@ 23b0e2f8:d8af76fc

## **Necessário** - Um Android que você não use mais (a câmera deve estar funcionando). - Um cartão microSD (opcional, usado apenas uma vez). - Um dispositivo para acompanhar seus fundos (provavelmente você já tem um). ## **Algumas coisas que você precisa saber** - O dispositivo servirá como um assinador. Qualquer movimentação só será efetuada após ser assinada por ele. - O cartão microSD será usado para transferir o APK do Electrum e garantir que o aparelho não terá contato com outras fontes de dados externas após sua formatação. Contudo, é possível usar um cabo USB para o mesmo propósito. - A ideia é deixar sua chave privada em um dispositivo offline, que ficará desligado em 99% do tempo. Você poderá acompanhar seus fundos em outro dispositivo conectado à internet, como seu celular ou computador pessoal. --- ## **O tutorial será dividido em dois módulos:** - Módulo 1 - Criando uma carteira fria/assinador. - Módulo 2 - Configurando um dispositivo para visualizar seus fundos e assinando transações com o assinador. --- ## **No final, teremos:** - Uma carteira fria que também servirá como assinador. - Um dispositivo para acompanhar os fundos da carteira.  --- ## **Módulo 1 - Criando uma carteira fria/assinador** 1. Baixe o APK do Electrum na aba de **downloads** em <https://electrum.org/>. Fique à vontade para [verificar as assinaturas](https://electrum.readthedocs.io/en/latest/gpg-check.html) do software, garantindo sua autenticidade. 2. Formate o cartão microSD e coloque o APK do Electrum nele. Caso não tenha um cartão microSD, pule este passo.  3. Retire os chips e acessórios do aparelho que será usado como assinador, formate-o e aguarde a inicialização.  4. Durante a inicialização, pule a etapa de conexão ao Wi-Fi e rejeite todas as solicitações de conexão. Após isso, você pode desinstalar aplicativos desnecessários, pois precisará apenas do Electrum. Certifique-se de que Wi-Fi, Bluetooth e dados móveis estejam desligados. Você também pode ativar o **modo avião**.\ *(Curiosidade: algumas pessoas optam por abrir o aparelho e danificar a antena do Wi-Fi/Bluetooth, impossibilitando essas funcionalidades.)*  5. Insira o cartão microSD com o APK do Electrum no dispositivo e instale-o. Será necessário permitir instalações de fontes não oficiais.  6. No Electrum, crie uma carteira padrão e gere suas palavras-chave (seed). Anote-as em um local seguro. Caso algo aconteça com seu assinador, essas palavras permitirão o acesso aos seus fundos novamente. *(Aqui entra seu método pessoal de backup.)*  --- ## **Módulo 2 - Configurando um dispositivo para visualizar seus fundos e assinando transações com o assinador.** 1. Criar uma carteira **somente leitura** em outro dispositivo, como seu celular ou computador pessoal, é uma etapa bastante simples. Para este tutorial, usaremos outro smartphone Android com Electrum. Instale o Electrum a partir da aba de downloads em <https://electrum.org/> ou da própria Play Store. *(ATENÇÃO: O Electrum não existe oficialmente para iPhone. Desconfie se encontrar algum.)* 2. Após instalar o Electrum, crie uma carteira padrão, mas desta vez escolha a opção **Usar uma chave mestra**.  3. Agora, no assinador que criamos no primeiro módulo, exporte sua chave pública: vá em **Carteira &gt; Detalhes da carteira &gt; Compartilhar chave mestra pública**.  4. Escaneie o QR gerado da chave pública com o dispositivo de consulta. Assim, ele poderá acompanhar seus fundos, mas sem permissão para movimentá-los. 5. Para receber fundos, envie Bitcoin para um dos endereços gerados pela sua carteira: **Carteira &gt; Addresses/Coins**. 6. Para movimentar fundos, crie uma transação no dispositivo de consulta. Como ele não possui a chave privada, será necessário assiná-la com o dispositivo assinador.  7. No assinador, escaneie a transação não assinada, confirme os detalhes, assine e compartilhe. Será gerado outro QR, desta vez com a transação já assinada.  8. No dispositivo de consulta, escaneie o QR da transação assinada e transmita-a para a rede. --- ## **Conclusão** **Pontos positivos do setup:** - **Simplicidade:** Basta um dispositivo Android antigo. - **Flexibilidade:** Funciona como uma ótima carteira fria, ideal para holders. **Pontos negativos do setup:** - **Padronização:** Não utiliza seeds no padrão BIP-39, você sempre precisará usar o electrum. - **Interface:** A aparência do Electrum pode parecer antiquada para alguns usuários. Nesse ponto, temos uma carteira fria que também serve para assinar transações. O fluxo de assinar uma transação se torna: ***Gerar uma transação não assinada &gt; Escanear o QR da transação não assinada &gt; Conferir e assinar essa transação com o assinador &gt; Gerar QR da transação assinada &gt; Escanear a transação assinada com qualquer outro dispositivo que possa transmiti-la para a rede.*** Como alguns devem saber, uma transação assinada de Bitcoin é praticamente impossível de ser fraudada. Em um cenário catastrófico, você pode mesmo que sem internet, repassar essa transação assinada para alguém que tenha acesso à rede por qualquer meio de comunicação. Mesmo que não queiramos que isso aconteça um dia, esse setup acaba por tornar essa prática possível. ---

@ 7ed7d5c3:6927e200

Can't decide if the terrible book you just read is a 1 or 1.5 star book? Look no further than this chart. Was it Shit or just Bad? Was that movie you watched Very Good or just Decent? How many things out there are really Life Changing? Finally, a rating scale for humans. Use it for anything in your life that needs a rating out of 5 stars. Rating / Description 0.5 – The worst 1.0 – Shit 1.5 – Bad 2.0 – Eh 2.5 – Entertaining, but not great 3.0 – Neutral 3.5 – Alright 4.0 – Decent 4.5 – Very good 5.0 – Life Changing P.S. Do not use it to rate your wife's cooking. The author is not liable for any damages.

@ 2063cd79:57bd1320

### Unit-Bias Bitcoin hat in der öffentlichen Wahrnehmung und bei Menschen, die sich weniger mit dem Thema befassen, einen sogenannten Unit-Bias, also eine durch Unwissenheit hervorgerufene Voreingenommenheit gegenüber der Einheit "Bitcoin". Das bedeutet, dass viele unerfahrene Anleger//innen und Nutzer//innen der Meinung sind, dass der Besitz eines ganzen bitcoins psychologisch wichtig oder überhaupt nur als solcher möglich ist. Anders ausgedrückt, glauben viele Menschen, sie müssen Bitcoin als Ganzes kaufen, also einen ganzen "physischen" bitcoin, statt kleinerer Bruchstücke. Das lässt den Vermögenswert für die meisten zu teuer aussehen. Dies ist für Bitcoin insofern ein Problem, als dass viele Menschen sich durch ihre Voreingenommenheit gar nicht mit Bitcoin beschäftigen ("kann ich mir nicht leisten") oder das Gefühl haben, Bitcoin sei zu teuer und deshalb gibt es kein Wertsteigerungspotential mehr ("der Zug ist abgefahren, ich hätte vor sechs Jahren investieren sollen"). Schlimmer noch, als sich nicht mit Bitcoin zu beschäftigen, ist sich dann stattdessen alternativen, "erschwinglicheren" Kryptowährungen zuzuwenden. Dieser Unit-Bias ist allerdings nichts anderes als ein Marketing-, bzw. ein Bildungsproblem. Denn wie wir wissen kann man Bitcoin in 100 Millionen Untereinheiten brechen und in kleinsten Mengen erwerben, verschicken und verkaufen. Doch haben Außenstehende von Begriffen wie Lightning oder Sats meistens noch nie gehört. ### Untereinheiten Doch auch innerhalb der Bitcoin-Szene ist die Unterteilung von Bitcoin in Untereinheiten nicht ganz unumstritten. Denn viele Nutzer//innen sind sich uneinig darüber, was der beste Weg ist, Bitcoins Untereinheiten zu bezeichnen und sogar darzustellen. Dies zeigt sich z.B. darin, dass Apps oft entweder Bitcoin oder Fiat anzeigen, manche Apps aber auch Beträge in Sats darstellen. Dies verlangt aber oft eigene Einstellungen innerhalb der App oder viele Klicks, die die Bedienung und Darstellung eher unhandlich gestalten. Es gibt verschiedene Lösungsansätze, die dem/der Nutzer//in die ungewohnte Rechnung mit acht Nachkommastellen erleichtern sollen. Denn viele Anwender//innen denken beim Blick in ihre Wallets oft noch in lokalen Fiat-Werten, also in ganzen Einheiten (z.B. Euro oder Dollar) und Hundertsteln (z.B. Cents). Einige Wallets versuchen diesen Spagat komplett zu umgehen, indem sie vermeiden, Beträge in Fiat darzustellen. Doch auch hier bleibt immer noch das Problem der unhandlichen Darstellung von acht Nachkommastellen, weshalb einige Anbieter einfach zwei Eingabemöglichkeiten bieten und den Betrag in Bitcoin oder Sats automatisch umrechnen. Doch selbst das Zeichen für Sats ist nicht final geklärt. Es gibt viele verschiedene Vorschläge und Meinungen dazu, welches Symbol genutzt werden sollte. Die meisten Apps, Rechnungen und Sticker schreiben einfach das Wort "Sats" oder "sats" aus. Allerdings ist dies ein Problem, da außerhalb der Bitcoin-Szene niemand weiß, was ein Sat ist. Die meisten Menschen werden mittlerweile von Bitcoin gehört haben, auch wenn sie nicht wissen, wie es funktioniert, was es bedeutet, oder wie man damit umgeht. Doch auch das B Logo mit den Dollarstrichen (₿) werden die meisten Menschen zuordnen können. Sats hingegen ist ein sehr nischiger Begriff und seine Verwendung noch unbekannter. Oft wird das Blitzsymbol (3 auf der unteren Grafik) verwendet, um Lightning darzustellen und auch das Symbol mit den drei horizontalen Strichen und zwei vertikalen Punkten (4 auf der unteren Grafik), das entfernt an das Dollar-Zeichen erinnern soll ($), erfreut sich immer größerer Beliebtheit. Das Problem dabei ist nur, dass es sich in geschriebener Form nicht, oder nur unzulänglich darstellen lässt: 丰 🤡 Es war lange logisch und notwendig, ganze Bitcoins zur Aufzählung und Bezahlung zu verwenden, da bei der Einführung von Bitcoin sein Geldwert sehr gering war. Es bestand also absolut keine Notwendigkeit dazu, in kleineren Einheiten als Bitcoin zu denken. Einfaches Beispiel: letzte Woche, am 22. Mai, jährte sich der Bitcoin-Pizza-Day zum 13. Mal, also jener Tag an dem Laszlo Hanyecz für zwei Pizza 10.000 bitcoins bezahlte und damit die erste offline Transaktion mit Bitcoin tätigte. 10.000 bitcoins entsprachen zu diesem Zeitpunkt also knapp $40, oder andersrum $1 entsprach 250 bitcoins Es gab also immer noch keine Notwendigkeit, kleinere Einheiten von Bitcoin zu verwenden. Diese Notwendigkeit ergab sich erst, als der Bitcoin und der Dollar Parität erlangten (1 Bitcoin = $1) und spätestens, als Bitcoin die Marke von $100 durchbrach, wurde rechnen in Bitcoin schwieriger. Fortan überlegte man sich, Bitcoin in kleineren Einheiten darzustellen. Die zwei Möglichkeiten sind der Bit und der Sat. Ein einzelner bitcoin kann in 1.000.000 Bits oder bis zu 100.000.000 Sats unterteilt werden, also 100 Sats = 1 Bit = 0,000001 Bitcoin. Ein weiterer Grund, weshalb eine Stückelung in bitcoin (der Begriff für einen ganzen physischen bitcoin) schwierig und verwirrend ist, und deshalb viele nach einer alternativen Bezeichnung für Untereinheiten suchten, ist dass darüber hinaus "Bitcoin" zur Beschreibung von zwei Dingen verwendet werden kann: dem monetären Netzwerk (Bitcoin - großes B) und dem monetären Vermögenswert (bitcoin - kleines B). Bitcoin, der Vermögenswert, ist für diejenigen, die noch nichts damit zu tun hatten, sowohl verwirrend als auch fremd. Denn wie bereits erwähnt, führt der Unit-Bias dazu, dass viele Menschen denken, dass sie es sich nicht leisten können, Bitcoin zu kaufen, oder dass sie den Anschluss verpasst haben. Die Verwendung einer Bepreisung in Bruchteilen würde die Verwirrung über die Benennung des Netzwerks und des Vermögenswerts verringern, aber auch die psychologische Hürde für den Einstieg in Bitcoin senken. Vorausgesetzt, die Benennung ist logisch und intuitiv. ### Bits vs. Sats Wie schon erwähnt, gibt es zwei gängige Untereinheiten von Bitcoin, 1 Bit (= 0,000001 Bitcoin) und 1 Sat (0,00000001 Bitcoin). Seit jeher gibt es Diskussionen darüber, welche der beiden Einheiten für den täglichen Gebrauch die vernünftigere und intuitivere ist. Die Verwendung von Bits zur Aufzählung von Bitcoin hat einige Vorteile. Ein Bit stellt ein „Bit“ eines Bitcoins dar, also der grundlegendsten und kleinsten Informationseinheit in der Informatik. Den meisten Menschen fällt es einfacher, das Wort „Bit“ mit Bitcoin zu assoziieren und daher verstehen sie eher, dass ein Bit ein Teil eines Bitcoins ist. Ein „Sat“ bedeutet für den Durchschnittsmenschen, wie oben beschrieben, nichts. Adam Back (CEO von Blockstream und Bitcoin-Legende) ist wahrscheinlich der bekannteste Befürworter von Bits &gt; Sats. Er argumentiert von verschiedenen Richtungen, dass z.B. Bits eine rechnerisch einfachere Variante ist, Untereinheiten von Bitcoin darzustellen, als Sats. Weiter argumentiert er mit der historischen Entwicklung von Bitcoin, dem Protokoll und seiner Referenz-Implementierung. In den Anfangsjahren wurde in der Bitcoin Core Wallet mit Bits gearbeitet. Außerdem argumentiert er, dass die Verbindung zwischen Bitcoin der Haupteinheit und Bits oder Sats als Untereinheit zumindest semantisch gebrochen werden sollte. Da Bitcoin (im Fall eines weiter steigenden Kurses) als Recheneinheit immer unpraktischer wird, sollte man als mentales Modell auf das Rechenpaar Bits und Sats zurückgreifen - analog zur Darstellung von Dollars und Cents oder Euros und Cents. Dabei stellen die zwei Nachkommastellen eines in Bits angegebenen Preises die Sats dar. Ganz einfaches Beispiel: Ein Kasten Bier kostet heute etwas 20€, also 0,00079758 Bitcoin. Einfacher dargestellt: 797,58 Bits, also 797 Bits und 58 Sats. “Ein Bitcoin ist zu teuer, aber Sats sind zu viele, klingen billig und verwirrend.” Es ist schwer in Sats zu denken und selbst wenn der Preis von Bitcoin 1 M US Dollar erreicht, ist ein Bit immer noch eine greifbare und günstige Einheit: 1 Bit = 1 US Dollar. Eines von Adams Hauptargumenten ist, dass Sat als Untereinheit nicht funktioniert, weil es Dust gibt. Das Problem mit Dust besteht darin, dass es nicht möglich ist, Bitcoin unter einem bestimmten Schwellenwert auszugeben. Sein Argument ist, dass der Nutzen einer Einheit abhanden kommt, wenn diese Einheit als kleinste Recheneinheit nicht ausgegeben werden kann. Zugegeben, niemand kann mehr etwas für einen Cent kaufen, aber zumindest ist es technisch nicht unmöglich. Allerdings ist es unmöglich, 1 oder sogar 10 Sats über das Bitcoin-Netzwerk zu senden, ohne Layer-2-Skalierungstechnologien zu verwenden. ### Dust Unter Bitcoin-Dust versteht man eine sehr kleine Menge Bitcoin, typischerweise in kleinen ein- bis zweistelligen Sats-Beträgen, doch auch kommen immer öfter dreistellige Beträge vor. Sie werden Dust oder „Staub“ genannt, weil diese Beträge so gering sind, dass sie oft als unbedeutend und unpraktisch für die Verwendung bei regulären Transaktionen angesehen werden. Es gibt keine offizielle Definition dafür wie groß/klein ein Betrag sein muss, um als Dust zu gelten, da jede Softwareimplementierung (Client, Wallet, etc.) einen anderen Schwellenwert annehmen kann. Die Bitcoin Core Referenzimplementierung definiert Dust als jede Transaktionsausgabe, die niedriger ist als die aktuellen Transaktionsgebühren. Dust entsteht meist unbeabsichtigt bei Bitcoin-Transaktionen. Denn wenn Bitcoin von einer Adresse an eine andere gesendet wird, fällt oft eine Transaktionsgebühr an. Um Spam zu verhindern und die Sicherheit des Netzwerks zu gewährleisten, gibt es bei Bitcoin eine Mindestgröße für jede Transaktion. Dieses Limit ist der Mindestbetrag an Bitcoin, der als Ausgabe in eine Transaktion einbezogen werden kann. Der Rest ist Dust. Oder einfacher ausgedrückt, wenn die Mindestgröße für eine Bitcoin-On-Chain-Transaktion 500 Sats (5 Bits) beträgt und ich noch 800 Sats (8 Bits) in meiner Wallet habe, kann ich nach dem Versenden von 600 Sats (6 Bits) die übrigen 200 Sats (2 Bits) nicht mehr ausgeben. Diese verbleibenden 2 Bits sind Dust. Dust stellt aus mehreren Gründen eine Herausforderung für das Bitcoin-Netzwerk und seine Benutzer//innen dar: UTXO-Bloat: Bei jeder Transaktion werden nicht ausgegebene Transaktionsausgaben (UTXOs) erstellt, und Dust erhöht die Anzahl der UTXOs im System. Dies kann zu einer aufgeblähten Blockchain führen und sich negativ auf die Leistung und Skalierbarkeit des Netzwerks auswirken. [➡️ Wie UTXOs funktionieren](https://www.genexyz.org/post/25-block-774775-utxos-fee-management-v3ulch/) **Wallet-Management:** Im Laufe der Zeit kann sich in Wallets viel Dust ansammeln, und die Verwaltung solch kleiner Beträge kann für Benutzer//innen unpraktisch sein. Bei vielen Wallets ist ein Mindestguthaben erforderlich, und die Dust-Mengen sind möglicherweise zu gering, um diese Anforderung zu erfüllen. Viele Nutzer//innen wechseln häufig zwischen Wallets und transferirien ihre Vermögen vorher auf die neuen Wallets, bei solchen Wechseln bleiben Dust-Beträge zurück und gelten langfristig als verloren. Ein weiteres Problem besteht darin, dass Dust nicht genau definiert werden kann. Die Transaktionsgebühren hängen wesentlich von zwei Faktoren ab: Den Gebühren in sat/vB, welche von der Auslastung des Mempools abhängen und zu Zeiten von hoher Auslastung dementsprechend hoch sind, und zum anderen vom UTXO-Set des/der jeweiligen Nutzer//in. Denn wie wir wissen, werden Transaktionen aus einer oder mehreren UTXOs zusammengesetzt, je mehr UTXOs dabei benötigt werden, um den gewünschten Betrag zu versenden, desto höher sind die Kosten für diese Transaktion, da sich das Gewicht (in vBytes) erhöht. Diese beiden Faktoren können die Gebühren in Einzelfällen so strukturieren, dass größere Mengen Dust anfallen, als in anderen Fällen. **Datenschutzbedenken:** Da jede Transaktion in der Blockchain gespeichert wird, können selbst winzige Mengen Dust mit der Identität oder dem Transaktionsverlauf einer Person verknüpft werden, was die Privatsphäre gefährdet. Diese Funktion wird von Angreifern in sogenannten Dust-Attacks ausgenutzt. Denn böswillige Angreifer haben schnell erkannt, dass Nutzer//innen die winzigen Dust-Beträge, die in ihren Wallet-Adressen angezeigt werden, nicht viel Aufmerksamkeit schenken oder gar bemerken. Angreifer schicken also Kleinstbeträge an eine große Anzahl von Adressen, um dann im nächsten Schritt in einer kombinierten Analyse dieser Adressen und der Beträge, versuchen herauszufinden, welche Adressen zur gleichen Wallet gehören. Dabei ist es das Ziel, diese so identifizierbaren Adressen und Wallets schließlich den jeweiligen Eigentümer//innen zuzuordnen, um diese dann durch ausgefeilte Phishing-Angriffe oder Cyber-Erpressungen zu attackieren. Um diese Probleme zu lösen, können Nutzer//innen Dust konsolidieren, indem sie mehrere Dust-UTXOs in einer einzigen Transaktion mit einem höheren Wert kombinieren. Einige Wallets und Dienste bieten Funktionen an, mit denen Benutzer//innen ihren Dust effektiv verwalten und konsolidieren können. ### Abschließende Gedanken Der Unit-Bias ist absolut vorhanden. Ich persönlich begegne ihm immer wieder in Gesprächen mit Bitcoin-Interessierten, die sich mit der Materie noch nicht lange auseinandergesetzt haben. Die Verwunderung ist oft sehr groß, dass bitcoins nicht als Ganzes gekauft werden müssen. Die Verwendung einer Untereinheit sowohl in Wallets, als auch bei der Bepreisung kann dabei helfen. An die Verwendung von Sats als die kleinste Einheit von Bitcoin habe ich mich gewöhnt, allerdings tendiere ich mittlerweile persönlich zum Gebrauch von Bits. Die hervorgebrachten Argumente leuchten mir ein und ich bin überzeugt, dass Bits eine größere Akzeptanz außerhalb des Bitcoin-Inner-Circles hervorrufen können, als Sats. Darüber hinaus ist das Sats-Zeichen wirklich unpraktisch. Ich befürworte hier einige Ideen, die das Paragrafzeichen zum Symbol für Sats erheben wollen. 🫳🎤 --- In diesem Sinne, 2... 1... Risiko!‌ 

@ 2063cd79:57bd1320

Ich hatte vor ein paar Wochen die Gelegenheit mich mit Micheal Hassard persönlich zu unterhalten. Mike ist Verteidiger im Fall von Roman Sterlingov. Der Fall ist haarsträubend und beängstigend. Mike und ich haben uns einige Zeit unterhalten und er hat mir einige Details aus diesem wirklich spannenden Prozess verraten. Ich wollte versuchen die Informationen in einem Artikel zusammenzufassen, um auch anderen Leuten, die mit dem Fall noch nicht betraut sind, die Möglichkeit zu geben, zu verstehen, was für absurde Methoden und ungerechte Beweismittel in diesem noch komplett neuen rechtlichen Umfeld angewendet werden. ### LAX Am 27. April 2001 landet ein Direktflug aus Moskau am Los Angeles International Airport (LAX). Bei der Passkontrolle an der Immigration wird ein junger Passagier dieses Fluges von Kriminalermittlern des Internal Revenue Service (IRS) verhaftet. In seinem Gepäck befinden sich vier Reisepässe und allerhand technisches Equipment. Darunter Laptops, externe Festplatten und Bitcoin Signing Devices (Hardware Wallets). Der junge Mann wird festgenommen, seine mitgeführten Besitztümer und Pässe konfisziert, dann wird er in Untersuchungshaft gebracht. Der Vorwurf: Die Gründung und der Betrieb eines Bitcoin Mixers. Konkret wird ihm vorgeworfen, Bitcoin Fog gegründet und betrieben zu haben, darüber hinaus wird er in drei Punkten angeklagt: Geldwäsche, Betrieb eines nicht lizenzierten Geldtransfergeschäfts und Geldtransfer ohne Lizenz. Die IRS behauptet, dass über 1,2 Millionen Bitcoin, im Wert von etwa 336 M US Dollar zum Zeitpunkt der Transaktionen, über Bitcoin Fog verschickt wurden. <img src="https://blossom.primal.net/19536c9b7279004690e8bb665466366e8ecc64f6f3a1da9fb605b930fd2ba398.gif"> ### Bitcoin Fog Bitcoin Fog war ein beliebter Custodial Bitcoin Mixer, der von Nutzer//innen für ihre Privatsphäre genutzt wurde. Mixer sind Services die entwickelt wurden, 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. Ich habe Bitcoin Mixer schon mal detailliert beschrieben: https://www.genexyz.org/post/23-block-772315-bitcoin-mixing-q6i7y4/ TL;DR: Die Grundidee besteht darin, dass man einen Coin nimmt, der aus mehreren UTXOs besteht, und diesen mit Hilfe eines Dienstes einem Pool zuführt. Diese Dienste erhalten für die Vermittlung, Zusammenführung und das Stellen der Infrastruktur eine kleine Gebühr. Transaktionen werden dann so aufgebaut, dass sie es Überwachungsfirmen oder anderen Beobachtern sehr schwer machen, genau zu wissen, welcher Transaktion-Output zu welchem der Input-Steller gehört. Bitcoin Fog wurde 2011 gegründet und ist ein Custodial Service, was bedeutet, dass Nutzer//innen ihre Bitcoin an eine Wallet des Betreibers senden, und im Gegenzug dann von Bitcoin Fog andere Bitcoin zurück erhalten, um die Spur der On-Chain-Transaktionen zu verwischen. ### Roman Sterlingov Roman war schon früh Benutzer von Bitcoin. Als er 14 Jahre alt war, zog er mit seiner Mutter von Russland nach Schweden und beschäftigte sich ab etwa 2011 mit Bitcoin. Dies ist wichtig, denn als russischer und schwedischer Staatsbürger ist Roman im Besitz von vier offiziell ausgestellten Reisepässen. [Russland hat zwei Pässe](https://en.wikipedia.org/wiki/Internal_passport_of_Russia), einen für das Reisen innerhalb und einen für das Reisen außerhalb Russlands. Schweden stellt auch [zwei Reisepässe aus](https://en.wikipedia.org/wiki/Swedish_passport). Als der Bitcoin-Kurs stieg, wurde er Millionär. Er kündigte seinen Job und versuchte, sich selbstständig zu machen. Unter anderem gründete er ein VPN-Geschäft, das nicht erfolgreich war, und entschied sich später aufgrund der Volatilität von Bitcoin und fehlenden Einnahmen aus seinen Projekten, Pilot bei einer kommerziellen Fluggesellschaft zu werden. Er meldete sich bei einer kalifornischen Flugschule an und 2021, als Roman nach Kalifornien zur Flugschule flog, wurde er von der Regierung am Flughafen LAX verhaftet. Er sitzt seit über zwei Jahren im Gefängnis und wartet auf seinen Prozess. Neben seinen Pässen und seinem Equipment wurden auch die seit 2011 angesammelten Bitcoin beschlagnahmt, da diese auf Konten bei u.a. Kraken lagen. ### Die Anklage Kalifornien hat Roman Sterlingov wegen des Vorwurfs verhaftet, über einen Zeitraum von 10 Jahren Bitcoin im Wert von fast 336 M US Dollar gewaschen zu haben. Ihm wird vorgeworfen, über sein Konto und seine IP-Adressen mit der Bitcoin Fog-Domain und mit Mt. Gox-Konten, die in Verbindung zu Bitcoin Fog stehen, an Bitcoin Fog beteiligt zu sein. Vor dem Start des Dienstes nutzte der Administrator seinen echten Namen auf seinem Mt. Gox-Konto, um die Plattform einem Betatest zu unterziehen. Sein persönliches Google-Konto wurde auch zum Speichern der Schritte zur Bezahlung der Domain verwendet. Dies sind jedoch zum heutigen Zeitpunkt nur Anschuldigungen ohne konkrete Beweise. Der Fall stützt sich stark auf digitale Forensik und Blockchain-Analyse ohne Zeugenaussagen oder ähnliche konkrete Beweisstücke. Selbst wenn Roman die Domain gekauft hätte, wäre dies nicht illegal. Die Verjährungsfrist für die angeblichen Verbrechen ist ebenfalls abgelaufen. Was bleibt, sind von der Anklage angeführte "Beweise", die sich komplett auf die Blockchain-Analyse der Firma Chainalysis stützen. ### Chainalysis Chainalysis ist die wohl bekannteste Blockchain-Analyse Firma. In einem früheren Artikel habe ich schon mal beschrieben, wie diese Firmen operieren: https://www.genexyz.org/post/19-block-765505-on-chain-analytics-mhcumo/ TL;DR: Unter On-Chain Analytics versteht man die Analyse von Daten, die auf jeder beliebigen Blockchain vorhanden sind. Diese Daten sind auf der Chain, also on-chain und somit für jedermann jederzeit und von überall abrufbar. Genauer bieten Blockchains Daten über Adressen, Transaktionen und in gewisser Weise auch über Wallets. Diese Informationen können verwertet werden, um verschiedene Sachverhalte darzustellen. Dieses Verfahren wird auch Heuristik genannt und bedient sich wahrscheinlicher Annahmen, also z.B. wiederkehrender Muster. Dabei werden sogenannte Cluster erstellt, also Verbindungen zwischen Adressen und Transaktionen gezogen. So nutzen nutzen Analyse-Firmen wie Chainalysis Heuristiken und Wahrscheinlichkeitsanalysen, um Bitcoin-Transaktionen und Eigentümerwechsel zu verfolgen. Sie versuchen, Adressen auf der Grundlage dieser Heuristiken zu gruppieren, jedoch stimmen die Ergebnisse verschiedener Unternehmen oft nicht überein. Dies kann zu vagen Beweisen und Schuldunterstellungen führen. > „Während die Identität eines Besitzers einer Bitcoin-Adresse im Allgemeinen anonym ist (es sei denn, der Besitzer entscheidet sich dafür, die Informationen öffentlich zugänglich zu machen), können Strafverfolgungsbehörden den Besitzer einer bestimmten Bitcoin-Adresse oft durch Analyse der Blockchain identifizieren“ - Devon Beckett, Special Agent, IRS Chainalysis betreiben einen sogenannten Reactor, der diese Analysen vornimmt. Diese Analyse dient als Grundlage für das Argument, Roman habe Geld von seinem Mt Gox-Konto abgebucht und verwendet, um die Bezahlung der DNS-Registrierung für Bitcoin Fog zu tätigen und zu verbergen. Es wird so versucht, Roman mit Aufzeichnungen im Bitcoin Talk-Forums in Verbindung zu bringen, die wiederum Bitcoin Fog mit illegalen Aktivitäten in Verbindung bringen. <img src="https://blossom.primal.net/6d86d2843895b4b7fa481fe074e0c79bb94b7001233fbcf415bcde86e175359f.gif"> Konkret wird anhand dieser Analyse eine Verbindung zu Roman und weiter zu Bitcoin Fog hergestellt, die beweisen soll, dass Zahlungen im Wert von 336 M US Dollar gewaschen wurden, die für Drogengeschäfte verwendet wurden. Es gibt keine objektiven Standards für diese Art der Analyse und Strafverfolgungsbehörden stützen ihre Beweise auf diese privaten Ermittlungen. Im konkreten Fall vo Chainalysis spielen Beziehungen zu Strafverfolgungsbehörden wie dem britischen Serious Crimes Office und dem US-Justizministerium, sowie den damit einhergehenden Geldquellen eine entscheidende Rolle beim Aufstieg des Unternehmens zum größten Anbieter dieser Dienstleistungen mit einer Marktkapitalisierung von 8,6 Milliarden US Dollar. ### Verteidigung Roman wird in diesem Fall von der Kanzlei Ekeland Law, PLLC vertreten. Die Anwälte, Tor Ekeland und Michael Hassard sind der festen Überzeugung, dass Roman unschuldig ist und dass er in diesem Fall aufgrund fehlerhafter digitaler Forensik in Bedrängnis geraten ist. Roman gibt zu, Bitcoin Fog aus Datenschutzgründen verwendet zu haben, um seine Bitcoin zu waschen, bevor er diese in sein Konto bei Kraken einzahlte. Das Mischen an sich ist nicht illegal, denn während der Anhörung erkannte der Richter sogar an, dass die Verwendung eines Mixers wie Bitcoin Fog nicht grundsätzlich verboten sei. Dies war sogar das erste Mal, dass ein Richter ausdrücklich erklärte, dass das Mischen von Bitcoin nicht illegal ist und dass es auch nicht illegal ist, Nutzer//in eines Mischdienstes zu sein. Es ist jedoch zu beachten, dass sich dieser Fall speziell gegen den Betreiber von Bitcoin Fog richtet und versucht, den Dienst mit Drogenmarktplätzen in Verbindung zu bringen. Argumente für Romans Unschuld beinhalten unter anderem, dass Bitcoin Fog in der gesamten Zeit von Romans Inhaftierung aktiv geblieben ist, was darauf schließen lässt, dass die eigentlichen Betreiber immer noch auf freiem Fuß sind. Roman wurde vor seiner Verhaftung überwacht, es wurden Abhör- und Überwachungsmaßnahmen durchgeführt, jedoch keine Beweise gefunden, die ihn mit dem Betrieb von Bitcoin Fog in Verbindung bringen, selbst nachdem Server beschlagnahmt wurden. Darüber hinaus ignoriert die Anklage auch die Tatsache, dass die DNS-Registrierung der Bitcoin Fog Domain seit Romans Verhaftung zweimal erneuert wurde. Trotzdem versucht die Anklage eine Verbindung zu Roman auf der Grundlage von IP-Adressen herzustellen, die mit anderen E-Mails verknüpft sind, die zur Registrierung der DNS und zur Erstellung eines Kontos im Bitcoin Talk Forum verwendet wurden. <img src="https://blossom.primal.net/8e7bfd219eb2e064b00ed62b656d1af153f4beb32370914578f0f6946a003f2e.gif"> Roman wird Verschwörung vorgeworfen, es wurde jedoch kein einziger Mitverschwörer genannt. Bei den von der Anklage behaupteten Transaktionen handelt es sich um Lizenzzahlungen des Mixers, die jedoch nicht durch Beweise gestützt werden. Wenn Roman ein Drahtzieher wäre, der 336 M US Dollar an Drogengeldern gewaschen hätte, würde es für ihn keinen Sinn machen, sein Geld mit seinem richtigen Namen und Passfoto auf ein KYC-Konto bei Kraken einzuzahlen. An dieser Stelle ist es vielleicht interessant festzustellen, dass Michael Gronager, einer der [Mitbegründer von Chainalysis](https://en.wikipedia.org/wiki/Chainalysis), auch einer der Mitbegründer von Kraken war. ### Mt Gox Daten Es gibt eine Verbindung zwischen Kraken, Chainalysis und Mt Gox. Denn nicht nur war der Gründer von Kraken, Jesse Powell, als Berater für Mt. Gox bei der Lösung eines Sicherheitsproblems tätig und begann in Erwartung seines Kollapses mit der Arbeit an Kraken als Ersatz, auch Chainalysis wurde als direkte Reaktion auf den Mt. Gox-Skandal gegründet. Chainalysis wurde in den offiziellen Ermittlungen im Insolvenzverfahren von Mt. Gox genutzt, um den Verbleib der "gestohlenen" bitcoins zu untersuchen. Allerdings gibt es Anzeichen dafür, dass die dabei verwendeten Daten falsch und unzuverlässig seien. Angebliche Transaktionsnummern und Wallet-Adressen existieren nicht, werden verwechselt oder sind schlichtweg fehlerhaft. Genau dieser Datensatz wird aber nun benutzt, um Fälle wie den von Roman zu beweisen. ### Ankläger Einer der Staatsanwälte des Falles ist jetzt leitender Rechtsberater für Chainalysis, und ein IRS-Ermittler gründete während seiner Tätigkeit für den IRS ein privates Unternehmen namens Exigent LLC. Die Pressemitteilungen und Fundraising-Runden von Chainalysis stehen eng im Zusammenhang mit dem Fall. Exigent LLC erhält in der Pressemitteilung des US-Justizministeriums die höchste Auszeichnung für Romans Verhaftung, und fünf Monate später kaufte Chainalysis Exigent LLC. Dieser Fall scheint von Karrierismus und Profitstreben getrieben zu sein. <img src="https://blossom.primal.net/cfd9c2f0bced31d0b51f669d4a589b39cfcff57bc952e6013856121c128e2d6d.gif"> ### Problem Neben den Verbindungen der Ermittler und Ankläger mit Chainalysis und der Problematik der fehlenden Beweise, ist dieser Fall zutiefst beunruhigend und wirft Bedenken hinsichtlich des geltenden Computerrechts auf. Die meisten Blockchain-Strafverfolgungen folgen dem gleichen Muster: Einspruchsvereinbarungen, Gerichtsverfahren oder Entlassungen. Unschuldige Menschen gehen oft auf Plädoyer-Deals ein, weil ihnen die Ressourcen fehlen, um gegen die unbegrenzten Ressourcen des Department of Justice zu kämpfen. Roman kann keinen Deal annehmen, weil er nichts weiß und lügen müsste. Es ist beunruhigend, dass der Fall in Washington D.C. verhandelt wird, obwohl Roman keine Verbindungen zu dieser Stadt hat. Die einzige Grundlage dafür, die Gerichtsbarkeit nach D.C. zu legen, ist darin begründet, dass eine verdeckte Operation gegen Roman aus Washington D.C. geleitet wurde. Dies gibt Anlass zur Sorge, weil es Staatsanwälten ermöglicht, Angeklagte auf der Grundlage von Online-Interaktionen vor jedes Bundesgericht zu ziehen - ob US Staatsbürger oder nicht. Dies ist ein direkter Verstoß gegen die Gerichtsstandsklausel und entfernt wichtige Elemente des Strafrechtssystems, da es jede/n Nutzer//in von Bitcoin-Mixern in die gefährliche Lage versetzen kann, vor einem US-Gericht angeklagt zu werden, wenn eine auch nur dünne Beweislage gegen ihn/sie vorliegt. Ein weiteres Problem besteht in den vorgebrachten Beweisen. Denn die Verteidigung hat bis heute keinen Einblick in den Code oder die verwendeten Datensätze, die von Chainalysis verwendet wurden, erhalten. Chainalysis beruft sich dabei auf seine proprietären Geschäftsdaten und lehnt eine Offenlegung ab. Es wird vermutet, dass die Datensätze falsch sind, insbesondere angesichts der fragwürdigen Mt. Gox-Aufzeichnungen, auf die sie sich stützen. Die bereitgestellten Daten sind begrenzt, unvollständig und werden in komplizierten Flussdiagrammen dargestellt. Die verwendete Software, wie z.B. der Chainalysis Reactor, steht nicht für eine unabhängige Prüfung zur Verfügung. Der Mangel an Transparenz und Zugang zu dieser Software gibt Anlass zu Bedenken hinsichtlich ihrer Genauigkeit und den daraus gezogenen Schlussfolgerungen. <img src="https://blossom.primal.net/74c86d3db94191c8c5389e6ffbedc28a8c3e4b8a0e1ae1410f81777523a2e399.gif"> Es bestehen Zweifel am Zusammenhang zwischen Roman, dem Betreiber von Bitcoin Fog, und den mutmaßlichen Straftaten. Roman sitzt derzeit im Gefängnis, ihm droht eine Haftstrafe von 50 Jahren. Die Freiheit einer Person wird durch eine kommerzielle proprietäre Software gefährdet, die vor Gericht erwirken kann, dass Quellen und Datensätze nicht offengelegt werden. Auch wirft der Fall Bedenken hinsichtlich fehlender Standards, des gewinnorientierten Charakters des forensischen Bereichs, der Weigerung, Beweise auszutauschen, und der Möglichkeit von Justizirrtümern auf, die durch fehlerhafte Software und fragwürdige Praktiken verursacht werden. ### Wie geht es weiter? Das Verteidigungsteam hat finanzielle Probleme, da alle Gelder von Roman beschlagnahmt wurden. Der Antrag auf Freigabe der Mittel wurde abgelehnt. Romans Verteidigung muss öffentliche Mittel beantragen und hofft auf Spenden. Ich habe in einem früheren Artikel schon auf die Spendenseite aufmerksam gemacht. Wer anhand der aufgelisteten Fakten das Gefühl bekommt, dass hier jemand zu Unrecht verhaftet wurde und helfen möchte, kann die Verteidigung mit einer Spende unterstützen. https://www.torekeland.com/roman-sterlingov https://geyser.fund/project/usvsterlingov #FREEROMAN 🫳🎤 --- In diesem Sinne, 2... 1... Risiko!‌ 

@ a012dc82:6458a70d

**Table Of Content** - Rollercoaster Rides - The Impact of Macroeconomic Forces - Short-term Projections - Ethereum's Steady Stance - Week-on-week Comparisons - Altcoins in Focus - The Laggards - Market Overview - Conclusion - FAQ September has once again proven itself to be a tumultuous month for the world's most prominent cryptocurrency, Bitcoin (BTC). This month-long rollercoaster ride has historical roots, as September has historically been a challenging period for Bitcoin. However, the first two-thirds of the month showcased remarkable progress, raising expectations. But the recent resurgence of the US dollar has cast a shadow over the entire crypto market, leading to uncertainty among investors and traders. **Rollercoaster Rides** As the calendar pages flipped through September, Bitcoin embarked on a rollercoaster ride that left many in the crypto community holding their breath. Over the weekend, Bitcoin witnessed a significant dip, eroding a substantial portion of its gains for the month. Sunday's trading session saw the BTC/USDT pair drop by 1.2%, closing at $26,250. Monday's early trades further exacerbated the bearish trend, pushing the pair below $26,150. These rapid fluctuations in Bitcoin's value have been a hallmark of its journey in recent weeks. **The Impact of Macroeconomic Forces** In addition to its internal dynamics, Bitcoin has been significantly influenced by macroeconomic factors, particularly the policies and guidance provided by the Federal Reserve and other central banks. Last week, the Fed's unexpected hawkish stance sent shockwaves through financial markets, including the crypto sphere. This policy shift had an adverse effect on risk-on trading sentiment, causing investors to reevaluate their strategies. As the month approaches its conclusion, a less eventful macroeconomic calendar might imply reduced volatility in the coming days. However, the lingering impact of the Fed's decisions remains a source of uncertainty. **Short-term Projections** To gain insights into Bitcoin's short-term trajectory, market analysts have turned to Binance's order book analysis. According to their assessment, a support line appears to be forming at the $25,000 mark, providing some stability in the face of recent turbulence. Conversely, selling resistance has been identified at $27,500, indicating a significant challenge for Bitcoin's upward momentum. These levels are likely to play a crucial role in determining Bitcoin's path in the immediate future, with traders closely monitoring any breaches or rebounds. **Ethereum's Steady Stance** In contrast to Bitcoin's rollercoaster performance, Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has demonstrated a more stable trajectory over the past few days. While Saturday saw minimal fluctuations, Sunday's trades witnessed a modest 0.8% dip, settling at $1,580. As of Monday, Ethereum has maintained this position, indicating resilience in the face of market turbulence. Ethereum's stability, as compared to Bitcoin's wild swings, underscores the unique dynamics at play within the broader cryptocurrency market. **Week-on-week Comparisons** Examining the performance of these two leading cryptocurrencies over the course of the week reveals intriguing trends. Bitcoin has experienced a 2% decline in its value, signaling the challenges it faced amid a shifting financial landscape. Meanwhile, Ethereum has faced a slightly more significant drop of over 3%. These fluctuations underscore the inherent volatility of the crypto market, even among its most prominent players. **Altcoins in Focus** Beyond Bitcoin and Ethereum, the broader altcoin spectrum presents a diverse set of performances. One standout performer has been Solana (SOL), which surged ahead by an impressive 1.75% in the past seven days. This remarkable growth has garnered the attention of investors and enthusiasts alike. Additionally, Ripple (XRP) has maintained positive momentum, adding approximately 0.8% to its value. These altcoins' resilience serves as a testament to the unique dynamics within the cryptocurrency ecosystem. **The Laggards** However, not all altcoins have been able to escape the gravitational pull of Bitcoin's performance. Prominent digital assets such as Binance's BNB token, Dogecoin (DOGE), Cardano (ADA), Polkadot (DOT), and Polygon (MATIC) have mirrored Bitcoin's downward trend. These digital assets have seen marginal losses in terms of their respective market capitalizations, underscoring the interconnectedness of the cryptocurrency market. **Market Overview** At present, the global cryptocurrency market cap stands at an impressive $1.04 trillion, signifying the substantial size and influence of the digital asset market. Bitcoin continues to command a dominant position, with a market dominance of 49.9%. This reaffirms Bitcoin's status as the undisputed leader in the digital asset space, despite the challenges it faces in September. **Conclusion** As September draws to a close, the battle between Bitcoin and the resurgent US dollar remains uncertain. The interplay between internal dynamics, macroeconomic factors, and market sentiment will continue to shape the crypto landscape in the days ahead. Traders and enthusiasts alike will be watching closely to discern the next moves in this high-stakes confrontation. As the dust settles, the cryptocurrency market will likely reveal new trends and opportunities for those who can navigate these uncertain waters with agility and insight. **FAQ** **Why is September historically challenging for Bitcoin?** September has traditionally been a tough month for Bitcoin, with factors like market sentiment and macroeconomic forces contributing to its volatility during this period. **How is the US dollar impacting Bitcoin's recent performance?** The resurgence of the US dollar has cast a shadow over the crypto market, leading to uncertainty and impacting Bitcoin's value. **What are the short-term projections for Bitcoin and Ethereum?** Short-term projections for Bitcoin suggest a support line at $25,000 and resistance at $27,500, while Ethereum has maintained relative stability. **Which altcoins have performed well recently?** Solana (SOL) and Ripple (XRP) have shown positive momentum, but some prominent altcoins have followed Bitcoin's downward trend. **That's all for today** **If you want more, be sure to follow us on:** **NOSTR: croxroad@getalby.com** **X: [@croxroadnews](https://x.com/croxroadnewsco)** **Instagram: [@croxroadnews.co](https://www.instagram.com/croxroadnews.co/)** **Youtube: [@croxroadnews](https://www.youtube.com/@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.*

@ dd664d5e:5633d319

## Hodling Bitcoin does not make you a capitalist I've noticed that Bitcoin-mindedness seems to lead some people to communistic thinking because it's a hard-limited form of capital. Marx, like most Bitcoiners, heavily discounted the possibility of economic growth or transformation changing the economy enough to undermine some minority's control of some form of capital. What few today understand, is that many of the Dirty Capitalists of Marx's era actually agreed with him; they were just disdainful of labor and worried that the workers finding out that Marxism is correct about the nature of capitalism would cause unrest. They were the original HFSP crowd. This was the basic idea, that Marx had, and that many Bitcoiners would agree with: > Capital is strictly limited and the people that control it can keep labor from attaining any, except when their labor is necessary. And, as we know, automation will make human labor increasingly unnecessary. ## The math doesn't check out  That underlies all of the calculations of "Well, if I just grab this Bitcoin wallet and hodl for twenty years, then it will grow in value to equal half of everything in existence and then I can just buy up half the planet and rule over everyone like a god." This is economic nonsense because it assumes that: 1) the value of all things remains static over time, 2) purchasing something with money gives you ownership of it, 3) people will always use that specific money (or any money, at all!) for all transactions, 4) there is no such thing as opportunity cost, 5) people will always value money more than any other thing, and therefore be willing to always trade it for anything else, 6) humans are passive, defenseless, and easy to rule over, 7) someone who is preoccupied with hodling an asset steadily and sharply rising in price would ever be emotionally ready to part with it. ## All monies can die. People use money for everything because it is easy, fast and cheap. If money becomes too precious or scarce, they will simply switch to using other things (as we saw with gold). Humans replace tools that aren't working well, with those that work better, and money is just another tool. Bitcoin is more divisible than gold, but that won't matter, if enough of it is held by too few. This is why there's a natural cap on the price of a money and why human productivity _in the here and now_ is not irrelevant or in vain.

@ 2063cd79:57bd1320

Der letzte Artikel stand ganz im Zeichen von Mempool, Transaktionsgebühren, Ordinals, BRC-20 Tokens (aka Shitcoins auf Bitcoin) und Mining-Rewards. Der Mempool ist voller als der Hyde-Park in London am einzigen Sommertag mit Sonne im Jahr. Doch weil ich mich in letzter Zeit zu Genüge mit den vorgenannten Themen beschäftigt habe und man zur Zeit an jeder Ecke den Status des Mempools ungefragt eingeflößt bekommt, möchte ich mich diese Woche mit zwei Standpunkten beschäftigen, die entweder gegenläufig oder komplementär zueinander stehen (gibt es wirklich kein Antonym zum Wort komplementär?). Ausschlaggebend für den Gedankengang, der mich zu dieswöchigem Artikel bewegt hat waren ein Artikel und eine Podcast-Episode, über die ich letzte Woche gestolpert bin. Bei dem Artikel handelt es sich um Jimmy Songs "[How Fiat Money Broke the World](https://bitcoinmagazine.com/culture/fiat-money-has-broken-the-world)" aus seiner Fixing the Incentives-Reihe im Bitcoin Magazine und bei der Podcast-Episode wurde ich von den Ausführungen von Peruvian Bull im TFTC Podcast [Ausgabe 414: The Dollar Endgame](https://www.tftc.io/414-the-dollar-end-game-is-here-with-peruvian-bull/) von Marty Bent zum Nachdenken angeregt. Prinzipiell stellt sich im Großen und Ganzen die Frage, wie eine großflächige Adaption von Bitcoin vonstatten gehen könnte. [Hyperbitcoinization](https://www.genexyz.org/post/1721243636888/) oder auch Bitcoin als gesetzliches Zahlungsmittel (wie z.B. in El Salvador, oder bald sogar in Indonesien und Mexiko (!)) sind dabei mögliche Szenarien. Der Nicht-Ghandi-Spruch “First they ignore you, then they laugh at you, then they fight you, then you win.” wird oft genutzt, um die soziologische Entwicklungsstufe, bzw. die öffentliche Wahrnehmung einer Idee, einer Erfindung oder eines Produkts in gewisse Entwicklungsstufen einzuordnen. Genauso wie bei Bitcoin. WIR SIND IN DER "THEN THEY FIGHT YOU" STUFE!!!11! kann man überall auf Bitcoin-Twitter, Nostr oder Reddit lesen. Doch wer ist "THEY"? Wenn man nur von Nationalstaaten ausgeht und offizielle und inoffizielle (konspirative) multinationale Interessensgruppen außen vor lässt, stellt sich mir die Frage, welches Land / welcher Staat die meisten Gründe (politischer oder wirtschaftlicher Natur) hätte, Bitcoin zu adaptieren, bzw. zu bekämpfen. Natürlich kommen einem dabei als erstes die USA in den Sinn, immerhin das Land mit der höchsten kombinierten [Bitcoin-Hashrate](https://ccaf.io/cbnsi/cbeci/mining_map), mit den meisten Bitcoin-Infrastruktur-Anbietern, mit den größten Börsen (nach Handelsvolumen) und den meisten Bitcoin-Nutzer//innen in der Bevölkerung. Doch macht das die USA zum größten potentiellen Gegner oder zum größten potentiellen Befürworter und Begünstigten von Bitcoin? ### Jimmy Song "How Fiat Money Broke the World" [Jimmy Song](primal.net/jimmysong) baut seinen Artikel chronologisch auf. Es geht um die Entstehung des Fiat-Geld-Systems nach dem zweiten Weltkrieg und die damit einhergehende Abschaffung des Goldstandards. Mit der Errichtung des Bretton-Woods-Systems wurde eine neue Währungsordnung geschaffen, die den US Dollar als Ankerwährung bestimmte, der wiederum an Goldreserven gekoppelt werden sollte. So sollten flexible Wechselkurse innerhalb der verschiedenen Landeswährungen gewährleistet werden, während gleichzeitig die Sicherheit von Goldreserven existiert. Doch statt Gold für die internationale Handelsabwicklung zu verwenden, wurde nun der Dollar die Abwicklungswährung. Diese Entscheidung verhalf den USA zu einer hegemonialen Wirtschaftsmacht zu werden, denn die Fähigkeit, das Geld zu drucken, mit dem jedes andere Land seinen Handel abwickelte, gab den USA mehr Macht über den Rest der Welt. Diese Dollar-Hegemonie begünstigte die USA deutlich im internationalen Handel, da sie zur Zentralbank für alle anderen Zentralbanken wurden. Nicht-US-Banken geben sogar Verbindlichkeiten in Dollar, und zwar nicht nur in Europa, sondern in vielen anderen Teilen der Welt. Infolgedessen halten andere Zentralbanken US Dollar als Reserve, die dann auf der Basis von Teilreserven verwendet werden können, um noch mehr Geld in Form von Krediten zu schaffen (das sogenannte [Eurodollar-System](https://de.wikipedia.org/wiki/Eurodollar)). Diese Position der Stärke nutzten die USA weiter aus und erschufen, was heute als das Petrodollar-System bekannt ist. Dank einem Abkommen zwischen Saudi-Arabien und den USA in den 1970ern wird das von allen Mitgliedsstaaten der OPEC geförderte Öl in US Dollar gehandelt, im Gegenzug für militärischen Schutz durch die USA. Das sogenannte [Petrodollar-System](https://de.wikipedia.org/wiki/Petrodollar) hat dem US Dollar somit einen enormen Wert und hohe Liquidität verliehen. Die war auch nötig, denn teure Sozialprogramme wie Medicare und Medicaid als auch das Social Security Programm wurden gestartet. Aber auch sehr teure Stellvertreterkriege, wie z.B. in Korea und Vietnam, wollten finanziert werden. Dies taten die USA, indem sie das Geld hierfür einfach druckten, was wiederum die Zentralbanken der anderen Länder nervös machte und dazu brachte, mit dem Abzug ihrer Goldeinlagen bei der US-Notenbank zu drohen. Der damalige Präsident Tricky Dick (Richard Nixon) reagierte darauf, indem er die Goldbindung des US Dollar zunächst nur temporär für immer aufhob. Damit hatte er den Dollar vom Gold ent- und an das Öl der Saudis (bzw. an den militärisch-industriellen Komplex der USA) gekoppelt. Die USA haben also das exorbitante Privileg, das Geld drucken zu können, das die Welt für die Abwicklung von Handel verwendet. Dies bedeutet unter anderem, dass die USA ihre gedruckten Dollars exportieren und Waren und Dienstleistungen aus anderen Ländern importieren können. Somit wird das gedruckte Geld im Allgemeinen zuerst in den USA ausgegeben (Cantillon-Effekt in Reinform), was dazu führt, dass Geschäftserfolg in den USA zu einer viel höheren monetären Belohnung führt, als in anderen Ländern. Vereinfacht gesagt: In den USA schwimmt mehr Geld umher und somit wird Erfolg besser belohnt. Folglich wollen mehr Menschen in die USA ziehen, und die USA können auswählen, wer hineinkommt und wer nicht. Gut für die USA - schlecht für die anderen. Die ehrgeizigsten Menschen aus anderen Ländern immigrieren in die USA und verdienen mehr Geld und leben ein viel besseres Leben als in ihren Heimatländern. Der Braindrain bedeutet, dass andere Länder unterm Strich verlieren. Menschen im Allgemeinen versuchen immer in Länder einzuwandern, die in der Cantillon-Hierarchie höher stehen. Die reichen Länder werden somit reicher an Humankapital, während die armen Länder an Humankapital ärmer werden. Die USA schaffen es, ihre Stellung als Neuzeit-Kolonialist vor allem mit Hilfe von Sonderorganisationen, internationalen Finanzinstitutionen und anderen Stiftungen wie dem IWF, der BIZ, des WEF oder der Weltbank zu zementieren. Diese supranationalen Banken und Organisationen leihen Entwicklungsländern und "Ländern des globalen Südens" Geld für den (Wieder-) Aufbau und andere Struktur-relevante Tätigkeiten, aber nur unter strengen Auflagen, die noch strenger werden, wenn diese Kredite nicht zurückgezahlt werden können. In diesen Fällen werden diese Länder dann von den Banken "gerettet", unter der Auflage, noch mehr Kontrolle über die eigene Finanzsuveränität abzugeben. Im Wesentlichen tauschen sie dabei Kredite und längere Laufzeiten gegen organisatorische Kontrolle über den Staatshaushalt. Solche Beschränkungen können Punkte beinhalten, wie z.B. wieviel des nationalen Budgets für Infrastruktur ausgegeben werden kann. Oft müssen diese verschuldeten Regierungen eine eigene unabhängige Zentralbank gründen, die dazu verwendet werden kann, die Notwendigkeit einer staatlichen Genehmigung zu umgehen. So werden Länder dazu gebracht Staats-Ressourcen, wie Schürfrechte oder Ländereien an ausländische Unternehmen zu verkaufen. Jimmy Song führt seinen Artikel noch etwas fort, doch die mir wichtigsten Punkte habe ich erwähnt. Kurz zusammengefasst: Die USA haben durch die de facto Kontrolle über das Geld eine Sonderposition in der Welt. Nicht nur sitzen sie am Gelddrucker - Geld drucken kann jeder, klappt eben nur unter bestimmten Voraussetzungen (zumindest zeitweise) - sondern haben durch diese Kontrollsituation weitere Vorteile: 1) Das größte Exportgut der USA ist der US Dollar. 2) Die US-Wirtschaft hat einen klaren Vorteil anderen Wirtschaften gegenüber, da das Unternehmertum dort besser belohnt wird. 3) Viele ehrgeizige und talentierte Menschen der ganzen Welt strömen in die USA, um von dieser Belohnung zu profitieren. 4) Die internationalen Buchstabensuppen-Finanzinstitutionen stärken den USA den Rücken. Die USA haben also ein sehr großes (das gröte) Interesse daran, das globale Finanzmonopol in der aktuellen Form aufrechtzuerhalten. ### Peruvian Bull "The Dollar Endgame" Die Ausgangsthese von [Peruvian Bull](primal.net/p/npub1xwmyzp64xx03kw9ecd7fzsj3e9dgwah6an0rdng0cc6ux4dswwjs28pyyc), einem Autor, der ein gleichnamiges Buch veröffentlicht hat ([The Dollar Endgame](https://thedollarendgame.com/)) ist, dass viele Zeichen darauf hindeuten, dass der US Dollar als Leitwährung der Welt seine letzten Atemzüge macht. Er ist dabei recht pessimistisch und glaubt, dass wir schon in den nächten fünf bis sieben Jahren eine große Veränderung erleben werden. Allerdings sieht er eine große Chance für die USA, Bitcoin zu nutzen, um diesem Untergang entgegenzuwirken. Viele Länder und Institutionen außerhalb der westlichen Welt sehen den US Dollar kritisch und sind nicht besonders glücklich über die Vormachtstellung, die der Dollar den USA auf dem internationalen Finanzmarkt, dem globalen Handel und der geopolitischen Weltordnung verleiht. Die US-Notenbank wird immer mehr in die Ecke gedrängt und der einzige Ausweg aus der momentanen Schuldenspirale ist Hyperinflation. Meine zwei Sats sind, dass eine Wahrscheinlichkeit natürlich immer besteht, allerdings bin ich persönlich davon überzeugt, dass der US Dollar, wenn überhaupt, die letzte Währung sein wird, die eine Hyperinflation erlebt, da vorher ganz andere Währungen das Zeitliche segnen müssten. Doch um bei der These zu bleiben, bietet Bitcoin eine alternative Lösung zur Hyperinflation. Denn die USA könnten ihre Verluste reduzieren, indem sie auf eine Bitcoin-gestützte Leitwährung wechseln. Dazu sind die USA auch bestens aufgestellt: Die von Minern aufgebrachte Hashrate ist nirgendwo größer, als in den USA, Bitcoin-Bestände in Wallets sind nirgendwo größer als in den USA und die größten Bitcoin-Unternehmen, Unternehmen die Bitcoin fördern, oder Technologie entwickeln, die Bitcoin zugute kommt, sitzen in den USA. Würden die USA, bzw. die US-Notenbank, zu einem Bitcoin-gestützten Währungssystem wechseln, müssten alle anderen Länder der Welt nachziehen, solange die USA diese (oben beschriebene) globale Vormachtstellung in der Weltwirtschaft noch innehaben. Dies würde den USA einen gewaltigen First-Mover-Vorteil bescheren, da nirgendwo sonst die Infrastruktur und der Zugang zu Bitcoin so stark ausgeprägt sind. <img src="https://blossom.primal.net/45676de9f23863d4e05005f3e7b51c46ef38791395bb8abeb5966ea10c6bede6.gif"> Es ist also nur eine politische Entscheidung, ob dieser First-Mover-Vorteil ausgenutzt wird oder nicht. Indem die Nutzung (institutioneller oder privater Art, Mining, Innovation, etc.) eingeschränkt wird, z.B. durch Verbote, Besteuerung, oder andere ungünstige Gesetze, wird die gesamte Branche und damit das technische Wissen, die Innovation und das damit verbundene Kapital ins Ausland verdrängt und die USA schießen sich ins eigene Bein. Es wird sicherlich institutionellen Widerstand geben, da die derzeitigen institutionellen Akteure stark vom aktuellen System profitieren und daher nicht zu einem Bitcoin-Währungssystem wechseln wollen, in dem sie keine Zensurrechte und keine exklusiven Übertragungsrechte haben. Daher werden US-Institutionen wie die Notenbank und das Finanzministerium von diesem Ansatz nicht allzu begeistert sein, doch wenn sie es ernsthaft genug betrachten und erkennen, dass es sich hierbei um eine Form der geopolitischen, strategischen Kriegsführung handelt, könnten sie gezwungen sein, ihre Meinung zu ändern und sich auf ein neues System vorzubereiten, das den Idealen, wie Freiheit, Redefreiheit, Eigentumsrechten und solides Geld, treu bleibt, auf denen die USA gegründet wurden. Peruvian Bull und Marty Bent führen in dieser Episode noch weitere Punkte aus, doch die mir wichtigsten Punkte habe ich wieder erwähnt. Kurz zusammengefasst: Die USA stehen davor, ihre globale Vormachtstellung zu verlieren. Ein Ausweg könnte die Adaption von Bitcoin als Retter des US Dollar sein. Die USA haben den fruchtbarsten Nährboden für eine solche Änderung des Systems, da sie heute schon die meiste Hashrate, das größte geistige Eigentum und Innovation, als auch das meiste Kapital bündeln. Die USA hätten also in der Theorie ein sehr großes Interesse daran, Bitcoin als Lösung und zur Stützung ihres globalen Finanzmonopols zu adaptieren. ### Zwei Theorien in zwei entgegengesetzte Richtungen 👈👉 Auf der einen Seite sehen wir ein Argument, weshalb den USA daran gelegen wäre, das aktuelle System so lange wie möglich aufrechtzuerhalten und dem alten Mann auf Krücken unter die Arme zu greifen. Auf der anderen Seite besteht ein Argument dafür, dass die USA ein gesteigertes Interesse daran haben sollten, das alte System so schnell wie möglich hinter sich zu lassen und die Pole Position, die die USA im Bereich Bitcoin haben - ohne Regierungs-seitig was dafür getan zu haben - für sich zu nutzen, um dem alten Mann auf Krücken zu einer Verjüngung zu verhelfen. <img src="https://blossom.primal.net/d448258356093ddc5030b4077d63262b1c9c2e94360f65e10862b43fb3996b83.gif"> Es ist schwierig einzuschätzen, welchen Weg die USA gehen werden, da es immer noch keinen allgemeinen Konsens darüber gibt, wie Bitcoin zu betrachten ist. Der kürzlich vorgestellte DAME-Gesetzesentwurf ([Digital Asset Mining Energy excise tax](https://home.treasury.gov/system/files/131/General-Explanations-FY2024.pdf)), also eine Verbrauchssteuer für Miner, der Biden-Regierung, würde von Bitcoin-Mining-Unternehmen verlangen, eine 30% Steuer auf die Stromkosten zu zahlen, die für das Mining von Bitcoin verwendet werden. Ein solches Gesetz würde die Mining Industrie aus dem Land drängen, da Miner heute schon auf sehr knappen Margen operieren und somit unprofitabel würden. Dies gleicht einer Bestrafung von Unternehmen für das Streben nach Innovation und technologischem Fortschritt. Auf der anderen Seite gibt es aber auch die Ansicht, Bitcoin müsse ins Land geholt werden, da man es dort am besten kontrollieren kann, ganz nach dem Motto "Halte deine Freunde nah und deine Feinde noch näher". So z.B. Carole House, ehemalige Direktorin für Cybersicherheit des Nationalen Sicherheitsrates des Weißen Hauses. Sie sprach bei einem Event an der Universität von Princeton und sagte "sie würde lieber mehr Hashrate in den USA sehen, damit sie Miner zwingen können, das Netzwerk zu zensieren" und dass es "nicht nur darum ginge, Minern zu sagen, dass sie bestimmte Transaktionen nicht in Blöcke einbauen, sondern auch nicht auf Blöcken mit nicht konformen Transaktionen aufzubauen, damit diese Transaktionen nirgendwo in der Kette ankommen". Wir sehen also, dass es selbst zwischen den Gegnern von Bitcoin keinen endgültigen Konsens gibt, wie das Thema in Zukunft angegangen werden soll. Da ist esnicht verwunderlich, dass auf Ebene eines Paradigmenwechsels, den die Adaption von Bitcoin von Seiten der Notenbank bedeuten würde, noch unklarer ist. Für mich sind beide Erklärungen logisch. Allerdings wissen wir nur zu gut, dass Regierungen es manchmal nicht so mit Logik und Vernunft haben. 🫳🎤 --- In diesem Sinne, 2... 1... Risiko!‌ 

@ 207ad2a0:e7cca7b0

*Quick context: I wanted to check out Nostr's longform posts and this blog post seemed like a good one to try and mirror. It's originally from my [free to read/share attempt to write a novel](https://untitlednovel.dns7.top/contents/), but this post here is completely standalone - just describing how I used AI image generation to make a small piece of the work.* Hold on, put your pitchforks down - outside of using Grammerly & Emacs for grammatical corrections - not a single character was generated or modified by computers; a non-insignificant portion of my first draft originating on pen & paper. No AI is ~~weird and crazy~~ imaginative enough to write like I do. The only successful AI contribution you'll find is a single image, the map, which I heavily edited. This post will go over how I generated and modified an image using AI, which I believe brought some value to the work, and cover a few quick thoughts about AI towards the end. Let's be clear, I can't draw, but I wanted a map which I believed would improve the story I was working on. After getting abysmal results by prompting AI with text only I decided to use "Diffuse the Rest," a Stable Diffusion tool that allows you to provide a reference image + description to fine tune what you're looking for. I gave it this Microsoft Paint looking drawing:  and after a number of outputs, selected this one to work on:  The image is way better than the one I provided, but had I used it as is, I still feel it would have decreased the quality of my work instead of increasing it. After firing up Gimp I cropped out the top and bottom, expanded the ocean and separated the landmasses, then copied the top right corner of the large landmass to replace the bottom left that got cut off. Now we've got something that looks like concept art: not horrible, and gets the basic idea across, but it's still due for a lot more detail.  The next thing I did was add some texture to make it look more map like. I duplicated the layer in Gimp and applied the "Cartoon" filter to both for some texture. The top layer had a much lower effect strength to give it a more textured look, while the lower layer had a higher effect strength that looked a lot like mountains or other terrain features. Creating a layer mask allowed me to brush over spots to display the lower layer in certain areas, giving it some much needed features.  At this point I'd made it to where I felt it may improve the work instead of detracting from it - at least after labels and borders were added, but the colors seemed artificial and out of place. Luckily, however, this is when PhotoFunia could step in and apply a sketch effect to the image.  At this point I was pretty happy with how it was looking, it was close to what I envisioned and looked very visually appealing while still being a good way to portray information. All that was left was to make the white background transparent, add some minor details, and add the labels and borders. Below is the exact image I wound up using:  Overall, I'm very satisfied with how it turned out, and if you're working on a creative project, I'd recommend attempting something like this. It's not a central part of the work, but it improved the chapter a fair bit, and was doable despite lacking the talent and not intending to allocate a budget to my making of a free to read and share story. #### The AI Generated Elephant in the Room If you've read my non-fiction writing before, you'll know that I think AI will find its place around the skill floor as opposed to the skill ceiling. As you saw with my input, I have absolutely zero drawing talent, but with some elbow grease and an existing creative direction before and after generating an image I was able to get something well above what I could have otherwise accomplished. Outside of the lowest common denominators like stock photos for the sole purpose of a link preview being eye catching, however, I doubt AI will be wholesale replacing most creative works anytime soon. I can assure you that I tried numerous times to describe the map without providing a reference image, and if I used one of those outputs (or even just the unedited output after providing the reference image) it would have decreased the quality of my work instead of improving it. I'm going to go out on a limb and expect that AI image, text, and video is all going to find its place in slop & generic content (such as AI generated slop replacing article spinners and stock photos respectively) and otherwise be used in a supporting role for various creative endeavors. For people working on projects like I'm working on (e.g. intended budget $0) it's helpful to have an AI capable of doing legwork - enabling projects to exist or be improved in ways they otherwise wouldn't have. I'm also guessing it'll find its way into more professional settings for grunt work - think a picture frame or fake TV show that would exist in the background of an animated project - likely a detail most people probably wouldn't notice, but that would save the creators time and money and/or allow them to focus more on the essential aspects of said work. Beyond that, as I've predicted before: I expect plenty of emails will be generated from a short list of bullet points, only to be summarized by the recipient's AI back into bullet points. I will also make a prediction counter to what seems mainstream: AI is about to peak for a while. The start of AI image generation was with Google's DeepDream in 2015 - image recognition software that could be run in reverse to "recognize" patterns where there were none, effectively generating an image from digital noise or an unrelated image. While I'm not an expert by any means, I don't think we're too far off from that a decade later, just using very fine tuned tools that develop more coherent images. I guess that we're close to maxing out how efficiently we're able to generate images and video in that manner, and the hard caps on how much creative direction we can have when using AI - as well as the limits to how long we can keep it coherent (e.g. long videos or a chronologically consistent set of images) - will prevent AI from progressing too far beyond what it is currently unless/until another breakthrough occurs.

@ a012dc82:6458a70d

**Table Of Content** - The Lazarus Group's Cryptocurrency Holdings - A Significant Drop in Holdings - No Privacy Coins in Sight - Underreported Holdings? - Previous Attacks and Thefts - Warnings and Threats - Conclusion - FAQ In the ever-evolving world of cryptocurrencies, security breaches and cyber heists have become alarmingly common. One name that frequently emerges in relation to these digital thefts is the Lazarus Group. This North Korean hacking collective has been linked to a series of high-profile cyber-attacks, amassing a significant amount of cryptocurrency in the process. This article delves deep into the group's activities, their holdings, and the implications of their actions on the crypto world. **The Lazarus Group's Cryptocurrency Holdings** The Lazarus Group, originating from North Korea, has made headlines with its vast cryptocurrency holdings. Recent reports suggest that this hacking collective has a digital treasure chest worth around $47 million. Bitcoin, the most popular and valuable cryptocurrency, forms the bulk of their holdings, with an estimated value of $42.5 million. In addition to Bitcoin, the group has diversified its holdings with Ether (ETH) valued at $1.9 million, BNB (BNB) worth $1.1 million, and a mix of stablecoins, primarily Binance USD (BUSD), which amounts to approximately $640,000. **A Significant Drop in Holdings** While the current figures are staggering, there has been a noticeable decline in the Lazarus Group's cryptocurrency assets. Data indicates that their holdings were valued at $86 million as of September 6. This value plummeted in the aftermath of the Stake.com hack, an event that saw the Lazarus Group as a prime suspect. Dune Analytics, a data monitoring platform, has been keeping a close eye on the group's activities. They have identified 295 wallets associated with the Lazarus Group, information corroborated by agencies like the FBI and the OFAC. **No Privacy Coins in Sight** For a hacking group that thrives on anonymity, it's surprising to note the absence of privacy coins in their portfolio. Coins such as Monero (XMR), Dash (DASH), and Zcash (ZEC), known for their enhanced privacy features, are conspicuously missing from their holdings. However, this hasn't deterred the group from continuing their operations. Their crypto wallets, devoid of privacy coins, have seen consistent activity, with the latest transaction recorded on September 20. **Underreported Holdings?** The figures mentioned might just be the tip of the iceberg. According to 21.co, the Lazarus Group's actual cryptocurrency holdings could be much higher than what's currently reported. This assertion is based on the data available to the public, suggesting that the group might have undisclosed assets hidden away. **Previous Attacks and Thefts** The Lazarus Group's foray into the crypto world has been marked by a series of attacks and thefts. They were the masterminds behind the CoinEx exchange hack, which resulted in losses exceeding $55 million. Their nefarious activities don't end there. The FBI has linked them to other significant breaches, including those targeting Alphapo, CoinsPaid, and Atomic Wallet. These attacks, in 2023 alone, saw the group walking away with more than $200 million. However, there's a silver lining. Chainalysis reports indicate a decline in crypto thefts by hackers associated with North Korea, with an 80% drop recorded from 2022. **Warnings and Threats** The digital realm remains under the shadow of the Lazarus Group. Recent alerts from U.S. federal authorities have highlighted the group's potential to target critical sectors, including the U.S. healthcare and public health domains. These warnings underscore the group's capabilities and the persistent threat they pose. **Conclusion** The Lazarus Group's activities serve as a stark reminder of the vulnerabilities inherent in the digital space. Their vast cryptocurrency holdings, accumulated through a series of hacks and breaches, highlight the need for enhanced security measures in the crypto world. As the digital landscape continues to evolve, it's imperative for stakeholders to remain vigilant, ensuring that their assets are protected from such sophisticated threats. The story of the Lazarus Group is not just about a hacking collective's exploits but a call to action for the broader crypto community. **FAQ** **Who is the Lazarus Group?** The Lazarus Group is a North Korean hacking collective known for its high-profile cyber-attacks and significant cryptocurrency holdings. **How much cryptocurrency does the Lazarus Group hold?** The group is reported to have amassed around $47 million in cryptocurrency, with Bitcoin forming the majority of their holdings. **Were there any recent significant drops in their holdings?** Yes, their holdings saw a decline from $86 million as of September 6, especially after the Stake.com hack. **Does the Lazarus Group hold any privacy coins?** Surprisingly, the group does not hold any known privacy coins like Monero, Dash, or Zcash. **Have there been any warnings about the Lazarus Group's activities?** U.S. federal authorities have issued warnings about the group's potential to target sectors like U.S. healthcare and public health. **That's all for today** **If you want more, be sure to follow us on:** **NOSTR: croxroad@getalby.com** **X: [@croxroadnews](https://x.com/croxroadnewsco)** **Instagram: [@croxroadnews.co](https://www.instagram.com/croxroadnews.co/)** **Youtube: [@croxroadnews](https://www.youtube.com/@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.*

@ dd664d5e:5633d319

_Ingredients_ * 1 kg of pork roast with rind, such as shoulder or a lean belly * 1 bottle of beer, light or dark * chopped German-style mirepoix (best combination, for this recipe, includes celery root, carrot, red onion, and leeks) * salt, pepper, nutmeg * 1 diced garlic clove _Directions_ 1. Spread the vegetables on the bottom of the roasting pan. 2. Pour half the beer over the roast. (Drink the other half.) 3. Season the meat, to taste. 4. Roast the meat at 180 °C, until done (depends upon the weight of the roast). 5. Remove the meat from the oven, and wrap in aluminum foil. 6. Pour 2-3 cups of water into the roasting pan. 7. Pour/scrape everything from the pan into a sieve over a sauce pot. 8. Press the vegetables against the sieve, with the back of a spoon, to ensure that you get all that good dripping flavor into the sauce. 9. Defat the sauce with a grease separator, then pour it back into the pot. 10. Thicken the sauce, slightly (it should remain slightly watery, and not turn into a gravy), according to your usual method. 11. Open the foil and slice the roast. 12. Serve with the sauce.        

