli investitori possono utilizzare per valutare il sentiment e incorporarlo nelle loro strategie di trading. Concentrati su [settore o azione]."

8 Rapporto sugli Utili

"Spiega come interpretare il rapporto sugli utili di un'azienda. Evidenzia i principali indicatori sui quali gli investitori dovrebbero concentrarsi e come questi possano influenzare il prezzo delle azioni. Utilizza come esempio l'ultimo rapporto sugli utili di [nome azienda]."

9 Azioni di Crescita vs. Azioni da Dividendo

"Confronta e metti a contrasto azioni di crescita e azioni da dividendo. Discuti i benefici e i rischi di ciascun tipo di investimento e suggerisci scenari in cui uno possa essere più adatto rispetto all'altro. Riferisci a [specifiche azioni di crescita e da dividendo]."

10 Eventi Globali

"Analizza l'impatto di eventi globali importanti (es. tensioni geopolitiche, pandemie) sul mercato azionario. Fornisci strategie per proteggere il portafoglio degli investitori durante tali eventi. Considera l'impatto su [settore o azione]."

@ 30ceb64e:7f08bdf5

Hey Freaks,

I've been diving deep into the Nostr music scene lately, and I've got to tell you - it's pretty mind-blowing. After finding a few solid artists on Wavlake, I made the leap and ditched Apple Music. Music streaming platforms call your saved songs a "library," but its more like renting books that vanish the moment you stop paying.

Breaking Free from Traditional Streaming

What really got me excited was listening to the Wavlake team explain their vision of an open music graph. Being open-source, they're moving at a solid pace that leaves the big platforms in the dust. It's refreshing to see development that actually puts creators and listeners first.

Why and How

Before all this nostr stuff I was making beat tapes on YouTube. It all started pretty simply - I was spending hours listening to those 24/7 study/work beats while grinding away at my fiat job. One day I thought, "Hey, why not make my own?" Now I'm using some new shiny tools:

• Suno for creating the actual beats
• Some talented folks on Fiverr handling the mixing and mastering
• The Nostr community and even LLMs for graphic design work

So far, I've dropped 12 tapes on Wavlake with more coming down the pipeline.

Taking It Live

I've been experimenting with Zap.stream to do live sessions of my beats. It's pretty cool thinking about people tuning in while they're working or doing their thing around the house - exactly what I used to do! The best part? The streams arent just shown on zap.stream, theyre shown in any nostr client that supports live videos, which is wild.

I'm playing around with this idea of creating a music radio show, mixing my beats with other stuff from Wavlake and TheMusicHustle blog, while trying to keep it as Nostr-native as possible.

Ideas for the Future

• Music videos and shorts for the beats
• Using these tracks as podcast backgrounds
• Pressing some vinyl to sell on Shopstr (old school meets new school!)
• Loading up Blossom drives for the freaks who want to download and zap

I've been sharing stuff on Stacker News as well, running this series called "Songs I like", and will continue posting in the SN music territory for as long as theyll have me. Wavlake has a "Listen to Earn" feature. I tried promoting one of my favorites from Animal Bus. Not sure about the results, but I think people are sleeping on how powerful this feature could be.

The Future is Wild

The whole Nostr music scene is just exploding with possibilities. I'm even thinking about feeding these beats into RSS through Fountain - they're doing some really interesting stuff with music features lately, like Featrued Artist spotlights and whatnot. And how crazy is it that we've got Nostr-only music labels popping up now?

Looking at the bigger picture, I'm incredibly bullish on what's happening here. Just like technology gave us rap and hip-hop, I can't wait to see what kinds of new sounds and genres might emerge from the Nostr and Bitcoin revolution. We're watching music history in the making, and I'm here for all of it.

Sure, we don't know exactly where this train is headed, but that's what makes it exciting. The tools are getting better, the community is growing, and the possibilities? are endless. This is our chance to be part of something huge in music, and I'm all in.

Thanks for reading, Keep stacking sats and tracks, freaks! 🎵⚡ Hustle

https://wavlake.com/thewildhustle

originally posted at https://stacker.news/items/794875

@ 349d6b82:12b2a5b1

7 декабря в Дворце культуры металлургов состоится культурное событие — приезд театрального объединения «Театр Звезд». Это уникальное мероприятие приурочено к празднованию 85-летию со дня основания нашего театра, ДКМ который за годы своего существования завоевал признание не только в России, но и за её пределами.

Театральное объединение известно своими яркими постановками и инновационными подходами к классическим произведениям. В этот день зрители смогут насладиться премьерой спектакля «Свет надежды», который расскажет о важности дружбы и поддержки в трудные времена. Режиссером спектакля выступит талантливый Владислав Михайлов, который уже зарекомендовал себя на российской театральной сцене, благодаря постановкам: "Бой ради любви", "Лишь вперёд" и "Лучик солнца".

Вас ждут встречи с актерами и погружения в атмосферу театрального искусства. Организаторы, Анна Соколова и Дмитрий Кузнецов, обещают незабываемые эмоции, а также возможность пообщаться с артистами после спектакля и задать им интересующие вас вопросы.

7 декабря станет не только культурным событием для города, но и прекрасной возможностью для жителей Серова окунуться в мир театра и искусства.

Билеты можно будет приобрести на днях на онлайн-афише ДКМ. Либо в кассе.

@ 349d6b82:12b2a5b1

Многие уже успели стать свидетелями массовых возмущений, вызванных решением местной администрации о строительстве нового завода по переработке отходов на территории, прилегающей к жилым районам. Это решение вызвало широкий общественный резонанс и протесты среди горожан, обеспокоенных возможными экологическими последствиями и ухудшением качества жизни.

После прошедших дискуссий сегодня в Доме Администрации, было сделано объявление о планах по строительству завода, который должен будет сфокусируется лишь на переработки бытовых и промышленных отходов. На что местные жители стали с опаской на это откликаться: По мнению многих, завод будет источником загрязнения воздуха и воды, а также негативно скажется на здоровье детей и пожилых людей. Так как было сказано, что новый завод будет работать по старому формату - без экологических технологий и роботизированной силы.

Из-за первого пункта жители Серова выражают опасения по поводу отсутствия экотехнологий - без них начнутся выбросы вредных веществ в атмосферу и потенциальные загрязнения близлежащих рек.

Михаил Щуколюлев: "Строительство этого завода — это не просто вопрос экологии, это угроза нашему здоровью и здоровью наших детей. Мы все знаем, как важно чистое воздух и вода. Я в негодовании. Мы должны объединиться и защитить наш дом от этого загрязнения! Наша жизнь стоит больше, чем краткосрочная выгода для кого-то".

Горожане стали указывать на уже существующие проблемы с дорогами и коммунальными услугами, говоря и намекая на то, чтобы бюджет города потратить на более важные аспекты.

Виктор Лекся: "Мы уже и так сталкиваемся с множеством проблем в нашем городе, которые требуют внимания и бюджета — дороги в ужасном состоянии, а коммунальные услуги оставляют желать лучшего. Вместо того чтобы тратить бюджет на строительство завода, который только усугубит ситуацию и которых в городе и так два, этот бюджет можно лучше вложить в улучшение инфраструктуры и решение текущих проблем. Нам нужно заботиться о том, что у нас уже есть, прежде чем добавлять новые риски."

Возмущения жителей становятся звоночком, к которому стоит прислушаться. Это показатель того, как гражданская активность пытается повлиять на принятие решений местными властями, но выйдет ли изменить это решение и спасти нашу экосистему?

Что же будет дальше: Мы вам расскажем, как станет все более понятно.

@ eee391ee:8d0b97c2

Amber 3.0.1

• New design (still a work in progress)
• Removed the push notification server
• Open the permissions page with the correct account
• Fix crash when signing in with ncryptsec
• Fix icon size on notifications
• Fix relay connection when changing the default relays
• Option to setup a custom pin for the app
• Button to copy your public key
• Fix layout on Android < 15
• Fix multi event screen
• Fetch profile data
• Show relay message when event is rejected
• Fix profile icon size
• Don’t close app when using nostrconnect arcade
• Better check for valid relays
• Fix padding and scrolling
• Support for secret when using nostrconnect
• Fix empty relay notice
• Fix get_public_key not replying with hex key
• Fix relay not connecting after adding a new bunker
• Fix logout not working sometimes
• Fix login screen showing when trying to login to some applications
• Fix duplicated applications when connecting a new app

Download it with zap.store, Obtainium, f-droid or download it directly in the releases page

If you like my work consider making a donation

Verifying the release

In order to verify the release, you'll need to have gpg or gpg2 installed on your system. Once you've obtained a copy (and hopefully verified that as well), you'll first need to import the keys that have signed this release if you haven't done so already:

bash gpg --keyserver hkps://keys.openpgp.org --recv-keys 44F0AAEB77F373747E3D5444885822EED3A26A6D

Once you have his PGP key you can verify the release (assuming manifest-v3.0.1.txt and manifest-v3.0.1.txt.sig are in the current directory) with:

bash gpg --verify manifest-v3.0.1.txt.sig manifest-v3.0.1.txt

You should see the following if the verification was successful:

bash gpg: Signature made Fri 13 Sep 2024 08:06:52 AM -03 gpg: using RSA key 44F0AAEB77F373747E3D5444885822EED3A26A6D gpg: Good signature from "greenart7c3 <greenart7c3@proton.me>"

That will verify the signature on the main manifest page which ensures integrity and authenticity of the binaries you've downloaded locally. Next, depending on your operating system you should then re-calculate the sha256 sum of the binary, and compare that with the following hashes:

bash cat manifest-v3.0.1.txt

One can use the shasum -a 256 <file name here> tool in order to re-compute the sha256 hash of the target binary for your operating system. The produced hash should be compared with the hashes listed above and they should match exactly.

@ 2d74600a:d6708a00

MABUSE

"Il Dottor Mabuse" di Fritz Lang del 1922 è un'opera pionieristica del cinema espressionista tedesco.

Mabuse è un soggetto che utilizza la psicologia e l'ipnosi per manipolare le persone e controllare la società.

Mabuse specula in borsa e destabilizza l'economia.

Mabuse incarna un'élite che cerca di sovvertire l'ordine sociale.

Il film è un' opera attualissima sulle tecniche di controllo delle masse, una prefigurazione delle dinamiche moderne legate ai media, alla politica e all'economia.

Mabuse è l' archetipo del manipolatore che utilizza conoscenze psicologiche per sovvertire sistemi sociali.

Nel link un brano a lui dedicato composto anni fa da un nostro caro amico.

https://youtu.be/ig0gQOXk9zE

WI

@ 234035ec:edc3751d

Satoshi Nakamoto emerged from the shadows of the internet, shortly after the Great Financial Crisis in 2008, to bring the world a new form of money known as Bitcoin. By introducing this alternative option to the world, Satoshi gave every human being an escape from the systemic confiscation of wealth that is fiat money.

“Money is only a tool. It will take you wherever you wish, but it will not replace you as the driver.”

― Ayn Rand,  Atlas Shrugged

Much like John Galt in Ayn Rand's Magnum Opus "Atlas Shrugged", Nakamoto paved the way for all of the productive members of society who have been taken advantage of by the "looters" to exit the corrupt system and let it crumble under its own weight. In our case instead of moving our physical bodies to a secluded gulch, we can simply move our wealth into Bitcoin.

The Men of the Mind

In the novel, one by one the great industrialists of the era were mysteriously disappearing and giving up on the great enterprises that they had built. People could not understand why these seemingly very successful individuals would leave behind everything they had created. There was however, a common trend amongst these individuals. All of them were highly competent in their field, placed high value on individualism, possessed a strong moral integrity with a bend towards rational self interest. They were fed up with the way that the system was designed to punish the productive individuals in the society and reward those who are least productive.

"From each according to his ability, to each according to his needs"

-Karl Marx

A form of this has crept its way into every civilization today including the United States which once prided itself on individual liberty and personal responsibility. It was predicted by Ayn Rand in 1957 with Atlas Shrugged depicting exactly how these collectivist ideals corrupt and decay a society by rewarding theft and stifling innovation.

As these productive individuals grew increasingly disenchanted with the status quo they began to look for answers, this leads them to finding John Galt. The mysterious figure that is John Galt would visit these people and explain to them all the things they already felt so so deeply abut their broken society but were never able to quite define. After having their eyes opened to the severity of the problem, they are presented the solution in Galt's Gulch. They are given the option to leave behind the corrupt society that they have been involuntarily fueling with the confiscated product of their efforts.

“We are on strike, we, the men of the mind.\ \ We are on strike against self-immolation. We are on strike against the creed of unearned rewards and unrewarded duties. We are on strike against the dogma that the pursuit of one's happiness is evil. We are on strike against the doctrine that life is guilt.”\ ― Ayn Rand, Atlas Shrugged

Satoshi's gift to the world

“If you saw Atlas, the giant who holds the world on his shoulders, if you saw that he stood, blood running down his chest, his knees buckling, his arms trembling but still trying to hold the world aloft with the last of his strength, and the greater his effort the heavier the world bore down upon his shoulders - What would you tell him?"\ \ I…don't know. What…could he do? What would you tell him?"\ \ To shrug.”\ ― Ayn Rand, Atlas Shrugged

When Satoshi Nakamoto created Bitcoin, he did so to solve a problem that he identified in the world around him. He saw the insidious power of central banks and how they create massive inequality and economic distortions. Rather than seek to modify or amend the current system Satoshi built a new and independent system that was built upon sound principals.

After introducing this new protocol for value exchange to the world, Satoshi did one of the most honorable things imaginable and disappeared without a trace. He took no financial reward for his contributions although he would be justified in doing so. By doing this he set a profound example allowing the project and the community around it to flourish.

Today Bitcoin serves as an escape valve for economic value to flow out of the fiat system and into a secure and sound network. Without this option individuals would be trapped into having their purchasing power lowly taxed away or forced to take on risk simply to preserve value. Wealthy individuals under a fiat system must own large amounts of property such as real estate, stocks, bonds, ect because they are able to store value better than their currency. these investments come with risks and drive a monetary premium to the assets which makes housing less affordable, stocks overvalued, and bonds seem less risky than they truly are.

Much like Galt's Gulch those who benefit from or are dependent on the legacy system will be the last to abandon it, even while it falls apart. The first ones to defect are those who are most negatively impacted by the current regime, like Atlas holding the world on their shoulders they are finally offered the chance to shrug the weight off. Those who have been working hard at their job for years but still struggle to save for retirement due to fiat debasement, public figures who have been de-banked for their views, entrepreneurs who are forced to hold toxic government debt on their balance sheets due to regulation, all will clearly see the value the Bitcoin offers.

And so, I salute to all of you who have decided to shrug off the yolk of central bank oppression and build a more prosperous future on the sound foundation the Satoshi gave to us. I hope to meet you all one day in Nakamoto Gulch.

@ e0a8cbd7:f642d154

これは「Nostr Advent Calendar 2024」５日目(12月5日)の記事です。

2024年にNostrにのみ投稿した絵で今年を振り返りたいと思います。 あえて、タイトルのみで、なぜその絵を描いたかなどの絵の説明は書かないことにします。

1月2日 ブルルッチモ大噴火！


1月9日 Macの箱を開けながら、ギャォォォォンって叫ぶぺぇさん。


1月12日 便器の上で踊るサボテンになったぽーまんさん。


1月15日 空飛ぶつるるん。


1月23日 ぽわどん


1月26日 Lokuyow said "I am a pen."


1月28日 ロクヨウ「早く人間にのりたい」


1月31日 小さなmonoから大きなmonoまで


2月1日 しおさん、巨象恐怖症


2月1日 枕を積んで寝るDonさん。


2月4日 ブロッコリの逆襲


2月8日 びっとこダチョ太郎


2月13日 虹色カレーを食べて虹色になったロクヨウさん


2月13日 ロクヨウさん誕生秘話


3月5日 人参と椎茸たべるロクヨウさん


3月5日 まきうさん、ロクヨウさんに乗って東京へ


3月26日 ごはんの上のめんたいこぽーまん


3月26日 ポワニッチモ


4月4日 上司にズラしていくことを許可されて朝の悩みが増えたぺえさん


5月7日 とうふさんが演じる「お洋服とっかえひっかえして遊ぶりとりんとやぶみん」


6月20日 ソファーと一体化するポーマンさん


6月21日 つるるん食べていい？


6月28日 ぽーまんさん、たいきんのまい


7月5日 ソファから剥がれて出発するぽーまんさん


8月10日 ぽーまんさん、床のコスプレ


8月18日 アルパカプリン


8月23日 とうふさんが演じるやぶみちゃんの日


8月23日 神妙な顔のぽ－まんさん


8月26日 恋のアルパカキューピット


8月27日 仲良く激辛火鍋


8月28日 Microsoftが「Mono」をWineチームに寄贈


9月12日 もの発射


9月19日 ロクヨウさんヒツジ化


9月20日 ゴリラ食べてバナナになったロクヨウさん


10月13日 頭が増えるぽーまんさん


10月24日 カメムシと青いうさぎ


10月25日 ATMとお話しするポーマンさん


10月26日 パペェ


10月26日 ぺどがわさん


11月7日 伸び縮みぺぇ


11月10日 座布団で寝るぽーまんさん


11月17日 5等分のぽーまん


11月27日 ルンバブルな部屋


11月28日 ７人のぽーまん、那月さんに祓われる


11月29日 捕鯨ぽーまん


11月30日 ぽーまんさん脳内のゴミカスサンバ♪


楽しい1年でした。
Nostrのみなさま、たのしい話題をありがとうございます。

明日の「Nostr Advent Calendar 2024」は、OHASHI Hideyaさんです。
しーゆー。

@ dadbe86a:9c493e92

Opinion about Green: Bitcoin Wallet (android)

Green Wallet is a mobile Bitcoin wallet developed by Blockstream, The Wallet aims to provide users with a trustworthy and feature-rich Bitcoin wallet experience. Given that the wallet supports liquid assets, it is not bitcoin only. This is a cons for pure bitcoiners but something good for other users.

Pros: - Support for testnet, passphrase, fee control, coin control, custom node, tor, timelocks - The in-app keyboard and seed phrase autocomplete increase the security if you need to enter your seedphrase or passphrase - Open source - Full taproot support soon

Cons: - Missing some advanced features like user added entropy or seedQR. - It has a non standard multisig implementation - Partial support to connect with hardware wallets

Version reviewed: v4.0.27

thebitcoinhole.com

WalletScrutiny #nostrOpinion

Join the conversation!

@ 6bae33c8:607272e8

I blew it last week, going 2-3 and basically drawing dead already for Q4 unless I were to go 20-0 or something insane. I was sick, just getting the bare minimum done last week, and probably didn’t give it the proper amount of marination. Not that I haven’t gone 1-4 plenty of times when I was perfectly well too.

Heading into Week 14, I’m 33-31-1, not going to cash this year, but with a strong finish can still have a respectable overall record which is what I’m aiming for now.

