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@ 8947a945:9bfcf626
2025-02-28 09:11:21
## Chef's notes
https://video.nostr.build/ea19333ab7f700a6557b6f52f1f8cfe214671444687fa7ea56a18e5d751fe0a9.mp4
https://video.nostr.build/bcae8d39e22f66689d51f34e44ecabdf7a57b5099cc456e3e0f29446b1dfd0de.mp4
## Details
- ⏲️ Prep time: 5 min
- 🍳 Cook time: 5 min
- 🍽️ Servings: 1
## Ingredients
- ไข่ 1 - 2 ฟอง
- ข้าวโอ๊ต 3 - 4 ช้อน
## Directions
1. ตอกไข่ + ตีไข่
2. ปรุงรส พริกไทย หรือ ซอสถั่วเหลืองตามชอบ
3. ใส่ข้าวโอ๊ต 3 - 4 ช้อน
4. ใส่ถั่วลิสงอบ 1 - 2 หยิบมือ
5. เทน้ำใส่พอท่วมข้าวโอ๊ต
6. เข้าไมโครเวฟ ไฟแรง 1 - 2 นาที
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@ da0b9bc3:4e30a4a9
2025-02-28 08:39:58
Hello Stackers!
Welcome on into the ~Music Corner of the Saloon!
A place where we Talk Music. Share Tracks. Zap Sats.
So stay a while and listen.
🚨Don't forget to check out the pinned items in the territory homepage! You can always find the latest weeklies there!🚨
🚨Subscribe to the territory to ensure you never miss a post! 🚨
originally posted at https://stacker.news/items/899482
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@ 1c19eb1a:e22fb0bc
2025-02-28 07:32:53
After my first major review of [Primal on Android](https://www.nostr-reviews.com/post/1733635103705/), we're going to go a very different direction for this next review. Primal is your standard "Twitter clone" type of kind 1 note client, now branching into long-form. They also have a team of developers working on making it one of the best clients to fill that use-case. By contrast, this review will not be focusing on any client at all. Not even an "other stuff" client.
Instead, we will be reviewing a very useful tool created and maintained by nostr:npub1w4uswmv6lu9yel005l3qgheysmr7tk9uvwluddznju3nuxalevvs2d0jr5 called #Amber. For those unfamiliar with Amber, it is an #Android application dedicated to managing your signing keys, and allowing you to log into various #Nostr applications without having to paste in your private key, better known as your #nsec. It is not recommended to paste your nsec into various applications because they each represent another means by which it could be compromised, and anyone who has your nsec can post as you. On Nostr, your #npub is your identity, and your signature using your private key is considered absolute proof that any given note, reaction, follow update, or profile change was authorized by the rightful owner of that identity.
It happens less often these days, but early on, when the only way to try out a new client was by inputting your nsec, users had their nsec compromised from time to time, or they would suspect that their key may have been compromised. When this occurs, there is no way to recover your account, or set a new private key, deprecating the previous one. The only thing you can do is start over from scratch, letting everyone know that your key has been compromised and to follow you on your new npub.
If you use Amber to log into other Nostr apps, you significantly reduce the likelihood that your private key will be compromised, because only one application has access to it, and all other applications reach out to Amber to sign any events. This isn't quite as secure as storing your private key on a separate device that isn't connected to the internet whatsoever, like many of us have grown accustomed to with securing our #Bitcoin, but then again, an online persona isn't nearly as important to secure for most of us as our entire life savings.
Amber is the first application of its kind for managing your Nostr keys on a mobile device. nostr:npub1w4uswmv6lu9yel005l3qgheysmr7tk9uvwluddznju3nuxalevvs2d0jr5 didn't merely develop the application, but literally created the specification for accomplishing external signing on Android which can be found in [NIP-55](https://github.com/nostr-protocol/nips/blob/master/55.md). Unfortunately, Amber is only available for Android. A signer application for iOS is in the works from nostr:npub1yaul8k059377u9lsu67de7y637w4jtgeuwcmh5n7788l6xnlnrgs3tvjmf, but is not ready for use at this time. There is also a new mobile signer app for Android and iOS called Nowser, but I have not yet had a chance to try this app out. From a cursory look at the Android version, it is indeed in the very early stages of development and cannot be compared with Amber.
This review of Amber is current as of version 3.2.5.
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## Overall Impression
Score: **4.5** / 5
I cannot speak highly enough about Amber as a tool that every Nostr user on Android should start using if they are not already. When the day comes that we have more options for well-developed signer apps on mobile, my opinion may very well change, but until then Amber is what we have available to us. Even so, it is an incredibly well thought-out and reliable tool for securing your nsec.
Despite being the only well-established Android signer available for Android, Amber ***can*** be compared with other external signing methods available on other platforms. Even with more competition in this arena, though, Amber still holds up incredibly well. If you are signing into web applications on a desktop, I still would recommend using a browser extension like #Alby or #Nos2x, as the experience is usually faster, more seamless, and far more web apps support this signing method ([NIP-07](https://github.com/nostr-protocol/nips/blob/master/07.md)) than currently support the two methods employed by Amber. Nevertheless that gap is definitely narrowing.
A running list I created of applications that support login and signing with Amber can be found here: [Nostr Clients with External Signer Support](nostr:naddr1qvzqqqrcvgpzpde8f55w86vrhaeqmd955y4rraw8aunzxgxstsj7eyzgntyev2xtqydhwumn8ghj7un9d3shjtnzwf5kw6r5vfhkcapwdejhgtcpr4mhxue69uhkg6ttv95k7ue3x5cnwtnwdaehgu339e3k7mf0qq4xummnw3ez6cmvd9jkuarn94mkjarg94jhsar9wfhxzmpdwd5kwmn9wgkhxatswphhyaqrcy76t)
I have run into relatively few bugs in my extensive use of Amber for all of my mobile signing needs. Occasionally the application crashes when trying to send it a signing request from a couple of applications, but I would not be surprised if this is no fault of Amber at all, and rather the fault of those specific apps, since it works flawlessly with the vast majority of apps that support either [NIP-55](https://github.com/nostr-protocol/nips/blob/master/55.md) or [NIP-46](https://github.com/nostr-protocol/nips/blob/master/46.md) login.
I also believe that mobile is the ideal platform to use for this type of application. First, because most people use Nostr clients on their phone more than on a desktop. There are, of course, exceptions to that, but in general we spend more time on our phones when interacting online. New users are also more likely to be introduced to Nostr by a friend having them download a Nostr client on their phone than on a PC, and that can be a prime opportunity to introduce the new user to protecting their private key. Finally, I agree with the following assessment from nostr:npub1jlrs53pkdfjnts29kveljul2sm0actt6n8dxrrzqcersttvcuv3qdjynqn.
nostr:nevent1qqsw0r6gzn05xg67h5q2xkplwsuzedjxw9lf7ntrxjl8ajm350fcyugpz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsyg9hyaxj3clfswlhyrd5kjsj5v04clhjvgeq6pwztmysfzdvn93gevpsgqqqye9qd30q62
The one downside to Amber is that it will be quite foreign for new users. That is partially unavoidable with Nostr, since folks are not accustomed to public/private key cryptography in general, let alone using a private key to log into websites or social media apps. However, the initial signup process is a bit cumbersome if Amber is being used as the means of initially generating a key pair. I think some of this could be foregone at start-up in favor of streamlining onboarding, and then encourage the user to back-up their private key at a later time.
## Features
Amber has some features that may surprise you, outside of just storing your private key and signing requests from your favorite Nostr clients. It is a full key management application, supporting multiple accounts, various backup methods, and even the ability to authorize other users to access a Nostr profile you control.
### Android Signing
This is the signing method where Amber really shines in both speed and ease of use. Any Android application that supports this standard, and even some progressive web-apps that can be installed to your Android's home-screen, can very quickly and seamlessly connect with Amber to authorize anything that you need signed with your nsec. All you have to do is select "Login with Amber" in clients like #Amethyst or #0xChat and the app will reach out to Amber for all signing requests from there on out. If you had previously signed into the app with your nsec, you will first need to log out, then choose the option to use Amber when you log back in.
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This is a massive deal, because everything you do on Nostr requires a signature from your private key. Log in? Needs a signature. Post a "GM" note? Needs a signature. Follow someone who zapped your note? Needs a signature. Zap them back? You guessed it; needs a signature. When you paste your private key into an application, it will automatically sign a lot of these actions without you ever being asked for approval, but you will quickly realize just how many things the client is doing on your behalf when Amber is asking you to approve them each time.
Now, this can also get quite annoying after a while. I recommend using the setting that allows Amber to automatically sign for basic functions, which will cut down on some of the authorization spam. Once you have been asked to authorize the same type of action a few times, you can also toggle the option to automatically authorize that action in the future. Don't worry, though, you have full control to require Amber to ask you for permission again if you want to be alerted each time, and this toggle is specific to each application, so it's not a blanket approval for all Nostr clients you connect with.
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This method of signing is just as fast as signing via browser extension on web clients, which users may be more accustomed to. Everything is happening locally on the device, so it can be very snappy and secure.
### Nostr Connect/Bunker Signing
This next method of signing has a bit of a delay, because it is using a Nostr relay to send encrypted information back and forth between the app the user is interacting with and Amber to obtain signatures remotely. It isn't a significant delay most of the time, but it is just enough to be noticeable.
Also, unlike the previous signing method that would automatically switch to Amber as the active application when a signing request is sent, this method only sends you a notification that you must be watching for. This can lead to situations where you are wondering why something isn't working in a client you signed into remotely, because it is waiting on you to authorize the action and you didn't notice the notification from Amber. As you use the application, you get used to the need to check for such authorization requests from time to time, or when something isn't working as expected.
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By default, Amber will use relay.nsec.app to communicate with whichever Nostr app you are connecting to. You can set a different relay for this purpose, if you like, though not just any relay will support the event kinds that Amber uses for remote signing. You can even run your own relay just for your own signing purposes. In fact, the creator of Amber has a relay application you can run on your phone, called Citrine, that can be used for signing with any web app you are using locally on your phone. This is definitely more of an advanced option, but it is there for you if you want it. For most users, sticking with relay.nsec.app will be just fine, especially since the contents of the events sent back and forth for signing are all encrypted.
Something many users may not realize is that this remote signing feature allows for issuing signing permissions to team members. For instance, if anyone ever joined me in writing reviews, I could issue them a connection string from Amber, and limit their permissions to just posting long-form draft events. Anything else they tried to do would require my explicit approval each time. Moreover, I could revoke those permissions if I ever felt they were being abused, without the need to start over with a whole new npub. Of course, this requires that your phone is online whenever a team member is trying to sign using the connection string you issued, and it requires you pay attention to your notifications so you can approve or reject requests you have not set to auto-approve. However, this is probably only useful for small teams, and larger businesses will want to find a more robust solution for managing access to their npub, such as Keycast from nostr:npub1zuuajd7u3sx8xu92yav9jwxpr839cs0kc3q6t56vd5u9q033xmhsk6c2uc.
The method for establishing a connection between Amber and a Nostr app for remote signing can vary for each app. Most, at minimum, will support obtaining a connection string from Amber that starts with "bunker://" and pasting it in at the time of login. Then you just need to approve the connection request from Amber and the client will log you in and send any subsequent signing requests to Amber using the same connection string.
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Some clients will also offer the option to scan a QR code to connect the client to Amber. This is quite convenient, but just remember that this also means the client is setting which relay will be used for communication between the two. Clients with this option will also have a connection string you can copy and paste into Amber to achieve the same purpose. For instance, you may need this option if you are trying to connect to an app on your phone and therefore can't scan the QR code using Amber on the same phone.
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### Multiple Accounts
Amber does not lock you into using it with only a single set of keys. You can add all of your Nostr "accounts" to Amber and use it for signing events for each independently. Of course, Nostr doesn't actually have "accounts" in the traditional sense. Your identity is simply your key-pair, and Amber stores and accesses each private key as needed.
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When first signing in using native Android signing as described above, Amber will default to whichever account was most recently selected, but you can switch to the account that is needed before approving the request. After initial login, Amber will automatically detect the account that the signing request is for.
### Key Backup & Restore
Amber allows multiple ways to back up your private key. As most users would expect, you can get your standard nsec and copy/paste it to a password manager, but you can also obtain your private key as a list of mnemonic seed words, an encrypted version of your key called an ncryptsec, or even a QR code of your nsec or ncryptsec.
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Additionally, in order to gain access to this information, Amber requires you to enter your device's PIN or use biometric authentication. This isn't cold-storage level protection for your private key by any means, especially since your phone is an internet connected device and does not store your key within a secure element, but it is about as secure as you can ask for while having your key accessible for signing Nostr events.
### Tor Support
While Amber does not have Tor support within the app itself, it does support connecting to Tor through Orbot. This would be used with remote signing so that Amber would not connect directly over clearnet to the relay used for communication with the Nostr app requesting the signature. Instead, Amber would connect through Tor, so the relay would not see your IP address. This means you can utilize the remote signing option without compromising your anonymity.
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### Additional Security
Amber allows the user the option to require either biometric or PIN authentication before approving signing requests. This can provide that extra bit of assurance that no one will be able to sign events using your private key if they happen to gain access to your phone. The PIN you set in Amber is also independent from the PIN to unlock your device, allowing for separation of access.
## Can My Grandma Use It?
Score: **4.0** / 5
At the end of the day, Amber is a tool for those who have some concept of the importance of protecting their private key by not pasting it into every Nostr client that comes along. This concept in itself is not terribly approachable to an average person. They are used to just plugging their password into every service they use, and even worse, they usually have the ***same password*** for everything so they can more readily remember it. The idea that they should never enter their "Nostr password" into any Nostr application would never occur to them unless someone first explained how cryptography works related to public/private key pairs.
That said, I think there can be some improvements made to how users are introduced to these concepts, and that a signer application like Amber might be ideal for the job. Considering Amber as a new user's first touchpoint with Nostr, I think it holds up well, but could be somewhat streamlined.
Upon opening the app, the user is prompted to either use their existing private key or "Create a new Nostr account." This is straightforward enough. "Account" is not a technically correct term with Nostr, but it is a term that new users would be familiar with and understand the basic concept.
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The next screen announces that the account is ready, and presents the user with their public key, explaining that it is "a sort of username" that will allow others to find them on Nostr. While it is good to explain this to the user, it is unnecessary information at this point. This screen also prompts the user to set a nickname and set a password to encrypt their private key. Since the backup options also allow the user to set this password, I think this step could be pushed to a later time. This screen would better serve the new user if it simply prompted them to set a nickname and short bio that could be saved to a few default relays.
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Of course, Amber is currently prompting for a password to be set up-front because the next screen requires the new user to download a "backup kit" in order to continue. While I do believe it is a good idea to encourage the creation of a backup, it is not crucial to do so immediately upon creation of a new npub that has nothing at stake if the private key is lost. This is something the UI could remind the user to do at a later time, reducing the friction of profile creation, and expediting getting them into the action.