@ 2063cd79:57bd1320

Der Mempool ist voll. Voller als das Rosenrot an Heiligabend. Dies bedeutet in erster Linie hohe Transaktionsgebühren für On-Chain-Transaktionen. Doch auch während der Mempool verstopft ist, wie der Gotthardtunnel in der Urlaubssaison, bietet Bitcoins Layer 2 Lösung - das Lightning Netzwerk - schnelle und günstige Zahlungen, um Bitcoins Skalierungsgrenze zu überbrücken. Gerade in Zeiten von hohen Transaktionsgebühren und einem Mempool, der voller ist als Til Schweiger nach 13 Uhr, werden kleine Zahlungen, die On-Chain getätigt werden, immer unökonomischer und Lightning Zahlungen dadurch attraktiver. <img src="https://blossom.primal.net/d5a615c03e7b08217695478085bd6ee011fbe3b63b2bbae819f91fbecb456084.png"> Doch nicht jede/r Nutzer//in möchte auch gleichzeitig eine Lightning-Node betreiben, um in den Genuss zu kommen Lightning zu benutzen. In diesem Fall bieten Lightning Service Provider (LSP) und verschiedene Apps Abhilfe. Es gibt viele verschiedene Anbieter und viele verschiedene Varianten das gleiche Problem umzusetzen: Der/die Nutzer//in möchte mit möglichst wenig Aufwand Lightning benutzen und muss dazu seine/ihre Lightning Wallet zunächst erstmal mit (On-Chain) Bitcoin füttern. Das Umwandeln von L1 Bitcoin zu L2 Bitcoin übernimmt dann die Software. Aber auch andersherum kann es sein, dass Nutzer//innen viele Lightning Zahlungen erhalten und die gesammelten Sats gerne in L1 Bitcoin tauschen möchten. Um diesen Tauschvorgang abzuwickeln gibt es verschiedene Methoden. Eine dieser Methoden sind sogenannte Submarine Swaps. --- Erstmal vorab: Bitcoin ist Bitcoin, ob On-Chain auf der Basisschicht (Layer 1), oder Off-Chain auf der zweiten Schicht (Layer 2) in Form von Lightning. Man könnte es mit Bargeld vergleichen: Geld auf dem Konto kann problemlos hin- und hergeschoben werden, man kann es auf andere Konten schieben, Überweisungen tätigen oder Depots bezahlen. Wenn man allerdings Bargeld in der Tasche haben will, muss man eine Brücke von der digitalen Kontenwelt in die analoge Bargeldwelt schlagen. Diese Brücke stellen Bankautomaten, Supermarktkassen oder Bankschalter dar, oder eben jede Stelle, an der man Bargeld abheben kann. Das Geldmittel bleibt dabei das gleiche, es verändert nur seinen Aggregatzustand. So kann man Bitcoin in Lightning auch beschreiben, denn Bitcoin bleibt Bitcoin, es hat nur seinen Aggregatzustand temporär verändert. Auf der einen Seite sind also On-Chain-Transaktionen oder Layer 1 (L1) Zahlungen, auf der anderen Seite werde ich von Off-Chain- oder Lightning-Zahlungen oder Layer 2 (L2) und Sats sprechen. <img src="https://blossom.primal.net/bb2f398cfcf76a7c971897d0e0a4f247d58236aa13a647a0869c35fe09a96474.gif"> ### Refresher Im Bitcoin Stack gibt es verschiedene aufeinander aufbauende Layer und Bitcoin - das Netzwerk - bildet dabei die Grundschicht, das Fundament, auf dem weitere Schichten aufbauen. Bitcoin braucht zusätzlichen Protokolle und Netzwerke, um einen hohen Transaktionsdurchsatz und zukünftiges Wachstum zu gewährleisten. Das bedeutet ganz einfach, dass die Leistung und Geschwindigkeit der Blockchain und der darauf erfolgenden Transaktionen nicht darunter leidet, wenn mehr Nutzer//innen und höhere Transaktionsmengen hinzukommen. Denn Bitcoin selbst ist nicht skalierbar. Die Blockgröße ist begrenzt, die Blockzeit wird auf 10 Minuten geeicht und zusätzlich aufgewendete Energie verschnellert die Erstellung neuer Blöcke nicht, macht sie nicht günstiger und auch nicht effizienter. Layer 2, also die zweite Schicht, beschreibt Anwendungen und Protokolle, die auf der Basis des ersten Layers, der originären Bitcoin Blockchain, aufbauen. Diese Anwendungen sind unabhängig von Bitcoin insofern, als dass sie den Ablauf und den Code von Bitcoin nicht direkt beeinflussen, das Bitcoin Protokoll bleibt dabei unangetastet. Allerdings erlauben sie dem/der Nutzer//in einen Umgang mit Bitcoin und Anwendungsmöglichkeiten, die über die nativen Funktionen von Bitcoin hinausgehen und fördern somit das Ökosystem rund um Bitcoin. Lightning, die bekannteste Layer 2 Lösung, basiert auf einem Peer-to-Peer-System zur Durchführung von Mikrozahlungen über ein Mesh-Netzwerk von bidirektionalen Zahlungskanälen. Genau wie bei Bitcoin können bei Lightning eigene Netzwerkknoten betrieben und somit eigene Zahlungskanäle verwaltet werden. <img src="https://blossom.primal.net/575c29009a14631cd9e759aafa54d4dd00626eda9c29b59246499765c7b6f573.png"> Diese Zahlungskanäle ermöglichen es den Teilnehmer//innen, sich gegenseitig Geld zu überweisen, ohne alle ihre Transaktionen auf der Bitcoin-Blockchain öffentlich machen zu müssen. Zahlungskanäle werden geöffnet und die Blockchain sperrt in diesem Moment die verwendeten Bitcoins für die weitere Verwendung, und in Lightning wird nur der Gegenwert dieser Bitcoins gehandelt. Immer wenn Zahlungskanäle geschlossen werden, werden diese Transaktionen auf die Bitcoin Blockchain übertragen. Lightning-Zahlungen können auch über direkte Kanäle hinaus an andere Teilnehmer gesendet werden, da viele aufeinanderfolgende Kanäle miteinander verkettet werden können und sich eine Zahlung den besten Weg durch die Knotenpunkte dieses weitverzweigten P2P-Netzwerks sucht. Anders als bei Bitcoin, muss der/die Betreiber//in eines Lightning-Knotens aktiv seine/ihre Kanäle und damit seine/ihre Liquidität managen. Es muss immer genug inbound (eingehend) und genug outbound (ausgehend) Liquidität zur Verfügung stehen, um Zahlungen sowohl zu tätigen als auch zu erhalten. Dies erfordert ein gewisses Verständnis und einen Verwaltungsaufwand, den nicht jede/r Nutzer//in bereit ist aufzubringen, da Kanäle (noch) jederzeit auf ihre Balance überwacht werden müssen. <img src="https://blossom.primal.net/81519057be175dbb7178f011a8bca7d553a44c7c98094b46dc8e2bcec7cddd84.jpg"> Submarine Swaps erleichtern die Verwaltung der Liquidität dieser Lightning-Knoten. Sie können dabei helfen, eingehende Liquidität zu erhalten und Kanäle wieder aufzufüllen, wenn die Kapazität erschöpft ist, oder Tageseinnahmen in On-Chain Bitcoin umzuwandeln, um diese in Eigenverwahrung zu schützen. Das Hauptproblem bei den verschiedenen Schichten im Bitcoin-Stack besteht darin, dass Transaktionen zwischen On-Chain-Bitcoin-Adressen (L1) und Off-Chain-Lightning-Adressen (L2) nicht direkt kompatibel sind. Man kann nicht einfach eine Lightning-Transaktion an jemanden senden, der Lightning nicht verwendet, sondern "nur" Bitcoin, oder umgekehrt. Diese Trennung schafft eine Barriere zwischen der Bitcoin-Blockchain und den Layer 2 Protokollen. Submarine Swaps ermöglichen den direkten Austausch von Vermögenswerten zwischen Bitcoin (L1) und dem Lightning-Netzwerk (L2). Submarine Swaps sind eine spezielle Art von Atomic Swaps, die ohne Verwahrungsrisiko oder Counterparty Risk durchgeführt werden können. ### Atomic Swaps Atomic Swaps wurden eigentlich erfunden, um den Handel von Vermögenswerten zwischen zwei Blockchains mit unterschiedlichen Coins durchzuführen, heute bekannt als On-Chain Atomic Swap. Ein Beispiel wäre der direkte Austausch von Dogecoin oder Litecoin mit Bitcoin. Mit der Entwicklung und Einführung von Layer 2 Protokollen wurden Atomic Swaps schnell auch für Off-Chain-Transaktionen verwendet, ergo Off-Chain Atomic Swaps. <img src="https://blossom.primal.net/297b4ca0897b40b0df35980e1a1247b8c1ff64a82a003574ee484908113b98d1.gif"> Was bedeutet dies in der Praxis? Ganz einfach dargestellt nehmen wir an, Person 1 und Person 2 wollen Bitcoin gegen Lightning-Bitcoin eintauschen. Person 1 hat einen bitcoin und bevorzugt 100.000.000 Sats im Lightning Netzwerk (🔗➡️⚡), da sie oft viele kleine Transaktionen tätigt, Person 2 hat 100.000.000 Sats im Lightning Netzwerk und würde gerne in On-Chain-Bitcoin tauschen (⚡➡️🔗), um ihr Erspartes in Selbstverwahrung zu verschieben. Wir nehmen auch an, dass Person 1 und Person 2 keine Lightning-Nodes oder Apps besitzen, die diesen Vorgang für sie automatisch übernehmen, es soll hier einfach die Transaktion verdeutlicht werden. Um den Austausch durchzuführen, erstellt Person 2 zunächst eine Geheimzahl, einen Wert. Aus diesem Wert generiert sie dann auch einen Hash und sendet diesen Hash an Person 1, ohne den verborgenen Wert zu teilen. Dann erstellt Person 2 eine Transaktion und sperrt 100.000.000 Sats. Diese Sats können nur auf zwei Arten entsperrt werden. Entweder kann Person 1 mit Hilfe des ihr bekannten Werts die Sats einfordern, oder Person 2 kann ihre Sats nach Ablauf eines festgelegten Zeitraums (Anzahl von Blöcken) wieder zurückholen. Im Moment können weder Person 1 noch Person 2 die Sats beanspruchen, da Person 1 den geheimen Wert nicht kennt (nur den Hash), und Person 2 kann die Sats nicht beanspruchen, da der Zeitraum noch nicht verstrichen ist. Diese zeitlich beschränkten Verträge nennt man Hash Time-Locked Contracts (HTLC). Gleichzeitig erstellt Person 1 ihre Transaktion, die einen bitcoin sperrt. Der in dieser Transaktion gesperrte bitcoin kann auch wiederum nur auf zwei Arten eingefordert werden. Entweder kann Person 2 mit Hilfe des bekannten Werts den bitcoin einfordern, oder Person 1 holt sich ihren bitcoin zurück, nachdem der festgelegte Zeitraum verstrichen ist. Beide Parteien haben also ihren jeweiligen Gegenwert für sich selbst gesperrt und für den anderen freigegeben, aber nur solange die Transaktion von beiden Seiten (in dem festgelegten Zeitraum) durchgeführt wird. Denn in dem Moment, in dem Person 2 den bitcoin einfordert, stellt sie Person 1 auch ihren geheimen Wert zur Verfügung, sodass sie die 100.000.000 Sats ausgezahlt bekommt. Für diese Transaktion zwischen zwei Parteien bedarf es keines Dritten. Lediglich die genutzten Smart-Contracts begünstigen diesen vertrauenslosen Handel, einen Atomic Swap zwischen dem Bitcoin-On-Chain und dem Bitcoin-Off-Chain-Lightning-Netzwerk. <img src="https://blossom.primal.net/17bc1255123e24109bdbd5d224c42e11283bb287b334fb29a03d8076dd98f5ca.gif"> ### Zurück zu Submarine Swaps Ich möchte nochmal hervorheben, dass es sich um eine sehr vereinfachte Darstellung der Funktionsweise handelt, allerdings wollte ich auf abstrakte WEise erklären, wie diese SmartContracts funktionieren, ohne auf dem gleichen Protokoll zu laufen. Was bei Lightning-Lösungen zu Reibungen führt, ist das Verwalten von Kanälen, denn diese können aufgebraucht werden oder müssen neu ausbalanciert werden, wenn Nutzer//innen überwiegend Zahlungen empfangen oder versenden. Die größten Einschränkungen der aktuellen Lightning-Implementierung stellen das Öffnen und Schließen dieser Kanäle dar, da es dafür Transaktionsgebühren bedarf und eine gewisse Menge Bitcoin eingefroren wird, um einen Kanal zu öffnen. Dies bedeutet, dass ein Problem zwischen Lightning und On-Chain Bitcoin darin besteht, Gelder in und aus den beiden Umgebungen zu bekommen, ohne Kanäle öffnen und schließen zu müssen (um Kosten und Zeit zu sparen). Des Weiteren können Kanäle aufgebraucht werden, wenn Zahlungen hauptsächlich abfließen und es müssen neue Kanäle geöffnet werden, um die Nutzung fortzusetzen, obwohl im Wesentlichen unbegrenzte Transaktionen innerhalb eines Kanals gesendet werden können, solange die Netto Ein- und Ausgänge relativ stabil bleiben. Die Verwaltung von Kanälen kostet On-Chain-Transaktionsgebühren und ist umso teurer, wenn der Mempool voller ist, als Johnny Depp nach der Trennung, was es unbequem, ineffizient und teuer macht, mehrere Kanäle wiederholt zu öffnen. <img src="https://blossom.primal.net/c40ef1a0669d1b43ac4bff65c1e2e5cf1c99e1e26563a4d8da800df90f26760c.jpg"> Submarine Swaps ermöglichen es, On-Chain Bitcoin in Off-Chain Bitcoin (🔗➡️⚡)- oder umgekehrt (⚡➡️🔗) - umzuwandeln. Sie basieren auf der gleichen Art von Bitcoin Smart-Contract wie Atomic Swaps, HTLCs, da diese sowohl On-Chain- als auch Off-Chain-Transaktionen umfassen können. Der Vorteil bei dieser Lösung liegt darin, dass HTLCs auch bei der Verkettung von Kanälen und Zahlungen verwendet werden und somit das Hauptkonstrukt für den Geldtransfer über das Lightning Netzwerk bilden. So wird Nutzer//innen und Wallet-Anbietern ermöglicht, Gelder vom Bitcoin-L1-Netzwerk direkt an das Lightning-Netzwerk oder andersrum vom Lightning-Netzwerk an das Bitcoin-L1-Netzwerk zu senden, ohne einen Drittanbieterdienst zu nutzen. Damit bergen Submarine Swaps kein Counterparty Risiko und können ohne zusätzliche Barrieren wie Hintergrundprüfungen oder vertragliche Vereinbarungen durchgeführt werden. Entweder tauschen die beiden Parteien erfolgreich ihre Vermögenswerte aus, oder der Tausch findet nach Ablauf des festgelegten Zeitraums nicht statt. Aber zu keinem Zeitpunkt ist eine der Parteien in der Lage, mit den Einlagen der anderen Seite davonzukommen. <img src="https://blossom.primal.net/99b53dee76794afe26e257118550e3a164a72b31514e6464514a46022533dac0.gif"> Die im Submarine Swap verwendete Form von HTLC-Smart-Contracts nennt man auch Swap-Provider und kann von einem Drittanbieter verwaltet werden, ist aber ein Smart Contract auf der Blockchain.Bekannte Implementierungen von Submarine Swaps direkt ins Endprodukt sind Lightning Wallets, wie Muun oder Breez. #### Muun Die Muun-Wallet ist notorisch dafür bekannt, eigentlich kein "echtes" Lightning-Wallet zu sein, denn alle Guthaben werden On-Chain in der Blockchain verwaltet. Die Muun-Wallet öffnet keine Kanäle für jeden Nutzer und verwendet stattdessen Submarine Swaps für Lightning-Zahlungen, was bedeutet, dass jedes Mal, wenn gesendet oder empfangen wird, eine On-Chain-Transaktion durchgeführt werden muss (und somit auch On-Chain-Gebühren anfallen). Dies bedeutet auch, dass Muun erstmal in Vorkasse geht, um schnelle Zahlungen aufrecht zu erhalten und ggf. Lightning-Zahlungen auf eine Blockbestätigung warten müssen, wenn Muun entscheidet, dass diese Transaktion ein zu hohes Risiko hat, unbestätigt ersetzt zu werden. Der Vorteil dieses Ansatzes liegt darin, dass ein einheitlicher Kontostand dargestellt werden kann, der sowohl On-Chain- als auch Lightning-Transaktionen ermöglicht. Allerdings ist es nicht besonders einleuchtend, warum man sowohl L1 und L2 in einer Wallet verbinden muss, vor allem, wenn es bedeutet, dass sowohl Anbieter als auch Kunden potenziell höheren Gebühren ausgesetzt sind. #### Breez Ein weiterer Lightning-Wallet-Anbieter ist Breez. Auch hier werden Submarine Swaps genutzt, allerdings nur um Liquidität zu erzeugen. Denn obwohl L1-Bitcoin Zahlungen in Breez gespeichert werden können, bietet die Wallet die Möglichkeit, On-Chain-Bitcoin-Gelder über Submarine Swaps auf die Lightning-Wallet zu verschieben (🔗➡️⚡). Submarine Swaps werden in erster Linie verwendet, um eine einfache Benutzeroberfläche bereitzustellen. Das ermöglicht Breez vor allem auch, weniger Kanäle für seine Nutzer zu verwalten. --- Das Lightning-Netzwerk, aber auch alle andere Layer 2 Lösungen, sind unabdinglich, wenn es darum geht Bitcoin als Zahlungsmittel möglichst reibungslos, benutzfreundlich und vorallem günstig zu gestalten. Allerdings besteht immernoch ein Reibungspunkt zwischen L1 und L2 und dem verschieben von Geldwerten zwischen diesen beiden Schichten. Submarine Swaps sind eine Methode diese Reibung zu verringern, da sie Entwicklern die Möglichkeit bieten benutzerfreundliche Konzepte umzusetzen, die es ermöglichen Lightning-Wallets und -Services so zu programmieren, dass dem/der Nutzer//in der Transfer von Aggregatszuständen nicht bewusst wird. Natürlich besteht auch die Möglichkeit diese Swaps selbst durchzuführen. Dafür gibt es viele Dienste, mit denen man einen Handel (Swap) durchführen kann. Einige Anbieter können sogar genutzt werden, um ein wenig Profit zu erzielen, denn manche Anbieter lassen sich Vorabliquidität in Form von On-Chain Bitcoin etwas kosten. 🫳🎤 --- In diesem Sinne, 2... 1... Risiko!‌ 

@ a012dc82:6458a70d

**Table Of Content** - The Anticipation of Bitcoin Halving - Progress Status: 85% Complete - Long-Term Holders and Their Influence - Analyzing the Supply Trends - What History Tells Us - Conclusion - FAQ In the dynamic world of cryptocurrency, certain events stand out as pivotal moments that can shape the trajectory of the market. One such event is the Bitcoin halving, a process that reduces the rewards for mining Bitcoin by half, effectively slowing down the rate at which new Bitcoins are created. As we approach the next halving, scheduled for mid-2024, there's a palpable sense of anticipation among investors and market watchers. This article delves into the current status of the halving process and examines the role of long-term holders in influencing market trends. **The Anticipation of Bitcoin Halving** The cryptocurrency market is on the brink of a significant phase. With the next Bitcoin halving anticipated in mid-2024, the event is garnering immense attention from investors. Historical patterns suggest that a full-fledged bull market might not commence until the following year. **Progress Status: 85% Complete** Recent data reveals that the Bitcoin halving process is 85% complete. Concurrently, the supply of Bitcoin held by long-term holders (LTHs) is nearing its all-time high (ATH). In past cycles, such a scenario indicated the proximity of a macro bottom, which was then succeeded by the onset of a new cycle. **Long-Term Holders and Their Influence** The amount of Bitcoin supply in the possession of long-term holders has traditionally served as a reliable gauge for the cryptocurrency market's health. This metric has shown an inverse correlation with Bitcoin's long-term price trajectory. During market lows, long-term hodlers tend to keep their assets stationary. The most significant surge in LTH possession typically transpires during intense bear markets. This is when steadfast investors, despite witnessing Bitcoin's price plummet, choose not to sell. Their conviction lies in the belief that the market will eventually recover, making their investments profitable. Conversely, during a bull market's unraveling, the spike in Bitcoin's price prompts LTHs to become increasingly inclined to sell their assets for profit. Historically, every major bull market has seen a sharp decline in the supply held by LTHs. This leads to the coins transitioning to short-term holders (STHs), who are motivated by quick profit prospects. **Analyzing the Supply Trends** A cryptocurrency analyst showcased a chart depicting the Bitcoin supply in the hands of long-term holders. The chart reveals that the current BTC supply ratio held by LTHs is nearing its ATH of 76%, a benchmark set in late 2015 before the second halving. Historically, this indicator peaked several months before each Bitcoin halving. Following this peak, the supply held by LTHs would typically plateau until several months post the subsequent halving. A significant drop in this metric was observed roughly six months after the event, marking the advent of a mature bull market. **What History Tells Us** If past patterns hold true, the cryptocurrency market might experience a sideways trend for approximately a year. The upcoming Bitcoin halving in mid-April 2024 might not have an immediate influence on Bitcoin's price. Its repercussions might only manifest in the last quarter of 2024 and continue into 2025. This forecast aligns with the trends observed in the supply chart of long-term holders. The indicator is on the verge of reaching its ATH and might require around 12 months to reverse its trajectory, transitioning into a distribution phase. The commencement of LTHs selling post the Bitcoin halving could be one of the early indicators of a budding cryptocurrency bull run. **Conclusion** The Bitcoin halving is more than just a technical event; it's a significant milestone that has historically influenced market dynamics and investor behavior. As we inch closer to the next halving, the role of long-term holders becomes increasingly crucial. Their actions, whether holding steadfastly or choosing to sell, can set the tone for the market's direction in the subsequent months. While history offers insights, the ever-evolving nature of the cryptocurrency landscape means that nothing is set in stone. Investors and enthusiasts alike should remain vigilant, informed, and prepared for the myriad possibilities the future holds. **FAQ** **When is the next Bitcoin halving expected?** The next Bitcoin halving is anticipated to occur in mid-2024. **How does the halving impact long-term holders?** Historically, as the halving approaches, the supply of Bitcoin held by long-term holders (LTHs) nears its all-time high, influencing market trends and price trajectories. **What does the current data suggest about the halving process?** Current data indicates that the Bitcoin halving process is 85% complete, with the supply held by LTHs nearing its all-time high. **How has Bitcoin halving influenced market dynamics in the past?** In previous cycles, the approach of a halving event signaled the proximity of a macro bottom, followed by the early phase of a new market cycle. **That's all for today** **If you want more, be sure to follow us on:** **NOSTR: croxroad@getalby.com** **X: [@croxroadnews](https://x.com/croxroadnewsco)** **Instagram: [@croxroadnews.co](https://www.instagram.com/croxroadnews.co/)** **Youtube: [@croxroadnews](https://www.youtube.com/@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.*

@ 3f770d65:7a745b24

New Year’s resolutions often feel boring and repetitive. Most revolve around getting in shape, eating healthier, or giving up alcohol. While the idea is interesting—using the start of a new calendar year as a catalyst for change—it also seems unnecessary. Why wait for a specific date to make a change? If you want to improve something in your life, you can just do it. You don’t need an excuse. That’s why I’ve never been drawn to the idea of making a list of resolutions. If I wanted a change, I’d make it happen, without worrying about the calendar. At least, that’s how I felt until now—when, for once, the timing actually gave me a real reason to embrace the idea of New Year’s resolutions. Enter [Olas](https://olas.app). If you're a visual creator, you've likely experienced the relentless grind of building a following on platforms like Instagram—endless doomscrolling, ever-changing algorithms, and the constant pressure to stay relevant. But what if there was a better way? Olas is a Nostr-powered alternative to Instagram that prioritizes community, creativity, and value-for-value exchanges. It's a game changer. Instagram’s failings are well-known. Its algorithm often dictates whose content gets seen, leaving creators frustrated and powerless. Monetization hurdles further alienate creators who are forced to meet arbitrary follower thresholds before earning anything. Additionally, the platform’s design fosters endless comparisons and exposure to negativity, which can take a significant toll on mental health. Instagram’s algorithms are notorious for keeping users hooked, often at the cost of their mental health. I've spoken about this extensively, most recently at Nostr Valley, explaining how legacy social media is bad for you. You might find yourself scrolling through content that leaves you feeling anxious or drained. Olas takes a fresh approach, replacing "doomscrolling" with "bloomscrolling." This is a common theme across the Nostr ecosystem. The lack of addictive rage algorithms allows the focus to shift to uplifting, positive content that inspires rather than exhausts. Monetization is another area where Olas will set itself apart. On Instagram, creators face arbitrary barriers to earning—needing thousands of followers and adhering to restrictive platform rules. Olas eliminates these hurdles by leveraging the Nostr protocol, enabling creators to earn directly through value-for-value exchanges. Fans can support their favorite artists instantly, with no delays or approvals required. The plan is to enable a brand new Olas account that can get paid instantly, with zero followers - that's wild. Olas addresses these issues head-on. Operating on the open Nostr protocol, it removes centralized control over one's content’s reach or one's ability to monetize. With transparent, configurable algorithms, and a community that thrives on mutual support, Olas creates an environment where creators can grow and succeed without unnecessary barriers. Join me on my New Year's resolution. Join me on Olas and take part in the [#Olas365](https://olas.app/search/olas365) challenge! It’s a simple yet exciting way to share your content. The challenge is straightforward: post at least one photo per day on Olas (though you’re welcome to share more!). [Download on iOS](https://testflight.apple.com/join/2FMVX2yM). [Download on Android](https://github.com/pablof7z/olas/releases/) or download via Zapstore. Let's make waves together.

@ e6817453:b0ac3c39

## The Rise of Graph RAGs and the Quest for Data Quality As we enter a new year, it’s impossible to ignore the boom of retrieval-augmented generation (RAG) systems, particularly those leveraging graph-based approaches. The previous year saw a surge in advancements and discussions about Graph RAGs, driven by their potential to enhance large language models (LLMs), reduce hallucinations, and deliver more reliable outputs. Let’s dive into the trends, challenges, and strategies for making the most of Graph RAGs in artificial intelligence. ## Booming Interest in Graph RAGs Graph RAGs have dominated the conversation in AI circles. With new research papers and innovations emerging weekly, it’s clear that this approach is reshaping the landscape. These systems, especially those developed by tech giants like Microsoft, demonstrate how graphs can: * **Enhance LLM Outputs:** By grounding responses in structured knowledge, graphs significantly reduce hallucinations. * **Support Complex Queries:** Graphs excel at managing linked and connected data, making them ideal for intricate problem-solving. Conferences on linked and connected data have increasingly focused on Graph RAGs, underscoring their central role in modern AI systems. However, the excitement around this technology has brought critical questions to the forefront: How do we ensure the quality of the graphs we’re building, and are they genuinely aligned with our needs? ## Data Quality: The Foundation of Effective Graphs A high-quality graph is the backbone of any successful RAG system. Constructing these graphs from unstructured data requires attention to detail and rigorous processes. Here’s why: * **Richness of Entities:** Effective retrieval depends on graphs populated with rich, detailed entities. * **Freedom from Hallucinations:** Poorly constructed graphs amplify inaccuracies rather than mitigating them. Without robust data quality, even the most sophisticated Graph RAGs become ineffective. As a result, the focus must shift to refining the graph construction process. Improving data strategy and ensuring meticulous data preparation is essential to unlock the full potential of Graph RAGs. ## Hybrid Graph RAGs and Variations While standard Graph RAGs are already transformative, hybrid models offer additional flexibility and power. Hybrid RAGs combine structured graph data with other retrieval mechanisms, creating systems that: * Handle diverse data sources with ease. * Offer improved adaptability to complex queries. Exploring these variations can open new avenues for AI systems, particularly in domains requiring structured and unstructured data processing. ## Ontology: The Key to Graph Construction Quality Ontology — defining how concepts relate within a knowledge domain — is critical for building effective graphs. While this might sound abstract, it’s a well-established field blending philosophy, engineering, and art. Ontology engineering provides the framework for: * **Defining Relationships:** Clarifying how concepts connect within a domain. * **Validating Graph Structures:** Ensuring constructed graphs are logically sound and align with domain-specific realities. Traditionally, ontologists — experts in this discipline — have been integral to large enterprises and research teams. However, not every team has access to dedicated ontologists, leading to a significant challenge: How can teams without such expertise ensure the quality of their graphs? ## How to Build Ontology Expertise in a Startup Team For startups and smaller teams, developing ontology expertise may seem daunting, but it is achievable with the right approach: 1. **Assign a Knowledge Champion:** Identify a team member with a strong analytical mindset and give them time and resources to learn ontology engineering. 2. **Provide Training:** Invest in courses, workshops, or certifications in knowledge graph and ontology creation. 3. **Leverage Partnerships:** Collaborate with academic institutions, domain experts, or consultants to build initial frameworks. 4. **Utilize Tools:** Introduce ontology development tools like Protégé, OWL, or SHACL to simplify the creation and validation process. 5. **Iterate with Feedback:** Continuously refine ontologies through collaboration with domain experts and iterative testing. So, it is not always affordable for a startup to have a dedicated oncologist or knowledge engineer in a team, but you could involve consulters or build barefoot experts. You could read about barefoot experts in my article : Even startups can achieve robust and domain-specific ontology frameworks by fostering in-house expertise. ## How to Find or Create Ontologies For teams venturing into Graph RAGs, several strategies can help address the ontology gap: 1. **Leverage Existing Ontologies:** Many industries and domains already have open ontologies. For instance: * **Public Knowledge Graphs:** Resources like Wikipedia’s graph offer a wealth of structured knowledge. * **Industry Standards:** Enterprises such as Siemens have invested in creating and sharing ontologies specific to their fields. * **Business Framework Ontology (BFO):** A valuable resource for enterprises looking to define business processes and structures. 1. **Build In-House Expertise:** If budgets allow, consider hiring knowledge engineers or providing team members with the resources and time to develop expertise in ontology creation. 2. **Utilize LLMs for Ontology Construction:** Interestingly, LLMs themselves can act as a starting point for ontology development: * **Prompt-Based Extraction:** LLMs can generate draft ontologies by leveraging their extensive training on graph data. * **Domain Expert Refinement:** Combine LLM-generated structures with insights from domain experts to create tailored ontologies. ## Parallel Ontology and Graph Extraction An emerging approach involves extracting ontologies and graphs in parallel. While this can streamline the process, it presents challenges such as: * **Detecting Hallucinations:** Differentiating between genuine insights and AI-generated inaccuracies. * **Ensuring Completeness:** Ensuring no critical concepts are overlooked during extraction. Teams must carefully validate outputs to ensure reliability and accuracy when employing this parallel method. ## LLMs as Ontologists While traditionally dependent on human expertise, ontology creation is increasingly supported by LLMs. These models, trained on vast amounts of data, possess inherent knowledge of many open ontologies and taxonomies. Teams can use LLMs to: * **Generate Skeleton Ontologies:** Prompt LLMs with domain-specific information to draft initial ontology structures. * **Validate and Refine Ontologies:** Collaborate with domain experts to refine these drafts, ensuring accuracy and relevance. However, for validation and graph construction, formal tools such as OWL, SHACL, and RDF should be prioritized over LLMs to minimize hallucinations and ensure robust outcomes. ## Final Thoughts: Unlocking the Power of Graph RAGs The rise of Graph RAGs underscores a simple but crucial correlation: improving graph construction and data quality directly enhances retrieval systems. To truly harness this power, teams must invest in understanding ontologies, building quality graphs, and leveraging both human expertise and advanced AI tools. As we move forward, the interplay between Graph RAGs and ontology engineering will continue to shape the future of AI. Whether through adopting existing frameworks or exploring innovative uses of LLMs, the path to success lies in a deep commitment to data quality and domain understanding. Have you explored these technologies in your work? Share your experiences and insights — and stay tuned for more discussions on ontology extraction and its role in AI advancements. Cheers to a year of innovation!

@ 6ad3e2a3:c90b7740

Maybe it’s because I watched [The Omen](https://www.youtube.com/watch?v=mDHisWRsE98) at way too young an age, or maybe it’s because the Book of Revelation’s “mark of the beast” allegory is playing out too literally for my tastes, but having already written about the [Second Coming](https://www.chrisliss.com/the_second_coming), it only follows I should speculate as to its counterpart. As I mentioned in [The Second Coming](https://www.chrisliss.com/the_second_coming), it’s dangerous to take the myths from our ancestors too literally. They used the symbols of their times, and we should be careful not to confuse the mental maps they had of their world with reality itself. That said, we should also not be dismissive — Mozart didn’t have fancy music editing software, but his genius using the modalities of the time was real. To the extent our forebears offered us their wisdom about the nature of man and forces within him we should endeavor to understand it. The technology and the symbols may have changed, but our essential nature is ever the same. Just as the second coming of Christ would free man from tyranny, the Antichrist would be its imposition. And just as I speculated that Jesus might not return in the form of a person, it’s likely neither would his counterpart. But if Satoshi, Bitcoin’s pseudonymous creator, can be the face, so to speak, representing the movement toward freedom and God, who and what would represent its antithesis? Let’s speculate. It would have to be someone charismatic, a person the multitudes would want to follow and in whom to look for reassurance. That eliminates villains du jour like Bill Gates, Klaus Schwab and Vladimir Putin. If that’s who Satan is sending, he’s not sending his best. What about Donald Trump? More charismatic, much more popular appeal. He’s a better choice than the first group, but while street-smart, he lacks refined intelligence and is too despised by wide swaths of the population. He’s also probably too old. For a while, I would have said Barack Obama was the best candidate, and even some hard-core right wingers agreed (it’s hilarious that this [claim was actually fact-checked](https://www.snopes.com/fact-check/anti-maim/)! — you can’t fact-check whether someone is the Antichrist!) Obama was relatively young, vital enough, popular, charismatic and intelligent. But he’s faded from view the last few years and has been a surprisingly inconsequential former president. That leaves one person of whom I can think with the qualities and societal position to fill the role. Regrettably it’s someone I like, but of course I would like the Antichrist! If he weren’t likable he wouldn’t be the Antichrist. That person is Elon Musk. Musk is the richest person in the world, among the most followed on Twitter, has a borderline worshipful fanbase and big plans for improving humanity. Musk is young enough, he’s probably a genius and considering a private takeover of arguably the world’s most important communications network. He’s also a big player in satellites, energy, transportation and [internet provision](https://twitter.com/elonmusk/status/1530234643219243009?s=20&t=olDDLEAUBFhreDIltCPkkQ). Musk says lots of sensible things with which I agree about free speech and rights. He is the perfect foil to the [out-of-central-casting](https://unlimitedhangout.com/2021/02/investigative-reports/schwab-family-values/) Schwab supervillain. As Edward Dowd speculated: But, you might object, if Musk is the foil to Schwab’s terrible ideas, isn’t that good for humanity? How could the Antichrist be for [free speech](https://twitter.com/elonmusk/status/1519036983137509376?s=20&t=olDDLEAUBFhreDIltCPkkQ), [renewable energy](https://twitter.com/elonmusk/status/1532030554778087424?s=20&t=olDDLEAUBFhreDIltCPkkQ), [population expansion](https://twitter.com/elonmusk/status/1529193812949614594?s=20&t=PIRRovWYIIUSQY5Uw7dFpw)? Again, of course, the Antichrist is going to have good, sensible ideas! But as Marshall McLuhan said, “[The medium is the message](https://www.brainyquote.com/quotes/marshall_mcluhan_157742).” Or, more aptly, the top-down messianic complex is the message. Musk has [long discussed saving humanity](https://twitter.com/elonmusk/status/1533410745429413888?s=20&t=gTsO-6ltAFVOs4SJP-VmpQ) via expansion into space and sustainable energy. But in order to save humanity, one must exert some control over it. While Musk’s Twitter takeover from the [ineffectual woke scolds](https://nypost.com/2022/05/18/good-riddance-to-the-ministry-of-truth-nina-jankowicz/) is getting most of the press, [this is also going on](https://finance.yahoo.com/news/elon-musk-says-neuralinks-brain-155733754.html): Klaus Schwab’s pitch to own nothing and eat bugs is weak, but Musk, via brain implant, could potentially create a more satisfying virtual experience than most could hope to achieve in reality. And what could be more tantamount to complete control than letting someone else get the keys to the very organ of perception itself?  Well don’t get the implant then. Just get in your Tesla and drive away. But electric cars don’t work that way — they are attached to the grid, trackable and capable of [being shut down remotely](https://tekdeeps.com/elon-musk-is-being-pressured-to-shut-down-tesla-cars-in-russia/). And that’s before we consider driverless cars in which there would be even less privacy and autonomy. Moreover, Teslas [track the driver’s movements](https://www.carscoops.com/2020/10/tesla-model-3s-interior-camera-tracking-eye-and-head-movement/) already to an extent combustion-engine cars do not, ostensibly to inform the developing AI, but uses for technology evolve over time — sending email and paying bills over the internet was commonplace in 2000, but now people are micro-tracked by Facebook and Google. One could object that Musk has, to-date, used his influence for good. But that makes it no less dangerous to entrust him with so much power: J.R.R. Tolkien understood this clearly: *“You are wise and powerful. Will you not take the Ring?”* *“No!” cried Gandalf, springing to his feet. “With that power I should have power too great and terrible. And over me the Ring would gain a power still greater and more deadly.” His eyes flashed and his face was lit as by a fire within. “Do not tempt me! For I do not wish to become like the Dark Lord himself. Yet the way of the Ring to my heart is by pity, pity for weakness and the desire of strength to do good. Do not tempt me! I dare not take it, not even to keep it safe, unused. The wish to wield it would be too great for my strength. I shall have such need of it. Great perils lie before me.”* *-- The Lord of the Rings* Beyond [Neuralink](https://neuralink.com/), Musk also seems to have a strong utilitarian bent: In this [paper](https://www.nickbostrom.com/astronomical/waste.html) Nick Bostrom makes the case that delaying technological advancement could cost humanity astronomical amounts of well-being because every moment we delay, stars are burning out, useful energy is being sucked into black holes, irreversible entropy is happening apace, depriving us of future potential. Bostrom translates it into potential human lives lost (or more aptly, never having been born) on account of this permanent loss. While Bostrom’s framework seems benign — who is against collective human happiness in the form of more worthwhile lives? — it’s actually a form of utilitarianism that tries to sum the totality of human happiness over the entire species rather than to consider, as Immanuel Kant would, [each individual as an end in himself](https://assets.cambridge.org/97811070/08519/frontmatter/9781107008519_frontmatter.pdf). This viewing of the collective good as the optimal outcome has been used to justify many of history’s worst atrocities. To create a master race, to make sure everyone gets the same amount, to protect the world from covid, we must do whatever it takes! If, per Bostrom’s math, one harnessed black hole were worth quadrillions of lives, it would, for example, seem an easy call to sacrifice a bunch of selfish losers on earth who stood in the way of creating the technology for doing so. Utilitarianism, ironically, winds up failing miserably by its own metric because (a) it can so easily be manipulated by whoever is maintaining the “greater good” spread sheet, which just happens to coincide with one’s ambitions; and (b) because it’s absurd to think you can calculate aggregate good for octillions of lives so far into an unknowable future. As such, while Musk’s pitch is more persuasive than Schwab’s or Gates’, it’s ultimately part of the same dangerous philosophy which is: “Let me optimize for total human happiness on your behalf.” Contrast Musk’s top-down humanity-saving endeavors with Bitcoin which is purely opt-in, works with simple incentives and imposes no value judgments on its users. It’s a [truth-recording clock](https://dergigi.com/2021/01/14/bitcoin-is-time/), impervious to fraud and cooption by the powerful. No matter how wealthy or powerful a person is, he cannot control the network or get treated with special privileges. Bitcoin’s finite supply means governments cannot print more of it, cannot finance unpopular wars or massive giveaways to the military and pharmaceutical industrial complexes. Instead of trusting any particular powerful person (the president, Elon Musk, Bill Gates) to be good, it simply removes the incentives toward and reduces the capacity for evil. *The supreme good is like water, which nourishes all things without trying to. It is content with the low places that people disdain. Thus it is like the Tao.* *From the [Tao Te Ching](http://albanycomplementaryhealth.com/wp-content/uploads/2016/07/TaoTeChing-LaoTzu-StephenMitchellTranslation-33p.pdf) (Lao Tse — translated by Stephen Mitchell)* We simply need the right conditions, the proper axioms on which to build. Just as the US Constitution created the framework for the most prosperous society in the history of the world, bitcoin will provide the axioms for peace, the harnessing of stranded energy and the [low-time preference](https://saifedean.com/podcast/84-hard-money-and-time-preference-lecture-at-the-property-freedom-society/) required for a more prosperous future. But it won’t be the future brought to you by Elon Musk, and ultimately I foresee a clash between the two. One tell is his otherwise inexplicable [promotion of Dogecoin](https://twitter.com/elonmusk/status/1530209049261658112?s=20&t=gTsO-6ltAFVOs4SJP-VmpQ) as a possible currency for Tesla purchases. Dogecoin was [literally a joke](https://thecryptobasic.com/2022/06/03/doge-founder-says-every-project-started-now-is-made-to-enrich-creators-at-the-expense-of-community/?utm_source=rss&utm_medium=rss&utm_campaign=doge-founder-says-every-project-started-now-is-made-to-enrich-creators-at-the-expense-of-community) from its creator and of course has none of the security, decentralization or censorship resistance of bitcoin. Musk is too smart not to know that — he put a couple billion dollars of Tesla’s balance sheet in bitcoin already and almost certainly understands the value proposition. That he still cites Doge seriously would be a clever way to muddy the waters about what bitcoin is vs what blockchain-based “crypto” is. And of course the Antichrist would avail himself of bitcoin, if only to obfuscate his real intentions and also to be able to crash the price by selling, if necessary, at an opportune time. The Klaus Schwab-Bill Gates-WEF set have already lost. They are widely despised, central banks are flailing, once-trusted institutions like the legacy media, major science and medical journals, the WHO, CDC and FDA are hemorrhaging influence. People are unhappy and looking for someone or something to trust. Elon Musk could fill that void, and if he does, he will be The Final Boss, the last false idol that needs to be discarded before humanity can, through its own efforts, enjoy a new era of prosperity, the [Second Coming](https://www.chrisliss.com/the_second_coming), so to speak. I actually suspect Musk is genuine in his desire to help humanity via his vision and am pretty sure he doesn’t have 666 embedded in his scalp — in any case even Damian in The Omen [neither knew who he was nor wanted to be](https://www.youtube.com/watch?v=QFNqkxFljvk) the Antichrist! But the most dangerous people for humanity are those with the biggest plans for it. Or put more succinctly: 

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*aus "Erinnerungen, Träume, Gedanken" (1962) von C. G. Jung* Sowohl unsere Seele wie der Körper bestehen aus Einzelheiten, die alle schon in der Ahnenreihe vorhanden gewesen sind. Das «Neue» in der individuellen Seele ist eine endlos variierte Rekombination uralter Bestandteile, Körper wie Seele haben daher einen eminent historischen Charakter und finden im Neuen, eben erst Entstandenen keine richtige Unterkunft, d. h. die anzestralen Züge sind darin nur zum Teil zu Hause. Wir sind mit Mittelalter und Antike und Primitivität noch längst nicht so fertig geworden, wie es unsere Psyche erfordert. Wir sind statt dessen in einen Katarakt des Fortschritts hineingestürzt, der mit umso wilderer Gewalt vorwärts in die Zukunft drängt, je mehr er uns von unseren Wurzeln abreißt. Ist aber das Alte einmal durchbrochen, dann ist es meist auch vernichtet, und es gibt überhaupt kein Halten mehr. Es ist eben gerade der Verlust dieses Zusammenhangs, die Wurzellosigkeit, die ein derartiges «Unbehagen in der Kultur» und eine solche Hast erzeugen, daß man mehr in der Zukunft und ihren chimärischen Versprechen eines goldenen Zeitalters lebt, anstatt in der Gegenwart, bei welcher unser ganzer entwicklungsgeschichtlicher Hintergrund überhaupt noch nicht einmal angelangt ist. Man stürzt sich hemmungslos ins Neue, getrieben von einem zunehmenden Gefühl des Ungenügens, der Unzufriedenheit und Rastlosigkeit. **Man lebt nicht mehr aus Besitz, sondern aus Versprechen**, nicht mehr im Lichte des gegenwärtigen Tages, sondern im Dunkel der Zukunft, wo man den richtigen Sonnenaufgang erwartet. Man will es nicht wahrhaben, daß alles Bessere durch ein Schlechteres erkauft wird. Die Hoffnung auf größere Freiheit wird durch vermehrte Staatssklaverei zunichte gemacht, nicht zu sprechen von den fürchterlichen Gefahren, denen uns die glänzendsten Entdeckungen der Wissenschaft aussetzen. Je weniger wir verstehen, wonach unsere Väter und Vorväter gesucht haben, desto weniger verstehen wir uns selbst, und helfen mit allen Kräften, die Instinkt- und Wurzellosigkeit des Einzelmenschen zu vermehren, so daß er als Massenpartikel nur noch dem «Geist der Schwere» folgt. Verbesserungen nach vorne, d.h. durch neue Methoden oder «gadgets» sind zwar unmittelbar überzeugend, aber auf die Dauer zweifelhaft und auf alle Fälle teuer bezahlt. Keinesfalls erhöhen sie das Behagen, die Zufriedenheit oder das Glück im großen und ganzen. Sie sind meist hinfällige Versüßungen des Daseins, wie z. B. zeitverkürzende Maßnahmen, die unangenehmerweise bloß das Tempo beschleunigen und uns somit weniger Zeit lassen als je zuvor. Omnis festinatio ex parte diaboli est – alle Eile ist des Teufels – pflegten die alten Meister zu sagen. Verbesserungen nach rückwärts indessen sind in der Regel weniger kostspielig und dazu dauerhaft, denn sie kehren zu den einfacheren und bewährten Wegen der Vergangenheit zurück und machen den sparsamsten Gebrauch von Zeitungen, Radio, T.V. und allen quasi zeitsparenden Neuerungen.

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Table Of Content The Deceptive Scheme **The Fall of the Scammer** - Victims Take Charge - The Verdict - Conclusion - FAQ In a recent turn of events, a Bitcoin scammer, who was exposed and prosecuted by his own victims, has been handed a suspended prison sentence. The scammer, Doede Osman Khan, had been deceiving investors by promising them protection against online scams and lucrative returns on their investments. This case has brought to light the vulnerabilities that many face in the rapidly evolving world of cryptocurrency, where scammers often prey on the uninformed and the hopeful. **The Deceptive Scheme** Doede Osman Khan, a 50-year-old from Staffordshire, portrayed himself as a guardian angel for investors. He warned them about the perils of online scams and promised to help them navigate the treacherous waters of cryptocurrency investments. He assured them of making profits while doing so. However, in reality, Khan swindled thousands of dollars from unsuspecting individuals across the globe, including regions like Teesside and Canada. His promises, which seemed too good to be true, were laced with deceit and manipulation. Khan's modus operandi involved offering tutorials on purchasing and trading cryptocurrency online. Within just a few months of starting in early 2019, he had managed to attract dozens of clients from around the world. He made "outlandish claims" and promised large profits with "zero risk". Khan's presentations, which were entirely fictitious, were designed to exploit the trust and ignorance of his victims. These presentations painted a picture of a risk-free investment world, which is far from the reality of cryptocurrency trading. **The Fall of the Scammer** Despite his claims of starting with honest intentions, Khan's fraudulent activities were primarily to cover up unexpected losses. The court found that greed overcame Khan after witnessing early success in his venture. This early success, instead of being a foundation for genuine business growth, became the catalyst for his descent into deceit. Victims were lured into investing their Bitcoin funds with Khan to purchase trading bots, which he claimed would monitor the market. However, behind the intricate jargon, Khan's scam was straightforward - he simply pocketed their Bitcoin. Flaunting his ill-gotten gains, Khan often shared photos of himself living a luxurious lifestyle, complete with flashy cars, yachts, and skyscrapers. These images were a stark contrast to the financial and emotional turmoil he left in his wake. While Khan admitted to stealing £20,000, the victims argue that the current value of the stolen Bitcoin could be as high as £725,000, showcasing the gravity of his deceit. **Victims Take Charge** Two victims, Stephen Johnson from Stockton and Margery Willhelm from Canada, collaborated with other investors to compile a comprehensive 700-page dossier on Khan. This dossier was a testament to their determination to bring Khan to justice. Mrs. Willhelm, whose husband runs a private investigation firm, expressed her determination to find Khan, emphasizing the emotional and financial toll his actions had taken on the victims. Her resilience showcases the strength of those wronged, and their commitment to ensuring justice is served. Bethean McCall, a solicitor who took on the case, highlighted the emotional impact of the fraud on the victims, many of whom blamed themselves for being deceived. She emphasized the importance of victims realizing that they were manipulated by a professional scammer and that the blame lies solely with Khan. **The Verdict** Teesside Crown Court sentenced Khan to 15 months in prison, suspended for 18 months, after he pleaded guilty to seven counts of fraud. This sentence, while providing some justice to the victims, also serves as a warning to potential scammers about the consequences of their actions. Additionally, Khan is now under a four-month curfew, with a proceeds of crime hearing scheduled for the future, ensuring that his actions continue to be monitored and that he faces the repercussions of his deceit. **Conclusion** The case of Doede Osman Khan serves as a stark reminder of the dangers lurking in the world of online investments, particularly in the realm of cryptocurrencies. While the digital age offers immense opportunities, it also presents avenues for deceit and fraud. It's crucial for investors to remain vigilant, conduct thorough research, and be wary of offers that seem too good to be true. The resilience and determination of Khan's victims not only brought a scammer to justice but also highlighted the importance of community and collaboration in the face of adversity. **FAQ** **Who is Doede Osman Khan?** Doede Osman Khan is a Bitcoin scammer who deceived investors by promising protection against online scams and lucrative returns. **How was Khan caught?** Khan was exposed and prosecuted by his own victims, who compiled a comprehensive 700-page dossier against him. **What was Khan's scam method?** Khan offered cryptocurrency trading tutorials and lured victims into investing their Bitcoin with him, promising to buy trading bots. He then simply pocketed their Bitcoin. **How much did Khan steal?** Khan admitted to stealing £20,000, but the victims claim the current value of the stolen Bitcoin could be as high as £725,000. **What was Khan's sentence?** Khan was sentenced to 15 months in prison, suspended for 18 months, by the Teesside Crown Court. **That's all for today** **If you want more, be sure to follow us on:** **NOSTR: croxroad@getalby.com** **X: [@croxroadnews](https://x.com/croxroadnewsco)** **Instagram: [@croxroadnews.co](https://www.instagram.com/croxroadnews.co/)** **Youtube: [@croxroadnews](https://www.youtube.com/@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.*

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The fiat monetary system, built on debt and centralized control, has entrenched a framework that incentivizes exploitation, overconsumption, and systemic corruption. While it appears to provide economic stability, its long-term trajectory reveals existential risks for humanity and all life on Earth. Here, we explore how the fiat system manifests these risks and how Bitcoin adoption could offer a peaceful alternative to avert catastrophe. --- The Fiat System’s Role in Accelerating Human Extinction 1. Perpetuation of Endless Growth and Consumption Fiat currencies, through inflationary policies, compel perpetual economic growth to sustain themselves. This forces nations and corporations to prioritize short-term profits over sustainable practices, leading to the overexploitation of natural resources. The result is environmental degradation, biodiversity loss, and an acceleration of climate change—key factors in the destabilization of life-supporting ecosystems. 2. Centralized Control and Authoritarianism The fiat system thrives on centralized control by governments and banks. This concentration of power erodes individual freedoms, enabling authoritarian regimes to suppress dissent, fund wars, and perpetuate inequality. Over time, the devaluation of currencies exacerbates social unrest, fueling conflict and suffering. 3. Debt-Driven Inequality and Enslavement At its core, fiat money is created through debt. This system locks individuals, businesses, and nations into cycles of borrowing and repayment, concentrating wealth and power in the hands of an elite minority. The growing wealth gap undermines democracy, destabilizes societies, and creates a system that serves the few while marginalizing the many. 4. Technological and Biological Risks The fiat system funds the unchecked development of technologies such as artificial intelligence, surveillance systems, and bioweapons. Without ethical oversight, these innovations pose existential risks, from the loss of privacy to the potential for catastrophic misuse. 5. Psychological and Spiritual Corrosion Fiat money’s detachment from tangible value fosters a culture of materialism and short-term thinking. It disconnects people from the intrinsic value of labor, time, and the natural world, leading to widespread dissatisfaction, mental health crises, and a loss of purpose. --- How Bitcoin Can Save the Species 1. Decentralization as a Foundation for Freedom Bitcoin operates on a decentralized network, free from the control of governments and banks. This structure prevents authoritarian regimes from manipulating monetary systems to serve their agendas, enabling individuals to reclaim financial sovereignty. 2. Fixed Supply and Deflationary Economics Bitcoin’s fixed supply of 21 million coins counters the inflationary nature of fiat currencies. By incentivizing savings and long-term thinking, it encourages sustainable practices, reducing the pressure to exploit finite resources for immediate gain. 3. Transparency and Accountability The Bitcoin blockchain is an immutable ledger, fostering transparency in financial transactions. This technology undermines corruption, facilitates equitable resource allocation, and empowers communities to hold powerful entities accountable. 4. A Catalyst for Ethical Technological Development Bitcoin’s open-source ethos inspires decentralized innovation in fields like energy, communications, and governance. It encourages the development of systems that prioritize resilience, fairness, and sustainability over profit. 5. Restoring Human Dignity and Purpose Bitcoin realigns the concept of value with human labor, creativity, and time. By divorcing wealth from debt and centralized control, it fosters a culture of fairness, integrity, and respect for individual contributions, nurturing psychological and spiritual well-being. --- A Peaceful Revolution: Undermining Fiat’s Evil Bitcoin’s adoption is not a call for violent upheaval but a peaceful revolution. Its design enables individuals and communities to opt out of the fiat system voluntarily, without coercion or conflict. As more people embrace Bitcoin, the centralized power of fiat systems will diminish, gradually eroding their capacity to inflict harm. By transitioning to a Bitcoin standard, humanity can address the root causes of its existential crises. The result is a future where economic systems align with ethical values, fostering cooperation, sustainability, and a renewed sense of purpose. --- Conclusion: Choosing Survival Over Extinction The fiat system, driven by greed and short-termism, has positioned humanity on the brink of self-destruction. Yet, Bitcoin offers a viable path to a more equitable, sustainable, and resilient future. It is not merely a financial technology but a philosophical shift—a reimagining of what it means to value life, labor, and the planet itself. Adopting Bitcoin is not just about securing financial freedom; it is about safeguarding the very survival of our species and the ecosystems that sustain us. The choice before us is stark: continue down the fiat road toward extinction or embrace the decentralized, transparent, and ethical principles of Bitcoin to build a world worth living in. Let this moment be a turning point, where humanity chooses not destruction, but redemption.

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## **Introduction** The Bitcoin Whitepaper is the foundation of the modern cryptocurrency world. Written by Satoshi Nakamoto, it marked the start of a revolution in finance. In this post, we take a detailed look at the Whitepaper: when and why it was written, what it contains, what is missing, and how Bitcoin has developed since then. ## **When and why was the Bitcoin Whitepaper published?** The Whitepaper, titled "Bitcoin: A Peer-to-Peer Electronic Cash System," was published on October 31, 2008, by Satoshi Nakamoto. During the global financial crisis, Nakamoto presented a decentralized solution for digital payments. The goal was to create an electronic payment system that operates without a central authority and allows users to send money directly to each other. ## **What is in the Bitcoin Whitepaper?** The nine-page document describes the technical foundation and philosophy behind Bitcoin. Here are the key points: - **Introduction:** The problems with the current financial system are explained. Nakamoto describes the need for a system based on cryptographic proof instead of trust. - **Transactions:** Bitcoin transactions are digital signatures passed in a chain of ownership. This prevents double spending. - **Timestamp Server:** Transactions are grouped into blocks and linked through timestamps. This secures the blockchain. - **Proof-of-Work:** To prevent manipulation, proof-of-work is required to create new blocks. - **Network:** Participants send transactions to the entire network. Valid blocks are accepted by consensus and added to the blockchain. - **Incentives:** Miners are rewarded with new bitcoins and transaction fees. - **Storage Space:** The paper describes ways to save space by removing unnecessary transactions. - **Privacy:** Bitcoin allows pseudonymous transactions since no real names are used, only public keys. ## **What is not in the Whitepaper?** Although the Whitepaper clearly defines the basics, many important details found in Bitcoin today are missing: - **21 Million Bitcoin:** The maximum supply of 21 million Bitcoin is not mentioned. - **Block Time:** The average block time of 10 minutes is not specified. - **Mining Algorithm:** The 1 MB block size limit and adjustments to mining difficulty are not included. - **Signature Methods:** The paper does not describe specific signature methods like P2PKH or Schnorr signatures. ## **How is Bitcoin different from the Whitepaper today?** Bitcoin has changed significantly since the Whitepaper was published. Some of the biggest differences include: - **Mining:** Bitcoin was originally mined using CPUs, but today specialized ASIC devices dominate. - **Consensus Mechanism:** The idea of the "longest chain" has been replaced by the heaviest chain to prevent timewarp attacks. - **Transaction Types:** Multi-signature addresses, Taproot, and other upgrades have been introduced. - **Scaling:** Technologies like the Lightning Network have been developed to make Bitcoin faster and more scalable. ## **Conclusion** The Bitcoin Whitepaper is a masterpiece of clarity and simplicity that explains a complex idea in just a few pages. However, Bitcoin is not static – it has evolved continuously over the past 16 years. The Whitepaper remains the foundation that defines the vision of a decentralized money system for the world.

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Discover the controversial perspective that the fiat currency system, managed by central banks, resembles a legal Ponzi scheme. Uncover the nuances of fiat currency, central banking, and its potential parallels to Ponzi schemes. Also, explore the significance of Bitcoin in challenging traditional financial norms and its role as an emerging alternative. Is the foundation of our modern financial system truly as it seems, and can Bitcoin redefine the future of money? **Table Of Content** - The Fiat System: A Legal Ponzi Scheme? - Bitcoin's Challenge to the Fiat System - Bitcoin's Resistance to Manipulation - The Emergence of Bitcoin ETFs - Root Causes of Financial Frauds - Conclusion - FAQs **The Fiat System: A Legal Ponzi Scheme?** In the world of finance and economics, few terms are as polarising and provocative as "Ponzi scheme." Often associated with high-profile frauds and financial scandals, the concept of a Ponzi scheme typically conjures images of disgraced con artists and their unsuspecting victims. However, could it be that a similar model, albeit operating legally, is at the very core of our modern financial system? At its core, the fiat monetary system is characterised by a crucial feature: the absence of intrinsic value. Unlike Bitcoin or other commodities that underpinned historical monetary systems, fiat currencies like the US dollar are not backed by tangible assets. Instead, their value is derived solely from the trust and confidence that people place in the issuing government or central authority. A Ponzi scheme operates on the premise that returns to earlier investors are paid with the capital of newer investors, creating the illusion of profitability. This structure works as long as fresh investments continually pour in, masking the absence of a legitimate revenue source. The fiat system, in an eerily similar fashion, is perpetuated by continually increasing debt and the circulation of more currency. In the fiat system, governments create money by issuing debt. The expansion of the money supply comes from loans that must eventually be repaid with interest. When these loans come due, governments often issue new debt to pay off the old, resulting in a growing debt burden. Just as a Ponzi scheme must attract new investors to maintain the illusion of solvency, governments must accumulate more debt to meet previous obligations, putting the burden on future generations. The fiat system's longevity relies on a constant cycle of currency devaluation and inflation. Governments can effectively reduce the real value of their debt by inflating the currency, shifting the cost onto the populace. While this may seem sustainable in the short term, it mirrors the Ponzi scheme's tactic of robbing Peter to pay Paul. In both cases, there's a fundamental issue of sustainability. **Bitcoin's Challenge to the Fiat System** In recent years, Bitcoin has emerged as a revolutionary force challenging the traditional fiat monetary system. Built on the principles of decentralisation and indepence, poses a significant threat to the established norms of central banking and government-issued currencies. Bitcoin operates on a decentralised network of computers, known as the blockchain. Unlike fiat currencies controlled by central banks, Bitcoin is not subject to the whims of any single authority. This decentralised nature promotes transparency, security, and trust among its users, effectively challenging the centralised control of fiat money. One of Bitcoin's most distinctive features is its capped supply of 21 million coins. This scarcity stands in stark contrast to fiat currencies that can be printed endlessly by governments. Bitcoin's limited supply acts as a hedge against inflation, making it an attractive store of value. Bitcoin's technology ensures secure ownership of assets. Users have control over their private keys, reducing the risk of unauthorised seizures or asset freezes, a concern in the fiat system. Bitcoin is accessible to anyone with an internet connection, providing financial inclusion to the unbanked and underbanked populations. This inclusivity challenges the exclusivity of fiat systems, which often require intermediaries and traditional banking infrastructure. The decentralised nature of Bitcoin makes it resistant to censorship, ensuring that transactions are not subject to arbitrary restrictions or controls, as seen in some fiat-based systems. Bitcoin's disruptive potential in the world of finance is undeniable. Its challenge to the fiat system represents a shift in the way we think about money, wealth, and economic systems. As Bitcoin continues to gain mainstream acceptance, it raises fundamental questions about the future of currency and financial infrastructure. **Bitcoin's Resistance to Manipulation:** In the world of finance and economics, the notion of a truly decentralised, trustless, and censorship-resistant form of money is both revolutionary and, to some, unnerving. Bitcoin, stands as a testament to the potential of digital assets to challenge conventional fiat currencies and the centralised systems that underpin them. A fundamental aspect of Bitcoin's allure is its resistance to manipulation, a quality that sets it apart from traditional financial systems and even some other cryptocurrencies. At its core, Bitcoin operates on a blockchain – a distributed ledger that records all transactions across a vast network of computers. This decentralised nature, combined with cryptographic principles, ensures a high degree of security and transparency. Unlike fiat currencies, which are subject to the whims of central banks and governments, Bitcoin's monetary policy is encoded in its software. The total supply is capped at 21 million coins, and new Bitcoins are issued in a predictable, diminishing manner through a process known as mining. Bitcoin's resistance to manipulation stems from several key factors. Firstly, its decentralised network is maintained by a diverse group of miners worldwide, making it nearly impossible for any single entity to exert control over the system. Unlike centralised financial institutions that can manipulate interest rates, print money at will, or engage in other questionable practices, Bitcoin's protocol operates independently of human interference. Secondly, Bitcoin's security mechanisms, such as proof-of-work, ensure that transactions are validated by a competitive network of miners. This makes it incredibly costly and difficult for anyone to compromise the network. Additionally, the immutability of the blockchain means that once a transaction is recorded, it cannot be altered or deleted, providing a robust defence against fraud or manipulation. Lastly, Bitcoin's open-source nature allows the global community to scrutinise its code and propose changes through a consensus-driven process. Any updates or improvements to the network require majority approval, preventing any single entity from manipulating the protocol to suit its interests. As traditional fiat currencies face challenges related to inflation, political influence, and centralised control, Bitcoin's resistance to manipulation positions it as a compelling alternative. While it is not without its own set of unique risks, Bitcoin's core principles of decentralisation and transparency contribute to its appeal as a novel form of digital money that empowers individuals and resists manipulation by powerful institutions. **The Emergence of Bitcoin ETFs** The emergence of Bitcoin Exchange-Traded Funds (ETFs) represents a notable development in the world of digital investments, serving as a bridge between traditional financial markets and the realm of digital assets. These ETFs provide a convenient and regulated avenue for investors to gain exposure to Bitcoin without the need to directly possess the cryptocurrency. This comes at a time when Bitcoin has garnered widespread recognition and piqued the interest of both retail and institutional investors. One crucial aspect of Bitcoin ETFs is their potential to simplify the investment process. Rather than dealing with the intricacies of owning and securely storing Bitcoin in digital wallets, investors can purchase shares of a Bitcoin ETF through conventional brokerage accounts. This streamlined approach lowers entry barriers for those who might have hesitated to navigate the complexities of Blockchain and self-custody. Furthermore, Bitcoin ETFs offer regulatory oversight and investor protection. These funds operate within the bounds of financial regulations and undergo scrutiny from relevant authorities, enhancing security for investors. They also confer an aura of legitimacy upon the digital asset market, rendering it more appealing to institutional investors that necessitate adherence to regulatory standards. The advent of Bitcoin ETFs mirrors the evolving role of digital assets. Bitcoin, once considered a niche asset, has matured into a mainstream investment choice. The interest in Bitcoin ETFs signifies the growing embrace of digital assets within the conventional financial system. However, the ascent of Bitcoin ETFs also ignites discussions about their potential impact on the digital asset market. Some believe that they might stimulate increased demand for Bitcoin, potentially influencing its price dynamics. Nonetheless, these ETFs mark a pivotal step in the broader adoption of digital assets, attracting a wider range of investors to the digital asset sphere. **Root Causes of Financial Frauds** The root causes of financial fraud extend beyond the realm of digital currencies, highlighting that deception-driven activities primarily originate outside the digital asset ecosystem. While the term "digital currency fraud" often suggests that virtual assets are the focal point of these fraudulent activities, in reality, it's seldom the case. Contrary to the prevailing narrative that digital currencies are a haven for illicit activities, fiat currency remains the preferred choice of financial criminals. Reports from the US Treasury and EUROPOL emphasise that traditional financial channels, associated with fiat transactions, still play a more substantial role in illegal financial activities than virtual assets. Fiat currencies, despite being subject to stringent regulations and oversight, continue to be the medium of choice for criminal activities. The heart of the matter lies in distinguishing between the origin of the fraud and the role of digital currency within it. In numerous instances, the initial fraudulent activity takes place within non-financial domains or fiat transactions. An illustrative example is credit card fraud, which primarily employs fiat-based payments for unauthorised charges. While some cases culminate in the acquisition of digital currencies, the initial fraudulent activity is rooted in fiat-based mechanisms. Even in the context of digital currency romance scams or investment schemes, the crux of the fraud lies in establishing non-financial relationships with victims. Funds often start as fiat, moving through traditional payment channels before making their way into digital currencies. The fraud's inception, therefore, remains primarily in the fiat space, and there are several opportunities for intervention through conventional financial systems. Decentralised Finance (DeFi) hacks, which sometimes fall within the digital currency realm, are more related to risk management protocols within the DeFi ecosystem. These vulnerabilities are often not tied to digital currencies themselves but stem from flaws in DeFi platforms, frequently involving phishing tactics. To combat these financial frauds with digital currency involvement, it is essential to recognize the preliminary stages of deception, which usually unfold outside the digital asset landscape. Enhancing AML and transaction monitoring intelligence tools, combined with educational efforts, can proactively identify and mitigate potential fraud risks in the fiat sector, even before they intersect with digital currencies. This approach can address the root causes of financial fraud effectively, irrespective of whether they subsequently involve digital currencies or traditional financial systems. **Conclusion** The emergence of Bitcoin has shed light on a widespread, yet often unacknowledged, issue in the world of finance—the fiat scam. Fiat currencies, including the U.S. dollar and the euro, are the lifeblood of traditional financial systems, issued and governed by central banks. However, these currencies lack intrinsic value and are subject to manipulation by central authorities, akin to a legal Ponzi scheme. Central banks, empowered by governments, possess the authority to create and manage fiat money. They can print additional currency at will, which devalues existing holdings and redistributes wealth, all under the umbrella of legality. Moreover, fiat transactions typically involve intermediaries, like banks, adding layers of complexity and fees. Bitcoin has introduced an alternative financial paradigm. Unlike fiat, Bitcoin operates on a transparent blockchain network with a predetermined supply, immune to central authority manipulation. It has become a symbol of decentralised financial systems and digital scarcity. As the world grapples with this shift, it is essential to acknowledge the fiat scam—a legal Ponzi scheme perpetuated by central banks. With increased awareness and the rise of Bitcoin, the financial landscape is poised for transformation, challenging the dominance of fiat currencies. **FAQs** **Is the Fiat System Truly a Legal Ponzi Scheme?** The fiat system shares similarities with a legal Ponzi scheme in its reliance on continual growth and debt accumulation to sustain itself, but it's important to note that the key difference is legality. Central banks have the authority to issue fiat, making it legal, while Ponzi schemes are fraudulent by nature. **How Does Bitcoin Challenge the Fiat System?** Bitcoin challenges the traditional fiat system through decentralisation, a limited supply of 21 million coins, user-controlled assets, accessibility for the unbanked, and resistance to censorship, providing an alternative to centralised fiat currencies. **What Are the Root Causes of Financial Frauds?** Root causes of financial frauds often start with non-financial activities or fiat transactions. Credit card fraud, romance scams, and investment schemes typically begin with fiat-based transactions before involving digital currencies. Enhancing AML and transaction monitoring tools can proactively address these root causes in both digital and traditional financial systems. **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.*

@ 714f9dc3:76659adb

Last week, I was reading *“The Air We Breathe”*, by Glen Scrivener. It’s about *“How We All Came to Believe in Freedom, Kindness, Progress, and Equality”*, and it explores the Christian roots of the values we prize in today's western society. It’s all around us, but we don’t really know where it came from: It’s the air we’re breathing. The ideas and ethics behind Christianity, whether you believe in them or not, are embedded in our culture. As I was reading this, I saw so many parallels with Bitcoin, so wanted to list them below and share some of my thoughts. Can Bitcoin also become *“The Air We Breathe”*? Or in plebs words: hyperbitcoinization? Can Bitcoin become so ubiquitous that it becomes normal? Can there be a world in which we don’t even know where Bitcoin came from? It would be a world with many similar views as with today's view on Christianity. It becomes the air we breathe, something that used to be a counterculture that over time became ubiquitous. What can we learn from it? **These are my ten parallels of Bitcoin with the early days of Christianity.** 1. Separation from state 2. From obscure counterculture to dominant force 3. Exponential grassroots growth 4. Conversion of emperors/politicians 5. Sudden tolerance and protection for ideology 6. Fall of the empire, end of the status quo 7. Missionaries spreading the word 8. Persuasion and education are key 9. Age of Enlightenment *Note: I’m no expert on Christianity, nor a historian of the Roman Empire, and I know just a bit about Bitcoin. See this as a thought experiment.* **1. Separation from state** In all fairness, I’m not the first to draw this first parallel. It was Satoshi Nakamoto themself who made the connection even before Bitcoin was available to the public, with several hints pointing back to important dates and moments in Christian history. The big parallel here is the “separation of money and state” and “separation of church and state”. Before going back to the early days of Christianity in the first centuries AD, I first want to draw this parallel with Satoshi. It’s 1517. The German Priest Maarten Luther writes his Ninety-five Theses, and nails this on the church doors in Wittenberg. The theses are also known as the “Disputation on the Power and Efficacy of Indulgences”. He kickstarted a movement with a radical new idea for that time: The separation of the church from the state. The Catholic Church had become one with the state. Via the means of indulgences, there was an ability to pay for your redemption. The church was corrupted by money, power and politics. The church and indulgences replaced the need for personal responsibility and an individual faith with money and perverse structures. Reformation Day is a Protestant Christian religious holiday celebrated on 31 October in remembrance of the onset of the Reformation. But the 31st of October is also the day in which Satoshi shared his pamphlet with the world: in 2008 they published the Bitcoin Whitepaper. It kickstarted a movement with a radical new idea for that time: The separation of the money from the state. But this was not Satoshi’s only hint. Another one is the date of Bitcoin’s Genesis Block: January 3, 2009. It was the day that the idea of the separation of money and the state became reality, more than just an idea in an individual's mind. Did you know that Maarten Luther was excommunicated from the Catholic Church in 1521 by Pope Leo X for sparking this revolutionary new way of thinking (and being). It happened on January 3 as well. I bet Satoshi Nakamoto knew. To be fair, this parallel is not new and known by many bitcoiners. But it’s a good introduction to the topic, and after reading “The Air We Breathe: How We All Came to Believe in Freedom, Kindness, Progress, and Equality”, I automatically started to see more parallels between (the early days of) Christianity and todays adoption of Bitcoin. Because it was of course not Maarten Luther who sparked these rebellious thoughts in 1500, but it was Jesus himself approx. 2000 years ago. Let’s go back from the 1500s to the first decades AD to the beginning of this radical new belief system. During the dominance of the Roman empire in the Mediterranean and much of Europe, Western Asia and North Africa, someone told a story that opposed every mainstream paradigm. Jesus’ idea was radically different from the belief systems of that day. He preached Freedom, Kindness, Progress, and Equality in a world that was full of Debauchery and Violence, with Gladiator Games, Slavery, Public Crucifixion, and Brutalities. The belief system of that time was not like todays. There were superior races *(Greek/Romans over barbarians)*, superior sexes *(man over women)*, superior classes *(free man over slaves)* and the concept of justice was more something in the realm of “restoring rights of those that were superior”, than “equality for all, men and women, Greek and barbarian, free and slave”. Jesus opposed the status quo. It started small and irrelevant; as a counterculture. But it didn’t stay that way. **2. From obscure counterculture to dominant force** In “The Air We Breathe”, Scrivener asks the question: “How did the obscure, marginal Jesus movement of the 1st century become the dominant religious force in the Western world in a few centuries?” Important to know, is that the Christian faith was the opposite of the narrative. Concepts like Freedom, Kindness, Progress, and Equality didn’t exist in the Roman Empire. Human rights neither. Individual rights neither. The emperor was almost de facto God himself. Early Christians were persecuted for preaching a different story: that God is NOT the ruler of the empire. Jesus preached the separation of politics from God; separating faith from the state. As a result, he was crucified, and many of his followers were killed by Nero (between 54 and 68 AD), Domitian (81–96 AD), Trajan (98–117 AD) and Decius (249–251 AD). This new narrative was a thread for the Roman rulers. Draw the parallels of how there have been many attempts to “kill” bitcoin, not with physical persecution but with an information war. Not by physical violence, but by misinformation. Bitcoin threatens the status quo, just like Christianity threatened the Roman Empire. You see? But how is the obscure movement of Bitcoin in the 20th century becoming the dominant force, similar to the question that Scrivener asked about Christianity? Perhaps the answer lies in the following parallel. **3. Exponential grassroots growth** Sociologist Rodney Stark estimates in “The Rise of Christianity” that from the time of the first Easter, the church began growing at a rate of 40% per decade, a modest but relentless 3.4% per year. By the year 300, Christians numbered perhaps 6 million: about a tenth of the empire. Despite pushbacks, the army of believers continued to grow. Grassroots, peer-to-peer. It was not the state-religion, it was a peaceful army of believers that spread the word, resulting in an exponential growth of its followers. The counterculture became more and more dominant. You may see what I’m doing here. It was basically the meme that all Bitcoiners know: Gradually, then suddenly. Against the current. **4. Conversion of emperors/politicians** In 312 a big change happened: Emperor Constantine converted to Christianity. As Stark writes, "Constantine's conversion would better be seen as a response to the massive exponential wave in progress, not as its cause". Are we living in that same era, where nation states start to embrace Bitcoin? Where politicians don’t oppose as strongly anymore, but are flirting with the idea of embracing it? And again the parallel: it’s responsive to the exponential wave of progress, not as its cause. Whether Constantine is Nayib Bukele, Donald Trump, or Milei: it doesn’t matter. It’s the dynamic that matters. The counterculture becomes so dominant, that the “rulers” of the world are wanting to be part of it. Which will be followed by “rules” that favour the ideology, movement, and beliefs. **5. Tolerance and protection for ideology** In 313 Constatines Edict of Milan granted freedom to Christians that were remarkable for that time and a model for religious toleration for the coming centuries. The tide was turning, and by 380 Emperor Theodosius made Christianity Rome's official religion, more than half the population had already converted. In a few short centuries Christianity had gone from radical counterculture to dominant cultural power. This was an extraordinary shift in the church's relationship with the world. The edict expressly grants religious liberty to Christians, who had been the object of special persecution, but also goes even further and grants liberty to all other religions. And then, in 410, the world itself changed. It changed from grassroots, bottom-up adoption to some kind of nation state adoption. One that was driven by decrees and edicts, instead of the analog cyberhornets of that day. Actually, the ideas of Indulgences were introduced via these Edicts, something that Maarten Luther actually was fighting against in the 1500s. The world changed from the state-less Christian belief and moved (back) towards a system in which the state and church were connected again. Yes — the Roman Catholic Church. Until the previously mentioned critics during the Reformation. **6. Fall of the empire, end of the status quo** When people speak of the fall of the Roman Empire, they usually mean in the 5th century when the western half fell. But there was also an eastern half, known as the Byzantine Empire (with its capital in what is modern-day Istanbul). How did this relate to the movement that once was Cult, and now suddenly had become Culture? It was Augustine, the north African bishop (354-430), who laid the foundation for a new philosophical, theological, and legal system. He distinguished between the fragile earthly realm and the eternal heavenly kingdom. Rome was “a city of man”, which fell. But the “city of God” was forever. He continued to separate the Roman Catholic Church from the faith that it once was. This distinction was vital, and it gave rise to the concept of "the secular realm". He planted the first ideas of "the separation of church and state" again, which started to spread throughout Europe during the supposedly "sandy desert" of the Middle Ages. The parallel and lesson here might be that narratives can be taken over, for the worse. And that it takes centuries to take back the narrative, but/and only after an empire has fallen. Whether we refer to “The Fourth Turning” by William Strauss and Neil Howe or “Changing World Orders” by Ray Dalio. There is something to preserve, and it needs active monitoring and pushbacks! **7. Missionary, spreading the word** The way the church sought to spread its influence would become a question that would take many centuries (and many failures) to settle. In the past, empires sought to spread their influence almost always by force. Christianity has been a missionary faith from the beginning. It was for this reason that Pope Gregory the Great sent Augustine to Britain to convert the Anglo-Saxons. Augustine was commanded by Gregory to use only "gentle means". His goal was persuasion. His method was teaching and preaching. And he was successful, converting King Aethelbert of Kent and becoming the first Archbishop of Canterbury. You see what I’m talking about again: the parallel is simple. Bitcoin is a similar peaceful revolution, a missionary movement, of those that wish to see their Cult turn into a Culture. “Genle means”, teachings, persuasions. Or in pleb terminology: Orangepilling. **8. Persuasion and education are key** Over the next decades and centuries, this movement continued. English Benedictine monk (675-754) Boniface was sent from the previously “barbarian” Britain to “orangepill the East” – in this case the Saxons in the Germanic lands. In the words of his advisor, the Bishop of Winchester, his goal was "to convince them by many documents and arguments". This mission of persuasion and education was largely successful. Today he’s better known as “the Apostle to the Germans". He was killed in The Netherlands (Dokkum). Boniface kept to a policy of non-violence and non-retaliation, even to the point of death. Another famous writer about this topic, Tom Holland, summarises the lesson we learn from Boniface: "to convert was to educate". In the following century this lesson was sorely needed by the Frankish king Charles the Great, aka Charlemagne (742-814). Charlemagne's path to power was a brutal one. When the Saxons stood in his way, Charlemagne beheaded 4,500 of them in a single day. There are concrete reasons why "getting medieval" might be associated today with brutality. Is “Bitcoin as Legal Tender”, whether this is peaceful or violently, the way to go? Are we “getting medieval” with these kind of measures, in order to go from Cult to Culture, from counterculture to dominant culture, in which we lose the true essence of our revolution of separation of the state from the matter? **9. Age of Enlightenment** Alcuin of York (735-804), was bold enough to write to Charlemagne directly with his criticism. "A person can be drawn into the faith, not forced into it". Be a lighthouse, not a tugboat! The church's official teaching would later agree with Alcuin's position. In the 12th century all "harsh means" were forbidden since faith arises from the will, not compulsion. Enlightenment comes through education and persuasion. There’s work to do. Grassroots. Education. Peer-to-peer. Not directed by politicians, nor opposed by those in power. Through education and persuasion. Rules without rulers. Because eventually, with the Crusades and the Spanish Inquisition, there are stark examples of the church using “harsh means" again. Forcing Bitcoin on people will never be the way: it’s a cheat code to the end goal. In order to succeed, we’ll need to be a missionary. **Final words** I don’t want in any way to compare Christianity in itself as a faith, and Bitcoin as a technology, with each other. I enjoyed exploring the sociological phenomena between two countercultures, the grassroots movement and missionary parallels between both of them. Satoshi gave the first assist, with the 31st of October (Whitepaper Day) and the Genesis Block on January 3rd. Let’s not mix religion with monetary systems, even though there are many similarities between certain movements. That’s not my goal for sharing this brain dump. But let’s learn from the past, from Constatine’s Edict and from Augustine, from Charlemagne (and especially Alcuin of York), from Boniface and from Maarten Luther. And from Satoshi Nakamoto.

@ bd32f268:22b33966

Texto publicado por *Foundation Father @FoundationDads* e traduzido para português. Assumir responsabilidades numa época efeminada como a nossa é um superpoder. Algumas pessoas não sabem o que significa "assumir responsabilidades", no entanto, porque nunca tiveram um pai ou outra pessoa que as ama-se o suficiente para lhes ensinar. Então, aqui está como assumir responsabilidades. ## **Lembra-te que não és uma pessoa desamparada e incompetente.** As coisas não te acontecem simplesmente enquanto olhas fixamente com a boca aberta, usando todo o teu poder cerebral para te lembrares de como respirar. Tu tens poder de ação. ## Mantém estas perguntas em mente: "Que papel desempenhei eu nesta situação ou como ajudei a formar o sistema em que estou inserido?" "O que posso fazer agora mesmo para começar a corrigi-lo, por mais pequeno que seja?" Aqui estão alguns exemplos de como aplicar estas perguntas. *José Malhoa - Remédio* ## Saúde Estás com excesso de peso e cansado o tempo todo? Deprimido? Começa a caminhar 30 minutos por dia. De preferência ao ar livre. Pára de comer snacks. Marca uma consulta com um médico para fazer análises ao sangue. Todas estas coisas estão ao teu alcance. ## Finanças Estás a afogar-te em dívidas de cartão de crédito? Assumir responsabilidades significa reduzir drasticamente o teu consumo e iniciar um programa radical de pagamento do máximo de dívida que conseguires. Obtém uma aplicação de orçamento e começa a planear. Sentes-te preso no teu emprego sem futuro? Sentes que não ganhas o suficiente? Vai a entrevistas para vagas de emprego e descobre o teu verdadeiro valor no mercado. Reserva 1 hora todas as noites para melhorares. A menos que já estejas a trabalhar em dois empregos, toda a gente tem pelo menos 1 hora todas as noites. ## Arredores imediatos Se vês algo que precisa de ser feito, simplesmente faz. Não te queixes disso. Não resmungues baixinho. Não desejes que alguém tratasse disso. Simplesmente faz e não peças permissão. Guarda o carrinho de compras. Lava a caneca de café no lava-loiça. Arranca as ervas daninhas. Repara a parede. Se o quintal do teu vizinho estiver cheio de ervas, vai lá e corta a relva tu mesmo. Limpa a água do lava-loiça. Arruma a bancada. Leva o lixo para fora. Leva bom café para o escritório. ## Os teus filhos Muitos pais queixam-se do comportamento dos seus filhos como se não tivessem qualquer influência sobre o assunto. Mas os teus filhos farão o que tu os ensinaste a fazer. "Fizemos o melhor que pudemos." Não, não fizeram, e assumir responsabilidades significa admitir que foste permissivo e preguiçoso ou que querias sentir-te justo por não bater. Que pequena coisa podes fazer agora mesmo para começar? Escolhe um único comportamento que queres que eles parem, senta-os e explica as consequências do comportamento. Pede desculpa por teres deixado andar durante tanto tempo. Quando eles apresentarem o comportamento, aplica as consequências. Aconteça o que acontecer. ## Os teus relacionamentos Não tens amigos ou o teu grupo de amigos atual é uma má influência? Podes fazer novos amigos. Assumir responsabilidades significa admitir que a tua solidão é em grande parte auto-infligida. **O que podes fazer?** Começa a jogar ténis ou futebol. Existem ligas em todo o lado. Encontra uma boa igreja local e encontra maneiras de te envolver. Existem encontros para todo o tipo de atividade. Participa num que se alinhe com as tuas preferências. Quando estiveres em público, sorri mais e puxa conversa. Depois de conheceres algumas pessoas, estabelece uma cadência regular. Agenda almoços semanais ou mensais e alterna entre algumas pessoas. Ou talvez café de manhã. Não acontecerá da noite para o dia, mas dando pequenos passos consistentemente durante alguns meses e vais perceber que tens uma vida social. ## Os teus erros Se erraste, não te retires e escondas nem arranjes desculpas. Pede desculpa à pessoa que prejudicaste, diz-lhe porquê e oferece-te para compensar. Aceita as consequências com humildade. Vais descobrir que nada te conquista mais respeito do que assumir os teus erros. Esta é a principal. Se aprenderes a fazer isto bem, cobrirá uma infinidade de pecados porque cria hábito. Mesmo que tenhas apenas 1% de culpa na situação, assumir a responsabilidade e pedir desculpa pelo teu 1% está a construir um certo grupo de músculos. "Mas ele devia ter..." Pára com isso. Confiaste demasiado? Presumiste demasiado sem comunicar? Assume a responsabilidade por isso. Estes exemplos podiam continuar para sempre, então vou parar e terminar com este princípio: A tua resposta importa mais do que as tuas circunstâncias. Existem vítimas reais, algumas de tragédias horríveis. Mas mesmo que não te tenhas atirado para areias movediças, ainda podes assumir a responsabilidade por como reages e pelo que escolhes fazer a seguir. Às vezes, é agarrar numa corda de um transeunte e dizer: "Obrigado." Não te afogues nas areias movediças até que alguém te dê uma palmadinha nas costas por quão difícil é para ti, e não continues a apontar para o teu tempo nas areias movediças para desculpares os teus fracassos. Podes não ter escolhido uma batalha específica. Ainda podes assumir a responsabilidade por quão bem lutas a batalha. Num certo sentido, ninguém escolhe a principal batalha que enfrenta. Ninguém escolheu nascer. Ninguém escolheu a sua família. Ninguém escolheu as suas circunstâncias. O mundo nunca será perfeito. Tens de assumir a responsabilidade pela tua parte dele de qualquer maneira. Pode ser difícil. Pode ser doloroso. Não te foi prometida uma vida fácil e sem dor. Depois de começares a assumir responsabilidades, qual é o próximo passo? Altura de assumir mais responsabilidades. Por exemplo, se não tens problemas em fazer amigos e tens essa parte da tua vida resolvida, assume a responsabilidade por outra pessoa. Encontra um dos rapazes solitários na tua igreja que precisa de um amigo e adiciona-o à tua rotação de almoços. A recompensa por assumir responsabilidades é subir de nível e, como consequência, as coisas devem tornar-se mais desafiantes. Mas agora estás mais bem preparado para isso. Repete até morrer e, esperançosamente, a tua causa de morte será por viver e não por te queixares de não viver.

@ a4a6b584:1e05b95b

## The Four-Layer Framework ### Layer 1: Zoom Out  Start by looking at the big picture. What’s the subject about, and why does it matter? Focus on the overarching ideas and how they fit together. Think of this as the 30,000-foot view—it’s about understanding the "why" and "how" before diving into the "what." **Example**: If you’re learning programming, start by understanding that it’s about giving logical instructions to computers to solve problems. - **Tip**: Keep it simple. Summarize the subject in one or two sentences and avoid getting bogged down in specifics at this stage. _Once you have the big picture in mind, it’s time to start breaking it down._ --- ### Layer 2: Categorize and Connect  Now it’s time to break the subject into categories—like creating branches on a tree. This helps your brain organize information logically and see connections between ideas. **Example**: Studying biology? Group concepts into categories like cells, genetics, and ecosystems. - **Tip**: Use headings or labels to group similar ideas. Jot these down in a list or simple diagram to keep track. _With your categories in place, you’re ready to dive into the details that bring them to life._ --- ### Layer 3: Master the Details  Once you’ve mapped out the main categories, you’re ready to dive deeper. This is where you learn the nuts and bolts—like formulas, specific techniques, or key terminology. These details make the subject practical and actionable. **Example**: In programming, this might mean learning the syntax for loops, conditionals, or functions in your chosen language. - **Tip**: Focus on details that clarify the categories from Layer 2. Skip anything that doesn’t add to your understanding. _Now that you’ve mastered the essentials, you can expand your knowledge to include extra material._ --- ### Layer 4: Expand Your Horizons  Finally, move on to the extra material—less critical facts, trivia, or edge cases. While these aren’t essential to mastering the subject, they can be useful in specialized discussions or exams. **Example**: Learn about rare programming quirks or historical trivia about a language’s development. - **Tip**: Spend minimal time here unless it’s necessary for your goals. It’s okay to skim if you’re short on time. --- ## Pro Tips for Better Learning ### 1. Use Active Recall and Spaced Repetition Test yourself without looking at notes. Review what you’ve learned at increasing intervals—like after a day, a week, and a month. This strengthens memory by forcing your brain to actively retrieve information. ### 2. Map It Out Create visual aids like [diagrams or concept maps](https://excalidraw.com/) to clarify relationships between ideas. These are particularly helpful for organizing categories in Layer 2. ### 3. Teach What You Learn Explain the subject to someone else as if they’re hearing it for the first time. Teaching **exposes any gaps** in your understanding and **helps reinforce** the material. ### 4. Engage with LLMs and Discuss Concepts Take advantage of tools like ChatGPT or similar large language models to **explore your topic** in greater depth. Use these tools to: - Ask specific questions to clarify confusing points. - Engage in discussions to simulate real-world applications of the subject. - Generate examples or analogies that deepen your understanding. **Tip**: Use LLMs as a study partner, but don’t rely solely on them. Combine these insights with your own critical thinking to develop a well-rounded perspective. --- ## Get Started Ready to try the Four-Layer Method? Take 15 minutes today to map out the big picture of a topic you’re curious about—what’s it all about, and why does it matter? By building your understanding step by step, you’ll master the subject with less stress and more confidence.

