@ 57d1a264:69f1fee1

Beginning with the history of kubectl apply, this article briefly introduces the concept of "thick/thin clients" in software design.

Designing software is a process of constantly raising and solving questions. When designers face a requirement, they generate many questions, among which is a seemingly simple but fundamental one: "Where should the business logic (complexity) go?" Each time a new feature is introduced into a project, the increase in total complexity is almost certain, but how to distribute this complexity among modules can vary greatly.

Whether a client is thick or thin depends on the responsibilities it undertakes; neither is inherently superior, only more suitable for different scenarios. Should you choose a thick or thin client? In most cases, the answer is clear because many functions naturally suit a particular implementation. For example, global search is typically a "thin client, thick server" solution because it relies on all the data in the server's database.

Continue reading at https://www.piglei.com/articles/en_the_software_design_i_see_thick_thin_clients/

https://stacker.news/items/1001277

@ 8bad92c3:ca714aa5

The real estate market is showing cracks while Bitcoin continues its march toward becoming the global monetary standard. This week's conversation with Leon Wankum reveals how traditional assets are losing ground to the hardest money on earth. This was a high signal rip that deserves all the spotlight in today's newsletter.

Real Estate Prices Will Fall Through 2026 Before Finding New Equilibrium

Leon predicts we're entering a corrective phase in the 18-year property cycle that will see real estate prices decline until 2026. He bases this on the current mismatch between sellers who still expect peak 2021-2022 prices and buyers facing higher interest rates. "We need a price equilibrium. We need demand and supply prices to match. It's going to take a long time," Leon explained. He doesn't expect the Fed to lower rates significantly, keeping them above 3% for the foreseeable future, which will continue putting downward pressure on property values.

The key insight is that we're at year 15 of the typical 18-year property cycle, where prices naturally correct before finding a new floor. Leon suggests that by 2026, if interest rates are lowered, prices will stabilize at levels higher than the cycle's starting point but lower than current peaks. For those looking to buy, patience through this correction period could pay off.

Bitcoin Will Experience a 60% Drawdown This Cycle Despite Institutional Adoption

Despite massive institutional adoption through MicroStrategy and other corporate treasuries, Leon maintains that Bitcoin will still see a significant correction this cycle. "I do expect we'll have a 60% drawdown at the end of this bull cycle as well, just to wash out some leverage," he stated, pushing back against super cycle narratives. He points to the changing nature of volatility, noting that we're already seeing mini bull and bear markets in Bitcoin-adjacent assets like mining stocks, which peaked and corrected independently of Bitcoin's price action.

While acknowledging that players like Michael Saylor won't sell their holdings and that this could dampen volatility compared to previous cycles, Leon believes human nature and leverage will still create the conditions for a major correction. The silver lining is that these corrections build resilience in the Bitcoin ecosystem by washing out bad actors and overleveraged positions, ultimately strengthening the network for the next phase of growth.

1% of Real Estate and Bond Markets Will Flow to Bitcoin-Based Fixed Income Products

Leon sees MicroStrategy's new fixed income products (Strike, Strive, and Stride) as a gateway for traditional investors to gain Bitcoin exposure. These products offer 8-10% yields, significantly outperforming traditional bonds, while providing the cash flow that real estate investors seek. "If it's just 1% [of real estate investors], that's 3 trillion, that's enough," Leon calculated, noting that even a small percentage of the 2,856,707,549 BTC real estate market moving to Bitcoin-backed products would exceed Bitcoin's current market cap.

He shared examples of real estate professionals in Europe beginning to build Bitcoin treasuries, though cautiously. The key insight is that these fixed income products solve a major friction point for traditional investors who want cash flow but are beginning to recognize Bitcoin's superior appreciation. As more investors realize they can get both yield and potential upside through Bitcoin-backed securities, Leon expects this trickle to become a flood, fundamentally reshaping how capital allocators think about portfolio construction.

---

Blockspace conducts cutting-edge proprietary research for investors.

Bitcoin Could See 4,066,047 BTC Institutional Wave by 2026, Breaking Traditional Market Cycles

UTXO Management forecasts unprecedented institutional demand totaling 4,066,047 BTC by end-2026—equivalent to 20% of Bitcoin's circulating supply. This "wall of money" could fundamentally alter Bitcoin's four-year cycle pattern. Bitcoin ETFs shattered records with 344,709 BTC in year-one inflows, surpassing all commodity ETF launches. Following gold's trajectory, annual flows could reach 618,953 BTC by 2026 and exceed 952,236 BTC in 2027.

Five key drivers will fuel demand:

• Wealth platforms: 0.5% allocation across 571,341,510 BTC managed assets = 1,142,683 BTC
• Corporate treasuries: 1.18M BTC projected under new FASB accounting rules
• Nation-states: U.S. Strategic Reserve could trigger 5% gold-to-BTC rotation
• State governments: 5 of 13 pending U.S. state Bitcoin bills expected to pass
• ETF expansion: Wirehouse access accelerating adoption

Public companies already hold 803,143 BTC, with Japan's Metaplanet, GameStop, and Hong Kong's Moon adopting the "Bitcoin Standard" strategy. Meanwhile, Bitcoin yield products (BTCfi) are emerging—liquid staking surged to 55k BTC locked in one year. Unlike retail cycles, these institutional buyers are "structurally locked in," pursuing BTC-denominated yields rather than trading. With regulation accelerating globally, most allocators may be forced to chase exposure at significantly higher prices.

Link to Full Article

Subscribe to them here (seriously, you should): https://newsletter.blockspacemedia.com/

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

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@ 9ca447d2:fbf5a36d

CANNES, FRANCE – May 2025 — Bitcoin mining made its mark at the world’s most prestigious film gathering this year as Puerto Rican director and producer Alana Mediavilla introduced her feature documentary Dirty Coin: The Bitcoin Mining Documentary at the Marché du Film during the Cannes Film Festival.

The film puts bitcoin mining at the center of a rising global conversation about energy, technology, and economic freedom.

Dirty Coin is the first feature-length documentary to explore bitcoin mining through immersive, on-the-ground case studies.

From rural towns in the United States to hydro-powered sites in Latin America and the Congo, the film follows miners and communities navigating what may be one of the most misunderstood technologies of our time.

The result is a human-centered look at how bitcoin mining is transforming local economies and energy infrastructure in real ways.

To mark its Cannes debut, Mediavilla and her team hosted a packed industry event that brought together leaders from both film and finance.

Dirty Coin debut ceremony at the Marché du Film

Sponsors Celestial Management, Sangha Renewables, Nordblock, and Paystand.org supported the program, which featured panels on mining, energy use, and decentralized infrastructure.

Attendees had the rare opportunity to engage directly with pioneers in the space. A special session in French led by Seb Gouspillou spotlighted mining efforts in the Congo’s Virunga region.

Dirty Coin builds on Mediavilla’s award-winning short film Stranded, which won over 20 international prizes, including Best Short Documentary at Cannes in 2024.

That success helped lay the foundation for the feature and positioned Mediavilla as one of the boldest new voices in global documentary filmmaking.

Alana Mediavilla speaks at the Marché du Film — Cannes Film Festival

“If we’ve found an industry that can unlock stranded energy and turn it into real power for people—especially in regions with energy poverty—why wouldn’t we look into it?” says Mediavilla. “Our privilege blinds us.

“The same thing we criticize could be the very thing that lifts the developing world to our standard of living. Ignoring that potential is a failure of imagination.”

Much like the decentralized network it explores, Dirty Coin is spreading globally through grassroots momentum.

Local leaders are hosting independent screenings around the world, from Roatán and Berlin to São Paulo and Madrid. Upcoming events include Toronto and Zurich, with more cities joining each month.

Mediavilla, who previously worked in creative leadership roles in the U.S. — including as a producer at Google — returned to Puerto Rico to found Campo Libre, a studio focused on high-caliber, globally relevant storytelling from the Caribbean.

She was also accepted into the Cannes Producers Network, a selective program open only to producers with box office releases in the past four years.

Mediavilla qualified after independently releasing Dirty Coin in theaters across Puerto Rico. Her participation in the network gave her direct access to meetings, insights, and connections with the most active distributors and producers working today.

The film’s next public screening will take place at the Anthem Film Festival in Palm Springs on Saturday, June 14 at 2 PM. Additional screenings and market appearances are planned throughout the year at Bitcoin events and international film platforms.

Dirty Coin at the Cannes Film Festival

Watch the Trailer + Access Press Materials

📂 EPK
🎬 Screener
🌍 Host a Screening

Follow the Movement

Instagram: https://www.instagram.com/dirty_coin_official/
Twitter: https://x.com/DirtyCoinDoc
Website: www.dirtycointhemovie.com

@ cae03c48:2a7d6671

Bitcoin Magazine

Bitcoin Life Insurer, Meanwhile, Becomes First Company to Publish Audited Financials Denominated in Bitcoin

Meanwhile Insurance Bitcoin (Bermuda) Limited (“Meanwhile”) announced it has become the first company in the world to release externally audited financial statements denominated entirely in Bitcoin. According to the announcement, the company reported 220.4 BTC in assets and 25.29 BTC in net income for 2024, a 300% year over year increase.

Today marks a global first & historic event for us, along with the public release of our 2024 audited financial statements, covering our 1st year of sales.

As the 1st company in the world to have Bitcoin-denominated financial statements externally audited, we are excited to…

— meanwhile | Bitcoin Life Insurance (@meanwhilelife) June 5, 2025

“We’ve just made history as the first company in the world to have Bitcoin-denominated financial statements externally audited,” said Zac Townsend, CEO of Meanwhile. “This is an important, foundational step in reimagining the financial system based on a single, global, decentralized standard outside the control of any one government.” 

The financial statements were audited by Harris & Trotter LLP and its digital asset division ht.digital. Meanwhile’s financials also comply with Bermuda’s Insurance Act 1978, noting that their BTC denominated financials were approved and comply with official guidelines. The firm, fully licensed by the Bermuda Monetary Authority (BMA), operates entirely in BTC and is prohibited from liquidating Bitcoin assets except through policyholder claims, positioning it as a long term holder. 

“As the first regulated Bitcoin life insurance company, we view the BTC held by Meanwhile as inherently long-term in nature—primarily held to support the Company’s insurance liabilities over decades,” Townsend added. “This makes it significantly ‘stickier’ and resistant to market pressures compared to the BTC held by other companies as part of their treasury management strategies.” 

Meanwhile’s 2024 financials also revealed 23.02 BTC in net premiums and 4.35 BTC in investment income, showing that its model not only preserves Bitcoin, but earns it. The company’s reserves (also held in BTC) were reviewed and approved by Willis Towers Watson (WTW). 

Meanwhile also offers a Bitcoin Whole Life insurance product that allows policyholders to save, borrow, and build legacy wealth—entirely in BTC, and has plans to expand globally in 2025.

“We are incredibly proud of today’s news as it underscores how Meanwhile is at the forefront of the next phase of the convergence between Bitcoin and institutional financial markets,” said Tia Beckmann, CFO of Meanwhile. “Now having generated net income in BTC, we have demonstrated that we are earning it through a sustainable insurance business model designed for the long term.” 

This post Bitcoin Life Insurer, Meanwhile, Becomes First Company to Publish Audited Financials Denominated in Bitcoin first appeared on Bitcoin Magazine and is written by Jenna Montgomery.

@ b1ddb4d7:471244e7

This article was originally published on dev.to by satshacker.

Alright, you’ve built a useful and beautiful website, tool or app. However, monetization isn’t a priority and you’d rather keep the project free, ads-free and accessible?

Accepting donations would be an option, but how? A PayPal button? Stripe? Buymeacoffe? Patreon?

All of these services require a bank account and KYC verification, before you can send and receive donations – not very convenient.

If we only could send value over the internet, with just one click and without the need of a bank account…

Oh, hold on, that’s bitcoin. The decentralized protocol to send value across the globe. Money over TCP/IP.

In this article, we’ll learn how anyone can easily add a payment button or donation widget on a website or app.

Let’s get into it.

Introduction

Bitcoin is digital money that you can send and receive without the need for banks. While bitcoin is extremely secure, it’s not very fast. The maximum transactions per second (TPS) the network can handle is about 7. Obviously that’s not useful for daily payments or microtransactions.

If you’d like to dig deeper into how bitcoin works, a great read is “Mastering Bitcoin” by Andreas Antonopoulos.

Bitcoin vs Lightning

If you’d like to receive bitcoin donations “on-chain” all you need is a bitcoin wallet. You simply display your bitcoin address on your site and that’s it. You can receive donations.

It would look something like this; 1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa

Instead of showing the actual bitcoin address, you can also turn it into a QR code.

However, this is not a recommended solution. Using static on-chain addresses has two major downsides. It lowers privacy for you and your donnors and it’s a UTXO disaster because many small incoming transactions could beocme hard to consolidate in the future.

For donations and small transactions, the Lightning Network is the better option. Lightning allows for instant settlement with fees only a fraction of a cent.

Similar to bitcoin, you have the choice between non-custodial and custodial wallets. This means, either you have full control over your money or the wallet provider has.

Option 1: Lightning Address

With the lightning address feature, you an easily receive donations to an email like address.

It looks like this: yourname@wallet.com

Many wallets support lightning addresses and make it easy to create one. Then, you simple add the address to your donation page and you’re ready to receive tips.

You can also add a link link as in lightning:yourname@wallet.com and compatible lightning wallets and browser wallets will detect the address.

How to get a Lightning Address Fast

Option 2: Lightning Donation Widgets

If you like to take it a step further, you can also create a more enhanced donation checkout flow. Of course you could programm something yourself, there are many open source libraries you can build upon. If you want a simple plug-and-play solution, here are a couple of options:

Name

Type

Registration

SatSale

Self-hosted

No KYC

BTCPay Server

Self-hosted

No KYC

Pay With Flash

Widget

Email

Geyser Fund

Widget

Email

The Giving Block

Hosted

KYC

OpenNode

Hosted

KYC

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SatSale (GitHub)

Lightweight, self-hosted Bitcoin/Lightning payment processor. No KYC.