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Outside of these minor onboarding friction points, I think Amber does a great job of explaining to the user the purpose of each of its features, all within the app and without any need to reference external documentation. As long as the user understands the basic concept that their private key is being stored by Amber in order to sign requests from other Nostr apps, so they don't have to be given the private key, Amber is very good about explaining the rest without getting too far into the technical weeds.
The most glaring usability issue with Amber is that it isn't available in the Play Store. Average users expect to be able to find applications they can trust in their mobile device's default app store. There is a valid argument to be made that they are incorrect in this assumption, but that doesn't change the fact that this is the assumption most people make. They believe that applications in the Play Store are "safe" and that anything they can't install through the Play Store is suspect. The prompts that the Android operating system requires the user to approve when installing "unknown apps" certainly doesn't help with this impression.
Now, I absolutely ***love*** the Zapstore from nostr:npub1wf4pufsucer5va8g9p0rj5dnhvfeh6d8w0g6eayaep5dhps6rsgs43dgh9, but it doesn't do much to alleviate this issue. Users will still need to be convinced that it is safe to install the Zapstore from the GitHub repo, and then install Amber from there. Furthermore, this adds yet another step to the onboarding process.
Instead of:
- Install Amber
- Set up your keys
- Install the client you want to use
- Log in with Amber
The process becomes:
- Go to the Zapstore GitHub and download the latest version from the releases page.
- Install the APK you downloaded, allowing any prompt to install unknown apps.
- Open Zapstore and install Amber, allowing any prompt to install unknown apps again.
- Open Amber and set up your keys.
- Install the client you want to use
- Log in with Amber
An application as important as Amber for protecting users' private keys should be as readily available to the new user as possible. New users are the ones most prone to making mistakes that could compromise their private keys. Amber should be available to them in the Play Store.
## How do UI Look?
Score: **4.5** / 5
Amber's UI can be described as clean but utilitarian. But then, Amber is a tool, so this is somewhat expected. It is not an app you will be spending a lot of time in, so the UI just needs to be serviceable. I would say it accomplishes this and then some. UI elements are generally easy to understand what they do, and page headings fill in the gaps where that is not the case.
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I am not the biggest fan of the color-scheme, particularly in light-mode, but it is not bad in dark-mode at all, and Amber follows whatever theme you have set for your device in that respect. Additionally, the color choice does make sense given the application's name.
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It must also be taken into consideration that Amber is almost entirely the product of a single developer's work. He has done a great job producing an app that is not only useful, but pleasant to interact with. The same cannot be said for most utility apps I have previously used, with interfaces that clearly made good design the lowest priority. While Amber's UI may not be the most beautiful Nostr app I have seen, design was clearly not an afterthought, either, and it is appreciated.
## Relay Management
Score: **4.9** / 5
Even though Amber is not a Nostr client, where users can browse notes from their favorite npubs, it still relies heavily on relays for some of its features. Primarily, it uses relays for communicating with other Nostr apps for remote signing requests. However, it also uses relays to fetch profile data, so that each private key you add to Amber will automatically load your chosen username and profile picture.
In the relay settings, users can choose which relays are being used to fetch profile data, and which relays will be used by default when creating new remote signing connection strings.
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The user can also see which relays are currently connected to Amber and even look at the information that has been passed back and forth on each of those active relays. This information about actively connected relays is not only available within the application, but also in the notification that Amber has to keep in your device's notification tray in order to continue to operate in the background while you are using other apps.
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Optionality is the name of the game when it comes to how Amber handles relay selection. The user can just stick with the default signing relay, use their own relay as the default, or even use a different relay for each Nostr application that they connect to for remote signing. Amber gives the user an incredible amount of flexibility in this regard.
In addition to all of this, because not all relays accept the event types needed for remote signing, when you add a relay address to Amber, it automatically tests that relay to see if it will work. This alone can be a massive time saver, so users aren't trying to use relays that don't support remote signing and wondering why they can't log into noStrudel with the connection string they got from Amber.

The only way I could see relay management being improved would be some means of giving the user relay recommendations, in case they want to use a relay other than relay.nsec.app, but they aren't sure which other relays will accept remote signing events. That said, most users who want to use a different relay for signing remote events will likely be using their own, in which case recommendations aren't needed.
## Current Users' Questions
The AskNostr hashtag can be a good indication of the pain points that other users are currently having with any Nostr application. Here are some of the most common questions submitted about Amber in the last two months.
nostr:nevent1qvzqqqqqqypzpv30auvvha0wkhteg500n3xd528063l6099zh37sgj2uevdm5mslqythwumn8ghj7ct49eex2mrp09skymr99ehhyee0qyt8wumn8ghj7ct4w35zumn0wd68yvfwvdhk6tcpz9mhxue69uhnzdps9enrw73wd9hj7qpqjx685wn6j3se7w6380ktwvrpydedpu06jd0cwfjawkgnzmahvs2s7t0585
This is a good example of Amber working correctly, but the app the user is trying to log into not working. In my experience with #Olas in particular, it sometimes allows remote signer login, and sometimes doesn't. Amber will receive the signing request and I will approve it, but Olas remains on the login screen.
If Amber is receiving the signing requests, and you are approving them, the fault is likely with the application you are trying to log into.
That's it. That's all the repeated questions I could find. Oh, there were a few one-off questions where relay.nsec.app wouldn't connect, or where the user's out-of-date web browser was the issue. Outside of that, though, there were no common questions about ***how*** to use Amber, and that is a testament to Amber's ease of use all on its own.
## Wrap Up
If you are on Android and you are not already using Amber to protect your nsec, please do yourself a favor and get it installed. It's not at all complicated to set up, and it will make trying out all the latest Nostr clients a safe and pleasant experience.
If you are a client developer and you have not added support for NIP-55 or NIP-46, do your users the courtesy of respecting the sanctity of their private keys. Even developers who have no intention of compromising their users' keys can inadvertently do so. Make that eventuality impossible by adding support for NIP-55 and NIP-46 signing.
Finally, I apologize for the extended time it took me to get this review finished. The time I have available is scarce, Nostr is distracting, and nostr:npub1w4uswmv6lu9yel005l3qgheysmr7tk9uvwluddznju3nuxalevvs2d0jr5 kept improving Amber even as I was putting it through its paces over the last two months. Keep shipping, my friend! You have made one of the most useful tools we have seen for Nostr to date!
Now... What should I review next?
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@ d830ee7b:4e61cd62
2025-02-28 05:45:17
ในชีวิตประจำวัน เรามักวัดมูลค่าของสิ่งต่างๆ ด้วยหน่วยเงินที่เราคุ้นเคย เช่น บาทหรือดอลลาร์
เราดีใจเมื่อการลงทุนของเรา **“เพิ่มขึ้น”** ในหน่วยเงินเหล่านั้น ..แต่น้อยคนนักจะหยุดคิดว่าไม้บรรทัดที่เราใช้วัดมูลค่านั้นมีความมั่นคงเพียงใด
หากไม้บรรทัดเองหดสั้นลงเรื่อยๆ สิ่งของที่เราวัดอาจดูเหมือนยาวขึ้นทั้งที่ความจริงไม่ได้เปลี่ยนไปเลย
แนวคิดนี้สะท้อนถึงการวัดมูลค่าทางเศรษฐกิจในหน่วยเงินที่เปลี่ยนแปลงตลอดเวลา และนำเราไปสู่หลักการเรื่อง **"ค่าเสียโอกาส" (opportunity cost)** ในการลงทุน
เมื่อเราเลือกถือสินทรัพย์ชนิดหนึ่ง เรากำลังสละโอกาสที่จะได้ผลตอบแทนจากอีกชนิดหนึ่งเสมอ
การทำความเข้าใจว่าอะไรเป็นตัววัดมาตรฐานของเราและค่าเสียโอกาสที่ตามมา จึงเป็นจุดเริ่มต้นในการสำรวจมุมมองใหม่ของการประเมินความมั่งคั่ง
ในบริบทนี้.. **บิตคอยน์** (Bitcoin) ได้ถูกเสนอขึ้นมาเป็น **“มาตรฐาน”** ใหม่ในการวัดมูลค่ว เสมือนกับที่ทองคำเคยเป็นมาตรฐานการเงินของโลกในอดีต
หนังสือ **The Bitcoin Standard** ของ Saifedean Ammous ชวนเราคิดว่า Bitcoin อาจกลายเป็นเหมือน **“มาตรฐานทองคำ”** ยุคดิจิทัล ที่มารองรับระบบการเงินสากลในอนาคต
เหตุผลสำคัญที่ Bitcoin ถูกมองว่าเป็นเงินตราที่มีความแข็งแกร่ง (sound money) คือคุณสมบัติที่หาได้ยากในเงินสกุลปัจจุบัน
มันมีปริมาณจำกัดตายตัว 21 ล้านหน่วย
ไม่มีธนาคารกลางใดสามารถพิมพ์เพิ่มได้ตามใจชอบ
ต่างจากเงินเฟียต (Fiat money) อย่างดอลลาร์ ที่จำนวนเพิ่มขึ้นตลอดเวลาจากนโยบายรัฐ
ผลคือ Bitcoin มีความทนทานต่อภาวะค่าเงินเสื่อมค่าจากเงินเฟ้อ และสามารถรักษามูลค่าได้ในระยะยาวดุจทองคำในอดีต
หลายคนจึงยกให้มันเป็น **“Sound Money”** หรือเงินที่มั่นคง เชื่อถือได้ในด้านมูลค่าเมื่อเวลาผ่านไป
แนวคิดนี้เองเปิดประตูไปสู่การใช้ Bitcoin เป็นหน่วยวัดเปรียบเทียบมูลค่าสินทรัพย์อื่นๆ เพื่อมองภาพเศรษฐกิจในมุมใหม่
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ลองจินตนาการกราฟหนึ่งที่นำดัชนีหุ้นชั้นนำอย่าง S&P 500 มาเปรียบเทียบในหน่วย Bitcoin แทนที่จะเป็นดอลลาร์ กราฟนี้จะแสดงให้เราเห็นภาพที่ต่างออกไปอย่างมากจากกราฟปกติที่คุ้นเคย
https://nostr.download/e344db050a8f6b023b2a9c7883560ad8a7be3fc4154d3908cbae3471b970272a.webp
หากย้อนไปช่วงปี 2011
หุ้น S&P 500 อยู่ที่ราว 1,300 จุด ขณะที่บิตคอยน์มีราคายังไม่ถึง 1 ดอลลาร์ นั่นหมายความว่าดัชนี S&P 500 ในเวลานั้นมีมูลค่าประมาณ 1,300 BTC
แต่เมื่อเวลาผ่านไป Bitcoin มีราคาสูงขึ้นมหาศาล ในปี 2021–2022 Bitcoin (เคยพุ่งขึ้นไปแตะหลักหลายหมื่นดอลลาร์ต่อ 1 BTC) ทำให้มูลค่าของ S&P 500 เมื่อวัดในหน่วย BTC กลับกลายเป็นเพียงเศษเสี้ยวของที่เคยเป็น
สมมติ S&P 500 ล่าสุดอยู่แถว 4,000 จุด และราคา BTC อยู่หลักแสนดอลลาร์ ดัชนี S&P 500 ทั้งดัชนีอาจมีค่าไม่ถึง 0.05 BTC ด้วยซ้ำ
ผลลัพธ์ที่สะท้อนออกมาบนกราฟคือเส้นค่าของ S&P 500 (เมื่อวัดด้วย BTC) ที่มีแนวโน้มลดลงเรื่อยๆ ตลอดทศวรรษที่ผ่านมา
แปลความได้ว่า.. บิตคอยน์มีมูลค่าเพิ่มขึ้นเมื่อเทียบกับสินทรัพย์การเงินดั้งเดิมอย่างหุ้น
ถึงขั้นที่... **การถือ Bitcoin ไว้ให้ผลตอบแทนดีกว่าการลงทุนในดัชนีหุ้นใหญ่เสียอีกในช่วงเวลาที่ผ่านมา**
แม้จะฟังดูเหลือเชื่อ แต่นี่คือภาพที่ข้อมูลได้บอกเรา.. ในมุมมองของมาตรฐาน Bitcoin ตลาดหุ้นสหรัฐฯ ที่ว่าทำผลตอบแทนโดดเด่น ยังดูซีดเซียวลงในทันที
ข้อมูลในช่วงสิบปีให้หลังตอกย้ำภาพนี้อย่างชัดเจน ผลตอบแทนของ Bitcoin เหนือกว่าสินทรัพย์แทบทุกชนิดที่เรารู้จักในยุคปัจจุบัน
ในเชิงตัวเลข Bitcoin ให้ผลตอบแทนเฉลี่ยต่อปีราว 230% ตลอดทศวรรษ 2011–2021 ขณะที่ดัชนี S&P 500 ซึ่งขึ้นชื่อว่าให้ผลตอบแทนดีสม่ำเสมอ ยังมีค่าเฉลี่ยผลตอบแทนต่อปีประมาณ 10% กว่าๆ เท่านั้นเอง เมื่อนำมาคำนวณทบต้น
นั่นหมายความว่า.. ในช่วงเวลาประมาณ 10 ปีที่ผ่านมา มูลค่าของ Bitcoin เพิ่มขึ้นหลักหลายหมื่นเปอร์เซ็นต์ ในขณะที่ S&P 500 เพิ่มขึ้นเพียงไม่กี่ร้อยเปอร์เซ็นต์
**ผลต่างระดับนี้ใหญ่พอที่จะเปลี่ยนวิธีที่เรามองความสำเร็จในการลงทุนไปเลยทีเดียว**
มีการสังเกตด้วยว่าเพียงช่วงห้าปีหลังสุด ดัชนี S&P 500 สูญเสียมูลค่าประมาณเกือบ 90% หากวัดในหน่วยของบิตคอยน์
พูดอีกอย่างคือ..