@ 2063cd79:57bd1320

Bitcoin ist vieles. Bitcoin die Währung ist teilbar, austauschbar, einfach transportierbar, haltbar, prüfbar, knapp, universell akzeptiert und leicht sicherungsfähig. Bitcoin das Netzwerk ist staatenlos, dezentral, zensurresistent, erlaubnislos, diskriminiert nicht, vertrauenslos, pseudonym, open source, es basiert auf Konsens- und Anreizmechanismen und Verifizierung sowie Berechnung (wahrscheinlich habe ich sogar viele weitere Eigenschaften vergessen), aber ist Bitcoin auch wirklich unpolitisch, wie so oft behauptet? --- Es wird häufig behauptet, dass Bitcoin unpolitisch sei. Aber was genau soll das bedeuten? Die einfachste Erklärung ist, dass Bitcoin für jeden frei zugänglich ist und von jedem benutzt werden kann, egal für welchen Zweck. In der Theorie auch für politische Zwecke, egal welcher Richtung. Bitcoin ist Politik in dieser Hinsicht egal. Denn das Bitcoin-Netzwerk richtet nicht, es diskriminiert nicht und es hat keine Meinung. Eine Transaktion ist eine Transaktion, egal wer der Urheber oder der Sender ist und egal, wer der Empfänger ist. Transaktionen müssen nicht gekennzeichnet werden und somit gibt es keine Möglichkeit für das Netzwerk zu entscheiden, ob eine Transaktion gut oder schlecht ist, dazu genutzt wird, um Guthaben von einer Wallet in eine andere zu schieben, oder von einem Land in ein anderes Land geschickt wird, um dort moralisch fragwürdige Motive zu unterstützen. Insofern ist Bitcoin unpolitisch: Das Netzwerk diskriminiert, oder besser gesagt beurteilt nicht aufgrund politischer Neigungen. Aber dies ist eigentlich nur die Definition für die eingangs erwähnte Eigenschaft von Bitcoins [Wertfreiheit](https://de.wikipedia.org/wiki/Wertfreiheit) (meiner Meinung nach eine bessere Ausdrucksweise für "Bitcoin diskriminiert nicht"). Aber Nichtdiskriminierung bzw. Wertfreiheit bedeutet nicht unbedingt unpolitisch oder apolitisch. Die Definition dieses Adjektivs bedeutet streng genommen: > \[1\] sich nicht für Politik interessierend, kein Interesse an politische Themen zeigend > \[2\] keine Steigerung: nicht die Politik betreffend, nicht zur Politik gehörend Die erste Definition, da sind wir uns sicherlich einig, sollte erfüllt sein. Bitcoin interessiert sich nicht für Politik. Bitcoin ist ein Netzwerk, ein Protokoll, ein System. Bitcoin interessiert sich nur für sich selbst. Seinen eigenen Erhalt, und die im Protokoll festgesetzten Regeln: Etwa alle 10 Minuten wird ein neuer Block produziert, egal wie viel Rechenleistung dem Netzwerk zur Verfügung steht, egal wie viele Transaktionen hinzuzufügen sind, egal wie viele Netzwerkteilnehmer partizipieren. Bei der zweiten Definition wird es allerdings etwas komplizierter. Bitcoin wurde von Satoshi als Peer-to-Peer Electronic Cash System ins Leben gerufen, das die inhärenten Schwächen des heutigen, vertrauensbasierten Modells löst. Satoshi identifizierte das Problem schon in 2009: > The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust. Der Genesis Block selbst enthält die wohl bekannteste aller Nachrichten, die jemals in der Bitcoin-Timechain verewigt wurden: <table style="min-width: 25px"> <colgroup><col></colgroup><tbody><tr><td colspan="1" rowspan="1"><p><strong>The Times 03/Jan/2009 Chancellor on brink of second bailout for banks</strong></p></td></tr></tbody> </table> \ Damit ist die Konzeption und die Erschaffung des Bitcoin-Protokolls an sich schon ein politischer Akt. Bitcoin stellt eine Alternative zu unserem derzeitigen Geldsystem dar und soll oder könnte es, im besten Fall, sogar ersetzen. Bitcoin positioniert sich als Gegenstück zum Staat - dem derzeitigen Wächter und Herrn über das Geldsystem. Der Staat ist eine von Natur aus politische Instanz. Wenn man also mit etwas konkurriert, das dem Staat obliegt, wird es automatisch politisch. Satoshi selbst war zumindest indirekt vom Libertarismus und der österreichischen Ökonomie beeinflusst. Das bedeutet keineswegs, dass jede Person, die Bitcoin verwendet, automatisch einem politischen Akt unterworfen wird, oder selbst anarchistische, libertäre oder liberale Ziele verfolgt. Allerdings bleibt nicht von der Hand zu weisen, dass Bitcoin und sein Ziel, eine Alternative zum heutigen vorherrschenden Geldsystem zu erschaffen, dadurch eine inhärent politische Bekundung ist. Wenn Bitcoin also nicht apolitisch oder unpolitisch ist, aber auch nicht explizit politisch, dann könnte man behaupten Bitcoin sei zumindest anti-politisch. Der per Definition politische Staat und die Staatsgewalt über das Geldsystem sind der erklärte Gegenspieler von Bitcoin. Damit stellt sich Bitcoin als Kontrahent zu einem System auf, das die Gewalt in die Hände einiger Weniger legt. In der Politik gewinnen oder herrschen diejenigen, die die populärste Meinung vertreten (wenn es gut läuft), oder die meiste Gewalt hinter sich bündeln (wenn es nicht so gut läuft). Im Bitcoin-Netzwerk gewinnen diejenigen, die am effizientesten die Anreizstrukturen nutzen (Miner, Mining-Pools, Lightning-Routing-Channel Betreiber, etc.), oder Bitcoin am effizientesten für sich nutzen und damit dem Ökosystem zum Wachstum verhelfen (Unternehmer, Experten, Entwickler, etc.). Die politische Gesinnung dieser Netzwerkteilnehmer spielt dabei in erster Linie absolut keine Rolle. Es ist völlig egal, ob ein Node-Betreiber zu Hause Pickelhauben sammelt oder im Che Guevara T-Shirt Bitcoin-Protokolle schreibt. <img src="https://blossom.primal.net/ad9c7de643917e5bdd8826f2eb99ee68d2668f9d5c4f2e30f9131135185a116f.gif"> Das heutige Geldsystem hat viele Nachteile, alle aufzuzählen würde den Rahmen sprengen, jedoch lassen sich einige prägnante leicht identifizieren: [Rent-Seeking](https://de.wikipedia.org/wiki/Politische_Rente#Rent-Seeking), des Bitcoiners liebstes Thema der [Cantillon-Effekt](https://de.wikipedia.org/wiki/Cantillon-Effekt), Geld- oder [Münzentwertung](https://de.wikipedia.org/wiki/M%C3%BCnzentwertung) und [Geldmarktpolitik](https://de.wikipedia.org/wiki/Geldpolitik) vereinen alle das gleiche zugrunde liegende Problem. Sie unterliegen alle der politischen Einflussnahme auf das System zum Vorteil einiger (privilegierter) Weniger. Denn was für die wenigen individuellen Vorteilsnehmer aussichtsreich und lohnenswert ist, ist für das Kollektiv schädlich und finanziell schädigend. Bitcoin stellt dazu die Alternative dar. Zwar lässt sich argumentieren, dass die vorhandene Menge und damit das Vermögen bereits heute ungerecht verteilt ist. Allerdings birgt diese Verteilung lediglich Vorteile für die Individuen, ohne jedoch das Kollektiv zu schädigen. Besitzer von großen Mengen bitcoin können genau so viel oder so wenig Einfluss auf das System nehmen, wie diejenigen, die verhältnismäßig wenig besitzen. <img src="https://blossom.primal.net/1a6299da29f1938113c427484513ec0ed186ea8d9c4d8fa334afeedfff388c63.gif"> Wenn es irgendetwas von Wert gibt, ob Geld, Edelmetalle, oder sonstige Wertgegenstände, wird es auch immer Menschen geben, die davon mehr besitzen als andere - das ist ein unumstößlicher Fakt der Natur und auch Bitcoin wird daran nichts ändern können. Allerdings bietet Bitcoin die nötigen Anreizstrukturen, den eigenen Anteil zu vermehren. Wie schon erwähnt, werden Unternehmergeist, Expertenwissen und aufgebrachte Arbeit derjenigen, die das Netzwerk voranbringen, belohnt. Im Gegensatz zum aktuellen System, in dem oft nicht nur Unternehmergeist und Arbeitsleistung belohnt werden, sondern auch politische Einflussnahme, Prestige und Macht, oder sogar schon die Nähe und der Zugang zu diesen einflussreichen Interessengruppen. Korruption, Lobbyismus und politische Vorteilsnahme führen deshalb zu unproduktiver Arbeit, bei der einzig und allein der Begünstigte profitiert. <img src="https://blossom.primal.net/e754c5dbd21217abfde5c0930a0945a13812fef69fe03249ecadd8a2d0e4a2d4.gif"> Bitcoin eliminiert diese politische Vorteilsnahme und ist dadurch schon anti-politisch. In diesem Sinne ist Bitcoin also politisch, wie alles politisch ist oder zu einem politischen Thema gemacht werden kann. Ich habe in einem früheren Artikel bereits beschrieben, dass der Staat für viele Menschen die Rolle einer Art Religion eingenommen hat und dass Bitcoin in gewisser Weise für den Staat das ist, was der Buchdruck damals für Religion war. https://www.genexyz.org/post/13-block-754250-die-vollst-ndige-adaption-von-bitcoin-und-die-3-hindernisse-74u3k2/ > Religion ist eigentlich unpolitisch, obwohl man behaupten darf, dass Kirchgänger gewisser Religionen im Allgemeinen im gleichen Bereich des politischen Spektrums wiederzufinden sind, macht dies Religion nicht von Natur aus politisch. Doch die Trennung von Kirche und Staat kann wohl als hochpolitisch bezeichnet werden. Wo Diderot, Rousseau und Voltaire eine Berufung auf die Vernunft als universelle Urteilsinstanz propagierten und einen Kampf gegen Vorurteile und für die Hinwendung zu Naturwissenschaften, religiöse Toleranz und eine Orientierung am Naturrecht einleiteten, streben Bitcoin und seine Befürworter eine Abkehr von den staatlich gesteuerten und (Fiskal- und Geld)politisch aufgeladenen Finanz- und Wirtschaftsinterventionen und eine Berufung auf Werte wie Dezentralität, Zensurresistenz und Selbstbestimmtheit an. Dasselbe gilt für die Trennung von Geld und Staat. Geld ist eigentlich unpolitisch, aber die Trennung von Geld und Staat ist hochpolitisch. Auch der Missbrauch von Geld zum Erreichen von politischen Zielen ist hochpolitisch. Wie eingangs erwähnt, wird Bitcoin so politisiert - nur eben als Gegenentwurf. Als anti-politische Alternative zum politischen Fiat-System mit all seinen Fehlern. <img src="https://blossom.primal.net/14d3f8b9916a09f4a2405c6acfe9b834216aecd32c64debcdd18e06000737dcb.gif"> Was ich damit sagen will, ist, dass Bitcoin per se politisch ist. Es ist eben nur ein anderer Entwurf zu dem politischen Denken, das heute vorherrscht. Bitcoin ist und bleibt erlaubnislos und wertfrei, damit ist die Nutzung von Bitcoin erstmal im Generellen unpolitisch. Solange bis auch einzelne Anwendungsfälle von politischer Natur sind. Bitcoin-Spenden an Wikileaks haben eine politische Tragweite. Bitcoin-Spenden an den Freedom-Convoy in Kanada sind politisch. Bitcoin-Spenden an Hodlonaut sind politisch, auch wenn es dabei um die hauseigene Politik im Bitcoin-Ökosystem geht. Man kann also nicht ohne weiteres sagen "Bitcoin ist unpolitisch". Es ist richtiger zu sagen, dass Bitcoin keine politische Meinung vertritt und sich nicht zu politischer Einflussnahme instrumentalisieren lässt. Bitcoin ist ein Protokoll, ein Netzwerk, und kümmert sich nur um sich selbst. Aber Bitcoin ist sehr wohl politisch. 🫳🎤 --- In diesem Sinne, 2... 1... Risiko!‌ 

@ 1bda7e1f:bb97c4d9

### Tldr - Nostr is an open and interoperable protocol - You can integrate it with workflow automation tools to augment your experience - n8n is a great low/no-code workflow automation tool which you can host yourself - Nostrobots allows you to integrate Nostr into n8n - In this blog I create some workflow automations for Nostr - A simple form to delegate posting notes - Push notifications for mentions on multiple accounts - Push notifications for your favourite accounts when they post a note - All workflows are provided as open source with MIT license for you to use ### Inter-op All The Things Nostr is a new open social protocol for the internet. This open nature exciting because of the opportunities for interoperability with other technologies. In [Using NFC Cards with Nostr]() I explored the `nostr:` URI to launch Nostr clients from a card tap. The interoperability of Nostr doesn't stop there. The internet has many super-powers, and Nostr is open to all of them. Simply, there's no one to stop it. There is no one in charge, there are no permissioned APIs, and there are no risks of being de-platformed. If you can imagine technologies that would work well with Nostr, then any and all of them can ride on or alongside Nostr rails. My mental model for why this is special is Google Wave ~2010. Google Wave was to be the next big platform. Lars was running it and had a big track record from Maps. I was excited for it. Then, Google pulled the plug. And, immediately all the time and capital invested in understanding and building on the platform was wasted. This cannot happen to Nostr, as there is no one to pull the plug, and maybe even no plug to pull. So long as users demand Nostr, Nostr will exist, and that is a pretty strong guarantee. It makes it worthwhile to invest in bringing Nostr into our other applications. All we need are simple ways to plug things together. ### Nostr and Workflow Automation Workflow automation is about helping people to streamline their work. As a user, the most common way I achieve this is by connecting disparate systems together. By setting up one system to trigger another or to move data between systems, I can solve for many different problems and become way more effective. #### n8n for workflow automation Many workflow automation tools exist. My favourite is [n8n](https://n8n.io/). n8n is a low/no-code workflow automation platform which allows you to build all kinds of workflows. You can use it for free, you can self-host it, it has a user-friendly UI and useful API. Vs Zapier it can be far more elaborate. Vs Make.com I find it to be more intuitive in how it abstracts away the right parts of the code, but still allows you to code when you need to. Most importantly you can plug anything into n8n: You have built-in nodes for specific applications. HTTP nodes for any other API-based service. And community nodes built by individual community members for any other purpose you can imagine. #### Eating my own dogfood It's very clear to me that there is a big design space here just demanding to be explored. If you could integrate Nostr with anything, what would you do? In my view the best way for anyone to start anything is by solving their own problem first (aka "scratching your own itch" and "eating your own dogfood"). As I get deeper into Nostr I find myself controlling multiple Npubs – to date I have a personal Npub, a brand Npub for a community I am helping, an AI assistant Npub, and various testing Npubs. I need ways to delegate access to those Npubs without handing over the keys, ways to know if they're mentioned, and ways to know if they're posting. I can build workflows with n8n to solve these issues for myself to start with, and keep expanding from there as new needs come up. ### Running n8n with Nostrobots I am mostly non-technical with a very helpful AI. To set up n8n to work with Nostr and operate these workflows should be possible for anyone with basic technology skills. - I have a cheap VPS which currently runs my [HAVEN Nostr Relay](https://rodbishop.npub.pro/post/8ca68889/) and [Albyhub Lightning Node](https://rodbishop.npub.pro/post/setting-up-payments-on-nostr-7o6ls7/) in Docker containers, - My objective was to set up n8n to run alongside these in a separate Docker container on the same server, install the required nodes, and then build and host my workflows. #### Installing n8n Self-hosting n8n could not be easier. I followed n8n's [Docker-Compose installation docs](https://docs.n8n.io/hosting/installation/server-setups/docker-compose/)– - Install Docker and Docker-Compose if you haven't already, - Create your ``docker-compose.yml`` and `.env` files from the docs, - Create your data folder `sudo docker volume create n8n_data`, - Start your container with `sudo docker compose up -d`, - Your n8n instance should be online at port `5678`. n8n is free to self-host but does require a license. Enter your credentials into n8n to get your free license key. You should now have access to the Workflow dashboard and can create and host any kind of workflows from there. #### Installing Nostrobots To integrate n8n nicely with Nostr, I used the [Nostrobots](https://github.com/ocknamo/n8n-nodes-nostrobots?tab=readme-ov-file) community node by [Ocknamo](nostr:npub1y6aja0kkc4fdvuxgqjcdv4fx0v7xv2epuqnddey2eyaxquznp9vq0tp75l). In n8n parlance a "node" enables certain functionality as a step in a workflow e.g. a "set" node sets a variable, a "send email" node sends an email. n8n comes with all kinds of "official" nodes installed by default, and Nostr is not amongst them. However, n8n also comes with a framework for community members to create their own "community" nodes, which is where Nostrobots comes in. You can only use a community node in a self-hosted n8n instance (which is what you have if you are running in Docker on your own server, but this limitation does prevent you from using n8n's own hosted alternative). To install a community node, [see n8n community node docs](https://docs.n8n.io/integrations/community-nodes/installation/gui-install/). From your workflow dashboard– - Click the "..." in the bottom left corner beside your username, and click "settings", - Cilck "community nodes" left sidebar, - Click "Install", - Enter the "npm Package Name" which is `n8n-nodes-nostrobots`, - Accept the risks and click "Install", - Nostrobots is now added to your n8n instance. #### Using Nostrobots Nostrobots gives you nodes to help you build Nostr-integrated workflows– - **Nostr Write** – for posting Notes to the Nostr network, - **Nostr Read** – for reading Notes from the Nostr network, and - **Nostr Utils** – for performing certain conversions you may need (e.g. from bech32 to hex). Nostrobots has [good documentation](https://github.com/ocknamo/n8n-nodes-nostrobots?tab=readme-ov-file) on each node which focuses on simple use cases. Each node has a "convenience mode" by default. For example, the "Read" Node by default will fetch Kind 1 notes by a simple filter, in Nostrobots parlance a "Strategy". For example, with Strategy set to "Mention" the node will accept a pubkey and fetch all Kind 1 notes that Mention the pubkey within a time period. This is very good for quick use. What wasn't clear to me initially (until Ocknamo helped me out) is that advanced use cases are also possible. Each node also has an advanced mode. For example, the "Read" Node can have "Strategy" set to "RawFilter(advanced)". Now the node will accept json (anything you like that complies with [NIP-01](https://github.com/nostr-protocol/nips/blob/master/01.md)). You can use this to query Notes (Kind 1) as above, and also Profiles (Kind 0), Follow Lists (Kind 3), Reactions (Kind 7), Zaps (Kind 9734/9735), and anything else you can think of. #### Creating and adding workflows With n8n and Nostrobots installed, you can now create or add any kind of Nostr Workflow Automation. - Click "Add workflow" to go to the workflow builder screen, - If you would like to build your own workflow, you can start with adding any node. Click "+" and see what is available. Type "Nostr" to explore the Nostrobots nodes you have added, - If you would like to add workflows that someone else has built, click "..." in the top right. Then click "import from URL" and paste in the URL of any workflow you would like to use (including the ones I share later in this article). ### Nostr Workflow Automations It's time to build some things! #### A simple form to post a note to Nostr I started very simply. I needed to delegate the ability to post to Npubs that I own in order that a (future) team can test things for me. I don't want to worry about managing or training those people on how to use keys, and I want to revoke access easily. I needed a basic form with credentials that posted a Note. For this I can use a very simple workflow– - **A n8n Form node** – Creates a form for users to enter the note they wish to post. Allows for the form to be protected by a username and password. This node is the workflow "trigger" so that the workflow runs each time the form is submitted. - **A Set node** – Allows me to set some variables, in this case I set the relays that I intend to use. I typically add a Set node immediately following the trigger node, and put all the variables I need in this. It helps to make the workflows easier to update and maintain. - **A Nostr Write node** (from Nostrobots) – Writes a Kind-1 note to the Nostr network. It accepts Nostr credentials, the output of the Form node, and the relays from the Set node, and posts the Note to those relays. Once the workflow is built, you can test it with the testing form URL, and set it to "Active" to use the production form URL. That's it. You can now give posting access to anyone for any Npub. To revoke access, simply change the credentials or set to workflow to "Inactive". It may also be the world's simplest Nostr client. You can find the [Nostr Form to Post a Note workflow here](https://github.com/r0d8lsh0p/nostr-n8n/blob/main/Nostr_Form_to_Post_a_Note.json). #### Push notifications on mentions and new notes One of the things Nostr is not very good at is push notifications. Furthermore I have some unique itches to scratch. I want– - **To make sure I never miss a note addressed to any of my Npubs** – For this I want a push notification any time any Nostr user mentions any of my Npubs, - **To make sure I always see all notes from key accounts** – For this I need a push notification any time any of my Npubs post any Notes to the network, - **To get these notifications on all of my devices** – Not just my phone where my Nostr regular client lives, but also on each of my laptops to suit wherever I am working that day. I needed to build a Nostr push notifications solution. To build this workflow I had to string a few ideas together– - **Triggering the node on a schedule** – Nostrobots does not include a trigger node. As every workflow starts with a trigger we needed a different method. I elected to run the workflow on a schedule of every 10-minutes. Frequent enough to see Notes while they are hot, but infrequent enough to not burden public relays or get rate-limited, - **Storing a list of Npubs in a Nostr list** – I needed a way to store the list of Npubs that trigger my notifications. I initially used an array defined in the workflow, this worked fine. Then I decided to try Nostr lists ([NIP-51, kind 30000](https://github.com/nostr-protocol/nips/blob/master/51.md)). By defining my list of Npubs as a list published to Nostr I can control my list from within a Nostr client (e.g. [Listr.lol](https://listr.lol/npub1r0d8u8mnj6769500nypnm28a9hpk9qg8jr0ehe30tygr3wuhcnvs4rfsft) or [Nostrudel.ninja](https://nostrudel.ninja/#/lists)). Not only does this "just work", but because it's based on Nostr lists automagically Amethyst client allows me to browse that list as a Feed, and everyone I add gets notified in their Mentions, - **Using specific relays** – I needed to query the right relays, including my own HAVEN relay inbox for notes addressed to me, and wss://purplepag.es for Nostr profile metadata, - **Querying Nostr events** (with Nostrobots) – I needed to make use of many different Nostr queries and use quite a wide range of what Nostrobots can do– - I read the EventID of my Kind 30000 list, to return the desired pubkeys, - For notifications on mentions, I read all Kind 1 notes that mention that pubkey, - For notifications on new notes, I read all Kind 1 notes published by that pubkey, - Where there are notes, I read the Kind 0 profile metadata event of that pubkey to get the displayName of the relevant Npub, - I transform the EventID into a Nevent to help clients find it. - **Using the Nostr URI** – As I did with my NFC card article, I created a link with the `nostr:` URI prefix so that my phone's native client opens the link by default, - **Push notifications solution** – I needed a push notifications solution. I found many with n8n integrations and chose to go with [Pushover](https://pushover.net/) which supports all my devices, has a free trial, and is unfairly cheap with a $5-per-device perpetual license. Once the workflow was built, lists published, and Pushover installed on my phone, I was fully set up with push notifications on Nostr. I have used these workflows for several weeks now and made various tweaks as I went. They are feeling robust and I'd welcome you to give them a go. You can find the [Nostr Push Notification If Mentioned here](https://github.com/r0d8lsh0p/nostr-n8n/blob/main/Nostr_Push_Notify_If_Mentioned.json) and [If Posts a Note here](https://github.com/r0d8lsh0p/nostr-n8n/blob/main/Nostr_Push_Notify_If_Post_a_Note.json). In speaking with other Nostr users while I was building this, there are all kind of other needs for push notifications too – like on replies to a certain bookmarked note, or when a followed Npub starts streaming on zap.stream. These are all possible. #### Use my workflows I have open sourced all my workflows at my [Github](https://github.com/r0d8lsh0p/nostr-n8n) with MIT license and tried to write complete docs, so that you can import them into your n8n and configure them for your own use. To import any of my workflows– - Click on the workflow of your choice, e.g. "[Nostr_Push_Notify_If_Mentioned.json](https://github.com/r0d8lsh0p/nostr-n8n/blob/main/Nostr_Push_Notify_If_Mentioned.json "Nostr_Push_Notify_If_Mentioned.json")", - Click on the "raw" button to view the raw JSON, ex any Github page layout, - Copy that URL, - Enter that URL in the "import from URL" dialog [mentioned above](#creating-and-adding-workflows). To configure them– - Prerequisites, credentials, and variables are all stated, - In general any variables required are entered into a Set Node that follows the trigger node, - Pushover has some extra setup but is very straightforward and documented in the workflow. ### What next? Over my first four blogs I explored creating a good Nostr setup with [Vanity Npub](https://rodbishop.npub.pro/post/mining-your-vanity-pubkey-4iupbf/), [Lightning Payments](https://rodbishop.npub.pro/post/setting-up-payments-on-nostr-7o6ls7/), [Nostr Addresses at Your Domain](https://rodbishop.npub.pro/post/ee8a46bc/), and [Personal Nostr Relay](https://rodbishop.npub.pro/post/8ca68889/). Then in my latest two blogs I explored different types of interoperability [with NFC cards](https://rodbishop.npub.pro/post/edde8387/) and now n8n Workflow Automation. Thinking ahead n8n can power any kind of interoperability between Nostr and any other legacy technology solution. On my mind as I write this: - Further enhancements to posting and delegating solutions and forms (enhanced UI or different note kinds), - Automated or scheduled posting (such as auto-liking everything [Lyn Alden](nostr:npub1a2cww4kn9wqte4ry70vyfwqyqvpswksna27rtxd8vty6c74era8sdcw83a) posts), - Further enhancements to push notifications, on new and different types of events (such as notifying me when I get a new follower, on replies to certain posts, or when a user starts streaming), - All kinds of bridges, such as bridging notes to and from Telegram, Slack, or Campfire. Or bridging RSS or other event feeds to Nostr, - All kinds of other automation (such as [BlackCoffee](nostr:npub1dqepr0g4t3ahvnjtnxazvws4rkqjpxl854n29wcew8wph0fmw90qlsmmgt) [controlling a coffee machine](https://primal.net/e/note16fzhh5yfc3u4kufx0mck63tsfperdrlpp96am2lmq066cnuqutds8retc3)), - All kinds of AI Assistants and Agents, In fact I have already released an open source workflow for an [AI Assistant](https://primal.net/p/npub1ahjpx53ewavp23g5zj9jgyfrpr8djmgjzg5mpe4xd0z69dqvq0kq2lf353), and will share more about that in my next blog. Please be sure to let me know if you think there's another Nostr topic you'd like to see me tackle. GM Nostr.

@ a012dc82:6458a70d

**Table Of Content** - A Series of Banking Collapses - Federal Reserve's Counteraction - The Impact on Bitcoin - Market's Delayed Reaction - Bitcoin's Future Amidst Monetary Policies - Conclusions - FAQ Bitcoin, the digital gold of the 21st century, has always been at the center of discussions in the financial and tech worlds. Its volatile price movements and its potential to revolutionize the financial sector make it a hot topic. Among the many voices opining on Bitcoin's trajectory, Arthur Hayes, co-founder and former CEO of BitMEX, stands out with his unique insights. He firmly believes that March was a defining month that signaled the onset of a bullish trend for Bitcoin. This article aims to unpack Hayes' perspective and understand the reasons behind his belief. **A Series of Banking Collapses** March of this year wasn't just another month on the financial calendar; it was a month marked by significant banking disturbances. Hayes attributes the beginning of Bitcoin's bull run to a specific date: March 10. On this day, the Silicon Valley Bank (SVB) was taken over by the Federal Deposit Insurance Corporation, a significant event in the banking world. But this wasn't an isolated incident. Just two days before, on March 8, Silvergate Bank faced liquidation, sending ripples of concern through the financial community. This wave of uncertainty continued when, on March 12, Signature Bank was compelled to shut its doors due to intervention by New York regulators. These back-to-back banking crises set the stage for what was to come in the cryptocurrency realm. **Federal Reserve's Counteraction** Reacting to the unfolding banking crises, the Federal Reserve took a decisive step. They introduced the Bank Term Funding Program (BTFP), a strategic move aimed at stabilizing the banking sector. This program was designed to offer banks loans that could extend up to a year. However, there was a catch: banks had to post "qualifying assets" as collateral to avail themselves of these loans. Hayes viewed this initiative as a clear attempt by the Federal Reserve to provide a safety net for the entire banking system. In his interpretation, the Fed's message was straightforward: "Exchange your devalued bonds for fresh dollars, and let's stabilize the system." **The Impact on Bitcoin** The repercussions of the banking crises and the Federal Reserve's countermeasures were felt in the cryptocurrency market, particularly in Bitcoin's price dynamics. Following these events, Bitcoin's price began its upward trajectory, registering an impressive increase of approximately 26%. Hayes believes that the Federal Reserve's actions, combined with the growing skepticism towards the value of fiat currencies, played a pivotal role in this surge. As faith in traditional currencies waned, traders and investors began to see the appeal of fixed-supply assets, with Bitcoin emerging as the prime contender. **Market's Delayed Reaction** While the indicators pointing to a bullish trend in Bitcoin are clear to some, Hayes observes that the broader market has been somewhat sluggish in its response. This delay in market reaction is not uncommon in the financial world, where multiple factors influence decision-making processes. However, Hayes remains undeterred in his optimism. He anticipates that within a span of six to twelve months, the market will not only recognize but also react positively to this bullish trend, further propelling Bitcoin's growth. **Bitcoin's Future Amidst Monetary Policies** Hayes' bullish stance on Bitcoin extends beyond just its recent performance. He envisions a bright future for the cryptocurrency, irrespective of the monetary decisions taken by institutions like the Federal Reserve. Whether the Fed opts for interest rate hikes to induce economic tightening or chooses the path of printing more money to infuse liquidity into the system, Hayes believes Bitcoin is poised to benefit. In his perspective, the inherent properties of Bitcoin, combined with its decentralized nature, position it favorably to thrive amidst varying economic scenarios. **Conclusion** Arthur Hayes' insights offer a deep dive into the intricate dynamics between traditional banking systems, global monetary policies, and the burgeoning world of cryptocurrencies. As we stand at the crossroads of financial evolution, understanding these interplays becomes crucial. Hayes' conviction that March marked the commencement of Bitcoin's bullish trend provides not just a perspective but also a beacon for those navigating the cryptocurrency waters. His analysis underscores the potential of Bitcoin and offers a glimpse into its promising future in the ever-evolving financial landscape. **FAQ** **When did Hayes believe the Bitcoin bull run started?** Hayes believes that the Bitcoin bull run began on March 10. **What significant event occurred on March 10?** On March 10, the Silicon Valley Bank (SVB) was taken over by the Federal Deposit Insurance Corporation. **How did the Federal Reserve respond to banking crises?** The Federal Reserve introduced the Bank Term Funding Program (BTFP) to stabilize the banking sector by offering loans in exchange for "qualifying assets" as collateral. **What impact did these events have on Bitcoin?** Following these events, Bitcoin's price surged by approximately 26%, marking the beginning of its bullish trend. **That's all for today** **If you want more, be sure to follow us on:** **NOSTR: croxroad@getalby.com** **X: [@croxroadnews](https://x.com/croxroadnewsco)** **Instagram: [@croxroadnews.co](https://www.instagram.com/croxroadnews.co/)** **Youtube: [@croxroadnews](https://www.youtube.com/@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.*

@ 2063cd79:57bd1320

### Aufgabe von Minern Wer sich nochmal genau mit dem Ablauf von Mining befassen möchte, dem rate ich Ausgabe #27 zu lesen. https://www.genexyz.org/post/27-block-779000-was-machen-miner-wirklich-3c8f05/ Wir erinnern uns, dass es im Bitcoin-Ökosystem drei große Gruppen gibt, die sich nicht jeweils ausschließen. Es gibt die Miner, die Node-Betreiber und die Nutzer. Diese schließen sich nicht gegenseitig aus, da man auch in zwei oder sogar drei dieser Gruppen verhaftet sein kann. Die Miner übernehmen Aufgaben, die die anderen zwei Gruppen nicht leisten können und dafür werden sie durch den Anreizmechanismus belohnt. Denn durch ihre Arbeit gewährleisten sie die Sicherung des Netzwerks (je höher die aufgebrachte Hashrate, desto schwieriger werden Angriffe), sie validieren, sortieren und fügen Transaktionen dem Netzwerk hinzu und darüber hinaus helfen sie dabei bitcoins zu verteilen (zumindest bis alle ca. 21 Millionen bitcoins in ca. 100 Jahren erschlossen wurden). Warum die Analogie zum Mining schwierig ist, haben wir schon öfter besprochen, kurz und verständlich auf den Punkt gebracht hat es diese Woche Gigi in einem kurzen Beitrag. https://dergigi.com/2023/04/12/bitcoins-are-not-mined-they-are-issued-over-time ### Mining Pools Ich habe Mining-Pools detailliert in einem Artikel letzten September beschrieben. Wer sich mit dem Thema nochmal eingehender beschäftigen möchte, kann das hier tun: https://www.genexyz.org/post/12-block-753150-bitcoin-mining-pools-vs-dezentralisierung-vytfxv/ Doch TL;DR für all diejenigen, die keine Zeit oder Lust haben, hier in Kürze: Die immer weiter steigende Hashrate im Netzwerk, ausgelöst durch immer größer werdende Mining-Operationen und immer leistungsfähigere ASIC Chips, führt dazu, dass es kleine und auch mittelgroße Miner immer schwerer haben erfolgreich Bitcoins zu minen, und damit Profite zu erzielen. Mining-Pools bieten da Abhilfe, indem sie Minern die Möglichkeit bieten, ihre Hashrate zu bündeln und somit eine größere Wahrscheinlichkeit erzeugen, im Wettkampf um die Winner-take-all-Prämie, einen Teil der Belohnung in Form von Block-Subsidy und Gebühren einzustreichen (➡️ Block Reward). Je mehr Miner sich in einem Pool zusammenschließen, um somit die Hashrate zu bündeln, desto wahrscheinlicher wird, dass dieser Zusammenschluss von Minern den nächsten Block findet. Damit sinkt natürlich die einzelne Auszahlung pro Block, jedoch steigt die proportionelle Anzahl der Blocks, die dieser Pool erfolgreich produzieren kann. <img src="https://blossom.primal.net/4710bbc07d6855d5113a4fff83ced34b32c66c95a3eb3d57c1dd2f17a13f95f9.gif"> Diese Rechnung lohnt sich neben Mining-Farmen auch für die meisten kleinen und mittelgroßen Miner, da so ein stetiger Fluss von Einkommen wahrscheinlicher wird, als ab-und-zu (oder nie) den Jackpot zu knacken. Das Problem bei Mining-Pools besteht in der Bündelung der Hashrate unter einer übersichtlichen Anzahl von Betreibern, denn erstens macht es jede Konzentration einer bestimmten Sache für Angreifer einfacher, diese eine große Einheit ausfindig zu machen und gezielt zu attackieren. Und zweitens verschiebt sich die dezentrale Wahrheitsfindung zugunsten einer zentralisierten Entscheidungsfindung. <img src="https://blossom.primal.net/38706ef056b6fdbe3512285d8e2bbd30e0e1b6a7aa719ae9370c513ec58f00f1.gif"> Denn bisher sind es die Mining-Pools, die über die Architektur der Blöcke bestimmen, also darüber, welche Transaktionen in den nächsten Blockkandidaten gepackt werden. Dies ermöglicht Mining-Pool-Betreibern sowohl Transaktionen zu zensieren (black listing), als auch Transaktionen auszuwählen, die nicht unbedingt im besten Interesse der Miner (z.B. Transaktionen mit geringen Gebühren, obwohl es welche mit hohen Gebühren gegeben hätte), oder gar des ganzen Netzwerks sind (z.B. leere Blöcke, um das Netzwerk zu verlangsamen) (white listing). Diese vermeintliche Macht der Pool-Betreiber muss nicht unbedingt von ihnen selbst ausgenutzt werden, bietet aber auch Regierungen und anderen Apparaten einen leichten Angriffsvektor, wenn diese versuchen wollen, das Netzwerk, bzw. einzelne Transaktionen gezielt zu zensieren, indem sie Mining-Pools unter Zwang setzen. <img src="https://blossom.primal.net/8bc2577da8654edf9e3181f6a63d7095ad20c48dded03f44f144a8a033a1b71d.png"> Wie in dieser Grafik leicht ersichtlich, gibt es heute einige wenige Pools, die einen deutlichen Anteil der globalen Hashrate bündeln. 80% (!!!) der Hashrate wird von den größten vier Pools bestimmt, und immerhin 55% (also mehr als die Hälfte - immer noch nicht cool) von den beiden größten. Dies macht Pools natürlich zu einem leicht bestimmbaren Angriffspunkt mit einer riesigen Zielscheibe auf dem Rücken. <img src="https://blossom.primal.net/a410e95c1eb6db08243d798f0b3bab1d531dde1a7132b42ec92242305322254c.gif"> Besteht überhaupt eine solche theoretische Möglichkeit, dass z.B. Foundry USA im Rahmen einer hypothetischen Verpflichtung durch Dritte (Regierung, Finanzaufsicht, Geheimdienst, etc.) mit der Zensur bestimmter Transaktionen beginnen könnte? Die Antwort ist: theoretisch erstmal ja. Auf technischer Ebene könnte es passieren. Doch Miner würden sehr schnell erkennen, dass etwas im Busch ist und ihre Hashrate auf andere Pools verlagern (dies muss nicht mal aus altruistischen Gründen geschehen, sondern einfach weil theoretische wirtschaftliche Anreize verloren gehen). ### Transaktionsauswahl Wie schon erwähnt, sind Mining-Pool-Betreiber heute dafür verantwortlich Transaktionen für den nächsten Block vorzuschlagen. Das bedeutet der Betreiber hat die volle Kontrolle darüber, wie der nächste Block im Mining-Prozess aussieht und die Miner und Mining-Farmen werden sozusagen zu Lieferanten von Hashrate, um diesen Vorschlag umzusetzen. Pools stellen den einzigen Koordinierungspunkt zwischen den teilnehmenden Hardware-Betreibern dar. Es bleibt dem Miner natürlich selbst überlassen, welchem Pool er sich anschließt (und ob sich überhaupt einem Pool angeschlossen wird) und auch der Wechsel von einem Pool zum nächsten ist relativ simpel und schnell vollzogen. Es bleibt jedoch dabei - Betreiber sind verantwortlich für die Auswahl von Transaktionen, die in die Kandidaten-Blöcke eingefügt (oder unterlassen, sprich zensiert) werden sollen. Es besteht also eine zusätzliche Bürde für jeden Miner zusätzlich zu kontrollieren, dass keine Transaktionen ausgeschlossen werden, oder Transaktionen sauber ausgewählt werden. > “Bitcoin is dead.” “Mining is over.” “They will regulate Bitcoin.” “Censorship will come.” - Peter Todd https://www.coindesk.com/tech/2021/05/07/marathon-miners-have-started-censoring-bitcoin-transactions-heres-what-that-means Ob nun ein Pool-Betreiber oder Miner durch Zwang dazu geführt wird, individuelle Transaktionen hinzuzufügen, oder auszulassen, oder ob es aus eigenem Antrieb heraus geschieht (wie im obigen Artikel von MARA beschrieben: der von Marathon kontrollierte MARA Pool hatte entschieden, nur Blöcke mit OFAC-konformen Transaktionen zu produzieren und damit Transaktionen von und zu Adressen zu zensieren, die vom US-Finanzministerium auf die schwarze Liste gesetzt wurden, was einen großen Aufstand hervorrief und kein anderer Miner schloss sich dem Beispiel an. MARA veröffentlichten nach nur einem Monat in einer Pressemitteilung, dass keine Transaktionen mehr gefiltert würden.) ist dabei zunächst egal. Doch eine Umkehrung der Verantwortlichkeit würde die Verantwortung zu den einzelnen tausenden Hardware-Betreibern (Minern) verschieben, die zentrale Entscheidungsgewalt der Pool-Betreiber auflösen und einen großen Angriffspunkt im Netzwerk eliminieren. Wie alle anderen Computer-Netzwerk, besteht auch Bitcoin aus Protokollen, mit denen die Kommunikation zwischen Teilnehmern und Regeln festgelegt werden und die geschilderten Bedrohungen werden durch das aktuelle Protokoll ermöglicht, das von Minern und Mining-Pools verwendet wird, um miteinander zu kommunizieren: Stratum V1. ### Stratum v2 Wie bei allen Sachen im Bitcoin-Ökosystem, gibt es keine zentrale Organisation, die Verbesserungen im Protokoll oder, wie in diesem Fall, in untergeordneten Protokollen vorschlagen und umsetzen kann. Es bedarf immer einer Gruppe von Entwicklern, die ein Problem im derzeitigen System erkennen und einen passenden Lösungsvorschlag unterbreiten. So auch bei Stratum. Das originale Stratum-Protokoll (v1) wurde 2012 eingeführt und wird seitdem weitgehend unverändert eingesetzt. Bei der Stratum v2 Reference Implementation (SRI) handelt es sich um eine kostenlose, unabhängige, Open-Source-Variante von Stratum v2. Aber Justus, heißt das etwa, es gibt noch andere Stratum v2 Varianten? Bingo, Zweiter, es können beliebig viele Varianten erstellt werden. Alleine die Mining Pools entscheiden darüber, welches Protokoll, also welche Software, für sie und ihr Geschäftsmodell am besten funktioniert. Und die kürzlich vorgestellte Variante, die SRI, ist das bis dato umfangreichste und am weitesten unterstützte Update des Protokolls. Denn sowohl Braiins, ein Anbieter von Mining-Pools und Mining-Software (inkl. einer eigenen Variante von Stratum v2), als auch Foundry USA, der derzeit größte aller Mining-Pools, sind aktive Unterstützer des Projekts. SRI ist also das wichtigste Protokoll-Update seit 2012. Aber was genau macht v2 so wichtig und wo liegen die Schwächen von v1? In der aktuellen Version 1 ist Datenübertragung zwischen Minern, aber auch zwischen Minern und Pool-Betreibern nicht verschlüsselt. In v2 wird Kommunikation verschlüsselt und gewährleistet so Integrität und Vertraulichkeit der übermittelten Informationen. Dies soll vor allem vor sogenannten Man-in-the-Middle-Angriffen schützen, bei denen Dritte die Übertragung von Hashrate zwischen Minern und Pools abfangen (sogenanntes Hashrate-Hijacking), und diese als die eigenen weiterzuleiten und somit Auszahlungen zu stehlen. <img src="https://blossom.primal.net/4b8c8cd2516f13dddd85a20914e4572d6f45779b4976a9bf8e8c01f0ae73e210.gif"> Das v2 Protokoll ist vollständig binär. Das heißt, Datenübertragungen werden nicht in Menschen-lesbarem Textformat (ASCII Code), sondern in Computer-lesbarem Binärformat vorgenommen, was unnötige Datenmengen eliminiert. Dies und einige andere Leistungsverbesserungen machen den gesamten Prozess bis zu 20% performanter. Stratum v2 dezentralisiert das Bitcoin-Mining erheblich, denn Miner bekommen die Möglichkeit, die Transaktionen fortan selbst auszuwählen, wodurch das Netzwerk zensurresistenter wird. Dies wird mit Hilfe von weiteren untergeordneten Protokollen erreicht, die es Minern ermöglichen, Transaktionen über ihre Nodes auszuwählen. Dies ist ein wichtiger Meilenstein bei der Demokratisierung der Transaktionsauswahl im gepoolten Mining und eliminiert die oben beschriebenen Risiken. <img src="https://blossom.primal.net/c0770fc98a4e4773cdf4c9800adc33d4230fd09937ec38e3a4a2739a49355e29.gif"> Konkret haben die Entwickler ein neues dezentralisiertes untergeordnetes Protokoll geschaffen, das sich Job Negotiator (JN) nennt. Achtung, jetzt wird es etwas technisch: Miner betreiben ihre eigenen Knoten, die eine neue Vorlage direkt vom Vorlagenanbieter erhalten. Die neue Vorlage enthält den Merkle-Pfad der Transaktionen, die vom Anbieter ausgewählt wurden. Für den neuen Block muss ein neuer Job erstellt werden, also sendet der JN des Miners eine Nachricht mit einem vorgeschlagenen Satz von Transaktionen an den Pool-Betreiber. Der Betreiber akzeptiert dann die Vorlage oder lehnt sie ab. Wenn der Vorschlag der Miner akzeptiert wird, werden sie benachrichtigt, dass sie mit dem Mining beginnen und ihre anteilige Hashrate an den Pool senden können. <img src="https://blossom.primal.net/eef7101ea3afc933f89cc3de53f0009974a653c570bad69af29b69161d2e9d98.gif"> Kurz gesagt: Miner schlagen vor, welche Transaktionen in einen Block kommen und nicht andersrum. Alle sind glücklich, alle sind froh und darüber hinaus geschieht dies natürlich blitzschnell, sodass für die Miner und den Pool kein Nachteil gegenüber anderen Mitbewerbern entsteht, denn beim Mining zählt jede Millisekunde, wenn es darum geht erfolgreich den nächsten Block produzieren zu dürfen, oder nicht. Was sind die Anreize für die Pool-Betreiber, dieses neue Protokoll zu verwenden, wenn sie damit ihr Gewaltmonopol aufgeben? Relativ einfach: Pool-Betreiber mögen diese Verantwortung eigentlich gar nicht. Sie haben sie irgendwie geerbt und sind mit dieser großen Verpflichtung gegenüber dem Netzwerk und sich selbst irgendwie im Unreinen. Ein bisschen so wie bei Morty, Aaliyah, Djibrail, Laila, Issa, Leonora, Naima und Amaya. <img src="https://blossom.primal.net/3440f6667f8affc1bae67888b55c302361ff2aa31fb9f0c23595de96a34f1141.gif"> Pool-Betreiber mögen es also nicht so in der Öffentlichkeit zu stehen und permanent angegriffen zu werden, des Weiteren birgt die Transaktionsauswahl auch ein gewisses Haftungsrisiko, das sie gerne von sich weisen würden. Die beiden anderen grundlegenden Merkmale des Stratum v2 Protokolls sind, wie oben beschrieben, natürlich auch Sicherheits- und Leistungsverbesserung. Alleine für diese Attribute würde es sich schon lohnen, auf das neue Protokoll umzusteigen. Die neue Variante des Protokolls (SRI) wurde erst kürzlich öffentlich und als Open-Source Code zugänglich gemacht. Es bleibt also nur eine Frage der Zeit, bis sich nach Braiins und Foundry auch die anderen Mining-Pools (sehr wahrscheinlich) nach einer gründlichen Test-Phase dem Update öffnen. https://www.nobsbitcoin.com/carole-house-censoring-bitcoin Besonders in Zeiten, in denen Gegner von Bitcoin in halb-öffentlichen Reden über Pläne sprechen, wie man das Bitcoin-Netzwerk kontrollieren, bzw. für seine Zwecke benutzen kann, ist es wichtig die oben besprochenen Angriffs-Vektoren zu minimieren. Carole House, ehemalige Direktorin für Cybersicherheit des Nationalen Sicherheitsrates des Weißen Hauses, sprach bei einem Event an der Universität von Princeton und sagte "sie würde lieber mehr Hashrate in den USA sehen, damit sie Miner zwingen können, das Netzwerk zu zensieren" und dass es "nicht nur darum ginge, Minern zu sagen, dass sie bestimmte Transaktionen nicht in Blöcke einbauen, sondern auch nicht auf Blöcken mit nicht konformen Transaktionen aufzubauen, damit diese Transaktionen nirgendwo in der Kette ankommen". Die zeugt davon, dass Menschen wie Carole House ein substantielles Verständnis von der Bitcoin-Technologie besitzen und dieses Fachwissen dafür verwenden werden, Wege und Mittel aufzutun, wie man Bitcoin zumindest attackieren kann. 🫳🎤 --- In diesem Sinne, 2... 1... Risiko!‌ 

@ 5188521b:008eb518

My experience of [daily posting on LinkedIn](https://www.linkedin.com/in/totallyhumanwriter/) started around three years ago, when I became more serious about my coaching business. In that time, I amassed 25,000 followers and garnered around 3 million impressions on my writing. It was a wild ride, but now it’s time to leave the theme park. # Reasons I Quit Posting on LinkedIn Here they are, in no particular order: 1. I went from coach to ghostwriter. 2024 threw up an unexpected career change. Since 2018, I've been a coach, moving from teaching English as a foreign language to working with groups of multilingual pro writers looking for better opportunities. Coaching is a tough industry (maybe I'll write about that someday). My idea was to write more meaningful words and less copy to market my coaching business. Ultimately, writing to develop the Bitcoin ecosystem is what I find meaningful, and writing for hire doesn't require as much copywriting as being a coach. With a solid portfolio, contacts, and profile, potential clients can see your results. You don't need to attract a ton of inbound leads by writing funny bits and wow-inducing educational posts on LinkedIn. 2. Time constraints Because of my own book marketing, new client work, and projects like [21 Futures](https://21futures.com/), I can't dedicate my creative efforts and several hours per week to writing on LinkedIn. That time works better for me elsewhere. 3. Worsening distribution 'Creators' (a.k.a. active posters with many followers) often say changes to the algorithm don't matter. 'Get on with it. Adapt and move forward.' I'd be lying if I said I'm happy seeing statistics for my posts plummet. In 2022 and 2023, a successful carousel might net 20,000 views with over 150 likes and 50+ comments. Now, an exceptional post for me attracts 5,000 views with 50 likes. I won't bore you with charts and statistics, but this is an average, based on hundreds of posts. It seems LinkedIn is reducing the reach of big accounts in favour of tighter networks and distributing the work of those with &lt;5k followers. That's fine. Perhaps that will make the platform less showy, and less boastful, finally ridding us of fake stories, surprising hacks, and ultimate guides. Still, It makes creative types like me feel like failures. Does an 80% decrease in distribution seem fair for the three years of daily effort I've put in? Should I keep struggling for diminishing returns? No. Creative people must seek the best return on investment for their time. The lesson? Distribution is more important than follower numbers. I've also quit Medium, where I have 2,000 followers and regularly receive single-digit reads on my posts. 4. LinkedIn values machines over humans. Cost-cutting, extracting value, and planning for a robotic future. That's Microsoft's MO. Despite being a social network with over 1 billion users, LinkedIn seemingly relies on automated support to make decisions on which content, people, and ideas are allowed on the platform. Users' data is parsed without their express consent.\ LinkedIn seems desperate for us to use generative AI to express our 'insight'.\ We are constantly bombarded by LLM drivel and boring machine-made content. If you can't be bothered to write it, why should I bother to read it? As somebody who brands himself a human-centric writer, why would I offer up personal takes and stories writing for free in an AI-filled swamp? --- # What's next? So I'm giving up posting on LinkedIn. With that said, it can still produce a great benefit for its users, especially those in the bitcoin space. Why? The ability to search for potential connections, present your profile, and share your expertise can make a huge difference to your work - investment, partnership, and customers. If you have a smaller network and have the need to share personal takes, opinions, and expertise, posting on LinkedIn is worth it. So few are doing this in bitcoin, the opportunities in 2025 are mind-boggling. Next year, thousands of new startups and ventures will be vying for our attention. Those who can build trust and stay true to their message will win. And if LinkedIn stops working, you can always take your followers elsewhere. If you have read and enjoyed my words here on LinkedIn in the last three years, thank you. It has been a much-needed creative outlet and has brought me opportunities, laughs, knowledge, new colleagues, and friends. I'll still be stalking your posts and writing sarcastic comments. --- # Where can you find me: Bitcoin writing - [X](https://x.com/21Futures), [StackerNews](https://stacker.news/21futures) [21futures.com](https://21futures.com/)\ NOSTR - npub12xy9yxej6s9hgzsn3rfyfc3xgtdr29wqlvulquzhz2fhqqywk5vqnyvqut), [Totallyhumanwriter.com](https://totallyhumanwriter.com/) - website coming soon. [Maximum Freedom, Minimum Bullshit](https://maximumfreedom.substack.com/) on Substack. And you can reach me via email at philipcharterauthor@gmail.com I'm interested to know your thoughts and plans for 2025. Where will you be writing and why?

@ f9cf4e94:96abc355

Scuttlebutt foi iniciado em maio de 2014 por Dominic Tarr ( [dominictarr]( https://github.com/dominictarr/scuttlebutt) ) como uma rede social alternativa off-line, primeiro para convidados, que permite aos usuários obter controle total de seus dados e privacidade. Secure Scuttlebutt ([ssb]( https://github.com/ssbc/ssb-db)) foi lançado pouco depois, o que coloca a privacidade em primeiro plano com mais recursos de criptografia. Se você está se perguntando de onde diabos veio o nome Scuttlebutt: > Este termo do século 19 para uma fofoca vem do Scuttlebutt náutico: “um barril de água mantido no convés, com um buraco para uma xícara”. A gíria náutica vai desde o hábito dos marinheiros de se reunir pelo boato até a fofoca, semelhante à fofoca do bebedouro.  Marinheiros se reunindo em torno da rixa. ( [fonte]( https://twitter.com/IntEtymology/status/998879578851508224) ) Dominic descobriu o termo boato em um [artigo de pesquisa]( https://www.cs.cornell.edu/home/rvr/papers/flowgossip.pdf) que leu. Em sistemas distribuídos, [fofocar]( https://en.wikipedia.org/wiki/Gossip_protocol) é um processo de retransmissão de mensagens ponto a ponto; as mensagens são disseminadas de forma análoga ao “boca a boca”. **Secure Scuttlebutt é um banco de dados de feeds imutáveis apenas para acréscimos, otimizado para replicação eficiente para protocolos ponto a ponto.** **Cada usuário tem um log imutável somente para acréscimos no qual eles podem gravar.** Eles gravam no log assinando mensagens com sua chave privada. Pense em um feed de usuário como seu próprio diário de bordo, como um diário [de bordo]( https://en.wikipedia.org/wiki/Logbook) (ou diário do capitão para os fãs de Star Trek), onde eles são os únicos autorizados a escrever nele, mas têm a capacidade de permitir que outros amigos ou colegas leiam ao seu diário de bordo, se assim o desejarem. Cada mensagem possui um número de sequência e a mensagem também deve fazer referência à mensagem anterior por seu ID. O ID é um hash da mensagem e da assinatura. A estrutura de dados é semelhante à de uma lista vinculada. É essencialmente um log somente de acréscimo de JSON assinado. **Cada item adicionado a um log do usuário é chamado de mensagem.** **Os logs do usuário são conhecidos como feed e um usuário pode seguir os feeds de outros usuários para receber suas atualizações.** Cada usuário é responsável por armazenar seu próprio feed. Quando Alice assina o feed de Bob, Bob baixa o log de feed de Alice. Bob pode verificar se o registro do feed realmente pertence a Alice verificando as assinaturas. Bob pode verificar as assinaturas usando a chave pública de Alice.  Estrutura de alto nível de um feed **Pubs são servidores de retransmissão conhecidos como “super peers”. Pubs conectam usuários usuários e atualizações de fofocas a outros usuários conectados ao Pub. Um Pub é análogo a um pub da vida real, onde as pessoas vão para se encontrar e se socializar.** Para ingressar em um Pub, o usuário deve ser convidado primeiro. Um usuário pode solicitar um código de convite de um Pub; o Pub simplesmente gerará um novo código de convite, mas alguns Pubs podem exigir verificação adicional na forma de verificação de e-mail ou, com alguns Pubs, você deve pedir um código em um fórum público ou chat. Pubs também podem mapear aliases de usuário, como e-mails ou nome de usuário, para IDs de chave pública para facilitar os pares de referência. Depois que o Pub enviar o código de convite ao usuário, o usuário resgatará o código, o que significa que o Pub seguirá o usuário, o que permite que o usuário veja as mensagens postadas por outros membros do Pub, bem como as mensagens de retransmissão do Pub pelo usuário a outros membros do Pub. Além de retransmitir mensagens entre pares, os Pubs também podem armazenar as mensagens. Se Alice estiver offline e Bob transmitir atualizações de feed, Alice perderá a atualização. Se Alice ficar online, mas Bob estiver offline, não haverá como ela buscar o feed de Bob. Mas com um Pub, Alice pode buscar o feed no Pub mesmo se Bob estiver off-line porque o Pub está armazenando as mensagens. **Pubs são úteis porque assim que um colega fica online, ele pode sincronizar com o Pub para receber os feeds de seus amigos potencialmente offline.** Um usuário pode, opcionalmente, executar seu próprio servidor Pub e abri-lo ao público ou permitir que apenas seus amigos participem, se assim o desejarem. Eles também podem ingressar em um Pub público. Aqui está uma lista de [Pubs públicos em que]( https://github.com/ssbc/ssb-server/wiki/Pub-Servers) todos podem participar **.** Explicaremos como ingressar em um posteriormente neste guia. **Uma coisa importante a observar é que o Secure Scuttlebutt em uma rede social somente para convidados significa que você deve ser “puxado” para entrar nos círculos sociais.** Se você responder às mensagens, os destinatários não serão notificados, a menos que estejam seguindo você de volta. O objetivo do SSB é criar “ilhas” isoladas de redes pares, ao contrário de uma rede pública onde qualquer pessoa pode enviar mensagens a qualquer pessoa.  Perspectivas dos participantes ## Scuttlebot O software Pub é conhecido como servidor Scuttlebutt (servidor [ssb]( https://github.com/ssbc/ssb-server) ), mas também é conhecido como “Scuttlebot” e `sbot`na linha de comando. O servidor SSB adiciona comportamento de rede ao banco de dados Scuttlebutt (SSB). Estaremos usando o Scuttlebot ao longo deste tutorial. **Os logs do usuário são conhecidos como feed e um usuário pode seguir os feeds de outros usuários para receber suas atualizações.** Cada usuário é responsável por armazenar seu próprio feed. Quando Alice assina o feed de Bob, Bob baixa o log de feed de Alice. Bob pode verificar se o registro do feed realmente pertence a Alice verificando as assinaturas. Bob pode verificar as assinaturas usando a chave pública de Alice.  Estrutura de alto nível de um feed **Pubs são servidores de retransmissão conhecidos como “super peers”. Pubs conectam usuários usuários e atualizações de fofocas a outros usuários conectados ao Pub. Um Pub é análogo a um pub da vida real, onde as pessoas vão para se encontrar e se socializar.** Para ingressar em um Pub, o usuário deve ser convidado primeiro. Um usuário pode solicitar um código de convite de um Pub; o Pub simplesmente gerará um novo código de convite, mas alguns Pubs podem exigir verificação adicional na forma de verificação de e-mail ou, com alguns Pubs, você deve pedir um código em um fórum público ou chat. Pubs também podem mapear aliases de usuário, como e-mails ou nome de usuário, para IDs de chave pública para facilitar os pares de referência. Depois que o Pub enviar o código de convite ao usuário, o usuário resgatará o código, o que significa que o Pub seguirá o usuário, o que permite que o usuário veja as mensagens postadas por outros membros do Pub, bem como as mensagens de retransmissão do Pub pelo usuário a outros membros do Pub. Além de retransmitir mensagens entre pares, os Pubs também podem armazenar as mensagens. Se Alice estiver offline e Bob transmitir atualizações de feed, Alice perderá a atualização. Se Alice ficar online, mas Bob estiver offline, não haverá como ela buscar o feed de Bob. Mas com um Pub, Alice pode buscar o feed no Pub mesmo se Bob estiver off-line porque o Pub está armazenando as mensagens. **Pubs são úteis porque assim que um colega fica online, ele pode sincronizar com o Pub para receber os feeds de seus amigos potencialmente offline.** Um usuário pode, opcionalmente, executar seu próprio servidor Pub e abri-lo ao público ou permitir que apenas seus amigos participem, se assim o desejarem. Eles também podem ingressar em um Pub público. Aqui está uma lista de [Pubs públicos em que]( https://github.com/ssbc/ssb-server/wiki/Pub-Servers) todos podem participar **.** Explicaremos como ingressar em um posteriormente neste guia. **Uma coisa importante a observar é que o Secure Scuttlebutt em uma rede social somente para convidados significa que você deve ser “puxado” para entrar nos círculos sociais.** Se você responder às mensagens, os destinatários não serão notificados, a menos que estejam seguindo você de volta. O objetivo do SSB é criar “ilhas” isoladas de redes pares, ao contrário de uma rede pública onde qualquer pessoa pode enviar mensagens a qualquer pessoa.   Perspectivas dos participantes ## Pubs - Hubs ### Pubs públicos | Pub Name | Operator | Invite Code | | ------------------------------------------------------------ | ------------------------------------------------------------ | ------------------------------------------------------------ | | `scuttle.us` | [@Ryan]( https://keybase.io/ryan_singer) | `scuttle.us:8008:@WqcuCOIpLtXFRw/9vOAQJti8avTZ9vxT9rKrPo8qG6o=.ed25519~/ZUi9Chpl0g1kuWSrmehq2EwMQeV0Pd+8xw8XhWuhLE=` | | [pub1.upsocial.com]( https://upsocial.com/) | [@freedomrules]( https://github.com/freedomrules) | `pub1.upsocial.com:8008:@gjlNF5Cyw3OKZxEoEpsVhT5Xv3HZutVfKBppmu42MkI=.ed25519~lMd6f4nnmBZEZSavAl4uahl+feajLUGqu8s2qdoTLi8=` | | [Monero Pub]( https://xmr-pub.net/) | [@Denis]( https://github.com/Orville2112) | `xmr-pub.net:8008:@5hTpvduvbDyMLN2IdzDKa7nx7PSem9co3RsOmZoyyCM=.ed25519~vQU+r2HUd6JxPENSinUWdfqrJLlOqXiCbzHoML9iVN4=` | | [FreeSocial]( https://freesocial.co/) | [@Jarland]( https://github.com/mxroute) | `pub.freesocial.co:8008:@ofYKOy2p9wsaxV73GqgOyh6C6nRGFM5FyciQyxwBd6A=.ed25519~ye9Z808S3KPQsV0MWr1HL0/Sh8boSEwW+ZK+8x85u9w=` | | `ssb.vpn.net.br` | [@coffeverton]( https://about.me/coffeverton) | `ssb.vpn.net.br:8008:@ze8nZPcf4sbdULvknEFOCbVZtdp7VRsB95nhNw6/2YQ=.ed25519~D0blTolH3YoTwSAkY5xhNw8jAOjgoNXL/+8ZClzr0io=` | | [gossip.noisebridge.info]( https://www.noisebridge.net/wiki/Pub) | [Noisebridge Hackerspace]( https://www.noisebridge.net/wiki/Unicorn) [@james.network]( https://james.network/) | `gossip.noisebridge.info:8008:@2NANnQVdsoqk0XPiJG2oMZqaEpTeoGrxOHJkLIqs7eY=.ed25519~JWTC6+rPYPW5b5zCion0gqjcJs35h6JKpUrQoAKWgJ4=` | ### Pubs privados Você precisará entrar em contato com os proprietários desses bares para receber um convite. | Pub Name | Operator | Contact | | --------------------------------------------- | ------------------------------------------------------------ | ----------------------------------------------- | | `many.butt.nz` | [@dinosaur]( https://dinosaur.is/) | [mikey@enspiral.com](mailto:mikey@enspiral.com) | | `one.butt.nz` | [@dinosaur]( https://dinosaur.is/) | [mikey@enspiral.com](mailto:mikey@enspiral.com) | | `ssb.mikey.nz` | [@dinosaur]( https://dinosaur.is/) | [mikey@enspiral.com](mailto:mikey@enspiral.com) | | [ssb.celehner.com]( https://ssb.celehner.com/) | [@cel]( https://github.com/ssbc/ssb-server/wiki/@f/6sQ6d2CMxRUhLpspgGIulDxDCwYD7DzFzPNr7u5AU=.ed25519) | [cel@celehner.com](mailto:cel@celehner.com) | ### Pubs muito grandes  *Aviso: embora tecnicamente funcione usar um convite para esses pubs, você provavelmente se divertirá se o fizer devido ao seu tamanho (muitas coisas para baixar, risco para bots / spammers / idiotas)*  | Pub Name | Operator | Invite Code | | --------------------------------------- | ----------------------------------------------- | ------------------------------------------------------------ | | `scuttlebutt.de` | [SolSoCoG]( https://solsocog.de/impressum) | `scuttlebutt.de:8008:@yeh/GKxlfhlYXSdgU7CRLxm58GC42za3tDuC4NJld/k=.ed25519~iyaCpZ0co863K9aF+b7j8BnnHfwY65dGeX6Dh2nXs3c=` | | `Lohn's Pub` | [@lohn]( https://github.com/lohn) | `p.lohn.in:8018:@LohnKVll9HdLI3AndEc4zwGtfdF/J7xC7PW9B/JpI4U=.ed25519~z3m4ttJdI4InHkCtchxTu26kKqOfKk4woBb1TtPeA/s=` | | [Scuttle Space]( https://scuttle.space/) | [@guil-dot]( https://github.com/guil-dot) | Visit [scuttle.space]( https://scuttle.space/) | | `SSB PeerNet US-East` | [timjrobinson]( https://github.com/timjrobinson) | `us-east.ssbpeer.net:8008:@sTO03jpVivj65BEAJMhlwtHXsWdLd9fLwyKAT1qAkc0=.ed25519~sXFc5taUA7dpGTJITZVDCRy2A9jmkVttsr107+ufInU=` | | Hermies | s | net:hermies.club:8008~shs:uMYDVPuEKftL4SzpRGVyQxLdyPkOiX7njit7+qT/7IQ=:SSB+Room+PSK3TLYC2T86EHQCUHBUHASCASE18JBV24= | ## GUI - Interface Gráfica do Utilizador(Usuário) ### Patchwork - Uma GUI SSB (Descontinuado) [**Patchwork**]( https://github.com/ssbc/patchwork) **é o aplicativo de mensagens e compartilhamento descentralizado construído em cima do SSB** . O protocolo scuttlebutt em si não mantém um conjunto de feeds nos quais um usuário está interessado, então um cliente é necessário para manter uma lista de feeds de pares em que seu respectivo usuário está interessado e seguindo.  Fonte: [scuttlebutt.nz]( https://www.scuttlebutt.nz/getting-started) **Quando você instala e executa o Patchwork, você só pode ver e se comunicar com seus pares em sua rede local. Para acessar fora de sua LAN, você precisa se conectar a um Pub.** Um pub é apenas para convidados e eles retransmitem mensagens entre você e seus pares fora de sua LAN e entre outros Pubs. Lembre-se de que você precisa seguir alguém para receber mensagens dessa pessoa. Isso reduz o envio de mensagens de spam para os usuários. Os usuários só veem as respostas das pessoas que seguem. Os dados são sincronizados no disco para funcionar offline, mas podem ser sincronizados diretamente com os pares na sua LAN por wi-fi ou bluetooth. ### Patchbay - Uma GUI Alternativa Patchbay é um cliente de fofoca projetado para ser fácil de modificar e estender. Ele usa o mesmo banco de dados que [Patchwork]( https://github.com/ssbc/patchwork) e [Patchfoo]( https://github.com/ssbc/patchfoo) , então você pode facilmente dar uma volta com sua identidade existente.  ### Planetary - GUI para IOS  [Planetary]( https://apps.apple.com/us/app/planetary-app/id1481617318) é um app com pubs pré-carregados para facilitar integração. ### Manyverse - GUI para Android  [Manyverse]( https://www.manyver.se/) é um aplicativo de rede social com recursos que você esperaria: posts, curtidas, perfis, mensagens privadas, etc. Mas não está sendo executado na nuvem de propriedade de uma empresa, em vez disso, as postagens de seus amigos e todos os seus dados sociais vivem inteiramente em seu telefone . ## Fontes * https://scuttlebot.io/ * https://decentralized-id.com/decentralized-web/scuttlebot/#plugins * https://medium.com/@miguelmota/getting-started-with-secure-scuttlebut-e6b7d4c5ecfd * [**Secure Scuttlebutt**]( http://ssbc.github.io/secure-scuttlebutt/) **:** um protocolo de banco de dados global.

@ e97aaffa:2ebd765d

Último dia do ano, momento para tirar o pó da bola de cristal, para fazer reflexões, previsões e desejos para o próximo ano e seguintes. Ano após ano, o Bitcoin evoluiu, foi ultrapassando etapas, tornou-se cada vez mais _mainstream_. Está cada vez mais difícil fazer previsões sobre o Bitcoin, já faltam poucas barreiras a serem ultrapassadas e as que faltam são altamente complexas ou tem um impacto profundo no sistema financeiro ou na sociedade. Estas alterações profundas tem que ser realizadas lentamente, porque uma alteração rápida poderia resultar em consequências terríveis, poderia provocar um retrocesso. # Código do Bitcoin No final de 2025, possivelmente vamos ter um _fork_, as discussões sobre os _covenants_ já estão avançadas, vão acelerar ainda mais. Já existe um consenso relativamente alto, a favor dos _covenants_, só falta decidir que modelo será escolhido. Penso que até ao final do ano será tudo decidido. Depois dos _covenants,_ o próximo foco será para a criptografia post-quantum, que será o maior desafio que o Bitcoin enfrenta. Criar uma criptografia segura e que não coloque a descentralização em causa. Espero muito de Ark, possivelmente a inovação do ano, gostaria de ver o Nostr a furar a bolha bitcoinheira e que o Cashu tivesse mais reconhecimento pelos _bitcoiners_. Espero que surjam avanços significativos no BitVM2 e BitVMX. Não sei o que esperar das layer 2 de Bitcoin, foram a maior desilusão de 2024. Surgiram com muita força, mas pouca coisa saiu do papel, foi uma mão cheia de nada. Uma parte dos projetos caiu na tentação da _shitcoinagem_, na criação de tokens, que tem um único objetivo, enriquecer os devs e os VCs. Se querem ser levados a sério, têm que ser sérios. > “À mulher de César não basta ser honesta, deve parecer honesta” Se querem ter o apoio dos _bitcoiners_, sigam o _ethos_ do Bitcoin. Neste ponto a atitude do pessoal da Ark é exemplar, em vez de andar a chorar no Twitter para mudar o código do Bitcoin, eles colocaram as mãos na massa e criaram o protocolo. É claro que agora está meio “coxo”, funciona com uma _multisig_ ou com os _covenants_ na Liquid. Mas eles estão a criar um produto, vão demonstrar ao mercado que o produto é bom e útil. Com a adoção, a comunidade vai perceber que o Ark necessita dos _covenants_ para melhorar a interoperabilidade e a soberania. É este o pensamento certo, que deveria ser seguido pelos restantes e futuros projetos. É seguir aquele pensamento do J.F. Kennedy: > “Não perguntem o que é que o vosso país pode fazer por vocês, perguntem o que é que vocês podem fazer pelo vosso país” Ou seja, não fiquem à espera que o bitcoin mude, criem primeiro as inovações/tecnologia, ganhem adoção e depois demonstrem que a alteração do código camada base pode melhorar ainda mais o vosso projeto. A necessidade é que vai levar a atualização do código. # Reservas Estratégicas de Bitcoin ## Bancos centrais Com a eleição de Trump, emergiu a ideia de uma Reserva Estratégia de Bitcoin, tornou este conceito _mainstream_. Foi um _pivot_, a partir desse momento, foram enumerados os políticos de todo o mundo a falar sobre o assunto. A Senadora Cynthia Lummis foi mais além e propôs um programa para adicionar 200 mil bitcoins à reserva ao ano, até 1 milhão de Bitcoin. Só que isto está a criar uma enorme expectativa na comunidade, só que pode resultar numa enorme desilusão. Porque no primeiro ano, o Trump em vez de comprar os 200 mil, pode apenas adicionar na reserva, os 198 mil que o Estado já tem em sua posse. Se isto acontecer, possivelmente vai resultar numa forte queda a curto prazo. Na minha opinião os bancos centrais deveriam seguir o exemplo de El Salvador, fazer um DCA diário. Mais que comprar bitcoin, para mim, o mais importante é a criação da Reserva, é colocar o Bitcoin ao mesmo nível do ouro, o impacto para o resto do mundo será tremendo, a teoria dos jogos na sua plenitude. Muitos outros bancos centrais vão ter que comprar, para não ficarem atrás, além disso, vai transmitir uma mensagem à generalidade da população, que o Bitcoin é “afinal é algo seguro, com valor”. Mas não foi Trump que iniciou esta teoria dos jogos, mas sim foi a primeira vítima dela. É o próprio Trump que o admite, que os EUA necessitam da reserva para não ficar atrás da China. Além disso, desde que os EUA utilizaram o dólar como uma arma, com sanção contra a Rússia, surgiram boatos de que a Rússia estaria a utilizar o Bitcoin para transações internacionais. Que foram confirmados recentemente, pelo próprio governo russo. Também há poucos dias, ainda antes deste reconhecimento público, Putin elogiou o Bitcoin, ao reconhecer que “Ninguém pode proibir o bitcoin”, defendendo como uma alternativa ao dólar. A narrativa está a mudar. Já existem alguns países com Bitcoin, mas apenas dois o fizeram conscientemente (El Salvador e Butão), os restantes têm devido a apreensões. Hoje são poucos, mas 2025 será o início de uma corrida pelos bancos centrais. Esta corrida era algo previsível, o que eu não esperava é que acontecesse tão rápido.  ## Empresas A criação de reservas estratégicas não vai ficar apenas pelos bancos centrais, também vai acelerar fortemente nas empresas em 2025.  Mas as empresas não vão seguir a estratégia do Saylor, vão comprar bitcoin sem alavancagem, utilizando apenas os tesouros das empresas, como uma proteção contra a inflação. Eu não sou grande admirador do Saylor, prefiro muito mais, uma estratégia conservadora, sem qualquer alavancagem. Penso que as empresas vão seguir a sugestão da BlackRock, que aconselha um alocações de 1% a 3%. Penso que 2025, ainda não será o ano da entrada das 6 magníficas (excepto Tesla), será sobretudo empresas de pequena e média dimensão. As magníficas ainda tem uma cota muito elevada de _shareholders_ com alguma idade, bastante conservadores, que têm dificuldade em compreender o Bitcoin, foi o que aconteceu recentemente com a Microsoft. Também ainda não será em 2025, talvez 2026, a inclusão nativamente de wallet Bitcoin nos sistema da Apple Pay e da Google Pay. Seria um passo gigante para a adoção a nível mundial. # ETFs Os ETFs para mim são uma incógnita, tenho demasiadas dúvidas, como será 2025. Este ano os _inflows_ foram superiores a 500 mil bitcoins, o IBIT foi o lançamento de ETF mais bem sucedido da história. O sucesso dos ETFs, deve-se a 2 situações que nunca mais se vão repetir. O mercado esteve 10 anos à espera pela aprovação dos ETFs, a procura estava reprimida, isso foi bem notório nos primeiros meses, os _inflows_ foram brutais. Também se beneficiou por ser um mercado novo, não existia _orderbook_ de vendas, não existia um mercado interno, praticamente era só _inflows_. Agora o mercado já estabilizou, a maioria das transações já são entre clientes dos próprios ETFs. Agora só uma pequena percentagem do volume das transações diárias vai resultar em _inflows_ ou _outflows_. Estes dois fenómenos nunca mais se vão repetir, eu não acredito que o número de _inflows_ em BTC supere os número de 2024, em dólares vai superar, mas em btc não acredito que vá superar. Mas em 2025 vão surgir uma infindável quantidade de novos produtos, derivativos, novos ETFs de cestos com outras criptos ou cestos com ativos tradicionais. O bitcoin será adicionado em produtos financeiros já existentes no mercado, as pessoas vão passar a deter bitcoin, sem o saberem. Com o fim da operação ChokePoint 2.0, vai surgir uma nova onda de adoção e de produtos financeiros. Possivelmente vamos ver bancos tradicionais a disponibilizar produtos ou serviços de custódia aos seus clientes. Eu adoraria ver o crescimento da adoção do bitcoin como moeda, só que a regulamentação não vai ajudar nesse processo. # Preço Eu acredito que o topo deste ciclo será alcançado no primeiro semestre, posteriormente haverá uma correção. Mas desta vez, eu acredito que a correção será muito menor que as anteriores, inferior a 50%, esta é a minha expectativa. Espero estar certo. # Stablecoins de dólar Agora saindo um pouco do universo do Bitcoin, acho importante destacar as _stablecoins_. No último ciclo, eu tenho dividido o tempo, entre continuar a estudar o Bitcoin e estudar o sistema financeiro, as suas dinâmicas e o comportamento humano. Isto tem sido o meu foco de reflexão, imaginar a transformação que o mundo vai sofrer devido ao padrão Bitcoin. É uma ilusão acreditar que a transição de um padrão FIAT para um padrão Bitcoin vai ser rápida, vai existir um processo transitório que pode demorar décadas. Com a re-entrada de Trump na Casa Branca, prometendo uma política altamente protecionista, vai provocar uma forte valorização do dólar, consequentemente as restantes moedas do mundo vão derreter. Provocando uma inflação generalizada, gerando uma corrida às _stablecoins_ de dólar nos países com moedas mais fracas. Trump vai ter uma política altamente expansionista, vai exportar dólares para todo o mundo, para financiar a sua própria dívida. A desigualdade entre os pobres e ricos irá crescer fortemente, aumentando a possibilidade de conflitos e revoltas. > “Casa onde não há pão, todos ralham e ninguém tem razão” Será mais lenha, para alimentar a fogueira, vai gravar os conflitos geopolíticos já existentes, ficando as sociedade ainda mais polarizadas. Eu acredito que 2025, vai haver um forte crescimento na adoção das _stablecoins_ de dólares, esse forte crescimento vai agravar o problema sistémico que são as _stablecoins_. Vai ser o início do fim das _stablecoins_, pelo menos, como nós conhecemos hoje em dia. ## Problema sistémico O sistema FIAT não nasceu de um dia para outro, foi algo que foi construído organicamente, ou seja, foi evoluindo ao longo dos anos, sempre que havia um problema/crise, eram criadas novas regras ou novas instituições para minimizar os problemas. Nestes quase 100 anos, desde os acordos de Bretton Woods, a evolução foram tantas, tornaram o sistema financeiro altamente complexo, burocrático e nada eficiente. Na prática é um castelo de cartas construído sobre outro castelo de cartas e que por sua vez, foi construído sobre outro castelo de cartas. As _stablecoins_ são um problema sistémico, devido às suas reservas em dólares e o sistema financeiro não está preparado para manter isso seguro. Com o crescimento das reservas ao longo dos anos, foi se agravando o problema. No início a Tether colocava as reservas em bancos comerciais, mas com o crescimento dos dólares sob gestão, criou um problema nos bancos comerciais, devido à reserva fracionária. Essas enormes reservas da Tether estavam a colocar em risco a própria estabilidade dos bancos. A Tether acabou por mudar de estratégia, optou por outros ativos, preferencialmente por títulos do tesouro/obrigações dos EUA. Só que a Tether continua a crescer e não dá sinais de abrandamento, pelo contrário. Até o próprio mundo cripto, menosprezava a gravidade do problema da Tether/_stablecoins_ para o resto do sistema financeiro, porque o _marketcap_ do cripto ainda é muito pequeno. É verdade que ainda é pequeno, mas a Tether não o é, está no top 20 dos maiores detentores de títulos do tesouros dos EUA e está ao nível dos maiores bancos centrais do mundo. Devido ao seu tamanho, está a preocupar os responsáveis/autoridades/reguladores dos EUA, pode colocar em causa a estabilidade do sistema financeiro global, que está assente nessas obrigações. Os títulos do tesouro dos EUA são o colateral mais utilizado no mundo, tanto por bancos centrais, como por empresas, é a charneira da estabilidade do sistema financeiro. Os títulos do tesouro são um assunto muito sensível. Na recente crise no Japão, do _carry trade_, o Banco Central do Japão tentou minimizar a desvalorização do iene através da venda de títulos dos EUA. Esta operação, obrigou a uma viagem de emergência, da Secretaria do Tesouro dos EUA, Janet Yellen ao Japão, onde disponibilizou liquidez para parar a venda de títulos por parte do Banco Central do Japão. Essa forte venda estava desestabilizando o mercado. Os principais detentores de títulos do tesouros são institucionais, bancos centrais, bancos comerciais, fundo de investimento e gestoras, tudo administrado por gestores altamente qualificados, racionais e que conhecem a complexidade do mercado de obrigações. O mundo cripto é seu oposto, é _naife_ com muita irracionalidade e uma forte pitada de loucura, na sua maioria nem faz a mínima ideia como funciona o sistema financeiro. Essa irracionalidade pode levar a uma “corrida bancária”, como aconteceu com o UST da Luna, que em poucas horas colapsou o projeto. Em termos de escala, a Luna ainda era muito pequena, por isso, o problema ficou circunscrito ao mundo cripto e a empresas ligadas diretamente ao cripto. Só que a Tether é muito diferente, caso exista algum FUD, que obrigue a Tether a desfazer-se de vários biliões ou dezenas de biliões de dólares em títulos num curto espaço de tempo, poderia provocar consequências terríveis em todo o sistema financeiro. A Tether é grande demais, é já um problema sistémico, que vai agravar-se com o crescimento em 2025. Não tenham dúvidas, se existir algum problema, o Tesouro dos EUA vai impedir a venda dos títulos que a Tether tem em sua posse, para salvar o sistema financeiro. O problema é, o que vai fazer a Tether, se ficar sem acesso às venda das reservas, como fará o _redeem_ dos dólares? Como o crescimento do Tether é inevitável, o Tesouro e o FED estão com um grande problema em mãos, o que fazer com o Tether? Mas o problema é que o atual sistema financeiro é como um curto cobertor: Quanto tapas a cabeça, destapas os pés; Ou quando tapas os pés, destapas a cabeça. Ou seja, para resolver o problema da guarda reservas da Tether, vai criar novos problemas, em outros locais do sistema financeiro e assim sucessivamente. ### Conta mestre Uma possível solução seria dar uma conta mestre à Tether, dando o acesso direto a uma conta no FED, semelhante à que todos os bancos comerciais têm. Com isto, a Tether deixaria de necessitar os títulos do tesouro, depositando o dinheiro diretamente no banco central. Só que isto iria criar dois novos problemas, com o Custodia Bank e com o restante sistema bancário. O Custodia Bank luta há vários anos contra o FED, nos tribunais pelo direito a ter licença bancária para um banco com _full-reserves_. O FED recusou sempre esse direito, com a justificativa que esse banco, colocaria em risco toda a estabilidade do sistema bancário existente, ou seja, todos os outros bancos poderiam colapsar. Perante a existência em simultâneo de bancos com reserva fracionária e com _full-reserves_, as pessoas e empresas iriam optar pelo mais seguro. Isso iria provocar uma corrida bancária, levando ao colapso de todos os bancos com reserva fracionária, porque no Custodia Bank, os fundos dos clientes estão 100% garantidos, para qualquer valor. Deixaria de ser necessário limites de fundos de Garantia de Depósitos. Eu concordo com o FED nesse ponto, que os bancos com _full-reserves_ são uma ameaça a existência dos restantes bancos. O que eu discordo do FED, é a origem do problema, o problema não está nos bancos _full-reserves_, mas sim nos que têm reserva fracionária. O FED ao conceder uma conta mestre ao Tether, abre um precedente, o Custodia Bank irá o aproveitar, reclamando pela igualdade de direitos nos tribunais e desta vez, possivelmente ganhará a sua licença. Ainda há um segundo problema, com os restantes bancos comerciais. A Tether passaria a ter direitos similares aos bancos comerciais, mas os deveres seriam muito diferentes. Isto levaria os bancos comerciais aos tribunais para exigir igualdade de tratamento, é uma concorrência desleal. Isto é o bom dos tribunais dos EUA, são independentes e funcionam, mesmo contra o estado. Os bancos comerciais têm custos exorbitantes devido às políticas de _compliance_, como o KYC e AML. Como o governo não vai querer aliviar as regras, logo seria a Tether, a ser obrigada a fazer o _compliance_ dos seus clientes. A obrigação do KYC para ter _stablecoins_ iriam provocar um terramoto no mundo cripto. Assim, é pouco provável que seja a solução para a Tether. ### FED Só resta uma hipótese, ser o próprio FED a controlar e a gerir diretamente as _stablecoins_ de dólar, nacionalizado ou absorvendo as existentes. Seria uma espécie de CBDC. Isto iria provocar um novo problema, um problema diplomático, porque as _stablecoins_ estão a colocar em causa a soberania monetária dos outros países. Atualmente as _stablecoins_ estão um pouco protegidas porque vivem num limbo jurídico, mas a partir do momento que estas são controladas pelo governo americano, tudo muda. Os países vão exigir às autoridades americanas medidas que limitem o uso nos seus respectivos países. Não existe uma solução boa, o sistema FIAT é um castelo de cartas, qualquer carta que se mova, vai provocar um desmoronamento noutro local. As autoridades não poderão adiar mais o problema, terão que o resolver de vez, senão, qualquer dia será tarde demais. Se houver algum problema, vão colocar a responsabilidade no cripto e no Bitcoin. Mas a verdade, a culpa é inteiramente dos políticos, da sua incompetência em resolver os problemas a tempo. Será algo para acompanhar futuramente, mas só para 2026, talvez… É curioso, há uns anos pensava-se que o Bitcoin seria a maior ameaça ao sistema ao FIAT, mas afinal, a maior ameaça aos sistema FIAT é o próprio FIAT(_stablecoins_). A ironia do destino. Isto é como uma corrida, o Bitcoin é aquele atleta que corre ao seu ritmo, umas vezes mais rápido, outras vezes mais lento, mas nunca pára. O FIAT é o atleta que dá tudo desde da partida, corre sempre em velocidade máxima. Só que a vida e o sistema financeiro não é uma prova de 100 metros, mas sim uma maratona. # Europa 2025 será um ano desafiante para todos europeus, sobretudo devido à entrada em vigor da regulamentação (MiCA). Vão começar a sentir na pele a regulamentação, vão agravar-se os problemas com os _compliance_, problemas para comprovar a origem de fundos e outras burocracias. Vai ser lindo. O _Travel Route_ passa a ser obrigatório, os europeus serão obrigados a fazer o KYC nas transações. A _Travel Route_ é uma suposta lei para criar mais transparência, mas prática, é uma lei de controle, de monitorização e para limitar as liberdades individuais dos cidadãos. O MiCA também está a colocar problemas nas _stablecoins_ de Euro, a Tether para já preferiu ficar de fora da europa. O mais ridículo é que as novas regras obrigam os emissores a colocar 30% das reservas em bancos comerciais. Os burocratas europeus não compreendem que isto coloca em risco a estabilidade e a solvência dos próprios bancos, ficam propensos a corridas bancárias. O MiCA vai obrigar a todas as exchanges a estar registadas em solo europeu, ficando vulnerável ao temperamento dos burocratas. Ainda não vai ser em 2025, mas a UE vai impor políticas de controle de capitais, é inevitável, as exchanges serão obrigadas a usar em exclusividade _stablecoins_ de euro, as restantes _stablecoins_ serão deslistadas. Todas estas novas regras do MiCA, são extremamente restritas, não é para garantir mais segurança aos cidadãos europeus, mas sim para garantir mais controle sobre a população. A UE está cada vez mais perto da autocracia, do que da democracia. A minha única esperança no horizonte, é que o sucesso das políticas cripto nos EUA, vai obrigar a UE a recuar e a aligeirar as regras, a teoria dos jogos é implacável. Mas esse recuo, nunca acontecerá em 2025, vai ser um longo período conturbado. # Recessão Os mercados estão todos em máximos históricos, isto não é sustentável por muito tempo, suspeito que no final de 2025 vai acontecer alguma correção nos mercados. A queda só não será maior, porque os bancos centrais vão imprimir dinheiro, muito dinheiro, como se não houvesse amanhã. Vão voltar a resolver os problemas com a injeção de liquidez na economia, é empurrar os problemas com a barriga, em de os resolver. Outra vez o efeito Cantillon. Será um ano muito desafiante a nível político, onde o papel dos políticos será fundamental. A crise política na França e na Alemanha, coloca a UE órfã, sem um comandante ao leme do navio. 2025 estará condicionado pelas eleições na Alemanha, sobretudo no resultado do AfD, que podem colocar em causa a propriedade UE e o euro. Possivelmente, só o fim da guerra poderia minimizar a crise, algo que é muito pouco provável acontecer. Em Portugal, a economia parece que está mais ou menos equilibrada, mas começam a aparecer alguns sinais preocupantes. Os jogos de sorte e azar estão em máximos históricos, batendo o recorde de 2014, época da grande crise, não é um bom sinal, possivelmente já existe algum desespero no ar. A Alemanha é o motor da Europa, quanto espirra, Portugal constipa-se. Além do problema da Alemanha, a Espanha também está à beira de uma crise, são os países que mais influenciam a economia portuguesa. Se existir uma recessão mundial, terá um forte impacto no turismo, que é hoje em dia o principal motor de Portugal. # Brasil Brasil é algo para acompanhar em 2025, sobretudo a nível macro e a nível político. Existe uma possibilidade de uma profunda crise no Brasil, sobretudo na sua moeda. O banco central já anda a queimar as reservas para minimizar a desvalorização do Real.  Sem mudanças profundas nas políticas fiscais, as reservas vão se esgotar. As políticas de controle de capitais são um cenário plausível, será interesse de acompanhar, como o governo irá proceder perante a existência do Bitcoin e _stablecoins_. No Brasil existe um forte adoção, será um bom _case study_, certamente irá repetir-se em outros países num futuro próximo. Os próximos tempos não serão fáceis para os brasileiros, especialmente para os que não têm Bitcoin. # Blockchain Em 2025, possivelmente vamos ver os primeiros passos da BlackRock para criar a primeira bolsa de valores, exclusivamente em _blockchain_. Eu acredito que a BlackRock vai criar uma própria _blockchain_, toda controlada por si, onde estarão os RWAs, para fazer concorrência às tradicionais bolsas de valores. Será algo interessante de acompanhar. ----------- Estas são as minhas previsões, eu escrevi isto muito em cima do joelho, certamente esqueci-me de algumas coisas, se for importante acrescentarei nos comentários. A maioria das previsões só acontecerá após 2025, mas fica aqui a minha opinião. Isto é apenas a minha opinião, **Don’t Trust, Verify**!