Ideal for developers comfortable with server management. Simple to deploy, supports both on-chain and Lightning, and integrates with WooCommerce.

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BTCPay Server

Powerful, open-source, self-hosted processor for Bitcoin and Lightning. No KYC.

Supports multiple currencies, advanced features, and full privacy. Requires technical setup and maintenance. Funds go directly to your wallet; great for those seeking full control.

---

Pay With Flash

Easiest for indie hackers. Add a donation widget with minimal code and no KYC. Payments go directly to your wallet for a 1.5% fee.

Setup Steps:

1. Sign up at PayWithFlash.com
2. Customize your widget in the dashboard
3. Embed the code:

1. Test to confirm functionality

Benefits:

• Minimal technical skills required
• Supports one-time or recurring donations
• Direct fund transfer, no intermediaries

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Geyser Fund

Crowdfunding platform. Widget-based, connects to your wallet, email registration.Focused on Bitcoin crowdfunding, memberships and donations.

---

The Giving Block

Hosted, KYC required. Integrates with fiat and crypto, best for nonprofits or larger organizations.

---

OpenNode

Hosted, KYC required. Accept Bitcoin payments and donations; supports conversion to fiat, suitable for businesses and nonprofits.

---

Summary

• Fast, low-code setup: Use Pay With Flash or Geyser Fund.
• Privacy and control: Choose SatSale or BTCPay Server (requires technical skills).
• Managed, compliant solutions: The Giving Block or OpenNode.

Choose based on your technical comfort, privacy needs, and project scale.

I hope this article helped you. If you added bitcoin donations, share your link in the comments and I will send you a few satoshis maybe

@ 2769f6ba:8dac44e4

You may want to believe that the world works like a video game, where you can press the pause button, come back three months later and everything will be waiting for you exactly as you left it. But real life doesn’t work like that. The difference is that in the video game you are in control, whereas in real life you are not. Maybe you want to believe that the worst is over, but this is just getting started. Supply chains are breaking down and the economy is starting to collapse. To make it clear, “the economy” is not something abstract; it’s real people losing their jobs, their businesses, their incomes and their homes. Your authoritarian fantasies will just make it worse for you and others until you cannot handle it anymore and you accept reality and surrender to it. I get that you are afraid, and that’s OK. But to hold your fellow human beings hostage because you are afraid is not OK. It’s getting to the point where if you still support lockdowns, mandatory vaccines, mandatory tracking, mandatory testing or mandatory anything you have blood on your hands. History will not judge you kindly.

Then there are those of you who want to believe that the bailouts and the “universal basic income” will make the problems disappear. For example, I read Charles Eisenstein in his otherwise excellent piece The Coronation come up with all this UBI nonsense. You probably realize that if you grab a piece of paper and write “$1,000,000” on it with a marker pen of your favorite color, you don’t become magically rich. But you still want to believe that if the government does exactly the same thing, your problems will go away. On the one hand, even if you are not fully aware of it, you realize that the government and its satellite corporations are abusing you and sucking your blood more and more every day. Yet on the other hand, you keep begging your very abusers that are trying to deprive you from earning an honest living for yourself to give you a measly monthly UBI check in the hopes that it will magically make you feel good and solve your problems.

Aside from the fact that printing money cannot solve the issue the governments themselves have created in the first place with their mandatory lockdowns: maybe you expect that you can control your masters, or that they will benevolently give you the UBI check with no strings attached. Of course not: receiving the check will likely be tied to being a “good law-abiding citizen” (a.k.a. obedient slave); something like the social credit system they have in China. You will end up completely disempowered and depending on the government to even feed yourself and have shelter. I find it quite infuriating and sad that any “spiritual teacher” would want that for you and that you fall for it.

Consider this:

The issue is not the coronavirus itself. The virus is just revealing the cracks in the system.

You are not a victim. You always have the power. Not the power to start a “revolution”, mind you, which just consists in replacing the old abusers with new ones. As Buckminster Fuller said: “You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.”

You have the power to walk away from this dying system of nation-state governments and fiat “money” and into the nascent paradigm of cryptocurrencies and decentralized governance. But first you have to question and confront the beliefs you have accepted as “reality”. It’s hard, I know, but unavoidable. So, the sooner you begin, the better for yourself and for humanity. Do you want to be free or do you just want to have a “fair” master?

@ 2769f6ba:8dac44e4

I am feeling that the issue runs deeper. Science has been hijacked by the state, so I find the post-truth thing as a meme that rejects the corruption of science. Unfortunately, those hippies are throwing the baby with the bathwater in the process. But I see legitimate issues that need to be acknowledged if we want to reach out to those post-truth hippies.

For example, in my opinion:

The issue is not with 5G, but with this:

1. Not wanting to be “bathed” 24/7 in waves of higher frequency (3 to 30 GHz). I understand the fear and skepticism on this.
2. The push towards so-called “smart cities”, which are more like surveillance-cities. Granted, those technologies will bring benefits, but I see an issue with a top-down planned system controlled by the state and its contractors rather than a more organic system, with participation from many actors and little central planning. Of course, politicians and “experts” are always trying to link together smart-cities with 5G as if they must go together.
3. The state is appropriating the radio spectrum and renting most of it to its cronies from the telecom companies, while it only leaves tiny scraps for open use by the population.

The issue is not with vaccines, but with this:

1. pushing forced vaccination under the guise of “science”.
2. an ever-growing list of both mandatory and “recommended” vaccines, some of them for diseases that are just an inconvenience and definitely not life-threatening.

I feel it must be acknowledged that the state has hijacked science, in the same way that the church has always hijacked spirituality. So, just telling those hippies that they have to trust science because facts and because the “experts” say so, won’t cut it anymore. A different approach is needed.

@ 9ca447d2:fbf5a36d

Paris, France – June 6, 2025 — Bitcoin payment gateway startup Flash, just announced a new partnership with the “Bitcoin Only Brewery”, marking the first-ever beverage company to leverage Lightning payments.

Flash enables Bitcoin Only Brewery to offer its “BOB” beer with, no-KYC (Know Your Customer) delivery across Europe, priced at 19,500 sats (~$18) for the 4-pack, shipping included.

The cans feature colorful Bitcoin artwork while the contents promise a hazy pale ale: “Each 33cl can contains a smooth, creamy mouthfeel, hazy appearance and refreshing Pale Ale at 5% ABV,” reads the product description.

Pierre Corbin, Co-Founder of Flash, commented:

“Currently, bitcoin is used more as a store of value but usage for payments is picking up. Thanks to new innovation on Lightning, bitcoin is ready to go mainstream for e-commerce sales.”

Flash, launched its 2.0 version in March 2025 with the goal to provide the easiest bitcoin payment gateway for businesses worldwide. The platform is non-custodial and can enable both digital and physical shops to accept bitcoin by connecting their own wallets to Flash.

By leveraging the scalability of the Lightning Network, Flash ensures instant, low-cost transactions, addressing on-chain Bitcoin bottlenecks like high fees and long wait times.

For businesses interested in adopting Bitcoin payments, Flash offers a straightforward onboarding process, low fees, and robust support for both digital and physical goods. To learn more, visit paywithflash.com.

Media Contact:
Pierre Corbin
Co-Founder, Flash
Email: press@paywithflash.com
Website: paywithflash.com

About Flash

Flash is the easiest Bitcoin payment gateway for businesses to accept payments. Supporting both digital and physical enterprises, Flash leverages the Lightning Network to enable fast, low-cost Bitcoin transactions. Launched in its 2.0 version in March 2025, Flash is at the forefront of driving Bitcoin adoption in e-commerce.

About Bitcoin Only Brewery

Bitcoin Only Brewery (@Drink_B0B) is a pioneering beverage company dedicated to the Bitcoin ethos, offering high-quality beers payable exclusively in Bitcoin. With a commitment to personal privacy, the brewery delivers across Europe with no-KYC requirements.

@ cae03c48:2a7d6671

Bitcoin Magazine

Bitcoin Layer 2: Ark

Ark is a novel off-chain transaction batching mechanism originally proposed by Burak, a young Turkish developer. There are currently two implementations being built, one by Ark Labs, and the other by Second, neither of which Burak is involved with. 

The original proposal for Ark was much more complicated, and involved some design goals more focused around privacy than the implementations currently being built. It was also originally envisioned to require CHECKTEMPLATEVERIFY (CTV) in order to be built. 

The protocol depends on a central coordinating server in order to function properly, but despite that is able to provide the same functionality and security guarantees that the Lightning Network does. As long as a user stays online during the required time period, at all times (unless they choose to trust the operator for short periods of time) every user is capable at any time of unilaterally exiting the Ark system at any time and taking back full unilateral control of their funds onchain. 

Unlike Lightning, Ark does not require users to have pre-allocated liquidity assigned to them in order to receive funds. An Ark user can simply onboard to a wallet and receive funds immediately with no liquidity pre-allocation at all. 

Let’s walk through the different constituent pieces of Ark.

The Ark Tree

Coins held on Ark are called Virtual UTXOs (vUTXOs). These are simply pre-signed transactions that guarantee the creation of a real UTXO under the unilateral control of a user once submitted onchain, but are otherwise held offchain. 

Every user’s vUTXOs are nested inside a tree of pre-signed transactions, or a “batch.” Ark works by having the coordinator server, or Ark Service Provider (ASP), facilitate the coordination between users necessary to create a batch. Whenever users are receiving funds, onboarding to Ark, or offboarding, it is necessary to construct a transaction and the associated transaction tree to create a new batch. 

The tree is constructed to take the single root UTXO confirmed onchain, locked with an n-of-n multisig including all users holding vUTXOs in the tree as well as the ASP, and slowly split into more and more UTXOs until eventually reaching the leaves, which are each users vUTXO. Each vUTXO is guaranteed using a script that has to be signed by a 2-of-2 multisig, one key held by the user, and the other by the ASP, or just the user after a timelock. 

Each time the tree splits, vUTXOs are created onchain, but so are more internal UTXOs that have yet to actually split into vUTXOs. Each of these internal UTXOs is locked with an n-of-n multisig composed of the ASP, and all users who have a vUTXO further down the tree. During the batch creation process, users start at their respective vUTXOs, and go through a signing process all the way back down the root of the tree. This guarantees that the root will never be signed before each user’s claim to a vUTXO is, ensuring they always have unilateral access in a worst case scenario to their funds. 

Each batch also has an expiry time (which will make sense in the next section). This expiry spend path, which exists as an alternate spending condition for the root UTXO onchain as well as every internal UTXO, allows the ASP to unilaterally spend all funds by itself. 

Transactions, Preconfirmation, and Connector Inputs

When it comes to transacting on Ark, there are two possible mechanisms that are possible, both with their own costs and implications in terms of security model. There are out-of-round transfers, or preconfirmed transactions, and there are in-round transfers, or actually confirmed transactions. 

To conduct an out-of-round transfer is a very simple process. If one user (Alice) wants to pay another (Bob), they simply contact the ASP and have them co-sign a transaction spending the vUTXO to Bob. Bob is then given that pre-signed transaction, as well as all the other ones preceding it back to the batch root onchain. Bob is now capable of unilaterally exiting the Ark with this transaction, but, he must trust the ASP not to collude with Alice to doublespend it. These out-of-round transactions can even be chained multiple times before finally confirming them. 

To finalize an Ark transaction, users have to engage in a “batch swap.” Users cannot actually trustlessly confirm a transfer within a single batch, they have to atomically swap a vUTXO in an existing batch with a fresh vUTXO created in a new batch. This is done using the ASP as a facilitator of the swap, and with the aid of what is called a “connector input.”

When a user goes to finalize an Ark transaction with a batch swap, they relinquish control of the vUTXO to the ASP. This could be problematic, what is to stop the ASP from simply keeping it and not giving them a confirmed vUTXO in a new batch? The connector input. 

When a new batch is created, a second output is created in the transaction that is confirmed on chain instantiating a new tree composed of connector UTXOs. When Bob goes to sign over a forfeit transaction to the ASP to conduct the batch swap, the transaction includes as an input one of the connector UTXOs from the new batch. 

This creates an atomic guarantee. Bob’s confirmed vUTXO is included in a batch in the same transaction the connector input is created in that is necessary for his forfeit transaction to be valid. If that batch is never created onchain, i.e. Bob never actually receives the new confirmed vUTXO, then the forfeit transaction he signed for the ASP will never be valid and confirmable onchain.

Liquidity Dynamics and Blockspace

All of the liquidity necessary to create new batches in order to facilitate transfers between users is provided by the ASP. They are required to have enough liquidity to create new batches for users until old ones have expired and the ASP can unilaterally sweep them to reclaim old liquidity previously locked up to create vUTXOs for users. 

This is the core of the liquidity dynamic at the center of the Ark protocol. While in one sense this is a massive efficiency win, not requiring liquidity providers to assess users and essentially guess which ones will actually receive large volumes of payments before they can receive any funds, in another it is an efficiency loss as the ASP must have enough liquidity to continue creating new batches for users for however long they configure the expiry time to be and they can start reclaiming allocated liquidity. 

This can be mitigated to a decent degree by how often an ASP offers to create new batches to finalize pending transactions. In the event of an ASP attempting to create new batches in real time as transactions are coming in, the liquidity requirements would be exorbitantly high. However, an ASP can lower the frequency at which they create new batches and drastically lower their liquidity requirements. 

This dynamic also has implications for blockspace use. Unlike Lightning, which can provide strong confirmation guarantees entirely offchain, in order for an Ark transaction to have an equivalent trustless degree of finality a new batch has to be created onchain. This means that unlike Lightning, where transaction volume does not reflect itself onchain, the velocity of Ark transactions inherently requires a proportional amount of blockspace use, albeit in a very compressed and efficient manner. This creates a theoretical upper limit of how many Ark batches can be created during any given time interval (although Ark trees can be smaller or larger depending on this dynamic). 