ในสายตาของคนที่ถือ Bitcoin ไว้เป็นเกณฑ์ *"เงิน 100 บาทที่ลงทุนในหุ้นเมื่อต้นช่วงเวลาดังกล่าว จะเหลือมูลค่าเพียงประมาณ 10 บาทเท่านั้นในปัจจุบัน** (เพราะ 90 บาทที่เหลือคือค่าเสียโอกาสที่หายไปเมื่อเทียบกับการถือ Bitcoin)
มุมมองแบบนี้ชวนให้เราตั้งคำถามว่า ที่ผ่านมาสินทรัพย์ที่ดูเหมือนมั่นคงปลอดภัย อาจไม่ปลอดภัยอย่างที่คิดเมื่อประเมินด้วยบรรทัดฐานใหม่
การเปรียบเทียบข้างต้นยังสะท้อนถึง ปัญหาการเสื่อมค่าของเงินเฟียต ซึ่งเราคุ้นเคยแต่บางครั้งมองข้ามความร้ายกาจของมัน
เงินดอลลาร์สหรัฐซึ่งเป็นสกุลเงินหลักของโลก สูญเสียอำนาจซื้อไปแล้วกว่า 96% ตั้งแต่ปี 1913 จนถึงปัจจุบัน (กล่าวคือ เงิน 1 ดอลลาร์ในสมัยนั้นมีค่าพอๆ กับเงินเกือบ 30 ดอลลาร์ในปัจจุบัน)
การที่ค่าเงินด้อยค่าลงเรื่อยๆ แบบนี้หมายความว่า **ตัวเลขราคาในหน่วยเงินเฟียตอาจเพิ่มขึ้นทั้งที่มูลค่าที่แท้จริงไม่เพิ่ม**
ยกตัวอย่างเช่น ดัชนี S&P 500 ทำจุดสูงสุดใหม่เป็นประวัติการณ์ในหน่วยดอลลาร์สหรัฐอยู่บ่อยครั้ง แต่หากปรับค่าด้วยปัจจัยเงินเฟ้อหรือปริมาณเงินที่พิมพ์เพิ่มเข้าไป เราจะพบว่ามูลค่าที่แท้จริงของดัชนีนี้ไม่ได้เพิ่มขึ้นมากอย่างที่เห็น
บางการวิเคราะห์ชี้ว่าหลังวิกฤตการเงินปี 2008 เป็นต้นมา แม้ดัชนี S&P 500 ในตัวเลขจะพุ่งขึ้นไม่หยุด แต่เมื่อหารด้วยปริมาณเงินที่เพิ่มขึ้น (เช่น M3) เส้นกราฟที่ได้กลับแทบไม่สูงไปกว่าจุดก่อนวิกฤตเลยด้วยซ้ำ
หมายความว่า.. ที่ราคาหุ้นสูงขึ้น ส่วนใหญ่ก็เพื่อไล่ตามสภาพคล่องเงินที่ไหลเข้าระบบเท่านั้น ไม่ได้สะท้อนการเติบโตแท้จริงของเศรษฐกิจมากนัก
เงินเฟ้อและการขยายตัวของปริมาณเงินจึงเปรียบเสมือน **“หมอก”** ที่บังตา ทำให้เรามองไม่ชัดว่าสิ่งใดเพิ่มมูลค่าแท้จริง สิ่งใดแค่ตัวเลขฟูขึ้นตามสกุลเงินที่ด้อยค่าลง
เมื่อ Bitcoin ถูกใช้เป็นหน่วยวัดเปรียบเทียบ มันทำหน้าที่เสมือนกระจกใสที่กวาดเอาหมอกเงินเฟ้อนั้นออกไป เราจึงเห็นภาพที่ต่างไปโดยสิ้นเชิง
เช่นเดียวกับกรณีที่เราเปรียบเทียบราคาสินค้าโภคภัณฑ์บางอย่างในหน่วย BTC ผลลัพธ์ก็อาจกลับทิศ
การทดลองหนึ่งของธนาคารเฟด สาขาเซนต์หลุยส์ เคยเล่นเปรียบเทียบราคา **“ไข่ไก่หนึ่งโหล”** ในหน่วยดอลลาร์กับในหน่วยบิตคอยน์
ปรากฏว่า... แม้ต้องการจะชี้ให้เห็นความผันผวนของ Bitcoin แต่ดันกลับตอกย้ำความจริงที่ว่า ในช่วงเงินเฟ้อสูง ราคาฟองไข่ที่ดูเพิ่มขึ้นเรื่อยๆ ในหน่วยดอลลาร์ จริงๆ แล้วทรงตัวหรือลดลงด้วยซ้ำเมื่อคิดเป็น BTC
นี่เป็นตัวอย่างสนุกๆ ที่บอกเราว่า กรอบอ้างอิง (frame of reference) ในการวัดมูลค่านั้นสำคัญเพียงใด
แน่นอนว่า Bitcoin เองก็มีความผันผวนสูงและยังอยู่ในช่วงเริ่มต้นเมื่อเทียบกับสินทรัพย์ดั้งเดิม
การที่มันพุ่งทะยานหลายหมื่นเปอร์เซ็นต์ที่ผ่านมาไม่ได้รับประกันว่ากราฟในหน่วย BTC ของสินทรัพย์ต่างๆ จะดิ่งลงอย่างนี้ไปตลอด
แต่สิ่งที่เกิดขึ้นแล้วได้ให้แง่คิดทางปรัชญาการเงินที่ลึกซึ้งกับเรา
อย่างแรกคือเรื่อง **ค่าเสียโอกาส** ที่กล่าวถึงตอนต้น ทุกการตัดสินใจทางการเงินมีต้นทุนค่าเสียโอกาสแฝงอยู่เสมอ เพียงแต่เมื่อก่อนเราอาจไม่เห็นมันชัดเจน
การเก็บออมเงินสดไว้เฉยๆ ในธนาคารมีต้นทุนคือผลตอบแทนที่สูญไปหากเราเลือกลงทุนอย่างอื่น การลงทุนในสินทรัพย์ A ก็ย่อมหมายถึงการไม่ได้ลงทุนในสินทรัพย์ B
หาก B นั้นให้ผลตอบแทนสูงกว่า เราก็สูญเสียส่วนต่างนั้นไป
สิบกว่าปีที่ผ่านมา Bitcoin ทำผลงานได้เหนือชั้นกว่าสินทรัพย์อื่นๆ มาก ค่าเสียโอกาสของการไม่ถือ Bitcoin จึงสูงลิ่วในช่วงนี้
สำหรับนักลงทุนที่มองย้อนกลับไป นี่คือบทเรียนราคาแพง บางคนอาจนึกเสียดายว่า **“รู้งี้ซื้อบิตคอยน์ไว้ตั้งแต่แรกซะก็ดี”**
แต่ประเด็นไม่ได้อยู่ที่การเสียดายอดีต แต่อยู่ที่ **การตระหนักรู้ถึงค่าเสียโอกาสและผลกระทบของมันที่มีต่อความมั่งคั่งของเราในระยะยาว** ต่างหาก
อีกแง่หนึ่งที่ลึกกว่านั้นคือเรื่อง **กรอบในการวัดมูลค่า** ของเราทุกวันนี้ว่าเหมาะสมแล้วหรือไม่
หากการที่เราใช้เงินเฟียตที่เสื่อมค่าเป็นตัววัด ทำให้เราประเมินค่าของสิ่งต่างๆ ผิดเพี้ยนไป การตัดสินใจทางเศรษฐกิจของเราก็อาจผิดทิศทางในระยะยาวได้
ลองนึกภาพว่า.. ถ้าเงินที่เราใช้อยู่มีมูลค่าเสถียรหรือเพิ่มขึ้นตามประสิทธิภาพการผลิตจริงๆ ของเศรษฐกิจ (เหมือนที่เงิน Bitcoin ถูกออกแบบมาให้ไม่เสื่อมค่าไปตามกาลเวลา) เราอาจไม่จำเป็นต้องวิ่งไล่หาผลตอบแทนสูงๆ เพียงเพื่อรักษามูลค่าเงินออมของตัวเองให้ทันเงินเฟ้อ
ผู้คนอาจวางแผนการเงินระยะยาวขึ้น แนวคิดเรื่อง **“เวลาที่ต้องใช้”** กับ **“อัตราส่วนลดของอนาคต”** (time preference) ก็จะเปลี่ยนไป
ดังที่ Ammous กล่าวไว้ใน The Bitcoin Standard ว่าเงินที่มีเสถียรภาพจะส่งเสริมให้คนออมและลงทุนในโครงการระยะยาวมากขึ้น ผิดกับระบบเงินเฟ้อที่ชักจูงให้ผู้คนรีบใช้จ่ายหรือเข้าร่วมเก็งกำไรระยะสั้นเพราะกลัวว่าเงินจะด้อยค่าไป
นี่ไม่ใช่แค่เรื่องการเงินส่วนบุคคล แต่สะท้อนถึงคุณภาพของการเติบโตทางเศรษฐกิจและนวัตกรรมในสังคมโดยรวมด้วย
หากเรามีหน่วยวัดมูลค่าที่เที่ยงตรง ไม่บิดเบือนไปตามนโยบายการเงินรายวัน เราก็อาจประเมินโครงการต่างๆ ได้ตามศักยภาพที่แท้จริงมากขึ้น เงินเฟ้อและการพิมพ์เงินจำนวนมากมักทำให้เกิดการลงทุนผิดที่ผิดทาง (malinvestment) เพราะสัญญาณราคาถูกบิดเบือน
เช่น ดอกเบี้ยที่ต่ำผิดปกติอาจทำให้เกิดหนี้ล้นเกินหรือลงทุนในโครงการที่ไม่ยั่งยืน
ในขณะที่มาตรฐานเงินที่เข้มงวดอย่าง Bitcoin อาจบังคับให้ทุกการลงทุนต้องมีเหตุผลรองรับที่แข็งแรงขึ้น เนื่องจากไม่สามารถอาศัยการอัดฉีดสภาพคล่องมาช่วยพยุงได้ง่ายๆ
เมื่อมาถึงตรงนี้..
เราอาจไม่ได้ข้อสรุปทันทีว่า **“ต่อไปนี้ฉันควรถือ Bitcoin แทนที่จะลงทุนอย่างอื่น”** และบทความนี้ก็ไม่ได้มีเจตนาจะชี้นำการลงทุนเช่นนั้น
เป้าหมายแท้จริงคือการเปิดมุมมองใหม่ว่า เราประเมินคุณค่าของสิ่งต่างๆ อย่างไร
ลองตั้งคำถามกับตัวเองว่า..
ทุกวันนี้เราวัดความร่ำรวยหรือความก้าวหน้าทางเศรษฐกิจด้วยหน่วยอะไร หน่วยนั้นวัดได้เที่ยงตรงหรือเปล่า?
หากเงินที่เราใช้วัดเองลดค่าลงทุกปีๆ เราจะมั่นใจได้อย่างไรว่าตัวเลขที่เพิ่มขึ้นบนกระดาษคือความมั่งคั่งที่เพิ่มขึ้นจริง?
การใช้ Bitcoin เป็นมาตรฐานเทียบเคียง เป็นเสมือนการลองวัดด้วยไม้บรรทัดอีกอันที่อาจตรงกว่าเดิม
ในหลายกรณีมันเผยให้เห็นภาพที่เราคาดไม่ถึงและท้าทายความเชื่อเดิมๆ ของเรา
บทเรียนที่ได้รับไม่ใช่ให้เราทุกคนเปลี่ยนไปคิดเป็น BTC ในชีวิตประจำวันทันที แต่คือการตระหนักว่า **หน่วยวัดมีความหมาย** และการมองโลกการเงินด้วยหน่วยวัดที่ต่างออกไปสามารถให้ข้อคิดที่ลึกซึ้งได้อย่างไร
ท้ายที่สุด ไม่ว่าจะเชื่อใน **“มาตรฐานบิตคอยน์”** หรือไม่นั้น ไม่สำคัญเท่ากับการที่เราได้ฉุกคิดและตั้งคำถามกับระบบที่เราใช้อยู่ทุกเมื่อเชื่อวัน
บางทีสิ่งที่ Bitcoin และปรัชญาการเงินแบบใหม่ๆ นำมาให้เรา อาจไม่ใช่คำตอบสำเร็จรูป แต่คือแรงกระตุ้นให้เราเปิดใจมองภาพใหญ่ของเศรษฐกิจในมุมที่กว้างขึ้น
ลองพิจารณาปัจจัยพื้นฐานอย่างค่าเงิน เวลา และโอกาสที่สูญเสียไปกับการตัดสินใจต่างๆ อย่างรอบด้านขึ้น
เมื่อเราเริ่มมองเห็นว่าการวัดมูลค่าของสิ่งต่างๆ ด้วย **ไม้บรรทัดที่ต่างออกไป** ให้อะไรเราได้บ้าง เราก็จะพร้อมที่จะปรับมุมมองและกลยุทธ์การเงินของตนเองให้เท่าทันโลกที่เปลี่ยนแปลงเสมอ
ไม่แน่ว่าในอนาคต เราอาจได้เห็นผู้คนพูดถึงราคาบ้านหรือดัชนีหุ้นในหน่วยบิตคอยน์อย่างเป็นเรื่องปกติ และการคิดเช่นนั้นอาจไม่ใช่เรื่องแปลกใหม่อีกต่อไป
เพราะเราได้เรียนรู้ที่จะมองผ่านเปลือกของหน่วยเงิน ไปสู่แก่นแท้ของมูลค่าจริงๆ ที่อยู่เบื้องหลังนั่นเอง
ขอบคุณ Thai Ratel สำหรับความกระจ่างในการวัดมูลค่าสินทรัพย์ต่าง ๆ ด้วยบิตคอยน์
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@ d830ee7b:4e61cd62
2025-02-28 05:07:17
In our daily lives, we often measure the value of things using familiar monetary units such as baht or dollars. We feel delighted when our investments **"increase"** in these units.
However, few people stop to consider how stable the measuring stick itself is. If the ruler we use to measure value keeps shrinking, the objects we measure may appear longer, even though their actual size remains unchanged. This concept reflects the way we assess economic value in constantly changing monetary units, leading us to the principle of opportunity cost in investment: when we choose to hold one type of asset, we are always giving up the opportunity to earn returns from another.
Understanding what serves as our standard measure and the opportunity costs that come with it is the first step toward exploring a new perspective on wealth assessment.
In this context, Bitcoin has been proposed as a new **"standard"** for measuring value, much like gold once served as the global financial standard in the past. Some view Bitcoin as the "digital gold standard" that could support the international financial system in the future.
A key reason Bitcoin is considered **"sound money"** is its rarity—something modern currencies lack. Its supply is permanently capped at 21 million units, meaning no central bank can print more at will. This contrasts with fiat money, such as the dollar or baht, which constantly increases in supply due to government policies.
As a result, Bitcoin is resistant to inflation-induced depreciation and can retain its value over the long term, much like gold in the past. Many therefore consider it **"sound money"**—a form of currency that is stable and reliable in preserving value over time.
This idea opens the door to using Bitcoin as a benchmark for comparing the value of other assets, offering a fresh perspective on the economy.
Imagine a graph that compares the leading stock index, **the S&P 500, in Bitcoin terms instead of dollars.**
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This graph would reveal a drastically different picture from the conventional charts we are familiar with. Looking back to 2011, the S&P 500 was around 1,300 points, while Bitcoin was priced at less than $1.