@ 2063cd79:57bd1320

Obwohl einige andere Themen, wie der kürzlich erschienene New York Times Artikel, in dem sich faktisch falsch und inhaltlich voreingenommen mit Bitcoin-Mining befasst wird, oder die Entdeckung des Satoshi Whitepapers auf Apple Computern momentan die heissen und viel besprochenen Nachrichten sind, hält auch die Diskussion über Ordinals und Inscriptions und besonders deren Auswirkungen auf das Bitcoin-Netzwerk an. Einer der viel besprochenen Aspekte bei diesem Thema ist die Auswirkung dieser Bitcoin-NFTs auf die Gebührenstruktur und somit Gewinnzusammensetzung für Miner, aber auch die direkten Auswirkungen auf On-Chain-Transaktionen durch die höheren Gebühren und den seit Wochen sehr vollen Mempool. Genau über den wollen wir uns diese Woche etwas detaillierter unterhalten, da es auch unter erfahrenen Bitcoinern immer noch einige Missverständnisse zu geben scheint. --- Fangen wir zunächst ganz vorne an. Regelmäßigen Leser//innen dieses Blogs sollte in Erinnerung sein, dass ich Anfang Februar einen Artikel über UTXOs und Gebührenmanagement geschrieben habe: https://www.genexyz.org/post/25-block-774775-utxos-fee-management-v3ulch/ In diesem Artikel habe ich beschrieben wie Transaktionen zusammengesetzt sind und welche Möglichkeiten Nutzer//innen haben, um ihre persönlichen Transaktionen anhand variabler Gebühreneinstellungen schnell oder langsam im Netzwerk zu platzieren. > 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. Der Mempool, kurz für Memory Pool, hat also was mit Transaktionen zu tun - und zwar ganz schön viel. Denn jede im System propagierte Transaktion landet zunächst im Mempool. Also kann man sagen, dass der Mempool sowas wie ein Wartezimmer, oder eine Warteschlange am Supermarkt oder im Vergnügungspark ist. Soll eine Transaktion in einen Block geschrieben werden, so muss sie sich erstmal anstellen. Dabei bleibt festzuhalten, dass Transaktionen erst im Netzwerk propagiert werden, bevor sie in einen Block geschrieben werden können. Wenn man also in seiner Wallet eine Transaktion abschickt und einen grünen Haken oder eine Animation angezeigt bekommt, dass die Transaktion erfolgreich versendet wurde, dann bedeutet dies schlicht nur, dass die Wallet die Nachricht, die diese Transaktion enthält, zunächst an eine Node (einen Knotenpunkt im Netzwerk) übertragen hat. Das dezentrale Peer-to-Peer Bitcoin-Netzwerk erledigt dann den Rest: Die Nodes propagieren diese Nachricht sofort weiter an alle verbundenen Nodes (Flooding genannt), und somit ist die Nachricht innerhalb weniger Sekunden an alle Netzwerkteilnehmer versendet. Dabei werden Transaktionen erstmal auf ihre Richtigkeit überprüft. Dann werden diese erst von den Mining-Nodes aus dem Mempool übernommen, die die Transaktionen sortieren und ihren Blöcken hinzufügen. <img src="https://blossom.primal.net/a033aa3a2954fc5bd7b605abd4474da8f38095c30a86d19cf3b9ca7c84dbef57.gif"> Transaktionen werden also von Wallets als Nachrichten ins Netzwerk gesendet. Ganz einfach gesprochen enthält jede Nachricht Informationen über den Sender, den Empfänger, die Höhe der versendeten Zahlung und die Höhe der angehefteten Gebühr. Diese Informationen müssen also erstmal im Netzwerk untergebracht werden, damit die Mining-Nodes aus diesem Pool von unbestätigten Transaktionen ihre Blöcke zusammensetzen können. Jetzt sitzen also in diesem Wartezimmer ganz viele Transaktionen und warten darauf, aufgerufen zu werden, um von Dr. Miner in seinem Besprechungszimmer empfangen zu werden. Doch anders als beim Arzt, wo man in der Reihenfolge aufgerufen wird, in der man seinen Termin vereinbart hat, oder beim Straßenverkehrsamt, wo die Nummer auf dem kleinen Ticket, das man beim Eintritt gezogen hat, über die Reihenfolge entscheidet, sucht Dr. Miner sich selbst aus, welche Patienten (Transaktionen) er in welcher Reihenfolge sehen möchte. Dr. Miner bittet zum Vorsprechtermin. Und da alle Patienten ein kleines Schildchen hochhalten, auf dem die Gebühr steht, die sie bereit sind zu zahlen, um so schnell wie möglich von Dr. Miner empfangen zu werden, kann dieser ganz einfach diejenigen bevorzugen, die am meisten zahlen (würde so im normalen Leben ja keineswegs ablaufen - hrr hrr, Kassenpatienten!). <img src="https://blossom.primal.net/397f104807a3cfc2f56d8254023290a33caab6bbcde966299bfe920e1f94caa2.gif"> Damit möchte ich nicht sagen, dass bei Bitcoin ein Zwei- oder Mehrklassensystem besteht, wie das im deutschen Gesundheitssystem der Fall ist, allerdings gibt es Einzelnen die Freiheit darüber zu entscheiden, wie wichtig ihnen einzelne Transaktionen sind und wie viel sie bereit sind, dafür zu bezahlen (ähem, freie Marktwirtschaft, hust!) Diese variable Gebührenstruktur ist also ganz eng mit dem Anreizsystem von Bitcoin verbunden. Gebühren werden in sats/B oder sats/vB (Satoshis pro (virtual) Byte) berechnet, also wie viele Sats man pro Byte entrichten muss. Damit werden Transaktionen mit mehr Blockgewicht automatisch teurer (hallo Ordinals 👋), was eigentlich sehr fair ist, aber die variable Gebühreneinstellung in den meisten Wallets erlaubt Versendenden ihre Transaktion auch anderen Transaktionen gegenüber zu priorisieren, wenn diese es für notwendig halten. <img src="https://blossom.primal.net/9ddcadd77ef6cb23da46347f3c5e7741e4838e67de94c70e9a098b86b54257d3.gif"> Eine oft falsche Annahme ist, dass es irgendwie den einen Mempool gibt. Das ist natürlich falsch und aufgrund der dezentralen Struktur des Netzwerks auch gar nicht möglich. Vielmehr verfügt jede Node über ihren eigenen Mempool (mit seinen eigenen Einstellungen). Dieses Missverständnis rührt wahrscheinlich daher, dass immer von DEM Mempool gesprochen wird und Block-Explorer, wie mempool.space, durch ihre Übersicht suggerieren, dass diese Informationen aus DEM Mempool entstammen. Dabei sind Explorer oft nur die Visualisierung einer einzelnen Node, oder aggregieren verschiedene Informationen, um einen möglichst akkuraten Gesamteindruck darzustellen. --- **☝️ Kurz zusammengefasst: Ein Mempool ist die Warteschlange ausstehender und unbestätigter Transaktionen für eine Node. Es gibt keinen zentralen oder globalen Mempool. Jede Node verwaltet ihren eigenen Mempool, sodass verschiedene Nodes theoretisch unterschiedliche Transaktionen in ihren Mempools sammeln können. Transaktionen wiederum enthalten Gebühreninformationen, die für die Mining-Nodes wichtig sind, um diese zu priorisieren.** --- <img src="https://blossom.primal.net/8eb2425e7abff2ad65d1bfbc62ffdcf6dd84d74779de6b3843e918261bb950bf.png"> Wenn man sich das obige Bild einmal anschaut, versteht man auch, was es mit den Gebühren auf sich hat. Am einfachsten ist es sich vorzustellen, es gäbe eine Autobahn, auf der ein Algorithmus entscheidet, wie schnell alle Autos fahren. Um überhaupt auf diese Autobahn auffahren zu dürfen, muss man 1,98 sat/vB zahlen, sonst wird man gar nicht drauf gelassen. Diejenigen Transaktionen, die 4 sat/vB zahlen, dürfen zwar auf die Autobahn, stehen aber momentan auf dem Standstreifen und kommen nicht vorwärts. Wer mind. 5 sat/vB zahlt, fährt automatisch auf der rechten Spur, alle die mind. 7 sat/vB zahlen, fahren in der Mitte, und wer mind. 10 sat/vB ausgeben möchte, darf rechts am schnellsten fahren. Oder um eine andere Analogie zu bemühen, schauen wir uns eine Warteschlange im Vergnügungspark an. Allerdings gibt es nicht nur eine lange Schlange, sondern verschiedene Schlangen für dieselbe Achterbahn mit unterschiedlich langen Wartezeiten. Jedoch muss man mehr Fahrpreis bezahlen, wenn man in die Schlange mit der kürzeren Wartezeit möchte (würde so im normalen Leben ja keineswegs ablaufen - hrr hrr, Genie-Pass im Disney World). Alle 10 Minuten fährt die Achterbahn eine Runde und nimmt immer nur eine gewisse Anzahl von Parkbesuchern mit, bis das Gewichtslimit der Bahn erreicht ist - nur das Gewicht der Fahrgäste ist entscheidend, nicht die Menge. <img src="https://blossom.primal.net/836fa5f1c85a7187057f8807cb56e903fe42b054a1a4fb0d5f87dce846e6ff64.gif"> Es gibt einige Fahrgäste, denen es wert ist, auf jeden Fall in der nächsten Bahn zu sitzen, koste es was es wolle. Dann wiederum gibt es welche, die schauen, wie viele Fahrgäste schon in den jeweiligen Reihen stehen und sich ausrechnen, wie viel sie bezahlen müssten, um eine fast 100%ige Chance zu erhalten, in der nächsten Bahn zu sitzen, ohne unnötig draufzuzahlen. Dann gibt es diejenigen, denen es egal ist, denn sie wissen, dass sie auf jeden Fall irgendwann mitfahren, aber auf Schnelligkeit keinen Wert legen. Diese unterschiedlichen Warteschlangen lassen sich im folgenden Bild gut an den Kohorten der linken Spalte ablesen. Dort werden die jeweiligen Gebührenbereiche in sats/vB dargestellt und naturgemäß sind die unteren Bereiche mehr gefüllt, als die oberen. <img src="https://blossom.primal.net/e2ec192dfe4b2fb26d85fc09a99901ec2d6dfa94e1b8daf3f9f3169a3d8248f9.png"> Die Einordnung der Gebühren, das Analysieren der jeweiligen Bänder und das Errechnen der Mindestgebühren, etc. übernimmt natürlich nicht der Sender jedes Mal manuell. Wallets nutzen Algorithmen, um genau diese Informationen aus dem Netzwerk auszuwerten und um dann dem/der Nutzer//in die Gebühren schon einzustellen. Sollte es jedoch trotzdem vorkommen, dass die Gebühren zu niedrig eingestellt wurden und somit Transaktionen im Mempool stecken bleiben (sprich: Die Gebühren sind zu gering, um von Mining-Nodes als interessant genug erachtet zu werden und die Transaktion wird deshalb Block nach Block umgangen), gibt es die Möglichkeit Transaktionen zu pushen. https://www.genexyz.org/post/19-block-765505-on-chain-analytics-mhcumo/ Wie wir in meinem Artikel vom Dezember letztes Jahres gesehen haben, wurde mit Version 0.24 des Bitcoin Core Protokolls eine Änderung in der Core Implementierung vorgenommen: > Und zwar wird der Default von Opt-in auf Full replace-by-fee (RBF) geändert. RBF ist eine Mempool-Funktion, die 2015 vorgeschlagen wurde und ins Protokoll übernommen wurde, die Nutzer//innen eine Möglichkeit gibt feststeckende Transaktionen voranzutreiben, wenn diese lange Zeit unbestätigt im Mempool hängen. Wenn Nutzer//innen diese jetzt beschleunigen wollen, können sie eine höhere Gebühr zahlen, um die eigene Transaktion attraktiver zu machen. In der 2016 eingeführten Opt-in RBF Funktion, müssen Nutzer//innen aktiv einwilligen, dass ihre Transaktionen durch Transaktionen mit höheren Gebühren ersetzt werden, wohingegen die neue Full RBF Funktion standardmäßig jede Transaktion ersetzbar macht, solange für die Ersetzung eine höhere Gebühr gezahlt wird. --- **☝️ Kurz zusammengefasst: Der Mempool funktioniert als Sammelbecken für alle dem Netzwerk übertragenen Transaktionen, die dann von den Minern sukzessive in einen Block gepackt werden. Dies erfolgt in der Regel nach Höhe der Gebühren, d.h. Transaktionen, die eine höhere Gebühr mit sich führen, werden von Minern präferiert, da dies deren Profit steigert. Wurde eine Transaktion mit geringer Gebühr übertragen, oder treten aus verschiedenen Gründen hohe Gebührenspitzen auf, können die unpräferablen Transaktionen im Mempool hängen bleiben.** --- Wie wir jetzt wissen, verwaltet jede Node ihren separaten, individuellen Mempool. Die Einstellungen können die Betreiber der Nodes selbst vornehmen, denn während die Standardgröße auf eine Memory-Grenze von 300 MB festgelegt ist, kann jeder Knotenbetreiber seinen eigenen Wert festlegen. Die Mempool-Größenbeschränkung bezieht sich jedoch nicht auf die serialisierten Daten oder das Transaktionsgewicht der Transaktionen in der Warteschlange, sondern auf die tatsächliche Speichernutzung der deserialisierten Transaktionsdaten auf der jeweiligen Node. Wenn die Mempool-Grenze einer Node erreicht ist, werden die Transaktionen mit der niedrigsten Gebühr gelöscht und die Node gibt dem Netzwerk bekannt, dass vorerst keine Transaktionen unter einer gewissen Gebühr weitergeleitet werden sollen. Da jede Node unterschiedliche Grenzen hat, kann es sein, dass eine Node mit einem kleineren oder größeren Mempool Transaktionen früher oder später löscht. Nachdem der Rückstand unter die (meistens) 300 MB-Grenze gesunken ist, senken Nodes ihre Gebührenmindestanforderung und beginnen wieder damit, Transaktionen zu akzeptieren, die zuvor ausgeschlossen wurden. Jetzt ist es auch über drei Monate her, dass das Ordinals / Inscriptions Protokoll veröffentlicht wurde und nach einem anfangs relativ langsamen Start (trotz heftiger Diskussionen, vieler Publikationen zu dem Thema, etc.) wurden in dieser Zeit mittlerweile mehr als 1 Millionen Artefakte hochgeladen. <img src="https://blossom.primal.net/455aca1f24b6c283e7296b8e3207fd6066407ce7fbee865ac20ba806bc281612.png"> <img src="https://blossom.primal.net/d537ac656ec1a1a3518af5ddd1528d621f229016dc51f27c21f1130975767131.png"> Das Hochladen so vieler (meistens) Bilder direkt in die Bitcoin-Blockchain ist mit recht hoher Sicherheit der Treiber dafür, dass der Mempool seit einiger Zeit komplett ausgelastet ist (also die 300 MB-Grenze übersteigt) und, wie oben gesehen, zum Zeitpunkt des Verfassens, ca. 17.000 Transaktionen darauf warten, in einen Block geschrieben zu werden. Dies entspricht etwa 90 Blöcken, die das Netzwerk produzieren könnte, ohne dass eine einzige weitere Transaktion hinzu kommt. Die große Menge an hochgeladenen Daten hat auch dazu geführt, dass Gebühren zeitweise in den Bereich von 20-40 sat/vByte gehoben wurden. <img src="https://blossom.primal.net/34f65f790f87b2d3872bb44ce30e69fbbe8a15e747cc763e7574fe874c39dee6.png"> Vor SegWit (Segregated Witness) wurden Gebühren nach Transaktionsgröße bestimmt. SegWit führte das Konzept des Blockgewichts ein und änderte die zu erhebenden Gebühren nach Gewichtseinheit anstelle der Transaktionsgröße. Diese Änderung wurde eingeführt, um die Transaktionsgebühren insgesamt zu senken, jedoch kommt es dennoch vor, dass Blöcke erstellt werden, die überwiegend aus Inscriptions bestehen. <img src="https://blossom.primal.net/321075ce9eaabb079c318941e238983b4f6633f7d473ce611e5d3b4d378ef463.png"> SegWit war ironischerweise auch der Soft Fork, der es erst ermöglichte, dass Inscriptions in der heutigen Form hochgeladen werden können. Mehr dazu hier: https://www.genexyz.org/post/26-block-775770-ordinals-inscriptions-36zg3n/ Um das Ordinals / Inscriptions Thema abzuschließen, bleibt bei aller Kritik auf der einen Seite und einem neuen Geschäftsmodell / einer neuen Einnahmequelle für Miner auf der anderen Seite, zu sagen, dass der Anteil an Transaktionsgebühren, die auf Ordinals / Inscriptions zurückzuführen sind, doch recht überschaubar ist. <img src="https://blossom.primal.net/933423b627923996b898bbc3a4d063c1d5a76b754004c32ab0978e585a867a9a.png"> Es bleibt festzuhalten, dass der Mempool einen sehr wichtigen Teil des Bitcoin-Netzwerks darstellt. Er ermöglicht uns zu verstehen, wie ge- oder überfüllt das Netzwerk ist und ob es Transaktionsstaus gibt, die zu langsameren Bestätigungszeiten und höheren Gebühren führen. Er hilft fortgeschrittenen Nutzer//innen zu verstehen, wie sie ihre Gebühren am besten einstellen, aber bietet auch einen Überblick über den gesamten Zustand des Netzwerks. Will man sich einen Gesamteindruck über Bitcoin - das Netzwerk - machen, schaut man sich nicht den aktuellen Tageskurs an, sondern vielmehr den Mempool und die Hashrate. Diese zwei Quellen bieten eine Menge Auskunft darüber, was gerade im Netzwerk passiert und vielleicht passieren wird. <img src="https://blossom.primal.net/2ee1e105ffef4ff7243f6fd21000e5e356cb0f58d091275b01d52718f7d0d17d.png"> Los Miner, ihr habt zu viele ungelesene Transaktions-Nachrichten in eurem Mempool-Postfach! 🫳🎤 --- In diesem Sinne, 2... 1... Risiko!‌ 

@ 2063cd79:57bd1320

Angesichts der jüngsten Aufmerksamkeit in den sozialen Medien, die durch Greenpeace und die von Shitcoin finanzierte Änderung der Code-Bewegung geschaffen wurde, ist es wichtig zu betonen, warum Proof of Work (PoW) ein Feature und kein Bug ist und warum der Aufwand an Energie und damit Strom und damit der Verbrauch von idealerweise dichten Energiequellen, die zur Herstellung von Bitcoin verwendet werden, ein wesentlicher Bestandteil der DNA von Bitcoin darstellen. Die von Greenpeace befürwortete Alternative, Proof of Stake (PoS), die nicht so viel physische Energie verbraucht, aber auch nicht den Funktionsumfang von Proof of Work mit sich bringt, ist in sich fehlerhaft, denn PoS schafft es nicht, die digitale Währung - die die meisten alternativen CrYpTo Currencies sein wollen - und eben nicht “World Computer” oder “Smart Contract Application” - in der realen Welt zu verankern. <img src="https://blossom.primal.net/b67ed1ca1f6d92a02fd6633c2db0d5b1fdbf69f8920e851c9188f402a8edd48b.png"> --- Die Geschichte von Geld ist fast so lang wie die der Menschheit als solche. Wie schon oft und besonders in letzter Zeit besprochen, hat sich unser Geld und der Umgang mit diesem mit der Entwicklung des modernen Menschen weiterentwickelt. Neue Technologien haben dazu geführt, dass auch unser Geld weiterentwickelt wurde und sich den aktuellen Gegebenheiten angepasst hat. Das jeweilig in seiner Zeit vorhandene Geld war immer das Beste, was der technologische Fortschritt und die äußeren Faktoren hervorbringen konnten. Heute leben wir in einer stark digitalisierten Welt und in diesem digitalen Raum bedarf es eines Geldes, das diese Anforderungen erfüllt. Natürlich gibt es immer Mittel und Wege, das aktuell beste Geld mit Hilfsmitteln so anzupassen, dass es den neuen Herausforderungen eine gewisse Zeit standhält, aber das ist immer nur eine Notlösung zur Überbrückung der Zeit, bis die nächste Innovation Einzug erhält. Das haben wir z.B. mit Gold und der Einführung von Papiergeld gesehen. https://www.genexyz.org/post/11-block-752065-fractional-reserve-banking-wird-durch-bitcoin-obsolet-bdpznh/ Eine lange Zeit war Gold DAS beste Geld. Doch mit der Weiterentwicklung von anderen Technologien, die z.B. das Reisen über weite Strecken und damit den Handel zwischen Ländern und Kontinenten möglich machten, aber auch der Weiterentwicklung der Finanzsysteme und der damit einhergehenden Globalisierung, wurde Gold als Zahlungsmittel schnell unpraktisch und durch Papiergeld erweitert. Was zunächst nur eine bessere und neuere Art der Handhabung von Gold war, also die Möglichkeit den Besitz von Gold zu belegen und damit die Notwendigkeit schwere Barren oder Münzen von A nach B zu bewegen, abgelöst hat, wurde schnell zum neuen Geld. Papiergeld (und damit auch Notenbankgeld und Geschäftsbankbuchungen) ist spätestens seit 1971 das neue, am weitesten verbreitete Geld. https://wtfhappenedin1971.com/ Doch durch die nächste Stufe in unserer Entwicklung, der Erfindung des Internets und des World Wide Webs, musste auch dieses Geld den Umständen angepasst werden. Papiergeld, bzw. Fiat-Geld ist allerdings nicht für das digitale Zeitalter gemacht, weshalb wir uns heutzutage mit weiteren Substituten wie PayPal, Venmo, Kwitt (haha), Zelle, usw. versuchen auszuhelfen. Was ich damit sagen will, ist, dass Geld eine Lebensdauer hat, und Fiat-Geld in seiner aktuellen Form nur noch effizient genutzt werden kann, da es Produkte gibt, die es ermöglichen eine Brücke zwischen der Geld-Technologie und den äußeren Umständen, also der immer weiter voranschreitenden Verschiebung unseres Lebens in den digitalen Raum zu schlagen. Wo Papiergeld damals Gold als das am häufigsten genutzte Zahlungsmittel abgelöst hat, können Dienste wie PayPal allerdings nicht zum neuen Geld werden. Dies wird durch die Aufsichtsbehörden, Staaten und internationalen Institutionen verhindert, denn die monetäre Autorität, das Recht Geld auszugeben - zu prägen - (und auszugeben!), ist in allen Staaten dieser Welt einzig und allein dem Staat vorbehalten (also nur eigentlich, aber dazu mehr ein anderes Mal). https://x.com/Culture_Crit/status/1638293934735601666 Diese Digitalisierung des Werts von Geld ist gerade heute die Achillesferse von Gold. Gold ist (neben Bitcoin) die beste Möglichkeit, Besitz zu sichern und zu sparen. Es ist als Zahlungsmittel jedoch unbrauchbar. Fiat-Geld hingegen lässt sich bislang einigermaßen in den digitalen Raum überbrücken, aber Gold, der einzige bislang harte Wert, ist ein physischer Wert, was bedeutet, dass man es in der realen Welt schützen muss. Dies geschieht mit Hilfe von Tresoren oder Anbietern, die die Verwahrung übernehmen, was zur Zentralisierung des Eigentums und zu Vertrauensabhängigkeit führt, oder, wie oben beschrieben, zur Nutzung von Schuldscheinen. Da der einzige Grund sein Vermögen in Gold aufzubewahren darin besteht, solche Abhängigkeiten von Dritten zu vermeiden, führen Schuldscheine die Verwahridee ad absurdum, denn Schuldscheine sind nichts anderes, als Banknoten, die über kurz oder lang von ihrem zugrunde liegenden Wert entkoppelt werden. Dies ist bei Papiergeld der Fall, welches nicht durch den zugrunde liegenden Wert gedeckt wird. Ist man jedoch in der Lage den zugrunde liegenden Wert zu entmaterialisieren, kann man diesen viel einfacher speichern, indem man Kryptographie verwendet, um diesen mit dem Internet zu verbinden, in dem weltweit die meisten Handelsgeschäfte und Transaktionen abgewickelt werden. Die Entmaterialisierung eines Werts birgt auch den Vorteil, dass dieser Wert in unendlich kleine Teile gestückelt werden kann. So ist es z.B. unmöglich einen Bruchteil des Wertes von Gold zu verleihen oder auszugeben, ohne es entweder in kleine Stücke zu zerlegen oder ein Derivat zu erstellen, das wiederum nur ein Proxy vom eigentlichen Gold darstellt. Daher bringt ein entmaterialisierter Wert eines Guts viele Vorteile mit sich, die der einzige andere harte Wert, Gold, nicht bieten kann. Deshalb ist ein Gut, dass digital in einer entmaterialiserten Form existiert besser als ein physisches Gut. Dies kann man auch sehen, wenn man diesen Gedanken auf alte Geldarten zurückführt, denn es zeigt, dass diese damals verwendeten Gelder einen gewissen Wert hatten und als Ware marktwirtschaftlichen, oder sogar fast schon darwinistischen, Kräften eines Kampfes zwischen den jeweiligen Eigenschaften dieser Geldformen ausgeliefert waren. Muscheln wurden von Glasperlen abgelöst, Glasperlen von Silber, Silber von Gold. Gold war das wertvollste bekannte Gut, da Gold in der physischen Welt am schwierigsten herzustellen ist, oder war. <img src="https://blossom.primal.net/bed0f35c1c7102fc6b92bad19b64f3a73ac44d9e1a0fa7c251f8e34a8c37f85a.gif"> Denn in dieser evolutionistischen Kette löst Bitcoin Gold ab. Denn Bitcoin muss, obwohl es digital ist und damit in der heutigen Zeit des Internets perfekt funktioniert, in der physischen Welt beschafft oder produziert werden. Und das ist genau der Wert, den Proof of Work schafft. Bevor Bitcoin in der digitalen Welt existieren kann, muss es in der physischen Welt hergestellt werden. Und zwar unter sehr realen und physisch existierenden Umständen und Einschränkungen. Es muss Energie aufgebracht werden, um den Stromverbrauch von Mining-Rigs zu sättigen. Damit hat Bitcoin einen Weg gefunden, Werte in der realen, greifbaren Welt mit denen der digitalen, entmaterialiserten Welt zu verbinden und genau diesen Wert in den digitalen Bereich zu übertragen. Der Mining-Prozess von Bitcoin transformiert also reale, physische Energie in ein digitales Gut, ohne dabei den Wert zu mindern, wenn überhaupt, wird der Wert dabei gesteigert. Denn die Transformation verankert nicht nur die aufgebrachte physische Energie in der realen Welt und wandelt diese in einen digitalen Wert um, sie steigert deren Wert sogar, indem sie ein Gut schafft, das weitere Eigenschaften in sich vereint, die in der realen Welt nicht existieren. Damit geht der Wert der verbrauchten Energie nicht verloren (wie gerne von Kritikern behauptet wird), sondern in diesem Prozess entsteht ein Gut, das größer ist als die Summe seiner Teile. Diese Eigenschaft von Bitcoin, und Proof of Work im Speziellen, wird oft nicht erkannt, bzw. braucht einige Zeit, um verstanden zu werden. Es ist leicht nur auf den Energieverbrauch von Bitcoin in der physischen Welt zu zeigen, ohne die andere Seite der Gleichung in Betracht zu ziehen. Die zuvor genannten Medienkampagnen von Greenpeace, aber auch der EU, der EZB, des Weißen Hauses in den USA, usw. beschränken sich allerdings genau auf diese vereinfachte Anschauung der Tatsachen (oder vielmehr Narrative). Dieses Phänomen ist nicht neu. Ähnlich wird auch beispielsweise bei der Betrachtung von Antriebsarten von PKW vorgegangen. Elektrische Motoren werden mit Verbrennermotoren verglichen, indem man den Benzinverbrauch und den Benzinpreis einfach mit dem Stromverbrauch und Strompreis vergleicht. Der daraus entstehende Schluss, dass Elektroantriebe günstiger sind, hinkt natürlich vorne und hinten, da nicht alle Bestandteile der Gleichung in Betracht gezogen werden. Das Verankern eines digitalen Werts in der physischen Wert ist allerdings nicht alleinig die Erfindung Satoshi Nakamotos und Bitcoin, sondern eine Verkettung von vielen Ideen und Konzepten zu einem einzigartigen und bislang nie dagewesenen neuen und bahnbrechenden technologischen Fortschritt. <img src="https://blossom.primal.net/c22c066a5984d4034eea60b0fd7be5ad86ddd6b40d4984c8394e998cc2628140.png"> Doch die Entmaterialisierung von Bitcoin hat nicht nur den einzigartigen Effekt, dass es einen Wert der digitalen Welt in der physischen Welt verankert, sie liefert auch den entscheidenden Vorteil von Bitcoin gegenüber Gold. Denn die Entmaterialisierung macht Bitcoin deutlich teilbarer als Gold, da Bits und Bytes in der Theorie in unendlich keine Teile gebrochen werden können, sie macht es deutlich transportables als Gold, denn eine Transaktion in egal welcher Höhe kann in sekundenschnelle propagiert werden und sie macht es vor allem deutlich sicherungsfähiger und damit Bitcoins Wert stabiler (nicht in Fiat-Terms, sondern absolut betrachtet), als den von Gold. Dies kann man schön in einem von [Michael Saylor verwendeten Gedankenexperiment](https://whatismoneypodcast.com/episodes/the-saylor-series-episode-4-bitcoin-the-first-digital-monetary-energy-network) darstellen. Man stelle sich dazu vor, es ist 1900 und man möchte eine Milliarde US Dollar in Gold verwahren und zwar so, dass man über diese Menge Gold im Jahre 2000 noch verfügt. (Die Veränderung des Goldpreises in Fiat-Terms über den Zeitraum lassen wir dabei außen vor, wir können sogar annehmen, dass 1 Milliarde Gold im Jahre 1900 im Jahre 2000 den exakt gleichen Wert hat). Hätte man im zwanzigsten Jahrhundert sein Gold z.B. bei Banken in Ländern wie Deutschland, Polen, Russland, China, Japan, Frankreich, oder Ländern der Kontinente Afrikas und Latein Amerikas in Verwahrung gegeben, ist davon auszugehen, dass durch Weltkriege und/oder Bürgerkriege, dieses Gold geraubt, verstaatlicht oder beschlagnahmt worden wäre. Selbst in den USA, Gewinner vieler dieser Kriege und territorial unbeschadet über diese 100 Jahre, gab es in 1933 die Executive Order 6102, die es Bürgern verbot Gold zu besitzen und diese zwang es unter Marktwert an die Regierung zu verkaufen. Einzig in einer Handvoll von Ländern wäre es möglich gewesen, das Gold unbewegt und sicher einzulagern. Also wie hoch ist die Wahrscheinlichkeit, dass man diesen Treffer gelandet hätte? Selbst dort, wo man es unbewegt, also passiv einlagern hätte können, wären über 100 Jahre immense Verwahrgebühren fällig geworden, die den Wert der 1 Milliarde in Gold gesenkt hätten. Realistischer wäre sogar anzunehmen, dass man die Verwahrung des Goldes aktiv hätte überwachen müssen, also von Bank zu Bank, Land zu Land, oder sogar Kontinent zu Kontinent zu verschieben, um externen, (ge-)politischen und anderen Risiken entgegenzuwirken. Dies wäre mit einem weiteren hohen Kostenaufwand verbunden, der den Wert des eingelagerten 1 Milliarden Goldbestands noch weiter geschmälert hätte. Dieses Problem der Sicherung von Werten, insbesondere bei Gold, macht es als Wertspeicher relativ teuer. Bitcoin hat dieses Problem nicht, denn solange rückwärtskompatible Hardware existiert, muss man seinen Bitcoinbestand nur einmal vernünftig und sicher ablegen, um jederzeit und überall auf der Welt darauf zugreifen zu können. Dies soll zeigen, dass PoW nicht nur eine sehr raffinierte Art und Weise darstellt Bitcoin in einem Anreizprozess herzustellen, sondern, dass PoW dabei hilft, den digitalen Wert Bitcoin in der physischen Welt zu verankern, und dabei zeitgleich Eigenschaften erzeugt, die andere Werte nicht besitzen. Das Verankern, bzw. die Verbindung von physischer und digitaler Welt durch die Transformation von Energie in eine höherwertige Form von Energie ist ein bahnbrechender technologischer Fortschritt, der selbst bei vielen Bitcoinern nicht hoch genug gewertet wird. 🫳🎤 --- In diesem Sinne, 2... 1... Risiko!‌ 

@ 2063cd79:57bd1320

### Bitcoin ist Zeit und Zeit ist Geld In einem der vorigen Artikel haben wir uns mit den Funktionen und Eigenschaften von Geld befasst. Eine, vielleicht sogar die wichtigste, Funktion von wertvollem und hartem Geld ist Knappheit. Wir haben gesehen, dass Bitcoin die einzige Form von Geld ist, die diese Charakteristik zu 100% erfüllt. > Knappheit bedeutet, dass das Gut, das als Geld benutzt wird, begrenzt ist und nicht ohne weiteres vermehrt werden kann. Bitcoin erfüllt diesen Anspruch, denn > Bitcoin ist auf 21.000.000 begrenzt. Die harte Obergrenze von Bitcoin ist von zentraler Bedeutung für sein Wertversprechen. Alle 2.099.999.997.690.000 Sats werden irgendwann existieren (oder existieren schon - je nach Betrachtungsweise) und darüber hinaus werden keine weiteren Sats produziert. Die einzige andere Ressource, die wir Menschen haben, die uns jedem zur Verfügung steht und zu 100% begrenzt ist, ist unsere Zeit. Ausnahmslos jeder Mensch hat ab dem Moment seiner Geburt ein Zeitfenster in diesem Leben und dieses Zeitfenster - dieses Leben - ist begrenzt. Es hat noch niemand geschafft diese Regel zu brechen, bzw. zu cheaten. <img src="https://blossom.primal.net/ea455f3e4de7ea0af74d8521dbee44d0a2cde450e65cc9b1d39cccdcc64d1c5b.gif"> Die Lebensdauer jedes Menschen fällt unterschiedlich aus und ist sogar recht ungerecht verteilt. Es gibt Menschen, die schon sehr, sehr früh nach ihrer Geburt sterben, und es gibt Menschen, die sehr, sehr alt werden. Auf diesem Spektrum von 0 bis ca. 120 Jahren befinden wir Menschen uns alle. Wir können aktiv Einfluss auf unsere Lebenserwartung nehmen, sowohl verlängernde als auch verkürzende Maßnahmen ergreifen, doch eins bleibt bisher immer garantiert: Unsere Zeit ist endlich. Und damit ist sie unser knappstes Gut. Kommen wir nun zurück zum Geld. Wie wir schon gesehen haben, muss Geld drei Funktionen erfüllen: > Es muss als Tausch- oder Zahlungsmittel funktionieren, es sollte ein Wertaufbewahrungsmittel sein und als Recheneinheit dienen. Während man schnell dazu übergeht, bei Geld an die Funktionen von Zahlungsmittel und Recheneinheit zu denken, da diese im täglichen Leben tausendfach vorkommen, ist es besonders die Funktion des Wertaufbewahrungsmittels, die Geld einen besonderen Stellenwert in unserem Leben als Ganzes verleiht. Und da ist sie, die Überschneidung von Geld und unserem Leben, also unserer begrenzten Zeit, auf die ich seit 400 Wörtern hinarbeite 😰 Zeit ist Geld. Jeder kennt diese Redewendung. Im wahrsten Sinne des Wortes bedeutet sie, dass man Zeit in Geld verwandeln kann und dass diejenigen, die Zeit haben auch Geld haben. Man spricht hier irrtümlicherweise auch von "Zeit sparen". Als ob die Möglichkeit bestehe, nicht verbrauchte Zeit zu einem späteren Zeitpunkt abzurufen. Dass dies außerhalb von Momos Welt nicht möglich ist, sollte jedem bewusst sein. Was meint man also damit, wenn man sagt man spart Zeit, oder Zeit ist Geld? Die Funktion des Wertaufbewahrungsmittels von Geld bedeutet erstmal, dass das verwendete Geld seinen Wert durch die Zeit aufrecht erhalten kann. Im allerbesten Falle ist ein Geld von heute auch morgen immer noch ein Geld wert. <img src="https://blossom.primal.net/4d054449c77dd6377226faec2bfdf6092ce3fe4d128be23968f7520d01349deb.gif"> Betrachten wir nun unser eigenes, hart begrenztes Zeitfenster, also jenes, das uns gegeben wurde, um auf diesem blauen, lustigen Ball zu verweilen, so wollen wir diese Zeit möglichst würdevoll und möglichst angenehm verbringen. Da das Leben allerdings Geld kostet, sind wir in der Regel gezwungen, solches zu verdienen. Es soll ein paar glückliche Menschen geben, denen dieser Ballast von Geburt an genommen wird, allerdings verhält es sich für das Gros der Menschen so, dass sie für ihren Unterhalt puckeln müssen. Im Idealfall sieht das so aus, dass man bei einem erwartbaren Durchschnittsalter von 80 Jahren, die ersten 20 Jahre damit verbringt zu erlernen, wie das Leben funktioniert und wie man Geld verdient, um dann 40 Jahre lang genau das zu tun und wenn alles gut läuft hat man noch 20 Jahre, um seinen wohlverdienten Ruhestand zu geniessen. Also einfach gesprochen verbringt man 50% seines Lebens damit, 100% seines Zeitfensters zu finanzieren (die ersten 20 Jahre des Lernens finanziert man zwar seinen Nachkommen, hat aber im Gegenzug dafür diese auch fremdfinanziert bekommen). Das bedeutet wiederum, dass man in den 40 Jahren Berufsleben doppelt so viel Geld verdienen muss, wie das eigens gewählte Leben kostet. <img src="https://blossom.primal.net/95659d0f7dbf5779eb8313437df5d013a201d36018e2dc7622568350e4e67950.png"> Um auf die Redewendung "Zeit ist Geld" zurückzukommen, bedeutet dies schlicht, dass jeder arbeitende (und damit Geld verdienende) Mensch seine eigene knapp bemessene Zeit in Form von Arbeit zur Verfügung stellt, um Geld zu verdienen. Dies tun wir, da wir Zeit eben nicht sparen können. Wir versuchen sie in einen anderen Aggregatzustand umzuwandeln (Zeit ➡️ Geld), um uns zu einem späteren Zeitpunkt mit diesem Geld unsere Zeit zurückzukaufen. Dies funktioniert zwar nicht im direkten Sinne, also dass wir uns zusätzliche Zeit kaufen, jedoch können wir das Decken laufender Kosten vorfinanzieren und somit, hoffentlich, im Ruhestand leben, ohne unsere laufenden Kosten durch Arbeit decken zu müssen. Wenn alles gut läuft, schaffen wir es sogar unseren gewählten Lebensstandard aufrechtzuerhalten und führen somit ein für unsere subjektiv gesteckten Messpunkte würdevolles und angenehmes Leben. So die Theorie. Denn in der Praxis funktioniert dies nur, wenn es uns möglich ist, unsere Zeit in ein Geld umzuwandeln, das es uns erlaubt, eine Umwandlung von Geld zurück zur Zeit zu einem späteren Zeitpunkt so vorzunehmen, dass wir möglichst wenig verlieren. Dies ist die einzige Aufgabe eines Wertaufbewahrungmittels: Der Erhalt des jetzigen Wertes einer Sache über einen Zeitraum hinweg. <img src="https://blossom.primal.net/601ff96a8e60bae2498074b96cd7ffe41cf1a686580d58c88ed006d0d06b37b0.gif"> Praktisch gesprochen besteht dieser Vorgang aus zwei Komponenten. Zuerst müssen wir Geld verdienen, dann müssen wir es sparen. Bestenfalls schaffen wir so viel Geld zu verdienen, dass unsere Einnahmen unsere Ausgaben übersteigen, damit wir überhaupt in der Lage sind, überschüssiges Geld zu sparen. Dann müssen wir ein Wertaufbewahrungsmittel finden, dass es uns erlaubt, diesen Überschuss so zu konservieren, dass wir ihn zu einem späteren Zeitpunkt abrufen können. Über die erste Komponente lässt sich schon genug schreiben, über den gewählten Lebensstandard und die damit einhergehenden Kosten, die (Un-) Gerechtigkeit und Chancenungleichheit beim Erlangen einer Erwerbstätigkeit, etc. blah. <img src="https://blossom.primal.net/8d69d37a1179f571ca7c781e7fa50e7fca8be4e3d705df56e470ff4d5da4d2ea.gif"> Die zweite Komponente allerdings ist für unsere Betrachtung die viel entscheidendere. Denn gehen wir davon aus, dass wir zu den glücklichen Wenigen gehören, die es schaffen eine niedrige Zeitpräferenz zu erlangen und Überschüsse in der Gewinn- und Verlustrechnung des Lebens zu erzielen, so bleibt immernoch die grosse Frage offen, wie wir es schaffen sollen, diese Überschüsse zu konservieren, sodass wir sie dann später nutzen können. Und zwar so, dass sie möglichst wenig an Wert verloren haben, oder sogar an Wert zugenommen haben. Genau das ist das Geschäftsmodell von vielen Unternehmen, Institutionen und Schlangenölverkäufern weltweit, die damit werben, unser hart verdientes Geld so anzulegen, dass es später unseren Ruhestand finanziert. Sie wollen uns in ihre undurchsichtigen Finanzierungsmodelle locken, um damit als die eigentlichen Profiteure hervorzugehen. <img src="https://blossom.primal.net/0923aa1ae7c91a7e6bf058bd8b0b08f01c091c46216bd87d88d2b1b24fd8d07f.gif"> Ob private oder staatliche Altersvorsorge, Riesterrente, Bausparvertrag, 401k, IRA, fondsgebundene Tralalarente oder Aktion Mensch-Los mit Sofort-Rente, alle Anbieter spielen mit der Sorge der Menschen, dass ihr heute gespartes Geld morgen wohl nicht mehr zur Finanzierung des erträumten Ruhestands reicht. Und warum ist das so? Wegen des effektiven Kaufkraftverlustes unseres aktuellen Geldes. Viel Tinte wurde vergossen, viele Tasten misshandelt, um dieses Thema zu beschreiben, das heute aktueller denn je ist. Denn wenn Geld in einer Fiat-Währung für die zukünftige Verwendung gespeichert wird, verliert es aufgrund der Währungsinflation im Laufe der Zeit an Kaufkraft. Das bedeutet effektiv, dass die investierte Zeit nicht nachhaltig widergespiegelt wird, oder drastischer ausgedrückt: wir haben unsere Zeit verschwendet. Sparen funktioniert also nicht mehr, wie es uns damals im Kindesalter beigebracht wurde. <img src="https://blossom.primal.net/948c7ac6662f072a6c0ad927d4c3cebced9ddda2b92314d33bc51c9419dc56a2.png"> Bitcoin fixes this, yay, Bitcoin-Floskel. Aber warum ist das so? Während Fiat-Währungen einem reellen Kaufkraftverlust ausgesetzt sind, der durch Fiskal- und Geldpolitik bedingt ist, ist der Wert von Bitcoin immer gleich. Ein bitcoin = ein bitcoin. Jetzt könnte man natürlich entgegensetzen, dass ein Knopf = ein Knopf. Allerdings lassen sich Knöpfe unendlich nachproduzieren und in Umlauf bringen. Doch wie wir wissen, hat Bitcoin eine harte Obergrenze von 21.000.000 bitcoins. Dies macht Bitcoin wahrscheinlich zum überprüfbar knappsten Gut auf unserer Erde. Selbst unser Zeitfenster könnte mit ein paar Entwicklungssprüngen in der DNA und Molekularforschung vielleicht irgendwann deutlich ausgeweitet, wenn nicht sogar für immer geöffnet werden. Jedoch ist Bitcoins Code unveränderlich: Die 21 Millionen Obergrenze ist in Stein (Code) gemeißelt und damit eignet sich Bitcoin hervorragend als langfristiger Speicher für Zeit. Allein der Umrechnungskurs von Bitcoin in eine lokale, aktuelle oder für den Moment nützliche Währung hängt davon ab, wie viel Zeit man in einen anderen Wert umwandeln kann. Doch auch dies ist ein Feature und kein Bug. Denn jeder Arbeitstag, den ich heute in Euro oder US Dollar "spare" (besser: umwandle), ist komplett verloren, wenn diese Fiat-Währung zu einem Zeitpunkt x nicht mehr existiert. Dann ist es doch von Vorteil, wenn man seine Zeit in einen neutralen Aggregatzustand umwandeln kann, der sich in Zukunft beliebig in die benötigte aktuell brauchbare Recheneinheit / Währung transformieren lässt. <img src="https://blossom.primal.net/cc2e3f8b7d1a39495c2f6e151a662489d06af2d055cf48f6ed117757b42c76e6.png"> https://storeoftime.com/ Andersherum lässt sich argumentieren, dass das Währungspaar nicht BTC/USD oder BTC/EUR ist, sondern direkt ZEIT/BTC. Man ermittelt also den Wert von Zeit direkt in einer Bitcoin-Ausdrucksweise, die in Zukunft sogar festgesetzt werden könnte und damit die ultimative Währungseinheit darstellen würde. ### Bitcoin verstehen Bitcoin ist nicht nur Zeit im Sinne von umgewandelter Zeit in Geldmenge, sondern als reeller Zeitaufwand, um Bitcoin zu verstehen und Bitcoin für sich selbst begreifbar zu machen. Auch diese Definition von Zeit ist wiedermals für jeden Menschen subjektiv und dem eigenen Empfinden nach zu bemessen. Was jedoch nicht von der Hand zu weisen ist, ist dass es einen gewissen Mindestaufwand von Zeit, ob mit der Lektüre verschiedener Texte, dem Austausch mit Gleichgesinnten, dem tatsächlichen Ausprobieren und Erlernen der mechanischen Abläufe, etc. bedarf, um Bitcoin zu begreifen. Niemand wird jemals Bitcoin in seiner Gänze, seiner Tragweite oder seiner Wirkung vollständig verstehen, allerdings bin ich fest davon überzeugt, dass es diesen einen Punkt gibt, an dem bei jedem an Bitcoin interessierten Menschen ein gewisser Aha!-Moment eintritt, an dem viele Puzzleteile mit einem Mal ein Bild ergeben. Dieser Moment tritt bei manchen sehr früh, bei manchen eher später ein, jedoch eint alle Bitcoiner und Bitcoin-verstehende Menschen dieser eine Moment, den es nur zu erreichen möglich ist, wenn ein gewisses Maß von Zeit investiert wurde. Dieser Moment lässt sich nicht erklären und muss von jedem Menschen selbst erlebt werden, um ihn zu verstehen. Damit kann er nicht erkauft oder erschlichen werden, sondern lässt sich nur in Form von aufgebrachter Zeit erreichen. Damit trägt Bitcoin eine weitere Zeitkomponente in sich, die weder im Whitepaper, noch im Code, noch in später veröffentlichten Texten Satoshis festgehalten oder gar definiert wurde. Jedoch wage ich zu behaupten, dass es niemanden gibt, der/die Bitcoin begriffen hat und von sich sagt, diesen Moment der Klarheit, der Offenbarung, nicht erlebt zu haben. <img src="https://blossom.primal.net/6f2b18880c3c6c5ce5ba4ad4203570745429d3324673ef146ce06059b6e918e9.gif"> ### Bitcoin hat sein eigenes Verständnis von Zeit Zeit ist ein sehr tiefgründiges und subjektives Konstrukt. Es gibt die Uhrzeit, also eine Zahl, die uns anzeigt, wie weit der jeweilige Tag vorangeschritten ist. Der Kalender misst auch Uhrzeit, nur eben nicht in Form von Stunden, Minuten und Sekunden, sondern in Monaten, Wochen und Tagen. Und dann gibt es noch Jahre. Wohingegen Sekunden, Minuten, Stunden, Tage, Wochen und Monate begrenzt sind - es gibt z.B. nur 12 Monate, dann fangen wir wieder von vorne an zu zählen, ist die Anzahl von Jahren keinem Zyklus unterworfen. Es wird immer weiter gezählt. Natürlich gibt es Dekaden, Jahrhunderte, Jahrtausende, etc., doch sind diese nur Recheneinheiten, die das Zählen von Jahren vereinfachen. In unserem System gibt es ein Jahr null und seit dem zählen wir vorwärts (wenn man davon absieht, dass sich jemand vor 400 Jahren das Jahr null ausgedacht hat und seit dem alles zurückgerechnet wurde, aber wir wollen mal nicht kleinlich sein) und alles was vor diesem Jahr null liegt, wird rückwärts gezählt. Dem Weihnachtshasen sei Dank 🙏 Genauso willkürlich, wie diese Zeiterfassung festgelegt wurde, verhält es sich bei Bitcoin auch. Denn Bitcoins innerer Maschinenraum ist eigentlich nichts anderes als eine eigenwillige und nutzungsbezogene Uhr. Die Bitcoin-Blockchain ist eigentlich eine Timechain, ein sogenannter Timestamp-Server. Wie schon mehrmals erwähnt, findet man das Wort 'Blockchain' in Satoshis Whitepaper nicht ein einziges Mal. Dafür findet man bereits im vierten Satz den Begriff 'Timestamp'. <img src="https://blossom.primal.net/e17ff4438d64816e078ee4905efa8b5e4ed7251b185e9e154fcc0164a67f9e3d.gif"> Da Zeit ein recht flexibler Begriff ist und die Zeitmessung vom jeweiligen Nutzen oder dem Erfüllen eines Ziels abhängig ist, ist es besonders schwierig, ein allgemeingültiges System zu wählen. Zeit kann in vielen Formen dargestellt werden, von "Jetzt bis kein Bock mehr", oder "Anno Pief und Dazumal" gibt es etliche Redewendungen, die zeigen, dass Zeit gefühlt wird und nicht gemessen wird. Doch wenn man ein global funktionierendes dezentrales Netzwerk errichten möchte, dass darauf basiert seine eigene Wahrheit zu speichern, ohne auf Dritte angewiesen zu sein und alle Transaktionen so zu speichern, dass sie nachvollzogen und validiert werden können, bedarf es eines Zeitmessungsmechanismus. Und dieser muss absolut fehlerfrei sein und darf keine Latenz zulassen, da sonst Raum für Schummeleien geboten wäre. Was eignet sich da also besser, als ein eigener, eigens für diesen besonderen Zweck erdachter Mechanismus zum Festhalten von Geschehnissen? Diese Geschehnisse werden vom System mit einem Zeitstempel versehen, der unmissverständlich macht, welche Reihenfolge von Geschehnissen die eine Wahrheit ausmacht, der alle Netzwerkteilnehmer vertrauen. Gigi hat sich dem Thema in seinem neuen Buch deutlich detaillierter gewidmet und ich empfehle jedem/r die Lektüre dieses Kapitels: https://21-ways.com/2/ ### Fazit Bitcoin ist nicht nur Zeit. Bitcoin misst die Zeit in seiner eigenen Weise. Bitcoin verlangt Zeit von uns, damit wir es begreifen, aber Bitcoin hilft uns, den Wert unserer Zeit einzufangen. Damit ist Bitcoin sowohl das Metronom, das seinen eigenen Takt angibt, strenger Lehrer, der Aufwand fordert, um Exzellenz zu erreichen, als auch Tresor oder Akku, der aufgebrachter Zeit einen Wert beimisst, und diesen Wert zu speichern vermag. Tick, tock, next Block! 🫳🎤 --- In diesem Sinne, 2... 1... Risiko!‌ 

@ f9cf4e94:96abc355

Na era das grandes navegações, piratas ingleses eram autorizados pelo governo para roubar navios. A única coisa que diferenciava um pirata comum de um corsário é que o último possuía a “Carta do Corso”, que funcionava como um “Alvará para o roubo”, onde o governo Inglês legitimava o roubo de navios por parte dos corsários. É claro, que em troca ele exigia uma parte da espoliação. Bastante similar com a maneira que a Receita Federal atua, não? Na verdade, o caso é ainda pior, pois o governo fica com toda a riqueza espoliada, e apenas repassa um mísero salário para os corsários modernos, os agentes da receita federal. Porém eles “justificam” esse roubo ao chamá-lo de imposto, e isso parece acalmar os ânimos de grande parte da população, mas não de nós. Não é por acaso que 'imposto' é o particípio passado do verbo 'impor'. Ou seja, é aquilo que resulta do cumprimento obrigatório -- e não voluntário -- de todos os cidadãos. Se não for 'imposto' ninguém paga. Nem mesmo seus defensores. Isso mostra o quanto as pessoas realmente apreciam os serviços do estado. Apenas volte um pouco na história: os primeiros pagadores de impostos eram fazendeiros cujos territórios foram invadidos por nômades que pastoreavam seu gado. Esses invasores nômades forçavam os fazendeiros a lhes pagar uma fatia de sua renda em troca de "proteção". O fazendeiro que não concordasse era assassinado. Os nômades perceberam que era muito mais interessante e confortável apenas cobrar uma taxa de proteção em vez de matar o fazendeiro e assumir suas posses. Cobrando uma taxa, eles obtinham o que necessitavam. Já se matassem os fazendeiros, eles teriam de gerenciar por conta própria toda a produção da fazenda. Daí eles entenderam que, ao não assassinarem todos os fazendeiros que encontrassem pelo caminho, poderiam fazer desta prática um modo de vida. Assim nasceu o governo. Não assassinar pessoas foi o primeiro serviço que o governo forneceu. Como temos sorte em ter à nossa disposição esta instituição! Assim, não deixa de ser curioso que algumas pessoas digam que os impostos são pagos basicamente para impedir que aconteça exatamente aquilo que originou a existência do governo. O governo nasceu da extorsão. Os fazendeiros tinham de pagar um "arrego" para seu governo. Caso contrário, eram assassinados. Quem era a real ameaça? O governo. A máfia faz a mesma coisa. Mas existe uma forma de se proteger desses corsários modernos. Atualmente, existe uma propriedade privada que NINGUÉM pode tirar de você, ela é sua até mesmo depois da morte. É claro que estamos falando do Bitcoin. Fazendo as configurações certas, é impossível saber que você tem bitcoin. Nem mesmo o governo americano consegue saber. #brasil #bitcoinbrasil #nostrbrasil #grownostr #bitcoin

@ a38a5cd0:92b1b8f0

I was born and raised in Europe—Switzerland, to be exact—and we’ve always had a special relationship with Europe or the EU. Although Switzerland is in the middle of Europe, it has always been isolated—not politically speaking, but through clever negotiations and an attractive financial marketplace. But it’s still part of Europe, and whenever we drove to Germany, Austria (where I now live), or Italy, we always felt at home. Everyone was welcoming and accepted that Switzerland is the ‘special kid’ on the continent. This is one of Europe’s superpowers. It lives off its different cultures. Other than America, I’m sorry to compare it, but it feels like many Americans have never left their own country; we can drive somewhere for three hours and pass two or even three countries. Citizens speak different languages in each country, but we get along because there is a certain ‘European Vibe’ around. These different cultures and societies enable you to find communities where you feel at home and can be the best version of yourself—at least, that’s what I believe and have experienced. However, the last 15 years have been challenging. Not only from a business standpoint, we tend to regulate and not innovate, but also from a political standpoint. The EU and specific countries such as Sweden, Germany, and even Austria are fighting with high immigration, the Euro crisis – casually losing over 65% of its purchasing power this past decade – and ever-increasing debt. Combine that with a keen interest by the majority of the population in Europe for Communism or Socialism. Please don’t ask me why it’s so popular in Europe. I think it could be an outcome of the world war situations where we never wanted to shift extremely right again. Or maybe the openness of the European spirit invites this thoughtfulness. These ideologies don’t want the individual to succeed. For the better of all, it has always been at the center of these political movements. Inevitably, this idea leads to more poverty, more centralization, and, in the end, less democracy (the favorite word of any left-leaning politician in Europe) with a dictator at the whelm. For some weird reason, we don’t want individual Europeans to succeed; instead, we have a collectivism that punishes brilliant ideas and nurtures the ever-increasing state. So, why are you writing this essay then, Joël? Are you a right winger who’s just here to tell us Communism failed and we should do something else? NO! While my political views can definitely be described as conservative, I’m not associated with the right side of the aisle and would describe myself as a libertarian. However, for the European standard, I might be categorized as ‘right-wing,’ but who isn’t these days?! But to answer the question, I think we have a secret weapon. Many of these freaks are either ignoring or deliberately downplaying because they’re scared of losing power and trying everything to forbid it. You might have guessed by the title this secret weapon is Bitcoin! There are apparent reasons why Bitcoin is the ultimate solution for Europe. These reasons are well known, from its scarcity to its natural state as the best reserve asset and its average value increase of 45% each year for the past decade. From a monetary perspective, these points make perfect sense. However, there is more to the orange coin, especially from a polarization perspective. In Europe, the left and right are so far apart that it’s laughable. Bitcoin is the only asset or ecosystem enabling people from two corners to reunite and agree on something. In Europe, in particular, this is something like human rights and privacy for every individual on the continent. It doesn’t matter whether you’re in Switzerland, Germany, or Portugal. Every citizen of these countries is rooting for human rights and the right to protect your most precious secrecies from third parties, aka the ever-increasing security state. If you take a closer look at most political debates in Europe, both the left and the right agree that citizens should be able to protect their physical or digital properties and how to be more independent. Bitcoin enables you to do all of these things. Additionally, mining can be an excellent catalyst for all parties to unite if you examine topics such as energy independence. Lefties can choose renewable energy, while right-wingers can embrace a free and healthy energy market. Bitcoin also enables this. However, the most significant and crucial point is that Bitcoin will enable all nations to be independent again. Many countries lost their sovereignty mainly due to the EU and the Euro. We no longer talk about each country’s interests; instead, we insert the sentence, ‘Anything that’s good for the EU.’ While the EEA (European Economic Area) was a noble idea that facilitated trade and economic output in Europe, it was abused and became a regulatory superpower with the EU. You can see the consequences of this from the sheer number of companies who left Europe or international companies who treat Europe as a secondary market with little interest. If Nations can regain sovereignty again and nurture their economic or sociological advantages, every citizen in these countries will have a new outlook on life. All it takes for each of them to make the most important step in their Bitcoin journey; being curious enough to learn more about it, spending some time learning the fundamentals, and getting off zero! One European nation with great potential for this is my home country, Switzerland. We’re the golden European standard for democracy, sovereignty, a strong economy, and a country where everyone can succeed. After all, fellow Bitcoiners have already taken the initiative to add Bitcoin to the Swiss National Bank (SNB) ’s balance sheet and have already invested in MicroStrategy. All it takes is the last step, which is to stack Sats as a strategic treasury reserve asset. As a fellow Swiss citizen and someone who works at a Swiss Bitcoin-only company, I would welcome this step and would love to help out! To quote Walt Disney: ‘The way to get started is to quit talking and begin doing.’ So go ahead, Europe, and get started! Block space is limited, and 2140 is edging closer every ten minutes with a new block!

@ a1c19849:daacbb52

# Introduction nostr:npub1nj5v9hfxegyuqz4z9vfpgu9lxpgald066wspxadywmhslasuw2gsnyrxzg shared a great thread on X about what the Dutch Noderunners did to push Bitcoin adoption. Since it took him quite some time and he didn’t want to redo it on #nostr I’m happy to share his thread here as well, since it has a lot of cool stuff in it. Here we go: ----------- # Noderunners 2024 Recap by nostr:npub1nj5v9hfxegyuqz4z9vfpgu9lxpgald066wspxadywmhslasuw2gsnyrxzg  > Here it is, the 2024 Noderunners recap! As we are preparing for our annual party on the third day of Christmas I’d like to reflect to all the great stuff we’ve build together to push bitcoin adoption from bottom up. I’m proud we’ve made it this far and we’re just starting! 🔥 We like to come together as often as possible to chat about bitcoin and drink a beer so we started even more meetups. We now do meetups in Roermond, Leiden, Eindhoven, Utrecht, Breda, Friesland, Zaandam. And an occasional party in Arnhem or Den Bosch. Feel free to join us anytime.     > On our meetups and in the wild we meet the most awesome bitcoiners. To show them our respect we honor them by knighting them as an Honorary Noderunner. This year nostr:npub1nw5vdz8sj89y3h3tp7dunx8rhsm2qzfpf8ujq9m8mfvjsjth0uwqs9n2gn nostr:npub13ql75nq8rldygpkjke47y893akh5tglqtqzs6cspancaxktthsusvfqcg7 nostr:npub1cn4t4cd78nm900qc2hhqte5aa8c9njm6qkfzw95tszufwcwtcnsq7g3vle and nostr:npub1uaj9phu5lpxpczm3vaayt46m0yv0pduxzy7z6quwd2uggxue7fmqx9665u joined our ranks! 🧡    > As you can imagine, we were pleasantly surprised when we saw an honorary Noderunner wearing his pin in the courtroom in the case against fAkEtOsHi! Nice to meet again in Amsterdam nostr:npub1qg8j6gdwpxlntlxlkew7eu283wzx7hmj32esch42hntdpqdgrslqv024kw !    > The Bitcoin conference in Amsterdam was full of Noderunners. On and off stage. On stage we had nostr:npub1jqs0u7zhh53e94gyhm4eu458wm6sw7z0kk66jjhhkhh346tcq2ysfgr247 nostr:npub1h0fd5xu8rfhwdkkjr78ssdhm7rdjyf97hhjqr9acwv77ux0uvf8q23kvcg nostr:npub17tyke9lkgxd98ruyeul6wt3pj3s9uxzgp9hxu5tsenjmweue6sqq4y3mgl Tom Lamoen and others.     > In the panel there was nostr:npub1art8cs66ffvnqns5zs5qa9fwlctmusj5lj38j94lv0ulw0j54wjqhpm0w5 who [asked a cheeky question… 🤓](https://yakihonne.s3.ap-east-1.amazonaws.com/a1c1984994512025327f52c7b6d3a1434a37fbb7a318380cab4832f8daacbb52/files/1735554589353-YAKIHONNES3.mp4) He wrote the awesome “The Genesis Book” in which he describes the people and technology that led to the birth of bitcoin. Hope to see you 3kd Aaron! > Proof of work is the thing Noderunners value the most. We do the work on and offline. In Amsterdam we had several projects to display! Of course [the BitcoinTaps](https://yakihonne.s3.ap-east-1.amazonaws.com/a1c1984994512025327f52c7b6d3a1434a37fbb7a318380cab4832f8daacbb52/files/1735554793664-YAKIHONNES3.mp4), the bitcoin bitaxe B at the entrance, The nostr:npub1kd3nlw09ufkgmts2kaf0x8m4mq57exn6l8rz50v5ngyr2h3j5cfswdsdth arcade and the video of @npub1f59dz0ru0l8zpsl4cryj5ch2rahwxeex3mr7lpl2ltzxsfwsdwastu6nqk!  > Personally I was very exited nostr:npub1qg5a5l3t7pakmm4r4up2e764xecsw62fk3rntevm24fwyczhndtsdrvc4x Edward and Stef of Connect The World Podcast allowed us to bring the Arcade to the afterparty at Braai where we played some tournaments with nostr:npub1jt97tpsul3fp8hvf7zn0vzzysmu9umcrel4hpgflg4vnsytyxwuqt8la9y nostr:npub1j8y6tcdfw3q3f3h794s6un0gyc5742s0k5h5s2yqj0r70cpklqeqjavrvg and many others!    > Hopefully we can create a Noderunners lounge or such next year at @npub13e6qu4kdjsyysrfl5an558rawvqg0rx2xuat9ca706spcdqjzhuqq6md43! Connections were made!    > This year there was also the first edition of nostr:npub1uv2tr83c5y7k82af6zdzlqs8m0klcmndd8u5vmlg2eyrskld6uzsv4rmr8 organized by nostr:npub14mge80nm5r0zj0gncxvpunlr28jyku95547q0m82ec475x3yy92skvjgm5 and Bitcoin Stad. It was an awesome event with great speakers but the best thing was the Noderunners Lounge in the basement where [Hester Bais tapped a beer.. 🍺](https://yakihonne.s3.ap-east-1.amazonaws.com/a1c1984994512025327f52c7b6d3a1434a37fbb7a318380cab4832f8daacbb52/files/1735555060373-YAKIHONNES3.mp4)    > There was some trouble in paradise when the GitHub page of nostr:npub1k5f85zx0xdskyayqpfpc0zq6n7vwqjuuxugkayk72fgynp34cs3qfcvqg2 got canceled due to false copyright claims.. He makes the most beautiful, full open source BTClock! He’s a good frend and very productive Noderunner! 🧡    > nostr:npub1k5f85zx0xdskyayqpfpc0zq6n7vwqjuuxugkayk72fgynp34cs3qfcvqg2 also did a lot behind the scenes for the Noderunners SOLO Mining Pool! http://pool.noderunners.network   > As we are also very enthusiastic about NOSTR nostr:npub1p6xyr6u5vet33r4x724vxmp9uwfllax5zjdgxeujyrtxt90lp74qvah0rm has set up our own nostr relay: wss://relay.noderunners.network  > Noderunner nostr:npub1yn84ur49llj7pp9a7uv477f7vrpj0rj7df5pnfncvkusaxgy6jqsj9xgfl set up a mixer where he organizes a weekly coinjoin every sunday for more anonymous bitcoin transactions. https://coinjoin.nl  > Our Belgian Noderunner Kim de Vos made the infamous “Big Mac index” where he expresses the price of bitcoin in Big Macs.. He also runs the AVBpodcast (my personal favorite).  > We have several members who have their own podcasts. Also a lot of Noderunners appeared in podcasts as a guest. nostr:npub1agyf7kae8nkxqrd7rvvxt6nh9vwpcqzen2mc9dl3u38a04awpjcq09n23f educates bitcoin beginners.  Tom Lamoen talks about libertarianism. > nostr:npub1gfxgylgst4lcemkjth6xdvcvq7le8rtlrym7wayml63qrjggngaqkqescl interviews bitcoiners from all over the world.  > And nostr:npub1kj2ngxmm0zccswfqplff87rpgvmq9utvk0g726wc0h8pv4kwm8ss6zgm4n laughs at 🤡🌍  > After months, even years of hard work nostr:npub1w98ems6ryhpv7zvmhwp5sv65p0pwrnvzw4lucn0ch776qan9ntdstscwpx launched [the best bitcoin board game ever!](https://yakihonne.s3.ap-east-1.amazonaws.com/a1c1984994512025327f52c7b6d3a1434a37fbb7a318380cab4832f8daacbb52/files/1735555757989-YAKIHONNES3.mp4)   > nostr:npub1w98ems6ryhpv7zvmhwp5sv65p0pwrnvzw4lucn0ch776qan9ntdstscwpx is also involved with the Dutch bitcoin magazine BitcoinFocus which features a lot of Noderunner builds and articles.   > Of course I should mention our frens at nostr:npub1ua6fxn9ktc4jncanf79jzvklgjftcdrt5etverwzzg0lgpmg3hsq2gh6v6 where you can pay a few sats to play your favorite songs! http://radio.noderunners.org  > LightningPlaces is working hard making entrepreneurs accepting bitcoin and putting them on their website! 🔥💪🏼    > nostr:npub1lhufm09wzp42y67t3s8axlewwna8rmetak68w38yal7xjrwktpsscpt08x is also hooking up webshops and physical shops (and bars) to accept bitcoin! Connect them if you’re looking for a custom solution! https://lightningcheckout.eu/nl/   > Maybe we should create an open source HW Wallet too but for now we have the man, the myth, the legend nostr:npub17tyke9lkgxd98ruyeul6wt3pj3s9uxzgp9hxu5tsenjmweue6sqq4y3mgl in our midst.. A real honor as we all share the same values and ethics in life but especially in bitcoin! We’ve been building seedsigners from scratch by the dozen!   Most of us are very entrepreneurial. Several bitcoin shops are run by Noderunners. nostr:npub1qvwdl9rp7a5ghrxv57wnml5ehg2whjh708vys6kaxpkgu0z3aclsuy2h4p - https://bitcoinbrabant.com nostr:npub1k00lff0ahjv4d2kwuwxy040d2282yjmzj6eeu5ghav054s4yrfzsplyc86 - https://bitsaga.be nostr:npub1837pplcuwcjn35zwmpuy62ekcfdtvklajn6pueus3am09s27vu6smuj6v9 - https://miningwholesale.eu > A special shoutout to our junior Noderunner Esramsterdam who is organizing a bitcoin event focused on women. Because bitcoin is not only for men. More info: https://vanbanknaarbitcoin.nl  > Also a special shoutout to @npub17k8u7c6kfjgtd380890zx0m4adu8vl53m9fvtc7lal4j9gp74xqqkguha4! The only way to get free sats. Drank not enough beer with nostr:npub1pzurm7nx3q08894wl6uautryq95sku5jhzgwjjrskwdafcwxekuq4n7vtu this year.. but we really need to set up a collaborative project!  > Ok I’m done. Forgot a lot but this sums it up quite well. Greetings and love to everyone involved with the Noderunners I forgot to mention. I love you all and hope to build a lot more together! 🧡🔥 nostr:npub103uy2vsk5hrnldwdu0nztmsg7g6207cfqu744rnrnalauns6facsgj5ddp nostr:npub1l9evr9vx4u2xefesmfu6gyypfdu7k8zwdw7rrnh5ckdds8fqx59sy3ferg nostr:npub1cwzduskqu6yuxjs2a75uptj3vzfa84gv5q3xlkcpzs6usjfey24qvk70dv nostr:npub1etuf22z5jwp765m8dqcw7rx5egjzjnwm9xwm4m367e9hxkd9vvaq04duqw nostr:npub1mw6tm8kery0dwmz670vvg74z0xzttwt3y7yppya5rulufpkkaj7qmg2922 nostr:npub12qw34mucxxk200835d8qt5mshfukd39vvz4s94f0e6xthg0xpjmq3wvjlw nostr:npub1d5axlx84ajq7q5yn4u86m9xgnmssgq5c6ktjfmu6qtw7jah24hzs57tmvz nostr:npub1vnlkmja076ft0h2ppme4pvcyfh8zmwl4l7hpfm4du0jagwck04lq8rkr0w Jan Burgers nostr:npub1r35gr0g93gxpkcq77v9sx97d5aqg4edr0qwhdj2xr4xxt6slp7nswgahlx Short Non-Bitcoin nostr:npub12786tz9vyzuhe5jdjc9esd64vqh3pvqe34u9a3dyegudv5chkx9sexz86w Joep Laser Sheep - Elden Lord 3x nostr:npub12xtq7ufn6kjppvl24dnvezsny872u8xacfsy640fzd69446kgczsp8v5nm nostr:npub1m0yz3tvsa8cwheqhkqj96zr9kget8j8yda0vfmrah5c0dafj6xcq4l4az6 @Erik Dutch nostr:npub1kvfz8rglvpsqevznlt86ukcz0s9uap3pypjwd3tnmkn2pgjmjujqlncy2c nostr:npub1l5pxvjzhw77h86tu0sml2gxg8jpwxch7fsj6d05n7vuqpq75v34syk4q0n Noderunners Shop nostr:npub1ylnqfg0neysvsesen9je80wmsv9r5204x30mgd5ev6dr3q95xpxq3nmcxd nostr:npub1ap78x7mvw0vu9s7yltflmkqphx8rt8hsk9gdg0k42vwnmnpvpe2qptxewe nostr:npub1n2ph08n4pqz4d3jk6n2p35p2f4ldhc5g5tu7dhftfpueajf4rpxqfjhzmc @Bitcmonkey @Roynode nostr:npub18n56f28efvmsjcl80lv2ngtmkl3y6q2rg0m2zqas3kw4jwkrsvdqxnmver nostr:npub135q6dvnjah9023xszmjs2wvd4gqhn2trku52wt2lv8cl4hc8ltjsk0w4sq nostr:npub1837u93v8am8q2rauvkqfk9sf6xfq07p9m4m82jueqh5u4qzkg25qesqrr4 nostr:npub1pkmp7vtgfwg7g0pt4xdd4r2npz2p8yweeq0yx7xm590h4nuszynqq2e2r3 nostr:npub19r33crtgdt4spqxl5a3nhqx2ucdputtqcnnxkplnp4mv2dqldqqs39j5eq nostr:npub19z9g9ymx3aalx3h0jr2cskehvhgppznv2lpqsrpgggpeueesq4lsknsp8r nostr:npub1jlvtd4zmq7ukjcytqxu2gy5myp2uataupjk4a3l467fj7pxpk3xq5p3w0j @HeroVanKampen nostr:npub16htmakd0gvsmwjnravfvfn5mh2x7wjd0vxq20z2c0979e7xh0a8q6ssnew nostr:npub1xw6jekvethghmrlv0chkx5p78h3wk2ep5x588ga854d68cugr40qxuwt5e nostr:npub1zakkum8w7uancehpev0drxuly3e74fg5v7q4n0zpxcdn72wakpjs9cgpve > and all others I can’t find here or I forgot.. 🧡🔥💪🏼 LFG, see you soon! >Bonus: This has never aired but @DanielMol was doubtful of our impact to more bitcoin adoption.. I know we are a bit toxic but we have our hearts on the right place and help anyone who is serious about it.. Happy days Daniel! 🧡 

@ b8a9df82:6ab5cbbd

In just two days, 2024 will come to a close. And as I sit here reflecting and drinking my morning coffee, I can confidently say that this has been the best year I’ve had since 2018. The years leading up to this one, especially since returning to Berlin, were some of the most challenging of my life. They tested me in ways I never expected—moments when I wanted to give up, when I felt so lost I couldn’t see or feel anything anymore. I lost my smile, my positive side, my emotions, and even my sense of self. But this year was different. It felt like the sun finally broke through the clouds, and I could see light at the end of the tunnel. I laughed more. I loved more. I felt deeply again, like my emotions finally had room to breathe. For those who have read my book, you know I’ve faced my share of dark days, as many of us do. Some days were heavier than I could have imagined, and even now, there are moments when I question, \*“Why? Why this path? Why me?”\* But this reflection isn’t about the darkness. \*\*It’s about the gratitude.\*\* 2024 blessed me with so many moments of joy. I traveled, saw the world from new perspectives, and met extraordinary people who brought meaning and light into my life. These experiences reminded me that connection matters, that there’s beauty in the unfamiliar, and that we grow when we open ourselves up to it all—the good, the difficult, the unexpected. Now, back in Berlin, I feel a shift. The city feels cold again—not just in temperature, but in energy. Dark skies and gray streets mirror an unbalanced restlessness I can’t ignore. It’s not the coldness itself or the clouds; it’s the way this place feels as though it’s lost its spark. Smiles seem rare, warmth even rarer. And perhaps, that’s my sign. My time here feels like it’s coming to a close. But as this chapter winds down, I feel at peace. 2024 reminded me that life doesn’t stay stagnant. Even in the darkest times, the wheel turns. This year was proof that healing is possible, that joy can return, and that love—whether found in people, places, or moments—still exists. So, wherever this journey takes me next, I will carry this year with me. I’ll carry the laughter, the lessons, and the memories of those who reminded me that even in a messy, chaotic world, light and connection can thrive. And perhaps, just perhaps, this is only the beginning. The chapters ahead are unwritten, but I feel ready to meet them—with an open heart and gratitude for all that’s brought me here. Happy 2025 to all of YOU

@ 254f56d7:f2c38100

Vamos ver seu funcionamento 

@ a012dc82:6458a70d

**Table Of Content** - The Influence of Global Oil Prices - Bitcoin's Roller Coaster Ride - Anticipation Surrounding the 2024 Halving Event - The Broader Crypto Landscape - Conclusions - FAQ In the ever-evolving world of cryptocurrencies, Bitcoin stands as a beacon, often dictating the mood of the entire crypto market. Its price fluctuations are closely watched by investors, analysts, and enthusiasts alike. Max Keiser, a prominent figure in the crypto space, recently shed light on some intriguing factors that might be influencing Bitcoin's current price trajectory. This article delves into Keiser's insights, exploring the broader implications of global events on Bitcoin's market performance. **The Influence of Global Oil Prices** Max Keiser, a renowned Bitcoin advocate and former trader, recently drew attention to the interplay between global oil prices and Bitcoin's market performance. Responding to a post by German economics expert, Holger Zschaepitz, Keiser highlighted the significance of Brent oil reaching $90 per barrel for the first time since the previous November. According to Keiser, the surge in oil prices, driven by Saudi Arabia's decision to extend its reduction in oil production for another three months, has had ripple effects in the financial world. One of these effects is the shift of investor interest towards higher interest deposit USD accounts. This diversion of investments is creating what Keiser terms as "a small headwind for Bitcoin," implying that as traditional markets like oil show promise, some investors might be reconsidering their cryptocurrency positions. **Bitcoin's Roller Coaster Ride** The cryptocurrency market, known for its volatility, witnessed Bitcoin's price undergoing significant fluctuations recently. A notable event that gave Bitcoin a temporary boost was Grayscale's triumph over the SEC in a legal battle concerning the conversion of its Bitcoin Trust into a spot ETF. This victory led to a rapid 7.88% spike in Bitcoin's price within a mere hour, pushing it from the $26,000 bracket to briefly touch the $28,000 threshold. However, this euphoria was short-lived. Over the subsequent week, the cryptocurrency saw its gains erode, settling in the $25,400 range. At the time the reference article was penned, Bitcoin was hovering around $25,688. **Anticipation Surrounding the 2024 Halving Event** The Bitcoin community is abuzz with anticipation for the next scheduled Bitcoin halving, projected to take place in April-May 2024. This event will see the rewards for Bitcoin miners being slashed by half, resulting in a decreased supply of Bitcoin entering the market. Historically, such halvings have acted as catalysts, propelling Bitcoin's price upwards. A case in point is the aftermath of the 2020 halving, post which Bitcoin soared to an all-time high of $69,000 in October 2021. However, some financial analysts argue that this surge was less about the halving and more a consequence of the extensive monetary measures adopted by institutions like the US Federal Reserve. These measures, taken in response to the pandemic and the ensuing lockdowns, flooded the market with cash, potentially driving up Bitcoin's price. **The Broader Crypto Landscape** While Bitcoin remains the most dominant and influential cryptocurrency, it's essential to consider its position within the broader crypto ecosystem. Other cryptocurrencies, often referred to as 'altcoins', also play a role in shaping investor sentiment and market dynamics. Factors such as technological advancements, regulatory changes, and global economic shifts not only impact Bitcoin but the entire crypto market. As investors diversify their portfolios and explore newer blockchain projects, Bitcoin's role as the market leader is continually tested. Yet, its pioneering status and proven resilience make it a focal point of discussions and analyses in the crypto world. **Conclusion** Bitcoin, the flagship cryptocurrency, has always been subject to a myriad of market forces and global events. While its inherent potential remains undeniable, the current market landscape, shaped by factors ranging from oil prices to global economic policies, presents challenges. Yet, with events like the 2024 halving on the horizon, there's an air of optimism among Bitcoin enthusiasts and investors about the future trajectory of this digital asset. **FAQ** **Who is Max Keiser?** Max Keiser is a prominent Bitcoin advocate, former trader, and well-known crypto podcaster. **What did Keiser say about Bitcoin's price?** Keiser pointed out that rising global oil prices and the allure of higher interest deposit USD accounts are creating a "small headwind" for Bitcoin. **How did Grayscale's legal victory affect Bitcoin?** Grayscale's win over the SEC led to a 7.88% spike in Bitcoin's price within an hour. **When is the next Bitcoin halving expected?** The next Bitcoin halving is projected to occur around April-May 2024. **Did the 2020 Bitcoin halving influence its price?** Yes, post the 2020 halving, Bitcoin reached an all-time high of $69,000 in October 2021. **That's all for today** **If you want more, be sure to follow us on:** **NOSTR: croxroad@getalby.com** **X: [@croxroadnews](https://x.com/croxroadnewsco)** **Instagram: [@croxroadnews.co](https://www.instagram.com/croxroadnews.co/)** **Youtube: [@croxroadnews](https://www.youtube.com/@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.*

@ dd664d5e:5633d319

## The paparazzi are we  One of the things that bothers me about social media, in general, is that it gives celebrities an air of approachability, that they don't actually offer. Theoretically, a celebrity could respond to any one of the dozens or even hundreds of people asking them questions or lodging complaints or singing their praises, but they usually only respond very selectively and leave everyone else just sitting there, as a living monument to the ReplyGuy. And, as a wise man once said, ReplyGuy is a hoe.  ## Death of a ReplyGuy This is usually because of time and energy restrictions, but also due to distaste, disdain, or indifference. Regardless of motivation, it is simply the nature of things, when a larger number of people are clamboring for the attention of some particular person. > Ooh, ooh! Can I have the next question?! > Would you please address my bug? > May I have a microsecond of your time?  Social media (and I include GitHub in this category) ups this game considerably, and potentially turns it all into a dangerous psychological torture, by making us all preoccupied with people who don't interact with us. The most irrational of groupies because we are forever making almost-contact with our stars. If we can see them talking to _one_ person, we're supposed to feel like they've spoken with _all_ of us. But they haven't. They spoke with someone else, and we were allowed to watch. No different than on television, except that we might be disappointed and eager to return the next day, to renew our futile attempt. The same intoxicating feeling that playing the lottery elicits. Everyone is a _potential_ winner, but there is only one jackpot. Come back next week. Buy another ticket. This next time, is your time. Promise. ## The view from the peanut gallery  It is all an illusion that there is no hierarchy, where there clearly is one. Celebrities of the past had, at least, the decency to remain slightly aloof. But they all want to be one of the Common Folk, now, just as every multi-millionaire aspires to see himself as fundamentally working-class.  All of celebrity social media is a stage, and most of us are merely spectators or commentators, to what is playing on it. This is why, if someone treats me like someone sitting in the peanut gallery, my instinct is to treat them like an actor. Because, in reality, that is what they are.