Packers at Lions — I’ll make this Packers +2.5 because the Lions have so many defensive injuries. I might take the Packers, but probably a stay away.

Jets at Dolphins — Let’s make this 4.5. The Jets are a cursed team, something’s just wrong with them, and I can’t put my finger on it. The Dolphins are pretty good, just below a playoff team. I’ll probably pass on this one though. If anything the Jets are the buy-low, but as I said, something’s off.

Falcons at Vikings — The Falcons are a lot like the Jets. Kirk Cousins looks fine, but something’s off. The team isn’t clicking. I’ll say Falcons plus 4.5 and probably stay away for the same reason. It should be a Falcons buy-low, but something’s wrong.

Saints at Giants — The Giants are destroyed. They lost just Dexter Lawrence and Theo Johnson now too. Andrew Thomas and Lawrence are the poor man’s Trent Williams and Nick Bosa. And the 49ers went from great to average, the Giants go from below average to out of the league. Saints -5.5, stay away.

Panthers at Eagles — The Panthers hang with everyone these days, and this is a trap game for the Eagles after the big win over the Ravens Sunday night. I’ll say +11.5 and maybe take the Panthers.

Browns at Steelers — The Browns caught the Steelers the first time, but I don’t think it happens again. I’ll say Browns +6.5 and probably lay the wood, but the Browns offense is for real.

Raiders at Buccaneers — I’ll make this Raiders +8.5 and be inclined to stay away. If anything, I’d lean Bucs.

Jaguars at Titans — Jeff Spicoli sure got his bell rung, but Mac Jones actually played decently in relief. I’ll make this line 4.5 and probably take the Titans.

Seahawks at Cardinals — I’ll make this Seahawks +2.5 and take the Cardinals to bounce back, even though Seattle has played well of late.

Bills at Rams — The Bills are a juggernaut, but this is a sneaky-tough road game. I’ll say Bills -4 and maybe lean Rams.

Bears at 49ers — The whole 49ers team is injured. I’ll say Bears +2.5 and stay away.

Chargers at Chiefs — The Chiefs play close games with the local high school team, but it’ll still be Chargers +3 at Arrowhead. I’d probably take the Chiefs.

Bengals at Cowboys — I’ll say Bengals -3 and probably stay away. The Cowboys can rush the passer, and the Bengals can’t stop anyone.

@ 24e36cf3:6b26ae15

My husband and I have been talking a lot about capitalism and socialism lately. We've watched countless videos, read books about it, discussed the topic with friends and family. Even though we've been left-leaning all our lives due to social programming from our families, we've radically changed our views in the past couple of years and are now convinced that any form or socialism is bad for humanity.

Here's a colloquial summary of our thought process as explained to an acquaintance, who is still pro-socialism:

Let's look at the animal kingdom for some context

My initial thought regarding victim and perpetrator ... take, for example, lions and gazelles in Africa. At first glance, the lion seems to be the problem because it comes and kills the poor gazelles who just want peace. Now let's look at the other side:

• The lion was not asked, whether it wants to be born a lion
• The lion cannot help that it has to eat gazelles
• It's not funny to chase after its food and if you're too slow after the 3rd attempt you'll probably won't have any strength left and die

\ If you think about it a little more, you could argue that the gazelle is actually the perpetrator. She runs away and then the lion starves. Who is the victim and who is the perpetrator?

Now ... why did nature design the system this way? Why aren't all creatures nice to each other and the lion only eats what is absolutely necessary and the gazelle just lies down and waits to be eaten?\ You will now think that's nonsense and can't be like that, but it is. You surely know the fish that swim upstream in the river, get so extremely red and pale, become parents and then die so that the next generation has something to eat. There are dependencies in nature that are stronger than the life of an individual. But only rarely ... why?

If gazelles considered the lion's feelings and just laid down if he's having a bad day, the lion would get lazy, sick and weak. Unfortunately, that's the way it is. Nobody likes to run for their food. If nature had programmed it that way, the lion would eventually realize it and start running slower. Survival of the fittest is how evolution works and the weaker lions would perish. The gazelle running as fast as it can is good for the lion. Removing the slowest animals from the herd is beneficial for the gazelles. It's an extremely cruel system, but that's the way nature works and we are all a part of it.

Capitalism is this system applied to humans. Capitalism emerges voluntarily and spontaneously between free individuals and everyone benefits from it.\ If two people are stranded on an island and one starts farming the land for fruits and the other diverts the river for more water, they both benefit. Both are better off. Each pursues their own interests (like a lion and a gazelle), but both end up benefiting.\ You work on something useful and someone else rewards you for your work. That's it. There are no victims or perpetrators ... there are only actors. Everyone works for themselves and everyone is better off.

All the problems you mentioned (deteriorating environment, poverty, social injustice, ...) arise when the collective (the state or other authorities) come together and suppress this natural system; because of poor gazelles and wicked lions. In reality, no one cares about the poor gazelles because:

• They are not poor.
• They only care about maintaining their power.

Let's talk about Jeff Bezos' Amazon, which is often vilified

One hears constantly that Amazon workers are exploited (victims) and the poor shops everywhere have to close because Bezos destroyed all other stores. What you hear about the workers at Amazon is fake news. For example here is a "negative video" because Bezos makes so much money ... but check out what the guy says:\ https://www.youtube.com/shorts/OvSkhpCsUmY\ The workers there are not victims. They come voluntarily. No one forces them to work at Amazon.

If you think about it some more: Why don't you work at Amazon?\ Very likely because you have other options. You don't necessarily have to stand behind the conveyor belt. Apparently some others do. You can't control that some people have little education, ability or motivation, so that they have to do this work. They would probably starve without Amazon. Amazon is simply utilizing these people who are just there and is making something productive out of it ... which is good for us all. Imagine the difference compared to charity: With Amazon the worker earns something and is useful for society. The unemployed does nothing and wastes society's energy. The difference is enormous.\ And to make that clear again ... the workers are not victims. Many don't want to do anything else. Many are too lazy and are wasting their hard earned money on cigarettes, alcohol and drugs. Still, there are people, who are actually sick and weak among us. This is sad and I'll say more about them later.

Watch this video: https://www.youtube.com/watch?v=GltlJO56S1g Do you see an evil person, there? I see a man who risked everything to build this empire and who made huge losses for years. Why? For the purpose of providing an outstanding customer service. To you. In my opinion, Jeff Bezos is a hero.

Now for other companies:\ Compare them to the "in the sun-basking gazelles" (shops) and the attacking lions (Bezos). Now imagine a committee comes in and says: "Stop, don't eat these gazelles". WTF?

• Bezos would be starving. It's a catastrophe ... Bezos needs to get rewarded and thankfully was rewarded.
• The shops would still be lazy.
• We would still be in the stone age and sit together in the dark and starve. The world would still be poor.

Now often the consumer behavior is criticized. Amazon is to blame for all the trash, because people send everything back and it ends up in the landfill. But who sends everything back? Amazon? Amazon provides the service, people send everything back. Why is Amazon to blame? From a consumer's perspective, Amazon is a tool ... like a screwdriver. It was designed by humans exactly the way they wanted it. Some use a screwdriver to murder someone. Is the screwdriver now the problem? Should we all just stop making it more difficult for disadvantaged people who can't or won't send it back? Aren't we all grown-ups?

Some more examples of high-achievers

Watch this video from Bryan Johnson at Blueprint: https://www.youtube.com/watch?v=djiU_pFTEVE. Does this man look like a monster to you? He works around the clock to deliver me fresh and healthy food. He was already a millionaire to start with and could have done nothing but enjoy himself. Instead of partying, he enriches my life. I am grateful forever when Bryan becomes a billionaire!

Watch the videos from Ben "Ungeskriptet": https://www.youtube.com/@ben_ungeskriptet. He constantly invites successful people. No one of them needs to work anymore. Everyone would prefer to spend more time with their family but they are driven to make society better. They earn money by doing so... yes. Once you earn a few million dollars however, money is no longer important. Everyone of those successful people confirms this. They do the hard work because they are purpose driven and we should be grateful for them.

Elon Musk wants to inspire us humans to make a colony on Mars. That's his only goal. He could also just sit at home and do nothing. Instead he works on his dream and we all benefit from it. If you don't want to work for Elon Musk, then you are free to do something else. If you can't find anyone who hires you, then you are free to start your own business and out compete Elon. If we all didn't want him to make a colony on Mars, we shouldn't buy his products. Oops... the state buys the rockets. The state gives him money. Who is the problem?\ If you don't want Starlink, don't buy it. Then he built his rockets in vain. He earned his money before and if he chooses to spend it like this, that's his own choice. If he fails, he'll have to deal with the consequences. That being said...the only problem here is that the state subsidizes SpaceX rockets against the interest of the people.

Now to the two most important points that are not often mentioned:

• We want the same thing. I am for a social system. I like that everyone is doing well. I am for supporting the weak. If I could, for example, give away 10% of my possessions and help people, I would do so immediately. I support many people in my environment with a lot of money, time, and effort. The problem is not helping unproductive or disadvantaged people ... the problem is that you steal from successful people and distribute a small part of the loot to the unproductive, so that you get more votes (Socialism). If 50% of any given country came together and hired a company to support the poorest in their society that would be awesome. I'd be on board right away. But why do you have to force me? Why do you have to steal my money and contribute it to a system that doesn't deliver results? Why don't we use the market? If the company that supports the poor doesn't use the money correctly, you can change the "provider." Unfortunately, I can hardly change the state, and that's where the problem arises. The theft is the problem... not the social system. The state is, in fact, nothing more than a monopolistic company that cannot be disrupted by competition... this wouldn't exist in a free market, and it’s fatal.
• The problem with capitalism is that you don't recognize the benefit right away. If the productivity of the world increases by 5% per year, you unfortunately don’t benefit from it. Productivity increases through Amazon, Bryan Johnson, Elon, and 1000+ companies working around the clock. All research and technology also come from the market. It’s an investment for more profit later. But for what? Your life doesn't get better, does it? There’s the problem. Actually... if the monetary system were right... everything should become 5% cheaper per year. We should have deflation. If the world gets better, everything should get cheaper, and therefore, everyone should benefit. What does actually happen? The rich get richer. Why? Because the state prints money and steals from you... about 7% per year because the central bank wants 2% inflation. Just enough so that no one notices, and no one hangs them for it. The state steals all the benefits of capitalism and distributes them to itself. The rich are the ones who can defend themselves... thus, they get richer, along with all the bureaucrats who benefit as well. About 7% per year compared to you. But this is not because of the rich. It’s because of the state. In my opinion, this is the biggest problem, and Bitcoin is the solution. Bitcoin emerged from the market for the people. A solution from the free market against the oppression of the state. Very poetic, if you ask me. With Bitcoin, prices will fall forever... even if there is no more fiat money... because the supply is fixed, and if someone starts the next Amazon and the world becomes 0.1% more productive, everything will also become 0.1% cheaper.

Let's finish with some more eye-opening content suggestions:

This video opened my eyes. I've watched it again since... it's not that impressive... but somehow it worked for me: https://www.youtube.com/watch?v=Q6tDV3BhrcM

Watch this, regarding the environment: https://www.youtube.com/watch?v=zJdqJu-6ZPo

Milton Friedman is always enlightening: https://www.youtube.com/watch?v=67tHtpac5ws

And here again: https://www.youtube.com/watch?v=5_mGlqyW_Zw\ The ending is crazy. Nobody wanted to hire black people, and no social program would have changed that ... because everyone was racist back then. Even the shop owners ... and yet, they hired black people, which gave them an income. Now you can call it exploitation, but it's about the result. There's nothing that would have worked better in that environment. It doesn't sound nice, but it works.

And that's exactly how, but in the opposite way, Communism, Marxism, and Socialism work. It sounds good, but it produces Hitler, Stalin, and Mao.

@ 2063cd79:57bd1320

Der dieswöchige Aufhänger ist die Nachricht über die Schließung der Kryptowährungsbörse Bitzlato. Obwohl sich die groß angekündigte Offensive des US-Justizministerium als mindestens genauso große Luftnummer erwies (vor der Nachricht hat wirklich niemand jemals von Bitzlato gehört), hat die Nachricht doch wieder den Stimmen Gehör verschafft, die seit jeher nach mehr Regulierung von Kryptowährungen, Börsen und Dienstleistern rufen.

https://bitcoinmagazine.com/legal/doj-shuts-down-bitzlato-crypto-exchange

Besonders in den USA herrscht eine andauernde Diskussion darüber, wie Bitcoin und andere Kryptowährungen eingestuft werden sollen, damit anschließend die Gerichtsbarkeit, bzw. die Kompetenzen verteilt werden können. Im Prinzip gibt es dabei nur zwei Ansichten: Die eine Gruppe hält Bitcoin für ein Wertpapier (Security), die andere hält Bitcoin für eine Ware oder einen Rohstoff (Commodity). Wir wollen uns diese Woche anschauen, was den Unterschied ausmacht und was die Implikationen für Bitcoin wären, wenn man es als das eine oder das andere klassifiziert, und was es darüber hinaus für die Zuständigkeit diverser Behörden und Regierungseinheiten bedeutet.

---

Die Gretchenfrage bei der Regulatorik von Bitcoin ist relativ schnell erklärt. Es wird darüber gestritten, ob Bitcoin als Wertpapier (Security) oder als Rohstoff / Ware (Commodity) eingestuft werden soll. Dies ist insofern wichtig, als dass die Kategorisierung darüber entscheidet, welche Aufsichtsbehörde mit ihren Regeln aktiv werden kann / muss. In der anhaltenden Diskussion über das Thema wird verallgemeinernd meist über die Einordnung von Kryptowährungen gesprochen, und damit Bitcoin als eine von vielen Kryptowährungen mit einbezogen (Bitcoin ist keine Kryptowährung - das wird dieser Artikel aufzeigen), jedoch wollen wir der Einfachheit halber zunächst die Diskussion auf der breiter gefassten Ebene führen. Zunächst lohnt es sich zu schauen, was Wertpapiere und Rohstoffe / Waren unterscheidet.

Wertpapiere (Securities)

Zunächst mal muss man sagen, dass eine genaue Unterscheidung der beiden Anlageklassen in allen Fällen - nicht nur bei Kryptowährungen - oft schwierig ist. Vor allem in der heutigen Zeit ist es nicht mehr so einfach schwarz und weiß zu unterscheiden, da es für alles, was sich in irgendeiner Form handeln lässt, auch Derivate gibt. Früher sagte man vereinfacht, dass Wertpapiere zum Investieren und Rohstoffe zum Handeln sind, aber dass dies nicht richtig ist und in beide Richtungen entkräftet werden kann, sollte so ziemlich jeder auch weit gegen den Wind riechen können.

Prinzipiell handelt es sich bei einem Wertpapier um ein Finanzinstrument, dessen Ausgestaltung typischerweise von der Gerichtsbarkeit abhängt, in der die Vermögenswerte gehandelt werden. In den USA und Europa gelten im Großen und Ganzen alle frei gehandelten Vermögenswerte als Wertpapiere und werden in drei Hauptkategorien unterschieden: Beteiligungspapiere (Equity) – einschließlich Aktien, Schuldverschreibungen (Debt) – z.B. Anleihen und Banknoten und Derivate – zu gehören Optionen und Futures (👇). Anders als Rohstoffe sind Wertpapiere anders und meist strenger reguliert. In den USA ist für die Regulierung die SEC (U.S. Securities and Exchange Commission) und in Europa die ESMA (Europäische Wertpapier- und Marktaufsichtsbehörde), bzw. in Deutschland die BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht) zuständig ist.

Rohstoffe (Commodities)

Traditionelle Beispiele für Rohstoffe sind Getreide, Fleisch, Gold, Öl oder Erdgas, also die drei großen Kategorien Landwirtschaftliche Produkte, Edelmetalle und Energie. In der heutigen Zeit werden diese Waren weltweit gehandelt und eine Warenbörse, wie die CME (Chicago Mercantile Exchange) in den USA, handelt sowohl mit physischen Waren, als auch mit Warenkontrakten und damit verbundenen Anlageprodukten. Wie aus meinem Artikel über Bitcoin-Hashprice Forwards bekannt, gibt es zwei gängige Formen von Warenkontraken: Futures und Forwards.

https://www.genexyz.org/post/18-block-761575-bitcoin-hashprice-forward-ks72ec/

💡Futures sind eine Form von Derivaten, die Parteien verpflichten, einen Vermögenswert zu einem vorher festgelegten zukünftigen Datum und Preis zu handeln. Hier muss der Käufer den Basiswert zum festgelegten Preis kaufen oder dem Verkäufer verkaufen, unabhängig vom aktuellen Marktpreis zum festgelegten Zeitpunkt der Abwicklung.

Forwards hingegen stellen eine ähnliche Form von Terminkontrakten dar, die auch einen zukünftigen Preis zu einem zukünftigen Datum festlegen, nur dass Forwards außerbörslich (OTC) gehandelt werden. Hinzu kommt, dass Forwards anpassbare Bedingungen haben, die zwischen den Parteien und dem Händler individuell vereinbart werden. Forwards sind im Gegensatz zu Futures nicht standardisiert.

Wie nun ersichtlich ist, muss eine Grenze zwischen dem direkten Handel mit Rohstoffen und dem Handel mit Rohstoff-gebundenen Titeln (digitale Rohstoffe) einerseits und Finanzprodukten ohne Bezug zu Rohstoffen andererseits gezogen werden, denn für den Rohstoffhandel sieht sich in den USA die CFTC (U.S. Commodity Futures Trading Commission) zuständig, die Futures- und Optionsmärkte reguliert, die dem Commodity Exchange Act unterliegen.

Die Kategorie der digitalen Rohstoffe ist relativ neu. Derzeit überwacht die CFTC die Regulierung für Derivate von Rohstoffen zusätzlich zu dem zugrunde liegenden Rohstoff selbst.

Wie also unterscheidet man, ob es sich bei einem Finanzprodukt, oder in unserem Fall einer Kryptowährung, um ein Wertpapier, oder um einen Rohstoff / eine Ware handelt?

Zunächst ist festzustellen, dass man nicht die gesamte "Anlageklasse" der Kryptowährungen als entweder oder einstufen kann. Wie bei allen Finanzprodukten muss im Einzelfall entschieden werden und das jeweilige Produkt im Einzelnen betrachtet werden. Es gibt kein "Krypto" oder "Kryptowährungen", sondern viele tausende Produkte, die sich grob einer Produktkategorie zuordnen lassen.