This means the S&P 500 index was valued at approximately 1,300 BTC at the time. However, as Bitcoin's price surged over the years—reaching tens of thousands of dollars per BTC in 2021–2022—the value of the S&P 500, when measured in BTC, shrank dramatically.
Suppose the S&P 500 currently stands at around 4,000 points, while Bitcoin is priced at six figures in dollars. The entire S&P 500 index might be worth less than 0.05 BTC.
The resulting graph would show a consistent downward trend in the S&P 500's value **(when measured in BTC)** over the past decade.
This means Bitcoin has appreciated relative to traditional financial assets like stocks—to the extent that simply holding Bitcoin has outperformed investing in major stock indices.
As surprising as this may seem, the data tells this story: from the perspective of a Bitcoin standard, even the high-performing U.S. stock market appears lackluster.
Data from the past decade reinforces this view. Bitcoin has outperformed nearly every asset class known today. In numerical terms, Bitcoin delivered an average annual return of **approximately 230% from 2011 to 2021**, whereas the S&P 500, which is renowned for its consistent performance, achieved an average annual return of just over 10%.
When compounded over time, this means Bitcoin's value increased by tens of thousands of percent over the past decade, while the S&P 500's value rose by only a few hundred percent.
The magnitude of this difference is significant enough to reshape how we perceive investment success. Observations also indicate that in just **the past five years, the S&P 500 has lost nearly 90% of its value when measured in Bitcoin.**
In other words, for someone using Bitcoin as their benchmark, a 100-baht investment in stocks at the beginning of this period would be worth only about 10 baht today—the remaining 90 baht representing the opportunity cost of not holding Bitcoin.
This perspective challenges our assumptions about the stability of supposedly safe assets when evaluated under a new standard.
This comparison also highlights the issue of fiat currency depreciation—something we are familiar with but often underestimate. The U.S. dollar, the world's primary reserve currency, has **lost over 96% of its purchasing power since 1913**.
This means that what $1 could buy back then now requires nearly $30. This ongoing depreciation implies that prices in fiat terms may rise even when real value does not. For example, the S&P 500 frequently reaches all-time highs in U.S. dollar terms.
However, when adjusted for inflation or money supply expansion, its real value has not increased as much as it seems. Some analyses suggest that since the 2008 financial crisis, although the S&P 500's nominal value has surged, when divided by the expanding money supply (such as M3), its graph remains largely unchanged from pre-crisis levels.
This suggests that stock prices have risen primarily in response to liquidity injections rather than genuine economic growth. Inflation and monetary expansion act like a **"fog,"** obscuring our ability to discern real value from mere numerical increases.
When Bitcoin is used as a comparative unit, it acts as a clear lens that removes this inflationary fog, revealing a completely different picture.
The same applies when comparing commodity prices in BTC. A notable experiment by the St. Louis Federal Reserve once examined the price of **"a dozen eggs"** in both dollars and Bitcoin. While the study aimed to highlight Bitcoin’s volatility, it inadvertently reinforced the point that during periods of high inflation, the price of eggs, which seemed to rise continuously in dollars, actually remained stable or even declined in BTC terms.
This amusing example illustrates the profound impact of measurement standards.
Of course, Bitcoin itself is highly volatile and still in its early stages compared to traditional assets. Its meteoric rise over the past decade does not guarantee that all asset graphs in BTC terms will continue declining indefinitely. However, what has already transpired provides deep financial insights.
**The first takeaway** is the concept of opportunity cost mentioned earlier—every financial decision has an inherent cost, even if we do not always recognize it. Holding cash in a bank carries the opportunity cost of the returns one could earn by investing elsewhere. Investing in asset A means missing out on asset B, and if B delivers higher returns, we incur that loss.
Over the past decade, Bitcoin has outperformed all other assets by a wide margin, making the opportunity cost of not holding Bitcoin extremely high. Investors looking back on this period might regret not having bought Bitcoin earlier, but the key lesson is not about dwelling on past decisions—it is about becoming aware of **opportunity costs** and their long-term impact on wealth.
On a deeper level, this discussion raises questions about whether our current valuation framework is truly appropriate. If using a depreciating fiat currency as a benchmark distorts our perception of value, our economic decisions may be misaligned in the long run.
Imagine a scenario where money retains or even appreciates in value in line with real economic productivity (as Bitcoin was designed to do). In such a system, people would not need to chase high returns merely to preserve their savings from inflation. They could plan finances with a longer-term perspective. Concepts like **"time preference"** and **"discounting the future"** would shift.
It is often argued that sound money encourages saving and long-term investment, whereas inflationary systems push people toward short-term spending or speculation out of fear that their money will lose value.
This is not just a matter of personal finance but a fundamental influence on the quality of economic growth and innovation. **A sound money standard** like **Bitcoin** might enforce stricter investment discipline, as liquidity injections could no longer be used as a safety net for unsustainable projects.
At this point, readers may not conclude that they should immediately hold Bitcoin instead of investing in other assets—and this article is not intended as investment advice. Its real purpose is to provoke thought about how we measure value.
**Ask yourself:** What unit do we use to gauge wealth and economic progress? Is that unit reliable?
If the money we use for measurement loses value every year, how can we be sure that increasing numbers on paper reflect true wealth growth?
Using Bitcoin as a reference standard is like measuring with a new ruler—one that may be more accurate. In many cases, it reveals unexpected insights and challenges long-held beliefs.
Ultimately, whether or not one believes in the **"Bitcoin standard"** is less important than the ability to critically examine the system we rely on daily.
Perhaps the greatest value Bitcoin and new financial philosophies offer is not a definitive answer but the impetus to look at the bigger economic picture with fresh eyes.
Thank you, Thai Ratel, for enlightening me on this topic!
Jakk Goodday.
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@ 3eba5ef4:751f23ae
2025-02-28 02:00:48
### Standardizing Bitcoin Layer 2 Withdrawals: Output Script Descriptor (BOSD)
Jose Storopoli and Trey Del Bonis from Alpen Labs introduced [Output Script Descriptor (BOSD)](https://bitcoinops.org/en/topics/output-script-descriptors/), a standardized withdrawal output format aimed at improving the on-chain withdrawal process for Bitcoin Layer 2s while eliminating reliance on ad-hoc rules.
One key issue BOSD addresses is the risk L2 operators face when users request non-standard transactions, such as those with oversized OP\_RETURN outputs. By abstracting complex validation logic into a more manageable format, BOSD helps mitigate these risks and serves as a crucial tool for maintaining the integrity and reliability of Bitcoin’s Layer 2 infrastructure.
* [Rust implementation of BOSD](https://crates.io/crates/bitcoin-bosd)
* [Specification](https://github.com/alpenlabs/bitcoin-bosd/blob/main/SPECIFICATION.md)
### Allowing Mobile Wallets to Settle Lightning Channels Without Extra UTXOs
Bastien Teinturier [introduced](https://delvingbitcoin.org/t/zero-fee-commitments-for-mobile-wallets/1453) an opt-in variant of Lightning Network’s [V3 commitments](https://bitcoinops.org/en/topics/v3-commitments/), enabling mobile wallets to settle channels using funds within the channel even in cases of theft attempts. This removes the need for users to maintain an on-chain UTXO to cover closing fees.
### Custodial Solutions Are Not Solutions
Matt Corallo, one of Bitcoin’s most prolific developers, has been vocal about the challenges of non-custodial Bitcoin payment solutions, particularly in the Lightning Network. His article, [*Custodial Solutions Are Not Solutions*](https://spiralbtc.substack.com/p/custodial-solutions-are-not-solutions), critiques the Bitcoin community’s fixation on new custodial models.
He argues that too many engineering resources have gone into custodial solutions like Blockstream’s Liquid (a multisig-controlled private blockchain), ecash (blind-signed custodial systems), Spark (Lightspark’s Statechains extension requiring near-total operator trust), and modern Ark variants (which rely heavily on trusted Statechain operators for scalability). While many of these systems offer excellent UX and privacy, they compromise Bitcoin’s core censorship resistance.
For now, Corallo believes Lightning remains the only non-custodial solution capable of supporting most Bitcoin users.
### Three Approaches to Solo Mining
There is significant debate over what qualifies as *solo mining*. Some define it as a miner earning block rewards alone, while others focus on miners generating their own block templates.
To clarify this, the open-source mining advocacy group [256 Foundation](https://256foundation.org/) explored the topic in their recent report, [*Swim at Your Own Risk*](https://256foundation.org/newsletters/256Foundation-Newsletter-2502_v1.pdf), outlining three types of solo mining:
* **Self-Hosted Solo Mining:** The miner runs their own Bitcoin node and Stratum server, generates block templates, broadcasts blocks, and keeps all rewards. This is the most "pure" form of solo mining.
* **OCEAN Mining**: The miner runs their own Bitcoin node and DATUM gateway, generates block templates, but relies on a pool to broadcast blocks. Miners can choose whether to share rewards with others, and the pool charges a 1% fee.
* **Joining a Solo Mining Pool**
* The miner operates mining hardware, while the pool provides block templates and broadcasts blocks. Pools supporting this include CK Pool, Braiins Solo Pool (2% fee), and Public Pool (no fees).
* While this method involves pools, individual miners still receive direct rewards, making it a hybrid form of solo mining.
### Lightning Network Growth Report
Lightning Network service provider Voltage Cloud released a report titled *The Lightning Network: Expanding Bitcoin Use Cases*, highlighting key trends:
* More businesses are integrating Lightning, a trend expected to continue through 2025.
* Older, inefficient channels deployed between 2018 and 2020 are closing in favor of larger, more efficient ones.
* The average total capacity of public Lightning channels is increasing, improving the success rate for larger payments.
* If nodes are well-optimized, transaction fees can be near zero, with settlement times under half a second.
* The Lightning Network is evolving toward fewer but better-connected nodes rather than many weakly connected ones.
* Lightning is proving itself as one of the most efficient transaction methods in the digital asset ecosystem.
* Lightning can be seen as a *yield-bearing network*, allowing users to earn without sacrificing Bitcoin custody.
[Download](https://www.voltage.cloud/expanding-bitcoin-use-cases) the full report.
### Mempool Block Art Created Through Anomalous Transactions
According to [256 Foundation’s monthly report](https://256foundation.org/newsletters/256Foundation-Newsletter-2502_v1.pdf), researcher *boerst* [discovered](https://x.com/boerst/status/1882390953496809484) anomalies involving empty block templates from mining pools like Binance, SECpool, Sigmapool, and EMCD. Earlier, SEC Pool mined [empty block 880496](https://mempool.space/block/00000000000000000000e3f7c2b91609da1394fd9a725fedb8123419188b34ec), which later returned to a normal transaction-included state.
These anomalies were linked to SEC Pool engineers configuring block templates to create block art. As a result, [block 880512](https://mempool.space/block/00000000000000000001c3fbc76a7efe7a320a8236ea6250bc15e4f7a67e727d) was shaped into a Satoshi pattern.
Additionally, some of the first transactions contained OP\_RETURN messages with the text:
*Declaration of Genesis: Awakening on the Bitcoin Network. Bitcoin’s promise of freedom will become an untamperable habitat for AI.*
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### Podcast | SNI: Fractional Reserve Banking is Obsolete
The latest episode of *The Reorg*, a podcast by the Satoshi Nakamoto Institute, discusses Pierre Rochard’s article *Fractional Reserve Banking is Obsolete*.
The article argues that the fractional reserve banking system leads to capital misallocation and price distortions, inevitably causing economic crises. Bitcoin, on the other hand, provides a safer, more transparent, and more efficient way to store and transfer funds, rendering traditional banking obsolete. Moreover, the increasing adoption of Bitcoin serves as a validation of Austrian economic theory: a 100% reserve banking system can prevent financial crises and economic downturns. A healthy economy expands based on capital goods rather than monetary or credit inflation.
[Listen here](https://nakamotoinstitute.org/podcasts/the-reorg/fractional-reserve-banking-is-obsolete/)
### Central Banks Postpone CBDC Plans
A survey conducted by the Official Monetary and Financial Institutions Forum (OMFIF) on 34 central banks, titled [*Why central banks should take the next step on CBDCs*](https://www.omfif.org/2025/02/why-central-banks-should-take-the-next-step-on-cbdcs/), reveals that 31% of central banks have delayed their retail central bank digital currency (CBDC) plans. The percentage of central banks inclined to issue a CBDC has dropped from 38% in 2022 to 18%. While this slowdown is a welcome shift, the survey [concludes](https://cointelegraph.com/news/central-banks-pushing-back-cbdc-plans-survey) that most central banks are still likely to issue a CBDC in the future.
### Governments Worldwide Seek to Break Encryption for Data Access
Will Jager [reveals](https://www.therage.co/encryption-is-under-siege/) the global trend of governments attempting to bypass encryption protections to access private data. He highlights the growing risks associated with government access to encrypted data, citing examples such as the UK government’s [order to Apple](https://www.bbc.com/news/articles/c20g288yldko) to create a backdoor for encrypted iCloud data, the EU’s [Chat Control proposal](https://www.techradar.com/computing/cyber-security/chat-control-all-you-need-to-know-about-the-eu-plan-to-scan-all-your-whatsapp-chats), and the U.S. [EARN IT Act](https://www.congress.gov/bill/118th-congress/senate-bill/1207), which expands government surveillance over encrypted communications.
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@ bf47c19e:c3d2573b
2025-02-28 00:06:22
Originalni tekst na [medium.com](https://medium.datadriveninvestor.com/do-not-buy-bitcoin-75da73226530).
###### Autor: [Aleksandar Svetski](https://primal.net/svetski) / Prevod: [₿itcoin Serbia](https://x.com/BTCSRB)
---
Nemojte kupovati Bitkoin!
Ni danas, ni kasnije, nikada!
Posvećeno skepticima, neznalicama, arogantnima i nezainteresovanima.
##### NE TREBA vam Bitkoin.
##### Molim vas. Nemojte ga kupovati.
##### Lično me ne zanima "masovna adopcija".
##### Draža mi je selektivna adopcija.
##### Svinja ne zaslužuje bisere.
##### Na vama je da platite cenu neznanja.
##### Kao i cenu glupavosti.
##### Kada dođe vreme, sa zadovoljstvom ću vam platiti hiljadu satošija mesečno za vaše vreme i smejati se usput.
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#### Najbitnija odluka koju ćete ikada doneti
NEMA važnije odluke za vašu finansijsku, ekonomsku i suverenu budućnost koju danas možete doneti nego da kupite Bitkoin.
A ako ne želite da izdvojite malo vremena da ga dalje proučite, JEDINA osoba koju treba da krivite kasnije ste vi sami.