Wrapping Up

Ark presents in many ways an almost opposite set of tradeoffs to the Lightning Network. It is a massive blockspace efficiency improvement for offchain transactions, and does away with the problem of liquidity allocation on the Lightning Network, but it does have a much closer tied throughput limit that is correlated with the blockchains throughput limit. 

This dynamic of almost opposite tradeoffs makes it a very complementary system to the Lightning Network. It can also interoperate with it, i.e. vUTXOs can be swapped atomically in transactions entering or exiting the Lightning Network. 

Ultimately how it fits into the broader Bitcoin ecosystem is yet to be seen, but it is an undoubtedly valuable protocol stack that will find some functional niche, even if it is different than originally intended.

This post Bitcoin Layer 2: Ark first appeared on Bitcoin Magazine and is written by Shinobi.

@ 2769f6ba:8dac44e4

To be blunt, people want “authority” to exist because they themselves are immature cowards. They want an all-powerful entity to impose their will upon others. This takes different forms in different varieties of political advocacy, but the basic motivation is always the same. The “liberal” for example, resents reality. He does not want a world in which suffering and injustice are possible. But instead of doing what He can as a human being, he wants a “Government” to do it for him. He wants some magical entity to make sure that everyone, himself included, is fed, housed, and taken care of, no matter how lazy or irresponsible they are. Instead of trusting human beings to take care of each other, he wants a super human ”authority” to guarantee housing, food, health care, and all sorts of other things, for everyone. He wants it so badly that he refuses to accept the obvious truth that no such guarantee is ever possible, and that if mere mortals do not take care of themselves and each other, nothing else will take care of them.

“The Most Dangerous Superstition” – Larken Rose, pg. 124

@ a296b972:e5a7a2e8

Nur für‘s Protokoll. Hiermit erkläre ich, Georg Ohrweh, im tatsächlich vorhandenen vollen Besitz meiner geistigen Kräfte, dass Herr Lauterbach, gleich welche Position er in Zukunft noch bekleiden sollte, für mich nicht zuständig ist. Basta.

Ein Erguss dieses verhaltensoriginellen Über-alles-Bescheidwissers:

„Wir kommen jetzt in eine Phase hinein, wo der Ausnahmezustand die Normalität sein wird. Wir werden ab jetzt immer im Ausnahmezustand sein. Der Klimawandel wird zwangsläufig mehr Pandemien bringen.“

Wie kann es sein, dass solch eine Ausnahme-Gestalt, die schon rein äußerlich die Phantasie zu Vergleichen anregt, sich leider auch genauso verhält, wie die Gestalten, die in diesen Phantasien vorkommen, ungebremst auf der Panik-Klaviatur kakophonische Klänge erzeugen darf? Obwohl ein wenig Wahrheit ist auch enthalten: Wir sind tatsächlich immer im Ausnahmezustand, im Ausnahmezustand des fortgeschrittenen Wahnsinns.

Wie kann es sein, dass dieser Haaaarvardist seinen persönlich empfundenen Ausnahmezustand zum Allgemeingut erklären kann? Welche Verknüpfungs-Phantasien hat er sonst noch studiert? Er ist ja auch noch Vorsitzender im Raumfahrtausschuss. Was kommt als Nächstes? Eine Klima-Pandemie, verursacht durch außerirdische Viren, die die Temperaturen beeinflussen können? Im aktuellen Zeitgeist gibt es nichts, was nicht gedacht wird. Wem die besseren Absurditäten einfallen, der gewinnt. Man muss sich schon den gegebenen Denkstrukturen etwas anpassen, aber sich auch ein wenig Mühe geben.

Nach dem Wechsel der ehemaligen Außen-Dings zur UN (mit dem Ziel, aus den Vereinten Nationen die Feministischen Nationen zu gestalten) und des ehemaligen Wirtschafts-Dings in den Außenausschuss und als Gastdozent in Kalifornien (Thema: Wirtschaftsvernichtung unter Einbeziehung des gespannten Verhältnisses unter Geschwistern aufgrund ärmlicher Verhältnisse, am Beispiel des Märchens von Hänsel und Gretel) , jetzt auch noch der ehemalige Chef-Panikmacher zur WHO.

…und der Wahnsinn wurde hinausgetragen in die Welt, und es wurde dunkel, und es ward Nacht, und es wurde helle, und es ward Tag, der Wind blies oder auch nicht (was macht der Wind eigentlich, wenn er nicht weht?), und es ward Winter, und es wurde kälter, und es wurde wärmer, und es ward Sommer. Es regnete nicht mehr, die Wolken schwitzten. Und Putin verhinderte (wer auch sonst), dass das Eis in der Antarktis abnahm.

Wiederholte Bodentemperaturen in der Toskana von 50 Grad Celsius. Zu erwartende Wassertemperaturen während Ferragosto an der italienischen Adria von durchschnittlich 100 Grad Celsius. An Stellen mit wenig Strömung stiegen schon die ersten Kochblasen auf. Doch dann kam der durch Lachs gestählte, salzlose Super-Karl und rettete mit einem durch die WHO diktierten Klima-Logdown die gesamte Menschheit. Wer besser, als er konnte wissen, dass ein Klima-Logdown weitgehend nebenwirkungsfrei ist.

Was für ein Segen, dass Karl der Große, der uns so siegreich durch die Corona-Schlacht geführt hat, jetzt auch gegen das Klima in den Krieg zieht.

Wer kennt das nicht, Tage der Qual, in denen man zugeben muss: Ich hab‘ heute so schlimm Klima.

Viele Klimaexperten, die weltweit in der Qualitätspropaganda zitiert werden, zeichnen sich besonders dadurch aus, dass sie mit einer maximalen Abweichung von einem Grad Celsius ein Thermometer fehlerfrei ablesen können. Diese Ungenauigkeit wird der Erdverkochungsexperte sicher als erstes beheben.

In einer aufopfernden Studie während eines Urlaubs in 2023, in der um die damalige Zeit erstmals eisfreien Toskana, hat er den von ihm ausgetüftelten Klimaschutzplan ins Rheinische übersetzt. Titel: „Schützen Sie sisch, und, äh, andere!“ Weiter konnte er erforschen, dass die Bodentemperatur nicht immer mit der Temperatur des Erdkerns übereinstimmen muss.

Durch seine unermüdlichen Studien, können Hitzetote in Zukunft besser zugeordnet werden. Man weiß dann, ob jemand an hohen oder mit hohen Temperaturen gestorben ist. Der asymptomatische Klimawandel kann so in Zukunft viel besser bewertet werden. Man hat aus geringfügigen Fehlern gelernt und die Methoden erheblich verbessert.

Eine präzise Vorhersage der Jahreszeiten, vor allem die des Sommers, wird bald ebenfalls möglich sein. Es kann jetzt vor jahreszeitbedingten, teilweise sogar täglich schwankenden Temperaturveränderungen rechtzeitig gewarnt werden. Im Herbst können Heizempfehlungen für die ahnungslose Bevölkerung herausgegeben werden. Frieren war gestern, wissen wann es kalt wird, ist heute. Es wird an Farben geforscht, die noch roter sein sollen, als die, die jetzt in den Wetterkarten bei 21 Grad bereits verwendet werden.

Eine allgemeine Heizpflicht soll es europaweit zunächst nicht geben.

Weiter soll die Lichteinstrahlung der Sonne noch präziser bestimmt werden, damit den Europäern, in Ergänzung zur mitteleuropäischen Sommerzeit, jetzt auch noch genau mitgeteilt werden kann, wann es Tag und wann es Nacht ist.

Das Hinausschauen aus dem Fenster, zum Beispiel, ob es schon dunkel draußen ist, erübrigt sich. Die Tageszeit, in Ergänzung zur herkömmlichen Uhrzeit, wird demnächst automatisch mit dem Klima-Pass übermittelt werden. Zu Anfang natürlich erst einmal freiwillig.

Durch die persönliche ID können dann auch schnell und unkompliziert Sonderprämien überwiesen werden, sofern man sich klimakonform verhalten hat, damit man sich rechtzeitig vor Winterbeginn eine warme Jacke oder einen Mantel kaufen kann. Das Sparen von Bargeld auf eine bevorstehende größere Anschaffung von Winterkleidung wird somit überflüssig.

Ob es am Ende nun um Hitze oder Kälte geht, spielt eigentlich gar keine Rolle, denn wie wussten schon die Ahnen zu berichten: Was gut für die Kälte ist, ist auch gut für die Wärme.

Westliche Mächte unternehmen immer wieder Versuche, eskalierend auf den Ukraine-Konflikt einzuwirken, damit man atombetriebene Heizpilze aufstellen kann, an denen sich die Europäer im Winter auch im Freien wärmen können.

Wie praktisch, dass man nicht nur Gesundheit und Klima, sondern auch Klima und Krieg miteinander verbinden kann. Alles so, oder so ähnlich möglicherweise nachzulesen im genialen Hitzeschutzplan á la Lauterbach.

Besonders Deutschland braucht nicht nur lauterbachsche Hitzeschutzräume, nein es braucht atomsichere Hitzeschutzbunker, so schlägt man gleich zwei Fliegen mit einer Klappe.

Für die, die es sich leisten können, hier ein Vorschlag. Der K2000:

https://www.swr.de/swr1/rp/programm/loriot-mini-luftschutzbunker-zum-preis-einer-waschmaschine-100.html

Für die weniger gut Betuchten reicht auch ein kühles Kellerloch, das man idealerweise im Februar beziehen und nicht vor November wieder verlassen sollte, so die Empfehlung auch von führenden Klima-Forschern, die es ja wissen müssen. Von Dezember bis Januar empfiehlt sich ein Besuch auf den Bahamas, besonders dann, wenn man eine leichte Erkältung verspürt.

Nur Verschwörungstheoretiker behaupten, dass die eigenartigen Anschlussverwendungen der Extrem-Kapazitäten, zu denen Lauterbach ohne Zweifel dazugehört, wie dicke rote Pfeile wirken, die auf Institutionen und Organisationen zeigen, um die man unter allen Umständen einen großen Bogen machen sollte, weil sie möglicherweise nichts Gutes im Schilde führen. Minimal sollen sie angeblich Unsinn verbreiten, maximal sollen sie gehörigen Schaden anrichten.

Man muss sich nur ein paar Gedanken machen, schon kann man feststellen, wie alles mit allem zusammenhängt.

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

* *

(Bild von pixabay)

@ cae03c48:2a7d6671

Bitcoin Magazine

Know Labs, Inc. Announces Adopting a Bitcoin Treasury Strategy, Starting with 1,000 Bitcoin

Know Labs, Inc. (NYSE American: KNW) announced entering into an agreement with Goldeneye 1995 LLC and the Ripple Chief Risk Officer Greg Kidd to acquire a controlling interest in the Company. Following the completion of the transaction, Mr. Kidd will become Chief Executive Officer and Chairman of the Board of Directors of the Company and Founder Ron Erickson will become Vice Chairman of the Board.

JUST IN: Know Labs, Inc. announces its adopting a Bitcoin Treasury Strategy and holds 1,000 Bitcoin pic.twitter.com/NSn2xFZYx0

— Bitcoin Magazine (@BitcoinMagazine) June 6, 2025

Under the agreement, the Buyer will acquire shares of Know Labs’ common stock by dividing the total value of 1,000 Bitcoin and a cash amount, designated to pay down existing debt, redeem outstanding preferred equity, and provide additional working capital. For every share purchased it will be priced at $0.335. The Bitcoin will serve as a central element of the Company’s treasury strategy, giving investors the exposure to Bitcoin.

“I’m thrilled to deploy a Bitcoin treasury strategy with the support of a forward-looking organization like Know Labs at a time when market and regulatory conditions are particularly favorable,” said Mr. Kidd. “We believe this approach will generate sustainable growth and long-term shareholder value.”

Once Bitcoin becomes the primary asset on the Company’s balance sheet, management will adopt the multiple of net asset value (mNAV) metric to assess the premium investors place on the Company’s market value relative to its Bitcoin assets. Based on a market cap of $128 million and a Bitcoin price of $105,000, the estimated entry mNAV multiple is 1.22x, with Bitcoin accounting for approximately 82% of the total market capitalization at closing.

“Partnering with Greg Kidd marks a pivotal next chapter for Know Labs,” commented Mr. Erickson. “We look forward to continuing our research in non-invasive medical technology. Greg’s visionary leadership positions Know Labs for a bold future.”

The adoption of Bitcoin as a treasury reserve asset has dramatically increased over the course of the last year, expanding globally. To date, there are 225 companies and other entities with Bitcoin in their balance sheets. 

Norwegian Block Exchange (NBX), a leading Nordic cryptocurrency exchange and digital asset platform, announced on June 2 that it has added Bitcoin to its balance sheet, marking a national milestone as the first publicly listed company in Norway to hold Bitcoin as part of its treasury strategy.

“NBX will not sell this Bitcoin or go short in any form,” stated the company. “With reference to the latest POA notice with LDA capital, NBX will also use proceeds to buy additional Bitcoin.”

This post Know Labs, Inc. Announces Adopting a Bitcoin Treasury Strategy, Starting with 1,000 Bitcoin first appeared on Bitcoin Magazine and is written by Oscar Zarraga Perez.

@ 7f6db517:a4931eda

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

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

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

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

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

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

Current Nostr Stats

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

@ 9ca447d2:fbf5a36d

Trump Media & Technology Group (TMTG), the company behind Truth Social and other Trump-branded digital platforms, is planning to raise $2.5 billion to build one of the largest bitcoin treasuries among public companies.

The deal involves the sale of approximately $1.5 billion in common stock and $1.0 billion in convertible senior secured notes.

