@ c1e6505c:02b3157e

I rarely make black and white photographs. I usually find color more interesting. But sometimes, it’s wise to strip it away.

Color can be distracting. It can pull attention from what matters. Beauty, I believe, should be simple - something that’s felt, not overthought.

Removing the excessive, the superfluous, can do a lot. It reduces noise. It reveals what’s often hidden. What’s elusive becomes clear.

@ d360efec:14907b5f

🚀📉 #BTC วิเคราะห์ H2! พุ่งชน 105K แล้วเจอแรงขาย... จับตา FVG 100.5K เป็นจุดวัดใจ! 👀📊

จากากรวิเคราะห์ทางเทคนิคสำหรับ #Bitcoin ในกรอบเวลา H2:

สัปดาห์ที่แล้ว #BTC ได้เบรคและพุ่งขึ้นอย่างแข็งแกร่งค่ะ 📈⚡ แต่เมื่อวันจันทร์ที่ผ่านมา ราคาได้ขึ้นไปชนแนวต้านบริเวณ 105,000 ดอลลาร์ แล้วเจอแรงขายย่อตัวลงมาตลอดทั้งวันค่ะ 🧱📉

ตอนนี้ ระดับที่น่าจับตาอย่างยิ่งคือโซน H4 FVG (Fair Value Gap ในกราฟ 4 ชั่วโมง) ที่ 100,500 ดอลลาร์ ค่ะ 🎯 (FVG คือโซนที่ราคาวิ่งผ่านไปเร็วๆ และมักเป็นบริเวณที่ราคามีโอกาสกลับมาทดสอบ/เติมเต็ม)

👇 โซน FVG ที่ 100.5K นี้ ยังคงเป็น Area of Interest ที่น่าสนใจสำหรับมองหาจังหวะ Long เพื่อลุ้นการขึ้นในคลื่นลูกถัดไปค่ะ!

🤔💡 อย่างไรก็ตาม การตัดสินใจเข้า Long หรือเทรดที่บริเวณนี้ ขึ้นอยู่กับว่าราคา แสดงปฏิกิริยาอย่างไรเมื่อมาถึงโซน 100.5K นี้ เพื่อยืนยันสัญญาณสำหรับการเคลื่อนไหวที่จะขึ้นสูงกว่าเดิมค่ะ!

เฝ้าดู Price Action ที่ระดับนี้อย่างใกล้ชิดนะคะ! 📍

BTC #Bitcoin #Crypto #คริปโต #TechnicalAnalysis #Trading #FVG #FairValueGap #PriceAction #MarketAnalysis #ลงทุนคริปโต #วิเคราะห์กราฟ #TradeSetup #ข่าวคริปโต #ตลาดคริปโต

@ 68768a6c:0eaf07e9

What Is Bitcoin? Bitcoin is the world’s first decentralized digital currency—created in 2009 by an anonymous person (or group) under the name Satoshi Nakamoto. Unlike regular money, it’s not printed or controlled by any government or bank. Instead, it runs on a global network of computers using a technology called blockchain. Why Is Bitcoin Valuable? Bitcoin is often called “digital gold” because it’s limited in supply—only 21 million bitcoins will ever exist. This scarcity, combined with increasing demand and global adoption, makes it valuable. Many people invest in Bitcoin as a hedge against inflation or unstable currencies. How Can You Use Bitcoin? Today, Bitcoin can be used for: Online shopping (some stores accept it) Transferring money across borders Investing for long-term growth You can store it in a digital wallet and send it anywhere in the world in minutes—with low fees. The Risks and Rewards Bitcoin prices can go up or down quickly—it’s very volatile. But many investors believe it will grow in value as the world becomes more digital. Tip for Beginners: Never invest more than you can afford to lose. Start small, learn as you go, and stay updated. Final Thoughts Bitcoin is more than just internet money—it’s a revolution in how we think about value, privacy, and freedom. Whether you’re a curious beginner or a savvy investor, understanding Bitcoin could be your first step toward financial innovation.

@ 9c9d2765:16f8c2c2

CHAPTER SEVENTEEN

"I don't get it... How is James still in charge?" Tracy murmured, her brows furrowed as she stared at her screen. She sat in her office, fingers nervously drumming against her desk.

Across from her, Mark stood with arms folded, pacing slowly. "You mean after all that evidence? After the blacklist, the embezzlement records nothing happened?"

Tracy shook her head. "Nothing. I checked again this morning. He’s still listed as President of JP Enterprises. It’s like the files we found didn’t even exist."

Helen, who had been silent until now, hissed through clenched teeth. "This is ridiculous. Are you sure the information got to the right hands?"

"It did," Tracy insisted. "I sent it directly to the Prime Minister's inbox using a confidential channel. I even received a delivery confirmation. Someone higher up must’ve swept it under the rug or maybe James covered his tracks faster than we imagined."

Mark slumped into the chair, clearly defeated. "He’s not just lucky he’s smart. Smarter than we gave him credit for."

For the first time since they began scheming, their confidence had begun to falter. They had dug into James’s past, unearthed the most damning of records, and yet… nothing. He remained untouched. Unshaken.

James continued to lead JP Enterprises with iron resolve, his status not just preserved, but strengthened. Whatever scandal they tried to ignite had fizzled out before it could burn.

The silence from JP's top board members was loud. No statements. No investigations. Not even a whisper of an internal review. To the outside world, James remained the unshakable President who had pulled a crumbling empire back from the edge.

Mark clenched his jaw. "He must have allies who are protecting him."

Helen nodded slowly. "We underestimated him. That was our biggest mistake."

Tracy remained quiet, her eyes still fixed on the screen as if trying to decipher what had gone wrong. She had risked everything, accessed confidential files, and violated protocols, expecting James to crumble.

Instead, he was thriving.

"Have you heard?" Robert leaned over his desk, eyes wide with interest. "JP Enterprises is about to celebrate their sixteenth anniversary. It’s going to be the biggest corporate event of the year."

Christopher looked up from the documents he was reviewing. "I heard. Mr. and Mrs. JP are returning for it. The entire business world is going to be there including us."

Robert nodded. "Every major company in and out of the city has received an invitation. It’s not just a celebration, it's a power show. A way for JP Enterprises to remind everyone who’s at the top."

Indeed, the buzz around the sixteenth anniversary of JP Enterprises was like nothing the city had seen in years. Massive banners were already being hoisted across the city skyline. High-end hotels were fully booked. Fashion designers, chefs, tech specialists, and media crews from around the world were preparing for the grand occasion. It was more than a business event, it was a spectacle.

At the heart of the preparations was James, the young and surprisingly unshakable President of JP Enterprises. Under his leadership, the company had grown in power and reach, and the anniversary was both a celebration of its legacy and a testament to its transformation.

Meanwhile, at Ray Enterprises, tension brewed behind the scenes. Though they were invited, the Ray family carried mixed feelings about attending the event. Memories of humiliation and disbelief still lingered the day James had revealed himself as the President was still fresh in their minds.

"We have no choice but to attend," Helen muttered in frustration during a board meeting. "If we stay away, we’ll seem petty and afraid. But going there means bowing our heads to him again."

Sarah, the secretary, tried to mask her discomfort. "It’s a corporate event, ma’am. It might be best to appear neutral… diplomatic."

Rita, now reinstated as General Manager, remained quiet but observant. She knew better than anyone how unpredictable James could be when it came to public appearances. She had no idea what to expect from him at the anniversary.

Back at JP Enterprises, preparations continued in full force. The guest list included billionaires, global CEOs, high-ranking politicians, and the most influential figures across industries. Red carpets would roll out, cameras would flash, and speeches would echo through the grand hall like music from an orchestra.

The city, already buzzing with excitement, awaited the grand event.

"I can’t believe it," the young woman muttered as she stared at her phone, her hands trembling with excitement. "James… the same James who used to sleep in front of Mr. Kola’s grocery store? He’s the President of JP Enterprises now?"

Her name was Evelyn. Sharp-tongued, impatient, and fueled by bitter memories, she had known James during his hardest days on the streets, days when survival meant fighting for leftovers and sleeping on cold sidewalks. To her, his rise wasn’t a success story to be admired. It was a jackpot she felt entitled to.

Storming into the JP Enterprises headquarters during working hours, Evelyn ignored the receptionist's polite inquiries and pushed her way toward the executive wing.

"I want to see James!" she shouted, causing heads to turn in the busy lobby. "I know he’s here. Tell him Evelyn from the street is here!"

Security was alerted immediately, but by then, Evelyn had already reached the waiting area outside the President’s office.

James, who was in a brief meeting with department heads, heard the commotion and stepped out with a composed expression. As soon as his eyes met Evelyn’s, something shifted. He recognized her instantly.

"Evelyn?" he said, frowning slightly. "What are you doing here?"

"Don’t act like you don’t know me, James," she snapped, crossing her arms. "You owe me. We suffered together. I was there when you were nothing. Now you’re swimming in wealth and you think you can forget the people who once mattered!"

James’s expression hardened.

"This is not the place for this kind of talk. You’re disrupting my company’s operations. If you need help, there are proper channels"

"To hell with proper channels!" she yelled. "I came to get what’s mine!"

That was enough. James turned to the nearby security officer. "Escort her out. And make sure she doesn’t return without a valid appointment."

The security guards moved quickly, but Evelyn didn’t go quietly. She shouted all the way to the exit, throwing insults, struggling, and drawing even more attention.

Among those who witnessed the scene was Tracy. At first, she thought it was just a random case of disturbance by some unruly visitor trying to make trouble. But as she watched James’s calm yet stern expression, and the woman’s emotional outburst, something clicked in her cunning mind.

This is gold, she thought, quickly pulling out her phone and snapping a series of pictures from the hallway James arguing with a ragged woman, the woman being dragged out, and James watching in silence. What a perfect way to ruin his reputation.

Tracy, ever the opportunist, reviewed the photos and smirked.

This is it… this will shake him up.

Without hesitation, she sent the pictures to Helen and Mark, attaching a voice note.

@ 472f440f:5669301e

Marty's Bent

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

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

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

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

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

Make some noise!

Bitcoin Adoption by Power Companies: The Next Frontier

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

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

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

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

Headlines of the Day

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

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

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

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

---

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

Sign Up

Ten31, the largest bitcoin-focused investor, has deployed 145,630 sats | $150.00M across 30+ companies through three funds. I am a Managing Partner at Ten31 and am very proud of the work we are doing. Learn more at ten31.vc/invest.

---

Final thought...

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

---

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

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

@ 472f440f:5669301e

Marty's Bent

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

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

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

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

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

Make some noise!

Bitcoin Adoption by Power Companies: The Next Frontier

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

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

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

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

Headlines of the Day

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

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

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

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

---

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

Sign Up

Ten31, the largest bitcoin-focused investor, has deployed 145,630 sats | $150.00M across 30+ companies through three funds. I am a Managing Partner at Ten31 and am very proud of the work we are doing. Learn more at ten31.vc/invest.

---

Final thought...

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

---

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

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

@ bf47c19e:c3d2573b

Originalni tekst na bitcoin-balkan.com.

---

Pregled sadržaja

1. Definisanje novca
2. Šta je sredstvo razmene?
3. Šta je obračunska jedinica?
4. Šta je zaliha vrednosti?
5. Zašto su važne funkcije novca?
6. Novac Gubi Funkciju: Alhemičar iz Njutonije
7. Eksploatacija pomoću Novca: Agri Perle
8. Novac Gubi Funkciju 2. Deo: Kejnslandski Bankar
9. Da li nas novac danas eksploatiše?
10. Šta je novac, i zašto trebate da brinete?
11. Efikasnija Ušteda Novca
12. Zasluge
13. Molim vas da šerujete!

---

Google izveštava o stalnom povećanju interesa u svetu za pitanje „Šta je novac?“ koji se postavlja iz godine u godinu, od 2004. do 2021., a sa naglim porastom nakon finansijske krize 2008. godine.

I izgleda se da niko nema dobar odgovor za to.

Godišnji proseci mesečnih interesa za pretragu. 100 predstavlja najveći interes za pretragu tokom čitavog perioda, koji se dogodio u decembru 2019. Podaci sa Google Trends-a.

Međutim, odgovaranje na ovo naizgled jednostavno pitanje pomoći će vam da razjasnite ulogu novca u vašem životu. Jednom kada shvatite kako novac funkcioniše, tačno ćete videti i zašto svet danas ludi – i šta učiniti povodom toga. Zato hajde da se udubimo u to.

Na pitanje šta je novac, većina ljudi otvori svoje novčanike i pokaže nekoliko novčanica – “evo, ovo je novac!”

Ali po čemu se ove novčanice razlikuju od stranica vaše omiljene knjige? Pa, naravno, zavod za izradu novčanica te zemlje je odštampao te novčanice iz vašeg novčanika kako bi se oduprla falsifikovanju, i svi ih koriste da bi kupili odredjene stvari.

Međutim, Nemačka Marka imala je sva ova svojstva u prošlosti – ali preduzeća danas ne prihvataju te novčanice. Zapravo, građani Nemačke su početkom dvadesetih godina prošlog veka spaljivali papirne Marke kako bi grejali svoje domove. Marka je imala veću vrednost kao papir za potpalu nego kao novac!

1923. nemačka valuta poznata kao Marka bila je jeftinija od uglja i drveta!

Pa šta to čini novac, novcem?

Ispostavilo se da ovo nije pitanje na koje je lako dati odgovor.

Definisanje novca

Novac nije fizička stvar poput novčanice dolara. Novac je društveni sistem koji koristimo da bismo olakšali trgovinu robom i uslugama. Međutim, tokom istorije fizička monetarna dobra igrala su ključnu ulogu u društvenom sistemu novca, često kao znakovi koji predstavljaju vrednost u monetarnom sistemu. Ovaj sistem ima tri funkcije: 1) Sredstvo Razmene, 2) Obračunsku Jedinicu i 3) Zalihu Vrednosti.

Odakle dolaze ove funkcije, i zašto su one vredne?

Šta je sredstvo razmene?

Sredstvo razmene je neko dobro koje se obično razmenjuje za drugo dobro. Najčešće objašnjenje za to kako su se pojavila sredstva razmene glasi otprilike ovako: Boris ima ječam i želeo bi da kupi ovcu od Marka. Marko ima ovce, ali želi samo piliće. Ana ima piliće, ali ona ne želi ječam ili ovce.

To se naziva problem sticaja potreba: dve strane moraju da žele ono što druga ima da bi mogle da trguju. Ako se želje dve osobe ne podudaraju, oni moraju da pronađu druge ljude sa kojima će trgovati dok svi ne pronađu dobro koje žele.

Ljudi koji trguju robom i uslugama moraju da imaju potrebe koje se podudaraju.

Vremenom, veoma je verovatno da će se određena vrsta robe, poput pšenice, pojaviti kao sredstvo razmene jer su je mnogi ljudi želeli. Uzimajući pšenicu kao primer: pšenica je rešila “sticaje potreba” u mnogim zanatima, jer čak i ako onaj koji prima pšenicu a nije želeo da je koristi za sebe, znao je da će je neko drugi želeti.

Ovo nazivamo prodajnost imovine.

Pšenica je dobar primer dobra za prodaju jer svi moraju da jedu, a od pšenice se pravi hleb. Pšenica ima vrednost kao sastojak hleba i kao dobro koje olakšava trgovinu rešavanjem problema „sticaja potreba“.

Razmislite o svojoj želji da dobijete više novčanica u eurima ili drugoj valuti. Ne možete da jedete novčanice da biste preživeli, a i ne bi vam bile od velike koristi ako poželite da ih koristite kao građevinski materijal za vašu kuću. Međutim, znate da sa tim novčanicama možete da kupite hranu i kuću.

Stvarne fizičke novčanice su beskorisne za vas. Novčanice su vam dragocene samo zato što će ih drugi prihvatiti za stvari koje su vama korisne.

Tokom dugog perioda istorije, novac je evoluirao do te mere da monetarno dobro može imati vrednost, a da to dobro ne služi za bilo koju drugu ‘suštinsku’ upotrebu, poput hrane ili energije. Umesto toga, njegova upotreba je zaliha vrednosti i jednostavna zamena za drugu robu u bilo kom trenutku koji poželite.

Šta jedno dobro čini poželjnijim i prodajnijim od drugog dobra?

Deljivost

Definicija: Sposobnost podele dobra na manje količine.

Loš Primer: Dijamante je teško podeliti na manje komade. Za zajednicu od hiljada ljudi koji dnevno izvrše milione transakcija, dijamanti čine loše sredstvo razmene. Previše su retki i nedeljivi da bi se koristili za mnoge transakcije.

Potrebno je puno obuke da bi izrezali dijamant.

Ujednačenost

Definicija: Sličnost pojedinačnih jedinica odredjenog dobra.

Loš Primer: Krave nisu ujednačene – neke su veće, neke manje, neke bolesne, neke zdrave. Sa druge strane, unca čistog zlata je jednolična – jedna unca je potpuno ista kao sledeća. Ovo svojstvo se takođe često naziva zamenljivost.

Svaka je jedinstvena na svoj način.

Prenosivost

Definicija: Lakoća transporta dobra.

Loš Primer: Krava nije baš prenosiva. Zlatnici su prilično prenosivi. Papirne novčanice su još prenošljivije. Knjiga u kojoj se jednostavno beleži vlasništvo nad tim vrednostima (poput Rai kamenog sistema ili digitalnog bankovnog računa) je neverovatno prenosiva, jer nema fizičkog dobra koje treba nositi sa sobom za kupovinu. Postoji samo sistem za evidentiranje vlasništva nad tim vrednostima u nematerijalnom obliku.

Novac star 5000 godina VS novac star 13 godina

Kako dobro postaje sredstvo razmene?

Dobra postaju, i ostaju sredstva razmene zbog svoje univerzalne potražnje, takođe poznate kao njihova prodajnost, čemu pomažu svojstva koja su gore nabrojana.

Mnogo različitih dobara mogu u različitoj meri delovati kao sredstva razmene u ekonomiji. Danas, naša globalna ekonomija koristi valute koje izdaju države, zlato, pa čak i robu poput nafte kao sredstvo razmene.

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Šta je obračunska jedinica?

Stvari se komplikuju kada u ekonomiji postoji mnogo robe koja se prodaje. Čak i sa samo 5 dobara, postoji 10 “kurseva razmene” između svake robe kojih svi u ekonomiji moraju da se sete: 1 svinja se menja za 15 pilića, 1 pile se menja za 15 litara mleka, desetak jaja se menja za 15 litara mleka, i tako dalje. Ako ekonomija ima 50 dobara, među njima postoji 1.225 “kurseva razmene”!

Sredstvo za merenje vrednosti

Zamislite obračunsku jedinicu kao sredstvo za merenje vrednosti. Umesto da se sećamo vrednosti svakog dobra u poredjenju sa drugim dobrima, mi samo treba da se setimo vrednosti svakog dobra u poredjenju sa jednim dobrom – obračunskom jedinicom.

Umesto da se setimo 1.225 kurseva razmene kada imamo 50 proizvoda na tržištu, mi treba da zapamtimo samo 50 cena.

Na primer, ne treba da se sećamo da litar mleka vredi 1/15 piletine ili desetak jaja, možemo da se samo setimo da litar mleka košta 1USD.

Mnogo opcija, sve u istoj obračunskoj jedinici.

Poređenje dobara je lakše sa obračunskom jedinicom

Obračunska jedinica takođe olakšava upoređivanje vrednosti i donošenje odluka. Zamislite da pokušavate da kupite par Nike Air Jordan patika kada ih jedan prodavac prodaje za jedno pile, a drugi za 50 klipova kukuruza.

Šta je zaliha vrednosti?

Do sada smo gledali samo primere transakcija koje se odvijaju u određenom trenutku u vremenu.

Međutim, ljudi vrše transakcije tokom vremena – oni štede novac i troše ga kasnije. Da bi odredjeno dobro moglo da funkcioniše pravilno kao monetarno dobro, ono treba da održi vrednost tokom vremena.

Novac koji vremenom dobro drži vrednost daje njegovom imaocu više izbora kada će taj novac da potroši.

To znači da prodajnost dobra uključuje njegovu sposobnost da održi vrednost tokom vremena.

Šta jedno dobro čini boljom zalihom vrednosti od drugog dobra?

Trajnost

Definicija: Sposobnost dobra da vremenom zadrži svoj oblik.

Loš Primer: Jagode čine lošu zalihu vrednosti jer se lako oštete i brzo trunu.

Odluka je daleko lakša ako jedan prodavac naplaćuje 150 USD, a drugi 200 USD – odmah je očigledno koja je bolja ponuda jer su vrednosti izražene u istoj jedinici.

Nije sjajna forma novca.

Teške za Proizvodnju

Definicija: Teškoće koje ljudi imaju u proizvodnji veće količine dobra.

Loš Primer: Papirne novčanice predstavljaju lošu zalihu vrednosti jer banke i vlade mogu jeftino da ih naprave.

Sa zlatom je suprotno – u ponudi se nalazi ograničena količina uprkos velikoj potražnji za njim, jednostavno zato što ga je vrlo teško iskopati iz zemlje. Ova ograničena ponuda osigurava da svaka jedinica zlata održi vrednost tokom vremena.

Traženje zlata je spora i teška aktivnost. Obično se ne pronađe puno!

Kako dobra postaju zalihe vrednosti?

Dobro postaje zaliha vrednosti ako se vremenom pokaže trajnim i teškim za proizvodnju.

Samo će vreme pokazati da li je neko dobro zaista trajno i da li ga je teško proizvesti. Zbog toga neki oblici novca su postojali vekovima pre nego što je neko otkrio način da ih proizvede više, i na kraju se to dobro više nije koristilo kao novac.

Ovo je priča o školjkama, Rai kamenju i mnogim drugim oblicima novca tokom istorije.

Zlato je primer dobra koje je hiljadama godina služilo kao dobra zaliha vrednosti. Zlato se ne razgrađuje tokom vremena i još uvek ga je teško proizvesti. Hiljadama godina alhemičari su bezuspešno pokušavali da sintetišu zlato iz jeftinih materijala.

Čak i sa današnjim naprednim rudarskim tehnikama, svake godine svi svetski rudnici zlata zajedno mogu da proizvedu samo 2% od ukupne ponude zlata u prometu.

Teškoće u proizvodnji zlata daju izuzetno visok odnos “zaliha i protoka”: zaliha je broj postojećih jedinica, a protok su nove jedinice stvorene tokom određenog vremenskog perioda. Svake godine se stvori vrlo malo novih jedinica zlata, iako je potražnja za zlatom obično vrlo velika.

Kombinujući ovo sa deljivošću, ujednačenošću i prenosivošću zlata, nije ni čudo što je zlato čovečanstvu služilo kao monetarno dobro tokom poslednjih 5.000 godina. Pošto je zlato teško proizvesti, možemo ga nazvati teškim novcem (hard money).

Kao rezultat toga, svoju vrednost je u velikoj meri zadržao kroz milenijume. Cena većine dobara i usluga u pogledu zlata zapravo se vremenom smanjivala kao rezultat tehnoloških inovacija, koje sve proizvode čine jeftinijim.

Uzmimo na primer cene hrane prema praćenju Kancelarije za hranu i poljoprivredu UN-a: sa obzirom na skokove u poljoprivrednoj tehnologiji tokom poslednjih 60 godina, cene hrane drastično su pale kada se procenjuju u zlatu. To čak i važi uprkos činjenici da obični ljudi retko koriste zlato za kupovinu stvari.

Cene hrane su padale u pogledu zlata tokom proteklih 60 godina, i mnogo pre toga (FAO Indeks Cena Hrane u Zlatu)

Zaliha vrednosti omogućava ljudima da uštede novac kako bi mogli da ga ulažu u pokretanje preduzeća i obrazovanje, povećavajući produktivnost društva.

Monetarna dobra koja dobro čuvaju vrednost takođe podstiču dugoročniji pogled na život, ili kratke vremenske preference. Pojedinac može da radi 10 godina, uštedi odredjeno monetarno dobro koje je dobra zaliha vrednosti, i nema potrebe da se plaši da će njegova ušteđevina biti izbrisana krahom tržišta ili povećanjem ponude tog dobra.

Zašto su važne funkcije novca?

Kada neki oblik novca izgubi bilo koju od svojih važnih funkcija kao što su sredstvo razmene, obračunska jedinica i zaliha vrednosti, celokupna ekonomija i društvo mogu da se rastrgnu.

Tokom istorije često vidimo grupe ljudi koje eksploatišu druge iskorišćavajući nesporazume o novcu i važnosti njegovih funkcija.

Sledeće, proći ću kroz istoriju novca, prvo hipotetički da bih ilustrovao poentu, a zatim ću preći na stvarne istorijske primere. Kroz ove primere videćemo štetne efekte na društva u slučajevima kada se izgubi samo jedna od tih ključnih funkcija novca.

Novac Gubi Funkciju: Alhemičar iz Njutonije

Kroz istoriju, mnoga dobra su dolazila i odlazila kao oblici novca. Na žalost, kada se neki oblik novca ukine, ponekad postoji grupa ljudi koja eksploatiše drugi oblik manipulišući tim novcem.

Hajde da pogledamo hipotetičko selo zvano Njutonija da bismo razumeli kako dolazi do ove eksploatacije.

Zelene perle postaju Novac

Tokom stotina godina ribolova u obližnjoj reci, stanovnici Njutonije sakupljali su zelene perle iz vode. Zrnca su mala, lagana, izdržljiva, jednolična i retko se pojavljuju u reci. Ljudi prvo priželjkuju perle zbog svoje lepote. Na kraju, seljani shvataju da svi drugi žele perle – one se vrlo lako mogu prodati. Zrnca uskoro postaju sredstvo razmene i obračunska jedinica u selu: pile je 5 zrna, vreća jabuka 2 zrna, krava 80 zrna.

Ukupna ponuda perli je prilično konstantna i cene se vremenom ne menjaju mnogo. Seoski starešina je uveren da može da se opustiti u poslednjim danima živeći od svoje velike zalihe perli.

Alhemičar stvara više perli

Seoski alhemičar je poželeo da bude bogat čovek, ali nije voleo da vredno radi na tome. Umesto da traži perle u reci ili da prodaje vrednu robu drugim seljanima, on sedeo je u svojoj laboratoriji. Na kraju je otkrio kako da lako stvori stotine perli sa malo peska i vatre.

Seljani koji su tragali za perlama u reci bili su srećni ako bi svaki dan pronašli po 1 zrno. Alhemičar je mogao da proizvede stotine uz malo napora.

Alhemičar troši svoje perle

Budući da je bio prilično zao, alhemičar nije svoj metod pravljenja zrna delio ni sa kim drugim. Stvorio je sebi još više perli i počeo da ih troši za dobra na tržištu u Njutoniji. Tokom sledećih meseci, alhemičar je kupio farmu pilića, nekoliko krava, finu svilu, posteljine i ogromno imanje. On je imao priliku da kupi ova dobra po normalnim cenama na tržištu.

Alhemičarevo trošenje ostavljalo je seljanima mnogo perli, ali malo njihove vredne robe.

Svi seljani su se osećali bogatima – imali su tone perli! Međutim, polako su primetili da i svi ostali takodje imaju tone.

Cene počinju da rastu

Uzgajivač pilića primetio je da sva roba koju je trebalo da kupi na pijaci poskupela. Džak jabuka sada se prodaje za 100 perli – 50 puta više od njihove cene pre nekoliko meseci!

Iako je sada imao hiljade perli, uskoro bi mogao da ostane bez njih zbog ovih cena. Pitao se – da li zaista može sebi da priušti da prodaje svoje piliće za samo 5 perli po komadu? Morao je i on da podigne svoje cene.

Jednostavno rečeno, kao rezultat alhemičarevog trošenja njegovih novostvorenih perli, bilo je previše perli koje su jurile premalo dobara – pa su cene porasle.

Kupci robe bili su spremni da potroše više perli da bi kupili potrebna dobra. Prodavci robe su trebali da naplate više da bi bili sigurni da su zaradili dovoljno da kupe potrebna dobra za sebe.

Budući da su cene svih dobara porasle, možemo reći da se vrednost svake perle smanjila.

Nejednakost bogatstva raste

Seoski starešina, koji je vredno radio da sačuva hiljade perli, sada se našao osiromašenim i gladnim. U međuvremenu, alhemičar je udobno sedeo na svom velikom imanju sa kravama, pilićima i slugama koji su se brinuli za svaki njegov hir.

Alhemičar je efikasno ukrao bogatstvo celog sela, tako što je jeftino proizvodio perle i koristio ih za kupovinu vredne robe.

Ono što je najvažnije, kupio je robu pre nego što je tržište shvatilo da je više perli u opticaju i da ima manje robe, što je dovelo do rasta cena. Ova dodatna proizvodnja perli nije dodala korisnu robu ili usluge selu. Kroz istoriju, mnoga dobra su dolazila i odlazila kao oblici novca. Na žalost, kada se neki oblik novca ukine, ponekad postoji grupa ljudi koja eksploatiše drugi oblik manipulišući tim novcem.

Hajde da pogledamo hipotetičko selo zvano Njutonija da bismo razumeli kako dolazi do ove eksploatacije.

Zelene perle postaju Novac

Tokom stotina godina ribolova u obližnjoj reci, stanovnici Njutonije sakupljali su zelene perle iz vode. Zrnca su mala, lagana, izdržljiva, jednolična i retko se pojavljuju u reci. Ljudi prvo priželjkuju perle zbog svoje lepote. Na kraju, seljani shvataju da svi drugi žele perle – one se vrlo lako mogu prodati. Zrnca uskoro postaju sredstvo razmene i obračunska jedinica u selu: pile je 5 zrna, vreća jabuka 2 zrna, krava 80 zrna.

Ukupna ponuda perli je prilično konstantna i cene se vremenom ne menjaju mnogo. Seoski starešina je uveren da može da se opustiti u poslednjim danima živeći od svoje velike zalihe perli.

Alhemičar stvara više perli

Seoski alhemičar je poželeo da bude bogat čovek, ali nije voleo da vredno radi na tome. Umesto da traži perle u reci ili da prodaje vrednu robu drugim seljanima, on sedeo je u svojoj laboratoriji. Na kraju je otkrio kako da lako stvori stotine perli sa malo peska i vatre.

Seljani koji su tragali za perlama u reci bili su srećni ako bi svaki dan pronašli po 1 zrno. Alhemičar je mogao da proizvede stotine uz malo napora.

Alhemičar troši svoje perle

Budući da je bio prilično zao, alhemičar nije svoj metod pravljenja zrna delio ni sa kim drugim. Stvorio je sebi još više perli i počeo da ih troši za dobra na tržištu u Njutoniji. Tokom sledećih meseci, alhemičar je kupio farmu pilića, nekoliko krava, finu svilu, posteljine i ogromno imanje. On je imao priliku da kupi ova dobra po normalnim cenama na tržištu.

Alhemičarevo trošenje ostavljalo je seljanima mnogo perli, ali malo njihove vredne robe.

Svi seljani su se osećali bogatima – imali su tone perli! Međutim, polako su primetili da i svi ostali takodje imaju tone.

Cene počinju da rastu

Uzgajivač pilića primetio je da sva roba koju je trebalo da kupi na pijaci poskupela. Džak jabuka sada se prodaje za 100 perli – 50 puta više od njihove cene pre nekoliko meseci!

Iako je sada imao hiljade perli, uskoro bi mogao da ostane bez njih zbog ovih cena. Pitao se – da li zaista može sebi da priušti da prodaje svoje piliće za samo 5 perli po komadu? Morao je i on da podigne svoje cene.

Jednostavno rečeno, kao rezultat alhemičarevog trošenja njegovih novostvorenih perli, bilo je previše perli koje su jurile premalo dobara – pa su cene porasle.

Kupci robe bili su spremni da potroše više perli da bi kupili potrebna dobra. Prodavci robe su trebali da naplate više da bi bili sigurni da su zaradili dovoljno da kupe potrebna dobra za sebe.

Budući da su cene svih dobara porasle, možemo reći da se vrednost svake perle smanjila.

Nejednakost bogatstva raste

Seoski starešina, koji je vredno radio da sačuva hiljade perli, sada se našao osiromašenim i gladnim. U međuvremenu, alhemičar je udobno sedeo na svom velikom imanju sa kravama, pilićima i slugama koji su se brinuli za svaki njegov hir.

Alhemičar je efikasno ukrao bogatstvo celog sela, tako što je jeftino proizvodio perle i koristio ih za kupovinu vredne robe.

Ono što je najvažnije, kupio je robu pre nego što je tržište shvatilo da je više perli u opticaju i da ima manje robe, što je dovelo do rasta cena. Ova dodatna proizvodnja perli nije dodala korisnu robu ili usluge selu.

Eksploatacija pomoću Novca: Agri Perle

Nažalost, priča o alhemičaru iz Njutonije nije u potpunosti hipotetička. Ovaj prenos bogatstva kroz stvaranje novca ima istorijske i moderne presedane.

Na primer, afrička plemena su nekada koristila staklene perle, poznate kao “agri perle”, kao sredstvo razmene. U to vreme plemenskim ljudima je bilo veoma teško da prave staklene perle, i one su predstavljale težak novac unutar njihovog plemenskog društva.

Niko nije mogao jeftino da proizvede perle i koristiti ih za kupovinu skupe, vredne robe poput kuća, hrane i odeće.

Eksploatacija pomoću Novca: Agri Perle

Nažalost, priča o alhemičaru iz Njutonije nije u potpunosti hipotetička. Ovaj prenos bogatstva kroz stvaranje novca ima istorijske i moderne presedane.

Na primer, afrička plemena su nekada koristila staklene perle, poznate kao “agri perle”, kao sredstvo razmene. U to vreme plemenskim ljudima je bilo veoma teško da prave staklene perle, i one su predstavljale težak novac unutar njihovog plemenskog društva.

Niko nije mogao jeftino da proizvede perle i koristiti ih za kupovinu skupe, vredne robe poput kuća, hrane i odeće.

Perle proizvedene u Gani

Sve se promenilo kada su stigli Evropljani, i primetili upotrebu staklenih perli kao novca.

U to vreme, Evropljani su mogli jeftino da stvaraju staklo u velikim količinama. Kao rezultat toga, Evropljani su počeli tajno da uvoze perle i koriste ih za kupovinu dobara, usluga i robova od Afrikanaca.

Peć za izradu stakla u Muranu, Italija. Ovo ostrvo izvan Venecije proizvodi staklo od 15. veka.

Vremenom se iz Afrike izvlačila vredna roba i ljudi, dok je plemenima ostajalo mnogo perli i malo robe.

Perle su izgubile veći deo vrednosti zbog inflacije uzrokovane snabdevanjem od strane Evropljana.

Rezultat je bio osiromašenje afričkih plemena i bogaćenje Evropljana, kako to ovde objašnjava monetarni istoričar Bezant Denier.

Dragocena roba je kupljena jeftino proizvedenim monetarnim dobrom.

Profitiranje na proizvodnji novca: Emisiona dobit

Ova priča ilustruje kako se bogatstvo prenosi kada jedna grupa može jeftino da proizvodi monetarno dobro.

Razlika između troškova proizvodnje monetarnog dobra i vrednosti tog monetarnog dobra poznata je kao emisiona dobit, eng. seignorage.

Kada je monetarno dobro mnogo vrednije od troškova proizvodnje, ljudi će proizvesti više od monetarnog dobra da bi uhvatili profit od emisione dobiti.

Na kraju će ova povećana ponuda dovesti do pada vrednosti monetarnog dobra. To je zbog zakona ponude i potražnje: kada se ponuda povećava, cena (poznata i kao vrednost) dobra opada.

Novac Gubi Funkciju 2. Deo: Kejnslandski Bankar

U priči o Njutoniji, alhemičar je otkrio način da se od malo peska jeftino stvori više zelenih perli. To se u stvarnosti odigralo kroz trgovinu između Evropljana i Afrikanaca, pričom o agri perlama. Međutim, ove priče su pomalo zastarele – mi više ne trgujemo robom za perle.

Da bismo nas doveli do modernog doba, hajde da promenimo neka imena u našoj priči:

1. Selo Njutonija postaje država koja se zove Kejnsland
2. Alhemičar postaje bankar
3. Seoski starešina postaje penzioner
4. Zelene perle postaju zlato, koje niko ne može jeftinije da stvori – čak ni bankar.

Bankar Menja Papirne Novčanice za Zlato

Kao i u stvarnosti, bankar u ovoj priči nema formulu ili trik da stvori više zlata. Međutim, bankar bezbedno čuva zlato u vlasništvu svakog građanina Kejnslanda. Bankar daje svakom građaninu po jednu potvrdu za svaku uncu zlata koje ima u svom trezoru.

Te potvrde se mogu iskoristiti u bilo koje vreme za stvarno zlato. Papirne potvrde ili novčanice su mnogo pogodnije za plaćanje nego nošenje zlata kroz supermarket.

Građani su srećni – oni imaju prikladno sredstvo plaćanja u vidu bankarevih novčanica, i znaju da niko ne može da ukrade njihovo bogatstvo falsifikujući više zlata.

Građani na kraju počinju da plaćaju u potpunosti papirnim novčanicama, ne trudeći se nikad da zamene svoje novčanice za zlato. Na kraju, novčanice postaju “dobre kao i zlato” – svaka predstavlja fiksnu količinu zlata u bankarevom trezoru.

Ukupno kruži 1.000.000 novčanica, od kojih je svaka otkupljiva za jednu uncu zlata. 1.000.000 unci zlata sedi u bankarevom trezoru. Svaka novčanica je u potpunosti podržana u zlatu.

Starešina koji je sačuvao sve svoje perle u priči o Njutoniji sada je penzioner u Kejnslandu, koji svoje zlato drži u banci i planira da ugodno živi od novčanica koje je dobio zauzvrat.

Hajde da u ovu priču dodamo i novi lik: premijera Kejnslanda. Premijer naplaćuje porez od građana i koristi ga za plaćanje javnih usluga poput policije i vojske. Premijer takođe drži vladino zlato kod bankara.

Bankar Menja Papirne Novčanice za Dug

Premijer želi da osigura da nacionalno zlato ostane na sigurnom, pa banku štiti policijom. Bankar i premijer se zbog toga zbližavaju, pa premijer traži uslugu. Traži od bankara da kreira 200.000 novčanica za premijera, uz obećanje da će mu premijer vratiti za pet godina. Premijeru su novčanice potrebne za finansiranje rata. Građani Kejnslanda borili su se protiv većih poreza zbog finansiranja rata, pa je morao da se obrati bankaru.

Bankar se slaže da izradi novčanice, ali pod jednim uslovom: bankar uzima deo od 10.000 novčanica za sebe. Premijer prihvata posao kojim bankar ’kupuje državni dug’. Sada je u opticaju 1.200.000 novčanica, potpomognutih kombinacijom 1.000.000 unci zlata i ugovorom o dugu sa vladom za 200.000 novčanica.

Premijer troši svoje nove novčanice na bombe kupujući ih od dobavljača iz domaće vojne industrije, a bankar sebi kupuje veliki luksuzni stan.

Dobavljač iz vojne industrije koristi sve nove novčanice koje je dobio od premijera da kupi amonijum nitrat (đubrivo koje se koristi u bombama) za proizvodnju bombi. Sve njegove kupovine povećavaju cenu đubriva za uzgajivače pšenice u Kejnslandu, pa oni podižu cenu pšenice.

Kao uzrok toga, pekar koji kupuje pšenicu treba da podigne cenu svog hleba da bi ostao u poslu. Na taj način cene u Kejnslandu počinju da rastu, baš kao što su to činile u Njutoniji kada su nove perle ušle u opticaj.

Papirne Novčanice Više Ne Predstavljaju Zlato

Penzioner nailazi na finansijski časopis u kojem se pominje premijerov dogovor da se zaduži za finansiranje rata. Obzirom da je mudar, on zna da bombe loše vraćaju ulaganje i sumnja da će premijer ikada da vrati svoj dug.

Ako on ‘podmiri’ svoj dug, to bi ostavilo 1.200.000 novčanica u opticaju sa samo 1.000.000 unci zlata da bi ih podržalo, obezvređujući njegovu ušteđevinu. Već oseća stisak u džepu zbog porasta cena, i on odlučuje da se uputi u lokalnu banku i preda svoje novčanice i zameni ih za zlato, koje niko ne može da napravi u većoj količini.

Kada penzioner stigne u banku, on zatiče i mnoge druge okupljene oko banke. Svi oni se nadaju da će uzeti zlato koje predstavljaju njihove novčanice. Građani Kejnslanda sa pravom se plaše da njihove novčanice gube na vrednosti – oni to već osećaju zbog porasta cena.

Vrata su zaključana, sa obaveštenjem bankara na njima:

Po nalogu premijera, onom koji se plaši za stabilnost ove bankarske institucije, ova banka više neće podržavati konvertibilnost papirnih novčanica u zlato. Hvala vam!

Gomila se razilazi, ostavljena sa jednim izborom: da zadrže svoje novčanice, koje sada vrede manje od 1 unce zlata. Građani sa dovoljno finansijske stabilnosti odlučuju da ulože svoje novčanice u kupovinu akcija banke i kompanija vojne industrije, koje dobro posluju jer mogu da kupuju stvari pre nego što se povećaju tržišne cene.

Mnogi ljudi nisu u mogućnosti da investiraju – oni moraju da gledaju kako njihove zarade stagniraju i kako njihova ušteđevina polako ali sigurno gubi vrednost.

Penzioner, koji se nadao da će živeti od novčanica koje je zaradio tokom svojih 40 radnih godina, sada 40 sati nedeljno provodi iza kase u lokalnoj prodavnici, pitajući se gde je sve pošlo po zlu.

Dug Nikada Nije Otplaćen

Prošlo je nekoliko godina, a premijerov dug prema banci dolazi na naplatu. Budući da je potrošio svih 200.000 novčanica na bombe, koje nemaju baš dobar povraćaj ulaganja, on nema novčanice koje može da vrati banci. Plus, premijer želi da kupi još bombi za svoj rat.

Bankar uverava premijera da je sve u redu. Bankar će napraviti novi ugovor o dugu za 600.000 novčanica, koji bi trebao da stigne na naplatu u narednih 5 godina. Premijer može da iskoristi 200.000 od tih novih 600.000 novčanica da vrati svoj prvobitni dug prema banci, zadrži još 300.000 da kupi još bombi i da 100.000 bankaru da bi mu platio njegove usluge.

To nastavlja da se dešava – svaki put kada dug dospeva na naplatu, bankar stvara više novčanica za vraćanje starijih dugova i daje premijeru još više novca za trošenje. Ovaj ciklus se nastavlja.

Šta se dešava u Kejnslandu?

• Oni koji prvi dobiju nove novčanice, gledaju kako se njihovo bogatstvo povećava
• To uključuje bankara, premijera, vladu i sve one koji mogu da pristupe mogućnostima za investiranje u preduzeća koja prva dobiju nove novčanice (finansijske, vojne itd.).
• Cene roba rastu
• Cene se ne povećavaju ravnomerno – one se povećavaju gde god nove novčanice prvo uđu u ekonomiju i od tog trenutka imaju efekat talasa na tržišta. U našem primeru prvo raste cena amonijum nitrata, zatim cena pšenice, pa cena hleba. A tek na kraju zarade običnih ljudi.
• Štednja i životni standard opšte populacije se smanjuju
• Najviše pate oni koji žive od plate do plate i ne mogu da ulažu. Čak i oni koji su u mogućnosti da investiraju podložni su hirovima tržišta. Mnogi su prisiljeni da prodaju svoje investicije po niskim cenama tokom pada tržišta samo da bi platili svoje dnevne potrebe.
• Razlika u prihodima i bogatstvu između bogatih i siromašnih se povećava
• Bogatstvo opšte populacije se smanjuje, dok se bogatstvo onih koji su blizu mesta gde se troše nove novčanice povećava. Rezultat je disparitet koji se vremenom samo proširuje.

Da li nas novac danas eksploatiše?

Priča o Njutoniji i stvarna priča o agri perlama u Africi deluju pomalo zastarelo. Priča o Kejnslandu, međutim, deluje neobično poznato. U našem svetu cene robe uvek rastu, i vidimo rekordne nivoe nejednakosti u bogatstvu.

U poslednjem odeljku ovog našeg članka Šta je novac, proći ću kroz nastanak bankarstva i korake koji su bili potrebni da se dođe do današnjeg sistema, gde banke i vlade sarađuju u kontroli ekonomije i samog novca.

Šta su banke, i odakle su one došle?

Pojava bankarstva verovatno se dogodila da bi olakšala poljoprivrednu trgovinu i da bi povećala pogodnosti. Iako su se mnoga društva na kraju konvergirala ka upotrebi zlata i srebra kao novca, ovi metali su bili teški i opasni za nošenje kao tovar. Međutim, u mnogim slučajevima ih nije ni trebalo prevoziti. Uzmite ovaj primer:

Grad treba da plati poljoprivrednicima na selu za žito, a poljoprivrednici gradskoj vojsci za zaštitu od varvara. U ovom dogovoru zlato se kreće u oba smera: prema poljoprivrednicima u selu kako bi im se platilo žito, i nazad u grad da bi se platila vojska. Da bi olakšali ove transakcije, preduzetnici su stvorili koncept banke. Banka je zlato čuvala u sigurnom trezoru i izdavala novčanice od papira. Svaka priznanica je predstavljala potvrdu da njen imaoc poseduje određenu količinu zlata u banci. Imaoc novčanice je u svako doba mogao da uzme svoje zlato nazad vraćanjem te novčanice banci.

Korisnici banke mogli su lakše da trguju sa novčanicama od papira, i onaj koji poseduje novčanice mogao je da preuzme njihovo fizičko zlato u bilo kom trenutku. To je te novčanice učinilo “dobrim kao i zlato”.

Banke su izdržavale svoje poslovanje naplaćujući od kupaca naknadu za skladištenje zlata ili pozajmljivanjem dela zlata i zaračunavanjem kamata na njega. Trgovina na ovaj način je mogla da se odvija sa laganim novčanicama od papira umesto sa teškim vrećama zlatnika.

Ovakva praksa sa transakcijama, korišćenjem papirne valute potpomognute monetarnim dobrima, verovatno je započela u Kini u 7. veku.

Na kraju se proširila Evropom 1600-ih, a svoj zalet dobila je u Holandiji sa bankama poput Amsterdamske Wisselbanke. Novčanice Wisselbank-e često su vredele više od zlata koje ih je podržavalo, zbog dodane vrednosti njihovih pogodnosti.

Uspon nacionalnih ‘centralnih banaka’

Tokom vekova, zlato je počelo da se sakuplja u trezorima banaka, jer su ljudi više voleli pogodnosti transakcija sa novčanicama.

Na kraju, nacionalne banke u vlasništvu vlada preuzele su ulogu čuvanja zlata od privatnih banaka koje su započeli preduzetnici.

Nacionalne papirne valute potpomognute zlatnim rezervama u nacionalnim bankama zamenile su novčanice iz privatnih banaka. Sve nacionalne valute bile su jednostavno potvrde za zlato koje se nalazilo u trezoru nacionalne banke.

Ovaj sistem je poznat kao zlatni standard – sve valute su jednostavno predstavljale različite težine zlata.

U gornjem levom uglu novčanice možete videti da piše da je novčanica “zamenljiva za zlato”. Savremeni dolari nemaju ovaj natpis, ali inače izgledaju vrlo slično. Izvor

Zlatni sistem je postojao veći deo vremena, sve do Prvog svetskog rata. Vladama je bilo teško da prikupe novac za ovaj rat putem poreza, pa su morale da budu kreativne.

Kada vlade troše više nego što zarađuju na porezima, to se naziva deficitna potrošnja.

Kako vlade mogu ovo da urade? Vlade to rade tako što pozajmljuju novac prodavajući svoj dug.

Tokom Prvog svetskog rata, vlade su građanima i preduzećima prodavale vrstu duga koja se naziva ratna obveznica. Kada građanin kupi ratnu obveznicu, on preda svoj novac vladi i dobije papir u kojem je stajalo vladino obećanje da će vlasniku obveznice vratiti novac, plus kamate, za nekoliko godina.

Plakat koji obaveštava građane, tražeći od njih da kupe ratne obveznice – što predstavlja zajam vladi. Izvor

Centralne banke ‘monetizuju’ državni dug

Međutim, građani i preduzeća nisu bili voljni da kupe dovoljno ratnih obveznica za finansiranje Prvog svetskog rata.

Vlade se nisu predale – pa su zatražile od svojih nacionalnih ‘centralnih banaka’ da one kupe ove obveznice. Centralne banke su otkupile obveznice, ali ih nisu platile valutom potpomognutom postojećim zlatnim rezervama, kao što su to činili građani i banke prilikom kupovine obveznica.

Centralne banke su umesto toga davale vladi novu, sveže štampanu papirnu valutu potpomognutu samo obveznicom. Ovu valutu podržalo je samo obećanje da će im vlada vratiti dugove. Ovo je poznato kao monetizacija duga.

Budući da su ratne obveznice i valuta samo komadi papira, one su lake i jeftine za proizvodnju i mogu se napraviti u ogromnim količinama. Ono što ograničava proizvodnju i jednog i drugog je poverenje.

Ima smisla da se neko rastane od svog teško stečenog novca da kupi državnu obveznicu, samo ako veruje da će vlada da vrati svoj dug, plus kamate. Centralna banka je “krajnji kupac”, što znači da će ona da kupi državne obveznice kada to niko drugi neće da uradi.

Zapamtite, centralnu banku gotovo da ništa ne košta da kupi državne obveznice, jer oni sami štampaju valutu da bi ih kupili.

Zamislite da pridjete najskupljem automobilu u autosalonu – koji košta 100.000 USD. Mislite da je automobil lep, ali taj novac biste radije potrošili na lepši stan – tako da ste spremni da platite samo 40.000 USD za taj auto.

Sada, hajde da zamislimo da imate štampač za novac i da vas košta samo 50 USD za mastilo i papir da bi ištampali 1.000.000 USD. Vi biste odmah kupili auto, čak i ako biste morali da se cenkate sa drugim čovekom, i da ga na kraju platite 150.000 USD!

Ista stvar se dešava kada centralna banka kupuje obveznice (dugove) od vlade. Centralna banka može da stvori valutu toliko jeftino, da su spremni da plate i više nego što bi drugi platili ove obveznice i nastaviće da ih kupuju čak i kada niko drugi ne bude želeo.

Monetizacija duga uzrokuje inflaciju

Kada centralne banke monetizuju državni dug, funkcija novca kao zalihe vrednosti počinje da se nagriza. Vlada troši novi novac koji je dobila od svoje centralne banke na ratnu robu, obroke i još mnogo toga.

Cene roba rastu od ove novoštampane valute koja kruži kroz ekonomiju. Kada se cene povećavaju, to znači da se vrednost svake jedinice valute smanjuje. Svi koji drže valutu sada imaju manje vrednosti. Danas to nazivamo sporim gubitkom funkcije zalihe vrednosti u novčanoj inflaciji.

Za Nemačku nakon Prvog svetskog rata monetizacija duga izazvala je totalni slom Nemačke ekonomije i stvorila uslove za rast fašizma.

Kao deo sporazuma o prekidu vatre koji je okončao Prvi svetski rat, Nemačka je pobednicima morala da plati ogroman novac. Nemačkoj vladi je bio preko potreban novac, pa su prodale obveznice (dug) Rajhsbanci, nemačkoj centralnoj banci.

Ovaj postupak doveo je do toga da je vlada štampala toliko maraka (tadašnja nemačka valuta) da je tempo inflacije u Nemačkoj ubrzan u hiperinflaciju početkom 1920-ih. Cena vekne hleba za samo 4 godine popela se sa 1,2 marke na 428 biliona maraka.

Tokom i posle Prvog svetskog rata, SAD, Britanija, Francuska i mnoge druge vlade pratile su Nemačku u štampanju valute potpomognute državnim dugom.

To je dovelo do toga da su građani želeli da svoju papirnu valutu zamene za zlato, baš kao i penzioner iz priče o Kejnslandu.

Međutim, mnoge vlade su suspendovale konvertibilnost svojih valuta u zlato. Ovim potezom vlade su primorale svoje građane da drže nacionalnu papirnu valutu i gledaju kako se njihova ušteda smanjuje u vrednosti.

Da bi mogle da nastave da štampaju novac i da bi ga trošile na nepopularne programe za koje nisu mogle da skupljaju poreze za finansiranje – poput ratova.

Bretton Woods: Novi monetarni sistem

Nakon razaranja koja su donela dva svetska rata, vlade su uspostavile novi globalni monetarni sistem prema Bretton Woods-ovom sporazumu iz 1944. godine.

Prema ovom sporazumu, valuta svake države konvertovala se po fiksnom kursu sa američkim dolarom. Američki dolar je zauzvrat predstavljao zlato po stopi od 35 USD za jednu trojsku uncu zlata*.

Sve globalne valute su stoga još uvek bile jednostavna reprezentacija zlata, putem američkih dolara kao posrednika. Redovni građani više nisu mogli da otkupljuju svoje valute za zlato iz Sjedinjenih Država. Međutim, strane centralne banke mogle bi da dođu u Sjedinjene Države da bi zamenile dolare za zlato po stopi od 35 USD za jednu uncu zlata.

Međutim, vlada Sjedinjenih Država nije uvek držala dovoljno zlata da podrži sve dolare u opticaju. Američka vlada nastavila je da finansira proširene socijalne i vojne programe prodajom državnog duga svojoj centralnoj banci, Federalnim rezervama, koja je povećala ponudu dolara bez povećanja ponude zlata koja podupire te dolare.

*Trojna unca je standardna mera čistog zlata i ima malo veću težinu od normalne unce.

Propast Bretton Woods-a

Tokom 1970-ih, sve veći troškovi rata u Vijetnamu i stranih vlada koje su otkupljivale svoje dolare za zlato, stvorili su pritisak na Trezor Sjedinjenih Država.

Ponuda dolara je porasla, dok je zlato u posedu Sjedinjenih Država opalo. Od 1950. pa do početka 1970-ih, rezerve zlata koje je držala vlada Sjedinjenih Država smanjile su se za više od 50%, sa 20 metričkih tona na samo 8 metričkih tona.

Godine 1970. država je imala zlata u vrednosti od samo 12 biliona dolara po zvaničnom kursu od 35 dolara za trojsku uncu zlata. Tokom ovog istog vremenskog perioda, ukupna ponuda američkih dolara otišla je sa oko 32 biliona USD na skoro 70 biliona USD.

Zvanične rezerve zlata u SAD-u su naglo padale od 1950. do 1970. godine, dok su se dolari u opticaju povećavali. Izvor: Wikipedia, DollarDaze.org

Američka vlada nije bila u stanju da potkrepi dolare zlatom od 35 dolara po trojnoj unci, što dovelo do rizika za čitav globalni monetarni sistem.

Početkom sedamdesetih godina, trojna unca zlata trebala je da vredi 200 USD da bi u potpunosti podržala sve američke dolare u opticaju. Rečeno na drugi način, Sjedinjene Države su pokušavale da kažu svetu da jedan dolar vredi 1/35 trojne unce zlata, ali u stvarnosti dolar je vredeo samo 1/200 trojne unce.

Kad su strane vlade trebale da pribave dolare za međunarodnu trgovinu i rezerve, bile su opelješene. Francuska vlada je to shvatila šezdesetih godina prošlog veka i počela je da prodaje svoje američke dolare za zlato po zvaničnom kursu od 35 dolara za trojsku uncu zlata.

Zemlje su počinjale da se bude iz šeme američke vlade. SAD su krale bogatstvo putem emisione dobiti, prodajući dolare za 1/35 trojne unce zlata, kada su vredeli samo 1/200 trojske unce.

Nixonov Šok ulazi u ’tradicionalni’ novac

Da bi kuća od karata mogla da ostane na mestu, predsednik Nixon je 1971. najavio da će američka vlada privremeno da obustavi konvertibilnost dolara u zlato.

Strane vlade više nisu mogle da polažu pravo na zlato svojim papirnim dolarima, a dolar više nije bio “poduprt” zlatom. Nixon je tvrdio da će ovo stabilizovati dolar.

50 godina kasnije, kristalno je jasno da je ovo samo pomoglo dolaru da izgubi vrednost i da ovaj “privremeni” program još uvek traje.

Pre 1971. godine, sve globalne valute bile su vezane za američki dolar putem Bretton Woods-ovog sporazuma. Kada je Nixon promenio američki dolar iz dolara podržanog u zlatu u dolar podržan dugom, ovim je promenio i svaku drugu valutu na Zemlji.

Sam je učinio da se celokupna svetska ekonomija zasniva na dugovima. Valute više nisu predstavljale zlato, već su predstavljale vrednost državnog duga.

Zlatni Standard se nikada nije vratio

Konvertibilnost američkih dolara u zlato – zlatni standard – nikada se nije vratio.

Od 1971. godine, čitav globalni monetarni sistem pokreće se tradicionalnim “fiat” valutama: poverenjem u vladine institucije da održavaju valutni sistem.

Većina valuta podržana je kombinacijom duga njihove vlade i drugih tradicionalnih valuta poput dolara i evra. Papirne valute više nisu podržane zlatom, imovinom koja je više od 5000 godina služila kao težak novac.

Danas vas vlade prisiljavaju da plaćate porez u njihovoj valuti i manipulišu saznanjima oko novca kako bi osigurale da potražnja za njihovom valutom ostane velika.

To im omogućava da neprestano štampaju više valuta, da bi je potrošili na vladine projekte, uzrokujući inflaciju cena koja jede i smanjuje bogatstvo i plate.

Američka vlada sada prodaje državne obveznice (dugove), poznate kao obveznice Trezora SAD, eng. US Treasuries, komercijalnim bankama u zamenu za američke dolare.

Vlada koristi te dolare za finansiranje svog budžetskog deficita. Komercijalne banke prodaju mnoge obveznice Trezora SAD, koje su kupile, američkoj centralnoj banci, Federalnim Rezervama.

Federalne rezerve plaćaju komercijalnim bankama sveže štampanim novcem “pomoću računara i upisivanjem količine na račun”, kako je rekao bivši predsednik Fed-a Ben Bernanke.

Ove komercijalne banke često zarađuju samo kupujući obveznice Trezora SAD od države i prodajući ih centralnoj banci. Kupujte nisko, prodajte visoko.

Centralne banke ovaj proces kupovine državnog duga – odnosno pozajmljivanja novca državi – nazivaju operacijama otvorenog tržišta.

Kada centralna banka odjednom kupi velike iznose duga, oni to nazivaju kvantitativnim ublažavanjem. Centralne banke javno najavljuju kupovinu državnog duga, ali vrlo malo ljudi razume šta to zapravo znači.

Euro, jen i svaka druga valuta koja se danas koristi funkcionišu slično kao američki dolar.

Da li će SAD ikada vratiti svoj nacionalni dug? Neobična stvar u vezi sa državnim dugom SAD-a je ta što vlada poseduje štampariju potrebnu za njegovu otplatu.

Kao rezultat toga, kada vlada duguje novac, oni samo pozajme još više novca da bi otplatile taj dug, povećavajući nacionalni dug.

Ako vam ovo zvuči kao Ponzijeva piramidalna šema, to je zato što ona to i jeste – najveća Ponzijeva šema u istoriji. Kao i svaka Ponzijeva šema, nastaviće se sve dok su ljudi koji kupuju Ponzijevu šemu budu uvereni da će im biti plaćeno nazad.

Ako ljudi i nacije prestanu da se zadužuju i koriste američke dolare jer nemaju poverenja u američku vladu ili vide da cena robe raste (tj. dolar postaje sve manje vredan), potražnja za dolarom će opadati, što će izazvati začaranu spiralu.

Ova spirala često završi u hiperinflaciji, kao što smo videli u novijoj istoriji sa Jugoslavijom, Venecuelom, Argentinom, Zimbabveom i mnogim drugim državama.

Ovo je način kako funkcioniše novac na vašem bankovnom računu. Novac svake nacije na svetu pati od istih problema kao i perle i novčanice u pričama o Njutoniji i Kejnslandu.

Kako banke i vlade kradu tvoj novac?

Tokom vekova, stigli smo do monetarnog sistema u kojem banke i vlade mogu da štampaju novu valutu za finansiranje svojih operacija i svojih prijatelja u zločinu, dok kradu bogatstvo svojih građana.

Šta će se desiti sa svetom kada novac bude mogao da štampa svaki narod na planeti?

• Bogatstvo onih koji su blizu pravljenja nove valute se povećava
• Vlada i politički povlašćena klasa ljudi, imaju pristup novoštampanom novcu pre svih ostalih, pa mogu da ga potroše pre nego što cene porastu. Na ovaj efekat pokazao je ekonomista Richard Cantillon sredinom 1700-ih i poznat je kao Cantillonov Efekat.
• Cena robe raste (poznato kao inflacija)
• Ne raste sve roba istovremeno u ceni. Roba blizu mesta gde se proizvodi nova valuta – finansijski sektor i vlada – prva raste, i odatle uzrokuje efekt talasa na cene.
• Inflacija se često predstavlja kao promena cene potrošačke korpe, poznata kao Indeks Potrošačkih Cena, eng. Consumer Price Index (CPI). Vlada ima alate za manipulisanje ovim brojem kako bi osigurala da se ona čini niskom i stabilnom, kao što je objašnjeno u našem članku o inflaciji.
• Finansijska imovina često primećuje ogromnu inflaciju, ali bankari to ne nazivaju inflacijom – oni kažu da naša ekonomija cveta! Nakon što su američke Federalne rezerve učetvorostručile ponudu američkih dolara u šest godina nakon finansijske krize 2008. godine, banke koje su dobile te nove dolare, kupile su akcije i obveznice, stvarajući ogroman balon u cenama ove imovine.
• Štednja i životni standard stanovništva se smanjuju
• Plate su jedna od poslednjih “cena” u ekonomiji koja se prilagođava, jer se često povećavaju samo jednom godišnje. U međuvremenu, cene dnevnih potrepština te osobe koja zaradjuje platu neprestano rastu kako novi novac kruži ekonomijom.
• Najviše su pogođeni oni koji žive od plate do plate – a to je 70% Amerikanaca.
• Razlike u prihodima između bogatih i siromašnih se povećavaju, kao što se vidi na grafikonu ispod.

Koncentracija Dohotka na Vrhu Naglo je Porasla od 1970-ih (Udeo u ukupnom prihodu pre oporezivanja u domaćinstvima sa najvišim dohotkom (uključujući kapitalne dobitke), 1913-2018)

Zašto i dalje imamo isti monetarni sistem?

Ako ovaj sistem bogate još više obogaćuje, a siromašne još više osiromašuje, dovodeći do političke nestabilnosti, zašto ga onda ne bismo promenili?

Najveći razlog zašto se ništa ne menja je verovatno to što puno toga ne znamo o samom sistemu. Svi svakodnevno koristimo valute svojih vlada, ali većina nas ne razume kako sistem funkcioniše i šta on čini našim društvima.

Obrazovni sistem, mediji i finansijski stručnjaci neprestano nam govore da je monetarni sistem previše komplikovan da bi ga normalni ljudi razumeli. Mnogi od nas se zato i ne trude da pokušaju.