Danas, Bitkoin se nalazi u svojoj ranoj, početnoj fazi. O ovome možete više pročitati ovde (hvala [ObiWan Kenobit](https://obiwankenobit.medium.com/)):
[Hiperbitkoinizacija: pobednik uzima sve](https://medium.com/coinmonks/hyperbitcoinization-winner-takes-all-69ab59f9695f)
Ovo JE prilika ne samo vašeg života, već verovatno i najveći mogući transfer bogatstva u istoriji, a najluđa stvar je što će se najveći deo toga odigrati u narednih nekoliko decenija.
Nalazimo se tek u prvih 12 godina ove promene, a već smo videlo kako je Bitkoin eksplodirao sa $0.008c (kada su za 10.000 BTC kupljene dve pice) na trenutnu cenu od oko $11.500.
**Ovo je tek početak.** Tek 0.001% svetskog bogatstva je denominirano u Bitkoinu.
Ako sada izdvojite samo trenutak da razumete novac, njegovu ulogu u društvu i kako će ekonomski darvinizam voditi ceo svet prema najrobusnijem, najčvršćem i najsigurnijem obliku očuvanja bogatstva, možete odlučiti da kupite neki deo pre nego što se ostatak sveta priključi.
Čitajući ovo, vi ste poput drevnog pojedinca koji je pronašao zlato, dok svi ostali koriste školjke. Razlika je u tome što živite u digitalnom dobu tokom kojeg će se ovaj novac pojaviti i sazreti *za vreme vašeg života*. Taj drevni pojedinac bi bio u pravu ali mrtav zato što je zlatu bilo potrebno nekoliko hiljada godina da uradi ono za šta će Bitkoinu biti potrebne decenije.
**Zamislite. Se. Nad. Tim.**
I naučite dalje o nastanku Bitkoina ovde:
[Zašto je Bitkoin važan](https://medium.com/hackernoon/why-bitcoin-matters-c8bf733b9fad)
I za ime ljubavi prema sopstvenoj budućnosti, preuzmite ovu kratku elektronsku knjigu i jebeno se edukujte!!
[Preuzmite "Investiranje u Bitkoin"](https://info.amber.app/investing-in-bitcoin)
I eto, dajem vam izvore.. jbt..
Svejedno...
Danas, imate izbor da kupite Bitkoin; najoskudniji novac u univerzumu, za siću!! Bukvalno možete kupiti hiljade satošija (najmanju jedinicu Bitkoina gde je 100.000.000 satošija = 1 BTC) za $1!!!
Danas ne postoji veća prilika, kao što sutradan neće postojati veće žaljenje kada više ne budete imali "izbor" da ga kupite.
Kada taj dan bude došao i kada budete to *morali* da prihvatite, setićete se ovih reči, ali avaj, biće prekasno, a vreme ne možete vratiti.
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#### Više nije 2012
Tada ste imali izgovor. Sada je 2020...
Apsolutno NEMA razloga zašto neko sa malo radoznalosti i relativno funkcionalnim mozgom ne može da prouči šta je Bitkoin, zašto postoji, zašto je važan i zašto bi trebalo da u njega prebaci malo ličnog bogatstva.
*Naročito* ako ima prijatelja poput mene ili mnoštvo Bitkoinera negde tamo.
Ja više neću smarati ljude sa porukama "*zašto treba kupiti Bitkoin*".
Više nije 2012. godina.
Danas imamo toliko puno informacija od toliko mnogo dobrih ljudi na svim mogućim medijima, tako da NEMATE IZGOVORA da ga ignorišete ili kažete: "ali niko mi nije rekao".
Ukoliko nemate da izdvojite bar malo vremena od vašeg Netflix rasporeda da biste istražili šta je ova stvar i zašto je bitna za vašu ličnu ekonomsku budućnost, onda zaslužujete to što imate.
Deluje okrutno ali dobrodošao u život, mladi žutokljunče.
Sada... Ako ste izdvojili malo vremena ali ste i dalje nezainteresovani ili dovoljno glupi da ga odbacite, onda zaista zaslužujete to što dolazi i ostatak ovog članka je definitivno za vas.
#### Ne želim da uopšte kupite Bitkoin!
Ok Aleks, ali šta ćemo sa "masovnom adopcijom"???
Pažljivo me slušajte:
##### Zabole me kurac da li će masovna adopcija doći za 10, 20, 50 ili 100 godina!
Ja sam skroz za selektivnu adopciju i potpuno za dugačku igru. Tako da sam spreman da čekam.
Kao u SVIM prirodnim, evolutivno funkcionalnim sistemima, oni koji seju i pomažu u izgradnji temelja bi trebalo da budu i nesrazmerno nagrađeni.
Ovo je 100% fer i predivno **nejednako** (*neki od vas koji me znate ste upoznati sa mojim stavom o nejednakosti kao najprezrenijem od svih ljudskih ideala. Radi se o odvratnom idealu koji nagrađuje najgore među nama*).
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**Tako da za skeptike i "neverne Tome" imam jednostavnu poruku:**
Nadam se da nećete uopšte kupiti Bitkoin. *Ni danas ni bilo kada.* Nadam se da će jedini put kada budete stupili u dodir sa Bitkoinom to biti jedini način da za nešto budete isplaćeni; npr. kada budete morali da ga zaradite.
Jedva čekam dan kada će mojih nekoliko hiljada satošija moći da kupi tri, četiri ili pet meseci vašeg vremena.
A u međuvremenu...
**Molim vas**, držite se vašeg fiat novca.
**Molim vas**, držite se vaših šitkoina.
Ne želim nikoga od vas "blokčejnera", šitkoinera, fiat nokoinera i vas svih ostalih klovnova koji mislite da znate bolje.
Ovaj rolerkoster je specijalan, tako da zašto bih želeo da ga delim sa vama glupanderima? Zašto bih bacao bisere pred svinje?
Ja verujem u *principe isključivosti.*
Ovo nije "kumbaya" ili "svi smo jedno". Jebite se.
Sa razlogom smo drugačiji.
Napraviću sam svoj krevet i ležati u njemu. Vi napravite svoje.
Kada bude došlo vreme, ja ću vam za vaše vreme plaćati satošijima zato što onda nećete imati izbora.
Tada ja pobeđujem, a vi gubite.
#### Kako sejete, tako žanjete
Razlika između mene i vas je ta što ja **kupujem** Bitkoin sada zato što tako **želim**. Vi ćete morati da **radite** za Bitkoin sutra zato što tako **morate**.
To je cena neznanja. *To* je cena arogancije.
To je cena gluposti koju ćete platiti i, koliko god ovo zvuči okrutno, istina je da *zaslužujete svaki delić toga.*
Svi ležimo u krevetu koji sami pravimo, a vi svoj krevet pravite sada.
Neće vam samouvereni Bitkoiner reći: "lepo sam vam rekao". Nova ekonomska realnost će vam to reći umesto njega.
"Lepo sam vam rekao" će vas udariti poput tone cigle kada shvatite razliku između vas i onih koji su bili razboriti, koji su marljivo štedeli, koji su uložili vreme i trud da otkriju šta je zapravo Bitkoin dok su ih svi nazivali ludacima.
Neće biti sažaljenja.
#### Nema više bacanja bisera pred svinje
Oni koji imaju priliku da kupe nešto Bitkoina sada, a odluče da to ne urade zahvaljujući neznanju, aroganciji ili gluposti, *zaslužuju da plate sa kamatom.*
Zaslužuju da trguju svoje sutrašnje dragoceno vreme i energiju za ono što su mogli da nabave danas i to bukvalno "za kikiriki".
Ovde nema greške: nismo jednaki. Mi smo veoma, veoma različiti ljudi.
Ja sam uložio vreme, trud i energiju **sada**, ne samo zbog sebe samog, već i da bih posadio seme i pomogao mreži.
Uradio sam svoj deo.
Vi ćete doći kasnije i pomoći mi da žanjem nagrade svog truda. Postojaćete da biste mi pomogli da uživam u plodovima.
To će biti vaša uloga.
Izabrao sam da rizikujem i steknem deo onoga zbog čega su me svi nazivali ludim zato što sam učio, verovao i shvatio **danas**, sa nadom da se izgradi bolja, poštenija i pravičnija budućnost za sve.
Radeći to, neki od nas će postati džinovi i nesrazmerno bogati. I vi imate tu šansu ali je mnogi od vas neće iskoristiti.
###### *I ja sam skroz ok sa tim. Više neću bacati bisere pred svinje.*
---
Ovaj članak može zvučati neprijatno ali više me zabole kurac. Sada je na vama da sami istražujete.
Ovo se događa bez obzira sviđalo vam se to ili ne. Ja i hiljade drugih Bitkoinera smo pisali eseje i eseje o ovome.
Neka imena sa kvalitetnim materijalom kojih se mogu setiti iz glave su:
* Naravno ja
* [Gigi](https://dergigi.com/)
* [Robert Breedlove](https://breedlove22.medium.com/)
* [Saifedean Ammous](https://saifedean.com/)
Ako ste radoznali možete ih pratiti. A ovo je sjajno mesto gde možete preuzeti nekoliko odličnih radova:
[The Bitcoin Times](https://bitcointimes.io/)
I za kraj, ako si Bitkoiner koji ovo čita, nikada nećeš znati da li sam zloban ili samo igram 4D šah.
Iskreno, nije ni bitno.
Ovo se dešava. Bitkoin osvaja svet. Ekonomski darvinizam je činjenica.
Sakupljajte vaše satošije, ponudite maslinovu grančicu, obratite pažnju na njihovu radoznalost ili iskru u njihovom oku kao znak da nastavite. Ukoliko toga nema ili naiđete na odbijanje, ostavite ih da se igraju kao svinje u govnima sa njihovim fiatom, deonicama ili šitkoinima.
Biće nam potrebni čistači za naše citadele.
-
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@ 6e0ea5d6:0327f353
2025-02-27 22:40:23
Ascolta bene, amico mio. Admiration is always better than mere understanding!
Simple understanding in a relationship is an easy, almost automatic gesture. Any woman can understand a man, tolerate his flaws, and accept his presence. But this often stems from pity, convenience, or merely the habit of having someone around. Understanding without admiration is not respect; it is resignation. A woman who only understands but does not admire may stay by your side, but she will never be truly loyal in her heart. And who wants to be merely tolerated out of pity when they could be followed with pride?
Admiration, on the other hand, is the pillar that upholds any worthy relationship. It’s not just about liking someone; it’s about recognizing the value in a man's daily battles, not just his victories. A woman who truly admires you takes pride in your strength, respects your struggles, and walks beside you with her head held high. She doesn’t just accept you—she follows you to the end because she sees greatness in what you build and what you represent.
Admiration is not just about affection; it’s about looking at the man beside you and feeling deep respect for who he is, what he builds, and what he stands for. Without that, what remains? Tolerance? Indifference? The woman who merely understands accepts your existence, but the one who admires follows you with pride because she sees value in your struggle, your strength, and your legacy.
So forget about being “understood” as a priority. Understanding can be a mere transaction, but admiration is the true foundation of any dignified relationship.
If your woman does not admire you for what you do, who you are, and what you build, she is either occupying a space she does not deserve, or you are too weak to be admired.
Thank you for reading, my friend!
If this message resonated with you, consider leaving your "🥃" as a token of appreciation.
A toast to our family!
-
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@ 378562cd:a6fc6773
2025-02-27 22:30:22
How much better would life be if we could hit a reset button and erase computers from existence?
It’s a question worth asking, especially in an age where screens dominate our attention, social interactions have been reduced to text bubbles, and Google searches have replaced critical thinking. Would we be smarter? Would life be simpler? Common sense suggests that without computers constantly thinking for us, we’d have to rely on our own intelligence a whole lot more.
**What Year Would We Have to Go Back To?**
To escape computers entirely, we’d have to rewind far beyond today’s digital chaos—probably to the early 20th century. While the 1940s and 1950s saw the first massive computers creeping into government and military operations, the average person had little to no interaction with them. The term “computer” wasn’t something you’d hear at the dinner table, in the classroom, or even in most workplaces. It wasn’t until the late 1970s and early 1980s—when personal computers like the Apple II and IBM PC hit the market—that computers began working their way into homes, offices, and eventually, every aspect of daily life.
Before then, life was entirely hands-on. People weren’t glued to screens but engaged in the world around them. Finances were managed with checkbooks and mental math, not banking apps. Phone numbers lived in people’s heads, not in a digital contact list. If you needed directions, you either studied a map or asked someone for help. Letters were written by hand, and the act of research meant flipping through encyclopedia pages, not skimming Wikipedia. An algorithm didn’t give you information; it was earned through effort, curiosity, and real-world experience.
The transition happened slowly, but once computers became mainstream, they took over with astonishing speed. What started as a tool for business efficiency soon became a crutch for everyday life, shaping how we communicate, learn, and even think. But if we could turn back time to before computers dictated our every move, would we find ourselves living richer, more connected, and perhaps even smarter lives?
**How Things Were Done Without Computers**
Before computers ran the world, problem-solving required actual thought. If you needed directions, you read a map or asked a local. If you wanted to research something, you visited a library or consulted an expert. People had to remember things because no cloud storage or smartphone reminder buzzed every five minutes.
Work was different before computers took over. Office tasks like accounting, inventory management, and record-keeping were done manually, with pens scratching across paper and filing cabinets brimming with carefully organized documents. Sure, it took longer, but there was an attention to detail that software often lacks—errors were caught by sharp human eyes, not overlooked by buggy algorithms or buried in digital spreadsheets.
Customer service meant face-to-face interactions or a polite phone call, not endless chatbot loops and automated phone menus that never seem to understand what you need. Shopping wasn’t an online transaction handled by an AI-driven algorithm—it was an experience, where store clerks knew regular customers by name and recommendations were based on conversation, not data tracking. Banking required a visit to a teller who personally handled your deposit, rather than a faceless app approving transactions in milliseconds.
Even skilled trades and craftsmanship thrived without automation. Mechanics relied on their knowledge of engines, not diagnostic computers spitting out error codes. Artists and designers used their hands, not digital tablets and AI-generated imagery. Cooking was a learned skill, not a task handed off to a microwave with pre-programmed settings.
Farming—one of the last truly hands-on professions—was once guided by intuition, experience, and a deep connection to the land. Farmers studied the sky, felt the moisture in the soil, and trusted generational wisdom and intuition to predict a good harvest. There were no satellite forecasts, automated irrigation systems, or genetically modified shortcuts—just nature's raw, unpredictable rhythm and the skill to work alongside it.
Even leisure time was more grounded. Families gathered around a radio for evening entertainment, played board games, read books, or simply sat on the porch and talked. People weren’t glued to screens, endlessly doom-scrolling through bad news and meaningless content—they were present, engaged, and connected in ways that modern life has all but erased.
**Would We Be Smarter Without Computers?**
The short answer here is "Hell Yes! It’s hard to argue otherwise. The more we outsource thinking to machines, the less we need to use our brains. We no longer need to remember phone numbers, calculate tips in our heads, or even read maps. Schools teach kids how to use software but often fail to emphasize basic skills like handwriting, mental math, or deep reading.