@ b17fccdf:b7211155

A step-by-step guide to building a Bitcoin & Lightning node, and other stuff on a **personal computer**. ~ > It builds on a personal computer with **x86/amd64** architecture processors. ~> It is based on the popular [RaspiBolt v3](https://raspibolt.org) guide. --- **Those are some of the most relevant changes:** * Changed OS from Raspberry Pi OS Lite (64-bits) to ***Ubuntu Server LTS*** (Long term support) 64-bit PC (AMD64). * Changed binaries and signatures of the programs to adapt them to ***x86/amd64 architecture***. * Deleted unnecessary tools and steps, and added others according to this case of use. * Some useful authentication logs and monitoring commands were added in the security section. * Added some interesting parameters in the settings of some services to activate and take advantage of new features. * Changed I2P, Fulcrum, and ThunderHub guides, to be part of the core guide. * Added exclusive optimization section of services for slow devices. ~ > Complete release notes MiniBolt v1: [https://github.com/twofaktor/minibolt/releases/tag/1.0](https://github.com/twofaktor/minibolt/releases/tag/1.0) ~ > The [MiniBolt](https://minibolt.info) guide is available at: [https://minibolt.info](https://minibolt.info) ~ > Feel free to contribute to the [source code on GitHub](https://github.com/minibolt-guide/minibolt) by opening [issues](https://github.com/minibolt-guide/minibolt/issues), [pull requests](https://github.com/minibolt-guide/minibolt/pulls) or [discussions](https://github.com/orgs/minibolt-guide/discussions) --- Created by [⚡2 FakTor⚡](nostr:npub1k9luehc8hg3c0upckdzzvusv66x3zt0eyw7290kclrpsndepz92sfcpp63) Telegram groups: * [English](https://t.me/minibolt) * [Spanish](https://t.me/minibolt_es)

@ ebdee929:513adbad

Blue light is not inherently bad, just bad in the wrong context. Blue light provides wakefulness, stimulation, and sets our internal body clock (circadian rhythm). When we go outside in the sun, we get bathed in blue lightblue light is not inherently bad, just bad in the wrong context. [Blue light sets the human rhythm.](https://pmc.ncbi.nlm.nih.gov/articles/PMC7065627/) However, sunlight never gives us blue light without the rest of the visible rainbow + infrared. Light from screens & LED bulbs do not contain any infrared, and has a unnaturally high proportion of blue light. LEDs = unbalanced & blue light dominant <img src="https://blossom.primal.net/1e1e1eeb73e25798e74263e65bf41d24f70ef09cd02f1268c432cd7e57045c24.jpg"> Light from artificial sources is especially disruptive at night time, where the high blue light component can interfere with melatonin production and sleep quality at a greater rate than lower energy colors of light. [Blue Light has a Dark Side](https://www.health.harvard.edu/staying-healthy/blue-light-has-a-dark-side) This doesn't mean that red light is completely innocent of disrupting sleep either It is both the spectrum of light AND the intensity of light that contributes to sleep disruption. [See this tweet from Huberman](https://x.com/hubermanlab/status/1846995497824714807). <img src="https://blossom.primal.net/dd8227d6ad0b3f0fd0de371e117b8fff688744584fc6191d0c86b780889eb685.jpg"> We took all of this into account when building the DC-1 to be the world's first blue light free computer. The DC-1 has a reflective screen that: • emits ZERO light during the day • can be used easily outside in direct sunlight <img src="https://blossom.primal.net/492bd01872e10a53ebfaa9ed4d4c72d7a835943af347a9b7fa3173b9eae536c4.jpg"> & a backlight that: • can be 100% blue light free • has a broad spectrum of light • can be seen at very low brightness <img src="https://blossom.primal.net/783eb85af21270d412957bd7ea81297edbfaca444e3fcb21eb9d2bde6465a88b.jpg"> Our Live Paper™ display technology feels like a magic piece of paper During the day, that piece of paper is illuminated by sunlight. At night, that piece of paper is illuminated by *candle* light. (backlight is converging with a candle light spectrum) <img src="https://blossom.primal.net/e153f8e937438a31c8a1cc7e4db63d937f52c3c1667557a7e7a1459bb7464a7c.jpg"> The two sources of natural light are sunlight & fire. We are trying to reproduce this experience for the most enjoyable, healthy, and least invasive technology experience for humanity. Root cause problem solving by emulating nature. "But can't I just put a red light screen filter on my MacBook?" Absolutely you can, and we advocate for it Software screen filters are great, but anyone who has changed their screen to full “red mode” to get rid of the blue light knows the downsides to this… <img src="https://blossom.primal.net/3cb41edfa65978e8badb8555eb4448909328ce189efe270eddfd50f2eba6c40e.jpg"> You can barely see anything and you end up having to crank up the brightness in order to see any contrast. This is because of the highly isolated nature of LED emissive screens, you can only isolate a very narrow band of colors. Going full red is not something your eyes have ever been used to seeing. You need a broad spectrum light solution, and that is what we have in our **amber backlight** while still being blue light free. This means you can have a better visual experience, turn down the brightness, and get minimal sleep/circadian disruption. **What about FLICKER?** Nearly all LEDs flicker. Especially when changing in brightness due to Pulsed Width Modulation (PWM) LED driver control Our LED backlight uses DC dimming & is expert verified flicker-free. This can only be achieved through hardware changes, not software screen filters. <img src="https://blossom.primal.net/cb756be06d8b154babecd10dece422076410f67adb904b658fce2cc271e4ba2f.jpg"> **& Blue Light Blocking Glasses?** They need to be tinted orange/red to block all of the blue light. Thus the same issues as screen filters (bad visual experience, not solving flicker) + average joe would never wear them. We still love blue blockers, they just aren't a **root cause** solution. We made a computer that is healthier and less stimulating, with a low barrier to entry Whether you are a staunch circadian health advocate or just like the warm vibes of amber mode and being outside...the DC-1 just feels good because it doesn't make you feel bad :) Learn more [here](https://daylightcomputer.com) and thanks for reading.

@ a012dc82:6458a70d

**Table Of Content** - The Nikkei 225: A Comprehensive Overview - Bitcoin's Meteoric Rise: A Journey of Peaks and Valleys - Drawing Parallels: Bitcoin and Nikkei's Path of Resilience - Conclusions - FAQ The financial world is vast and diverse, with assets ranging from traditional stocks to the more recent phenomenon of cryptocurrencies. Among these, Bitcoin stands out as the pioneering digital currency, often drawing comparisons with various stock indices. One such intriguing comparison is with Japan's Nikkei 225. **The Nikkei 225: A Comprehensive Overview** The Nikkei 225, commonly known as the Nikkei, stands as one of the primary stock market indices representing the Tokyo Stock Exchange. Established in 1950, it comprises 225 of the most prominent companies listed on the exchange, making it a significant barometer of the Japanese economy's overall health. Over the decades, the Nikkei has witnessed various economic cycles, from booms to recessions. Its performance often mirrors the broader economic and business trends in Japan. The recent achievement in June, where the Nikkei touched a 33-year high, is not just a numerical milestone. It symbolizes the enduring nature of the Japanese market, its ability to recover from setbacks, and the confidence of investors in the country's economic prospects. **Bitcoin's Meteoric Rise: A Journey of Peaks and Valleys** Bitcoin, introduced in 2009 by an anonymous entity known as Satoshi Nakamoto, revolutionized the concept of currency. As the world's first decentralized digital currency, Bitcoin operates without a central authority, making it inherently resistant to government interference or manipulation. Over the years, Bitcoin's journey has been nothing short of a roller coaster. From being an obscure digital asset to becoming a household name, its value has seen dramatic surges and equally sharp declines. This volatility often becomes a hotbed for speculations, predictions, and intense debates among financial experts. A recent statement by an analyst, suggesting that Bitcoin's trajectory might align with that of the Nikkei, has added fuel to these discussions. The implication here is that Bitcoin, despite its volatile nature, has the potential to reach unprecedented highs, much like the Nikkei did after its long journey. **Drawing Parallels: Bitcoin and Nikkei's Path of Resilience** At an initial glance, comparing a traditional stock market index like the Nikkei to a modern digital asset like Bitcoin might seem like comparing apples to oranges. However, when delving deeper, certain similarities emerge. Both Bitcoin and the Nikkei have demonstrated remarkable resilience. The Nikkei, representing Japan's economic might, has bounced back from economic crises, natural disasters, and global downturns. Similarly, Bitcoin, despite facing regulatory challenges, technological hurdles, and market skepticism, has managed to not only survive but thrive. The adaptability of both these assets is noteworthy. While the Nikkei reflects the evolving nature of the Japanese economy and its industries, Bitcoin showcases the world's shifting attitude towards decentralized finance and digital assets. The recent prediction by the analyst, suggesting a potential parallel growth pattern, underscores the idea that both traditional and modern financial instruments can coexist, learn from each other, and potentially follow similar trajectories of success. **Conclusion** A Convergence of Old and New The financial landscape is ever-evolving, with traditional and modern assets often intersecting in unexpected ways. The comparison between Bitcoin and the Nikkei 225 serves as a testament to this. As Bitcoin continues its journey in the financial realm, only time will tell if it truly follows the path of the Nikkei to new record highs. **FAQ** **What is the Nikkei 225?** The Nikkei 225 is a primary stock market index representing the Tokyo Stock Exchange, showcasing the health of the Japanese economy. **How is Bitcoin related to the Nikkei 225?** An analyst recently predicted that Bitcoin's growth trajectory might align with that of the Nikkei, hinting at potential record highs for the cryptocurrency. **Has the Nikkei 225 reached any significant milestones recently?** Yes, in June, the Nikkei achieved a 33-year high, reflecting the resilience of the Japanese market. **Why is Bitcoin's growth compared to the Nikkei's?** Both Bitcoin and the Nikkei have shown adaptability and resilience in changing market dynamics, leading to speculations of similar growth patterns. **Is Bitcoin expected to reach new highs?** While predictions vary, some analysts believe Bitcoin might emulate the Nikkei's success and reach new record highs. **That's all for today** **If you want more, be sure to follow us on:** **NOSTR: croxroad@getalby.com** **X: [@croxroadnews](https://x.com/croxroadnewsco)** **Instagram: [@croxroadnews.co](https://www.instagram.com/croxroadnews.co/)** **Youtube: [@croxroadnews](https://www.youtube.com/@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.*

@ a80fc4a7:dc80ebd1

test

@ acbcec47:dd305bec

## Prepare starter - 1 part starter (~30g) - 2 parts wholemeal rye flour (~60g) - 2 parts warm water (~60g) Stir well, then leave to stand warm and covered until the volume has almost doubled.  Once the starter has doubled in volume and a light cap has formed, it can be used for the dough.  ## Ingredients - Flour (2/3 550/1100 wheat flour, 1/3 997 rye flour) = 600g - Water: 60% of the flour quantity = 360g warm water - Starter: 20% of the flour quantity = 120g starter - Salt: 3% of the flour = 18g  Put the rest of the starter (about 30g) back in the fridge for the next batch. Knead everything well for 5 minutes, then leave to stand warm and covered.  ## Fermenting First fermenting phase in one piece until the volume has almost doubled.  Then divide into portions ...   Shape and leave to rise on the baking tray for 1-2 hours.   ## Baking - Preheat oven to 230°C (450°F) - Just before baking, cut in the top of the rolls with a razor blade, so that they can extend  - Bake for 20 min with steam/cover at 210°C (410°F) - Then remove the steam/cover and bake another 15-20 min at 180°C (360°F)  Enjoy ...  

@ a012dc82:6458a70d

**Table Of Content** - TwelveFold: A Fusion of Art and Blockchain - The Cipher Puzzle Series: A Test of Wit - The Mechanics: How to Participate - Competition Rules and Details - Conclusions - FAQ The Bored Ape Yacht Club, a name that resonates deeply within the NFT community, is expanding its horizons. Venturing beyond their typical domain, they have introduced a captivating puzzle-solving competition. This isn't just any competition; it's an opportunity for enthusiasts to engage, challenge their intellect, and stand a chance to win Bitcoin rewards, merging the worlds of crypto and gaming in an exciting new way. **TwelveFold: A Fusion of Art and Blockchain** Behind the Bored Ape Yacht Club is Yuga Labs, an innovative creator that never ceases to surprise. Their latest creation, the TwelveFold collection, is a series of 300 generative art pieces. But what sets TwelveFold apart is its foundation on the Ordinals protocol. This groundbreaking protocol allows for the "inscription" of NFT-like artwork directly onto the immutable Bitcoin blockchain. The TwelveFold collection isn't just about art; it's a representation of the intricate dance between time, mathematics, and variability, offering a fresh perspective on the convergence of art and technology. **The Cipher Puzzle Series: A Test of Wit** Inspired by the Bitcoin-centric artwork, Yuga Labs has unveiled a cipher puzzle series that beckons participants from all corners. These aren't your everyday puzzles; they are intricately designed challenges that reflect the core essence and philosophy behind the TwelveFold collection. Every puzzle solved brings participants closer to Bitcoin rewards, making the challenge not just a test of wit but also a potential gateway to crypto riches. **The Mechanics: How to Participate** For 12 consecutive weeks, Yuga Labs will roll out a new "Moon Puzzle". These puzzles, shrouded in mystery and allure, promise a reward of 0.12 Bitcoin for the first solver. But the climax arrives in the 13th week. Instead of another Moon Puzzle, participants are presented with the "Sun Puzzle". The stakes are higher, with the winner being bestowed with one of the coveted TwelveFold Ordinals. These unique art pieces, which are making waves in the Magic Eden secondary marketplace, have a starting price tag of approximately 0.9 BTC. Participation is open to all, irrespective of whether you own a TwelveFold asset. However, a subtle hint from Yuga Labs suggests that asset owners might be in for an exclusive treat. To dive into this challenge, one needs an Ordinals Bitcoin wallet, options include Xverse or Unisat. The process is straightforward: visit the TwelveFold website, pick a puzzle, and let your mind wander into the realms of creativity and logic. Once you believe you've cracked the code, the answer is inscribed on-chain using satoshis, etching its presence forever on the Bitcoin blockchain. **Competition Rules and Details** Every puzzle has room for just one victor. In scenarios where multiple participants arrive at the correct solution simultaneously, the tie-breaker is the inscription number, with preference given to the lower number. Winning isn't just about solving the puzzle; winners must also navigate the formalities, which include filling out requisite tax forms to lay claim to their Bitcoin bounty. **Conclusion** Yuga Labs' TwelveFold challenge is more than just a competition; it's a celebration of art, blockchain, and the spirit of competition. As the crypto community watches with bated breath, participants from across the globe are delving deep into the puzzles, each hoping to emerge as the next Bitcoin victor. With the inaugural puzzle already deciphered, the gauntlet has been thrown. The question remains: are you ready to take on the TwelveFold challenge? **FAQ** **What is the TwelveFold Challenge?** It's a puzzle-solving competition by Yuga Labs, offering participants a chance to win Bitcoin rewards. **How long does the challenge last?** The challenge spans 13 weeks, with a new puzzle released each week. **What are the rewards for solving the puzzles?** For the first 12 weeks, winners receive 0.12 Bitcoin. In the 13th week, the prize is one of the TwelveFold Ordinals. **Do I need to own a TwelveFold asset to participate?** No, the challenge is open to everyone. However, TwelveFold asset owners might receive special perks. **How do I submit my puzzle answers?** Answers are inscribed on-chain via satoshis using an Ordinals Bitcoin wallet. **That's all for today** **If you want more, be sure to follow us on:** **NOSTR: croxroad@getalby.com** **X: [@croxroadnews](https://x.com/croxroadnewsco)** **Instagram: [@croxroadnews.co](https://www.instagram.com/croxroadnews.co/)** **Youtube: [@croxroadnews](https://www.youtube.com/@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.*

@ c230edd3:8ad4a712

Love's worshippers alone can know The thousand mysteries that are his; His blazing torch, his twanging bow, His blooming age are mysteries. A charming science—but the day Were all too short to con it o'er; So take of me this little lay, A sample of its boundless lore. As once, beneath the fragrant shade Of myrtles breathing heaven's own air, The children, Love and Folly, played— A quarrel rose betwixt the pair. Love said the gods should do him right— But Folly vowed to do it then, And struck him, o'er the orbs of sight, So hard, he never saw again. His lovely mother's grief was deep, She called for vengeance on the deed; A beauty does not vainly weep, Nor coldly does a mother plead. A shade came o'er the eternal bliss That fills the dwellers of the skies; Even stony-hearted Nemesis, And Rhadamanthus, wiped their eyes. "Behold," she said, "this lovely boy," While streamed afresh her graceful tears, "Immortal, yet shut out from joy And sunshine, all his future years. The child can never take, you see, A single step without a staff— The harshest punishment would be Too lenient for the crime by half." All said that Love had suffered wrong, And well that wrong should be repaid; Then weighed the public interest long, And long the party's interest weighed. And thus decreed the court above— "Since Love is blind from Folly's blow, Let Folly be the guide of Love, Where'er the boy may choose to go."

@ a4a6b584:1e05b95b

### **Step 1: Secure Your Device** 1. **Install an Antivirus Program** Download and install a trusted antivirus program to scan files for potential malware. - For Linux: [Calm Antivirus](https://www.clamav.net/) - For Windows: [CalmWin Antivirus](https://clamwin.com/) 2. **Install a VPN** A VPN is essential for maintaining privacy and security. It will encrypt your internet traffic and hide your IP address. - Recommended: [Mullvad VPN](https://mullvad.net/), which accepts Bitcoin for anonymous payment. 3. **Install a Torrent Program** You’ll need a torrent client to download files. - Recommended: [Deluge](https://deluge-torrent.org/) 4. **Install the Tor Browser** To access The Pirate Bay or its proxies, you’ll need the privacy-focused [Tor Browser](https://www.torproject.org/). --- ### **Step 2: Prepare Your Setup** - Ensure your **VPN is running and connected**. - Open the **Tor Browser**. - Launch **Deluge** to have your torrent client ready. --- ### **Step 3: Using Tor Go to The Pirate Bay via Onion Service or Find a Trusted Pirate Bay Proxy** Accessing The Pirate Bay directly can be challenging due to restrictions in some regions. Proxy sites often fill the gap. - The Pirate Bay Onion service: http://piratebayo3klnzokct3wt5yyxb2vpebbuyjl7m623iaxmqhsd52coid.onion - Or find a trusted proxy: Use a site like [Pirateproxy](https://github.com/proxyninja/Pirateproxy) or a reliable Tor directory for updated lists. --- ### **Step 4: Search for Linux Distros** 1. On The Pirate Bay, navigate to the **"OtherOS"** category under the **Applications** section. 2. Enter your desired Linux distro in the search bar (e.g., "Ubuntu," "Arch Linux"). --- ### **Step 5: Select a Torrent** 1. **Filter the Results**: - Look for torrents with the **highest seeders (SE)** and the **fewest leechers (LE)**. - Trusted users are marked with a green skull icon—these are usually safe uploads. 2. **Copy the Magnet Link**: - Right-click on the magnet icon next to the trusted torrent and select "Copy Link." --- ### **Step 6: Start the Download** 1. In **Deluge**, paste the copied magnet link into the “Add Torrent” box. 2. Click **OK** to start the download. 3. Monitor the progress until the download completes. --- ### **Step 7: Scan the Downloaded File** Once the file is downloaded: 1. **Scan for viruses**: Right-click the file and use Calm or CalmWin to verify its integrity. 2. If the file passes the scan, it’s ready for use. --- ### **Step 8: Manage Your File** - **Seed or Remove**: - To help the torrent community, keep seeding the file by leaving it in your torrent client. - To stop seeding, right-click the file in Deluge and remove it. - **Move for Long-Term Storage**: Transfer the file to a secure directory for regular use. --- ### **Notes on Safety and Ethics** - **Verify Legitimacy**: Ensure the torrent you are downloading is for an official Linux distribution. Torrents with unusual names or details should be avoided. - **Support the Developers**: Consider visiting the official websites of Linux distros ([Ubuntu](https://ubuntu.com/), [Arch Linux](https://archlinux.org/)) to support their work directly. --- By following these steps, you can safely and privately download Linux distributions while contributing to the open-source community.

@ 16d11430:61640947

For centuries, financial markets have been shackled by an archaic mindset rooted in Newtonian physics: "What goes up must come down." This belief has dominated the thinking of old-school fiat economists, who view the rise and fall of markets as a natural cycle of gravity-bound economics. But Bitcoin, the digital phoenix, was designed to defy this outdated paradigm. It isn't just an asset class or a currency—it's a revolution in financial physics, unshackling value from centralized control and rewriting the rules of money. The Fiat Fallacy: Gravity Economics Fiat systems are inherently cyclical, prone to inflation, manipulation, and collapse. Central banks print money endlessly, causing value to "come down" as purchasing power erodes. For fiat thinkers, this is unavoidable—a gravitational force they accept as immutable. Yet this mindset ignores Bitcoin’s game-changing properties: its hard cap of 21 million coins, decentralized consensus, and permissionless architecture. Bitcoin is fundamentally non-Newtonian. It doesn’t adhere to traditional financial laws because it isn't bound by the same forces of supply and control. Instead, it operates in a new paradigm: deflationary, transparent, and immune to political meddling. Bitcoin's Escape Velocity Bitcoin's dominance lies in its ability to achieve escape velocity. Unlike fiat currencies, which are constantly being pulled back by inflationary policies, Bitcoin is propelled by its scarcity, adoption, and network effects. Every halving event tightens the supply, creating an upward pressure that fiat systems can't replicate. And as global trust in traditional systems erodes, Bitcoin's gravitational pull grows stronger. This phenomenon is evident in the adoption curve. Institutions, governments, and individuals worldwide are recognizing Bitcoin as a superior store of value, an inflation hedge, and the ultimate form of financial sovereignty. The more participants enter the network, the more its value compounds, creating a virtuous cycle of exponential growth. Humiliating the Old Guard The fiat establishment—steeped in centuries of centralized control—has long dismissed Bitcoin as a bubble, a fad, or even a Ponzi scheme. Yet, year after year, Bitcoin rises from the ashes of their predictions. Its resilience, transparency, and provable scarcity expose the fragility and corruption of fiat systems. The ultimate humiliation for fiat thinkers is Bitcoin's ability to thrive in crises. Where traditional systems falter—be it through hyperinflation, bank failures, or geopolitical instability—Bitcoin becomes a lifeboat. It doesn’t just resist gravity; it flips the entire script. Fiat currencies are revealed as infinite-print illusions, while Bitcoin’s immutable ledger stands as the ultimate arbiter of truth and value. A New Financial Paradigm Bitcoin’s ascent is not merely about price; it’s about domination. It represents a shift from centralized control to individual empowerment, from opaque systems to transparent protocols, from inflationary theft to deflationary savings. It’s a financial singularity, an escape from the gravitational pull of outdated thinking. As Bitcoin continues its trajectory, the old world of "what goes up must come down" will look increasingly absurd. In its place, a new principle will reign: what’s decentralized cannot be stopped. Bitcoin isn’t just leaving Earth’s orbit; it’s becoming the financial universe’s North Star. So buckle up, because Bitcoin isn’t just going up—it’s transcending. And as it does, it will leave the Newtonian thinkers in the dust, staring in disbelief at the rocket that left them behind.

@ 79a7270b:d61d9067

Fifteen years after its creation, Bitcoin continues to break paradigms and solidify its role in the global economic landscape. In 2021, El Salvador adopted it as legal tender, marking a significant turning point. Three years later, its acceptance has advanced considerably, with Wall Street embracing Bitcoin ETFs and U.S. political debates focusing on its adoption as a strategic reserve. With its portability, scarcity, accessibility, and liquidity in a 24/7 open market, Bitcoin distinguishes itself as an asset that transcends the limitations of traditional resources like gold and oil. Unlike these assets, which often face logistical challenges and market constraints, Bitcoin’s digital nature allows for seamless global transactions without physical barriers. Its scarcity mirrors that of gold, preserving its value over time, while its accessibility and round-the-clock liquidity make it an appealing choice for investors and policymakers alike. This unique combination of attributes positions Bitcoin as a versatile and strategic tool, increasingly relevant to advancing national interests in a rapidly digitizing world. The expansion of the BRICS block, whose combined GDP now surpasses that of the G7, has heightened pressures on Western hegemony. These countries are exploring Bitcoin as a neutral and government-independent currency. They are considering denominating international transactions in Bitcoin as part of their broader goal: to create a de-dollarized, independent financial system resilient to Western-imposed sanctions. Game theory sheds light on how Bitcoin adoption creates powerful incentives for nations. If the BRICS use Bitcoin as a strategic asset, Western nations would be compelled to accumulate it to influence the market and counteract sanctions circumvention, making Bitcoin critical for national security. In a scenario where major powers hold Bitcoin, it would be unfeasible to remain competitive without it. This logic extends to Bitcoin mining, the process that validates transactions. By deciding what is confirmed, nations dominating mining operations gain significant influence over transaction flows. Consequently, Bitcoin-accumulating countries will prioritize investing in domestic mining infrastructure, enhancing the network's decentralization and security. For instance, Russia reportedly funds regional initiatives to develop AI and Bitcoin mining infrastructure within the BRICS framework through its Sovereign Wealth Fund. This dynamic triggers a chain reaction: as one nation adopts Bitcoin, others are pressured to follow suit to avoid competitive disadvantages. This cycle embodies the essence of game theory, where each player's choices shape the strategies of others, positioning Bitcoin as a critical asset in the global geopolitical arena.

@ fd208ee8:0fd927c1

I just read this, and found it enlightening. > Jung... notes that intelligence can be seen as problem solving at an everyday level..., whereas creativity may represent problem solving for less common issues > Other studies have used metaphor creation as a creativity measure instead of divergent thinking and a spectrum of CHC components instead of just g and have found much higher relationships between creativity and intelligence than past studies https://www.mdpi.com/2079-3200/3/3/59 I'm unusually intelligent (Who isn't?), but I'm much more creative, than intelligent, and I think that confuses people. The ability to apply intelligence, to solve completely novel problems, on the fly, is something IQ tests don't even claim to measure. They just claim a correlation. Creativity requires taking wild, mental leaps out into nothingness; simply trusting that your brain will land you safely. And this is why I've been at the forefront of massive innovation, over and over, but never got rich off of it. *I'm a starving autist.* Zaps are the first time I've ever made money directly, for solving novel problems. Companies don't do this because there is a span of time between providing a solution and the solution being implemented, and the person building the implementation (or their boss) receives all the credit for the existence of the solution. At best, you can hope to get pawned off with a small bonus. Nobody can remember who came up with the solution, originally, and that person might not even be there, anymore, and probably never filed a patent, and may have no idea that their idea has even been built. They just run across it, later, in a tech magazine or museum, and say, "Well, will you look at that! Someone actually went and built it! Isn't that nice!" Universities at least had the idea of cementing novel solutions in academic papers, but that: 1) only works if you're an academic, and at a university, 2) is an incredibly slow process, not appropriate for a truly innovative field, 3) leads to manifestations of perverse incentives and biased research frameworks, coming from 'publish or perish' policies. But I think long-form notes and zaps solve for this problem. #Alexandria, especially, is being built to cater to this long-suffering class of chronic underachievers. It leaves a written, public, time-stamped record of *Clever Ideas We Have Had*. Because they are clever, the ideas. And we have had them.

@ a012dc82:6458a70d

**Table Of Content** - Backdrop of the Appeal - The Potential Impact of a Bitcoin ETF - Challenges on the Horizon - The Broader Implications - Conclusions - FAQ Amidst the rapidly evolving landscape of cryptocurrency regulations and financial instruments, Grayscale Investments, a prominent crypto asset manager, has taken a bold step forward. The firm is ardently urging the U.S. Securities and Exchange Commission (SEC) to green-light its proposed exchange-traded fund (ETF) that aims to track Bitcoin, the world's leading cryptocurrency. **Backdrop of the Appeal** The driving force behind Grayscale's proactive appeal to the SEC can be traced back to a landmark court victory they secured against the regulatory body itself. This victory wasn't just a win in legal terms; it symbolized a potential shift in the dynamics between cryptocurrency enterprises and regulatory authorities. Grayscale's triumph in the courtroom not only fortified its standing in the industry but also established a legal precedent. This precedent, while specific to Grayscale's case, has the potential to influence the SEC's perspective and decisions regarding other cryptocurrency-based financial products that may come up for review in the foreseeable future. **The Potential Impact of a Bitcoin ETF** Envision a scenario where a Bitcoin ETF is introduced into the mainstream financial market. Such a development would serve as a transformative bridge, seamlessly connecting the well-established realm of traditional finance with the innovative and ever-evolving domain of cryptocurrencies. The significance of a Bitcoin ETF goes beyond its novelty. It offers investors—both seasoned and novices—a unique opportunity. Instead of navigating the complexities of acquiring and managing Bitcoin directly, they can invest in this ETF, effectively gaining exposure to the cryptocurrency's price fluctuations. This method simplifies the investment process, eliminating the technical intricacies associated with cryptocurrency management. Moreover, the ETF structure brings with it the benefits of regulatory oversight, ensuring that the investment is not only secure but also compliant with established financial norms. This combination of ease, security, and compliance makes a Bitcoin ETF an enticing proposition for a wide spectrum of investors, from individuals to large institutional entities. **Challenges on the Horizon** Grayscale's journey, even after its commendable legal victory, is far from smooth. The path to obtaining the coveted SEC approval for their Bitcoin ETF is strewn with challenges, many of which are deeply rooted in the SEC's historical apprehensions. Over the years, the SEC has consistently showcased a cautious approach when it comes to cryptocurrency-based ETFs. Their hesitance is not without reason. The regulatory body's primary concerns encompass potential market manipulations that could distort the true value of assets, the notorious volatility associated with cryptocurrencies, and the imperative of safeguarding investors from unforeseen risks. These concerns, while valid, are being addressed head-on by Grayscale. The firm remains steadfast in its belief that its proposed Bitcoin ETF not only acknowledges these concerns but also presents solutions to mitigate them. Grayscale's proposal, in their view, lays the groundwork for a Bitcoin ETF that is both secure and operates within the bounds of regulatory standards. **The Broader Implications** The ongoing dialogue between crypto enterprises and regulatory bodies like the SEC is emblematic of the broader challenges and opportunities presented by the integration of cryptocurrencies into mainstream finance. Should the SEC grant its approval to Grayscale's Bitcoin ETF, it could signal a pivotal moment in the crypto industry's journey, heralding greater acceptance and integration of digital assets in global financial markets. **Conclusion** The interplay between Grayscale and the SEC is more than just a singular event; it's indicative of the broader evolution of the financial world in the face of digital disruption. As the crypto industry continues to mature and present structured, secure investment avenues, it's only a matter of time before regulatory bodies, recognizing the potential benefits, become more accommodating. The eventual decision on Grayscale's Bitcoin ETF will undoubtedly have far-reaching implications, not just for the company but for the entire crypto ecosystem. **FAQ** **What is Grayscale Investments?** Grayscale Investments is a leading crypto asset manager. **What has Grayscale recently proposed to the SEC?** Grayscale is urging the SEC to approve its Bitcoin ETF. **Why is Grayscale's recent court victory significant?** The court win strengthens Grayscale's position and could influence future cryptocurrency-based financial products. **What benefits does a Bitcoin ETF offer?** A Bitcoin ETF allows investors to gain exposure to Bitcoin without directly holding the cryptocurrency, providing a streamlined and secure investment experience. **Has the SEC approved any Bitcoin ETFs in the past?** Historically, the SEC has been cautious about approving cryptocurrency-based ETFs due to concerns over market manipulation and investor protection. **That's all for today** **If you want more, be sure to follow us on:** **NOSTR: croxroad@getalby.com** **X: [@croxroadnews](https://x.com/croxroadnewsco)** **Instagram: [@croxroadnews.co](https://www.instagram.com/croxroadnews.co/)** **Youtube: [@croxroadnews](https://www.youtube.com/@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.*

@ c230edd3:8ad4a712

Stand here by my side and turn, I pray, On the lake below, thy gentle eyes; The clouds hang over it, heavy and gray, And dark and silent the water lies; And out of that frozen mist the snow In wavering flakes begins to flow; Flake after flake They sink in the dark and silent lake. See how in a living swarm they come From the chambers beyond that misty veil; Some hover awhile in air, and some Rush prone from the sky like summer hail. All, dropping swiftly or settling slow, Meet, and are still in the depths below; Flake after flake Dissolved in the dark and silent lake. Here delicate snow-stars, out of the cloud, Come floating downward in airy play, Like spangles dropped from the glistening crowd That whiten by night the milky way; There broader and burlier masses fall; The sullen water buries them all– Flake after flake– All drowned in the dark and silent lake. And some, as on tender wings they glide From their chilly birth-cloud, dim and gray, Are joined in their fall, and, side by side, Come clinging along their unsteady way; As friend with friend, or husband with wife, Makes hand in hand the passage of life; Each mated flake Soon sinks in the dark and silent lake. Lo! while we are gazing, in swifter haste Stream down the snows, till the air is white, As, myriads by myriads madly chased, They fling themselves from their shadowy height. The fair, frail creatures of middle sky, What speed they make, with their grave so nigh; Flake after flake, To lie in the dark and silent lake! I see in thy gentle eyes a tear; They turn to me in sorrowful thought; Thou thinkest of friends, the good and dear, Who were for a time, and now are not; Like these fair children of cloud and frost, That glisten a moment and then are lost, Flake after flake– All lost in the dark and silent lake. Yet look again, for the clouds divide; A gleam of blue on the water lies; And far away, on the mountain-side, A sunbeam falls from the opening skies, But the hurrying host that flew between The cloud and the water, no more is seen; Flake after flake, At rest in the dark and silent lake.

@ ee11a5df:b76c4e49

# China ## I might be wrong, but this is how I see it This is a post within a series I am going to call "I might be wrong, but this is how I see it" I have repeatedly found that my understanding of China is quite different from that of many libertarian-minded Americans. And so I make this post to explain how I see it. Maybe you will learn something. Maybe I will learn something. It seems to me that many American's see America as a shining beacon of freedom with a few small problems, and China is an evil communist country spreading communism everywhere. From my perspective, America *was* a shining beacon of freedom that has fallen to being typical in most ways, and which is now acting as a falling empire, and China *was* communist for about a decade, but turned and ran away from that as fast as they could (while not admitting it) and the result is that the US and China are not much different anymore when it comes to free markets. Except they are very different in some other respects. ## China has a big problem China has a big problem. But it is not the communism problem that most Westerners diagnose. I argue that China is no longer communist, it is only communist in name. And that while it is not a beacon of free market principles, it is nearly as free market now as Western nations like Germany and New Zealand are (being somewhat socialist themselves). No, China's real problem is authoritarian one-party rule. And that core problem causes all of the other problems, including its human rights abuses. ## Communism and Socialism Communism and Socialism are bad ideas. I don't want to argue it right here, but most readers will already understand this. The last thing I intend to do with this post is to bolster or defend those bad ideas. If you dear reader hold a candle for socialism, let me know and I can help you extinguish it with a future "I might be wrong, but this is how I see it" installment. Communism is the idea of structuring a society around common ownership of the means of production, distribution, and exchange, and the idea of allocating goods and services based on need. It eliminates the concept of private property, of social classes, ultimately of money and finally of the state itself. Back under Mao in 1958-1962 (The Great Leap Forward), China tried this (in part). Some 50+ million people died. It was an abject failure. But due to China's real problem (authoritarianism, even worship of their leaders), the leading classes never admitted this. And even today they continue to use the word "Communist" for things that aren't communist at all, as a way to save face, and also in opposition to the United States of America and Europe. Authorities are not eager to admit their faults. But this is not just a Chinese fault, it is a fault in human nature that affects all countries. The USA still refuses to admit they assassinated their own president JFK. They do not admit they bombed the Nord Stream pipeline. China defines "socialism with Chinese characteristics" to mean "the leadership of the Communist Party of China". So they still keep the words socialism and communism, but they long ago dropped the meanings of those words. I'm not sure if this is a political ploy against us in the West or not. ### China's Marketplace Today Today China exhibits very few of the properties of communism. They have some common ownership and state enterprises, but not much differently than Western countries (New Zealand owns Air New Zealand and Kiwibank and Kiwirail, etc). And there are private enterprises all over China. They compete and some succeed and some fail. You might hear about a real-estate bank collapsing. China has private property. They have mostly free markets. They have money, and the most definitely have social classes and a very strong state. None of that is inline with what communist thinkers want. Communist thinkers in China moan that China has turned away from communism. Deng Xiaoping who succeeded Mao and attempted to correct the massive mistake, did much when he said "to get rich is glorious." China achieved staggering rates of economic growth. 10% annually on average since 1977. Chinese economic reform started in 1979 and has continued through successive administrations (Deng, Jiang, Hu and now Xi). China is now the world's largest economy (by GDP in PPP terms) since 2016. I was first made aware of China's economic growth by Jim Rogers, an American commodities expert who travelled through China (and the rest of the world from 1990-1992) and in 2007 moved to Singapore where he ensured his daughters learned to speak Mandarin, because Jim knew where the economic growth was going to happen. Jim always spoke positively of China's economic prospects, and his view was so different from the "China is a nasty communist place" view that I had grown up with that my mind opened. How can anybody believe they are still a communist country? In what world does it make sense that communism can produce such a massively booming economy? It doesn't make sense because it is simply wrong. What *does* happen is that the CPC interferes. It lets the market do what markets do, but it interferes where it thinks oversight and regulation would produce a better result. Western nations interfere with their markets too. They have oversight and regulation. In fact some of China's planned reforms had to be put on hold by Xi due to Donald Trump's trade war with China. That's right, they were trying to be even more free market than America, but America's protectionism prodded Xi to keep control so he could fight back efficiently. Government oversight and regulation IMHO is mostly bad because it gets out of control, and there are no market forces to correct this. This gets even more extreme in a one-party system, so I can judge that China's oversight and regulation problems are very likely worse than those in Western nations (but I have no first hand experience or evidence). ## Why do you keep saying CPC? The Communist Party of China (CPC) is the ruling party in China. That is their official name. To call them the CCP is to concede to the idea that the British and Americans get to name everybody. I'm not sure who is right, since CPC or CCP is their "English" name (in Chinese it is 中国共产党 and Westernized it is Zhōngguó Gòngchǎndǎng). Nonetheless, I'll call them CPC because that is their wish. ## Social Credit System China moved from a planned economy to a market economy in stages. They didn't want any more sudden changes (can you blame them?). In the process, many institutions that have existed in the West for a long time didn't exist in China and they had to arise somehow. IMHO market forces would have brought these about in the private sector, but the one-party CP of China instead decided to create these. One of those institutions was a credit score system. In the West we have TransUnion and Equifax that maintain credit ratings on people, and we have S&P, Moody's and Fitch that maintain credit ratings on companies. The domain of these ratings is their financial credit-worthiness. So the People's Bank of China developed a credit information database for it's own needs. The government picked up on the idea and started moving towards a National Credit Management System. In 2004 it became an official goal to establish a credit system compatible with a modern market system. By 2006 banks were required to report on consumer creditworthiness. But unchecked one-party governmental power will often take a good idea (credit worthiness data shared among private parties) and systematize it and apply it top-down, creating a solution and a new problem at the same time. Nonetheless, originally it was about credit worthiness and also criminal convictions. That is no big scary thing that some right-wing American commentators will lead you to believe. In the US for example criminal records are public, so China's Social Credit System started out being no more over-reaching in scope than what Americans have lived under their entire lives, its only fault (a severe one) being centrally planned. And that remained the case up until about 2016 (in my estimation). But of course there is always scope creep. As it exists today, I have reason to believe that CPC officials and even A.I. use judgement calls to score someone on how moral that person has been! Of course that is not a good idea, and IMHO the problem stems from one-party rule, and authoritarian administration of ideas that should instead be handled by the private sector. ## Environmental, Social, and Governance ESG is a system that came out of a couple basic ideas. The first is that many two-party transactions actually have externalities. They don't just affect the two parties, they also affect everybody else. When you fly in an airplane, you increase the CO2 in the atmosphere that everybody has to pay for (eventually). You may dispute that example, but that is no doubt one of the motivations of ESG. But of course the recognition of this basic issue didn't lead all people towards market solutions (well it did, but those have been mostly messed up by others), but instead led many people towards ESG, which is a social credit scoring system which applies scores based on environmental and social side-effects of market transactions. This is not at all the same as China's social credit system, which I described above. I hope you can see the difference. In fact, China imported ESG from the West. Chinese companies, of their free will, in an attempt to court Western capital, achieve ESG goals for those Western investors. They have been playing this ESG game for 20 years just like the entire world has, because the West has imposed this faux-morality upon them. It isn't something China exported to us, it is something we exported to them. ## I think China has avoided Woke-ism My understanding of Chinese people, based on what I've heard many Chinese people say, is that China isn't affected by the Western woke-ism epidemic. They deride Western white woke people with the term "Baizuo". They have never sent an incompetent break dancer to the Olympics because of wok-ism. Competence is highly respected as is the competition to be the most competent, which (when augmented by a one-child policy which is no longer) has produced child prodigies like no other country has. ## What about predatory loans of the Belt and Road initiative? Predatory is an odd name for loans to people in need. The World Bank makes loans to people in need. China does too. China stands in opposition to Western Empire, and in that regard they produce their own alternative BRICS institutions. This is one of them. There is AFAIK nothing more predatory about them. It is just that in some cases the borrowers have trouble paying them back and they get foreclosed upon. I don't think this is worthy of much discussion, except that the term "predatory" seems to me to be a propaganda device. ## What about foreign influence from China? China wants to influence the world, especially its own trading partners and potential trading partners. Doing that above board is fine by me. But some of it is undoubtedly covert. Sometimes Chinese-born people run for public office in Western countries. In New Zealand we stood down some when it became clear they were being influenced too much by the CPC while being charged with representing their local town (dual loyalty issues). If only the USA would do the same thing to their dually-loyal politicians. And all large nations run influence operations. The USA has the CIA, for example, and claims this "soft power" is actually the better alternative to what would otherwise be military intervention (but IMHO shouldn't be either). I'm not defending such operations (I despise them), I'm just explaining how China's position of exerting influence is not only no big deal and totally expected, it pales in comparison to the United States' influence operations which often become military excursions (something China rarely ever does). ## What about the Great Firewall? Yeah, that sucks. Again, single-party authoritarian control gone to extremes. ## What about Human Rights Abuses? What about the Uyghur Genocide? I don't like them. To the extent they are occurring (and I lean towards the belief that they are occurring), I condemn them. China has anti-terrorism and anti-extremism policies that go too far. They end up oppressing and/or criminalizing cultures that aren't Chinese enough. But especially, China punishes dissent. Disagreement with the CPC is the high crime. It is the one-party rule that causes this problem. Anybody who speaks out against the CPC or goes against the state in any way is harshly punished. This happens to Uyghurs, to Falun Gong, to Tibetans, and to any religion that is seen as subversive. Amnesty International and the UN OHCHR have documented issues around the Xinjiang Uyghur autonomous region, Tibet, LGBT rights, death penalty, workers rights, and the Hong Kong special administrative region. I am not about to pretend I know better than they do, but to some extent they go too far. Amnesty International says this about the USA: Discrimination and violence against LGBTI people were widespread and anti-LGBTI legislation increased. Bills were introduced to address reparations regarding slavery and its legacies. Multiple states implemented total bans on abortion or severely limited access to it. Gender-based violence disproportionately affected Indigenous women. Access to the USA for asylum seekers and migrants was still fraught with obstacles, but some nationalities continued to enjoy Temporary Protected Status. Moves were made to restrict the freedom to protest in a number of states. Black people were disproportionately affected by the use of lethal force by police. No progress was made in the abolition of the death penalty, apart from in Washington. Arbitrary and indefinite detention in the US naval base Guantánamo Bay, Cuba, continued. Despite extensive gun violence, no further firearm reform policies were considered, but President Biden did announce the creation of the White House Office of Gun Violence Prevention. The USA continued to use lethal force in countries around the world. Black people, other racialized groups and low-income people bore the brunt of the health impacts of the petrochemical industry, and the use of fossil fuels continued unabated. Amnesty international didn't even point out that the US government quashes free speech via pressure on social media corporations (because Amnesty International is far too lefty). So who is worse, China or the US? I'm not going to make that judgement call, but suffice it to say that in my mind, China is not obviously worse. China violates freedom of expression, association, and assembly of all people. This is bad, and a consequence mainly of one-party rule (again, what I think is the root cause of most of their ills). They arrest, detain, potentially kill anybody who publicly disagrees openly with their government. Clearly this is an excess of authoritarianism, a cancer that is very advanced in China. As to organ harvesting of Uyghur Muslims, I think this is a myth. China has dealt harshly with Muslim extremism. They don't offer freedom of religion to ISIS. And Amnesty International complains about that. But practically speaking you probably shouldn't respect the extremist religion of people who want to force everybody into a global caliphate through threat of violence. As you are well aware, some extremist Muslims (<1% of Islam) believe in using violence to bring about a global caliphate. Those extremists pop up in every country and are usually dealt with harshly. China has had to deal with them too. I have watched two different Western YouTubers travel to Xinjiang province trying to find the oppressed Uyghurs and interview them. They can't find them. What they find instead are Uyghur Muslims doing their prayers five times a day at the local mosque. And also stories that the CPC pitched in some money to help them renovate the mosque. Maybe they were afraid it was a CPC trap and so they wouldn't speak freely. Amnesty International and the UN OHCHR say more than a million are "arbitrarily detained" and I'm not going to argue otherwise. But I'd be more convinced if there were a stream of pictures and news like there is out of Gaza, and it is suspicious that there isn't. ## Conclusion China is more like a Western nation that Westerners realize. Economically, militarily, socially. It still has a very serious obstacle to overcome: one-party rule. I don't think the one-party is going to voluntarily give up power. So most probably at some point in the future there will be a revolution. But in my opinion it won't happen anytime soon. For the most part Chinese people are living high on the hog, getting rich, enjoying the good life, in positive spirits about life, and are getting along with their government quite well at present.

@ b83e6f82:73c27758

## Citrine 0.6.0 - Update dependencies - Show notifications when importing, exporting, downloading events - Change database functions to be suspending functions Download it with [zap.store]( https://zap.store/download), [Obtainium]( https://github.com/ImranR98/Obtainium), [f-droid]( https://f-droid.org/packages/com.greenart7c3.citrine) or download it directly in the [releases page ]( https://github.com/greenart7c3/Citrine/releases/tag/v0.6.0) If you like my work consider making a [donation]( https://greenart7c3.com) ## 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-v0.6.0.txt` and `manifest-v0.6.0.txt.sig` are in the current directory) with: ``` bash gpg --verify manifest-v0.6.0.txt.sig manifest-v0.6.0.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-v0.6.0.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.

@ 16d11430:61640947

At the intersection of philosophy, theology, physics, biology, and finance lies a terrifying truth: the fiat monetary system, in its current form, is not just an economic framework but a silent, relentless force actively working against humanity's survival. It isn't simply a failed financial model—it is a systemic engine of destruction, both externally and within the very core of our biological existence. The Philosophical Void of Fiat Philosophy has long questioned the nature of value and the meaning of human existence. From Socrates to Kant, thinkers have pondered the pursuit of truth, beauty, and virtue. But in the modern age, the fiat system has hijacked this discourse. The notion of "value" in a fiat world is no longer rooted in human potential or natural resources—it is abstracted, manipulated, and controlled by central authorities with the sole purpose of perpetuating their own power. The currency is not a reflection of society’s labor or resources; it is a representation of faith in an authority that, more often than not, breaks that faith with reckless monetary policies and hidden inflation. The fiat system has created a kind of ontological nihilism, where the idea of true value, rooted in work, creativity, and family, is replaced with speculative gambling and short-term gains. This betrayal of human purpose at the systemic level feeds into a philosophical despair: the relentless devaluation of effort, the erosion of trust, and the abandonment of shared human values. In this nihilistic economy, purpose and meaning become increasingly difficult to find, leaving millions to question the very foundation of their existence. Theological Implications: Fiat and the Collapse of the Sacred Religious traditions have long linked moral integrity with the stewardship of resources and the preservation of life. Fiat currency, however, corrupts these foundational beliefs. In the theological narrative of creation, humans are given dominion over the Earth, tasked with nurturing and protecting it for future generations. But the fiat system promotes the exact opposite: it commodifies everything—land, labor, and life—treating them as mere transactions on a ledger. This disrespect for creation is an affront to the divine. In many theologies, creation is meant to be sustained, a delicate balance that mirrors the harmony of the divine order. Fiat systems—by continuously printing money and driving inflation—treat nature and humanity as expendable resources to be exploited for short-term gains, leading to environmental degradation and societal collapse. The creation narrative, in which humans are called to be stewards, is inverted. The fiat system, through its unholy alliance with unrestrained growth and unsustainable debt, is destroying the very creation it should protect. Furthermore, the fiat system drives idolatry of power and wealth. The central banks and corporations that control the money supply have become modern-day gods, their decrees shaping the lives of billions, while the masses are enslaved by debt and inflation. This form of worship isn't overt, but it is profound. It leads to a world where people place their faith not in God or their families, but in the abstract promises of institutions that serve their own interests. Physics and the Infinite Growth Paradox Physics teaches us that the universe is finite—resources, energy, and space are all limited. Yet, the fiat system operates under the delusion of infinite growth. Central banks print money without concern for natural limits, encouraging an economy that assumes unending expansion. This is not only an economic fallacy; it is a physical impossibility. In thermodynamics, the Second Law states that entropy (disorder) increases over time in any closed system. The fiat system operates as if the Earth were an infinite resource pool, perpetually able to expand without consequence. The real world, however, does not bend to these abstract concepts of infinite growth. Resources are finite, ecosystems are fragile, and human capacity is limited. Fiat currency, by promoting unsustainable consumption and growth, accelerates the depletion of resources and the degradation of natural systems that support life itself. Even the financial “growth” driven by fiat policies leads to unsustainable bubbles—inflated stock markets, real estate, and speculative assets that burst and leave ruin in their wake. These crashes aren’t just economic—they have profound biological consequences. The cycles of boom and bust undermine communities, erode social stability, and increase anxiety and depression, all of which affect human health at a biological level. Biology: The Fiat System and the Destruction of Human Health Biologically, the fiat system is a cancerous growth on human society. The constant chase for growth and the devaluation of work leads to chronic stress, which is one of the leading causes of disease in modern society. The strain of living in a system that values speculation over well-being results in a biological feedback loop: rising anxiety, poor mental health, physical diseases like cardiovascular disorders, and a shortening of lifespans. Moreover, the focus on profit and short-term returns creates a biological disconnect between humans and the planet. The fiat system fuels industries that destroy ecosystems, increase pollution, and deplete resources at unsustainable rates. These actions are not just environmentally harmful; they directly harm human biology. The degradation of the environment—whether through toxic chemicals, pollution, or resource extraction—has profound biological effects on human health, causing respiratory diseases, cancers, and neurological disorders. The biological cost of the fiat system is not a distant theory; it is being paid every day by millions in the form of increased health risks, diseases linked to stress, and the growing burden of mental health disorders. The constant uncertainty of an inflation-driven economy exacerbates these conditions, creating a society of individuals whose bodies and minds are under constant strain. We are witnessing a systemic biological unraveling, one in which the very act of living is increasingly fraught with pain, instability, and the looming threat of collapse. Finance as the Final Illusion At the core of the fiat system is a fundamental illusion—that financial growth can occur without any real connection to tangible value. The abstraction of currency, the manipulation of interest rates, and the constant creation of new money hide the underlying truth: the system is built on nothing but faith. When that faith falters, the entire system collapses. This illusion has become so deeply embedded that it now defines the human experience. Work no longer connects to production or creation—it is reduced to a transaction on a spreadsheet, a means to acquire more fiat currency in a world where value is ephemeral and increasingly disconnected from human reality. As we pursue ever-expanding wealth, the fundamental truths of biology—interdependence, sustainability, and balance—are ignored. The fiat system’s abstract financial models serve to disconnect us from the basic realities of life: that we are part of an interconnected world where every action has a reaction, where resources are finite, and where human health, both mental and physical, depends on the stability of our environment and our social systems. The Ultimate Extermination In the end, the fiat system is not just an economic issue; it is a biological, philosophical, theological, and existential threat to the very survival of humanity. It is a force that devalues human effort, encourages environmental destruction, fosters inequality, and creates pain at the core of the human biological condition. It is an economic framework that leads not to prosperity, but to extermination—not just of species, but of the very essence of human well-being. To continue on this path is to accept the slow death of our species, one based not on natural forces, but on our own choice to worship the abstract over the real, the speculative over the tangible. The fiat system isn't just a threat; it is the ultimate self-inflicted wound, a cultural and financial cancer that, if left unchecked, will destroy humanity’s chance for survival and peace.

@ a012dc82:6458a70d

A couple of months ago, one of our guys was at the office talking about his amazing experience in Latvia 15 years ago and, surprise, surprise, thanks to the “magic” of targeting on the internet, we discovered that there was going to be a Bitcoin conference in Riga so… Why not go? We became super excited on that, because this trip was going to represent the return of long haul travelling after the COVID Pan(Scam)demic, plus a huge opportunity of going deeper into the rabbit hole and keep learning about the only real money and meeting like minded people of the community to keep improving our knowledge. So without any doubt, we bought the conference and plane tickets, we booked an airbnb place in the centre of Riga (BTW amazing host), and we started the journey to a couple of days of intense learning. **Table Of Content** - Day1: Spanish meetup at Basement bar - Day2: Layer 2 Day, in a warehouse! - Day3: Conference first session plus afterparty! - Day4: Conference second session and Nostr party! - Day5: Drinking coffee at the airport next to… - Conclusions - FAQ **Day1: Spanish meetup at Basement bar** After arriving in Riga coming from different destinations, we had a bitter sweet sensation: one of our guy’s luggage had been lost by Air Baltic. This didn’t stop our plans, so after making the claim, we jumped into a Bolt (Latvian version of Uber/Grab/Didi) and we headed to our airbnb. The first day had already started with “Noob Day” -basically explaining the basics of Bitcoin- but we weren’t able to make it, so we had a little rest and went to the Spanish Meetup at Basement Bar. Some of our guys speak the language of the FIFA World Champions (Men & Women), so there was a nice opportunity to interact with the Spanish speaking bitcoin community. We thought that was gonna be only drinks and chat but no: one of the organisers “Luna” proposed something interesting: he picked up 4 chairs, but only 3 people were allowed to be seated. The people on the chairs started discussing some topic, and if someone in the audience thought that they had some authority to talk about it, he/she could sit in the empty chair and one of the previous ones would have to stand up. This activity led to some interesting talks, like current situation of bitcoin in spanish speaking region (specially in Argentina where the most likely to be next president Javier Milei seems to be a pro bitcoin political -we will discuss more in other article-), what is going to trigger the massive adoption, and how bitcoin has helped us to understand the world and cope with uncertainty times like the COVID19 lockdowns and restrictions. Of course, during the talk, you were able to buy amazing drinks and local beers…. Using the power of lightning network and paying with SATS! **Day2: Layer 2 Day, in a warehouse!** When we arrived at the venue of the Day 2, we thought we were wrong: from the outside, it was a warehouse that was fully dedicated to collecting donations for Ukraine. But inside the magic was there: a stage, chairs and a projection screen ready to show us how deep the rabbit hole is. The exhibitors were showing multiple applications built for bitcoin layer 2: mostly wallets, and other ones that we barely understood. Even though we understand the tech basis of bitcoin, the exhibitors were at another level of knowledge and we had to do a super huge effort in order to understand a bit of what they were exposing. We really felt like noobs, but this motivated us to learn more: in the upcoming weeks we will be doing more research to understand what they were talking about. In the venue you were able to buy coffee and food… using SATS, and we met the one and only “Bitcoineta”: a van that travels around europe with two argentinians on board, on the quest of educating people about bitcoin. Inside of the ban they have a wall with autographs of the OGs (Michael Saylor signature is there) and also with another sector dedicated to the “Plebs”. The van is fully plotted with bitcoin artwork made by an amazing artist and has slogans like “Bitcoin is Hope”. We learned that this van is a project that started in Argentina, and besides Argentinean and European ones there is another “Bitcoineta” in South Africa. The guys are super friendly and let everyone take pictures of the van. We hope we can release an article about this in the future. We had to leave the meeting early because the luggage of our friend was going to be delivered, plus, that was going to be the only day dedicated to walking around the city, before the real conference started. **Day3: Conference first session plus afterparty!** So finally the “official” conference started on saturday. The venue was amazing. There were 3 stages - **Main stage:** where mainstream topics were presented, with live streaming for all over the world. - **POW stage:** also streamed. On this stage there were live demos of developments like wallets and nostr apps. - **Cypherpunk stage:** here was the place where the most controversial topics were spoken. For that reason this one was not streamed and you were warned not to take photos or videos to respect privacy. If you were caught doing this, you would be escorted out of the venue and banned from Baltic Honeybadger FOREVER! Outside the conference you could find nice food trucks where to buy delicious meals and pay with SATS! All the exhibitions were amazing, but the best ones where: - “The Problem of Bitcoin Midwits”, by Giacomo Zucco, very funny, full of memes to start the day. - “The Financialization of Bitcoin: The Good, the Bad, the Inevitable”, by Dylan Leclair, exposing with analytics the problem of US debt and how Bitcoin is here to change the game - “When 100K?”, a panel with Tuur Deemester, Dylan Leclair, Adam Back, Rahim Taghizadegan. In this panel, Adam Back said that Bitcoin will reach 100k before halving! Also there were amazing chats in the Cypherpunk stage, but respecting the privacy we will not disclose. After the day 1, an amazing afterparty was held in the venue, with open bar, where you can pick up drinks and do networking with other “honeybadgers” **Day4: Conference second session and Nostr party!** Second “official” conference day was another blast. We were also able to explore the venue and to check the exhibitors. Even though there were not too many stands, all of the ones were interesting. Our favourite was the mempool one. Talking about the talks we attend, our favourites of the day were: - ” Bitcoin Empowers Africa and Africans Empower Bitcoin”, by Anita Posch, a super inspiring speech about how Bitcoin is giving hope to unbanked African communities, and how teaching people about Bitcoin can lead to a better world. - ”Building on Nostr”, by Jeff Gardner, literally building a web app to ask questions using Nostr. Really entertaining, because we asked our own questions through the platform. - ”The Hidden Hamster Wheel in your mind”, by Rob Brinded, even though the final was not too clear, showed us interesting things about how our mind sometimes plays against ourselves. - ”The fiat crisis”, by Balaji (remotely), a deep dive into history and how we have arrived at the current crisis. Unfortunately, we were tired and our flight the following morning was too early, so we couldn’t go to the Nostr party **Day5: Drinking coffee at the airport next to…** On the way back home, we were having a coffee at the airport next to the gate before boarding when we saw that next to us had just sat the one and only Adam Back. Incredible how this man (Satoshi Nakamoto maybe?), that probably without other people changed the world and was involved in the genesis of Bitcoin, was walking around with total humbleness and not being recognized by anyone. This is the philosophy of bitcoin: stay humble, stack sats. **Conclusions** Baltic Honeybadger 2023 was a blast, it exceeded our expectations about the conference. The quality of the speakers, the deep topics discussed plus the beauty of Riga made it unique and amazing, and worth the time and money invested. We learned a lot about Bitcoin from the real OGs of the space, knowledge that we will be putting for our readers in our newsletter in the upcoming sessions. If you want to learn about Bitcoin, you need to study and educate yourself, because no school is going to teach about a tool that makes you really free, so the best way is to invest time and money and attend the conferences where the people who know the most about a topic speak! **FAQ** **Is the Baltic Honeybadger hosted every year?** Yes, this conference started a couple of years ago, was stopped because of COVID restrictions and returned in 2022. And we can’t wait to be there again in 2024. **What are the upcoming Bitcoin Conferences?** The biggest Bitcoin events in the upcoming months will be: Bitcoin Indonesia in October (our team is going), Nostrasia in Tokyo and Hong Kong during November (will be mostly about Nostr) and next year in March will be the Bitcoin Conference in Madeira, Portugal (Where CR7 was born, we don’t know if he will attend, but as Messi plays in a team which promotes a shitcoin, he should:p) **Do they talk about other coins?** No way! As it’s stated on their website “Not promoting crypto, various so-called altcoins, tokens and other blockchain-based "snake oil"”. So only and pure bitcoin content by OGs. At the end of the day, there is no second beest. **That's all for today** **If you want more, be sure to follow us on:** **NOSTR: croxroad@getalby.com** **X: [@croxroadnews](https://x.com/croxroadnewsco)** **Instagram: [@croxroadnews.co](https://www.instagram.com/croxroadnews.co/)** **Youtube: [@croxroadnews](https://www.youtube.com/@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.*

@ a367f9eb:0633efea

I’ll admit that I was wrong about Bitcoin. Perhaps in 2013. Definitely 2017. Probably in 2018-2019. And maybe even today. Being wrong about Bitcoin is part of finally understanding it. It will test you, make you question everything, and in the words of BTC educator and privacy advocate [Matt Odell](https://twitter.com/ODELL), “Bitcoin will humble you”. I’ve had my own stumbles on the way. In a very public fashion in 2017, after years of using Bitcoin, trying to start a company with it, using it as my primary exchange vehicle between currencies, and generally being annoying about it at parties, I let out the bear. In an article published in my own literary magazine *Devolution Review* in September 2017, I had a breaking point. The article was titled “[Going Bearish on Bitcoin: Cryptocurrencies are the tulip mania of the 21st century](https://www.devolutionreview.com/bearish-on-bitcoin/)”. It was later republished in *Huffington Post* and across dozens of financial and crypto blogs at the time with another, more appropriate title: “[Bitcoin Has Become About The Payday, Not Its Potential](https://www.huffpost.com/archive/ca/entry/bitcoin-has-become-about-the-payday-not-its-potential_ca_5cd5025de4b07bc72973ec2d)”. As I laid out, my newfound bearishness had little to do with the technology itself or the promise of Bitcoin, and more to do with the cynical industry forming around it: > In the beginning, Bitcoin was something of a revolution to me. The digital currency represented everything from my rebellious youth. > > It was a decentralized, denationalized, and digital currency operating outside the traditional banking and governmental system. It used tools of cryptography and connected buyers and sellers across national borders at minimal transaction costs. > > … > > The 21st-century version (of Tulip mania) has welcomed a plethora of slick consultants, hazy schemes dressed up as investor possibilities, and too much wishy-washy language for anything to really make sense to anyone who wants to use a digital currency to make purchases. While I called out Bitcoin by name at the time, on reflection, I was really talking about the ICO craze, the wishy-washy consultants, and the altcoin ponzis. What I was articulating — without knowing it — was the frame of NgU, or “numbers go up”. Rather than advocating for Bitcoin because of its uncensorability, proof-of-work, or immutability, the common mentality among newbies and the dollar-obsessed was that Bitcoin mattered because its price was a rocket ship. And because Bitcoin was gaining in price, affinity tokens and projects that were imperfect forks of Bitcoin took off as well. The price alone — rather than its qualities — were the reasons why you’d hear Uber drivers, finance bros, or your gym buddy mention Bitcoin. As someone who came to Bitcoin for philosophical reasons, that just sat wrong with me. Maybe I had too many projects thrown in my face, or maybe I was too frustrated with the UX of Bitcoin apps and sites at the time. No matter what, I’ve since learned something. **I was at least somewhat wrong.** My own journey began in early 2011. One of my favorite radio programs, Free Talk Live, began interviewing guests and having discussions on the potential of Bitcoin. They tied it directly to a libertarian vision of the world: free markets, free people, and free banking. That was me, and I was in. Bitcoin was at about $5 back then (NgU). I followed every article I could, talked about it with guests [on my college radio show](https://libertyinexile.wordpress.com/2011/05/09/osamobama_on_the_tubes/), and became a devoted redditor on r/Bitcoin. At that time, at least to my knowledge, there was no possible way to buy Bitcoin where I was living. Very weak. **I was probably wrong. And very wrong for not trying to acquire by mining or otherwise.** The next year, after moving to Florida, Bitcoin was a heavy topic with a friend of mine who shared the same vision (and still does, according to the Celsius bankruptcy documents). We talked about it with passionate leftists at **Occupy Tampa** in 2012, all the while trying to explain the ills of Keynesian central banking, and figuring out how to use Coinbase. I began writing more about Bitcoin in 2013, writing a guide on “[How to Avoid Bank Fees Using Bitcoin](http://thestatelessman.com/2013/06/03/using-bitcoin/),” discussing its [potential legalization in Germany](https://yael.ca/2013/10/01/lagefi-alternative-monetaire-et-legislation-de/), and interviewing Jeremy Hansen, [one of the first political candidates in the U.S. to accept Bitcoin donations](https://yael.ca/2013/12/09/bitcoin-politician-wants-to-upgrade-democracy-in/). Even up until that point, I thought Bitcoin was an interesting protocol for sending and receiving money quickly, and converting it into fiat. The global connectedness of it, plus this cypherpunk mentality divorced from government control was both useful and attractive. I thought it was the perfect go-between. **But I was wrong.** When I gave my [first public speech](https://www.youtube.com/watch?v=CtVypq2f0G4) on Bitcoin in Vienna, Austria in December 2013, I had grown obsessed with Bitcoin’s adoption on dark net markets like Silk Road. My theory, at the time, was the number and price were irrelevant. The tech was interesting, and a novel attempt. It was unlike anything before. But what was happening on the dark net markets, which I viewed as the true free market powered by Bitcoin, was even more interesting. I thought these markets would grow exponentially and anonymous commerce via BTC would become the norm. While the price was irrelevant, it was all about buying and selling goods without permission or license. **Now I understand I was wrong.** Just because Bitcoin was this revolutionary technology that embraced pseudonymity did not mean that all commerce would decentralize as well. It did not mean that anonymous markets were intended to be the most powerful layer in the Bitcoin stack. What I did not even anticipate is something articulated very well by noted Bitcoin OG [Pierre Rochard](https://twitter.com/BitcoinPierre): [Bitcoin as a *savings technology*](https://www.youtube.com/watch?v=BavRqEoaxjI)*.* The ability to maintain long-term savings, practice self-discipline while stacking stats, and embrace a low-time preference was just not something on the mind of the Bitcoiners I knew at the time. Perhaps I was reading into the hype while outwardly opposing it. Or perhaps I wasn’t humble enough to understand the true value proposition that many of us have learned years later. In the years that followed, I bought and sold more times than I can count, and I did everything to integrate it into passion projects. I tried to set up a company using Bitcoin while at my university in Prague. My business model depended on university students being technologically advanced enough to have a mobile wallet, own their keys, and be able to make transactions on a consistent basis. Even though I was surrounded by philosophically aligned people, those who would advance that to actually put Bitcoin into practice were sparse. This is what led me to proclaim that “[Technological Literacy is Doomed](https://www.huffpost.com/archive/ca/entry/technological-literacy-is-doomed_b_12669440)” in 2016. **And I was wrong again.** Indeed, since that time, the UX of Bitcoin-only applications, wallets, and supporting tech has vastly improved and onboarded millions more people than anyone thought possible. The entrepreneurship, coding excellence, and vision offered by Bitcoiners of all stripes have renewed a sense in me that this project is something built for us all — friends and enemies alike. While many of us were likely distracted by flashy and pumpy altcoins over the years (me too, champs), most of us have returned to the Bitcoin stable. Fast forward to today, there are entire ecosystems of creators, activists, and developers who are wholly reliant on the magic of Bitcoin’s protocol for their life and livelihood. The options are endless. The FUD is still present, but real proof of work stands powerfully against those forces. In addition, there are now [dozens of ways to use Bitcoin privately](https://fixthemoney.substack.com/p/not-your-keys-not-your-coins-claiming) — still without custodians or intermediaries — that make it one of the most important assets for global humanity, especially in dictatorships. This is all toward a positive arc of innovation, freedom, and pure independence. Did I see that coming? Absolutely not. Of course, there are probably other shots you’ve missed on Bitcoin. Price predictions (ouch), the short-term inflation hedge, or the amount of institutional investment. While all of these may be erroneous predictions in the short term, we have to realize that Bitcoin is a long arc. It will outlive all of us on the planet, and it will continue in its present form for the next generation. **Being wrong about the evolution of Bitcoin is no fault, and is indeed part of the learning curve to finally understanding it all.** When your family or friends ask you about Bitcoin after your endless sessions explaining market dynamics, nodes, how mining works, and the genius of cryptographic signatures, try to accept that there is still so much we have to learn about this decentralized digital cash. There are still some things you’ve gotten wrong about Bitcoin, and plenty more you’ll underestimate or get wrong in the future. That’s what makes it a beautiful journey. It’s a long road, but one that remains worth it.