Još nekoliko razloga zašto ovaj sistem nastavlja da opstaje:

• Mnogo je ljudi koji imaju direktnu korist od štampanja novog novca.
• Ti ljudi ne žele nikakve promene i bore se da zadrže tu moć.
• Nacionalne valute su često pogodne
• Kreditne kartice, online bankarstvo i još mnogo toga čine upravljanje nacionalnim valutama i njihovo trošenje lakim i jednostavnim.
• Građani moraju da plaćaju porez u svojoj nacionalnoj valuti
• To stvara potražnju za tom valutom od svih građana, povećavajući njenu vrednost.
• Glavna međunarodna tržišta, poput nafte, denominirana su u dolarima.
• Nafta je potrebna svakoj zemlji na planeti, ali pošto mnogi ne mogu da je proizvode, moraju da je kupuju na međunarodnim berzama. Od 1970-ih na ovim berzama gotovo sva nafta se prodaje za dolare, što stvara potražnju za dolarima. Da bi se odmaknule od ovog sistema, zemlje bi trebale da pronađu novu valutu ili robu za trgovinu naftom, što zahteva vreme i rizike.
• Nije postojala dobra alternativa
• Uz globalnu ekonomiju u realnom vremenu, naš sistem digitalnog bankarstva koji koristi nacionalne valute je pogodan. Transakcija u tvrdom novcu poput zlata bila bi previše nezgrapna za današnji svet. Digitalna valuta pod nazivom Bitcoin, predstavljena 2009. godine, je rastuća alternativa koja nudi čvrst novac koji se kreće brzinom interneta.

Šta je novac, i zašto trebate da brinete?

Novac je alat koji olakšava razmenu dobara. Kao i svako drugo dobro, novac se pridržava zakona ponude i potražnje – povećanje potražnje povećaće njegovu vrednost, a povećanje ponude smanjiće njegovu vrednost.

Na ovaj način novac se ne razlikuje od kuće ili piletine. Međutim, velika prodajnost novca znači da je potražnja za njim uvek velika. Kao rezultat, novac mora biti težak za proizvodnju (a samim tim i ograničen u ponudi) ili će ga onaj ko ga može napraviti, stvoriti toliko, da vremenom više neće služiti kao zaliha vrednosti. Uskoro će izgubiti svoje funkcije kao sredstvo razmene i obračunske jedinice.

Najbolji novac u datoj ekonomiji je onaj koji se najslobodnije kreće – svi ga žele, lako je obaviti transakcije sa njim i koji sa vremenom dobro drži svoju vrednost. Nijedan novac nije savršen u svemu ovome, a neki ističu jednu funkciju novca na štetu drugih.

Iako se istorija ne ponavlja, ona se rimuje, a usponi i padovi monetarnih sistema imaju jasne ritmove. Uspon i pad monetarnog sistema često sledi opšti obrazac koji smo videli u pričama o agri perlama i Kejnslandu: pojavljuje se odredjenji oblik novca koji pomaže ljudima da efikasnije trguju i štede, ali na kraju gubi na vrednosti kada neko shvati kako da ga jeftino stvori u velikoj količini. Međutim, tokom dugog perioda vremena, monetarni sistemi su se poboljšali u sve tri funkcije novca.

Na primer, zlato je tokom vremena dobro služilo kao zaliha vrednosti. Međutim, naša međusobno povezana ekonomija ne bi mogla efikasno da funkcioniše ako bi trebalo da fizičko zlato zamenimo robom i uslugama. Mnogo je lakše kretati se na papirnom i digitalnom novcu, ali istorija nam govori da su vlade i bankari iskoristili ove oblike novca za krađu bogatstva putem inflacije.

Današnji globalni monetarni sistem je vrlo zgodan, a digitalna plaćanja i kreditne kartice olakšavaju trošenje novca. Ovo skriva stalnu inflaciju koja nagriza vrednost svake jedinice novca i dovodi do sve većeg jaza u bogatstvu.

Nadam se da je ovaj članak proširio vaše razumevanje novca i njegove uloge u društvu. Ovo je samo početak svega što treba istražiti o novcu: za kasnije su sačuvane teme o inflaciji, kamatnim stopama, pozajmljivanju, poslovnim ciklusima i još mnogo toga.

Efikasnija Ušteda Novca

Možda se pitate kako zaštititi svoju štednju kada svaki oblik često korišćenog novca i investicija pati od inflacije ponude – koja umanjuje vrednost i prenosi bogatstvo onima koji mogu da stvore novac ili investiciju. Možda se čini da se ništa na planeti danas ne može kvalifikovati kao ‘težak’ novac, ali dve stvari ipak ostaju: zlato i njegov noviji rođak Bitcoin. Obe ove stvari je neverovatno teško proizvesti, a jedna od njih se kreće brzinom interneta i može se čuvati u vašem mozgu.

Ako želite da saznate više o Bitcoin-u kao sredstvu za zaštitu vaše ušteđevine, pročitajte ovde. Ako ste već spremni za kupovinu Bitcoin-a, pogledajte moj vodič za kupovinu Bitcoin-a. Možete početi sa investiranjem sa samo 5 ili 10 €.

Zasluge

Hvala svima koji su pomogli u izradi i uređivanju ove serije o novcu: @ck_SNARKS, @CryptoRothbard, Neil Woodfine, Emil Sandstedt, Taylor Pearson, Parker Lewis, Jason Choi, mojoj porodici i mnogim drugima.

Hvala svima koji su ovo inspirisali i razvili ključne ideje koje su ovde primenjene: Friedrich Hayek, Carl Menger, Ludwig Von Mises, Murray Rothbard, Saifedean Ammous, Dan Held, Pierre Rochard, Stephan Livera, Michael Goldstein, i mnogi drugi.

Molim vas da šerujete! Ako vam je ovaj članak otvorio oči o tome kako funkcioniše naš novac i finansijski sistem, kontaktirajte me ili ostavite komentar!

Ako vam se sviđa moj rad, molim vas da ga podelite sa svojim prijateljima i porodicom. Cilj mi je da svima pružim pogled u ekonomiju i na to kako ona utiče na njihov život.

@ 472f440f:5669301e

Marty's Bent

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

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

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

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

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

Make some noise!

Bitcoin Adoption by Power Companies: The Next Frontier

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

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

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

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

Headlines of the Day

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

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

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

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

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Final thought...

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

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@ bf47c19e:c3d2573b

"Za sve one koji još uvek nisu u potpunosti razumeli kontroverzni Bitkoin, ovo je koncizni i informativni brzi kurs o novcu i kriptovalutama."

Bitkoin: Kraj novca kakvog poznajemo - IMDB

Prevod: SatoshiSan / @SSG_SatoshiSan

@ 6ad08392:ea301584

Satlantis is here!

Well…sort of. It’s a little pre-mature, but it’s good enough for you to play around with. I wouldn’t necessarily call it super ‘useful’ right now but I wanted you to get an early glimpse into what we’re building so you can see how it evolves over time.

And besides - we have to release a first version at some stage!

Satlantis is the first travel-centric social network. It’s quite different from anything else that came before it. It’s part map, part directory, part events app and part social network. 

It really is a monumental undertaking - but I’m convinced now is the time to build it. People are ready for something new. They are tired of the algorithmic slop social media has become. They’re craving real connection and they want to see, touch, smell, hear and taste the world. What better way to help them do that, than with a network that connects them, andhelps enhance their discovery of places, experiences and events that are relevant to them (based both on their interests and social connections).

That’s what this product is all about. We’re going to do what Google Maps, Yelp, Instagram, TripAdvisor etc. are all partially doing - but make it 10x better.

The first Satlantis app is now available on Apple Testflight or the Google Play store. In the coming month or two, we will make Satlantis accessible via invitation-only, to increase the quality of connection and discourse on the app, but if you’re reading this now, you’re in before we gate it, you can explore and give us some feedback while we work on it.

I will write release notes like this every couple weeks covering what we built, what to test and play with, what’s working, what needs improvement, what’s downright shit or broken and what’s coming in the next release. (This first one is the longest because I delayed it so much.)

I’d love to hear your feedback, and if you find this interesting, please share it around so other people find out about what we’re building!

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The Good

Mobile AppWe got a version out, and you can actually use it.

• Apple Testflight 

• Google Play Store

Nostr Compatible.

Every single account on Satlantis is an nPub. You can log into Satlantis using your nSec (not your nPub - we forgot to include that...lol), and you will find your entire social network and all of your posts there (if they are media notes). On the Web, you need to use an extension, like Alby or Keys.band. On mobile you can paste your key (stored locally on the device).

Normie Friendly.

We also built a smooth non-nostr focused sign up flow. We originally used the nSec bunker, but that was a mess (love u Pablo). So we built our own nSec bunker, but that sucked too. Passwords are old school. After interviewing 100 people not into Bitcoin or Nostr, 95% of them preferred us to store their key. So…we took that feedback and created a really easy email + magic link, Google and Apple SSO sign up flow, that creates an account and Nostr keypair that we store on their behalf, encrypted.

If and when people work out what Nostr is and they want to take custody of their key, they will be able to export their key, and request deletion of their key from our DB. 

Is this the most ‘pure’ solution? No. Does this mean they have to trust us? Sure. Could we do it better at some point? Yes, of course. But considering the number of mission critical features we need to build, we’ll come back to it later.

We currently only support Kind 1 events.

Well…we also support NIP-52 calendar events, but we’ve disconnected that for the time being because event organisers wanted co-hosts more than they wanted to broadcast their events on Nostr. We’re working on a way to reconcile the two. For now, post text & images. (Video coming soon).

Interest-centric onboarding.

We spent a lot of time building this. One of the key pillars at Satlantis is discovering people, places, events and content suited to you. As we dug down the personalisation rabbithole, we found that there is a resurgence of interest-selection in many apps: from Tinder to new apps like Locals and Timeleft. The more focused on personalisation the app is, the more in-depth the onboarding.

Of course Meta and TikTok do the best personalisation with their advanced ML & AI tools, along with their deep social graphs, but since we have neither (Nostr helps but it’s still very small), we needed a better way.

So we decided to build our interest-graph. It was brain-melting, but we developed a pretty exhaustive set of interests relevant to people in our target market. We then took that list and associated it to events, merchants, people, places, experiences, activities and content. We then built a whole new onboarding flow to capture this from new users, and associate it to their accounts. (Yes - at some stage, we’ll make this Nostr compatible so it can travel with nPubs)

The net result is a base layer of insight we can use to help surface things that are of interest to users. Whether it’s an event, a place to eat, a gym or sauna, content to engage with or people to meet: like magic, things that are relevant to you will come to you.

Of course, in the long term we will use your social graph and the way you interact with content to do this - more like Meta and TikTok do - but for now, while the social graph is tiny, this is the most efficient and effective way. 

Final word: the current version has all the interests - but it’s not very user-friendly. The latest design fixes that by grouping the interests into better subcategories. Keep an eye on that in a subsequent release.

New Merchant Discovery Experience.

This was also a monumental task. Our first merchant experience was just a shitty map with a list on web, and just a list on mobile (see below). This list was ranked by an “aggregate rating” we computed by analysing all the venue’s ratings from apps like Google, Trip Advisor and more.

We spent a long time trying to figure out how to display this better and do it in a way nobody else is, because seriously -can you think of a single food app or merchant map out there which has a nice UI or UX? No.

AirBnB transformed the UI & UX for accommodation and pushed the whole space forward. Nobody has really done it for every other kind of place you go to. So we took it up ourselves to fix this and create a proper “merchant discovery experience” with an information-dense location tile. Check this out:

Notice how we managed to get all the key information you need about a place there on the one tile, including who in your social circle has recommended it. That’s the key ingredient which makes Satlantis special. No more messaging friends or people you know “hey - have you been to that place” or “do you recommend that place”? 

One small issue here is that this upgrade will kill the map…but only for a couple weeks, until we release the new map view!

Merchant coverage

Our merchant app covers SIX distinct categories: 

1. Cafes & Restaurants

2. Health & Wellness (think Gyms, Spas, Saunas, etc)

3. Attractions (from Museums, to lookouts to beaches & hikes)

4. Grocery & Specialty Foods (think Organic food store, farmers markets, etc)

5. Coworking & Event Spaces

6. Nightlife (Bars, Clubs, etc)

We scoured the web for the best curated lists and directories for each of these categories. This in Bitcoin accepted (everything relevant from BTCMaps - because we’re also built on Open Street Maps, so it’s synced up), Seed Oil Free (everything from Local Fats & Seed Oil Scout is here), Michelin Star rated, Real Milk (Raw Milk directory) and more. 

Alongside all of these directories, our network of local ambassadors have submitted their top local picks for their favorite cities, so you have real local recommendations. 

The destinations with the best maps are currently Canggu, Uvita, Prague, Sao Paulo, Dubai, Florianópolis.

Suggest Places & Merchants

This is working quite nicely. Anyone, anywhere can now suggest their favorite merchant. For now, we’re manually approving submissions daily to avoid spam and irrelevant shit. In time, we’ll find a better way to do this. 

It’s all plugged into the Google API, so you can just type in the name of the place you think should be added (from mobile or web here). Once approved, our AI pipeline goes to work gathering all the available data from Google, TripAdvisor and elsewhere to set up the merchant profile, complete with review summaries, images, profile bio, contact details, opening hours, tags and more.

Got more upgrades to this flow in the works, but it’s ready for you to try out now.

City Pages

The current city pages are part of an outdated design which doesn’t fit our new visual language, but they are a ‘live’ feature. The original idea was to blend elements of Pinterest and Instagram but it backfired so we are changing to a more slick one-column feed. That being said, the core features of the city pages work. You can:

• Join a city (like joining a community or following the page)

• Post content on the city page

• Navigate over to the different available pages, including merchants, events, scores and stats + facts

We have 80 cities currently available. More to come.

Scores, Stats & Facts

When we set out to first build Satlantis, we wanted to improve on the information NomadList was presenting for cities & destinations around the world. So we developed a different approach for city scoring based not only on data we could get from Numbeo, etc - but also information direct from people on the ground - in particular; expats and locals. 

We put together a set of score categories and created a dedicated survey for select people to fill out, which would create some “foundation” scores, with a view to have this survey available to the crowd, perhaps via a score voting system or some sort on the page. We haven’t got that far yet. Right now, we have foundation scores for each of those 80 active cities, along with key Stats and Facts, like cost of living, wifi speed, water drinkability, and more:

This is not a core feature for us, so we will look to partner with other providers to enhance the experience, or we’ll completely re-think how we’re going to do it. Stay tuned for more here and let me know if you find it useful at all right now (or not).

Events

Last but not least, we have events! God dammit this was annoying because we built it NIP-52 compatible in the beginning, which then limited what we could do with co-hosts and other essential event features. And all for nothing since there are no other well built or maintained calendar-event clients on Nostr anyway.

So right now, when you post an event on Satlantis, it will post only on Satlantis. This means that as a host, you can edit, add co-hosts, add locations (proper merchant tiles) and delete.

We will make this Nostr-compatible again, most likely with some sort of button for hosts to “broadcast this event to Nostr” - knowing they will lose some flexibility once they do - but we need to do more research here. Maybe we’ll propose an upgrade to the calendar event NIP (or propose a new NIP altogether). It’s on our roadmap, so we’ll do our best to get to it soon. 

Meetup integration.

We’ve been working with the Meetup API to let organizers quickly import their events into Satlantis. It’s been frustratingly complex because of how archaic they are, but we got it working!

🚀 If you run a Meetup, and want to automatically have your events listed on Satlantis when you list them on meetup,reach out! We’ll even cover the Meetup membership fee for 10 meetup groups who set up auto-importing for their events. If you’re interested, reach out to us.

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The Bad

These things are currently bad, broken, incorrectly built or buggy. Believe me, if the list was exhaustive, this essay would be a book (our internal list is very full) - so I’m just going to touch on the main things we’re aware of and will be fixing…or just letting it burn slowly while we put out other fires.

Personal content feed

We started Satlantis with a media-only approach, taking inspiration from Instagram. We changed course a couple months ago to support text only posts, realizing there were a lot of other things people would like to post about travel, for example: guides, restaurants, reviews, tips, events, instructions, recommendations.

So…we started supporting this on the feed, and in the “post content” flow - but of course, not yet supported in the Profile view (which is still an image grid). This means if you post text only, you’re not going to see your own post on Satlantis 🤣🤣

To fix this, we’re building a “personal feed” section on your profile. But…that will come after we polish some of the things above, so if you’re posting on Satlantis right now, photos please!!

Video content

This one hurts too. We currently neither render videos from other clients, nor do we support video uploads on Satlantis. Not because we don’t want to, but because we haven’t got to it. This is high on the priority list and will be fixed in the upcoming releases.

Settings & Edit profile

We forgot to add “edit username” 🤣 

This is being added now, along with a settings section where you can get your nPub and things like that. We’ll keep it very basic for now.

Notifications

Holy crap. These really suck. There is no other way to put it. The design is not great, the experience is buggy as hell and syncing notifications from the broader Nostr network doesn’t make life any easier. We’ll be making incremental improvements here (for a long time I guess).

Limited social graph functionality.

Right now, there’s not much social-dynamics beyond the feed. This will expand and begin to influence more than just content, but also merchants, events, people, activities, etc.

Speed issues.

Feed and profile loading times are sluggish and need performance improvements. Ongoing.

Large Destinations are problematic.

How do you rate a massive city like São Paulo as a single entity? Well….you can’t. Eventually, we’ll break major cities into regions, but that’s a big project for later. 

For now, when you see scores, stats and facts, assume we’re covering the most relevant traveler-friendly areas (e.g., Jardins in São Paulo, Palermo in Buenos Aires, etc).

---

The Ugly

There is really only one new ‘feature’ to complete before we apply a feature freeze and continue on to polish everything. This and the other items listed will be available in the next release or two, so that the overall experience is a little more…beautiful.

Chat.

We wanted to do NIP-17, but considering that (a) most of the major apps are still NIP-04, (b) BTCPrague is around the corner and (c) limited resources, we chose to do a NIP-04 implementation for this first version. Not ideal, but good enough. Chat will continue to improve, not only with a NIP-17 upgrade, but with other features like chat folders, group chats, GIFs and more.

Polish List

• Merchant Experience: Web and mobile updates

• Merchant List: More cool places being uploaded

• Events: New display, RSVP flow, co-host notifications, merchant integration

• Onboarding: Updated interests tags & flow

• Scores: Updates to Cost of Living & overall score weights

• Notifications: A lot of improvement here

• Feed: Text only posts, video uploads & rendering videos from other clients

• City Page: New design and functionalities

• Zaps: Yes. We will have Zaps.

---

Final Words

We have our work cut out for us!

We will be at BTCPrague in June and we are committed to releasing all of these features and components by then…as polished as possible.

The team and I have a couple of asks:

1. Download the app, and either create a new account or if you’re on Nostr, log in with your existing Nostr key (web requires an extension like Alby)

2. Go through the interests, and select those that are most relevant to you. The magic of the app happens as a function of how accurately you select those.

3. Post some content! Could be a photo introducing yourself or a “Good Morning” or whatever. Make sure you tag @Satlantis or @Svetski and I’ll boost you.

4. Check out the merchants in the top cities & see what’s around. The city with the most merchants right now is Florianopolis, but we have some coverage in many other cities 

5. If you run a meetup or attend a regular Bitcoin meetup, let the organisers know, and let’s start to bring meetups and events across. Not asking anyone to ‘leave’ meetup now, but come and sync up your account so events are auto-published. \ As we make the events feature more robust (and Bitcoin native), every Bitcoin meetup in the world is going to want to come use this. If you’re early, you can help us shape it!

6. Let a couple of friends know about the app - ideally those who are not yet on Nostr - and ask them to try it out. They can sign up with email or SSO if they’re afraid to store their own key.

7. Like I said in the beginning, at some point in the next month or so, it will become an invite-only app. We will grandfather all existing users in, but new people will need an invite code (from existing users or via codes I drop into release notes and articles) to access it. \ \ The goal of this approach is to (a) increase the quality of connection amongst people on Satlantis, and (b) try a new way of growing a Nostr-based app.

8. Finally…we’ve decided to do an equity crowdfund. So if you find what we’re doing interesting and want to be a part of it, you’ll have a chance from June onwards. More to follow on this in the coming weeks. It will be on Timestamp Financial - Bitcoin crowdfunding platform - so go check them out.

Thank you again for your attention - I do not take it lightly. This is just the start, so expect to see ALOT more from us in the way of updates and shipping (plus these updates will be shooter). 

Make sure you subscribe to this newsletter if you’re reading on Substack, or follow me if you’re on Nostr, Medium or wherever else you’re reading it.

Aleksandar Svetski

---

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When the app goes into “Invite Only” mode, you will need a special invite code to access it, unless you’ve already got an account. For now, it’s open access. 

If you're already on Nostr, you're already on Satlantis. Just use an extension to securely log in with your nSec (on web), or with your nSec on mobile.

@ 6c05c73e:c4356f17

Já pensou em investir no Brasil, mas se sentiu intimidado pela volatilidade da Bovespa e as notícias de escândalos? E se eu te dissesse que existe uma maneira de expor seu portfólio ao mercado brasileiro, investindo em dólar, diretamente da bolsa de valores de Nova York?

Bem-vindo ao mundo do EWZ, o ETF (Exchange Traded Fund) que replica o índice MSCI Brazil 25/50, oferecendo uma janela para as maiores e médias empresas do Brasil. Se você está buscando diversificar seus investimentos e explorar mercados emergentes, o EWZ pode ser a sua resposta.

O Que Exatamente é o EWZ?

O EWZ é o ticker symbol do iShares MSCI Brazil ETF. Pense nele como um pacote de ações brasileiras negociado na bolsa de valores americana. Ele espelha o desempenho do índice MSCI Brazil 25/50, o que significa que, ao investir no EWZ, você está, indiretamente, investindo em uma cesta diversificada das principais empresas do Brasil.

Por Que Investir no Brasil via ETF?

Você já pensou em investir no Brasil? Mas ouve sempre falar desses riscos da Bovespa e vários escândalos?

Portanto, saiba que existe uma forma de investir no Brasil em dólar. Usando a bolsa de valores de Nova Iorque. Isso mesmo, você pode abrir uma conta em corretora estrangeira e investir no Brasil via ETF.

O ETF que replica a Bovespa (Bolsa de valores de São Paulo) é o EWZ. Esse índice replica o Ibovespa e reflete nele o peso das maiores empresas brasileiras, tais como:

• Diversificação em Dólar: Invista em empresas brasileiras sem precisar se preocupar com a flutuação do real. Seus investimentos são feitos em dólar, protegendo você das variações cambiais.
• Acesso Facilitado: Negocie o EWZ diretamente da sua corretora americana, sem a necessidade de abrir contas no Brasil ou lidar com burocracias locais.
• Diversificação Instantânea: Ao comprar EWZ, você está comprando uma fatia de várias empresas líderes no Brasil, reduzindo o risco de concentrar seus investimentos em uma única empresa ou setor.

Números Que Falam Por Si

Vamos aos dados concretos que mostram a solidez do EWZ:

• Taxa de Administração: 0.59% a.a.
• Patrimônio Líquido Sob Gestão: $3.6 bilhões em ativos. Isso indica uma boa popularidade do ativo.
• Volume de negociação diário: Em média $24 milhões, o que garante boa liquidez e baixas taxas.
• Dividendos: 7.33% a.a. Distribuído semestralmente.

Qualitativo

• Com mais de 200 milhões de habitantes, o Brasil tem um dos maiores mercados consumidores do mundo. Isso representa uma demanda interna robusta e potencial para uma vasta gama de produtos e serviços.
• O país é extremamente rico em recursos naturais, incluindo minérios (ferro, bauxita, etc.), petróleo, gás natural e vastas áreas agricultáveis. Além disso, tem um potencial enorme e já desenvolvido em energias renováveis (hídrica, solar, eólica, biomassa).
• O Brasil é um líder global na produção e exportação de diversos produtos agrícolas (soja, milho, café, açúcar, carne bovina, frango). Há contínuo potencial para ganhos de produtividade e agregação de valor na cadeia.
• O Brasil desenvolveu um ecossistema de startups vibrante, especialmente no setor de fintechs, onde é referência global em inovação (ex: Pix, Open Banking). Há também crescimento em agrotechs, healthtechs e outras áreas. O grande mercado consumidor digital impulsiona esse setor.

Técnica

• O ativo teve uma queda vertiginosa. No entanto, desde Dezembro de 2024 vem apresentando uma melhora no comportamento. Isso, pode sugerir que há uma boa margem para comprar com "desconto". Visto que, o volume comprador tem sido intenso desde o inicío de Abril de 2025.

FAQ

O que significa a sigla EWZ?

A sigla EWZ é o ticker symbol (código de negociação em bolsa) do iShares MSCI Brazil ETF.

Portanto, EWZ não é uma sigla de um nome por extenso, mas sim o código usado para identificar e negociar este fundo específico (ETF) nas bolsas de valores dos Estados Unidos (como a NYSE Arca). Este ETF busca replicar o desempenho do índice MSCI Brazil 25/50, que representa as maiores e médias empresas brasileiras.

Qual é a composição do EWZ?

AS 10 Maiores Posições (na data de hoje):

1. Nu Holdings (NU): \~9.3% - 9.8% (Setor Financeiro)
2. Vale (VALE3): \~8.5% - 9.5% (Setor de Materiais)
3. Itaú Unibanco (ITUB4): \~7.9% - 8.6% (Setor Financeiro)
4. Petrobras PN (PETR4): \~6.2% - 8.0% (Setor de Energia)
5. Petrobras ON (PETR3): \~5.5% - 7.3% (Setor de Energia)
6. WEG (WEGE3): \~3.9% - 4.2% (Setor Industrial)
7. B3 (B3SA3): \~3.4% - 3.7% (Setor Financeiro)
8. Banco Bradesco (BBDC4): \~3.0% - 3.6% (Setor Financeiro)
9. Ambev (ABEV3): \~2.9% - 3.4% (Setor de Consumo Essencial/Staples)
10. Sabesp (SBSP3) ou Eletrobras (ELET3): Geralmente na 10ª posição, com peso entre \~2.5% - 2.8% (Setor de Utilidade Pública)

Sobre nós

Investir não precisa ser um bicho de sete cabeças! Na Threedolar, democratizamos o acesso ao mundo dos investimentos, oferecendo conteúdo claro e prático. Comece hoje mesmo a construir seu futuro financeiro!

Disclaimer

Nada do que eu escrever aqui é recomendação de investimentos ou chamada para compra e venda. Tire suas próprias conclusões e veja o que é melhor para você. Resultados passados não são garantia de resultados futuros. Cuide do seu dinheiro, pois ninguém o fará para você.

Referências

iShares MSCI Brazil Capped ETF

Google Finance - EWZ

Yahoo Finance - EWZ

@ 51faaa77:2c26615b

My goal is to share a concise list of questions about OP_RETURN limits that we've answered on Stacker News, as the original thread has become unwieldy with over 200 comments. We began compiling this list about a week ago. I've frequently shared individual links and received very positive feedback. I hope this resource helps us work from a common set of facts and reduces misinformation. I hope you find this as a valuable resource.

I'll list the questions in order of activity and tips received. I've removed duplicates, rephrased some statements as questions, and ignored completely irrelevant questions.

1. Users should be given clear configurable options to decide what's in their mempool, why were these options taken away? link
2. Won't spammers abuse large OP_RETURNs to bloat the blockchain and make IBD take longer? link
3. A similar PR was proposed by Peter Todd 2 years ago, why was it rejected then? What has changed since then, why would this get approved now? link
4. Shouldn't we be fighting spam, why are we making policies less strict, shouldn't we be making them more strict? link
5. How would someone get around the standardness policy currently for OP_RETURN size? link
6. What does "standardness mean" in reference to OP_RETURNs? link
7. Will more than 1 OP_RETURN per transaction be possible if this PR gets merged? link
8. What are the current OP_RETURN limits and what restrictions are being lifted? link
9. Are current relay and mempool policies effective for filtering out spam transactions? link
10. Is it true that this type of update could affect Bitcoin's decentralization? link
11. Is it possible to stop the abuse of payment outputs (i.e., bare multisig, fake pubkeys, and fake pubkey hashes) that are used to embed data, thereby creating unprunable UTXOs that bloat the UTXO set? link
12. What was the main reason /concern to add this PR? ... What will happen if we do nothing? link
13. If OP_RETURN still cannot stop all the garbage, why is so important to remove it? Does it affect future development / improvements for LN? link
14. What will be the worst case scenario if users still could set their own limits for OP_RETURN? link
15. Shouldn't we debate the controversy of this PR on Github since it's where the code gets merged to make these changes? link
16. What does it mean when someone says "Fix the Filters"? link
17. Will this open the flood gates and drown out all legitimate onchain activity? link
18. What can we do to stop spam at the consensus layer of Bitcoin? link
19. Will Taproot wizards and other spam companies and projects start using OP_RETURN to put jpegs on the blockchain? link
20. If we prevent these transaction from going into our mempools doesn't that prevent or delay these spam transactions from being mined therefore discouraging the spammers? link
21. Is it possible to stop abuse of witness data? If so, how? (i.e ordinal theory inscriptions, "jpegs"). link
22. Is there any conflict of interest with Bitcoin Core and companies like Citrea, in ref to this PR? link
23. Is there any estimation on how much would this affect fees for the average user, considering external projects (like Citrea) using it? Any possibility that this could saturate the mempool and boost fees beyond reasonable? link
24. Was this PR initially proposed because of Citrea BitVM needs? If so don't they only need a slight bump in OP_RETURN size, why is it being proposed to make the size unrestricted? link
25. What makes a UTXO unprunable? Which projects are making unprunable UTXOs? link
26. Why would a spammer use OP_RETURN if it's cheaper to use Witness data to store arbitrary data? link
27. Won't large OP_RETURNs allow people to spam the mempool with 100kb transactions and mess up bitcoin for everyone by bloating the mempool and not allowing legitimate transactions in the mempool? link
28. If relaxing op_return standardness limit seeks to make 'spam' prunable, then what are proponents of this change assuming about the long-term feasibility of running a 'full' (unpruned) bitcoin node? link
29. Is allowing standardness for larger OP_RETURNs a slippery slope? If we allow this won't we continue to allow things that make bitcoin less for money and more for arbitrary data? link
30. Won't removing the OP_RETURN cap reduce fee market pressure by allowing senders to consolidate arbitrary data into a single transaction? link
31. Could this PR be the beginning of reducing other mempool restrictions? link
32. Culture is what protects Bitcoin from external forces, shouldn't non-technical arguments be valid when considering these types of changes? link
33. What's the difference between UTXO set, mempool, and blockchain, and how do larger OP_RETURN or witness data affect node resource usage? link
34. What is the difference in defining a transaction as valid versus defining a transaction as standard and why do we need this difference? link
35. If you're happy with your viewpoint on consensus and mempool rules, is not upgrading Bitcoin Core until it makes sense to you a valid action to take right now? link
36. Why didn't this PR get a BIP number? link
37. Why is core rushing this change? link
38. If there will be a hard fork resulted from this PR (split chain like in 2017), what will happen with existing LN channels? Will exist on both chains with 2 LNs? link
39. Isn't this all moot in a (almost guaranteed) future where fees are very high? link
40. What is this controversy about, and what is it really about? link

originally posted at https://stacker.news/items/978404

@ 4bc7982c:4cb5c39d

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Behind the scenes, a lot has happened over the past weeks.

The design of the book’s pages is nearly finished. I’ve selected and placed the illustrations and sketches I’ll feature and I’m close to finalising the Introduction section. All that’s left to do is a small photo shoot of some things from my archives, selecting one or two more articles for the Context section, and illustrating the articles.

After that I’ll print a dummy and kick off the second round of iteration—crossing T’s, dotting I’s. (And then I’ll cross those T’s and dot those I’s again and again because, surely, more things will arise.)

In parallel, and perhaps most importantly, I’m working on the design of the cover. I have a few ideas I’d like to discuss with the printer to learn more about the various possibilities and costs.

Book site

The book is now also available for pre-order through its own website, where you can pay for it in euros or dollars, if you prefer. BTC payments are still possible, too.

Originally I only offered one pre-order option that included rewards, like a print and a sticker pack. I’ve now named that the Collectors Edition, and added a separate option to order just the book (without additional rewards) at a reduced price. 

Once the book is out in the world, this site is where I’ll have it up for sale. I’ll make the articles and illustrations from the Context section available there too. They’ll be published, in their entirety, under the Creative Commons Share-alike license. 

Promo video

My friend Lilia shot and edited a short promotional video that provides a glimpse behind the scenes in my studio in Amsterdam, a peek at the book’s production process, and a sneak preview of the first spreads. While the process was new to me, this video was a lot of fun to make and I’m proud of the result.

Pre-orders

The total number of pre-orders has grown to 76—12 of which came through the new website. I initially thought I’d be selling 50 pre-orders at most, so things are definitely exceeding my expectations.

Feel free to place your pre-order through the new site, or use the Geyser crowdfund campaign to secure your copy.

Up next

In my next blog I’ll dive a little deeper into the technical side of the book. I’ll take you through the different kinds of paper I’ll use, the printing methods we’ll employ, and how the book will be bound and finished.

Keep your eyes peeled! Thomas

---

Previous updates

The NoGood art book announcement Update 01 – Humble beginnings Update 02 – Throwback Update 03 – Loops

Pre-order a book

The NoGood art book is available as a pre-order on book.nogood.studio, where you can pay for it in euros or dollars, if you prefer. BTC payments are still possible, too.

Alternatively, visit the Geyser crowdfund campaign to secure your copy.

originally posted at https://stacker.news/items/978096

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Where We Are Now: AI is already a big part of our lives, even if we don’t always notice it. Think about the last time you used GPS to avoid traffic—that’s AI at work, quietly making your day easier. Companies like NVIDIA,are behind a lot of this magic. They make the tech that powers everything from self-driving cars to massive data centers. In factories, companies like Siemens are using something called "digital twins"—basically virtual copies of their machines—to keep things running smoothly. It’s like having a crystal ball that tells you when a machine might break down before it actually does. Even cities are getting in on the action—Singapore, for example, has a project called Virtual Singapore, which is like a digital version of the city to help with planning things like new roads or buildings. And for us regular folks? If you’ve got a smartwatch tracking your steps or heart rate, you’re already creating a tiny digital version of yourself without even realizing it.

What’s Coming in the near future:Fast forward five or ten years, and this idea of digital twins is going to be everywhere. Picture a factory that never stops because its digital twin catches problems before they happen—no more delays, no more wasted time. Cities will get smarter, too. Imagine a scorching summer day during a heatwave, and instead of a blackout, the city’s AI system automatically shifts energy to where it’s needed most, keeping your AC running. For you and me, digital twins could become a game-changer in healthcare. Your doctor might have a digital version of you—built from your DNA, lifestyle, and even the air quality in your neighborhood—that’s constantly updated. It could warn you about a health issue before you even feel sick, or help your doctor figure out the best treatment just for you. And it doesn’t stop there. You might even have a virtual version of yourself that can attend boring work meetings for you, acting and talking just like you do, while you’re off grabbing a coffee or playing with your kids.

The Big Picture—and the Big Worries: This AI-powered future sounds amazing, but it’s not all smooth sailing. One big concern is privacy. To make these digital twins, companies need a ton of data about us—what we do, where we go, even how our bodies work. That can feel a little creepy, right? What if someone hacks into a city’s digital twin and messes with its power grid or traffic lights? That’s a real risk we’ll need to tackle. Plus, there’s the worry that only the big players—rich companies or cities—will be able to afford this tech, leaving smaller places or communities behind. It’s something we’ll need to figure out so everyone can benefit from what AI has to offer.

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This is a part of the Bitcoin Infinity Academy course on Knut Svanholm's book Bitcoin: Sovereignty Through Mathematics. For more information, check out our Geyser page!

Changing the Rules

Altering the Bitcoin protocol is easy. The code is open source, which means that anyone can download a copy of the code and make whatever changes they want to it. Altering what the participants of the Bitcoin network view as the real deal, however, is hard. Really hard. Gaining their acceptance requires the proposed upgrade to be really good and really bulletproof in terms of not altering the game-theoretical fundamentals that make following the rules beneficial to the miners. Upgrades to the protocol can be implemented via either a soft fork or a hard fork. A soft fork is a voluntary, backward-compatible upgrade. A hard fork requires every node in the network that wants to stay active to upgrade its software. Even a soft fork can be very controversial, and a great debate between proponents of different paths to scaling up the Bitcoin network in 2017 led to a portion of the network “forking off” and creating a new chain via a hard fork. Even though the proposed upgrade was implemented following the consensus rules, some participants weren’t very happy with it. At this point in time, it is unlikely that Bitcoin will ever hard fork again except to fix critical bugs.

The Internet is an ocean of misinformation, and more often than not, it is very difficult to navigate through it. The sheer amount of dishonesty in the so-called "crypto space" is really depressing and has very little, if anything, to do with sound money. Bitcoin does one thing and one thing only: it solves The Byzantine Generals Problem through its consensus rules. That’s it. A problem most people have never even heard of. The Byzantine Generals Problem describes how hard it is to construct a network where the participants can come to a consensus on the true state of the network without needing to know or trust any of the other participants. In other words — how to construct a network in such a way that no trust is required, while ensuring that information sent via the network is true. A blockchain by itself does not ensure decentralization. It is not the “underlying technology” behind Bitcoin in any way. Bitcoin is the underlying technology behind the blockchain hype, but saying that the blockchain is the key invention here is misguided at best. The anchor chain is not the underlying technology behind the anchor. Nor is the keychain the technology behind the key or the food chain the underlying, most interesting aspect of a human being. Be very skeptical of those promoting blockchains that do not see Bitcoin’s blockchain as the most important one. Even social networks with billions of users. They are practically saying that masturbation is the most important aspect of sex.

At any point in time, any participant in the Bitcoin network can stop agreeing with the network’s way of determining scarcity and coming to consensus. A participant can choose to follow a hard fork of Bitcoin, exchange all of their Bitcoin for another cryptocurrency, or abandon the idea of digital scarcity altogether if they so choose. What they can’t do is change Bitcoin, change what others perceive to be Bitcoin, or change the nature of how bitcoiners determine scarcity. Unlike every government-backed currency, no one is forcing anyone to agree with anything in Bitcoin. It is a completely voluntary system with no formal leaders. We humans aren’t used to leaderless systems, and the idea of having no authority telling us how to think about it is scary to a lot of people. As mentioned above, many opportunists take advantage of this, and many people will lose money to scammers before Bitcoin finds its rightful place in our society. Stay vigilant and be suspicious of any “cryptocurrency” that isn’t Bitcoin. Every claim that an alternative currency has a new feature, is better for the environment, is faster or more anonymous than Bitcoin, or can be used as a base layer for building decentralized applications, is a testament to misunderstanding what the invention of Bitcoin really was. It was not so much an invention at all but rather a discovery. The discovery of true digital absolute scarcity. Absolute scarcity, whose most obvious use case was sound money. A discovery is a one-way occurrence. Thousands of people fly from Europe to America every day, but that doesn’t make those people as historically significant as Christopher Columbus. Nor will any social network coin, petro-dollar, or altcoin ever be as significant as Bitcoin.

While changing Bitcoin might be really hard, changing the current political state of the world is nearly impossible. Not because of the risk of having your voice drowned out — everyone on the internet faces that hurdle — but because the game is rigged. It’s rigged everywhere. Ignorant bloggers with hubris and a paycheck, often referred to as “journalists,” often parrot their unseen masters, the central bankers, and accuse Bitcoin of being the biggest pyramid scheme ever known to man. Our current monetary system is a pyramid scheme of such gargantuan proportions that almost everyone on Earth fails to see it for what it is since the bubble encapsulates the entire planet. Quantitative easing is counterfeiting, and counterfeiting is theft. Wealth is stolen from everyone and given to those most cynical and evil among us. If we had sound money, the playing field would be leveled, and those of us making the most responsible investments would be rewarded. Right now, our system rewards ignorant demagogues and outright liars instead. A hierarchical system of power will always favor those who crave power above all else. A decentralized system will not. It cannot. It’s fair.

According to a recent study in the journal Intelligence, highly intelligent people are more likely to be diagnosed with various mental disorders such as autism spectrum disorders (20% more likely), ADHD (80%), anxiety (83%), and they have a 182% higher likelihood of suffering from one or more mood disorders. The study compared data from the American Mensa Society to data from national surveys in general. According to another study published a couple of years back in the British Journal of Psychology, highly intelligent people are more likely to have fewer friends than those less fortunate in the cognitive department. In addition to this, many separate studies show that ADHD brains are linked to higher performance in some measures of creativity than their “normal” counterparts.

Having suspected that having a brain “on the spectrum” runs in my family, both up and down the generations, I dug a little deeper into the subject. I did this mainly because I’m curious about myself and why I function the way I function, but also because of the fact that these “diseases” were almost unheard of when I grew up. I’ve done a couple of tests online. They all say I’m quite likely to suffer from one of these conditions, mainly ADD. I’ve heard preschool teachers voice suspicions about spectrum disorders in one of my kids, and even though I suspect that some teachers look a little harder for these things than they probably should, I wouldn’t be surprised if the child’s behavior matched more than one of the spectrum-condition criteria. A thing that did surprise me, though, was that the Swedish Ministry of Education recently decided to pay extra attention to extraordinarily gifted children. Very un-social-democratic indeed and probably a sound thought. I became curious and looked at the paper on what behaviors teachers should look for in these children. They were remarkably similar to those who could label another child with ADHD or ADD. So, one child gets to skip a class, and another is given amphetamine to be more like the rest of the flock, all depending on the judgment of that particular child’s teacher.

Ritalin and other amphetamine-like drugs have for a long time been prescribed en masse to children with suspected ADHD and ADD in Western societies. Some countries are more restrictive than others, but these practices are present to some extent almost everywhere. People are being given anti-depressants all over the world, and there’s an opioid epidemic in the United States. Could it be that we’re seeing this from the wrong perspective? What do the institutions and schools have to do with our recent love for mental medication? Here’s a scary thought: Are we medicating the wrong segment of the population? Could it be that the less intelligent are unable to understand the behavior of the more intelligent? I’m not saying that everyone “on the spectrum” is hyper-intelligent, but maybe there’s a grain of truth here. Not being able to properly adjust to groups may just be a side effect of preferring to be alone. Not being good at submitting to the will of authorities may be a sign of independence rather than simple disobedience. Imagine if Nikola Tesla or Albert Einstein had been given Ritalin at an early age. Would they ever have come up with the amazing innovations and insights that they did if they’d been medicated into being docile sheep instead? Without the crazy ideas of Tesla, who allegedly was considered a weird loner by his peers, we might not have alternating current, without which the world would be a very different and darker place than it is today. Good ideas propel humanity forward, and we have no idea what we’re missing out on by turning our would-be future inventors and scientists into zombies instead. Keeping the ducks in line might seem beneficial to the collective, but it is only the individual that can spawn an original idea.

Our societies are built upon institutions, and institutions, once in place, have a tendency to act in their own best interest. The people in them have much to lose by not giving in to the will of the machine, so to speak. This includes our schools in which the children are lumped together for many years with potentially nothing in common but their age. They are then forced to imbibe a curriculum adapted to the median, neatly packed into different subjects, and are then graded by the person most likely to be biased against their talent that exists — the teacher. The Internet has long since rendered this system obsolete, but it seems only free thinkers understand that. If anyone should be medicated, it is not the children “on the spectrum.” Instead of giving these kids mind-numbing drugs, maybe we should try giving everyone else mind-enhancing drugs instead? The sad story about dumbing down the gifted for the sake of the collective is nothing new. The Arab world, for instance, thrived scientifically between the 8th and the 14th century until the collective interest of religion effectively killed that. Socialist states keep collapsing, Venezuela being the latest tragic addition to this collective madness. Russia threw one of their best thinkers ever, Garry Kasparov, in jail. In short, any society that puts the collective before the individual is on a very dangerous path. Thanks to Keynesian economic theory and central bank counterfeiting, or quantitative easing, all countries are on this path right now. What are the odds that Satoshi was on Ritalin when he wrote the Bitcoin whitepaper?

Changing the rules of any game is always hard when you’re a participant rather than a game designer. The game you’re in is rigged, and you’re a pawn on someone else's chess board. A pawn whose main purpose is to be sacrificed in order to protect the king. Now, look at how the artificial intelligence algorithm AlphaZero plays chess. The newly crowned ultimate chess player does one specific move a lot more often than any of its predecessors. It sacrifices pawns. Ask yourself, are you happy with being a pawn? Does your government’s promise of a social safety net seem legitimate to you? Will your current job even exist in twenty years? In ten? You don’t need to be a pawn. More importantly, you don’t need to leave the game entirely. Even a very small investment in Bitcoin has an enormous potential upside. The Lightning Network is a technology that changes the rules of what money is and what money can be. Once you have a Lightning Network wallet installed and topped up with some Bitcoin on your phone, you quickly realize that it’s even easier to use the Lightning Network than it is to use the basic Bitcoin Network. You scan a QR code and press send. That’s it. Transactions on the Lightning Network are instant, free, and anonymous. Even though it’s still in beta at the time of writing, it works like a dream. Imagine what you can build when money can flow through pipes like water or even energy. Circuits that run on value instead of electricity. Logic gates made electronics possible rather than mere electrics. “Value gates” would open up a whole new spectrum of invention, where human interaction would act as fuel for human ingenuity directly.

About the Bitcoin Infinity Academy

The Bitcoin Infinity Academy is an educational project built around Knut Svanholm’s books about Bitcoin and Austrian Economics. Each week, a whole chapter from one of the books is released for free on Highlighter, accompanied by a video in which Knut and Luke de Wolf discuss that chapter’s ideas. You can join the discussions by signing up for one of the courses on our Geyser page. Signed books, monthly calls, and lots of other benefits are also available.

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*For some people, Bitcoin is about saving for retirement. For others, it’s about eating tomorrow. __I first shared the idea of a “Bitcoin Privilege Curve” at the Plan B Forum 2025 in El Salvador. And it still guides how I see Bitcoin today—especially here in Uganda. __Bitcoin shows up differently depending on where you are in life. What it gives you depends on what you need most. __In Uganda, Bitcoin shows up as survival and uphill battle towards financial empowerment to the largely financially illiterate community. __Sometimes it’s food. Sometimes it’s school fees. Or even a skill. We receive Bitcoin donations that allow us to feed orphans, support teachers, and build small projects that teach these children how to farm, save, and think differently about money, __They’re learning how to live better. A child who knows how to grow food and save in sats is building wealth from the ground up. That’s what the lower end of the curve looks like: *Cheap transactions: Many of the people we work with don’t have bank accounts and the cost of accessing, setting up and maintaining a bank account is just unnecessary. Bitcoin lets them send and receive money within themselves almost at no fees, a better option than the exploitative fee structure by mobile money service providers and most banks. Cross-border remittances: We’ve seen Bitcoin move across borders in minutes with no forms, no gatekeepers. I can instantly and cheaply pay for a friend's grocery shopping in Kenya by sending Kenyan shillings into a Grocery Vendor's Mpesa straight from my Bitcoin wallet via Tando. Wealth multiplication: Even saving one sat creates a shift. It teaches patience. It grows over time. Bitcoin is a wealth multiplier for most underprivileged or privileged people, we taught Bitcoin and its principles to former students at Makerere University that have now entered the job market, from testimonials Bitcoin is helping them achieve their savings goals faster than their colleagues.

__Now go higher up the curve, and Bitcoin looks different. ****Wealth preservation: For someone with savings, Bitcoin protects that value over time, especially in regions with unstable currencies, the Argentina, Zimbabwe and Venezuala currency devaluation scandals always remind me that, you can do everything right and still end up losing all your hard earned value to mediocre goverment policies. Inflation hedge: Where governments keep printing money, Bitcoin holds its ground. It offers a stable alternative. The fallacy that inflation is a necessary evil no longer holds water, having a currency with a 21 Million coin hard cap enforceable by millions of Bitcoin network participants across the world guarantees no governement intervention. Censorship resistance: No one can freeze, reject or interfere with your Bitcoin and respective transactions. It's easy to assume because its a public ledger, you sacrifice privacy hence transaction integrity but this is far from the case, Bitcoin gives people freedom to transact without interference privately. Choice: Bitcoin doesn’t lock you into one system. You can move in and out of, save, or spend it however you see fit as long as your transactions obey the globally agreed upon, never changing network rules since 2009.

__So no, it’s not fair to compare someone struggling for a meal to someone saving for their retirement. But that’s the point. Bitcoin doesn’t need to be the same thing for everyone.

__With Gorilla Sats , our tourism project, we’re linking both ends of the curve. Bitcoiners from around the world visit our communities and spend their Bitcoin with local vendors. It’s not charity—it’s a circular economy. The people higher up the curve get meaningful experiences. Locals get income, exposure, and proof that their sats are valuable.

__In traditional finance, someone without a Visa machine can’t do business with someone carrying a card. The tourist who can't easily use mobile money and is hesistant because of exchange rates will spend comparably less but with Bitcoin, all you need is a phone even a basic button one because with now Machankura 8333, Bitcoin moves via USSD.

__Bitcoin offers privilege—but not the kind that excludes. It offers access, ownership, and freedom based on where you are in life. So no, it’s not fair to compare someone struggling for a meal with someone protecting their portfolio. But that’s the point.

__And if we build for everyone on the curve, we all move forward.

__If you’re building for Bitcoin adoption, think about the full curve. What’s it solving where you live? And who still needs a way in?

@ 8d34bd24:414be32b

What does it say about us that believers don’t listen as well as unbelievers? Let’s investigate some scripture verses and see what we can discover.

An Object Lesson:

Jesus warned His disciples several times that He would be killed and rise from the dead on the third day. Right after Jesus asked them who they thought He was and Peter replied that He was the Christ (Messiah), Jesus told them what would happen.

From that time Jesus began to show His disciples that He must go to Jerusalem, and suffer many things from the elders and chief priests and scribes, and be killed, and be raised up on the third day. (Matthew 16:21)

We know the disciples heard and understood what Jesus was saying because Peter immediately rebuked Jesus.

Peter took Him aside and began to rebuke Him, saying, “God forbid it, Lord! This shall never happen to You.” But He turned and said to Peter, “Get behind Me, Satan! You are a stumbling block to Me; for you are not setting your mind on God’s interests, but man’s.” (Matthew 16:22-23)

You’d think that Peter would have this moment locked in his mind after being rebuked so harshly for questioning Jesus’s prediction of what would happen.

A while later, Jesus again told His disciples what was about to happen.

And while they were gathering together in Galilee, Jesus said to them, “The Son of Man is going to be delivered into the hands of men; and they will kill Him, and He will be raised on the third day.” And they were deeply grieved. (Matthew 17:22-23)

They again heard what was said because they were “deeply grieved.” They didn’t like what they heard.

Then a third time, as they were approaching Jerusalem, He made certain they knew what was coming:

As Jesus was about to go up to Jerusalem, He took the twelve disciples aside by themselves, and on the way He said to them, “Behold, we are going up to Jerusalem; and the Son of Man will be delivered to the chief priests and scribes, and they will condemn Him to death, and will hand Him over to the Gentiles to mock and scourge and crucify Him, and on the third day He will be raised up.” (Matthew 20:17-19)

The disciples should have known that Jesus’s crucifixion and death were not the end. He told them repeatedly that He would die and be raised from the dead on the third day. They should have been diligently waiting with expectation, but instead they immediately hid, gave up, and headed back to their old lives.

His female followers still cared enough to try to prepare Jesus’s body for burial, but even they did not expect Him to rise as He said.

The angel said to the women, “Do not be afraid; for I know that you are looking for Jesus who has been crucified. He is not here, for He has risen, just as He said. Come, see the place where He was lying. Go quickly and tell His disciples that He has risen from the dead; and behold, He is going ahead of you into Galilee, there you will see Him; behold, I have told you.” (Matthew 28:5-7) {emphasis mine}

Even when the woman came and told the disciples that they had seen Jesus as He had said, none believed them, although Peter and John did have a glimmer of hope and went to look for themselves.

In contrast, the Pharisees, the very people who hated Jesus so much that they fought to have Him crucified, remembered Jesus’s statements.

Now on the next day, the day after the preparation, the chief priests and the Pharisees gathered together with Pilate, and said, “Sir, we remember that when He was still alive that deceiver said, ‘After three days I am to rise again.’ Therefore, give orders for the grave to be made secure until the third day, otherwise His disciples may come and steal Him away and say to the people, ‘He has risen from the dead,’ and the last deception will be worse than the first.” Pilate said to them, “You have a guard; go, make it as secure as you know how.” And they went and made the grave secure, and along with the guard they set a seal on the stone. (Matthew 27:62-66) {emphasis mine}

The Pharisees acted in response to Jesus’s claims. The disciples ignored or forgot Jesus’s claims.

KNOW:

How often do we ignore or forget Jesus’s promises? How often do we despair when we should hold tightly to the promises given to us in the Bible? Are there times that our opponents, unbelievers, are better at quoting the Bible back at us than we are at using the Bible to defend the truth and our faith?

but sanctify Christ as Lord in your hearts, always being ready to make a defense to everyone who asks you to give an account for the hope that is in you, yet with gentleness and reverence (1 Peter 3:15)

We need to know God’s word so we can “give an account for the hope that is in” us. First we need to read the whole Bible. We can’t know who God is, what He has done, and what He commands for us without knowing God’s word.

After we have gotten the big picture by reading through the Bible once, we need to really get to know it well. This not only includes reading the Bible continually, but also include memorizing key verses, so we can bring them to remembrance when we need them.

Some people can repeat a verse multiple times and just know it. Some of us have trouble memorizing things. We have to go to extraordinary measures to memorize God’s word. Some techniques I have used:

• WHITEBOARD APPROACH:

• Write the verse on the white board.

• Read out loud.

• Erase one word. (You can underline where the word is if that helps you remember that a word goes there)

• Read out loud saying verse including missing word.

• Continue erasing words, one at a time, saying the verse until all of the words are gone.

• I haven’t used it personally, but Verse Locker was recommended by another substacker and seems to use a similar technique.

• MUSICAL VERSES:

• Make up a tune and sing the verse or put the verse to a tune you already know.

• If you aren’t good at making up songs, there are sites that have verses to songs, but I haven’t used them personally other than a few from Awana years ago.

• FIRST LETTER:

• Write down the first letter of each word of the verse you want to memorize This gives hints and helps you not accidentally miss words.

• I’ve also made a necklace (it was supposed to be a bracelet, but the verse, 1 Peter 3:15 above, I picked was too long) made of beads with the letters of the words of the verse. By wearing it, you have a reminder to memorize and rememorize the verse till it sticks stronger.

• This is my version of 1 Peter 3:15

  

• APPS:

• There are multiple apps that can help you memorize verses. 5 Best Bible Memory Apps for 2025

We are all different and have different learning styles. Pick the version that works best for you, but be intentional. For so long I wasn’t. Having a child with Down Syndrome in Awana who needed help led me to finding ways to help him and me to memorize the hundreds (or thousands) of verses that are required to finish the program. Keep in mind that you need to keep reviewing them or the memories will fade. The more times you memorize the verse, the longer it will stick with you. You just never know when you will need a Scripture verse and you may not have your Bible or phone (with Bible app) handy.

APPLY:

Knowing the Bible is critical for the Christian life, but knowing the Bible and God’s commands is not enough. We have to live according to this knowledge. We have to apply it in our lives. It needs to change the way we view the world and change the way we live our lives and interact with others.

for it is not the hearers of the Law who are just before God, but the doers of the Law will be justified. (Romans 2:13) {emphasis mine}

Our faith needs to be exhibited through action.

But someone may well say, “You have faith and I have works; show me your faith without the works, and I will show you my faith by my works.” (James 2:18) {emphasis mine}

There is nothing we need to do to be saved besides believe, but if we have saving faith, we should desire God’s word like the author of Psalm 119. Our lives should also change to be conformed to Jesus.

And do not be conformed to this world, but be transformed by the renewing of your mind, so that you may prove what the will of God is, that which is good and acceptable and perfect. (Romans 12:12) {emphasis mine}

There must be works as evidence of our faith.

You believe that God is one. You do well; the demons also believe, and shudder. But are you willing to recognize, you foolish fellow, that faith without works is useless? Was not Abraham our father justified by works when he offered up Isaac his son on the altar? You see that faith was working with his works, and as a result of the works, faith was perfected; (James 2:19-22) {emphasis mine}

The disciples heard Jesus tell them what was going to happen to Him. They knew what He had said because they reacted to it negatively. The problem was they didn’t believe it and didn’t live according to Jesus’s plain words. As important as it is to read and understand the Bible, none of that matters if we don’t believe it and live it.

But I Can’t Do It Myself:

Jesus knew that we could not know and do what we were commanded to know and do, at least not in our own power.

Then He opened their minds to understand the Scriptures, and He said to them, “Thus it is written, that the Christ would suffer and rise again from the dead the third day, and that repentance for forgiveness of sins would be proclaimed in His name to all the nations, beginning from Jerusalem. You are witnesses of these things. And behold, I am sending forth the promise of My Father upon you; but you are to stay in the city until you are clothed with power from on high.” (Luke 24:45-49)

Jesus not only sent the disciples (and all believers) out into the world to tell of what He has done for us, but He told the disciples to “stay in the city until you are clothed with power from on high.” Jesus told them to wait until they had received the Holy Spirit to guide and empower them in the work He had designed them to complete. We also have the Holy Spirit to change our hearts and minds, so we can fulfill the commandments and plans He has for us.

I’m sorry if this post had a little too much overlap with my last post, but knowing God’s word has become a passion of mine and it is where I felt led to go.

May the God of Heaven give you a hunger for His word, help you to understand His word, believe His word, and live His word. May your understanding of the word of God guide you in everything you think, speak, and do. May you never doubt God’s word or discount God’s word because it isn’t according to your preference. God bless you and keep you.

Trust Jesus.

@ a296b972:e5a7a2e8

Wo sind der 1. Stock, das Erdgeschoss und der Keller? Das Dach ist noch zu bauen. Das Haus zum unerklärlichen Krieg ist unfertig. Der Bau wurde schon viel früher begonnen, aber die westlichen Medien behaupten das Gegenteil oder verschweigen es. Eine Vorgeschichte darf es nicht geben.

Am Ukraine-Krieg sieht man, dass ein Konflikt, der entgegen den Behauptungen der Propaganda-Maschine nicht erst im Februar 2022 angefangen hat, wie lange es dauert, bis wieder Verhältnisse zustande kommen, die eine Befriedung ermöglichen. Das Ringen darum ist hoffentlich endlich in die Zielgerade eingelaufen und man findet besser gestern als heute eine Lösung. So viele Menschenleben auf beiden Seiten hat dieser Wahnsinn bislang gekostet. Am Ende, wofür? Die Verwirrung bleibt bis zuletzt, denn einerseits treibt der US-amerikanische Präsident die Friedensbemühungen maßgeblich voran, andererseits werden von US-amerikanischer Seite mutmaßlich die Waffenlieferungen fortgesetzt und Starlink nicht abgeschaltet, was erheblich zum abrupten Beenden des sinnlosen Sterbens beitragen würde.

Verträge sind zu erfüllen? Sicherung der US-amerikanischen Interessen? Druckmittel auf Russland? Und Europa? Europa, vor allem Deutschland, Frankreich und Großbritannien geben weiterhin den Geisterfahrer und haben immer noch nicht mitbekommen, dass sie in der Beilegung des Ukraine-Kriegs nicht das geringste zu sagen haben. Sie spielen sich aber auf, als hätten sie und machen „einen auf dicke Hose“. Murmeln werden als Eier verkauft.

Etwas aus dem Fokus der Neuen Medien gerät dabei der immer noch wütende Krieg im Gaza-Streifen mit einer israelischen Planier-Raupe, dessen Vorgeschichte noch länger ist, als die, die zum Ukraine-Krieg geführt hat. Rund 80 Jahre, aber auch hier eigentlich noch länger. Man kann sich vorstellen, wie lange es hier dauern wird, bis sich sichere, friedliche Verhältnisse einstellen können.

Wer kann sicher sein, wer nimmt sich das Recht heraus zu behaupten, wer entscheidet darüber, dass sich Zustände, wie im 3. Reich, die Verfolgung und Vernichtung einer Minderheit, damals die Juden, nicht wiederholen kann? Seitdem das geschehen ist, hat sich der Großteil der Menschheit keinen Millimeter weiterentwickelt.

Wenn gerade Deutsche Anzeichen für eine Wiederholung dieser tief-dunklen Zeit zu erkennen glauben, derzeit in dem, wie der israelische Staat mit dem Gaza-Streifen verfährt, dann ist das keine Verharmlosung der Gräueltaten im 3. Reich, sondern der Beweis dafür, dass es doch einige gibt, die aus der Geschichte gelernt haben, und die der Meinung sind, dass sich so etwas niemals mehr wiederholen darf.

Um auf einen Genozid hinzuweisen, muss jeder Vergleich möglich und erlaubt sein. Es geht um eine Mehrzahl von Menschen, von Familien, die einfach nur in Frieden leben wollen! Ungeachtet der Tatsache, dass es auf beiden Seiten Kräfte gibt, die das nicht interessiert.

Besonders tragisch wird es, wenn dieser Genozid augenscheinlich ausgerechnet von denen ausgeht, die selbst so schrecklich davon betroffen waren.

Wie kann sich der deutsche Staat erdreisten, diejenigen als Anti-Semiten zu bezeichnen, die hier Merkmale eines Genozids zu erkennen glauben und versuchen, diese kritischen Stimmen zu unterdrücken, „nur“, weil es sich um den Staat Israel handelt, der hier als Täter infrage kommt. Auch der Staat Israel hat keinen Freibrief, die Bevölkerung im Gaza-Streifen nach seinen Vorstellungen und Überzeugungen abzurasieren.

Ein Genozid ist ein Genozid, egal von welcher Regierung eines Landes er begangen wird.

Der Staat Israel ist keine Ausnahme! Im Gegenteil. Aufgrund der Erfahrung seines Volkes müsste es die Menschlichkeit gebieten, dass derartiger Völkermord nie wieder geschieht.

Weiter müsste der Begriff Anti-Semitismus einmal genau unter die Lupe genommen werden, was wer aus welchen Gründen darunter versteht. Man kann den Eindruck gewinnen, dass dieser Begriff vor allem als Totschlagargument verwendet wird, um kritische Stimmen mundtot zu machen. Besonders bei diesem heiklen Thema wäre absolute Akkuratesse dringend notwendig.

Es ist die Pflicht eines jeden, der Kritik an den Zuständen üben will, nicht zu verallgemeinern.

Nicht alle israelischen Staatsbürger sind Netanjahu-Anhänger (das zeigen die Demonstrationen), nicht alle Juden sind Zionisten, nicht einmal alle Zionisten sind Juden.

Und sicher sind auf der Gaza-Seite ebenfalls nicht nur „Engel“ unterwegs!

Beide Lager haben rund 80 Jahre Zeit gehabt, den gegenseitigen Hass durch gegenseitige Provokationen aufzubauen und ihn immer wieder sich entladen zu lassen.

Dieser unermessliche Hass kann nur über Generationen hinweg wieder abgebaut werden.