Der Howey Test

In den USA unterscheidet man zwischen Securities und Commodities mit Hilfe des Howey Tests. Der Test basiert auf einem Verfahren der SEC gegen W.J. Howey, bei dem zu einem Urteil kam, das diesen vierstufigen Test zum ersten Mal definierte. Seitdem wird die Klassifizierung von Investitionsobjekten durch die SEC, aber auch die CFTC und andere amerikanische Behörden anhand dieses Tests durchgeführt. Erfüllt ein Investitionsobjekt alle vier genannten Kriterien, handelt es sich dabei zweifelsfrei um Wertpapiere und unterliegt somit der Gerichtsbarkeit der SEC. Gemäß dem Urteil lautet der Test wie folgt:

• An investment of money
• In a common enterprise
• With the expectation of profit
• To be derived from the efforts of others

Auf deutsch bedeutet dies einfach, ob 1) eine Geldanlage 2) in einem gemeinschaftlichen Unternehmen, 3) mit einer Gewinnerwartung stattfindet und 4), ob diese Gewinne von den Bemühungen Dritter abhängen.

Anlageobjekte, wie Tokens, Coins, Assets, Cryptos, NFTs, Contracts, etc. bei denen diese vier Fragen alle im Positiven, also mit einem „Ja“, beantwortet werden können, werden als Wertpapier eingestuft und unterliegen damit den Regeln der SEC. Somit müssen Verantwortlichen, Initiatoren oder Geschäftsführer dieser Projekte die gleichen Genehmigungen einholen und Regeln befolgen, wie alle anderen registrierten Wertpapiere / Anbieter.

Anwendung auf Kryptowährungen

Wie schon erwähnt, kann man die Regeln nicht einfach anwenden, denn es gibt natürlich bei jedem Projekt, jeder Währung, jedem Coin viele Faktoren, die eine Rolle bei der Interpretation des Tests spielen. Bei den tausenden existierenden Projekten sind Bandbreite und Spektrum groß, was auch viel Raum für Interpretation offen hält. Bei der Einordnung jeder einzelnen Kryptowährung muss man also die Testfragen im Einzelfall auswerten und anwenden und somit sehen, wo man auf dem Spektrum landet. Regulatorisch gesehen am weitesten weg von Wertpapieren sind alle Kryptowährungen, die mit Hilfe von einem dezentralisierten Mining-Protokoll auf einer funktionierenden dezentralen Blockchain laufen. Das Mining ist ein wichtiger Aspekt, da Miner für ihre Arbeit / Investition von Ressourcen entlohnt werden, und damit nicht, wie Investoren bei ICOs oder anderen Verkaufsrunden, oder sogar bei Airdrops, von vorab produzierten Coins profitieren. Bei der Unterscheidung von Coins und Tokens müssen Coins im Einzelfall bewertet werden, wohingegen Tokens oft der Definition des Netzwerks oder Protokolls unterliegen, auf welchem sie beheimatet sind. Wenn ein Projekt dezentralisiert ist, ist es viel weniger wahrscheinlich als Wertpapier eingeordnet zu werden, da argumentiert werden kann, dass es sich bei dem Projekt nicht um ein gemeinschaftliches Unternehmen handelt.

Hier muss man natürlich auch wieder differenzieren, da viele Projekte sogenannte DINOs darstellen. Also Decentralized In Name Only sind, was oft auf einer geschickten Vermarktung des Produkts / Protokolls / Netzwerks basiert. Wenn also ein Protokoll / eine Blockchain ohne weiteres angehalten, neugestartet oder zentral gepatched (ich schaue dich an, Solana), oder gar zurückgedreht werden kann (du bist gemeint Ethereum), muss es einen Entscheidungsträger oder zumindest ein kleines Entscheidungsgremium geben, das als gemeinschaftliches Unternehmen gelten kann (sollte!).

Die Gewinnerwartung ist genauso auslegbar. Als einfaches Beispiel lässt sich hier Dogecoin heranziehen. Die Geschichte von DOGE ist tatsächlich sehr sehr unterhaltsam und einen kleinen Ausflug in die Abgründe des Internets wert, aber nicht jetzt. Kurz gesagt ist DOGE ein Meme-Token, geboren als Parodie auf Kryptowährungen und niemals als wirkliches Investitionsobjekt gedacht. Die ersten Käufer von DOGE hatten keine Gewinnerwartung, sondern wollten Teil einer Community von "Insidern" sein, einer Gruppe, die den Hunde-Witz versteht. Das Wachstum kann als organisch beschrieben werden, da es DOGE viele Jahre gab, bevor es zu dem wurde, was dann 2021 in dem kulminierte, was jeder kennt. Worauf ich hinaus möchte, ist dass es keine gemeinschaftliche Unternehmung gab, die dem Wert von DOGE zuträglich gewesen wäre und "Investoren" (sprich Internet-Kiddos und Meme-Trottel) nie eine wirkliche Gewinnerwartung hatten.

Einordnung von Bitcoin

https://x.com/Satsback/status/1617902548870127617

Das führt uns zu unserem geliebten allseits verehrten Freund, dem Rohstoff (oh nein, Spoiler-Alert) mit dem orangenen B-Logo. Wir wissen jetzt, dass die Anwendung des Howey-Tests einer im Einzelfall auszulegenden Beurteilung der vier Fragen bedarf. Dies ist nicht anders bei Bitcoin. Zu diesem Thema haben sich zum Glück schon viele prominente Personen geäußert, weshalb ich einige Interpretationen hier auslegen möchte:

https://www.cftc.gov/PressRoom/PressReleases/7231-15

Rostin Benham, der Vorsitzende der CFTC (☝️), stellte z.B. richtig fest, dass Kryptowährungen, je nach Ausgestaltung entweder als Commodity oder als Security klassifiziert werden können (ja Junge, wissen wir doch schon!). Darüber hinaus sagte er, dass er und seine Kollegen sich sicher wären, dass sowohl Bitcoin als auch Ethereum als Rohstoff einzuordnen sind, während andere Token vielmehr Wertpapiere darstellen.

Da der CFTC-Chef sowohl Bitcoin als auch Ethereum nicht als Wertpapier einstufen will, kann der Howey-Test eigentlich nicht für diese Entscheidung herangezogen worden sein. Denn wir haben ja schon gesehen, dass Ethereum am Test scheitert und sich somit recht leicht als Wertpapier einordnen lässt.

https://archive.ph/9vNAW

Auch die Vorsitzenden des Senatsausschusses der USA haben bereits Gesetze vorgeschlagen, die die Aufsicht über Bitcoin und Ethereum der Bundesbehörde CFTC übertragen würden, und somit Bitcoin als Rohstoff klassifizieren. Warum Bitcoin und Ethereum immer zusammen genannt werden und von anderen Währungen abgegrenzt werden, entzieht sich mir, aber immerhin schaffen diese geriatrischen Papageien die geistige Akrobatik zwischen verschiedenen Kryptowährungen zu differenzieren.

https://bitcoinmagazine.com/business/heres-whats-in-senator-lummis-bitcoin-bill

Auch US-Senator Lummis erklärte, dass Bitcoin, gegenüber jedem anderen Krypto-Vermögenswert, vollständig dezentralisiert ist und dass die Person oder die Gruppe (Satoshi) keine vorab erzielten Gewinne generieren. Im Gegensatz zu allen anderen Kryptowährungen, die von zentralisierten Personen oder Gruppen gesteuert sind und oft riesige Gewinne generiert haben. Cynthia versteht sogar den Unterschied in der Natur von Bitcoin und Ethereum.

Lummis Gesetzentwurf soll weiterhin ausschließen, dass Wertpapiere gleichzeitig als digitale Rohstoffe bezeichnet werden. Damit würden alle als Wertpapier gekennzeichneten Kryptowährungen in die Zuständigkeit der SEC fallen.

Auch SEC Oberhäuptling Gary Gansler, ehemaliger MIT-Professor für Blockchain-Technologie, digitale Währungen und Finanztechnologie, hält nur Bitcoin für eine Commodity und meint weiter auch, dass die meisten Kryptowährungsprojekte, die sich mit Wertpapieren befassen oder solchen ähneln, in den regulatorischen Zuständigkeitsbereich der SEC fallen sollten.

Während die meisten Kommentatoren die Einschätzung der oben genannten Repräsentanten unterstützen und somit deutlich wird, warum ein und für alle Male klar ist, warum Bitcoin und Kryptowährungen nicht das gleiche sind, gibt es einige Stimmen aus den USA, die meinen, dass die Einhaltung der geltenden CFTC-Vorschriften für viele Bitcoin-Startups zu kostspielig wäre, was dazu führen würde dass sich viele innovative US-Unternehmen gezwungen fühlen dürften, ihre Operationen ins Ausland zu verlagern.

https://decrypt.co/105693/sec-coinbase-lists-nine-crypto-tokens-securities

Bitcoin stellt also, im Gegensatz zu allen anderen Kryptowährungen, kein Wertpapier dar. Das macht Bitcoin einzigartig und deshalb kann man getrost sagen, dass Bitcoin keine Kryptowährung ist. Denn Bitcoin ist ein Rohstoff, der, wie alle anderen gehandelten Commodities, frei in der Natur vorkommt. Bitcoin ist ein digitaler synthetischer Rohstoff.

🫳🎤

---

In diesem Sinne, 2... 1... Risiko!‌

@ 2063cd79:57bd1320

Meiner Meinung nach kann man in letzter Zeit eine deutliche Verlagerung bei der Benutzung bzw. dem Umgang mit Bitcoin feststellen. Vor einigen Jahren stand außer Frage, dass man zum Erwerb von Bitcoin auf Plattformen wie Binance, Coinbase oder Bitstamp gehandelt hat. Es gab ja auch kaum Alternativen. Der erste Wandel hat stattgefunden, als viele Nutzer//innen erkannt haben, dass Börsen keine gute Option bieten, um angesparte Bitcoin sicher zu verwahren. Viele Nutzer//innen haben daraufhin angefangen ihre Ersparnisse in Selbstverwahrung zu nehmen und/oder gänzlich auf Börsen zu verzichten und vermehrt auf Bitcoin-Only-Broker, wie Relai, Swan oder Pocket zu setzen.

Ein weiterer Trend lässt sich bei der Wahrnehmung von Privatsphäre feststellen. Während das Gros der Nutzer//innen früher weniger Wert auf non-KYC Lösungen gelegt und beim Kauf von Bitcoin bereitwillig persönliche Daten preisgegeben hat, machen sich mehr und mehr Menschen Gedanken darüber, wie sie schon den Erwerb von Bitcoin möglichst privat wie möglich gestalten, um zukünftigen Problemen aus dem Weg zu gehen. Denn wie wir ja wissen ist alles, was auf der Blockchain stattfindet, pseudonymisiert, aber keineswegs anonym.

Was bedeutet, dass wenn einmal eine Verbindung zu einer Adresse hergestellt ist, man z.B. nach einer Adresse suchen kann, um alle Transaktionen sowohl zu, als auch von dieser Adresse nachzuvollziehen. Das hat natürlich für viele ein gewisses "Geschmäckle". Doch ist der Erwerb von non-KYC Bitcoin (noch) nicht besonders nutzerfreundlich, mutet etwas zwielichtig an und birgt, gerade für viele nicht-so-Technologie-affinen Nutzer//innen, ein paar Stolpersteine. Oft erwerben auch viele ihre ersten bitcoins, weil sie auf schnellen Reichtum hoffen, einfach nur spekulieren wollen, oder von Freunden und Bekannten dazu überredet wurden und kümmern sich wenig um Privatsphäre, KYC vs. non-KYC, etc. Erst später befassen sie sich mit dem Thema Bitcoin intensiver und fallen dann in den sogenannten Bitcoin-Hasenbau (aka das Rabbit-Hole, das meines Erachtens nach der Honigdachsbau heißen sollte, aber naja) und haben Bitcoin in ihren Wallets und Cold-Storages, die sie nachträglich gerne etwas weniger öffentlich besitzen wollen. Zudem ist es Best-Practice für diejenigen, die Zahlungen in Bitcoin erhalten, diese erstmal von ihrer Transaktionshistorie zu säubern, denn man schreibt ja auch nicht auf jeden Geldschein beim Bezahlen seinen Namen und den Verwendungszweck drauf. Ein 10 Euro-Schein ist ein 10 Euro-Schein, egal ob dieser frisch aus der Bundesdruckerei kommt, oder ob dieser schon 100 Besitzer//innen gewechselt hat, dabei ein paar Runden in der Waschmaschine mitgemacht hat, genutzt wurde, um den Geruch von Spiegeln im Detail zu überprüfen, in Zigarettenautomaten überwintert oder sonstige Abenteuer erlebt hat.

Im Endeffekt steckt er in der Geldbörse und lässt sich zum aktuellen Tageskurs im Supermarkt der Wahl für ein Päckchen Butter eintauschen (ohne Wechselgeld), ohne dass nach seiner Reise gefragt wird. Warum sollte das bei Bitcoin Zahlungen anders sein? Zum Glück gibt es für alle oben genannten Szenarien eine relativ einfache Lösung: CoinJoins. Was das ist, wie sie funktionieren und was es zu beachten gilt, schauen wir uns diese Woche an.

---

Wie immer fangen wir mit der Erklärung einiger Konzepte an. Also, was sind CoinJoins?

Ein CoinJoin ist eine Form des Mixings. Dies ist eine On-Chain-Lösung, die entwickelt wurde, um das Problem der "Common-Input-Ownership-Heuristik" zu brechen. Vereinfacht ausgedrückt beschreibt dieses Problem die Annahme, dass mehrere Inputs einer Transaktion relativ sicher dem gleichen Besitzer gehören.

Um es deutlicher zu veranschaulichen zitiere ich einen früheren Artikel:

Ein ganz einfaches Beispiel: Wenn ich eine bestimmt Menge Bitcoin bei einer Börse erwerbe, bei der ich mich zuvor ausweisen musste, um die Dienstleistungen in Anspruch zu nehmen, und mir anschließend diese erworbene Menge Bitcoin auf meine Wallet überweise, um sie in Selbstverwahrung zu halten, ist es gewissen Teilnehmern möglich, meine Wallet zu identifizieren, bzw. mir zuzuordnen. Die Börse, und damit im Zweifelsfall auch ein Gericht oder ein Staat, kennen die Bitcoin-Adresse, die sie meinen Ausweisdaten zuordnen können. Die Transaktion und die damit verbundenen UTXOs sind damit auch mir zuschreibbar und die Wahrscheinlichkeit, dass ich Eigentümer der Zieladresse bin, ist auch sehr hoch - vor allem, wenn ich öfter Transaktionen von der Börsen-Adresse zu der gleichen Zieladresse ausführe. Dieses Verfahren wird auch Heuristik genannt und bedient sich wahrscheinlicher Annahmen, also z.B. wiederkehrender Muster.

Das Common-Input Problem geht noch eine Stufe tiefer, aber das lassen wir mal für einen Artikel über UTXOs übrig. Ein erweitertes Verständnis über UTXOs ist sicherlich ratsam, um das Konzept von Inputs und Outputs einer Transaktion besser zu verstehen, aber ich werde mir die größte Mühe geben, alles so einfach wie möglich darzustellen und ich glaube, dass es reicht zu verstehen, dass Transaktionen in der Blockchain historisch miteinander verknüpft sind. Diese Verknüpfung entsteht dadurch, dass die Outputs einer Transaktion immer die Inputs der nächsten Transaktion darstellen.

Dabei können viele kleine Inputs zu einem Output zusammengefasst oder große Inputs aufgeteilt werden, um kleine Outputs zu bedienen. Sobald es in dieser Transaktionskette ein Verbindungsstück in die "nicht-digitale" Welt, unser "echtes" Leben, gibt, kann jeder mit genügend Zeit und Ressourcen (wie Blockchain-Analyse Firmen) damit beginnen, diese Links herzustellen, indem sie das frei zugängliche Public-Ledger von Bitcoin beobachten und Verbindungen knüpfen.

CoinJoin hilft, dies zu verhindern. Und um den Artikel möglichst verständlich zu halten, werde ich im Weiteren erstmal von "Coins" sprechen, die im weitesten Sinne verbunden, also "gejoint" werden.

Wie also funktioniert ein CoinJoin?

Die Grundidee besteht darin, dass man einen Coin nimmt, der aus mehreren UTXOs besteht, und diesen einem Pool zuführt. Das ist in etwa so, als hätte man 10 Euro in Ein-Euro-Münzen im Portemonnaie und träfe sich mit 9 weiteren Fremden, die auch alle 10 Euro in Ein-Euro-Münzen haben. Nun werfen alle Beteiligten ihre Münzen in einen Topf und man erhält einen Topf mit 100 Ein-Euro-Münzen. Der Topf wird kräftig geschüttelt und jeder Beteiligte bekommt zufällig 10 Ein-Euro-Münzen zurück (der Einfachheit halber bekommt niemand eine Gebühr oder ein Honorar für den Service ausgezahlt). Niemand wird jemals in der Lage sein, die Ein-Euro-Münzen dem Portemonnaie zuzuweisen, aus dem sie dem Topf zugeführt wurden.

Ziemlich genauso funktionieren ConJoins, oder anders genannt Mixer. Es gibt eine Reihe von Diensten, bei denen man seine Coins zum Mixen an einen Pool senden kann. Diese Dienste erhalten für die Vermittlung, Zusammenführung und das Stellen der Infrastruktur eine kleine Gebühr. Namhafte Dienste sind z.B. Samourai’s Whirlpool oder Wasabi. Jeder dieser Anbieter hat - wie bei fast allem im Leben - seine Vor- und Nachteile. Zusätzlich zu den Mixing-Fees kommen natürlich auch die herkömmlichen Transaktionskosten.

Um bei Bitcoin zu bleiben, bedeutet dies, dass Transaktionen aufgebaut werden, die es Überwachungsfirmen oder anderen Beobachtern sehr schwer machen, genau zu wissen, welcher Transaktion-Output zu welchem der Input-Steller gehört. Das bedeutet keineswegs, dass Transaktionen gänzlich unsichtbar gemacht werden oder Inputs verschwinden, denn alles sitzt festgeschrieben und für immer einsehbar in der Blockchain. Allerdings können sich im besten Falle diejenigen, die Transaktionen beobachten oder nachverfolgen wollen, eine Reihe möglicher Szenarien ausdenken oder herleiten, um zu einem von vielen potentiellen Ergebnissen zu gelangen, wer welches Stück Bitcoin besitzt, jedoch kann man sich dessen niemals zu 100% sicher sein.

Alle Anbieter ähneln sich insofern, als dass sie gewisse Mixing-Beträge vorgeben. So kann man bei Samourai z.B. auswählen, ob man seine Coins in 0.01, 0.05 oder 0.5 BTC Pools mixen möchte. Hier kommt es natürlich darauf an, wie viel Vermögen/ Bitcoin gemixt werden soll. Wenn ich 0.5 Bitcoin mixen möchte, sollte ich natürlich nicht den 0.5 BTC Pool auswählen, sondern den 0.05 BTC Pool, da mir nach erfolgreichem Mixen 9 "saubere" UTXOs ausgehändigt werden. Warum nicht 10? Natürlich zahle ich ja auch für die Dienstleistung und für die Transaktion. Das heißt aber nicht, dass ich automatisch 0.05 BTC dafür zahle, sondern nur die Kosten (z.B. 2% der Pool Kosten + Transaktionsgebühren), der Rest der 0.05 BTC in diesem Beispiel würden mir als "unspent" zurück "überwiesen".