According to the company, the offering is expected to close by the end of May, pending standard closing conditions.

Devin Nunes, CEO of Trump Media, said the investment in bitcoin is a big part of the company’s long-term plan.

“We view Bitcoin as an apex instrument of financial freedom,” Nunes said.

“This investment will help defend our Company against harassment and discrimination by financial institutions, which plague many Americans and U.S. firms.”

He added that the bitcoin treasury will be used to create new synergies across the company’s platforms including Truth Social, Truth+, and the upcoming financial tech brand Truth.Fi.

“It’s a big step forward in the company’s plans to evolve into a holding company by acquiring additional profit-generating, crown jewel assets consistent with America First principles,” Nunes said.

The $2.5 billion raise will come from about 50 institutional investors. The $1 billion in convertible notes will have 0% interest and be convertible into shares at a 35% premium.

TMTG’s current liquid assets, including cash and short-term investments, are $759 million as of the end of the first quarter of 2025. With this new funding, the company’s liquid assets will be over $3 billion.

Custody of the bitcoin treasury will be handled by Crypto.com and Anchorage Digital. They will manage and store the digital assets.

Earlier this week The Financial Times reported Trump Media was planning to raise $3 billion for digital assets acquisitions.

The article said the funds would be used to buy bitcoin and other digital assets, and an announcement could come before a major related event in Las Vegas.

Related: Bitcoin 2025 Conference Kicks off in Las Vegas Today

Trump Media denied the FT report. In a statement, the company said, “Apparently the Financial Times has dumb writers listening to even dumber sources.”

There was no further comment. However, the official $2.5 billion figure, which was announced shortly after by Trump Media through a press release, aligns with its actual filing and investor communication.

Trump Media’s official announcement

This comes at a time when the Trump family and political allies are showing renewed interest in Bitcoin.

President Donald Trump who is now back in office since the 2025 election, has said he wants to make the U.S. the “crypto capital of the world.”

Trump Media is also working on retail bitcoin investment products including ETFs aligned with America First policies.

These products will make bitcoin more accessible to retail investors and support pro-Trump financial initiatives.

But not everyone is happy.

Democratic Senator Elizabeth Warren recently expressed concerns about Trump Media’s Bitcoin plans. She asked U.S. regulators to clarify their oversight of digital-asset ETFs, warning of investor risk.

Industry insiders are comparing Trump Media’s plans to Strategy (MSTR) which has built a multi-billion dollar bitcoin treasury over the last year. They used stock and bond sales to fund their bitcoin purchases.

@ 7f6db517:a4931eda

What is KYC/AML?

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

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

Lists of Bitcoiners

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

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

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

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

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

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@ cae03c48:2a7d6671

Bitcoin Magazine

‘MicroStrategy of Asia’ Metaplanet Aims To Acquire Over 210,000 BTC By the End of 2027

Metaplanet Inc. widely recognized as Japan’s leading Bitcoin treasury company, has announced a major update to its Bitcoin accumulation strategy, unveiling the “555 Million Plan” aimed at acquiring over 210,000 BTC by the end of 2027, which is equivalent to 1% of Bitcoin’s total supply.

*Metaplanet Announces Accelerated 2025-2027 Bitcoin Plan: Targeting 210,000 $BTC by 2027*

Full Presentation: https://t.co/JG28maMdfd pic.twitter.com/i9kzmjlDT8

— Metaplanet Inc. (@Metaplanet_JP) June 6, 2025

This new target marks a dramatic increase from the company’s earlier “21 Million Plan,” which aimed for just 21,000 BTC by 2026. Progress far outpaced expectations, with 8,888 BTC already secured as of June 2, prompting the strategic shift.

To fund this growth, Metaplanet has launched Asia’s largest Bitcoin-focused equity raise, aiming to secure ¥770.9 billion (approximately $5.4 billion) through the issuance of 555 million shares via moving strike warrants. This is the first structure of its kind in Japan, priced at a premium to market, made possible by the company’s high share liquidity and volatility.

At the Annual General Meeting on March 24, shareholders approved an increase in authorized shares from 161 million to 1.61 billion, following a 10-for-1 stock split effective April 1, 2025; Metaplanet has approximately 296 million authorized shares remaining. The 555 million shares being issued under the new plan will bring the company’s fully diluted shares outstanding to around 759 million.

Metaplanet’s Bitcoin yield targets and performance for 2025 have shown strong momentum, with quarterly BTC yields of 41.7% in Q3 2024, 309.8% in Q4 2024, 95.6% in Q1 2025, 66.3% in Q2 2025, and projected 35% yields for both Q3 and Q4 2025. The year-to-date BTC yield for 2025 stands at 225.4%, closing to the full year target of 232%. 

Metaplanet also announced the issuance of the 20th to 22nd Series of Stock Acquisition Rights via a third-party allotment to EVO FUND, potentially adding 555 million new shares. The initial exercise price is set at JPY 1,388 and will adjust regularly based on stock prices, with some series including a premium to protect shareholders. The exercise period runs from June 24, 2025, to June 23, 2027, with expected proceeds of approximately JPY 767.4 billion. This financing supports the “555 Million Plan” and further Bitcoin accumulation.

Metaplanet CEO Simon Gerovich wrote in a post on X, “thanks to all of our shareholders,” he said. “We are honored to be on this journey with you. Metaplanet is accelerating into the future — powered by Bitcoin.”

Metaplanet has launched Asia’s largest-ever equity raise dedicated to Bitcoin:
¥770.9 billion (~$5.4B) capital raise
555 million shares via moving strike warrants
First in Japan: issued at a premium to market — enabled by Metaplanet’s high volatility and deep liquidity… pic.twitter.com/UlXHneyDzo

— Simon Gerovich (@gerovich) June 6, 2025

This post ‘MicroStrategy of Asia’ Metaplanet Aims To Acquire Over 210,000 BTC By the End of 2027 first appeared on Bitcoin Magazine and is written by Oscar Zarraga Perez.

@ 7f6db517:a4931eda

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

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

— ODELL (@ODELL) October 27, 2022

The Basics

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

There is no 'Lightning Network'

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

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

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

Lightning in Practice

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

Sovereign Lightning

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

The Potential Fracture of Lightning

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

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

Summary

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

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

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

@ cae03c48:2a7d6671

Bitcoin Magazine

Bitcoin Life Insurer, Meanwhile, Becomes First Company to Publish Audited Financials Denominated in Bitcoin

Meanwhile Insurance Bitcoin (Bermuda) Limited (“Meanwhile”) announced it has become the first company in the world to release externally audited financial statements denominated entirely in Bitcoin. According to the announcement, the company reported 220.4 BTC in assets and 25.29 BTC in net income for 2024, a 300% year over year increase.

Today marks a global first & historic event for us, along with the public release of our 2024 audited financial statements, covering our 1st year of sales.

As the 1st company in the world to have Bitcoin-denominated financial statements externally audited, we are excited to…

— meanwhile | Bitcoin Life Insurance (@meanwhilelife) June 5, 2025

“We’ve just made history as the first company in the world to have Bitcoin-denominated financial statements externally audited,” said Zac Townsend, CEO of Meanwhile. “This is an important, foundational step in reimagining the financial system based on a single, global, decentralized standard outside the control of any one government.” 

The financial statements were audited by Harris & Trotter LLP and its digital asset division ht.digital. Meanwhile’s financials also comply with Bermuda’s Insurance Act 1978, noting that their BTC denominated financials were approved and comply with official guidelines. The firm, fully licensed by the Bermuda Monetary Authority (BMA), operates entirely in BTC and is prohibited from liquidating Bitcoin assets except through policyholder claims, positioning it as a long term holder. 

“As the first regulated Bitcoin life insurance company, we view the BTC held by Meanwhile as inherently long-term in nature—primarily held to support the Company’s insurance liabilities over decades,” Townsend added. “This makes it significantly ‘stickier’ and resistant to market pressures compared to the BTC held by other companies as part of their treasury management strategies.” 

Meanwhile’s 2024 financials also revealed 23.02 BTC in net premiums and 4.35 BTC in investment income, showing that its model not only preserves Bitcoin, but earns it. The company’s reserves (also held in BTC) were reviewed and approved by Willis Towers Watson (WTW). 

Meanwhile also offers a Bitcoin Whole Life insurance product that allows policyholders to save, borrow, and build legacy wealth—entirely in BTC, and has plans to expand globally in 2025.

“We are incredibly proud of today’s news as it underscores how Meanwhile is at the forefront of the next phase of the convergence between Bitcoin and institutional financial markets,” said Tia Beckmann, CFO of Meanwhile. “Now having generated net income in BTC, we have demonstrated that we are earning it through a sustainable insurance business model designed for the long term.” 

This post Bitcoin Life Insurer, Meanwhile, Becomes First Company to Publish Audited Financials Denominated in Bitcoin first appeared on Bitcoin Magazine and is written by Jenna Montgomery.

@ 7f6db517:a4931eda

What is KYC/AML?

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

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

Lists of Bitcoiners

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

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

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

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

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

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

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

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

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

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

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Bitcoin Magazine

Gemini Files Draft With The SEC For Proposed IPO

Today, Gemini Space Station, Inc. announced that it has confidentially filed a draft registration statement with the US Securities and Exchange Commission for a proposed initial public offering (IPO) of its Class A common stock. Details such as the number of shares and the price range have not been disclosed. The IPO will proceed after the SEC’s review and is subject to market conditions.

JUST IN: @Gemini has confidentially filed for an IPO with the @SECGov.

Details on share count and pricing TBD.

Launch date will depend on SEC review and market conditions.

— Eleanor Terrett (@EleanorTerrett) June 6, 2025

“Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended,” stated the press release. “This announcement is being issued in accordance with Rule 135 under the Securities Act.”

Gemini’s move comes during a period of growing activity in both the public markets and the digital asset space. Just yesterday, Trump Media and Technology Group Corp. (Nasdaq, NYSE Texas: DJT) also filed a Form S-1 with the SEC for its upcoming Truth Social Bitcoin ETF.

“Truth Social Bitcoin ETF, B.T. is a Nevada business trust that issues beneficial interests in its net assets,” stated the Form S-1. “The assets of the Trust consist primarily of bitcoin held by a custodian on behalf of the Trust. The Trust seeks to reflect generally the performance of the price of bitcoin.”

Momentum around Bitcoin and broader crypto policy was also evident last week at the 2025 Bitcoin Conference in Las Vegas. There, Gemini founders Cameron and Tyler Winklevoss joined White House A.I. & Crypto Czar David Sacks to discuss how the government should manage Bitcoin, as well as recent developments in federal policy.

“Orange is the new gold,” said Cameron. “So, Bitcoin is Gold 2.0, and that’s been true since day one. So, at $100,000 Bitcoin, that’s exciting, but if you take 21 million and do the above ground market price of gold. Really, it should be a million dollars a coin—easily,”

They talked about some of the recent policy changes that have been good for crypto include rolling back the IRS digital asset broker rule and SAB 121, which had stopped banks from holding Bitcoin. The Department of Justice also stopped its regulation by prosecution approach, which takes a lot of pressure off digital asset firms.

“It’s hard to imagine a President. Any other President being able to do any fraction of this or accomplish that or any administration and we have just over 100 days,” said Tyler. “So, It’s pretty amazing that we still have a lot of time left.” Later on, he ended the panel saying, “To the Moon!”

This post Gemini Files Draft With The SEC For Proposed IPO first appeared on Bitcoin Magazine and is written by Oscar Zarraga Perez.

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Bitcoin Magazine

TakeOver Successfully Hosts Second Annual BitGala Celebrating Bitcoin in Las Vegas

LAS VEGAS, NV, May 26, 2025 – TakeOver, Magic Eden, Spark, and Stacks successfully hosted their second annual BitGala on May 26th at the Wynn in Las Vegas. The celebration brought together over 200 Bitcoin industry leaders and community members for an evening dedicated to celebrating Bitcoin. 

The BitGala was designed as a curated gathering focused on inspiring continued development, education, and adoption while reflecting on the strides Bitcoin has made toward a future of open, decentralized money. The event successfully brought together key leaders, creating meaningful opportunities for collaboration and strategic partnerships within the Bitcoin space. 

“BitGala celebrates our partnership with Spark, marketing a major leap forward for Bitcoin DeFi,” said Elizabeth Olson, Head of Marketing for Bitcoin at Magic Eden. “As the #1 Bitcoin app, Magic Eden has spent the past few years pushing Bitcoin L1 to its limits, always with the goal of making Bitcoin more usable, fast, and fun without compromising its core ethos. We believe Spark has the potential to unlock a new era of building on Bitcoin, and we’re thrilled to be leading that charge together.” 

“The BitGala was a stunning celebration of Bitcoin culture where luxury meets the cypherpunk spirit. We’re proving that Bitcoin isn’t just a protocol, it’s a movement connecting freedom-minded people from art, fashion, finance, and more. To us, it was a pure signal that people are starting to see what Stacks has been building all along: a future where Bitcoin isn’t just held, but used for apps, defi, and real ownership.” – Rena Shah, COO of Stacks. 

Set against the backdrop of the Sphere, the evening brought together innovators, investors, and community leaders for a night dedicated to celebrating Bitcoin’s growth and the people driving its future. 

The program opened with a welcome reception, followed by gourmet hors d’oeuvres and vibrant conversations. A keynote and honors segment recognized those making meaningful strides in Bitcoin adoption and development. Guests were then invited to explore a premium tequila tasting experience curated by Reach, and indulge in interactive gourmet chef stations. 

“Our team has been fortunate to be part of the Bitcoin community since 2016, so we’re thrilled to see all the progress on display almost 10 years later at Bitcoin 2025. The energy in the room at BitGala was electric—from conversations sparking new partnerships to shared reflections on what’s next for Bitcoin—it was a powerful reminder of why we’re all here: to build an open, decentralized financial system that empowers everyone.” noted Kelley Weaver, Founder and CEO, Melrose PR and Founder, Bitwire. 