@ c69b71dc:426ba763

# **Christ** Consciousness This text invites you to explore the deeper meaning of the winter season and the birth of Christ Consciousness—beyond religion and dogma. It is about inner reflection, spiritual insight, and the connection of body, mind, and soul, inspired by the ancient symbols of light, energy, and consciousness. Here, I highlight how the symbolism that religions and biblical texts often convey in a material sense actually holds a much deeper meaning—one that can help us awaken our life energy and unlock our full potential. Christmas is far more significant than gifts, family, food, and Christmas trees. ## **Winter** Solstice The winter solstice marks a turning point in the annual cycle. On December 21st, the sun reaches its southernmost point, and we experience the longest night of the year. While our physical body feels the need to rest and turn inward, our psychic and astral energies unfold. Especially between December 21st and 25th, everything seems to enter a standby mode, creating space for profound reflection and spiritual renewal. During this darkest time of the year, a kind of inner birth occurs—a birth of the spirit, conceived in the deep silence of the night. It is a moment of introspection, contemplation, and realignment.  ## **The** Twelve Holy Nights: A Time for Retreat and Reflection With the winter solstice, the Twelve Holy Nights (Rauhnächte) begin—a mystical time between the years. These days invite us to turn inward, rest, and connect with our soul. It is a time when physical relaxation and spiritual growth go hand in hand. Advent sets the stage for this phase—each lit candle symbolically represents a chakra, starting with the lower energy centers. By the fourth Advent, the light reaches our heart chakra, a place of love, peace, and connection. ## **Symbolism** Across Different Traditions This energy is also reflected in Judaism: the festival of Hanukkah lasts for eight days, during which a new candle is lit each day. This practice can be seen as a symbolic journey through the chakras, gradually activating and harmonizing them. Hanukkah, the Festival of Lights, stands for the liberation from material and spiritual blockages, the strengthening and activation of energy centers, and the connection to the divine. We learn that there are no separations because we are the divine. ## **The** Sacred Flow of Life: The Claustrum and Inner Alchemy The term "Claustrum," referring to an occult area in the brain, holds deep symbolic and physical significance. The Claustrum is located between the pineal gland and the pituitary gland and secretes a special fluid known as "Christos." This fluid flows through the spinal cord down to the sacrum. The sacrum, derived from the Latin word "sacrum," meaning "sacred," represents this "sacred oil" flow. It symbolizes an inner alchemical process: nourishing the body and soul, enhancing consciousness, and bridging the physical and spiritual realms. `Interestingly, this process is depicted in ancient myths: Santa Claus, or Saint Nicholas, descending the chimney to deliver gifts, can be interpreted as a metaphor for the Claustrum and the flow of sacred essence. The gifts represent the awakened consciousness born from this process.`  ## **The** Journey of Christ Consciousness Christ Consciousness, often symbolized by the birth of Jesus, is understood in spiritual teachings as an internal process. The fluid from the Claustrum reaches the sacrum and then ascends to activate the pineal and pituitary glands, spreading out from there. During this process, it passes through the 33 vertebrae of the spine—a reference to the age of 33 when Jesus was crucified. During the "crucifixion" of this sacred oil, it becomes "suspended" in the region of the thalamus for two to three days before illuminating the pineal and pituitary glands. This process leads to profound spiritual renewal and heightened consciousness, often referred to as the awakening of Kundalini energy. ## Nutrition and Spirituality Our diet has a direct influence on this process. Heavy, fatty, or animal-based foods can energetically dull us and block the flow of the "sacred essence." A light, plant-based diet rich in fresh juices, sprouts, and raw foods supports energy flow and spiritual growth. Animal products, drugs, and excessive fats disrupt the process. Similarly, sexual activity with orgasm during the ascent of the sacred oil interrupts the cycle, causing the sacred energy to be lost. The pineal and pituitary glands, often referred to as the seat of the soul, are associated with the production of "manna" in spiritual traditions—a substance symbolizing milk and honey. This is also linked to Joseph and Mary or the masculine and feminine. The pineal gland secretes a honey-like substance, while the pituitary gland secretes a milk-like substance. The "land flowing with milk and honey" lies within us. We are that land. The process happens within us; there is nothing to seek outside.  ## **The** Birth of Light Within Us In the deepest darkness lies the greatest potential for new life. Through conscious reflection, mindful nutrition, and connection with our body and mind, we can celebrate the birth of light within ourselves—a gift that helps us recognize and live our true potential. ### **Final** Thought I thank you from the bottom of my heart for taking the time to read this piece. My wish is to inspire and encourage you—even amidst the calls of tradition—to carve out time to look inward, just as the natural cycle of life teaches us. It is an invitation to embark on the path of self-discovery, to grow, awaken, and let our inner light shine, ultimately leading to enlightenment. Step by step, day by day, month by month, and year by year, we allow ourselves to be guided by the wisdom of the cycle, unfolding in wondrous ways. I always welcome your feedback, thoughts, and reflections on this topic. Your input is invaluable to me and enriches the process of shared growth. May your cycle be illuminated and filled with love 💛

@ ec42c765:328c0600

この記事は前回の内容を把握している人向けに書いています（特にNostrエクステンション（NIP-07）導入） 前回：[Nostrのカスタム絵文字の使い方](https://yakihonne.com/article/_@lokuyow.github.io/xVMTZxHcV_NWKuTbDBUYs) # 手順 1. 登録する画像を用意する 2. 画像をweb上にアップロードする 3. 絵文字セットに登録する ## 1. 登録する画像を用意する 以下のような方法で用意してください。 * 画像編集ソフト等を使って自分で作成する * 絵文字作成サイトを使う（[絵文字ジェネレーター](https://emoji-gen.ninja/)、[MEGAMOJI](https://zk-phi.github.io/MEGAMOJI/) など） * フリー画像を使う（[いらすとや](https://www.irasutoya.com/) など） ### データ量削減 Nostrでは画像をそのまま表示するクライアントが多いので、データ量が大きな画像をそのまま使うとモバイル通信時などに負担がかかります。 データ量を増やさないためにサイズやファイル形式を変更することをおすすめします。 以下は私のおすすめです。 * サイズ：正方形 128×128 ピクセル、長方形 任意の横幅×128 ピクセル * ファイル形式：webp形式（webp変換おすすめサイト [toimg](https://toimg.kakechimaru.com/to-webp)） * 単色、単純な画像の場合：png形式（webpにするとむしろサイズが大きくなる） ### その他 * 背景透過画像 * ダークモード、ライトモード両方で見やすい色 がおすすめです。 ## 2. 画像をweb上にアップロードする よく分からなければ [emojito](https://emojito.meme/) からのアップロードで問題ないです。 普段使っている画像アップロード先があるならそれでも構いません。 気になる方はアップロード先を適宜選んでください。 既に投稿されたカスタム絵文字の画像に対して - 削除も差し替えもできない → [emojito](https://emojito.meme/) など - 削除できるが差し替えはできない → [Gyazo](https://gyazo.com/)、[nostrcheck.me](https://nostrcheck.me/)など - 削除も差し替えもできる → [GitHub](https://github.com/) 、セルフホスティングなど これらは既にNostr上に投稿されたカスタム絵文字の画像を後から変更できるかどうかを指します。 どの方法でも新しく使われるカスタム絵文字を変更することは可能です。 同一のカスタム絵文字セットに同一のショートコードで別の画像を登録する形で対応できます。 ## 3. 絵文字セットに登録する [emojito](https://emojito.meme/) から登録します。 右上の**アイコン** → **+ New emoji set** から新規の絵文字セットを作成できます。   #### ① 絵文字セット名を入力 基本的にカスタム絵文字はカスタム絵文字セットを作り、ひとまとまりにして登録します。 一度作った絵文字セットに後から絵文字を追加することもできます。 #### ② 画像をアップロードまたは画像URLを入力 emojitoから画像をアップロードする場合、ファイル名に日本語などの2バイト文字が含まれているとアップロードがエラーになるようです。 その場合はファイル名を適当な英数字などに変更してください。 #### ③ 絵文字のショートコードを入力 ショートコードは絵文字を呼び出す時に使用する場合があります。 他のカスタム絵文字と被っても問題ありませんが選択時に複数表示されて支障が出る可能性があります。 他と被りにくく長くなりすぎないショートコードが良いかもしれません。 ショートコードに使えるのは半角の英数字とアンダーバーのみです。 #### ④ 追加 **Add** を押してもまだ作成完了にはなりません。  一度に絵文字を複数登録できます。 最後に右上の **Save** を押すと作成完了です。  画面が切り替わるので、右側の **Options** から **Bookmark** を選択するとそのカスタム絵文字セットを自分で使えるようになります。 既存の絵文字セットを編集するには **Options** から **Edit** を選択します。 以上です。 ----------- # 仕様 [NIP-30 Custom Emoji](https://github.com/nostr-protocol/nips/blob/master/30.md) [NIP-30 カスタム絵文字（和訳）](https://github.com/nostr-jp/nips-ja/blob/main/30.md)

@ 8d34bd24:414be32b

We are in the season of Christmas and busy fulfilling all of our Christmas traditions. We put up Christmas decorations, sing Christmas songs, buy Christmas presents, and plan big Christmas meals, but we are supposed to be celebrating the birth of Christ. We are supposed to be celebrating God made flesh — our Creator becoming His creation to reconcile them to Himself. If you care about your relationship with Jesus, you may wonder, “Are all of these Christmas traditions good or bad?” In most cases, I think the answer is “It depends.” Are you using Christmas traditions to celebrate Jesus and point yourself and others to Him or have the traditions themselves become the focus? Let’s look at some Christmas traditions and see how we might use them to point us to Jesus instead of distracting us from Him. ## Christmas Music > 1And suddenly there appeared with the angel a multitude of the heavenly host praising God and saying, > > “Glory to God in the highest,\ > And on earth peace among men with whom He is pleased.” (Luke 2:13-14) There is a lot of Christmas music to choose from, but some is more honoring to God than others. Do you spend your time listening to songs like “Jingle Bell Rock,” “Grandma Got Run Over By a Reindeer,” “Baby It’s Cold Outside,” or “I Saw Mommy Kissing Santa Claus” or do you spend your time listening to songs like “O Holy Night,” “O Come, O Come Emmanuel,” “Little Town of Bethlehem,” or “Mary Did You Know?” There isn’t anything inherently wrong with the first type, but the second type is much more honoring to Jesus and will focus our minds on what Jesus did for us. By listening to Christmas music that points us to Jesus, we honor Him, refocus our own lives, and point others to Him. When we listen to Christmas music that focuses on Santa, Frosty, Rudolph, or just the season of winter, we distract people from the true meaning of Christmas. Listening to Bing Crosby singing “White Christmas” isn’t a problem (and I enjoy it very much), but focus on the Christmas Carols that point us to Jesus. You won’t regret it. ## Christmas Decorations (Lights) > Then Jesus again spoke to them, saying, “I am the Light of the world; he who follows Me will not walk in the darkness, but will have the Light of life.” (John 8:12) I love Christmas decorations and especially Christmas lights. I’ll admit it. This year we even decided we are going to leave the lights up through January because the lights are so cheerful during the dark part of the year when we spend so much time in darkness. The question we should ask ourselves is “Are we just focused on the decorations and lights or are we focused on Jesus?” Jesus is the Light of the World. He is the light in the darkness. It is appropriate to use lights to celebrate Jesus, but do we focus on the lights or are the lights focusing our thoughts on Jesus? My new Christmas resolution is to remember to thank Jesus for being the light of the world every time I look at the Christmas lights. > Let your light shine before men in such a way that they may see your good works, and glorify your Father who is in heaven. (Matthew 5:16) Are your Christmas decorations things that point to Jesus or things that point to human tradition like Santa, reindeer, Frosty, etc.? We should aim to have more of our decorations point to Jesus. Another thing I’ve noticed is that many of our Christian decorations can even be based on tradition rather than actual Biblical inerrancy. Most nativity sets have 3 wise men. Although this error isn’t something to get legalistic about, it is something to be aware of. > Now after Jesus was born in Bethlehem of Judea in the days of Herod the king, magi from the east arrived in Jerusalem, saying, (Matthew 2:1) Traditionally the magi have been called wise men, but nobody knows 100% who the magi were. They also assume there were 3 of them because of the 3 gifts of gold, frankincense, and myrrh. Based on the uproar that they caused in Jerusalem, it was probably a huge caravan. You’ll also notice that they arrived in Jerusalem “*after Jesus was born in Bethlehem.*” They then consulted King Herod. King Herod consulted the Jewish leaders to figure out that the Messiah was expected to be born in Bethlehem, and then they traveled to Bethlehem to find Jesus. It isn’t clear how long after Jesus’s birth the Magi showed up, but they definitely weren’t there that first Christmas morning. Because of this, my husband sets up our main nativity set (that his parents got in Israel) in our living room and sets up the 3 wise men and the camel in our guest bedroom (on the East side of the house). It is his way of supporting the true Christmas story and not just the traditions of men. Our Christmas tree isn’t just stuff relating to Jesus and the Christmas story. Most of our tree decorations are things for which we are thankful to Jesus. We have ornaments with family pictures. We have handmade ornaments made by the women of our church that were given to us when our house burnt down. We have ornaments from most of the trips we have gone on. We have a few sentimental family ornaments that were given to us when my husband’s mom died. Every time I look at my tree, I am grateful for all of these things. They aren’t just generic decorations. They are memories. I also have an ornament with a picture of my son’s teacher’s autistic son who snuck away and was killed in a blizzard. Every time I see the ornament, I pray for his family who misses him so much. I’d like to think that this tree of blessings is honoring to my God and my Savior. ## Christmas Dinner > For I received from the Lord that which I also delivered to you, that the Lord Jesus in the night in which He was betrayed took bread; and **when He had given thanks**, He broke it and said, “This is My body, which is for you; **do this in remembrance of Me.**” In the same way He took the cup also after supper, saying, “This cup is the new covenant in My blood; **do this, as often as you drink it, in remembrance of Me**.” For a**s often as you eat this bread and drink the cup, you proclaim the Lord’s death until He comes.** (1 Corinthians 11:23-26) {emphasis mine} This passage is about the Passover celebration and Jesus’s command to celebrate the Lord’s Supper in remembrance of Him. I think it is likewise appropriate to celebrate His birth with a meal. As in most things, what makes it honoring to Jesus is how we do Christmas dinner rather than whether we do it or not. The below passage is about celebrating the Lord’s supper in an inappropriate way, but I will try to apply it to Christmas dinner. > Therefore when you meet together, it is not to eat the Lord’s Supper, for in your eating each one takes his own supper first; and one is hungry and another is drunk. What! Do you not have houses in which to eat and drink? Or do you despise the church of God and shame those who have nothing? What shall I say to you? Shall I praise you? In this I will not praise you. (1 Corinthians 11:20-22) Is Christmas dinner just about stuffing ourselves with good food or is it about more? Is it about fellowship with friends and family? Is it about gratefulness for what Jesus did for us? Is it about benefitting others? For most of our marriage, we have alternated celebrating Christmas at my parent’s house and my husband’s parents house, but a couple of times recently, due to different circumstances, we have celebrated Christmas in our own home, and we will be doing it again this year. We’ll celebrate with my family after Christmas, and we celebrated with my husband’s family at Thanksgiving. Our new tradition is to invite some people over to join us for Christmas dinner if we are celebrating at our home. We invite people from our church that are an older couple with no family nearby, a widow, or a single that is not near family. We invite people who would not have much of a celebration on their own. It has been such a blessing being able to bless others who don’t have family, are in financial hardship, or have physical trouble cooking a big meal. Whether you are fellowshipping with family or ministering to those who have less than you, Christmas dinner can definitely be a God honoring part of your Christmas traditions. ## Christmas Presents > Now He who supplies seed to the sower and bread for food will supply and multiply your seed for sowing and increase the harvest of your righteousness; you will be enriched in everything for all liberality, which through us is producing thanksgiving to God. For the ministry of this service is not only fully supplying the needs of the saints, but is also **overflowing through many thanksgivings to God**. Because of the proof given by this ministry, they will glorify God for your obedience to your confession of the gospel of Christ and for the liberality of your contribution to them and to all, while they also, by prayer on your behalf, yearn for you because of the surpassing grace of God in you. **Thanks be to God for His indescribable gift!** (2 Corinthians 9:10-15) {emphasis mine} Too often we can get so obsessed with the buying and receiving of gifts that we forget the greatest gift of all — the gift of our Savior Jesus. My 17 year old son has Down Syndrome. He really likes gifts, especially electronics, like tablets, radios, and phones. Unfortunately, he also isn’t very gentle with them and usually has broken or lost most of them by the time Christmas comes along. This often leads to him obsessing about the gifts that he thinks he deserves. When we celebrated Christmas with my husband’s family at Thanksgiving, he got a nice keyboard that he had requested. He did not, however, get the radio or tablet he wanted. As we were driving home he demanded, “Where is my radio? Where is my tablet? Where is it?” Instead of being grateful for his very generous gift, a gift that he requested, he was upset that he hadn’t gotten everything he wanted. He focused on stuff and not people. He focused on receiving and not giving. He focused on earthly things instead of Jesus. Too often we all do. > But the **free gift** is not like the transgression. For if by the transgression of the one the many died, much more did the grace of God and **the gift by the grace of the one Man, Jesus Christ, abound to the many**. The gift is not like that which came through the one who sinned; for on the one hand the judgment arose from one transgression resulting in condemnation, but on the other hand **the free gift arose from many transgressions resulting in justification**. For if by the transgression of the one, death reigned through the one, much more those who receive the abundance of grace and of the gift of righteousness will reign in life through the One, Jesus Christ. (Romans 5:15-17) {emphasis mine} Just as Jesus gave His life for us, it is good for us to give to others, but we always need to have the gift giving process be focused on Jesus and not the stuff. We always need to be thankful for what we have and receive and not what we don’t have and haven’t received. On Christmas morning, before opening gifts, we always read the Christmas story from Luke 2 and the story of the magi from Matthew 2. We then sing “Happy Birthday” to Jesus, to remind us all of the purpose of Christmas and of the greatest gift we have received. I’m also wanting to start a new tradition at Christmas: Before each person opens a gift, they must thank Jesus for one blessing in their life. I think this will change the focus from greed and getting to gratefulness for what we have already received. > For by grace you have been saved through faith; and that not of yourselves, it is the **gift of God**; not as a result of works, so that no one may boast. For we are His workmanship, **created in Christ Jesus for good works**, which God prepared beforehand so that we would walk in them. For by grace you have been **saved through faith; and that not of yourselves, *it is* the gift of God**; not as a result of works, so that no one may boast. For we are His workmanship, **created in Christ Jesus for good works**, which God prepared beforehand so that we would walk in them. (Ephesians 2:8-9) {emphasis mine} Jesus gave us His all. We also need to consider what we can give to those who can’t give back, just as we can’t ever repay Jesus for what He did for us. Is there a family you know that is having a rough year financially or health wise that you could bless with a meal or gifts or help with bills? Is there a charity that will share the gospel and meet the physical needs of those who are alone, broke, and addicted that you can donate to? Maybe your kids have lots of toys and are about to get more and you can donate some that are in good condition to a Christian charity that can get those toys to kids who won’t receive any. Maybe money is tight, but you could volunteer at a soup kitchen or do some yard chores for a widow. I don’t know your personal circumstances or the circumstances of where you are and those around you, but think about finding some way to bless someone less fortunate than you. > Above all, **keep fervent in your love for one another**, because love covers a multitude of sins. **Be hospitable to one another** without complaint. **As each one has received a special gift, employ it in serving one another** as good stewards of the manifold grace of God. **Whoever speaks, is to do so as one who is speaking the utterances of God**; **whoever serves is to do so as one who is serving by the strength which God supplies**; **so that in all things God may be glorified through Jesus Christ**, to whom belongs the glory and dominion forever and ever. Amen. (1 Peter 4:8-11) {emphasis mine} There are lots of movies, songs, and TV shows that talk about the spirit of Christmas and the love of Christmas. Let’s make sure we show love and share Jesus with the people around us. They tend to be much more open to Jesus during Christmas. Let’s make sure we make the most of Christmas. To God be the Glory! Trust Jesus. *FYI, Because everyone is busy at Christmas, I will be posting my short Wednesday post (Christmas) on Tuesday evening (Christmas Eve) so that people can have time to read the post before Christmas and it will hopefully help you to have the right mindset on Christmas.* #### FYI, to learn more about my books “*Why I Need Jesus*” (available in paperback and ebook) and “*Joy in the Storm*” (in editing and hopefully out in a month or two.) see my [books page](https://trustjesus.substack.com/p/books).

@ 6e468422:15deee93

We didn't hear them land on earth, nor did we see them. The spores were not visible to the naked eye. Like dust particles, they softly fell, unhindered, through our atmosphere, covering the earth. It took us a while to realize that something extraordinary was happening on our planet. In most places, the mushrooms didn't grow at all. The conditions weren't right. In some places—mostly rocky places—they grew large enough to be noticeable. People all over the world posted pictures online. "White eggs," they called them. It took a bit until botanists and mycologists took note. Most didn't realize that we were dealing with a species unknown to us. We aren't sure who sent them. We aren't even sure if there is a "who" behind the spores. But once the first portals opened up, we learned that these mushrooms aren't just a quirk of biology. The portals were small at first—minuscule, even. Like a pinhole camera, we were able to glimpse through, but we couldn't make out much. We were only able to see colors and textures if the conditions were right. We weren't sure what we were looking at. We still don't understand why some mushrooms open up, and some don't. Most don't. What we do know is that they like colder climates and high elevations. What we also know is that the portals don't stay open for long. Like all mushrooms, the flush only lasts for a week or two. When a portal opens, it looks like the mushroom is eating a hole into itself at first. But the hole grows, and what starts as a shimmer behind a grey film turns into a clear picture as the egg ripens. When conditions are right, portals will remain stable for up to three days. Once the fruit withers, the portal closes, and the mushroom decays. The eggs grew bigger year over year. And with it, the portals. Soon enough, the portals were big enough to stick your finger through. And that's when things started to get weird...

@ a012dc82:6458a70d

**Table Of Content** - The Mysterious Unidentified Miners - F2pool: A Titan in the Mining Arena - Other Notable Players - The Evolution of Bitcoin Mining - Conclusion - FAQ Since the dawn of Bitcoin, introduced to the world by the mysterious Satoshi Nakamoto, the decentralized digital currency has been a topic of intrigue and speculation. At the heart of this cryptocurrency lies the process of mining, a complex computational task that validates transactions and adds them to the blockchain. Over the years, various mining pools have emerged, each contributing to the network's security and growth. Among these, two entities stand out: the unidentified miners and the dominant F2pool. This article delves into the enigmatic world of these miners and F2pool's significant role in Bitcoin's mining history. **The Mysterious Unidentified Miners** The Bitcoin blockchain, a transparent ledger of all transactions, has processed over 800,000 blocks since its inception. Interestingly, data from the last 14 years, encompassing 99 different mining pools, reveals that unidentified miners have discovered a staggering 28.37% of the network's total blocks. These miners, shrouded in mystery, include early participants like Satoshi and others who mined Bitcoin during its nascent stages. While the identity of these miners remains unknown, their contribution to the network is undeniable. They've unearthed a cumulative 227,800 blocks, a testament to their early belief in the potential of Bitcoin and their commitment to its growth. **F2pool: A Titan in the Mining Arena** Close on the heels of these unidentified miners is F2pool, a behemoth in the Bitcoin mining world. Since 2009, F2pool has discovered 80,364 blocks, accounting for approximately 10.01% of the total. This impressive feat places F2pool as the leading identified mining pool in Bitcoin's history. Established in 2013, F2pool, also known as DiscusFish, is based in China and has consistently been among the top mining pools in terms of hash rate. Their dominance is not just limited to Bitcoin; they have a significant presence in the mining of other cryptocurrencies like Litecoin, Ethereum, and Zcash. The success of F2pool can be attributed to several factors: - **Infrastructure & Technology:** F2pool has invested heavily in state-of-the-art mining equipment and infrastructure, ensuring optimal performance and minimal downtime. - **Transparency:** Unlike some other mining pools, F2pool offers a transparent fee structure and provides regular updates to its members. - **Community Engagement:** F2pool has fostered a strong community of miners, offering support, educational resources, and fostering a sense of camaraderie among its members. **Other Notable Players** While the unidentified miners and F2pool have been dominant forces, other mining pools have also made significant contributions. Antpool, for instance, ranks third overall, having mined 75,829 blocks or 9.44% of the total. Following them are Btc.com’s mining pool, Braiins Pool, and Viabtc, each with their unique contributions to the network. It's also worth noting the contributions of now-inactive mining pools. Btc Guild, for instance, mined 32,935 blocks before shutting down in 2015. Similarly, Ghash.io, which began its operations in 2013, ceased its activities in 2016 but not before mining 23,083 blocks. **The Evolution of Bitcoin Mining** The world of Bitcoin mining has seen exponential growth. In the early days, the Bitcoin network's hashrate was a mere 948 kilohash per second (KH/s). Fast forward to today, and miners are committing an astounding 387.62 exahash per second (EH/s) to the network. This astronomical increase, amounting to over 40 trillion percent since Bitcoin's inception, underscores the rapid technological advancements and the growing interest in cryptocurrency mining. **Conclusion** The history of Bitcoin mining is a tapestry woven with tales of innovation, determination, and a belief in the transformative power of decentralized digital currencies. The contributions of the enigmatic unidentified miners and the dominance of F2pool stand as testaments to the collective efforts that have fortified the Bitcoin network over the years. As we look to the future, it's essential to acknowledge and appreciate the pioneers and leaders of the past. Their efforts have laid the foundation for a decentralized financial future, and their legacy will undoubtedly influence the generations of miners to come. **FAQ** **Who are the unidentified miners in Bitcoin's history?** They are early participants in the Bitcoin network, including Satoshi Nakamoto, whose identities remain unknown. They've mined approximately 28.37% of all blocks. **What is F2pool's contribution to Bitcoin mining?** F2pool has discovered 80,364 blocks since 2009, making it the leading identified mining pool in Bitcoin's history. **When was F2pool established?** F2pool was established in 2013 and is based in China. **Which mining pool ranks third in Bitcoin's mining history?** Antpool ranks third, having mined 75,829 blocks or 9.44% of the total. **How has the Bitcoin network's hashrate evolved over time?** From an initial hashrate of 948 KH/s, it has grown to a staggering 387.62 EH/s, marking an increase of over 40 trillion percent since its inception. **That's all for today** **If you want more, be sure to follow us on:** **NOSTR: croxroad@getalby.com** **X: [@croxroadnews](https://x.com/croxroadnewsco)** **Instagram: [@croxroadnews.co](https://www.instagram.com/croxroadnews.co/)** **Youtube: [@croxroadnews](https://www.youtube.com/@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.*

@ a012dc82:6458a70d

**Table Of Content** - Bitcoin's Journey: From Obscurity to Global Spotlight - Blockchain: The Backbone of Bitcoin's Success - The Paradox of Bitcoin's Ascendancy - The Intricacies of Secure Bitcoin Storage - The Final Word: Entrusting the Right Guardian - Conclusion - FAQ In the digital age, where innovation is often synonymous with intangibility, Bitcoin stands as a testament to the power of decentralized finance. Born from the vision of a cashless society and the promise of financial autonomy, Bitcoin has rapidly transitioned from a theoretical concept to a tangible asset with profound global implications. However, as with any valuable asset, the question of its safekeeping becomes paramount. As Bitcoin's value skyrockets and its adoption spreads, the challenges associated with securely storing it come to the forefront. This article delves into Bitcoin's journey, the technology underpinning its success, the challenges of its storage, and the importance of entrusting its safety to the right hands. Join us as we crack the code of trust in the world of Bitcoin. **Bitcoin's Journey: From Obscurity to Global Spotlight** Bitcoin has charted an unparalleled trajectory, moving from being a fringe digital experiment to a global financial powerhouse. Its allure isn't just in its monetary value, but in the revolutionary potential it brings to the world of finance. While the market's inherent volatility can be jarring, especially during significant industry events, it's essential to recognize that such fluctuations are typical for pioneering technologies. The dot-com bubble's burst is a testament to this: groundbreaking technologies, despite initial hiccups, have historically showcased enduring value and resilience. **Blockchain: The Backbone of Bitcoin's Success** Bitcoin's rise isn't merely a result of market speculation. At its core, the underlying benefits of blockchain technology have been instrumental. Blockchain's decentralized ledger system offers transparency and security, driving an undeniable upward trend in Bitcoin's value and establishing a foundation for its long-term viability. As Bitcoin's value and global interest surge, the emphasis on its safekeeping becomes increasingly paramount. **The Paradox of Bitcoin's Ascendancy** As Bitcoin continues its meteoric rise, capturing the imagination and investment of people worldwide, its very success presents a paradox. This digital currency, once a niche concept known only to a select few, now finds itself in the global spotlight, and with this heightened attention comes a slew of challenges. The popularity and widespread adoption of Bitcoin have inadvertently made it a prime target for cyber threats and potential malfeasance. As more individuals and institutions flock to the Bitcoin ecosystem, the complexities of ensuring its safety become increasingly intricate. While there are numerous challenges that the Bitcoin community must grapple with, the issue of secure storage stands out. It's not just about protecting one's investment; it's about safeguarding the very integrity and trust that Bitcoin has built over the years. The question then arises: in an age where digital assets are becoming as valuable as physical ones, how do we ensure that Bitcoin remains both accessible and secure? **The Intricacies of Secure Bitcoin Storage** Many individuals are drawn to the Bitcoin realm with trading aspirations, aiming for significant returns. This trend is especially pronounced in developed economies. However, in emerging markets, the allure of a decentralized store of value is tangible. As a result, exchanges have become the primary gateway for many to enter the Bitcoin world. While these platforms are equipped with various security measures and are designed for trading, they often house vast amounts of Bitcoin. The challenge? These platforms, despite their security measures, aren't inherently designed for the long-term, secure storage of Bitcoin. A cursory online search about "Bitcoin exchange hacks" reveals numerous incidents, highlighting the risks of relying solely on exchanges for safeguarding one's Bitcoin assets. **The Final Word: Entrusting the Right Guardian** The essence of the Bitcoin storage dilemma revolves around trust. As the ecosystem continues to evolve, both individuals and institutions must critically assess where and how they store their Bitcoin. The goal is to find a balance between trading accessibility and the security required for long-term holding. In this dynamic landscape, understanding the intricacies of Bitcoin storage and placing trust in the right guardians will be pivotal in ensuring the safety and appreciation of one's Bitcoin investments. **Conclusion** As we stand on the cusp of a financial revolution, Bitcoin's prominence in the global financial landscape is undeniable. Its meteoric rise, underpinned by the robustness of blockchain technology, has reshaped our understanding of value, trust, and decentralization. However, with great value comes the pressing responsibility of protection. The challenges of securely storing Bitcoin are not mere technical hurdles but pivotal concerns that will define its future adoption and integration. As enthusiasts, investors, and guardians of this digital gold, our collective responsibility is to ensure its safekeeping. By understanding the nuances of storage, being vigilant of potential risks, and placing our trust in reliable custodians, we can ensure that Bitcoin's promise is not just preserved but flourishes in the years to come. The journey of Bitcoin is as much about innovation as it is about trust, and as we move forward, it's this trust that will shape its legacy. **FAQ** **Why is secure storage important for Bitcoin?** Given its high value and digital nature, Bitcoin is a target for cyber theft. Secure storage ensures the safety of one's assets against hacks and unauthorized access. **Are exchanges safe for storing Bitcoin?** While exchanges have security measures, they are primarily designed for trading. For long-term storage, dedicated Bitcoin wallets or cold storage solutions are recommended. **What is blockchain in relation to Bitcoin?** Blockchain is the underlying technology of Bitcoin. It's a decentralized ledger system that records all Bitcoin transactions in a transparent and secure manner. **How can I ensure the safety of my Bitcoin investments?** By understanding storage nuances, using secure wallets, regularly updating security protocols, and staying informed about potential risks. **That's all for today** **If you want more, be sure to follow us on:** **NOSTR: croxroad@getalby.com** **X: [@croxroadnews](https://x.com/croxroadnewsco)** **Instagram: [@croxroadnews.co](https://www.instagram.com/croxroadnews.co/)** **Youtube: [@croxroadnews](https://www.youtube.com/@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.*

@ cff1720e:15c7e2b2

<https://youtu.be/dSDm62Hmbf4?feature=shared> \ There is a place where life is simple, people are perfect, and everything is black and white. It's a place that's as far from reality as we can imagine. \ But maybe it's a lot closer than you think!\ \ Wenn Sie in einer Welt leben wollen die nicht schwarz-weiß ist, dann sollten Sie etwas dafür tun, denn das ist nicht selbstverständlich.  &#x20;\ Das Internet ist die vielleicht bedeutendste Innovation der Menschheitsgeschichte. Es war gedacht als globaler Marktplatz für den freien Austausch von Informationen und Dienstleistungen. Heute erleben wir aber die Datensilos von Großkonzernen, eine unerträgliche Flut von Werbung und massive Zensur durch Regierungen und Globalisten. \ \ Millionen von Freiwilligen arbeiten unentwegt daran, dass unser Internet trotzdem noch nicht so aussieht wie in Nordkorea. Sie opfern ihre gesamte Freizeit oder haben sogar den Job dafür aufgegeben, dass die Informationen und der Zugriff darauf frei bleiben. Sie tun das zumeist unentgeltlich da die Projekte unterfinanziert sind. Zahlreiche sind leider deshalb schon gescheitert oder akut in ihrer Existenz bedroht. Sie könnten also Ihre Weihnachtsspende dieses Jahr dahin leiten und somit helfen die Informationsfreiheit zu sichern. Hier ist eine Liste wichtiger Projekte in diesem Bereich, die auch vieles enthält was zur persönlichen Nutzung empfehlenswert ist: \ **Daten** [Internet Archive](https://archive.org/) Das Gedächtnis des Internet (624 Mrd. Seiten)\ [OpenStreetMap](https://www.openstreetmap.org/) Die freie Alternative zu Google Maps\ [OpenRSS](https://openrss.org/) Schluss mit den Silos, alle Artikel in einer App \ [Podcastindex](https://podcastindex.org/) Finden Sie 4.3 Millionen Podcasts in Ihrer App\ [OpenCulture](https://www.openculture.com/) Freie Bücher, Podcasts, Videos, Online-Kurse\ [OpenLibrary](https://openlibrary.org/) Millionen freier Bücher kostenlos online lesen\ [Open Access Journals](https://doaj.org/) 13.634 kostenlose Journale, über 15 Mio. Artikel \ [Creative Commons](https://creativecommons.org/) 55 Mio. Artikel, 490.000 Bilder, 100.000 Kurse \ **Software + Services** [LINUX](https://www.linux.org/) Die freie Alternative zu Windows \ [GrapheneOS](https://grapheneos.org/) Android ohne Google-Tracking \ [F-Droid](https://f-droid.org/) Der Marktplatz für freie OpenSource Android-Apps \ [OpenOffice](https://www.openoffice.org/) Das freie Office mit Daten-Kompatibilität nach ISO \ [NextCloud](https://nextcloud.com/) In der Private Cloud gehören Ihre Daten Ihnen \ [Thunderbird](https://www.thunderbird.net/de/) Der Mail-Client der Outlook vergessen lässt \ [NewPipe](https://newpipe.net/) YouTube ohne Abonnement und Tracking \ [Fountain](https://fountain.fm/) Podcasting 2.0 nach dem value4value-Prinzip \ [PeerTube](https://peertube.tv/) / [Odysee](https://odysee.com/) Alternative YouTube-Plattformen ohne Zensur \ [RethinkDNS](https://rethinkdns.com/) Blocken Sie Malware, Spyware, Ads und Tracker Mindestens ebenso wertvoll wie Spenden, ist die aktive Unterstützung solcher Projekte. Das beginnt mit Nutzung und Weiterempfehlung, Aufbau von Communities, Feedback an die Entwickler, Testing bis hin zu Design und Entwicklung. Gemeinsame Gestaltung unserer Zukunft ist eine überwältigende Erfahrung, ich durfte das dieses Jahr in meinem Lieblingsprojekt **“Pareto”** erleben. Es waren lehrreiche und beglückende Momente, mit einem wunderbaren Team, die mein Bewusstsein nachhaltig verändert haben.  Natürlich freuen auch wir uns auf Ihr Feedback, Ihre Spende oder Ihre aktive Mitwirkung. [https://pareto.space](https://pareto.space/) \ \ *“Sei Du selbst die Veränderung, die Du Dir wünschst für diese Welt."* \ Mahatma Gandhi

@ fd208ee8:0fd927c1

# When the shit just don't work Most open-source software is now so badly written and sloppily-maintained, that it's malware. That's why the governments are getting involved. They try using OS, to save money and improve quality (and to market themselves as "hip"), and then it blows up their system or opens them up to hackers. Now, they're pissed and want support (but the dev with the handle SucksToBeYou has disappeared) or someone to sue, but most OS projects have no identifiable entity behind them. Even well-known anon devs are often groups of anons or accounts that change hands. # The software cracks have moved on There is simply no evidence that OS alone produces higher-quality software. The reason it seemed that way, at the beginning, was because of the caliber of the developers working on the projects, and the limited number of projects. This resulted in experienced people actively reviewing each others' code. OS used to be something the elite engaged in, but it's mostly beginners practicing in public, now. That's why there are now millions of OS projects, happily offered for free, but almost all of them are garbage. The people now building OS usually aren't capable of reviewing other people's code, and they're producing worse products than ChatGPT could. Their software has no customers because it has no market value. # If everything is OS, then nothing is. Another paradigm-changer is that all software is de facto OS, now that we can quickly reverse-engineer code with AI. That means the focus is no longer on OS/not-OS, but on the accountability and reputation of the builders. It is, once again, a question of trust. We have come full-circle.

@ 4c96d763:80c3ee30

# Changes ## William Casarin (7): - ui: make reply description mentions clickable - timeline: auto-add yourself to your home timeline - columns: remove dead code - note: options: streamline bit macro - refactor: move reply_desc into its own file - ui: customizable tabs per column view - column: show pointer button on hover pushed to [notedeck:refs/heads/master](http://git.jb55.com/notedeck/commit/ca988165cc5cdbb0ab23d930b289bd9c85b82793.html)

@ 88cc134b:5ae99079

Well hello again. This article is meant to have enough text and a range of element types so that we can test them all thoroughly. You are not meant to read it. If you are doing so, you need to ask yourself WTF am I doing? Wasting away reading filler content OMG. Still reading? NGMI. Well, good luck to you. # Testing Lists Here are some bullet points to keep an eye on: - Make sure you walk outside barefoot every day. Grounding is good; - Pounding can be good too, depending on the circumstances; - Not gonna go into details here, hopefully you know what I mean. # Emails someone@email.com <someone@email.com> [someone@email.com]() And here are some numbered points: 1. I found that the most impactful habit for my health is 20-4 paleo; 2. The 2nd most important: daily exercise, preferably outside; 3. Getting deep sleep is up there too. Personally, I need 8 hours; 4. If you nail the top 3 items above, you can generally get away with other shit. # Testing Images Now let's look at a beautiful sunrise:  What more do you want? I mean seriously, this article is epic. Better than most. Peace.

@ a012dc82:6458a70d

**Table Of Content** - Who is Michael Burry? - Burry's Recent Move and its Implications - Bitcoin's Recent Performance and Future Prospects - The Broader Economic Context - Conclusion - FAQ In the ever-evolving world of cryptocurrencies, the name Michael Burry might not be the first that comes to mind. However, recent developments have thrust him into the spotlight, making many in the crypto community sit up and take notice. So, what's all the fuss about Michael Burry's stance on Bitcoin's price? **Who is Michael Burry?** For those unfamiliar, Michael Burry is an American investor renowned for his prediction of the 2008 subprime mortgage crisis, which led to a global recession. His foresight and investment strategies during that period were so notable that they were depicted in the movie "The Big Short." **Burry's Recent Move and its Implications** Recently, a filing with the US Securities and Exchanges Commission (SEC) revealed that Scion Asset Management, a firm associated with Burry, has taken a significant bearish position on the US stock markets. Specifically, the firm has placed bets predicting a decline in major stock indices, including the Nasdaq 100 and the S&P 500. The numbers are staggering: $740 million worth of Invesco QQQ Trust Series 1 puts and $900 million worth of S&P 500 puts. These bets constitute about 93% of Burry's total portfolio value. Now, you might wonder, what does this have to do with Bitcoin? The connection lies in the potential ripple effects of these bets. If the US stock market does experience a decline, as Burry seems to anticipate, it could lead to a bullish run for Bitcoin. The reasoning behind this is that traders might view Bitcoin as a high-risk, high-reward investment alternative to traditional stocks. **Bitcoin's Recent Performance and Future Prospects** Bitcoin has been experiencing a prolonged sideways movement, testing the patience of many traders. Historically, such sideways movements in the crypto market have sometimes been followed by a significant jump in value. Additionally, there's growing optimism about the potential approval of a Bitcoin ETF in the coming months, which could further boost its price. **The Broader Economic Context** In understanding Burry's moves and their potential impact on Bitcoin, it's essential to consider the broader economic landscape. The U.S. central bank, the Federal Reserve, is currently in a position where they might not increase the interest rate in the upcoming September FOMC meeting, as gauged by the CME FedWatch Tool. Historically, low-interest rates have often led to increased investment in riskier assets, as investors search for higher returns. This environment could further bolster the appeal of cryptocurrencies like Bitcoin, especially if traditional stock markets become more volatile or start to decline. Furthermore, other global events, such as the US regional bank crisis that erupted earlier in 2023, have shown that Bitcoin can sometimes act as a hedge or alternative investment during times of traditional market stress. As such, the broader economic context, combined with Burry's predictions, paints a fascinating picture for Bitcoin's potential trajectory in the near future. **Conclusion** While Michael Burry's recent moves primarily concern the US stock market, the potential implications for the crypto market, and Bitcoin in particular, are significant. If Burry's predictions come to fruition, and the US stock market sees a decline, it could be a pivotal moment for Bitcoin and its investors. As always, the world of investments is unpredictable, but with big names like Burry making such moves, it's an exciting time for observers and participants alike. **FAQ** **Who is Michael Burry?** Michael Burry is an American investor known for predicting the 2008 subprime mortgage crisis. He was prominently featured in the movie "The Big Short." **What has Burry recently predicted about the US stock market?** Burry's firm, Scion Asset Management, has placed significant bets predicting a decline in major US stock indices, including the Nasdaq 100 and the S&P 500. **How might Burry's predictions affect Bitcoin's price?** If the US stock market declines as Burry anticipates, it could lead to a bullish run for Bitcoin, with traders viewing it as a high-risk, high-reward alternative to stocks. **What is the broader economic context influencing Bitcoin?** The Federal Reserve's potential decision not to increase interest rates, combined with global events like the US regional bank crisis, could influence Bitcoin's appeal as an alternative investment. **That's all for today** **If you want more, be sure to follow us on:** **NOSTR: croxroad@getalby.com** **X: [@croxroadnews](https://x.com/croxroadnewsco)** **Instagram: [@croxroadnews.co](https://www.instagram.com/croxroadnews.co/)** **Youtube: [@croxroadnews](https://www.youtube.com/@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.*

@ d61f3bc5:0da6ef4a

January 2025 will mark two years since we started building Primal. Our goal was to create the best possible user experience for Nostr and make it accessible to everyone. We reached a big milestone towards realizing that vision with the recent Primal 2.0 release. It’s still early days, a lot more work lies ahead, but we thought the timing was right to introduce the Premium tier. Let’s explore what it is, why we built it, what’s included, and how it will evolve moving forward. ## What Primal Premium Is The idea behind Primal Premium is simple: integrate all tools and services required for the best Nostr experience into a single package. For $7 per month, Premium users get a *Primal Name* and *Nostr Tools* built by Primal. We’ll cover those in more detail below, but first we should make a crucial point: by signing up for Premium, you are in no way locked in to Primal. Quite the contrary, you can pick and choose which Premium features you wish to enable and use within other Nostr products. Openness is Nostr’s killer feature. Any product that wishes to truly empower the user needs to interoperate with Nostr’s budding ecosystem. The feed marketplace is a great example. External feeds are first-class citizens within all Primal apps. Primal feeds are available in other Nostr clients. We are working on Premium feeds, which our users will be able to enjoy within Primal or other Nostr apps. Media hosting is another example. Our upcoming support for the Blossom protocol will make Primal Premium media hosting interoperable with other Nostr apps and media hosting services. The common theme here is user choice. Nostr offers the highest level of user agency, and the compounding effect of interoperable products and services is bound to make Nostr immensely powerful. ## Why We Built Premium and Why Now What is unfolding on Nostr right now is unique and special. The first truly self-sovereign network is being bootstrapped by this early cohort of users and builders. People are literally holding the keys to their online presence. Network infrastructure – relays, indexers, media hosting services, etc. – is being stood up organically and without any central planning or coordination. Hundreds of independent projects are adding new capabilities to Nostr without needing permission. The whole thing is truly a sight to behold. In addition to fixing the fundamentals of the network, it is equally important that we fix the broken incentives that plague the legacy Web. The status quo of monetization via advertising, which turns users into products to be farmed, has overstayed its welcome. At Primal, we don’t monetize user data. Our users are our customers. We only make money when the user decides that we are providing a valuable service – and pays for it. That means that our users’ interests are aligned with ours. It allows us to wake up every morning and work all day to make the product better for our users. Some might say that it is too early to try to monetize a Nostr product. We definitely need to be thoughtful about paywalling important features while the network is so young. For example, advanced search is a Primal Premium feature, but we enable it for all users up to 20 search results. That makes it quite usable for anyone on Nostr, but power users get the ability to save these searches and create powerful specialized feeds. It is crucial to have commercially successful projects on Nostr that have their incentives aligned with those of their users. We are working on new features and monetization methods that follow this philosophy. The more we experiment on Nostr, the faster we will learn what works and unlock the full potential of this network. I have a feeling that a lot remains to be discovered, and Primal Premium is just the first step. Now, let’s take a closer look at what is included in Premium: *Primal Name* and *Nostr Tools*. ## Primal Name  A Primal Name is a unique name on the primal.net domain that offers three features: 1. **Verified Nostr address (NIP-05)**. This signals to the Nostr network that your account (npub) has been verified by Primal. Note that we don’t perform identity verification; we are simply signaling that this is a Primal Premium user. Users can pay with sats, preserving their privacy while signaling to the network that this verified account is not a bot. 2. **Friendly Bitcoin Lightning address**. Primal’s built-in hosted wallet creates a randomly generated lightning address for every user. They look like this: bluedog25@primal.net. Premium users get to pick their name, so their lightning address is more personalized (e.g. preston@primal.net). 3. **VIP profile on primal.net**. This is simply a friendly URL to your profile on primal.net. We are working on adding profile customization features for Premium users; stay tuned! In summary, a Primal Name makes you easier to find on Nostr. You are free to use any of these three Primal Name elements as you see fit. If you wish to use your Primal Nostr address and/or Lightning address, simply update your Nostr profile with those entries. ## Nostr Tools  Nostr Tools is a collection of features that we think would be useful to any Nostr power user. We are continuously working on expanding these capabilities, but the initial set of features includes: - **Media management**. Primal Premium comes with 10GB of media storage (compared to 1GB for free accounts). We implemented a slick interface for managing all media you have on Primal. - **Contact list backup**. Many Nostr users have experienced the loss of their contact list (i.e., their follow list) when using different clients. We store the history of the contact list for Primal Premium users and make it easy to recover. - **Content backup**. Nostr users post their content to a collection of public relays. These relays typically don’t offer guarantees that they will store the content for any amount of time. We back up all content posted by Primal Premium users and make it easy to rebroadcast it to the specified relays at any time. ## Primal Legends  The idea for the Primal Legend tier was suggested to me by Gigi a couple of months prior to the launch of Primal 2.0. His argument was simple: “There are users on Nostr who really appreciate Primal and are willing to pay way more than $7 / month to support the project. You should *let them* pay and *recognize them* for doing so.” I am really glad that Gigi convinced me to introduce the Legend tier. Nostr is truly a special place. The early users are extremely passionate and mission driven. They care about growing and improving Nostr as much as the builders do. At first, I thought of the term “Legend” as a bit tongue in cheek, but then I met and chatted with some of these people. Man, they are incredible. They just wish to support the network and the builders of open source software in any way they can. So now I think the term is appropriate. We are humbled by the support we received. Our first Legend supporter was none other than Jack. He found this option in the product and paid for the Legend tier literally an hour after Primal 2.0 was released. Thank you, sir, and thank you to all the other Legends out there! 💜🫂 ## What Comes Next? We are delighted and encouraged by the market response to Primal Premium. It is already clear to us that we are on the right path. We will lean into it even harder from here. There will be MOAR Premium features, while at the same time we will make sure that the free product remains excellent. Since you, the user, are the customer, tell us what you would like to see added to Primal Premium. Pura Vida 🤙

@ 4657dfe8:47934b3e

*Alby Hub enables creation of subaccounts, decentralizing trust and creating usecases for shared, community nodes.* ## Simplifying Bitcoin Wallets for Friends and Family [Alby Hub](https://albyhub.com/?ref=blog.getalby.com) empowers you to take full control of your bitcoin and manage your payments. Through a user-friendly, self-custodial wallet with a one-click lightning node setup, you can effortlessly connect to dozens of applications. The integrated App Store provides access to popular apps like Amethyst, Damus, Stacker News, Podcasting 2.0, and a wide range of other external tools—all directly linked with your Alby Hub wallet. One of the latest and most exciting additions to Alby Hub is the Friends & Family app. With the Friends & Family app, you can create subaccounts for friends and family, all powered by your Hub. In just a few clicks, you can set up wallets for them, giving them a smooth onboarding experience and making bitcoin accessible even to those new to the ecosystem. Think of it as a custodial wallet but with a personal touch—since you’re the one managing it, there’s a direct relationship and trust. These subaccount holders can tap into all the channels and liquidity of your Hub without needing to handle any technical setup. Plus, you can preload their wallets with a few sats, creating a welcoming and smooth experience that’s hard to find elsewhere. And that’s not all. Beyond providing an intuitive wallet, they can get their own lightning address, configurable payment notifications, access to Alby Go (a mobile app for payments on the go), and the Alby Browser Extension for easy web payments. Let’s have a look how to set it up. ## How to provide a wallet to Friends and Family? 1. Open your Hub and find the Friends & Family app in the App Store  2. Enter a name e.g. your friend’s name and click “Create subaccount”  3. Share the Connection Secret with your friend for the different options  Here are two examples how your the new subaccount can be used. ### Alby Go mobile App [Alby Go](https://albygo.com/?ref=blog.getalby.com) makes it easy to carry bitcoin in your pocket. This lightweight wallet connects directly to an Alby Hub subaccount, so your friends can pay and check transactions on the go. **Here’s how to set it up:** 1. Open the Alby Go Mobile App tab in your Hub.  2. Copy the **Connection Secret** and share it with your friend if you cannot onboard them in person. 3. Your friend downloads Alby Go for [Android](https://play.google.com/store/apps/details?id=com.getalby.mobile&ref=blog.getalby.com) or [iOS](https://apps.apple.com/us/app/alby-go/id6471335774?ref=blog.getalby.com) and scans the code. And that’s it—your friend now has a bitcoin wallet in their pocket, ready for seamless transactions anytime, anywhere. 🎉 ## Get a Lightning Address with an Alby account An [Alby Account](https://getalby.com/?ref=blog.getalby.com) offers a variety of useful features that make managing bitcoin payments easy. Among these are a personalized lightning address and email payment notifications—two powerful tools that help your newly onboarded friends stay connected and informed. **To set up an Alby account for someone:** 1. Open the **Alby Account** tab in your Hub. 2. Copy the provided URL and share it with your friend. 3. Your friend simply needs to create their Alby account and afterwards click on the provided URL. That’s it! The wallet is instantly connected, and they’re ready to receive payments to their new lightning address. 🥳 **Onboarding Family & Friends Made Easy** In this article, we explored how to create subaccounts for family and friends, connect them with Alby Go, and set up an Alby account to provide a smooth onboarding experience for your loved ones—all achievable in just a few clicks. Stay tuned as we dive into more exciting use cases for [subaccounts in Alby Hub](https://blog.getalby.com/introducing-subaccounts-in-alby-hub/)! If you have ideas for improvement,[let us know](hello@getalby.com).

@ a012dc82:6458a70d

**Table Of Content** - A New Dawn in Energy and Digital Asset Collaboration - The DEC: A Nexus for Constructive Dialogue - Support from the Corridors of Power - Harnessing the Power of Innovation for a Sustainable Future - Conclusion - FAQ In today's rapidly evolving digital age, the synergy between energy and digital asset mining, especially Bitcoin, is becoming increasingly significant. Enter the Digital Energy Council (DEC), a pioneering organization that has taken the bold step to bridge this gap. **A New Dawn in Energy and Digital Asset Collaboration** The DEC has made its grand entrance as the first member association with a laser focus on the crossroads of energy security and digital asset mining. Their mission? To lead the charge in crafting policies that not only promote responsible energy practices but also bolster the resilience of our energy grids. This is all with the aim of ensuring the United States remains at the forefront of this revolution, safeguarding national security. Tom Mapes, the Founder and President of the Digital Energy Council, highlighted a crucial point. While most discussions around digital assets have revolved around financial services, the potential collaboration between digital asset mining and the energy sector has been somewhat overshadowed. Yet, this collaboration is vital, especially at this crucial juncture of energy transformation. **The DEC: A Nexus for Constructive Dialogue** Envisioning itself as a central hub, the DEC aims to foster meaningful conversations among its members, policymakers, and regulators. One of its primary goals is to clear the air on various misconceptions surrounding digital asset mining, U.S. energy security, and the modernization of our energy grids. Moreover, the DEC is not just about discussions and policies. They're action-oriented. Their initiatives are geared towards spurring economic growth in often-neglected communities, including those in rural areas. How? By creating lucrative job opportunities in markets that haven't traditionally been associated with such roles. **Support from the Corridors of Power** The DEC's efforts haven't gone unnoticed. U.S. Senator Lisa Murkowski, who led the first-ever hearing on the implications of digital asset mining for energy supply back in 2018, is among the first to join hands with the DEC. She emphasized how this burgeoning industry has expanded its footprint across the U.S. over the past five years, bringing fresh opportunities to states like Alaska. Echoing her sentiments, U.S. Senator from Wyoming, Cynthia Lummis, stated that crypto asset mining is poised to play a pivotal role in the financial future of the next generation of Americans. She believes that innovative mining technologies can tap into underutilized energy sources, creating jobs in rural America and generating wealth. **Harnessing the Power of Innovation for a Sustainable Future** The fusion of energy and digital asset mining is not just about economic growth or technological advancement. At its core, it's about sustainability. As the world grapples with the challenges of climate change and energy conservation, the role of organizations like the Digital Energy Council becomes even more paramount. The DEC recognizes the potential of digital asset mining, especially in the realm of Bitcoin, to revolutionize the way we think about energy consumption. By tapping into innovative mining technologies, we can harness underutilized energy sources, reduce wastage, and pave the way for a more sustainable future. Furthermore, the emphasis on rural America is not just about job creation. It's about ensuring that every corner of the nation benefits from this synergy, ensuring a balanced and inclusive growth trajectory. As we move forward, the collaboration between sectors, as championed by the DEC, will be instrumental in shaping a future that's not only prosperous but also sustainable. **Conclusion** The Digital Energy Council is more than just an organization. It's a movement. A movement that seeks to harmonize responsible energy practices with the world of digital asset mining. As we stand on the cusp of a new era, the DEC's efforts promise a brighter future, one where the nation's growth, security, and prosperity are at the heart of every initiative. **FAQs** **What is the Digital Energy Council (DEC)?** The DEC is the first member association focused on the intersection of energy security and digital asset mining. **What is the primary mission of the DEC?** The DEC aims to spearhead policies that promote responsible energy practices, enhance grid resilience, and ensure the competitive edge and national security of the United States. **Why is the synergy between energy and digital asset mining important?** This synergy is crucial for fostering responsible energy practices, bolstering energy infrastructure, and supporting energy sustainability and efficiency. **How does the DEC plan to dispel misconceptions around digital asset mining?** The DEC envisions itself as a hub for facilitating productive discourse among its members, policymakers, and regulators, focusing on themes like U.S. energy security, sustainability, and grid modernization. **That's all for today** **If you want more, be sure to follow us on:** **NOSTR: croxroad@getalby.com** **X: [@croxroadnews](https://x.com/croxroadnewsco)** **Instagram: [@croxroadnews.co](https://www.instagram.com/croxroadnews.co/)** **Youtube: [@croxroadnews](https://www.youtube.com/@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.*

@ 0f286a37:601a59e8

#bitcoin #news I encourage every Bitcoiner to read The Blocksize War. Here are all of the links to all 21 chapters available on the BitMEX blog. 1. [Chapter 1 – First Strike](https://blog.bitmex.com/the-blocksize-war-chapter-1-first-strike/) 2. [Chapter 2 – March To War](https://blog.bitmex.com/the-blocksize-war-chapter-2-march-to-war/) 3. [Chapter 3 – Scaling I - Montreal](https://blog.bitmex.com/the-blocksize-war-chapter-3-scaling-i-montreal/) 4. [Chapter 4 – Scaling II - Hong Kong](https://blog.bitmex.com/the-blocksize-war-chapter-4-scaling-ii-hong-kong/) 5. [Chapter 5 – SegWit](https://blog.bitmex.com/the-blocksize-war-chapter-5-scaling-ii-segwit/) 6. [Chapter 6 – Lightning Network](https://blog.bitmex.com/the-blocksize-war-chapter-6-lightning-network/) 7. [Chapter 7 – Bitcoin Classic](https://blog.bitmex.com/the-blocksize-war-chapter-7-bitcoin-classic/) 8. [Chapter 8 – Hong Kong Roundtable](https://blog.bitmex.com/the-blocksize-war-chapter-8-hong-kong-roundtable/) 9. [Chapter 9 – Faketoshi](https://blog.bitmex.com/the-blocksize-war-chapter-9-faketoshi/) 10. [Chapter 10 – The DAO](https://blog.bitmex.com/the-blocksize-war-chapter-10-the-dao/) 11. [Chapter 11 – Scaling III – Milan](https://blog.bitmex.com/the-blocksize-war-chapter-11-scaling-iii-milan/) 12. [Chapter 12 – Bitcoin Unlimited](https://blog.bitmex.com/the-blocksize-war-chapter-12-bitcoin-unlimited/) 13. [Chapter 13 – Exchanges](https://blog.bitmex.com/the-blocksize-war-chapter-13-exchanges/) 14. [Chapter 14 – ASICBoost](https://blog.bitmex.com/the-blocksize-war-chapter-14-asicboost/) 15. [Chapter 15 – Dragons’ Den](https://blog.bitmex.com/the-blocksize-war-chapter-15-dragons-den/) 16. [Chapter 16 – Litecoin](https://blog.bitmex.com/the-blocksize-war-chapter-16-litecoin/) 17. [Chapter 17 – User-Activated Softfork](https://blog.bitmex.com/the-blocksize-war-chapter-17-user-activated-softfork/) 18. [Chapter 18 – New York Agreement](https://blog.bitmex.com/the-blocksize-war-chapter-18-new-york-agreement/) 19. [Chapter 19 - Bitcoin Cash](https://blog.bitmex.com/the-blocksize-war-chapter-19-bitcoin-cash/) 20. [Chapter 20 - SegWit2x](https://blog.bitmex.com/the-blocksize-war-chapter-20-segwit2x/) 21. [Chapter 21 - Victory] https://blog.bitmex.com/the-blocksize-war-chapter-21-victory/)

@ 1cb14ab3:95d52462

*Originally written in October 2022 (Block: 757258 / USD: $20.1k / SatsDollar: 4961). Refined with slight edits for publishing on Nostr in December 2024 (Block: 875189 / USD: $106k / SatsDollar: 938 ). Banner image property of Hes. My journey down the rabbit hole has only intensified since the time of writing. Enjoy.* --- The Bitcoin time perspective is wild. Reflecting on it has been profoundly eye-opening, and once it has been seen— there is no returning to our prior ways. Ever since venturing down the rabbit hole that we call Bitcoin, I’ve started making significant life decisions and forming nuanced opinions on polarizing topics based on the implications of multi-generational timeframes. Before Bitcoin, I spent money recklessly, leading a fast-paced and impulsive lifestyle. Even in my early days of learning about Bitcoin, I hadn’t fully seen the light. I would still blow the occasional $500 bar tab or buy some flashy gadget I didn’t need. Living in the moment has its merits, but so does considering the time beyond our own lives. Now, I pause before purchases and decisions, always reflecting on how they might impact the future. When your money isn’t constantly being devalued before your eyes, you start seeing the world differently. You begin saving for the future with confidence, knowing that no central authority can endlessly print away your hard-earned time and energy. Inflation doesn’t just erode purchasing power; it steals time. It destroys the hours, days, and years of effort represented by a lifetime of savings. When governments print money to prop up failing banks or fund inefficient ventures, the impact ripples through generations. Those at the bottom of the ladder are hit the hardest, their ability to save and plan for the future undermined by forces beyond their control. Decisions become focused on surviving today instead of thriving tomorrow, leaving little room to consider the long-term implications of our choices. This system creates a mindset where we are incentivized to spend now, instead of save for later—an unnatural phenomenon that most of us have accepted as normal. For individuals who simply want to put away money for a rainy day, inflation is a relentless adversary. A dollar in 1900 has lost over 96% of its value. The countless hours of labor behind those savings have been stolen. Not only did the expansion of money destroy what they could buy, it stole our time and energy. Years of our lives—blood, sweat, and tears—washed away. This isn’t just a historical problem—it’s a recurring one that occurs every decade or so and is accelerating. At an average inflation rate of 3%, the value of cash halves roughly every 23 years. This means that even modest inflation rates gradually diminish purchasing power over time, forcing individuals to chase speculative assets like stocks, real estate, and gold—not because they want to, but because they have no choice. Personal inflation rates differ depending on consumer habits, but a glance at rising prices reveals they often outpace the 2% annual rate reported by the government, which poses a significant problem for individua;s, as highlighted in the table below: <aside> **Inflation Rate (%)** | **Purchasing Power Halving (Years)** - 2% | 35-40 years - 3% | 20-25 years - 4% | 15-20 years - 5% | 10-15 years - 6% | 7-12 years - 7% | 5-10 years - 8% | 4-8 years - 9% | 3-6 years - 10% | 2-5 years </aside> Corporations like McDonald’s understand this. Sitting on a prime corner lot in every major city is far smarter than stacking a pile of cash losing value. Even if the franchise is losing money, the building it operates in is guaranteed to “rise” in value over time. This mindset trickles down to everyday people. To protect themselves, they’re compelled to invest in assets—with real estate being the pinnacle savings instrument of our time. The financial system we’ve accepted as normal turns shelter into an investment vehicle and savings into a gamble. But here’s the irony: real estate is a lousy store of value—which is what we are all truly seeking. Properties require constant maintenance. Without care, assets deteriorate. We’ve all seen abandoned theme parks and overgrown cities. We’ve all dealt with broken pipes and creaky floorboards. Why should saving our hard-earned wealth require us to become housing market experts, landlords, or property managers? Why should we pay financial advisors to manage stock portfolios full of companies whose values or practices we might not even believe in, just to beat inflation? A flawed monetary system inflates bubbles in real estate and stocks, redirecting resources into speculative markets instead of productive investments. Imagine a world where people don’t have to read quarterly earnings reports after a long day of work to ensure their cash retains value. If the incentives driving these bubbles were removed, the financial landscape would dramatically shift. Inflation wouldn’t push people into markets like real estate or zombie companies; instead, they could focus on building or supporting businesses they genuinely care about. They could plan for the long term and make well-thought-out, rational decisions about their future. Bitcoin takes this entire dynamic and flips it on its head. It isn’t a tool for speculation as often misunderstood. It is the best form of saving humanity has ever seen. Unlike fiat currencies, Bitcoin’s fixed supply ensures scarcity, making it a refuge from the erosion of wealth caused by inflation. As weak currencies flow into stronger ones (a concept known as Gresham’s Law), Bitcoin’s role as a store of value becomes clearer. It’s not that Bitcoin has “gone up 19,000%”—it’s that people are exchanging weaker money for stronger money. The implications of a world on a Bitcoin standard extend far beyond monetary policy. It offers something unprecedented: a tool for transferring the value of labor and energy across time and space. Unlike fiat, Bitcoin allows time to be preserved across generations. It isn’t just a hedge against inflation—it reintroduces the idea of saving with confidence, of being able to store wealth in a form of money that cannot be manipulated or devalued. By saving in Bitcoin, individuals are no longer tethered to the uncertainties of fiat systems. The Bitcoin time perspective is about aligning our actions today with the future we want to build tomorrow. It’s about prioritizing long-term impact over short-term gains. When you embrace Bitcoin, you embrace a mindset that values time, energy, and the well-being of future generations. It’s not just a currency; it’s a revolution in thinking that will change you forever. The past, present, and future converge in this new paradigm, offering hope in an otherwise uncertain world. Bitcoin isn’t a bubble; it’s a beacon. --- ### More from Hes: [Art](https://hes.npub.pro/tag/art/) [Store](https://plebeian.market/p/517d6542a081d61ecd8900ad9e2640290e2cf06f516c5e5f3edadfbde446bff4/stall/1db0cdfe0e39c4bd81b903902eeda74e6aa0f0b56e30851f327e6d0c292c5c06) [Travel Guides](https://hes.npub.pro/tag/travel/) [Photography](https://hes.npub.pro/tag/photography)

@ e3ba5e1a:5e433365

## Bio-age 23 years, 8 months "I remember when I left on my journey. It feels like a thousand years ago now." The line, as usual, was met with polite chuckles. Taryn had been hearing such comments from his parents his whole life. *Ugh. So cliche. Why does he have to embarrass me, now of all times?* Taryn thought. "Journey isn't just about adventure. It's about growth. About knowledge. About meeting and learning from others. Not everyone is cut out for it." At this point, Kaelin paused. He looked Taryn directly in the eye. *Is he crying?* Taryn worried. *Please, let's just get through this.* Kaelin reached down to the table, carefully picked up his glass, and held it aloft. "To my eldest son, Taryn. I'm so proud that you've decided to go on a Journey as well. We're going to miss you. Godspeed!" With that, all the assembled guests, all of Taryn's friends and family, virtually everyone who meant anything to him, raised their glasses in unison and toasted his successful Journey. --- The next morning was the big day. Taryn had been looking forward to it since he was 16. For seven long years, he'd dreamed of finally escaping the boredom and doldrums of Vectra and finding true adventure. But now that the moment was at hand, the gravity of the situation was finally settling in. He could feel the butterflies in his stomach, the slight shake in his hands, and the fine layer of sweat that suddenly coated his forehead. "I know you'd never admit to being nervous," Kaelin said. "I know I was terribly nervous before I left on my Journey." "Come on Dad..." began Taryn. "I know, you're strong, you're excited, and you're not me. I'm just saying, if there *is* any anxiety under the surface, I just want to tell you: you're going to do great." Kaelin stopped his sentence abruptly and stood looking uncomfortable. After a pause, he said, "Taryn, I love you. And I'm going to miss you." Taryn wanted to stand strong, to show that he was a real man, to show no emotions. But here was his father, the strongest person Taryn knew, tearing up twice in as many days. "Oh, come here!" his mother, Soren, said. She rushed over and grabbed Taryn in a bear hug that only a mother could pull off. "Be safe, be smart, be strong." Taryn put his arms around his mother, put his head on her shoulder, and cried. He wept like a baby, like he hadn't done in years. Kaelin came over and wrapped his arms around the two of them. They stood like that for five minutes, just outside Taryn's new home, wrapped in each other's arms, and cried freely. Finally, his parents let him go, stood back, and held hands. They didn't need to say anything else. No requests to write home, no final warnings. Everything had been said. Kaelin and Soren stood there, holding hands, as Taryn walked into his new home, engaged the seals, activated the drive, and launched into space. His Journey had officially begun. ## Bio-age 23 years, 11 months Taryn was above manual labor. He was smart, he was cultured. He had a plan for his Journey. He'd saved up plenty of nakas and had been living off them for the past three months. *Three bio-months*, he reminded himself. Most of the time had been spent in a nearby hub, Nexus Relay. It was located near the midpoint between his home planet of Vectra and its closest neighboring inhabited planet, Novara. He was about 15 lightyears from home. At relativistic speeds, it had only taken a total of 4 bio-weeks in total, split up into a few stops for entertainment at smaller Relays along the way. But Nexus was the real deal. He'd been docked for about four days now and was starting to adapt to the station's day/night cycle. His parents had sent him monthly letters, which meant that he now had about 180 messages from them. They understood the time dilation well. They should, of course. It had allowed them to live 1,000 chrono-years already. They knew that, for him, it had only been a few months. They never demanded any responses. Even stranger, their letters seemed to have a timeless quality. They would mention some day-to-day events, but they knew these would be unimportant to him. By the time he read them, whatever silly dramas existed back on Vectra would be long resolved. To be honest though, he'd stopped reading the letters a few weeks back, just skimming them. He had more important things to do. "Another round for my friends!" he called out. Cheers from around the bar greeted him. He pulled out his comm and casually dropped another 5 million nakas on the drinks. Nexus Relay wasn't as cheap as Vectra, which had an AME--Average Monthly Expenditure--of 30 million nakas. Nexus was a Relay Hub, which meant lots of visitors, lots of imports, and lots of incoming money. Here, AME was closer to 100 million nakas. He tried to avoid it, but he glimpsed the remaining balance on his comm. It was down to 100 million nakas, give or take. He'd started this journey with a billion. *No matter,* he thought. *Once I get used to life on the station, I'll start trading, and I'll be golden.* Vectra was an agricultural planet, and had some of the most delicious dried fruit in the colonized galaxy. He'd sold half his inventory on the Vectra Relay Station #3 for 200 million nakas, and farther out from Vectra it should be even more valuable. "It's certainly none of my business to tell a customer how to spend his money," said the older man behind the bar. "But you have the look of someone fresh on his Journey. You may want to hold onto your nakas, you never know when you'll need them." "Thanks, but I think I'll be OK," said Taryn, downing his drink. With that, he stood up from the bar, walked over to the table with the highest female-to-male ratio in the bar, and asked if anyone wanted a refill. He wasn't planning on sleeping alone tonight. --- "The best price I can do is 15,000 nakas per kilogram," said the storekeeper. "That's crazy!" said Taryn. "I just sold 4,000 kilograms of dried lotan at 50,000 nakas each! Why are you lowballing me?" The storekeeper laughed. "That attitude isn't going to work around here. We have a steady supply of lotan from the autoconvoys. Standard rate is 12,000 nakas. You're right that you brought some high-quality stuff, that village you come from certainly knows its farming. I can sell at a premium, but I'll be lucky to get 20,000 nakas each." "Then give me 20,000 for them!" The storekeeper laughed again, but this time it sounded like Taryn had used up his patience. "You find the customers. You can sell to them directly for whatever price they'll give you. But our business is done. Have a good day son." It chafed to still be treated as a child. And he didn't want to admit it, but he knew he'd been acting like a spoiled brat. It's just that he'd already been to three other storekeepers on the station, and none of them would offer him more than 16,000 nakas each. No matter. He'd make this work. He headed over to the nearest restaurant, ordered a coffee, and pulled out his comm. Clearly his best bet was to take his supply somewhere he could get a better price. He could look up commodity prices anywhere in the galaxy, but it always had the speed-of-light delay on information. The prices could--and would--vary drastically by the time he got to his next destination. His mother had tried to warn him about this and explain the risks of relying solely on trading for a livelihood. But it had all seemed so simple before. Go to a higher AME station, sell his wares at a huge markup, fly back to cheaper regions and buy a new stock, rinse and repeat. *It's just the beginning, I'll get the hang of this.* One of the advantages of a major hub was the cheap energy prices. He could pick up enough antimatter to keep his home running for the next 5 bio-years for less than 3 million nakas. That would be enough to carry him far from home. "OK, check out AMEs from the stations in a 20 light year radius from my current location." The comm paused for a fraction of a second as it requested data from the tens of thousands of interconnected systems. Data access was cheap thankfully, the full payments for all this information would be less than 10 nakas. "Information gathered." "OK, cross reference that with the entertainment index on each station, give a weight of 5 to the AME, and prefer higher AMEs. Give a weight of 7 to the entertainment index, favoring better entertainment of course." His screen flashed, and a few names popped up. The third on the list, Helion Relay, sounded familiar. He pulled up its information. It was only 5 light years from the current location, and almost on a direct trajectory away from Vectra. And its AME was 200 million nakas. With all of his finagling this morning, he was down to 90 million nakas, but he still had half his lotan supply. Surely a high-AME planet, closer to the industrial hub of Novara, would pay handsomely for it. There was no point in sitting around longer. He'd already checked out the bars, clubs, and other recreation on Nexus Relay. He finished his cup of coffee, left a generous tip for the cute waitress, and headed over to the supplier section of the station. With another 10 million spent, he had enough antimatter, food, water, and backup parts for another 2 bio-years in space. The drones would handle the resupply, so he leisurely headed back to his ship. He pulled open the station's catalog on his main display and chose a collection of games and movies to entertain himself for the next 5 bio-days of flight. It was cheap, only 2 million more nakas. He checked on the drones, and he had another 30 minutes to kill before he'd be ready to leave. Not enough time to start a game or watch a movie, and he didn't really feel like watching the local feeds. He had to admit that he wasn't really a fan of the local accent or their comedy. *I could send a message back to Mom and Dad,* he thought. He'd thought that many times since his Journey began. He told himself that he had nothing to say to them, that running back to Mommy and Daddy wasn't what adults on their Journey did. He closed his message app, set his ship on autopilot, and took a nap. By the time he woke up again, 5 hours had passed for him, and about 6 months for his parents. And like clockwork, he had 6 more messages waiting for him. He left them unread. ## Bio-age 24 years, 3 months The lighting in the room was weird. It wasn't dark, yet didn't feel bright. It somehow felt smoky, though there weren't any fires. The electronic whizzing and beeping from the machines gave the room an air of frivolity, which was very much at odds with how he was feeling. He glanced at his cards again. He knew it was a nervous tell, but he couldn't help it. He had pocket kings, with a two, four, and jack on the table. He couldn't pull out his comm to check, but he was pretty sure he had an unbeatable hand. He'd finally given up fully on trading. It turned out that all his guesses were wrong. No one wanted lotan on this fucking station. Too sweet, they said. Apparently, it was little more than a local delicacy. *Why didn't somebody warn me,* he thought to himself for the thousandth time. Surely his parents had known. Why did his mother let him fly off with such worthless cargo? No matter. He finally had the hang of this game. It had been well worth the investment of the last of his nakas to figure it out. Yes, the losses were upsetting, but he still had 5 million nakas, all on the table in front of him. "I'm all in," he said, pushing the appropriate button on the table. A holographic image of piles of gold coins moved to the pot in the center. "I fold." "Me too." The young woman across the table from him locked eyes. She was beautiful, and she'd been eyeing him all evening. He planned on inviting her to see his ship after the game. He was sure she'd never seen such an advanced design. Vectran ships were known for their elegance. Her words snapped him out of his fantasy. "I call." She tapped a button, and another pile of gold coins moved into the pot, this time from in front of her. A few other players stayed in, and the betting continued. Taryn had nothing to do now, or even to worry about. He had the best hand possible, and he was guaranteed to walk away from this round with a solid 25 million nakas. The young woman was no longer looking at him. He was sure she realized her mistake in calling, and didn't want to embarrass herself further. It was fine, he thought, he'd buy her something nice with the winnings. Another two cards were played, a queen followed by a five. That was it, he thought, no one could beat his hand. He sat back, waiting for the dealer program to reveal the cards to everyone. There were four players left in the round. Himself, the young woman, and two older women he didn't care about. One had a three and a five. Apparently, she'd been hoping for a straight. The next had a pair of tens. She was feeling pretty good about herself until Taryn's kings popped up. The small crowd around the table murmured approvingly. He looked up and saw the young woman making eye contact with him again. She didn't look scared. She didn't look angry. She looked... what was that emotion? Was that pity? Her cards on the table blinked and the numbers appeared. A pair of aces. He'd won! "It was a pleasure doing--" he began, until the gold coins moved to her side of the table. "What?!?" he yelled in surprise. Everyone looked at him with astonishment. "The program is broken, I won! I had the kings!" An awkward pause occupied the next ten seconds. Finally, someone from the crowd said, "maybe the rules are different where you come from. But here, aces beat kings." "That's ridiculous! No one plays that way. Someone must have cheated!" Everyone looked away. He realized too late what he'd said. An accusation of cheating may be normal between kids back on Vectra when playing some children's games. But accusing someone of cheating in financial affairs was a brand-new level. "Sir," said a voice over his shoulder, "I believe you've been at this table quite long enough. Allow us to buy you a drink. And after that, please leave and do not come back to this establishment." Mustering what remaining pride he could, he stood up, turned away from the table, and walked out the door, back to the station's main promenade. He really wanted that drink, but it would cost him too much of his remaining pride to accept the handout. ## Bio-age 26 years, 2 months It had taken six more bio-months, but he'd finally found a buyer for the lotan. He didn't want to admit it, but it had been nothing more than luck. He'd docked at a station and met a trading convoy. They were headed off to the other side of the galaxy and had offered him 60,000 nakas a kilogram. That 240 million nakas had let him resume a more normal course of life again. Six months of food rations and stale games and videos had been a humbling lesson. But he'd made it as a trader. With 50 million of those nakas, he'd purchased a collection of spices, artwork, and clothing at a nearby low-AME station. It was all locally constructed, no imports, bringing the price down. He was sure he'd find a buyer for this stuff at a higher-AME station nearby, turn a profit, and finally get his Journey restarted correctly. Unfortunately, besides his cargo, he was down to 10 million nakas, low on rations, almost out of antimatter, and no closer to finding a buyer. No one wanted his merchandise. He couldn't even find a break-even buyer, and he'd been trying to sell this shit for over a year now. *What's the name of this station?* he thought blearily. He'd been to a few bars already today. How far was this station from the nearest star? The antimatter was expensive here, as was the alcohol. He'd just stop for another few drinks and then call it a day. ## Bio-age 26 years, 3 months Taryn took a small amount of satisfaction in knowing that he was true to his word. He had, in fact, had a few more drinks and then called it a day. And the same thing the next day. And the following. Soon enough, he'd spent an entire month on this God forsaken out-of-the-way relay. It was an important part of the local mining operations apparently. He knew; too many drinking companions had bored him to death with tales of ore surveys, controlled explosions, the mechanics of automated drone construction, and the fleets of delivery drones going back and forth from the nearest planet to make it work. And as it happened, that nearest planet was Vectra. It also turned out that his lotan fruit would have made a killing on this station. He'd kept a few cases from his original supply to remind him of home and had shared a sample with a bar buddy. They'd never tasted the lotans from his home village. But his new cargo? Completely worthless here. He was friendly with the bartender of the local bar. This useless station only had one bar, where the alcohol was both pricey and had a lousy selection. Someone could really make a killing if they fixed that. No one seemed interested. Too busy with mining. How could people care more about rocks than booze? The bartender smiled on seeing Taryn. Which wasn't really a surprise, he was probably his best customer. How many nakas had he spent here? He could check on his comm, but why bother. "I'll have the usual," he said, placing his comm on the scanner. A new sound came out, a quick beep. He'd never heard it before. The screen said, "insufficient balance." "Sorry kid, looks like you're out of money." Taryn had never felt this before. He was in the middle of nowhere. He had worthless cargo. He had no money. He had barely enough emergency rations on his ship to last another month. And he didn't have enough antimatter to get somewhere civilized. Dejectedly, he walked back to his ship, lay down on his bed, and went to sleep. ## Bio-age 26 years, 4 months The rations were gone. The antimatter was barely enough to power at-rest systems. The docking lease was going to expire in two days. He did math he'd never had to do before. He had to figure out how much money he'd need to get somewhere else. Anywhere else. But even that wasn't helpful. How would going to a new station help? He had worthless cargo, no skills, no money. He was failing his Journey. "Computer," he began, "help me out here. What options do I have?" "Hi Taryn, good morning. I assume you are referring to your financial situation. I see four options for you. One: you could exchange your ship and cargo for a ride to another station. Caveat: you would be in the same situation when you arrive at the next station. Two: you could instead look for a ride to your home planet and abandon your Journey. Three: you can seek employment. Four: you could ask someone for assistance." *Why didn't I think of that?* he thought to himself. "Thanks computer." He was disgusted with himself, but his very first thought was to ask his parents for assistance. To be fair, he'd be contemplating that off and on for a few days already, but hearing the computer say it finally forced the matter. He'd checked, and through all of his meandering and circling, he'd ended up only two lightyears from home. For him, it hadn't yet been three years. For his parents, thirty years had passed. They'd be in their bio-age nineties by now. Still young, but deep into their retirement thanks to the fortunes they made on their own Journeys. What was a billion nakas to them? They'd happily give it to him! The problem though was one of time. It would take two years for his message to make it to them, and another two years for the nakas to make it back. If he could engage relativistic travel, he could make that work, but he didn't have the money to make that happen. And if he booked random voyages with others--if he could even convince them to let him travel with them--he wouldn't know which network to ask his parents to send his nakas to. No, his parents weren't an option. Never mind the embarrassment that in three years of travels, he hadn't sent them a single real message. How could he? He was a failure. All he would do was embarrass and worry them. No, his only option was to find someone on this shitty station to help him. --- "I'm sorry, son, but I'm not in the gift giving business." "It's not a gift, I'm asking for a loan," Taryn repeated. "I have a ship and cargo, which I can use as collateral. I just have a small cash flow problem, which I'll rectify when I get to the next station. Then I'll send you the loan repayment, with interest." The bartender looked Taryn directly in the eye. Others may have found this topic uncomfortable, but a man who spent his living surrounded by drunks learned to be direct. "That may as well be a gift. Your cargo is useless, or you would have sold it by now. I could never collect the collateral for the loan if you can't repay; you'll be long gone. The best I could hope for is that you'll repay that loan with interest, but it'll be decades in local time before that payment shows up." Taryn's voice was low. "Please, I'm begging you. This is my only option." The bartender smiled a sad smile. "Look, I've seen you coming here for a few weeks now. I've seen you wasting your money. I can judge a man pretty well. You're not someone I can rely on. I'm sorry. I won't give you something for nothing." And at that, he paused. "However, I *am*willing to offer you something for something." Taryn's ears perked up. "Oh, that's great! Why don't you come down to my ship and check the cargo..." He trailed off as the bartender began to laugh. How did Taryn still not know the guy's name? "No, no, no, I don't need anything like that. I need someone to clean up the place. The bots do a decent job overall, but they need to be managed, and there are still some details they don't get perfect. I like to keep a classy establishment here." Taryn was about to argue about how crappy the alcohol was, but then he paused. He looked around. The bar was meticulous. It was clean, it was beautifully decorated. How had he never noticed that before? "You're not the first rich kid on his Journey we've had around here. You kids burn through money quickly. But you tend to have a good eye for making a bar feel comfortable. Take over the cleaning, then the arranging, and if you do a good job, you can even tend the bar." "But that's your job!" said Taryn. "How will you make a living?" The bartender laughed again. "Thank you for looking out for me. But I'll be fine. I own the place. And if you take over my daily operations, I can spend more time on my distillery." That last comment took Taryn a good 10 seconds to process. "You... you make your own alcohol? You serve it here?" "Of course! Why do you think the alcohol tastes so bad?" Taryn must have stared longer than was polite, because the bartender felt obligated to continue. "I took over this place from the previous guy 5 years back. I've been trying to improve his distilling operation. First thing I did was put in an order for a year's supply of grain, fruit, and spices from Vectra. I've been studying distilling. I may not look it, but I'm passionate about good alcohol! I chose this station because I believe I can make the best lotan vodka ever distilled. But I can't do that when I'm spending all day pouring drinks." It was a lot to take in. Taryn's initial response was to scoff at the idea of pouring drinks for a pittance of nakas. He was supposed to be on his Journey, making his fortune, creating his own destiny. How could he do that at an out of the way station? He wanted to scoff and walk out of the bar, but he didn't have many options. "Can I think about it and get back to you?" The bartender gave him a knowing look, nodded, and said, "Take all the time you need." --- It was official: no one would give Taryn a ride anywhere for free. No one was traveling to Vectra. No one was engaging in charity or loans. And he hadn't checked, but he didn't think anyone else would offer him a job either. Taryn sat in the captain's chair. It was one of the mottos held throughout the galaxy: Within a man's home, he is king. This ship had been home for three years now. And Taryn felt like the king of nothing. He sat there, paralyzed, seeing his life crumbled around him. He sat there for hours, thinking of everything and nothing. He might have sat there until the port authority came by to evict him from his dock, but a familiar sound broke his trance. A simple ding. A notification. He had a message. It was another message from his parents. He couldn't remember the last time he'd read one of their messages. He was about to dismiss the notification and go back to his brooding, but either he had a last-minute change of heart, his finger slipped, or the computer decided to do what it thought was best. The message popped up on the main display. *Dear Taryn. We hope this message finds you well. And yes, it's the same message we've been sending for the past year. If you've already read it: you know you can ignore it. If you haven't: this has been a part of the tradition of the Journey for generations.* *You're probably struggling right now. It's OK; we all have. It's not easy taking your first steps out into the real world. You thought you were ready. No one ever is. You haven't contacted us at all for the past 28 years. That's OK too; it's part of the Journey.* *We both struggled. We both failed at first. It's OK. Don't give up. You'll find your way, and you'll be a better man for it.* *You probably need money right now. Even if we knew which network to send it to, we wouldn't help. You need to find a way to succeed on your own. If we take that from you, we will have robbed you of the most valuable thing we could ever give you.* *We love you. We believe in you. You will succeed.* *It would be wonderful to hear from you when you're ready. But take your time.* Taryn reread the message a few times. He opened his message history, scrolled back, and started from the beginning. The initial messages from his parents, for the first few years of Vectra-local time, discussed minutiae of life. But after five years, this new message popped up. And every message since then was an exact copy. There were tears on his face. He was exhausted, but he was no longer demoralized. He got up. He turned on the shower, shaved, dressed in his most formal attire, and strode back into the station. He walked into the bar. "Thank you for the job offer. I appreciate the opportunity." The bartender started. That apparently hadn't been the tone he'd been expecting. "Does that mean you'll accept?" "I only have three questions. First: how much will you pay me?" The bartender smiled. "I'll pay you 1.3 AMEs. That'll cover your expenses, if you stop wasting money on getting drunk each night, plus let you start saving up some money." Taryn barely remembered the AME rate on this station, but it didn't really matter. "Thank you, that would be wonderful. And my second question: can I get an advance on my first paycheck? My port dues are up tomorrow, and I'm completely broke." At this, the bartender chuckled. "I'll do you one better. I'll throw in your dock fees as part of the pay. The station administrator is a regular customer, he'll give me a discount. What's your last question?" "What's your name?" A smile spread over the bartender's face. "Jaxon," he said. Taryn stuck out his hand with the awkward formality of someone unused to such efforts and said earnestly, "Nice to meet you, Jaxon. I'm Taryn." ## Bio-age 27 years *Dear Mom and Dad, I turned 27 today! I know you won't get this for another two years, but thought you'd want to know. And yes, I'm close to Vectra. I've been on Titan Station for the past few months.* *I know I didn't write for a while. Too long. I'm sorry. I was ashamed of myself. I failed at my Journey. I used up all my money, made terrible decisions, and went broke. I'm little more than a janitor. I was afraid to admit it. But your message helped. I hope I can make you both proud one day.* The message felt clunky. There was so much to say, so much emotion, so much guilt. He didn't know how to get it into words. His finger hovered over the delete button. Before he could talk himself out of it again, he hit send. *At least that's over with.* Taryn had a daily routine now. His shift covered the afternoon and evening, leaving his mornings free. It turned out that there were lots of quality educational resources available on the station. He gladly paid a few thousand nakas per course. The first thing he'd looked for was a course on space trading. He'd never really thought about *why* someone would be willing to give him money for his goods, much less why they'd pay him more than he bought it for in the first place. He learned how to browse the net and glean information on wants in other stations. It turned out that the closest station over--a place called Echo Relay, only 3 light-months away--was constantly complaining about the low-quality alcohol. He'd brought it up to Jaxon. "Tell you what. You set up the deal, I'll give you a 10% commission." He'd sent off a proposal to a grocer on Echo Relay. He'd put together what he thought was a good offer. And he'd sent a few bottles of the newly distilled Jaxon's Lotan Vodka on a drone. At first, the thought of giving something away for free chafed. But it seemed like that's how business was done. And it seemed like a better usage of 500,000 nakas than buying a few drinks for random strangers. It would still take at least two more months before he'd hear back from Echo. He'd also been researching any stations that may be interested in his cargo. He'd identified a station that looked promising. There was a station four light-months away that was having a Festival. Travelers would be flying in from up to ten lightyears away, and they all wanted to take home a souvenir. He was finalizing negotiations with a caravan heading off there to sell his artwork for a commission. It was risky; there was a chance they'd simply take the money and fly off, avoiding the negative reputation points long enough for them to wash off the net, but the artwork wasn't doing him any good here. He wasn't the brilliant space trader he'd thought he would be. He wasn't a maverick at gambling. And he definitely wasn't suave with the ladies. But as he walked into the bar for his daily shift, he looked around, saw a beautifully arranged establishment, and felt an emotion he thought might be pride. ## Bio-age 29 years *Hi again. I guess you guys are receiving my first message about now, it's been just over two years since I sent it. Funny how time works like that. I guess you're both used to it from your own Journeys. I have some good news to share. The trade deal with Echo Relay is still paying off. Jaxon doubled his business with that virtually overnight. My 10% has added up to a nice buffer for a rainy day. And I took a chance and offered my remaining spice and clothing cargo at a discount. I just got word back, and they're buying everything. I'm finally inventory free!* *I've been learning a bit more about the distilling process, but I realized it's not really something I'm that excited about. As much as I love working at the bar, I think it's time that I moved away from an alcohol-focused business. I took an apprenticeship with some of the miners. They've been teaching me some basic grunt work. Apparently, they still need basic mechanics on these ships. I'm getting my Class 1 certification. I spoke with Jaxon about it, and he was very encouraging. He says he doesn't want to lose me, but I think he's secretly happy that I'm making more of myself. Or at least happy to get rid of me.* *I dropped a case of Lotan Vodka in a drone last week, you should receive it a few weeks after this message. It's a gift, but it's more than that too. I think we could make even better vodka from the local lotans from our village. I checked the last few I had, and they have an unusual combination of flavonoids, plus a higher fructose content than the regular stuff that gets shipped off. I already spoke with Jaxon about it, and he'd be willing to buy 40 kilograms at 15% above standard rates. Would you be interested in making that trade happen? I'll attach a contract for payment from our end, the nakas are already in a custody contract.* It felt weird to be using his parents for a trade deal like this, but it was in line with the ethos they'd taught him. He wasn't trying to take advantage of them, he was trying to make a mutually beneficial arrangement. Everyone wins. His parents take a commission, Jaxon gets to make better alcohol he can sell at a higher price, and the customers on both Echo Relay and Titan Station would enjoy it more. That's when Taryn realized what he'd missed in his message. *If you can arrange the deal with a local farmer, I propose we split a 5% commission on the deal, 2.5% for me, 2.5% for you.* It definitely felt strange haggling with his parents. But he knew they would approve. ## Bio-age 34 years *Hi Mom and Dad. I'm sorry for the delay in this message. As you know, my crew got shipped out to the titanium mines, and communications have been a bit delayed. I only got the message from Jaxon now about the shipment. He says he's started the distilling process, but this batch looks like it will be even better than the last one! He says business has been on a huge uptick since he switched lotan providers. Apparently, a bunch of the locals on Titan are planning on taking a vacation to Vectra to check out the orchards.* *As for my work over here. They've upgraded me to chief welder. The pay increase is nice, but it doesn't compare to the commissions I'm making. I'm enjoying the work. Some of these asteroids have been really stubborn. It's been a real challenge breaking up the rocks. But according to my research, this cluster of asteroids should have a higher titanium content than the patch we were looking at previously. I have a deal with the captain that if I'm right about this, he'll let me pick the next spot and give me a 2% cut of the gross.* *I love you both.* Taryn wasn't sure why, but he'd downplayed his excitement in that message. He'd developed a brand-new method for estimating mineral deposits in an asteroid. This had the potential to increase the productivity of his crew's operations by at least 25%. That was exciting, and the potential 2% cut was nice. But he was discovering something new about himself. It wasn't the money that mattered. And it wasn't even what the money could buy that mattered. He'd realized at some point in the past three years that he could easily go back home and live in luxury off his parents any time he wanted. But he didn't want that. He wanted to succeed. He wanted to make the galaxy a better place. And every naka he earned through his own labor meant someone, somewhere, believed that he had made their lives better. *That's* what excited him. The crew quarters were much tighter than his luxurious rooms back on his ship, but he didn't mind. He spent most of his time in a spacesuit, in the mess hall with the rest of the crew, or on the bridge. He'd never felt this kind of camaraderie before, and he was loving it. "So, today's the big day," called out Captain Voss as Taryn stepped onto the bridge. "Care for a friendly wager about whether your new method works?" "That's kind of you, but are you really that eager to lose a bet?" The crew laughed. Everyone knew how nervous Taryn was about this. He was putting up some bravado now, and they were letting him hold onto it. But this was probably the biggest moment of his life. At least up until this point. "Captain, the charges are set, and the demolition crew is clear of the area. Waiting for your orders to detonate." "Proceed." Ten seconds later, a nearby asteroid split in half. There was no sound, of course. There's no medium to carry sound waves in space. He knew that now, but had been the butt of jokes for about two weeks for covering his ears during his first detonation. No one was laughing now. As much as they teased him, they knew that if his new estimation method worked, they'd all essentially get a 25% pay bump. More than that though, they were rooting for him. "Debris field stabilized, Captain. Can I authorize the survey team to enter the area?" "Yes, go ahead." A series of communications ensued, but Taryn couldn't spare any attention for that. His eyes were fixed on the viewer. His hands were clenched. He was sweating. The sounds around him faded to silence in his focus. All he wanted to know was *did it work?* After five agonizing minutes, he heard the radio receiver kick in. "Tell Taryn I owe him a round when we get back to Titan. The mineral density is within 0.05% of his estimates. Best concentration we've found in over a decade." The entire bridge burst into cheers. Everyone but Taryn. He stood there, speechless. The captain said something about a bonus. It was some large number of nakas, but he didn't even hear how many. All he could think was, *I did it. I made the galaxy a better place.* ## Bio-age 35 years That round of drinks had to wait almost eight months, but it was well worth it. Taryn walked into Jaxon's bar with the rest of his crew. There was a new bartender on duty, someone he hadn't met before. But Taryn had messaged Jaxon in advance, and he was there personally to greet him. "So, you did it, eh?" Taryn's face muscles couldn't quite open his mouth widely enough for his grin. "Yeah, I did it." "I knew you had something. I'm glad you finally crawled your way out of the bottle. Now before you and your friends all climb back inside, I have a surprise for you." Taryn hadn't been expecting that. He looked over the bar. He saw some new imported whiskeys on the shelf, as well as the standard Lotan Vodka that most people came in for. The tables were arranged a bit differently, the artwork slightly updated. Was it the music system? It seemed a bit clearer than last time he'd come in; maybe Jaxon had finally patched up that faulty third speaker. "OK, I give up. What is it?" Jaxon pulled out his comm and hit a button. After a moment's wait, he spoke into its microphone, "Yeah, he just got here, come on in whenever you're ready. Uh-huh. Got it." After clicking off and putting the device away, he continued, "They'll be here in a few minutes. Why don't I get you gentlemen started off with a round. I'm sure one of your shipmates already promised to pick up your tab tonight, but let me get the first one." "Thank you, Jaxon. Truly, thank you for everything. I wouldn't have made it without you." Jaxon grinned, then called out to the bartender, "Give these gentlemen a drink! My treat!" Taryn no longer drank like he used to. He'd engage in the occasional social affair, but he no longer needed to dull his senses. As a result, while the rest of his crew was finishing their second drinks, he'd barely gotten through half of his first when the surprise guests walked in. "Hi Taryn." He knew that voice. He turned around, and there stood his parents. They must have experienced forty bio-years since he last saw them, but they looked barely aged. The wonders of modern medicine. "It's good to see you." Taryn jumped up. "Mom, Dad, I... I... I didn't expect to see you!" "Well, it's usually frowned upon to come home early from a Journey," his father said. "But no one ever said home can't come to you." For him, 12 bio-years had passed. When he'd set off, he'd been arrogant, certain of his future success, and dismissive of his parents and their purported wisdom. Now it was a different story. He'd failed. And then he'd succeeded. He was a man standing on his own merits. He walked over to them and grabbed them both in a tight embrace. "It's so good to see you." --- His crew had shooed him off pretty quickly after that. Taryn offered to treat his parents to dinner at the local restaurant. "Another time," Kaelin said. "Let's go back to our ship instead." Sure enough, they'd brought the entire main house with them. After all, why not? Antimatter was cheap, one may as well travel in comfort. Not to mention bringing along Taryn's old bedroom. Like no time had passed at all, they all stood around in the kitchen together, taking turns chopping, peeling, stirring, seasoning. They never stopped talking. They wanted to know everything about his new discovery. It was clear partway through his explanation that they had no idea what he was talking about. Both of them had focused more on trade during their Journeys. They hadn't gone deep into the science or engineering fields. Apparently, they'd been doing a bit of reading since they got his first message detailing his plans. However, due to the time dilation from travel, they'd only had about three months to try and catch up. Nonetheless, they listened eagerly to everything he had to say. At some point the conversation shifted and they talked about home, and about friends he'd left behind. He could have checked up on his friends any time on their Notes; he was close enough now that most messages got relayed to his network. But he'd been too busy. And it meant more hearing it from his parents. When they eventually sat down to eat, he turned to the question most pressing on his mind. "I need your advice on what I should do next." "No, you don't son," Kaelin said firmly. "You've proven that over the past twelve years. You don't need us at all." Taryn thought about that. "You're right. I don't need your advice. But I'd really like it." They both smiled. "OK, with what?" "I've developed this technology. It will increase mining productivity anywhere it's used. What should I do next?" "You could just give the technology away," his mother began. "You'd lose out on a small potential fortune though." "Yes, I thought of that. I also thought of patenting and licensing the tech, but lots of the outer systems don't abide by the patent treaty. It would basically amount to the same thing: giving away the technology." Kaelon took on a bemused look. "So why not simply give it away? It will make the galaxy a better place, right?" Taryn thought about it. There was logic to that. And he didn't need the money, his existing commission deals were supplying far more revenue than he knew what to do with, and his accounts had grown enough that he'd started keeping spare nakas in neighboring networks just to spread his risk of network failure around a bit. But he knew why his father looked bemused. "No, I don't think so. No one will build these devices as well as I can. And I know with the right resources, I can improve the technology even more." "Well then, let's figure out how to turn your idea into a business. But we want official advisor titles in the new company, plus 2% of the shares each." "Done." And as the night went on, he realized that 4% of the company was a small price to pay for the insight they gave him. ## Bio-age 49 years "Sir," began the new secretary. "Taryn," Taryn interrupted. "Taryn? Oh, I see. Taryn, we just received reports back from the Polaris Array mining colony. It seems that the first prototypes you sent out were a success." Taryn should have breathed a sigh of relief. He'd sent those prototypes off with some of his best men over six years ago. He'd considered going with, but his labs were far more interesting and would benefit more from his attention than a simple device installation. "Wonderful. What was the estimated increase in mining efficiency?" "Well, sir, I mean, Taryn. Well, Taryn, they primarily mine aluminum, which seems to show an even greater efficiency improvement than the titanium mines did. They completed ten separate missions with the device, and in aggregate they increased productivity on this venture by 42%." Well *that* was certainly something. "Just imagine when we send out the gen 3 units. They still haven't even received the gen 2s! How much did we take in from this?" "Your negotiator worked out pretty good terms. They agreed to give you 50% of the increased mining load, which works out to 21% of the old haul. It looks like a normal haul previously netted 6,000 megagrams, giving you 1,260 megagrams of raw aluminum. The team decided to sell on-site, they figured you could use the money more than the aluminum." "So how much did we net?" "Total expenditure for the trip, outside of research costs, came in at 15 billion nakas. At current rates, the haul came out to... ouch, only 2 billion nakas. I'm sorry sir." "Taryn please. And nothing to apologize for. This is the first venture of many. Those devices will last years." The secretary paused for a moment. "I'm sorry, but I don't quite understand something. What stops the miners from simply using your device without sending you your commission?" "You mean besides the reputational damage from contract violation?" The secretary blushed a bit. "Yes, Taryn, besides that." "Easy." Taryn thought back to that conversation with his parents fourteen years ago. "We're going to keep improving the tech, and they know it. They'll happily keep paying for the tech, knowing they'll keep getting better toys in the future." It all seemed so simple now. Why try to stop someone from cheating, when you could simply make it more lucrative to be honest? ## Bio-age 62 years Taryn's ship touched down on Novara. *Amazing, after almost 40 years I finally made it here.* He'd been tempted to settle down on Vectra, but it hadn't seemed right. No one could claim he'd failed at his Journey anymore, but going back home still felt like some strange admission of defeat. But those were just vestiges of the immature thoughts he'd had at the start of his Journey. Now that he was ready to complete it and settle down, his motivations were much more simple. He'd found a beautiful plot of land on Novara. It was close to some major scientific institutes, which would be good fodder for his research labs. Most of all, his wife, Elara, loved Novara. Turns out, even though it was an industrial hub, the planet itself was gorgeous. He glanced over at his wife, still holding their new baby daughter. She was barely two months old. The labor had started a bit early, and they'd needed to initiate a time-dilation jump so they could make it to a well-stocked medical facility quickly enough. Thankfully, it all went smoothly, and both Elara and little Nyra were doing great. To top it all off, his team had finished the arrangements to bring the rest of the research facility planetside while he was gone. They'd likely be arriving in the next few days. Taryn stepped out of his ship, his home. They'd had to buy some additions to accommodate the family they were anticipating, but that was money well spent. And money well earned. He could be happy with what he had. ## Bio-age 73 years "You know honey, I never even met my grandparents. Both of my parents Journeyed from thousands of lightyears away." "Does that mean they did better at their Journey than you did?" Nyra, now eleven years old, asked. Elara had been about to scold Nyra, but Taryn quickly defused the situation with a quiet chuckle. "You could say that I guess, but I don't think so. It's not about how far you travel. Or even how much money you make along the way. It's about the Journey itself." As much as an eleven-year-old can ponder a deep idea, Nyra did so. All the way until they saw a spot in the sky. "Is that them?" she asked excitedly. "Yes, I think it is," Taryn said with a grin. "How long has it been since you've seen them?" asked Elara. "Wow, I guess it's been almost 40 years! They've been traveling most of that time though, so they probably haven't aged much. Only 110 or so." The ship touching down was, in fact, his parents. He let Nyra run up to them first. They'd sent plenty of videos back and forth, so she felt like she almost knew them already. Taryn didn't know how long his parents planned on staying. For all he knew, they'd leave that night, or in a year, or never. They might go back to Vectra, or explore space, or even go back to their original home worlds for a visit. They still had so many years left. And for that matter, so did he. ## Bio-age 90 years Taryn sat at a beautiful table, at the grandest banquet hall he could find. That hall happened to be in an orbiting station, so that's where they did the ceremony. It was a bit of an expense, but if you didn't spend money on a moment like this, when would you? Everyone gathered knew who he was. If they didn't, his seat at the head table made it clear he was important. So, when he stood up, the entire room went quiet. "I remember when I left on my journey. It feels like a thousand years ago now." Everyone looked a little perplexed at that. "Or, at least, a hundred or so." This time, they all laughed. He could see Nyra slightly rolling her eyes. That was OK. "Journey isn't just about adventure. It's about growth. About knowledge. About meeting and learning from others. Not everyone is cut out for it." At this point, Taryn paused. He looked Nyra directly in the eye. His eyes teared up ever so slightly. He reached down to the table, carefully picked up his glass, and held it aloft. "To my eldest daughter, Nyra. I'm so proud that you've decided to go on a Journey as well. We're going to miss you. Godspeed!" With that, all the assembled guests, all of Nyra's friends and family, virtually everyone who meant anything to her, raised their glasses in unison and toasted her successful Journey. ## The End This completes the first short story in the Galactic Silk Road universe.