Wenn es jemals eine ernste Absicht gegeben hätte, eine 2-Staaten-Lösung zu realisieren, wäre diese schon längst in die Tat umgesetzt worden. Wenn jedoch der politische Wille dazu fehlt, vor allem auf der Seite des Stärkeren, passiert gar nichts. Und der fehlt jetzt schon seit rund 80 Jahren.

Maßgeblich durch die Briten ist der Staat Israel künstlich entstanden. Die Ableitung der Nutznießer auf einen Gebietsanspruch aus einem Glauben heraus, ist einmalig.

In dem nicht natürlich entstandenen, sondern künstlich geschaffenen Staatsgebilde liegt möglicherweise die Wurzel allen Übels, die von langer Hand, spätestens durch die Balfour-Deklaration im Jahre 1917 ihren Anfang genommen hat.

Man hat nun Jahrzehnte lang Zeit gehabt, zu beobachten, dass dieses Konstrukt ein sicheres Leben und eine Garantie für friedliche Verhältnisse aller nicht zustande gebracht hat. Schmerzliche Erfahrungen auf beiden Seiten haben bislang nicht dazu geführt, dass man zu der Einsicht gekommen wäre, dass man sich möglicherweise auf dem Holzweg befindet.

Die verfeindeten Lager müssten sich, neutral moderiert (welcher Staat, welcher Mensch ist heute noch neutral, oder zumindest kein Interessenvertreter?), zusammensetzen und sich in sicher nicht einfachen, langwierigen, zähen Gesprächen und Verhandlungen über die Neugründung eines gemeinsamen Staates für alle Beteiligten ernsthaft nachdenken, solange, bis es zu einer Einigung gekommen wäre, die für alle Beteiligten akzeptabel ist. Das Ergebnis, eine gemeinsame Staatenlösung, müsste das erklärte Ziel sein und wenn es noch so lange dauern würde.

Das Mitspracherecht müsste nach Bevölkerungsanteil in einem gerechten Verhältnis festgelegt werden. So müssten kleinere Anteile verhältnismäßig mehr Stimmanteile haben, als der größere Anteil, um zu möglichst für alle gerechten Entscheidungen zu gelangen, die alle Beteiligten mittragen könnten. Ein Vorankommen wäre nur durch Vernunft, nicht durch Starrsinn möglich.

Aufgrund der hitzigen Mentalität aller Beteiligten müssten beide Lager auf Gedeih und Verderb voneinander abhängig gemacht werden, sodass ein friedliches Zusammenraufen immer wieder nötig wäre, weil niemand in der Lage wäre, die Oberhand zu gewinnen.

Es müssten gegenseitige Abhängigkeiten geschaffen werden. So könnten zum Beispiel Lieferungen von Lebensmitteln, Wasser, Energie (Israel) usw. mit der Hoheit über die noch zu erschließenden Gasfelder (Gaza) vor Gaza „verrechnet“ werden, ohne, dass die USA oder sonst wer die Finger im Spiel haben.

Bei derartigen gegenseitigen Abhängigkeiten würde man sich schon zusammenraufen.

Das alles setzt voraus, dass der Mensch an sich seine menschlichen Schwächen unter Kontrolle bringen würde. Hierzu können Machtstreben, Geldgier, Rechthaberei, Überheblichkeit, Ideologien, Ansprüche aus einem Glauben heraus usw. gezählt werden.

Jerusalem müsste einen Sonderstatus erhalten und die Verwaltung müsste unter den drei Weltreligionen aufgeteilt werden. Jerusalem könnte im „Kleinen“ ein Beispiel dafür sein, wie der gesamte neue Staat im „Großen“ funktioniert. Und möglicherweise würde er so in der Tat funktionieren.

Für viele mag das alles vielleicht naiv oder sogar absurd klingen. Zur Herstellung von Frieden, Frieden in dem jede Mutter, gleich welcher Religion sie angehört, ihre Kinder in Sicherheit aufwachsen sehen kann, muss jede Überlegung und Idee, wie ein friedliches Miteinander realisiert werden kann, erlaubt sein zu denken und auch auszusprechen.

Eines ist sicher. So, wie die Verhältnisse in der Vergangenheit gestaltet wurden, hat die Realität eindeutig gezeigt, dass es so auf gar keinen Fall funktioniert. Also, warum nicht einfach einmal das Gehirn durchblasen, alte, überkommene Überzeugungen loswerden und endlich einmal etwas Neues denken?

Und wer jetzt immer noch sagt, das wäre eine Delegitimierung des Staates Israel, der sollte seine Gehirnwindungen einmal zur Inspektion bringen. Der Mensch, egal welcher Couleur und welcher Religion steht hier im Mittelpunkt. Im Mittelpunkt stehen Überlegungen, wie ein friedliches Miteinander möglich sein könnte. Falls sich herausstellt, dass das eine Utopie ist, auch gut, aber immerhin sind sich Gedanken gemacht worden, die von den eingefahrenen, zu nichts außer Elend führenden Entscheidungen abweichen. Und wenn es nur zur Anregung für andere Ideen dient, dann wäre schon viel getan. Und das ist weder anti-semitisch, noch anti-israelisch, noch anti-christlich, noch anti-moslemisch, noch anti-sonst wie, sondern vor allem ein Appell an die Vernunft, zu der der Mensch schließlich auch begabt ist.

Dieser Artikel wurde mit dem Pareto-Client geschrieben

* *

(Bild von Georg Ohrweh)

@ c1e9ab3a:9cb56b43

I. Historical Foundations of U.S. Monetary Architecture

The early monetary system of the United States was built atop inherited commodity money conventions from Europe’s maritime economies. Silver and gold coins—primarily Spanish pieces of eight, Dutch guilders, and other foreign specie—formed the basis of colonial commerce. These units were already integrated into international trade and piracy networks and functioned with natural compatibility across England, France, Spain, and Denmark. Lacking a centralized mint or formal currency, the U.S. adopted these forms de facto.

As security risks and the practical constraints of physical coinage mounted, banks emerged to warehouse specie and issue redeemable certificates. These certificates evolved into fiduciary media—claims on specie not actually in hand. Banks observed over time that substantial portions of reserves remained unclaimed for years. This enabled fractional reserve banking: issuing more claims than reserves held, so long as redemption demand stayed low. The practice was inherently unstable, prone to panics and bank runs, prompting eventual centralization through the formation of the Federal Reserve in 1913.

Following the Civil War and unstable reinstatements of gold convertibility, the U.S. sought global monetary stability. After World War II, the Bretton Woods system formalized the U.S. dollar as the global reserve currency. The dollar was nominally backed by gold, but most international dollars were held offshore and recycled into U.S. Treasuries. The Nixon Shock of 1971 eliminated the gold peg, converting the dollar into pure fiat. Yet offshore dollar demand remained, sustained by oil trade mandates and the unique role of Treasuries as global reserve assets.

II. The Structure of Fiduciary Media and Treasury Demand

Under this system, foreign trade surpluses with the U.S. generate excess dollars. These surplus dollars are parked in U.S. Treasuries, thereby recycling trade imbalances into U.S. fiscal liquidity. While technically loans to the U.S. government, these purchases act like interest-only transfers—governments receive yield, and the U.S. receives spendable liquidity without principal repayment due in the short term. Debt is perpetually rolled over, rarely extinguished.

This creates an illusion of global subsidy: U.S. deficits are financed via foreign capital inflows that, in practice, function more like financial tribute systems than conventional debt markets. The underlying asset—U.S. Treasury debt—functions as the base reserve asset of the dollar system, replacing gold in post-Bretton Woods monetary logic.

III. Emergence of Tether and the Parastatal Dollar

Tether (USDT), as a private issuer of dollar-denominated tokens, mimics key central bank behaviors while operating outside the regulatory perimeter. It mints tokens allegedly backed 1:1 by U.S. dollars or dollar-denominated securities (mostly Treasuries). These tokens circulate globally, often in jurisdictions with limited banking access, and increasingly serve as synthetic dollar substitutes.

If USDT gains dominance as the preferred medium of exchange—due to technological advantages, speed, programmability, or access—it displaces Federal Reserve Notes (FRNs) not through devaluation, but through functional obsolescence. Gresham’s Law inverts: good money (more liquid, programmable, globally transferable USDT) displaces bad (FRNs) even if both maintain a nominal 1:1 parity.

Over time, this preference translates to a systemic demand shift. Actors increasingly use Tether instead of FRNs, especially in global commerce, digital marketplaces, or decentralized finance. Tether tokens effectively become shadow base money.

IV. Interaction with Commercial Banking and Redemption Mechanics

Under traditional fractional reserve systems, commercial banks issue loans denominated in U.S. dollars, expanding the money supply. When borrowers repay loans, this destroys the created dollars and contracts monetary elasticity. If borrowers repay in USDT instead of FRNs:

• Banks receive a non-Fed liability (USDT).
• USDT is not recognized as reserve-eligible within the Federal Reserve System.
• Banks must either redeem USDT for FRNs, or demand par-value conversion from Tether to settle reserve requirements and balance their books.

This places redemption pressure on Tether and threatens its 1:1 peg under stress. If redemption latency, friction, or cost arises, USDT’s equivalence to FRNs is compromised. Conversely, if banks are permitted or compelled to hold USDT as reserve or regulatory capital, Tether becomes a de facto reserve issuer.

In this scenario, banks may begin demanding loans in USDT, mirroring borrower behavior. For this to occur sustainably, banks must secure Tether liquidity. This creates two options: - Purchase USDT from Tether or on the secondary market, collateralized by existing fiat. - Borrow USDT directly from Tether, using bank-issued debt as collateral.

The latter mirrors Federal Reserve discount window operations. Tether becomes a lender of first resort, providing monetary elasticity to the banking system by creating new tokens against promissory assets—exactly how central banks function.

V. Structural Consequences: Parallel Central Banking

If Tether begins lending to commercial banks, issuing tokens backed by bank notes or collateralized debt obligations: - Tether controls the expansion of broad money through credit issuance. - Its balance sheet mimics a central bank, with Treasuries and bank debt as assets and tokens as liabilities. - It intermediates between sovereign debt and global liquidity demand, replacing the Federal Reserve’s open market operations with its own issuance-redemption cycles.

Simultaneously, if Tether purchases U.S. Treasuries with FRNs received through token issuance, it: - Supplies the Treasury with new liquidity (via bond purchases). - Collects yield on government debt. - Issues a parallel form of U.S. dollars that never require redemption—an interest-only loan to the U.S. government from a non-sovereign entity.

In this context, Tether performs monetary functions of both a central bank and a sovereign wealth fund, without political accountability or regulatory transparency.

VI. Endgame: Institutional Inversion and Fed Redundancy

This paradigm represents an institutional inversion:

• The Federal Reserve becomes a legacy issuer.
• Tether becomes the operational base money provider in both retail and interbank contexts.
• Treasuries remain the foundational reserve asset, but access to them is mediated by a private intermediary.
• The dollar persists, but its issuer changes. The State becomes a fiscal agent of a decentralized financial ecosystem, not its monetary sovereign.

Unless the Federal Reserve reasserts control—either by absorbing Tether, outlawing its instruments, or integrating its tokens into the reserve framework—it risks becoming irrelevant in the daily function of money.

Tether, in this configuration, is no longer a derivative of the dollar—it is the dollar, just one level removed from sovereign control. The future of monetary sovereignty under such a regime is post-national and platform-mediated.

@ c9badfea:610f861a

1. Install Organic Maps
2. Launch the app and download the World Map first
3. Tap the ☰ at the bottom, then select Download Maps, and tap the + icon
4. Download maps by tapping ⤓ next to your desired region
5. Return to the main screen and tap 🔍 to search for your destination
6. Enjoy navigating offline

ℹ️ Note that Organic Maps does not provide live traffic updates

@ bbef5093:71228592

A francia székhelyű Newcleo, az olasz dizájncég Pininfarina és az olasz hajógyártó Fincantieri bemutatták a TL-40 nevű, következő generációs, hajókra szánt nukleáris reaktor teljes méretű modelljét a 19. Velencei Építészeti Biennálén[1][2][5][6][7].

A TL-40 reaktor főbb jellemzői

• IV. generációs, ólom-hűtésű kis moduláris reaktor (SMR), amelyet nagy hajók meghajtására fejlesztettek ki[1][2][5][6].
• Kompakt, biztonságos és fenntartható: A reaktor passzív biztonsági rendszereket alkalmaz, amelyek a fizika törvényein keresztül kizárják a nukleáris balesetek lehetőségét[2][5][6].
• Nukleáris hulladék újrahasznosítása: A TL-40 képes újrafeldolgozott nukleáris hulladékot üzemanyagként használni, ezzel egyszerre járul hozzá az energiatermeléshez és a hulladékcsökkentéshez[1][2][5][6].
• Formatervezés és ipari háttér: A Pininfarina gondoskodott a dizájnról és a reaktor esztétikai megjelenéséről, míg a Fincantieri a hajógyártási tapasztalatát adta hozzá[1][2][5][6][7].
• Nyitott konfiguráció: A reaktor vázája lehetővé teszi a látogatók számára, hogy belülről is megismerjék a technológiát, interaktív módon[1][2][5].

Technológiai és környezeti jelentőség

• Dekarbonizáció: A fejlesztés célja, hogy a nukleáris energiát a hajózás szektorában is a szén-dioxid-kibocsátás csökkentésének eszközeként alkalmazzák[1][2][5][6].
• Európai hulladék hasznosítása: A jelenleg Európában tárolt nukleáris hulladék elegendő lenne a kontinens villamosenergia-igényének fedezésére évszázadokon át, ha ilyen típusú reaktorokban hasznosítanák[2][5][6].
• Kreatív szemlélet: A projekt célja a nukleáris energia társadalmi megítélésének javítása, bemutatva, hogy az lehet egyszerre biztonságos, esztétikus és fenntartható[1][5][6][7].

Együttműködés és jövőbeli tervek

• Folyamatos együttműködés: A Newcleo és a Fincantieri 2023 óta dolgoznak együtt a tengeri alkalmazások fejlesztésén[2][5][6][7].
• Kutatás-fejlesztés: A Pininfarina a Newcleo franciaországi (Chusclan) nukleáris üzemanyag kutató-fejlesztő központjának tervezésében is részt vesz[2][5][6][7].
• Első demonstrációs reaktor: A Newcleo célja, hogy 2031-re bemutassa az első demonstrációs reaktort, 2033-ra pedig kereskedelmi forgalomba hozza azt[8].
• Földi alkalmazás: A vállalat már megkezdte a földi, ólom-hűtésű LFR-AS-30 reaktor telephelyének előkészítését Franciaországban (Chinon régió)[8].
• Európai támogatás: Az LFR dizájn 2024 októberében felkerült az Európai Ipari Szövetség támogatásra javasolt SMR-listájára[8].

Idézetek a projekt vezetőitől

„Ez nem a nagyapáink reaktora. Fenntartható, előremutató technológia, amely a való világ és a klímaváltozás kihívásaira készült.”
(Stefano Buono, a Newcleo vezérigazgatója)[1][5][6][7]

„A dizájn stratégiai szerepet játszik a fenntartható energia megoldások fejlesztésében, biztosítva a társadalmi és környezeti szempontok teljes integrációját az innovációs folyamat során.”
(Silvio Angori, a Pininfarina vezérigazgatója)[6][7]

Hivatkozások: [1] newcleo, Pininfarina and Fincantieri unveil the future of clean ... https://www.maddyness.com/uk/2025/05/08/newcleo-pininfarina-and-fincantieri-unveil-the-future-of-clean-energy-at-the-venice-biennale/ [2] Newcleo, Pininfarina, and Fincantieri showcase next-generation ... https://www.shippax.com/en/news/newcleo-pininfarina-and-fincantieri-showcase-next-generation-nuclear-power-solution-for-potential-marine-applications.aspx [3] Newcleo and Fincantieri unveil lead-cooled fast nuclear reactor for ... https://www.bairdmaritime.com/shipping/newcleo-and-fincantieri-unveil-lead-cooled-fast-nuclear-reactor-for-maritime-applications [4] Fincantieri Launches Nuclear-Propulsion Study With Newcleo https://maritime-executive.com/article/fincantieri-joints-nuclear-propulsion-study-with-newcleo [5] Industry Partners Showcase Next-Gen Nuclear Reactor For https://www.marinelink.com/news/industry-partners-showcase-nextgen-525512 [6] Fincantieri, newcleo and Pininfarina reveal the look of new nuclear ... https://www.fincantieri.com/en/media/press-releases/2025/fincantieri-newcleo-pininfarina-at-the-venice-biennale/ [7] Fincantieri S p A : , newcleo and Pininfarina reveal the look of new ... https://www.marketscreener.com/quote/stock/FINCANTIERI-S-P-A-16796084/news/Fincantieri-S-p-A-newcleo-and-Pininfarina-reveal-the-look-of-new-nuclear-power-at-the-19th-Inter-49877851/ [8] Pininfarina - NucNet | Independent Nuclear News https://www.nucnet.org/news/tagged/Pininfarina [9] newcleo, Fincantieri and RINA working together on feasibility study ... https://www.rina.org/en/media/press/2023/07/25/newcleo-fincantieri-rina [10] Fincantieri, RINA team up with newcleo to test feasibility of nuclear ... https://www.offshore-energy.biz/fincantieri-rina-team-up-with-newcleo-to-test-feasibility-of-nuclear-naval-propulsion/ [11] newcleo #pininfarina #fincantieri #biennalearchitettura2025 ... https://www.linkedin.com/posts/newcleo_newcleo-pininfarina-fincantieri-activity-7295080775878647810-6i6X [12] A Fourth-Generation Reactor at the Venice Architecture Biennale https://www.theplan.it/eng/whats_on/a-reactor-fourth-generation-pininfarina-newcleo-fincantieri

@ 32092ec1:8e9fd13a

Bitcoin controversies are not new, in fact, bitcoin’s past has been riddled with one controversy after another. From the viewpoint of a financial investor, controversies are not good. They drive investor fear by amplifying uncertainty and introducing doubt about the future viability of the project. Although bitcoin is an investable asset, and there are certainly individuals, companies and countries who are investing in bitcoin strictly as a new, diversified financial asset that shows growth characteristics the likes of which humanity has rarely seen, bitcoin is not exclusively a financial instrument. Bitcoin is a network that is only as strong as the people running the miners who create the blocks, the nodes that propagate the blocks, and the users who hold the keys.

In this post I do not care to share my view on any of the latest bitcoin controversies, whether that be about OP_RETURNs, MSTR, Blackrock, MSTY, inscriptions, soft fork proposals, mempools, bitcoin strategic reserves, 21, chain surveillance, on-chain privacy, shitcoins projects, or anything else that anyone cares to opine about on Nostr or X to signal their support or opposition for what they think is critical to the success or failure of bitcoin. What I do care to share here is the ONLY winning strategy to defend bitcoin no matter what your opinion its future: USE THE TOOLS, RUN THE CODE, HOLD YOUR KEYS, TAKE RESPONSIBILITY.

In my humble opinion, the biggest problem with the current batch of bitcoin controversies is that so many people are sharing their opinions and expressing their fears about the future of bitcoin who are not even using the tools; they aren’t running the code, supporting the network or even holding their own keys. Everyone is free to share their opinions about the future of bitcoin and allowing everyone a voice is critical if we are serious about adopting the best ideas. Many visionaries have participated in the growth and development of bitcoin up to this point; we are truly standing on the shoulders of giants.
But before jumping to conclusions and spreading opinions about whether people are good faith or bad faith actors in the bitcoin space, I believe we should all hold ourselves to a certain standard. Set a minimum threshold of education for yourself before you jump on one side or the other of the latest controversy. We have tools that offer a level of sovereignty that is unparalleled in the legacy financial world, are you using them?

Don’t like what MSTR is doing? Hold your keys in cold storage, then share your opinion.

Think Blackrock wants to use Bitcoin to launch a dystopian new world order agenda? Tell everyone to run a node, implement on-chain privacy strategies and hold their keys in cold storage.

Are Bitcoin developers making changes you don’t like? Use an alternative implementation, get a Bitaxe and construct your own block templates; for almost everyone this will be a stronger signal than shitposting or spreading FUD on the socials.

If you really want to defend bitcoin, think about how you are using it today. Who are you trusting to put your transactions into a block? Who are you trusting to propagate your transactions across the network? Who are you trusting to hold your keys? Who estimates your transaction fees? If you don’t trust the people who you are currently depending on, move your trust elsewhere, or increase your sovereignty and rely on yourself for some, or all, of these functions.

We make bitcoin what it is today, and we will define what bitcoin will be in the future. If we want to defend bitcoin it is our responsibility to keep it as decentralized as possible and that starts with every individual using the tools, running the code, doing the research and taking responsibility for their money.

895982

@ 5d4b6c8d:8a1c1ee3

The second round of the NBA Playoffs is historically weird. We'll try to figure out what's going wrong for all three of the presumed contenders. Which of the other East teams need to be considered contenders now? With how bad the Warriors look without Steph (just how underrated is he?), do the Warriors still have any chance?

In Blok'd Shots, we'll talk about the NHL Star who got traded midseason and then beat his former team in the playoffs.

There was a big trade in the NFL. Plus, @grayruby wants to start a media beef with Colin Cowherd.

The MLB introduced a new stat. I have no idea what it is, but I'm looking forward to trying to understand it live on air.

And, of course, lots of contest and betting updates.

What do you want us to talk about?

originally posted at https://stacker.news/items/975474

@ a3c6f928:d45494fb

Financial freedom is a powerful concept—one that goes beyond simply having money in the bank. It is the ability to live the life you desire, free from the constraints of financial worry. Achieving financial freedom requires planning, discipline, and a clear understanding of your financial goals.

What Is Financial Freedom?

Financial freedom means having enough income, savings, and investments to support the lifestyle you want for yourself and your family. It is about being in control of your finances, instead of your finances controlling you. When you are financially free, you have choices—you can travel, start a business, or retire comfortably without constant stress about money.

Steps to Achieving Financial Freedom

1. Set Clear Financial Goals: Understand what financial freedom means to you and set measurable goals to achieve it.

2. Create a Budget and Stick to It: Track your income and expenses to identify areas where you can save more.

3. Invest Wisely: Grow your wealth by investing in assets like stocks, real estate, or mutual funds.

4. Build an Emergency Fund: Save at least 3-6 months’ worth of living expenses to protect against unexpected events.

5. Eliminate Debt: High-interest debt can be a major barrier to financial freedom. Prioritize paying it off.

Why Financial Freedom Matters

Financial freedom gives you the power to make decisions without being bound by financial constraints. It allows for greater life flexibility, reduces stress, and opens up opportunities that would otherwise be unreachable. Most importantly, it provides peace of mind and the ability to focus on what truly matters.

Start Your Journey Today

The path to financial freedom is not a quick fix—it is a lifelong commitment to smart financial choices. But with perseverance and planning, it is achievable. Begin today, and take control of your financial future.

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“Financial freedom is available to those who learn about it and work for it.” — Robert Kiyosaki

Plan wisely. Invest smartly. Live freely.

@ 6be5cc06:5259daf0

A posição do libertário que rejeita o cristianismo padece de sérias incoerências lógicas, históricas e filosóficas. Ao renegar as bases espirituais e culturais que tornaram possível o próprio ideal libertário, tal posição demonstra ser, ao mesmo tempo, autofágica e irracional. É o caso de alguém que se gloria dos frutos de uma árvore que corta pela raiz.

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I. Fundamento histórico: a civilização da liberdade é cristã

Não foi o secularismo moderno, nem o paganismo antigo, que ergueram as instituições que protegem a dignidade da pessoa humana e os limites ao poder. Desde os primeiros séculos, a Igreja resistiu ao culto estatal romano, afirmando a soberania de Deus sobre os Césares — "Mais importa obedecer a Deus que aos homens" (Atos 5,29).

Foi o cristianismo que:

• Fundou universidades livres, onde o saber era buscado sob o primado da verdade;

• Defendeu a lei natural como fundamento do direito — uma doutrina que protege o indivíduo contra tiranias;

• Resgatou e aprofundou o conceito de pessoa, dotada de razão e livre-arbítrio, imagem de Deus, e, portanto, inalienavelmente digna e responsável.

Em momentos-chave da história, como nas disputas entre papado e império, nas resistências contra absolutismos, e na fundação do direito internacional por Francisco de Vitoria e a Escola de Salamanca, foi o cristianismo quem freou o poder estatal em nome de princípios superiores. A tradição cristã foi frequentemente o principal obstáculo à tirania, não seu aliado.

Negar isso é amputar a própria genealogia da liberdade ocidental.

Uma das chaves do cristianismo para a construção dessa civilização da liberdade foi a exaltação do individualismo. Ao afirmar que o ser humano é feito à imagem de Deus e que sua salvação é uma escolha pessoal, o cristianismo colocou o indivíduo no centro da moralidade e da liberdade. Diferente dos gregos, cuja ética era voltada para a polis e a cidade-estado, o cristianismo reafirma a suprema importância do indivíduo, com sua capacidade de escolha moral, responsabilidade pessoal e dignidade intrínseca. Esse princípio, mais do que qualquer outra religião, foi o alicerce do desenvolvimento da liberdade individual e da autonomia, valores que sustentam a civilização ocidental.

A ética grega, na melhor das hipóteses, descreve a ordem natural — mas não consegue justificar por que essa ordem deveria obrigar a vontade humana. Um Logos impessoal não tem autoridade moral. Uma ordem cósmica sem um Legislador é apenas um dado de fato, não uma norma vinculante. A vontade pode rebelar-se contra o telos — e sem um Deus justo, que ordena a natureza à perfeição, não há razão última para não o fazer.

A cultura grega teve uma influência indiscutível sobre o desenvolvimento da civilização ocidental, mas o cristianismo não só absorveu o que havia de bom na cultura grega, como também elevou e completou esses aspectos. O cristianismo, ao afirmar que todos os homens são feitos à imagem e semelhança de Deus e têm dignidade intrínseca, levou a uma noção de igualdade moral e liberdade que transcende as limitações da pólis grega.

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II. Falsa dicotomia: fé e liberdade não são opostas

Com frequência equiparam a religião à coerção e à obediência cega. Mas isso é um equívoco: o cristianismo não se impõe pela força, mas apela à consciência. O próprio Deus, em sua relação com a criatura racional, respeita sua liberdade. Como ensina a Escritura:

"Se alguém quiser vir após mim..." (Mt 16,24);
"Eis que estou à porta e bato. Se alguém ouvir a minha voz e abrir a porta, entrarei em sua casa e cearei com ele." (Ap 3,20);
"Assim falai, e assim procedei, como devendo ser julgados pela lei da liberdade." (Tiago 2,12).

A adesão à fé deve ser livre, voluntária e racional, pois sem liberdade não há verdadeiro mérito, nem amor genuíno. Isso é mais compatível com o princípio de não agressão do que qualquer utopia secular. Ora, o núcleo do evangelho é voluntarista: salvação pessoal, conversão interior, caridade.

Ninguém deve ser forçado, contra sua vontade, a abraçar a fé, pois o ato de fé é por sua natureza voluntário (Dignitatis Humanae; CDC, cân. 748,2)

Se algum Estado usa da força para impor o cristianismo, afirmar que o cristianismo causou as coerções é tão equivocado quanto dizer que a propriedade privada causa o comunismo; é uma inversão da realidade, pois o comunismo surge precisamente da violação da propriedade. Portanto, a fé forçada é inválida em si mesma, pois viola a natureza do ato de crer, que deve ser livre.

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III. Fundamento moral: sem transcendência, o libertarianismo flutua no vácuo

O libertário anticristão busca defender princípios objetivos — como a inviolabilidade do indivíduo e a ilegitimidade da agressão — sem um fundamento transcendente que lhes dê validade universal. Por que a agressão é errada? Por que alguém tem direito à vida, à liberdade, à propriedade? Sem uma explicação transcendental, as respostas para tais perguntas se tornam apenas opiniões ou convenções, não obrigações morais vinculantes. Se a moralidade é puramente humana, então os direitos podem ser modificados ou ignorados conforme a vontade da sociedade. O conceito de direitos naturais, tão caro ao libertarianismo, precisa de um solo metafísico que justifique sua universalidade e imutabilidade. Caso contrário, eles podem ser tratados apenas como acordos utilitários temporários ou preferências culturais, sem qualquer obrigatoriedade para todos os seres humanos em todas as circunstâncias.

Pensadores libertários seculares, como Ayn Rand e Murray Rothbard, tentaram ancorar os direitos naturais na razão humana ou na natureza do homem. Rand baseia sua ética no egoísmo racional, enquanto Rothbard apela à lei natural. Embora essas abordagens busquem objetividade, elas carecem de uma resposta definitiva para por que a razão ou a natureza humana obrigam moralmente todos os indivíduos. Sem um fundamento transcendente, suas concepções permanecem vulneráveis a interpretações subjetivas ou a cálculos utilitários.

Aqui, o cristianismo oferece uma explicação sólida e transcendental que fundamenta os direitos naturais. A visão cristã de que o ser humano foi criado à imagem e semelhança de Deus confere à pessoa uma dignidade intrínseca, imutável e universal. Essa dignidade não depende de fatores externos, como consenso social ou poder político, mas é uma característica inerente ao ser humano pela sua criação divina. A partir dessa perspectiva teológica, torna-se possível afirmar com base sólida que os direitos naturais são dados por Deus e, portanto, são universais e vinculantes.

O cristianismo também é a base de um sistema moral que distingue claramente justiça de legalidade. O Estado pode criar leis, mas isso não significa que essas leis sejam justas. A justiça, sob a ótica cristã, é uma expressão da ordem moral objetiva, algo que transcende as leis humanas e é definido pela vontade divina. Por isso, o libertarianismo cristão vê a agressão como uma violação de uma ordem moral objetiva, e não apenas uma violação de uma convenção social ou de um acordo utilitário.

Se a moralidade e os direitos naturais não forem fundamentados em um Logos criador e legislador, o que acontece é que o conceito de direito natural degenera para algo mais frágil, como um simples acordo utilitário. Nesse cenário, os direitos do indivíduo se tornam algo acordado entre os membros de uma sociedade, em vez de princípios imutáveis e universais. Os direitos podem ser negociados, alterados ou ignorados conforme o interesse do momento.

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IV. Fundamento científico: a racionalidade moderna é filha da fé cristã

A ciência moderna só foi possível no contexto cultural cristão. Nenhuma outra civilização — nem a grega, nem a islâmica, nem a chinesa — produziu o método científico como o Ocidente cristão o fez.

Isso se deve a quatro premissas teológicas:

1. Criação racional: O mundo é ordenado por um Deus racional.

2. Distinção entre Criador e criatura: A natureza não é divina e pode ser estudada sem sacrilégio.

3. Valor do trabalho e da observação empírica, herdado do monaquismo.

4. Autonomia institucional, presente nas universidades medievais.

A doutrina cristã da Criação ex nihilo ensina que o mundo foi criado por um Deus racional, sábio e pessoal. Portanto, o cosmos é ordenado, possui leis, e pode ser compreendido pela razão humana — que é imagem do Criador. Isso contrasta fortemente com as cosmovisões panteístas ou mitológicas, onde o mundo é cíclico, arbitrário ou habitado por forças caprichosas.

Sem essa fé no Logos criador, não há razão para crer que a natureza tenha uma ordem inteligível universal e constante, que pode ser descoberta por observação e dedução. A ciência moderna só é possível porque, antes de investigar a natureza, pressupôs-se que ela era investigável — e isso foi uma herança direta do pensamento cristão.

Homens como Bacon, Newton, Kepler e Galileu viam na ciência um modo de glorificar o Criador. O ateísmo cientificista é, portanto, parasitário da teologia cristã, pois toma seus frutos e rejeita suas raízes. A ciência moderna nasceu como filha legítima da fé cristã. E os que hoje a usam contra sua mãe, ou são ingratos, ou ignorantes.

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V. O cristianismo como barreira à revolução cultural

O cristianismo é a barreira mais sólida contra a infiltração revolucionária. A chamada "marcha gramsciana", que visa corroer os fundamentos morais da sociedade para subjugar o indivíduo ao coletivo, encontra sua resistência mais firme nos princípios cristãos. A fé cristã, ao proclamar a existência de uma verdade objetiva, de uma lei moral imutável e de uma dignidade humana que transcende o Estado e o consenso social, imuniza a civilização contra o relativismo e o igualitarismo nivelador do marxismo cultural.

Além disso, o cristianismo é uma tradição milenar, profundamente enraizada no cotidiano das pessoas, não sendo uma novidade a ser imposta ou implementada, mas uma força presente há séculos, que permeia a estrutura social, moral e cultural da sociedade. Sua presença constante nas comunidades, desde os tempos mais antigos, oferece uma resistência robusta contra qualquer tentativa de subverter a ordem natural e moral estabelecida.

Não por acaso, tanto Karl Marx quanto Antonio Gramsci identificaram no cristianismo o principal obstáculo à realização de seus projetos revolucionários. Marx chamou a religião de "ópio do povo" porque sabia que uma alma ancorada em Deus não se submete facilmente ao poder terreno; Gramsci, mais sutil, propôs a destruição da cultura cristã como pré-condição para o triunfo do socialismo. Sem essa âncora transcendente, a sociedade torna-se presa fácil das engenharias sociais que pretendem redefinir arbitrariamente o homem, a família e a liberdade.

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Conclusão

O libertário anticristão, consciente ou não, nega as fundações mesmas do edifício que habita. Ao rejeitar o cristianismo, cava o abismo sob os próprios pés, privando o ideal libertário de sua base moral, cultural e racional. Ele defende a ética voluntária, a liberdade individual e a ordem espontânea, mas sem o solo metafísico e histórico que torna esses princípios inteligíveis e possíveis. É um erro tentar preservar a liberdade em termos absolutos sem reconhecer as raízes cristãs que a sustentam, pois o cristianismo é a única tradição que a legitima e a viabiliza.

Negar o cristianismo é racionalmente insustentável. A liberdade, como a conhecemos, é filha da fé cristã, que oferece a base moral e metafísica que torna a liberdade tanto desejável quanto possível. Mesmo que ateu, o libertário que ama a liberdade deveria, no mínimo, respeitar — e, idealmente, redescobrir — essas raízes cristãs. Pois sem fé, restam apenas o niilismo e o relativismo, que, eventualmente, desaguam na servidão.

Como nos ensina a tradição: Ubi fides ibi libertas — onde há fé, há liberdade.

@ eabee230:17fc7576

⚖️ຢ່າລືມສິ່ງທີ່ເຄີຍເກີດຂຶ້ນ ຮອດຊ່ວງທີ່ມີການປ່ຽນແປງລະບົບການເງິນຈາກລະບົບເງິນເກົ່າ ສູ່ລະບົບເງິນໃໝ່ມັນເຮັດໃຫ້ຄົນທີ່ລວຍກາຍເປັນຄົນທຸກໄດ້ເລີຍ ນ້ຳພັກນ້ຳແຮງທີ່ສະສົມມາດ້ວຍຄວາມເມື່ອຍແຕ່ບໍ່ສາມາດແລກເປັນເງິນລະບົບໃໝ່ໄດ້ທັງໝົດ ຖືກຈຳກັດຈຳນວນທີ່ກົດໝາຍວາງອອກມາໃຫ້ແລກ ເງິນທີ່ເຫຼືອນັ້ນປຽບຄືດັ່ງເສດເຈ້ຍ ເພາະມັນບໍ່ມີຢູ່ໃສຮັບອີກຕໍ່ໄປເພາະກົດໝາຍຈະນຳໃຊ້ສະກຸນໃໝ່ ປະຫວັດສາດເຮົາມີໃຫ້ເຫັນວ່າ ແລະ ເຄີຍຜ່ານມາແລ້ວຢ່າໃຫ້ຄົນລຸ້ນເຮົາຊຳ້ຮອຍເກົ່າ.

🕰️ຄົນທີ່ມີຄວາມຮູ້ ຫຼື ໃກ້ຊິດກັບແຫຼ່ງຂໍ້ມູນຂ່າວສານກໍຈະປ່ຽນເງິນທີ່ມີຢູ່ເປັນສິນສັບບໍ່ວ່າຈະເປັນທີ່ດິນ ແລະ ທອງຄຳທີ່ສາມາດຮັກສາມູນລະຄ່າໄດ້ເຮັດໃຫ້ເຂົາຍັງຮັກສາຄວາມມັ້ງຄັ້ງໃນລະບົບໃໝ່ໄດ້.

🕰️ໃຜທີ່ຕ້ອງການຈະຍ້າຍປະເທດກໍ່ຈະໃຊ້ສິ່ງທີ່ເປັນຊື່ກາງໃນການແລກປ່ຽນເປັນທີ່ຍ້ອມຮັບຫຼາຍນັ້ນກໍຄືທອງຄຳ ປ່ຽນຈາກເງິນລະບົບເກົ່າເປັນທອງຄຳເພື່ອທີ່ສາມາດປ່ຽນທອງຄຳເປັນສະກຸນເງິນທ້ອງຖິ່ນຢູ່ປະເທດປາຍທາງໄດ້.

🕰️ຈາກຜູ້ດີເມື່ອກ່ອນກາຍເປັນຄົນທຳມະດາຍ້ອນສັບສິນທີ່ມີ ບໍ່ສາມາດສົ່ງຕໍ່ສູ່ລູກຫຼານໄດ້. ການເກັບອອມເປັນສິ່ງທີ່ດີ ແຕ່ຖ້າໃຫ້ດີຕ້ອງເກັບອອມໃຫ້ຖືກບ່ອນ ຄົນທີ່ຮູ້ທັນປ່ຽນເງິນທີ່ມີຈາກລະບົບເກົ່າໄປສູ່ທອງຄຳ ເພາະທອງຄຳມັນເປັນສາກົນ.
ໃຜທີ່ເຂົ້າໃຈ ແລະ ມອງການໄກກວ່າກໍ່ສາມາດຮັກສາສິນສັບສູ່ລູກຫຼານໄດ້ ເກັບເຈ້ຍໃນປະລິມານທີ່ພໍໃຊ້ຈ່າຍ ປ່ຽນເຈ້ຍໃຫ້ເປັນສິ່ງທີ່ຮັກສາມູນລະຄ່າໄດ້ແທ້ຈິງ.

🕰️ເຮົາໂຊກດີທີ່ເຄີຍມີບົດຮຽນມາແລ້ວ ເກີດຂຶ້ນຈິງໃນປະເທດເຮົາບໍ່ໄດ້ຢາກໃຫ້ທັງໝົດແຕ່ຢາກໃຫ້ສຶກສາ ແລະ ຕັ້ງຄຳຖາມວ່າທີ່ຜ່ານມາມັນເປັນແບບນີ້ແທ້ບໍ່ ເງິນທີ່ລັດຄວາມຄຸມ ເງິນປະລິມານບໍ່ຈຳກັດ ການໃຊ້ກົດໝາຍແບບບັງຄັບ. ຖ້າຄອບຄົວຫຼືຄົນໃກ້ໂຕທີ່ຍູ່ໃນຊ່ວງເຫດການນັ້ນແຕ່ຕັດສິນໃຈຜິດພາດທີ່ບໍ່ປ່ຽນເຈ້ຍເປັນສິນສັບ. ນີ້ແມ່ນໂອກາດທີ່ຈະແກ້ໄຂຂໍ້ຜິດພາດນັ້ນໂດຍຫັນມາສຶກສາເງິນແທ້ຈິງແລ້ວແມ່ນຍັງກັນແທ້ ເວລາມີຄ່າສຶກສາບິດຄອຍ.

fiatcurrency #bitcoin #gold #history #paymentsolutions #laokip #laostr

@ 805b34f7:3620fac3

Humans are evolving with social media & devices. These are powerful tools, but neither is built with their users' health and well-being in mind.

The big tech business incentives are a higher priority than their users' health & well being. This results in their products being designed to capture as much attention from you as possible so they can profit.

Many are realizing this. Few know there are emerging, viable alternatives.

Nostr is a new model for social media (and much more).

Bitcoin is a new model for money.

nostr:nprofile1qyt8wumn8ghj7ct49eex2mrp09skymr99ehhyecpp4mhxue69uhkummn9ekx7mqqyr4aa6ffghhs22pmuzkrmcjhslyp56jc5y84druuddsanh238td66va34er is a new model for computers.

This article will explain why Nostr is primed to be the new model for social media.

“We cannot have a society in which, if two people wish to communicate, the only way that can happen, is if it’s financed by a third party who wishes to manipulate you” - Jaron Lanier

What is Nostr? What is Primal?

I’ve done a wonderful job of confusing people by interchanging the words Nostr & Primal. So allow me a brief, high level explanation.

Nostr is an internet protocol that allows for censorship resistant social media.

An internet protocol is a set of rules that computers follow to communicate with each other.

Nostr stands for Notes & Other Stuff Transmitted by Relays.

Primal is an app built on Nostr. I work for Primal the company.

When you post to Primal, you can see your content in other Nostr apps. Primal doesn’t own you, your content or identity. You do. You can take your content and followers to any Nostr app.

In this gif, you can see my content in 5 different Nostr apps.

Nostr is like email, but for social media—it’s a system where anyone can send and receive posts using any app they like. Similar to how you would send an email to everyone you know. Everyone will receive that email no matter what email service provider they’re using (yahoo, gmail, proton, apple etc).

When you “create an account” on Primal, you create a password that you can use to log in to any Nostr app. Your password is called a private key and you can use that to log in to any apps that are built on Nostr. See them here at nostrapps.com.

All this may sound a bit confusing, but this is just what's going on under the hood. Primal will feel like any other social media app. Check out this image below to learn more and be sure to keep your private key (your password) safe!

#### How I got into Nostr

Long story short, if you’ve been in to Bitcoin, you at least know about Nostr. I used Twitter as my primary news/Bitcoin source for the past 8 years and followed the Trump and Covid dramas closely. 

I’ve come to the conclusion that social media needs to be protocol based and decentralized.

The first Nostr conference in March of 2023 was in Uvita, Costa Rica. I was living in the area, so of course I showed up. Here’s a brief video we made from the conference.

Why I'm Stoked on Nostr

The Everything App for Social Media

This is the original idea that made the lightbulb in my head go off. 1 identity for all types of content.

I have accounts on Youtube, Twitter, Nostr, Instagram, TikTok, & Medium. That means 6 different logins, 6 different follower sets, and 6 places to post when I have something to share.

With Nostr, I have 1 identity, 1 follower set, & (potentially) 1 place to post each type of content.

On the Left - 5 apps, 5 identities. Right - 5 apps, 1 identity

The Nostr apps are in their infancy, but I can imagine a future with more diverse apps specified by content type (blogs, long form vid, vertical vids, music, etc.).

The ability to post all of your content to (potentially) one app and giving your audience the choice to consume that content in whatever app they please is revolutionary.

X wants to be the everything app as well. It looks like it's heading towards becoming the WeChat of the West. This begs the question... Does the infrastructure for social media need to be owned by singular corporations or governments?

Check out this video where nostr:nprofile1qyxhwumn8ghj7mn0wvhxcmmvqyehwumn8ghj7mnhvvh8qunfd4skctnwv46z7ctewe4xcetfd3khsvrpdsmk5vnsw96rydr3v4jrz73hvyu8xqpqsg6plzptd64u62a878hep2kev88swjh3tw00gjsfl8f237lmu63q8dzj6n & nostr:nprofile1qyt8wumn8ghj7ct5d3shxtnwdaehgu3wd3skueqpz4mhxue69uhk2er9dchxummnw3ezumrpdejqqgyymmnwvah9hdnmft2wqsk0wr9as6q32hd4xk2zlnr2q5ectznjgqd27v94 discuss everything apps during the 2nd Nostr conference in Japan.

Nostr is the tool to orange pill the world

Orange pilling is a slightly cringe term used to describe educating people about Bitcoin. In Nostr, we say purple pilling because for some reason, Nostr’s theme is purple.

Jargon aside, the reason I believe that Nostr will orange pill the world is because of zaps!

Zaps are micropayments of bitcoin. You can send zaps on posts as easily as you can send likes on posts with Primal’s built in wallet and creators keep 100% of what they earn. They’re the best way to really feel the Nostr difference. 

Here’s an example of me zapping 210 sats to a few people with one click.

I've now personally watched over 20 people receive and send their1st Bitcoin transactions minutes after downloading Primal. Right away you pop two cherries, owning Bitcoin and sending Bitcoin. Pretty rad. 

It's a fundamentally different experience to touch Bitcoin through a social media style app than it is to buy bitcoin from an exchange. Someone new on Primal immediately has a use case for Bitcoin upon downloading the app. Zaps!

Nostr is known as the Bitcoiner social network. It could be/is becoming the place for newbies to come learn about Bitcoin, and interact with people who can help teach. I see a massive opportunity for Primal to play a huge role in this transition to a bitcoin standard.

I wonder how often this scenario with nostr:nprofile1qyxhwumn8ghj7mn0wvhxcmmvqyv8wumn8ghj7mn0wd68ytn0wpjku6r0danxgtnwdsqzpq8gr333mlm73rnsfv2uvsrtvg44l5l5r0qrn6c0fw08t5hkccwarhnfev will repeat. Also, check out this video about how zaps got nostr:nprofile1qyxhwumn8ghj7mn0wvhxcmmvqyw8wumn8ghj7mn0wd68ytnzd96xxmmfdejhytnnda3kjctvqqstkm5tw5w2f2qg2zp0tzxk9junagtrqeayyxnzggqcphgec9p37ncc26xj6 to read The Bitcoin Standard.

Micropayments on the internet are only possible with digitally native money.

Zaps are signal. They’re pure life force energy given to another person in appreciation for their content and it's unique to Nostr.

Social media is simply better with payments. You cannot unsee or unfeel this. We're only beginning to scratch the surface of what zaps mean to a social network. Should be fun :)

Sovereignty

Today, our digital lives are owned. Our data, identity, and content can be taken away.

Nostr flips this. We own our identity & choose where our data lives. Companies no longer have singular control over the flow of information.

Bitcoin gives you private keys for money. Nostr gives you private keys for speech.

On X and Instagram, we make a username and password. We are renting these identities from these corporations. How do we know these identities are not yours? Because they can be taken away from you.

With Nostr, you and only you have your keys. You can post anytime, from any app, using your own key. If Primal stops working, no big deal. You could post from other Nostr apps.

I believe there’s something deeper going on here. Humans are sovereign beings. Being sovereign means being in full control. 

With Nostr & Bitcoin, we can be in complete control of our money & speech. 

These tools empower humans and reduce our need for dependence on 3rd parties.

Nostr allows us to create & share freely without the potential of being silenced for “wrongthink”. 

It’s time for those who care about sovereignty to build their brands on their own land.

Nostr is Organic

Facebook wanted to connect the world. They’ve done an absolutely fantastic job at this. But at what cost? 

The ad model has been the best way for platforms to monetize their services. This leads to bad incentives. Social media sites need you to spend as much time as possible on their apps so that they can sell your attention to advertisers. 

Maybe there’s more ethical ways to advertise that do not lead to perverse incentives, but this isn’t the point. 

Now, social media is basically a dopamine slot machine serving us things that we’re most likely to engage with. Whatever we lend our eyes to, purposefully or not, is the content we’re fed. Engagement is the north star of current social media. This modifies the behavior of everyone on the app. 

These algorithms have been weaponized at times. And many would say that they’re programming us.

Let me speak in meme for a moment here:

It’s different on Nostr

After using Nostr for a couple years, it’s clearer to me when I switch to another social media platform that they are doing everything they can to grab my attention. They being the platform and the creators. I can feel when people create for an algo vs. for an audience. 

With Primal, I can select which algorithm I want to use or create my own feeds using Primal’s advanced search. (I expect these tools to get much better over time.) This gives the user much more control over what they see vs a singular algorithm. Algorithmic choice is something that legacy social media platforms are greatly missing.  

I can also control which feed I want to see when I open the app. For example, I created this feed of one person saying “STAY FOCUSED CHAMP” so when I open the app I’m not immediately distracted.  Look at what instagram does when you want to simply search for someone’s account…

I can’t help but envision a world where all of the content is posted to Nostr. The apps with the best user experiences would win. I’d imagine the winners would have the best algos, least intrusive ads, and would give their users the most control over their experience.

Thought Experiment

Pretend you’re a super intelligent being looking down upon the earth. 

The1st thing you’d notice is that they’re always staring at their phones. You’d also notice that while they have an abundant earth, they insist on chemically altering their food which is making them sick. 

Then, you’d notice that the money humans work their entire lives for can be and is manipulated by central authorities with zero effort. 

And, you’d notice that the “digital global town square” is owned by a unelected, fallable humans and corporations.\ It’s laughable! 

It doesn’t have to be this way anymore. And it’s up to us to change it.

To conclude.

This article is not meant to trash talk other platforms, those who use them, or those who created them. I use them daily. Mostly to advocate for Nostr & Bitcoin these days.

These platforms have created a ton of value for the world, & Nostr can be used alongside of them.

Maybe if Nostr existed back then, they would’ve built on it. 

“We shape our tools, and thereafter our tools shape us”. We’ve learned priceless lessons from the evolution of social media thus far. We can use these lessons to shape tools with our health & well-being as our first priority. 

We can obsolete these outdated, unhealthy systems. 

Nostro and Nuestro mean 'ours' in Italian & Spanish. I don't think this a coincidence. Nostr is our chance to create a better internet for our future generations.

pura vida

(meme cred nostr:nprofile1q9n8wumn8ghj7enfd36x2u3wdehhxarj9emkjmn99ah8qatzx9kx2mrtdqeks6rcwuukserhd33hq6ekwyuhgvrcwsukvdme0fjnq7fsdeuxz7nk0fck5mtjv5ehqwfc0qehxargddm8j73lvfex7ctyvdshxapaw3e82egpp4mhxue69uhkummn9ekx7mqqyrl8767x7uecka4mlqxmgq4duev48cst9u37vm5fsgztv0xyy5u6xs34wwg also check out his nostr doc )

@ 005bc4de:ef11e1a2

Hostr

Hive + Nostr = Hostr, a bidirectional bridge.

Hostr is a bidirectional bridge between Nostr and Hive. What you post on one is automatically cross-posted to the other. (See SETUP.md if you want to jump right in and run it.)

This is experimental. Expect that there will be glitches, errors, and corrections to be made. So, consider it very beta, with no guarantees, and use at your own risk.

Nostr and Hive have differences, mainly, Nostr is a protocol and Hive is a blockchain. Nostr does not have a token, although bitcoin is much-loved and used across Nostr. Hive has two main tokens: HIVE and the HBD stablecoin. More importantly, Nostr and Hive have similarities. Both are decentralized and censorship resistant thanks to users owning and controlling their own private keys.

Nostr users - why you might want to bridge to Hive

I feel the #1 reason a Nostr user might wish to use this bridge is to permanently store and chronicle your Nostr notes.

1. Immutability for your Nostr notes. Your notes on Nostr are held on relays; if they go away, your notes go away. (There was a “nosdrive.app” backup, however I do not believe it’s still working.) Hive is immutable. There is no "delete" and even an “edit” on Hive does not erase the original. Like with a wiki page, a Hive edit shows the most recent version, but the original still remains historically. This would give Nostr users a permanent record of their notes in chronological order.

2. Hive is an excellent long form blogging platform with stable and persistent links. Finding old Nostr notes can be difficult.

3. Increase your reach and potentially gain followers. Your content will bridge off of the Nostr island and be opened to 10-30,000 daily Hive users. Go to https://peakd.com/c/hive-133987 and look for “Hive statistics” to see numbers.

4. Earn rewards in HIVE and HBD. “Likes” on Nostr do not reward you monetarily, but every upvote on Hive yields rewards. For bitcoin maxis, these tokens can easily be swapped into sats with tools like the https://v4v.app web app, or others.

5. Help grow Nostr. Every note that bridges over to Hive will have a footer saying something like, “This note originated on Nostr,” with a link back to your Nostr note on njump.me. On that page, a "Join Nostr" button is prominent.

Hive users - why you might want to bridge to Nostr

1. Increase your reach and potentially gain followers. Your content will be bridged off the Hive island and be opened to 17-18,000 daily users. See https://stats.nostr.band for Nostr stats.

2. Earn bitcoin sats in the form of “zaps.” Nostr does not have a token. But, it has a strong culture of zapping (tipping) bitcoin satoshis to other users to reward quality content. Memes are loved and often zapped too.

3. Unlimited posting. Nostr is not held back by posting or activity limitations, such as with Resource Credits or community norms that frown on posting too often.

4. Even more censorship resistance. Hive is truly censorship-free in that posted content, no matter the content, does indeed posted. However, front ends can choose to show or not show content that the community has downvoted. Nostr is more free speech or censorship resistant...you post it, it's posted. (Relays can choose to relay it or not, accept it or reject it, but you could run your own relay.)

5. Help grow Hive. Every post that bridges over to Nostr will have a footer saying something like, “This post originated on Hive,” with a link back to your Hive blockchain post. This brings wider exposure to Hive.

Quirks about Nostr and Hive

If you’re unfamiliar with Nostr, it has a few quirks:

• You have one private key, called an “nsec”. It goes along with your “npub”, your public key. Your npub is your username, your nsec IS your account.

• You simply need an nsec, then a “client” which is a front end.

• You need to add “relays” to your client in order to connect. This is very easy, but how to do it depends on the client. Client's usually walk you through this when you start.
• Short form content (like the old "Tweets") are called kind 1 notes. Long form notes, like most Hive posts, are called kind 30023.

If you’re unfamiliar with Hive, it has more quirks:

• Hive has five private keys, yes, five. Each has a specific purpose. From least powerful to most powerful, they are: posting key (to post), active key (to move tokens), owner key (to do anything), memo key (to dm/pm), and backup/master private key (to totally restore all keys). Don’t worry about all the keys. For Hostr, we only deal with posting notes/posts, so the posting key is all we deal with.

• Hive has a culture of frowning on posting too often. Doing so can be seen as trying to milk the HIVE/HBD rewards that you gain from upvotes. Too much posting can be viewed as spamming and result in downvotes (this hurts your Web-of-Trust score, called “reputation” on Hive, and is shown alongside your username; you want to grow and keep your reputation up). The chain also has a 5-minute cool-down rule coded in: after posting, you cannot post for another five minutes.

• Additionally, to avoid spam, Hive actions burn “Resource Credits” or RCs. Think of RCs as the charge % in your phone battery. Every action on Hive uses RCs, so they dwindle with every use. Posting is high in RC cost. Bad news: if you run out of RCs, you’re unable to do things on Hive. Good news: RCs also recharge. If out of RCs, you can wait and then do things later. For the Hostr script, over-posting means the script will post until RCs are exhausted, then it will stall until RCs are recharged, post again, stall, etc. You can check your RCs in many places, such as a Hive explorer like https://hivescan.info and entering your Hive username. If you have RC issues, reach out for help.

You don't want to over-post on Hive. To avoid over-posting, Hostr has two versions of the script:

1. bidirectional-longform30023.js

   • Nostr ➡️ Hive - Listens only for kind 30023 (long form) Nostr notes to bridge over to Hive. Kind 1 short form notes are ignored.
   • Hive ➡️ Nostr - Any Hive post over 380 characters gets truncated as a kind 1 (short form) Nostr note (with a link back to the full Hive post).

2. bidirectional-bridge.js

   • Nostr➡️Hive - This script listens for both kind 1 (short form) and kind 30023 (long form) Nostr notes and bridges both over to Hive.
   • Hive ➡️ Nostr - Same as above (380+ is truncated).

Which script version should I use?

1. If you post frequently on Nostr (more than 2 times per day?), the bidirectional-longform30023.js script is likely best. Per Hive community norms, you don't want to post too often on there. With this script version, only long form notes will bridge over from Nostr to Hive.
2. For newcomers to Hive, I would start with this script to be safe.

3. If in doubt, use this script.

4. If you post infrequently on Nostr (2 times per day or fewer?), the bidirectional-bridge.js (both kinds 1 and 30023) might work fine for you.

Nostr users - how to begin

You’ll need a Hive account. You can see sign-up options at https://signup.hive.io. Some options are free, others are not. I (crrdlx) have some free “VIP tickets” to sign up with and you are welcome to use one if you wish, see https://crrdlx.vercel.app/hive-vip-ticket.html. If the tickets there are already spent, contact me and I'll get you set up.

As with Nostr, the critical thing with a Hive account is saving your keys. Hive has multiple keys, just save them all. We’ll only use the “posting key” for the Hostr bridge, however. The other keys can be used on Hive if you wish. (For instance, the "active key" is used to handle your HIVE/HBD rewards earned, the "memo key" for private messages.)

Once signed up (and keys are safe), you can adjust your Hive account/profile using any Hive front end like https://peakd.com/username, https://ecency.com/username, or https://hive.blog/username. Just remember, every action on Hive burns RCs, keep an eye on that.

You can learn more about Hive at https://hivewiki.vercel.app if you wish.

See the "Setting up..." section below to set up the bridge.

Hive users - how to begin

You’ll need a Nostr account. Getting a Nostr "account" is nothing more than generating keys. A simple way to do this is at https://nstart.me If you wish to dig into details, take a look at http://nostrwiki.crrdlx.infinityfreeapp.com/doku.php?id=wiki:get-started

As with Hive, you simply need to safely store your private keys. On Nostr, your private key is called your “nsec” (sec, as in “secret”). Your public key is your “npub” (pub, as in "public"). Your nsec is all you need, but just so you know, your private key comes in two formats: (a) your nsec, and (b) the “hex” form (same key, just different forms). With the Hostr bridge, we’ll use the hex private key. Depending on how you join Nostr, your hex key may be given to you at sign up. But, even if it's not, you can always check back-and-forth between nsec and hex keys using a tool like https://nostrtool.com and choosing "Load a privkey from nsec/hex".

Again, just save your nsec and/or hex private key and you’re set.

You can learn more about Nostr at https://nostrwiki.vercel.app if you wish.

See the "Setting up..." section below to set up the bridge.

Setting up the Hostr bridge

To set up the bridge, see SETUP.md in the repo below. The Hostr bridge has a bit of technicals behind it, but don't get intimidated. Because technical things change, I’ll keep the technical how-to instructions housed at https://github.com/crrdlx/hostr

Disclaimer

This is an experimental bridge. Expect that there will be glitches, errors, and corrections to be made. So, consider it very beta, with no guarantees, and use at your own risk. Source code: https://github.com/crrdlx/hostr

---

Built with ❤️ by crrdlx

Connect on Hive: @crrdlx

Connect on Nostr: nostr:npub1qpdufhjpel94srm3ett2azgf49m9dp3n5nm2j0rt0l2mlmc3ux3qza082j

All contacts: https://linktr.ee/crrdlx

@ 5d4b6c8d:8a1c1ee3

Using a discussion style post to get better formatting on the nostr cross-post.

The Fed Leaves Fed Funds Rate at 4.5% as Economic Storm Clouds Gather

by Ryan McMaken

The Fed is now hemmed in by a rising risk of stagflation. It doesn’t know where the economy is headed, or is unwilling to take a position. At this point, “hope for the best” is Fed policy.

originally posted at https://stacker.news/items/975059

@ bbef5093:71228592

Google három fejlett atomerőmű-fejlesztését finanszírozza

A Google megállapodást kötött az amerikai Elementl Power nevű nukleáris projektfejlesztő céggel, hogy legalább három, egyenként 600 MW kapacitású fejlett atomerőmű fejlesztését finanszírozza az Egyesült Államokban. Ezek a projektek a Google és más nagy technológiai cégek növekvő energiaigényét szolgálják ki, különösen az adatközpontok és a mesterséges intelligencia (AI) miatt[7][10][19][16]. A Google a fejlesztés korai szakaszában biztosít tőkét, a projektek befejezése után pedig lehetősége lesz az ott termelt villamos energia megvásárlására. A pontos helyszíneket és a megállapodás pénzügyi részleteit egyelőre nem hozták nyilvánosságra[10][19][16].

A Google célja, hogy működését 24/7, azaz folyamatosan elérhető, szén-dioxid-mentes energiával lássa el, és ezzel hozzájáruljon az elektromos hálózatok stabilitásához is[10][19][6]. Az Elementl Power technológia-semleges, vagyis még nem döntötték el, milyen típusú reaktort használnak, hanem a fejlesztésben legelőrébb járó technológiát választják majd a kivitelezés idején[10][19][16].

Big Tech és az atomenergia: trendek

A Google mellett más nagy technológiai cégek, például a Microsoft, az Amazon és az Oracle is elkötelezettek az atomenergia mellett, hogy adatközpontjaik számára megbízható, alacsony szén-dioxid-kibocsátású áramot biztosítsanak[15][11][20]. A Google például a Kairos Power nevű céggel is együttműködik kis moduláris reaktorok (SMR) fejlesztésében, amelyek első példányai 2030 körül állhatnak üzembe[1][2][3][17][8]. Az SMR-ek előnye, hogy gyorsabban és olcsóbban telepíthetők, mint a hagyományos nagy atomerőművek, és rugalmasabban illeszthetők az energiaigényekhez[2][3][1].

Pallas kutatóreaktor Hollandiában

Hollandiában befejezték az új Pallas kutatóreaktor alapozását és munkagödrét, ami jelentős mérföldkő a projektben. A reaktor az orvosi radioizotópok előállításában játszik majd kulcsszerepet, több millió beteg ellátását biztosítva világszerte, főként daganatos és szív-érrendszeri betegségek diagnosztikájában és terápiájában. A Pallas reaktor a jelenlegi, 1961 óta működő High-Flux Reactort (HFR) fogja felváltani[forrás: eredeti szöveg].

Finn SMR fejlesztés: demonstrációs üzem

A finn Steady Energy vállalat nem-nukleáris demonstrációs üzemet épít a helsinki Salmisaari B széntüzelésű erőmű helyén, hogy bemutassa LDR-50 típusú kis moduláris reaktorának (SMR) alkalmasságát távhőtermelésre. A projekt célja, hogy a fosszilis energiahordozókat alacsony kibocsátású technológiával váltsa fel a városi távhőrendszerekben[forrás: eredeti szöveg].

Urán és nukleáris üzemanyag: amerikai fejlesztések

Az amerikai Uranium Energy Corp (UEC) és a Radiant Industries megállapodást kötött amerikai eredetű urán szállításáról, hogy támogassák a Radiant Kaleidos mikroraktorok elterjedését. Ezek a mikroraktorok 1 MW teljesítményűek, szállíthatók, és 2028-tól kezdődhet a kereskedelmi alkalmazásuk[forrás: eredeti szöveg].

A Global Laser Enrichment (GLE) Észak-Karolinában megkezdte a harmadik generációs, lézeralapú Silex urándúsítási technológia demonstrációs tesztjeit. Ez a technológia nagyobb hatékonyságot, alacsonyabb költségeket és rugalmasabb üzemanyaggyártást ígér a jövő atomerőművei számára. A GLE célja, hogy 2028-tól kereskedelmi üzembe helyezze az új dúsítóüzemet Kentuckyban[forrás: eredeti szöveg].

Egyéb hírek röviden

• Az Egyesült Államokban befejezték az ITER szupra­vezető mágnesének utolsó moduljának tesztelését, amely kulcsfontosságú a franciaországi fúziós kísérleti reaktorban.
• Ausztráliában a nukleáris energia bevezetését szorgalmazza egy lobbicsoport, bár jelenleg törvény tiltja az atomerőművek építését.
• Csehországban, a Dukovany atomerőmű bővítésével kapcsolatos szerződéseket írtak alá dél-koreai cégekkel, egy francia bírósági tiltás ellenére.
• 2025 júniusában Zágrábban rendezik meg a European Nuclear Young Generation Forumot, amely a fiatal nukleáris szakemberek legnagyobb európai találkozója lesz[forrás: eredeti szöveg].