This unforgettable gathering—hosted in partnership with leading organizations including Magic Eden, Spark, and Stacks—was more than a celebration. It was a call to continue pushing forward innovation, education, and adoption in

the Bitcoin ecosystem. BitGala was made possible through the generous support of key sponsors and partners who share Takeover’s commitment to fostering connections in the web3 space. 

“We’re focused on making Bitcoin more useful for everyone, and events like this remind us that we’re not alone in that mission. It was inspiring to connect with others who share the vision of a more open, decentralized financial future powered by Bitcoin.” – Spark Team 

Presenting Sponsors: 

• Magic Eden – The largest NFT marketplace and Runes platform. 
• Spark – The fastest, cheapest, most UX-friendly way to build financial apps and launch assets on Bitcoin.
• Stacks – A Bitcoin L2 enabling smart contracts & apps with Bitcoin as secure base layer. 

Supporting Partners: 

• Reach Ventures – a gaming-focused VC firm that actively invests in both early-stage and demo-ready game studios.
• Arch Network – a Bitcoin-native platform for building decentralized apps and smart contracts directly on Bitcoin. 
• Melrose PR – An onchain communications firm that has been focused on the crypto industry exclusively for almost a decade. 
• Bitwire – The modern newswire reimagined for today’s communications professionals. 

The collaborative support from these organizations was instrumental in delivering a memorable event for all attendees. 

Actor and comedian T.J. Miller was also a speaker at the event: “The bitcoin conference 2025 was incredible for so many reasons. It was such a joyful journey to be with so many like-minded people (all of whom have been laughed at) who share the same values: freedom, community, hope, and getting rich- the highpoint was the BitGala. I bought incredibly large expensive shoes for the specific purpose of showing up to the gala non-verbally saying bitcoin destroying Fiat, well that’s big shoes to fill… and we’ll fill ‘em. I can’t wait to return next year. I will wear more orange.” 

About TakeOver 

TakeOver is the experiential agency at the forefront of culture and innovation in the crypto space, known for curating powerful moments that educate, connect, and inspire. With a global Bitcoin Dinner Series and their annual flagship event, BitGala, they’ve become a cornerstone of community-building in Web3. Last year, they made headlines with a dramatic takeover of Nashville’s Parthenon—setting the bar for what crypto gatherings can be. 

About Magic Eden 

Magic Eden is the easiest platform to trade all digital assets onchain. As the #1 Bitcoin app and largest NFT marketplace, we provide a seamless trading experience to everyone. Magic Eden’s acquisition of Slingshot has expanded their capabilities to offer frictionless trading of over 5,000,000 tokens across all major chains. Magic Eden’s expanded product suite includes a cross-chain wallet, powerful trading tools, and the ability to mint, collect, and seamlessly trade NFTs and tokens.

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Disclaimer: This is a sponsored press release. Readers are encouraged to perform their own due diligence before acting on any information presented in this article.

This post TakeOver Successfully Hosts Second Annual BitGala Celebrating Bitcoin in Las Vegas first appeared on Bitcoin Magazine and is written by TakeOver.

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๑) แรงอะไรจูงใจ กับโลกทุนนิยมที่ส่งอิทธิพลไปทุกหัวระแหง ชีวิตของมนุษย์ถูกกระตุ้นรุนเร้าด้วยความมั่งคั่งร่ำรวย ความเป็นอยู่ที่สะดวกสบายมีกินมีใช้ อยากทำอะไรก็ได้ทำ อยากกินอะไรก็ได้กิน หล่อเลี้ยงความสุขด้วยการแย่งชิงผลประโยชน์เพื่อตนเอง ตั้งแต่เด็กจนโต

เบื้องหลังแห่งการดำเนินชีวิตเช่นนั้น สิ่งที่บงการชักใยอยู่ก็คือ ”ตัณหา“ ความอยากได้ อยากมี อยากเป็น สิ่งที่คิด-พูด-ทำก็เป็นไปเพื่อตนเอง และพวกพ้องโดยไม่สนใจว่าจะทำลายใคร ไม่ว่ามนุษย์ สัตว์ หรือสิ่งแวดล้อม เบื้องหน้าแห่งชีวิตเช่นนี้ คือการประชาสัมพันธ์ด้วยความเจริญ โลกาภิวัฒน์ ความหรูหราไม่มีที่สิ้นสุด

แต่ตลอดชั่วชีวิตของเรา การใช้ชีวิตเช่นนี้สามารถมอบความสุขที่แท้จริงให้ได้หรือไม่ เงินซื้อ “ความไม่เจ็บป่วย” ได้หรือไม่ ? เกียรติยศแลกเป็น “ความไม่แก่” ได้หรือไม่ บ้านใหญ่โตหรูหราอยู่อาศัยแล้ว “ไม่ตาย” ได้หรือไม่ คำตอบเดียวที่ได้คือ “ไม่มี” ซึ่งมนุษย์ทุกคนก็ยัง “ทุกข์” อยู่กับความเจ็บป่วย ความแก่ ความตาย อย่างไม่มีเว้น ถึงเวลาหรือยังที่มนุษย์จะหันมาตระหนักกับ ”แรงจูงใจ“ ที่เรียกว่าตัณหานี้

พระพุทธเจ้าทรงเรียนรู้ชีวิตที่มีแต่ความทุกข์ไร้ทางออก หมุนวน จมจ่อม เพราะเหตุจากตัณหาเหล่านี้ชัดแล้ว ได้รู้และเข้าใจว่า “ฉันทะ” หรือความพอใจใฝ่ดี พัฒนาจิตใจให้สูงขึ้น ปลดเปลี้ยงความเห็นแก่ตัว เพื่อใช้ชีวิตคิด-พูด-ทำแต่ความดีงาม สร้างสรรค์สิ่งต่าง ๆ สมบูรณ์เต็มสภาวะของมัน แรงจูงใจเช่นนี้เป็นของยาก ของลำบาก เพราะต้องฝืนตนเอง ฝึกฝนให้จิตใจมีกำลัง ใช้ปัญญาพิจารณาเฟ้นหาประโยชน์จากทุกสิ่งอย่างคุ้มค่า และยั่งยืน

พระอาจารย์ท่านหนึ่ง ได้พูดขึ้นในท่ามกลางสงฆ์ว่า “หลาย ๆ คนที่เป็นคนรวย มีเงินพอได้สิ่งของที่อยากได้มา ตอนสุดท้ายก็มักจะพูดว่า ’นึกกว่าจะดีกว่านี้ อร่อยกว่านี้ มีความสุขกว่านี้ พอได้มาแล้วก็ไม่เห็นดีเหมือนที่คิดไว้เลย’ ซึ่งตรงกันข้ามกับคนที่ปฏิบัติจนเข้าถึงธรรม ไม่มีใครพูดแบบนั้น มีแต่พูดว่า ‘ยิ่งกว่าที่คิดไว้ ดีกว่าที่คิดไว้ ประเสริฐกว่าที่คิดไว้’ ความสุขที่ไม่สามารถจินตนาการได้ ความสุขที่ไม่เคยนำความผิดหวังมาให้ ความสุขประเภทนี้มีแรงจูงใจคือ ”ฉันทะ“ นั่นเอง

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๒) หัวขบวน หากเราอาศัยตัณหานำพาชีวิต ชีวิตของเราก็จะวนเวียนเรื่อยเปื่อย มีแต่ความทุกข์ในปัจจุบัน และทุกข์ที่รออยู่ในอนาคต ชีวิตเช่นนี้ ก็ไม่ต่างอะไรกับชีวิตของแมว-หนู-ปู-กุ้ง-กา-ไก่ เอาแต่ แสวงหาอาหาร-กิน-นอน ได้ความสุขประเดี๋ยวประด๋าว แล้วก็หมดเวลาถึงวาระที่ต้องตายจากไป ไม่เคยรู้จักคุณค่าชีวิตที่แท้จริง ไม่ได้ความสุขสงบเลยสักวินาทีเดียว

พระพุทธเจ้าตรัสรู้แล้ว เล็งเห็นว่า มนุษย์มีศักยภาพที่มากกว่าสัตว์ทั้งหลาย การปล่อยชีวิตให้เต็มไปด้วย “อวิชชา” ความไม่รู้ ก่อให้เกิดตัณหา แล้วก็ชักพาชีวิตทำอกุศลกรรม มีแต่ความทุกข์ตลอดสายนั้น สามารถเปลี่ยนกระบวนทัศน์ได้ โดยมุ่งเน้นที่ “ปัญญา” ความรู้และเข้าใจความเป็นจริง ก่อให้เกิดฉันทะความพอใจใฝ่ดีในชีวิต ขับเคลื่อนเป็นกุศลกรรม สร้างเหตุที่ถูกต้อง ผลที่เป็นความสุข ความไม่ทุกข์ และความพ้นทุกข์ ก็จะตามมา

เพราะฉะนั้นทุกครั้งไม่ว่าทำอะไร หรือไม่ทำอะไร ลองทบทวนดูว่า การตัดสินใจนั้น ๆ มีอะไรเป็นหัวขบวน ”ตัณหา“ หรือ ”ปัญญา“ ใครเหนือกว่าใคร

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๓) หลัก ๑๐ ประการ ครั้งหนึ่งพระพุทธเจ้าได้กำชับกับเหล่าสาวกว่า หากเมื่อใดถูกนักบวชพวกอื่นมาถามถึง หลักธรรมที่พระพุทธองค์ทรงแสดง มีอะไรเป็น ”ที่ตั้งต้น“ และมีอะไรเป็น “ที่จบ” ทรงวางหลักธรรมนั้นไว้ ๑๐ ประการ ได้แก่ * -ธรรมทั้งปวง มีฉันทะ เป็นที่ตั้งต้น * -ธรรมทั้งปวง มีมนสิการ เป็นที่ก่อตัว * -ธรรมทั้งปวง มีผัสสะ เป็นแหล่งเกิด * -ธรรมทั้งปวง มีเวทนา เป็นที่ชุมนุม * -ธรรมทั้งปวง มีสมาธิ เป็นประมุข * -ธรรมทั้งปวง มีสติ เป็นอธิปไตย เป็นใหญ่ * -ธรรมทั้งปวง มีปัญญา เป็นยอดยิ่ง * -ธรรมทั้งปวง มีอมตะ เป็นที่หยังลง * -ธรรมทั้งปวง มีนิพพาน เป็นที่จบ

หลักธรรมชุดนี้ สื่อสารได้ชัดเจนว่า ระบบการ “ปฏิบัติ” ของพระพุทธศาสนานี้ มีจะพัฒนากุศลได้ตั้งแต่ต้นจนถึงจุดหมาย ขอให้สังเกตที่ “ฉันทะ” ที่เป็นหลักธรรมตั้งต้น เชื่อมโยงไปถึงพระนิพพาน “ฉันทะ” นี้ย่อมกล่าวถึงธรรมไม่ใช่อกุศล แต่เป็นธรรมที่เป็นกุศล พัฒนาต่อเนื่องไปถึง สมาธิ-สติ-ปัญญา ได้

สำคัญคือ ความพอใจในธรรม ความรัก ความสนใจใฝ่ดีที่จะพัฒนาตัว เป็นจุดหมุดหมายเริ่มต้นของพุทธธรรม ยิ่งปฏิบัติไป ยิ่งก่อตัวเป็นธรรมที่ใหญ่ขึ้น มีคุณภาพขึ้น และเมื่อถึงจุดหมาย ความสิ้นทุกข์ก็จะเกิดมี เป็นลำดับขั้นตอนอย่างนี้ไม่เคยเปลี่ยนแปลง

——

ตัณหากลัวยาก กลัวลำบาก เมื่อปัญญารู้ว่าดี มีประโยชน์ ถึงยาก ถึงลำบาก ก็ไม่กลัว

——

อาศรมขันติสาร ๑๓ ตุลาคม ๒๕๖๖

แหล่งที่มา #Phramaha Fookij Jutipanyo

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Bitcoin Magazine

Bitcoin 2025 Las Vegas: Here’s What Went Down 

My name is Jenna Montgomery, and maybe you’ve read some of my news articles here before, or seen me on the Bitcoin Magazine TikTok. But today, I wanted to switch it up and give you an inside look at the Bitcoin 2025 Conference in Las Vegas through my eyes as an intern, hired just one month before the conference, having little knowledge about Bitcoin beforehand and never attending an event like this before. 

I’m writing this to give you a real, raw reflection of what I experienced over the course of the three day event, and why I believe you should absolutely attend the next Bitcoin conference. I want you all to know what goes down, what to expect, and to know how impactful I think this event really is. Bitcoin 2025 made a lasting impact on me and my life, and it just feels right to tell you why, so yours can maybe be changed too.

I got off the plane, threw my suitcase in my hotel room, and went to go and see the convention center as all of the finishing touches around the venue were being added. I remember thinking how big, beautiful, and fun the expo hall was—and where I would soon meet so many new people, make so many friends, and shake hands with people that I looked up to and admired. 

I will never forget walking in and seeing the main conference stage, The Nakamoto Stage, for the first time. Seeing that giant room with a symphony and endless rows of chairs, soon to be filled with thousands of passionate Bitcoiners, really put in perspective to me how Bitcoin 2025 wasn’t just a conference, it felt like something bigger. I realized it’s an actual community and a place of countless opportunities. 

The conference is essentially split up into 3 days: Industry Day, General Admission Day 1, and General Admission Day 2. Industry Day was mainly tailored towards professionals, investors, founders, and others focused on Bitcoin businesses. The general admission days were tailored more towards the casual Bitcoiner, and those were the days that I really felt the energy just exploding around the convention center.