Common sense, once the backbone of decision-making, is in short supply. Why? Because computers do too much thinking for us. Instead of analyzing situations logically, people Google an answer and take it as fact. Instead of experiencing life firsthand, we experience it through a filtered, algorithm-driven feed. And instead of developing problem-solving skills, we ask AI to do it for us now.
**How Would Life Work Today Without Computers?**
If computers vanished overnight, the world would be thrown into chaos—at least initially. Banks would scramble to process transactions, businesses would struggle to function without automated systems, and most people—so dependent on screens for communication, navigation, and even basic problem-solving—would feel completely lost. The silence of a world without notifications, emails, and instant internet access might feel eerie at first.
But after the initial shock wore off, something incredible might happen. We’d be forced to slow down, to actually live in the present rather than constantly checking in on a digital one. People would have to interact face-to-face, strengthening real-life relationships instead of shallow online connections. Communities might grow tighter, with neighbors relying on each other instead of distant customer service centers and faceless apps. The lost critical thinking, memorization, and hands-on problem-solving skills would resurface out of necessity.
Work would change, too. Without computers dictating every move, businesses would have to rethink their operations. There would be less automation but more craftsmanship, less efficiency but more human intuition. Transactions would be slower but perhaps more intentional. Creativity, once overshadowed by digital shortcuts, would thrive as people relied on their own talents rather than the latest AI-generated solution.
Now, picture a world where children race bikes and climb trees instead of being glued to tablets, where conversations happen over dinner tables rather than through screens. Where decisions are made based on wisdom, instinct, and experience, not whatever happens to be trending.
Would life be harder? At first, sure. But would it be better? Arguably, yes.
Maybe it’s time we step back and ask ourselves: Are computers running our lives, or are they ruining them? The truth is, they’re doing both. They’ve woven themselves into every aspect of our daily existence, dictating how we work, communicate, and even think. They make life more convenient, sure—but at what cost? Over time, as we hand over more control to algorithms, automation, and artificial intelligence, we risk losing the very things that make us human: deep thought, real-world problem-solving, and genuine face-to-face connection.
Computers have made us more efficient, but also more dependent. They’ve expanded our access to information, yet dulled our ability to think critically. They connect us instantly across the globe, yet leave us lonelier than ever. The balance is tipping, and if we’re not careful, the very technology designed to serve us may quietly end up ruling us.
What are YOUR thoughts? #asknostr
-
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@ 4523be58:ba1facd0
2025-02-27 22:20:33
# NIP-117
## The Double Ratchet Algorithm
The Double Ratchet is a key rotation algorithm for secure private messaging.
It allows us to 1) communicate on Nostr without revealing metadata (who you are communicating with and when), and 2) keep your message history and future messages safe even if your main Nostr key is compromised.
Additionally, it enables disappearing messages that become undecryptable when past message decryption keys are discarded after use.
See also: [NIP-118](./118.md): Nostr Double Ratchet Invites
### Overview
"Double ratchet" means we use 2 "ratchets": cryptographic functions that can be rotated forward, but not backward: current keys can be used to derive next keys, but not the other way around.
Ratchet 1 uses Diffie-Hellman (DH) shared secrets and is rotated each time the other participant acknowledges a new key we have sent along with a previous message.
Ratchet 2 generates encryption keys for each message. It rotates after every message, using the previous message's key as input (and the Ratchet 1 key when it rotates). This process ensures forward secrecy for consecutive messages from the same sender in between Ratchet 1 rotations.
## Nostr implementation
We implement the Double Ratchet Algorithm on Nostr similarly to Signal's [Double Ratchet with header encryption](https://signal.org/docs/specifications/doubleratchet/#double-ratchet-with-header-encryption), but encrypting the message headers with [NIP-44](./44.md) conversation keys instead of symmetric header keys.
Ratchet 1 keys are standard Nostr keys. In addition to encryption, they are also used for publishing and subscribing to messages on Nostr. As they are rotated and not linked to public Nostr identities, metadata privacy is preserved.
## Nostr event format
### Message
#### Outer event
```typescript
{
kind: 1060,
content: encryptedInnerEvent,
tags: [["header", encryptedHeader]],
pubkey: ratchetPublicKey,
created_at,
id,
sig
}
```
We subscribe to Double Ratchet events based on author public keys which are ephemeral — not used for other purposes than the Double Ratchet session. We use the regular event kind `1060` to differentiate it from other DM kinds, retrieval of which may be restricted by relays.
The encrypted header contains our next nostr public key, our previous sending chain length and the current message number.
#### Inner event
Inner events must be [NIP-59](https://github.com/nostr-protocol/nips/blob/master/59.md) Rumors (unsigned Nostr events) allowing plausible deniability.
With established Nostr event kinds, clients can implement all kinds of features, such as replies, reactions, and encrypted file sharing in private messages.
Direct message and encrypted file messages are defined in [NIP-17](https://github.com/nostr-protocol/nips/blob/master/17.md).
## Algorithm
Signal's [Double Ratchet with header encryption](https://signal.org/docs/specifications/doubleratchet/#double-ratchet-with-header-encryption) document is a comprehensive description and explanation of the algorithm.
In this NIP, the algorithm is only described in code, in order to highlight differences to the Signal implementation.
### External functions
We use the following Nostr functions ([NIP-01](https://github.com/nostr-protocol/nips/blob/master/01.md)):
- `generateSecretKey()` for creating Nostr private keys
- `finalizeEvent(partialEvent, secretKey)` for creating valid Nostr events with pubkey, id and signature
We use [NIP-44](https://github.com/nostr-protocol/nips/blob/master/44.md) functions for encryption:
- `nip44.encrypt`
- `nip44.decrypt`
- `nip44.getConversationKey`
[NIP-59](https://github.com/nostr-protocol/nips/blob/master/59.md):
- createRumor
Key derivation function:
```typescript
export function kdf(
input1: Uint8Array,
input2: Uint8Array = new Uint8Array(32),
numOutputs: number = 1
): Uint8Array[] {
const prk = hkdf_extract(sha256, input1, input2);
const outputs: Uint8Array[] = [];
for (let i = 1; i <= numOutputs; i++) {
outputs.push(hkdf_expand(sha256, prk, new Uint8Array([i]), 32));
}
return outputs;
}
```
### Session state
With this information you can start or continue a Double Ratchet session. Save it locally after each sent and received message.
```typescript
interface SessionState {
theirCurrentNostrPublicKey?: string;
theirNextNostrPublicKey: string;
ourCurrentNostrKey?: KeyPair;
ourNextNostrKey: KeyPair;
rootKey: Uint8Array;
receivingChainKey?: Uint8Array;
sendingChainKey?: Uint8Array;
sendingChainMessageNumber: number;
receivingChainMessageNumber: number;
previousSendingChainMessageCount: number;
// Cache of message & header keys for handling out-of-order messages
// Indexed by Nostr public key, which you can use to resubscribe to unreceived messages
skippedKeys: {
[pubKey: string]: {
headerKeys: Uint8Array[];
messageKeys: { [msgIndex: number]: Uint8Array };
};
};
}
```
### Initialization
Alice is the chat initiator and Bob is the recipient. Ephemeral keys were exchanged earlier.
```typescript
static initAlice(
theirEphemeralPublicKey: string,
ourEphemeralNostrKey: KeyPair,
sharedSecret: Uint8Array
) {
// Generate ephemeral key for the next ratchet step
const ourNextNostrKey = generateSecretKey();
// Use ephemeral ECDH to derive rootKey and sendingChainKey
const [rootKey, sendingChainKey] = kdf(
sharedSecret,
nip44.getConversationKey(ourEphemeralNostrKey.private, theirEphemeralPublicKey),
2
);
return {
rootKey,
theirNextNostrPublicKey: theirEphemeralPublicKey,
ourCurrentNostrKey: ourEphemeralNostrKey,
ourNextNostrKey,
receivingChainKey: undefined,
sendingChainKey,
sendingChainMessageNumber: 0,
receivingChainMessageNumber: 0,
previousSendingChainMessageCount: 0,
skippedKeys: {},
};
}
static initBob(
theirEphemeralPublicKey: string,
ourEphemeralNostrKey: KeyPair,
sharedSecret: Uint8Array
) {
return {
rootKey: sharedSecret,
theirNextNostrPublicKey: theirEphemeralPublicKey,
// Bob has no ‘current’ key at init time — Alice will send to next and trigger a ratchet step
ourCurrentNostrKey: undefined,
ourNextNostrKey: ourEphemeralNostrKey,
receivingChainKey: undefined,
sendingChainKey: undefined,
sendingChainMessageNumber: 0,
receivingChainMessageNumber: 0,
previousSendingChainMessageCount: 0,
skippedKeys: {},
};
}
```
### Sending messages
```typescript
sendEvent(event: Partial<UnsignedEvent>) {
const innerEvent = nip59.createRumor(event)
const [header, encryptedData] = this.ratchetEncrypt(JSON.stringify(innerEvent));
const conversationKey = nip44.getConversationKey(this.state.ourCurrentNostrKey.privateKey, this.state.theirNextNostrPublicKey);
const encryptedHeader = nip44.encrypt(JSON.stringify(header), conversationKey);
const outerEvent = finalizeEvent({
content: encryptedData,
kind: MESSAGE_EVENT_KIND,
tags: [["header", encryptedHeader]],
created_at: Math.floor(now / 1000)
}, this.state.ourCurrentNostrKey.privateKey);
// Publish outerEvent on Nostr, store inner locally if needed
return {outerEvent, innerEvent};
}
ratchetEncrypt(plaintext: string): [Header, string] {
// Rotate sending chain key
const [newSendingChainKey, messageKey] = kdf(this.state.sendingChainKey!, new Uint8Array([1]), 2);
this.state.sendingChainKey = newSendingChainKey;
const header: Header = {
number: this.state.sendingChainMessageNumber++,
nextPublicKey: this.state.ourNextNostrKey.publicKey,
previousChainLength: this.state.previousSendingChainMessageCount
};
return [header, nip44.encrypt(plaintext, messageKey)];
}
```
### Receiving messages
```typescript
handleNostrEvent(e: NostrEvent) {
const [header, shouldRatchet, isSkipped] = this.decryptHeader(e);
if (!isSkipped) {
if (this.state.theirNextNostrPublicKey !== header.nextPublicKey) {
// Received a new key from them
this.state.theirCurrentNostrPublicKey = this.state.theirNextNostrPublicKey;
this.state.theirNextNostrPublicKey = header.nextPublicKey;
this.updateNostrSubscriptions()
}
if (shouldRatchet) {
this.skipMessageKeys(header.previousChainLength, e.pubkey);
this.ratchetStep(header.nextPublicKey);
}
}
decryptHeader(event: any): [Header, boolean, boolean] {
const encryptedHeader = event.tags[0][1];
if (this.state.ourCurrentNostrKey) {
const conversationKey = nip44.getConversationKey(this.state.ourCurrentNostrKey.privateKey, event.pubkey);
try {
const header = JSON.parse(nip44.decrypt(encryptedHeader, conversationKey)) as Header;
return [header, false, false];
} catch (error) {
// Decryption with currentSecret failed, try with nextSecret
}
}
const nextConversationKey = nip44.getConversationKey(this.state.ourNextNostrKey.privateKey, event.pubkey);
try {
const header = JSON.parse(nip44.decrypt(encryptedHeader, nextConversationKey)) as Header;
return [header, true, false];
} catch (error) {
// Decryption with nextSecret also failed
}
const skippedKeys = this.state.skippedKeys[event.pubkey];
if (skippedKeys?.headerKeys) {
// Try skipped header keys
for (const key of skippedKeys.headerKeys) {
try {
const header = JSON.parse(nip44.decrypt(encryptedHeader, key)) as Header;
return [header, false, true];
} catch (error) {
// Decryption failed, try next secret
}
}
}
throw new Error("Failed to decrypt header with current and skipped header keys");
}
ratchetDecrypt(header: Header, ciphertext: string, nostrSender: string): string {
const plaintext = this.trySkippedMessageKeys(header, ciphertext, nostrSender);
if (plaintext) return plaintext;
this.skipMessageKeys(header.number, nostrSender);
// Rotate receiving key
const [newReceivingChainKey, messageKey] = kdf(this.state.receivingChainKey!, new Uint8Array([1]), 2);
this.state.receivingChainKey = newReceivingChainKey;
this.state.receivingChainMessageNumber++;
return nip44.decrypt(ciphertext, messageKey);
}
ratchetStep(theirNextNostrPublicKey: string) {
this.state.previousSendingChainMessageCount = this.state.sendingChainMessageNumber;
this.state.sendingChainMessageNumber = 0;
this.state.receivingChainMessageNumber = 0;
this.state.theirNextNostrPublicKey = theirNextNostrPublicKey;
// 1st step yields the new conversation key they used
const conversationKey1 = nip44.getConversationKey(this.state.ourNextNostrKey.privateKey, this.state.theirNextNostrPublicKey!);
// and our corresponding receiving chain key
const [theirRootKey, receivingChainKey] = kdf(this.state.rootKey, conversationKey1, 2);
this.state.receivingChainKey = receivingChainKey;
// Rotate our Nostr key
this.state.ourCurrentNostrKey = this.state.ourNextNostrKey;
const ourNextSecretKey = generateSecretKey();
this.state.ourNextNostrKey = {
publicKey: getPublicKey(ourNextSecretKey),
privateKey: ourNextSecretKey
};
// 2nd step yields the new conversation key we'll use
const conversationKey2 = nip44.getConversationKey(this.state.ourNextNostrKey.privateKey, this.state.theirNextNostrPublicKey!);
// And our corresponding sending chain key
const [rootKey, sendingChainKey] = kdf(theirRootKey, conversationKey2, 2);
this.state.rootKey = rootKey;
this.state.sendingChainKey = sendingChainKey;
}
skipMessageKeys(until: number, nostrSender: string) {
if (this.state.receivingChainMessageNumber + MAX_SKIP < until) {
throw new Error("Too many skipped messages");
}
if (!this.state.skippedKeys[nostrSender]) {
this.state.skippedKeys[nostrSender] = {
headerKeys: [],
messageKeys: {}
};
if (this.state.ourCurrentNostrKey) {
const currentSecret = nip44.getConversationKey(this.state.ourCurrentNostrKey.privateKey, nostrSender);
this.state.skippedKeys[nostrSender].headerKeys.push(currentSecret);
}
const nextSecret = nip44.getConversationKey(this.state.ourNextNostrKey.privateKey, nostrSender);
this.state.skippedKeys[nostrSender].headerKeys.push(nextSecret);
}
while (this.state.receivingChainMessageNumber < until) {
const [newReceivingChainKey, messageKey] = kdf(this.state.receivingChainKey!, new Uint8Array([1]), 2);
this.state.receivingChainKey = newReceivingChainKey;
this.state.skippedKeys[nostrSender].messageKeys[this.state.receivingChainMessageNumber] = messageKey;
this.state.receivingChainMessageNumber++;
}
}
trySkippedMessageKeys(header: Header, ciphertext: string, nostrSender: string): string | null {
const skippedKeys = this.state.skippedKeys[nostrSender];
if (!skippedKeys) return null;
const messageKey = skippedKeys.messageKeys[header.number];
if (!messageKey) return null;
delete skippedKeys.messageKeys[header.number];
if (Object.keys(skippedKeys.messageKeys).length === 0) {
delete this.state.skippedKeys[nostrSender];
}
return nip44.decrypt(ciphertext, messageKey);
}
```
-
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@ c9f48a56:234112d2
2025-02-27 21:43:47
**" The Power of Buying $2.50 of Bitcoin Every Day: A Deep Dive into Small-Scale Crypto Investing "**
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**Imagine this:** every day, you set aside $2.50—the price of a cheap coffee or a quick snack—and use it to buy Bitcoin. It doesn’t sound like much, right? But over time, this tiny habit could turn into something surprisingly meaningful. Let’s break down what happens when you buy $2.50 worth of Bitcoin daily, with its price sitting at $85,000 today, February 27, 2025. Spoiler: it’s less about getting rich quick and more about playing the long game with a volatile asset.