Diese Services bieten darüber hinaus auch an, die durch den Mixer generierten Coins im Mixer zu lassen, sodass sie über einen längeren Zeitraum weiter gemischt werden. Man stelle sich eine Waschmaschine vor, in der nur weiße Unterhosen derselben Größe und derselben Marke gewaschen werden. Nach jedem Waschgang nimmt man alle Unterhosen bis auf eine heraus und fügt neue, dreckige, gleiche Unterhosen derselben Größe und Marke hinzu. Die Wahrscheinlichkeit, die eigentlich dem ersten Waschgang hinzugefügte Unterhose zu finden, nimmt mit jedem Waschgang ab.

Man kann CoinJoins natürlich auch komplett selbstbestimmt und fernab von Anbietern durchführen. Das ist das Schöne bei Bitcoin, denn es gibt nichts, was man nicht selbst und selbstbestimmt machen kann. Alle Dienstleister und Anbieter von Services erleichtern den Nutzer//innen lediglich das Leben, indem sie die Netzwerke bereitstellen, die gewisse Unternehmungen einfacher machen und weiter streuen können, als es einem/einer einzelnen Nutzer//in jemals möglich wäre. Einen sehr guten und ausführlichen Guide hat zu diesem Thema der wichtige Arman veröffentlicht:

https://armantheparman.com/cj/

Jetzt habe ich natürlich einen groben Fehler begangen, indem ich CoinJoins und Mixer im gleichen Atemzug erwähnt, bzw. in austauschbarer Weise verwendet habe. Wenn man es ganz genau nehmen mag, ist CoinJoin die gewünschte Maßnahme, wohingegen ein Mixer der Dienstleister einer solchen Aktion ist. Generell sollte bei Anbietern von Diensten Vorsicht genossen werden, da in diesem spezifischen Fall der Dienstleister die UTXOs durcheinanderbringt und die vermischten Transaktionen eines anderen zurücksendet. Damit könnte der Dienstleister natürlich Informationen über genau die Datenpunkte erlangen, die es zu verschleiern galt. Zudem kommt hinzu, dass man seine Coins zunächst einem Custodian, also einem vertrauenswürdigen Dritten sendet, in der Annahme bzw. Hoffnung, dass man den eingezahlten Wert (minus der Gebühren) auch wirklich zurückbekommt.

Tamam! Jetzt habe ich also alle meine Coins von meiner Hardware-Wallet gejoint, zurück auf meine Hardware-Wallet, und habe im Endeffekt einfach nur weniger Sats als vorher, oder? Zusätzlich gab es schon Fälle, in denen Dienstleister (nicht die zuvor genannten) Nutzer//innen markiert haben, die zuvor von einem CoinJoin-Dienst gebrauch gemacht haben. Dementsprechend wussten diese Anbieter über die Herkunft der Coins Bescheid und konnten diese "blacklisten" und haben KYC-Informationen bereitgestellt. Dies führt dann dazu, dass andere Dienstleister solche Nutzer//innen und deren Transaktionen/Keys nicht mehr annehmen.

Darüber hinaus kann man sich die ganze Mühe des Mixens auch sparen, wenn man die gesamte Anzahl an gemixten Coins (UTXOs) wieder ausgibt, oder an ein anderes Wallet sendet (in einer Transaktion). Wie bei allen Themen im Bitcoin-Kosmos, gibt es auch hier wieder die Möglichkeit, sich tiefer mit der Materie auseinanderzusetzen, aber ich hoffe ich konnte einen guten Überblick über den Nutzen und die Funktionalität von Mixing Tools, spezifisch CoinJoins, vermitteln. CoinJoins sind, wie eingangs beschrieben, natürlich nur eins der Mittel, um Bitcoin-Transaktionen noch mehr zu pseudonymisieren, was dem Narrativ der Bitcoin-Gegner in die Karten spielt. Gleichzeitig sind Vorfälle, wie die Verhaftung von Entwicklern dieser Softwarelösungen (TornadoCash) nicht von der Hand zu weisen und Nutzer//innen haben ihre Konten bei gewissen Dienstleistern vorübergehend gesperrt bekommen, weil einige ihrer Transaktionen mit CoinJoin durchgeführt wurden. Jedoch sollte man sich gut überlegen, ob und wieviel man preisgeben möchte.

https://archive.ph/144G5

Wie bei allem ist die persönliche Einstellung zu Sicherheit und Privatsphäre der eigentliche Schlüssel. In einer Zeit, in der viele Menschen ihre Informationen bereitwillig im Internet preisgeben, haben sich viele daran gewöhnt, ihre "Sicherheit" auszulagern und anderen anzuvertrauen. Dies fängt bei Passwort-Managing Apps, wie LastPass an und hört bei Banken auf.

https://techcrunch.com/2022/12/22/lastpass-customer-password-vaults-stolen/

---

Allerdings muss man sich bewusst sein, dass eine digitale Währung im Internet und, wie im Falle von Bitcoin, auf einem öffentlich einsehbaren Ledger lebt. Wenn man Sicherheit in Form von Selbstverwahrung praktiziert, sollte man sich auch überlegen, ob den Schritt auch konsequent zu Ende gehen möchte und sein Erspartes zumindest so anlegt, dass es für Dritte möglichst schwierig ist, dieses auch öffentlich einsehen zu können.

🫳🎤

---

In diesem Sinne, 2... 1... Risiko!‌

@ 37043134:0e04e271

Started writing, must ha ve auto wrapping on word boundaries, it does. Also spell checking. Follows a copy-paste:

Fine, since i cannot find the articles in procedure, or you pointed to the wrong ones?(procedure, not criminal code(these are all in my database), so i cannot be precise as to the technical matter of statute of limitations.

Make your appeal in as concise as possible and take a "hard" stance on the State Prosecutor: according to me the accusations i make are to crimes punishable by up to three years in prison, both the logging(State land, National Park(special purposes), and the appropriation(of State land). I think you are wrong there. They also are crimes to be prosecuted "ex officio" in case the appeal rejects the call to expiration of the statute of limitations?!

Secondly the parcel 413/2 was appropriated in part, that makes me a direct victim, contrary to a "whistle blower" as you hint at(the maps show this clearly), ...i am a whistle blower as to the appropriation of parcel 620, yes. So that makes me both.

The suspension of expiration of the statute of limitations, is according to me(again i do not have the articles and go by the text you sent me over viber), justified on multiple grounds: Tuzilac Bijelo Polje(), petition to the kadaster(), our official requests to the forestry services in Plav and Bjieljo Polje, the ongoing civil court case in Plav, repeat offenses(), the "consequences" of the crime still ongoing(danger of logging). Indeed we have a "strong" case.

It is not about the appeal resulting into sending the complaint to court, it is about documenting ourselves, so we have something to stand on in the future. Send me your draft in Montenegrin so i can assure myself that you take this head on. I insist you add my copy in English to the file you send of.

i regret you did not give me a print copy of the answer of the State Prosecutor, as i expected, you did not answer my repeat request earlier on as to the deadline to appeal, so you left me in "ignoramus" mode, which i have to pay now by being "un-briefed" on the specifics of the matter,

My compliment to the contrary for having set up your team, a permanent presence(your sister back-up here while away), that is expected, but still it is nice to see it done on your own initiative"(a copy-paste)

@ 7ec80607:128517c5

Landscaping is an essential part of creating a beautiful, functional, and harmonious outdoor environment. It not only enhances the aesthetics of a property but can also improve its value. The right landscaping design can transform a simple outdoor space into a sanctuary, combining elements like plants, trees, water features, and hardscaping to create an inviting and peaceful atmosphere. Below are 10 of the best landscaping examples that incorporate a variety of design elements, from stunning plant arrangements to innovative hardscaping features.

**1. Tropical Oasis Landscape ** A tropical oasis landscape features lush, vibrant greenery, colorful flowers, and often, water features like ponds or waterfalls. This style is perfect for creating a serene getaway right in your backyard. Key elements of a tropical oasis include: Lush Foliage: Use of large-leafed plants like banana trees, palms, and bamboo to create a dense, jungle-like atmosphere. Water Features: Adding a small pond or a bubbling water fountain can enhance the tropical feel, creating soothing sounds. Colorful Flowers: Brightly colored flowers like hibiscus, bougainvillea, and bird of paradise add pops of color. The lush greenery and vibrant flowers of a tropical oasis can bring a piece of the tropics to your home, ideal for those looking to create a vibrant, tranquil environment.

1. Zen Garden Landscape Inspired by Japanese traditions, the Zen garden is designed to promote peace and mindfulness. These gardens often use minimalist design principles and focus on simplicity, harmony, and balance. Important elements of a Zen garden include:

Rocks and Gravel: The use of stones or gravel is a defining feature. Gravel is often raked into patterns to represent water or to mimic waves. Bamboo and Evergreens: Bamboo is a staple in Zen gardens for its calming and serene appearance. Evergreen trees, such as Japanese maples, are also commonly used to maintain year-round beauty. Water Features: While Zen gardens typically use dry landscapes, small, serene water features like fountains or small ponds can be added to introduce a sense of tranquility. Zen gardens are ideal for homeowners seeking a low-maintenance, minimalist landscape that focuses on tranquility and a sense of balance.

1. Modern Minimalist Landscape The modern minimalist landscape design focuses on simplicity, clean lines, and functional design. It utilizes a restrained palette of plants and materials, making the most of space and emphasizing architectural features. Key elements include: Hardscaping: A minimalist landscape often incorporates large, geometric pavers, concrete walkways, and steel accents. Low-maintenance Plants: Choose a limited selection of low-maintenance plants such as succulents, grasses, and boxwoods. Open Spaces: The design tends to keep the lawn area open and unobstructed, with well-defined edges to enhance the simplicity. This design style suits contemporary homes and urban settings, providing a sleek, uncluttered look with a focus on clean lines and a structured environment.
2. Cottage Garden Landscape A cottage garden creates a charming, whimsical, and cozy outdoor space filled with a mix of flowering plants and lush greenery. These gardens often evoke a sense of nostalgia and can make your garden feel like an English countryside retreat. Key features of a cottage garden include: Dense Planting: Layering plants such as roses, lavender, daisies, and geraniums in a loose, informal arrangement. Paths and Arbors: Winding paths made of natural materials like cobblestone or gravel, with arbors and trellises to support climbing plants like ivy and wisteria. Rustic Elements: Incorporating rustic furniture like benches, birdbaths, or vintage watering cans adds to the charm. Cottage gardens are ideal for those who want a vibrant, naturalistic garden that feels both personal and inviting.
3. Desert Landscape Desert landscaping, or xeriscaping, is designed for dry climates and focuses on water conservation by using drought-tolerant plants and minimal water usage. This landscaping style can create a stunning, low-maintenance environment. Key features of a desert landscape include: Succulents and Cacti: These hardy plants, such as agave, aloe, and prickly pear, are central to desert landscapes. Gravel and Sand: The use of gravel, pebbles, and sand in place of grass creates a clean, open aesthetic and reduces water needs. Rock Features: Boulders and large stones can be incorporated to create visual interest and mimic natural desert formations. Desert landscaping is ideal for homeowners in arid climates, offering both beauty and efficiency while minimizing water usage.

**6. Formal Garden Landscape ** A formal garden is all about symmetry, structure, and order. These gardens often feature geometric shapes, carefully manicured plants, and neatly trimmed hedges. Key features of a formal garden include: Symmetrical Layout: Paths, hedges, and flowerbeds are arranged in precise patterns, often with a central focal point like a fountain or statue. Topiary and Hedges: Neatly trimmed hedges and topiary (shaped plants) add a sculptural element to the landscape. Classic Elements: Use of classical features such as statues, urns, and decorative vases enhances the formality of the design.

A formal garden is well-suited for large properties or historic homes, where precision and elegance are important.

**7. Coastal Landscape ** A coastal landscape embraces the relaxed, breezy feel of the beach and sea, often incorporating elements like salt-tolerant plants and open spaces. Key components of a coastal landscape include: Native Coastal Plants: Plants such as sea oats, beach grass, and dune lilies are ideal for coastal landscapes because they can thrive in salty, windy environments. Natural Stone: The use of large stones or driftwood can evoke the rugged beauty of the shoreline. Relaxed Layout: Coastal gardens tend to have a more informal, flowing design with wide open spaces and paths that blend seamlessly with the natural surroundings. This style is perfect for beachfront properties or those looking to bring the calming ambiance of the coast to their outdoor space.

**8. Woodland Garden Landscape ** Woodland gardens are designed to create a natural, forest-like environment, often under the canopy of large trees. These gardens offer a cool, shaded area full of texture and variety. Key elements include: Shade-loving Plants: Ferns, hostas, and primroses thrive in shaded environments and provide rich textures and colors to the garden.

Layered Planting: Woodland gardens often feature a variety of plant layers, with ground covers, shrubs, and trees creating a rich, natural composition. Natural Pathways: Winding, organic paths made from mulch, stone, or wood chips help maintain the natural feel of the garden.

Woodland gardens are perfect for areas with mature trees or shaded locations, offering a peaceful retreat with a focus on nature’s tranquility.

**9. Edible Landscape ** An edible landscape integrates functional food-producing plants into the garden, making it both beautiful and practical. These gardens focus on incorporating fruits, vegetables, herbs, and edible flowers into the overall design. Key features of an edible landscape include: Raised Beds and Containers: Raised garden beds, pots, or containers allow for easy cultivation of vegetables, fruits, and herbs.

Fruit Trees: Incorporating fruit trees like apple, pear, or citrus adds both beauty and function. Edible Flowers: Incorporating flowers like nasturtiums or lavender can provide color as well as culinary benefits.

Edible landscaping is ideal for those looking to combine aesthetics with sustainability, growing their own food while enhancing the beauty of their outdoor spaces.

**10. Water-Wise Landscape ** Water-wise landscaping focuses on creating beautiful outdoor spaces while minimizing water usage. This is especially important in regions where water conservation is a concern. Key features include: Drought-Tolerant Plants: The use of native plants that require less water, such as lavender, succulents, and yucca, is a key element. Efficient Irrigation Systems: Drip irrigation systems are commonly used to minimize water wastage while ensuring plants get the right amount of hydration. Mulching: Applying mulch around plants helps retain moisture, reduce evaporation, and keep the soil cool. Water-wise landscaping is ideal for homeowners in dry climates, providing an eco-friendly and cost-effective solution to maintaining a beautiful garden.

**Conclusion ** Landscaping offers an incredible range of possibilities to transform outdoor spaces into beautiful and functional environments. From tropical oases to formal gardens and water-wise landscapes, each type of landscape design brings its unique elements and benefits. Whether you are looking to create a peaceful retreat, a low-maintenance garden, or a functional space for growing your own food, the best landscaping examples provide inspiration and ideas to make your outdoor space truly spectacular. By selecting the right elements for your climate, lifestyle, and aesthetic preferences, you can create a garden that enhances both the beauty and value of your property.

@ e83b66a8:b0526c2b

When we had the Gold standard, gold only backed assets.

Now we are approaching the Bitcoin Standard, what will happen if Bitcoin is used to back debt?

$MSTR is the Alpha release

Trumps USA will be the Beta release.

If it works, the world has $315T of debt. That will be the full release V1.0

In comparison, the world has $454T of assets.

Can it be done?

What happens when you back a negative debt with a positive asset?

Has it ever been tried?

Is it possible?

The problem with the debt is it isn't "owed" to anyone.

If I lend you $10 you owe me $10.

To explain further:

If you lend me $10 worth of gold, then I can pay you back $10 of money if it's backed with gold - the gold standard.

If you lend me $10 worth of gold, and I pay you back with unbacked fiat, the repayment is arbitrary.

Like for like you can back any backed money with any asset.

Without a backed money, you can only repay an asset with an asset, otherwise paying with fiat, the global books don't balance.

In the current fiat world, if the US government print $10 and sells it to the market for $10 + interest, their is no creditor. You are simply diluting all other dollars.

When they have to pay back the debt to the “creditor”, they can't return the original $10 because that's been spent and they haven't generated any wealth (they are a government, not a company), so everything they return (the original lent $10 + interest) is printed again.

This is monetary recursion and destroys all fiat systems eventually.

So what happens when you insert a hard asset into the equation? Do you destroy or weaken that asset, you certainly don't strengthen it.

Does this turn Bitcoin into an inflationary currency despite its inherent deflationary properties.

After all, the U.S. had to come off the gold standard, because they didn't have enough gold to pay back.

I think best case scenario is Bitcoin repeats what happened to gold. It weakens Bitcoin until it makes it flacid, at which time the government will be forced to leave the Bitcoin Standard and Bitcoin will be a shadow of its potential.

Why?

Currency can be created and destroyed.

Money (the measure of wealth) is absolute.

I think this is the fundamental flaw, we believe money can be created and destroyed simply because we are used to printing or burning government fiat and have copied that model for Crypto currencies like Ethereum or Tether, which are mined or burned.

So money (invent better word) cannot be printed or destroyed, it is a measure of wealth and if you increase or decrease the supply you change the unit measurement, not the money.

So what are the potential end point valuations of Bitcoin?

Can Bitcoin approach a $21M coin valuation? i.e. 21M Coins at $21M?

If Bitcoin only backs assets, then it can't exceed, or even approach the total value of world wealth, currently $454T

At $21M for 21M coins, this approaches world wealth.

If Bitcoin is used to back debt, then you can add a further $315T of value, so if we assume $100T (about 1/4) of asset value + $300T of debt value, then we approach $21M per coin.

Another potential way of projecting the eventual stable price of Bitcoin:

If world wealth is currently around $454T

And world debt is currently around $315T

then can we consider it like a company and consider the profit to be $454T - $315T = $139T

Would that be a good expectation for final Bitcoin price?

i.e. $139T / 21M = $6.6M per BTC

However, I'm not certain Bitcoin can survive being used to back debt.

Gold never did that.

@ a012dc82:6458a70d

Table Of Content

• The Challenge of Sustainability in Bitcoin Mining

• Embracing Renewable Energy Sources

• Optimal Location Selection

• Energy-Efficient Hardware

• Collaborative Mining Pools

• Managing Operational Costs

• The Rise of Green Certifications

• Balancing Profitability and Environmental Responsibility

• Conclusion

• FAQ

Bitcoin mining, once an energy-intensive endeavor, has evolved significantly over the years. As the popularity of cryptocurrencies soared, so did concerns about its environmental impact. In this article, we will delve into the concept of sustainability in Bitcoin mining and explore how the industry is adapting to revenue constraints while being conscious of its ecological footprint.