@ a012dc82:6458a70d

**Table Of Content** 1. The Genesis of Ordinals 2. The Bitcoin Frontier Fund's Vision 3. Building in the Bear Market 4. The Evolution from Stacks Ventures 5. The Ordinals Accelerator Program 6. Controversies and Triumphs 7. The Future of Ordinals - Conclusion - FAQ In the ever-evolving world of cryptocurrency, Bitcoin has consistently held its ground as the pioneering force. Its decentralized nature and robust security have made it the gold standard of the digital currency realm. However, as with any technology, evolution is inevitable. Enter Ordinals, a groundbreaking protocol that's reshaping the Bitcoin landscape. But what exactly is Ordinals, and why is it being hailed as the new frontier for Bitcoin? Let's dive in. **1. The Genesis of Ordinals** Ordinals emerged as a Bitcoin-based protocol, allowing for the creation of NFT-like assets termed 'inscriptions' directly on Bitcoin. Developed by Casey Rodarmor, this protocol has opened the doors to a plethora of innovations, including the introduction of Bitcoin-native tokens known as BRC-20s. At its core, Ordinals aims to bridge the gap between the traditional capabilities of Bitcoin and the burgeoning world of NFTs and advanced digital assets. **2. The Bitcoin Frontier Fund's Vision** Recognizing the potential of Ordinals, the Bitcoin Frontier Fund, formerly known as Stacks Ventures, took a monumental step. They announced an accelerator program dedicated to Ordinals, aiming to nurture startups by offering them mentorship opportunities and a whopping $100,000 in seed investments. Spearheaded by entrepreneur and influencer Trevor Owens, the fund's mission is clear: to catalyze growth around Ordinals and harness the untapped potential of Bitcoin-based innovations. **3. Building in the Bear Market** Despite the challenges and headwinds in the venture space, Owens remains optimistic. He believes that the current bear market is the ideal breeding ground for the next generation of unicorns – private startups valued at over a billion dollars. With fewer players in the field, it becomes easier to spot potential game-changers, and Ordinals, with its revolutionary approach, stands out. **4. The Evolution from Stacks Ventures** The journey from Stacks Ventures to the Bitcoin Frontier Fund is a testament to the transformative power of Ordinals. Stacks, a layer-2 blockchain, was designed to let developers craft smart contracts and decentralized applications atop Bitcoin. However, with the advent of Ordinals, the conversation around Bitcoin and Web3 underwent a seismic shift. As Owens pointed out, before Ordinals, the idea of building advanced assets on Bitcoin's primary layer seemed far-fetched. But Ordinals has filled this void, offering a solution to create assets directly on the Bitcoin network. **5. The Ordinals Accelerator Program** Designed to span four months for each participating company, the Ordinals accelerator program is more than just a mentorship initiative. It's a launchpad that prepares startups to raise funding and make their mark in the crypto world. The program boasts of an impressive lineup of mentors, including industry stalwarts like Amanda Terry of OnChain Monkey, Kevin Henrikson from Dust Labs, and Udi Wertheimer of the Ordinals project Taproot Wizards. **6. Controversies and Triumphs** Every innovation faces its share of challenges, and Ordinals was no exception. During Bitcoin 2023 in Miami, Ordinals became a hot topic of debate. The protocol was criticized for congesting Bitcoin's network, leading to skyrocketing transaction fees. However, as the saying goes, there's no such thing as bad publicity. The attention garnered by Ordinals, even if controversial, played a pivotal role in driving its adoption. **7. The Future of Ordinals** While there's been a recent lull in Ordinals-related activities, leading some to prematurely declare its demise, Owens offers a different perspective. He likens the trajectory of new technologies to a hype cycle. Initial enthusiasm is often followed by a period of skepticism and doubt. However, Owens firmly believes that Ordinals is not just a fleeting trend but a paradigm shift in how applications can be conceptualized and built on Bitcoin. **Conclusion** In the grand tapestry of cryptocurrency, Ordinals stands out as a vibrant thread, weaving a new narrative for Bitcoin. It's not just an innovation; it's a testament to the limitless possibilities that the world of digital currency holds. As the Bitcoin Frontier Fund and visionaries like Trevor Owens rally behind Ordinals, one thing is clear: Bitcoin's new frontier is here, and it's set to change the game. **FAQ** **What is Ordinals?** Ordinals is a Bitcoin-based protocol that allows for the creation of NFT-like assets, termed 'inscriptions', directly on Bitcoin. **Who developed the Ordinals protocol?** The Ordinals protocol was developed by Casey Rodarmor. **What is the Bitcoin Frontier Fund?** Formerly known as Stacks Ventures, the Bitcoin Frontier Fund is an initiative that launched an accelerator program focused on Ordinals, offering startups mentorship and seed investments. **How long is the Ordinals accelerator program?** The Ordinals accelerator program lasts four months for each participating company. **Why was Ordinals controversial during Bitcoin 2023 in Miami?** Ordinals faced criticism for congesting the Bitcoin network, leading to increased transaction fees. **That's all for today** **If you want more, be sure to follow us on:** **NOSTR: croxroad@getalby.com** **X: [@croxroadnews](https://x.com/croxroadnewsco)** **Instagram: [@croxroadnews.co](https://www.instagram.com/croxroadnews.co/)** **Youtube: [@croxroadnews](https://www.youtube.com/@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.*

@ fe32298e:20516265

Today I learned how to install [NVapi](https://github.com/sammcj/NVApi) to monitor my GPUs in Home Assistant.  **NVApi** is a lightweight API designed for monitoring NVIDIA GPU utilization and enabling automated power management. It provides real-time GPU metrics, supports integration with tools like Home Assistant, and offers flexible power management and PCIe link speed management based on workload and thermal conditions. - **GPU Utilization Monitoring**: Utilization, memory usage, temperature, fan speed, and power consumption. - **Automated Power Limiting**: Adjusts power limits dynamically based on temperature thresholds and total power caps, configurable per GPU or globally. - **Cross-GPU Coordination**: Total power budget applies across multiple GPUs in the same system. - **PCIe Link Speed Management**: Controls minimum and maximum PCIe link speeds with idle thresholds for power optimization. - **Home Assistant Integration**: Uses the built-in RESTful platform and template sensors. ## Getting the Data ``` sudo apt install golang-go git clone https://github.com/sammcj/NVApi.git cd NVapi go run main.go -port 9999 -rate 1 curl http://localhost:9999/gpu ``` Response for a single GPU: ``` [ { "index": 0, "name": "NVIDIA GeForce RTX 4090", "gpu_utilisation": 0, "memory_utilisation": 0, "power_watts": 16, "power_limit_watts": 450, "memory_total_gb": 23.99, "memory_used_gb": 0.46, "memory_free_gb": 23.52, "memory_usage_percent": 2, "temperature": 38, "processes": [], "pcie_link_state": "not managed" } ] ``` Response for multiple GPUs: ``` [ { "index": 0, "name": "NVIDIA GeForce RTX 3090", "gpu_utilisation": 0, "memory_utilisation": 0, "power_watts": 14, "power_limit_watts": 350, "memory_total_gb": 24, "memory_used_gb": 0.43, "memory_free_gb": 23.57, "memory_usage_percent": 2, "temperature": 36, "processes": [], "pcie_link_state": "not managed" }, { "index": 1, "name": "NVIDIA RTX A4000", "gpu_utilisation": 0, "memory_utilisation": 0, "power_watts": 10, "power_limit_watts": 140, "memory_total_gb": 15.99, "memory_used_gb": 0.56, "memory_free_gb": 15.43, "memory_usage_percent": 3, "temperature": 41, "processes": [], "pcie_link_state": "not managed" } ] ``` # Start at Boot Create `/etc/systemd/system/nvapi.service`: ``` [Unit] Description=Run NVapi After=network.target [Service] Type=simple Environment="GOPATH=/home/ansible/go" WorkingDirectory=/home/ansible/NVapi ExecStart=/usr/bin/go run main.go -port 9999 -rate 1 Restart=always User=ansible # Environment="GPU_TEMP_CHECK_INTERVAL=5" # Environment="GPU_TOTAL_POWER_CAP=400" # Environment="GPU_0_LOW_TEMP=40" # Environment="GPU_0_MEDIUM_TEMP=70" # Environment="GPU_0_LOW_TEMP_LIMIT=135" # Environment="GPU_0_MEDIUM_TEMP_LIMIT=120" # Environment="GPU_0_HIGH_TEMP_LIMIT=100" # Environment="GPU_1_LOW_TEMP=45" # Environment="GPU_1_MEDIUM_TEMP=75" # Environment="GPU_1_LOW_TEMP_LIMIT=140" # Environment="GPU_1_MEDIUM_TEMP_LIMIT=125" # Environment="GPU_1_HIGH_TEMP_LIMIT=110" [Install] WantedBy=multi-user.target ``` ## Home Assistant Add to Home Assistant `configuration.yaml` and restart HA (completely). For a single GPU, this works: ``` sensor: - platform: rest name: MYPC GPU Information resource: http://mypc:9999 method: GET headers: Content-Type: application/json value_template: "{{ value_json[0].index }}" json_attributes: - name - gpu_utilisation - memory_utilisation - power_watts - power_limit_watts - memory_total_gb - memory_used_gb - memory_free_gb - memory_usage_percent - temperature scan_interval: 1 # seconds - platform: template sensors: mypc_gpu_0_gpu: friendly_name: "MYPC {{ state_attr('sensor.mypc_gpu_information', 'name') }} GPU" value_template: "{{ state_attr('sensor.mypc_gpu_information', 'gpu_utilisation') }}" unit_of_measurement: "%" mypc_gpu_0_memory: friendly_name: "MYPC {{ state_attr('sensor.mypc_gpu_information', 'name') }} Memory" value_template: "{{ state_attr('sensor.mypc_gpu_information', 'memory_utilisation') }}" unit_of_measurement: "%" mypc_gpu_0_power: friendly_name: "MYPC {{ state_attr('sensor.mypc_gpu_information', 'name') }} Power" value_template: "{{ state_attr('sensor.mypc_gpu_information', 'power_watts') }}" unit_of_measurement: "W" mypc_gpu_0_power_limit: friendly_name: "MYPC {{ state_attr('sensor.mypc_gpu_information', 'name') }} Power Limit" value_template: "{{ state_attr('sensor.mypc_gpu_information', 'power_limit_watts') }}" unit_of_measurement: "W" mypc_gpu_0_temperature: friendly_name: "MYPC {{ state_attr('sensor.mypc_gpu_information', 'name') }} Temperature" value_template: "{{ state_attr('sensor.mypc_gpu_information', 'temperature') }}" unit_of_measurement: "°C" ``` For multiple GPUs: ``` rest: scan_interval: 1 resource: http://mypc:9999 sensor: - name: "MYPC GPU0 Information" value_template: "{{ value_json[0].index }}" json_attributes_path: "$.0" json_attributes: - name - gpu_utilisation - memory_utilisation - power_watts - power_limit_watts - memory_total_gb - memory_used_gb - memory_free_gb - memory_usage_percent - temperature - name: "MYPC GPU1 Information" value_template: "{{ value_json[1].index }}" json_attributes_path: "$.1" json_attributes: - name - gpu_utilisation - memory_utilisation - power_watts - power_limit_watts - memory_total_gb - memory_used_gb - memory_free_gb - memory_usage_percent - temperature - platform: template sensors: mypc_gpu_0_gpu: friendly_name: "MYPC GPU0 GPU" value_template: "{{ state_attr('sensor.mypc_gpu0_information', 'gpu_utilisation') }}" unit_of_measurement: "%" mypc_gpu_0_memory: friendly_name: "MYPC GPU0 Memory" value_template: "{{ state_attr('sensor.mypc_gpu0_information', 'memory_utilisation') }}" unit_of_measurement: "%" mypc_gpu_0_power: friendly_name: "MYPC GPU0 Power" value_template: "{{ state_attr('sensor.mypc_gpu0_information', 'power_watts') }}" unit_of_measurement: "W" mypc_gpu_0_power_limit: friendly_name: "MYPC GPU0 Power Limit" value_template: "{{ state_attr('sensor.mypc_gpu0_information', 'power_limit_watts') }}" unit_of_measurement: "W" mypc_gpu_0_temperature: friendly_name: "MYPC GPU0 Temperature" value_template: "{{ state_attr('sensor.mypc_gpu0_information', 'temperature') }}" unit_of_measurement: "C" - platform: template sensors: mypc_gpu_1_gpu: friendly_name: "MYPC GPU1 GPU" value_template: "{{ state_attr('sensor.mypc_gpu1_information', 'gpu_utilisation') }}" unit_of_measurement: "%" mypc_gpu_1_memory: friendly_name: "MYPC GPU1 Memory" value_template: "{{ state_attr('sensor.mypc_gpu1_information', 'memory_utilisation') }}" unit_of_measurement: "%" mypc_gpu_1_power: friendly_name: "MYPC GPU1 Power" value_template: "{{ state_attr('sensor.mypc_gpu1_information', 'power_watts') }}" unit_of_measurement: "W" mypc_gpu_1_power_limit: friendly_name: "MYPC GPU1 Power Limit" value_template: "{{ state_attr('sensor.mypc_gpu1_information', 'power_limit_watts') }}" unit_of_measurement: "W" mypc_gpu_1_temperature: friendly_name: "MYPC GPU1 Temperature" value_template: "{{ state_attr('sensor.mypc_gpu1_information', 'temperature') }}" unit_of_measurement: "C" ``` Basic entity card: ``` type: entities entities: - entity: sensor.mypc_gpu_0_gpu secondary_info: last-updated - entity: sensor.mypc_gpu_0_memory secondary_info: last-updated - entity: sensor.mypc_gpu_0_power secondary_info: last-updated - entity: sensor.mypc_gpu_0_power_limit secondary_info: last-updated - entity: sensor.mypc_gpu_0_temperature secondary_info: last-updated ``` # Ansible Role ``` --- - name: install go become: true package: name: golang-go state: present - name: git clone git: repo: "https://github.com/sammcj/NVApi.git" dest: "/home/ansible/NVapi" update: yes force: true # go run main.go -port 9999 -rate 1 - name: install systemd service become: true copy: src: nvapi.service dest: /etc/systemd/system/nvapi.service - name: Reload systemd daemons, enable, and restart nvapi become: true systemd: name: nvapi daemon_reload: yes enabled: yes state: restarted ```

@ e3ba5e1a:5e433365

We all know and love our 12 (or 24) word seed phrases. They’re the basis of how most of us secure our Bitcoin (or other crypto holdings, more on that in a bit). Following up on a discussion of a recent Ledger hardware wallet phishing attack, I wanted to put together a quick post explaining how seed phrases work and the connection with other chains. Since most of the content is chain-agnostic, I'll mostly be talking about "blockchains" instead of Bitcoin. This will be semi-technical, caveat emptor! ## Public key cryptographic primitives Private key cryptography allows for two pairs of operations: * Encrypting a message using a public key, and decrypting it using the corresponding private key. * Signing a message using a private key, and validating the signature using the corresponding public key. Encryption is very rarely used in blockchains. Instead, signing of messages is the primary feature we use from private key cryptography. There are lots of different algorithms out there, but a bit of pseudocode will explain the high level concepts pretty well: ``` myPrivateKey := something // we'll explain where this comes from below myPublicKey := derivePublicKey(myPrivateKey) someMessage := b"deadbeef" // any arbitrary binary payload signature := signMessage(someMessage, myPrivateKey) isValid := validateSignature(someMessage, signature, myPublicKey) ``` The point here is that I can safely share my public key with the rest of the world, and the rest of the world cannot figure out what the corresponding private key is (at least before the heat death of the universe, assuming the cryptography is well designed). Then, using my private key, I can prove that a message was sent by someone who controls that private key. And anyone in the world can validate it. For the blockchain, this is the basis for signing transactions and sending funds. If I have 2 BTC, and I want to send 1 BTC to Alice, I can sign a transaction using my private key, and the network will know that the owner of the 2 BTC created that transaction. You might challenge this, and say that the private key could be hacked. This is true, and people lose funds like this all the time. This is another "feature" of the blockchain: whoever controls the keys controls the funds. Thus the phrase: not your keys, not your coins. This is a big difference between blockchain and TradFi (traditional finance). If someone hacks into my bank account and sends all my money to someone else, I'll probably be able to get the money back. On the blockchain, if they have your keys, your money is gone. The question is: where do the private keys come from? One possibility is to generate and store individual private keys for each and every wallet on each and every chain you ever use. But this would be a pain. The biggest pain would be with Bitcoin itself, where---for privacy reasons---we generally like to generate separate receiving and change addresses each time we receive and send funds. Having to write down each of those private keys separately would be a pain. We need a better system. ## Seed phrases A seed phrase is usually a set of 12 or 24 English words, taken from a dictionary of 1,024 words available. Seed phrases are specified by BIP-39, if you want to look up more details. Using that set of words, you can generate a large number. We call this large number the _entropy_, or the source of random data, that we use in the rest of our operations. In particular, this large number can be used to derive a private key using _derivation paths_. Derivation paths are another part of the BIP-39 standard. These look like `m/44'/118'/0'/0/0`. You can see more information on them [in BIP-44](https://github.com/bitcoin/bips/blob/master/bip-0044.mediawiki). But the basic idea is that you can take that big number from the seed phrase and generate a large number of different private keys. The different numbers in the derivation path indicate what path to use to produce a private key from this large number. The first number, 44, indicates the version of the standard. The next number is the _coin type_. In the example above, I used `118`, which is the default coin type for the Cosmos ecosystem. `60` is used in the Ethereum space, by contrast. And as the granddaddy of them all, Bitcoin holds the spot of honor at coin type 0. For a full list, check [SLIP-44](https://github.com/satoshilabs/slips/blob/master/slip-0044.md). Other numbers in that list can be used for deriving a wider range of wallets within the same coin type. In particular, the last `0` is typically called the _index_, and can be used for creating _numbered accounts_. Some common use cases: * Having a single seed phrase for bots, but allowing the bots to manage multiple wallets. * Using a single hardware wallet (like a [Ledger](https://www.ledger.com/)) but managing multiple accounts. * Generating a sequence of receiving and change addresses when interacting with the Bitcoin blockchain, in order to maintain some privacy. ## bech32 bech32 is a standard for representing binary data. It's not worth going into the details of how bech32 works here, but the important point is that it provides for a _human readable part_ (HRP) and a payload, and that the payload includes a checksum to avoid transcription errors. bech32 is used throughout the Cosmos ecosystem for encoding addresses. You can [use an online encoder](https://slowli.github.io/bech32-buffer/) to get a feel for this. As an example, if I specify an HRP of `snoy` and a payload of `deadbeef`, I get the wallet address `snoy1m6kmamcdn8yec`. Note that the `1` here represents the separation between the HRP and the encoded data. The question is: what data should we use for the payload? The obvious answer there would be the public key. Unfortunately public keys are large, and embedding an entire public key in the wallet address wouldn't scale well. Instead, we use a more complicated algorithm in most blockchains, including Bitcoin. You can [see more information on the bech32 Bitcoin wiki page](https://en.bitcoin.it/wiki/Bech32), which involves compressing keys and hashing with both the SHA256 and RIPEMD-160 algorithms. ## Bitcoin and other chains If you use most blockchain software (hardware wallets, software wallets, etc.), they'll use the standard coin types for the chain in question. You can always override that, and you can also choose to modify the index are any of the other numbers in the derivation path. The result will be a completely different private key, and therefore a completely different public key. If you use hardened components in your derivation path, it should be impossible for someone to find a connection between two generated public keys, thus giving you the privacy guarantees most Bitcoin wallet software provides with extra receiving and change addresses. This is also where xpub comes in with Bitcoin. For non-hardened subpaths, you can generate the full sequence of public keys from the xpub value. This allows you to get a read-only wallet that can generate all of the receiving and change addresses, without having to compromise your seed phrase or any private keys. ## The Ledger phishing attack Now that we've seen all that, let's come back to the Ledger phishing attack I linked at the beginning of this article. The way a Ledger hardware device is supposed to work is that the seed phrase and any generated private keys never leave the device. Instead, the private key is generated on the device and used to sign messages your computer sends over. If that's true, even if you are scammed out of some funds by mistakenly signing a message you shouldn't have, the damage is limited to that one message. Your seed phrase and private key should be safe. We also know that the Ledger devices don't fully work this way. The firmware on the device does in fact allow exporting the seed phrases for Ledger's recovery system. However, that should be a feature that needs explicit buy-in from the device's owner to activate. So how exactly did the user in question lose funds on the Bitcoin chain because of a phishing attack on Ethereum? I personally can only see three choices: 1. The user is lying and stole the funds himself 2. The user screwed up and lost their seed phrase and doesn't realize it 3. There's a fundamental security flaw in Ledger which allows the private keys and/or seed phrases to be taken off the device My bet is on (2), simply because it's simpler to assume that someone made a mistake than a device used to secure likely billions of dollars in funds has been compromised without massive reports of scams. But that's little more than conjecture on my part. So should you ditch your Ledger and move your funds to a different hardware wallet? I wouldn't do that yet. What I _would_ recommend, however, would be to upgrade your Bitcoin storage from a single hardware wallet to a multisig for better security. I'll put out another article on that process another time.

@ ee11a5df:b76c4e49

# Nostr 2? ## Breaking Changes in Nostr Nostr was a huge leap forward. But it isn't perfect. When developers notice a problem with nostr, they confer with each other to work out a solution to the problem. This is usually in the form of a NIP PR on the nips repo. Some problems are easy. Just add something new and optional. No biggie. Zaps, git stuff, bunkers... just dream it up and add it. Other problems can only be fixed by breaking changes. With a breaking change, the overall path forward is like this: Add the new way of doing it while preserving the old way. Push the major software to switch to the new way. Then deprecate the old way. This is a simplification, but it is the basic idea. It is how we solved markers/quotes/root and how we are upgrading encryption, among other things. This process of pushing through a breaking change becomes more difficult as we have more and more existing nostr software out there that will break. Most of the time what happens is that the major software is driven to make the change (usually by nostr:npub180cvv07tjdrrgpa0j7j7tmnyl2yr6yr7l8j4s3evf6u64th6gkwsyjh6w6), and the smaller software is left to fend for itself. A while back I introduced the BREAKING.md file to help people developing smaller lesser-known software keep up with these changes. ## Big Ideas But some ideas just can't be applied to nostr. The idea is too big. The change is too breaking. It changes something fundamental. And nobody has come up with a smooth path to move from the old way to the new way. And so we debate a bunch of things, and never settle on anything, and eventually nostr:npub180cvv07tjdrrgpa0j7j7tmnyl2yr6yr7l8j4s3evf6u64th6gkwsyjh6w6 makes a post saying that we don't really want it anyways 😉. As we encounter good ideas that are hard to apply to nostr, I've been filing them away in a repository I call "nostr-next", so we don't forget about them, in case we ever wanted to start over. It seems to me that starting over every time we encountered such a thing would be unwise. However, once we collect enough changes that we couldn't reasonably phase into nostr, then a tipping point is crossed where it becomes worthwhile to start over. In terms of the "bang for the buck" metaphor, the bang becomes bigger and bigger but the buck (the pain and cost of starting over) doesn't grow as rapidly. ## WHAT? Start over? IMHO starting over could be very bad if done in a cavalier way. The community could fracture. The new protocol could fail to take off due to lacking the network effect. The odds that a new protocol catches on are low, irrespective of how technically superior it could be. So the big question is: can we preserve the nostr community and it's network effect while making a major step-change to the protocol and software? I don't know the answer to that one, but I have an idea about it. I think the new-protocol clients can be dual-stack, creating events in both systems and linking those events together via tags. The nostr key identity would still be used, and the new system identity too. This is better than things like the mostr bridge because each user would remain in custody of their own keys. ## The nitty gritty Here are some of the things I think would make nostr better, but which nostr can't easily fix. A lot of these ideas have been mentioned before by multiple people and I didn't give credit to all of you (sorry) because my brain can't track it all. But I've been collecting these over time at https://github.com/mikedilger/nostr-next * Events as CBOR or BEVE or MsgPack or a fixed-schema binary layout... anything but JSON text with its parsing, it's encoding ambiguity, it's requirement to copy fields before hashing them, its unlimited size constraints. (me, nostr:npub1xtscya34g58tk0z605fvr788k263gsu6cy9x0mhnm87echrgufzsevkk5s) * EdDSA ed25519 keys instead of secp256k1, to enable interoperability with a bunch of other stuff like ssh, pgp, TLS, Mainline DHT, and many more, plus just being better cryptography (me, Nuh, Orlovsky, except Orlovsky wanted Ristretto25519 for speed) * Bootstrapping relay lists (and relay endpoints) from Mainline DHT (nostr:npub1jvxvaufrwtwj79s90n79fuxmm9pntk94rd8zwderdvqv4dcclnvs9s7yqz) * Master keys and revocable subkeys / device keys (including having your nostr key as a subkey) * Encryption to use different encryption-specific subkeys and ephemeral ones from the sender. * Relay keypairs, TLS without certificates, relays known by keypair instead of URL * Layered protocol (separate core from applications) * Software remembering when they first saw an event, for 2 reasons, the main one being revocation (don't trust the date in the event, trust when you first saw it), the second being more precise time range queries. * Upgrade/feature negotiation (HTTP headers prior to starting websockets) * IDs starting with a timestamp so they are temporally adjacent (significantly better database performance) (Vitor's idea) * Filters that allow boolean expressions on tag values, and also ID exclusions. Removing IDs from filters and moving to a GET command. * Changing the transport (I'm against this but I know others want to) ## What would it look like? Someone (Steve Farroll) has taken my nostr-next repo and turned it into a proposed protocol he calls [Mosaic](https://github.com/SteveFarroll/mosaic-spec). I think it is quite representative of that repo, as it already includes most of those suggestions, so I've been contributing to it. Mosaic spec is rendered [here](https://stevefarroll.github.io/mosaic-spec/). Of course, where Mosaic stands right now it is mostly my ideas (and Steve's), it doesn't have feedback or input from other nostr developers yet. That is what this blog post is about. I think it is time for other nostr devs to be made aware of this thing. It is currently in the massive breaking changes phase. It might not look that way because of the detail and refinement of the documentation, but indeed everything is changing rapidly. It probably has some bad ideas and is probably missing some great ideas that you have. Which is why this is a good time for other devs to start taking a look at it. It is also the time to debate meta issues like "are you crazy Mike?" or "no we have to just break nostr but keep it nostr, we can't dual-stack" or whatever. Personally I think mosaic-spec should develop and grow for quite a while before the "tipping point" happens. That is, I'm not sure we should jump in feet first yet, but rather we build up and refine this new protocol and spend a lot of time thinking about how to migrate smoothly, and break it a lot while nobody is using it. So you can just reply to this, or DM me, or open issues or PRs at [Mosaic](https://github.com/SteveFarroll/mosaic-spec), or just whisper to each other while giving me the evil eye.

@ a012dc82:6458a70d

**Table Of Content** - The Predictable Dance of Bitcoin's Price - Economic Cycles and Their Influence on Bitcoin - The Role of Bitcoin Halving in These Cycles - Echoes of the 2015-2017 Pre-Bull Run Phase - A Glimpse into the Future: An Optimistic Outlook with Caveats - Conclusion - FAQ In the dynamic world of financial assets, patterns often emerge that hint at the future trajectory of popular investments, especially Bitcoin. A recent deep dive into Bitcoin's behavior suggests that its current price action is reminiscent of its performance between 2015 and 2017. For those who've been tracking its journey, this might evoke a sense of déjà vu. Let's unpack this captivating observation. **The Predictable Dance of Bitcoin's Price** Delphi Digital, a renowned research firm, recently shed light on the intriguing consistency of price trends within the crypto market. Their findings suggest that Bitcoin's current consolidation around the $30,000 mark mirrors its behavior from a few years ago. If history is any guide, we might be gearing up for another all-time high (ATH) for Bitcoin by the end of 2024. **Economic Cycles and Their Influence on Bitcoin:** One cannot discuss Bitcoin's price without considering broader economic trends. Delphi's analysis highlights the cyclical nature of the cryptocurrency market. These cycles, often spanning four years, showcase a pattern: Bitcoin reaches a new ATH, faces a significant drop (often around 80%), bottoms out a year later, and then embarks on a two-year recovery journey. This culminates in another price rally, leading to a fresh ATH. Interestingly, Bitcoin's price peaks often align with changes in the business cycle, as reflected by the ISM Manufacturing Index. When Bitcoin is at its peak, the ISM shows signs of maxing out, and network activities like transaction volumes reach their zenith. Conversely, when the business cycle signals a rebound, Bitcoin's network activity follows suit. **The Role of Bitcoin Halving in These Cycles:** For those unfamiliar, Bitcoin halving is an event where the reward for mining new blocks is halved, effectively cutting the rate at which new Bitcoins are created. Delphi's report emphasizes the significance of this event in the four-year cycles. Historically, halvings have taken place roughly 18 months after Bitcoin hits its bottom and about seven months before a new ATH. This pattern suggests that the next ATH for Bitcoin could be around the corner, coinciding with the upcoming halving in 2024. **Echoes of the 2015-2017 Pre-Bull Run Phase:** The parallels between Bitcoin's current market environment and the 2015-2017 phase are hard to ignore. Both periods exhibit similar market behaviors, economic indicators, and historical trends. The report even notes that trading patterns in broader markets, like the S&P 500, mirror those observed during 2015-2017. Such patterns persisted even during uncertain times, reinforcing the sentiment of that era. **A Glimpse into the Future: An Optimistic Outlook with Caveats:** Delphi's comprehensive analysis paints a hopeful picture for the crypto market. The prediction of a new ATH by the end of 2024, backed by historical halving patterns and economic indicators, strengthens the case for a cycle similar to 2015-2017. The anticipated Bitcoin halving in 2024 further supports the possibility of a bull market by that year's end. However, as with all predictions, there are inherent risks and uncertainties. Yet, the overall sentiment for the crypto market in the upcoming months seems promising, given the historical patterns and current indicators. **Conclusion** For Bitcoin enthusiasts and investors, understanding these patterns and market behaviors can offer valuable insights. While the future remains unpredictable, recognizing these historical parallels can provide a roadmap of sorts. As the saying goes, history often rhymes, and in the case of Bitcoin, it seems to be singing a familiar tune. So, hang tight, folks! The spirit of 2015-2017 might just be making a comeback. **FAQ** **What does the recent research by Delphi Digital suggest about Bitcoin's price?** The research indicates that Bitcoin's current price action mirrors its behavior between 2015 and 2017, hinting at a potential all-time high by the end of 2024. **How do economic cycles influence Bitcoin's price?** Economic cycles, especially as indicated by the ISM Manufacturing Index, often align with Bitcoin's price peaks and network activity. **What is Bitcoin halving, and why is it significant?** Bitcoin halving is an event where the reward for mining new blocks is halved. Historically, halvings have been key indicators of upcoming all-time highs for Bitcoin. **Are there similarities between the current market environment and the 2015-2017 phase?** Yes, both periods exhibit similar market behaviors, economic indicators, and historical trends, suggesting a potential bull market in the near future. **That's all for today** **If you want more, be sure to follow us on:** **NOSTR: croxroad@getalby.com** **X: [@croxroadnews](https://x.com/croxroadnewsco)** **Instagram: [@croxroadnews.co](https://www.instagram.com/croxroadnews.co/)** **Youtube: [@croxroadnews](https://www.youtube.com/@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.*

@ 1989034e:b9c4276b

Bitcoin is hope. Bitcoiners bring hope. The following is a collection of my thoughts following The Calgary Sat Market of December 2024. It is also a call to action for Bitcoiners near and far to join us - either in person by visiting - or spiritually by replicating what we are doing. <img src="https://blossom.primal.net/cda0937dc8dcd7ca56db8ce13a74f16389d939a2ee67d7e08ae0c3835f30f240.jpg"> I'm sitting here, smiling ear to ear, absolutely brimming with hope for the future after hosting today's Sat Market in Calgary, Alberta. <img src="https://blossom.primal.net/31d1d13659749590d0296dedaef55d7590896f6fa1970c772e3039e0810dfbdd.jpg"> ##### Context For Anyone Unfamiliar One year ago we put together an initiative to build our own Bitcoin circular economy here in the city. We went to the local meetup and made the case to everyone: “You all understand Bitcoin is better money, you all have skills and businesses, you all currently earn dollars and convert them to Bitcoin. Let's cut out that middle step and build something together!” **The Sat Market** was born. <img src="https://blossom.primal.net/1636980f79cbe61464836373208f7d4a21ea8213dd6e7fdfbe0f011ad264372c.jpg"> The response over the past calendar year has been wonderful. Today's event boasted 40 vendors, consisting of **farmers, tradesmen, artists, precious metals dealers, massage therapists, personal trainers, wellness coaches, authors, jewellers, homesteaders, lawyers, dentists, plumbers** and much much more. People came to Calgary for the market from **Vancouver, Edmonton, Winnipeg, Toronto, Montreal and many other places**. We've had people from other countries begin to recognize what is happening here, wanting to visit. <img src="https://blossom.primal.net/00dccb692b6bdee02ee4bce20c337e896a4c34bfbc9ac29abaecf04508a6f7a3.jpg"> I’ve been living on Bitcoin myself since 2020. While technically possible, I often require some much appreciated services that allow me to pay bills, buy gift cards, and otherwise use some type of middle-man in order to make it work. The Sat Market is beginning to change that dynamic. Just at this most recent event I was able to purchase: - Knitted winter gear - Apparel (hats and shirts) - Custom art - Candles and home decor - Full chickens, eggs, hot sauce, mustard, bacon, ground pork, jerky, baked goods and many other delicious items - PLUS an on-site massage! <img src="https://blossom.primal.net/6f3bcff92da94d2ae38aef3dac6fc5d43a2bad8d366460e0ad30bc907ea7fb41.jpg"> This event wasn’t just about buying and selling, though. It was also about GIVING! We hosted some fun quiz games with prizes and had the most BALLER raffle I’ve personally witnessed. Giveaways included: - Custom art pieces - Apparel Artisan tea - Hypnosis sessions - A free hour with Bitcoin Mentor - Jewelry pieces - 20 Tapsigners - 30 packs of BTC Trading Cards (Genesis packs) - 14 Coldcard Q’s - A 10 OZ bar of Silver I estimate that we gave away over $6000 worth of stuff. People were over the moon! <img src="https://blossom.primal.net/52a89790256454c0db41e18e484836701cdf05a870b2d86b09f1ecffb5220482.jpg"> I believe that in order to become truly resilient, the time has come to put our money quite literally where our mouths are. Any movement can be stopped when it requires you to rely on permissioned on/off ramps.... ...but when you have a community of like minded individuals, creating real and meaningful relationships on a local level, providing value to one another and using a money that is external to the existing system - YOU BECOME UNSHAKEABLE. <img src="https://blossom.primal.net/80f53804c3cfd9589d76248ee0828c35cba8eeecb26647d7bd01118f371829a4.jpg"> I encourage each and every one of you to make a Sat Market pilgrimage to our next event in Calgary near the end of June. It will be flanked by a group excursion to the Canadian Rockies (1 hr drive away), The Bitcoin Rodeo (a pretty based local conference), a workshop day by Bitcoin Mentor (likely also in Banff), and plenty of other community led events. ## Come, participate, contribute, and replicate. <img src="https://blossom.primal.net/6c905e292cba71fe22ad3b5129434aa78c3cdfa9c331aeff0969a18ae7f228f6.jpg"> This project has been entirely funded out of my own pocket and the voluntary contributions of merchant participants. If you feel inclined to zap this post, any sats will go towards making our next market the absolute best it can be. <img src="https://blossom.primal.net/90ff45f54069f34fba815be580aaf126f46ca790d558c3fc20d011074be93db1.jpg"> What we are doing here is special. What we are doing here is exciting. What we are doing here is working. What we are doing here IS HOPE. #### We'll see you at the next Sat Market. ## KEEP UP WITH WHAT WE'RE DOING! Please visit and share our website: [www.bitcoinsatmarket.com](https://www.bitcoinsatmarket.com/) Please follow us on: Nostr: npub12exjy0qp2pytsgrnaqrg26qj55epun8l2unyfjvhyxn2k2sx0xaqt2rd2h X: [BTCSatMarket](https://x.com/BTCSatMarket) Enjoy these photos from our wonderful event! <img src="https://blossom.primal.net/349e0b06bb6b44c55c4e8a374c87b48df443fa1d565608f40cd85cb7afee70df.jpg"> <img src="https://blossom.primal.net/c16adc8665faf59256b3ea2c5cd276e722c97b8c6b36d58878af074bff365e0d.jpg"> <img src="https://blossom.primal.net/adbec3f034189476c76a087a64d8b3877f783098cdf266c82d3f90bebaef5b52.jpg"> <img src="https://blossom.primal.net/fc330b9fe93459bd09dd592c7dcd74146511fd55345c765f862bae9d69cc5d91.jpg"> <img src="https://blossom.primal.net/60339caa40b92077f77cc8128302398c503dce41c73026ed12adbdab43e7bea2.jpg"> <img src="https://blossom.primal.net/f38b994d6675a73e0f4a6064a685238af1e4a4193d9d14c95eb5384854e16a51.jpg"> <img src="https://blossom.primal.net/1aac52f87e81ffb77e819492be0d0778730010386b89703804f42f56d9a04015.jpg"> <img src="https://blossom.primal.net/1c5a8295f02809e19aefe0322542b64516a6099e6d02906506c2288fe5087704.jpg"> <img src="https://blossom.primal.net/b492a102784c62e2b5f6cd077dfd6604d9a305e0ef331361b4d6b244bcbf29f7.jpg"> <img src="https://blossom.primal.net/47a12f08724104cce3d712c8e3e52746941dcebf6b67daa3ecb1603b5f71b3e3.jpg"> <img src="https://blossom.primal.net/cf668ea6e75be9d7039bc648c3c6f8eb970b9a83169499d7d8ab695d66fc6028.jpg"> <img src="https://blossom.primal.net/8d62ef498cae905aa18ee82f70566831e1cde49303a495695e1b4dd522b3a0e6.jpg"> <img src="https://blossom.primal.net/dd59b1c3e2f9a19d2ccfdd966ce01c996a0630d26ffea125cb18f2cf7ef50e00.jpg"> <img src="https://blossom.primal.net/6fcb6afe670dee8b42146e7822b77d4f52ffba7a34086e4a69b3681df94938f0.jpg"> <img src="https://blossom.primal.net/efcf9adf0714818c83a1365276fa33fa7d38626e94aed12d5f4d4831c604e9d6.jpg"> <img src="https://blossom.primal.net/5b2db42861ae43a3c1d563045caac5933c75049911d3d6c42af6c222bcf847b3.jpg"> <img src="https://blossom.primal.net/dee2cc9469023dbc33047f7b964ac848a443c561643a34939ba59927e6d17696.jpg"> <img src="https://blossom.primal.net/bee65210a8fd679d59dc4cbb9277f2a0aea11737e98d02fbd2ff79d06df2b8d4.jpg"> <img src="https://blossom.primal.net/5141a04a06bdba28b1e8fcead10151cbb31f2e0f81bb9c663e3558693a01904d.jpg">

@ 2f5de000:2f9bcef1

This Week I immersed myself in Bitcoin from multiple angles-technical, societal and personal. The journey included a marathon 32-hours of listening to [Rabbit Hole Recap (RHR)](https://fountain.fm/show/VDaMppQRUBZioj2XkaLn), an essential resource for Bitcoin insights. It's worth noting that I started from the begining and plan to make my way through the whole catalogue. Marty and Matt's timestamps, along with contributions from their guests, served as my roadmap. Using Fountain to stream, I also streamed sats-a small but extraordinary feature that allows users to stacks sats while compensating cretors directly through fractional donations. ## Revisiting Speculative Attack by Pierre Rochard (2014) Now that [*Speculative Attack Season 2*](https://nakamotoinstitute.org/mempool/speculative-attack-season-2/) *(which I've not read yet)* has been released. I took the time to read Pierre Rochards influential essay, [*Speculative Attack*](https://nakamotoinstitute.org/mempool/speculative-attack/) and reflected on its timeless insights. Rochard argues that Bitcoin adoption isn't dependent on technological advancements or consumer preferences, but on economic realities. As fiat currencies weaken, Bitcoin won't enter the mainstream by persuasion but by necessity. Critics continue to underestimate Bitcoin's inevitability due to their fiat biases and lack of financial insight. This year alone, mainstream media has been compelled to discuss Bitcoin-notably to Trump's endorsement of 'crypto.' Despite their attempts to shape narratives to suit their ideal visions, they've had no choice but to engage with Bitcoin's growing influence.\ \ As Parker aptly puts it 'Gradually, The Suddenly' ## Wassabi Wallet and the Privacy Imperative An RHR interview (from early in the catalogue) with guest Adam Ficsor, CTO and Co-founder of Wassabi Wallet, sparked a deeper consideration of my digital footprint. Like many, I've spent years online neglecting privacy in favour of convenience. The discussion on CoinJoins reminded me of the importance of prioritising privacy, not just romanticising it. Improving operational security (opsec) is now a personal focus. Resources like Jameson's *Cypherpunk Cogitations* and the Bitcoin Optech newsletter offer valuable guidance. While I've exercised caution, I recognise a need to address my laziness with opsec and take meaningful steps to protect my privacy. Time will reveal the results of these efforts. ## Caribbean Slavery amd Centralised Platforms While exploring historical systems of control, I delved into the brutal realities of [New World slavery in the British Caribbean](https://aeon.co/ideas/how-did-slaveholders-in-the-caribbean-maintain-control). Enslaved elites, like drivers, were granted limited privileges to maintain order, creating divisions within the community. This divide-and-rule strategy highlights the fragility of oppressive frameworks, which began to crumble with events like the Hatian Revolution and humanitarian activism. Interestingly, similar dynamics are visible with centralised plaforms like Twitter, LinkedIn, and Instagram. Verified accounts (the "blue checks") act as mordern day 'elites' with perceived freedoms. However, their autonomy is limited by the platforms centralised authority. Challenging the rules risks censorship and cancellation, proving their freedom is an illusion subject to the will of their overseers. Enhancing the argument further for protocols like Nostr to help people win back their freedoms.

@ 6f6b50bb:a848e5a1

Che cosa significherebbe trattare l'IA come uno strumento invece che come una persona? Dall’avvio di ChatGPT, le esplorazioni in due direzioni hanno preso velocità. La prima direzione riguarda le capacità tecniche. Quanto grande possiamo addestrare un modello? Quanto bene può rispondere alle domande del SAT? Con quanta efficienza possiamo distribuirlo? La seconda direzione riguarda il design dell’interazione. Come comunichiamo con un modello? Come possiamo usarlo per un lavoro utile? Quale metafora usiamo per ragionare su di esso? La prima direzione è ampiamente seguita e enormemente finanziata, e per una buona ragione: i progressi nelle capacità tecniche sono alla base di ogni possibile applicazione. Ma la seconda è altrettanto cruciale per il campo e ha enormi incognite. Siamo solo a pochi anni dall’inizio dell’era dei grandi modelli. Quali sono le probabilità che abbiamo già capito i modi migliori per usarli? Propongo una nuova modalità di interazione, in cui i modelli svolgano il ruolo di applicazioni informatiche (ad esempio app per telefoni): fornendo un’interfaccia grafica, interpretando gli input degli utenti e aggiornando il loro stato. In questa modalità, invece di essere un “agente” che utilizza un computer per conto dell’essere umano, l’IA può fornire un ambiente informatico più ricco e potente che possiamo utilizzare. ### Metafore per l’interazione Al centro di un’interazione c’è una metafora che guida le aspettative di un utente su un sistema. I primi giorni dell’informatica hanno preso metafore come “scrivanie”, “macchine da scrivere”, “fogli di calcolo” e “lettere” e le hanno trasformate in equivalenti digitali, permettendo all’utente di ragionare sul loro comportamento. Puoi lasciare qualcosa sulla tua scrivania e tornare a prenderlo; hai bisogno di un indirizzo per inviare una lettera. Man mano che abbiamo sviluppato una conoscenza culturale di questi dispositivi, la necessità di queste particolari metafore è scomparsa, e con esse i design di interfaccia skeumorfici che le rafforzavano. Come un cestino o una matita, un computer è ora una metafora di se stesso. La metafora dominante per i grandi modelli oggi è modello-come-persona. Questa è una metafora efficace perché le persone hanno capacità estese che conosciamo intuitivamente. Implica che possiamo avere una conversazione con un modello e porgli domande; che il modello possa collaborare con noi su un documento o un pezzo di codice; che possiamo assegnargli un compito da svolgere da solo e che tornerà quando sarà finito. Tuttavia, trattare un modello come una persona limita profondamente il nostro modo di pensare all’interazione con esso. Le interazioni umane sono intrinsecamente lente e lineari, limitate dalla larghezza di banda e dalla natura a turni della comunicazione verbale. Come abbiamo tutti sperimentato, comunicare idee complesse in una conversazione è difficile e dispersivo. Quando vogliamo precisione, ci rivolgiamo invece a strumenti, utilizzando manipolazioni dirette e interfacce visive ad alta larghezza di banda per creare diagrammi, scrivere codice e progettare modelli CAD. Poiché concepiamo i modelli come persone, li utilizziamo attraverso conversazioni lente, anche se sono perfettamente in grado di accettare input diretti e rapidi e di produrre risultati visivi. Le metafore che utilizziamo limitano le esperienze che costruiamo, e la metafora modello-come-persona ci impedisce di esplorare il pieno potenziale dei grandi modelli. Per molti casi d’uso, e specialmente per il lavoro produttivo, credo che il futuro risieda in un’altra metafora: modello-come-computer. ### Usare un’IA come un computer Sotto la metafora modello-come-computer, interagiremo con i grandi modelli seguendo le intuizioni che abbiamo sulle applicazioni informatiche (sia su desktop, tablet o telefono). Nota che ciò non significa che il modello sarà un’app tradizionale più di quanto il desktop di Windows fosse una scrivania letterale. “Applicazione informatica” sarà un modo per un modello di rappresentarsi a noi. Invece di agire come una persona, il modello agirà come un computer. Agire come un computer significa produrre un’interfaccia grafica. Al posto del flusso lineare di testo in stile telescrivente fornito da ChatGPT, un sistema modello-come-computer genererà qualcosa che somiglia all’interfaccia di un’applicazione moderna: pulsanti, cursori, schede, immagini, grafici e tutto il resto. Questo affronta limitazioni chiave dell’interfaccia di chat standard modello-come-persona: - **Scoperta.** Un buon strumento suggerisce i suoi usi. Quando l’unica interfaccia è una casella di testo vuota, spetta all’utente capire cosa fare e comprendere i limiti del sistema. La barra laterale Modifica in Lightroom è un ottimo modo per imparare l’editing fotografico perché non si limita a dirti cosa può fare questa applicazione con una foto, ma cosa potresti voler fare. Allo stesso modo, un’interfaccia modello-come-computer per DALL-E potrebbe mostrare nuove possibilità per le tue generazioni di immagini. - **Efficienza.** La manipolazione diretta è più rapida che scrivere una richiesta a parole. Per continuare l’esempio di Lightroom, sarebbe impensabile modificare una foto dicendo a una persona quali cursori spostare e di quanto. Ci vorrebbe un giorno intero per chiedere un’esposizione leggermente più bassa e una vibranza leggermente più alta, solo per vedere come apparirebbe. Nella metafora modello-come-computer, il modello può creare strumenti che ti permettono di comunicare ciò che vuoi più efficientemente e quindi di fare le cose più rapidamente. A differenza di un’app tradizionale, questa interfaccia grafica è generata dal modello su richiesta. Questo significa che ogni parte dell’interfaccia che vedi è rilevante per ciò che stai facendo in quel momento, inclusi i contenuti specifici del tuo lavoro. Significa anche che, se desideri un’interfaccia più ampia o diversa, puoi semplicemente richiederla. Potresti chiedere a DALL-E di produrre alcuni preset modificabili per le sue impostazioni ispirati da famosi artisti di schizzi. Quando clicchi sul preset Leonardo da Vinci, imposta i cursori per disegni prospettici altamente dettagliati in inchiostro nero. Se clicchi su Charles Schulz, seleziona fumetti tecnicolor 2D a basso dettaglio. ### Una bicicletta della mente proteiforme La metafora modello-come-persona ha una curiosa tendenza a creare distanza tra l’utente e il modello, rispecchiando il divario di comunicazione tra due persone che può essere ridotto ma mai completamente colmato. A causa della difficoltà e del costo di comunicare a parole, le persone tendono a suddividere i compiti tra loro in blocchi grandi e il più indipendenti possibile. Le interfacce modello-come-persona seguono questo schema: non vale la pena dire a un modello di aggiungere un return statement alla tua funzione quando è più veloce scriverlo da solo. Con il sovraccarico della comunicazione, i sistemi modello-come-persona sono più utili quando possono fare un intero blocco di lavoro da soli. Fanno le cose per te. Questo contrasta con il modo in cui interagiamo con i computer o altri strumenti. Gli strumenti producono feedback visivi in tempo reale e sono controllati attraverso manipolazioni dirette. Hanno un overhead comunicativo così basso che non è necessario specificare un blocco di lavoro indipendente. Ha più senso mantenere l’umano nel loop e dirigere lo strumento momento per momento. Come stivali delle sette leghe, gli strumenti ti permettono di andare più lontano a ogni passo, ma sei ancora tu a fare il lavoro. Ti permettono di fare le cose più velocemente. Considera il compito di costruire un sito web usando un grande modello. Con le interfacce di oggi, potresti trattare il modello come un appaltatore o un collaboratore. Cercheresti di scrivere a parole il più possibile su come vuoi che il sito appaia, cosa vuoi che dica e quali funzionalità vuoi che abbia. Il modello genererebbe una prima bozza, tu la eseguirai e poi fornirai un feedback. “Fai il logo un po’ più grande”, diresti, e “centra quella prima immagine principale”, e “deve esserci un pulsante di login nell’intestazione”. Per ottenere esattamente ciò che vuoi, invierai una lista molto lunga di richieste sempre più minuziose. Un’interazione alternativa modello-come-computer sarebbe diversa: invece di costruire il sito web, il modello genererebbe un’interfaccia per te per costruirlo, dove ogni input dell’utente a quell’interfaccia interroga il grande modello sotto il cofano. Forse quando descrivi le tue necessità creerebbe un’interfaccia con una barra laterale e una finestra di anteprima. All’inizio la barra laterale contiene solo alcuni schizzi di layout che puoi scegliere come punto di partenza. Puoi cliccare su ciascuno di essi, e il modello scrive l’HTML per una pagina web usando quel layout e lo visualizza nella finestra di anteprima. Ora che hai una pagina su cui lavorare, la barra laterale guadagna opzioni aggiuntive che influenzano la pagina globalmente, come accoppiamenti di font e schemi di colore. L’anteprima funge da editor WYSIWYG, permettendoti di afferrare elementi e spostarli, modificarne i contenuti, ecc. A supportare tutto ciò è il modello, che vede queste azioni dell’utente e riscrive la pagina per corrispondere ai cambiamenti effettuati. Poiché il modello può generare un’interfaccia per aiutare te e lui a comunicare più efficientemente, puoi esercitare più controllo sul prodotto finale in meno tempo. La metafora modello-come-computer ci incoraggia a pensare al modello come a uno strumento con cui interagire in tempo reale piuttosto che a un collaboratore a cui assegnare compiti. Invece di sostituire un tirocinante o un tutor, può essere una sorta di bicicletta proteiforme per la mente, una che è sempre costruita su misura esattamente per te e il terreno che intendi attraversare. ### Un nuovo paradigma per l’informatica? I modelli che possono generare interfacce su richiesta sono una frontiera completamente nuova nell’informatica. Potrebbero essere un paradigma del tutto nuovo, con il modo in cui cortocircuitano il modello di applicazione esistente. Dare agli utenti finali il potere di creare e modificare app al volo cambia fondamentalmente il modo in cui interagiamo con i computer. Al posto di una singola applicazione statica costruita da uno sviluppatore, un modello genererà un’applicazione su misura per l’utente e le sue esigenze immediate. Al posto della logica aziendale implementata nel codice, il modello interpreterà gli input dell’utente e aggiornerà l’interfaccia utente. È persino possibile che questo tipo di interfaccia generativa sostituisca completamente il sistema operativo, generando e gestendo interfacce e finestre al volo secondo necessità. All’inizio, l’interfaccia generativa sarà un giocattolo, utile solo per l’esplorazione creativa e poche altre applicazioni di nicchia. Dopotutto, nessuno vorrebbe un’app di posta elettronica che occasionalmente invia email al tuo ex e mente sulla tua casella di posta. Ma gradualmente i modelli miglioreranno. Anche mentre si spingeranno ulteriormente nello spazio di esperienze completamente nuove, diventeranno lentamente abbastanza affidabili da essere utilizzati per un lavoro reale. Piccoli pezzi di questo futuro esistono già. Anni fa Jonas Degrave ha dimostrato che ChatGPT poteva fare una buona simulazione di una riga di comando Linux. Allo stesso modo, websim.ai utilizza un LLM per generare siti web su richiesta mentre li navighi. Oasis, GameNGen e DIAMOND addestrano modelli video condizionati sull’azione su singoli videogiochi, permettendoti di giocare ad esempio a Doom dentro un grande modello. E Genie 2 genera videogiochi giocabili da prompt testuali. L’interfaccia generativa potrebbe ancora sembrare un’idea folle, ma non è così folle. Ci sono enormi domande aperte su come apparirà tutto questo. Dove sarà inizialmente utile l’interfaccia generativa? Come condivideremo e distribuiremo le esperienze che creiamo collaborando con il modello, se esistono solo come contesto di un grande modello? Vorremmo davvero farlo? Quali nuovi tipi di esperienze saranno possibili? Come funzionerà tutto questo in pratica? I modelli genereranno interfacce come codice o produrranno direttamente pixel grezzi? Non conosco ancora queste risposte. Dovremo sperimentare e scoprirlo!Che cosa significherebbe trattare l'IA come uno strumento invece che come una persona? Dall’avvio di ChatGPT, le esplorazioni in due direzioni hanno preso velocità. La prima direzione riguarda le capacità tecniche. Quanto grande possiamo addestrare un modello? Quanto bene può rispondere alle domande del SAT? Con quanta efficienza possiamo distribuirlo? La seconda direzione riguarda il design dell’interazione. Come comunichiamo con un modello? Come possiamo usarlo per un lavoro utile? Quale metafora usiamo per ragionare su di esso? La prima direzione è ampiamente seguita e enormemente finanziata, e per una buona ragione: i progressi nelle capacità tecniche sono alla base di ogni possibile applicazione. Ma la seconda è altrettanto cruciale per il campo e ha enormi incognite. Siamo solo a pochi anni dall’inizio dell’era dei grandi modelli. Quali sono le probabilità che abbiamo già capito i modi migliori per usarli? Propongo una nuova modalità di interazione, in cui i modelli svolgano il ruolo di applicazioni informatiche (ad esempio app per telefoni): fornendo un’interfaccia grafica, interpretando gli input degli utenti e aggiornando il loro stato. In questa modalità, invece di essere un “agente” che utilizza un computer per conto dell’essere umano, l’IA può fornire un ambiente informatico più ricco e potente che possiamo utilizzare. ### Metafore per l’interazione Al centro di un’interazione c’è una metafora che guida le aspettative di un utente su un sistema. I primi giorni dell’informatica hanno preso metafore come “scrivanie”, “macchine da scrivere”, “fogli di calcolo” e “lettere” e le hanno trasformate in equivalenti digitali, permettendo all’utente di ragionare sul loro comportamento. Puoi lasciare qualcosa sulla tua scrivania e tornare a prenderlo; hai bisogno di un indirizzo per inviare una lettera. Man mano che abbiamo sviluppato una conoscenza culturale di questi dispositivi, la necessità di queste particolari metafore è scomparsa, e con esse i design di interfaccia skeumorfici che le rafforzavano. Come un cestino o una matita, un computer è ora una metafora di se stesso. La metafora dominante per i grandi modelli oggi è modello-come-persona. Questa è una metafora efficace perché le persone hanno capacità estese che conosciamo intuitivamente. Implica che possiamo avere una conversazione con un modello e porgli domande; che il modello possa collaborare con noi su un documento o un pezzo di codice; che possiamo assegnargli un compito da svolgere da solo e che tornerà quando sarà finito. Tuttavia, trattare un modello come una persona limita profondamente il nostro modo di pensare all’interazione con esso. Le interazioni umane sono intrinsecamente lente e lineari, limitate dalla larghezza di banda e dalla natura a turni della comunicazione verbale. Come abbiamo tutti sperimentato, comunicare idee complesse in una conversazione è difficile e dispersivo. Quando vogliamo precisione, ci rivolgiamo invece a strumenti, utilizzando manipolazioni dirette e interfacce visive ad alta larghezza di banda per creare diagrammi, scrivere codice e progettare modelli CAD. Poiché concepiamo i modelli come persone, li utilizziamo attraverso conversazioni lente, anche se sono perfettamente in grado di accettare input diretti e rapidi e di produrre risultati visivi. Le metafore che utilizziamo limitano le esperienze che costruiamo, e la metafora modello-come-persona ci impedisce di esplorare il pieno potenziale dei grandi modelli. Per molti casi d’uso, e specialmente per il lavoro produttivo, credo che il futuro risieda in un’altra metafora: modello-come-computer. ### Usare un’IA come un computer Sotto la metafora modello-come-computer, interagiremo con i grandi modelli seguendo le intuizioni che abbiamo sulle applicazioni informatiche (sia su desktop, tablet o telefono). Nota che ciò non significa che il modello sarà un’app tradizionale più di quanto il desktop di Windows fosse una scrivania letterale. “Applicazione informatica” sarà un modo per un modello di rappresentarsi a noi. Invece di agire come una persona, il modello agirà come un computer. Agire come un computer significa produrre un’interfaccia grafica. Al posto del flusso lineare di testo in stile telescrivente fornito da ChatGPT, un sistema modello-come-computer genererà qualcosa che somiglia all’interfaccia di un’applicazione moderna: pulsanti, cursori, schede, immagini, grafici e tutto il resto. Questo affronta limitazioni chiave dell’interfaccia di chat standard modello-come-persona: Scoperta. Un buon strumento suggerisce i suoi usi. Quando l’unica interfaccia è una casella di testo vuota, spetta all’utente capire cosa fare e comprendere i limiti del sistema. La barra laterale Modifica in Lightroom è un ottimo modo per imparare l’editing fotografico perché non si limita a dirti cosa può fare questa applicazione con una foto, ma cosa potresti voler fare. Allo stesso modo, un’interfaccia modello-come-computer per DALL-E potrebbe mostrare nuove possibilità per le tue generazioni di immagini. Efficienza. La manipolazione diretta è più rapida che scrivere una richiesta a parole. Per continuare l’esempio di Lightroom, sarebbe impensabile modificare una foto dicendo a una persona quali cursori spostare e di quanto. Ci vorrebbe un giorno intero per chiedere un’esposizione leggermente più bassa e una vibranza leggermente più alta, solo per vedere come apparirebbe. Nella metafora modello-come-computer, il modello può creare strumenti che ti permettono di comunicare ciò che vuoi più efficientemente e quindi di fare le cose più rapidamente. A differenza di un’app tradizionale, questa interfaccia grafica è generata dal modello su richiesta. Questo significa che ogni parte dell’interfaccia che vedi è rilevante per ciò che stai facendo in quel momento, inclusi i contenuti specifici del tuo lavoro. Significa anche che, se desideri un’interfaccia più ampia o diversa, puoi semplicemente richiederla. Potresti chiedere a DALL-E di produrre alcuni preset modificabili per le sue impostazioni ispirati da famosi artisti di schizzi. Quando clicchi sul preset Leonardo da Vinci, imposta i cursori per disegni prospettici altamente dettagliati in inchiostro nero. Se clicchi su Charles Schulz, seleziona fumetti tecnicolor 2D a basso dettaglio. ### Una bicicletta della mente proteiforme La metafora modello-come-persona ha una curiosa tendenza a creare distanza tra l’utente e il modello, rispecchiando il divario di comunicazione tra due persone che può essere ridotto ma mai completamente colmato. A causa della difficoltà e del costo di comunicare a parole, le persone tendono a suddividere i compiti tra loro in blocchi grandi e il più indipendenti possibile. Le interfacce modello-come-persona seguono questo schema: non vale la pena dire a un modello di aggiungere un return statement alla tua funzione quando è più veloce scriverlo da solo. Con il sovraccarico della comunicazione, i sistemi modello-come-persona sono più utili quando possono fare un intero blocco di lavoro da soli. Fanno le cose per te. Questo contrasta con il modo in cui interagiamo con i computer o altri strumenti. Gli strumenti producono feedback visivi in tempo reale e sono controllati attraverso manipolazioni dirette. Hanno un overhead comunicativo così basso che non è necessario specificare un blocco di lavoro indipendente. Ha più senso mantenere l’umano nel loop e dirigere lo strumento momento per momento. Come stivali delle sette leghe, gli strumenti ti permettono di andare più lontano a ogni passo, ma sei ancora tu a fare il lavoro. Ti permettono di fare le cose più velocemente. Considera il compito di costruire un sito web usando un grande modello. Con le interfacce di oggi, potresti trattare il modello come un appaltatore o un collaboratore. Cercheresti di scrivere a parole il più possibile su come vuoi che il sito appaia, cosa vuoi che dica e quali funzionalità vuoi che abbia. Il modello genererebbe una prima bozza, tu la eseguirai e poi fornirai un feedback. “Fai il logo un po’ più grande”, diresti, e “centra quella prima immagine principale”, e “deve esserci un pulsante di login nell’intestazione”. Per ottenere esattamente ciò che vuoi, invierai una lista molto lunga di richieste sempre più minuziose. Un’interazione alternativa modello-come-computer sarebbe diversa: invece di costruire il sito web, il modello genererebbe un’interfaccia per te per costruirlo, dove ogni input dell’utente a quell’interfaccia interroga il grande modello sotto il cofano. Forse quando descrivi le tue necessità creerebbe un’interfaccia con una barra laterale e una finestra di anteprima. All’inizio la barra laterale contiene solo alcuni schizzi di layout che puoi scegliere come punto di partenza. Puoi cliccare su ciascuno di essi, e il modello scrive l’HTML per una pagina web usando quel layout e lo visualizza nella finestra di anteprima. Ora che hai una pagina su cui lavorare, la barra laterale guadagna opzioni aggiuntive che influenzano la pagina globalmente, come accoppiamenti di font e schemi di colore. L’anteprima funge da editor WYSIWYG, permettendoti di afferrare elementi e spostarli, modificarne i contenuti, ecc. A supportare tutto ciò è il modello, che vede queste azioni dell’utente e riscrive la pagina per corrispondere ai cambiamenti effettuati. Poiché il modello può generare un’interfaccia per aiutare te e lui a comunicare più efficientemente, puoi esercitare più controllo sul prodotto finale in meno tempo. La metafora modello-come-computer ci incoraggia a pensare al modello come a uno strumento con cui interagire in tempo reale piuttosto che a un collaboratore a cui assegnare compiti. Invece di sostituire un tirocinante o un tutor, può essere una sorta di bicicletta proteiforme per la mente, una che è sempre costruita su misura esattamente per te e il terreno che intendi attraversare. ### Un nuovo paradigma per l’informatica? I modelli che possono generare interfacce su richiesta sono una frontiera completamente nuova nell’informatica. Potrebbero essere un paradigma del tutto nuovo, con il modo in cui cortocircuitano il modello di applicazione esistente. Dare agli utenti finali il potere di creare e modificare app al volo cambia fondamentalmente il modo in cui interagiamo con i computer. Al posto di una singola applicazione statica costruita da uno sviluppatore, un modello genererà un’applicazione su misura per l’utente e le sue esigenze immediate. Al posto della logica aziendale implementata nel codice, il modello interpreterà gli input dell’utente e aggiornerà l’interfaccia utente. È persino possibile che questo tipo di interfaccia generativa sostituisca completamente il sistema operativo, generando e gestendo interfacce e finestre al volo secondo necessità. All’inizio, l’interfaccia generativa sarà un giocattolo, utile solo per l’esplorazione creativa e poche altre applicazioni di nicchia. Dopotutto, nessuno vorrebbe un’app di posta elettronica che occasionalmente invia email al tuo ex e mente sulla tua casella di posta. Ma gradualmente i modelli miglioreranno. Anche mentre si spingeranno ulteriormente nello spazio di esperienze completamente nuove, diventeranno lentamente abbastanza affidabili da essere utilizzati per un lavoro reale. Piccoli pezzi di questo futuro esistono già. Anni fa Jonas Degrave ha dimostrato che ChatGPT poteva fare una buona simulazione di una riga di comando Linux. Allo stesso modo, websim.ai utilizza un LLM per generare siti web su richiesta mentre li navighi. Oasis, GameNGen e DIAMOND addestrano modelli video condizionati sull’azione su singoli videogiochi, permettendoti di giocare ad esempio a Doom dentro un grande modello. E Genie 2 genera videogiochi giocabili da prompt testuali. L’interfaccia generativa potrebbe ancora sembrare un’idea folle, ma non è così folle. Ci sono enormi domande aperte su come apparirà tutto questo. Dove sarà inizialmente utile l’interfaccia generativa? Come condivideremo e distribuiremo le esperienze che creiamo collaborando con il modello, se esistono solo come contesto di un grande modello? Vorremmo davvero farlo? Quali nuovi tipi di esperienze saranno possibili? Come funzionerà tutto questo in pratica? I modelli genereranno interfacce come codice o produrranno direttamente pixel grezzi? Non conosco ancora queste risposte. Dovremo sperimentare e scoprirlo! Tradotto da:\ https://willwhitney.com/computing-inside-ai.htmlhttps://willwhitney.com/computing-inside-ai.html