INDUSTRY DAY 

Walking into the expo hall early in the morning on Industry Day, I was overwhelmed when I saw all of the vendors and companies setting up their tables, booths, stages, and even a rock climbing wall (thank you CleanSpark). It seemed as if the expo hall went for miles and miles, and featured a long orange carpet that made an intricate path through the venue that led you to each and every booth.

While fiat fails, Bitcoin prevails. pic.twitter.com/EV190PUqdT

— Valentina Gomez (@ValentinaForUSA) May 27, 2025

I remember being in total awe as I looked up at the ceiling and saw a huge UFO in the middle of the expo hall, with two Bitcoin themed Cybertrucks just off to the side of it, with lots of other interesting booths including one with a talking robot.

DAY ONE pic.twitter.com/KHXP6q8RCp

— Gemini (@Gemini) May 27, 2025

As I followed the long orange carpet around the venue, I looked over my shoulder and saw a huge blow-up of a Bitcoin Puppet in the art exhibit, featuring all kinds of other cool Bitcoin art. Some of these pieces of art were worth well over one bitcoin—which was mindblowing to me considering that is more than $100,000. Every good revolution has good art, and seeing all the talented artists pouring their hearts into their work helped me believe that Bitcoin is the future. 

Now, it was time to get to work at where I would spend the majority of my time over the next few days. My coworkers and I were stationed up right in front of the Bitcoin Magazine news desk next to the AV (audio-visual) team, where I had a perfect view of everything. Here, I spent all day every day writing news articles for Bitcoin Magazine based on the speeches, keynotes, and other panels happening on the Nakamoto stage, as well as filming TikTok’s around the expo hall with attendees.

Working in front of the news desk was one of my favorite things about the conference. Everyone who spoke on it live had an electrifying personality that kept me locked into every conversation, especially one of the hosts Pete Rizzo. After every talk on the Nakamoto Stage ended, the live stream would pan over to the news desk where they would break down what happened, providing viewers with expert analysis. This was something extremely very fun to watch live and experience the production of it all first hand.

The talks on Industry Day kicked off to such a great start with Dan Edwards from Steak ‘n Shake, who recently became the first major fast food chain in America to begin accepting Bitcoin Lightning payments. So I was very excited to hear about Edwards’ speech and to visit Steak ‘n Shake’s incredible booth, which also featured a group of fun, dancing cows. 

Steak ‘n Shake COWS HAVE NO CHILL pic.twitter.com/8UkmPhWf9T

— The Bitcoin Conference (@TheBitcoinConf) May 28, 2025

While speaking on stage, Edwards revealed that, “Bitcoin is faster than credit cards, and when customers choose to pay in Bitcoin, we’re saving 50% in processing fees.” Just think about that for a second — saving a whole 50% on each transaction? This really opened my eyes to the benefits of accepting Bitcoin as payment and why it could mean to merchants who adopt it.

Based on everything I heard in that speech, I think Steak ‘n Shake may be the first to start a new trend of other big companies accepting Bitcoin. If they recognized the benefits of Bitcoin, it’s only a matter of time before other franchises do as well.

JUST IN: Fast food giant Steak 'n Shake announced they're saving 50% in processing fees accepting Bitcoin payments

'#Bitcoin is faster than credit cards' pic.twitter.com/bxApgBL6El

— Bitcoin Magazine (@BitcoinMagazine) May 27, 2025

Another big highlight from this day was hearing Senator Cynthia Lummis confirm that President Donald Trump supports her Strategic Bitcoin Reserve Act. There were so many statements made during the conference that I will get to later on that point to the fact that the United States is pro-Bitcoin and we’re going to be the world leader in it. Senator Marsha Blackburn also added to this, stating, “Many of our allies follow what we do. If we lead, others will follow. This is vital to our economic future.” 

JUST IN: Senator Cynthia Lummis said US military generals are "big supporters" of a Strategic Bitcoin Reserve for economic power. pic.twitter.com/2RPMV3tbdA

— Bitcoin Magazine (@BitcoinMagazine) May 27, 2025

At this point in

@ 7f6db517:a4931eda

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

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

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

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

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

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

@ 7f6db517:a4931eda

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

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

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

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

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

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

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

@ 7f6db517:a4931eda

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

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

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

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

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

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

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

@ 7f6db517:a4931eda

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

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

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

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

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

Full Text of Bill

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@ 7f6db517:a4931eda

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

— ODELL (@ODELL) December 14, 2022

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

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

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

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

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

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

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

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

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

@ 7f6db517:a4931eda

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

---

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

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

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

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

---

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

@ 502ab02a:a2860397

มีคนจำนวนไม่น้อยที่เข้าใจว่าเรื่อง “อาหารแห่งอนาคต” คืออะไรที่เพิ่งเกิด เป็นแนวคิดใหม่สำหรับโลกยุคใหม่ แต่จริงๆ แล้วไม่ใช่เลยครับ เฮียว่าเราถูกจัดโต๊ะอาหารอนาคตไว้ให้กินมานานมากแล้ว เพียงแต่ไม่รู้ตัว ต่างหาก

ช่วงปลายคริสต์ศตวรรษที่ 19 สิ่งที่เรียกว่าการ “ควบคุมอาหารมวลชน” ก็เริ่มต้นอย่างจริงจังแล้ว

ย้อนกลับไปปี 1863 ในห้องพักคนไข้ของโรงพยาบาล Battle Creek Sanitarium ที่รัฐมิชิแกน สหรัฐฯ มีชายคนหนึ่งชื่อ John Harvey Kellogg เขาเป็นหมอและเป็นหนึ่งในสาวกของกลุ่ม Seventh-day Adventist ที่เชื่อว่าการกินเนื้อสัตว์ทำให้คนกระด้างใจและเต็มไปด้วยตัณหา เกิดราคะ เขาจึงคิดค้น “อาหารเช้าที่ไม่มีเนื้อ” เพื่อส่งเสริมสุขลักษณะและลดกิเลสในร่างกายมนุษย์ สิ่งที่เขาทำในตอนนั้นคือการใช้ข้าวโพดบดอบแห้งจนกรอบ กลายเป็นสิ่งที่เรียกว่า “ซีเรียล” ในยุคเริ่มต้น ซึ่งภายหลังน้องชายของเขาคือ Will Keith Kellogg จะนำสูตรนั้นไปพัฒนาให้หวานขึ้น ใส่น้ำตาลเพิ่ม ใส่โฆษณาเพิ่ม แล้วก็วางขายในชื่อแบรนด์ Kellogg’s ที่เราเห็นกันทุกเช้านั่นแหละ เขาผลิตคอร์นเฟลกขึ้นมาด้วยความเชื่อว่าจะช่วยลดการช่วยตัวเองในวัยรุ่นได้! จากอาหารของกลุ่มศาสนา คอร์นเฟลกกลายเป็นอาหารที่เข้าสู่ครัวเรือนอเมริกันภายใต้แนวคิดว่า “อาหารเช้าคือมื้อสำคัญที่สุดของวัน” โดยไม่ได้มีหลักฐานรองรับอย่างจริงจังเลย

ช่วงต้นศตวรรษที่ 20 เป็นยุคที่อเมริกาเริ่มมีอำนาจในเชิงอุตสาหกรรมมากขึ้น แต่ก็เป็นยุคที่คนยังทำอาหารกินเองอยู่ในครัว เรื่องอาหารยังเป็นเรื่องของบ้าน ไม่ใช่ของแบรนด์ ยังไม่มีใครนึกว่า “สิทธิ์ในการกิน” จะกลายเป็นสินค้าสาธารณะในภายหลัง แต่แล้วก็เกิดจุดเปลี่ยนสำคัญเมื่อสงครามโลกครั้งที่ 1 และ 2 ทำให้รัฐจำเป็นต้องคิดเรื่องการเลี้ยงประชากรในภาวะขาดแคลน ต้องมีการเก็บอาหารได้นาน ขนส่งได้ง่าย และต้นทุนต่ำ นี่คือจุดเริ่มต้นของการผลักดัน “อาหารแปรรูป” หรือ processed food อย่างเป็นทางการ

ในปี 1911 มีบริษัทชื่อว่า Procter & Gamble เปิดตัว “Crisco” ซึ่งเป็นน้ำมันพืชไฮโดรเจนเนตที่ถูกออกแบบมาเพื่อเลียนแบบไขมันสัตว์ในราคาถูกกว่า Crisco ทำจากน้ำมันฝ้าย (cottonseed oil) ซึ่งตอนนั้นเป็นของเหลือจากอุตสาหกรรมสิ่งทอ ไม่มีใครคิดว่ามันจะกลายเป็นสิ่งที่ถูกโฆษณาว่า “ดีกว่าไขมันสัตว์” แต่เพราะการโฆษณาแบบมืออาชีพและการจับมือกับสมาคมแพทย์ Crisco ก็กลายเป็นของคู่ครัวแบบไม่รู้ตัว นี่คือจุดเริ่มต้นของ fiat fat ไขมันเทียมที่ถูกสถาปนาให้เป็นของจริง ทั้งที่จริงๆ มันคือของปลอมที่ห่อด้วยวิทยาศาสตร์ครึ่งใบ

ช่วงปี 1910s ถึง 1930s คือยุคที่อุตสาหกรรมอาหารเริ่มโตเต็มที่ สหรัฐฯ เริ่มผลิต นมข้นหวาน สำหรับทหารในสงครามกลางเมือง และต่อยอดใช้ในสงครามโลกครั้งที่ 1 นมชนิดนี้เก็บได้นาน ไม่เน่า และมีพลังงานสูง ทหารหลายคนติดใจในรสชาติหวานมันแบบไม่มีอะไรเทียบได้ ซึ่งต่อมาทำให้มันกลายเป็นวัตถุดิบหลักในหลายเมนูทั่วโลก รวมถึง “ชาเย็น” บ้านเราที่ต้องมีนมข้นหวานเท่านั้นถึงจะใช่

เข้าสู่ช่วง สงครามโลกครั้งที่ 2 (1939–1945) คือช่วงหัวเลี้ยวหัวต่อสำคัญของ Fiat Food หรืออาหารที่ถูกผลิตจากตรรกะจำเป็นเชิงยุทธศาสตร์มากกว่าธรรมชาติ เฮียว่าช่วงนี้มันเหมือนโรงเรียนประถมของ Ultra-Processed Food สมัยใหม่เลยล่ะ ตัวอย่างชัดเจนคือ Spam เนื้อหมูกระป๋องที่ออกแบบให้ทหารพกพาสะดวก ไม่ต้องแช่เย็น เก็บได้นาน และอุดมด้วยโซเดียม หลังสงครามจบ มันกลายเป็นอาหารยอดฮิตในประเทศที่เคยเป็นแนวหน้า เช่น ฮาวาย เกาหลี ฟิลิปปินส์ และอังกฤษ โดยถูกโฆษณาว่าเป็น “ของดีจากอเมริกา” ทั้งที่ทหารหลายคนก็เบื่อมันจนเอียน

ในช่วงเดียวกันนั้นเอง ช็อกโกแลต Hershey's ก็ถูกพัฒนาเป็น “Field Ration D” หรือแท่งช็อกโกแลตพลังงานสูงที่ไม่ละลายในอุณหภูมิสูง สำหรับแจกให้ทหารทุกคนคนละแท่งติดตัวไว้ในสนามรบ พอสงครามจบ Hershey’s ก็ปรับสูตรให้กินง่ายขึ้น แล้วขายในเชิงพาณิชย์จนกลายเป็นแบรนด์ระดับโลกแบบที่เราเห็นทุกวันนี้

โพรเซสชีส เช่น Kraft และ Velveeta ก็ถูกออกแบบให้เก็บได้นานไม่เน่า ชีสพวกนี้ผสมสารอิมัลซิไฟเออร์ ทำให้ไม่แยกชั้นเมื่อถูกความร้อน เหมาะกับการผลิตอาหารจำนวนมากแบบโรงครัวทหาร เมื่อสงครามจบ Kraft เอาเทคโนโลยีนี้มาทำ “ชีสแผ่น” สำหรับเบอร์เกอร์และแซนด์วิช เป็นต้นแบบของอาหารฟาสต์ฟู้ดยุคใหม่แบบไร้กลิ่นชีสแท้

นมผง และ ไขมันพืชไฮโดรจิเนต ก็เริ่มเข้ามามีบทบาทในสงคราม โดยนมผงแทนที่นมสดในสนามรบ และไขมันพืชใช้ทำเบเกอรี่โดยไม่ต้องใช้เนยสด ซึ่งแพงกว่า หลังสงคราม สารให้ความหวานเทียมอย่าง ซัคคาริน ก็เริ่มถูกนำเสนอว่าเหมาะกับคนลดน้ำหนัก ทั้งที่มันมีจุดเริ่มจากความจำเป็นยามขาดแคลนน้ำตาลในสงคราม

ปี 1950s-1960s โลกเข้าสู่ยุคสงครามเย็น เทคโนโลยีการเก็บอาหารพัฒนาไปพร้อมกับเทคโนโลยีอวกาศ และหนึ่งในผลิตภัณฑ์ระดับตำนานคือ Tang น้ำส้มผงของบริษัท General Foods ที่ถูกส่งขึ้นไปพร้อมนักบินอวกาศ John Glenn ในปี 1962 Tang กลายเป็นสัญลักษณ์ของ “อนาคตในแก้วน้ำ” ทั้งที่ไม่มีผลไม้จริงเลยสักหยดเดียว แต่การตลาดที่อ้างว่า NASA ใช้ ทำให้มันขายดีระเบิด