The Challenge of Sustainability in Bitcoin Mining

The advent of Bitcoin brought about a revolutionary decentralized digital currency, empowering individuals and businesses to conduct transactions without the need for intermediaries. However, the process of mining Bitcoins, which involves solving complex mathematical algorithms to validate transactions, requires substantial computational power and energy consumption. This energy-intensive nature of mining has raised concerns about its environmental sustainability.

Embracing Renewable Energy Sources

In recent years, the Bitcoin mining community has taken significant strides towards embracing renewable energy sources. By transitioning from traditional fossil fuels to sustainable alternatives such as solar, wind, and hydroelectric power, miners aim to reduce their carbon footprint significantly. This shift not only addresses environmental concerns but also ensures long-term viability for the industry. By harnessing clean and renewable energy, miners can continue their operations without exacerbating environmental issues.

Optimal Location Selection

One of the critical strategies for sustainable Bitcoin mining is choosing the right location. Mining operations tend to thrive in regions with abundant renewable energy resources, enabling them to power their data centers efficiently. Countries with progressive policies promoting green energy have become attractive destinations for miners seeking sustainability. Selecting an optimal location ensures that miners can run their operations with minimal reliance on non-renewable energy sources, reducing their overall environmental impact.

Energy-Efficient Hardware

Advancements in technology have led to the development of energy-efficient mining hardware. Miners now have access to Application-Specific Integrated Circuits (ASICs) that offer better performance while consuming less power. By upgrading to these energy-efficient machines, miners can maximize their hashing power and revenue while minimizing energy consumption. Utilizing energy-efficient hardware is an essential step towards creating a sustainable mining ecosystem, where efficiency and profitability coexist harmoniously.

Collaborative Mining Pools

In an effort to enhance sustainability, miners are increasingly joining collaborative mining pools. These pools allow multiple miners to work together and share their computational resources, reducing individual energy consumption. Moreover, the pool's reward system ensures a more consistent income stream, mitigating revenue constraints. By pooling resources, miners can optimize their energy usage and achieve higher profitability, while also fostering cooperation within the mining community.

Managing Operational Costs

Sustainability in Bitcoin mining also requires effective management of operational costs. Energy expenses are a significant part of mining operations, so miners are constantly seeking innovative ways to optimize energy usage. Implementing smart energy management systems and adopting best practices in data center cooling are some of the approaches employed to reduce costs. Efficient cost management not only improves a miner's bottom line but also contributes to overall sustainability by minimizing resource wastage.

The Rise of Green Certifications

To prove their commitment to sustainability, several mining companies now seek green certifications. These certifications authenticate that a mining operation is using a substantial portion of renewable energy, providing transparency and building trust among investors and stakeholders. Green certifications serve as a testament to a miner's dedication to reducing their environmental impact, which can attract socially responsible investors and customers. As the demand for environmentally conscious practices grows, green certifications become a valuable asset for sustainable mining businesses.

Balancing Profitability and Environmental Responsibility

While sustainability is a priority, miners must also navigate revenue constraints in a highly competitive market. Striking a balance between profitability and environmental responsibility remains a challenge. However, the industry's evolution towards sustainability demonstrates its commitment to minimizing its ecological impact. Miners face the delicate task of maximizing revenue while adopting environmentally friendly practices. By continually innovating and optimizing operations, miners can secure their financial viability while contributing to a greener and more sustainable future for Bitcoin mining.

Conclusion

Sustainability in Bitcoin mining is no longer an afterthought but a crucial aspect that miners are actively pursuing. By embracing renewable energy sources, optimizing hardware, and employing collaborative approaches, the industry is adapting to revenue constraints while mitigating its environmental footprint. As technology continues to advance, it is likely that Bitcoin mining will become even more sustainable, ensuring the longevity of this groundbreaking digital currency for generations to come.

FAQ

What is sustainability in Bitcoin mining? Sustainability in Bitcoin mining refers to adopting practices and technologies that reduce the environmental impact of mining operations while ensuring long-term viability for the industry.

How are miners embracing sustainability? Miners are embracing sustainability by transitioning to renewable energy sources, using energy-efficient hardware, joining collaborative mining pools, and optimizing operational costs.

Why is renewable energy important for Bitcoin mining? Renewable energy is vital for Bitcoin mining as it significantly reduces the carbon footprint associated with energy-intensive mining operations, promoting environmental responsibility.

What are collaborative mining pools? Collaborative mining pools are groups of miners working together and sharing their computational resources to improve efficiency and achieve a more consistent income stream.

That's all for today

If you want more, be sure to follow us on:

NOSTR: croxroad@getalby.com

X: @croxroadnews

Instagram: @croxroadnews.co

Youtube: @croxroadnews

Store: https://croxroad.store

Subscribe to CROX ROAD Bitcoin Only Daily Newsletter https://www.croxroad.co/subscribe

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.

@ 502ab02a:a2860397

ผมไถ tiktok ก่อนนอนตามประสาคนเสพแสงฟ้า 555 พบว่ามีไวรัลอาหารเช้าแบบนึง ที่มีคนทำคลิปกันเยอะพอสมควร ชื่อว่า Balkan Breakfast ก็อดสงสัยไม่ได้เลยกลายเป็นว่า ต้องไถหาข้อมูลเพื่อทำความเข้าใจ จนมาสรุปย่อให้เพื่อนๆที่อาจสงสัยเหมือนผม ได้อ่านกันขำๆไว้ด้วยครับ ออกตัวไว้ก่อนว่า ผมไม่ใช่ชาวบอลข่าน จึงไม่ได้รู้ดีแบบลึกซึ้งนะครับ

เรื่องมีอยู่ว่าในแถบคาบสมุทรบอลข่าน (Balkan Peninsula) ที่เต็มไปด้วยวัฒนธรรมและประวัติศาสตร์อันยาวนาน อาหารเช้านั้นจึงถือเป็นสิ่งสำคัญที่สะท้อนเอกลักษณ์ท้องถิ่นได้อย่างชัดเจน Balkan Breakfast คืออาหารเช้าที่ผสมผสานความเรียบง่ายและวัตถุดิบธรรมชาติไว้อย่างลงตัว ซึ่งในแถบบอลข่านครอบคลุมพื้นที่หลากหลาย เช่น เซอร์เบีย บัลแกเรีย โครเอเชีย และมาซิโดเนีย อาหารเช้าในภูมิภาคนี้ได้รับอิทธิพลจากทั้งวัฒนธรรมออตโตมัน ยุโรปตะวันออก และกรีก ตัวอย่างเมนูที่มักพบในอาหารเช้าแบบ traditional นี้มักจะประกอบไปด้วย - Burek: แป้งฟิโลสอดไส้เนื้อ ชีส หรือผักโขม - Kajmak: ครีมชีสที่มีรสชาติเข้มข้น มักทานคู่กับขนมปัง - Ajvar: ซอสพริกหยวกแดงและมะเขือยาว มีรสชาติกลมกล่อม - Proja: ขนมปังข้าวโพดที่นิยมเสิร์ฟพร้อมโยเกิร์ต - ผักสด: เช่น แตงกวา แตงกวาดอง Bell Pepper มะเขือเทศ หรือ หัวหอมใหญ่ เพิ่มความสดชื่นและสีสันให้จานอาหาร

อธิบายอาหารเพิ่มเติมเพื่อให้เห็นภาพนะครับ Burek (บูเร็ก) คือขนมอบที่มีต้นกำเนิดจากแถบบอลข่าน โดยเฉพาะในประเทศตุรกี, เซอร์เบีย, บอสเนีย, มาซิโดเนีย และประเทศอื่นๆ ในภูมิภาคนี้ Burek เป็นขนมอบที่ทำจากแป้งฟิโล Burek มีหลายรูปแบบ โดยทั่วไปจะทำเป็นพายหรือม้วน ขึ้นอยู่กับการห่อหรือจัดรูปทรง โดยส่วนใหญ่จะใช้แป้งฟิโลห่อไส้ให้เป็นชั้นๆ แล้วนำไปอบจนได้ความกรอบและสีน้ำตาลทอง ไส้ของ Burek สามารถมีได้หลากหลายชนิดเช่น บูเร็กไส้เนื้อวัวหรือเนื้อแกะ บูเร็กไส้ชีสโดยมักใช้ชีสเฟตาหรือชีสมอสซาเรลล่า ไส้ผักที่ใช้ผักโขมหรือมันฝรั่ง หรือบางทีก็ไส้ผสมกันไปเลยครับ เนื้อกับชีส เนื้อกับผัก ชีสกับผัก เอาจริงๆก็แล้วแต่สะดวก

ส่วนแป้งฟิโล (Phyllo Dough) นั้นเป็นแป้งชนิดหนึ่งที่ใช้ในอาหารหลากหลาย โดยเฉพาะในอาหารเมดิเตอร์เรเนียนและแถบบอลข่าน ลักษณะเด่นของแป้งฟิโลคือความบางเหมือนกระดาษและความยืดหยุ่น มักใช้เป็นชั้นๆ ซ้อนกันในเมนูที่ต้องการความกรอบเมื่ออบหรือทอด ต่างจากแป้งพัฟ (Puff Pastry) ที่มีไขมันผสมในเนื้อแป้ง แป้งฟิโลมักใช้น้ำมันหรือเนยทาแยกแต่ละชั้นเพื่อเพิ่มความกรอบ ส่วนประกอบของแป้งฟิโลจะมี แป้งสาลี น้ำ เกลือ

Kajmak (อ่านว่า ไค-มัก หรือ คาย-มัก) เป็นผลิตภัณฑ์นมชนิดหนึ่งที่มีต้นกำเนิดจากแถบบอลข่านและคอเคซัส นิยมใช้ในอาหารหลากหลายประเภททั้งในเซอร์เบีย บอสเนีย มอนเตเนโกร ตุรกี และประเทศใกล้เคียง Kajmak คือ ครีมชีสดั้งเดิมทำจากนมดิบ เช่น นมวัว นมควาย หรือนมแพะ ที่มีลักษณะคล้ายครีมหนาและเนย อุดมไปด้วยไขมันและมีรสชาติที่นุ่มละมุน บางครั้งจะมีรสเปรี้ยวเล็กน้อยเนื่องจากกระบวนการหมัก เนื้อสัมผัสนุ่มคล้ายครีม มีความมันสูง

Ajvar (อ่านว่า ไอ-วาร์ หรือ อัย-วาร์) เป็นเครื่องจิ้มและเครื่องเคียงที่มีต้นกำเนิดจากภูมิภาคบอลข่าน โดยเฉพาะในประเทศเซอร์เบีย มาซิโดเนีย และประเทศรอบๆ Ajvar เป็นที่นิยมในอาหารท้องถิ่นและมักเสิร์ฟคู่กับขนมปัง เนื้อย่าง หรืออาหารประเภทอื่นๆ Ajvar นั้นทำมาจาก พริกหวานแดง (Red Bell Pepper) เป็นส่วนผสมหลัก บางสูตรอาจเพิ่ม มะเขือยาว และ กระเทียม เพื่อเพิ่มรสชาติ มีเนื้อสัมผัสที่เนียนละเอียดหรือหยาบเล็กน้อย แล้วแต่สูตรครับ วิธีทำ Ajvar คือ ย่างหรืออบพริกหวานและมะเขือยาว เพื่อให้ได้กลิ่นหอมและรสชาติที่เข้มข้น จากนั้นปอกเปลือกเอาเปลือกที่ไหม้ออกเพื่อความนุ่มเนียน แล้วจึงนำไปบดหรือปั่นส่วนผสมจนได้เนื้อที่ต้องการ จบด้วยการผัดในน้ำมันเคี่ยวส่วนผสมทั้งหมดในน้ำมันจนเข้ากันดี Ajvar มี2แบบคือ แบบหวาน (Sweet Ajvar) จะไม่มีพริกเผ็ด รสชาติเข้มข้นแต่ไม่เผ็ด แบบเผ็ด (Hot Ajvar) จะใส่พริกเผ็ดหรือพริกป่นเพื่อเพิ่มความเผ็ด

Proja (โปรยา) เป็นขนมปังที่อร่อยและสะดวกในการทำ เป็นทางเลือกที่ดีในการรับประทานอาหารประเภทขนมปังที่แตกต่างจากขนมปังสไตล์ตะวันตกที่เราคุ้นเคยกัน โดยเป็นขนมปังข้าวโพดหรือขนมปังประเภทแป้งข้าวโพดที่มีต้นกำเนิดจากแถบบอลข่าน โดยเฉพาะในประเทศเซอร์เบีย, มาซิโดเนีย, บอสเนีย และโคโซโว Proja มักเสิร์ฟเป็นอาหารข้างเคียงกับจานหลัก เช่น เนื้อย่าง ไส้กรอก หรือ ซุป หรือเสิร์ฟกับ โยเกิร์ต และ ชีส สำหรับมื้อเช้า บางครั้งก็จะมีการใส่สมุนไพรหรือชีสลงไปในเนื้อขนมปังเพื่อเพิ่มรสชาติ ลักษณะของ Proja นั้นจะเป็นขนมปังที่มีความหนานุ่ม เนื้อแน่น และมักจะมีรสชาติหวานนิดๆ หรือเค็ม ขึ้นอยู่กับสูตรและการปรุง มีรสชาติคล้ายขนมปังข้าวโพดแบบดั้งเดิม แต่เนื้อสัมผัสจะมีความเบากว่า

มื้อเช้าสไตล์บอลข่านมักจัดอย่างเรียบง่ายแต่เต็มไปด้วยรสชาติและคุณค่า โดยมีเครื่องดื่มเสริม เช่น กาแฟหรือชาสมุนไพร หรือโยเกิร์ต ส่วนบางคลิปใน tiktok จะเห็นว่ามีการดื่มน้ำมันมะกอก หรือ เอาขนมปังจิ้มน้ำมันมะกอกด้วย อันนี้เท่าที่หาข้อมูลมา ยังไม่ปรากฎว่ามีใน balkan breakfast แบบทั่วไปนัก น่าจะเป็นการประยุกต์ในยุคนี้ครับ เพราะวัตถุดิบจะใกล้เคียงกับเมดิเตอเรเนียนไดเอท รวมถึงน้ำมันมะกอกถือเป็นส่วนสำคัญของอาหารในแถบนี้ เนื่องจากพื้นที่บอลข่านบางส่วน เช่น แอลเบเนีย โครเอเชีย และมอนเตเนโกร มีการปลูกมะกอกคุณภาพสูง น้ำมันที่ได้จึงเป็นน้ำมันมะกอกบริสุทธิ์ (Extra Virgin Olive Oil) ซึ่งมีรสชาติและกลิ่นเฉพาะตัว

ใน TikTok นั้น Balkan Breakfast เป็นไวรัลคลิปได้ง่าย เพราะการถ่ายทำแบบ ASMR ที่เน้นเสียงการกินที่ดังกว่าปกติ ทำให้ดึงดูดสายตาให้หยุดดูคลิปได้ง่าย บนโต๊ะประกอบกับผักสดต่างๆเช่น แตงกวา Bell Pepper และหัวหอมใหญ่ ที่จัดเรียงบนจานร่วมกับชีส โยเกิร์ต ส่วนของบางอย่างอาจใช้ของทดแทนแบบง่ายๆเช่น ขนมปัง หรือบาแกต แทน Burek ซอสมะเขือเทศ แทน Ajvar

การกลับมาเป็นที่นิยมของ Balkan Breakfast ใน TikTok ช่วยให้วัฒนธรรมบอลข่านนี้เผยแพร่ไปทั่วโลก พร้อมแสดงให้เห็นว่าอาหารเช้าแบบ traditional สามารถผสมผสานกับไลฟ์สไตล์ยุคใหม่ได้อย่างลงตัวอยู่เหมือนกัน

บางกรณีก็บอกว่า Balkan Breakfast เป็นมื้ออาหารที่ช่วยกระตุ้นการทำงานของโพรไบโอติกส์ เนื่องจากมีโยเกิร์ตและผักต่างๆและซอสที่มีคุณสมบัติพรีไบโอติกส์รวมเข้าด้วยกัน

บางกรณีก็บอกว่าเป็นแค่แฟชั่นฉาบฉวย กินแบบไม่ตรงต้นฉบับ ต้องการแค่ของมากองๆหน้าจอแล้วกัดให้ดังๆ ซู้ดให้มีเสียงเพื่อเรียกยอดวิว

ก็เรื่องอาหารจะเช่นเดิมครับ ผมมองว่าไม่มีผิดไม่มีถูก สำหรับผมแล้วมองว่า การกินแยกกันทีละคำแบบนี้ ถ้าจับอย่างละนิดหน่อยมารวมกัน ในชิ้นเดียวก็แซนวิชดีๆนี่แหละครับ enjoy การกินแบบไหนก็แบบนั้นไปได้เลยครับ คนเรากินตามที่ชอบที่ชอบอยู่แล้วครับ คิดมากฉี่เหลือง ถ้ามองสารอาหารกรณีที่ไม่ได้ limit คาร์บ ก็ถือว่าเป็นมื้ออาหารที่ไม่แย่ กรณีถ้ามีไส้กรอกก็พยายามดูตัวที่ไม่ได้อุตสาหกรรมมาก ส่วนถ้าใคร limit คาร์บก็พึงระวัง เพราะคาร์บหนักพอสมควรเนื่องจากเน้นการให้พลังงานครับ

bon appétit

#กูต้องรู้มั๊ย #PirateKeto #siripun

@ ae6ce958:d0f02c7d

As blockchain technology continues to revolutionize industries, regulatory compliance remains a key concern for businesses engaging in token sales. For DamageBDD, an Australian-registered business offering Damage Tokens, compliance with Australian laws is critical. This article explores why DamageBDD cannot sell Damage Tokens without implementing Know Your Customer (KYC) protocols.

---

Regulatory Landscape for Token Sales in Australia

In Australia, the regulation of digital assets is governed by the Corporations Act 2001 and overseen by the Australian Securities and Investments Commission (ASIC). Additionally, businesses handling digital currencies or assets may fall under the scope of the Anti-Money Laundering and Counter-Terrorism Financing Act 2006 (AML/CTF Act), enforced by AUSTRAC (Australian Transaction Reports and Analysis Centre).

The classification of a token—whether as a utility, payment, or security token—determines the regulatory requirements. However, even utility tokens can trigger KYC obligations depending on their functionality and how they are sold.

---

Legal Obligations for DamageBDD

As a registered Australian business, DamageBDD must comply with the following legal and regulatory requirements:

1. Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF) Laws

If Damage Tokens are traded for fiat currency or cryptocurrencies (e.g., Bitcoin), the transactions may fall under the definition of "designated services" in the AML/CTF Act. This classification requires businesses to:

Register with AUSTRAC.

Conduct customer identification and verification (KYC).

Report suspicious transactions and large cash transactions to AUSTRAC.

Failure to comply with these requirements can result in significant fines or legal action.