@ 07804b78:c375c543

Japanese follows. 日本語はあとで。 This article is for the 14th day of [Nostr Advent Calendar 2024](https://adventar.org/calendars/10004) (relay blogging). The article for the 13th day was "[Open Sats 申請編](https://zenn.dev/konemono/articles/cb39fb7f302551)" (Applying for Open Sats) by mono-san. The article for the 14th day will be "[Nostrはじめました。](https://bewith.bz/?p=121)" (I started Nostr) by bro-san. # Thinking of Thingstr I've come up with an idea for Other Staff that I think is interesting (at least, for me), so I'm going to write about it. I actually wanted to show you the implementation and brag about it, but it's not solid enough to be implemented yet. The key idea is just “add a reaction to the WikiData ID”. ## WikiData There is a service called [WikiData](https://www.wikidata.org/). It is a knowledge base that provides structured data. You may be wondering what it is, but the important thing to understand here is that WikiData assigns identifiers to a fairly wide range of “objects” and “things”. So, if you can react to this, you can think of various applications just by thinking of it for a moment, right? For example, the anime series “There are too many losing heroines!” is assigned the ID `Q123819103`. The corresponding page is https://www.wikidata.org/wiki/Q123819103 . (NOTE: The canonical URI for entities on Wikidata is http://www.wikidata.org/entity/Q1142841. This is in accordance with Semantic Web conventions, and is not https, but http. Also, this URI does not necessarily match the actual address of the correspnding web page. Just an identifier. In most cases, it will redirect). ## What can wd do? For example, what about a website that records your anime viewing history? You can record what you want to watch with 👀, what you've already watched with ✅, and your favorites with ☆. You can also express your “likes” for production companies, staff, voice actors, etc. In this way, you can see what a particular user likes. This could be a movie, a book, a comic, an author, music, an idol group, a place, or food (Someone likes pork cutlet `Q1142841`). The fact that you can record everything in the same framework is what makes it interesting. ## What form of event should it be recorded as? There is probably room for discussion about how to record this information in a concrete way. The simplest way would be to use NIP-25's "Reactions to a website" kind:17 (a.k.a. Makibishi). How about something like this? ```json [ ["i", "wd:Q123819103", "http://www.wikidata.org/entity/Q123819103"], ] ``` Since NIP-73 has External Content IDs, it would be good if we could include WikiData here so that we could write `wd:Q123819103`. Actually, `isbn:` and other identifiers have already been defined, so it is possible to use the current NIP range to describe books (however, the authors do not have IDs. If we use WikiData as an ID, we can also describe reactions related to the author). Of course, it is not a matter of choosing one or the other, and it is also fine to add the ISBN tag at the same time as the WikiData tag for books. ## Search for recorded reactions So far, this is all very simple, but it would be inconvenient if we didn't include tags to mark subsets of reactions (for example, only those related to anime) so that we can query them together. When we try to create a site that is specialized for a certain purpose, we need to be able to extract the reactions that are necessary. On Wikidata, the predicate `wdt:P31` (instance of) is used to group together concepts that represent the same thing. For example, how about including this in the `l` tag? "There are too many losing heroines!" is a "Japanese television anime series (`Q63952888`)", so: ```json [ ["i", "wd:Q1142841", "http://www.wikidata.org/entity/Q1142841"], ["l", "wdt:P31 wd:Q63952888"] ] ``` UPDATE(2024-12-15): rnurachue-san suggested that `#l` or `#L` might be better for labeling (the first version used `#a`). I think that's a good idea, so I've updated the article. nostr:nevent1qgswamu0rsela0kwhj87p24ueapxdp04vzz7ar0pp6lfyq923t3l02cqyr9786635s60ra0f973nwv2sln2l74lqx4twdlgxfz2jgevpvsgtc9zwn6d However, when you think about creating an anime website, you may want to query both TV anime and anime films. This makes things more complicated. "Japanese TV anime series (`Q63952888`)" is a subclass (subclass of; `wdt:P279`) of "Anime series (`Q117467261`)", which is in turn a subclass of "Anime (`Q1107`)". However, if you were to embed this hierarchy in each reaction, it would waste a lot of space. The following query will get all the superclasses of "Japanese TV anime series (`Q63952888`)", but there are 54 of them. https://query.wikidata.org/#%23%20Subclass%20hierarchy%20traversal%20for%20Q63952888%0ASELECT%20%3Fitem%20%3FitemLabel%20%3Fsuperclass%20%3FsuperclassLabel%0AWHERE%20%7B%0A%20%20%23%20Starting%20class%0A%20%20wd%3AQ63952888%20wdt%3AP279%2a%20%3Fsuperclass%20.%0A%20%20BIND%28wd%3AQ63952888%20AS%20%3Fitem%29%0A%20%20SERVICE%20wikibase%3Alabel%20%7B%20bd%3AserviceParam%20wikibase%3Alanguage%20%22%5BAUTO_LANGUAGE%5D%2Cen%22.%20%7D%0A%7D%0AORDER%20BY%20%3Fsuperclass%0A So, I think it should be okay for practical purposes to embed `P31`s of the reaction target. In other words, if you search for "anime series `Q63952888`" and "anime movie `Q20650540`", that should be enough. Fortunately, the conditions for single-character tags work with OR, so you can query multiple tags at once. we'll have to try it to see how well it works in practice, though. ## Discussion: Which kind should I use? So far we have considered using kind:17, but we have not yet decided whether it is a good idea to mix Thingstr events with reactions to web pages. Also, there may be a debate over whether to record regular events or addressable events, depending on the purpose of use. For example, if you want to record the transition of viewing results and impressions on an anime viewing site, you should use regular events, and if you want to maintain the viewing status, you should use addressable events. What do you think? ## Other ideas If we can react to Nodes on [OpenStreetMap](https://www.openstreetmap.org/) using the same framework, we might be able to create something like [Swarm](https://swarmapp.com/). Since the views you want to see will differ depending on the purpose, it would be good to create various sites while having a consistent way of recording. Wouldn't that be the most Nostr-like thing? ## Summary I discussed how to use WikiData and OpenStreetMap as an ID infrastructure and realize various check-in and review services with a unified data model by using them on Nostr. Please let us know if you have any feedback. Or why not try implementing it? ---- この記事は [Nostr Advent Calendar 2024](https://adventar.org/calendars/10004) の14日目の記事です。13日目の記事はmonoさんによる「[Open Sats 申請編](https://zenn.dev/konemono/articles/cb39fb7f302551)」でした。15日目の記事はbroさんによる「[Nostrはじめました。](https://bewith.bz/?p=121)」です。 # Thingstrについて考えた 面白そうな（と勝手に思ってる） Other Staff のアイディアを思いついたので、書いてみます。 本当は実装を持ってきて自慢したかったのですが、まだふわっとしていて実装に落ちていません。 コアになるアイディアは「WikiData の ID に対して、Reactionをつける」これだけです。 ## WikiData [WikiData](https://www.wikidata.org/) というサービスがあります。構造化データを提供する知識ベースです。 なにそれ？という感じですが、ここで大事なのはWikiDataはかなり広範な「もの」「こと」に識別子(Identifier)を付与している、ということです。 だから、これにリアクションできれば、ぱっと思いつくだけでもいろいろな応用ができそうじゃないですか。 例えば、アニメシリーズ「負けヒロインが多すぎる！」には `Q123819103` というIDが振られています。これに対応するページとして https://www.wikidata.org/wiki/Q123819103 があります。 （ただし、WikiData のエンティティに対する canonical な URI は http://www.wikidata.org/entity/Q1142841 であることには注意が必要です。セマンティックウェブの作法で https ではなく http になっています。そして、このURIは必ずしもWebページのアドレス一致しません。大抵の場合はリダイレクトされます）。 ## なにができるの たとえば、アニメの視聴記録サイトはどうでしょう。👀は見たい作品、✅は視聴済み、☆はお気に入り、みたいに記録していく。制作会社、スタッフ、声優、...に対してLikeを表明したりできそうです。そうすると、あるユーザが何にLikeしているかわかります。 これが映画でもいいし、書籍、漫画、作家でもいいし、音楽でもいいし、アイドルグループでもいいし、場所でもいいし、食べ物でもいい（とんかつ `Q1142841` が好き、とか）。全部同じ枠組みで記録できるのが面白そうなところです。 ## どういうNostrイベントで記録する？ 具体的な記録の仕方には議論の余地があるでしょう。一番単純なのは、NIP-25の "Reactions to a website" kind:17 (Makibishi) を使う方法でしょうか。こんなのはどうでしょう。 ```json [ ["i", "wd:Q123819103", "http://www.wikidata.org/entity/Q123819103"], ] ``` NIP-73にExternal Content IDsがあるので、ここにWikiDataを入れられるようにして `wd:Q123819103` と書けるとよさそうです。実は `isbn:` などはすでに定義されているので、書籍に関しては現行のNIPの範囲でもうまいことできます（ただ、著者にはIDが振られていません。WikiDataをIDに使うと著者に関するリアクションも記述できます）。もちろん、どちらか一方を選ぶというものでもなくて、書籍にはWikiDataのタグと当時にISBNのタグを付与しておいてもいいと思います。 ## 記録されたリアクションを検索する ここまではシンプルでよいのですが、リアクションの部分集合（たとえばアニメに関連するものだけ、とか）をまとめてクエリできるように、目印となるタグを入れておかないと不便です。ある目的に特化したサイトを作ろうとしたとき、必要になるリアクションが抽出できるようにしておかないといけません。 WikiData では `wdt:P31` (instance of) という述語で、ある概念が何を表しているかをグルーピングしてくれています。例えばこれを`l`タグとかに含めておくのはどうでしょうか。 負けヒロインが多すぎる！は「日本のテレビアニメシリーズ(`Q63952888`)」なので、 ```json [ ["i", "wd:Q1142841", "http://www.wikidata.org/entity/Q1142841"], ["l", "wdt:P31 wd:Q63952888"] ] ``` みたいな感じで付与します。 UPDATE(2024-12-15): rnurachueさんからラベル付けには `#l` または `#L` のほうがよいかもという提案をいただきました。最初のバージョンでは `#a` を使用していました。そのとおりだと思ったので更新しました。 nostr:nevent1qgswamu0rsela0kwhj87p24ueapxdp04vzz7ar0pp6lfyq923t3l02cqyr9786635s60ra0f973nwv2sln2l74lqx4twdlgxfz2jgevpvsgtc9zwn6d ただ、アニメサイトを作ることを考えると、テレビアニメも劇場版アニメも両方クエリしたいこともありそうですよね。そうなると話が複雑になってきます。 「日本のテレビアニメシリーズ(`Q63952888`)」は「アニメシリーズ(`Q117467261`)」のサブクラス(subclass of; `wdt:P279`)で、それがさらに「アニメ(`Q1107`)」 のサブクラスになっています。ただ、この階層をいちいちリアクションに埋め込むのと大変なことになります。以下のようなクエリで「日本のテレビアニメシリーズ(`Q63952888`)」のすべての上位クラスが取れるのですが、54件もあります。 https://query.wikidata.org/#%23%20Subclass%20hierarchy%20traversal%20for%20Q63952888%0ASELECT%20%3Fitem%20%3FitemLabel%20%3Fsuperclass%20%3FsuperclassLabel%0AWHERE%20%7B%0A%20%20%23%20Starting%20class%0A%20%20wd%3AQ63952888%20wdt%3AP279%2a%20%3Fsuperclass%20.%0A%20%20BIND%28wd%3AQ63952888%20AS%20%3Fitem%29%0A%20%20SERVICE%20wikibase%3Alabel%20%7B%20bd%3AserviceParam%20wikibase%3Alanguage%20%22%5BAUTO_LANGUAGE%5D%2Cen%22.%20%7D%0A%7D%0AORDER%20BY%20%3Fsuperclass%0A なので、リアクション対象の`P31`を埋め込む、くらいで実用上は問題ないような気がします。つまり、検索するときに 「アニメシリーズ `Q63952888`」と「アニメ映画 `Q20650540`」を対象にすれば、十分では、ということです。幸い、一文字タグの条件はORで効くので、複数を並べて一度にクエリできます。実際にどのくらいうまく行くかはやってみないとわからないですが。 ## 議論: どの kind を使うべきか？ 一旦 kind 17 を使うことを考えてきましたが、Thingstr のイベントが Web ページに対するリアクションと混ざるのが良いことなのか、いまいち判断がついていません。 また、用途によって regular event で記録するべきか、それとも addressable event で記録すべきか、という議論もありそうです。 アニメ視聴サイトを例にあげるなら、視聴実績とか感想の変遷を記録したいならば regular event でしょうし、視聴の状態を保持したいならば addressable とするのがよさそうです。 どう思いますか？ ## 他のアイディア これと同じ枠組みで [OpenStreetMap](https://www.openstreetmap.org/) の Node に対してリアクションできるようにすれば [Swarm](https://swarmapp.com/) のようなものも実現できるかもしれません。 用途ごとに見たいビューは違うだろうから、一貫した記録の仕方を持ちつつ、色々なサイトを作ったらいいんじゃないでしょうか。それって最高にNostrっぽくないですか？ ## まとめ WikiDataやOpenStreetMapをID基盤として活用し、Nostr上でreactすることで、様々なチェックインサービス、レビューサービスを統一的なデータモデルで実現する方法について議論しました。フィードバックがあったら教えてください。むしろ実装してみてください。

@ 7c765d40:bd121d84

I have a feeling gold bugs aren't going to enjoy this next chapter. And the sad thing is that they are so damn close. They've been fighting this fight for decades now. They understand how broken our monetary system is. But their stubbornness will be their demise. In the last month alone, we've had some pretty catastrophic events in the gold market. With bitcoin-friendly President Trump about to take office in the US, they are considering selling their gold reserves to purchase bitcoin. According to Popular Mechanics, China recently discovered $83 billion worth of gold. Damn I forgot about Popular Mechanics. Their website looks like it's stuck in 1997 but the articles are all recent. Anyways. And the biggest news - coming from our favorite little country. El Salvador announced a gold discovery worth approximately $3 TRILLION dollars. This triggered a couple historic tweets from their President Bukele. First quote tweeting the announcement "And we'll dilute that thing like there's no tomorrow." And the next day quote tweeting another announcement "But what could they possibly do with that?" And for anyone who isn't familiar with El Salvador (aka The Savior), they were the first country to make bitcoin legal tender. After a few large smash buys, they have been buying 1 bitcoin every day. You can verify this on their customized mempool website. The market is about to be FLOODED with gold. Peter Schiff is losing his damn mind, claiming bitcoin is a "national security threat." The mainstream media talking heads are on a bitcoin war path. OUR PETS HEADS ARE FALLING OFF. Gold has historically been the best store of value that exists. Why? Because of it's scarcity. Until April 2024, when bitcoin officially passed gold as the scarcest asset. Gold (typically) has a 2% inflation rate. Bitcoin, as of the latest halving, now has less than 2% inflation. IF - and that's a big IF - countries start dumping their gold for bitcoin, what will happen to the market? Countries and central banks are the largest holders of gold. Who will pick up the slack? How many 20 year olds will be lining up at their local gold shop to buy some pet rocks? Gold has served it's purpose. It was the best asset to store wealth. Before bitcoin. Bitcoin can also be sent anywhere in the world in a matter of minutes - for a very low fee. Imagine trying to send 10 billion worth of gold across the world. Bitcoin is also highly divisible. You can't start shaving off a gold coin to pay for groceries. Unless maybe the grocery stores will start putting scales at the til. Haha. And most importantly, especially when talking about governments and central banks, bitcoin is verifiable. We have never been able to see or verify the gold reserves. How much gold is really in Fort Knox? We have absolutely no idea. It requires trust. How many people trust their government at this stage of the game? Bitcoin on the other hand, can be easily verified. This is important for the individuals, the banks, and the countries. El Salvador has a website where you can verify their bitcoin holdings. Check it out here! We have no idea how much gold really exists. We have an idea, but it's not very accurate - clearly. If they found $3 TRILLION worth of gold in the small country of El Salvador, how much gold you do think is waiting to be found on Mars? And how much bitcoin will we find on Mars? As a gold and silver holder myself, I am making the full switch into bitcoin. It just makes the most sense. And human eventually switch to the idea that makes the most sense. --- 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 008 on Fountain: https://www.fountain.fm/episode/nQb5z3PolahVwsPbYX4r --- Have a great day everyone! And remember, the only thing more scarce than bitcoin is time! Jor

@ b8a9df82:6ab5cbbd

Four weeks after Adopting Bitcoin wrapped up, I find myself back in Buenos Aires. While one of the main reasons for staying is avoiding the dreary Berlin winter, the other, much stronger reason, is the people. Anyone who knows me knows I’m a beach person through and through—dreaming of one day living in a house by the ocean. Argentina, with its economic quirks and geographical realities, isn’t exactly the ideal spot for that dream. Yet, here I am again, drawn not by the landscapes but by something far more meaningful: its people. When I first wrote about my experience at Labitconf, I mentioned "LaCrypta" a local Bitcoin community that captured my heart. For those unfamiliar, the name might sound like it’s tied to crypto, but it’s not—it simply means “The Crypt.” And when you visit their physical space in the heart of Buenos Aires, the name suddenly makes perfect sense. La Crypta isn’t just a community; it’s the beating heart of Bitcoin culture here. It’s a group of passionate people dedicated to development, education, and sharing knowledge about Bitcoin and the Nostr ecosystem. Their mission goes far beyond tech—it’s about empowerment, collaboration, and creating a space where ideas flourish. Before I arrived in Buenos Aires, I had already worked with some of the La Crypta crew remotely. From the very start, they were more than helpful—honestly, they saved me more times than I can count. Organizing, finding suppliers, translating, navigating cultural nuances—things that would’ve been impossible as a foreigner were made smooth thanks to their constant support. Even when cultural differences came into play, they did their best to accommodate my eager German punctuality. Sure, we had a couple of missed calls here and there (they’re South American, after all!), but we found a rhythm, and I learned to relax and embrace their way of doing things. I’ll never forget walking into the physical space for the first time. The house itself is a marvel—a 100-year-old gem tucked into the bustling city, its walls whispering history. Interestingly, it was originally built by Germans (I could tell right away), and every corner is rich with quirks and stories. Newcomers are given a guided tour, learning about the house’s past and its idiosyncrasies, which they’re then responsible for passing on to the next wave of visitors. It’s a brilliant tradition, one that fosters a sense of connection to the place. The charm of La Crypta’s space is undeniable—a century-old house surrounded by modern skyscrapers, standing out like a time capsule in the middle of the city. Of course, not everyone loves it. The neighbors occasionally complain about the raucous parties, even calling the police. But, as I’ve learned, in Argentina, there’s always a workaround for things like that. The real magic, though, isn’t in the house—it’s in the people. After weeks of working together remotely, meeting them in person for the first time was something special. There’s nothing quite like hugging the people you’ve shared so much time, effort, and anticipation with, knowing how deeply they care. They welcomed me with open arms, not just as a collaborator but as a friend. From day one, they’ve been my mental and emotional support system, offering far more than help with logistics. Their generosity, warmth, and genuine care reminded me that some of the most valuable things in life aren’t tied to money—they’re tied to human connection. We bonded in so many ways, but nothing quite tops their initiation ritual: mate. For the uninitiated, mate is a traditional South American drink with a very specific etiquette. You don’t say “thank you” unless you’re done, you don’t stir the straw, and, naturally, I did everything wrong at first. But despite their teasing, I genuinely fell in love with mate, even if they still can’t believe me! ## A home away from home As I write this, just 10 days before Christmas, I’m missing my family and friends back home in Berlin. On quiet Saturday mornings like this, I wish I could just jump on a plane and hug them, feel the warmth of familiarity. But even in these moments of longing, I find comfort here. The people of La Crypta have become a surrogate family, filling my heart with their kindness and making the distance feel a little less heavy. This experience has been life-changing. No matter where I go from here, I’ll carry a piece of La Crypta and Buenos Aires with me. For anyone who ever has the chance to visit, I urge you to experience this for yourself. The people, the place, the culture—it’s something that can’t be explained, only felt. It’s not just a community; it’s a family. And for that, I’ll forever be grateful.

@ dd664d5e:5633d319

 Christmas season hasn't actually started, yet, in Roman #Catholic Germany. We're in Advent until the evening of the 24th of December, at which point Christmas begins (with the Nativity, at Vespers), and continues on for 40 days until Mariä Lichtmess (Presentation of Christ in the temple) on February 2nd.  It's 40 days because that's how long the post-partum isolation is, before women were allowed back into the temple (after a ritual cleansing).  That is the day when we put away all of the Christmas decorations and bless the candles, for the next year. (Hence, the British name "Candlemas".) It used to also be when household staff would get paid their cash wages and could change employer. And it is the day precisely in the middle of winter.  Between Christmas Eve and Candlemas are many celebrations, concluding with the Twelfth Night called Epiphany or Theophany. This is the day some Orthodox celebrate Christ's baptism, so traditions rotate around blessing of waters.  The Monday after Epiphany was the start of the farming season, in England, so that Sunday all of the ploughs were blessed, but the practice has largely died out.  Our local tradition is for the altar servers to dress as the wise men and go door-to-door, carrying their star and looking for the Baby Jesus, who is rumored to be lying in a manger.  They collect cash gifts and chocolates, along the way, and leave the generous their powerful blessing, written over the door. The famous 20 * C + M + B * 25 blessing means "Christus mansionem benedicat" (Christ, bless this house), or "Caspar, Melchior, Balthasar" (the names of the three kings), depending upon who you ask. They offer the cash to the Baby Jesus (once they find him in the church's Nativity scene), but eat the sweets, themselves. It is one of the biggest donation-collections in the world, called the "Sternsinger" (star singers). The money goes from the German children, to help children elsewhere, and they collect around €45 million in cash and coins, every year.  As an interesting aside: The American "groundhog day", derives from one of the old farmers' sayings about Candlemas, brought over by the Pennsylvania Dutch. It says, that if the badger comes out of his hole and sees his shadow, then it'll remain cold for 4 more weeks. When they moved to the USA, they didn't have any badgers around, so they switched to groundhogs, as they also hibernate in winter.

@ a39d19ec:3d88f61e

This week's practical 3d print is a simple catch all tray.  ## Catch all tray As for most of the useful prints I show you in this series I printed it a long time ago and can't find the link to the design file. I am pretty sure it's from [Thingiverse](https://thingiverse.com) though. ### What it does It perfectly serves as a central place for the things I commonly need when I go out. So I don't need to search for them. What I like about the design is, that it catches all things from my pockets i.e. key, lighter, earpods, slide wallet and more when I come home. But not the dust and dirt. It falls throught the holes in tray. #3dprint #3ddruck #3dprinting

@ a012dc82:6458a70d

**Table Of Content** - The Birth of Tokenized Bitcoin - How Does Tokenized Bitcoin Work? - The Advantages of tBTC Over Traditional Bitcoin - Expanding the Utility of Bitcoin - The Future of Tokenized Bitcoin - Conclusion - FAQ In the ever-evolving world of cryptocurrency, Bitcoin remains the gold standard. However, its traditional form has faced challenges, especially when it comes to transaction speeds and adaptability. Enter the tokenized version of Bitcoin on Solana, a solution that promises to address these issues. But what exactly is this new tokenized Bitcoin, and why is it causing such a stir in the crypto community? Let's dive in. **The Birth of Tokenized Bitcoin** Bitcoin, with its unmatched popularity, has always been at the forefront of the cryptocurrency industry. Yet, its primary blockchain has been criticized for being slow in adopting new features, making smaller transactions both time-consuming and expensive. To address these challenges, the Threshold Network introduced the first tokenized version of Bitcoin, known as tBTC, on the Solana blockchain. This innovation aims to bridge the gap between Bitcoin's value and its transactional limitations. **How Does Tokenized Bitcoin Work?** The concept might sound complex, but it's rooted in simplicity. Imagine you have a physical gold bar but find it cumbersome to use in daily transactions. Instead, you get a certificate (or token) representing that gold bar, which you can easily trade or use. Similarly, when someone mints tBTC on Solana, they send their Bitcoin to be "wrapped". This wrapping process involves a decentralized review where the crypto is held in a special wallet. This wallet's authenticity is validated by a majority of people operating nodes on the Threshold Network. Once validated, you receive tBTC equivalent to the Bitcoin you wrapped, which can be used seamlessly on the Solana blockchain. **The Advantages of tBTC Over Traditional Bitcoin** Traditional Bitcoin has its limitations, especially when it comes to smart contracts. Even with advancements like the Lightning Network, these limitations persist. tBTC, on the other hand, offers a more flexible approach. It acts as a proof of ownership, allowing users to prove they possess a certain amount of Bitcoin. Moreover, if they ever wish to revert to their original Bitcoin, they can easily trade their tBTC to claim it back. This process ensures security, as a significant majority of validators must approve the transaction, minimizing the risk of malicious intent. **Expanding the Utility of Bitcoin** One of the most exciting aspects of tBTC is its potential to revolutionize how Bitcoin is used. Traditional Bitcoin holders, if they wished to take a loan against their holdings, had to rely on centralized platforms, which came with their own set of risks. With tBTC, however, they can leverage their Bitcoin on the Solana blockchain, bypassing the limitations of the traditional Bitcoin network. This means they can take out loans, earn yields, and even use their Bitcoin in decentralized exchanges, offering a level of flexibility previously unheard of. **The Future of Tokenized Bitcoin** Tokenized Bitcoin, especially tBTC on Solana, is a groundbreaking advancement, but it's just the beginning of a broader trend. Other major blockchains, such as Ethereum, Arbitrum, Optimism, and Polygon, have also integrated this concept, showcasing the growing appeal and versatility of tokenized Bitcoin. This widespread adoption underscores the crypto community's belief in its potential, making Bitcoin more adaptable and enhancing its interoperability across different platforms. Moreover, the rising trust in tokenized Bitcoin suggests a promising trajectory for the decentralized finance (DeFi) sector. As tokenized assets become more mainstream, platforms like Solana stand to benefit immensely, heralding a new era for the entire DeFi ecosystem. The embrace of tokenized Bitcoin is not just a win for Bitcoin itself but a testament to the evolving dynamics of the crypto world. **Conclusion** The introduction of tBTC on Solana is more than just a technological advancement; it's a testament to the crypto community's relentless pursuit of innovation. As we continue to witness the blending of traditional and modern financial systems, tokenized assets like tBTC will undoubtedly play a pivotal role in shaping the future of decentralized finance. **FAQs** **What is tokenized Bitcoin?** Tokenized Bitcoin, like tBTC on Solana, is a representation of Bitcoin on other blockchains, allowing for more flexibility and interoperability. **Why was tBTC introduced on Solana?** tBTC was introduced to address Bitcoin's transactional limitations, making it more adaptable and efficient on platforms like Solana. **How does tokenized Bitcoin differ from traditional Bitcoin?** While traditional Bitcoin has limitations with smart contracts and transaction speeds, tokenized Bitcoin offers more flexibility, especially on platforms like Solana. **Are other blockchains adopting tokenized Bitcoin?** Yes, apart from Solana, blockchains like Ethereum, Arbitrum, Optimism, and Polygon have also integrated tokenized Bitcoin. **What does the rise of tokenized Bitcoin mean for the DeFi sector?** The growing trust in tokenized Bitcoin suggests a promising future for the DeFi sector, with platforms like Solana leading the way in innovation and adoption. **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. *

@ deba271e:36005655

#### Background **The free Alby account is going away** by Jan 3rd 2025. With this users have options to switch to either self hosted Alby Hub or hosted Alby Hub for 21k sats per month (see https://albyhub.com/). Unfortunatelly neither of these options work for me. - I'm currently traveling a lot without a single base home, so I can't just run some server "at home" and I want to be able to use it even when I'm in the midst of moving between locations. - 21k sats/month for Alby Hub is too steep just for using it for Nostr zaps. I'd pay more for the service than what I ever get in zaps. I'm happy to support projects, but the math just doesn't work out. - Running lightning node, etc in VPS is also prohibitively expensive for this usecase, but I may end up eventually doing this for other reasons. Getting VPS strong enough for self hosted node is around $80/month, but there are also options like https://nodana.io/ for $10/month. (Shill me better options if you have) If there is a way to run a selft-custodial solution with these requirements (i.e. no "home" node, cheap for small amount zapping), let me know, otherwise this will do and we'll have to wait for BOLT12 in lnd. ## Tutorial So here's the plan - Get coinos.io account - Connect it with Amethyst via NWC - Install Alby Go to make it easier to use the account on the go Here are the steps to do on your Android phone. iOS will be similar - Get [Amethyst](https://play.google.com/store/apps/details?id=com.vitorpamplona.amethyst&hl=en&gl=US) nostr app installed - Go to https://coinos.io/ , register new account and sign in. - On the main screen click on the settings gear icon and get the connection code  - Reveal and copy the connection strings (tap on Copy) - Open Amethyst and hold the lightning icon under any post - Tap the "paste" button (see the screenshot)  - Now click on Save and that's it - Zapping should now work natively in Amethyst and it will use the hosted wallet Optional - One extra thing you can do here is to install Alby Go (https://albygo.com/) and use the same "connection string" to connect it to your coinos.io account. This way you will have a mobile native wallet that's connected to this account (which makes it easier to pay with it, etc) originally posted at https://stacker.news/items/808573

@ a012dc82:6458a70d

**Table Of Content** - The SEC's Dance with Bitcoin ETFs - The Long and Winding Road to Approval - Why the Cold Feet, SEC? - What's Next on the Horizon? - Conclusion - FAQ In the ever-evolving landscape of cryptocurrency, there's one topic that's been consistently grabbing headlines: the elusive Bitcoin ETF. As the world eagerly anticipates its introduction, the United States Securities and Exchange Commission (SEC) continues to play a game of cat and mouse, leaving investors and enthusiasts on tenterhooks. Just when the crypto community thought they were inching closer to a resolution, the SEC has decided to keep us all in suspense a little longer. So, let's unpack the latest developments and see what's in store for the future of Bitcoin ETFs. **The SEC's Dance with Bitcoin ETFs** For those out of the loop, the United States Securities and Exchange Commission (SEC) has been the gatekeeper for the much-anticipated Bitcoin ETF (Exchange-Traded Fund). Think of an ETF as a basket of assets, like stocks or bonds, that you can buy or sell on a stock exchange. But in this case, the asset is our beloved Bitcoin. The idea of a Bitcoin ETF has been floating around for years, promising to bridge the gap between traditional finance and the crypto world. It would allow both everyday investors and big financial institutions to dip their toes into Bitcoin waters without the hassle of buying and holding the actual cryptocurrency. **The Long and Winding Road to Approval** Big financial players like BlackRock and ARK Invest have been knocking on the SEC's door, applications in hand, hoping to get the green light. But the SEC, ever the cautious guardian, has been pushing back, delaying, and asking for public comments. Now, here's where it gets interesting. Despite the numerous applications and the growing interest from the financial community, the SEC has never approved a spot Bitcoin ETF proposal. They've been tiptoeing around the idea, starting to accept Bitcoin-related investment vehicles in 2021, but a full-fledged Bitcoin ETF? Still on the back burner. **Why the Cold Feet, SEC?** One might wonder why the SEC is dragging its feet. The answer? It's complicated. A Bitcoin ETF isn't just another asset; it could involve holding actual Bitcoin, making it a direct investment. This is a tad different from Bitcoin futures-linked ETFs, which the SEC seems more comfortable with. Then there's the wild west of the crypto market in the US. With the market's volatile nature and calls for clearer regulations and oversight, the SEC is treading carefully. They're currently juggling enforcement cases against big names like Coinbase, Binance, and Ripple. So, it's safe to say they've got a lot on their plate. **What's Next on the Horizon?** With the SEC's recent moves, the final deadline for some Bitcoin ETF applications is now set for 2024. But, as with everything in the crypto world, predictions can be tricky. Some analysts, ever the optimists, believe there's a 65% chance of a Bitcoin ETF getting approved. But only time will tell. What's clear is that the SEC is in a powerful position, with the crypto world eagerly awaiting its next move. As Stuart Barton aptly put it, both sides might need to bend a bit to find common ground. **Conclusion** The quest for a Bitcoin ETF has been nothing short of a rollercoaster ride, filled with anticipation, hope, and a fair share of suspense. As we stand at this crossroads, the journey ahead remains uncertain. But one thing is clear: the world of cryptocurrency never ceases to surprise and captivate. While we may need to temper our expectations for now, the horizon could still hold unprecedented developments for the Bitcoin ETF narrative. Here's to a future where clarity and innovation walk hand in hand! **FAQs** **What is a Bitcoin ETF?** A Bitcoin ETF (Exchange-Traded Fund) is like a basket of assets available for trading on a stock exchange, with Bitcoin as the primary asset. **Why is the SEC involved in Bitcoin ETFs?** The SEC (Securities and Exchange Commission) is responsible for regulating and approving new financial products, including ETFs, to ensure they meet specific criteria and are safe for investors. **Has the SEC approved any Bitcoin ETFs yet?** As of now, the SEC has not approved any spot Bitcoin ETF proposals. **When can we expect a decision on Bitcoin ETFs?** The final deadline for some Bitcoin ETF applications is set for 2024. **That's all for today** **If you want more, be sure to follow us on:** **NOSTR: croxroad@getalby.com** **X: [@croxroadnews](https://x.com/croxroadnewsco)** **Instagram: [@croxroadnews.co](https://www.instagram.com/croxroadnews.co/)** **Youtube: [@croxroadnews](https://www.youtube.com/@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.*

@ ec42c765:328c0600

[Nostr Advent Calendar 2024](https://adventar.org/calendars/10004) の 12日目の記事です。 昨日の 12/11 は きりの さんの [2024年のNostrリレー運営を振り返る](https://zenn.dev/imksoo/articles/92be671d734551) でした。 # nostr-zap-view 作った リポジトリ: https://github.com/Lokuyow/nostr-zap-view/ 動作確認ページ: https://lokuyow.github.io/nostr-zap-view/ ## それ何？ 特定の誰かや何かに宛てたZap（投げ銭）を一覧できるやつ を 自分のWebサイトに設置できるやつ --- 自分のサイトに設置した例 * SNSリンク集ページ（最下部）: https://lokuyow.github.io/ * おいくらサッツ（Zap一覧ボタン）: https://osats.money/ * 今日からビットコ（最下部）: https://lokuyow.github.io/btc-dca-simulator/ ## なんで作ったの？ 私の去年のアドベントカレンダー 【Nostr】Webサイトにビットコインの投げ銭ボタンを設置しよう【Zap】 https://spotlight.soy/detail?article_id=ucd7cbrql/ が前提になってるけど長いので要約すると * ZapするやつはあるけどZap見るやつがないので欲しい * ZapをNostr（の典型的なkind:1クライアント）内だけに留めるのはもったいない * Webサイトの広告うざいからZap（的な何か）で置き換わって欲しい ## お前だれ？ 非エンジニア、非プログラマー AIにコード出させてるだけ人 ## 作った感想 できた ## 作った感想2 完成してから気付いた本当に作りたかったもの こういうところにそのままZapを表示できる感じにしたい  （ここまでちゃんとした商業ブログでなく）個人のブログやHPの端っこに「Sponsored by」欄があって名前が表示される感じ もうZapっていう文字もビットコインっていう文字もNostrも出さなくていいし説明もしなくていいのでは感がある イメージはWebサイトを対象にした[ニコニ広告](https://dic.nicovideo.jp/id/1314224) + [スーパーチャット](https://www.asobou.co.jp/blog/life/superchat) + [祭りとか神社の奉納者一覧](https://www.google.com/search?q=%E7%A5%AD+%E5%A5%89%E7%B4%8D%E8%80%85+%E4%B8%80%E8%A6%A7&tbm=isch) --- で思ったのは 個人からの投げ銭なら推し活的なものにしかならないけど 企業がNostrにアカウントを作ってサイトに投げ銭をしたら企業の広告になるんでは！？ ~~企業がNostrにアカウントを！？デリヘルしか見たことない！~~ ## 今後 思いつき、予定は未定 * ボタン→ダイアログ形式でなくバナー、Embed形式にしてページアクセスですぐ見れるようにする * 多分リレーに負荷がかかるのでなんかする * Zapの文字は出さず「Sponsored by」等にする * 単純な最新順でなくする * 少額Zapをトリミング * 一定期間（一か月など）ごとで金額順にソート * 多分リレーに負荷がかかるのでなんかする * 今は投稿宛てのZapをWebサイト宛てのZapと勝手に言い張ってるだけなのでちゃんとWebサイト宛てのZapにする * NIPの提案が必要 * ウォレットの準拠も必要 * リレー（wss://~）宛てのZapもできてほしい ## 将来 インターネットのすべてに投げ銭をさせろ --- **おわり** 明日は mono さんの [Open Sats 申請編](https://zenn.dev/konemono/articles/cb39fb7f302551) です！！

@ b8a9df82:6ab5cbbd

In March 2020, the world came to a halt. Finally reading "The Bitcoin Standard" and Michael Saylor’s prologue to it made me reflect on my own journey during that time—a journey that led to *The Extraordinary*. Isn’t it fascinating how the same global crisis made us all pause, look beneath the surface, and come out with completely different perspectives on life? For me, the pandemic wasn’t just a disruption—it was a turning point. In the stillness, I was forced to face my demons: addiction, emptiness, and the endless search for something meaningful. What emerged wasn’t just a book, but a deep personal transformation. *The Extraordinary* is inspired by my life in London during those chaotic years—filled with incredible highs and crushing lows. It’s a story about hitting rock bottom and finding a way back up. It’s about the facade of big-city life, where envy often wears the mask of morality, and the struggle to accept yourself in a world that rarely allows it. What’s different now? Everything. I live a completely different life today. Writing *The Extraordinary* helped me confront what I couldn’t before—and now, I finally have the courage to share it here with you on Nostr. If you’ve ever felt stuck, lost, or out of place in your own life, this book is for you. I’d love for you to read it and let me know your thoughts. Because sometimes, in writing a story for ourselves, we find the strength to connect with others. Unfortunately, it's only available on [Amazon](https://a.co/d/778kCUK) for now, as I haven't figured out how to do print-on-demand here on Nostr yet #asknostr ### Blurb: 1. THEY SAID YOU WILL EARN A LOT OF MONEY, 2. THEY SAID THEY WILL GIVE YOU A CAR, 3. THEY SAID YOU WILL BE SUCCESSFUL, 4. THEY SAID IT WILL BE FUN. However Kate Blumenhagen never wanted to be her company‘s whore, nor lose control about the men’s world. In a city where envy often masquerades as morality. What happens when the system collapses, the perfect façade breaks down and everybody‘s darling only shines on the outside? A tribute to all those who can't stand still for five minutes! <img src="https://blossom.primal.net/17c13c7b0b72862a329e6bc33b9baabb7bbfdcb9048c30008ba73ff37ced16e3.jpg">

@ 4506e04e:8c16ba04

### On Saturday, July 27, 2024, at the Bitcoin 2024 Conference in Nashville, Tennessee, Donald Trump made a bold proclamation: > “The reason I’ve come to address the Bitcoin community today can be summed up in two very simple words — America First. If crypto is going to define the future, I want it to be mined, **minted**, and made in the USA. It’s not going to be made anywhere else.” This statement raises critical questions: What does Trump and his administration mean by this? And what implications does it hold for Bitcoin’s global landscape? ### The Bitcoin Act of 2024 and Global Hash Wars Less than a month from now, Donald Trump’s administration will take office, and it is highly likely that the Bitcoin Act of 2024 will come into force. This act positions the United States on a strategic path to accumulate a 1-million-Bitcoin strategic reserve. Similar developments are unfolding globally. Russia’s Bitcoin Strategic Reserve Decree is set to take effect, and China, potentially re-entering the fray, is expected to lift its ban on Bitcoin mining soon. These moves signal the advent of a ***global hash war***—a race among nations to secure dominance in Bitcoin accumulation and mining. As of today, Thursday, December 12, 2024, approximately 94.26% of the total Bitcoin supply has already been mined. With 3.125 BTC block reward issued every 10 minutes, this equates to 450 BTC daily, 3,150 BTC weekly, and 164,250 BTC annually until the next halving. Roughly 5% (1.2 million BTC) remain to be mined before the 7th halving in 2036, at which point 99.2% of the total 21 million supply will have been mined. Beyond that, mining the remaining 0.8% will take another 104 years. Therefore practically speaking, the next decade represents a critical window for countries to establish their dominance in Bitcoin acquisition. ### The US Strategy: Policies and Challenges The US government will likely face significant challenges competing with Chinese miners using domestically manufactured mining equipment especially combined with Russian energy resources. To counteract this, the US government might come up with some creative policies i.e. to restrict Bitcoin ETFs from selling their holdings to any entity other than the US Treasury, potentially at a discounted price. Publicly traded mining companies could also face mandates to ensure that all Bitcoin they mine remains within the United States. Since enforcing such a policy on-chain is technically not feasible, the government may explore alternative solutions, such as leveraging layer-2 technologies like eCash. This approach could see mining companies becoming mints and custodians of the Bitcoin they mine, issuing eCash tokens for trade on open markets while retaining on-chain Bitcoin in the US. Similarly, hosted mining services might adopt a system where users purchasing mining equipment are offered eCash instead of on-chain Bitcoin. These companies could analyze users' mining profit histories and even provide lines of credit using mining equipment and future profits as collateral. ### The Emerging Dual Market Under these conditions, a dual market for Bitcoin could emerge. Non-KYC on-chain Bitcoin might trade at a significant premium—potentially 25% higher (or even more) —than its KYC-compliant counterparts. This discrepancy would reflect the increasing regulatory and geopolitical tensions surrounding Bitcoin ownership and distribution. ### Conclusion The global hash war signals a pivotal moment in Bitcoin’s history. Nations like the United States, Russia, and China are vying for strategic control over a finite resource, each deploying unique policies and tactics. As these dynamics unfold, Bitcoin’s decentralized ethos will be tested against the backdrop of geopolitical ambition, potentially reshaping its role in the global economy. Central banks will eventually print their own money to buy Bitcoin. The hyperinflation might lead to socio-economic abnormalities like social unrest and potentially famine. At that point what difference will it make if Bitcoin price is 0.1m, 1m or 10m?

@ d0bf8568:4db3e76f

Depuis sa création en 2009, Bitcoin suscite débats passionnés. Pour certains, il s’agit d’une tentative utopique d’émancipation du pouvoir étatique, inspirée par une philosophie libertarienne radicale. Pour d’autres, c'est une réponse pragmatique à un système monétaire mondial jugé défaillant. Ces deux perspectives, souvent opposées, méritent d’être confrontées pour mieux comprendre les enjeux et les limites de cette révolution monétaire.  ### La critique économique de Bitcoin David Cayla, dans ses dernières contributions, perçoit Bitcoin comme une tentative de réaliser une « utopie libertarienne ». Selon lui, les inventeurs des cryptomonnaies cherchent à créer une monnaie détachée de l’État et des rapports sociaux traditionnels, en s’inspirant de l’école autrichienne d’économie. Cette école, incarnée par des penseurs comme Friedrich Hayek, prône une monnaie privée et indépendante de l’intervention politique. Cayla reproche à Bitcoin de nier la dimension intrinsèquement sociale et politique de la monnaie. Pour lui, toute monnaie repose sur la confiance collective et la régulation étatique. En rendant la monnaie exogène et dénuée de dette, Bitcoin chercherait à éviter les interactions sociales au profit d’une logique purement individuelle. Selon cette analyse, Bitcoin serait une illusion, incapable de remplacer les monnaies traditionnelles qui sont des « biens publics » soutenus par des institutions. Cependant, cette critique semble minimiser la légitimité des motivations derrière Bitcoin. La crise financière de 2008, marquée par des abus systémiques et des sauvetages bancaires controversés, a largement érodé la confiance dans les systèmes monétaires centralisés. Bitcoin n’est pas qu’une réaction idéologique : c’est une tentative de créer un système monétaire transparent, immuable et résistant aux manipulations. ### La perspective maximaliste Pour les bitcoiners, Bitcoin n’est pas une utopie mais une réponse pragmatique à un problème réel : la centralisation excessive et les défaillances des monnaies fiat. Contrairement à ce que Cayla affirme, Bitcoin ne cherche pas à nier la société, mais à protéger les individus de la coercition étatique. En déplaçant la confiance des institutions vers un protocole neutre et transparent, Bitcoin redéfinit les bases des échanges monétaires. L’accusation selon laquelle Bitcoin serait « asocial » ignore son écosystème communautaire mondial. Les bitcoiners collaborent activement à l’amélioration du réseau, organisent des événements éducatifs et développent des outils inclusifs. Bitcoin n’est pas un rejet des rapports sociaux, mais une tentative de les reconstruire sur des bases plus justes et transparentes. Un maximaliste insisterait également sur l’émergence historique de la monnaie. Contrairement à l’idée que l’État aurait toujours créé la monnaie, de nombreux exemples montrent que celle-ci émergeait souvent du marché, avant d’être capturée par les gouvernements pour financer des guerres ou imposer des monopoles. Bitcoin réintroduit une monnaie à l’abri des manipulations politiques, similaire aux systèmes basés sur l’or, mais en mieux : numérique, immuable et accessible. ### Utopie contre réalité Si Cayla critique l’absence de dette dans Bitcoin, Nous y voyons une vertu. La « monnaie-dette » actuelle repose sur un système de création monétaire inflationniste qui favorise les inégalités et l’érosion du pouvoir d’achat. En limitant son offre à 21 millions d’unités, Bitcoin offre une alternative saine et prévisible, loin des politiques monétaires arbitraires. Cependant, les maximalistes ne nient pas que Bitcoin ait encore des défis à relever. La volatilité de sa valeur, sa complexité technique pour les nouveaux utilisateurs, et les tensions entre réglementation et liberté individuelle sont des questions ouvertes. Mais pour autant, ces épreuves ne remettent pas en cause sa pertinence. Au contraire, elles illustrent l’importance de réfléchir à des modèles alternatifs. ### Conclusion : un débat essentiel Bitcoin n’est pas une utopie libertarienne, mais une révolution monétaire sans précédent. Les critiques de Cayla, bien qu’intellectuellement stimulantes, manquent de saisir l’essence de Bitcoin : une monnaie qui libère les individus des abus systémiques des États et des institutions centralisées. Loin de simplement avoir un « potentiel », Bitcoin est déjà en train de redéfinir les rapports entre la monnaie, la société et la liberté. Bitcoin offre une expérience unique : celle d’une monnaie mondiale, neutre et décentralisée, qui redonne le pouvoir aux individus. Que l’on soit sceptique ou enthousiaste, il est clair que Bitcoin oblige à repenser les rapports entre monnaie, société et État. En fin de compte, le débat sur Bitcoin n’est pas seulement une querelle sur sa légitimité, mais une interrogation sur la manière dont il redessine les rapports sociaux et sociétaux autour de la monnaie. En rendant le pouvoir monétaire à chaque individu, Bitcoin propose un modèle où les interactions économiques peuvent être réalisées sans coercition, renforçant ainsi la confiance mutuelle et les communautés globales. Cette discussion, loin d’être close, ne fait que commencer.

@ 1c19eb1a:e22fb0bc

I am happy to present to you the first full review posted to Nostr Reviews: #Primal for #Android! Primal has its origins as a micro-blogging, social media client, though it is now expanding its horizons into long-form content. It was first released only as a web client in March of 2023, but has since had a native client released for both iOS and Android. All of Primal's clients recently had an update to Primal 2.0, which included both performance improvements and a number of new features. This review will focus on the Android client specifically, both on phone and tablet. Since Primal has also added features that are only available to those enrolled in their new premium subscription, it should also be noted that this review will be from the perspective of a free user. This is for two reasons. First, I am using an alternate npub to review the app, and if I were to purchase premium at some time in the future, it would be on my main npub. Second, despite a lot of positive things I have to say about Primal, I am not planning to regularly use any of their apps on my main account for the time being, for reasons that will be discussed later in the review. The application can be installed through the [Google Play Store](https://play.google.com/store/apps/details?id=net.primal.android&hl=en_US), Zapstore, or by downloading it directly from Primal's [GitHub](https://github.com/PrimalHQ/primal-android-app/releases/). This review is current as of Primal Android version 2.0.21. In the ecosystem of "notes and other stuff," Primal is predominantly in the "notes" category. It is geared toward users who want a social media experience similar to Twitter or Facebook with an infinite scrolling feed of notes to interact with. However, there is some "other stuff" included to complement this primary focus on short and long form notes including a built-in Lightning wallet powered by #Strike, a robust advanced search, and a media-only feed.  ## Overall Impression Score: **3.8** / 5 Primal may well be the most polished UI of any Nostr client native to Android. It is incredibly well designed and thought out, with all of the icons and settings in the places a user would expect to find them. It is also incredibly easy to get started on Nostr via Primal's sign-up flow. The only two things that will be foreign to new users are the lack of any need to set a password or give an email address, and the prompt to optionally set up the wallet. Complaints prior to the 2.0 update about Primal being slow and clunky should now be completely alleviated. I only experienced quick load times and snappy UI controls with a couple very minor exceptions. Primal is not, however, a client that I would recommend for the power-user. Control over preferred relays is minimal and does not allow the user to determine which relays they write to and which they only read from. Though you can use your own wallet, it will not appear within the wallet interface, which only works with the custodial wallet from Strike. Moreover, and most eggregiously, the only way for existing users to log in is by pasting their nsec, as Primal does not support either the Android signer or remote signer options for users to protect their private key at this time. This lack of signer support is the primary reason the client received such a low overall score. If even one form of external signer log in is added to Primal, the score will be amended to 4.2 / 5, and if both Android signer and remote signer support is added, it will increase to 4.5. Another downside to Primal is that it still utilizes an outdated direct message specification that leaks metadata that can be readily seen by anyone on the network. While the content of your messages remains encrypted, anyone can see who you are messaging with, and when. That said, the beautiful thing about Nostr as a protocol is that users are not locked into any particular client. You may find Primal to be a great client for your average #bloomscrolling and zapping memes, but opt for a different client for more advanced uses and for direct messaging. ## Features Primal has a lot of features users would expect from any Nostr client that is focused on short-form notes, but it also packs in a lot of features that set it apart from other clients, and that showcase Primal's obvious prioritization of a top-tier user experience. ### Home Feed By default, the infinitely scrolling Home feed displays notes from those you currently follow in chronological order. This is traditional Nostr at its finest, and made all the more immersive by the choice to have all distracting UI elements quickly hide themselves from view as the you begin to scroll down the feed. They return just as quickly when you begin to scroll back up.  Scrolling the feed is incredibly fast, with no noticeable choppiness and minimal media pop-in if you are on a decent internet connection. Helpfully, it is easy to get back to the top of the feed whenever there is a new post to be viewed, as a bubble will appear with the profile pictures of the users who have posted since you started scrolling.  ### Interacting With Notes Interacting with a note in the feed can be done via the very recognizable icons at the bottom of each post. You can comment, zap, like, repost, and/or bookmark the note. Notably, tapping on the zap icon will immediately zap the note your default amount of sats, making zapping incredibly fast, especially when using the built-in wallet. Long pressing on the zap icon will open up a menu with a variety of amounts, along with the ability to zap a custom amount. All of these amounts, and the messages that are sent with the zap, can be customized in the application settings.  Users who are familiar with Twitter or Instagram will feel right at home with only having one option for "liking" a post. However, users from Facebook or other Nostr clients may wonder why they don't have more options for reactions. This is one of those things where users who are new to Nostr probably won't notice they are missing out on anything at all, while users familiar with clients like #Amethyst or #noStrudel will miss the ability to react with a 🤙 or a 🫂. It's a similar story with the bookmark option. While this is a nice bit of feature parity for Twitter users, for those already used to the ability to have multiple customized lists of bookmarks, or at minimum have the ability to separate them into public and private, it may be a disappointment that they have no access to the bookmarks they already built up on other clients. Primal offers only one list of bookmarks for short-form notes and they are all visible to the public. However, you are at least presented with a warning about the public nature of your bookmarks before saving your first one. Yet, I can't dock the Primal team much for making these design choices, as they are understandable for Primal's goal of being a welcoming client for those coming over to Nostr from centralized platforms. They have optimized for the onboarding of new users, rather than for those who have been around for a while, and there is absolutely nothing wrong with that. ### Post Creation Composing posts in Primal is as simple as it gets. Accessed by tapping the obvious circular button with a "+" on it in the lower right of the Home feed, most of what you could need is included in the interface, and nothing you don't.  Your device's default keyboard loads immediately, and the you can start typing away. There are options for adding images from your gallery, or taking a picture with your camera, both of which will result in the image being uploaded to Primal's media-hosting server. If you prefer to host your media elsewhere, you can simply paste the link to that media into your post. There is also an @ icon as a tip-off that you can tag other users. Tapping on this simply types "@" into your note and brings up a list of users. All you have to do to narrow down the user you want to tag is continue typing their handle, Nostr address, or paste in their npub.  This can get mixed results in other clients, which sometimes have a hard time finding particular users when typing in their handle, forcing you to have to remember their Nostr address or go hunt down their npub by another means. Not so with Primal, though. I had no issues tagging anyone I wanted by simply typing in their handle. Of course, when you are tagging someone well known, you may find that there are multiple users posing as that person. Primal helps you out here, though. Usually the top result is the person you want, as Primal places them in order of how many followers they have. This is quite reliable right now, but there is nothing stopping someone from spinning up an army of bots to follow their fake accounts, rendering follower count useless for determining which account is legitimate. It would be nice to see these results ranked by web-of-trust, or at least an indication of how many users you follow who also follow the users listed in the results. Once you are satisfied with your note, the "Post" button is easy to find in the top right of the screen. ### Feed Selector and Marketplace Primal's Home feed really shines when you open up the feed selection interface, and find that there are a plethora of options available for customizing your view. By default, it only shows four options, but tapping "Edit" opens up a new page of available toggles to add to the feed selector.  The options don't end there, though. Tapping "Add Feed" will open up the feed marketplace, where an ever-growing number of custom feeds can be found, some created by Primal and some created by others. This feed marketplace is available to a few other clients, but none have so closely integrated it with their Home feeds like Primal has.  Unfortunately, as great as these custom feeds are, this was also the feature where I ran into the most bugs while testing out the app. One of these bugs was while selecting custom feeds. Occasionally, these feed menu screens would become unresponsive and I would be unable to confirm my selection, or even use the back button on my device to back out of the screen. However, I was able to pull the screen down to close it and re-open the menu, and everything would be responsive again. This only seemed to occur when I spent 30 seconds or more on the same screen, so I imagine that most users won't encounter it much in their regular use. Another UI bug occurred for me while in the feed marketplace. I could scroll down the list of available feeds, but attempting to scroll back up the feed would often close the interface entirely instead, as though I had pulled the screen down from the top, when I was swiping in the middle of the screen. The last of these bugs occurred when selecting a long-form "Reads" feed while in the menu for the Home feed. The menu would allow me to add this feed and select it to be displayed, but it would fail to load the feed once selected, stating "There is no content in this feed." Going to a different page within the the app and then going back to the Home tab would automatically remove the long-form feed from view, and reset back to the most recently viewed short-form "Notes" feed, though the long-form feed would still be available to select again. The results were similar when selecting a short-form feed for the Reads feed. I would suggest that if long-form and short-form feeds are going to be displayed in the same list, and yet not be able to be displayed in the same feed, the application should present an error message when attempting to add a long-form feed for the Home feed or a short-form feed for the Reads feed, and encourage the user add it to the proper feed instead. ### Long-Form "Reads" Feed A brand new feature in Primal 2.0, users can now browse and read long-form content posted to Nostr without having to go to a separate client. Primal now has a dedicated "Reads" feed to browse and interact with these articles. This feed displays the author and title of each article or blog, along with an image, if available. Quite conveniently, it also lets you know the approximate amount of time it will take to read a given article, so you can decide if you have the time to dive into it now, or come back later.  Noticeably absent from the Reads feed, though, is the ability to compose an article of your own. This is another understandable design choice for a mobile client. Composing a long-form note on a smart-phone screen is not a good time. Better to be done on a larger screen, in a client with a full-featured text editor. Tapping an article will open up an attractive reading interface, with the ability to bookmark for later. These bookmarks are a separate list from your short-form note bookmarks so you don't have to scroll through a bunch of notes you bookmarked to find the article you told yourself you would read later and it's already been three weeks. While you can comment on the article or zap it, you will notice that you cannot repost or quote-post it. It's not that you can't do so on Nostr. You absolutely can in other clients. In fact, you can do so on Primal's web client, too. However, Primal on Android does not handle rendering long-form note previews in the Home feed, so they have simply left out the option to share them there. See below for an example of a quote-post of a long-form note in the Primal web client vs the Android client. Primal Web:  Primal Android:  ### The Explore Tab Another unique feature of the Primal client is the Explore tab, indicated by the compass icon. This tab is dedicated to discovering content from outside your current follow list. You can find the feed marketplace here, and add any of the available feeds to your Home or Reads feed selections. You can also find suggested users to follow in the People tab. The Zaps tab will show you who has been sending and receiving large zaps. Make friends with the generous ones! The Media tab gives you a chronological feed of just media, displayed in a tile view. This can be great when you are looking for users who post dank memes, or incredible photography on a regular basis. Unfortunately, it appears that there is no way to filter this feed for sensitive content, and so you do not have to scroll far before you see pornographic material. Indeed, it does not appear that filters for sensitive content are available in Primal for ***any*** feed. The app is kind enough to give a minimal warning that objectionable content may be present when selecting the "Nostr Firehose" option in your Home feed, with a brief "be careful" in the feed description, but there is not even that much of a warning here for the media-only feed.  The media-only feed doesn't appear to be quite as bad as the Nostr Firehose feed, so there must be some form of filtering already taking place, rather than being a truly global feed of all media. Yet, occasional sensitive content still litters the feed and is unavoidable, even for users who would rather not see it. There are, of course, ways to mute particular users who post such content, if you don't want to see it a second time from the same user, but that is a never-ending game of whack-a-mole, so your only realistic choices in Primal are currently to either avoid the Nostr Firehose and media-only feeds, or determine that you can put up with regularly scrolling past often graphic content. This is probably the only choice Primal has made that is not friendly to new users. Most clients these days will have some protections in place to hide sensitive content by default, but still allow the user to toggle those protections off if they so choose. Some of them hide posts flagged as sensitive content altogether, others just blur the images unless the user taps to reveal them, and others simply blur all images posted by users you don't follow. If Primal wants to target new users who are accustomed to legacy social media platforms, they really should follow suit. The final tab is titled "Topics," but it is really just a list of popular hashtags, which appear to be arranged by how often they are being used. This can be good for finding things that other users are interested in talking about, or finding specific content you are interested in. If you tap on any topic in the list, it will display a feed of notes that include that hashtag. What's better, you can add it as a feed option you can select on your Home feed any time you want to see posts with that tag. The only suggestion I would make to improve this tab is some indication of why the topics are arranged in the order presented. A simple indicator of the number of posts with that hashtag in the last 24 hours, or whatever the interval is for determining their ranking, would more than suffice. Even with those few shortcomings, Primal's Explore tab makes the client one of the best options for discovering content on Nostr that you are actually interested in seeing and interacting with. ### Built-In Wallet While this feature is completely optional, the icon to access the wallet is the largest of the icons at the bottom of the screen, making you feel like you are missing out on the most important feature of the app if you don't set it up. I could be critical of this design choice, but in many ways I think it is warranted. The built-in wallet is one of the most unique features that Primal has going for it.  Consider: If you are a new user coming to Nostr, who isn't already a Bitcoiner, and you see that everyone else on the platform is sending and receiving sats for their posts, will you be more likely to go download a separate wallet application or use one that is built-into your client? I would wager the latter option by a long shot. No need to figure out which wallet you should download, whether you should do self-custody or custodial, or make the mistake of choosing a wallet with unexpected setup fees and no Lightning address so you can't even receive zaps to it. nostr:npub16c0nh3dnadzqpm76uctf5hqhe2lny344zsmpm6feee9p5rdxaa9q586nvr often states that he believes more people will be onboarded to Bitcoin through Nostr than by any other means, and by including a wallet into the Primal client, his team has made adopting Bitcoin that much easier for new Nostr users. Some of us purists may complain that it is custodial and KYC, but that is an unfortunate necessity in order to facilitate onboarding newcoiners to Bitcoin. This is ***not*** intended to be a wallet for those of us who have been using Bitcoin and Lightning regularly already. It is meant for those who are not already familiar with Bitcoin to make it as easy as possible to get off zero, and it accomplishes this better than any other wallet I have ever tried. In large part, this is because the KYC is very light. It does need the user's legal name, a valid email address, date of birth, and country of residence, but that's it! From there, the user can buy Bitcoin directly through the app, but only in the amount of $4.99 at a time. This is because there is a substantial markup on top of the current market price, due to utilizing whatever payment method the user has set up through their Google Play Store. The markup seemed to be about 19% above the current price, since I could purchase 4,143 sats for $4.99 ($120,415 / Bitcoin), when the current price was about $101,500. But the idea here is not for the Primal wallet to be a user's primary method of stacking sats. Rather, it is intended to get them off zero and have a small amount of sats to experience zapping with, and it accomplishes this with less friction than any other method I know. Moreover, the Primal wallet has the features one would expect from any Lightning wallet. You can send sats to any Nostr user or Lightning address, receive via invoice, or scan to pay an invoice. It even has the ability to receive via on-chain. This means users who don't want to pay the markup from buying through Primal can easily transfer sats they obtained by other means into the Primal wallet for zapping, or for using it as their daily-driver spending wallet. Speaking of zapping, once the wallet is activated, sending zaps is automatically set to use the wallet, and they are ***fast***. Primal gives you immediate feedback that the zap was sent and the transaction shows in your wallet history typically before you can open the interface. I can confidently say that Primal wallet's integration is the absolute best zapping experience I have seen in any Nostr client. One thing to note that may not be immediately apparent to new users is they need to add their Lightning address with Primal into their profile details before they can start receiving zaps. So, sending zaps using the wallet is automatic as soon as you activate it, but receiving is not. Ideally, this could be further streamlined, so that Primal automatically adds the Lightning address to the user's profile when the wallet is set up, so long as there is not currently a Lightning address listed. Of course, if you already have a Lightning wallet, you can connect it to Primal for zapping, too. We will discuss this further in the section dedicated to zap integration. ### Advanced Search Search has always been a tough nut to crack on Nostr, since it is highly dependent on which relays the client is pulling information from. Primal has sought to resolve this issue, among others, by running a caching relay that pulls notes from a number of relays to store them locally, and perform some spam filtering. This allows for much faster retrieval of search results, and also makes their advanced search feature possible. Advanced search can be accessed from most pages by selecting the magnifying glass icon, and then the icon for more options next to the search bar. As can be seen in the screenshot below, there are a plethora of filters that can be applied to your search terms.  You can immediately see how this advanced search could be a very powerful tool for not just finding a particular previous note that you are looking for, but for creating your own custom feed of notes. Well, wouldn't you know it, Primal allows you to do just that! This search feature, paired with the other features mentioned above related to finding notes you want to see in your feed, makes Primal hands-down the best client for content discovery. The only downside as a free user is that some of these search options are locked behind the premium membership. Or else you only get to see a certain number of results of your advanced search before you must be a premium member to see more. ## Can My Grandma Use It? Score: **4.8** / 5 Primal has obviously put a high priority on making their client user-friendly, even for those who have never heard of relays, public/private key cryptography, or Bitcoin. All of that complexity is hidden away. Some of it is available to play around with for the users who care to do so, but it does not at all get in the way of the users who just want to jump in and start posting notes and interacting with other users in a truly open public square. To begin with, the onboarting experience is incredibly smooth. Tap "Create Account," enter your chosen display name and optional bio information, upload a profile picture, and then choose some topics you are interested in. You are then presented with a preview of your profile, with the ability to add a banner image, if you so choose, and then tap "Create Account Now."  From there you receive confirmation that your account has been created and that your "Nostr key" is available to you in the application settings. No further explanation is given about what this key is for at this point, but the user doesn't really need to know at the moment, either. If they are curious, they will go to the app settings to find out. At this point, Primal encourages the user to activate Primal Wallet, but also gives the option for the user to do it later.  That's it! The next screen the user sees if they don't opt to set up the wallet is their Home feed with notes listed in chronological order. More impressive, the feed is not empty, because Primal has auto-followed several accounts based on your selected topics. Now, there has definitely been some legitimate criticism of this practice of following specific accounts based on the topic selection, and I agree. I would much prefer to see Primal follow hashtags based on what was selected, and combine the followed hashtags into a feed titled "My Topics" or something of that nature, and make that the default view when the user finishes onboarding. Following particular users automatically will artificially inflate certain users' exposure, while other users who might be quality follows for that topic aren't seen at all. The advantage of following particular users over a hashtag, though, is that Primal retains some control over the quality of the posts that new users are exposed to right away. Primal can ensure that new users see people who are actually posting quality photography when they choose it as one of their interests. However, even with that example, I chose photography as one of my interests and while I did get some stunning photography in my Home feed by default based on Primal's chosen follows, I also scrolled through the Photography hashtag for a bit and I really feel like I would have been better served if Primal had simply followed that hashtag rather than a particular set of users. We've already discussed how simple it is to set up the Primal Wallet. You can see the features section above if you missed it. It is, by far, the most user friendly experience to onboarding onto Lightning and getting a few sats for zapping, and it is the only one I know of that is built directly into a Nostr client. This means new users will have a frictionless introduction to transacting via Lightning, perhaps without even realizing that's what they are doing. Discovering new content of interest is incredibly intuitive on Primal, and the only thing that new users may struggle with is getting their own notes seen by others. To assist with this, I would suggest Primal encourage users to make their first post to the introductions hashtag and direct any questions to the AskNostr hashtag as part of the onboarding process. This will get them some immediate interactions from other users, and further encouragement to set up their wallet if they haven't already done so. ## How do UI look? Score: **4.9** / 5 Primal is the most stunningly beautiful Nostr client available, in my honest opinion. Despite some of my hangups about certain functionality, the UI alone makes me ***want*** to use it.  It is clean, attractive, and intuitive. Everything I needed was easy to find, and nothing felt busy or cluttered. There are only a few minor UI glitches that I ran into while testing the app. Some of them were mentioned in the section of the review detailing the feed selector feature, but a couple others occurred during onboarding. First, my profile picture was not centered in the preview when I uploaded it. This appears to be because it was a low quality image. Uploading a higher quality photo did not have this result.  The other UI bug was related to text instructions that were cut off, and not able to scroll to see the rest of them. This occurred on a few pages during onboarding, and I expect it was due to the size of my phone screen, since it did not occur when I was on a slightly larger phone or tablet.  Speaking of tablets, Primal Android looks really good on a tablet, too! While the client does not have a landscape mode by default, many Android tablets support forcing apps to open in full-screen landscape mode, with mixed results. However, Primal handles it well. I would still like to see a tablet version developed that takes advantage of the increased screen real estate, but it is certainly a passable option.      At this point, I would say the web client probably has a bit better UI for use on a tablet than the Android client does, but you miss out on using the built-in wallet, which is a major selling point of the app. This lack of a landscape mode for tablets and the few very minor UI bugs I encountered are the only reason Primal doesn't get a perfect score in this category, because the client is absolutely stunning otherwise, both in light and dark modes. There are also two color schemes available for each.  ## Log In Options Score: **1** / 5 Unfortunately, Primal has not included any options for log in outside of pasting your private key into the application. While this is a very simple way to log in for new users to understand, it is also the least secure means to log into Nostr applications. This is because, even with the most trustworthy client developer, giving the application access to your private key always has the potential for that private key to somehow be exposed or leaked, and on Nostr there is currently no way to rotate to a different private key and keep your identity and social graph. If someone gets your key, they ***are you*** on Nostr for all intents and purposes. This is not a situation that users should be willing to tolerate from production-release clients at this point. There are much better log in standards that can and should be implemented if you care about your users. That said, I am happy to report that external signer support is on the roadmap for Primal, as confirmed below: nostr:note1n59tc8k5l2v30jxuzghg7dy2ns76ld0hqnn8tkahyywpwp47ms5qst8ehl No word yet on whether this will be Android signer or remote signer support, or both. This lack of external signer support is why I absolutely will not use my main npub with Primal for Android. I am happy to use the web client, which supports and encourages logging in with a browser extension, but until the Android client allows users to protect their private key, I cannot recommend it for existing Nostr users. ## Zap Integration Score: **4.8** / 5 As mentioned when discussing Primal's built-in wallet feature, zapping in Primal can be the most seamless experience I have ever seen in a Nostr client. Pairing the wallet with the client is absolutely the path forward for Nostr leading the way to Bitcoin adoption. But what if you already have a Lightning wallet you want to use for zapping? You have a couple options. If it is an Alby wallet or another wallet that supports Nostr Wallet Connect, you can connect it with Primal to use with one-tap zapping.  How your zapping experience goes with this option will vary greatly based on your particular wallet of choice and is beyond the scope of this review. I used this option with a hosted wallet on my Alby Hub and it worked perfectly. Primal gives you immediate feedback that you have zapped, even though the transaction usually takes a few seconds to process and appear in your wallet's history. The one major downside to using an external wallet is the lack of integration with the wallet interface. This interface currently only works with Primal's wallet, and therefore the most prominent tab in the entire app goes unused when you connect an external wallet.  An ideal improvement would be for the wallet screen to work similar to Alby Go when you have an external wallet connected via Nostr Wallet Connect, allowing the user to have Primal act as their primary mobile Lightning wallet. It could have balance and transaction history displayed, and allow sending and receiving, just like the integrated Primal wallet, but remove the ability to purchase sats directly through the app when using an external wallet. ## Content Discovery Score: **4.8** / 5 Primal is the best client to use if you want to discover new content you are interested in. There is no comparison, with only a few caveats. First, the content must have been posted to Nostr as either a short-form or long-form note. Primal has a limited ability to display other types of content. For instance, discovering video content or streaming content is lacking. Second, you must be willing to put up with the fact that Primal lacks a means of filtering sensitive content when you are exploring beyond the bounds of your current followers. This may not be an issue for some, but for others it could be a deal-breaker. Third, it would be preferable for Primal to follow topics you are interested in when you choose them during onboarding, rather than follow specific npubs. Ideally, create a "My Topics" feed that can be edited by selecting your interests in the Topics section of the Explore tab. ## Relay Management Score: **2.5** / 5 For new users who don't want to mess around with managing relays, Primal is fantastic! There are 7 relays selected by default, in addition to Primal's caching service. For most users who aren't familiar with Nostr's protocol archetecture, they probably won't ever have to change their default relays in order to use the client as they would expect. However, two of these default relays were consistently unreachable during the week that I tested. These were relay.plebes.fans and remnant.cloud. The first relay seems to be an incorrect URL, as I found nosflare.plebes.fans online and with perfect uptime for the last 12 hours on [nostr.watch](https://nostr.watch). I was unable to find remnant.cloud on nostr.watch at all. A third relay was intermittent, sometimes online and reachable, and other times unreachable: v1250.planz.io/nostr. If Primal is going to have default relays, they should ideally be reliable and with accurate URLs. That said, users can add other relays that they prefer, and remove relays that they no longer want to use. They can even set a different caching service to use with the client, rather than using Primal's.  However, that is the extent of a user's control over their relays. They cannot choose which relays they want to write to and which they want to read from, nor can they set any private relays, outbox or inbox relays, or general relays. Loading the npub I used for this review into another client with full relay management support revealed that the relays selected in Primal are being added to both the user's public outbox relays and public inbox relays, but not to any other relay type, which leads me to believe the caching relay is acting as the client's only general relay and search relay. One unique and welcomed addition is the "Enhanced Privacy" feature, which is off by default, but which can be toggled on. I am not sure why this is not on by default, though. Perhaps someone from the Primal team can enlighten me on that choice. By default, when you post to Nostr, all of your outbox relays will see your IP address. If you turn on the Enhanced Privacy mode, only Primal's caching service will see your IP address, because it will post your note to the other relays on your behalf. In this way, the caching service acts similar to a VPN for posting to Nostr, as long as you trust Primal not to log or leak your IP address. ## Current Users' Questions The AskNostr hashtag can be a good indication of the pain points that other users are currently having with a client. Here are some of the most common questions submitted about Primal since the launch of 2.0: nostr:note1dqv4mwqn7lvpaceg9s7damf932ydv9skv2x99l56ufy3f7q8tkdqpxk0rd This was a pretty common question, because users expect that they will be able to create the same type of content that they can consume in a particular client. I can understand why this was left out in a mobile client, but perhaps it should be added in the web client. nostr:note16xnm8a2mmrs7t9pqymwjgd384ynpf098gmemzy49p3572vhwx2mqcqw8xe This is a more concerning bug, since it appears some users are experiencing their images being replaced with completely different images. I did not experience anything similar in my testing, though. nostr:note1uhrk30nq0e566kx8ac4qpwrdh0vfaav33rfvckyvlzn04tkuqahsx8e7mr There hasn't been an answer to this, but I have not been able to find a way. It seems search results will always include replies as well as original notes, so a feed made from the search results will as well. Perhaps a filter can be added to the advanced search to exclude replies? There is already a filter to ***only*** show replies, but there is no corresponding filter to only show original notes. nostr:note1zlnzua28a5v76jwuakyrf7hham56kx9me9la3dnt3fvymcyaq6eqjfmtq6 Since both mobile platforms support the wallet, users expect that they will be able to access it in their web client, too. At this time, they cannot. The only way to have seamless zapping in the web client is to use the Alby extension, but there is not a way to connect it to your Primal wallet via Nostr Wallet Connect either. This means users must have a separate wallet for zapping on the web client if they use the Primal Wallet on mobile. nostr:note15tf2u9pffy58y9lk27y245ew792raqc7lc22jezxvqj7xrak9ztqu45wep It seems that Primal is filtering for spam even for profiles you actively follow. Moreover, exactly what the criteria is for being considered spam is currently opaque. nostr:note1xexnzv0vrmc8svvduurydwmu43w7dftyqmjh4ps98zksr39ln2qswkuced For those unaware, Blossom is a protocol for hosting media as blobs identified by a hash, allowing them to be located on and displayed from other servers they have been mirrored to when when the target server isn't available. Primal currently runs a Blossom server (blossom.primal.net) so I would expect we see Blossom support in the future. nostr:note1unugv7s36e2kxl768ykg0qly7czeplp8qnc207k4pj45rexgqv4sue50y6 Currently, Primal on Android only supports uploading photos to your posts. Users must upload any video to some other hosting service and copy/paste a link to the video into their post on Primal. I would not be surprised to see this feature added in the near future, though. nostr:note10w6538y58dkd9mdrlkfc8ylhnyqutc56ggdw7gk5y7nsp00rdk4q3qgrex Many Nostr users have more than one npub for various uses. Users would prefer to have a way to quickly switch between accounts than to have to log all the way out and paste their npub for the other account every time they want to use it. There is good news on this front, though: nostr:note17xv632yqfz8nx092lj4sxr7drrqfey6e2373ha00qlq8j8qv6jjs36kxlh ## Wrap Up All in all, Primal is an excellent client. It won't be for everyone, but that's one of the strengths of Nostr as a protocol. You can choose to use the client that best fits your own needs, and supplement with other clients and tools as necessary. There are a couple glaring issues I have with Primal that prevent me from using it on my main npub, but it is also an ever-improving client, that already has me hopeful for those issues to be resolved in a future release. So, what should I review next? Another Android client, such as #Amethyst or #Voyage? Maybe an "other stuff" app, like #Wavlake or #Fountain? Please leave your suggestions in the comments. I hope this review was valuable to you! If it was, please consider letting me know just how valuable by zapping me some sats and reposting it out to your follows. Thank you for reading! PV 🤙

@ a012dc82:6458a70d

**Table Of Content** - The Anticipated Halving Event: A Catalyst for Growth - The Power of the Bitcoin ETF: Driving Demand - Global Economic Shifts: The BRICS and SCO Connection - Regulatory Challenges: The Ripple-XRP Case - Conclusion - FAQ Bitcoin, the pioneering cryptocurrency, has seen its fair share of ups and downs since its inception. From being dismissed as a mere fad to becoming a globally recognized financial asset, its journey has been nothing short of remarkable. Now, with Fundstrat's recent prediction of Bitcoin potentially reaching a staggering $180,000 by 2024, the crypto community is buzzing with excitement. Let's delve into the reasons behind this bold forecast. **The Anticipated Halving Event: A Catalyst for Growth** Every four years, Bitcoin undergoes a significant event known as "halving." This event sees the rewards for mining new blocks cut in half, effectively reducing the rate at which new bitcoins are introduced into the market. Historically, these halvings have been pivotal moments for Bitcoin's price trajectory. The logic behind the price surge post-halving is relatively straightforward: as the rewards for mining decrease, the supply of new bitcoins entering the market slows down. If demand remains constant or increases, this reduced supply can lead to upward pressure on the price. The previous halvings in 2012, 2016, and 2020 have all been followed by substantial bull runs, solidifying the belief in this pattern among many investors. Fundstrat's prediction takes this historical context into account. With the next halving event scheduled for April 2024, there's a growing anticipation of another significant price rally. If past patterns hold true, and with the added dynamics of increased institutional interest and broader mainstream acceptance, Bitcoin's journey to $180,000 seems not just possible, but plausible. **The Power of the Bitcoin ETF: Driving Demand** The concept of a Bitcoin ETF (Exchange Traded Fund) has been a topic of discussion and anticipation in the crypto community for years. An ETF would essentially track the price of Bitcoin, allowing investors to buy shares of the ETF rather than owning Bitcoin directly. This structure provides a more familiar and regulated way for institutional investors to gain exposure to Bitcoin's price movements without the complexities and security concerns of direct cryptocurrency ownership. Fundstrat believes that the approval of a Bitcoin ETF could be a game-changer. Historically, the introduction of ETFs for other assets has often led to increased liquidity and demand for the underlying asset. For instance, the introduction of gold ETFs provided a significant boost to the gold market, making it more accessible to a broader range of investors. With a Bitcoin ETF, institutional investors, who might have been previously hesitant due to the perceived risks and complexities associated with cryptocurrency, would have a more straightforward avenue to invest. This could lead to a massive influx of capital into the Bitcoin market. As these large-scale investors enter the scene, the demand for Bitcoin could skyrocket, driving up its price significantly. Fundstrat's projection of a 521% price hike takes into account this potential surge in demand, underlining the transformative power a Bitcoin ETF could have on the market. **Global Economic Shifts: The BRICS and SCO Connection** While not directly related to Bitcoin's price, it's essential to understand the global economic landscape. An Indian analyst has posited that World War III has already begun in the form of economic and digital warfare. He anticipates a merger between the BRICS economic bloc (Brazil, Russia, India, China, and South Africa) and the Shanghai Cooperation Organization (SCO). Such a merger could reshape global economic dynamics, potentially influencing Bitcoin's role as a decentralized currency. **Regulatory Challenges: The Ripple-XRP Case** The crypto world isn't just about bullish predictions; it's also about navigating the complex regulatory landscape. The U.S. Securities and Exchange Commission (SEC) is currently seeking permission to appeal a ruling in the SEC v. Ripple case over XRP. While this might seem unrelated to Bitcoin, it underscores the importance of regulatory clarity for the entire crypto industry. A favorable outcome for Ripple could set a precedent for other cryptocurrencies, including Bitcoin, fostering a more conducive environment for growth. **Conclusion** While predictions are just that – predictions, the factors outlined by Fundstrat and the broader global economic context provide compelling reasons to be optimistic about Bitcoin's future. Only time will tell if Bitcoin will indeed touch the $180,000 mark, but one thing is certain: the journey will be an exciting one to watch. **FAQ** **What is the Bitcoin halving event?** The Bitcoin halving is an event where the rewards for mining new blocks are cut in half, reducing the rate of new bitcoins entering the market. **Why does Fundstrat believe Bitcoin will reach $180,000 by 2024?** Fundstrat's prediction is based on historical price patterns around halving events and the potential approval of a Bitcoin ETF, which could drive significant demand. **What is a Bitcoin ETF?** A Bitcoin ETF (Exchange Traded Fund) tracks the price of Bitcoin, allowing investors to buy shares of the ETF instead of owning Bitcoin directly, providing a more regulated way to invest in Bitcoin's price movements. **How does the halving impact Bitcoin's price?** Historically, halvings have led to price surges due to reduced supply of new bitcoins. If demand remains constant or increases, this can lead to upward price pressure. **That's all for today** **If you want more, be sure to follow us on:** **NOSTR: croxroad@getalby.com** **X: [@croxroadnews](https://x.com/croxroadnewsco)** **Instagram: [@croxroadnews.co](https://www.instagram.com/croxroadnews.co/)** **Youtube: [@croxroadnews](https://www.youtube.com/@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.*

@ 6538925e:571e55c3

The excitement and romance of finding new tunes in serendipitous ways is under attack by music streaming apps. Compilation albums, mix tapes, magazines and crate digging have been replaced by algorithmic playlists that lack human touch and authenticity. We are being programmed to listen to more of the same. New artists are finding it harder than ever before to break through and get their music in front of new listeners - not to mention achieve the impossible dream of making a living from their music. This has to change. Earlier this year, we started beta testing a new communal listening experience on our website called [Fountain Radio](https://blog.fountain.fm/p/introducing-fountain-radio). The basic idea was to have a global queue where you pay to play a track - just like the old jukeboxes you can still find in some pubs and bars. You could pay upvote a track to change its position in the queue - and you could send a payment to support the artist currently playing. This early iteration of Fountain Radio was far from perfect, but it got us excited about discovering new music again. Today we are excited to launch a new and improved Fountain Radio experience in the [mobile app](https://www.fountain.fm/download) - and give artists the ability to host a takeover. After updating to version 1.1.8, you will be able to tune in to Fountain Radio from the Discover tab. Here’s how it works… #### **Add and upvote tracks in the queue** Search for tracks in your library or search all music on Fountain. Adding a track to the costs 100 sats (less than $0.10) and your selection will be added to the end of the queue. You can pay to upvote any track in the queue to change its position. 1 sat equals 1 upvote and the track with the most upvotes will play next. Just like zaps, you can pay as much as you like but the minimum is 100 sats. #### **Support the artist currently playing** Boost to send a payment with a message on enable streaming to send a small amount for every minute you spend listening. 95% of every boost and streaming payment goes directly to the artist currently playing and the remaining 5% is set aside for fees paid to PodcastIndex and Fountain. #### **Post in the live chat** Hang out with other listeners in the live chat by connecting Nostr. You can post chat messages for free. Every time a track is added or upvoted this appears in the activity feed too. #### **Save tracks to your library** Listen to your latest discoveries again later in the app. Tap on any content card to add a song to your library or a playlist, or see more music from that artist. #### **Listen to Fountain Radio on other apps** Fountain Radio now has its own RSS feed so you can tune in on any podcast app that supports live streams. Just bear in mind that you will only be able to listen. If you use Nostr livestream platforms such as [zap.stream](https://zap.stream/) or [tunestr.io](https://tunestr.io/), you can listen there and zaps will be paid to the artist currently playing. #### **Artist Takeovers** Artists can now take control of the music and host a listening party or an AMA. During a takeover, only the host can add tracks to the queue and upvotes are disabled. Fountain Radio takeovers help artists reach new listeners and find new fans, followers and supporters. If you have just posted new music to Fountain after uploading to [Wavlake](https://wavlake.com/) or [RSS Blue](https://rssblue.com/), takeovers are a great way to drive engagement - particularly if it’s the first time you’ve shared music in this way. We will also promote upcoming takeovers to help introduce your music to new audiences. The first artist takeover will be the UK’s very own [Joe Martin](https://fountain.fm/artist/cK853uZNytT8FS05vUwC) on **Wednesday 27th November at 12:00pm EST**. If you are interested to take over Fountain Radio and get your music heard by new listeners, get in touch. #### **Other bug fixes and improvements** - Fixed grey screen when viewing queue - Fixed clips not being posted to Nostr - Fixed custom deposit amount - Fixed crash after sharing or creating a clip - Fixed error on The Joe Rogan Experience - Fixed issue when @ symbol appears in a link sent in a comment - Fixed issue where latest episodes in library were not updating for some users - Fixed issue where episode could not be replayed if already listened to - Added error handling when Nostr keypair is already connected to another account - Added warning when using Fountain as a guest - Added prompt to share to Nostr after creating a clip - Added OPML file explorer

@ e83b66a8:b0526c2b

Can I suggest you read my book, it will tell you a lot. It is important you understand what Bitcoin is before you invest anything into it. https://www.amazon.co.uk/dp/B0CLJP6R3F/ Firstly, Bitcoin is not like anything else you have ever experienced in your life. Everything else is based on trust and there is a higher authority you can always turn to. If you loose access to your bank account, you can walk in to a branch with your ID papers and within half an hour or so, your account access will be restored by them. The bank control your account and the money held within it. If you loose your passport or driving license, the government can issue you new ones. They control your identity. If you get locked out of your house, you can call a locksmith and they will break in, legally, for you. Bitcoin is different, it is permissionless and trustless. Nobody can stop you spending your money and you can send it to anyone anywhere in the world instantly without having to trust a third party to authorise payment for you. By that same token, if you make a mistake and send it to the wrong address or if you lose the keys that secure your Bitcoin, it is gone, nobody can help you. You need to understand and be comfortable with that. As for Bitcoin as a store of value, this is the first stage that all new Bitcoiners go through, but if you do it properly, it will eventually be the least significant feature. However, as for Bitcoin price cycles. Every 4 years the supply is automatically halved. This happened on the 20th April this year, you probably saw we were in Warsaw at a halving party. It happened at 3:09am European time, so we were asleep. Nothing actually happens for around 6 months of the halving, but from 6 - 18 months after the halving, the price rises significantly to adapt to the new supply and scarcity. So, from the start of November the price has started to rise and will continue to do so in a saw tooth pattern for around the next year. The price rise often overshoots the new natural price level and so expect a crash around the end of next year, it will be significant and will take a year or so to recover, but will eventually settle to a new price. In 4 years time, around April 2028, the cycle will happen again. Bitcoin is not a short term investment, don’t invest unless you are prepared to hold for a minimum of 4 years. Holding bitcoin for 8 years can produce generational wealth. The three core tenets of Bitcoin are: Not your keys, not your coins - in other words, don’t leave them on exchanges Don’t trust, verify - which leads to: Do your own research Study Bitcoin, it will give you back far more than you can imagine.

@ e83b66a8:b0526c2b

I watched Tucker Carlson interview Roger Ver last night. I know we have our differences with Roger, and he has some less than pleasant personality traits, but he is facing 109 years in jail for tax evasion. While the charges may be technically correct, he should be able to pay the taxes and a fine and walk free. Even if we accept he did wrong, a minor prison term such as 6 months to 2 years would be appropriate in this case. We all know the severe penalty is an over reach by US authorities looking to make the whole crypto community scared about using any form of crypto as money. The US and many governments know they have lost the battle of Bitcoin as a hard asset, but this happened as a result of the Nash equilibrium, whereby you are forced to play a game that doesn’t benefit you, because not playing that game disadvantages you further. I.e. Governments loose control of the asset, but that asset is able to shore up their balance sheet and prevent your economy from failing (potentially). The war against Bitcoin (and other cryptos) as a currency, whereby you can use your Bitcoin to buy anything anywhere from a pint of milk in the local shop, to a house or car and everything in-between is a distant goal and one that is happening slowly. But it is happening and these are the new battle lines. Part of that battle is self custody, part is tax and part are the money transmitting laws. Roger’s case is also being used as a weapon of fear. I don’t hate Roger, the problem I have with Bitcoin cash is that you cannot run a full node from your home and if you can’t do this, it is left to large corporations to run the blockchain. Large corporations are much easier to control and coerce than thousands, perhaps millions of individuals. Just as China banned Bitcoin mining, so in this scenario it would be possible for governments to ban full nodes and enforce that ban by shutting down companies that attempted to do so. Also, if a currency like Bitcoin cash scaled to Visa size, then Bitcoin Cash the company would become the new Visa / Mastercard and only the technology would change. However, even Visa and Mastercard don’t keep transaction logs for years, that would require enormous amount of storage and have little benefit. Nobody needs a global ledger that keeps a record of every coffee purchased in every coffee shop since the beginning of blockchain time. This is why Bitcoin with a layer 2 payment system like Lightning is a better proposition than large blockchain cryptos. Once a payment channel is closed, the transactions are forgotten in the same way Visa and Mastercard only keep a transaction history for 1 or 2 years. This continues to allow the freedom for anybody, anywhere to verify the money they hold and the transactions they perform along with everybody else. We have consensus by verification.