---

Hivatkozások:[1][2][3][7][10][16][19] – Google és nukleáris projektek[15][11][20] – Big Tech trendek
További részletek a többi témáról az eredeti szövegben találhatók.

Hivatkozások: [1] A Google 7 atomreaktor megépítését támogatja az MI ... - itbusiness https://itbusiness.hu/technology/aktualis-lapszam/strategy/google-reaktor/ [2] Google új generációs atomreaktorokból vásárol áramot - DinaMix https://dinamix.hu/google-uj-generacios-atomreaktorokbol-vasarol-aramot/ [3] A Google moduláris atomreaktorokat vásárol a saját energiaellátására https://gyartastrend.hu/cikk/a-google-modularis-atomreaktorokat-vasarol-a-sajat-energiaellatasara [4] Az atom vonzza a befektetőket - Atombiztos Blog https://www.atombiztos.org/2025/05/05/az-atom-vonzza-a-befektetoket/125967/ [5] Máris trükköznek az AI-óriások, csak több áramuk legyen https://www.szabadeuropa.hu/a/maris-trukkoznek-az-ai-oriasok-csak-tobb-aramuk-legyen/33167550.html [6] 24/7 Clean Energy – Data Centers - Google https://www.google.com/about/datacenters/cleanenergy/ [7] Google agrees to fund three US nuclear power plants https://business.inquirer.net/524307/google-agrees-to-fund-three-us-nuclear-power-plants [8] Atomreaktorok építését rendelte meg a Google - Telex https://telex.hu/gazdasag/2024/10/14/google-kairos-atomeromu [9] Operating sustainably - Google Data Centers https://datacenters.google/operating-sustainably [10] Google To Commit Funding For Three Advanced Nuclear Power ... https://www.nucnet.org/news/google-to-commit-funding-for-three-advanced-nuclear-power-projects-5-4-2025 [11] Az atomenergia mellett tette le a voksát több technológiai óriás https://www.vg.hu/nemzetkozi-gazdasag/2025/03/atomenergia-technologiai-orias [12] 24/7 Carbon-free Energy Explained - Eavor Technologies https://eavor.com/blog/24-7-carbon-free-energy-explained/ [13] Google agrees to fund the development of three new nuclear sites https://www.reddit.com/r/nuclear/comments/1kh2s7t/google_agrees_to_fund_the_development_of_three/ [14] Téma: Új atomerőművet építtet magának a Google - PC Fórum https://pcforum.hu/tarsalgo/154783/uj-atomeromuvet-epittet-maganak-a-google-nem-is-egyet-hanem-mindjart-harmat [15] Big Tech has cozied up to nuclear energy - The Verge https://www.theverge.com/2024/10/5/24261405/google-microsoft-amazon-tech-data-center-nuclear-energy [16] Google to back development of 3 nuclear sites on data center push https://nypost.com/2025/05/07/business/google-to-back-development-of-3-nuclear-sites-on-data-center-push/ [17] Moduláris atomreaktorokból vásárol energiát a Google - HWSW https://www.hwsw.hu/hirek/68282/google-kairospower-atomreaktor-energia-aram.html [18] What is 24/7 carbon-free energy? - Baseload Capital https://www.baseloadcap.com/what-is-24-7-carbon-free-energy/ [19] Google to fund development of three nuclear power sites https://www.world-nuclear-news.org/articles/google-to-fund-elementl-to-prepare-three-nuclear-power-sites [20] Óriáscégek álltak a nukleáris reneszánsz élére - Világgazdaság http://www.vg.hu/nemzetkozi-gazdasag/2025/03/nuklearis-energia-amazon-google

@ b99efe77:f3de3616

🚦Traffic Light Control System🚦

This Petri net represents a traffic control protocol ensuring that two traffic lights alternate safely and are never both green at the same time.

;start () -> greenLight1 redLight2
;toRed1 greenLight1 -> queue redLight1
;toGreen2 redLight2 queue -> greenLight2
;toGreen1 queue redLight1 -> greenLight1
;toRed2 greenLight2 -> redLight2 queue
;stop redLight1 queue redLight2 -> ()

Places & Transitions

• Places:
• greenLight1: Indicates that the first traffic light is green.
• greenLight2: Indicates that the second traffic light is green.
• redLight1: Indicates that the first traffic light is red.
• redLight2: Indicates that the second traffic light is red.

• queue: Acts as a synchronization mechanism ensuring controlled alternation between the two traffic lights.

• Transitions:

• start: Initializes the system by placing tokens in greenLight1 and redLight2.
• toRed1: Moves a token from greenLight1 to redLight1, while placing a token in queue.
• toGreen2: Moves a token from redLight2 to greenLight2, requiring queue.
• toGreen1: Moves a token from queue and redLight1 to greenLight1.
• toRed2: Moves a token from greenLight2 to redLight2, placing a token back into queue.
• stop: Terminates the system by removing tokens from redLight1, queue, and redLight2, representing the system's end state. petrinet ;start () -> greenLight1 redLight2 ;toRed1 greenLight1 -> queue redLight1 ;toGreen2 redLight2 queue -> greenLight2 ;toGreen1 queue redLight1 -> greenLight1 ;toRed2 greenLight2 -> redLight2 queue ;stop redLight1 queue redLight2 -> ()

@ f1989a96:bcaaf2c1

Good morning, readers!

This week, we bring reports from Bangladesh, where the interim government instructed the central bank to halt the printing of old banknotes featuring Sheikh Mujibur Rahman, the founding president of Bangladesh. This has induced a currency shortage, as new notes have yet to be issued to replace the discontinued ones. As a result, Bangladeshis find themselves holding worthless currency, facing increased costs, and feeling frustrated over such poor currency management. Meanwhile, in Indonesia, citizens are fleeing to gold as the local rupiah currency crashes to record lows amid increasing financial controls from the government.

In open-source news, LNbits, a Bitcoin and Lightning wallet management software, emerged from beta with its v1.0.0 release. LNbits works like a control panel on top of a Bitcoin wallet, letting users divide funds into separate accounts and use different features and functionalities. It is a handy tool for educators, civil society organizations, and communities who want to use Bitcoin for real-world transactions without needing advanced technical skills. We also spotlight a new tool called following .space that allows users to curate and share premade follow packs for nostr. The result is a more straightforward onboarding process for new users interested in censorship-resistant social media and the ability to curate feeds to better suit their interests.

We end with an interview with HRF Chief Strategy Officer Alex Gladstein, who explores his thinking behind the relationship between Bitcoin and human rights as we enter an age of increased corporate and nation-state adoption. He highlights the paradox where Bitcoin, a tool for individual financial freedom, is being adopted by institutions around the world, many of which regularly seek greater control over financial activity. We also include a new report from Bitcoin developer and past HRF grantee, b10c, who documents the current state of Bitcoin mining centralization and the threat it poses to decentralization and censorship resistance.

Now, let’s jump right in!

SUBCRIBE HERE

GLOBAL NEWS

Bangladesh | Currency Shortage as Central Bank Halts Printing of Banknotes

A state-induced cash crunch is paralyzing Bangladesh after the interim government, led by Muhammad Yunus, ordered the central bank to discontinue old banknotes featuring Sheikh Mujibur Rahman, the founding president of Bangladesh. New cash is expected to be printed in phases beginning in May. But Bangladeshis report they are currently stuck with old and unusable currency, as the national mint has yet to issue replacement currency and lacks the capacity to print more than three notes at a time. Meanwhile, public ATMs continue to dispense old and worn-out banknotes, with merchants reluctantly accepting them and banks refusing to exchange them. Through all this, the central bank of Bangladesh sits on nearly 15,000 crore taka ($1.28 billion) worth of old notes in vaults, but the interim government has refused to release them, deepening public frustration.

Nigeria | Regulates Bitcoin as a Security

Nigerian lawmakers are moving to regulate digital assets as securities by passing the Investment and Securities Act (ISA) 2025. Rather than embrace it as a tool for financial freedom, the law places Bitcoin under the purview of the Nigerian Securities and Exchange Commission (SEC). Companies must now register with the Nigerian SEC, implement more strict data-collection processes (to harvest personal information), and navigate a legal framework not designed for a borderless and permissionless technology like Bitcoin. The law further grants the SEC access to data from telecom and Internet providers to investigate “illegal market activity” — a provision that could easily be abused to surveil or intimidate Bitcoin users and developers. Nigeria routinely uses regulations to stifle the presence of open-source money, raising compliance hurdles, imposing taxes, and punishing digital asset companies. It’s not unreasonable to suspect this new classification could provide the state with a means to suppress the free adoption and innovation of Bitcoin.

Indonesia | Gold Rush Amid Economic Uncertainty

As the rupiah currency falls to record lows, Indonesians are flocking to gold in a rush to protect their savings. But gold isn’t the only safe haven. With 74% of Indonesia’s population unbanked or underbanked, digital tools like Bitcoin offer a more accessible alternative, especially when nearly 70% of Indonesians have Internet access. The Indonesian government is also tightening capital controls. A new policy forces exporters to keep all foreign currency earnings inside the country for a full year to trap dollars in the financial system. HRF grantee Bitcoin Indonesia is responding by helping people in the region (especially in nearby states like Burma) build financial resilience through meetups, workshops, and training focused on Bitcoin custody, privacy, and adoption. In an area where financial services remain out of reach for millions, learning how to save and transact permissionlessly is paramount.

Kenya | Introduces Legal Framework for Virtual Asset Service Providers (VASPs)

Kenya’s government introduced a comprehensive legal framework to regulate Virtual Asset Service Providers (VASPs) through its newly proposed 2025 VASP Bill. The legislation outlines strict licensing requirements for digital asset exchanges, wallet providers, brokers, and other digital asset firms. It functionally bars individuals from operating independently (think: open-source freedom tech builders) by mandating local incorporation, compliance with cybersecurity standards, and approval from financial regulators. This appears to be an attempt to formalize and better control the rapidly growing digital asset space. It could stifle grassroots innovation and limit access to financial tools that have become vital for activists and citizens seeking privacy and autonomy as economic policies and high inflation drive unrest.

El Salvador | Attorney General’s Office Preparing Arrest Warrants for Independent Journalists

El Faro, one of El Salvador’s most prominent investigative news outlets, shared reliable information that the Salvadoran Attorney General’s Office is preparing arrest warrants against three of its journalists. The warning came from El Faro director Carlos Dada, who suggests that the charges may include “apology for crimes” and “illicit association.” The alleged charges allegedly stem from El Faro’s latest reporting: a three-part video interview with former leaders of the 18th Street Revolucionarios gang that sheds light on Bukele’s “years-long relationship” with Salvadoran gangs. El Faro editor-in-chief Óscar Martínez said that any arrests or home raids following this news would be “for having done journalism.” With El Salvador’s shrinking civic space, this potential action against independent media would further restrict Salvadorans’ ability to access independent information and hold officials accountable.

BITCOIN AND FREEDOM TECH NEWS

LNbits | Emerges from Beta with v1.0.0 Release

LNbits, an open-source software tool that lets people create and manage Bitcoin Lightning wallets securely for themselves and for others, officially launched version 1.0.0, marking its transition out of beta and into a more stable release for public use. It works like a control panel sitting on top of a Bitcoin wallet, letting users divide funds into separate accounts and use different features and functionalities. LNbits is especially useful for educators, small businesses, and community organizers who want to use and manage Bitcoin for payments and savings. HRF is pleased to see this Bitcoin Development Fund (BDF) grantee strengthen the tools available to activists to achieve financial freedom in the face of censorship, surveillance, or inflation.

SeedSigner | Self-Custody Tool for Chinese Bitcoiners Facing Local Corruption

Chinese Bitcoin users are turning to SeedSigner, an open-source and fully customizable Bitcoin hardware wallet, as a more private way to protect their savings from law enforcement corruption. While many assume the primary threat to Bitcoin in China comes from top-down management and enforcement from the Chinese Communist Party (CCP), new reports suggest greater concern over the police, who regularly monitor mail, detect hardware wallet purchases, and fabricate charges to extort Chinese users’ Bitcoin. SeedSigner solves this by allowing users to assemble a secure signing device from generic, inexpensive parts, avoiding the risk of shipping a branded wallet that might flag them as a target. When privacy violations begin at the local level, SeedSigner can help citizens safeguard their financial freedom by making secure self-custody discreet, accessible, and affordable.

Following .space | Create and Share Follow Packs on Nostr

Following.space is a new tool for nostr that solves one of the protocol’s biggest pain points: finding people worth following in the absence of an algorithm. Created by developer and HRF grantee Calle, the tool lets anyone build and share curated “follow packs” — pre-made lists of nostr users that can be easily distributed across the web. The lists are customizable and can be made based on shared interests, communities, organizations, regions, and more. This makes onboarding new users easier and allows users to curate their feeds to suit their interests. The result is a simple but powerful tool that helps nostr scale more organically by encouraging natural discovery. Enabling free expression and connections without reliance on centralized platforms strengthens human rights and financial freedom in repressive environments. Try it here.

256 Foundation | Releases Ember One Source Code

The 256 Foundation, an open-source Bitcoin mining initiative, released the source code of its new Ember One Bitcoin mining hashboard to the public. A Bitcoin hashboard is a device with multiple chips for performing Bitcoin mining computations. The open-source Ember One only consumes 100 Watts of total power and is modular by design, allowing user customization and the ability to mine discreetly even under autocratic regimes. This is important because it gives individuals a way to access and earn Bitcoin without drawing the attention of officials. For dissidents, mining at home means gaining more control over how they earn, spend, and store their money, all without relying on centralized systems at the whims of dictators.

Btrust and Africa Free Routing | Announce Partnership to Advance African Bitcoin Development

Btrust, a nonprofit advancing Bitcoin development in Africa, awarded a grant to Africa Free Routing, a program within African Bitcoiners, to support five Bitcoin Lightning-focused developer boot camps across the continent in 2025. These bootcamps aim to onboard non-Bitcoin developers into the Bitcoin ecosystem, offering hands-on training, mentorship, and opportunities to contribute to open-source projects. This work strengthens the foundations of freedom tech in Africa, providing tools that allow people to resist financial repression under tyranny. Learn more about the partnership here.

Presidio Bitcoin | Hosting First Hackathon

Presidio Bitcoin, the Bay Area’s first dedicated freedom tech co-working and events space, just announced its first-ever hackathon, which will take place from May 16-17, 2025. This 24-hour hackathon in San Francisco brings together developers and technologists to build and collaborate at the frontier of Bitcoin, AI, and open-source technology. In addition to the hackathon, Presidio is launching a new program offering free three-month access to its workspace for Bitcoin open-source contributors. This is a valuable opportunity to connect with fellow developers, startup founders, and freedom tech advocates in the area. HRF is proud to sponsor this hackathon and is looking forward to how the outcomes might help create better freedom tools for dissidents worldwide. Learn more about the event here.

RECOMMENDED CONTENT

Bitcoin Nation State Adoption Paradox - Interview with Alex Gladstein

In a recent episode of the Bitcoin Fundamentals podcast, hosted by Preston Pysh, Alex Gladstein, HRF’s chief strategy officer, discusses the complexities of Bitcoin’s new era of adoption. He highlights the paradox where Bitcoin, a tool for individual financial freedom, is being adopted by governments, which some believe to be potentially compromising to its core principles. He emphasizes that while governments may adopt it for strategic or economic reasons, in doing so, they expose their populations to a technology that will ultimately weaken state control over money and advance individual liberty and human rights. Watch the full interview here.

Bitcoin Mining Centralization by b10c

In this report, Bitcoin developer and past HRF grantee b10c documents the growing trend of centralization in Bitcoin mining pools. It shows that over 95% of blocks are now mined by just six Bitcoin mining pools, with Foundry and AntPool controlling roughly 60–70% of the hashrate (the computing power dedicated to the Bitcoin network). This marks a rise in mining pool centralization in recent years. While this hasn’t harmed Bitcoin’s censorship resistance yet, it reduces the number of block template producers. This concentration of template producers poses a potential risk to Bitcoin’s neutrality, which is essential for ensuring access to uncensorable money and protecting human rights in autocratic regimes. HRF has happily supported both Hashpool and Public Pool with recent grants to support smaller, independent pools that help preserve Bitcoin's decentralization. Read the full report here.

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@ 5383d895:7b141166

LOVE678 là một nền tảng giải trí trực tuyến hiện đại, được thiết kế để mang đến cho người dùng những trải nghiệm thú vị, an toàn và dễ dàng tiếp cận. Giao diện của nền tảng này rất thân thiện với người dùng, giúp mọi người có thể dễ dàng tìm kiếm các dịch vụ mà mình cần một cách nhanh chóng và thuận tiện. Từ việc truy cập vào các tính năng giải trí cho đến việc quản lý tài khoản, mọi thao tác trên LOVE678 đều được tối ưu hóa để đảm bảo người dùng không gặp phải bất kỳ sự phức tạp nào. Bên cạnh đó, LOVE678 cũng cung cấp tốc độ truy cập nhanh chóng, ổn định trên nhiều thiết bị, từ máy tính để bàn đến điện thoại di động, giúp người dùng có thể tận hưởng dịch vụ mọi lúc, mọi nơi mà không gặp phải sự gián đoạn. Nền tảng này đặc biệt chú trọng đến bảo mật thông tin, với các công nghệ mã hóa tiên tiến giúp bảo vệ dữ liệu người dùng một cách tối ưu. Chính nhờ vào những tính năng vượt trội này, LOVE678 đã và đang trở thành lựa chọn ưu tiên của nhiều người dùng hiện đại.

Không chỉ chú trọng đến sự tiện lợi và bảo mật, LOVE678 còn đặc biệt quan tâm đến việc nâng cao trải nghiệm người dùng thông qua việc cung cấp dịch vụ khách hàng chất lượng cao. Đội ngũ hỗ trợ khách hàng của LOVE678 luôn túc trực 24/7, sẵn sàng giải đáp mọi thắc mắc và xử lý các vấn đề mà người dùng gặp phải trong suốt quá trình sử dụng nền tảng. Người dùng có thể dễ dàng liên hệ với đội ngũ hỗ trợ qua các kênh chat trực tuyến, email hay điện thoại để được giúp đỡ kịp thời. Điều này không chỉ giúp người dùng cảm thấy yên tâm mà còn tạo ra một mối liên kết bền chặt giữa LOVE678 và cộng đồng người sử dụng. Bên cạnh đó, LOVE678 cũng thường xuyên tổ chức các chương trình khuyến mãi, sự kiện và hoạt động giao lưu cộng đồng, tạo cơ hội để người dùng trải nghiệm thêm nhiều dịch vụ hấp dẫn và thú vị. Từ đó, nền tảng này không chỉ là một công cụ giải trí mà còn là một không gian kết nối, giúp người dùng giao lưu, học hỏi và chia sẻ những giá trị hữu ích.

Để đáp ứng nhu cầu ngày càng cao của người dùng, LOVE678 luôn cải tiến và phát triển các tính năng mới, đồng thời không ngừng nâng cấp hệ thống để duy trì sự ổn định và hiệu suất hoạt động. Nền tảng này luôn đặt mục tiêu tạo ra một môi trường trực tuyến an toàn, thú vị và chất lượng, nhằm mang đến những trải nghiệm giải trí tuyệt vời nhất cho người sử dụng. Các tính năng của LOVE678 được thiết kế không chỉ để đáp ứng nhu cầu giải trí mà còn nhằm cung cấp những công cụ tiện ích, giúp người dùng có thể dễ dàng quản lý tài khoản và tối ưu hóa quá trình sử dụng. Với sự cam kết không ngừng phát triển và nâng cao chất lượng dịch vụ, LOVE678 đang từng bước khẳng định vị thế của mình trong ngành giải trí trực tuyến, đồng thời tiếp tục xây dựng niềm tin vững chắc trong lòng người dùng. Nền tảng này không chỉ là nơi để thư giãn, mà còn là nơi để kết nối và phát triển, giúp mọi người trải nghiệm những phút giây giải trí đích thực trong một không gian trực tuyến an toàn và tiện lợi.

@ c3e23eb5:03d7caa9

The issue I have with the term "mesh networks" is that it is associated with a flat network topology. While I love the idea of avoiding hierarchy, this simply doesn't scale. Data Plane: How the Internet Scales

The internet on the scales because it has a tree like structure. As you can see in the diagram below, global (tier 1) ISPs branch out to national (tier 2) ISPs who in turn branch out to local (tier 3) ISPs.

``` ,-[ Tier 1 ISP (Global) ]─-───────[ Tier 1 ISP (Global) ] / |
/ ▼
[IXP (Global)]═══╦═══[IXP (Global)]
║
Tier 2 ISP (National)◄──────────╗
/ \ ║
▼ ▼ ║
[IXP (Regional)]════╬══[IXP (Regional)] ║
/ \ ║
▼ ▼ ║
Tier 3 ISP (Local) Tier 3 ISP (Local) ║
| | ║
▼ ▼ ▼
[User] [User] [Enterprise]

▲ IXPs are physical switch fabrics - members peer directly ▲ Tier 1/2 ISPs provide transit through IXPs but don't control them ```

This structure also reflects in IP addresses, where regional traffic gets routed by regional tiers and global traffic keeps getting passed up through gateways till it reaches the root of the tree. The global ISP then routes the traffic into the correct branch so that it can trickle down to the destination IP at the bottom. 12.0.0.0/8 - Tier 1 manages routing (IANA-allocated) └─12.34.0.0/16 - Tier 2 allocated block (through RIR) └─12.34.56.0/24 - Tier 3 subnet via upstream provider ├─12.34.56.1 Public IP (CGNAT pool) └─192.168.1.1 Private IP (local NAT reuse)

Balancing idealism with pragmatism

This approach to scaling is much less idealistic than a flat hierarchy, because it relies on an authority (IANA) to assign the IP ranges to ISPs through Regional Internet Registries (RIRs). Even if this authority wasn't required, the fact that many users rely on few Tier 1 ISPs means that the system is inherently susceptible to sabotage (see 2019 BGP leak incident).

Control Plane: the internet is still described as decentralised

The internet is still described as decentralised because there is a flat hierarchy between tier 1 ISPs at the root of the tree. ``` INTERNET CORE (Tier 1 ISPs)

AT&T (AS7018) <══════════> Deutsche Telekom (AS3320) ║ ╔════════════════════╗ ║ ║ ║ ║ ║ ╚══>║ NTT (AS2914) ║<══╝ ║ ║ ║ ║ ║ ║ ╚═══════> Lumen (AS3356) ║ ║ ╚════╩════════════> Telia (AS1299)

```

The border gateway protocol (BGP) is used to exchange routing information between autonomous systems (ISPs). Each autonomous system is a branch of the "internet tree" and each autonomous system advertises routes to downstream autonomous systems (branches). However, the autonomous systems at the root of the tree also maintain a record of their piers, so that they can forward traffic to the correct peer. Hence, the following is a more complete diagram of the internet: ```