1. Securities and Investment Laws

If Damage Tokens are deemed to have characteristics of financial products (e.g., offering investment returns or being tradable on secondary markets), they may be classified as securities under the Corporations Act 2001. Selling such tokens would require:

KYC compliance.

Licensing as an Australian Financial Services (AFS) provider or operating under an authorized exemption.

Even if the tokens are marketed as utility tokens, their classification can change based on how they are used, sold, or perceived in the market.

---

Risks of Selling Without KYC

Selling Damage Tokens without KYC exposes DamageBDD to significant legal and reputational risks:

1. Regulatory Breaches: If regulators determine that Damage Tokens fall under AML or securities laws, selling without KYC could result in penalties or the suspension of business operations.

2. Enabling Illegal Activities: Without KYC, there is a higher risk of tokens being used for money laundering, terrorism financing, or other illicit purposes.

3. Loss of Market Confidence: Non-compliance can damage trust with customers, partners, and investors, hindering the long-term success of DamageBDD.

---

The Importance of KYC for DamageBDD

Implementing KYC is not just about regulatory compliance; it also enhances the credibility and security of DamageBDD:

Protecting Customers: Ensures that tokens are used by legitimate individuals and businesses.

Building Trust: Demonstrates DamageBDD's commitment to ethical business practices.

Future-Proofing the Business: Prepares DamageBDD for evolving regulations, minimizing the risk of operational disruptions.

---

Steps for Compliance

To comply with Australian laws, DamageBDD can take the following steps:

1. Token Classification: Work with legal experts to confirm whether Damage Tokens are utility, payment, or security tokens.

2. AML/CTF Registration: Register with AUSTRAC and implement AML/CTF protocols.

3. KYC Process: Use digital identity verification tools to streamline KYC for token buyers.

4. Legal Advice: Continuously engage with legal advisors to stay updated on regulatory changes.

---

Conclusion

As a registered Australian business, DamageBDD operates in a regulatory environment that prioritizes transparency and the prevention of financial crimes. Selling Damage Tokens without KYC would not only breach Australian laws but also compromise the integrity and sustainability of the DamageBDD project. By embracing KYC and ensuring compliance, DamageBDD can establish itself as a trusted player in the blockchain industry, unlocking long-term growth and success.

AU #Compliance #Regulations

@ bc6ccd13:f53098e4

It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.

-Henry Ford

A century later, this quote is still as true as the day it was written. And with all the information available at our fingertips, the overwhelming majority still haven't educated themselves on the function of the banking system. That's a tragedy, given the significant role banking plays in the modern economy, and the corruption at the very base of the industry.

Banking is built on a lie. It's a big lie. Not in the sense of how false it is, but in the sense of the harm caused. It's more of a “weasel words” type of lie, a lie of omission and misdirection, the kind of lie a sleazy lawyer would use to get a guilty client off the hook. My goal is to explain, as clearly as possible, how the modern banking system works. Why you should care will be a topic for another day.

I want to start off with a big thank you to whoever created the website https://banklies.org/. If you aren't familiar with this gem, bookmark it now. There's no better place on the internet to get detailed documentation on this particular subject. Everyone should spend an afternoon reading and listening to the information there. You'll never be able to see the world the same way if you absorb it and understand the implications.

Where Does Money Come From?

There's been a lot of talk since the COVID “pandemic” and associated QE deluge about the Fed and their money printing. Most people have some awareness that “the Fed prints money and that causes inflation.” There's some truth to that idea, but it also misses the real story. Most people don't understand that when someone says “money printing,” the correct response is “which kind of money?”

Banks operate by calling two different things “money,” and hoping everyone treats them the same. The average person might say “I have $100 in my wallet” or “I have $100 in my bank account” without realizing they aren't talking about the same thing at all. They might take the $100 in their wallet and “put it in the bank” without realizing that as soon as they do, that $100 becomes something else entirely.

The $100 bill in your wallet has the words “Federal Reserve Note” printed on it. This is one form of what's known as “base money.” Base money exists in two forms, cash and bank reserves. You can think of bank reserves as electronic cash that only banks can use.

Base money is created by the Federal Reserve. Creating base money is what the Fed does when they “print money.” They create bank reserves electronically by putting the numbers in the ledger at the Fed. The cash is printed by the Treasury, but that's just a technicality, it's printed at the request of the Fed.

The current circulating supply of cash is $2.3 trillion, and bank reserves are about $3.5 trillion. However, if you look at the total amount of US dollars, including money in people’s bank accounts, it’s currently $20.8 trillion dollars. So if base money is $5.8 trillion in total, what is the other $15 trillion? Well, it’s largely made up of bank deposits. So where do bank deposits come from? It can’t be cash people deposit into their accounts, like you might expect from the name, since cash only totals $2.3 trillion and bank deposits are over 6 times larger. The answer is that banks create them.

So as you can see, the largest category of dollars aren’t “printed” by the Fed, they’re created by the banks. And the way banks create dollars is so simple, it almost doesn’t seem real. Banks create money by making loans.

This seems completely counterintuitive to the way most people imagine banks work. That’s understandable, since the way banks work has almost no relation to the way individuals handle their own finances. You might make a loan to someone. Your friend asks to borrow $20 at the restaurant since he forgot his wallet at home. You pull yours out and hand him a $20 bill. In order to make that loan, you had to go to work, accomplish something, get paid, and save that $20 in your wallet. You couldn’t spend the $20, and you can’t spend it now until your friend pays back the loan. Obviously no new money was created to make that loan, work was done and money was saved and then given to the borrower so he can spend it instead of the lender.

Most people assume banks work the same way. They assume that when they deposit some money at the bank, the bank stores that money in a vault somewhere with their name on it. And they assume that when banks make loans, they take some money from a big pile of money stored in a vault somewhere and give it to the borrower. But that isn’t how it works at all.

When someone goes to the bank for a loan, the bank doesn’t draw on some pile of cash they have saved up somewhere. Instead, they use a simple accounting trick. They create a bank account for the borrower, and they type the amount of the loan into the borrower’s account balance. It’s really that simple. That balance becomes a “bank deposit.” Even though that money was never deposited in the bank, and in fact didn’t exist at all until the bank typed those numbers into the computer, it’s still called the same thing as the money you deposit into the bank when you get your paycheck.

So what is a bank deposit? It’s really a promise by the bank to give the account holder money. If you have $100 in your bank account, you expect to be able to go to the bank and withdraw that $100 in cash from your account and put it in your pocket. Remember, that $100 bill is base money, something completely different from the bank deposit in your savings or checking account. The implicit promise by banks is that any money in your bank account, any bank deposit, is as good as cash and can be exchanged for cash at any moment.

But of course that must be a lie, since there are $15 trillion of bank deposits and only $2.3 trillion dollars of cash. That means if everyone in the US went to the bank tomorrow and tried to withdraw their money in cash, the banks would run out of cash while still owing $12.7 trillion dollars to depositors. It’s actually much worse than that, since a lot of the cash is already in peoples’ pockets, much of it circulating in foreign countries outside the US. Banks only hold around $100 billion in their vaults on any given day. So if everyone tried to withdraw their money from their bank accounts, which banks have implicitly promised they can do, each person could get around $0.007 of every dollar on deposit. That’s less than one cent of every dollar. So the promise banks are built on, the promise to give you the money in your account, turns out to be at least 99% a lie.

So how can it continue like this? How do banks keep operating with so little cash and so many promises to give cash? Why does anyone put money in the bank when they keep less than a penny of every dollar you deposit available to withdraw when you need it? The answer is, banks don’t tell you that. And if nobody knows, people won’t all come asking for their money one day. If they did, all the banks would fail instantly. So they do anything in their power to keep that from happening.

How Do Bank Deposits Work?

The reason most people never question the function of their bank, is that banks do everything possible to make their dishonest “bank deposits” function the same as cash, and actually better than cash in a lot of ways. Instead of having to withdraw cash from your bank and give it to someone, you can just exchange bank deposits. You can do this in a lot of super convenient ways, like writing a check or using a debit card, or more recently even right from your smartphone with an app like Venmo or CashApp. This is very convenient for the customer, and even more convenient for the bank. When you pay someone else using your bank deposit, all they have to do is lower the number in your account and raise the number in the other person’s account by the amount of the transaction. Quick, easy and convenient for everyone involved.

And if you happen to be paying someone who doesn’t have an account at your bank, that’s no problem either. Your bank will just pay the other person’s bank, and they can then change the number in the other person’s account. Now of course banks want real money for their transactions, not the fake bank deposits the commoners use. Remember the bank reserves I mentioned earlier that are like cash for banks only? Well that’s how banks settle transactions between themselves. All banks have an account at the Fed, and the Fed settles up between banks by changing the number of bank reserves in their respective accounts at the Fed. In essence, the Fed is just a bank for banks, another entity that works just like your local bank, but only holds accounts with banks and governments and not with ordinary people.

This convenience discourages people from withdrawing cash from their bank, since it’s actually easier to use the bank deposits than the cash. Besides that, banks use a lot of arbitrary policies to make it difficult for people to withdraw cash, even if they want to. If you didn’t know that, you’ve probably never tried to take $5,000 in cash out of your bank account. If you do, you’ll probably be asked some irrelevant questions about what you plan to do with the money. That’s if they let you withdraw it at all. Ask for $20,000 and you’ll almost certainly have to schedule an appointment to withdraw it in a few days, after the next cash delivery comes in. Most community bank branches only keep around $75,000 in cash on hand at any given time, so you can see how few withdrawals it would take to completely drain their vault.

But increasingly now, the biggest threat to banks isn’t from people withdrawing cash, it’s from people withdrawing to a different bank. Remember, banks have to settle with each other at the end of the day. And since they won’t accept each other’s sketchy “bank deposits” in payment, they have to settle by transferring balances between their respective reserve balances at the Fed. As you can see, banks have loaned into existence $11.5 trillion more in bank deposits than they hold in bank reserves, so it doesn’t take much withdrawal from one bank to drain their reserve balance to zero and cause the bank to fail. Bank runs have been a recurring problem ever since the entire dishonest fractional reserve banking system began, and even in 2023 a few US banks suffered bank runs and collapsed in some of the biggest bank failures in history.

Why Banking is Legalized Theft

Now that we’ve explained on the most basic level how banks work, let’s briefly explore a few basic implications.

We’ve established that banks create money when they make a loan. How easy would your life be if you could create money at no cost and loan it to people? Is it any wonder that the financial industry is full of extremely wealthy individuals?

Let’s think through for a second why I would categorize what banks do as theft. First off, you need to understand what money is, and more importantly what it is not. I lay out some fundamental principles in this article.

naddr1qvzqqqr4gupzp0rve5f6xtu56djkfkkg7ktr5rtfckpun95rgxaa7futy86npx8yqq247t2dvet9q4tsg4qng36lxe6kc4nftayyy89kua2

Summarized in one sentence, money is a ledger of productive effort with deferred consumption. It represents work someone did for another person, instead of for their own benefit. In a sense, it’s an abstract representation of, or a claim on, the wealth in a society. Having money indicates that you provided value to someone else in the past, and therefore deserve to receive value from someone in the future if you choose to exercise that claim.

Anyone who has money can loan that money to someone. This is a transfer of your claim on wealth to that person. They can then use the money to buy something, and benefit from that loan. But with that type of loan, there is always a tradeoff. The tradeoff is what’s called opportunity cost. While you have the money, you have the option to exercise that claim at any time and buy something you want. If you loan the money to someone, you incur the cost of giving up that option for as long as it takes until the loan is repaid. You already put in the effort to create the wealth that money represents, now you’re sacrificing your opportunity to benefit from that effort by buying something you want.

Bank loans are different. There is no opportunity cost. The bank doesn’t have the money to begin with, because they haven’t put in any effort or created anything of value to deserve it. They just create the money out of thin air. There is no sacrifice on the part of the bank to make that loan possible. They don’t have to forego spending any money to make the loan because the money didn’t exist in the first place.

So when the bank creates money, they’re creating new claims on wealth. Since the bank hasn’t created any wealth, the claims must be claims on wealth that already exists. These new claims have no immediate effect on the people who hold that wealth. Nothing changes for them, the wealth they hold is still theirs as long as they don’t exchange it for money. As long as they don’t sell their wealth, the increase in claims on that wealth changes nothing.

The people who are negatively effected by this increase in money are those who already have money. Since money is a claim on wealth, the value of each unit of money equals [amount of wealth in existence] divided by [amount of money in existence]. Since the amount of wealth has not changed, but the amount of money has increased, the value of existing money falls. More money spread out over the same amount of wealth means each unit of money will buy less wealth. This is what everyone knows as inflation, and as everyone who has experienced it knows, the money they hold as savings or receive as income becomes less valuable the more inflation occurs.

Who benefits from this? Well, the borrower may benefit in some cases. They receive the newly created money and are able to spend it and acquire wealth they haven’t yet put in the effort to produce. So they get to enjoy unearned rewards now. Also, since it takes time for holders of wealth to realize how much inflation has occurred, they will often exchange their wealth for money at a price lower than the increase in money supply would indicate. So the price of a purchased item will often continue to increase after the borrower acquires it, and they benefit from the increase in prices by paying back their loan with money that is less valuable than it was when they borrowed it. Of course the interest charges negate some of the benefit, but often not all of it, so borrowing money can end up being very beneficial to a borrower in many situations.

The biggest beneficiary is the bank itself. They create the money from nothing, with no opportunity cost or sacrifice necessary. In effect, they are able to use the new money to transfer wealth from holders of wealth to borrowers, at the expense of holders of money. And of course as soon as that transfer is complete, the holders of wealth become new holders of money and begin to suffer the effects of inflation too. Meanwhile the bank requires the borrower to repay the loan, with interest attached.

When an individual makes a loan, the interest charged is payment for the opportunity cost of not being able to enjoy the benefits of spending that money now. However for banks, there is no opportunity cost in making a loan. So the bank receives interest as a reward from the borrower for transferring wealth to them at the expense of holders of money. A kind of sharing of the spoils of theft, if you will. Of course they would never describe it that way, but if you understand what’s actually happening it seems like the only accurate explanation.

So we see who gets rewarded by the banking system, and who gets punished. Those who get rewarded are bankers, who collect interest from loaning out money they didn’t actually have, and are able to enrich themselves by spending that collected interest to purchase real wealth. Sometimes borrowers are also rewarded, meaning the people who consume things they haven’t produced by borrowing the money to buy them get to enjoy immediate gratification, and then over a period of time pay back an amount of money that has lost so much value it would no longer be enough to buy the item they have already been enjoying.

And the people who get punished are those who save and hold money. Those people are the ones who produce value and defer consumption, the ones whose pro-social behavior and delayed gratification make capital formation and modern civilization possible.

The purpose and effect of banking, and creation of new money through bank loans, is to redistribute wealth. The incentive structure means access to wealth is stolen from those with the most socially desirable behavior, the most effective producers and most frugal savers who hold money they’ve earned for future use. The stolen wealth is given to those with the least socially desirable behavior, those who consume more than they produce and live beyond their means, being a net detriment to civilization, and to the parasitic banking class who collect interest as a reward for their theft.

The anti-civilizational outcomes of this perverse incentive structure, and the lie it’s built on (“money in the bank is the same as money in your wallet”) have only become more obvious and harder to ignore over the decades. Without a fundamental change to the basic design and function of the modern financial system, expect this trend to continue.

Forewarned is forearmed.

@ 7c765d40:bd121d84

We have crossed another 1,000 blocks!

Time is flying by.

Seems like just yesterday we were in the 872s.

Today we are talking about some of the opportunities ahead in this crazy world of bitcoin.

Let's start with a little exercise.

Woo hoo - just like in grade school.

Take a pen and paper.

Evernote doesn't count.

Think about the industry you work in.

How could bitcoin improve certain aspects of the industry?

Start writing down some ideas on how bitcoin could shake things up.

If you were having a conversation with someone in the industry about bitcoin, what would you tell them?

Think about your suppliers.

Your customers.

Your marketing strategy.

Your investments.

Your capital expenditures.

Your admin team.

Your payroll.

And don't limit your thinking to be payment related.

Bitcoin changes the payment rails but it also changes the mentality, the efficiency, and the time horizons.

Think about the treasury for businesses within the industry.

The wasted resources.

The decision-making process.

The budgets.

My dad and I were talking about a local business and using their services.

We were going to talk to them about bitcoin and how it could improve the way they do business and get new customers.

But then I thought, why bother?

Both of us are very well-versed in this specific industry AND also have the bitcoin knowledge to implement this without friction.

I spend a lot of time on my daily show talking about how we can help other businesses with bitcoin.

But why wouldn't we just do it ourselves instead?

There will be a time and place for both - but when you can do things just as good but have the bitcoin knowledge, it's a no-brainer.

We need to shift the focus from trying to help everyone else.

We need to realize the opportunity here and make some fucking hay.

I know that goes against the bitcoin way of thinking but it's true.

We have to get a little selfish here if we want some influence in the future.

Something to think about anyways.

And if you’re anything like the fella in the photo, you might even need two pens!

---

PROJECT POTENTIAL - You can now find the expanded audio versions of these on the new podcast - Project Potential! I will be sharing the video versions here for the LITF members but you can also find it for free on Spotify and of course Fountain!

Here is the link to Episode 004 on Fountain: https://fountain.fm/episode/r00ZDxpAdfb7QIQT3TKa

---

Have a great day everyone! And remember, the only thing more scarce than bitcoin is time!