ในระหว่างนั้น ปี 1955 ประธานาธิบดีไอเซนฮาวร์หัวใจวายกลางสนามกอล์ฟ เป็นจุดเปลี่ยนอีกครั้งที่โลกเริ่มหันมาสนใจ “ไขมัน” ว่าอาจเป็นผู้ร้าย ทำให้ชายคนหนึ่งชื่อ Ancel Keys เสนอทฤษฎี “ไขมันคือเหตุแห่งโรคหัวใจ” พร้อมกับงานศึกษาที่ชื่อ Seven Countries Study ซึ่งต่อมาจะกลายเป็นที่มาของ “พีระมิดอาหาร” ในปี 1977 โดย USDA ในยุคของวุฒิสมาชิก George McGovern ทฤษฎีนี้ถูกวิจารณ์ภายหลังว่าตั้งต้นด้วยการ “เลือกข้อมูล” ที่สนับสนุนสมมุติฐานของตัวเอง และเมินประเทศที่ข้อมูลไม่เข้าเป้าออกไปเฉยๆ แล้วก็ปั้นพีระมิดที่บอกว่า คาร์โบไฮเดรตอยู่ฐานล่างสุด กินได้เยอะๆ ส่วนไขมันให้อยู่บนสุด กินน้อยๆ นี่คือการพลิกอำนาจอาหารครั้งใหญ่ที่สุดในศตวรรษ อาหารไม่ใช่สิ่งที่มาจากพื้นดิน แต่เป็นสิ่งที่มาจากกระดาษนโยบาย

ช่วงนี้แหละครับที่จุดเปลี่ยนที่ใหญ่สุดมาถึง เมื่อรัฐบาลสหรัฐประกาศใช้นโยบายอาหารใหม่โดยอิงกับคำแนะนำของ USDA ซึ่งภายหลังถูกเปิดโปงว่าปิรามิดอาหารที่ใช้จริงนั้น ผ่านการปรับจากต้นฉบับโดยนักวิทยาศาสตร์อย่างหนักเพื่อ “จัดสรรพื้นที่” ให้กับอาหารที่มี lobby สูง เช่น ข้าว ซีเรียล พาสต้า และน้ำมันพืช โดยให้ไขมันสัตว์ถูกตัดทิ้งไปเป็นตัวอันตราย เฮียว่าโมเมนต์นี้แหละคือจุดที่ "ฟู้ดฟิคชั่น" กลายเป็น "ฟู้ดโพย" สำหรับคนทั้งโลก

ระหว่างที่ USDA กำลังยึดพีระมิดอยู่นั้น อุตสาหกรรมอาหารแปรรูปก็กำลังเข้มข้นแบบใส่สปีดโบ๊ทเข้าไปอีก ข้าวโพดกลายเป็นพืชเศรษฐกิจอันดับหนึ่งของสหรัฐฯ ไม่ใช่เพราะคนกินข้าวโพดกันเยอะ แต่เพราะมันกลายเป็นวัตถุดิบของทุกอย่าง ตั้งแต่ high-fructose corn syrup ในน้ำอัดลม ยันฟิลเลอร์ในไส้กรอก และอาหารสัตว์ในฟาร์มปศุสัตว์ เชนร้านอาหารอย่าง McDonald’s ก็เริ่มเปลี่ยนมันฝรั่งทอดจากไขมันเนื้อวัวมาใช้น้ำมันพืชในยุค 1980s เพราะแรงกดดันจากกลุ่มต่อต้านไขมันอิ่มตัว ทั้งที่รสชาติเปลี่ยนและสุขภาพก็ไม่ได้ดีขึ้น

ปี 1980s-1990s เกิดสิ่งที่เฮียอยากเรียกว่า “การปฏิวัติแบบเนียน” คือผู้คนเริ่มเชื่อว่าอาหารแปรรูปคือความก้าวหน้า และอาหารธรรมชาตินั้นล้าหลัง วงการโภชนาการยังคงถูกขับเคลื่อนด้วยความเชื่อว่าคาร์บคือของดี ไขมันคือผู้ร้าย และโปรตีนต้องมาจากพืช บริษัทใหญ่ๆ อย่าง Nestlé, PepsiCo, และ Unilever เริ่มเข้าซื้อแบรนด์อาหารสุขภาพ พร้อมผลิตเวย์เทียม โปรตีนพืช และอาหารเสริมแทนอาหารจริง พร้อมแนวคิด “Meal Replacement” ที่เน้นขายแทนกิน เขาไม่ได้แค่นำเสนอสินค้า แต่พยายามกำหนดแนวคิดเรื่อง “อาหารเพื่อสุขภาพ” แบบที่คนทั่วไปไม่ต้องคิดเอง ขอแค่เชื่อฉลาก กับดูโลโก้รูปหัวใจสีเขียวก็พอ

ก่อนจะเข้าสู่ศตวรรษใหม่ในปี 2000 โลกก็เริ่มเห็นวี่แววของสิ่งที่เรียกว่า “อาหารแห่งอนาคต” อีกครั้ง ไม่ใช่เพราะเทคโนโลยีใหม่อย่างเดียว แต่เพราะระบบอาหารเดิมถูกบิดเบือนจนธรรมชาติเสียศูนย์ อาหารจริงถูกตีตราว่าอันตราย ส่วนอาหารสังเคราะห์ถูกสร้างเรื่องเล่าว่า "สะอาดกว่า ปลอดภัยกว่า และเป็นคำตอบของโลกอนาคต" ซึ่งในมุมของเฮีย มันคือการสืบทอดวิธีคิดแบบเดียวกับสมัยสงคราม คือการบังคับให้กินของที่ผลิตได้มาก ราคาถูก เก็บได้นาน โดยไม่สนว่าร่างกายต้องการหรือไม่ และทั้งหมดก็กลับมาที่จุดเดิม — การออกแบบอาหารให้เหมาะกับระบบ มากกว่าจะออกแบบระบบให้เหมาะกับร่างกายมนุษย์

นี่แหละเฮียถึงอยากเล่าซีรีส์ “อาหารอนาคต” เพราะในความจริงมันไม่ใช่อนาคตอะไรเลย แต่มันคืออดีตที่ถูกเล่าใหม่ด้วยคำพูดที่ฟังดูเท่ แต่ซ่อนไว้ด้วยตรวนของการควบคุมสิทธิในการกินของมนุษย์ เอาของปลอมมาสวมรอยธรรมชาติ แล้วทำให้เรารู้สึกผิดถ้าจะกินไขมันสัตว์ กินเนื้อ กินไข่ หรือไม่กินอาหารเช้าที่เต็มไปด้วยน้ำตาล เฮียว่า ถ้าไม่เล่าเรื่องพวกนี้ให้คนรู้ทัน ก็เหมือนปล่อยให้ลูกหลานกินอาหารที่ไม่มีใครรู้ว่า “ใครเป็นคนเขียนสูตรให้พวกเขากิน”

ดังนั้น ถ้าเราจะพูดถึง “อาหารแห่งอนาคต” เฮียว่า เราต้องกล้ากลับไปถามว่า อนาคตที่ว่านั่น ใครกันเป็นคนออกแบบ? แล้วเราอยู่ตรงไหนของโต๊ะ?

#pirateketo #กูต้องรู้มั๊ย #ม้วนหางสิลูก #siamstr

@ d6affa19:9110b177

If there were only one thing I had to list as the single most effective way to improve a Female Led Relationship (FLR), it would be found in the phrase “yes, Ma’am.” Whether trying to get the dynamic off the ground or keep it going during the grind of everyday life, this phrase—and the energy it evokes—encompasses so many essential elements of an FLR. In my experience, not many other things continuously breathe life into a relationship like the magic of “yes, Ma’am.”

Of course, this phrase can be modified to the Woman’s desire (“yes, Mistress,” “yes, my Queen,” “yes, Goddess” are common examples), but “yes, Ma’am” is something acceptable nearly anywhere. It’s simple, polite, somewhat discreet, and yet extremely effective and powerful. In an FLR (even in a low-protocol dynamic), the phrase is elevated from a basic formality to an invocation of trust, respect, and surrender.

The words by themselves are powerless. But when consistently expressed with the right energy and intention, it becomes a sort of miniature ritual that keeps them both anchored to the relationship. This shouldn’t be conflated with “yes, Dear,” a phrase stereotypically used when a man is merely appeasing a Woman. No, the energy here is not to appease, but to please. Because She deserves it.

To illustrate this further, let’s dig into the depth I find in these two words.

An Invocation of Structure, Trust, and Identity

“Yes, Ma’am” is so deceptively simple. It’s a verbal expression of his obedience—the bare minimum a Woman should receive in an FLR. And it keeps the framework intact in everyday life, especially when the mood is subtle or non-sexual.

In this way, “yes, Ma’am” reinforces the foundation of the FLR. Each utterance reminds them both of their positions. Each declaration quiets any confusion. Each delivery deepens the dynamic and tightens the structure.

When these words are spoken and consistently followed up with action, they demonstrate emotional maturity—that he’s moved beyond questioning whether She’s “right” and into the realm of devotion. It signals to Her that Her needs don’t have to be proven to him anymore and that Her preferences don’t need to be justified.

He’s no longer debating Her logic, making excuses, or searching for loopholes; he’s no longer resisting or self-protecting. He’s not agreeing as an equal, he’s not negotiating with Her, he’s not hedging Her demand. He is simply submitting to Her.

Just as it’s “yes, Ma’am” when She tells him to kneel, it’s also “yes, Ma’am” when She asks him to fix the sink, or dismisses a request, or even reminds him to do something he’s about to do. “Yes, Ma’am,” then act.

The Words Alone Are Not the Magic

Again, the magic of “yes, Ma’am” doesn’t reside in the words themselves, but in the intention, energy, and action behind them. The phrase itself is just a vessel. Just as a chalice, the words hold something sacred, but the sanctity resides in the wine, not the cup. The action, the delivery, and the consistency are what give the phrase its power.

If spoken with resentment, sarcasm, or with no follow-through, they mean nothing. If he speaks them but then delays, argues, or makes excuses, then his submission is inauthentic. This undermines trust and, ultimately, the relationship. But when he says “yes, Ma’am” and immediately acts on Her direction—despite being tired, flustered, aroused, or even in disagreement, then that is real submission; that is profound trust. And that is what She feels.

And that’s what he feels. It becomes a reminder of his humility and an expression of self-discipline in service to Her. Over time, it shifts his thought patterns and instincts. He may feel uncertainty, self-pity, or insecurity, but “yes, Ma’am” melts it all into clarity. Old responses like “Well, actually…” “Can’t I just…” “I thought we agreed…” “Why can’t You…” are simply replaced with “yes, Ma’am.”

Even if he’s feeling exhausted, annoyed, or needy. There are no complaints or explanations, only Her will and a choice to put aside his ego, align with Her rhythm, and re-center his purpose. This is an act of vulnerability. He is placing his emotional safety in Her hands and relying on Her to care for his well-being.

It communicates to Her:
- “I hear You.”
- “I will act on Your desires.”
- “I trust You more than I trust my resistance.”
- “I’m Yours, even now, especially now.”

And let’s not ignore the erotic undertones in this depth of surrender. A simple phrase makes his discipline audible, echoing Her power. It bears his humility, longing, eagerness, vulnerability—his contained arousal. And She knows. She hears the plea. She feels the weight—the tension—the heat—the surrendered will… Ever-present, even in the most mundane moments…

Closing Thoughts

Of course, this level of devotion takes practice and a great deal of trust. No one is perfect, so he will fail at times, but that’s what makes it so beautiful—it’s a continuously active and conscious choice. And, at first, it may sound awkward for him or forced, but with dedication and intention She will begin to hear the tone, feel the vibe, and sense the sincerity in it. This energy is what builds Her trust in him.

This phrase, or rather the mindset behind it, has improved my own relationship so, so much. While it may not fit into every experience, it’s something that I discovered was a missing piece in mine. Enough so that I felt compelled to share.

Because as a relationship goes on, things change—passions fluctuate, pain resurfaces, doubts arise, life gets busy, things get heavy—but “yes, Ma’am” remains steady and intimate. Piece by piece trust and devotion are built with thousands of quiet yeses. And regardless of the circumstances, “yes, Ma’am” gently whispers “this is still us; this is still our shared truth; this is still sacred” over and over again.

@ 7f6db517:a4931eda

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

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

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

nostr is to twitter as bitcoin is to paypal

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

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

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

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

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

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

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

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My Nostr Public Key: npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx

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

@ 7f6db517:a4931eda

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

— ODELL (@ODELL) December 14, 2022

Good morning.

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

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

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

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

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

@ 7f6db517:a4931eda

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

— ODELL (@ODELL) December 14, 2022

Good morning.

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

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

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

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

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

@ 7f6db517:a4931eda

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

— ODELL (@ODELL) December 14, 2022

Good morning.

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

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

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

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

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

@ 7f6db517:a4931eda

What is KYC/AML?

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

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

Lists of Bitcoiners

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

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

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

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

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

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

@ 7f6db517:a4931eda

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

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

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

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

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

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

Current Nostr Stats

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Contribute to keep No Bullshit Bitcoin news going.

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

What's new

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

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

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

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

  • For more technical details, see the protocol spec.

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

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

Fixes

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

Blog Post / Archive
GitHub Repo
CCC Guide
Key Teleport site

@ 7f6db517:a4931eda

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

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

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

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

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

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

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@ 9ca447d2:fbf5a36d

Wall Street is warming up to Bitcoin and getting closer and closer to it.

Cantor Fitzgerald, one of the oldest and most respected investment banks on Wall Street, has launched a $2 billion bitcoin-backed lending program.

They’ve reportedly already done their first deals, lending to two big digital asset companies: FalconX and Maple Finance.

This is a big step in connecting traditional finance to the fast-moving world of Bitcoin.

Cantor’s new service allows big investors, hedge funds and asset managers, to borrow money using bitcoin as collateral.

This is a game changer for institutions that hold bitcoin, as they can now access liquidity without having to sell their assets.

“Institutions holding bitcoin are looking to broaden their access to diverse funding sources,” said Christian Wall, co-CEO and global head of fixed income at Cantor Fitzgerald.

“And we are excited to support their liquidity needs to help them drive long term growth and success.”