          INTERNET CORE (TIER 1 MESH)  
          ╔══════════════╦═════════════╦════════╦═════════════╗  
          ║              ║             ║        ║             ║  
        AT&T (AS7018) <══╬══> Lumen (AS3356) <══╬══> NTT (AS2914)  
          ║              ║                      ║          
          ║              ║                      ║          
          ║              ╚══> Telia (AS1299) <══╝        
          ║                               ║          
          ╚═══════════════════════════════╝          
          ║                               ║          
          ╚═> Deutsche Telekom (AS3320) <═╝        
                ║                        
   TREE HIERARCHY BELOW - MESH ABOVE  
                ║                     
                ▼  
         [ Tier 1 ISP ]───────────────────┐  
      /           |                       |  
     /            ▼                       ▼ 
   [IXP]═══╦═══[IXP]                    [IXP]  
           ║                              ║  
           ▼                              ▼  
     Tier 2 ISP◄──────────╗           Tier 2 ISP◄───────╗  
    /       \             ║            /     \          ║  
   ▼         ▼            ║           ▼       ▼         ║  
   [IXP]═╦[IXP]           ║          [IXP]═╦[IXP]       ║  
    /     \               ║           /     \           ║  
   ▼       ▼              ▼          ▼       ▼          ▼  
   Tier 3 ISP            User       Tier 3 ISP      Enterprise

```

So its a mesh network - whats wrong with that?

In the example above, NTT can only send traffic to Deutsche Telekom via Lumen or AT&T. NTT relies on its peers to maintain a correct record of the IP range that they are responsible for, so that traffic that was intended for Deutsche Telekom doesn't end up in the wrong network. An intentional or even accidental error in an autonomous system's routing tables can be detrimental to the flow of traffic through the network.

Hence, mesh networks require: * Reliability: peers rely on each-other not to fail (e.g., 2019 AWS US-East-1 availability) * Trust: peers must be honest about address ranges (e.g., 2018 BGP hijacking incident) * Central planning: BGP traffic engineering determines which route a packet takes

Application Layer Innovations

Now that we have a rough overview of how the internet is broken, lets think about what can still be done. The flat hierarchy that we associate with mesh networks sounds beautiful, but it doesn't scale. However, the tree-like structure assumes that most participants in the network rely on an authority to give them an address or a range of addresses so that they can communicate.

Overlay networks

Fortunately all it takes to interact with someone on nostr is their public key. The recipients client will render your signed and/or encrypted event no matter how it reaches them. Whether your note reaches them over the internet, over some other network or via a carrier pigeon doesn't matter. nostr:npub1hw6amg8p24ne08c9gdq8hhpqx0t0pwanpae9z25crn7m9uy7yarse465gr is working on a NIP for that and I'm sure he will share an explanation of how it works.

Bitcoin Instead of a Routing Algorithm

Now that we have digital bearer assets (e-cash), users can pay their internet gateway (TollGate) for access to the internet even though they are still offline. Once the TollGate has redeemed the e-cash, it gives the user access to the internet.

Frictionless Switching between ISPs (TollGates)

Legacy internet service providers use KYC money (fiat) to transfer the cost of the infrastructure to their users. However, this means that they are able to identify which packet belongs to which user. The KYC nature of their interaction with the users also makes it difficult for users to switch ISPs when service providers undercut each-other. Internet users who are on e-cash rails can hop between ISPs frictionlessly since they buy small amounts of data frequently in a granular manner.

Users that have access to independent competing TollGates can switch between them freely, so its impossible for any one TollGate to prevent a user from connecting to the internet. The only thing a TollGate can do is attract traffic by providing cheaper and/or faster internet access.

Anyone can arbitrage connectivity

Now that users have non KYC internet, there is nothing stopping them from reselling access to their internet connection. Anyone who has a WiFi router and access to a cheap internet connection can act as a range extender by re-selling access to that gateway for people who aren't able to connect directly.

Now the route that the traffic takes through the network is determined dynamically by the markets. The individual TollGate operators select their gateways and set their prices when they create a business model. The customers select the route that best meets their needs by selecting a gateway for their next purchase.

@ bbb5dda0:f09e2747

I've been neglecting my weekly updates a bit. I haven't really gotten to them lately because i've been insanely busy frying my brains at #SovEng. And after that i haven't been keeping my weekly notes properly. WHICH I'm planning to pick back up now!

This week/ the last couple weeks I've been doing some general planning around @tollGate's appearances on various conferences around Europe! First on the list will be Pizza Day in Prague! And from there I'll be cruising straight to @Oslo Freedom Forum! For TollGate that also means getting us set up with some T-Shirts and Stickers, though not super hard to do, it's the first time I'm doing any 'marketing' like this so I did test my own patience by properly cropping and ordering the designs. So far the stickers came out well Look at our first officially baptized TollGate! :)

TollGate Installer

As we're installing versions of TollGateOS on routers quite often now I figured it'd be a good idea to streamline the experience a bit by building a TollGate Installer. I've been vibecoding it mostly, and one of the things I discovered is how easy it is to make it replicate the style of another app. To stick with the theme I told it to mirror the style of our TollGate Captive portal site and it did it perfectly!

Anyway, still a lot of manual engineering is required but at least I can outsource the stuff i'm bad at. What I did improve was the GitHub workflows we use for building and publishing the OS. We publish our releases to Blossom + Nostr (NIP-94). I then use those messages in the installer to get the download links.

👀 But which version!?

I quickly ran into the issue that I didn't know which binary to install on the router i hooked up to my computer. I connect the router via lan, then I scan the network and ssh into the router, get some basic info, like the device name. BUT, the format of that device name wouldn't match any of the names we'd use in our release.

For example: the router name would be glinet,mt3000 while our release was called gl-mt3000. The difference may seem subtle but I can't match them. So after some discussion with the others I went on and revamped our OS pipeline to properly follow the OpenWRT naming of boards/devices. The pipeline is now much more extensible, making it easier for us to add support for more hardware!

What's next?

We're aiming for a v0.0.2 release of TollGate OS by friday, incorporating some of the feedback we've gotten from our test users! Hang on tight guys! 🙏 I'm hoping to finish an earlier version of the installer in the upcoming week as well.

@ b99efe77:f3de3616

🚦Traffic Light Control System🚦

This Petri net represents a traffic control protocol ensuring that two traffic lights alternate safely and are never both green at the same time.

;start () -> greenLight1 redLight2
;toRed1 greenLight1 -> queue redLight1
;toGreen2 redLight2 queue -> greenLight2
;toGreen1 queue redLight1 -> greenLight1
;toRed2 greenLight2 -> redLight2 queue
;stop redLight1 queue redLight2 -> ()

Places & Transitions

• Places:
• greenLight1: Indicates that the first traffic light is green.
• greenLight2: Indicates that the second traffic light is green.
• redLight1: Indicates that the first traffic light is red.
• redLight2: Indicates that the second traffic light is red.

• queue: Acts as a synchronization mechanism ensuring controlled alternation between the two traffic lights.

• Transitions:

• start: Initializes the system by placing tokens in greenLight1 and redLight2.
• toRed1: Moves a token from greenLight1 to redLight1, while placing a token in queue.
• toGreen2: Moves a token from redLight2 to greenLight2, requiring queue.
• toGreen1: Moves a token from queue and redLight1 to greenLight1.
• toRed2: Moves a token from greenLight2 to redLight2, placing a token back into queue.
• stop: Terminates the system by removing tokens from redLight1, queue, and redLight2, representing the system's end state. petrinet ;start () -> greenLight1 redLight2 ;toRed1 greenLight1 -> queue redLight1 ;toGreen2 redLight2 queue -> greenLight2 ;toGreen1 queue redLight1 -> greenLight1 ;toRed2 greenLight2 -> redLight2 queue ;stop redLight1 queue redLight2 -> ()

@ b99efe77:f3de3616

🚦Traffic Light Control System🚦

This Petri net represents a traffic control protocol ensuring that two traffic lights alternate safely and are never both green at the same time.

;start () -> greenLight1 redLight2
;toRed1 greenLight1 -> queue redLight1
;toGreen2 redLight2 queue -> greenLight2
;toGreen1 queue redLight1 -> greenLight1
;toRed2 greenLight2 -> redLight2 queue
;stop redLight1 queue redLight2 -> ()

Places & Transitions

• Places:
• greenLight1: Indicates that the first traffic light is green.
• greenLight2: Indicates that the second traffic light is green.
• redLight1: Indicates that the first traffic light is red.
• redLight2: Indicates that the second traffic light is red.

• queue: Acts as a synchronization mechanism ensuring controlled alternation between the two traffic lights.

• Transitions:

• start: Initializes the system by placing tokens in greenLight1 and redLight2.
• toRed1: Moves a token from greenLight1 to redLight1, while placing a token in queue.
• toGreen2: Moves a token from redLight2 to greenLight2, requiring queue.
• toGreen1: Moves a token from queue and redLight1 to greenLight1.
• toRed2: Moves a token from greenLight2 to redLight2, placing a token back into queue.
• stop: Terminates the system by removing tokens from redLight1, queue, and redLight2, representing the system's end state. petrinet ;start () -> greenLight1 redLight2 ;toRed1 greenLight1 -> queue redLight1 ;toGreen2 redLight2 queue -> greenLight2 ;toGreen1 queue redLight1 -> greenLight1 ;toRed2 greenLight2 -> redLight2 queue ;stop redLight1 queue redLight2 -> ()

@ b099870e:f3ba8f5d

The hustler's every waking hour is lived with both the practical and the subconscious knowledge that if he ever relaxes, if he ever slows down,the other hungry, restless foxes,ferrets, wolves and vultures out there with him won't hesitate to make him their prey.

Quote in The 50th Law that I'm currently reading

@ 5d4b6c8d:8a1c1ee3

I've been thinking about how Predyx and other lightning based prediction markets might finance their operations, without undermining their core function of eliciting information from people.

The standard approach, of offering less-than-fair odds, guarantees long-run profitability (as long as you have enough customers), but it also creates a friction for participants that reduces the information value of their transactions. So, what are some less frictiony options for generating revenue?

Low hanging fruit

• Close markets in real-time: Rather than prespecifying a closing time for some markets, like sports, it's better to close the market at the moment the outcome is realized. This both prevents post hoc transactions and enables late stage transactions. This should be easily automatable (I say as someone with no idea how to do that), with the right resolution criteria.
• Round off shares: Shares and sats are discrete, so just make sure any necessary rounding is always in the house's favor.
• Set initial probabilities well: Use whatever external information is available to open markets as near to the "right" value as possible.
• Arbitrage: whenever markets are related to each other, make sure to resolve any illogical odds automatically

The point of these four is to avoid giving away free sats. None of them reduce productive use of the market. Keeping markets open up until the outcome is realized will probably greatly increase the number of transactions, since that's usually when the most information is coming in.

Third party support

• Ads are the most obvious form of third party revenue
• Sponsorships are the more interesting one: Allow sponsors to boost a market's visibility. This is similar to advertising, but it also capitalizes on the possibility of a market being of particular interest to someone.
• Charge for market creation: users should be able to create new markets (this will also enhance trade quantity and site traffic), but it should be costly to create a market. If prediction markets really provide higher quality information, then it's reasonable to charge for it.
• Arbitrage: Monitor external odds and whenever a gain can be locked in, place the bets (buy the shares) that guarantee a gain.

Bitcoin stuff

• Routing fees: The volume of sats moving into, out of, and being held in these markets will require a fairly large lightning node. Following some helpful tips to optimize fee revenue will generate some sats for logistical stuff that had to be done anyway.
• Treasury strategy: Take out loans against the revenue generated from all of the above and buy bitcoin: NGU -> repay with a fraction of the bitcoin, NGD -> repay with site revenue.

Bitcoin and Lightning Competitive Advantages

These aren't revenue ideas. They're just a couple of advantages lightning and bitcoin provide over fiat that should allow charging lower spreads than a traditional prediction market or sportsbook.

Traditional betting or prediction platforms are earning depreciating fiat, while a bitcoin based platform earns appreciating bitcoin. Traditional spreads must therefor be larger, in order to pull in the same real return. This also means the users' odds are worse on fiat platforms (again in real terms), even if the listed odds are the same, because their winnings will have depreciated by the time they receive them. Technically, this opens an opportunity to charge even higher spreads, but as mentioned in the intro, that would be bad for the information purposes of the market.

Lightning has much lower transactions costs than fiat transactions. So, even with tighter spreads, a lightning platform can net a better (nominal) return per transaction.

---

@mega_dreamer, I imagine most of those ideas were already on y'all's radar, and obviously you're already doing some, but I wanted to get them out of my head and onto digital paper. Hopefully, some of this will provide some useful food for thought.

originally posted at https://stacker.news/items/974372

@ 0861144c:e68a1caf

This is my Bitcoin full node. There are many like it, but this one is mine. My node is my best friend. It is my life. I must master it as I must master my life. Without me, my node is useless. Without my node, I am useless. I must run my node true. I must verify my enemy who is trying to dilute me. I must reject his inflationary blocks. I will. Bitstein (2019)

I love debates. I'm one of those people who, just for fun, analyzes Abraham Lincoln’s speeches on slavery during his election campaigns, or revisits the Frost-Nixon debates—or pretty much any speech I can get my hands on. The essence of debates—and now that I've discovered Socratic seminars—even further enriches the community itself. Where we, as a Bitcoin community, stand superior in every sense of the word is that we don't just talk to stake out positions; a Bitcoiner takes a stand through their actions.

And that's exactly what we've seen over these past few weeks of debate about OP_RETURN.

Many people—instinctively, I’d say—are inviting Bitcoin maximalists to move over to ETH and create non-monetary use cases, even as those same people are the ones loudly promoting and encouraging everyone to get Bitcoinized. So, we find ourselves in a clear contradiction that remains largely misunderstood, especially when podcasters who have never reviewed a single pull request, don't know how the merge works, and don't even have a GitHub account, suddenly want to jump into a debate encouraging others to switch node classes.

As for me, that’s totally fine. The reason is simple: if you are a true Bitcoiner, it doesn't matter whether you understand programming (or not), use Knots, Core[^1], or any other client—as long as you run your own node. I believe this debate helped motivate people and warned them about the real danger of not running their own node.

[^1]: I encourage people to download Core.

Why is it important to run your own node?

When people are using Bitcoin in ways you disagree with, or creating use cases you don't support, the best way to express your disapproval is through your node. Because at the end of the day, it’s the node that allows us to verify transactions—it’s the step before final broadcast to the blockchain. Every node that gets deployed is another victory for the community against reliance on trust; every downloaded node strengthens user privacy.

The fastest way to destroy Bitcoin is by discouraging the use of personal nodes, because centralized services thrive when fewer people use this critical tool.

Use your node.

originally posted at https://stacker.news/items/978094

@ 7460b7fd:4fc4e74b

警惕：那些“帮你”保管密钥的人

—— 多签钱包中的隐形风险与逻辑陷阱

“我们可以帮您设置一个更安全的钱包。” 这句话，听上去就像是关心，其实却可能是一次有预谋的接管。

---

摘要

多签钱包被广泛视为提升数字资产安全性的“进阶方案”，尤其适用于不希望将所有信任寄托于单一点故障（如一把私钥）的人群。然而，在这些看似“民主化”、“抗单点失败”的技术结构背后，仍潜藏着极为隐秘且被低估的风险。

本文聚焦两类常见却高度隐蔽的逻辑攻击模型：

• 替换 xpub 并接管下一层级地址生成；
• 伪造 k-of-n 多签结构，在形式上给予用户参与感，实则实现单人提款。

在未引入 Taproot 的传统多签结构下，这类攻击已能轻易完成。而即便在 Taproot 和 MuSig2 合约模型下，攻击者也可以借助合成结构进一步隐藏其篡改行为。

本报告不仅梳理攻击逻辑，更强调“人性中的信任误区”——攻击者不需要主动索取密钥，只需要维持友善形象，自会有用户主动递交钥匙。更令人警惕的是，在某些极端场景下，这类“被信任的服务商”甚至可能向受害者收取“保管密钥”的费用后再实施盗窃，形成双重获利。

Taproot 虽然在结构上增强了隐私与复杂性，但也使验证逻辑失去了可直观还原的优势。随着时间推移、服务厂商退出市场乃至私有恢复流程被锁死，用户极可能落入无法恢复的“密钥黑箱”中。

阅读本文，希望你能意识到：

真正的安全，从不是托付给别人帮你“多签”，而是你真正理解你签了什么、和谁签的、签名之后将通往哪一个脚本。

---

多签钱包的逻辑攻击向量分析

以 xpub 替换与伪造 k-of-n 结构为例

---

攻击模型一：替换 xpub 实现地址劫持

场景设定

攻击者假扮为友好的钱包初始化服务者，主动提出“免费帮你生成一个更安全的多签钱包”。表面上，他为你设置了标准的 HD 多签结构，实际上却在关键的派生路径中，悄悄将本应由你或另一个可信方持有的 xpub 替换为他自己的。

在 HD 钱包结构（例如 BIP45、BIP67）中，用户通常无法直观验证每一个新地址是否仍属于原来的签名组。这种设计让“看上去很安全”的地址，可能早已成为攻击者可完全支配的提款口袋。

攻击结构（逻辑表示）

• 假设多签参与者为 P1, P2, P3
• 攻击者控制伪造者身份 P1'，实际替代掉用户的 P1
• 地址生成函数为：

Addr = f(xpub(P1'), xpub(P2), xpub(P3))

• 用户未验证 xpub 时，成立：

∃ Addr_i ∈ wallet, spendable_by(attacker)

换言之，钱包中的某些地址虽然看起来正常，但已可被攻击者花费。

人性陷阱提示

用户往往不认为“地址生成这件事”是需要人工检查的，特别是在使用 Ledger、Trezor 等硬件钱包时形成了“签名即安全”的错觉。而攻击者只需一次替换，就能悄悄监视整个钱包生命周期。

更重要的是，攻击者不需要向你“索取密钥”，他只需维持友善、专业甚至略带“为你好”的姿态。在 100 个用户中，总会有一部分人，在受到“信任感”与“他人看起来更专业”的影响下，主动提出将某个密钥托管给对方，甚至支付一定“密钥保管费”作为安全保障。这类行为并非愚蠢，而是人性的一部分。

这种松懈与依赖，背后深植着心理学上著名的「责任分散效应（diffusion of responsibility）」。当责任从“自己一人持有私钥”转变为“我们多人共同掌控”时，大脑会自动削弱“必须百分百保护密钥”的紧迫感；一旦密钥有三份或五份，人就会默认“即使我丢了一份也无所谓”，由此降低警惕，弱化加密习惯的执行力度。

尤其是在多签结构下，密钥不再是“唯一真理”。你开始认为：“我只是 n-of-m 的一员”，进而产生 安全责任稀释（safety dilution）。举个例子：如果你的 seed words 是唯一的，你很可能将其写在一张专用纸上，藏入防火袋，存放于密封保险箱中；但一旦你拥有的是 3-of-5 多签中的一份，你可能就只是把它存在 Evernote、存图于手机相册，或者发给自己 Telegram 备份——并自我安慰说：“这只是其中一把钥匙，又不怕。”

这正是攻击者渗透的最佳入口。他无需破解密码学算法，仅凭理解人性中的懒惰、依赖与责任下沉机制，就足以发起极具杀伤力的社会工程攻击。

提醒：没有人例外。你的安全不是由数学公式决定，而是由你是否对它持续保持敬畏与冷静判断所决定的。

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Taproot 下的隐蔽性升级

在 Taproot + MuSig2 合约结构中：

• 合成公钥如：P = H(P1 + P2 + P3)
• 用户无法从地址推导出其组成
• 所有 pubkey 被掩盖，无任何可读性结构泄露

结果：攻击者替换某个 xpub 之后，哪怕是资深用户，也无法通过比对地址结构来发现任何异常。

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攻击模型二：伪造 k-of-n 多签脚本结构

场景设定

攻击者承诺为你部署一个“非常安全”的 2-of-3 多签钱包。然而他实际创建的却是一个 1-of-3 结构，并诱导你保留或交出其中一个密钥。

用户一旦信任其脚本不可见性（或 UI 模糊性），资金注入该地址之后，攻击者即可单独提款。

攻击结构（逻辑描述）

• 正确脚本应为：

OP_2 <pk1> <pk2> <pk3> OP_3 OP_CHECKMULTISIG

• 实际被构造为：

OP_1 <pk1> <pk2> <pk3> OP_3 OP_CHECKMULTISIG

• 用户错误地相信：

user_believes(k=2) ∧ attacker_has(sk1) → safe

• 但实际上：

real_k = 1 ∧ attacker_has(sk1) → attacker_can_spend

成立条件

• 用户未能验证 redeem script
• 钱包界面（UI 或 PSBT）未明确标识 k 值与脚本结构
• 攻击者拥有脚本定义权，或 UI 权限

人性陷阱提示

这类攻击往往并非“高技术”，而是利用用户对脚本结构的无感。尤其是当攻击者扮演“技术专家”时，用户往往不具备审查 redeem script 的能力或意识。攻击者甚至可以用“给你设置一个冷备密钥”作为幌子，骗取部分 key，并收取额外费用。

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多签攻击模型对比分析（无表格）

• 攻击类型一：xpub 替换
• 本质：公钥注入
• 隐蔽性：极高（生成地址完全正常）
• 关键条件：用户未验证每个 xpub

• Taproot 是否能规避：否，反而更难发现

• 攻击类型二：伪造 k-of-n

• 本质：脚本结构欺骗
• 隐蔽性：中等（需查看 redeem script 才能识别）
• 关键条件：用户不懂脚本，UI 不展示结构
• Taproot 是否能规避：否，合约结构反而隐藏了更多细节

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安全建议（基于当前攻击模型）

1. 强制在 UI 中完整展示所有 xpub、合成地址派生路径与对应签名人列表
2. 如 Coldcard 的二维码验证机制
3. 用户必须自行保存每个 xpub，并可验证任一地址确实源自该集合派生
4. 多签钱包必须提供可见 redeem script 的界面与 k 值校验提示
5. 不接受“帮你配置好了”的 UI 黑箱
6. Taproot 虽增强隐私，但也加剧验证障碍
7. 若使用合签结构，应避免依赖第三方界面进行签名决策
8. 始终优先使用硬件钱包本地签名流程，避免通过 Web 或中间服务生成交易

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真实案例分析

1. Coldcard 硬件钱包的 xpub 替换漏洞

2021 年，安全研究员 benma 发现 Coldcard 硬件钱包在注册多签钱包时，未验证自身是否为多签钱包的一部分。这使得恶意计算机钱包可以用攻击者控制的 xpub 替换多签 xpub，同时仍通过所有用户验证。所有接收到此多签钱包的币随后可以随时转移到攻击者的钱包。
来源：benma.github.io

2. Bybit 交易所的多签钱包被黑事件

2025 年 2 月，Bybit 交易所的多签冷钱包在一次例行转账中被黑，损失约 14.6 亿美元。该钱包使用 2-of-3 多签设置，意味着需要三位授权签名人中的两位批准交易。用户界面显示了合法的目标地址，并且 URL 与受信任的多签提供商 Safe 相关联。但这是一种欺骗。黑客利用硬件钱包中的“盲签名”漏洞，使设备只能显示交易的哈希，从而掩盖了一个更改，使攻击者控制了钱包的智能合约。
来源：certora.com

3. Parity 多签钱包漏洞

2017 年，Parity 多签钱包版本 1.5+ 中发现了一个漏洞，允许攻击者窃取超过 150,000 ETH（约 3000 万美元）。攻击者向受影响的合约发送两个交易：第一个获取多签的独占所有权，第二个移动其所有资金。
来源：blog.openzeppelin.com

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攻击流程图解

1. 建立信任：攻击者以技术专家或受信任的服务提供商身份接近受害者，提出帮助设置多签钱包。
2. 替换 xpub：在设置过程中，攻击者用自己控制的 xpub 替换原本应由用户或第三方控制的 xpub。
3. 生成地址：攻击者生成看似正常的多签地址，并展示给用户，用户未进行验证。
4. 资金注入：用户将资金转入这些地址，认为资金安全。
5. 资金转移：攻击者利用控制的私钥，单方面将资金转出，用户无法察觉。

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参考文献

• benma.github.io — Coldcard 多签攻击漏洞
• certora.com — Bybit 多签合约欺诈分析
• OpenZeppelin Blog — Parity 多签历史漏洞复盘

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附录：攻击面分析——为何 xpub 替换是多签特有的风险？

单签钱包是否存在 xpub 替换攻击？

答案：否。

在单签钱包结构中（如 BIP32/BIP39 衍生的标准钱包）：

• 钱包只依赖一个 xpub，并且这个 xpub 是从用户私钥派生而来；
• Coldcard、Trezor 等硬件钱包会自动根据本地 seed 派生地址，无需输入外部 xpub；
• 用户可以通过设备显示屏确认“这是我派生出来的地址”，不存在外部注入路径。

因此：xpub 替换在单签钱包中不存在攻击面，攻击路径被封死。

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多签钱包为什么引入了 xpub 攻击面？

多签钱包（如 2-of-3、3-of-5）需要以下信息来生成地址：

1. 所有参与者的 xpub；
2. 公钥排序规则（如 BIP67）；
3. 多签脚本模板（如 OP_2 OP_3 OP_CHECKMULTISIG）；
4. 每个 key 的派生路径（如 m/48'/0'/0'/2'/0/1）；

这就意味着，用户必须信任这些输入的 xpub 是来自真正的签名方。如果攻击者悄悄将其中某一份换成自己控制的 xpub，那他就自动成为地址共管人，甚至是单签人。

Coldcard 攻击案例回顾：

• 用户通过 PSBT 模板或 JSON 导入多签配置；
• 攻击者在其中替换了某一参与者的 xpub；
• Coldcard 在旧版本中未提示或验证该替换；
• 用户生成地址、发送资金，攻击者即可随时提取。

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攻击面比较表

• 单签钱包
• 不接收外部 xpub，派生路径完全由设备掌控；
• 地址来源明确、签名单一；

• xpub 替换攻击无效。

• 多签钱包

• 依赖多个外部 xpub 合成结构；
• 用户很难手动验证每一条 xpub 与 fingerprint；
• xpub 替换为高危攻击点。

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Taproot 是否规避了 xpub 替换问题？

部分规避，但引入了新的验证难题。

Taproot + MuSig2 等结构通过将多个 pubkey 合成为一个点：

P = H(P1 + P2 + P3)

这确实可以隐藏合约结构，提升隐私，但也导致：

• 用户无法从地址还原参与者是谁；
• 如果其中一个公钥被攻击者替换，生成的地址仍然合法；
• 用户在链上看不到任何异常，但攻击者已取得合约控制权。

因此：Taproot 并未从根本上消除 xpub 替换的攻击面，反而因为其不可还原性使得攻击更加隐蔽。

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总结

多签钱包之所以引入新的攻击面，不是因为它“更复杂”，而是因为它必须信任外部结构。一旦你的钱包要“与他人协作生成地址”，你就必须验证“这些人是谁”、“这些地址是怎么来的”——这就是攻击的入口。

单签保护的是私钥，
多签则要求你保护你的伙伴。

@ 8d34bd24:414be32b

I’ve been really deeply studying end times prophecy today. Trying to see how all of the prophecies from the initial proto-Gospel in Genesis 3 through the last chapter in Revelation is hard to arrange in my head. That being said, after reading the Bible daily for about 40 years and reading through it each year for about 30 years, I am really starting to see so many links between passages through out the Bible. It has made my Bible study enthralling. I wish I had time to spend hours and hours every day studying and writing about what I have learned.

I thought it might be handy to share some hints on how I study the Bible. Hopefully this can help some people, although I do tend to think my subscribers tend to be those who love Bible study and are already in the word. People who don’t love the Bible are unlikely to read my long, scripture laden posts. Still, hopefully this will be useful.

Starting the Habit of Bible Reading

The first and foremost thing we all need is to start the habit of daily Bible reading. You can’t worship a God you don’t know about and you can’t obey a God whose commands you don’t know. Every Christian needs to read the whole Bible. This needs to be a priority.

I used to recommend people just start at the beginning, Genesis, and read straight through to Revelation, but I’ve lately changed my mind. So many people will start in Genesis, enjoy Genesis and Exodus, which are basically just stories about creation, judgment in the global flood, and God’s chosen people. They then get to Leviticus, Numbers, and Deuteronomy (the details of the law including the intricate ceremonial law) and they lose momentum in the tedium. I do think every Christian eventually needs to read and know these books, but I think it is OK to skip some or all of them the first time through. They will mean more once you have read the whole Bible. If you are only going to read one, I’d probably read Deuteronomy.

I also know that it can be helpful for some people to mix up their reading. I used to have book marks with daily readings, so I read some Old Testament, some Psalms/Proverbs, some New Testament. There was one other category, but I can’t remember what it was. This way, you get a little of different types of passages. My bookmarks burnt up when my house burnt down and when I went searching online for something similar, I found a few similar reading plans, but not the one I used and really liked. Here are a couple that looked good, but I haven’t used myself. here. here. here. These plans look good, but don’t have the convenient bookmarks. here. here. For those who like reading online or on your phone (which isn’t me), I found this one. It looked nice I’ve just started using it despite the fact I prefer a Bible I can hold, turn the pages of, and write in. It has a chronological Old Testament Passage and a New Testament reading that relates in some way to the Old Testament Passage. It also links to some maps that let you see where the places mentioned in the passages are located and questions to get you to think about what you read. The one downside is it only lets you attach notes if you create a group. I do really like the idea that you can setup a group to read through the Bible and share your comments and thoughts, but I haven’t tried the feature.

Another thing I’ve found very helpful is a chronological Bible. It is handy having things in the order they happened and the different passages that cover an event (such as from each gospel or 1/2 Samuel vs 1/2 Chronicles or Leviticus vs Deuteronomy, etc.) right by each other. It is handy to see what actually comes before what and the way different writers describe the same event, since different authors include different details. I think reading a chronological Bible has helped me see more links between passages and get a better understanding of the Bible as a whole. I am getting close to finishing my second reading through. I don’t know if one chronological Bible is significantly better than another, but this is the one I am reading right now.

Another tactic I have used, when I started getting bogged down reading through the Bible again and again was to study one book of the Bible in depth. It worked best reading one of the shorter books. I’d read through the book repeatedly for a month, usually in 1-3 days. I’d follow the links in my study Bible to related passages or study where some of the words were used in other parts of the Bible. I’d get so I really knew the book well.

One thing that has helped me with my Bible study is writing in my Bible. The first time I wrote, it felt almost sacrilegious, but it helps me to organize my thoughts. I’ll write what I get out of it, how it relates to another passage, etc. I’ll underline or circle key words or sentences. These are then useful when I read through again and may see something different, but it reminds me of my growth and learning. I’ve actually thought I really need to get a new wide margin Bible to have more room for my notes. I can write really small and have an ultrafine point pen, so I can write even smaller than the print. The problem is my eyes aren’t so good and I now have trouble reading my tiny print. I can’t read my own writing without my reading glasses.

Bible reading starts getting really exciting when you get to know the Bible well enough that you start seeing the links between different passages and different books. Suddenly it opens up a whole new level of understanding. It is like an exciting scavenger hunt finding how all of the ideas in the Bible relate to each other and clarify each other in one whole.

Historically I’ve hated writing. The thought of writing a journal or something sounded like torture, but I have truly found organizing my thoughts in an essay, really helps my understanding of the Scriptures in ways that reading and thinking about it never did. Whether anyone reads my writings or not, I’ll continue writing because it is a blessing to me. I have grown immensely in my understanding of the Bible by writing out a reasoned argument for what I believe the Bible is saying. I’ve also done in depth study and realized that I was not completely right in my understanding and had to adjust my understanding of Scripture.

but sanctify Christ as Lord in your hearts, always being ready to make a defense to everyone who asks you to give an account for the hope that is in you, yet with gentleness and reverence (1 Peter 3:15)

As Christians, we are supposed to be ready to make a defense. Reading, studying, and knowing the Bible is the only true way to be ready. I made a necklace with the first letter in each word in this verse to help me memorize it.

Memorizing God’s word is also well worth the effort. I’ll admit, that I would be terrible for following my own advice in this, except I have a special needs son, who is in Awana, and needs help memorizing 1-5 verses a week. The only way either of us can pull it off is I make a song for each 1-3 verse passage that he has to memorize. We then sing them together until we know them. I debated on whether to share my songs. They are not well done. The version uploaded is my first rough attempt at the song and we usually fine tune them over the week, but I don’t get around to rerecording them. I also have at best an OK voice. Still, I decided to share in case these songs can help someone else with their Bible memorization. Hopefully I am not embarrassing myself too much.

Another thing that has helped me is finding Open Bible’s geocoding site. When reading Bible passages, there are frequent references to places that are unfamiliar, either because they are far away or because the ancient names, rather than modern names, are used. This site allows you to see on a map (satellite & modern country formats) where places are located and how they relate to each other. I’ve especially found this useful with end times prophecy because the Bible describes places with their ancient, not modern names.

In addition to my direct Bible study, I also daily listen to sermons, Christian podcasts, read Christian substack posts, and read Christian commentaries. All help my understanding of the Bible. FYI, the sermons, podcasts, blogs, and commentaries are a risk if you don’t know the Bible and aren’t being like the Bereans who searched “… the Scriptures daily to see whether these things were so.” (Acts 17:11) There are so many false or erroneous teachers, that you have to be very careful listening to people and never put the opinions of men above the word of God. Of course, it is possible to learn a bunch from Godly teachers. Sadly, even the best Bible teachers seem to have at least one area of error. For example, I love listening to R.C. Sproul’s “Renewing Your Mind” podcast, but his teaching on the first 11 chapters of Genesis are a bit “squishy” (not outright wrong, but not holding firm enough to the Bible) and I’d say his end times teaching is flat out wrong. Everything I’ve heard him teach between Genesis 12 and Jude is amazing and very true to the Bible. This is where he spends almost all of his time teaching, so I can highly recommend his podcast. Without a firm foundation in the Bible, it is not possible to recognize false teaching, especially when taught by someone who is very good in most respects.

I hope this is useful to people to help them get into the habit of regular Bible reading and seeing how exciting Bible study can be.

May God give you a hunger for and understanding of His word. May you fill your heart and mind with the word of God so it overflows and is seen by all around you.

Trust Jesus.

@ 866e0139:6a9334e5

Autor: Bastian Barucker. Dieser Beitrag wurde mit dem Pareto-Client geschrieben. Sie finden alle Texte der Friedenstaube und weitere Texte zum Thema Frieden hier. Die neuesten Pareto-Artikel finden Sie in unserem Telegram-Kanal.

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John Lennon besang in seinem weltberühmten Lied „Imagine“ die fast unvorstellbare Utopie einer Welt, in der es keinen Grund mehr zu töten gäbe und die Menschen in Frieden zusammen leben. Die enorme Resonanz und Verbreitung dieser Zeilen zeigt den Wunsch fast aller Menschen nach Frieden. Wie Lennon zu diesen Zeilen kam, ist ein Hinweis darauf, dass es dazu neben geopolitischen Analysen und deren Verbreitung durch eine nicht eingebettete und freie Presse vielleicht noch etwas braucht: Schattenarbeit – ein bewusstes Hinwenden zu den eigenen Tiefen der Persönlichkeit, dem inneren Tiefenstaat.

Was ist der Tiefenstaat?

Mit dem Begriff Tiefenstaat verbinde ich Strukturen, die Edward Bernays bereits vor knapp 100 Jahren in seinem Grundlagenwerk „Propaganda“ beschrieb. Im Vorwort schreibt er: „Organisationen, die im Verborgenen arbeiten, lenken die gesellschaftlichen Abläufe. Sie sind die eigentlichen Regierungen in unserem Land.“ Er verwendet diesbezüglich auch das Wort „Schattenkabinett“. Im Bereich der Persönlichkeitsentwicklung wird der Begriff „Schattenarbeit“ dafür verwendet, unbekannte, aber einflussreiche Anteile des eigenen Selbst zu entdecken und zu integrieren.

Lennon begab sich in den 70er Jahren des letzten Jahrhunderts auf die Reise zu sich selbst. Sein Weg führte ihn zum Psychologen Dr. Arthur Janov, der Menschen mithilfe der von ihm entwickelten Primärtherapie dabei begleitete, sich ihrer primären Prägungen und frühkindlichen Traumatisierungen bewusst zu werden und abgespaltenen Schmerz wieder zu erleben, um sich davon zu befreien. Entgegen stark kognitiv geprägter Ansätze wie der Gesprächstherapie steht bei dieser Art der Therapie Gefühlsausdruck im Vordergrund. Janov selbst schreibt dazu: «Die Krankheit ist die Verleugnung des Fühlens, und das Heilmittel ist das Fühlen.»

Auch der Psychologe und Psychotherapeut Franz Ruppert beschäftigt sich intensiv mit dem Fühlen als einem möglichen Weg, eine Traumatisierung aufzuarbeiten. Er schreibt Folgendes über die Bedeutung des Fühlens in seinem Buch „Wer bin ich in einer traumatisierten Gesellschaft“: „Denn letztlich können nur über das Ausdrücken von Gefühlen die fragmentierten psychischen Strukturen wieder zu einer Einheit zusammenfinden.“

Lennon war es möglich, die immense Menge an Schmerz zu entdecken, die er verborgen in sich trug, und er erkannte dabei, welche Verhaltensweisen und Bewältigungsstrategien damit verbunden waren. Laut Lennon ist „Unser Schmerz der Schmerz, durch den wir die ganze Zeit gehen. Du wirst in Schmerz hineingeboren, und wir befinden uns meist im Schmerz. Und ich glaube, je größer der Schmerz ist, umso mehr Götter brauchen wir.“

Die Schilderungen von John Lennon decken sich mit den Erfahrungen meiner Selbsterfahrung und meiner mittlerweile über 10 Jahre langen Begleitungsarbeit in der durch den Schweizer Willi Maurer entwickelten Gefühls- und Körperarbeit.

Auch in dieser Arbeit geht es darum, abgespaltenen Schmerz langsam und über viele Jahre aus dem Schatten in das Bewusstsein zu integrieren, um nicht weiter von ihm unbewusst beeinflusst zu werden. Hunderte Male habe ich Menschen ihnen vorher unbekannten Hass, tiefe Trauer, unendliche Ohnmacht, starke Hilflosigkeit, aber auch Freude, tiefe Geborgenheit, Liebe und Friedfertigkeit entdecken und ausleben sehen. Selber habe ich mich nach einem einjährigen Aufenthalt in der nordamerikanischen Wildnis, bei dem es darum ging, so ehrlich wie möglich miteinander umzugehen, ausführlich meiner Selbsterfahrung gewidmet und dabei Intensitäten von Schmerz, aber auch Zufriedenheit entdeckt, die mir nicht vorstellbar erschienen.

Der Krieg in uns

Fast immer zeigte sich in den begleiteten Prozessen, dass die im Alltag, in der Partnerschaft oder in der Familie angerührten Gefühle aus der eigenen frühen Kindheit stammten. Innere, überfordernde „Kriege“ und Übergriffigkeiten, die auch das Leben im Außen zum Krieg werden ließen, erwachten zum Leben und durften endlich Ausdruck finden. Schlussendlich zeigte sich meist, dass es einen friedlichen Umgang mit der aktuellen Situation gibt, wenn die Altlast „entsorgt“ beziehungsweise kompostiert, also gefühlt und integriert wurde.

Franz Renggli beschreibt diese Psychodynamik in seinem Buch Verlassenheit und Angst – Nähe und Geborgenheit in Bezug auf Partnerschaft wie folgt:

„Die Erfahrung aller meiner Paarbegleitungen zeigt nun: Wenn nach der ersten Verliebtheit langsam der „Alltag“ in eine Beziehung einkehrt, neigen beide Partner immer mehr dazu, ihre Schattenseiten, ihre alten und frühen Verletzungen auch in der Beziehung zuzulassen. Je sicherer die Grenzen sind, desto vertrauensvoller dürfen diese frühen Schmerzen gespürt und erfahren werden. Wir „steigen dann wieder ab“ in unsere ursprüngliche Hölle der Verlassenheit, in die frühkindlichen Prägungen, wie ich sie hier beschrieben habe. Nur: die Hölle sind dann nicht länger die Eltern, sondern jetzt der Partner oder die Partnerin! Vielleicht könnte ich sie oder ihn umbringen vor Enttäuschung und Wut, weil er/sie mich so sehr verletzt hat. Und damit kann sie beginnen, die Heilung der alten Wunden in der Paarbeziehung! Aber nur dann, wenn wir bereit sind, unsere alten verletzten Gefühle wirklich zu spüren und zuzulassen. Und wenn wir zu diesem Schritt bereit sind, dann können wir auch gleichzeitig empfinden und wissen: Das sind unsere ureigensten alten Verletzungen, welche wir seit der Kindheit in uns tragen – ein Partner mit seinen Worten und seinem Verhalten ist nur der Auslöser unseres alten Schmerzes, ein harter Spiegel unserer alten Wunden! Wir alle haben unsere Partner entsprechend gewählt, damit wir in unseren Grundfesten immer wieder – neben allem Glück, das wir mit ihnen erleben und teilen dürfen – auch erschüttert werden.“

Diese wiederkehrenden Erschütterungen werden auch Reinszenierungszwang genannt und lassen Menschen immer wieder dieselben misslichen Lagen (mit)erschaffen, die ihnen Leid zufügen. Willi Maurer beschreibt diese Dynamik in einem sehr lesenswerten Artikel mit dem Titel „Die verschüttete Quelle des Friedens“ wie folgt: „Die Spirale der Gewalt zeigt, dass wir andern Menschen das antun, was uns selbst widerfahren ist. Doch ohne Selbsterforschung bleiben wir blind gegenüber der tief in uns verdrängt liegenden Wahrheit.“

Diese Reinszenierung ist gleichzeitig jedoch eine immer wiederkehrende Chance, sich der Ursache dieser Dynamik zuzuwenden. Das geschieht dann, wenn die Person sich als Erschaffer oder Erschafferin und nicht als reines Opfer der Umstände versteht und beginnt, die volle Verantwortung für das eigene Leben zu übernehmen.

Vor einigen Jahren brachte ich den Prozessbegleiter Willi Maurer und den Friedensforscher Dr. Daniele Ganser zu einem Gespräch zusammen, weil ich der Ansicht war, dass beide Friedensarbeit aus verschiedenen Perspektiven leisten. Es war eine Wohltat, zu erleben, wie Ganser durch die sehr authentischen Schilderungen Maurers zu ahnen begann, dass es eine Verbindung zwischen weltweiten Kriegen und frühen Erfahrungen geben kann. Was hat der Soldat, Politiker oder Geostratege erlebt, dass er in der Lage ist, Krieg zu befördern, zu verursachen oder auch nur zu dulden?

Vielleicht ist die immer wiederkehrende Kriegsbereitschaft und Kriegslust elitärer Kreise neben der wahrscheinlich frühkindlich erzeugten Gier nach Macht, Einfluss und Geld ebenfalls ein gesellschaftlicher Reinszenierungszwang. Die inneren Zerwürfnisse und Kriege müssen quasi ins Außen getragen werden, um sich dem im Schatten der eigenen Persönlichkeit wartenden Schmerz nicht zuwenden zu müssen.

Eine weitere Bewältigungsstrategie für innere, emotionale Zerwürfnisse ist die Projektion, also die Veräußerlichung des Eigenen auf andere. Ein hier vielleicht Sinn stiftendes Beispiel ist die immer wieder betonte weitestgehend unbelegte Unterstellung imperialistischer Bestrebungen Russlands im Zuge des völkerrechtswidrigen Krieges in der Ukraine. Meist kommt diese Behauptung von Vertretern oder Unterstützern der NATO, die – wie an ihrer großflächigen, gegen westliche Zusagen an Russland verstoßenden NATO-Osterweiterung leicht zu erkennen – offensichtlich selbst imperialistische Bestrebungen verfolgt.

Die Projektion ins Außen

Interessanterweise hat ausgerechnet Präsident Putin in anschaulichen Worten beschrieben, was unter anderem mit im Schatten liegenden Persönlichkeitsanteilen auch auf geopolitischer Ebene passieren kann. Sie werden anderen Menschen oder Staaten zugeschrieben, also ins Außen projiziert. Auf die Beschuldigung durch US-Präsidenten Joe Biden, ein Mörder zu sein, antwortete Putin: „Aber wenn wir andere Menschen bewerten, oder wenn wir sogar andere Staaten, andere Völker bewerten, sehen wir immer in den Spiegel, wir sehen uns immer selbst, weil wir auf eine andere Person übertragen, was wir selbst sind, was uns im Wesentlichen ausmacht. Wissen Sie, ich erinnere mich, als wir als Kinder im Hinterhof waren, als wir miteinander gestritten und gesagt haben: Wie Du andere nennst, so bist Du selbst. Und das ist kein Zufall, das ist nicht nur ein Kindersprichwort oder ein Witz. Der Sinn ist sehr psychologisch. Wir sehen immer unsere eigenen Qualitäten in einer anderen Person und denken, dass sie so ist wie wir, und daraus bewerten wir ihr Handeln und bewerten sie insgesamt.“

https://www.youtube.com/watch?v=7sMAHWH_hhQ

Der bereits erwähnte Tiefenstaat, also eine quasi Schattenregierung, existiert auf der geopolitischen Weltbühne und bestimmt größtenteils die Geschicke, insbesondere wenn es um Krieg und Frieden geht. Der Kognitionsforscher Professor Rainer Mausfeld beschreibt die unsichtbar im Hintergrund wirkenden Strukturen in seinem Buch „Angst und Macht“ wie folgt: „Die tatsächliche Macht ist heute in neuartigen globalen Organisationsformen verortet, die vollkommen einer gesellschaftlichen Kontrolle entzogen sind, die für die Bevölkerung weitgehend unsichtbar sind…“

Gleiches gilt meiner Annahme nach auch für die persönlichen Machtverhältnisse, bei denen eigene Schattenanteile ebenfalls großen Einfluss auf die sichtbaren Verhaltensweisen nehmen. Dieser unbewusste Anteil kann auf der einen Seite Macht über die eigene Kriegsbereitschaft und Friedenstüchtigkeit ausüben, auf der anderen Seite wird er von Kriegstreibern mittels kognitiver Kriegsführung aktiv benutzt, um die Bevölkerung zu manipulieren. Der Propagandaforscher Dr. Jonas Tögel schreibt dazu: „Die Tiefenpsychologie dient als Fundament der wohl wichtigsten Manipulationswaffe: die gezielte Beeinflussung des Unbewussten der menschlichen Psyche. Wie bei einem Eisberg liegt ein großer Teil unserer Gedanken und Gefühle „unter der Wasseroberfläche“, und hier können wir so beeinflusst werden, dass wir die Steuerung selbst oft nicht bemerken.“

Der Tiefe Staat kann also ungesehen politisch schalten und walten und gleichzeitig die unbewussten Anteile der menschlichen Psyche zu seinen Gunsten ausnutzen.

Teil 2 folgt in Kürze.

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Bastian Barucker, Jahrgang 83, ist Wildnispädagoge, Überlebenstrainer und Prozessbegleiter. Seit 2005 begleitet er Menschen bei Wachstumsprozessen in der Natur. Seit 2011 macht er mithilfe der Gefühls- und Körperarbeit tiefgreifende Selbsterfahrungen, und seit 2014 begleitet er Gruppen, Paare und Einzelpersonen. Er lebt und arbeitet im wunderschönen Lassaner Winkel, nahe der Insel Usedom. Zuletzt erschien von ihm das Buch "Auf Spurensuche nach Natürlichkeit: Vom Leben in der Wildnis und der Reise zu sich selbst" im Massel Verlag.

Kontakt: www.bastian-barucker.de

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@ bbef5093:71228592

Az Európai Bizottság terve az orosz urán- és energiafüggőség felszámolására

Az Európai Bizottság bejelentette, hogy korlátozni kívánja az új urán-, dúsított urán- és egyéb, Oroszországból származó nukleáris anyagokra vonatkozó ellátási szerződéseket, ezzel is elősegítve, hogy az Európai Unió „teljesen megszüntesse” az orosz energiától való függését[8][6][2].

A Bizottság új ütemtervet mutatott be, amely részletesen tartalmazza, hogyan kívánja megszüntetni az orosz energiafüggőséget, miközben biztosítja az EU energiaellátásának és árainak stabilitását[6][2][15].

Főbb intézkedések és célok

• Az EU az orosz gázimport arányát 45%-ról 19%-ra csökkentette a 2022 májusában indított REPowerEU tervnek köszönhetően, de 2024-ben ismét növekedett az orosz gáz behozatala[2][20].
• Az új ütemterv szerint az orosz olaj, gáz és nukleáris energia fokozatosan, összehangoltan és biztonságosan kerül ki az uniós piacokról, miközben az EU a tiszta energiára való átállást gyorsítja fel[6][15][7].
• Az EU-tagállamoknak 2025 végéig nemzeti terveket kell készíteniük arról, hogyan járulnak hozzá az orosz gáz, nukleáris energia és olaj importjának megszüntetéséhez[13][7][18].
• Az orosz eredetű urán, dúsított urán és egyéb nukleáris anyagok esetében új korlátozásokat vezetnek be: az Euratom Ellátási Ügynökség (ESA) nem hagy jóvá új orosz beszállítási szerződéseket, és gazdasági eszközökkel is igyekeznek visszaszorítani az importot[4][5][16].
• A meglévő rövid távú szerződéseket 2025 végéig meg kell szüntetni, új szerződéseket pedig nem lehet kötni; a hosszú távú szerződéseket 2027 végéig kell felmondani[5][7][6].
• Az intézkedések célja, hogy a teljes orosz gáz- és olajimport 2027 végéig megszűnjön, az orosz atomenergia pedig fokozatosan kivezetésre kerüljön[3][9][17].

Nukleáris háttér

• Az ESA jelentése szerint 2023-ban az EU-ban felhasznált természetes urán 23,4%-a érkezett Oroszországból, ami 72,6%-os növekedést jelentett, főként a VVER típusú orosz atomerőművek üzemanyag-felhalmozása miatt[16].
• Az EU-ban 19 VVER reaktor működik (Bulgáriában, Csehországban, Finnországban, Magyarországon és Szlovákiában).
• Az EU természetes uránszükséglete a globális igények mintegy 22%-át teszi ki, a beszerzések 91%-a Kanadából, Oroszországból, Kazahsztánból és Nigerből származik[16].

Célkitűzés és indoklás

A Bizottság szerint az orosz energiafüggőség felszámolása nemcsak gazdasági, hanem biztonságpolitikai kérdés is, mivel Oroszország többször is eszközként használta az energiát az EU-val szemben[2][12]. A lépések célja, hogy az EU energiaellátása biztonságos, stabil és kiszámítható maradjon, miközben az orosz energiaimportból származó bevételek ne finanszírozhassák tovább az Ukrajna elleni háborút[6][2][12].

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Források alapján készült magyar összefoglaló és fordítás

Citations: [1] Döntött az Európai Bizottság: teljes mértékben megszüntetik ... - 444 https://444.hu/2025/05/06/dontott-az-europai-bizottsag-teljes-mertekben-megszuntetik-az-orosz-energiatol-valo-fuggest [2] Három éven belül felszámolná az orosz energiafüggőséget az ... https://hu.euronews.com/my-europe/2025/05/06/harom-even-belul-felszamolna-az-orosz-energiafuggoseget-az-europai-bizottsag [3] 2027-re teljesen leállítaná az Európai Bizottság az orosz ... - Új Szó https://ujszo.com/kozelet/2027-re-teljesen-leallitana-az-europai-bizottsag-az-orosz-energiabehozatalt-a-nuklearis [4] Bejelentették Brüsszelben: megkerülik Magyarországot, teljesen ... https://www.portfolio.hu/gazdasag/20250506/bejelentettek-brusszelben-megkerulik-magyarorszagot-teljesen-levalik-az-orosz-olajrol-es-gazrol-az-eu-759267 [5] Érik az újabb ütközés: Brüsszel betiltaná az orosz energiát https://www.valaszonline.hu/2025/05/06/energia-szankcio-oroszorszag-haboru-eu-olaj-gaz-uran/ [6] Az EU teljes mértékben megszünteti az orosz energiától való függését https://hungary.representation.ec.europa.eu/az-eu-teljes-mertekben-megszunteti-az-orosz-energiatol-valo-fuggeset-2025-05-06_hu?prefLang=en [7] Megvan az ütemterv, végleg betiltaná az orosz energiát az Európai ... https://index.hu/kulfold/2025/05/06/orosz-energiafuggoseg-orosz-gaz-olaj-import-europai-unio-repowereu/ [8] European Commission Unveils Plans To Restrict New Uranium ... https://www.nucnet.org/news/european-commission-unveils-plans-to-restrict-new-uranium-deals-with-russia-5-3-2025 [9] Az EU teljes mértékben megszünteti az orosz energiától való ... https://infostart.hu/belfold/2025/05/06/az-eu-teljes-mertekben-megszunteti-az-orosz-energiatol-valo-fuggoseget-a-nap-hirei [10] [PDF] EURÓPAI BIZOTTSÁG Brüsszel, 2025.4.9. COM(2025) 159 final ... https://secure.ipex.eu/IPEXL-WEB/download/file/082d29089612ec1e019619f955940250 [11] Kiszivárgott az Európai Bizottság 2025-ös munkaprogramja https://www.eu-monitor.hu/hu/cikk/20250206-kiszivargott-az-europai-bizottsag-2025-os-munkaprogramja [12] EU says it will end dependency on Russian energy supplies https://www3.nhk.or.jp/nhkworld/en/news/20250507_B4/ [13] Végleg leválik az orosz energiáról az Európai Unió ... - Népszava https://nepszava.hu/3278673_oroszorszag-europai-unio-foldgaz-koolaj-levalas-terv [14] Egyre több európai ország támogatja az atomenergiát https://www.vg.hu/nemzetkozi-gazdasag/2025/03/atomenergia-energiatarolas-europa [15] Az EU teljes mértékben megszünteti az orosz energiától való ... https://karpatinfo.net/energiafuggetlenseg-orosz-foldgaz-orosz-energiafuggoseg-2025-05-07 [16] EU outlines measures to end Russian gas, oil imports by end-2027 https://balkangreenenergynews.com/eu-outlines-measures-to-end-russian-gas-oil-imports-by-end-2027/ [17] Az Európai Unió 2027 végére betiltaná az orosz gáz importját https://www.korkep.sk/cikkek/gazdasag/2025/05/05/az-europai-unio-2027-vegere-betiltana-az-orosz-gazimportot/ [18] Ficónak és Orbánnak sem tetszik, hogy az EU teljesen kitiltaná az ... https://napunk.dennikn.sk/hu/4623240/ficonak-es-orbannak-sem-tetszik-hogy-az-eu-teljesen-kitiltana-az-orosz-energiat/ [19] Várhelyi Olivér késlelteti az EU orosz energiafüggőségét felszámoló ... https://telex.hu/kulfold/2025/05/05/varhelyi-oliver-europai-bizottsag-orosz-energia-kivaltas-hatraltatas [20] REPowerEU roadmap - Energy - European Commission https://energy.ec.europa.eu/strategy/repowereu-roadmap_en

@ b83a28b7:35919450

This article was originally part of the sermon of Plebchain Radio Episode 109 (April 25, 2025) that nostr:nprofile1qyxhwumn8ghj7mn0wvhxcmmvqyg8wumn8ghj7mn0wd68ytnvv9hxgqpqtvqc82mv8cezhax5r34n4muc2c4pgjz8kaye2smj032nngg52clq7fgefr and I did with Noa Gruman from nostr:nprofile1qyv8wumn8ghj7urjv4kkjatd9ec8y6tdv9kzumn9wsqzqvfdqratfpsvje7f3w69skt34vd7l9r465d5hm9unucnl95yq0ethzx7cf and nostr:nprofile1qye8wumn8ghj7mrwvf5hguewwpshqetjwdshguewd9hj7mn0wd68ycmvd9jkuap0v9cxjtmkxyhhyetvv9usz9rhwden5te0dehhxarj9ehx2cn4w5hxccgqyqj8hd6eed2x5w8pqgx82yyrrpfx99uuympcxmkxgz9k2hklg8te7pq0y72 . You can listen to the full episode here:

https://fountain.fm/episode/gdBHcfDgDXEgALjX7nBu

Let’s start with the obvious: Bitcoin is metal because it’s loud, it’s aggressive, it’s uncompromising. It’s the musical equivalent of a power chord blasted through a wall of amps—a direct challenge to the establishment, to the fiat system, to the sanitized, soulless mainstream. Metal has always been about rebellion, about standing outside the norm and refusing to be tamed. Bitcoin, too, was born in the shadows, dismissed as the currency of outlaws and freaks, and it thrived there, fueled by the energy of those who refused to bow down

But Bitcoin isn’t just any metal. It’s progressive metal. 
Prog metal is the genre that takes metal’s aggression and fuses it with experimentation, complexity, and a relentless drive to push boundaries. It’s not satisfied with three chords and a chorus. Prog metal is about odd time signatures, intricate solos, unexpected detours, and stories that dig into philosophy, psychology, and the human condition. It’s music for those who want more than just noise—they want meaning, depth, and innovation.

That’s Bitcoin. Bitcoin isn’t just a blunt instrument of rebellion; it’s a living, evolving experiment. It’s code that’s open to anyone, a protocol that invites innovation, a system that’s constantly being pushed, prodded, and reimagined by its community.

Like prog metal, Bitcoin is for the thinkers, the tinkerers, the relentless questioners. It’s for those who see the flaws in the mainstream and dare to imagine something radically different. 


Both prog metal and Bitcoin are about freedom — freedom from the tyranny of the predictable, the safe, the centrally controlled. They are countercultures within countercultures, refusing to be boxed in by genre or by law. Both attract those who crave complexity, who aren’t afraid to get lost in the weeds, who want to build something new and beautiful from the chaos. 


If you want to reach the heart of Bitcoin’s counterculture, you don’t do it with bland, safe, mainstream pop. You do it with prog metal—with music that refuses to compromise, that demands your attention, that rewards those who dig deeper. Prog metal is the true voice of Bitcoin’s core: the plebs, the builders, the dreamers who refuse to accept the world as it is. 


Bitcoin is prog metal. It’s technical, it’s rebellious, it’s unafraid to be different. It’s music and money for those who want to break free—not just from the old systems, but from the old ways of thinking. And as the mainstream tries to water down both, the true counterculture survives at the core, pushing boundaries, making noise, and refusing to die.

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The sermon and episode clearly had an impact on people, as evidenced by the fountain charts here (snapshot taken on May 6, 2025)

nostr:nevent1qvzqqqqqqypzqkcpsw4kc03j906dg8rt8thes432z3yy0d6fj4phylz48xs3g437qqsy7rfh8n6vgxppkwzq2ntjps0lmt4njkxjrv3rv5r59l7lkv6ahps2eavd9 And here's the clip of the sermon:

nostr:nevent1qvzqqqqqqypzpwp69zm7fewjp0vkp306adnzt7249ytxhz7mq3w5yc629u6er9zsqqsptkpkd0458yshe7gfshck2f9nfxnqe0nrjz0ptlkm9rhv094rxagapyv4d

@ 57d1a264:69f1fee1

Shifting left on accessibility means building inclusivity into every phase of a project—from strategy to QA—saving time, reducing risk, and creating better user experiences.

Shifting left is about collaboration: a successful website project isn’t a linear train ride from content to design to development. It’s a dynamic, collaborative ecosystem that means everyone contributes.

• Strategists ensure content is easy to find.
• Designers prioritize color contrast, readable typography, and interactive elements.
• Back-end developers support accessible content structures and accessible interaction.
• Front-end developers implement semantic markup and accessible UI components.
• QA testers verify functionality across assistive devices.
• DevOps engineers integrate automated accessibility checks into the workflow.
• Technical project managers: keep accessibility visible and prioritized.

Accessibility should be part of every conversation—from kickoff to QA.

Read the full article at https://www.lullabot.com/articles/what-it-means-shift-left-accessibility-and-how-do-it-right

originally posted at https://stacker.news/items/977943

@ 8d5ba92c:c6c3ecd5

"There are seasons to give and seasons to receive. The more we give when we can, the more we receive when we need to. That’s how great relationships work. That’s how resilient communities grow." (— Anja Schuetz )

On May 22 (Bitcoin Pizza Day, which this year in Warsaw, PL, makes a Day Zero for Bitcoin FilmFest 2025), Bitvocation, special cameos for this edition, will host a unique networking session — ₿-Social.

• Fast-paced, good vibes, to help all participants build closer connections, and for those who need it, to break free from the fiat job with high signal resources and guidance.

• Expect conversations that go beyond “What do you do?” and “How long have you been in Bitcoin?”

• Less small talk, more real connections with fellow Bitcoiners—filmmakers, musicians, artists, founders, builders, and creative souls. For everyone who wants to share, learn, give, take, meet others, and collaborate.

- Bitcoiners from all over Europe + Honduras, El Salvador, Thailand, the US, Canada, Australia, Turkey, Iran, Dubai, and other corners of the world.

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As Anja, the founder of Bitvocation, once told me:

"Face-to-face interactions create real connections and trust—vital ingredients for Bitcoin’s social layer. The best opportunities come to those who truly show up."

Thus, hope to see you in Warsaw, at Bitcoin FilmFest 2025. Get your ticket here, if you haven't done so yet (🟠 use the code 'BITVOCATION' to get a 10% discount). The 3rd annual edition. Around 300 people. Orange-pill cinema, decentralized music, permissionless, art. No other way, it's going to be FUN!

💡 Check more about Bitvocation, a dynamic project empowering Bitcoiners with tools, guidance, and even hands-on work experience, for careers in Bitcoin-only markets.

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BTC Your Mind. Let it Beat.... Şela

@ 57d1a264:69f1fee1

VIET GD is a casual index, archive, and celebration of Vietnamese graphic design. Currently, there are 274 objects in this collection. Understandably, a lot of propaganda posters... as well as music themed ones! Here below some of the most interesting ones:

Explore them all at https://vietgd.com/

originally posted at https://stacker.news/items/977939

@ a9434ee1:d5c885be

Colors as a fun and useful identifier

Nostr apps often use totally random colors for their default avatars, profiles names in chat bubbles, etc... That's a missed opportunity. Why don't we just we just derive a color from the npub and use that instead, interoperably across apps?

It gives us a fun and visual extra point of recognition, often without having to add anything extra to the UIs.

The only problem is that we cannot just allow for any color. The colors should be readable as text in Light and Dark modes and gray-scales should be avoided too.

This is the goal: Luckily, there's a super simple solution.
(which was used to derive the colors above)

Deriving the Colors

You can find the simple spec here: nostr: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

TLDR: 1. Convert HEX pubkey to Int 2. Calculate the Hue value: Int % 360 3. Set Saturation to 90 for Hues between 216 and 273, use 80 for the rest 4. Set Brightness to 65 for Hues between 32 and 212, use 85 for the rest

Convert HSB color to whatever format you need. Done.

Easy & Fun to integrate!

@ 5d4b6c8d:8a1c1ee3

One of the best first rounds in recent memory just concluded. Let's recap our playoff contests.

Bracket Challenge

In our joint contest with Global Sports Central, @WeAreAllSatoshi is leading the way with 85 points, while me and some nostr jabroni are tied for second with 80 points.

The bad news is that they are slightly ahead of us, with an average score of 62 to our 60.8. We need to go back in time and make less stupid picks.

Points Challenge

With the Warriors victory, I jumped into a commanding lead over @grayruby. LA sure let most of you down. I say you hold @realBitcoinDog responsible for his beloved hometown's failures.

I still need @Car and @Coinsreporter to make their picks for this round. The only matchup they can choose from is Warriors (7) @ Timberwolves (6). Lucky for them, that's probably the best one to choose from.

| Stacker | Points | |---------|--------| | @Undisciplined | 25| | @grayruby | 24| | @Coinsreporter | 19 | | @BlokchainB | 19| | @Carresan | 18 | | @gnilma | 18 | | @WeAreAllSatoshi | 12 | | @fishious | 11 | | @Car | 1 |

originally posted at https://stacker.news/items/973284

@ bbef5093:71228592

India csökkentené az atomerőművek építési idejét ambiciózus nukleáris céljai eléréséhez

India célja, hogy a jelenlegi 10 évről a „világszínvonalú” 6 évre csökkentse atomerőművi projektjeinek kivitelezési idejét, hogy elérje a 2047-re kitűzött, 100 GW beépített nukleáris kapacitást.

Az SBI Capital Markets (az Indiai Állami Bank befektetési banki leányvállalata) jelentése szerint ez segítene mérsékelni a korábbi költségtúllépéseket, és vonzóbbá tenné az országot a globális befektetők számára.

A jelentés szerint a jelenlegi, mintegy 8 GW kapacitás és a csak 7 GW-nyi építés alatt álló kapacitás mellett „jelentős gyorsítás” szükséges a célok eléréséhez.

A kormány elindította a „nukleáris energia missziót”, amelyhez körülbelül 2,3 milliárd dollárt (2 milliárd eurót) különített el K+F-re és legalább öt Bharat kis moduláris reaktor (BSMR) telepítésére, de további kihívásokat kell megoldania a célok eléréséhez.

Az építési idők csökkentése kulcsfontosságú, de a jelentés átfogó rendszerszintű reformokat is javasol, beleértve a gyorsabb engedélyezést, a földszerzési szabályok egyszerűsítését, az erőművek körüli védőtávolság csökkentését, és a szabályozó hatóság (Atomic Energy Regulatory Board) nagyobb önállóságát.

A jelentés szerint a nemzet korlátozott uránkészletei miatt elengedhetetlen az üzemanyagforrások diverzifikálása nemzetközi megállapodások révén, valamint az indiai nukleáris program 2. és 3. szakaszának felgyorsítása.

India háromlépcsős nukleáris programja célja egy zárt üzemanyagciklus kialakítása, amely a természetes uránra, a plutóniumra és végül a tóriumra épül. A 2. szakaszban gyorsneutronos reaktorokat használnak, amelyek több energiát nyernek ki az uránból, kevesebb bányászott uránt igényelnek, és a fel nem használt uránt új üzemanyaggá alakítják. A 3. szakaszban fejlett reaktorok működnek majd India hatalmas tóriumkészleteire alapozva.

2025 januárjában az indiai Nuclear Power Corporation (NPCIL) pályázatot írt ki Bharat SMR-ek telepítésére, először nyitva meg a nukleáris szektort indiai magáncégek előtt.

Eddig csak az állami tulajdonú NPCIL építhetett és üzemeltethetett kereskedelmi atomerőműveket Indiában.

A Bharat SMR-ek (a „Bharat” hindiül Indiát jelent) telepítése a „Viksit Bharat” („Fejlődő India”) program része.

Engedélyezési folyamat: „elhúzódó és egymásra épülő”

A Bharat atomerőmű fejlesztésének részletei továbbra sem világosak, de Nirmala Sitharaman pénzügyminiszter júliusban elmondta, hogy az állami National Thermal Power Corporation és a Bharat Heavy Electricals Limited közös vállalkozásában valósulna meg a fejlesztés.

Sitharaman hozzátette, hogy a kormány a magánszektorral közösen létrehozna egy Bharat Small Reactors nevű céget, amely SMR-ek és új nukleáris technológiák kutatás-fejlesztésével foglalkozna.

Az SBI jelentése szerint javítani kell az SMR programot, mert az engedélyezési folyamat jelenleg „elhúzódó és egymásra épülő”, és aránytalan kockázatot jelent a magánszereplők számára a reaktorfejlesztés során.

A program „stratégiailag jó helyzetben van a sikerhez”, mert szigorú belépési feltételeket támaszt, így csak komoly és alkalmas szereplők vehetnek részt benne.

A kormánynak azonban be kellene vezetnie egy kártérítési záradékot, amely védi a magáncégeket az üzemanyag- és nehézvíz-ellátás hiányától, amely az Atomenergia Minisztérium (DAE) hatáskörébe tartozik.

A jelentés szerint mind az üzemanyag, mind a nehézvíz ellátása a DAE-től függ, és „a hozzáférés hiánya” problémát jelenthet. India legtöbb kereskedelmi atomerőműve hazai fejlesztésű, nyomottvizes nehézvizes reaktor.

A jelentés szerint: „A meglévő szabályozási hiányosságok kezelése kulcsfontosságú, hogy a magánszektor vezethesse a kitűzött 100 GW nukleáris kapacitás 50%-ának fejlesztését 2047-ig.”

Az NPCIL nemrégiben közölte, hogy India 2031–32-ig további 18 reaktort kíván hozzáadni az energiamixhez, ezzel az ország nukleáris kapacitása 22,4 GW-ra nő.

A Nemzetközi Atomenergia-ügynökség adatai szerint Indiában 21 reaktor üzemel kereskedelmi forgalomban, amelyek 2023-ban az ország áramtermelésének körülbelül 3%-át adták. Hat egység van építés alatt.

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Roszatom pert indított a leállított Hanhikivi-1 projekt miatt Finnországban

Az orosz állami Roszatom atomenergetikai vállalat pert indított Moszkvában a finn Fortum és Outokumpu cégek ellen, és 227,8 milliárd rubel (2,8 milliárd dollár, 2,4 milliárd euró) kártérítést követel a finnországi Hanhikivi-1 atomerőmű szerződésének felmondása miatt – derül ki bírósági dokumentumokból és a Roszatom közleményéből.

A Roszatom a „mérnöki, beszerzési és kivitelezési (EPC) szerződés jogellenes felmondása”, a részvényesi megállapodás, az üzemanyag-ellátási szerződés megsértése, valamint a kölcsön visszafizetésének megtagadása miatt követel kártérítést.

A Fortum a NucNetnek e-mailben azt írta, hogy „nem kapott hivatalos értesítést orosz perről”.

A Fortum 2025. április 29-i negyedéves jelentésében közölte, hogy a Roszatom finn leányvállalata, a Raos Project, valamint a Roszatom nemzetközi divíziója, a JSC Rusatom Energy International, illetve a Fennovoima (a Hanhikivi projektért felelős finn konzorcium) között a Hanhikivi EPC szerződésével kapcsolatban nemzetközi választottbírósági eljárás zajlik.

2025 februárjában a választottbíróság úgy döntött, hogy nincs joghatósága a Fortummal szembeni követelések ügyében. „Ez a döntés végleges volt, így a Fortum nem része a választottbírósági eljárásnak” – közölte a cég.