Jor

@ 468f729d:5ab4fd5e

```js import dynamic from 'next/dynamic'; import { useEffect } from 'react';

const Button = dynamic( () => import('@getalby/bitcoin-connect-react').then((mod) => mod.Button), { ssr: false, } );

let initialized = false;

export async function initializeBitcoinConnect() { if (!initialized) { const { init } = await import('@getalby/bitcoin-connect-react'); init({ appName: "PlebDevs", filters: ["nwc"], showBalance: false }); initialized = true; } }

const BitcoinConnectButton = () => { useEffect(() => { initializeBitcoinConnect(); }, []);

return ( { console.log('provider:', provider); }} /> ); }

export default BitcoinConnectButton; ```

@ 2063cd79:57bd1320

Ich bin der festen Überzeugung, dass 2023 noch nicht das Jahr sein wird, in dem CBDCs in Europa oder anderen Ländern des globalen Nordens das Tageslicht erblicken werden. Dennoch bin ich überzeugt, dass dieses Thema in 2023 durch vermehrte Prozesse, Rhetorik und Kampagnen weiter in den Mainstream getragen werden wird, um eine unausweichliche Einführung von einer CBDC - zumindest in der Eurozone - vorzubereiten und die Menschen langsam darauf einzustellen. Damit verbundene Themen wie z.B. UBI (Unconditional Basic Income/ Universal Basic Income), also das bedingungslose Grundeinkommen, sowie als Geldwäschegesetze getarnte Einschränkungen des Bargeldverkehrs und andere mit digitalen Zahlungsmitteln verbundene Themen, werden in den Medien vermehrt zu finden sein. Meines Erachtens nach, werden wir all diese Themen auf der einen Seite öfter lesen/hören und auf der anderen Seite wird die Rhetorik gegenüber Bitcoin und anderen Krypto-Assets verschärft werden. Die typischen FUD-Themen werden ad nauseam durch die Medien gejagt, aber auch von Regulatorik wird vermehrt Gebrauch gemacht. Die Regulatorik in Deutschland, Europa, aber auch in den USA, ist bisher weitgehend unklar. An vielen Stellen ist nicht mal klar, welche Agency oder Behörde überhaupt zuständig und handlungsfähig ist, geschweige denn, dass besonders ausgereifte Gesetze existieren. Mit der MiCA (Markets in Crypto-Assets) Verordnung hat die EU einen Schritt nach vorne getan und auch wenn sie erst 2024 in Kraft tritt, stellen sich jetzt schon viele der betroffenen und angesprochenen Gruppen auf die Vorgaben ein. Eine weitere Verordnung, die schon länger besteht, ist die Verordnung (EU) 2015/847 über die Übermittlung von Angaben bei Geldtransfers. Diese regelt die sogenannte Travel Rule, mit der wir uns diese Woche beschäftigen wollen.

---

Zunächst müssen ein paar Begriffe und Buchstabensuppenbehörden erklärt werden.

FATF

Die Financial Action Task Force (FATF) ist ein internationales und Regionen übergreifendes Projekt mit zur Zeit 39 Staaten als Mitgliedern, und deren Standards einzuhalten sich so ziemlich jedes Land der Welt verpflichtet hat. Es ist wichtig zu unterscheiden, dass die FATF keine Organisation ist und damit auch keine juristische Person darstellt, die Regeln oder Gesetze erlassen kann. Die FATF veröffentlicht lediglich Empfehlungen und Standards, die von Staaten übernommen werden. Das selbsterklärte Hauptziel dieses Projekts ist die Bekämpfung von Geldwäsche (AML) und der Finanzierung von Terrorismus (CFT). Die Handhabe der FATF ist demnach recht lose gefasst, sehr weitreichend und das Mandat zeitlich unbefristet. Posten werden vergeben, nicht gewählt, wie sollte es auch anders sein. Die FATF wurde 1989 gegründet und hatte zunächst nur das Ziel Geldwäsche zu bekämpfen, doch seit 9/11 wurde das Mandat um die Bekämpfung von Finanzierung von Terrorismus erweitert, und einhergehend mit dem Patriot Act und anderen freiheitseinschneidenden Gesetzen, hatte auch niemand mehr irgendwelche Vorbehalte gegen Übergriffe auf Privatsphäre und Persönlichkeitsrechte.

FATF Mitglieder

Die Liste der Länder, die keine Lust auf diesen spießigen Club mit seinen strengen Regeln haben, die sogenannten Non-Cooperative Countries and Territories (NCCTs), liest sich wie der Marco Polo Reiseführer für Steuerflüchtlinge und Finanzakkrobaten und führt - wen wunderts - Länder wie die British Virgin Islands, die Kaimaninseln, die Kanalinseln (Guernsey, Isle of Man und Jersey), Liechtenstein, Monaco, Panama, naja und halt eben auch Russland. Die Erfolgsgeschichten der Prävention von nennenswerten Terroranschlägen ist übrigens so lang, wie die Liste von Goldmedaillen des olympischen Eiskunstlaufteams des Sudans.

FinCEN

Das Financial Crimes Enforcement Network (FinCEN) ist eine weitere Nudelbehörde im Geltungsbereich des US amerikanischen Finanzministeriums und beschäftigt sich ausschließlich mit Finanzsystemen, bzw. der Ausnutzung oder der illegalen Nutzung derselben, ist aber auch dem Office of Terrorism and Financial Intelligence (TFI) unterstellt, also auch hier wieder ein Mandat so breit wie der Amazonas.

So, nun kurzer Geschichtsausflug.

Das FinCEN hat im Jahr 1996 die originale Travel Rule erlassen. Diese hieß natürlich nicht offiziell so, aber Bank Secrecy Act (BSA) rule [31 CFR 103.33(g)] ist super sperrig, also bleiben wir bei Travel Rule. Kurz und knapp zusammengefasst besagt dieses Gesetz, dass Finanzinstitute gewisse Informationen an andere Institute weiterleiten müssen, wenn sie durch ihre Dienstleistungen Empfänger (Begünstigter) oder Sender (Auftraggeber) von Zahlungen miteinander verbinden. Diese Informationen beinhalten

beim Versenden:

• Name des Senders
• Kontonummer des Senders, falls verwendet
• Adresse des Senders
• Identität des Finanzinstituts des Senders
• Höhe des Übermittlungsauftrags
• Ausführungsdatum des Übermittlungsauftrags
• Identität des Finanzinstituts des Empfängers;

beim Erhalten:

• Namen des Empfängers
• Adresse des Empfängers
• Kontonummer des Empfängers
• jede andere spezifische Kennung des Empfängers.

Die FATF hat im Jahr 2019 diese originale Travel Rule übernommen und vorgeschlagen, diese Regeln zur Übermittlung von personenbezogenen Daten auf "Virtual Assets" (VA) auszuweiten und damit nicht nur traditionelle Finanzinstitute, sondern auch "Virtual Assets Service Providers" (VASPs) einzubeziehen. Wir sind uns natürlich bewusst, dass sich VAs nur auf Pokedollars, Rupees und V-Bucks beziehen und keineswegs auf Digitale Assets oder Kryptowährungen 😛 - sonst würde man ja von DAs (Digital Assets) sprechen.

Krypto-Travel Rule

Okay, also ernsthaft bedeutet dies im Klartext, dass jede Bitcoin- oder Krypto-Transaktion, die einen bestimmten Schwellenwert überschreitet (in der EU bald 0 EUR - "denn aufgrund der spezifischen Eigenschaften und des Risikoprofils von Krypto-Assets gilt die Informationspflicht für alle Krypto-Asset-Transfers, unabhängig vom Transferwert", mehr dazu später ⬇️), von den persönlichen Daten (personally identifiable information (PII)) des Kunden begleitet werden muss. Wir nutzen hier erstmal weiter den Begriff VASP. VASPs müssen nicht nur die Informationen ihrer eigenen Kunden übermitteln, sondern auch versuchen den/die Empfänger//in oder Sender//in (also die jeweilige Gegenpartei) zu blocken oder zu sanktionieren und einer Due-Diligence-Prüfung zu unterziehen. Kurzum, die FATF findet das Risikoprofil von Krypto super schwierig, darum könnte es sein, dass mein Toni Token, den ich einem Freund schicke, der Finanzierung von internationalem Terrorismus dienen könnte und deshalb muss die Sparkasse Westfalen-Lippe jetzt der Spardabank meines Freundes die Unterwäschengröße meines erstgeborenen Kindes übermitteln. Klingt unmöglich? Ist es auch.

Jetzt denkt der/die kundige Leser//in: "Naja, coole Regel liebe FATF, aber was jucken mich deine Vorgaben? Ich lebe in hier in einem Land und der einzige, der hier Gesetze erlassen kann ist immernoch der Kanzlerin!" Und so - oder so ähnlich - ist es auch, aber wir würden ja nicht im Musterknaben-Regelparadies-Preussland leben, wenn Deutschland nicht als eine der ersten europäischen Jurisdiktionen, die Travel Rule als Gesetz erlassen möchte. Der Gesetzesentwurf des damaligen Finanzministers Olaf Scholz mit dem lässig und digital daherkommenden Namen "Verordnung über verstärkte Sorgfaltspflichten bei dem Transfer von Kryptowerten (kurz: Kryptowertetransferverordnung, noch super-kürzer: KryptoWTransferV)" wurde in 2021 vorgestellt und soll noch 2023 in Kraft treten.

Jetzt fragt sich der/die kundige Leser//in natürlich als nächstes: "Naja, Regel hin oder her, ich hab ja tausende verschiedene Apps, Services, kann von Börsen Geld verschicken, von Wallets auch, kann sogar selber Payment-Channels für Lightning öffnen, eine Node betreiben und Wallets hosten, wie zum Kuckuck finde ich denn raus, wer oder was jetzt ein VASP ist? Oder schlimmer noch, bin ich womöglich selbst einer?"

Ruhig kleiner Otter, hier ist die Definition der FATF:

Ein VASP ist jede natürliche oder juristische Person, die [...] als Unternehmen eine oder mehrere der folgenden Aktivitäten oder Operationen für oder im Namen einer anderen natürlichen oder juristischen Person durchführt:

• Austausch zwischen virtuellen Vermögenswerten und Fiat-Währungen
• Austausch zwischen einer oder mehreren Formen virtueller Vermögenswerte
• Übertragung von virtuellen Vermögenswerten
• Verwahrung und/oder Verwaltung von virtuellen Vermögenswerten oder Instrumenten, die die Kontrolle über virtuelle Vermögenswerte ermöglichen
• Teilnahme an und Erbringung von Finanzdienstleistungen im Zusammenhang mit dem Angebot und/oder dem Verkauf eines virtuellen Vermögenswerts durch einen Emittenten

Also zunächst bezieht sich die Definition nur auf Unternehmen. Dieser Interpretation folgt auch Krypto 👐🏼 Transfer 🖖🏼:

Unternehmen mit Sitz im In- oder Ausland, das in Bezug auf Kryptowerte im In- oder Ausland Bankgeschäfte im Sinne des § 1 Absatz 1 Satz 2 des Kreditwesengesetzes betreibt, Finanzdienstleistungen im Sinne des § 1 Absatz 1a Satz 2 des Kreditwesengesetzes oder Wertpapierdienstleistungen im Sinne des § 2 Absatz 2 bis 4 des Wertpapierinstitutsgesetzes erbringt.

Generell fallen unter die Interpretation von VASPs die folgenden Dienstleistungen: Verwahrung, Mining Pool Anbieter, Anbieter von Wallets (custodial), Broker-Services (inkl. Börsen), Bitcoin ATMs und unter bestimmten Voraussetzungen auch Anbieter von Stablecoins, Anbieter von DeFi-Protokollen und auch dezentralisierte Börsen (DEX). Individuelle Miner, Betreiber von Full-Nodes und Lightning-Routing-Channels sind bisher von der Interpretation ausgeschlossen.

Wohingegen man das Gefühl bekommen könnte, dass Sender//innen und Empfänger//innen der Transaktionen die Leidtragenden der Gesetzesentwürfe sind, kann man doch eigentlich schnell sehen, dass vor allem die Dienstleister eine enorme Last und zusätzliche Arbeit schultern müssen. Auf der einen Seite besteht die Herausforderung, die uneinheitliche Vorgehensweise bei der Umsetzung dieser Verordnung in den verschiedenen Regionen vernünftig zu navigieren, denn die daraus entstehenden Anforderungen unterscheiden sich noch von Land zu Land (ein Pluspunkt für MiCA ⬇️). Aber auch zusätzliche Anforderungen, die über die Beschaffung der PIIs hinausgehen, wie z.B. dass von VASPs erwartet wird, dass sie Informationen über die Quelle und das Ziel von versendeten Krypto-Assets erhalten und speichern, machen das normale Tagesgeschäft um ein vielfaches komplizierter.

Und weil es so schwierig ist die PIIs der Sender//innen (Auftraggeber//innen) und der Empfänger//innen (Begünstigten), geschweige denn die volle Transaktionshistorie der Assets, glaubwürdig und genau abzubilden und zu übermitteln, sieht sogar die FATF ein, dass ein gewisser gesunder Menschenverstand angesetzt werden muss und empfiehlt daher, dass VASPs zunächst die VASPs auf der Gegenseite überprüfen, um zu ermitteln, ob eine Transaktion womöglich Geldwäsche- oder Terrorismusfinanzierungspotential (AML/CFT) birgt.

MiCA

Die sogenannte Markets in Crypto Assets Verordnung ist ein in 2020 vom EU Parlament auf den Weg gebrachtes Gesetz zur Harmonisierung der Regeln in Bezug auf Krypto-Anbieter im europäischen Raum. Die Verordnung soll in 2024 in Kraft treten, doch ein finaler Entwurf liegt bereits vor.

Wie schon erwähnt, sehen die neuen Regeln der EU einen Schwellenwert von 0 EUR vor. Mit anderen Worten, Krypto-Dienstleister, die unter einer EU-Lizenz oder in der EU tätig sind, müssen für alle Transaktionen, unabhängig von ihrer Größe, Informationen zur Identität des Absenders und Empfängers erfassen.

Dabei unterscheidet die EU zwischen "hosted" und "un-hosted" Wallets 🤡. Un-hosted Wallets sind alle Wallets, die privat genutzt werden und self-custodial arbeiten, also sich in der Verwahrung von Privatnutzer//innen befinden, sprich diejenigen Wallets, die jeder nutzen sollte, der keinem Custodian vertrauen möchte.

Überweisungen von oder zu un-hosted Wallets von oder zu einem VASP, oder anderen Finanzdienstleister, müssen ab einem Schwellenwert von 1.000 EUR vom VASP überprüft werden. Dabei muss der VASP auch feststellen, ob diese Wallet dem/der Kund//in tatsächlich gehört oder er/sie dieses kontrolliert. Wenn ja, muss der/die Benutzer//in dies verifizieren. Transaktionen von weniger als 1.000 EUR an oder von einer un-hosted Wallet erfordern keine Überprüfung des Eigentums.

Transaktionen an un-hosted Wallets, die nicht der direkten Kontrolle des/der Benutzers//in unterliegen, müssen in allen Fällen überprüft und personenbezogene Informationen über die Wallet gesammelt werden. Darüber hinaus muss festgestellt werden, ob weitere Maßnahmen erforderlich sind. Das bedeutet, dass der VASP vor der Übertragung der Transaktion ein potentielles AML/CTF Risiko identifizieren, einschätzen und entsprechende Maßnahmen ergreifen muss.

InterVasp, TRUST und Co

Und genau weil es eben so schwierig ist diese unhandlichen Anforderungen umzusetzen, bedeutet dies, dass die gesamte Industrie einen kooperativen Ansatz verfolgen muss, um einen idealen Daten- und Kommunikationsstandard zu finden. Zunächst wurde also ein Konsens über ein einziges Datenübermittlungsformat für alle Travel Rule Anforderungen erzielt. Dieses Format heißt IVMS 101 und wurde von der Joint Working Group on interVASP Messaging Standards (JWG) erlassen.

Gleichermaßen hat Coinbase federführend eine Lösung namens TRUST (Travel Rule Universal Solution Technology) ins Leben gerufen, die nach eigenen Angaben zufolge entwickelt wurde, um die Travel Rule Anforderungen zu erfüllen und gleichzeitig die Sicherheit und Privatsphäre von Kund//innen zu schützen. Dieser Lösung haben sich einige namhafte Finanzdienstleister, Börsen und Krypto-Anbieter, unter anderem BitGo, Bittrex, Circle, Fidelity Digital Assets, Gemini, Kraken und Robinhood, angeschlossen, um einen Industriestandard für die Erfüllung dieser Anforderungen zu schaffen.

https://www.coindesk.com/business/2022/10/31/coinbase-backed-anti-money-laundering-group-expands-into-europe

Aber auch ein von MasterCard übernommenes Unternehmen namens CipherTrace war schnell dabei, einen Standard zu entwickeln, der es Unternehmen erleichtern soll, den Anforderungen gerecht zu werden.

https://bitcoinmagazine.com/business/ciphertrace-unveils-travel-rule-protocol-for-cryptocurrency-businesses

Was anhand der genannten Beispiele recht schnell deutlich wird, ist dass die von der FATF erlassenen Empfehlungen und Standards hauptsächlich dazu führen, dass wieder eine immense Anzahl an personenbezogenen Daten gesammelt werden muss, und dass dieser Mammut-Akt von etablierten, zentral operierenden Unternehmen gesteuert und vereinnahmt wird. Es ist, als würden Tickets gedruckt, um weitere zusätzliche Daten sammeln zu dürfen, und diese Tickets werden natürlich wieder - frei nach dem Cantillon-Effekt - an die am engsten stehenden Unternehmen verteilt.

Und wer die Früchte ernten will, muss auch den Preis dafür bezahlen!

---

Banken und Krypto-Anbieter sollten keine Diebe fangen, das ist Sache der Polizei. Es gilt eigentlich das rechtsstaatliche Grundprinzip der Unschuldsvermutung, also im Zweifel für den Angeklagten, bzw. die Annahme, dass jede/r solange als unschuldig anzusehen ist, bis seine/ihre Schuld nachgewiesen werden kann. Im Falle der Travel Rule und ähnlichen Geldwäschegesetzen und Gesetzen zum Schutz vor Terrorfinanzierung (AML/CFT) wird dieses Prinzip auf den Kopf gestellt.

Millionen von Berichte werden zur Zeit von Finanzdienstleistern und Krypto-Unternehmen an die Aufsichtsbehörden gesendet. Damit geben Unternehmen des privaten Sektors persönliche Informationen über ihre Kund//innen preis, selbst wenn die Transaktionen nur verdächtig sind. Doch was macht eine Transaktion verdächtig? Grenzüberschreitende Transfers, ein Abendessen in einem äthiopischen Restaurant bezahlt mit Karte? Finanzinstituten obliegt es, das Geld zunächst einzufrieren, sozusagen als Lösegeld einzubehalten, bis der/die Kund//in beweisen kann, dass er/sie unschuldig ist, und nicht umgekehrt. Dies stellt eine klare Verletzung des Menschenrechts dar. Regeln, wie die Travel Rule, verletzen gesellschaftliche Prinzipien, indem sie Menschen ihre Rechte kategorisch verweigern, nur um ein sehr kleines potentielles Risiko zu vermeiden.

Und wer definiert einen Terroristen? Im Iran unterscheidet sich die Definition von jemandem, der den Staat bedroht, erheblich von dem, was andere Länder als einen terroristischen Akt definieren würden. In unseren Breitengraden sind solche Regeln und Gesetze nur so lange zumindest unbedrohlich für das eigene körperliche Wohl, solange die Kontrollinstanz auf rechtsstaatlichen Grundwerten aufgebaut ist. Sobald dies kippt, hat der Staat eine sehr gefährliche Waffe zur Hand.

🫳🎤

---

In diesem Sinne, 2... 1... Risiko!‌

@ 59cfee8f:7598a483

Yakihonne's Innovative Approach to Bitcoin Adoption

Introduction

The Bitcoin landscape is constantly evolving, and community plays a vital role in shaping its future. Yakihonne, a cutting-edge platform, is harnessing the power of community to drive Bitcoin adoption and education. In this article, we will explore Yakihonne's innovative approach and its impact on the Bitcoin ecosystem.

The Yakihonne Difference

Yakihonne distinguishes itself by recognizing every user as a unique node in the Bitcoin network. This perspective empowers individuals to take an active role in shaping the community and contributing to its growth. By fostering connections and knowledge sharing, Yakihonne creates a supportive environment where users can thrive.

Key Features and Benefits

• Decentralized knowledge sharing: Yakihonne's platform allows users to access and share valuable resources, promoting a deeper understanding of Bitcoin and its applications.

• Community-driven support: Users can engage with others, ask questions, and receive guidance from experienced community members.

• Incentivized learning: Yakihonne's gamification elements make learning about Bitcoin engaging and fun, encouraging users to expand their knowledge.

• Responsible adoption: The platform emphasizes security, privacy, and informed decision-making, ensuring sustainable growth.

The Future of Bitcoin Adoption

Yakihonne's community-centric approach is poised to revolutionize Bitcoin adoption. By leveraging the power of social nodes, Yakihonne creates a snowball effect, where knowledge and enthusiasm spread exponentially. As the platform continues to evolve, it's likely to play a significant role in shaping the future of Bitcoin.

Conclusion

Yakihonne is a game-changer in the Bitcoin space, offering a unique blend of community engagement, education, and support. By joining the Yakihonne community, individuals can tap into the collective power of social nodes, contributing to a brighter future for Bitcoin adoption. Embrace the potential of Yakihonne and be part of this exciting journey!

@ 59cfee8f:7598a483

Yakihonne's Innovative Approach to Bitcoin Adoption

Introduction