**The Basics: What $2.50 Gets You Today**
Bitcoin operates on a micro level through satoshis—think of them as the pennies of the Bitcoin world. One Bitcoin equals 100 million satoshis. At $85,000 per Bitcoin, each satoshi costs $0.00085 ($85,000 ÷ 100,000,000). So, with your daily $2.50:
- $2.50 ÷ $0.00085 = ~2,941 satoshis.
- That’s 0.00002941 Bitcoin per day.
It’s a sliver of a coin—barely a whisper in the crypto universe. But that’s the beauty of it: you’re not swinging for the fences; you’re stacking crumbs into a pile.
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**Scaling It Up: Monthly and Yearly Gains**
Let’s stretch this out. Over 30 days, you’re spending $75 ($2.50 × 30). That nets you:
- 2,941 satoshis × 30 = 88,230 satoshis, or 0.0008823 Bitcoin.
Over a full year (365 days), it’s $912.50 spent and:
- 2,941 satoshis × 365 = 1,073,465 satoshis, or 0.01073465 Bitcoin.
At today’s $85,000 price, that year’s worth of Bitcoin is valued at $912.50—exactly what you put in. No profit, no loss. But Bitcoin doesn’t just sit there. It’s a rollercoaster, and your daily buys are a way to ride it without losing your lunch.
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**The Dollar-Cost Averaging Magic**
This method is a textbook example of dollar-cost averaging (DCA). Instead of dumping a lump sum into Bitcoin and praying the price moons, you spread your buys across time. When Bitcoin dips, your $2.50 grabs more satoshis. When it spikes, you get less. Over months or years, this evens out the wild swings.
Say Bitcoin drops to $50,000 tomorrow. Your $2.50 would buy 5,000 satoshis ($2.50 ÷ $0.0005). If it surges to $100,000, you’d get 2,500 satoshis ($2.50 ÷ $0.001). The average price you pay ends up somewhere in the middle, protecting you from buying all-in at a peak.
**What Could Happen? The Scenarios**
Here’s where it gets fun (or nerve-wracking, depending on your vibe). After a year of $2.50 daily buys, you’ve got 0.01073465 Bitcoin. Let’s play out some futures:
- **Bitcoin hits $100,000:** Your stash is worth $1,073.47. You’ve spent $912.50, so that’s a $160.97 profit—about 17.6% return. Not bad for pocket change.
- **Bitcoin climbs to $150,000:** Now it’s $1,610.20—a $697.70 gain, or 76.5%. Starting to feel like a sneaky good move.
- **Bitcoin falls to $50,000:** Your pile’s worth $536.73. You’re down $375.77, or 41%. Ouch, but you’re still in the game with minimal damage.
- **Bitcoin crashes to $20,000:** It’s $214.69—a $697.81 loss, 76.5% down. Rough, but $912.50 over a year isn’t a life-ruining bet.
The point? This isn’t about timing the market perfectly—it’s about staying consistent and letting Bitcoin’s long-term trajectory (if you believe in it) do the heavy lifting.
**The Real World: Fees and Friction**
One catch: exchanges aren’t free. Most platforms charge a fee—maybe 1-2% per trade, or a flat rate like $0.10. On a $2.50 buy, that’s brutal. A 2% fee is $0.05, leaving you $2.45 to spend (2,882 satoshis instead of 2,941). A $0.10 flat fee? You’re down to $2.40 (2,823 satoshis). Over a year, fees could shave off 50,000+ satoshis from your total. Look for low-fee options or batch your buys weekly to dodge this trap.
**Why $2.50? The Psychology and Practicality**
Why not $5 or $10? Simple: $2.50 is so small you barely notice it. It’s a pack of gum, a vending machine soda, a tip you’d leave without blinking. Psychologically, it’s easy to stick with. Practically, it keeps your risk tiny while still giving you skin in the crypto game. If Bitcoin goes to zero, you’re out $912.50 after a year—annoying, but not catastrophic. If it 10xes, you’ve got a nice little win.
**How to Start**
The best way to kick this off is by mining with Ember Fund—it’s how I stack up to 100 satoshis per hour and fund my $2.50 daily buys without spending a dime upfront. Ember’s app lets us earn free satoshis just by tapping a button daily to start a 24-hour mining cycle. You begin at a base rate of 13 satoshis per hour, which is 312 satoshis daily ($0.27 at $85,000 Bitcoin), but with referrals, it scales fast—each friend adds 10-13 satoshis per hour when they mine with you ( You Create Your Own Mining Pool ) capping at 100 satoshis per hour. At the max, that’s 2,400 satoshis daily, or about $2.04—nearly our $2.50 target. Team up with a few friends or better yet family members, sync your mining, and you’re golden. Withdraw to a wallet or reinvest into your daily Bitcoin buys through Ember. It’s a near-passive way to fuel this strategy for free.
Other options like buying directly on exchanges (Coinbase, Binance, Kraken) with recurring $2.50 purchases work too, but they dip into your pocket and come with fees. Ember’s mining trumps that by letting us earn our way in. Track your satoshis, not dollars; it’s more satisfying to see the stack grow.
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**The Big Picture: Is It Worth It?**
This depends on you. If you’re a Bitcoin skeptic, $2.50 daily might feel like tossing coins into a wishing well. If you’re a believer—say you think it’ll hit $200,000 in five years—it’s a low-effort way to build a position. Historically, Bitcoin’s climbed from pennies to $85,000 over 15 years, but past performance isn’t a promise. Zoom out: $912.50 is 0.01073465 Bitcoin today. At $200,000, that’s $2,146.93. At $1 million? $10,734.65. Small seeds, big dreams.
**Final Thought**
Buying $2.50 of Bitcoin daily isn’t a get-rich-quick scheme—it’s a slow drip into a wild market. You’re not betting the farm; you’re nibbling at the edges. Whether it’s genius or a waste depends on Bitcoin’s future, and nobody’s got a crystal ball. But for less than a Netflix subscription each month, you’re in the ring. What’s $2.50 to you?
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@ 6389be64:ef439d32
2025-02-27 21:32:12
GA, plebs. The latest episode of Bitcoin And is out, and, as always, the chicanery is running rampant. Let’s break down the biggest topics I covered, and if you want the full, unfiltered rant, make sure to listen to the episode linked below.
## House Democrats’ MEME Act: A Bad Joke?
House Democrats are proposing a bill to ban presidential meme coins, clearly aimed at Trump’s and Melania’s ill-advised token launches. While grifters launching meme coins is bad, this bill is just as ridiculous. If this legislation moves forward, expect a retaliatory strike exposing how politicians like Pelosi and Warren mysteriously amassed their fortunes. Will it pass? Doubtful. But it’s another sign of the government’s obsession with regulating everything except itself.
## Senate Banking’s First Digital Asset Hearing: The Real Target Is You
Cynthia Lummis chaired the first digital asset hearing, and—surprise!—it was all about control. The discussion centered on stablecoins, AML, and KYC regulations, with witnesses suggesting Orwellian measures like freezing stablecoin transactions unless pre-approved by authorities. What was barely mentioned? Bitcoin. They want full oversight of stablecoins, which is really about controlling financial freedom. Expect more nonsense targeting self-custody wallets under the guise of stopping “bad actors.”
## Bank of America and PayPal Want In on Stablecoins
Bank of America’s CEO openly stated they’ll launch a stablecoin as soon as regulation allows. Meanwhile, PayPal’s CEO paid for a hat using Bitcoin—not their own stablecoin, Pi USD. Why wouldn’t he use his own product? Maybe he knows stablecoins aren’t what they’re hyped up to be. Either way, the legacy financial system is gearing up to flood the market with stablecoins, not because they love crypto, but because it’s a tool to extend U.S. dollar dominance.
## MetaPlanet Buys the Dip
Japan’s MetaPlanet issued $13.4M in bonds to buy more Bitcoin, proving once again that institutions see the writing on the wall. Unlike U.S. regulators who obsess over stablecoins, some companies are actually stacking sats.
## UK Expands Crypto Seizure Powers
Across the pond, the UK government is pushing legislation to make it easier to seize and destroy crypto linked to criminal activity. While they frame it as going after the bad guys, it’s another move toward centralized control and financial surveillance.
## Bitcoin Tools & Tech: Arc, SatoChip, and Nunchuk
Some bullish Bitcoin developments: ARC v0.5 is making Bitcoin’s second layer more efficient, SatoChip now supports Taproot and Nostr, and Nunchuk launched a group wallet with chat, making multisig collaboration easier.
## The Bottom Line
The state is coming for financial privacy and control, and stablecoins are their weapon of choice. Bitcoiners need to stay focused, keep their coins in self-custody, and build out parallel systems. Expect more regulatory attacks, but don’t let them distract you—just keep stacking and transacting in ways they can’t control.
**🎧 Listen to the full episode here: [https://fountain.fm/episode/PYITCo18AJnsEkKLz2Ks](Fountain.fm)**
**💰 Support the show by boosting sats on Podcasting 2.0!** and I will see you on the other side.
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@ 2ed3596e:98b4cc78
2025-02-27 21:28:33
## Pay anyone in Canada with bitcoin! One step closer to replacing your bank with Bitcoin Well
Everyone who accepts e-Transfers, now accepts bitcoin! Canadians with a Bitcoin Well account can send money to anyone via e-Transfer using their bitcoin in self custody. Typical transactions, like rent payments, paying friends back for dinner, paying your cleaning lady or even to pay for that new (to you) boom box on Facebook marketplace, can now be paid quickly, securely and cheaper with your Bitcoin Well account. And best of all, it’s all done with bitcoin in self custody. Keep reading to learn more!
## How to send an e-Transfer to anyone in Canada using bitcoin:
From the sell page in your Bitcoin Well account you can select the network (Bitcoin or Lightning Network) and how many dollars you’d like to send via e-Transfer. For more information on the [Lightning Network click here.](https://bitcoinwell.com/blog/how-to-sell-bitcoin-on-the-lightning-network-in-canada)
Next you will see a new dropdown where you can choose the recipient for the e-Transfer. It will be the email on your Bitcoin Well account by default.
<img src="https://blossom.primal.net/47b721b22f9df5d38e2edb02dfe0c41adab90442a9e55158bb815980b596d4ec.png">
To add a new recipient, select the drop down and “Add recipient”. Here you will be asked to provide the recipient’s name, email and the security question/answer you’d like to provide for the e-Transfer.
<img src="https://blossom.primal.net/a63580e9b8a314cedf04105e168f74d7ea279a281a867479e511833003cf2b28.png">
You’ll be responsible for telling them the security question and answer, so don’t forget!
<img src="https://blossom.primal.net/8c7fb8b06aa1a2e991f5f94a005b6c1f0d6b8cb78c2966dc917b98ca3491af7c.png">
You can also invite your recipient to [join Bitcoin Well with your ref link!](https://app.bitcoinwell.com/referrals) You’ll earn Bitcoin Well points and sats when they use Bitcoin Well!
## If you chose the Bitcoin network:
With all your information entered, you will be able to send bitcoin to the bitcoin address on screen and an e-Transfer will be sent to your recipient after 1 confirmation.
Note! This bitcoin address is permanently associated with your recipient. Any and all bitcoin received by this bitcoin address will be automatically converted into dollars and sent to your recipient; even if you do not login to your Bitcoin Well account!
<img src="https://blossom.primal.net/046ee31cd2098a027254cef95a1a380f7423705b4dcced6485d64e3dfda4c386.png">
## If you chose the Lightning Network:
Select “Generate Invoice” to generate an LN-invoice which will be associated with your transaction. Once that invoice is paid an e-Transfer will be immediately sent to your desired recipient.
Of course, you can still send sats to your Bitcoin Well Payment Address any time to receive an e-Transfer yourself.
<img src="https://blossom.primal.net/afa78ce53beac2f6172119cc18601ea9f26beae6e65502e304b88fa122080fc2.png">
## Banks out; Bitcoin Standard in
Bitcoin Well arms its customers with the knowledge and tools to fully live on a Bitcoin Standard and maximize their independence by keeping bitcoin in self custody instead of dollars in their bank.
Bitcoin Well now enables the same instant and fast transfer capabilities as a bank, but facilitated with bitcoin in self custody!
Replace your bank with Bitcoin Well!
## Earn sats from your bitcoin transactions
Bitcoin Well is also the best place in the world to earn bitcoin. When you earn points in your Bitcoin Well account, you gain the opportunity to play the Bitcoin (Wishing) Well, where you win sats with every play.
The best part? We send bitcoin that you win straight to your personal wallet via the Lightning Network.
Oh yeah, did we mention you can win 1,000,000 sats? If you're an active Bitcoin Well customer, there is a chance you've earned a pile of points. The more you use your account for buying, selling or spending bitcoin - the more points you’ll earn! Log in to your Bitcoin Well account and [check your point balance](https://app.bitcoinwell.com/reward-points).
## About Bitcoin Well
Bitcoin Well exists to enable independence. We do this by coupling the convenience of modern banking, with the benefits of bitcoin. In other words, we want to make it easy to use bitcoin in self-custody.
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@ f1989a96:bcaaf2c1
2025-02-27 21:28:20
Good morning, readers!
In Nigeria, financial officials are revising digital asset regulations to impose taxes on digital asset transactions on regulated exchanges. This aims to bolster state revenue as more citizens turn to Bitcoin in response to rampant inflation, the naira’s devaluation, and the regime's ever-increasing financial controls.