A Fortum 2015-ben kisebbségi tulajdonos lett a Fennovoima projektben, de a teljes tulajdonrészt 2020-ban leírta.

A Fennovoima konzorcium, amelyben a Roszatom a Raos-on keresztül 34%-os kisebbségi részesedéssel rendelkezett, 2022 májusában felmondta a Hanhikivi-1 létesítésére vonatkozó szerződést az ukrajnai háború miatti késedelmek és megnövekedett kockázatok miatt.

A projekt technológiája az orosz AES-2006 típusú nyomottvizes reaktor lett volna.

2021 áprilisában a Fennovoima közölte, hogy a projekt teljes beruházási költsége 6,5–7 milliárd euróról 7–7,5 milliárd euróra nőtt.

2022 augusztusában a Roszatom és a Fennovoima kölcsönösen milliárdos kártérítési igényt nyújtott be egymás ellen a projekt leállítása miatt.

A Fennovoima nemzetközi választottbírósági eljárást indított 1,7 milliárd euró előleg visszafizetéséért. A Roszatom 3 milliárd eurós ellenkeresetet nyújtott be. Ezek az ügyek jelenleg is nemzetközi bíróságok előtt vannak.

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Dél-koreai delegáció Csehországba utazik nukleáris szerződés aláírására

Egy dél-koreai delegáció 2025. május 6-án Csehországba utazik, hogy részt vegyen egy több milliárd dolláros szerződés aláírásán, amely két új atomerőmű építéséről szól a Dukovany telephelyen – közölte a dél-koreai kereskedelmi, ipari és energetikai minisztérium.

A delegáció, amelyben kormányzati és parlamenti tisztviselők is vannak, kétnapos prágai látogatásra indul, hogy részt vegyen a szerdára tervezett aláírási ceremónián.

A küldöttség találkozik Petr Fiala cseh miniszterelnökkel és Milos Vystrcil szenátusi elnökkel is, hogy megvitassák a Dukovany projektet.

Fiala múlt héten bejelentette, hogy Prága május 7-én írja alá a Dukovany szerződést a Korea Hydro & Nuclear Power (KHNP) céggel.

A cseh versenyhivatal nemrég engedélyezte a szerződés aláírását a KHNP-vel, miután elutasította a francia EDF fellebbezését.

A versenyhivatal április 24-i döntése megerősítette a korábbi ítéletet, amelyet az EDF megtámadott, miután 2024 júliusában elvesztette a tenderpályázatot a KHNP-vel szemben.

Ez lehetővé teszi, hogy a két dél-koreai APR1400 reaktor egység szerződését aláírják Dukovanyban, Dél-Csehországban. A szerződés az ország történetének legnagyobb energetikai beruházása, értéke legalább 400 milliárd korona (16 milliárd euró, 18 milliárd dollár).

A szerződést eredetileg márciusban írták volna alá, de a vesztes pályázók (EDF, Westinghouse) fellebbezései, dél-koreai politikai bizonytalanságok és a cseh cégek lokalizációs igényei miatt csúszott.

A KHNP januárban rendezte a szellemi tulajdonjogi vitát a Westinghouse-zal, amely korábban azt állította, hogy a KHNP az ő technológiáját használja az APR1400 reaktorokban.

A szerződés aláírása Dél-Korea első külföldi atomerőmű-építési projektje lesz 2009 óta, amikor a KHNP négy APR1400 reaktort épített az Egyesült Arab Emírségekben, Barakahban.

Csehországban hat kereskedelmi reaktor működik: négy orosz VVER-440-es Dukovanyban, két nagyobb VVER-1000-es Temelínben. Az IAEA szerint ezek az egységek a cseh áramtermelés mintegy 36,7%-át adják.

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Az USA-nak „minél előbb” új reaktort kell építenie – mondta a DOE jelöltje a szenátusi bizottság előtt

Az USA-nak minél előbb új atomerőművet kell építenie, és elő kell mozdítania a fejlett reaktorok fejlesztését, engedélyezését és telepítését – hangzott el a szenátusi energiaügyi bizottság előtt.

Ted Garrish, aki a DOE nukleáris energiaügyi helyettes államtitkári posztjára jelöltként jelent meg, elmondta: az országnak új reaktort kell telepítenie, legyen az nagy, kis moduláris vagy mikroreaktor.

Az USA-ban jelenleg nincs épülő kereskedelmi atomerőmű, az utolsó kettő, a Vogtle-3 és Vogtle-4 2023-ban, illetve 2024-ben indult el Georgiában.

„A nukleáris energia kivételes lehetőség a növekvő villamosenergia-igény megbízható, megfizethető és biztonságos kielégítésére” – mondta Garrish, aki tapasztalt atomenergetikai vezető. Szerinte az USA-nak nemzetbiztonsági okokból is fejlesztenie kell a hazai urándúsító ipart.

Vizsgálni kell a nemzetközi piacot és a kormányközi megállapodások lehetőségét az amerikai nukleáris fejlesztők és ellátási láncok számára, valamint meg kell oldani a kiégett fűtőelemek elhelyezésének problémáját.

1987-ben a Kongresszus a nevadai Yucca Mountain-t jelölte ki a kiégett fűtőelemek végleges tárolóhelyének, de 2009-ben az Obama-adminisztráció leállította a projektet.

Az USA-ban az 1950-es évek óta mintegy 83 000 tonna radioaktív hulladék, köztük kiégett fűtőelem halmozódott fel, amelyet jelenleg acél- és betonkonténerekben tárolnak az erőművek telephelyein.

Garrish korábban a DOE nemzetközi ügyekért felelős helyettes államtitkára volt (2018–2021), jelenleg az Egyesült Haladó Atomenergia Szövetség igazgatótanácsának elnöke.

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Egyéb hírek

Szlovénia közös munkát sürget az USA-val a nukleáris energiában:
Az USA és Horvátország tisztviselői együttműködésről tárgyaltak Közép- és Délkelet-Európa energiaellátásának diverzifikálása érdekében, különös tekintettel a kis moduláris reaktorokra (SMR). Horvátország és Szlovénia közösen tulajdonolja a szlovéniai Krško atomerőművet, amely egyetlen 696 MW-os nyomottvizes reaktorával Horvátország áramfogyasztásának 16%-át, Szlovéniáénak 20%-át adja. Szlovénia fontolgatja egy második blokk építését, de tavaly elhalasztotta az erről szóló népszavazást.

Malawi engedélyezi a Kayelekera uránbánya újraindítását:
A Malawi Atomenergia Hatóság kiadta a sugárbiztonsági engedélyt a Lotus (Africa) Limited számára, így újraindulhat a Kayelekera uránbánya, amely több mint egy évtizede, 2014 óta állt a zuhanó uránárak és biztonsági problémák miatt. A bánya 85%-át az ausztrál Lotus Resources helyi leányvállalata birtokolja. A Lotus szerint a bánya újraindítása teljesen finanszírozott, kb. 43 millió dollár (37 millió euró) tőkével.

Venezuela és Irán nukleáris együttműködést tervez:
Venezuela és Irán a nukleáris tudomány és technológia terén való együttműködésről tárgyalt. Az iráni állami média szerint Mohammad Eslami, az Iráni Atomenergia Szervezet vezetője és Alberto Quintero, Venezuela tudományos miniszterhelyettese egyetemi és kutatási programok elindításáról egyeztetett. Venezuelában nincs kereskedelmi atomerőmű, de 2010-ben Oroszországgal írt alá megállapodást új atomerőművek lehetőségéről. Iránnak egy működő atomerőműve van Bushehr-1-nél, egy másik ugyanott épül, mindkettőt Oroszország szállította.

@ 57d1a264:69f1fee1

A set of beautifully-designed, accessible components and a code distribution platform. Works with your favorite frameworks. Open Source. Open Code.

This is how @kurtispapple make use of it https://www.linkedin.com/pulse/championing-health-data-interoperability-my-journey-nz-kurtis-papple-mwglc

Start building yours at https://ui.shadcn.com/

originally posted at https://stacker.news/items/977930

@ b6dcdddf:dfee5ee7

You can now fund projects on Geyser using Credit Cards, Apple Pay, Bank Transfers, and more.

The best part: 🧾 You pay in fiat and ⚡️ the creator receives Bitcoin.

You heard it right! Let's dive in 👇

First, how does it work? For contributors, it's easy! Once the project creator has verified their identity, anyone can contribute with fiat methods. Simply go through the usual contribution flow and select 'Pay with Fiat'. The first contribution is KYC-free.

Why does this matter? 1. Many Bitcoiners don't want to spend their Bitcoin: 👉 Number go up (NgU) 👉 Capital gains taxes With fiat contributions, there's no more excuse to contribute towards Bitcoin builders and creators! 2. Non-bitcoin holders want to support projects too. If someone loves your mission but only has a debit card, they used to be stuck. Now? They can back your Bitcoin project with familiar fiat tools. Now, they can do it all through Geyser!

So, why swap fiat into Bitcoin? Because Bitcoin is borderless. Fiat payouts are limited to certain countries, banks, and red tape. By auto-swapping fiat to Bitcoin, we ensure: 🌍 Instant payouts to creators all around the world ⚡️ No delays or restrictions 💥 Every contribution is also a silent Bitcoin buy

How to enable Fiat contributions If you’re a creator, it’s easy: - Go to your Dashboard → Wallet - Click “Enable Fiat Contributions” - Complete a quick ID verification (required by our payment provider) ✅ That’s it — your project is now open to global fiat supporters.

Supporting Bitcoin adoption At Geyser, our mission is to empower Bitcoin creators and builders. Adding fiat options amplifies our mission. It brings more people into the ecosystem while staying true to what we believe: ⚒️ Build on Bitcoin 🌱 Fund impactful initiatives 🌎 Enable global participation

**Support projects with fiat now! ** We've compiled a list of projects that currently have fiat contributions enabled. If you've been on the fence to support them because you didn't want to spend your Bitcoin, now's the time to do your first contribution!

Education - Citadel Dispatch: https://geyser.fund/project/citadel - @FREEMadeiraOrg: https://geyser.fund/project/freemadeira - @MyfirstBitcoin_: https://geyser.fund/project/miprimerbitcoin

Circular Economies - @BitcoinEkasi: https://geyser.fund/project/bitcoinekasi - Madagascar Bitcoin: https://geyser.fund/project/madagasbit - @BitcoinChatt : https://geyser.fund/project/bitcoinchatt - Uganda Gayaza BTC Market: https://geyser.fund/project/gayazabtcmarket

Activism - Education Bitcoin Channel: https://geyser.fund/project/streamingsats

Sports - The Sats Fighter Journey: https://geyser.fund/project/thesatsfighterjourney

Culture - Bitcoin Tarot Cards: https://geyser.fund/project/bitcointarotcard

originally posted at https://stacker.news/items/973003

@ cecdc1e8:b6c264ee

GM

@ c1e9ab3a:9cb56b43

If you're an engineer stepping into the Bitcoin space from the broader crypto ecosystem, you're probably carrying a mental model shaped by speed, flexibility, and rapid innovation. That makes sense—most blockchain platforms pride themselves on throughput, programmability, and dev agility.

But Bitcoin operates from a different set of first principles. It’s not competing to be the fastest network or the most expressive smart contract platform. It’s aiming to be the most credible, neutral, and globally accessible value layer in human history.

Here’s why that matters—and why Bitcoin is not just an alternative crypto asset, but a structural necessity in the global financial system.

1. Bitcoin Fixes the Triffin Dilemma—Not With Policy, But Protocol

The Triffin Dilemma shows us that any country issuing the global reserve currency must run persistent deficits to supply that currency to the world. That’s not a flaw of bad leadership—it’s an inherent contradiction. The U.S. must debase its own monetary integrity to meet global dollar demand. That’s a self-terminating system.

Bitcoin sidesteps this entirely by being:

• Non-sovereign – no single nation owns it
• Hard-capped – no central authority can inflate it
• Verifiable and neutral – anyone with a full node can enforce the rules

In other words, Bitcoin turns global liquidity into an engineering problem, not a political one. No other system, fiat or crypto, has achieved that.

2. Bitcoin’s “Ossification” Is Intentional—and It's a Feature

From the outside, Bitcoin development may look sluggish. Features are slow to roll out. Code changes are conservative. Consensus rules are treated as sacred.

That’s the point.

When you’re building the global monetary base layer, stability is not a weakness. It’s a prerequisite. Every other financial instrument, app, or protocol that builds on Bitcoin depends on one thing: assurance that the base layer won’t change underneath them without extreme scrutiny.

So-called “ossification” is just another term for predictability and integrity. And when the market does demand change (SegWit, Taproot), Bitcoin’s soft-fork governance process has proven capable of deploying it safely—without coercive central control.

3. Layered Architecture: Throughput Is Not a Base Layer Concern

You don’t scale settlement at the base layer. You build layered systems. Just as TCP/IP doesn't need to carry YouTube traffic directly, Bitcoin doesn’t need to process every microtransaction.

Instead, it anchors:

• Lightning (fast payments)
• Fedimint (community custody)
• Ark (privacy + UTXO compression)
• Statechains, sidechains, and covenants (coming evolution)

All of these inherit Bitcoin’s security and scarcity, while handling volume off-chain, in ways that maintain auditability and self-custody.

4. Universal Assayability Requires Minimalism at the Base Layer

A core design constraint of Bitcoin is that any participant, anywhere in the world, must be able to independently verify the validity of every transaction and block—past and present—without needing permission or relying on third parties.

This property is called assayability—the ability to “test” or verify the authenticity and integrity of received bitcoin, much like verifying the weight and purity of a gold coin.

To preserve this:

• The base layer must remain resource-light, so running a full node stays accessible on commodity hardware.
• Block sizes must remain small enough to prevent centralization of verification.
• Historical data must remain consistent and tamper-evident, enabling proof chains across time and jurisdiction.

Any base layer that scales by increasing throughput or complexity undermines this fundamental guarantee, making the network more dependent on trust and surveillance infrastructure.

Bitcoin prioritizes global verifiability over throughput—because trustless money requires that every user can check the money they receive.

5. Governance: Not Captured, Just Resistant to Coercion

The current controversy around OP_RETURN and proposals to limit inscriptions is instructive. Some prominent devs have advocated for changes to block content filtering. Others see it as overreach.

Here's what matters:

• No single dev, or team, can force changes into the network. Period.
• Bitcoin Core is not “the source of truth.” It’s one implementation. If it deviates from market consensus, it gets forked, sidelined, or replaced.
• The economic majority—miners, users, businesses—enforce Bitcoin’s rules, not GitHub maintainers.

In fact, recent community resistance to perceived Core overreach only reinforces Bitcoin’s resilience. Engineers who posture with narcissistic certainty, dismiss dissent, or attempt to capture influence are routinely neutralized by the market’s refusal to upgrade or adopt forks that undermine neutrality or openness.

This is governance via credible neutrality and negative feedback loops. Power doesn’t accumulate in one place. It’s constantly checked by the network’s distributed incentives.

6. Bitcoin Is Still in Its Infancy—And That’s a Good Thing

You’re not too late. The ecosystem around Bitcoin—especially L2 protocols, privacy tools, custody innovation, and zero-knowledge integrations—is just beginning.

If you're an engineer looking for:

• Systems with global scale constraints
• Architectures that optimize for integrity, not speed
• Consensus mechanisms that resist coercion
• A base layer with predictable monetary policy

Then Bitcoin is where serious systems engineers go when they’ve outgrown crypto theater.

Take-away

Under realistic, market-aware assumptions—where:

• Bitcoin’s ossification is seen as a stability feature, not inertia,
• Market forces can and do demand and implement change via tested, non-coercive mechanisms,
• Proof-of-work is recognized as the only consensus mechanism resistant to fiat capture,
• Wealth concentration is understood as a temporary distribution effect during early monetization,
• Low base layer throughput is a deliberate design constraint to preserve verifiability and neutrality,
• And innovation is layered by design, with the base chain providing integrity, not complexity...

Then Bitcoin is not a fragile or inflexible system—it is a deliberately minimal, modular, and resilient protocol.

Its governance is not leaderless chaos; it's a negative-feedback structure that minimizes the power of individuals or institutions to coerce change. The very fact that proposals—like controversial OP_RETURN restrictions—can be resisted, forked around, or ignored by the market without breaking the system is proof of decentralized control, not dysfunction.

Bitcoin is an adversarially robust monetary foundation. Its value lies not in how fast it changes, but in how reliably it doesn't—unless change is forced by real, bottom-up demand and implemented through consensus-tested soft forks.

In this framing, Bitcoin isn't a slower crypto. It's the engineering benchmark for systems that must endure, not entertain.

Final Word

Bitcoin isn’t moving slowly because it’s dying. It’s moving carefully because it’s winning. It’s not an app platform or a sandbox. It’s a protocol layer for the future of money.

If you're here because you want to help build that future, you’re in the right place.

nostr:nevent1qqswr7sla434duatjp4m89grvs3zanxug05pzj04asxmv4rngvyv04sppemhxue69uhkummn9ekx7mp0qgs9tc6ruevfqu7nzt72kvq8te95dqfkndj5t8hlx6n79lj03q9v6xcrqsqqqqqp0n8wc2

nostr:nevent1qqsd5hfkqgskpjjq5zlfyyv9nmmela5q67tgu9640v7r8t828u73rdqpr4mhxue69uhkymmnw3ezucnfw33k76tww3ux76m09e3k7mf0qgsvr6dt8ft292mv5jlt7382vje0mfq2ccc3azrt4p45v5sknj6kkscrqsqqqqqp02vjk5

nostr:nevent1qqstrszamvffh72wr20euhrwa0fhzd3hhpedm30ys4ct8dpelwz3nuqpr4mhxue69uhkymmnw3ezucnfw33k76tww3ux76m09e3k7mf0qgs8a474cw4lqmapcq8hr7res4nknar2ey34fsffk0k42cjsdyn7yqqrqsqqqqqpnn3znl

@ 57d1a264:69f1fee1

It's incredible how deep people can go into something so mundane as a post stamp. Postage stamps are a surprisingly complex topic, overlapping with money, collectibility and bank notes. I was a postage stamp enthusiast myself, but this is one of those “the universe is surprisingly detailed” type. The rules defining postage and how it has been ruling commerce for centuries is even more fascinating and intriguing.

Discover more at https://www.linyangchen.com/Philately

originally posted at https://stacker.news/items/977918

@ 90c656ff:9383fd4e

Bitcoin emerged as an alternative to the traditional financial system, offering a decentralized and censorship-resistant medium of exchange. However, this proposition directly challenges the control governments exert over the economy, particularly in terms of currency issuance and financial regulation. As a result, many governments view Bitcoin with suspicion and attempt to limit its adoption, while others seek to integrate it into the economy in a controlled manner.

Reasons for conflict between governments and Bitcoin

Government resistance to Bitcoin adoption stems from several key factors:

01 - Loss of Monetary Control: Governments manage monetary policy through the issuance of fiat currency and manipulation of interest rates. Bitcoin, with its fixed supply and decentralized nature, prevents governments from printing more money, thereby limiting their influence over the economy.

02 - Challenges in Taxation: Bitcoin usage makes it harder for authorities to monitor transactions and enforce tax collection, posing a challenge for governments that rely heavily on taxation to fund public services.

03 - Concerns Over Regulation and Financial Crime: Many governments argue that Bitcoin can be used for money laundering, tax evasion, and other illicit activities. However, since all transactions are recorded on the blockchain (or timechain), Bitcoin is actually more traceable than physical cash.

04 - Competition with Central Bank Digital Currencies (CBDCs): Some governments are developing their own digital currencies, known as CBDCs. These offer a high level of control over financial transactions but lack Bitcoin’s decentralized properties. To promote CBDC adoption, some governments attempt to restrict or ban Bitcoin.

Different countries have taken varied approaches to Bitcoin, ranging from full acceptance to outright repression.

• El Salvador:

In 2021, El Salvador became the first country to adopt Bitcoin as legal tender. This decision sparked conflict with global financial institutions like the International Monetary Fund (IMF), which pressured the Salvadoran government to reverse its stance.

• China:

The Chinese government banned Bitcoin mining and usage entirely in 2021, citing environmental concerns and financial risks. Nonetheless, many Chinese miners and users continue to operate through alternative means.

• United States:

While Bitcoin is legal in the U.S., the government has imposed stricter regulations on exchanges and mining operations, seeking to exert more control over the sector. Some politicians advocate for a pro-Bitcoin stance, while others see it as a threat to the dollar.

• European Union:

The EU has taken a more rigorous regulatory approach, requiring user identification and transaction transparency. Despite this, Bitcoin remains legal and widely used.

Despite the challenges imposed by some governments, Bitcoin adoption continues to grow. Many users see Bitcoin as a way to preserve wealth in the face of inflationary monetary policies and excessive government control over money. Furthermore, in countries with unstable economies and limited access to financial services, Bitcoin provides a solution for international payments and protection against economic crises.

Government resistance may slow Bitcoin adoption in certain regions, but it is unlikely to stop it entirely. As a decentralized and global network, Bitcoin will continue to be used regardless of restrictions imposed by any single government. In the long run, its adoption will depend on individuals and businesses standing firm against regulatory pressures and continuing to use it as a financial alternative.

In summary, the conflict between governments and Bitcoin reflects the broader struggle between a centralized traditional financial system and a new decentralized alternative. While some countries seek to ban or restrict its use, others embrace it as part of their economy. Ultimately, government resistance may only delay-but not prevent-the global adoption of Bitcoin, which continues to demonstrate its resilience and utility as a store of value and medium of exchange.

Thank you very much for reading this far. I hope everything is well with you, and sending a big hug from your favorite Bitcoiner maximalist from Madeira. Long live freedom!

@ 80a6a657:536a97e2

The dawn of Bitcoin ushered in a transformative mission: empowering individuals and dismantling centralized power structures that erode personal freedoms. As the world’s first decentralized currency, Bitcoin offers an alternative financial system—one that transcends borders, government control, and corporate interests.

But this mission isn’t just about money. It’s about freedom. It’s about self-sovereignty. And most importantly, it’s a rallying cry for vigilance in an ongoing struggle for the liberation of humanity from systemic oppression. Who better to lead this critical mission than those who have already dedicated their lives to serving and protecting freedom: Veterans.

Freedom: A Lifelong Fight Freedom is neither freely given nor guaranteed—it is earned and fiercely preserved. Veterans understand this intimately. They have endured sacrifice, hardship, and battle in their service to protect the liberties we often take for granted. And today, freedom faces threats from a new frontier: financial manipulation, surveillance, and the centralization of power.

Governments across the globe continue to devalue currencies through inflation, tighten financial surveillance by controlling banking systems, and stifle individual autonomy. These issues underscore the need for a sound financial alternative, one that aligns with the ideals veterans have sworn to uphold. The solution? Bitcoin.

Bitcoin represents the antithesis of centralized control. It is censorship-resistant, immune to monetary debasement, and built upon a trustless, transparent system. It is not merely a currency; it is a tool for human liberation.

Vigilance in Bitcoin Adoption While Bitcoin adoption grows, the journey is far from complete. The powerful status quo—central banks, governments, and financial elites—does not take threats to its systems lightly. These entities work tirelessly to misinform, regulate, and marginalize Bitcoin. This makes sustained vigilance in promoting Bitcoin adoption not just important, but essential.

The failure to remain vigilant could see Bitcoin’s potential diminished through undue regulation, controlled implementation (such as CBDCs—Central Bank Digital Currencies), or a failure to educate people about its benefits. Complacency would mean ceding victory to oppressive systems the world over.

This is why Bitcoin adoption isn’t solely a technological phenomenon—it is an ideological mission. To resist control, to safeguard freedom, and to empower individuals to thrive under self-sovereignty requires the active participation of people across all sectors of society.

Why Veterans Are Uniquely Positioned to Lead Veterans are inherently equipped to lead the charge in the fight for Bitcoin adoption and the broader battle for freedom. Their unique skillsets, shaped by discipline, adaptability, and leadership under pressure, are perfectly suited to this challenge. Here’s why veterans play a pivotal role in this movement: 1. Leadership and Vision: Veterans are natural leaders. They can galvanize communities toward a vision of financial independence, self-sovereignty, and empowerment through Bitcoin. Their experience coordinating efforts—whether on the battlefield or in humanitarian missions—allows them to efficiently communicate the importance of Bitcoin adoption. 2. Commitment to Freedom: The fight for Bitcoin adoption is deeply aligned with the ethos of service members: defending freedom at all costs. Veterans understand that true freedom cannot persist without vigilance, sacrifice, and a commitment to challenging oppressive systems. 3. Trust and Credibility: The military often fosters a level of trust and camaraderie among people. Veterans, therefore, have the clout to introduce Bitcoin to communities that may otherwise view it with skepticism. Their credibility as protectors of freedom gives them an edge in delivering Bitcoin’s message of liberation. 4. Adaptability in Uncertain Environments: Just as they’ve thrived in complex and chaotic environments, veterans are poised to navigate the evolving financial landscape. Bitcoin is still maturing and faces regulatory challenges, technological hurdles, and cultural misunderstandings. Veterans excel at adapting to change and finding solutions in challenging circumstances. 5. Mission-Driven Mindset: Every mission has an objective, and every objective demands clear focus. Veterans approach tasks methodically and with a commitment to success—the same mindset required to bridge the gap between Bitcoin skepticism and widespread adoption.

The Call to Action Veterans, the mission isn’t over. Humanity stands at a crossroads, and freedom is at stake. Bitcoin is not just a disruptive technology; it’s the torchbearer of liberty in a world increasingly dominated by centralized control. It’s time to take the skills, discipline, and passion forged in your service and channel them into this new fight: the fight for financial freedom and independence from a centralized system that has dominated the lives of billions of people for far too long.

Educate yourself about Bitcoin. Learn its nuances, its strengths, and its use cases. Share this knowledge with your communities, help dismantle misconceptions, and shine a light on the real promise of self-sovereignty. Become an anchor of leadership in this decentralized revolution.

For civilians: do not underestimate the importance of this mission. Every individual who adopts Bitcoin drives us one step closer to a world where personal freedom and economic empowerment are accessible to all. Join arms with veterans, thought leaders, and Bitcoin adopters to ensure the torch of liberty burns brightly.

Closing Thoughts Bitcoin is more than a financial revolution—it’s a movement for freedom. Veterans have long stood on the frontline for this cause, and today, they have an opportunity to champion it in a new way. With vigilance, resolve, and determination, humanity can achieve greater levels of freedom. But, as with all efforts to secure liberty, we must remain constantly committed to the mission. Remember: freedom demands eternal vigilance. So does Bitcoin.

Will you answer the call? Together, we can reshape the future as champions of sovereignty and bring the world closer to the ideals we all deserve.

---

OPERATION BITCOIN is a 501(c)(3) nonprofit on a mission to connect military veterans with Bitcoin.

You can directly support this mission by sharing our publication with a veteran today, zapping this article or donating at www.operationbitcoin.io

@ bbef5093:71228592

*Holtec új atomenergetikai együttműködése Utah államban*

Az amerikai Holtec International stratégiai megállapodást kötött Utah állammal és a Hi Tech Solutions nukleáris szolgáltatóval, hogy elősegítse saját fejlesztésű, SMR-300 típusú kis moduláris reaktorainak (SMR) telepítését Utahban és az Egyesült Államok Mountain West régiójában. A megállapodás értelmében 2028-ig állandó képzési központot hoznak létre Utahban, amely az üzemeltetéshez, karbantartáshoz és az új generációs nukleáris technológiákhoz szükséges munkaerő képzését célozza, szoros együttműködésben helyi egyetemekkel, főiskolákkal és szakiskolákkal.

A projekt Utah állam energetikai stratégiájának („Operation Gigawatt” és „Built Here”) része, amely a következő tíz évben megduplázná az állam energiatermelését, kiemelt szerepet szánva a tiszta nukleáris energiának. A Holtec Utah-t választotta nyugati gyártóbázisának is, ezzel erősítve az amerikai nukleáris ellátási láncot és hosszú távú munkahelyeket teremtve. A cég a 2030-as években akár 4 GW összkapacitású SMR-300 telepítését tervezi főként Utahban és Wyomingban.

Az SMR-300 egy nyomottvizes reaktor, amely 300 MW villamos vagy 1050 MW hőteljesítményt biztosít, és a Holtec tervei szerint kulcsszerepet játszhat a tiszta, szén-dioxid-mentes energiatermelésben.

*Amerikai SMR-piac helyzete*

Az SMR-technológia az utóbbi években került a figyelem középpontjába, mivel gyorsabban és olcsóbban telepíthető, mint a hagyományos atomerőművek, és lehetőséget kínál magánbefektetők számára is. Ugyanakkor az első amerikai SMR-projekt, a NuScale és a Utah Associated Municipal Power Systems közös beruházása költségnövekedés miatt meghiúsult, ami rávilágított a technológia gazdasági kihívásaira.

Nemzetközi fejlemények és további hírek

• Az ausztrál Okapi Resources és az Urenco együttműködési megállapodást kötött új urán dúsítási technológia fejlesztésére, amely tisztább és olcsóbb dúsítási eljárást ígér.
• Az Argonne National Laboratory sikeresen kicserélt egy 30 éves kulcsfontosságú alkatrészt a nátriumhűtésű gyorsreaktor-tesztberendezésében, ami hozzájárulhat a gyorsreaktor-technológia fejlesztéséhez az Egyesült Államokban.
• A Tennessee Egyetem ösztöndíjprogramot indít a Fülöp-szigeteki nukleáris szakemberek képzésére, támogatva ezzel a délkelet-ázsiai ország nukleáris energiafejlesztési törekvéseit.
• Bulgáriában a Westinghouse Electric Company helyi beszállítókkal kötött megállapodásokat két új AP1000 típusú reaktor építéséhez a kozloduji atomerőműben.

@ d61f3bc5:0da6ef4a

I remember the first gathering of Nostr devs two years ago in Costa Rica. We were all psyched because Nostr appeared to solve the problem of self-sovereign online identity and decentralized publishing. The protocol seemed well-suited for textual content, but it wasn't really designed to handle binary files, like images or video.

The Problem

When I publish a note that contains an image link, the note itself is resilient thanks to Nostr, but if the hosting service disappears or takes my image down, my note will be broken forever. We need a way to publish binary data without relying on a single hosting provider.

We were discussing how there really was no reliable solution to this problem even outside of Nostr. Peer-to-peer attempts like IPFS simply didn't work; they were hopelessly slow and unreliable in practice. Torrents worked for popular files like movies, but couldn't be relied on for general file hosting.

Awesome Blossom

A year later, I attended the Sovereign Engineering demo day in Madeira, organized by Pablo and Gigi. Many projects were presented over a three hour demo session that day, but one really stood out for me.

Introduced by hzrd149 and Stu Bowman, Blossom blew my mind because it showed how we can solve complex problems easily by simply relying on the fact that Nostr exists. Having an open user directory, with the corresponding social graph and web of trust is an incredible building block.

Since we can easily look up any user on Nostr and read their profile metadata, we can just get them to simply tell us where their files are stored. This, combined with hash-based addressing (borrowed from IPFS), is all we need to solve our problem.

How Blossom Works

The Blossom protocol (Blobs Stored Simply on Mediaservers) is formally defined in a series of BUDs (Blossom Upgrade Documents). Yes, Blossom is the most well-branded protocol in the history of protocols. Feel free to refer to the spec for details, but I will provide a high level explanation here.

The main idea behind Blossom can be summarized in three points:

1. Users specify which media server(s) they use via their public Blossom settings published on Nostr;
2. All files are uniquely addressable via hashes;
3. If an app fails to load a file from the original URL, it simply goes to get it from the server(s) specified in the user's Blossom settings.

Just like Nostr itself, the Blossom protocol is dead-simple and it works!

Let's use this image as an example:

If you look at the URL for this image, you will notice that it looks like this:

blossom.primal.net/c1aa63f983a44185d039092912bfb7f33adcf63ed3cae371ebe6905da5f688d0.jpg

All Blossom URLs follow this format:

[server]/[file-hash].[extension]

The file hash is important because it uniquely identifies the file in question. Apps can use it to verify that the file they received is exactly the file they requested. It also gives us the ability to reliably get the same file from a different server.

Nostr users declare which media server(s) they use by publishing their Blossom settings. If I store my files on Server A, and they get removed, I can simply upload them to Server B, update my public Blossom settings, and all Blossom-capable apps will be able to find them at the new location. All my existing notes will continue to display media content without any issues.

Blossom Mirroring

Let's face it, re-uploading files to another server after they got removed from the original server is not the best user experience. Most people wouldn't have the backups of all the files, and/or the desire to do this work.

This is where Blossom's mirroring feature comes handy. In addition to the primary media server, a Blossom user can set one one or more mirror servers. Under this setup, every time a file is uploaded to the primary server the Nostr app issues a mirror request to the primary server, directing it to copy the file to all the specified mirrors. This way there is always a copy of all content on multiple servers and in case the primary becomes unavailable, Blossom-capable apps will automatically start loading from the mirror.

Mirrors are really easy to setup (you can do it in two clicks in Primal) and this arrangement ensures robust media handling without any central points of failure. Note that you can use professional media hosting services side by side with self-hosted backup servers that anyone can run at home.

Using Blossom Within Primal

Blossom is natively integrated into the entire Primal stack and enabled by default. If you are using Primal 2.2 or later, you don't need to do anything to enable Blossom, all your media uploads are blossoming already.

To enhance user privacy, all Primal apps use the "/media" endpoint per BUD-05, which strips all metadata from uploaded files before they are saved and optionally mirrored to other Blossom servers, per user settings. You can use any Blossom server as your primary media server in Primal, as well as setup any number of mirrors:

## Conclusion

For such a simple protocol, Blossom gives us three major benefits:

1. Verifiable authenticity. All Nostr notes are always signed by the note author. With Blossom, the signed note includes a unique hash for each referenced media file, making it impossible to falsify.
2. File hosting redundancy. Having multiple live copies of referenced media files (via Blossom mirroring) greatly increases the resiliency of media content published on Nostr.
3. Censorship resistance. Blossom enables us to seamlessly switch media hosting providers in case of censorship.

Thanks for reading; and enjoy! 🌸

@ cb4352cd:a16422d7

In the early days of the internet, openness was a foundational value. Today, as the financial world undergoes its next great evolution, that same principle is making a powerful return — this time through open-source code, permissionless protocols, and user-owned ecosystems. The future of finance isn’t just digital. It’s open.

Beyond the Institution: A Shift in Trust

Traditional finance has always been built around institutions — banks, central authorities, and regulatory bodies. While these structures offer stability, they also limit access, enforce gatekeeping, and concentrate power.

Permissionless innovation flips this model. Instead of asking for approval, builders create protocols that anyone can use, fork, or improve. In DeFi, anyone with an internet connection can lend, borrow, or trade without relying on a centralized intermediary.

Composability: Financial Lego for the Internet Age

Open protocols don’t just stand alone — they connect. In Web3, composability means developers can build on top of each other’s code like financial Lego blocks. This accelerates experimentation and reduces duplication of effort.

You can build a lending protocol that integrates with a decentralized exchange, which in turn connects to a stablecoin, creating a rich, interoperable financial ecosystem — all without closed APIs or licensing fees.

DAOs and the Redefinition of Governance

Openness is not only about access — it’s about control. Decentralized Autonomous Organizations (DAOs) allow communities to govern protocols, allocate resources, and shape development roadmaps. In contrast to top-down decision-making, DAOs are built on transparency, collective voting, and participatory ownership.

As financial systems move on-chain, governance itself becomes programmable. This allows for more adaptive, responsive institutions that can evolve with user needs — not just boardroom mandates.

More Than Code: A Philosophical Shift

Open finance isn’t just a stack of protocols. It reflects a deeper belief: that financial systems should be inclusive, interoperable, and transparent by design.

This philosophy challenges legacy ideas of exclusivity and control. It opens space for local currencies, niche communities, experimental markets, and user-first financial design. It treats users not as passive consumers but as co-owners and co-builders.

How Beyond Banking Conference by WeFi Embraces Openness

This vision of open finance is a central theme of the Beyond Banking Conference by WeFi. Taking place online on May 30, 2025, the conference brings together pioneers from DeFi, AI, Web3, and FinTech to discuss permissionless technologies, composable architecture, and the human values behind them.

Speakers will explore how openness fuels innovation, and how protocol design shapes access, governance, and trust. From DAOs to AI-powered DeFi, the program emphasizes tools that scale freedom — not just efficiency.

In the future, finance won’t just be smart. It will be open. And that changes everything.

@ 9c9d2765:16f8c2c2

CHAPTER SIXTEEN

Mr. JP sat up abruptly as his phone buzzed. It was an anonymous message. He opened it slowly, his eyes scanning the contents with growing disbelief.

"James has returned to JP Enterprises. Charles reinstated him. He’s now President of your company."

His blood ran cold.

Mrs. JP saw the tension in his expression. "What’s wrong?"

"He’s back," Mr. JP said grimly. "Our son. James. He's taken over the company."

He stared into space, his mind reeling. "And Charles helped him..."

They had spent years trying to distance themselves from the disgrace of James’s past only to now be faced with the reality that he had clawed his way back into the empire they built.

The anonymous message was, of course, sent by Mark and Helen, each relishing in the chaos they had ignited. With the scandalous file now in their hands and James’s own family unknowingly brought into the picture, they believed the final blow was in place.

Mark leaned back in his chair and smiled as he read the forwarded documents.

"Let’s see how your so-called empire stands after this, James," he said quietly.

Helen, standing beside him, added coldly, "This time, he won’t survive it."

"How could he do this?" Mr. JP muttered under his breath, clutching his phone tightly. "How could Charles go behind my back and reinstall him? My own brother..."

The news that James had returned to JP Enterprises and not just as a member, but as its President had shaken him to the core. But what stung more was the betrayal he felt from Charles, who had once promised never to interfere in the matter again.

Fuming with rage and disbelief, Mr. JP boarded the next flight back home. Upon arrival, he didn’t even stop by the family estate. Instead, he went straight to the Regency Grand, the city’s most luxurious hotel, the same place he used to spend time with his family during better days. He booked the presidential suite and immediately dialed Charles' number.

"Meet me. Now. At the hotel," he barked before ending the call without waiting for a response.

Within the hour, Charles walked in, calm but aware of the storm brewing.

"You defied me, Charles," Mr. JP said, his voice icy. "You brought back the one person I had removed. The one person I swore would never set foot in the company again."

"Because you were wrong," Charles replied firmly. "You made a decision based on lies."

Mr. JP’s glare deepened.

"Lies? The records were clear embezzlement. Theft. He disgraced this family, Charles!"

Charles stood his ground. "Those records were manipulated. You never gave James a chance to explain himself."

He stepped closer. "The funds he was accused of stealing? He used them to invest in a struggling tech start-up that exploded in value two years later. That investment saved JP Enterprises during the economic downturn. The company is standing today because of James’s vision and sacrifice."

Silence filled the room.

Mr. JP felt his heart sink as the weight of Charles’s words settled in. He turned away, walking slowly to the window, staring out at the city skyline.

"All this time... I condemned my own son... exiled him... because I trusted false reports?"

Charles nodded. "Yes. And despite it all, he returned not for revenge, but to help us."

Tears welled up in Mr. JP’s eyes. His pride, once like stone, was now crumbling.

Without hesitation, he picked up his phone and dialed James’s number. The phone rang twice before James answered.

"Hello?" came the familiar voice, calm and distant.

"James... it’s your father." His voice trembled. "I... I’m sorry. I was wrong. Gravely wrong. Everything I believed about you was a lie. I let you down, son."

There was silence on the other end.

"I just found out the truth," Mr. JP continued. "And I’m proud of what you’ve done for the company, for our name. I want you to know... you are reinstated as the rightful heir to JP Enterprises. I want you back not just as President, but as my son."

James took a long pause before answering.

"It took you long enough," he said softly. "But... thank you."

Though James had once sworn not to seek his parents' approval, deep down, those words still mattered. And hearing them from the father who had disowned him brought a quiet sense of closure.

The rift that had torn them apart for years was beginning to heal.

"Dad, who told you I was the President of JP Enterprises?" James asked, his tone calm but firm as he stood before his father in the grand office of the family estate.

Mr. JP, still adjusting to the emotional weight of his recent apology, furrowed his brow. "It was anonymous, son. I received a message with no name, no clue. Just the information."

James narrowed his eyes. "Can you forward the message to me?"

"Of course," his father replied, pulling out his phone. Within seconds, the message was in James’s inbox.

Later that evening, James sat in his private office, staring at the message on his screen. Something about it felt off too calculated, too timely. He forwarded it to his personal cybersecurity team with one instruction: “Trace the source. I want to know everything about who sent it, how, and if they’re working with someone.”

Meanwhile, Ray Enterprises was thriving again under James’s investment. With the influx of capital and revitalized operations, profits were skyrocketing. However, while the company’s success looked promising on the surface, the Ray family was barely reaping the rewards.

James’s 85% share ensured he collected the lion’s portion of every deal. Robert, despite being the figurehead chairman, found himself managing a flourishing empire but receiving only crumbs in return.

Frustrated and desperate, Robert scheduled a private meeting with James.

"James, please... eighty-five percent is bleeding us dry. We’re grateful for what you’ve done truly but surely we can renegotiate?"

James leaned back in his chair, expression unreadable. "You signed the agreement, Robert. You knew the terms. And frankly, I'm not in the mood to revisit old conversations."

"We just want fairness," Robert pleaded. "A little breathing space"

"If this discussion continues," James interrupted coldly, "I’ll pull out my funds. And when I do, I promise Ray Enterprises will go down faster than it rose. Do I make myself clear?"

Robert’s face fell. He had no choice but to nod and walk away, defeated.

Two weeks later, James’s cybersecurity team sent their report. The source of the anonymous message had been traced and the result was both surprising and telling.

Tracy.

James sat silently as he read the details. Tracy, his own subordinate, had accessed restricted files from the company’s internal network. It wasn’t just a case of whistleblowing it was deliberate sabotage. But what intrigued him more was the fact that she had gone to great lengths to cover her tracks.

No one takes that risk alone, he thought.

Despite having the evidence in hand, James chose silence. Not out of mercy but strategy. He needed to know who she was working with. Who else had a vested interest in his downfall?

@ d7955b22:025a3ba9

O mundo dos jogos online tem se expandido rapidamente, oferecendo uma infinidade de opções para os jogadores. Entre as diversas plataformas disponíveis, o 99bra se destaca por sua variedade de opções e a experiência de usuário única que proporciona. Este artigo oferece uma visão detalhada sobre o que o 99bra tem a oferecer, desde suas características gerais até a experiência de jogo que promete satisfazer todos os tipos de jogadores.

Introdução à Plataforma 99bra 99bra é uma plataforma de entretenimento digital voltada para os entusiastas de jogos online. Com um design intuitivo e uma interface amigável, a plataforma foi criada para oferecer uma experiência de navegação fluida, seja em desktop ou dispositivos móveis. A plataforma se destaca pela sua confiabilidade e pela qualidade dos jogos oferecidos, sempre priorizando a segurança e a proteção dos dados de seus usuários.

Ao se cadastrar no 99bra, os jogadores têm acesso a uma ampla gama de opções de jogos, desde clássicos até lançamentos inovadores. O site se adapta às necessidades dos usuários, com suporte em português e atendimento ao cliente de excelência, tornando a plataforma acessível a jogadores de todas as idades e níveis de experiência. O processo de inscrição é rápido e simples, permitindo que os novos usuários comecem a se divertir em poucos minutos.

A Variedade de Jogos no 99bra O que realmente chama a atenção no 99bra é a diversidade de jogos oferecidos. A plataforma conta com uma vasta seleção de títulos, abrangendo uma ampla gama de gêneros. Seja você um fã de jogos de mesa, slots ou apostas esportivas, o 99bra tem algo para todos. Cada categoria de jogo é desenvolvida para garantir jogabilidade envolvente, gráficos impressionantes e uma experiência imersiva.

Jogos de Mesa Os jogos de mesa são um dos maiores atrativos da plataforma, com várias opções que incluem clássicos como blackjack, roleta e baccarat. Estes jogos oferecem uma experiência realista e dinâmica, com a possibilidade de interagir com outros jogadores. A interface é cuidadosamente projetada para garantir que cada clique e movimento se sinta natural, criando uma atmosfera que lembra a de um ambiente de jogo físico.

Slots e Máquinas de Vídeo Para os amantes das máquinas de vídeo, o 99bra oferece uma impressionante coleção de slots. Os jogadores podem explorar uma variedade de temas, desde aventuras épicas até histórias de fantasia, com gráficos vibrantes e animações cativantes. As funções de bônus, rodadas grátis e jackpots progressivos tornam os jogos ainda mais emocionantes, com a possibilidade de grandes vitórias a cada giro.

Apostas Esportivas Outro ponto forte da plataforma são as apostas esportivas. O 99bra oferece uma extensa seleção de esportes para os fãs de esportes ao vivo. Seja futebol, basquete, tênis ou eSports, a plataforma proporciona odds competitivas e a chance de apostar em eventos de todo o mundo, com atualizações em tempo real para garantir que o jogador esteja sempre informado.

A Experiência do Jogador A experiência do jogador é o aspecto que diferencia o 99bra de outras plataformas. Desde o momento do cadastro até as interações durante os jogos, a plataforma é projetada para oferecer facilidade, conforto e diversão sem interrupções. O 99bra é otimizado para fornecer uma navegação rápida e sem erros, com um layout que garante que o jogador possa acessar todos os jogos e funcionalidades de forma simples.

Além disso, a plataforma oferece recursos adicionais para tornar a experiência ainda mais envolvente. Os jogadores podem configurar preferências de jogo, participar de promoções exclusivas e interagir com outros jogadores, criando uma verdadeira comunidade. A segurança também é uma prioridade, com criptografia de dados avançada e processos de verificação para garantir que todas as transações e informações pessoais estejam protegidas.

Suporte ao Cliente O suporte ao cliente do 99bra é excepcional. A plataforma oferece múltiplos canais de atendimento, incluindo chat ao vivo, e-mail e telefone, para que os jogadores possam obter assistência rápida sempre que necessário. A equipe de suporte é altamente treinada e pronta para resolver qualquer dúvida ou problema de forma eficiente, garantindo que a experiência do jogador nunca seja comprometida.

Conclusão O 99bra é uma plataforma completa que atende aos mais altos padrões de qualidade e segurança no universo dos jogos online. Com uma vasta seleção de jogos, suporte ao cliente de excelência e uma experiência de usuário impecável, o 99bra se consolida como uma das opções mais atrativas para quem busca diversão e entretenimento. Se você está procurando uma plataforma que combine inovação, variedade e uma jogabilidade envolvente, o 99bra certamente é uma excelente escolha.

@ 6538925e:571e55c3

It’s been a little while since we released a major design update, so we’re really excited to get this new version of the app into your hands. Here’s a breakdown of all the main updates included in Fountain 1.2:

#### Library Design Update

• New content-type filters at the top of the page make it easier to navigate between podcasts and music in your library.

• Recently Played is now the default view in your library, so it’s easier to jump back into podcasts you’ve already started.

• The Music filter now makes it easier to find saved tracks and albums, and it also gives you a list of all the artists whose music you’ve saved.

• We’ve refreshed the design of the content cards to make it easier to see how much time is remaining on episodes you’ve already started.

#### Content Pages Design Update

• All of the different content pages have undergone an extensive redesign, including shows, episodes, artists, albums, tracks, clips and playlists

• We’ve replaced the tab layout we were using on the content pages with one scrollable page, making it easier to access features like chapters and tracklists

• We’ve sanitised the formatting of show notes too, and if there is no activity for a given episode, we now display the expanded show notes

#### Episode Summaries

Ever looked at a 4-hour Lex Fridman episode and wished you could just read a high-level summary? We certainly have, so we did something about it.

• Every episode page now has a Summary button above the show notes.

• Simply pay 500 sats to unlock a summary, or upgrade to Fountain Premium for $2.99/month to enjoy unlimited summaries.

• Summaries and transcripts now come as a bundle — two for the price of one!

• Thanks to major improvements, they’re now faster, cheaper, and more accurate than ever before.

#### Playback Improvements

We’ve completely rebuilt our audio engine from the ground up. Playback is now more robust and reliable — especially for music. Here are some of the key enhancements in Fountain 1.2:

• Tracks now load and play instantly when tapped.

• When playing a collection of tracks (e.g. from an artist, album, or playlist), you can now skip seamlessly between them.

• We’ve replaced the scrollable player page with full-screen modals to make it easier to access show notes, comments, transcripts, chapters, tracklists, and your queue.

• The new Smart Resume feature rewinds the episode by 5 seconds when you hit pause, so you don’t miss a beat.

• You can now skip forward or backward by 60 seconds for faster navigation through episodes.

Other Bug Fixes & Improvements

• Rebuilt payment stats for more complete and reliable transaction records.

• Refreshed the design of the Settings pages for better usability.

• Added new episode notification preferences in Settings.

• Fixed several playback issues that were causing crashes or freezes.

• Updated lock screen display and controls for livestreams.

• Fixed issue where the next item in the queue paused unexpectedly.

• Resolved playback stuttering on Android during livestreams.

• Fixed disappearing playback controls on the lock screen.

• Fixed playback speed not updating correctly.

• Resolved issue where played episodes couldn’t be replayed.

• Fixed playback not resuming correctly when listening in the car.

• Synced car playback position with the device.

• Fixed persistent car display refresh issue.

• Fixed volume control via car controls.

• Resolved issue with headphone controls after playing a transcript.

• Fixed disappearing metadata on the lock screen.

• Fixed bug where downloaded episodes stopped in airplane mode but showed as playing.

---

We would love to hear how you’re finding Fountain 1.2. Please submit your thoughts and feedback via the main menu in the app and we will take it on board as we continue to improve the app.

If you want to help test new features out before they get released, you can join Fountain Beta on Telegram. All iOS and Android users welcome.

@ d7955b22:025a3ba9

A plataforma 53a é uma das mais novas e emocionantes opções para quem busca uma experiência completa de entretenimento digital. Com uma ampla gama de jogos e funcionalidades voltadas para o prazer e a diversão dos jogadores, a 53a se destaca por sua interface intuitiva, seu foco na segurança e uma vasta gama de opções para todos os gostos. Se você ainda não conhece essa plataforma inovadora, continue lendo e descubra tudo o que ela tem a oferecer!

Introdução à Plataforma 53a A 53a é uma plataforma de entretenimento online que se destaca pelo seu compromisso em oferecer uma experiência única aos jogadores. Com um design moderno e acessível, a plataforma foi criada para atender a um público que busca algo mais do que simples joguinhos – ela oferece uma verdadeira imersão em um universo de possibilidades.

Ao acessar a 53a , os usuários são rapidamente apresentados a um painel de controle simplificado, onde podem facilmente navegar por diferentes categorias de jogos, conferir promoções e acessar uma série de recursos exclusivos. Além disso, a plataforma está disponível em diversos dispositivos, incluindo desktop, smartphones e tablets, permitindo que o jogador tenha acesso à diversão em qualquer lugar e a qualquer momento.

Jogos Empolgantes para Todos os Gostos A 53a não se limita a um único tipo de jogo. Em vez disso, oferece uma vasta gama de opções, com títulos que atendem a diferentes preferências e estilos de jogo. Desde jogos de habilidade, como jogos de mesa e jogos de cartas, até opções mais interativas e imersivas, como máquinas de diversão, a plataforma tem algo para todos os jogadores.

Jogos de Mesa e Cartas: Para os que apreciam uma experiência mais estratégica, a 53a oferece uma seleção diversificada de jogos de mesa, incluindo opções clássicas como o blackjack, pôquer e roleta. Cada jogo é projetado para proporcionar uma experiência desafiadora e envolvente, com gráficos impressionantes e uma jogabilidade fluida.

Máquinas de Diversão: Para quem busca uma experiência mais dinâmica e de fácil acesso, as máquinas de diversão são a escolha perfeita. Com uma vasta gama de temas e estilos, essas máquinas são ideais para momentos de descontração, com rodadas rápidas e prêmios atrativos. Cada jogo tem sua própria atmosfera única, com sons e animações que mantêm o jogador imerso por horas.

Jogos ao Vivo: Uma das grandes atrações da 53a são os jogos ao vivo, onde os jogadores podem interagir em tempo real com dealers e outros participantes. Esses jogos trazem a emoção de uma experiência presencial, mas com a conveniência de estar em casa ou onde preferir.

A Experiência do Jogador na 53a A experiência do jogador na plataforma 53a é pensada para ser fluida, segura e divertida. Com uma interface simples, os jogadores podem facilmente acessar seus jogos favoritos e navegar por outras funcionalidades da plataforma.

Interface Intuitiva: Desde o momento em que você entra na 53a, perceberá como a plataforma foi projetada com o usuário em mente. O layout claro e as opções bem definidas tornam a navegação fácil, mesmo para aqueles que não são tão familiarizados com plataformas digitais.

Segurança e Privacidade: A plataforma 53a adota as melhores práticas de segurança para garantir que todas as informações dos jogadores sejam protegidas. Desde transações financeiras até dados pessoais, a 53a utiliza tecnologias avançadas de criptografia para garantir que seus dados estejam sempre seguros.

Atendimento ao Cliente: A 53a se destaca também pelo seu excelente suporte ao cliente. Caso o jogador tenha alguma dúvida ou precise de ajuda, pode contar com uma equipe de atendimento pronta para oferecer assistência de forma rápida e eficaz. A plataforma também conta com uma seção de perguntas frequentes (FAQ) que ajuda a esclarecer as dúvidas mais comuns.

Conclusão A plataforma 53a se consolida como uma das principais opções de entretenimento online para quem busca diversão, segurança e uma experiência de usuário completa. Com uma grande variedade de jogos, suporte de alta qualidade e uma interface amigável, ela atende às necessidades de todos os tipos de jogadores, proporcionando momentos inesquecíveis. Se você está à procura de uma plataforma inovadora, segura e divertida, a 53a é a escolha certa para você!

@ d360efec:14907b5f

@ c1e9ab3a:9cb56b43

Introduction: The Power of Fiction and the Shaping of Collective Morality

Stories define the moral landscape of a civilization. From the earliest mythologies to the modern spectacle of global cinema, the tales a society tells its youth shape the parameters of acceptable behavior, the cost of transgression, and the meaning of justice, power, and redemption. Among the most globally influential narratives of the past half-century is the Star Wars saga, a sprawling science fiction mythology that has transcended genre to become a cultural religion for many. Central to this mythos is the arc of Anakin Skywalker, the fallen Jedi Knight who becomes Darth Vader. In Star Wars: Episode III – Revenge of the Sith, Anakin commits what is arguably the most morally abhorrent act depicted in mainstream popular cinema: the mass murder of children. And yet, by the end of the saga, he is redeemed.

This chapter introduces the uninitiated to the events surrounding this narrative turn and explores the deep structural and ethical concerns it raises. We argue that the cultural treatment of Darth Vader as an anti-hero, even a role model, reveals a deep perversion in the collective moral grammar of the modern West. In doing so, we consider the implications this mythology may have on young adults navigating identity, masculinity, and agency in a world increasingly shaped by spectacle and symbolic narrative.

Part I: The Scene and Its Context

In Revenge of the Sith (2005), the third episode of the Star Wars prequel trilogy, the protagonist Anakin Skywalker succumbs to fear, ambition, and manipulation. Convinced that the Jedi Council is plotting against the Republic and desperate to save his pregnant wife from a vision of death, Anakin pledges allegiance to Chancellor Palpatine, secretly the Sith Lord Darth Sidious. Upon doing so, he is given a new name—Darth Vader—and tasked with a critical mission: to eliminate all Jedi in the temple, including its youngest members.

In one of the most harrowing scenes in the film, Anakin enters the Jedi Temple. A group of young children, known as "younglings," emerge from hiding and plead for help. One steps forward, calling him "Master Skywalker," and asks what they are to do. Anakin responds by igniting his lightsaber. The screen cuts away, but the implication is unambiguous. Later, it is confirmed through dialogue and visual allusion that he slaughtered them all.

There is no ambiguity in the storytelling. The man who will become the galaxy’s most feared enforcer begins his descent by murdering defenseless children.

Part II: A New Kind of Evil in Youth-Oriented Media

For decades, cinema avoided certain taboos. Even films depicting war, genocide, or psychological horror rarely crossed the line into showing children as victims of deliberate violence by the protagonist. When children were harmed, it was by monstrous antagonists, supernatural forces, or offscreen implications. The killing of children was culturally reserved for historical atrocities and horror tales.

In Revenge of the Sith, this boundary was broken. While the film does not show the violence explicitly, the implication is so clear and so central to the character arc that its omission from visual depiction does not blunt the narrative weight. What makes this scene especially jarring is the tonal dissonance between the gravity of the act and the broader cultural treatment of Star Wars as a family-friendly saga. The juxtaposition of child-targeted marketing with a central plot involving child murder is not accidental—it reflects a deeper narrative and commercial structure.

This scene was not a deviation from the arc. It was the intended turning point.

Part III: Masculinity, Militarism, and the Appeal of the Anti-Hero

Darth Vader has long been idolized as a masculine icon. His towering presence, emotionless control, and mechanical voice exude power and discipline. Military institutions have quoted him. He is celebrated in memes, posters, and merchandise. Within the cultural imagination, he embodies dominance, command, and strategic ruthlessness.

For many young men, particularly those struggling with identity, agency, and perceived weakness, Vader becomes more than a character. He becomes an archetype: the man who reclaims power by embracing discipline, forsaking emotion, and exacting vengeance against those who betrayed him. The emotional pain that leads to his fall mirrors the experiences of isolation and perceived emasculation that many young men internalize in a fractured society.

The symbolism becomes dangerous. Anakin's descent into mass murder is portrayed not as the outcome of unchecked cruelty, but as a tragic mistake rooted in love and desperation. The implication is that under enough pressure, even the most horrific act can be framed as a step toward a noble end.

Part IV: Redemption as Narrative Alchemy

By the end of the original trilogy (Return of the Jedi, 1983), Darth Vader kills the Emperor to save his son Luke and dies shortly thereafter. Luke mourns him, honors him, and burns his body in reverence. In the final scene, Vader's ghost appears alongside Obi-Wan Kenobi and Yoda—the very men who once considered him the greatest betrayal of their order. He is welcomed back.

There is no reckoning. No mention of the younglings. No memorial to the dead. No consequence beyond his own internal torment.

This model of redemption is not uncommon in Western storytelling. In Christian doctrine, the concept of grace allows for any sin to be forgiven if the sinner repents sincerely. But in the context of secular mass culture, such redemption without justice becomes deeply troubling. The cultural message is clear: even the worst crimes can be erased if one makes a grand enough gesture at the end. It is the erasure of moral debt by narrative fiat.

The implication is not only that evil can be undone by good, but that power and legacy matter more than the victims. Vader is not just forgiven—he is exalted.