The loans are not speculative or unsecured.

They are structured like traditional finance deals, backed by the borrower’s bitcoin. This reduces the risk for Cantor while giving bitcoin-holding companies new ways to grow and operate.

The first recipients of Cantor’s lending program are FalconX, a digital asset brokerage, and Maple Finance, a blockchain-based lending platform.

FalconX confirmed they secured a credit facility of over $100 million. Maple Finance also received the first tranche of their loan from Cantor.

This comes at a time when the bitcoin lending space is recovering after a tough period. Several big firms went under in 2022 and investor confidence was shaken.

Now with traditional finance on board, bitcoin-backed lending has returned. According to Galaxy Research the total size of the digital asset lending market grew to $36.5 billion in Q4 2024.

Cantor’s move into bitcoin-backed lending isn’t new. They announced their plans in July 2024 and have been building their presence in the Bitcoin space since then.

Earlier this year, they partnered with Tether, SoftBank and Bitfinex to launch Twenty One Capital, a $3.6 billion fund to buy over 42,000 bitcoin.

In May 2025 Cantor Equity Partners merged with Twenty One Capital and bought nearly $459 million worth of bitcoin.

They also own around $1.9 billion in shares of Strategy, a company that holds a lot of bitcoin. Clearly Cantor believes in bitcoin as a long-term asset.

Cantor is also a big player in the stablecoin space.

They manage U.S. Treasury reserves for Tether, the company behind the $142 billion USDT stablecoin. This adds another layer of trust and credibility to Cantor’s digital asset involvement.

To secure the bitcoin used as collateral, Cantor has partnered with digital asset custodians Anchorage Digital and Copper.co.

These companies are known for their robust security and institutional-grade infrastructure. Cantor hasn’t disclosed loan terms or interest rates but confirmed the lending will follow current regulations.

This also shows how traditional financial players are embracing DeFi.

Maple Finance for example allows undercollateralized lending using blockchain. By backing companies like Maple, Cantor is innovating while still having control and compliance.

For years, bitcoin-backed loans were only available through digital-asset-native companies like Genesis, BlockFi, and Ledn.

These loans were mostly for smaller clients and retail investors. But with Cantor’s entry, the scale and professionalism of bitcoin lending are expanding.

@ 7f6db517:a4931eda

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

Live Free or Die.

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

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

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

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

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

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@ b1ddb4d7:471244e7

Hosted at the iconic Palace of Culture and Science—a prominent symbol of the communist era—the Bitcoin FilmFest offers a vibrant celebration of film through the lens of bitcoin. The venue itself provides a striking contrast to the festival’s focus, highlighting bitcoin’s core identity as a currency embodying independence from traditional financial and political systems.

𝐅𝐢𝐱𝐢𝐧𝐠 𝐭𝐡𝐞 𝐜𝐮𝐥𝐭𝐮𝐫𝐞 𝐰𝐢𝐭𝐡 𝐩𝐨𝐰𝐞𝐫𝐟𝐮𝐥 𝐦𝐮𝐬𝐢𝐜 𝐯𝐢𝐛𝐞𝐬.
Warsaw, Day Zero at #BFF25 (European Bitcoin Pizza Day) with @roger__9000, MadMunky and the @2140_wtf squad pic.twitter.com/9ogVvWRReA

— Bitcoin FilmFest (@bitcoinfilmfest) May 28, 2025

This venue represents an era when the state tightly controlled the economy and financial systems. The juxtaposition of this historical site with an event dedicated to bitcoin is striking and thought-provoking.

The event features a diverse array of activities, including engaging panel discussions, screenings of both feature-length and short films, workshops and lively parties. Each component designed to explore the multifaceted world of bitcoin and its implications for society, offering attendees a blend of entertainment and education.

The films showcase innovative narratives and insights into bitcoin’s landscape, while the panels facilitate thought-provoking discussions among industry experts and filmmakers.

Networking is a significant aspect of the festival, with an exceptionally open and friendly atmosphere that foster connections among participants. Participants from all over Europe gather to engage with like-minded individuals who share a passion for BTC and its implications for the future.

The open exchanges of ideas foster a sense of community, allowing attendees to forge new connections, collaborate on projects, and discuss the potential of blockchain technology implemented in bitcoin.

The organization of the festival is extraordinary, ensuring a smooth flow of information and an expertly structured schedule filled from morning until evening. Attendees appreciate the meticulous planning that allowed them to maximize their experience. Additionally, thoughtful touches such as gifts from sponsors and well-chosen locations for various events contribute to the overall positive atmosphere of the festival.

Overall, the Bitcoin FilmFest not only highlights the artistic expression surrounding bitcoin but also serves as a vital platform for dialogue—about financial freedom, the future of money, and individual sovereignty in a shifting world.

The event successfully bridges the gap between a historical symbol of control and a movement that celebrates freedom, innovation, and collaboration in the digital age, highlighting the importance of independence in financial systems while fostering a collaborative environment for innovation and growth.

Next year’s event is slated for June 5-7 2026. For further updates check: https://bitcoinfilmfest.com/

@ cae03c48:2a7d6671

Bitcoin Magazine

Mapping Bitcoin’s Bull Cycle Potential

Bitcoin’s Market Value to Realized Value, or MVRV ratio, remains one of the most reliable on-chain indicators for identifying local and macro tops and bottoms across every BTC cycle. By isolating data across different investor cohorts and adapting historical benchmarks to modern market conditions, we can generate more accurate insights into where Bitcoin may be headed next.

The Bitcoin MVRV Ratio

The MVRV Ratio compares Bitcoin’s market price to its realized price, essentially the average cost basis for all coins in the network. As of writing, BTC trades around $105,000 while the realized price floats near $47,000, putting the raw MVRV at 2.26. The Z-Score version of MVRV standardizes this ratio based on historical volatility, enabling clearer comparisons across different market cycles.

Figure 1: Historically, the MVRV Ratio and the MVRV Z-Score have accurately identified cycle peaks and bottoms. View Live Chart

Short-Term Holders

Short-term holders, defined as those holding Bitcoin for 155 days or less, currently have a realized price near $97,000. This metric often acts as dynamic support in bull markets and resistance in bear markets. Notably, when the Short Term Holder MVRV hits 1.33, local tops have historically occurred, as seen several times in both the 2017 and 2021 cycles. So far in the current cycle, this threshold has already been touched four times, each followed by modest retracements.

Figure 2: Short Term Holder MVRV reaching 1.33 in more recent cycles has aligned with local tops. View Live Chart

Long-Term Holders

Long-term holders, who’ve held BTC for more than 155 days, currently have an average cost basis of just $33,500, putting their MVRV at 3.11. Historically, Long Term Holder MVRV values have reached as high as 12 during major peaks. That said, we’re observing a trend of diminishing multiples each cycle.

Figure 3: Achieving a Long Term Holder MVRV value of 8 could extrapolate to a BTC price in excess of $300,000. View Live Chart

A key resistance band now sits between 7.5 and 8.5, a zone that has defined bull tops and pre-bear retracements in every cycle since 2011. If the current growth of the realized price ($40/day) continues for another 140–150 days, matching previous cycle lengths, we could see it reach somewhere in the region of $40,000. A peak MVRV of 8 would imply a price near $320,000.

A Smarter Market Compass

Unlike static all-time metrics, the 2-Year Rolling MVRV Z-Score adapts to evolving market dynamics. By recalculating average extremes over a rolling window, it smooths out Bitcoin’s natural volatility decay as it matures. Historically, this version has signaled overbought conditions when reaching levels above 3, and prime accumulation zones when dipping below -1. Currently sitting under 1, this metric suggests that substantial upside remains.

Figure 4: The current 2-Year Rolling MVRV Z-Score suggests more positive price action ahead. View Live Chart

Timing & Targets

A view of the BTC Growth Since Cycle Lows chart illustrates that BTC is now approximately 925 days removed from its last major cycle low. Historical comparisons to previous bull markets suggest we may be around 140 to 150 days away from a potential top, with both the 2017 and 2021 peaks occurring around 1,060 to 1,070 days after their respective lows. While not deterministic, this alignment reinforces the broader picture of where we are in the cycle. If realized price trends and MVRV thresholds continue on current trajectories, late Q3 to early Q4 2025 may bring final euphoric moves.

Figure 5: Will the current cycle continue to exhibit growth patterns similar to those of the previous two cycles? View Live Chart

Conclusion

The MVRV ratio and its derivatives remain essential tools for analyzing Bitcoin market behavior, providing clear markers for both accumulation and distribution. Whether observing short-term holders hovering near local top thresholds, long-term holders nearing historically significant resistance zones, or adaptive metrics like the 2-Year Rolling MVRV Z-Score signaling plenty of runway left, these data points should be used in confluence.

No single metric should be relied upon to predict tops or bottoms in isolation, but taken together, they offer a powerful lens through which to interpret the macro trend. As the market matures and volatility declines, adaptive metrics will become even more crucial in staying ahead of the curve.

For more deep-dive research, technical indicators, real-time market alerts, and access to a growing community of analysts, visit BitcoinMagazinePro.com.

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Disclaimer: This article is for informational purposes only and should not be considered financial advice. Always do your own research before making any investment decisions.

This post Mapping Bitcoin’s Bull Cycle Potential first appeared on Bitcoin Magazine and is written by Matt Crosby.

@ cae03c48:2a7d6671

Bitcoin Magazine

Bitcoin Life Insurer, Meanwhile, Becomes First Company to Publish Audited Financials Denominated in Bitcoin

Meanwhile Insurance Bitcoin (Bermuda) Limited (“Meanwhile”) announced it has become the first company in the world to release externally audited financial statements denominated entirely in Bitcoin. According to the announcement, the company reported 220.4 BTC in assets and 25.29 BTC in net income for 2024, a 300% year over year increase.

Today marks a global first & historic event for us, along with the public release of our 2024 audited financial statements, covering our 1st year of sales.

As the 1st company in the world to have Bitcoin-denominated financial statements externally audited, we are excited to…

— meanwhile | Bitcoin Life Insurance (@meanwhilelife) June 5, 2025

“We’ve just made history as the first company in the world to have Bitcoin-denominated financial statements externally audited,” said Zac Townsend, CEO of Meanwhile. “This is an important, foundational step in reimagining the financial system based on a single, global, decentralized standard outside the control of any one government.” 

The financial statements were audited by Harris & Trotter LLP and its digital asset division ht.digital. Meanwhile’s financials also comply with Bermuda’s Insurance Act 1978, noting that their BTC denominated financials were approved and comply with official guidelines. The firm, fully licensed by the Bermuda Monetary Authority (BMA), operates entirely in BTC and is prohibited from liquidating Bitcoin assets except through policyholder claims, positioning it as a long term holder. 

“As the first regulated Bitcoin life insurance company, we view the BTC held by Meanwhile as inherently long-term in nature—primarily held to support the Company’s insurance liabilities over decades,” Townsend added. “This makes it significantly ‘stickier’ and resistant to market pressures compared to the BTC held by other companies as part of their treasury management strategies.” 

Meanwhile’s 2024 financials also revealed 23.02 BTC in net premiums and 4.35 BTC in investment income, showing that its model not only preserves Bitcoin, but earns it. The company’s reserves (also held in BTC) were reviewed and approved by Willis Towers Watson (WTW). 

Meanwhile also offers a Bitcoin Whole Life insurance product that allows policyholders to save, borrow, and build legacy wealth—entirely in BTC, and has plans to expand globally in 2025.

“We are incredibly proud of today’s news as it underscores how Meanwhile is at the forefront of the next phase of the convergence between Bitcoin and institutional financial markets,” said Tia Beckmann, CFO of Meanwhile. “Now having generated net income in BTC, we have demonstrated that we are earning it through a sustainable insurance business model designed for the long term.” 

This post Bitcoin Life Insurer, Meanwhile, Becomes First Company to Publish Audited Financials Denominated in Bitcoin first appeared on Bitcoin Magazine and is written by Jenna Montgomery.

@ 7f6db517:a4931eda

What is KYC/AML?

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

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

Lists of Bitcoiners

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

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

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

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

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

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• RoboSats v0.7.7-alpha is now available!

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

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

Source: RoboSats.

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

What's new

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

Source: RoboSats.

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

New contributors

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

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

GitHub Repo

@ b1ddb4d7:471244e7

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

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

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

First Steps

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Building on Bitcoin

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

@ 7f6db517:a4931eda

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

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

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

nostr is to twitter as bitcoin is to paypal

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

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

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

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

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

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

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

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My Nostr Public Key: npub1qny3tkh0acurzla8x3zy4nhrjz5zd8l9sy9jys09umwng00manysew95gx

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

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

— ODELL (@ODELL) October 27, 2022

The Basics

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

There is no 'Lightning Network'

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

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

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

Lightning in Practice

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

Sovereign Lightning

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

The Potential Fracture of Lightning

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

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

Summary

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

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

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What is KYC/AML?

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

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

Lists of Bitcoiners

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

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

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

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

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

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

• Upcoming updates for Bitcoin Safe include Compact Block Filters.

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

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

What's new in v1.3

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

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

Announcement / Archive
Blog Post / Archive
GitHub Repo
Website

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This update brings key enhancements for clarity and usability:

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

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

Learn how to get started with Sparrow wallet:

Release notes (v2.2.0)

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

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

What's new in v2.2.1

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

Announcement / Archive
GitHub Repo

@ 7f6db517:a4931eda

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

— ODELL (@ODELL) December 14, 2022

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

What's new

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

Other changes

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

#FREESAMOURAI

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

Announcement / Archive
GitHub Repo

@ 7f6db517:a4931eda

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

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

— ODELL (@ODELL) September 16, 2018

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

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

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

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

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

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

What's new

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

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

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

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

  • For more technical details, see the protocol spec.

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

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

Fixes

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

Blog Post / Archive
GitHub Repo
CCC Guide
Key Teleport site