Meanwhile, in Cuba, thousands of citizens remain unable to access money the regime forced them to convert into Certificates of Deposit (CDs) in 2021. These funds have not been returned by the Communist Party of Cuba. If they eventually are, they will be paid out in since-hyperinflated Cuban pesos, a reality that stands in stark contrast to regime propaganda that it is working “for the people.”
In open-source freedom tech news, we feature NostrPIX, an experimental tool built during the bitcoin++ developer hackathon in Florianopolis, Brazil. It allows anyone in Brazil to pay any merchant or individual with Bitcoin over the Lightning Network. While it is still in its early stages of development, this stands to enable Bitcoin payments at nearly every merchant in Brazil, similar to how apps like Tando enable Bitcoin payments across Kenya.\
\
We end with the official livestreams of the HRF-supported bitcoin++ developer conference in Florianopolis, Brazil, that brought together open-source developers and freedom tech enthusiasts for four days of technical gatherings to enhance Bitcoin’s privacy, usability, and censorship resistance. These livestreams offer a unique chance to view and understand the presentations and workshops at the event.
**Now, let’s jump right in!**
### [**Subscribe Here**](https://mailchi.mp/hrf.org/financial-freedom-newsletter?mc_cid=bf652c0a5a)
## **GLOBAL NEWS**
#### **Nigeria | Introducing Digital Asset Transaction Tax to Boost State Revenue**
Nigerian officials plan to [amend](https://archive.ph/fTRMl) their digital asset regulations to tax digital asset transactions in a coercive effort to boost the regime’s dwindling revenues. The Nigerian Securities and Exchange Commission (SEC) is reviewing a new framework to tax transactions on regulated exchanges, allowing the regime to extract even more value from the growing digital asset sector. Nigerians, especially the [younger population](https://www.forbes.com/sites/digital-assets/2024/01/08/central-bank-of-nigeria-approves-naira-stablecoin-for-2024-launch/), increasingly have turned to Bitcoin and stablecoins to escape high inflation, a devalued naira, and an authoritarian regime that repeatedly undermines financial autonomy and human rights. The new tax could hinder the efficiency of tools like Bitcoin by making transactions more expensive. But enforcing this tax beyond regulated platforms presents a challenge. Bitcoin held in self-custody and transacted peer-to-peer remains largely outside the reach of authoritarian states.
#### **Cuba | Citizens Remain Locked Out of Devalued Funds**
Thousands of Cubans remain [locked out](https://havanatimes.org/features/cuban-savers-lose-on-devalued-bank-deposit-certificates/) of their savings after the regime forced them to convert Cuban Convertible Peso (CUC) deposits into Certificates of Deposit (CDs) in 2021. This policy was part of the “Tarea Ordenamiento” economic reforms, which eliminated the CUC, a convertible currency previously pegged to the US dollar. For years, Cubans who received foreign currency — whether through work abroad or remittances — were required to exchange it for CUCs, expecting they could later redeem those CUCs for dollars or other foreign currencies. But when the regime eliminated the CUC in 2021, it forced depositors to either accept a heavily [devalued](https://havanatimes.org/features/cuban-savers-lose-on-devalued-bank-deposit-certificates/) exchange rate for Cuban pesos (far worse than the advertised 24-1 ratio) or convert their money into Certificates of Deposit (CDs), with the promise of returning the equivalent value in foreign currency once liquidity allowed. Unbeknownst to Cubans, the CDs paid a negligible 0.15% interest and had no clear timeline for repayment. Today, many depositors still can’t access their money.
#### **Google | Facilitating Censorship in Russia and China**
Google is actively [assisting](https://www.theguardian.com/world/2025/feb/15/google-helped-facilitate-russia-china-censorship-requests) authoritarian regimes like China and Russia to censor dissent, removing online content critical of the Kremlin and Chinese Communist Party. In Russia, Google complied with government requests to erase YouTube videos opposing the war in Ukraine, while in China, it removed references to the Tiananmen Square massacre and pro-democracy activism. With more than [70% of Russians](https://www.theguardian.com/world/2025/feb/15/google-helped-facilitate-russia-china-censorship-requests) relying on YouTube for news and China’s Great Firewall blocking independent sources, corporate compliance with state censorship enables state propaganda to proliferate as a dominant narrative. For activists and nonprofits seeking uncensorable communications, nostr — an open and decentralized protocol — offers a way to share information beyond the reach of authoritarian regimes. Activists and NGOs can get started [here](https://start.njump.me/).
#### **World | Transnational Repression Most Common Under CBDC-Leading Countries**
New data from [Freedom House](https://freedomhouse.org/expanding-and-defending-freedom-around-world) reveals that [23 governments](https://freedomhouse.org/article/new-data-mass-incidents-mark-dramatic-year-transnational-repression-23-governments-silence) engaged in transnational repression in 2024, using abductions, assassinations, and forced deportations to silence exiled dissidents. Leading perpetrators include the authoritarian regimes of China, Russia, Iran, and Turkey — orchestrating over [1,200](https://freedomhouse.org/article/new-data-mass-incidents-mark-dramatic-year-transnational-repression-23-governments-silence) incidents in the past decade. Notably, many of these regimes are at the forefront of central bank digital currency (CBDC) development, a technology that drastically increases state control over financial activity. By allowing governments to surveil, freeze, and block funds in real time, CBDCs strip activists of financial privacy and force them into greater vulnerability. As authoritarian states refine both digital and physical methods of repression, CBDCs may become a powerful weapon for crushing dissent beyond borders.
#### **Niger | Delays Democratic Elections While Citizens Financially Struggle**
Niger’s deteriorating economic conditions are set to continue as the ruling military junta has [proposed](https://archive.ph/zd4QS) delaying democratic elections until at least 2030 to contain a “security threat.” Army commander Abdourahamane Tchiani, who came to power in a 2023 coup, originally pledged a three-year transition to civilian rule. Now, that timeline appears extended to five years, allowing “the junta to restore security and regain control of territory captured by Islamist militants that have expanded their insurgency in recent months.” With inflation [eroding](https://business.inquirer.net/501713/inflation-forces-nigeriens-to-adapt-what-they-eat) Nigerien’s purchasing power and the general economic well-being of citizens [declining](https://africacenter.org/spotlight/niger-coup-reversing-hard-earned-gains/), Niger can’t afford more military rule. This could be a pretext for Tchiani to consolidate power, especially as [discussions](https://archive.ph/zd4QS) emerge about dissolving political parties and granting him the rank of general.
\________________________________________________________\_
#### **Webinar Series for Nonprofits: Become Unstoppable**
HRF will host a [free, three-day webinar](https://docs.google.com/forms/d/e/1FAIpQLSf0sjqwSFQo8HGMsWIIDRyhx34TsoonOSTfYoWSy-aaBbLeSw/viewform) from March 17-19, teaching human rights defenders and nonprofits how to use Bitcoin to counter state censorship and confiscation. Sessions run daily from 10:30 a.m. to 12:00 p.m. EDT and are beginner-friendly. The webinar will be led by Anna Chekhovich, HRF’s Bitcoin nonprofit adoption lead and financial manager at Alexei Navalny’s Anti-Corruption Foundation, and co-taught by the prominent Bitcoin educator Ben Perrin.
[Register for webinar](https://docs.google.com/forms/d/e/1FAIpQLSf0sjqwSFQo8HGMsWIIDRyhx34TsoonOSTfYoWSy-aaBbLeSw/viewform)
#### **SXSW | The Human Rights Risks of Central Bank Digital Currencies (CBDCs)**
Join HRF at [SXSW 2025](https://www.sxsw.com/) in Austin from March 7-13 to explore how CBDCs threaten financial freedom. Experts [Roger Huang](https://x.com/Rogerh1991), [Charlene Fadirepo](https://x.com/CharFadirepo), and [Nick Anthony](https://x.com/EconWithNick) will discuss how authoritarian regimes use CBDCs for surveillance and control. Attendees can also visit HRF’s [CBDC Tracker](https://cbdctracker.hrf.org/) booth to explore an interactive map of CBDC developments worldwide.
[Get your tickets](https://www.sxsw.com/conference/)
\________________________________________________________\_
## BITCOIN AND FREEDOM TECH NEWS
#### **NostrPIX | Enabling Bitcoin Payments in Brazil**
[NostrPIX](https://github.com/gringokiwi/nostrpix-api) is a new tool built just a few days ago during the bitcoin++ hackathon in Florianopolis, Brazil, that lets users pay any merchant or individual in Brazil with Bitcoin over the Lightning Network. To use NostrPIX, users scan a Pix QR code (the country’s widely used digital payment system) and pay with bitcoin from their Lightning wallet. Designed with the unbanked in mind, NostrPIX lets those who cannot open a Brazilian bank account to transact with Bitcoin and Pix (no sign-ups required, just instant payments). Its innovative approach [won](https://x.com/gringokiwi/status/1893375343118967063?s=19) the bitcoin++ hackathon, showcasing its potential to bridge Bitcoin with traditional systems. While still a proof of concept, NostrPIX joins projects like [Tando](https://tando.me/) in Kenya, making Bitcoin more practical for everyday commerce and could inspire similar products elsewhere in countries facing political oppression.
#### **Iris | Implements Double Ratchet Messaging for Better Privacy**
[Iris](https://iris.cx/), a client for Nostr launched by Martti Malmi, implemented [double ratchet](https://signal.org/docs/specifications/doubleratchet/) messaging, an encryption algorithm similar to that used by Signal, significantly improving private communications for activists and human rights defenders. This ensures message metadata remains hidden, and with its implementation, past and future conversations on Iris stay private even if a user’s main Nostr private key is compromised. This upgrade empowers individuals in difficult political environments to communicate without fear of surveillance by reducing the risks of authoritarian regimes tracking their conversations. HRF is proud to have helped support Malmi as he invented and launched this innovation.
#### **Presidio Bitcoin | New Bitcoin Co-Working and Events Space in Bay Area**
[Presidio Bitcoin](https://www.presidiobitcoin.org/) is the Bay Area’s first dedicated co-working and events space. Located in San Francisco’s famous Presidio neighborhood, it will be a collaborative space for developers, educators, and freedom tech enthusiasts to connect, work, and innovate together to drive Bitcoin adoption forward. It draws inspiration from other Bitcoin hubs worldwide, like [Bitcoin Park](https://bitcoinpark.com/) in Nashville, Tenn., [Bitcoin House Bali](https://bitcoinindonesia.xyz/) in Indonesia, and [Bitcoin Ekasi](https://x.com/BitcoinEkasi) in South Africa. This time, aiming to create a community of Bitcoiners in the tech capital of the US. Presidio Bitcoin hopes to foster new talent and secure greater funding from Silicon Valley, becoming a central meeting point for those passionate about Bitcoin and freedom. HRF Freedom Fellows were able to visit the space recently, and HRF staff will be speaking at upcoming events at the venue in the near future. Check the space out [here](https://www.presidiobitcoin.org/).
#### **Cashu | Releases Cashu Development Kit**
[Cashu](https://cashu.me/), an open-source Chaumian ecash protocol for Bitcoin integrated with the Lightning Network, [released](https://x.com/CashuBTC/status/1889321095125258313?s=19) the [Cashu Development Kit](https://github.com/cashubtc/cdk) (CDK) in Rust (a common programming language). This makes it easier for developers to build and integrate Cashu wallets, expanding access to private Bitcoin transactions. With Cashu, users can spend Bitcoin-backed ecash without revealing their identity or transaction history. This enables private, cheap, and fast transactions with the tradeoff of being custodial. As digital financial surveillance increases, ecash offers an alternative to remain private. The CDK release expands the reach of said private Bitcoin transactions, providing more safety and anonymity for dissidents.
#### **RoboSats | Adds LNp2pBot Orders on Android App**
[RoboSats](https://github.com/RoboSats/robosats), a privacy-focused peer-to-peer (P2P) Bitcoin exchange powered by the Lightning Network, [added](https://github.com/RoboSats/robosats/releases/tag/v0.7.4-alpha) support for [LNp2pBot](https://lnp2pbot.com/) orders in its Android app. Previously, users used Telegram to interact with LNp2pBot for P2P bitcoin trades. Now, they can access P2P orders directly from the RoboSats Android app. This integration enhances usability by reducing platform dependency and provides users with greater liquidity for P2P trades. HRF is pleased to see the continued development and interoperability of privacy-focused, self-custodial Bitcoin on and off ramps from this [Bitcoin Development Fund](https://hrf.org/program/financial-freedom/bitcoin-development-fund/) grantee.
#### **Bitcoin Dada | Visits Bitcoin Mining Site for Hands-On Learning**
Bitcoin Dada, an HRF-supported nonprofit empowering African women with financial literacy and Bitcoin education, recently took its students on a [trip](https://x.com/btc_dada/status/1891495542078726163) to a Bitcoin mining site operated by [Gridless](https://gridlesscompute.com/) in Kibwezi, Kenya. This visit provided students firsthand exposure to Bitcoin mining’s potential for driving economic growth and expanding electricity access in rural African communities while simultaneously helping decentralize the network. The site repurposes sisal waste (the waste from fiber production) to generate electricity, reduce blackouts, and provide power to homes in Kibwezi. As more and more off-grid sites like this come online, Bitcoin’s mining composition becomes less centralized and stronger against threats from authoritarian states.
## RECOMMENDED CONTENT
#### **bitcoin++ Developer Conference Livestream**
Last week, [bitcoin++](https://btcplusplus.dev/) hosted the “hacking edition” developer conference in Florianopolis, Brazil. The event brought together Bitcoin developers and freedom tech enthusiasts for four days of hands-on development, workshops, and technical discussions to enhance Bitcoin’s privacy, accessibility, and censorship resistance. If you missed the event, you can catch the key sessions and workshops via live stream. Watch them [here](https://www.youtube.com/@btcplusplus/streams).
#### **Nostr: The Importance of Censorship-Resistant Communication for Innovation and Human Progress**
In [this](https://bitcoinmagazine.com/culture/nostr-the-importance-of-censorship-resistant-communication-for-innovation-and-human-progress-) article for [Bitcoin Magazine](http://bitcoinmagazine.com), [Leon Wankum](https://x.com/leonwankum) highlights why Nostr, a censorship-resistant protocol, is key to unlocking innovation and free expression. He explains how Nostr enables decentralized content sharing using cryptographic keys and relays, preventing central control of the protocol. This approach ensures that no single entity controls the flow of information, thereby enhancing freedom of expression. Alongside Bitcoin, Nostr has the potential to break corporate and state monopolies, allowing for grassroots progress and innovation on the individual level. You can read the full article [here](https://bitcoinmagazine.com/culture/nostr-the-importance-of-censorship-resistant-communication-for-innovation-and-human-progress-).
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