Part V: Real-World Reflections and Dangerous Scripts

In recent decades, the rise of mass violence in schools and public places has revealed a disturbing pattern: young men who feel alienated, betrayed, or powerless adopt mythic narratives of vengeance and transformation. They often see themselves as tragic figures forced into violence by a cruel world. Some explicitly reference pop culture, quoting films, invoking fictional characters, or modeling their identities after cinematic anti-heroes.

It would be reductive to claim Star Wars causes such events. But it is equally naive to believe that such narratives play no role in shaping the symbolic frameworks through which vulnerable individuals understand their lives. The story of Anakin Skywalker offers a dangerous script:

• You are betrayed.
• You suffer.
• You kill.
• You become powerful.
• You are redeemed.

When combined with militarized masculinity, institutional failure, and cultural nihilism, this script can validate the darkest impulses. It becomes a myth of sacrificial violence, with the perpetrator as misunderstood hero.

Part VI: Cultural Responsibility and Narrative Ethics

The problem is not that Star Wars tells a tragic story. Tragedy is essential to moral understanding. The problem is how the culture treats that story. Darth Vader is not treated as a warning, a cautionary tale, or a fallen angel. He is merchandised, celebrated, and decontextualized.

By separating his image from his actions, society rebrands him as a figure of cool dominance rather than ethical failure. The younglings are forgotten. The victims vanish. Only the redemption remains. The merchandise continues to sell.

Cultural institutions bear responsibility for how such narratives are presented and consumed. Filmmakers may intend nuance, but marketing departments, military institutions, and fan cultures often reduce that nuance to symbol and slogan.

Conclusion: Reckoning with the Stories We Tell

The story of Anakin Skywalker is not morally neutral. It is a tale of systemic failure, emotional collapse, and unchecked violence. When presented in full, it can serve as a powerful warning. But when reduced to aesthetic dominance and easy redemption, it becomes a tool of moral decay.

The glorification of Darth Vader as a cultural icon—divorced from the horrific acts that define his transformation—is not just misguided. It is dangerous. It trains a generation to believe that power erases guilt, that violence is a path to recognition, and that final acts of loyalty can overwrite the deliberate murder of the innocent.

To the uninitiated, Star Wars may seem like harmless fantasy. But its deepest myth—the redemption of the child-killer through familial love and posthumous honor—deserves scrutiny. Not because fiction causes violence, but because fiction defines the possibilities of how we understand evil, forgiveness, and what it means to be a hero.

We must ask: What kind of redemption erases the cries of murdered children? And what kind of culture finds peace in that forgetting?

@ 502ab02a:a2860397

สัปดาห์ที่ผ่านมา เราพักผ่อนย้อนไปเพื่อทำความเข้าใจต้นเหตุของซีรีส์นี้กันแล้วนะครับ ทีนี้เราจะมาสนทนากันต่อจากที่ค้างคาไว้กันครับ

ย้อนกลับไปเมื่อราวทศวรรษ 1970-1980 เป็นยุคที่โลกยังเชื่อว่า “ไขมัน” คือผู้ร้ายตัวจริงในวงการสุขภาพ ปิรามิดอาหารจาก USDA จึงถือกำเนิดขึ้น โดยมีฐานล่างกว้างใหญ่เต็มไปด้วยข้าว แป้ง ซีเรียล พาสต้า และขนมปัง เรียกรวมว่า “กลุ่มคาร์โบไฮเดรต” และถูกวางให้เป็นเสาหลักของอาหารประจำวัน ภายใต้แนวคิดว่าให้พลังงานสูง ไขมันต่ำ ดีต่อหัวใจ และเหมาะกับการเลี้ยงประชากรโลกที่เพิ่มขึ้นอย่างรวดเร็ว

แต่ความจริงที่เปิดเผยภายหลังคือ ปิรามิดอาหารนี้มิได้เกิดจากวิทยาศาสตร์บริสุทธิ์ หากแต่เกิดจากกระบวนการ “เปิดประมูลนโยบาย” โดยกลุ่มอุตสาหกรรมเกษตรรายใหญ่ ซึ่งต้องการระบายผลผลิตคาร์โบไฮเดรตจำนวนมหาศาลจากข้าวโพด ข้าวสาลี และถั่วเหลืองที่รัฐบาลอเมริกันอุดหนุนให้เพาะปลูกเกินความจำเป็น (ดูรายงาน PBS: The Food Pyramid) หน้าที่จัดสรรนี้จึงอยู่ภายใต้ USDA หรือ กระทรวงเกษตรสหรัฐอเมริกา

ขณะที่ผู้คนถูกสอนให้หลีกเลี่ยงไขมัน โปรตีนสัตว์ และหันมากินซีเรียลเป็นอาหารเช้า ผลิตภัณฑ์ไขมันต่ำแทบทุกชนิดกลับต้องเติมน้ำตาลและแป้งเพื่อให้มีรสชาติ นำไปสู่การระบาดของโรคอ้วน เบาหวาน ความดัน และ NCD ทั่วโลก ที่เราเพิ่งจะเข้าใจกันวันนี้ว่ามีรากมาจาก “ปิรามิดคาร์บ” นั่นเอง

คำถามคือ ทำไมการกำหนดอาหารของอเมริกา (ซึ่งแน่นอนว่าแพร่กระจายไปทั่วโลกภายใต้ข้อกำหนดเดียวกัน) จึงเกิดขึ้นจาก "กระทรวงเกษตรสหรัฐอเมริกา" ไม่ใช่ หน่วยงานทางวิทยาศาสตร์ หรือ การแพทย์

หรือเพราะ “อาหาร” ในอเมริกา ไม่ได้เริ่มจากคำว่า “สุขภาพ” แต่เริ่มจาก “เศรษฐกิจ”

ย้อนกลับไปช่วงต้นศตวรรษที่ 20 โดยเฉพาะหลังสงครามโลกครั้งที่สอง สหรัฐฯ ต้องการฟื้นฟูเศรษฐกิจและผลักดันภาคการเกษตรให้โตอย่างรวดเร็ว โดยเฉพาะสินค้าพืชเชิงอุตสาหกรรม เช่น ข้าวโพด ข้าวสาลี ถั่วเหลือง นม และเนื้อจากฟาร์มอุตสาหกรรม และปากท้องของเกษตรกรคือฐานเสียงสำคัญในทุกๆรัฐบาล ดังนั้น USDA ซึ่งเป็นหน่วยงานที่ตั้งขึ้นเพื่อดูแลเกษตรกร จึงรับบทผู้ออก “แนวทางโภชนาการ” โดยเน้นว่า

อาหารอะไรที่ เกษตรกรผลิตได้เยอะ ก็เอามาดันให้ประชาชนกินเยอะ อาหารอะไรที่ ราคาถูก ผลิตได้เร็ว ก็นำมาใส่ไว้ฐานล่างของพีระมิด ให้ประชาชนกินเยอะ อาหารอะไรที่ มีอุตสาหกรรมอยู่เบื้องหลัง ก็เปิดประมูลให้มีบทบาทมากในการล็อบบี้นโยบาย ให้ประชาชนกินเยอะ

พูดง่ายๆ ก็คือ นโยบายอาหารอเมริกา ไม่ได้ออกโดยนักวิทยาศาสตร์หรือนักโภชนาการที่ไม่มีผลประโยชน์ทับซ้อน แต่มาจาก “ข้าราชการสายเกษตร+กลุ่มทุน” ที่ต้องการให้ภาคการเกษตรมีกำไรอย่างต่อเนื่อง และอย่าลืมว่า อเมริกา = โลก

แล้วหน่วยงานด้านวิทยาศาสตร์หรือแพทย์ เช่น NIH (National Institutes of Health) หรือ CDC (Centers for Disease Control and Prevention) หล่ะ แน่นอนครับว่ามีข้อมูลอยุ่ว่าก็มีสิทธิ์เสนอแนะอยู่บ้างแต่ทั้งหมดนี้ ไม่มีอำนาจออกนโยบายหลักที่ใช้จริงกับประชาชน ส่วนใหญ่แค่ให้ข้อมูลวิชาการ ซึ่งมักจะถูกลดทอนหรือละเลยเมื่อนโยบายจริงถูกเขียนขึ้นโดย USDA ในที่สุด

เมื่อเสียงของการตั้งคำถามเริ่มดังกว่าเสียงโฆษณา ขบวนการ “Low Carb” ก็เริ่มตั้งหลักและขยายวงกว้างอย่างเงียบๆ งานวิจัยใหม่ๆ เริ่มบ่งชี้ว่า “น้ำตาลและแป้ง” โดยเฉพาะแป้งแปรรูป คือภัยเงียบที่ส่งผลต่อการอักเสบเรื้อรัง ภาวะดื้ออินซูลิน และเมตาบอลิกซินโดรม จนกระทั่งช่วงต้นทศวรรษ 2010 เป็นต้นมา อาหารแนว “ลดคาร์บ เพิ่มไขมันดี เพิ่มโปรตีน” ก็กลายเป็นกระแสหลักขึ้นมา

ตอนนั้นหลายคนคิดว่า “พวกเราชนะแล้ว” โลกกลับมาฟังเสียงสุขภาพที่แท้จริง โปรตีนกลายเป็นคำตอบใหม่แห่งยุค

แต่มึงเอ๊ยยยยยย... เกมอาจไม่ได้จบตรงนั้น

เพราะในวันที่ประชาชนเริ่มหลีกหนีคาร์บ กลุ่มทุนอาหารข้ามชาติที่เคยวางรากอยู่ในอุตสาหกรรมแป้ง ได้ค่อยๆ แปรทิศ ย้ายการลงทุนไปสู่ “โปรตีนทางเลือก” รอไว้นานแล้วโดยที่เราไม่รู้ตัว ทั้งอาหารพืชแปรรูปอย่าง texture ถั่วเหลือง (TVP), โปรตีนจุลินทรีย์, เนื้อปลูกจากห้องแลบ ไปจนถึง “ไข่” และ “นม” ที่ไม่ได้มาจากสัตว์ โปรตีนสังเคราะห์ที่ผลิตโดยระบบชีวภาพวิศวกรรม (synthetic biology) ซึ่งได้รับเงินทุนจากบริษัทยักษ์ใหญ่อย่างต่อเนื่องตลอดสิบปีที่ผ่านมา

พอถึงวันโปรตีนกลายเป็นเทรนด์ เขาก็เข้ามาเป็นเจ้าของเทรนด์เป็นที่เรียบร้อยแล้ว พร้อมทุกอย่างแล้ว คำถามคือ ใครกันแน่ที่เป็น Trend Setter

โปรตีนจึงไม่ใช่เพียง “สารอาหาร” อีกต่อไป แต่มันคือ “สินค้าอนาคต” ที่สามารถควบคุมแหล่งผลิต แหล่งพันธุ์ เทคโนโลยีการแปรรูป และการกระจายผ่านแพลตฟอร์มค้าปลีกทั่วโลก และถ้าคุณสังเกต จะเห็นว่าไม่มีใครพูดถึง “คาร์บทางเลือก” หรือ "คาร์บเข้มข้น" หรือ "คาร์บที่ไม่ต้องใช้พืช" แม้แต่นิด ทั้งที่ในทางหลักการก็สามารถคิดค้นได้ไม่ต่างกัน แปลว่า พวกเขาไม่ได้แค่อยาก “เลิกขายคาร์บ” แต่กำลัง “เปลี่ยนสินค้าหลักใหม่” ให้ไปอยู่ในกลุ่มที่พวกเขาควบคุมได้ทั้งหมด แค่เอาคำว่า "โปรตีน" ขึ้นมาเป็นฉากหน้าไว้ก่อน

เริ่มเห็นภาพไหมครับ จากคาร์บที่เคยถูกบิดเบือน กลายมาเป็นโปรตีนที่ถูกเสนอให้เรายินดีรับอย่างไม่ตั้งคำถาม

“โปรตีนอนาคต” ดูเหมือนจะเป็นทางเลือก แต่จริงๆ แล้วอาจเป็นกับดักหรือเปล่า

วันนี้ที่หลายคนเฝ้ามองชัยชนะของผู้คนในการล้ม “ปิรามิดคาร์บ” แต่ไม่ทันเห็นว่ากำลังถูกลากเข้าสู่ “หอคอยโปรตีนจำลอง” ที่พวกเขาสร้างขึ้นใหม่ ด้วยบรรจุภัณฑ์สวยหรู คำว่า "รักษ์โลก" "ปลอดภัย" และ "ยั่งยืน" แต่แท้จริงคือห่วงโซ่ที่มัดให้เราเป็นเพียง “ผู้บริโภค” ที่ไม่มีทางรู้ว่าอาหารของเรามาจากธรรมชาติหรือห้องแลบอีกต่อไป เรากลายเป็นหนูที่ย้ายจากกล่องวงกตหนึ่ง มายังอีกกล่องวงกตหนึ่งหรือเปล่า เป็นคำถามที่ยังต้องตอบต่อไป

เฮียไม่ได้มาเพื่อหวาดระแวงนะครับ เพราะในเกมอำนาจอาหาร ไม่มีใครยอมเสียพื้นที่ พวกเขาแค่เปลี่ยนกลยุทธ์ เพื่อครองความเชื่อมั่นใหม่ ในชื่อ “โปรตีน” #pirateketo #กูต้องรู้มั๊ย #ม้วนหางสิลูก #siamstr

@ 7ef5f1b1:0e0fcd27

A monthly newsletter by The 256 Foundation

May 2025

Introduction:

Welcome to the fifth newsletter produced by The 256 Foundation! April was a jam-packed month for the Foundation with events ranging from launching three grant projects to the first official Ember One release. The 256 Foundation has been laser focused on our mission to dismantle the proprietary mining empire, signing off on a productive month with the one-finger salute to the incumbent mining cartel.

[IMG-001] Hilarious meme from @CincoDoggos

Dive in to catch up on the latest news, mining industry developments, progress updates on grant projects, Actionable Advice on helping test Hydra Pool, and the current state of the Bitcoin network.

Definitions:

DOJ = Department of Justice

SDNY = Southern District of New York

BTC = Bitcoin

SD = Secure Digital

Th/s = Terahash per second

OSMU = Open Source Miners United

tx = transaction

PSBT = Partially Signed Bitcoin Transaction

FIFO = First In First Out

PPLNS = Pay Per Last N Shares

GB = Gigabyte

RAM = Random Access Memory

ASIC = Application Specific Integrated Circuit

Eh/s = Exahash per second

Ph/s = Petahash per second

News:

April 7: the first of a few notable news items that relate to the Samourai Wallet case, the US Deputy Attorney General, Todd Blanche, issued a memorandum titled “Ending Regulation By Prosecution”. The memo makes the DOJ’s position on the matter crystal clear, stating; “Specifically, the Department will no longer target virtual currency exchanges, mixing and tumbling services, and offline wallets for the acts of their end users or unwitting violations of regulations…”. However, despite the clarity from the DOJ, the SDNY (sometimes referred to as the “Sovereign District” for it’s history of acting independently of the DOJ) has yet to budge on dropping the charges against the Samourai Wallet developers. Many are baffled at the SDNY’s continued defiance of the Trump Administration’s directives, especially in light of the recent suspensions and resignations that swept through the SDNY office in the wake of several attorneys refusing to comply with the DOJ’s directive to drop the charges against New York City Mayor, Eric Adams. There is speculation that the missing piece was Trump’s pick to take the helm at the SDNY, Jay Clayton, who was yet to receive his Senate confirmation and didn’t officially start in his new role until April 22. In light of the Blanche Memo, on April 29, the prosecution and defense jointly filed a letter requesting additional time for the prosecution to determine it’s position on the matter and decide if they are going to do the right thing, comply with the DOJ, and drop the charges. Catch up on what’s at stake in this case with an appearance by Diverter on the Unbounded Podcast from April 24, the one-year anniversary of the Samourai Wallet developer’s arrest. This is the most important case facing Bitcoiners as the precedence set in this matter will have ripple effects that touch all areas of the ecosystem. The logic used by SDNY prosecutors argues that non-custodial wallet developers transfer money in the same way a frying pan transfers heat but does not “control” the heat. Essentially saying that facilitating the transfer of funds on behalf of the public by any means constitutes money transmission and thus requires a money transmitter license. All non-custodial wallets (software or hardware), node operators, and even miners would fall neatly into these dangerously generalized and vague definitions. If the SDNY wins this case, all Bitcoiners lose. Make a contribution to the defense fund here.

April 11: solo miner with ~230Th/s solves Block #891952 on Solo CK Pool, bagging 3.11 BTC in the process. This will never not be exciting to see a regular person with a modest amount of hashrate risk it all and reap all the mining reward. The more solo miners there are out there, the more often this should occur.

April 15: B10C publishes new article on mining centralization. The article analyzes the hashrate share of the currently five biggest pools and presents a Mining Centralization Index. The results demonstrate that only six pools are mining more than 95% of the blocks on the Bitcoin Network. The article goes on to explain that during the period between 2019 and 2022, the top two pools had ~35% of the network hashrate and the top six pools had ~75%. By December 2023 those numbers grew to the top two pools having 55% of the network hashrate and the top six having ~90%. Currently, the top six pools are mining ~95% of the blocks.

[IMG-002] Mining Centralization Index by @0xB10C

B10C concludes the article with a solution that is worth highlighting: “More individuals home-mining with small miners help too, however, the home-mining hashrate is currently still negligible compared to the industrial hashrate.”

April 15: As if miner centralization and proprietary hardware weren’t reason enough to focus on open-source mining solutions, leave it to Bitmain to release an S21+ firmware update that blocks connections to OCEAN and Braiins pools. This is the latest known sketchy development from Bitmain following years of shady behavior like Antbleed where miners would phone home, Covert ASIC Boost where miners could use a cryptographic trick to increase efficiency, the infamous Fork Wars, mining empty blocks, and removing the SD card slots. For a mining business to build it’s entire operation on a fragile foundation like the closed and proprietary Bitmain hardware is asking for trouble. Bitcoin miners need to remain flexible and agile and they need to be able to adapt to changes instantly – the sort of freedoms that only open-source Bitcoin mining solutions are bringing to the table.

Free & Open Mining Industry Developments:

The development will not stop until Bitcoin mining is free and open… and then it will get even better. Innovators did not disappoint in April, here are nine note-worthy events:

April 5: 256 Foundation officially launches three more grant projects. These will be covered in detail in the Grant Project Updates section but April 5 was a symbolic day to mark the official start because of the 6102 anniversary. A reminder of the asymmetric advantage freedom tech like Bitcoin empowers individuals with to protect their rights and freedoms, with open-source development being central to those ends.

April 5: Low profile ICE Tower+ for the Bitaxe Gamma 601 introduced by @Pleb_Style featuring four heat pipes, 2 copper shims, and a 60mm Noctua fan resulting in up to 2Th/s. European customers can pick up the complete upgrade kit from the Pleb Style online store for $93.00.

IMG-003] Pleb Style ICE Tower+ upgrade kit

April 8: Solo Satoshi spells out issues with Bitaxe knockoffs, like Lucky Miner, in a detailed article titled The Hidden Cost of Bitaxe Clones. This concept can be confusing for some people initially, Bitaxe is open-source, right? So anyone can do whatever they want… right? Based on the specific open-source license of the Bitaxe hardware, CERN-OHL-S, and the firmware, GPLv3, derivative works are supposed to make the source available. Respecting the license creates a feed back loop where those who benefit from the open-source work of those who came before them contribute back their own modifications and source files to the open-source community so that others can benefit from the new developments. Unfortunately, when the license is disrespected what ends up happening is that manufacturers make undocumented changes to the components in the hardware and firmware which yields unexpected results creating a number of issues like the Bitaxe overheating, not connecting to WiFi, or flat out failure. This issue gets further compounded when the people who purchased the knockoffs go to a community support forum, like OSMU, for help. There, a number of people rack their brains and spend their valuable time trying to replicate the issues only to find out that they cannot replicate the issues since the person who purchased the knockoff has something different than the known Bitaxe model and the distributor who sold the knockoff did not document those changes. The open-source licenses are maintaining the end-users’ freedom to do what they want but if the license is disrespected then that freedom vanishes along with details about whatever was changed. There is a list maintained on the Bitaxe website of legitimate distributors who uphold the open-source licenses, if you want to buy a Bitaxe, use this list to ensure the open-source community is being supported instead of leeched off of.

April 8: The Mempool Open Source Project v3.2.0 launches with a number of highlights including a new UTXO bubble chart, address poisoning detection, and a tx/PSBT preview feature. The GitHub repo can be found here if you want to self-host an instance from your own node or you can access the website here. The Mempool Open Source Project is a great blockchain explorer with a rich feature set and helpful visualization tools.

[IMG-004] Address poisoning example

April 8: @k1ix publishes bitaxe-raw, a firmware for the ESP32S3 found on Bitaxes which enables the user to send and receive raw bytes over USB serial to and from the Bitaxe. This is a helpful tool for research and development and a tool that is being leveraged at The 256 Foundation for helping with the Mujina miner firmware development. The bitaxe-raw GitHub repo can be found here.

April 14: Rev.Hodl compiles many of his homestead-meets-mining adaptations including how he cooks meat sous-vide style, heats his tap water to 150°F, runs a hashing space heater, and how he upgraded his clothes dryer to use Bitcoin miners. If you are interested in seeing some creative and resourceful home mining integrations, look no further. The fact that Rev.Hodl was able to do all this with closed-source proprietary Bitcoin mining hardware makes a very bullish case for the innovations coming down the pike once the hardware and firmware are open-source and people can gain full control over their mining appliances.

April 21: Hashpool explained on The Home Mining Podcast, an innovative Bitcoin mining pool development that trades mining shares for ecash tokens. The pool issues an “ehash” token for every submitted share, the pool uses ecash epochs to approximate the age of those shares in a FIFO order as they accrue value, a rotating key set is used to eventually expire them, and finally the pool publishes verification proofs for each epoch and each solved block. The ehash is provably not inflatable and payouts are similar to the PPLNS model. In addition to the maturity window where ehash tokens are accruing value, there is also a redemption window where the ehash tokens can be traded in to the mint for bitcoin. There is also a bitcoin++ presentation from earlier this year where @vnprc explains the architecture.

April 26: Boerst adds a new page on stratum.work for block template details, you can click on any mining pool and see the extended details and visualization of their current block template. Updates happen in real-time. The page displays all available template data including the OP_RETURN field and if the pool is merge mining, like with RSK, then that will be displayed too. Stratum dot work is a great project that offers helpful mining insights, be sure to book mark it if you haven’t already.

[IMG-005] New stratum.work live template page

April 27: Public Pool patches Nerdminer exploit that made it possible to create the impression that a user’s Nerdminer was hashing many times more than it actually was. This exploit was used by scammers trying to convince people that they had a special firmware for the Nerminer that would make it hash much better. In actuality, Public Pool just wasn’t checking to see if submitted shares were duplicates or not. The scammers would just tweak the Nerdminer firmware so that valid shares were getting submitted five times, creating the impression that the miner was hashing at five times the actual hashrate. Thankfully this has been uncovered by the open-source community and Public Pool quickly addressed it on their end.

Grant Project Updates:

Three grant projects were launched on April 5, Mujina Mining Firmware, Hydra Pool, and Libre Board. Ember One was the first fully funded grant and launched in November 2024 for a six month duration.

Ember One:

@skot9000 is the lead engineer on the Ember One and April 30 marked the conclusion of the first grant cycle after six months of development culminating in a standardized hashboard featuring a ~100W power consumption, 12-24v input voltage range, USB-C data communication, on-board temperature sensors, and a 125mm x 125mm formfactor. There are several Ember One versions on the road map, each with a different kind of ASIC chip but staying true to the standardized features listed above. The first Ember One, the 00 version, was built with the Bitmain BM1362 ASIC chips. The first official release of the Ember One, v3, is available here. v4 is already being worked on and will incorporate a few circuit safety mechanisms that are pretty exciting, like protecting the ASIC chips in the event of a power supply failure. The firmware for the USB adaptor is available here. Initial testing firmware for the Ember One 00 can be found here and full firmware support will be coming soon with Mujina. The Ember One does not have an on-board controller so a separate, USB connected, control board is required. Control board support is coming soon with the Libre Board. There is an in-depth schematic review that was recorded with Skot and Ryan, the lead developer for Mujina, you can see that video here. Timing for starting the second Ember One cycle is to be determined but the next version of the Ember One is planned to have the Intel BZM2 ASICs. Learn more at emberone.org

Mujina Mining Firmware:

@ryankuester is the lead developer for the Mujina firmware project and since the project launched on April 5, he has been working diligently to build this firmware from scratch in Rust. By using the bitaxe-raw firmware mentioned above, over the last month Ryan has been able to use a Bitaxe to simulate an Ember One so that he can start building the necessary interfaces to communicate with the range of sensors, ASICs, work handling, and API requests that will be necessary. For example, using a logic analyzer, this is what the first signs of life look like when communicating with an ASIC chip, the orange trace is a message being sent to the ASIC and the red trace below it is the ASIC responding [IMG-006]. The next step is to see if work can be sent to the ASIC and results returned. The GitHub repo for Mujina is currently set to private until a solid foundation has been built. Learn more at mujina.org

[IMG-006] First signs of life from an ASIC

Libre Board:

@Schnitzel is the lead engineer for the Libre Board project and over the last month has been modifying the Raspberry Pi Compute Module I/O Board open-source design to fit the requirements for this project. For example, removing one of the two HDMI ports, adding the 40-pin header, and adapting the voltage regulator circuit so that it can accept the same 12-24vdc range as the Ember One hashboards. The GitHub repo can be found here, although there isn’t much to look at yet as the designs are still in the works. If you have feature requests, creating an issue in the GitHub repo would be a good place to start. Learn more at libreboard.org

Hydra Pool:

@jungly is the lead developer for Hydra Pool and over the last month he has developed a working early version of Hydra Pool specifically for the upcoming Telehash #2. Forked from CK Pool, this early version has been modified so that the payout goes to the 256 Foundation bitcoin address automatically. This way, users who are supporting the funderaiser with their hashrate do not need to copy/paste in the bitcoin address, they can just use any vanity username they want. Jungly was also able to get a great looking statistics dashboard forked from CKstats and modify it so that the data is populated from the Hydra Pool server instead of website crawling. After the Telehash, the next steps will be setting up deployment scripts for running Hydra Pool on a cloud server, support for storing shares in a database, and adding PPLNS support. The 256 Foundation is only running a publicly accessible server for the Telehash and the long term goals for Hydra Pool are that the users host their own instance. The 256 Foundation has no plans on becoming a mining pool operator. The following Actionable Advice column shows you how you can help test Hydra Pool. The GitHub repo for Hydra Pool can be found here. Learn more at hydrapool.org

Actionable Advice:

The 256 Foundation is looking for testers to help try out Hydra Pool. The current instance is on a hosted bare metal server in Florida and features 64 cores and 128 GB of RAM. One tester in Europe shared that they were only experiencing ~70ms of latency which is good. If you want to help test Hydra Pool out and give any feedback, you can follow the directions below and join The 256 Foundation public forum on Telegram here.

The first step is to configure your miner so that it is pointed to the Hydra Pool server. This can look different depending on your specific miner but generally speaking, from the settings page you can add the following URL:

stratum+tcp://stratum.hydrapool.org:3333

On some miners, you don’t need the “stratum+tcp://” part or the port, “:3333”, in the URL dialog box and there may be separate dialog boxes for the port.

Use any vanity username you want, no need to add a BTC address. The test iteration of Hydra Pool is configured to payout to the 256 Foundation BTC address.

If your miner has a password field, you can just put “x” or “1234”, it doesn’t matter and this field is ignored.

Then save your changes and restart your miner. Here are two examples of what this can look like using a Futurebit Apollo and a Bitaxe:

[IMG-007] Apollo configured to Hydra Pool

[IMG-008] Bitaxe Configured to Hydra Pool

Once you get started, be sure to check stats.hydrapool.org to monitor the solo pool statistics.

[IMG-009] Ember One hashing to Hydra Pool

At the last Telehash there were over 350 entities pointing as much as 1.12Eh/s at the fundraiser at the peak. At the time the block was found there was closer to 800 Ph/s of hashrate. At this next Telehash, The 256 Foundation is looking to beat the previous records across the board. You can find all the Telehash details on the Meetup page here.

State of the Network:

Hashrate on the 14-day MA according to mempool.space increased from ~826 Eh/s to a peak of ~907 Eh/s on April 16 before cooling off and finishing the month at ~841 Eh/s, marking ~1.8% growth for the month.

[IMG-010] 2025 hashrate/difficulty chart from mempool.space

Difficulty was 113.76T at it’s lowest in April and 123.23T at it’s highest, which is a 8.3% increase for the month. But difficulty dropped with Epoch #444 just after the end of the month on May 3 bringing a -3.3% downward adjustment. All together for 2025 up to Epoch #444, difficulty has gone up ~8.5%.

According to the Hashrate Index, ASIC prices have flat-lined over the last month. The more efficient miners like the <19 J/Th models are fetching $17.29 per terahash, models between 19J/Th – 25J/Th are selling for $11.05 per terahash, and models >25J/Th are selling for $3.20 per terahash. You can expect to pay roughly $4,000 for a new-gen miner with 230+ Th/s.

[IMG-011] Miner Prices from Luxor’s Hashrate Index

Hashvalue over the month of April dropped from ~56,000 sats/Ph per day to ~52,000 sats/Ph per day, according to the new and improved Braiins Insights dashboard [IMG-012]. Hashprice started out at $46.00/Ph per day at the beginning of April and climbed to $49.00/Ph per day by the end of the month.

[IMG-012] Hashprice/Hashvalue from Braiins Insights

The next halving will occur at block height 1,050,000 which should be in roughly 1,063 days or in other words ~154,650 blocks from time of publishing this newsletter.

Conclusion:

Thank you for reading the fifth 256 Foundation newsletter. Keep an eye out for more newsletters on a monthly basis in your email inbox by subscribing at 256foundation.org. Or you can download .pdf versions of the newsletters from there as well. You can also find these newsletters published in article form on Nostr.

If you haven’t done so already, be sure to RSVP for the Texas Energy & Mining Summit (“TEMS”) in Austin, Texas on May 6 & 7 for two days of the highest Bitcoin mining and energy signal in the industry, set in the intimate Bitcoin Commons, so you can meet and mingle with the best and brightest movers and shakers in the space.

[IMG-013] TEMS 2025 flyer

While you’re at it, extend your stay and spend Cinco De Mayo with The 256 Foundation at our second fundraiser, Telehash #2. Everything is bigger in Texas, so set your expectations high for this one. All of the lead developers from the grant projects will be present to talk first-hand about how to dismantle the proprietary mining empire.

If you are interested in helping The 256 Foundation test Hydra Pool, then hopefully you found all the information you need to configure your miner in this issue.

[IMG-014] FREE SAMOURAI

If you want to continue seeing developers build free and open solutions be sure to support the Samourai Wallet developers by making a tax-deductible contribution to their legal defense fund here. The first step in ensuring a future of free and open Bitcoin development starts with freeing these developers.

Live Free or Die,

-econoalchemist

@ 872982aa:8fb54cfe

{.user-img}

@ 51faaa77:2c26615b

There has been a lot of debate about a recent discussion on the mailing list and a pull request on the Bitcoin Core repository. The main two points are about whether a mempool policy regarding OP_RETURN outputs should be changed, and whether there should be a configuration option for node operators to set their own limit. There has been some controversy about the background and context of these topics and people are looking for more information. Please ask short (preferably one sentence) questions as top comments in this topic. @Murch, and maybe others, will try to answer them in a couple sentences. @Murch and myself have collected a few questions that we have seen being asked to start us off, but please add more as you see fit.

originally posted at https://stacker.news/items/971277

@ 52b4a076:e7fad8bd

Introduction

Me and Fishcake have been working on infrastructure for Noswhere and Nostr.build. Part of this involves processing a large amount of Nostr events for features such as search, analytics, and feeds.

I have been recently developing nosdex v3, a newer version of the Noswhere scraper that is designed for maximum performance and fault tolerance using FoundationDB (FDB).

Fishcake has been working on a processing system for Nostr events to use with NB, based off of Cloudflare (CF) Pipelines, which is a relatively new beta product. This evening, we put it all to the test.

First preparations

We set up a new CF Pipelines endpoint, and I implemented a basic importer that took data from the nosdex database. This was quite slow, as it did HTTP requests synchronously, but worked as a good smoke test.

Asynchronous indexing

I implemented a high-contention queue system designed for highly parallel indexing operations, built using FDB, that supports: - Fully customizable batch sizes - Per-index queues - Hundreds of parallel consumers - Automatic retry logic using lease expiration

When the scraper first gets an event, it will process it and eventually write it to the blob store and FDB. Each new event is appended to the event log.

On the indexing side, a Queuer will read the event log, and batch events (usually 2K-5K events) into one work job. This work job contains: - A range in the log to index - Which target this job is intended for - The size of the job and some other metadata

Each job has an associated leasing state, which is used to handle retries and prioritization, and ensure no duplication of work.

Several Workers monitor the index queue (up to 128) and wait for new jobs that are available to lease.

Once a suitable job is found, the worker acquires a lease on the job and reads the relevant events from FDB and the blob store.

Depending on the indexing type, the job will be processed in one of a number of ways, and then marked as completed or returned for retries.

In this case, the event is also forwarded to CF Pipelines.

Trying it out

The first attempt did not go well. I found a bug in the high-contention indexer that led to frequent transaction conflicts. This was easily solved by correcting an incorrectly set parameter.

We also found there were other issues in the indexer, such as an insufficient amount of threads, and a suspicious decrease in the speed of the Queuer during processing of queued jobs.

Along with fixing these issues, I also implemented other optimizations, such as deprioritizing Worker DB accesses, and increasing the batch size.

To fix the degraded Queuer performance, I ran the backfill job by itself, and then started indexing after it had completed.

Bottlenecks, bottlenecks everywhere

After implementing these fixes, there was an interesting problem: The DB couldn't go over 80K reads per second. I had encountered this limit during load testing for the scraper and other FDB benchmarks.

As I suspected, this was a client thread limitation, as one thread seemed to be using high amounts of CPU. To overcome this, I created a new client instance for each Worker.

After investigating, I discovered that the Go FoundationDB client cached the database connection. This meant all attempts to create separate DB connections ended up being useless.

Using OpenWithConnectionString partially resolved this issue. (This also had benefits for service-discovery based connection configuration.)

To be able to fully support multi-threading, I needed to enabled the FDB multi-client feature. Enabling it also allowed easier upgrades across DB versions, as FDB clients are incompatible across versions:

FDB_NETWORK_OPTION_EXTERNAL_CLIENT_LIBRARY="/lib/libfdb_c.so" FDB_NETWORK_OPTION_CLIENT_THREADS_PER_VERSION="16"

Breaking the 100K/s reads barrier

After implementing support for the multi-threaded client, we were able to get over 100K reads per second.

You may notice after the restart (gap) the performance dropped. This was caused by several bugs: 1. When creating the CF Pipelines endpoint, we did not specify a region. The automatically selected region was far away from the server. 2. The amount of shards were not sufficient, so we increased them. 3. The client overloaded a few HTTP/2 connections with too many requests.

I implemented a feature to assign each Worker its own HTTP client, fixing the 3rd issue. We also moved the entire storage region to West Europe to be closer to the servers.

After these changes, we were able to easily push over 200K reads/s, mostly limited by missing optimizations:

It's shards all the way down

While testing, we also noticed another issue: At certain times, a pipeline would get overloaded, stalling requests for seconds at a time. This prevented all forward progress on the Workers.

We solved this by having multiple pipelines: A primary pipeline meant to be for standard load, with moderate batching duration and less shards, and high-throughput pipelines with more shards.

Each Worker is assigned a pipeline on startup, and if one pipeline stalls, other workers can continue making progress and saturate the DB.

The stress test

After making sure everything was ready for the import, we cleared all data, and started the import.

The entire import lasted 20 minutes between 01:44 UTC and 02:04 UTC, reaching a peak of: - 0.25M requests per second - 0.6M keys read per second - 140MB/s reads from DB - 2Gbps of network throughput

FoundationDB ran smoothly during this test, with: - Read times under 2ms - Zero conflicting transactions - No overloaded servers

CF Pipelines held up well, delivering batches to R2 without any issues, while reaching its maximum possible throughput.

Finishing notes

Me and Fishcake have been building infrastructure around scaling Nostr, from media, to relays, to content indexing. We consistently work on improving scalability, resiliency and stability, even outside these posts.

Many things, including what you see here, are already a part of Nostr.build, Noswhere and NFDB, and many other changes are being implemented every day.

If you like what you are seeing, and want to integrate it, get in touch. :)

If you want to support our work, you can zap this post, or register for nostr.land and nostr.build today.

@ d360efec:14907b5f

สวัสดีค่ะเพื่อนๆ นักเทรดที่น่ารักทุกคน! 💕 Lina Engword กลับมาพร้อมกับการวิเคราะห์ BTCUSDT.P แบบเจาะลึกเพื่อเตรียมพร้อมสำหรับเทรดวันนี้ค่ะ! 🚀

วันนี้ 12 พฤษภาคม 2568 เวลา 08.15น. ราคา BTCUSDT.P อยู่ที่ 104,642.8 USDT ค่ะ โดยมี Previous Weekly High (PWH) อยู่ที่ 104,967.8 Previous Weekly Low (PWL) ที่ 93,338 ค่ะ

✨ ภาพรวมตลาดวันนี้ ✨

จากการวิเคราะห์ด้วยเครื่องมือคู่ใจของเรา ทั้ง SMC/ICT (Demand/Supply Zone, Order Block, Liquidity), EMA 50/200, Trend Strength, Money Flow, Chart/Price Pattern, Premium/Discount Zone, Trend line, Fibonacci, Elliott Wave และ Dow Theory ใน Timeframe ตั้งแต่ 15m ไปจนถึง Week! 📊 เราพบว่าภาพใหญ่ของ BTCUSDT.P ยังคงอยู่ในแนวโน้มขาขึ้นที่แข็งแกร่งมากๆ ค่ะ 👍 โดยเฉพาะใน Timeframe Day และ Week ที่สัญญาณทุกอย่างสนับสนุนทิศทางขาขึ้นอย่างชัดเจน Money Flow ยังไหลเข้าอย่างต่อเนื่อง และเราเห็นโครงสร้างตลาดแบบ Dow Theory ที่ยก High ยก Low ขึ้นไปเรื่อยๆ ค่ะ

อย่างไรก็ตาม... ใน Timeframe สั้นๆ อย่าง 15m และ 1H เริ่มเห็นสัญญาณของการชะลอตัวและการพักฐานบ้างแล้วค่ะ 📉 อาจมีการสร้าง Buyside และ Sellside Liquidity รอให้ราคาไปกวาดก่อนที่จะเลือกทางใดทางหนึ่ง ซึ่งเป็นเรื่องปกติของการเดินทางของ Smart Money ค่ะ

⚡ เปรียบเทียบแนวโน้มแต่ละ Timeframe ⚡

🪙 แนวโน้มตรงกัน Timeframe 4H, Day, Week ส่วนใหญ่ชี้ไปทาง "ขาขึ้น" ค่ะ ทุกเครื่องมือสนับสนุนแนวโน้มนี้อย่างแข็งแกร่ง 💪 เป้าหมายต่อไปคือการไปทดสอบ PWH และ High เดิม เพื่อสร้าง All-Time High ใหม่ค่ะ! 🪙 แนวโน้มต่างกัน Timeframe 15m, 1H ยังค่อนข้าง "Sideways" หรือ "Sideways Down เล็กน้อย" ค่ะ มีการบีบตัวของราคาและอาจมีการพักฐานสั้นๆ ซึ่งเป็นโอกาสในการหาจังหวะเข้า Long ที่ราคาดีขึ้นค่ะ

💡 วิธีคิดแบบ Market Slayer 💡

เมื่อแนวโน้มใหญ่เป็นขาขึ้นที่แข็งแกร่ง เราจะเน้นหาจังหวะเข้า Long เป็นหลักค่ะ การย่อตัวลงมาในระยะสั้นคือโอกาสของเราในการเก็บของ! 🛍️ เราจะใช้หลักการ SMC/ICT หาโซน Demand หรือ Order Block ที่ Smart Money อาจจะเข้ามาดันราคาขึ้น และรอสัญญาณ Price Action ยืนยันการกลับตัวค่ะ

สรุปแนวโน้มวันนี้:

🪙 ระยะสั้น: Sideways to Sideways Down (โอกาส 55%) ↔️↘️ 🪙 ระยะกลาง: ขาขึ้น (โอกาส 70%) ↗️ 🪙 ระยะยาว: ขาขึ้น (โอกาส 85%) 🚀 🪙 วันนี้: มีโอกาสย่อตัวเล็กน้อยก่อนจะมีแรงซื้อกลับเข้ามาเพื่อไปทดสอบ PWH (โอกาส Sideways Down เล็กน้อย สลับกับ Sideways Up: 60%) 🎢

🗓️ Daily Trade Setup ประจำวันนี้ 🗓️

นี่คือตัวอย่าง Setup ที่ Lina เตรียมไว้ให้พิจารณาค่ะ (เน้นย้ำว่าเป็นเพียงแนวทาง ไม่ใช่คำแนะนำลงทุนนะคะ)

1️⃣ ตัวอย่างที่ 1: รอรับที่โซน Demand (ปลอดภัย, รอยืนยัน)

🪙 Enter: รอราคาย่อตัวลงมาในโซน Demand Zone หรือ Bullish Order Block ที่น่าสนใจใน TF 1H/4H (ดูจากกราฟประกอบนะคะ) และเกิดสัญญาณ Bullish Price Action ที่ชัดเจน เช่น แท่งเทียนกลืนกิน (Engulfing) หรือ Hammer 🪙 TP: บริเวณ PWH 104,967.8 หรือ Buyside Liquidity ถัดไป 🎯 🪙 SL: ใต้ Low ที่เกิดก่อนสัญญาณกลับตัวเล็กน้อย หรือใต้ Demand Zone ที่เข้า 🛡️ 🪙 RRR: ประมาณ 1:2.5 ขึ้นไป ✨ 🪙 อธิบาย: Setup นี้เราจะใจเย็นๆ รอให้ราคาลงมาในโซนที่มีโอกาสเจอแรงซื้อเยอะๆ ตามหลัก SMC/ICT แล้วค่อยเข้า เพื่อให้ได้ราคาที่ดีและความเสี่ยงต่ำค่ะ ต้องรอสัญญาณ Price Action ยืนยันก่อนนะคะ ✍️

2️⃣ ตัวอย่างที่ 2: Follow Breakout (สายบู๊, รับความเสี่ยงได้)

🪙 Enter: เข้า Long ทันทีเมื่อราคาสามารถ Breakout เหนือ High ล่าสุดใน TF 15m หรือ 1H พร้อม Volume ที่เพิ่มขึ้นอย่างมีนัยสำคัญ 🔥 🪙 TP: บริเวณ PWH 104,967.8 หรือ Buyside Liquidity ถัดไป 🚀 🪙 SL: ใต้ High ก่อนหน้าที่ถูก Breakout เล็กน้อย 🚧 🪙 RRR: ประมาณ 1:3 ขึ้นไป ✨ 🪙 อธิบาย: Setup นี้เหมาะกับคนที่อยากเข้าไวเมื่อเห็นโมเมนตัมแรงๆ ค่ะ เราจะเข้าเมื่อราคา Breakout แนวต้านระยะสั้นพร้อม Volume เป็นสัญญาณว่าแรงซื้อกำลังมาค่ะ เข้าได้เลยด้วยการตั้ง Limit Order หรือ Market Order เมื่อเห็นการ Breakout ที่ชัดเจนค่ะ 💨

3️⃣ ตัวอย่างที่ 3: พิจารณา Short สั้นๆ ในโซน Premium (สวนเทรนด์หลัก, ความเสี่ยงสูง)

🪙 Enter: หากราคาขึ้นไปในโซน Premium ใน TF 15m หรือ 1H และเกิดสัญญาณ Bearish Price Action ที่ชัดเจน เช่น แท่งเทียน Shooting Star หรือ Bearish Engulfing บริเวณ Supply Zone หรือ Bearish Order Block 🐻 🪙 TP: พิจารณาแนวรับถัดไป หรือ Sellside Liquidity ใน TF เดียวกัน 🎯 🪙 SL: เหนือ High ของสัญญาณ Bearish Price Action เล็กน้อย 💀 🪙 RRR: ประมาณ 1:1.5 ขึ้นไป (เน้นย้ำว่าเป็นการเทรดสวนเทรนด์หลัก ควรใช้ RRR ต่ำและบริหารขนาด Lot อย่างเข้มงวด!) 🪙 อธิบาย: Setup นี้สำหรับคนที่เห็นโอกาสในการทำกำไรจากการย่อตัวระยะสั้นค่ะ เราจะเข้า Short เมื่อเห็นสัญญาณว่าราคาอาจจะมีการพักฐานในโซนที่ถือว่า "แพง" ในกรอบสั้นๆ ค่ะ ต้องตั้ง Stop Loss ใกล้มากๆ และจับตาดูใกล้ชิดนะคะ 🚨

⚠️ Disclaimer: การวิเคราะห์นี้เป็นเพียงความคิดเห็นส่วนตัวของ Lina เท่านั้น ไม่ถือเป็นคำแนะนำในการลงทุนนะคะ การลงทุนมีความเสี่ยง ผู้ลงทุนควรศึกษาข้อมูลเพิ่มเติมและตัดสินใจด้วยความรอบคอบค่ะ 🙏

ขอให้ทุกท่านโชคดีกับการเทรดในวันนี้ค่ะ! มีคำถามอะไรเพิ่มเติม ถามมาได้เลยนะคะ ยินดีเสมอค่ะ! 😊

Bitcoin #BTCUSDT #Crypto #Trading #TechnicalAnalysis #SMC #ICT #MarketSlayer #TradeSetup #คริปโต #เทรดคริปโต #วิเคราะห์กราฟ #LinaEngword 😉

@ 872982aa:8fb54cfe

{.user-img}

@ 6ad3e2a3:c90b7740

You are wearing a helmet, but it's been on your head so long you no longer notice it.

The helmet interfaces with your mind via thought-emotion. It influences what you think about and how you feel.

You could remove the helmet at any time. But the thought-emotions keep you distracted, fearful and attached.

Occasionally you remember you are wearing it. Moments of clarity and detachment. You see the way your experience is colored by it. You know it is biased, untrue to reality. You seriously contemplate removing it.

But the moment passes.

Later, you remember contemplating your helmet’s removal, but you wonder what you will gain from it, whether it’s worth doing.

You are no longer having a moment of clarity, just a memory of the question that arose from it, but colored now by thought-emotions.

You decide even if you wanted to remove it, you would put it back on before long. After all, you have never kept it off before, why would you suddenly live without this interface now? The interface is what you know.

Maybe one day, when you are in a more secure place, when your ducks are more in a row, you will remove it. Not now, not in the midst of all this chaos, so many things to do, so much on your plate. You will leave it on for now. You will deal with this later.

But one day too late it dawns on you it is always ever now, and later means never. You have lived your entire life at the behest of the interface when all you had to do was remove it.

@ 33baa074:3bb3a297

Soil moisture is one of the key factors affecting crop root development. Too much or too little moisture will have an adverse effect on root growth.

Effect of excessive moisture When there is too much soil moisture, the following problems will occur:

Inhibit root respiration: Excessive moisture will squeeze out oxygen in the soil, causing root hypoxia, thereby inhibiting root respiration, and in severe cases, it can cause root growth to stop or rot and die. Affect soil aeration: Excessive moisture will reduce soil aeration and affect the normal growth of the root system. Effect of too little moisture When there is too little soil moisture, it will also have a negative impact on the root system:

Promote root corking and self-thinning: Lack of water can cause root corking and even self-thinning, affecting the absorption capacity of the root system.

Determine whether the soil moisture is appropriate In order to ensure the healthy development of crop roots, soil moisture needs to be managed reasonably. The following methods can be used to determine whether the soil moisture is appropriate:

Touch test: Use a small shovel to dig up the soil around the root system, grab some soil with your hand and pinch it in your hand. If the soil can be kneaded into a ball and can be spread apart, the moisture content is appropriate; if it can be kneaded into a ball but cannot be spread apart, the moisture content exceeds the standard; if it cannot be kneaded into a ball, the soil is lacking in water.

Conclusion In summary, soil moisture has an important impact on the development of crop roots. Reasonable water management is essential to promote healthy root growth. By monitoring and adjusting soil moisture through appropriate methods, the normal growth and development of crops can be effectively guaranteed.

@ 5d4b6c8d:8a1c1ee3

Comments: 3395 (Top Territory!!!) Posts: 306 (3rd) Stacking: 198k (2nd)

We're really bouncing back from the post-Super Bowl lull, with lots of contests and discussion threads. I think we've really found our niche with those two things.

The rest of Stacker News is experiencing declining activity, so our steady growth since February really tells me that we're on the right track.

Thanks for being part of our growing sports community!

originally posted at https://stacker.news/items/970289

@ 33baa074:3bb3a297

Real-time monitoring of oil concentration in water The basic principle of oil in water sensor is to use the characteristic that oil will produce fluorescence under ultraviolet light, and measure the fluorescence intensity to infer the concentration of oil. The sensor uses ultraviolet light as the excitation light source to illuminate the water sample to be tested. The oil absorbs ultraviolet light and excites fluorescence. The fluorescence signal is received by the photo detector and converted into an electrical signal, and then the strength of the electrical signal is measured to determine the concentration of oil in the water sample, so as to achieve real-time monitoring of the concentration of oil in the water. Multi-scenario water quality monitoring Water source water quality monitoring It can be used to monitor the water quality of water sources. By continuously monitoring the oil in the water source, the pollution source can be found in time, thereby ensuring the safety of drinking water and water supply.

Sewage treatment plant discharge monitoring Sewage treatment plants may produce oily wastewater in the process of treating sewage. The oil-in-water sensor can monitor the water quality of its discharge to ensure that it meets the discharge standards and avoids secondary pollution to the environment.

Monitoring of water bodies such as rivers and lakes Water bodies such as rivers and lakes may be polluted by oil substances, such as ship leakage and industrial wastewater discharge. This sensor can monitor the water quality of these water bodies, evaluate the pollution status, and provide a basis for pollution control.

Aquaculture monitoring The online oil-in-water monitor (including oil-in-water sensor) can transmit monitoring data in real time to help farmers understand the water quality. Farmers can use it to understand the oil content in the water body in real time, and reasonably release it according to the needs of fish to improve the growth rate and health level of fish; it can also timely detect abnormal conditions in the water body, such as oil pollution and bacterial growth, and take corresponding measures to avoid the occurrence of diseases and reduce breeding costs and risks; at the same time, it helps farmers better understand the growth of fish, reasonably arrange fishing time, avoid overfishing and resource depletion, and promote the sustainable use of aquatic resources.

Early warning and emergency response It has real-time monitoring and early warning functions, and can issue an alarm in time when abnormal conditions of oil substances in the water body (such as exceeding the pee-set safety threshold) are found, providing valuable time for emergency response and reducing losses caused by pollution.

Assisting scientific research The monitoring data of the sensor can be used in scientific research fields such as ecology and environmental chemistry, helping researchers to gain a deeper understanding of the distribution, migration and transformation of oil substances in water bodies, and provide a scientific basis for environmental protection and governance.

Monitoring of pollution sources and environmental changes By detecting oil substances in water bodies, the location of pollution sources and the types of pollutants can be determined, providing a basis for finding and controlling pollution sources; it can also monitor oil pollutants in water bodies to understand the impact of environmental changes on water bodies and take timely measures to protect water sources.

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This is an English openletter

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ບົດຄວາມນີ້ແປມາຈາ: https://jackkruse.com/what-to-do-with-new-cancer-diagnosis/

ເນື້ອຫາສຳລັບຜູ້ອ່ານ: 1. ຈະເຮັດແນວໃດເມື່ອທ່ານໄດ້ຮັບການວິນິດໄສວ່າເປັນມະເຮັງ? 2. ສະໜາມຮົບກັບມະເຮັງທີ່ສຳຄັນແມ່ນຢູ່ບ່ອນການປິ່ນປົວແບບແພດ ຫຼື ໃນຮ່າງກາຍຂອງທ່ານເອງ? 3. ອາຫານການກິນມີບົດບາດແນວໃດ? 4. ຈະຮັບມືກັບໝໍມະເຮັງຄົນໃໝ່ຂອງທ່ານແນວໃດ? 5. ບໍ່ຕ້ອງຢ້ານທີ່ຈະສຳຫຼວດທຸກຄວາມເປັນໄປໄດ້ເພື່ອຊະນະສົງຄາມນີ້. ຮຽນຮູ້ກ່ຽວກັບອາຫານ ketogenic!!!

ກ່ອນທ່ານຈະອ່ານບົດຄວາມນີ້, ໃຫ້ເບິ່ງວິດີໂອນີ້: HYPERLINK

ບົດຄວາມນີ້ແມ່ນສຳລັບໜຶ່ງໃນໝູ່ທີ່ພິເສດຂອງຂ້ອຍ ຜູ້ທີ່ພົວພັນຂ້ອຍໃນອາທິດນີ້ ແລະ ບອກວ່າເມຍລາວຖືກວິນິດໄສວ່າເປັນມະເຮັງໃນໄວອາຍຸໜຸ່ມ. ຂ້ອຍໄດ້ຍິນຈາກການໂທ ແລະ ໂພສຂອງລາວໃນ Facebook ວ່າມັນກຳລັງທຳລາຍລາວ. ຂ້ອຍບອກລາວທັນທີໃຫ້ໄປຊື້ປື້ມ Anti Cancer: A New Way of Life ໂດຍ David Servan Schreiber ແລະ ມອບໃຫ້ເຈົ້າສາວຂອງລາວ. ຂ່າວດີກໍ່ຄືຫຼາຍລ້ານຄົນໃນຈຳນວນ 6 ລ້ານຄົນທີ່ກຳລັງປິ່ນປົວມະເຮັງໃນປະຈຸບັນຈະມີຊີວິດທີ່ສົມບູນຕໍ່ໄປ. ຈຳນວນຜູ້ລອດຊີວິດຕາມຄວາມຄິດເຫັນຂອງຂ້ອຍຍັງຕ່ຳເກີນໄປ (ປະມານ 45-50%). ນອກຈາກນັ້ນ, ຫຼາຍຄົນໃນຈຳນວນ 2000 ຄົນທີ່ເສຍຊີວິດຈາກມະເຮັງທຸກມື້ແມ່ນເນື່ອງຈາກຄອບຄົວຂອງພວກເຂົາບໍ່ຮູ້ກ່ຽວກັບຊັບພະຍາກອນທີ່ມີໃນປະຈຸບັນສຳລັບການປິ່ນປົວມະເຮັງທັງແບບດັ້ງເດີມ ແລະ ແບບທາງເລືອກ ເຊັ່ນ: ການປິ່ນປົວແບບເສີມ ຫຼື ແບບບູລະນາການ.

ເມື່ອຖືກວິນິດໄສດ້ວຍພະຍາດນີ້, ທ່ານຈະຮູ້ສຶກສັ່ນສະເທືອນຢ່າງຮຸນແຮງ. ສິ່ງສຳຄັນທີ່ທ່ານຕ້ອງຮູ້ແມ່ນພະຍາດນີ້ບໍ່ພຽງແຕ່ສາມາດຕໍ່ສູ້ໄດ້ແຕ່ຍັງສາມາດປ້ອງກັນໄດ້ຖ້າທ່ານຕັດສິນໃຈປ່ຽນແປງບາງສິ່ງທັນທີ ແລະ ປ່ອຍວາງຄວາມເຊື່ອທີ່ບໍ່ຖືກຕ້ອງທີ່ທ່ານໄດ້ສະສົມໃນຊີວິດ. ນີ້ເປັນຄວາມຈິງໂດຍສະເພາະຖ້າທ່ານເຮັດວຽກໃນຂົງເຂດສາທາລະນະສຸກ ແລະ ໄດ້ດຳລົງຊີວິດຕາມຄວາມເຊື່ອຕາຍຕົວຕະຫຼອດຊີວິດ. ປື້ມນີ້ຂຽນໂດຍແພດນັກຄົ້ນຄວ້າທີ່ບໍ່ພຽງແຕ່ຖືກກະທົບຈາກມະເຮັງ ແຕ່ຍັງເປັນມະເຮັງສະໝອງທີ່ອັນຕະລາຍທີ່ສຸດ. ລາວສາມາດຮື້ຖອນຄວາມເຊື່ອຂອງຕົນເອງໃນຖານະແພດດ້ວຍວິທະຍາສາດໃໝ່ທີ່ມີຢູ່ສຳລັບນັກຄົ້ນຄວ້າ ແຕ່ບໍ່ແມ່ນແພດມະເຮັງທົ່ວໄປ. ປື້ມນີ້ຈຳເປັນສຳລັບທຸກຄົນທີ່ເປັນມະເຮັງ ຫຼື ມີປັດໄຈສ່ຽງ ເພື່ອທ່ານຈະໄດ້ຊະນະກ່ອນມັນເລີ່ມ. ນີ້ແມ່ນໜຶ່ງໃນເຫດຜົນທີ່ຂ້ອຍຂຽນ QUILT ຂອງຂ້ອຍ ເພາະຂ້ອຍເຊື່ອວ່າຖ້າທ່ານປົກປ້ອງຈຸລັງຂອງທ່ານ ທ່ານຈະບໍ່ເປັນພະຍາດນີ້. ດຽວນີ້ ໝູ່ຂອງຂ້ອຍເປັນພະຍາດນີ້... ນີ້ແມ່ນບົດຄວາມກ່ຽວກັບສິ່ງທີ່ທ່ານອາດພິຈາລະນາເຮັດທັນທີຫຼັງຈາກປຶກສາກັບແພດມະເຮັງຂອງທ່ານ. ພິຈາລະນາຂໍຄວາມຄິດເຫັນທີສອງຈາກສູນມະເຮັງທີ່ສຳຄັນເຊັ່ນ MD Anderson.

1. ອ່ານປື້ມ Anticancer ທີ່ກ່າວເຖິງຂ້າງເທິງ. ມັນສຳຄັນທີ່ຈະເຫັນພະຍາດນີ້ໃນມຸມມອງໃໝ່.

2. ປ່ຽນອາຫານການກິນຂອງທ່ານທັນທີເປັນ Epi-paleo Rx ແລະ ອອກຫ່າງຈາກອາຫານແບບຕາເວັນຕົກມາດຕະຖານ.

3. ເລີ່ມເຮັດສະມາທິໂດຍໄວເທົ່າທີ່ຈະເປັນໄປໄດ້ເພື່ອຄວບຄຸມ cortisol ແລະ ຄວາມກັງວົນຂອງທ່ານ. (ທາງເລືອກບໍ່ສຳຄັນແຕ່ການເຮັດຈິງຊ່ວຍຊີວິດໄດ້)

4. ຄົນເຈັບຄວນປຶກສາຫາລືກ່ຽວກັບແຜນການປິ່ນປົວມະເຮັງ: ປັດໃຈສຳຄັນໃນມະເຮັງ: ຄວນຄົນເຈັບໃຊ້ອາຫານເສີມສຳລັບປະເພດມະເຮັງທີ່ທ່ານມີບໍ?

5. ພິຈາລະນາເລີ່ມລະບົບອາຫານເສີມ ລວມເຖິງ Curcumin, Reservatrol, Quercetin, ນ້ຳມັນປາ Omega ສາມ (ຄຸນນະພາບ Rx), ວິຕາມິນ D3 ໂດຍມີເປົ້າໝາຍເກີນ 50 ng/dl, ການໃຊ້ CoEnZQ10 ເປັນປະຈຳທຸກວັນ, R-alpha lipoic acid ແລະ ວິຕາມິນ K ທຸກມື້. ພິຈາລະນາການໃຊ້ N Acetyl Cysteine ທຸກວັນເຊັ່ນກັນ. ສັງເກດວ່າຂ້ອຍບໍ່ໄດ້ກຳນົດປະລິມານເພາະປະລິມານທີ່ຕ້ອງການສຳລັບການບຳບັດມະເຮັງແມ່ນສູງກວ່າທີ່ຈະໃຊ້ໃນການປ້ອງກັນ. ສິ່ງນີ້ຄວນເຮັດພາຍໃຕ້ການປຶກສາກັບແພດມະເຮັງຂອງທ່ານ. ຖ້າແພດມະເຮັງຂອງທ່ານບໍ່ເປີດໃຈກວ້າງກ່ຽວກັບບັນຫາເຫຼົ່ານີ້... ຫຼັງຈາກອ່ານປື້ມໃນຂັ້ນຕອນທີໜຶ່ງ ທ່ານອາດຈະຕ້ອງຊອກຫາແພດມະເຮັງຄົນໃໝ່. ເຫຼົ່ານີ້ແມ່ນສິ່ງທີ່ຂ້ອຍພິຈາລະນາວ່າເປັນອາຫານເສີມຫຼັກສຳລັບມະເຮັງສ່ວນໃຫຍ່ທີ່ມະນຸດເປັນ.

6. ໃນອາຫານຂອງທ່ານໃຫ້ເພີ່ມ ຂີ້ໝິ້ນ, ຂິງ, ກະທຽມ, ຣອດສະແມລີ, ແລະ ໃບແບຊິນ (ໃບໂຫລະພາ) ໃສ່ອາຫານຂອງທ່ານໃຫ້ຫຼາຍເທົ່າທີ່ຈະເປັນໄປໄດ້. ທ່ານຄວນດື່ມຊາຂຽວ 1 ລິດຕໍ່ມື້. ຊາຂຽວມີ L-Theanine ທີ່ຊ່ວຍຫຼຸດຄວາມກັງວົນ ແຕ່ຍັງເປັນສ່ວນເສີມຂອງຢາເຄມີບຳບັດໂດຍເຮັດໃຫ້ພວກມັນມີປະສິດທິພາບຍິ່ງຂຶ້ນ. ທ່ານຍັງສາມາດໃຊ້ສານສະກັດຊາຂຽວຖ້າທ່ານບໍ່ຕ້ອງການດື່ມຂອງແຫຼວຫຼາຍ ຫຼື ບໍ່ສາມາດດື່ມໄດ້ເນື່ອງຈາກສະພາບຂອງທ່ານ.

7. ໃນປີ 1955 Otto Warburg ຜູ້ຊະນະລາງວັນໂນເບວພົບວ່າມະເຮັງທັງໝົດໃຊ້ນ້ຳຕານເປັນແຫຼ່ງພະລັງງານ ແລະ ລະດັບອິນຊູລິນສູງເຮັດໃຫ້ຮ່າງກາຍສູນເສຍການຄວບຄຸມລະບົບພູມຄຸ້ມກັນທີ່ຈະປ້ອງກັນມັນ. ນີ້ໝາຍຄວາມວ່າຄົນເຈັບຕ້ອງຈຳກັດທຸກສິ່ງທີ່ກະຕຸ້ນອິນຊູລິນ. ອາຫານແບບ Epi-paleo ທີ່ມີຄາໂບໄຮເດຣດຕ່ຳເຮັດໄດ້ແນວນີ້ພໍດີ. ຂໍ້ມູນອ້າງອີງທີ່ດີສຳລັບອາຫານແມ່ນຢູ່ບ່ອນນີ້.

8. ລະບົບພູມຄຸ້ມກັນຂອງທ່ານແມ່ນການປ້ອງກັນທີ່ດີທີ່ສຸດຕໍ່ມະເຮັງ. ເພີ່ມລະດັບວິຕາມິນ D ແລະ ຮັກສາລະດັບອິນຊູລິນໃຫ້ຕ່ຳກວ່າສອງ. ການຫຼຸດລະດັບ cortisol ຈະປັບປຸງ leptin ແຕ່ສິ່ງສຳຄັນທີ່ສຸດແມ່ນເພີ່ມຈຳນວນຈຸລັງ Natural Killer (WBC) ທີ່ເປັນສ່ວນໜຶ່ງຂອງລະບົບພູມຄຸ້ມກັນໃນຈຸລັງທີ່ຕໍ່ສູ້ກັບມະເຮັງ. ທ່ານຈະໄດ້ອ່ານຫຼາຍກ່ຽວກັບຈຸລັງເຫຼົ່ານີ້ໃນປື້ມທີ່ຂ້ອຍແນະນຳໃນຂັ້ນຕອນທີໜຶ່ງ.

9. ຜັກ. ເຮັດໃຫ້ຜັກຕະກຸນ cruciferous ເປັນອາຫານຫຼັກ. ພືດທັງໝົດໃນຕະກຸນ Brassica ແມ່ນໝູ່ຂອງທ່ານ. Glucosinolates ສາມາດຢັບຢັ້ງ, ຊະລໍ, ແລະ ປີ້ນການເກີດມະເຮັງຫຼາຍຂັ້ນຕອນ. ເຫດຜົນແມ່ນການປ່ອຍ isothiocyanates ເຊັ່ນ sulphoraphanes. Sulphoraphanes ເຮັດສອງສິ່ງຫຼັກ. ພວກມັນສົ່ງເສີມ apoptosis (levee 19) ແລະ ກະຕຸ້ນເອນໄຊມ໌ detoxification ໄລຍະສອງໃນຕັບທີ່ເສີມຄວາມເຂັ້ມແຂງໃຫ້ກັບຍີນ p53 ເປັນຜູ້ປົກປ້ອງຈີໂນມຂອງພວກເຮົາ. ຈຸລັງມະເຮັງມັກຈະຕາຍ (necrosis) ເມື່ອສຳຜັດກັບ sulphoraphanes ຢ່າງຕໍ່ເນື່ອງເປັນເວລາດົນ. ຜັກບຣອກໂຄລີຍັງມີສານ metabolite ຂັ້ນສອງທີ່ເອີ້ນວ່າ Indole 3 Carbinol ທີ່ແຕກຕົວຕໍ່ໄປເປັນສານຕ້ານມະເຮັງອີກຊະນິດໜຶ່ງຊື່ວ່າ DIM, diindolylmethane. ທ່ານບໍ່ສາມາດກິນຜັກພວກນີ້ຫຼາຍພໍຖ້າທ່ານເປັນມະເຮັງໃນທັດສະນະຂອງຂ້ອຍ. I3C ຍັງຂັດຂວາງ 16-hydroxyestrone ແລະ ມີປະໂຫຍດຫຼາຍໃນການປ້ອງກັນມະເຮັງເຕົ້ານົມ ແລະ ມະເຮັງຮັງໄຂ່ໃນແມ່ຍິງ ແລະ ມະເຮັງຕ່ອມລູກໝາກໃນຜູ້ຊາຍ.

10. ນີ້ແມ່ນສິ່ງທີ່ຂັດກັບຄວາມເຊື່ອຊຶ່ງຢູ່ໃນຫົວຂອງທ່ານ... ກິນ cholesterol ຫຼາຍໆ. ໂດຍສະເພາະນ້ຳມັນໝາກພ້າວ. ຫຼາຍການສຶກສາທາງລະບາດວິທະຍາສະແດງໃຫ້ເຫັນວ່າລະດັບ cholesterol ໃນເລືອດຕ່ຳສຳພັນກັບອັດຕາການເກີດມະເຮັງສູງ. ນີ້ແມ່ນເຫດຜົນທີ່ການກິນອາຫານ ketogenic Epi-paleo ມີຄວາມໝາຍຫຼາຍ. ເປັນຫຍັງອາຫານແບບ ketogenic? ເພາະມະເຮັງທັງໝົດໃຊ້ກລູໂຄສເປັນວັດຖຸດິບ. ທ່ານຈຳເປັນຕ້ອງປ່ຽນເຊື້ອໄຟຂອງຈຸລັງ. ໄປຊອກຫາ Otto Warburg ໃນ Google ສຳລັບລາຍລະອຽດເພີ່ມເຕີມ. ອາຫານແບບ ketogenic ຄວນມີ MCT ຈາກນ້ຳມັນໝາກພ້າວຫຼາຍ ເພາະພວກມັນໃຫ້ຂໍ້ໄດ້ປຽບຫຼາຍແກ່ຈຸລັງປົກກະຕິກວ່າຈຸລັງມະເຮັງ. ຂໍ້ໄດ້ປຽບນີ້ເຮັດໃຫ້ລະບົບພູມຄຸ້ມກັນຂອງທ່ານສາມາດຕາມທັນຈຸລັງມະເຮັງ ແລະ ທຳລາຍພວກມັນໂດຍໃຊ້ກົນໄກຊີວະວິທະຍາຂອງທ່ານເອງ. ມີຫຼາຍບົດຄວາມໃນວາລະສານມະເຮັງທີ່ພິມເຜີຍແຜ່ສະແດງໃຫ້ເຫັນການເຊື່ອມໂຍງແບບດຽວກັນ.

@ e39333da:7c66e53a

::youtube{#VQRLujxTm3c}

Rockstar released the second trailer for Grand Theft Auto VI, where they mention that it showcases both cinematic and gameplay scenes equally, though of course it doesn't show any direct gameplay.

This trailer also announces the release date for the game. The game will come out on the 26th of May, 2026, for the PS5 and the Xbox One.

@ 6389be64:ef439d32

In Jewish folklore, the golem—shaped from clay—is brought to life through sacred knowledge. Clay’s negative charge allows it to bind nutrients and water, echoing its mythic function as a vessel of potential.

Biochar in Amazonian terra preta shares this trait: it holds life-sustaining ions and harbors living intention. Both materials, inert alone, become generative through human action. The golem and black earths exist in parallel—one cultural, one ecological—shaping the lifeless into something that serves, protects, and endures.

originally posted at https://stacker.news/items/970089

@ 3d073b19:4ae60f39

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@ 5d4b6c8d:8a1c1ee3

My month long endeavor to be less of a lazibones has concluded.

For the whole month, I fairly consistently did whatever little chores needed to be done, as soon as I noticed they needed to be done. That was mostly laundry, making the bed, and (un)loading the dishwasher, plus lots of random cleaning up after the dog and kid.

Even with focusing less on getting steps, my steps were up about 15% from the previous month (which had nicer weather, btw). These were less empty steps, too. I was actually being productive.

I'm not sure any of the JBP-esque room cleaning type benefits materialized, but it was good for me, so I'll try to carry some new habits forward.

originally posted at https://stacker.news/items/969995

@ 266815e0:6cd408a5

Its been six long months of refactoring code and building out to the applesauce packages but the app is stable enough for another release.

This update is pretty much a full rewrite of the non-visible parts of the app. all the background services were either moved out to the applesauce packages or rewritten, the result is that noStrudel is a little faster and much more consistent with connections and publishing.

New layout

The app has a new layout now, it takes advantage of the full desktop screen and looks a little better than it did before.

Removed NIP-72 communities

The NIP-72 communities are no longer part of the app, if you want to continue using them there are still a few apps that support them ( like satellite.earth ) but noStrudel won't support them going forward.

The communities where interesting but ultimately proved too have some fundamental flaws, most notably that all posts had to be approved by a moderator. There were some good ideas on how to improve it but they would have only been patches and wouldn't have fixed the underlying issues.

I wont promise to build it into noStrudel, but NIP-29 (relay based groups) look a lot more promising and already have better moderation abilities then NIP-72 communities could ever have.

Settings view

There is now a dedicated settings view, so no more hunting around for where the relays are set or trying to find how to add another account. its all in one place now

Cleaned up lists

The list views are a little cleaner now, and they have a simple edit modal

New emoji picker

Just another small improvement that makes the app feel more complete.

Experimental Wallet

There is a new "wallet" view in the app that lets you manage your NIP-60 cashu wallet. its very experimental and probably won't work for you, but its there and I hope to finish it up so the app can support NIP-61 nutzaps.

WARNING: Don't feed the wallet your hard earned sats, it will eat them!

Smaller improvements

• Added NSFW flag for replies
• Updated NIP-48 bunker login to work with new spec
• Linkfy BIPs
• Added 404 page
• Add NIP-22 comments under badges, files, and articles
• Add max height to timeline notes
• Fix articles view freezing on load
• Add option to mirror blobs when sharing notes
• Remove "open in drawer" for notes

@ 3d073b19:4ae60f39

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@ 3c389c8f:7a2eff7f

As I'm sitting here trying to hone in on what might be important to write about in this moment, my mind keeps swirling around through all the things that have me sitting here to begin with. Nostr found me in a time when my life needed a change. The discovery of something that provided the light of hope to an otherwise dark, dystopian future was more powerful than I could have ever predicted. Timing is everything, they say. I believe that to be half true, as timing alone means nothing if the will is non-existent. The intersection of opportunity and preparedness, and all that. I know how I found my way here, but I do not fully understand the things that have drawn my curiosity and kept my attention so strongly. My will ached for change, simplicity, and meaning. I found it, in what seem to me, simultaneously the most likely and the most unlikely of places. There's a magic to that, and its probably better to leave some questions unanswered, lest they lose their mystic power.

My experiences are my own but theme of them resonates through most of the people with whom I interact. It's been very clear that I wasn't alone in these feelings. A movement of highly inspired, hopeful people have continued to support this digital freedom movement since my arrival, in varying ways. Some people have highly technical skills ranging from network systems to design to cybersecurity. Others, like myself, have little to offer in the realms of functionality and we do what we can to breathe life into the systems built to provide digital freedom of speech for all. It's a humbling experience. We are reminded. sometimes directly and sometimes indirectly, that none of Nostr would matter if there were no one using it. We know this to be true, but it is no less humbling to be surrounded by constant innovation and a thriving desire to bring this experience to the entire world.

Now here I sit, tapping out these words, in the midst of another massive life change, stressful but chosen. I could sign off, go read a book in the garden, and go about my world as I would have in my pre-Nostr times. I don't want to do that, though. Hope is here. If there is a place to dwell, in hope is where I will always choose.

I find it important to acknowledge, though, that Nostr and the people using it are in a constant state of flux, too. This isn't my rock nor harbor nor shelter. It's the chaotic good, reminding me both to keep an appreciation for how far this ecosystem has come in such a short amount of time and a realistic set of expectations for where this all can go. The same applies for how well things work at any given moment...And equally so in missing my some of my early Nostr friends that have come and gone, while remaining open to the possibility of meeting new ones... Experiences had and experiences yet to come. I don't know if I have ever been so coaxed outside of my mind by a group of strangers on the internet. But here I am, looking back and looking forward, surrounded by awe in all directions, sharing thoughts that would otherwise be scribbled in pen to be burned in a random evening fire. I've long felt that the core of social media should be just this. Spaces for people to connect, above all else, in the ways that create meaning in our lives. I suppose in some ways that did exist before, but it was twisted, and obscured, and slowly pulled away.

Now its here and super-charged by possibility. What this looks like for any individual will not be the same as my own view. That's part of what makes this so beautiful to me. We need to be able to speak freely. Just as importantly we need to be able to surround ourselves with the things and people that makes us want to do more, that make us want to feel humbled. Or not, if we so choose... but I choose hope.

@ 5d4b6c8d:8a1c1ee3

The top three ~econ posts, by zaprank, in April were

Pleb Economist #6: Analysis of Trump's Reciprocal Tariff Calculations by @SimpleStacker

Remember those goofy tariff and non-tariff barrier numbers? SimpleStacker walks us through the assumptions and formulas that they were derived from. There's a good discussion around how much sense those assumptions make and where they came from.

Twenty One Capital: You Can Just Do Things (Bloomberg, Matt Levine) by @denlillaapan

A commentary on a commentary on the 21 Capital bitcoin strategy. Why are investors willing to pay several multiples of bitcoin's current purchase price to get exposure to it in this form? Let @denlillaapan know in the comments.

The WSJ (kinda) covers the Mar-a-Lago Accords plus Miran's Incredible Speech by @028559d218

Analysis of Steve Miran's speech about "Global Public Goods". Will the rest of the world tell America to "go F itself", as the author repeatedly suggests? Eventually, no doubt they/we will.

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Thanks to our great authors and generous zappers!

The top post will be entered into the quarterly top post contest, which we'll hold in July.

originally posted at https://stacker.news/items/969806

@ 5d4b6c8d:8a1c1ee3

The first round is not quite over, with Warriors vs Rockets and Nuggets vs Clippers, still going in the West, But we do know most of who will be playing in the second round, so it's not too early to start thinking about our picks.

This contest is open entry throughout. Just submit a pick for who will win their series and who will be the leading scorer of the entire playoff round. You can select a team or player, up until tipoff of their series.

Matchups (seed)

• Pacers (4) @ Cavs (1)
• Knicks (3) @ Celtics (2)
• Nuggets (4) or Clippers (5) @ Thunder (1)
• T-Wolves (6) @ Rockets (2) or Warriors (7) @ T-Wolves (6)

Scoring

2 Points + seed for picking a winner + 2 points for picking the leading scorer (total points) of the round

Standings

These will change if the Clippers or Warriors advance. Also, if Jokic scores 37 or more, he will catch Brunson (who no one selected) and net a few stackers another point. | Stacker | Points | |---------|--------| | @grayruby | 24| | @Coinsreporter | 19 | | @Carresan | 18 | | @gnilma | 18 | | @Undisciplined | 17 | | @WeAreAllSatoshi | 12 | | @fishious | 11 | | @BlokchainB | 11 | | @Car | 1 |

Prize

10k sats (or total zaps on these posts, whichever is larger)

originally posted at https://stacker.news/items/969492

@ bf47c19e:c3d2573b

Originalni tekst na dvadesetjedan.com

Autor: Vijay Boyapati / Prevod na hrvatski: Matija

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Sa zadnjim cijenama koje je bitcoin dosegao 2017., optimističan scenarij za ulagače se možda čini toliko očitim da ga nije potrebno niti spominjati. Alternativno, možda se nekome čini glupo ulagati u digitalnu vrijednost koja ne počiva na nijednom fizičkom dobru ili vladi i čiji porast cijene su neki usporedili sa manijom tulipana ili dot-com balonom. Nijedno nije točno; optimističan scenarij za Bitcoin je uvjerljiv, ali ne i očit. Postoje značajni rizici kod ulaganja u Bitcoin, no, kao što planiram pokazati, postoji i ogromna prilika.

Geneza