The Bitcoin landscape is constantly evolving, and community plays a vital role in shaping its future. Yakihonne, a cutting-edge platform, is harnessing the power of community to drive Bitcoin adoption and education. In this article, we will explore Yakihonne's innovative approach and its impact on the Bitcoin ecosystem.

The Yakihonne Difference

Yakihonne distinguishes itself by recognizing every user as a unique node in the Bitcoin network. This perspective empowers individuals to take an active role in shaping the community and contributing to its growth. By fostering connections and knowledge sharing, Yakihonne creates a supportive environment where users can thrive.

Key Features and Benefits

• Decentralized knowledge sharing: Yakihonne's platform allows users to access and share valuable resources, promoting a deeper understanding of Bitcoin and its applications.

• Community-driven support: Users can engage with others, ask questions, and receive guidance from experienced community members.

• Incentivized learning: Yakihonne's gamification elements make learning about Bitcoin engaging and fun, encouraging users to expand their knowledge.

• Responsible adoption: The platform emphasizes security, privacy, and informed decision-making, ensuring sustainable growth.

The Future of Bitcoin Adoption

Yakihonne's community-centric approach is poised to revolutionize Bitcoin adoption. By leveraging the power of social nodes, Yakihonne creates a snowball effect, where knowledge and enthusiasm spread exponentially. As the platform continues to evolve, it's likely to play a significant role in shaping the future of Bitcoin.

Conclusion

Yakihonne is a game-changer in the Bitcoin space, offering a unique blend of community engagement, education, and support. By joining the Yakihonne community, individuals can tap into the collective power of social nodes, contributing to a brighter future for Bitcoin adoption. Embrace the potential of Yakihonne and be part of this exciting journey!

@ 59cfee8f:7598a483

Yakihonne's Innovative Approach to Bitcoin Adoption

Introduction

The Bitcoin landscape is constantly evolving, and community plays a vital role in shaping its future. Yakihonne, a cutting-edge platform, is harnessing the power of community to drive Bitcoin adoption and education. In this article, we will explore Yakihonne's innovative approach and its impact on the Bitcoin ecosystem.

The Yakihonne Difference

Yakihonne distinguishes itself by recognizing every user as a unique node in the Bitcoin network. This perspective empowers individuals to take an active role in shaping the community and contributing to its growth. By fostering connections and knowledge sharing, Yakihonne creates a supportive environment where users can thrive.

Key Features and Benefits

• Decentralized knowledge sharing: Yakihonne's platform allows users to access and share valuable resources, promoting a deeper understanding of Bitcoin and its applications.

• Community-driven support: Users can engage with others, ask questions, and receive guidance from experienced community members.

• Incentivized learning: Yakihonne's gamification elements make learning about Bitcoin engaging and fun, encouraging users to expand their knowledge.

• Responsible adoption: The platform emphasizes security, privacy, and informed decision-making, ensuring sustainable growth.

The Future of Bitcoin Adoption

Yakihonne's community-centric approach is poised to revolutionize Bitcoin adoption. By leveraging the power of social nodes, Yakihonne creates a snowball effect, where knowledge and enthusiasm spread exponentially. As the platform continues to evolve, it's likely to play a significant role in shaping the future of Bitcoin.

Conclusion

Yakihonne is a game-changer in the Bitcoin space, offering a unique blend of community engagement, education, and support. By joining the Yakihonne community, individuals can tap into the collective power of social nodes, contributing to a brighter future for Bitcoin adoption. Embrace the potential of Yakihonne and be part of this exciting journey!

@ 59cfee8f:7598a483

Yakihonne's Innovative Approach to Bitcoin Adoption

Introduction

The Bitcoin landscape is constantly evolving, and community plays a vital role in shaping its future. Yakihonne, a cutting-edge platform, is harnessing the power of community to drive Bitcoin adoption and education. In this article, we will explore Yakihonne's innovative approach and its impact on the Bitcoin ecosystem.

The Yakihonne Difference

Yakihonne distinguishes itself by recognizing every user as a unique node in the Bitcoin network. This perspective empowers individuals to take an active role in shaping the community and contributing to its growth. By fostering connections and knowledge sharing, Yakihonne creates a supportive environment where users can thrive.

Key Features and Benefits

• Decentralized knowledge sharing: Yakihonne's platform allows users to access and share valuable resources, promoting a deeper understanding of Bitcoin and its applications.

• Community-driven support: Users can engage with others, ask questions, and receive guidance from experienced community members.

• Incentivized learning: Yakihonne's gamification elements make learning about Bitcoin engaging and fun, encouraging users to expand their knowledge.

• Responsible adoption: The platform emphasizes security, privacy, and informed decision-making, ensuring sustainable growth.

The Future of Bitcoin Adoption

Yakihonne's community-centric approach is poised to revolutionize Bitcoin adoption. By leveraging the power of social nodes, Yakihonne creates a snowball effect, where knowledge and enthusiasm spread exponentially. As the platform continues to evolve, it's likely to play a significant role in shaping the future of Bitcoin.

Conclusion

Yakihonne is a game-changer in the Bitcoin space, offering a unique blend of community engagement, education, and support. By joining the Yakihonne community, individuals can tap into the collective power of social nodes, contributing to a brighter future for Bitcoin adoption. Embrace the potential of Yakihonne and be part of this exciting journey!

@ 59cfee8f:7598a483

Yakihonne's Innovative Approach to Bitcoin Adoption

Introduction

The Bitcoin landscape is constantly evolving, and community plays a vital role in shaping its future. Yakihonne, a cutting-edge platform, is harnessing the power of community to drive Bitcoin adoption and education. In this article, we will explore Yakihonne's innovative approach and its impact on the Bitcoin ecosystem.

The Yakihonne Difference

Yakihonne distinguishes itself by recognizing every user as a unique node in the Bitcoin network. This perspective empowers individuals to take an active role in shaping the community and contributing to its growth. By fostering connections and knowledge sharing, Yakihonne creates a supportive environment where users can thrive.

Key Features and Benefits

• Decentralized knowledge sharing: Yakihonne's platform allows users to access and share valuable resources, promoting a deeper understanding of Bitcoin and its applications.

• Community-driven support: Users can engage with others, ask questions, and receive guidance from experienced community members.

• Incentivized learning: Yakihonne's gamification elements make learning about Bitcoin engaging and fun, encouraging users to expand their knowledge.

• Responsible adoption: The platform emphasizes security, privacy, and informed decision-making, ensuring sustainable growth.

The Future of Bitcoin Adoption

Yakihonne's community-centric approach is poised to revolutionize Bitcoin adoption. By leveraging the power of social nodes, Yakihonne creates a snowball effect, where knowledge and enthusiasm spread exponentially. As the platform continues to evolve, it's likely to play a significant role in shaping the future of Bitcoin.

Conclusion

Yakihonne is a game-changer in the Bitcoin space, offering a unique blend of community engagement, education, and support. By joining the Yakihonne community, individuals can tap into the collective power of social nodes, contributing to a brighter future for Bitcoin adoption. Embrace the potential of Yakihonne and be part of this exciting journey!

@ 59cfee8f:7598a483

Yakihonne's Innovative Approach to Bitcoin Adoption

Introduction

The Bitcoin landscape is constantly evolving, and community plays a vital role in shaping its future. Yakihonne, a cutting-edge platform, is harnessing the power of community to drive Bitcoin adoption and education. In this article, we will explore Yakihonne's innovative approach and its impact on the Bitcoin ecosystem.

The Yakihonne Difference

Yakihonne distinguishes itself by recognizing every user as a unique node in the Bitcoin network. This perspective empowers individuals to take an active role in shaping the community and contributing to its growth. By fostering connections and knowledge sharing, Yakihonne creates a supportive environment where users can thrive.

Key Features and Benefits

• Decentralized knowledge sharing: Yakihonne's platform allows users to access and share valuable resources, promoting a deeper understanding of Bitcoin and its applications.

• Community-driven support: Users can engage with others, ask questions, and receive guidance from experienced community members.

• Incentivized learning: Yakihonne's gamification elements make learning about Bitcoin engaging and fun, encouraging users to expand their knowledge.

• Responsible adoption: The platform emphasizes security, privacy, and informed decision-making, ensuring sustainable growth.

The Future of Bitcoin Adoption

Yakihonne's community-centric approach is poised to revolutionize Bitcoin adoption. By leveraging the power of social nodes, Yakihonne creates a snowball effect, where knowledge and enthusiasm spread exponentially. As the platform continues to evolve, it's likely to play a significant role in shaping the future of Bitcoin.

Conclusion

Yakihonne is a game-changer in the Bitcoin space, offering a unique blend of community engagement, education, and support. By joining the Yakihonne community, individuals can tap into the collective power of social nodes, contributing to a brighter future for Bitcoin adoption. Embrace the potential of Yakihonne and be part of this exciting journey!

@ 59cfee8f:7598a483

Yakihonne's Innovative Approach to Bitcoin Adoption

Introduction

The Bitcoin landscape is constantly evolving, and community plays a vital role in shaping its future. Yakihonne, a cutting-edge platform, is harnessing the power of community to drive Bitcoin adoption and education. In this article, we will explore Yakihonne's innovative approach and its impact on the Bitcoin ecosystem.

The Yakihonne Difference

Yakihonne distinguishes itself by recognizing every user as a unique node in the Bitcoin network. This perspective empowers individuals to take an active role in shaping the community and contributing to its growth. By fostering connections and knowledge sharing, Yakihonne creates a supportive environment where users can thrive.

Key Features and Benefits

• Decentralized knowledge sharing: Yakihonne's platform allows users to access and share valuable resources, promoting a deeper understanding of Bitcoin and its applications.

• Community-driven support: Users can engage with others, ask questions, and receive guidance from experienced community members.

• Incentivized learning: Yakihonne's gamification elements make learning about Bitcoin engaging and fun, encouraging users to expand their knowledge.

• Responsible adoption: The platform emphasizes security, privacy, and informed decision-making, ensuring sustainable growth.

The Future of Bitcoin Adoption

Yakihonne's community-centric approach is poised to revolutionize Bitcoin adoption. By leveraging the power of social nodes, Yakihonne creates a snowball effect, where knowledge and enthusiasm spread exponentially. As the platform continues to evolve, it's likely to play a significant role in shaping the future of Bitcoin.

Conclusion

Yakihonne is a game-changer in the Bitcoin space, offering a unique blend of community engagement, education, and support. By joining the Yakihonne community, individuals can tap into the collective power of social nodes, contributing to a brighter future for Bitcoin adoption. Embrace the potential of Yakihonne and be part of this exciting journey!

@ 59cfee8f:7598a483

Yakihonne's Innovative Approach to Bitcoin Adoption

Introduction

The Bitcoin landscape is constantly evolving, and community plays a vital role in shaping its future. Yakihonne, a cutting-edge platform, is harnessing the power of community to drive Bitcoin adoption and education. In this article, we will explore Yakihonne's innovative approach and its impact on the Bitcoin ecosystem.

The Yakihonne Difference

Yakihonne distinguishes itself by recognizing every user as a unique node in the Bitcoin network. This perspective empowers individuals to take an active role in shaping the community and contributing to its growth. By fostering connections and knowledge sharing, Yakihonne creates a supportive environment where users can thrive.

Key Features and Benefits

• Decentralized knowledge sharing: Yakihonne's platform allows users to access and share valuable resources, promoting a deeper understanding of Bitcoin and its applications.

• Community-driven support: Users can engage with others, ask questions, and receive guidance from experienced community members.

• Incentivized learning: Yakihonne's gamification elements make learning about Bitcoin engaging and fun, encouraging users to expand their knowledge.

• Responsible adoption: The platform emphasizes security, privacy, and informed decision-making, ensuring sustainable growth.

The Future of Bitcoin Adoption

Yakihonne's community-centric approach is poised to revolutionize Bitcoin adoption. By leveraging the power of social nodes, Yakihonne creates a snowball effect, where knowledge and enthusiasm spread exponentially. As the platform continues to evolve, it's likely to play a significant role in shaping the future of Bitcoin.

Conclusion

Yakihonne is a game-changer in the Bitcoin space, offering a unique blend of community engagement, education, and support. By joining the Yakihonne community, individuals can tap into the collective power of social nodes, contributing to a brighter future for Bitcoin adoption. Embrace the potential of Yakihonne and be part of this exciting journey!

@ 502ab02a:a2860397

แนวคิด : เชียงใหม่มีช้างเป็นสัญลักษณ์เหมือนกัน แต่ใช้ช้างไปกับสุพรรณบุรีแล้ว ตอนแรกมองสถานที่ท่องเที่ยวไม่ว่าจะภูเขา แม่กำปอง บ่อน้ำร้อน ร่มบ่อสร้าง แคบหมู ก็ยังไม่ชัดเจนเท่า ประตูท่าแพ ซึ่งความตั้งใจแรกคือไม่อยากเอาโบราณสถานหรือพุทธศาสนสถาน มาเล่นโปรเจคนี้ แต่ก็พบว่าน่าจะยาก ฮา ฮา ฮา ด้วยที่ค้นคว้าเพิ่มเติมเรื่องประตูท่าแพ พบว่าเป็นสิ่งก่อสร้างใหม่ เพิ่งสร้างมาประมาณ 30ปี อีกทั้งเป็นแลนด์มาร์ค ที่นักท่องเที่ยวรู้จัก ก็เลยนำมาใช้ในงานครั้งนี้

Link Download : https://drive.google.com/drive/folders/1VuVIhp3JRvCKwiTqmpkn_jJaeYLMyt6w?usp=sharing

Concept: Chiang Mai also has elephants as a symbol, but elephants have already been used to represent Suphanburi. Initially, I considered other attractions, such as mountains, Mae Kampong, hot springs, Bo Sang umbrellas, or even crispy pork rind. However, none of these felt as distinctive as Tha Phae Gate. Originally, I didn’t want to use ancient landmarks or Buddhist sites for this project, but it turned out to be challenging—haha. Upon further research into Tha Phae Gate, I found out that it’s a relatively modern structure, built only about 30 years ago. Moreover, it’s a well-known landmark among tourists, so I decided to feature it in this project.

Link Download : https://drive.google.com/drive/folders/1VuVIhp3JRvCKwiTqmpkn_jJaeYLMyt6w?usp=sharing

@ 1b328cb8:36baf278

Like many others, I am still navigating my path toward a Bitcoin circular economy. While I’ve earned my first sats, building a sustainable livelihood solely from Bitcoin remains a work in progress. At the same time, my enthusiasm for working in a fiat-centered world diminishes daily.

This reflection is not only about my personal journey but also the broader question of how people worldwide can transition into a Bitcoin-based economy. Here, I’ll share my thoughts on adoption, the narratives shaping Bitcoin’s role, and how individuals like us can contribute to this shift.

Digital Capital vs. Peer-to-Peer Payments

A key debate in the Bitcoin space centers on two narratives: Bitcoin as "digital capital" and Bitcoin as a peer-to-peer payment system. Michael Saylor has championed the digital capital narrative, especially among institutions, but this focus has drawn criticism for overshadowing Bitcoin’s origins as a payment network.

As a former entrepreneur and sales professional, I see value in both perspectives but also pitfalls if one dominates. 1. The Value of Digital Capital: The concept of Bitcoin as "digital capital" is a powerful one, and Saylor deserves credit for popularizing it. Capital represents the sacrifices that drive progress, and Bitcoin, as hard money, is 100% capital—unlike fiat, which is 100% liability. This distinction is critical and deserves recognition. 3. The Danger of Custodial Sirens: However, the digital capital narrative risks losing a vital part of Bitcoin’s ethos: self-custody. When institutions like MicroStrategy rely on custodians to hold their Bitcoin, they reduce it to a liability. The old adage rings true: Not your keys, not your coins. Without self-custody, the foundation of Bitcoin’s value—its decentralization and trustless nature—weakens.

Takeaway: Bitcoin can be both digital capital and a peer-to-peer payment system, but only if self-custody remains central to its adoption.

Grassroots Adoption: The Power of Peer-to-Peer

Bitcoin adoption is thriving where people need it most—regions like South America and Africa, where fiat currencies often fail. In these places, Bitcoin’s peer-to-peer nature is not just a feature; it’s a lifeline. In contrast, adoption in Western countries faces challenges. Regions like Finland, once pioneers in Bitcoin payments, have lost momentum. The average person here is more likely to chase “the next Bitcoin” or other tech trends than to understand what truly sets Bitcoin apart.

Self-Custody Is Key: What differentiates Bitcoin is self-custody. This encourages users to care about decentralization and peer-to-peer networks. Without it, Bitcoin risks becoming just another centralized asset.

The Path Forward:

To make Bitcoin more tangible and legitimate in everyday life, we need to connect it to real goods and services. When people see “Bitcoin Accepted Here” signs, they perceive it as real money. The solution is simple but powerful: * Start selling products and services in Bitcoin. * Create and support marketplaces—both local and global—that use Bitcoin as their primary medium of exchange.

These changes won’t happen overnight, but they will grow naturally as demand increases. Each step we take helps build the circular economy we envision.

Final Thoughts

Bitcoin adoption requires action. Whether you’re offering goods, services, or simply holding sats in self-custody, every step counts. It’s better to do something small today than to wait for a perfect system tomorrow.

Let’s chip away at the fiat mindset, one sat at a time.

Thank you for reading!

Sophos

P.S.

Looking for original Bitcoin content, marketing copy, or creative writing? I’m a pen-for-hire with three books under my belt and a background in sales and marketing. I’d be happy to help bring your ideas to life—paid in sats, of course.