Nikad u povijesti svijeta nije bilo moguće napraviti transfer vrijednosti među fizički udaljenim ljudima bez posrednika, poput banke ili vlade. 2008. godine, anonimni Satoshi Nakamoto je objavio 8 stranica rješenja na dugo nerješivi računalski problem poznat kao “Problem Bizantskog Generala.” Njegovo rješenje i sustav koji je izgradio - Bitcoin - dozvolio je, prvi put ikad, da se vrijednost prenosi brzo i daleko, bez ikakvih posrednika ili povjerenja. Implikacije kreacije Bitcoina su toliko duboke, ekonomski i računalski, da bi Nakamoto trebao biti prva osoba nominirana za Nobelovu nagradu za ekonomiju i Turingovu nagradu.

Za ulagače, važna činjenica izuma Bitcoina (mreže i protokola) je stvaranje novog oskudnog digitalnog dobra - bitcoina (monetarne jedinice). Bitcoini su prenosivi digitalni “novčići” (tokeni), proizvedeni na Bitcoin mreži kroz proces nazvan “rudarenje” (mining). Rudarenje Bitcoina je ugrubo usporedivo sa rudarenjem zlata, uz bitnu razliku da proizvodnja bitcoina prati unaprijed osmišljeni i predvidivi raspored. Samo 21 milijun bitcoina će ikad postojati, i većina (2017., kada je ovaj tekst napisan) su već izrudareni. Svake četiri godine, količina rudarenih bitcoina se prepolovi. Produkcija novih bitcoina će potpuno prestati 2140. godine.

Stopa inflacije —— Monetarna baza

Bitcoine ne podržava nikakva roba ili dobra, niti ih garantira ikakva vlada ili firma, što postavlja očito pitanje za svakog novog bitcoin ulagača: zašto imaju uopće ikakvu vrijednost? Za razliku od dionica, obveznica, nekretnina ili robe poput nafte i žita, bitcoine nije moguće vrednovati koristeći standardne ekonomske analize ili korisnost u proizvodnji drugih dobara. Bitcoini pripadaju sasvim drugoj kategoriji dobara - monetarnih dobara, čija se vrijednost definira kroz tzv. teoriju igara; svaki sudionik na tržištu vrednuje neko dobro, onoliko koliko procjenjuje da će ga drugi sudionici vrednovati. Kako bismo bolje razumjeli ovo svojstvo monetarnih dobara, trebamo istražiti podrijetlo novca.

Podrijetlo novca

U prvim ljudskim društvima, trgovina među grupama se vršila kroz robnu razmjenu. Velika neefikasnost prisutna u robnoj razmjeni je drastično ograničavala količinu i geografski prostor na kojem je bila moguća. Jedan od najvećih problema sa robnom razmjenom je problem dvostruke podudarnosti potražnje. Uzgajivač jabuka možda želi trgovati sa ribarom, ali ako ribar ne želi jabuke u istom trenutku, razmjena se neće dogoditi. Kroz vrijeme, ljudi su razvili želju za čuvanjem određenih predmeta zbog njihove rijetkosti i simbolične vrijednosti (npr. školjke, životinjski zube, kremen). Zaista, kako i Nick Szabo govori u svojem izvrsnom eseju o podrijetlu novca, ljudska želja za sakupljanjem predmeta pružila je izraženu evolucijsku prednost ranom čovjeku nad njegovim najbližim biološkim rivalom, neandertalcem - Homo neanderthalensis.

"Primarna i najbitnija evolucijska funkcija sakupljanja bila je osigurati medij za čuvanje i prenošenje vrijednosti".

Predmeti koje su ljudi sakupljali služili su kao svojevrsni “proto-novac,” tako što su omogućavale trgovinu među antagonističkim plemenima i dozvoljavale bogatsvu da se prenosi na sljedeću generaciju. Trgovina i transfer takvih predmeta bile su rijetke u paleolitskim društvima, te su oni služili više kao “spremište vrijednosti” (store of value) nego kao “medij razmjene” (medium of exchange), što je uloga koju danas igra moderni novac. Szabo objašnjava:

"U usporedbi sa modernim novcem, primitivan novac je imao jako malo “brzinu” - mogao je promijeniti ruke samo nekoliko puta u životu prosječnog čovjeka. Svejedno, trajni i čvrsti sakupljački predmet, što bismo danas nazvali “nasljeđe,” mogao je opstati mnogo generacija, dodajući znatnu vrijednost pri svakom transferu - i zapravo omogućiti transfer uopće".

Rani čovjek suočio se sa bitnom dilemom u teoriji igara, kada je odlučivao koje predmete sakupljati: koje od njih će drugi ljudi željeti? Onaj koji bi to točno predvidio imao bi ogromnu prednost u mogućnosti trgovine i akvizicije bogatsva. Neka američka indijanska plemena, npr. Naraganseti, specijalizirala su se u proizvodnji sakupljačkih dobara koja nisu imala drugu svrhu osim trgovine. Valja spomenuti da što je ranije predviđanje da će neko dobro imati takvu vrijednost, veća je prednost koju će imati onaj koji je posjeduje, zato što ju je moguće nabaviti jeftinije, prije nego postane vrlo tražena roba i njezona vrijednost naraste zajedno sa populacijom. Nadalje, nabava nekog dobra u nadi da će u budućnosti biti korišteno kao spremište vrijednosti, ubrzava upravo tu primjenu. Ova cirkularnost je zapravo povratna veza (feedback loop) koja potiče društva da se rapidno slože oko jednog spremišta vrijednosti. U terminima teorije igara, ovo je znano kao “Nashov ekvilibrij.” Postizanje Nashovog ekvilibrija za neko spremište vrijednosti je veliko postignuće za društvo, pošto ono znatno olakšava trgovinu i podjelu rada, i time omogućava napredak civilizacije.

Tisućljećima, kako su ljudska društva rasla i otvarala trgovinske puteve, različite aplikacije spremišta vrijednosti u individualnim društvima počele su se natjecati međusobno. Trgovci su imali izbor: čuvati svoju zaradu u spremištu vrijednosti vlastite kulture, ili one kulture sa kojom su trgovali, ili mješavini oboje. Benefit štednje u stranom spremištu vrijednosti bila je uvećana sposobnost trgovanja u povezanom stranom društvu. Trgovci koji su štedili u stranom spremištu vrijednosti su također imali dobrih razloga da potiču svoje društvo da ga prihvati, jer bi tako uvećali vrijednost vlastite ušteđevine. Prednosti “uvezene” tehnologije spremanja vrijednosti bile su prisutne ne samo za trgovce, nego i za sama društva. Kada bi se dvije grupe konvergirale u jedinstvenom spremištu vrijednosti, to bi značajno smanjilo cijenu troškova trgovine jednog s drugim, i samim time povećanje bogatstva kroz trgovinu. I zaista, 19. stoljeće bilo je prvi put da je najveći dio svijeta prihvatio jedinstveno spremište vrijednosti - zlato - i u tom periodu vidio najveću eksploziju trgovine u povijesti svijeta. O ovom mirnom periodu, pisao je John Maynard Keynes:

"Kakva nevjerojatna epizoda u ekonomskom napretku čovjeka… za svakog čovjeka iole iznadprosječnog, iz srednje ili više klase, život je nudio obilje, ugodu i mogućnosti, po niskoj cijeni i bez puno problema, više nego monarsima iz prethodnih perioda. Stanovnik Londona mogao je, ispijajući jutarnji čaj iz kreveta, telefonski naručiti razne proizvode iz cijele Zemlje, u količinama koje je želio, i sa dobrim razlogom očekivati njihovu dostavu na svoj kućni prag."

Svojstva dobrog spremišta vrijednosti

Kada se spremišta vrijednosti natječu jedno s drugim, specifična svojstva rade razliku koja daje jednom prednost nad drugim. Premda su mnoga dobra u prošlosti korištena kao spremišta vrijednosti ili kao “proto-novac,” određena svojstva su se pokazala kao posebno važna, i omogućila dobrima sa njima da pobijede. Idealno spremište vrijednosti biti će:

• Trajno: dobro ne smije biti kvarljivo ili lako uništeno. Tako naprimjer, žito nije idealno spremište vrijednosti.
• Prenosivo: dobro mora biti lako transportirati i čuvati, što omogućuje osiguranje protiv gubitka ili krađe i dopušta trgovinu na velike udaljenosti. Tako, krava je lošije spremište vrijednosti od zlatne narukvice.
• Zamjenjivo: jedna jedinica dobra treba biti zamjenjiva sa drugom. Bez zamjenjivosti, problem podudarnosti želja ostaje nerješiv. Time, zlato je bolje od dijamanata, jer su oni nepravilni u obliku i kvaliteti.
• Provjerljivo: dobro mora biti lako i brzo identificirano i testirano za autentičnost. Laka provjera povećava povjerenje u trgovini i vjerojatnost da će razmjena biti dovršena.
• Djeljivo: dobro mora biti lako djeljivo na manje dijelove. Premda je ovo svojstvo bilo manje važno u ranim društvima gdje je trgovina bila rijetka, postalo je važnije sa procvatom trgovine. Količine koje su se mijenjale postale su manje i preciznije.
• Oskudno: Monetarno dobro mora imati “cijenu nemoguću za lažirati,” kao što je rekao Nick Szabo. Drugim riječima, dobro ne smije biti obilno ili lako dostupno kroz proizvodnju. Oskudnost je možda i najvažnije svojstvo spremišta vrijednosti, pošto se izravno vezuje na ljudsku želju da sakupljamo ono što je rijetko. Ona je izvor vrijednosti u spremištu vrijednosti.
• Duge povijesti: što je dulje neko dobro vrijedno za društvo, veća je vjerojatnost da će biti prihvaćeno kao spremište vrijednosti. Dugo postojeće spremište vrijednosti biti će jako teško uklonjeno od strane došljaka, osim u slučaju sile (ratno osvajanje) ili ako je nova tehnologija znatno bolja u ostalim svojstvima.
• Otporno na cenzuru: novije svojstvo, sve više važno u modernom digitalnom svijetu sa sveprisutnim nadzorom, je otpornost na cenzuru. Drugim riječima, koliko je teško da vanjski agent, kao korporacija ili država, spriječi vlasnika dobra da ga čuva i koristi. Dobra koja su otporna na cenzuru su idealna za ljude koji žive u režimima koji prisilno nadziru kapital ili čine neke oblike mirne trgovine protuzakonitima.

Ova tablica ocjenjuje Bitcoin, zlato (gold) i fiat novac (kao što je euro ili dolar) po svojstvima izlistanim gore. Objašnjenje svake ocjene slijedi nakon tablice.

Trajnost:

Zlato je neosporeni kralj trajnosti. Velika većina zlata pronađenog kroz povijest, uključujući ono egipatskih faraona, opstaje i danas i vjerojatno će postojati i za tisuću godina. Zlatnici korišteni u antičko doba imaju značajnu vrijednost i danas. Fiat valute i bitcoini su digitalni zapisi koji ponekad imaju fizički oblik (npr. novčanice). Dakle, njihovu trajnost ne određuju njihova fizička svojstva (moguće je zamijeniti staru i oštećenu novčanicu za novu), nego institucije koje stoje iza njih. U slučaju fiat valuta, mnoge države su nastale i nestale kroz stoljeća, i valute su nestale s njima. Marke iz Weimarske republike danas nemaju vrijednost zato što institucija koja ih je izdavala više ne postoji. Ako je povijest ikakav pokazatelj, ne bi bilo mudro smatrati fiat valute trajnima dugoročno; američki dolar i britanska funta su relativne anomalije u ovom pogledu. Bitcoini, zato što nemaju instituciju koja ih održava, mogu se smatrati trajnima dok god mreža koja ih osigurava postoji. Obzirom da je Bitcoin još uvijek mlada valuta, prerano je za čvrste zaključke o njegovoj trajnosti. No, postoje ohrabrujući znakovi - prominente države su ga pokušavale regulirati, hakeri ga napadali - usprkos tome, mreža nastavlja funkcionirati, pokazujući visok stupanj antifragilnosti.

Prenosivost:

Bitcoini su najprenosivije spremište vrijednosti ikad. Privatni ključevi koji predstavljaju stotine milijuna dolara mogu se spremiti na USB drive i lako ponijeti bilo gdje. Nadalje, jednako velike sume mogu se poslati na drugi kraj svijeta skoro instantno. Fiat valute, zbog svojeg temeljno digitalnog oblika, su također lako prenosive. Ali, regulacije i kontrola kapitala od strane države mogu ugroziti velike prijenose vrijednosti, ili ih usporiti danima. Gotovina se može koristiti kako bi se izbjegle kontrole kapitala, ali onda rastu rizik čuvanja i cijena transporta. Zlato, zbog svojeg fizičkog oblika i velike gustoće, je najmanje prenosivo. Nije čudo da većina zlatnika i poluga nikad ne napuste sefove. Kada se radi prijenos zlata između prodavača i kupca, uglavnom se prenosi samo ugovor o vlasništvu, ne samo fizičko zlato. Prijenos fizičkog zlata na velike udaljenosti je skupo, riskantno i sporo.

Zamjenjivost:

Zlato nam daje standard za zamjenjivost. Kada je rastopljeno, gram zlata je praktički nemoguće razlikovati od bilo kojeg drugog grama, i zlato je oduvijek bilo takvo. S druge strane, fiat valute, su zamjenjive samo onoliko koliko njihova institucija želi da budu. Iako je uglavnom slučaj da je novčanica zamjenjiva za drugu istog iznosa, postoje situacije u kojima su velike novčanice tretirane drukčije od malih. Naprimjer, vlada Indije je, u pokušaju da uništi neoporezivo sivo tržište, potpuno oduzela vrijednost novčanicama od 500 i 1000 rupija. To je uzrokovalo da ljudi manje vrednuju te novčanice u trgovini, što je značilo da više nisu bile zaista zamjenjive za manje novčanice. Bitcoini su zamjenjivi na razini mreže; svaki bitcoin je pri prijenosu tretiran kao svaki drugi. No, zato što je moguće pratiti individualne bitcoine na blockchainu, određeni bitcoin može, u teoriji, postati “prljav” zbog korštenja u ilegalnoj trgovini, te ga trgovci ili mjenjačnice možda neće htjeti prihvatiti. Bez dodatnih poboljšanja oko privatnosti i anonimnosti na razini mrežnog protokola, bitcoine ne možemo smatrati jednako zamjenjivim kao zlato.

Mogućnost provjere:

Praktično gledajući, autentičnost fiat valuta i zlata je prilično lako provjeriti. Svejedno, i usprkos pokušajima da spriječe krivotvorenje novčanica, i dalje postoji potencijal prevare za vlade i njihove građane. Zlato također nije imuno na krivotvorenje. Sofisticirani kriminalci su koristili pozlaćeni tungsten kako bi prevarili kupce zlata. Bitcoine je moguće provjeriti sa matematičkom sigurnošću. Korištenjem kriptografskih potpisa, vlasnik bitcoina može javno demonstrirati da posjeduje bitcoine koje tvrdi da posjeduje.

Djeljivost:

Bitcoine je moguće podijeliti u stotinu milijuna manjih jedinica (zvanih satoshi), i prenositi takve (no, valja uzeti u obzir ekonomičnost prijenosa malih iznosa, zbog cijene osiguravanja mreže - “network fee”). Fiat valute su tipično dovoljno djeljive na jedinice sa vrlo niskom kupovnom moći. Zlato, iako fizički i teoretski djeljivo, postaje teško za korištenje kada se podijeli na dovoljno male količine da bi se moglo koristiti u svakodnevnoj trgovini.

Oskudnost:

Svojstvo koje najjasnije razlikuje Bitcoin od fiat valuta i zlata je njegova unaprijed definirana oskudnost. Od početka, konačna količina bitcoina nikad neće biti veća od 21 milijun. To daje vlasnicima bitcoina jasan i znan uvid u postotak ukupnog vlasništva. Naprimjer, vlasnik 10 bitcoina bi znao da najviše 2,1 milijuna ljudi (manje od 0.03% populacije) može ikad imati isto bitcoina kao i on. Premda je kroz povijest uvijek bilo oskudno, zlato nije imuno na povećanje ukupne količine. Ako se ikad izumi nova, ekonomičnija metoda rudarenja ili proizvodnje zlata, ukupna količina zlata bi se mogla dramatično povećati (npr. rudarenje morskog dna ili asteroida). Na kraju, fiat valute, relativno nov izum u povijesti, pokazale su se sklonima konstantnim povećanjima u količini. Države su pokazale stalnu sklonost inflaciji monetarne kvantitete kako bi rješavale kratkoročne političke probleme. Inflacijske tendencije vlada diljem svijeta čine fiat valute gotovo sigurnim da će gubiti vrijednost kroz vrijeme.

Etablirana povijest:

Nijedno monetarno dobro nema povijest kao zlato, koje je imalo vrijednost za cijelog trajanja ljudske civilizacije. Kovanice izrađene u antičko doba i danas imaju značajnu vrijednost. Ne može se isto reći za fiat valute, koje su same relativno nova povijesna anomalija. Od njihovog početka, fiat valute su imale gotovo univerzalni smjer prema bezvrijednosti. Korištenje inflacije kao podmuklog načina za nevidljivo oporezivanje građana je vječita kušnja kojoj se skoro nijedna država u povijesti nije mogla oduprijeti. Ako je 20. stoljeće, u kojem je fiat novac dominirao globalni monetarni poredak, demonstriralo neku ekonomsku istinu, to je onda bila ta da ne možemo računati na fiat novac da održi vrijednost u dužem ili srednjem vremenskom periodu. Bitcoin, usprkos svojoj novosti, je preživio dovoljno testova tržišta da postoji velika vjerojatnost da neće nestati kao vrijedno dobro. Nadalje, Lindy efekt govori da što duže Bitcoin bude korišten, to će veća biti vjera u njega i njegovu sposobnost da nastavi postojati dugo u budućnost. Drugim riječima, društvena vjera u monetarno dobro je asimptotička, kao u grafu ispod:

Ako Bitcoin preživi prvih 20 godina, imat će gotovo sveopće povjerenje da će trajati zauvijek, kao što ljudi vjeruju da je internet trajna stvar u modernom svijetu.

Otpor na cenzuru

Jedan od najbitnijih izvora za ranu potražnju bitcoina bila je njegova upotreba u ilegalnoj kupovini i prodaji droge. Mnogi su zato pogrešno zaključili da je primarna potražnja za bitcoinima utemeljena u njihovoj prividnoj anonimnosti. Međutim, Bitcoin nije anonimna valuta; svaka transakcija na mreži je zauvijek zapisana na javnom blockchainu. Povijesni zapis transakcija dozvoljava forenzičkoj analizi da identificira izvore i tijek sredstava. Takva analiza dovela je do uhićenja počinitelja zloglasne MtGox pljačke. Premda je istina da dovoljno oprezna i pedantna osoba može sakriti svoj identitet koristeći Bitcoin, to nije razlog zašto je Bitcoin bio toliko popularan u trgovini drogom.

Ključno svojstvo koje čini Bitcoin najboljim za takve aktivnosti je njegova agnostičnost i nepotrebnost za dozvolom (“premissionlessness”) na mrežnoj razini. Kada se bitcoini prenose na Bitcoin mreži, ne postoji nitko tko dopušta transakcije. Bitcoin je distribuirana peer-to-peer (korisnik-korisniku) mreža, i samim time dizajnirana da bude otporna na cenzuru. Ovo je u velikom kontrastu sa fiat bankarskim sustavom, u kojem države reguliraju banke i ostale institucije prijenosa novca, kako bi one prijavljivale i sprječavale protuzakonito korištenje monetarnih dobara. Klasičan primjer regulacije novca su kontrole kapitala. Npr., bogati milijunaš će vrlo teško prenijeti svoje bogatstvo u novu zemlju, kada bježi iz opresivnog režima. Premda zlato nije izdano i proizvedeno od države, njegova fizička priroda ga čini teško prenosivim kroz prostor, i samim time ga je daleko lakše regulirati nego Bitcoin. Indijski Akt kontrole zlata je primjer takve regulacije.

Bitcoin je odličan u većini gore navedenih svojstava, što mu omogućava da bude marginalno bolji od modernih i drevnih monetarnih dobara, te da pruži poticaje za svoje rastuće društveno usvajanje. Specifično, moćna kombinacija otpornosti na cenzuru i apsolutne oskudnosti bila je velika motivacija za bogate ulagače koji su uložili dio svojeg bogatstva u Bitcoin.

Evolucija novca

U modernoj monetarnoj ekonomiji postoji opsesija sa ulogom novca kao medija razmjene. U 20. stoljeću, države su monopolizirale izdavanje i kontrolu novca i kontinuirano potkopavale njegovo svojstvo spremišta vrijednosti, stvarajući lažno uvjerenje da je primarna svrha novca biti medij razmjene. Mnogi su kritizirali Bitcoin, govoreći da je neprikladan da bude novac zato što mu je cijena bila previše volatilna za medij razmjene. No, novac je uvijek evoluirao kroz etape; uloga spremišta vrijednosti je dolazila prije medija razmjene. Jedan od očeva marginalističke ekonomije, William Stanley Jevons, objašnjava:

"Povijesno govoreći… čini se da je zlato prvo služilo kao luksuzni metal za ukras; drugo, kao sačuvana vrijednost; treće, kao medij razmjene; i konačno, kao mjerilo vrijednosti."

U modernoj terminologiji, novac uvijek evoluira kroz četiri stadija:

1. Kolekcionarstvo: U prvoj fazi svoje evolucije, novac je tražen samo zbog svojih posebnih svojstava, uglavnom zbog želja onog koji ga posjeduje. Školjke, perlice i zlato su bili sakupljani prije nego su poprimili poznatije uloge novca.
2. Spremište vrijednosti: Jednom kada je novac tražen od dovoljnog broja ljudi, biti će prepoznat kao način za čuvanje i spremanje vrijednosti kroz vrijeme. Kada neko dobro postane široko korišteno kao spremište vrijednosti, njegova kupovna moć raste sa povećanom potražnjom za tu svrhu. Kupovna moć spremišta vrijednosti će u jednom trenutku doći do vrhunca, kada je dovolno rašireno i broj novih ljudi koji ga potražuju splasne.
3. Sredstvo razmjene: Kada je novac potpuno etabliran kao spremište vrijednosti, njegova kupovna moć se stabilizira. Nakon toga, postane prikladno sredstvo razmjene zbog stabilnosti svoje cijene. U najranijim danima Bitcoina, mnogi ljudi nisu shvaćali koju buduću cijenu plaćaju koristeći bitcoine kao sredstvo razmjene, umjesto kao novonastalo spremište vrijednosti. Poznata priča o čovjeku koji je za 10,000 bitcoina (vrijednih oko 94 milijuna dolara kada je ovaj članak napisan) za dvije pizze ilustrira ovaj problem.
4. Jedinica računanja vrijednosti: Jednom kada je novac široko korišten kao sredstvo razmjene, dobra će biti vrednovana u njemu, tj. većina cijena će biti izražena u njemu. Uobičajena zabluda je da je većinu dobara moguće zamijeniti za bitcoine danas. Npr., premda je možda moguće kupiti šalicu kave za bitcoine, izlistana cijena nije prava bitcoin cijena; zapravo se radi o cijeni u državnoj valuti koju želi trgovac, preračunatu u bitcoin po trenutnoj tržišnoj cijeni. Kad bi cijena bitcoina pala u odnosu na valutu, vrijednost šalice izražena u bitcoinima bi se povećala. Od trenutka kada trgovci budu voljni prihvaćani bitcoine kao platežno sredstvo, bez obraćanja pažnje na vrijednost bitcoina u državnoj fiat valuti, moći ćemo reći da je Bitcoin zaista postao jedinica računanja vrijednosti.

Monetarna dobra koja još nisu jedinice računanja vrijednosti možemo smatrati “djelomično monetiziranima.” Danas zlato ima takvu ulogu, jer je spremište vrijednosti, ali su mu uloge sredstva razmjene i računanja vrijednosti oduzete intervencijama država. Moguće je također da se jedno dobro koristi kao sredstvo razmjene, dok druga ispunjavaju ostale uloge. To je tipično u zemljama gdje je država disfunkcionalna, npr. Argentina ili Zimbabwe. U svojoj knjizi, Digitalno zlato, Nathaniel Popper piše:

"U Americi, dolar služi trima funkcijama novca: nudi sredstvo razmjene, jedinicu za mjerenje vrijednosti dobara, i mjesto gdje se može čuvati vrijednosti. S druge strane, argentinski peso je korišten kao sredstvo razmjene (za svakodnevne potrebe), ali ga nitko nije koristio kao spremište vrijednosti. Štednja u pesosima bila je ekvivalent bacanja novca. Zato su ljudi svu svoju štednju imali u dolarima, jer je dolar bolje čuvao vrijednost. Zbog volatilnosti pesosa, ljudi su računali cijene u dolarima, što im je pružalo pouzdaniju jedinicu mjerenja kroz vrijeme."

Bitcoin je trenutno u fazi tranzicije iz prvog stadija monetizacije u drugi. Vjerojatno će proći nekoliko godina prije nego Bitcoin pređe iz začetaka spremišta vrijednosti u istinski medij razmjene, i put do tog trenutka je još uvijek pun rizika i nesigurnosti. Važno je napomenuti da je ista tranzicija trajala mnogo stoljeća za zlato. Nitko danas živ nije doživio monetizaciju dobra u realnom vremenu (kroz koju Bitcoin prolazi), tako da nemamo puno iskustva govoriti o putu i načinu na koji će se monetizacija dogoditi.

Put monetizacije

Kroz proces monetizacije, monetarno dobro će naglo porasti u kupovnoj moći. Mnogi su tako komentirali da je uvećanje kupovne moći Bitcoina izgledalo kao “balon” (bubble). Premda je ovaj termin često korišten kako bi ukazao na pretjeranu vrijednosti Bitcoina, sasvim slučajno je prikladan. Svojstvo koje je uobičajeno za sva monetarna dobra jest da je njihova kupovna moć viša nego što se može opravdati samo kroz njihovu uporabnu vrijednost. Zaista, mnogi povijesni novci nisu imali uporabnu vrijednost. Razliku između kupovne moći i vrijednosti razmjene koju bi novac mogao imati za svoju inherentnu korisnost, možemo razmatrati kao “monetarnu premiju.” Kako monetarno dobro prolazi kroz stadije monetizacije (navedene gore), monetarna premija raste. No, ta premija ne raste u ravnoj i predvidivoj liniji. Dobro X, koje je bilo u procesu monetizacije, može izgubiti u usporedbi sa dobrom Y koje ima više svojstava novca, te monetarna premija dobra X drastično padne ili potpuno nestane. Monetarna premija srebra je skoro potpuno nestala u kasnom 19. stoljeću, kada su ga vlade diljem svijeta zamijenile zlatom kao novcem.

Čak i u odsustvu vanjskih faktora, kao što su intervencije vlade ili druga monetarna dobra, monetarna premija novog novca neće ići predvidivim putem. Ekonomist Larry White primijetio je:

"problem sa pričom “balona,” naravno, je da je ona konzistentna sa svakim putem cijene, i time ne daje ikakvo objašnjenje za specifičan put cijene"

Proces monetizacije opisuje teorija igara; svaki akter na tržištu pokušava predvidjeti agregiranu potražnju ostalih aktera, i time buduću monetarnu premiju. Zato što je monetarna premija nevezana za inherentnu korisnost, tržišni akteri se uglavnom vode za prošlim cijenama da bi odredili je li neko dobro jeftino ili skupo, i žele li ga kupiti ili prodati. Veza trenutne potražnje sa prošlim cijenama naziva se “ovisnost o putu” (path dependence); ona je možda najveći izvor konfuzije u shvaćanju kretanja cijena monetarnih dobara.

Kada kupovna moć monetarnog dobra naraste zbog većeg i šireg korištenja, očekivanja tržišta o definicijama “jeftinog” i “skupog” se mijenjaju u skladu s time. Slično tome, kada cijena monetarnog dobra padne, očekivanja tržišta mogu se promijeniti u opće vjerovanje da su prethodne cijene bile “iracionalne” ili prenapuhane. Ovisnost o putu novca ilustrirana je riječima poznatog upravitelja fondova s Wall Streeta, Josha Browna:

"Kupio sam bitcoine kada su koštali $2300, i to mi se udvostručilo gotovo odmah. Onda sam počeo govoriti kako “ne mogu kupiti još” dok im je cijena rasla, premda sam znao da je to razmišljanje bazirano samo na cijenu po kojoj sam ih kupio. Kasnije, kada je cijena pala zbog kineske regulacije mjenjačnica, počeo sam si govoriti, “Odlično, nadam se da će još pasti da mogu kupiti još.”"

Istina leži u tome da su ideje “jeftinog” i “skupog” zapravo besmislene kada govorimo o monetarnim dobrima. Cijena monetarnog dobra ne reflektira njegovu stopu rasprostanjenosti ili korisnosti, nego mjeru koliko je ono široko prihvaćeno da ispuni razne uloge novca.

Dodatna komplikacija u ovom aspektu novca je činjenica da tržišni akteri ne djeluju samo kao nepristrani promatrači koji pokušavaju kupiti i prodati u iščekivanju budućih kretanja monetarne premije, nego i kao aktivni proponenti. Pošto ne postoji objektivno “točna” monetarna premija, širiti dobar glas o superiornijim svojstvima nekog monetarnog dobra je efektivnije nego za obična dobra, čija vrijednost je u konačnici vezana na njegovu osnovnu korisnost. Religiozni zanos sudionika na Bitcoin tržištu vidljiv je na raznim internetskim forumima, gdje Bitcoineri aktivno promoviraju benefine Bitcoina i bogatstvo koje je moguće ostvariti investiranjem u njega. Promatrajući Bitcoin tržište, Leigh Drogen komentira:

"To je prepoznatljivo svima kao religija - priča koju si pričamo i oko koje se slažemo. Religija je krivulja na grafu prihvaćanja o kojoj trebamo razmišljati. Sustav je gotovo savršen - onog trenutka kada netko pristupi krugu Bitcoinera, to će reći svima i nastaviti širiti riječ. Onda njihovi prijatelji pristupe i nastave širiti riječ."

Premda usporedba sa religijom može staviti Bitcoin u iracionalno svjetlo, potpuno je racionalno za individualnog vlasnika da širi dobru vijest o superiornom monetarnom dobru, i za šire društvo da se standardizira oko njega. Novac djeluje kao temelj za svu trgovinu i štednju; tako da prihvaćanje superiornog oblika novca ima ogromne multiplicirajuće benefite za stvaranje bogatstva za sve članove društva.

Oblik monetizacije

U članku o Spekulativnom prihvaćanju Bitcoina / teorije cijene, Michael Casey postulira da rastući Gartner hype ciklusi predstavljaju faze standardne S-krivulje prihvaćanja novih tehnologija, koje su bile prisutne kod mnogih transformacijskih tehnologija dok su postajale uobičajene u društvu.

Svaki Gartner hype ciklus počinje sa eksplozijom entuzijazma za novom tehnologijom, a cijenu podižu oni sudionici na tržištvu koji su “dostupni” u toj fazi. Najraniji kupci u Gartner hype ciklusu obično imaju jaku vjeru o transformacijskoj prirodi tehnologije u koju ulažu. S vremenom, tržište dosegne vrhunac entuzijazma kako se količina novih kupaca iscrpljuje, te kupovinom počnu dominirati spekulatori koji su više zainteresirani u brze profite nego u samu tehnologiju.

Nakon vrha hype ciklusa, cijene rapidno padaju dok spekulativno ludilo ustupa mjesto očajavanju, javnoj poruzi i osjećaju da tehnologija nije uopće bila transformacijska. S vremenom, cijena dosegne dno i formira plato na kojem se originalnim ulagačima, koji su imali snažno uvjerenje, pridružuju nove grupe ljudi koji su izdržali bol kraha cijena i koji cijene važnost same tehnologije.

Plato traje neko vrijeme i formira, kako Casey kaže, “stabilnu, dosadnu dolinu.” Za ovo vrijeme, javni interes za tehnologiju opada, no nastaviti će se razvijati i snažna zajednica uvjerenja će polako rasti. Tada, postavlja se nova baza za sljedeću iteraciju hype ciklusa, dok vanjski promatrači prepoznaju da tehnologija i dalje postoji i da ulaganje u nju možda nije onoliko rizično kao što se činilo za vrijeme pada cijene. Sljedeća iteracija hype ciklusa donosi mnogo veći broj novih ljudi, pa je i ciklus daleko veći u svojoj magnitudi.

Jako mali broj ljudi koji sudjeluju u Gartner hype ciklusu će točno predvidjeti koliko će visoko cijena porasti za vrijeme ciklusa. Cijene često dosegnu razine koje bi se činile apsurdnima većini ulagača u raniji stadijima ciklusa. Kada ciklus završi, mediji tipično atribuiraju pad cijene nekoj od aktualnih drušvenih tema. Premda takva tema može biti okidač pada, ona nikad nije temeljni razlog zašto ciklus završava. Gartner hype ciklusi završavaju kada je količina dostupnih novih sudionika na tržištu iscrpljena.

Zanimljivo je da je i zlato nacrtalo klasičan graf Gartner hype ciklusa od kasnih 1970-ih do ranih 2000-ih. Moguće je spekulirati da je hype ciklus osnovna socijalna dinamika oko procesa monetizacije.

Gartner kohorte

Od početka trgovanja Bitcoina na mjenjačnicama 2010. godine, Bitcoin tržište je svjedočilo četirima velikim Gartner hype ciklusima. U retrospektivi, možemo vrlo precizno identificirati grupe cijena prethodnih hype ciklusa Bitcoin tržišta. Također, možemo kvalitativno odrediti kohorte ulagača koje su povezane sa svakom iteracijom prethodnih ciklusa.

$ 0–$ 1 (2009. – 3. mjesec 2011.): Prvi hype ciklus u Bitcoin tržištu dominirali su kriptografi, računalni znanstvenici i cypherpunkovi koji su od početka bili spremni razumijeti važnost nevjerojatnog izuma Satoshija Nakamotoa, i koji su bili pioniri u potvrđivanju da Bitcoin protokol nema tehničkih mana.

$ 1–$ 30 (3. mjesec 2011. – 7. mjesec. 2011.): Drugi ciklus privukao je rane entuzijaste oko novih tehnologija kao i stabilan pritok ideološki motiviranih ulagača koji su bili oduševljeni idejom novca odvojenog od države. Libertarijanci poput Rogera Vera došli su u Bitcoin zbog aktivnog anti-institucionalnog stava, i mogućnosti koju je nova tehnologija obećavala. Wences Casares, briljantni i dobro povezani serijski poduzetnik, bio je također dio drugog Bitcoin hype ciklusa te je širio riječ o Bitcoinu među najprominentnijim tehnolozima i ulagačima u Silicijskoj Dolini.

$ 250–$ 1100 (4. mjesec 2013. – 12. mjesec 2013.): Treći hype ciklus doživio je ulazak ranih generalnih i institucionalnih ulagača koji su bili voljni uložiti trud i riskirati kroz užasno komplicirane kanale likvidnosti kako bi kupili bitcoine. Primaran izvor likvidnosti na tržištu za vrijeme ovog perioda bio je MtGox, mjenjačnica bazirana u Japanu, koju je vodio notorno nesposobni i beskrupulozni Mark Karpeles, koji je kasnije završio i u zatvoru zbog svoje uloge u kolapsu MtGoxa.

Valja primijetiti da je rast Bitcoinove cijene za vrijeme spomenuti hype ciklusa većinom povezano sa povećanjem likvidnosti i lakoćom sa kojom su ulagači mogli kupiti bitcoine. Za vrijeme prvog hype ciklusa, nisu postojale mjenjačnice; akvizicija bitcoina se odvijala primarno kroz rudarenje (mining) ili kroz izravnu razmjenu sa onima koju su već izrudarili bitcoine. Za vrijeme drugog hype ciklusa, pojavile su se rudimentarne mjenjačnice, no nabavljanje i osiguravanje bitcoina na ovim mjenjačnicama bilo je previše kompleksno za sve osim tehnološki najsposobnijih ulagača. Čak i za vrijeme trećeg hype ciklusa, ulagači koju su slali novac na MtGox kako bi kupili bitcoine su morali raditi kroz značajne prepreke. Banke nisu bile voljne imati posla sa mjenjačnicom, a oni posrednici koji su nudili usluge transfera bili su često nesposobni, kriminalni, ili oboje. Nadalje, mnogi koji su uspjeli poslati novac MtGoxu, u konačnici su morali prihvatiti gubitak svojih sredstava kada je mjenjačnica hakirana i kasnije zatvorena.

Tek nakon kolapsa MtGox mjenjačnice i dvogodišnje pauze u tržišnoj cijeni Bitcoina, razvili su se zreli i duboki izvori likvidnosti; primjeri poput reguliranih mjenjačnica kao što su GDAX i OTC brokeri kao Cumberland mining. Dok je četvrti hype ciklus započeo 2016. godine, bilo je relativno lako običnim ulagačima kupiti i osigurati bitcoine.

$ 1100 – $ 19600? (2014. –?):

U trenutku pisanja ovog teksta, tržište Bitcoina je prolazilo svoj četvrti veliki hype ciklus. Sudjelovanje u ovom hype ciklusu dominirala je ona skupina koju je Michael Casey opisao kao “rana većina” običnih i institucionalnih ulagača.

Kako su se izvori likvidnosti produbljivali i sazrijevali, veliki institucionalni ulagači sada imaju priliku sudjelovati kroz regulirana “futures” tržišta. Dostupnosti takvih tržišta stvara put ka kreaciji Bitcoin ETF-a (exchange traded fund) (fond na slobodnom tržištu), koji će onda pokrenuti “kasnu većinu” i “najsporije” u sljedećim hype ciklusima.

Premda je nemoguće predvidjeti točan efekt budućih hype ciklusa, razumno je očekivati da će najviša točka biti između $ 20.000 i $ 50.000 (2021. zenit je bio preko $ 69.000). Znatno više od ovog raspona, i Bitcoin bi imao znatan postotak ukupne vijednosti zlata (zlato i Bitcoin bi imali jednaku tržišnu kapitalizaciju kada bi bitcoini vrijedili oko $ 380.000 u trenutku pisanja ovog teksta). Značajan postotak vrijednosti zlata dolazi od potražnje centralnih banaka, te je malo vjerojatno da će centralne banke ili suverene države sudjelovati u trenutnom hype ciklusu.

Ulazak suverenih država u Bitcoin

Bitcoinov zadnji Gartner hype ciklus će započeti kada ga suverene države počnu akumulirati kao dio svojih rezervi stranih valuta. Tržišna kapitalizacija Bitcoina je trenutno premala da bismo ga smatrali značajnim dodatkom rezervama većini zemalja. No, kako se interes u privatnom sektoru povećava i kapitalizacija Bitcoina se približi trilijunu dolara, postat će dovoljno likvidan za većinu država. Prva država koja službeno doda bitcoine u svoje rezerve će vjerojatno potaknuti stampedo ostalih da učine isto. Države koje su među prvima u usvajanju Bitcoina imat će najviše benefita u svojim knjigama ako Bitcoin u konačnici postane globalna valuta (global reserve currency). Nažalost, vjerojatno će države sa najjačom izvršnom vlasti - diktature poput Sjeverne Koreje - biti najbrže u akumulaciji bitcoina. Neodobravanje prema takvim državama i slaba izvršna tijela zapadnjačkih demokracija uzrokovat će sporost i kašnjenje u akumulaciji bitcoina za njihove vlastite rezerve.

Velika je ironija u tome što je SAD trenutno jedna od regulatorno najotvorenijih nacija prema Bitcoinu, dok su Kina i Rusija najzatvorenije. SAD riskira najviše, geopolitički, ako bi Bitcoin zamijenio dolar kao svjetska rezervna valuta. U 1960-ima, Charles de Gaulle je kritizirao “pretjeranu privilegiju” (“exorbitant privilege”) koju su SAD imale u međunarodnom monetarnom poretku, postavljenom kroz Bretton Woods dogovor 1944. godine. Ruska i kineska vlada još ne shvaćaju geo-strateške benefite Bitcoina kao rezervne valute, te se trenutno brinu o efektima koje bi mogao imati na njihova unutarnja tržišta. Kao de Gaulle u 1960-ima, koji je prijetio SAD-u povratkom na klasični standard zlata, Kinezi i Rusi će s vremenom uvidjeti korist u velikoj poziciji u Bitcoinu - spremištu vrijednosti bez pokrića ijedne vlade. Sa najvećom koncentracijom rudara Bitcoina u Kini (2017.), kineska vlada već ima znatnu potencijalnu prednost u stavljanju bitcoina u svoje rezerve.

SAD se ponosi svojim statusom nacije inovatora, sa Silicijskom dolinom kao krunom svoje ekonomije. Dosad, Silicijska dolina je dominirala konverzacijom usmjerenom prema regulaciji, i poziciji koju bi ona treba zauzeti prema Bitcoinu. No, bankovna industrija i federalna rezerva SAD-a (US Federal Reserve, Fed) napokon počinju uviđati egzistencijalnu prijetnju koju Bitcoin predstavlja za američku monetarnu politiku, postankom globalne rezervne valute. Wall Street Journal, jedan od medijskih glasova federalne reserve, izdao je komentar o Bitcoinu kao prijetnji monetarnoj politici SAD-a:

"Postoji još jedna opasnost, možda i ozbiljnija iz perspektive centralnih banaka i regulatora: bitcoin možda ne propadne. Ako je spekulativni žar u kriptovalutu samo prvi pokazatelj njezinog šireg korištenja kao alternative dolaru, Bitcoin će svakako ugroziti monopol centralnih banaka nad novcem."

U narednim godinama, možemo očekivati veliku borbu između poduzetnika i inovatora u Silicijskoj dolini, koji će pokušavati čuvati Bitcoin od državne kontrole s jedne strane, i bankovne industrije i centralnih banaka koje će učiniti sve što mogu da bi regulirale Bitcoin kako bi spriječile znatne promjene u svojoj industriji i moći izdavanja novca, s druge.

Prijelaz na medij razmjene

Monetarno dobro ne može postati opće prihvaćen medij razmjene (standardna ekonomska definicija za “novac”) prije nego je vrednovano od širokog spektra ljudi; jednostavno, dobro koje nije vrednovano neće biti prihvaćeno u razmjeni. Kroz proces generalnog rasta vrijednosti, i time postanka spremišta vrijednosti, monetarno dobro će brzo narasti u kupovnoj moći, i time stvoriti cijenu za korištenje u razmjeni. Samo kada ta cijena rizika mijenjanja spremišta vrijednosti padne dovoljno nisko, može dobro postati opće prihvaćen medij razmjene.

Preciznije, monetarno dobro će biti prikladno kao medij razmjene samo kada je suma cijene rizika i transakcijske cijene u razmjeni manja nego u trgovini bez tog dobra.

U društvu koje vrši robnu razmjenu, prijelaz spremišta vrijednosti u medij razmjene može se dogoditi čak i onda kada monetarno dobro raste u kupovnoj moći, zato što su transakcijski troškovi robne razmjene iznimno visoki. U razvijenoj ekonomiji, u kojoj su troškovi razmjene niski, moguće je za mladu i rapidno rastućnu tehnologiju spremišta vrijednosti, poput Bitcoina, da se koristi kao medij razmjene, doduše na ograničen način. Jedan primjer je ilegalno tržište droge, gdje su kupci voljni žrtvovati oportunu cijenu čuvanja bitcoina kako bi umanjili znatan rizik kupovine droge koristeći fiat novac.

Postoje međutim velike institucionalne barijere da novonastalo spremište vrijednosti postane sveopće prihvaćen medij razmjene u razvijenom društvu. Države koriste oporezivanje kao moćnu metodu zaštite svojeg suverenog novca protiv rivalskih monetarnih dobara. Ne samo da suvereni novac ima prednost konstantnog izvora potražnje, zato što je porez moguće platiti jedino u njemu, nego su i rivalska monetarna dobra oporezana pri svakoj razmjeni za vrijeme rastuće cijene. Ova metoda oporezivanja stvara znatan otpor korištenju spremišta vrijednosti kao medija razmjene.

Ovakvo sabotiranje tržišnih monetarnih dobara nije nepremostiva barijera za njihovo prihvaćanje kao općeg medija razmjene. Ako ljudi izgube vjeru u suvereni novac, njegova vrijednost može rapidno propasti kroz proces zvan hiperinflacija. Kada suvereni novac prolazi kroz hiperinflaciju, njegova vrijednost propadne prvo u usporedbi sa najlikvidnijim dobrima u društvu, kao što je zlato ili stabilna strana valuta (američki dolar npr.), ako su ona dostupna. Kada nema likvidnih dobara ili ih ima premalo, novac u hiperinflaciji kolabira u usporedbi sa stvarnim dobrima, kao što su nekretnine ili upotrebljiva roba. Arhetipska slika hiperinflacije je trgovina sa praznim policama - potrošači brzo bježe iz propadajuće vrijednosti novca svoje nacije.

Nakon dovoljno vremena, kada je vjera potpuno uništena za vrijeme hiperinflacije, suvereni novac više nitko ne prihvaća, te se društvo može vratiti na robnu razmjenu, ili će doživjeti potpunu zamjenu monetarne jedinice za sredstvo razmjene. Primjer ovog procesa bila je zamjena zimbabveanskog dolara za američki dolar. Takva promjena suverenog novca za stranu valutu je dodatno otežana relativnom oskudnošću strane valute i odsustvom stranih bankarskih institucija koje pružaju likvidnost tržištu.

Sposobnost lakog prenošenja bitcoina preko granica i odsustvo potrebe za bankarskim sustavom čine Bitcoin idealnim monetarnim dobrom za one ljude koji pate pod hiperinflacijom. U nadolazećim godinama, kako fiat valute nastave svoj povijesni trend ka bezvrijednosti, Bitcoin će postati sve popularniji izbor za ušteđevine ljudi diljem svijeta. Kada je novac nacije napušten i zamijenjen Bitcoinom, Bitcoin će napraviti tranziciju iz spremišta vrijednosti u tom društvu u opće prihvaćeno sredstvo razmjene. Daniel Krawicz stvorio je termin “hiperbitcoinizacija” da bi opisao ovaj proces.

Učestala pogrešna shvaćanja

Većina ovog članka usredotočila se na monetarnu prirodu Bitcoina. Sa tim temeljima možemo adresirati neke od najčešćih nerazumijevanja u Bitcoinu.

Bitcoin je balon (bubble)

Bitcoin, kao sva tržišna monetarna dobra, posjeduje monetarnu premiju. Ona često rezultira uobičajenom kritikom da je Bitcoin samo “balon.” No, sva monetarna dobra imaju monetarnu premiju. Naprotiv, ta monetarna premija (cijena viša od one koju diktira potražnja za dobrom kao korisnim) je upravo karakteristična za sve oblike novca. Drugim riječima, novac je uvijek i svuda balon. Paradoksalno, monetarno dobro je istovremeno balon i ispod vrijednosti ukoliko je u ranijim stadijima općeg prihvaćanja kao novac.

Bitcoin je previše volatilan

Volatilnost cijene Bitcoina je funkcija njegovog nedavnog nastanka. U prvih nekoliko godina svojeg postojanja, Bitcoin se ponašao kao mala dionica, i svaki veliki kupac - kao npr. braća Winklevoss - mogao je uzrokovati veliki skok u njegovoj cijeni. No, kako su se prihvaćenost i likvidnost povećavali kroz godine, volatilnost Bitcoina je srazmjerno smanjila. Kada Bitcoin postigne tržišnu kapitalizaciju (vrijednost) zlata, imat će sličnu volatilnost kao i zlato. Kako Bitcoin nastavi rasti, njegova volatilnost će se smanjiti do razine koja ga čini prikladnim za široko korištenje kao medij razmjene. Kao što je prethodno rečeno, monetizacija Bitcoina se odvija u seriji Gartner hype ciklusa. Volatilnost je najniža za vrijeme vrhunaca i dolina unutar ciklusa. Svaki hype ciklus ima nižu volatilnost od prethodnih, zato što je likvidnost tržišta veća.

Cijene transakcija su previsoke

Novija kritika Bitcoin mreže je ta da ju je povećanje cijena prijenosa bitcoina učinilo neprikladnom za sustav plaćanja. No, rast u cijenama transakcija je zdrav i očekivan. One su nužne za plaćanje bitcoin minera (rudara), koji osiguravaju mrežu validacijom transakcija. Rudare se plaća kroz cijene transakcija ili kroz blok-nagrade, koje su inflacijska subvencija od trane trenutnih vlasnika bitcoina.

S obzirom na Bitcoinovu fiksnu proizvodnju (monetarna politika koja ga čini idealnim za spremanje vrijednosti), blok-nagrade će s vremenom nestati i mrežu će se u konačnici morati osiguravati kroz cijene transakcija. Mreža sa “niskim” cijenama transakcija je mreža sa slabom sigurnosti i osjetljiva na vanjsku intervenciju i cenzuru. Oni koji hvale niske cijene Bitcoinovih alternative zapravo niti ne znajući opisuju slabosti tih takozvanih “alt-coina.”

Površan temelj kritika Bitcoinovih “visokih” cijena transakcija je uvjerenje da bi Bitcoin trebao biti prvo sustav plaćanja, i drugo spremište vrijednosti. Kao što smo vidjeli kroz povijest novca, ovo uvjerenje je naopako. Samo onda kada Bitcoin postane duboko ukorijenjeno spremište novca može biti prikladan kao sredstvo razmjene. Nadalje, kada oportunitetni trošak razmjene bitcoina dođe na razinu koja ga čini prikladnim sredstvom razmjene, većina trgovine neće se odvijati na samoj Bitcoin mreži, nego na mrežama “drugog sloja” (second layer) koje će imati niže cijene transakcija. Takve mreže, poput Lightning mreže, služe kao moderna verzija zadužnica koje su korištene za prijenos vlasničkih papira zlata u 19. stoljeću. Banke su koristile zadužnice zato što je prijenos samog metala bio daleko skuplji. Za razliku od takvih zadužnica, Lightning mreža će omogućavati nisku cijenu prijenosa bitcoina bez potrebe za povjerenjem prema trećoj strani, poput banaka. Razvoj Lightning mreže je tehnološka inovacija od izuzetne važnosti u povijesti Bitcoina, i njezina vrijednost će postati očita u narednim godinama, kako je sve više ljudi bude razvijalo i koristilo.

Konkurencija

Pošto je Bitcoin softverski protokol otvorenog tipa (open-source), oduvijek je bilo moguće kopirati softver i imitirati mrežu. Kroz godine nastajali su mnogi imitatori, od identičnih kopija, kao Litecoin, do kompleksnijih varijanti kao što je Ethereum, koje obećavaju arbitrarno kompleksne ugovorne mehanizme koristeći decentralizirani računalni sustav. Česta kritika Bitcoinu od strane ulagača je ta da on ne može zadržati svoju vrijednost kada je vrlo lako stvoriti konkurente koji mogu lako i brzo u sebi imati najnovije inovacije i softverske funkcionalnosti.

Greška u ovom argumentu leži u manju takozvanog “mrežnog efekta” (network effect), koji postoji u prvoj i dominantnoj tehnologiji u nekom području. Mrežni efekt - velika vrijednost korištenja Bitcoina samo zato što je već dominantan - je važno svojstvo samo po sebi. Za svaku tehnologiju koja posjeduje mrežni efekt, to je daleko najvažnije svojstvo koje može imati.

Za Bitcoin, mrežni efekt uključuje likvidnost njegovog tržišta, broj ljudi koji ga posjeduju, i zajednicu programera koji održavaju i unaprjeđuju njegov softver i svjesnost u javnosti. Veliki ulagači, uključujući države, će uvijek prvo tražiti najlikvidnije tržište, kako bi mogli ući i izaći iz tržišta brzo, i bez utjecanja na cijenu. Programeri će se pridružiti dominantnoj programerskoj zajednici sa najboljim talentom, i time pojačati samu zajednicu. Svjesnost o brendu sama sebe pojačava, pošto se nadobudni konkurenti Bitcoina uvijek spominju u kontekstu Bitcoina kao takvog.

Raskrižje na putu (fork)

Trend koji je postao popularan 2017. godine nije bio samo imitacija Bitcoinovog softvera, nego kopiranje potpune povijesti njegovih prošlih transakcija (cijeli blockchain). Kopiranjem Bitcoinovog blockchaina do određene točke/bloka i odvajanjem sljedećih blokova ka novoj mreži, u procesu znanom kao “forking” (odvajanje), Bitcoinovi konkurenti su uspjeli riješiti problem distribuiranja svojeg tokena velikom broju korisnika.

Najznačajniji takav fork dogodio se 1. 8. 2017. godine, kada je nova mreža nazvana Bitcoin Cash (Bcash) stvorena. Vlasnik N količine bitcoina prije 1.8.2017. bi onda posjedovao N bitcoina i N BCash tokena. Mala, ali vrlo glasna zajednica Bcash proponenata je neumorno pokušavala prisvojiti Bitcoinov brend i ime, imenujući svoju novu mrežu Bitcoin Cast i pokušavajući uvjeriti nove pridošlice u Bitcoin da je Bcash “pravi” Bitcoin. Ti pokušaji su većinom propali, i taj neuspjeh se vidi u tržišnim kapitalizacijama dviju mreža. No, za nove ulagače, i dalje postoji rizik da bi konkurent mogao kopirati Bitcoin i njegov blockchain i tako uspjeti u preuzimanju tržišne kapitalizacije, te postati de facto Bitcoin.

Moguće je uočiti važno pravilo gledajući velike forkove u prošlosti Bitcoin i Ethereum mreža. Većina tržišne kapitalizacije odvijat će se na mreži koja zadrži najviši stupanj talenta i aktivnosti u zajednici programera. Premda se na Bitcoin može gledati kao na nov i mlad novac, on je također računalna mreža koja počiva na softveru, kojeg se pak treba održavati i poboljšavati. Kupovina tokena na mreži koja ima malo neiskusnih programera bilo bi kao kupovati kopiju Microsoft Windowsa na kojoj rade lošiji programeri. Jasno je vidljivo iz povijesti forkova koji su se odvili 2017. godine da su najbolji računalni i kriptografski stručnjaci posvećeni razvoju originalnog Bitcoina, a ne nekoj od rastućeg broja imitacija koje su se izrodile iz njega.

Stvarni rizici

Premda su uobičajene kritike upućene Bitconu od strane medija i ekonomske profesije krive i bazirane na netočnom shvaćanju novca, postoje pravi i značajni rizici kod ulaganja u Bitcoin. Bilo bi mudro za novog Bitcoin ulagača da shvati ove rizike prije potencijalnog ulaganja.

Rizik protokola

Bitcoin protokol i kriptografski sastavni dijelovi na kojima je sagrađen potencijalno imaju dosad nepronađenu grešku u svom dizajnu, ili mogu postati nesigurni razvojem kvantnih računala. Ako se pronađe greška u protokolu, ili neka nova metoda računarstva učini mogućim probijanje kriptografskih temelja Bitcoina, vjera u Bitcoin biti će znatno narušena. Rizik protokola bio je najviši u ranim godinama razvoja Bitcoina, kada je još uvijek bilo nejasno, čak i iskusnim kriptografima, je li Satoshi Nakamoto zaista riješio problem bizantskih generala (Byzantine Generals’ Problem). Brige oko ozbiljnih grešaka u Bitcoin protokolu nestale su kroz godine, no uzevši u obzir njegovu tehnološku prirodu, rizik protokola će uvijek ostati u Bitcoinu, makar i kao izuzetak.

Propadanje mjenjačnica

Time što je decentraliziran, Bitcoin je pokazao značajnu otpornost, suočen sa brojnim pokušajima raznih vlada da ga reguliraju ili unište. No, mjenjačnice koje trguju bitcoinima za fiat valute su centralizirani entiteti i podložne regulacijama i zatvaranju. Bez mjenjačnica i volje bankara da s njima posluju, proces monetizacije Bitcoina bio bi ozbiljno usporen, ako ne i potpuno zaustavljen. Iako postoje alternativni izvori likvidnosti za Bitcoin, poput “over-the-counter” brokera i decentraliziranih tržišta za kupovinu i prodaju bitcoina, kritičan proces otkrivanja i definiranja cijene se odvija na najlikvidnijim mjenjačnicama, koje su sve centralizirane.

Jedan od načina za umanjivanje rizika gašenja mjenjačnica je geografska arbitraža. Binance, jedna od velikih mjenjačnica iz Kine, preselila se u Japan nakon što joj je kineska vlada zabranila operiranje u Kini. Vlade su također oprezne kako ne bi ugušile novu industriju koja je potencijalno značajna kao i internet, i time predale nevjerojatnu konkurentnu vrijednost drugim nacijama.

Samo kroz koordinirano globalno ukidanje Bitcoin mjenjačnica bi proces monetizacije mogao biti zaustavljen. Trenutno smo u utrci; Bitcoin raste i postaje sve rašireniji, i doći će do trenutka kada bi potpuno ukidanje mjenjačnica postalo politički neizvedivo - kao i gašenje interneta. Mogućnost takvog ukidanja je još uvijek realna, i valja je uzeti u obzir pri ulaganju u Bitcoin. Kao što je gore objašnjeno, suverene vlade se polako bude i uviđaju prijetnju koju predstavlja neovisna digitalna valuta otporna na cenzuru, za njihovu monetarnu politiku. Otvoreno je pitanje hoće li išta poduzeti da odgovore ovoj prijetnji prije nego Bitcoin postane toliko utvrđen i raširen da politička akcija postane nemoćna i ne-efektivna.

Zamjenjivost

Otvorena i transparentna priroda Bitcoin blockchaina omogućava državama da proglase specifične bitcoine “okaljanima” zbog njihovog korištenja u određenim aktivnostima. Premda Bitcoin, na protokolarnoj razini, ne diskriminira transakcije na ikoji način, “okaljani” bitcoini bi mogli postati bezvrijedni ako bi ih regulacije proglasile ilegalnima i neprihvatljivima za mjenjačnice ili trgovce. Bitcoin bi tada izgubio jedno od kritičnih svojstava monetarnog dobra: zamjenjivost.

Da bi se ovaj problem riješio i umanjio, biti će potrebna poboljšanja na razini protokola kako bi se poboljšala privatnost transakcija. Premda postoji napredak u ovom smjeru, prvi put primjenjen u digitalnim valutama kao što su Monero i Zcash, potrebno je napraviti značajne tehnološke kompromise između efikasnosti i kompleksnosti Bitcoina i njegove privatnosti. Pitanje ostaje otvoreno je li moguće dodati nova svojstva privatnosti na Bitcoin, na način koji neće kompromitirati njegovu korisnost kao novca.

Zaključak

Bitcoin je novonastali novac koji je u procesu transformacije iz sakupljačkog dobra u spremište vrijednosti. Kao neovisno monetarno dobro, moguće je da će u budućnosti postati globalan novac, slično kao zlato za vrijeme 19. stoljeća. Prihvaćanje Bitcoina kao globalnog novca je upravo taj optimističan scenarij za Bitcoin, kojeg je artikulirao Satoshi Nakamoto još 2010. godine u email razmjeni sa Mikeom Hearnom:

"Ako zamisliš da se koristi u nekom dijelu svjetske trgovine, i da će postojati samo 21 milijun bitcoina za cijeli svijet, vrijednost po jedinici će biti znatno veća".

Ovaj scenarij je još snažnije definirao briljantni kriptograf Hal Finney, koji je ujedno primio i prve bitcoine od Nakamotoa, ubrzo nakon najave prvog funkcionalnog Bitcoin softvera:

"Zamislimo da Bitcoin bude uspješan i postane dominantan sustav plaćanja diljem svijeta. U tom slučaju će ukupna vrijednost valute biti jednaka ukupnoj vrijednosti svog bogatstva svijeta. Današnje procjene ukupnog svjetskog bogatska kućanstava koje sam pronašao borave negdje između 100 i 300 trilijuna dolara. Sa 20 milijuna bitcoina, svaki bi onda vrijedio oko 10 milijuna dolara."

Čak i da Bitcoin ne postane u cijelost globalan novac, nego da se samo natječe sa zlatom kao neovisno spremište vrijednosti, i dalje je masivno podcijenjen. Mapiranje tržišne kapitalizacije postojeće količine izrudarenog zlata (oko 8 trilijuna dolara) na maksimalnu dostupnost Bitcoina od 21 milijun, daje vrijednost od otprilike 380,000 dolara po bitcoinu. Kao što smo vidjeli u prethodnom tekstu, svojstva koja omogućavaju monetarnom dobru da bude prikladno spremište vrijednosti, čine Bitcoin superiornijim zlatu u svakom pogledu osim trajanja povijesti. No, kako vrijeme prolazi i Lindy efekt postane jači, dosadašnja povijest će prestati biti prednost zlata. Samim time, nije nerazumno očekivati da će Bitcoin narasti do, a možda i preko, ukupne cijene zlata na tržištvu do 2030. Opaska ovoj tezi je činjenica da veliki postotak vrijednosti zlata dolazi od toga što ga centralne banke čuvaju kao spremište vrijednosti. Da bi Bitcoin došao do te razine, određena količina suverenih država će trebati sudjelovati. Hoće li zapadnjačke demokracije sudjelovati u vlasništvu Bitcoina je nepoznato. Vjerojatnije je, nažalost, da će prve nacije u Bitcoin tržištu biti sitne diktature i kleptokracije.

Ako niti jedna država ne bude sudjelovala u Bitcoin tržištu, optimistična teza i dalje postoji. Kao nevisno spremište vrijednosti u rukama individualnih i institucionalnih ulagača, Bitcoin je i dalje vrlo rano u svojoj “krivulji prihvaćenosti” (adoption curve); tzv. “rana većina” ulaze na tržište sada, dok će ostali ući tek nekoliko godina kasnije. Sa širim sudjelovanjem individualnih i institucionalnih ulagača, cijena po bitcoinu između 100,000 i 200,000 dolara je sasvim moguća.

Posjedovanje bitcoina je jedna od malobrojnih asimetričnih novčanih strategija dostupnih svakome na svijetu. Poput “call” opcija, negativan rizik ulagača je ograničen na 1x, dok potencijalna dobit i dalje iznosi 100x ili više. Bitcoin je prvi istinski globalan balon čija je veličina ograničena samo potražnjom i željom građana svijeta da zaštite svoju ušteđevinu od raznovrsnih ekonomskih malverzacija vlade. Bitcoin je ustao kao feniks iz pepela globalne financijske krize 2008. godine - katastrofe kojoj su prethodile odluke centralnih banaka poput američke Federalne rezerve (Federal Reserve).

Onkraj samo financijske teze za Bitcoin, njegov rast i uspjeh kao neovisno spremište vrijednosti imat će duboke geopolitičke posljedice. Globalna, ne-inflacijska valuta će prisiliti suverene države da promjene svoje primarne mehanizme financiranja od inflacije u izravno oporezivanje; koje je daleko manje politički popularno. Države će se smanjivati proporcionalno političkoj boli koju im nanese oporezivanje kao jedini način financiranja. Nadalje, globalna trgovina vršiti će se na način koji zadovoljava aspiraciju Charlesa de Gaullea, da nijedna nacija ne bi smjela imati privilegiju nad ikojom drugom:

"Smatramo da je potrebno da se uspostavi međunarodna trgovina, kao što je bio slučaj prije velikih nesreća koje su zadesile svijet, na neosporivoj monetarnoj bazi, koja ne nosi na sebi oznaku ijedne države."

Za 50 godina, ta monetarna baza biti će Bitcoin.

@ 26d4b5b2:96393e73

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@ 5d4b6c8d:8a1c1ee3

After exclusively talking about NFL draft and NBA playoffs last week, we have a lot of ground to make up.

The race for second place in the T20k cricket contest is heating up, but @Coinsreporter has a very commanding hold on 1st. I similarly have a stranglehold on last place in the CricZap contest and, not to brag, I just broke @grayruby's impressive mark for worst single month performance.

We're down to the final two survivors in the UEFA Survivor Pool. C'mon @TNStacker, we're all pulling for you.

The US continues to dominate the rest of the world... in our US vs the world contest.

Our MLB fantasy league (courtesy of @NEEDcreations) is a lot of fun, with tons of daily roster moves and movement in the standings. We should also finally have time for @grayruby to rant about how the American League is the suckiest bunch of sucks who ever sucked (where's that from?).

We do have more playoff basketball to cover. The games this week have been spectacular and we have second round series to start talking about. Shoutout to @WeAreAllSatoshi for hosting discussion threads. I'll get some posts up later summarizing how the bracket challenge is going and taking second round picks in the playoff points challenge.

NHL playoffs are also underway and we've barely talked about them, yet. What are the interesting storylines of round 1? How's the bracket challenge going?

And, of course, we'll talk about our favorite Predyx sports markets.

What else do stackers want to talk about?

originally posted at https://stacker.news/items/969413

@ 1d7ff02a:d042b5be

ผมได้ติดตามการแบนการซื้อขายแบบ P2P ของ Binance ในประเทศไทยมาระยะหนึ่งแล้ว จากสถานการณ์ดังกล่าว เห็นได้อย่างชัดเจนว่ารัฐบาลกำลังเริ่มโจมตี Bitcoin ก่อนที่เราจะบรรลุถึง Bitcoin Standard เราจำเป็นต้องมีความเป็นส่วนตัวและอิสระทางการเงิน ซึ่งการซื้อขายแบบ P2P มีความสำคัญมากในการบรรลุเป้าหมายนี้

ความสำคัญของ No-KYC P2P

No-KYC P2P คือหัวใจสำคัญ - เราจำเป็นต้องมีแพลตฟอร์มที่เป็นทางรอด เราไม่สามารถเชื่อใจแพลตฟอร์มแบบรวมศูนย์ได้เนื่องจากสาเหตุสองประการ: 1. ความเสี่ยงจากการถูกโกงโดยแพลตฟอร์มเอง (rug pull) 2. การถูกควบคุมจากภาครัฐ

แพลตฟอร์ม No-KYC P2P ที่แนะนำ

ผมอยากเสนอให้นักพัฒนาและชุมชน Bitcoin ไทย พิจารณาการศึกษาและพัฒนาแพลตฟอร์ม No-KYC P2P ปัจจุบันมีหลายทางเลือกที่มีอยู่แล้ว เช่น:

• Bisq
• RoboSats
• Mostro
• HodlHodl
• Lnp2pbot

เหตุผลที่แนะนำ Lnp2pbot

ผมขอแนะนำให้นำใช้หรือพัฒนาต่อจาก Lnp2pbot เนื่องจากข้อดีหลายประการ:

1. ประสบการณ์ผู้ใช้ (UX) ที่ดีกว่า - เมื่อเทียบกับแพลตฟอร์มอื่นๆ
2. ใช้ Telegram เป็นพื้นฐาน - มีระบบ Escrow (บุคคลที่สามที่ถือเงินระหว่างการทำธุรกรรม) ซึ่งเพิ่มความมั่นใจและลดโอกาสการถูกโกง
3. ลดการรวมศูนย์ - ไม่จำเป็นต้องพัฒนาแอปและส่งขึ้นสโตร์ ซึ่งจะทำให้นักพัฒนาต้องเปิดเผยตัวตนและกลายเป็นจุดอ่อนให้รัฐบาลควบคุม
4. สร้างชุมชนได้ง่าย - ทุกคนสามารถสร้างกลุ่มหรือชุมชนเพื่อการซื้อขายได้ ทำให้ตลาดพัฒนากลุ่มที่น่าเชื่อถือตามกลไกตลาดเสรี
5. ใช้งานจริงในหลายประเทศแล้ว - ปัจจุบันมีหลายประเทศที่นำ Lnp2pbot ไปใช้งานจริงแล้ว แสดงให้เห็นถึงความเสถียรและความเชื่อถือได้ของระบบ

บทบาทของนักพัฒนาไทย

Lnp2pbot อาจยังมีข้อจำกัดด้าน UX โดยเฉพาะสำหรับผู้ใช้ท้องถิ่น นักพัฒนาไทยสามารถนำเอาซอฟต์แวร์มาพัฒนาต่อและดำเนินการเองได้ เนื่องจากเป็นโอเพนซอร์สอยู่แล้ว

สิ่งสำคัญที่สุดคือการรักษาให้ซอฟต์แวร์เป็นโอเพนซอร์สและให้ทุกคนสามารถนำไปใช้หรือทำให้มันทำงานได้ด้วยตนเอง วิธีการนี้จะหลีกเลี่ยงการมีจุดรวมศูนย์ที่รัฐบาลสามารถโจมตีได้

@ 20986fb8:cdac21b3

传统黑客松：闪耀火花中的局限

过去几十年里，黑客松一直是技术文化的培养皿——24小时或48小时的狂热编程马拉松，在披萨、咖啡因和几近不可能的乐观情绪中推进。

自1999年Sun Microsystems首次举办黑客松，要求Java开发者在Palm V掌上电脑上完成一日编程，到创业公司和大学里通宵达旦的“黑客日”[1]，这些活动始终在庆祝黑客精神。它们为我们带来了Facebook的“点赞”按钮和聊天功能——这些标志性的创新[1]，皆诞生于一夜之间的即兴狂想。

它们也催生了如GroupMe这样的公司——这个应用仅用了几个深夜时段就完成开发，一年后就被Skype以8000万美元收购[2]。

黑客松逐渐成为技术界的传说，成为“无拘束创造力”的代名词。然而，尽管充满激情和炒作，传统黑客松却存在着严重的局限：它们是偶发、线下的活动——更像是“蓝月亮”才出现一次的肾上腺素爆发，而不是一种可持续的创新流程。

一次黑客松也许能在周末召集100名程序员共聚一室，但活动结束后便销声匿迹，直到下一年。

频率低、规模小、触达有限。只有能亲临现场的人（往往是硅谷或精英高校）才有机会参与。哪怕你是来自拉各斯或圣保罗的天才黑客，只要身处远方，你的绝妙创意也注定被忽视。

这类冲刺式活动的成果也极为受限。

当然，团队可能构建出炫酷的演示项目，并赢得一时风头。但大多数情况下，这些项目只是一次性原型——“玩具”应用，最终并未发展为真正的产品或公司。有研究表明，只有约5%的黑客松项目在活动结束几个月后还有任何生命迹象[3]。

其余95%则如烟云般消散——在“黑客松宿醉”中夭折：人们回到“正职”，而演示代码也蒙尘。

批评者甚至给黑客松取了个贬义的别名：“周末虚耗松”（weekend wastedathons），抨击其成果如同短命的“蒸汽软件”（vaporware）[3]。

想想看：一阵创造力的爆发，数十个点子竞相绽放……然后呢？

你能说出几个真正从黑客松走出的成功企业名字？对于每一个如Carousell或EasyTaxi那样从黑客松中诞生、后来成功融资数千万美元的项目，就有几百个聪明的创意组合永远不见天日[2]。

传统黑客松模式，尽管令人兴奋，却极少能转化为持续的创新。

它更像是被时间、地域和后续缺失所束缚的孤岛式创新。黑客松是事件，不是流程；它是烟花，不是日出。

此外，黑客松在历史上一直颇为封闭。

直到近年，它们主要由技术圈内人士自办自娱。大型科技公司会举办内部黑客松，以激发员工创造力（Facebook每几周举办一次通宵活动，最终诞生了时间线和标记功能，影响了十亿用户 [1]）；NASA和世界银行也曾尝试用黑客松推进公民科技。但这些都是例外，印证了一个普遍规律：黑客松从来不是常规工作流程，而是特例事件。

在科技巨头之外，鲜有组织具备资源或经验能频繁举办黑客松。

除非你是Google、Microsoft，或资金雄厚的创业孵化器，否则黑客松只是一场偶尔奢侈的尝试。事实上，当今世界上最大的黑客松是微软的内部全球黑客松——有多达70,000名员工跨越75个国家同时参与，这是壮观的成就，但唯有企业巨头才能负担得起[4]。

而中小型玩家只能仰望、惊叹。

限制显而易见：黑客松太少见、太封闭，无法真正激活全球人才库；周期太短，难以构建成熟产品；过于孤立，无法真正撼动行业。

没错，它们确实产生过惊艳的灵感时刻——创新的闪光灯。

但若视其为持续进步的机制，传统黑客松则显得捉襟见肘。作为投资者或科技领袖，你或许会为创造力鼓掌，但仍会追问：真正的长期影响在哪里？有谁搭建了把这些火花转化为持续光束的基础设施？

正如克莱顿·克里斯滕森的《创新者的窘境》所言，传统巨头往往将黑客松项目视作“玩具”——有趣但不切实际。

而事实上，“每一个未来的大事物，起初总是被当作玩具”。黑客松的确催生了不少“玩具”，却极少能拥有支持系统去把它们变为下一个伟大的事物。

这个模式，是时候被重新发明了。

为何到了2020年代，我们还在用1990年代的创新方式？为何将突破性的想法限制在一个周末或一个地点？为何允许95%的早期创新无声凋谢？

这些问题，悬而未解，等待着回答。

Hackathons 2.0 ——DoraHacks与黑客松的第一次进化（2020–2024）

DoraHacks登场。

在2020年代初，DoraHacks如同一台“心脏除颤器”，令黑客松这种形式重获新生。DoraHacks 1.0（大致始于2020年、延续至2024年）并非对黑客松的微调，而是对其彻底的重塑：将传统黑客松从1.0升级到2.0。它汲取原有理念，加速、扩展并升级至全维度，全方位放大其影响力。结果是一场全球黑客运动的兴起，一个将黑客松从“一锤子买卖”变为持续技术创新引擎的平台。

DoraHacks如何革命性地重构黑客松？请看以下几个维度：

从24小时到24天（甚至24周）——时间轴的重构

DoraHacks拉长了黑客松的时间框架，解锁了远超以往的创新潜能。

相比于传统那种紧张焦躁的24小时冲刺，DoraHacks支持的黑客松往往持续数周甚至数月——这是一场范式转变。

团队终于有了足够时间去打磨原型、迭代优化、反复精炼。更长的周期意味着项目能从粗糙演示走向成熟MVP。黑客们终于可以“偶尔睡觉”，引入用户反馈，将灵感的火花铸造成实用的成果。

时间的延展模糊了黑客松与加速器之间的界限，但保留了黑客松自由、开放的精神。例如，DoraHacks为区块链初创团队组织的黑客松通常持续6到8周，最终成果往往能吸引真实用户与投资人。

延长的时间，把“玩具”变成了产品。就像黑客松终于“长大成人”：Less Hack, More BUIDL（少些临时拼凑，多些踏实构建）。打破24小时范式之后，黑客松真正变得更高效、更深远、更具生产力。

从街角咖啡馆到全球虚拟竞技场——地理限制的打破

DoraHacks将黑客松从线下搬到云端，释放出全球参与的可能性。

2020年之前，黑客松意味着必须到现场——可能是旧金山某仓库，或是大学实验室，与本地队友并肩作战。而DoraHacks颠覆了这一格局：任何人、任何地方，只要连上网络，就可以参与。

一位尼日利亚的开发者、乌克兰的设计师、巴西的产品经理，如今可以在同一场线上黑客松中协作创新。地理边界不复存在。

当DoraHacks举办面向非洲区块链开发者的Naija HackAtom时，吸引了来自尼日利亚科技社群的500多名参与者（包括160多位开发者，odaily.news）。在另一场活动中，来自数十个国家的黑客同时在线参与、构思、竞争 [6]。

这种全球性拓展不仅增加了参与人数，更引入了多样的视角和本地问题。一个金融科技黑客松中，可能有拉美开发者解决汇款问题；一个AI黑客松中，亚洲或非洲开发者将机器学习应用于本地医疗。

线上化，让黑客松变得真正普惠。DoraHacks有效地民主化了创新的入场门槛——你只需要一根网线和一颗创作的心。

结果是：创意的数量与质量实现量子飞跃。 黑客松不再是精英小圈子的游戏，而是一场面向全人类的全球创新嘉年华。

从几十人到数万人——规模的跃迁

DoraHacks推动的另一项革命，就是规模的扩展。传统黑客松人少而亲密（几十人，顶多几百）。DoraHacks则催生了成千上万人参与、数百万美元奖金池的大型活动。

例如，在2021年的一场线上黑客松中，近7000名参与者提交了550个项目，争夺500万美元奖金。这是2010年代初期根本无法想象的规模[7]。

DoraHacks本身也成为这些“超级黑客松”的中枢。平台在Web3领域所举办的黑客松常常吸引数百支队伍参赛，奖金高达数百万美元。

这不只是好看的数据，而是更广泛的全球人才投入，也带来了更高概率的真正突破性成果。

以BNB Chain支持的黑客松系列为例，在DoraHacks推动下，有216支开发团队获得了超过1000万美元的资金支持[8]——是的，真金白银的种子投资。这哪是黑客松？简直就是一个小型经济体。

奖池也从“披萨钱”膨胀成“起步资本”，吸引那些有抱负、懂商业的创业者参与。越来越多的项目不再只是周末练习，而是具备融资能力的初创企业。黑客松，也由“科技科学展”升格为“全球创业发射台”。

从玩具项目到真公司（甚至独角兽）——成果的飞跃

最令人振奋的一点是：DoraHacks所孵化的项目，不只是应用，更是真正的公司。其中一些甚至成长为独角兽（估值超过10亿美元的公司）。

我们之前提到过2020年之前为数不多的成功案例，比如Carousell（一个在2012年黑客松上诞生的小点子，如今已成为估值11亿美元的二手市场[2]），或EasyTaxi（始于黑客松，后融资7500万美元、覆盖30个国家[2]）。

DoraHacks让这种奇迹频繁上演。通过更长的周期、更多的支持、更好的资金接力，黑客松逐渐成为真正的“创新孵化器”。

以1inch Network为例——它是一家去中心化金融聚合平台，起初就是在2019年一个黑客松中诞生的。创始人Sergej Kunz和Anton Bukov在社区支持下完成了最初的原型，随后持续迭代。

如今，1inch的累计交易额已超4000亿美元，成为DeFi领域的头部平台之一 [9]。

再看DoraHacks Web3黑客松中的优胜者，许多项目已经完成了数百万美元的融资，获得顶级VC支持。

黑客松成为了“创业世界的前门”，创始人往往在此首次亮相。比如Solana Season Hackathons中的热门项目STEPN —— 一个“边走边赚”应用，于2021年赢得黑客松奖项，不久后就成长为拥有数十亿美元代币经济的现象级产品[10]。

这不是孤立事件，而是DoraHacks设定的系统性趋势。它的黑客松正在源源不断地产出可投、可用、可落地的创业项目。

某种意义上，DoraHacks模糊了黑客松与早期孵化器的界限。玩乐的黑客精神依然在，但结果已不只是炫耀——而是真实存在的公司，有用户，有营收，有估值。

借用投资人Chris Dixon的话说：DoraHacks把那些“玩具”，扶育成了下一个伟大的事物[5]。

DoraHacks不仅优化了旧模式，它创造了一个全新的创新生态

DoraHacks主导的第一次黑客松进化，不只是“修补优化”，而是打造了一个全新的创新系统。

黑客松变得高频、全球化、具决定性影响。

它不再是短暂的周末狂欢，而是持续的创新供给链。

DoraHacks平台每年孵化出上百个可行项目，其中很多都获得后续融资。它不仅提供活动本身，更提供“术后护理”：社区支持、导师指导、连接投资人与资助渠道（如DoraHacks的资助计划和二次方资助机制）。 到2024年，成果不言自明。DoraHacks已成长为全球最重要的黑客松平台——一个贯通区块链、AI乃至更多前沿科技的黑客运动中枢。

数据不会说谎。

9年间，DoraHacks帮助4000多个项目获得超过3000万美元资金（coindesk.com）[11]；到2025年，这一数字飙升，DoraHacks支持的黑客松和资助总计为超过21000个初创团队提供了逾8000万美元资金（linkedin.com）[12]。

这不是夸张宣传——而是写入技术史的事实。CoinDesk评价道：“DoraHacks已成为全球最活跃的多链Web3开发平台与黑客松组织者之一。”（coindesk.com）[13]

主流技术生态纷纷注意到这一趋势。

超过40个公链（包括L1与L2）——从Solana到Polygon再到Avalanche——皆与DoraHacks合作，组织黑客松与开放创新计划（blockworks.co）[13]。

Blockworks 报道称，DoraHacks已成为数十个Web3生态系统的“核心合作伙伴”，帮助他们连接全球开发者资源（blockworks.co）[11]。

在投资人眼中，DoraHacks本身就是关键基础设施：“DoraHacks对Web3基础设施建设至关重要。”一位支持平台的VC如此指出（blockworks.co）[13]。

简而言之：到2024年，DoraHacks已将黑客松从一个小众事件变为全球创新引擎。

它证明：只要规模足够、流程健全，黑客松可以持续地产出真实、可投、可商业化的创新。

它连接开发者与资源，把“孤岛式创新”变成一场全球开发者的常青运动。

这就是Hackathons 2.0：更大、更久、更无界，也远比以往更具颠覆性。

也许你会问：还能比这更好吗？

DoraHacks似乎已经破解了“如何让黑客创造力产生持久影响”的密码。

但这并不是终点。事实上，DoraHacks团队即将揭示的，是一场更加激进的革命。

如果说DoraHacks 1.0是“进化”，那接下来将是一次范式转移的“革命”。

Agentic Hackathon：BUIDL AI与第二次黑客松革命

2024年，DoraHacks推出了BUIDL AI，并由此提出了“Agentic Hackathon（自主智能黑客松）”的概念。

如果说最初的黑客松像是模拟电话，DoraHacks 1.0则使其进化为智能手机，那么BUIDL AI的出现，就像为黑客松安装上了AI副驾驶——进入自动驾驶模式。

这不仅是渐进式的提升，而是一场彻底的第二次革命。

BUIDL AI为黑客松注入了人工智能、自动化与“智能代理”能力（Agentic），根本性地改变了黑客松的组织方式与体验路径。

我们正迈入“自主智能创新时代（Age of Agentic Innovation）”，在这个时代中，借助AI代理运行的黑客松可以以前所未有的频率、高效与智慧展开。

那么，究竟什么是Agentic Hackathon？

它是一种由AI代理全面增强的黑客松，从策划、评审到参与者支持都涵盖在内，使得创新的速度与规模达到前所未有的高度。

在Agentic Hackathon中，AI是那位永不疲倦的共同组织者，与人类并肩工作。 过去那些压垮组织者的繁琐流程，如今交由智能算法完成。你可以想象——黑客松几乎在自动运行，如同一场永不停歇的“点子锦标赛”。

借助BUIDL AI，DoraHacks实现了“自驾黑客松”：自主、高效、全天候运行，且可在多个领域同时并行。 这并非科幻小说，而是正在发生的现实。我们来看BUIDL AI是如何运作的，以及它如何将黑客松效率提升十倍以上：

AI驱动的评审与项目筛选：效率提升10倍以上

大型黑客松中最耗时的环节之一就是评审数百个项目提交。传统做法常常需要组织者耗费数周精力，才能从中筛选出有潜力的项目。

BUIDL AI彻底改变了这一切。

它配备了BUIDL Review模块——一个AI驱动的评审系统，能够从多个维度（项目完整性、创意性、主题契合度等）智能分析项目，并自动剔除质量较低的提交[14]。

就像配备了一支随叫随到的专家评审军团。

效果如何？原本需要几百人小时完成的工作，如今几分钟即可完成。

DoraHacks报告称，AI辅助评审已将组织效率提高超过10倍[14]。

想象一下：一项原本需要一个月枯燥工作完成的任务，如今在几天之内搞定，而且评分更一致、公正、透明。 组织者不再淹没在文书工作中，参与者也能更快获得反馈。

当然，AI并不完全取代人工评委——最终决策仍需专家参与，但AI承担了繁重的初审环节。这也意味着：黑客松可放心接纳更多项目提交，因为AI会帮你完成筛选。

不再因为“人手不足”而限制报名人数。

在Agentic Hackathon中，再也没有优秀项目被埋没的遗憾，因为AI确保它们都能被看到。

自动化市场营销与内容讲述：让每场黑客松都自带扩散力

赢得一场黑客松固然令人激动，但如果无人知晓，影响力也就大打折扣。

过去，黑客松结束后，组织者通常需要手动撰写总结、撰文致谢、更新结果——虽然重要，却常常被推迟。

BUIDL AI改变了这一点。

它配备了自动化营销模块，可一键生成黑客松的总结报告与传播内容[14]。

想象这样一个AI，它完整“观察”了整场黑客松（包括提交项目、获奖名单、技术趋势），然后自动撰写出一份专业报道：突出最佳创意、介绍获胜团队、提炼洞察（比如“本次黑客松中60%的项目应用AI于医疗场景”）。

BUIDL AI正是这么做的：自动生成“高光集锦”与总结报告[14]。

这不仅节省了组织者的写作工作，还极大提升了黑客松的传播力。

活动结束数小时内，一份内容丰富的总结即可全球发布，展示创新成果，吸引关注。

赞助方与合作伙伴对此尤为青睐，因为他们的投资能被迅速宣传；参与者也很喜欢，因为自己的项目立刻获得庆祝与曝光。

本质上，每一场黑客松都在讲述一个故事，而BUIDL AI确保这个故事被迅速、广泛地传播。

这种自动化叙事机制，使得黑客松不再是孤立事件，而是持续内容的源泉，为下一场活动积蓄动能。

这是一个良性循环：黑客松产出创新，AI包装传播，传播吸引更多创新者。

一键发起，多黑客松并行：组织者的自由释放

BUIDL AI最具解放性的功能之一，是一键启动黑客松、支持多场并行管理。

过去，发起一场黑客松本身就是一项大型项目：报名系统、评委协调、奖金设计、沟通流程……一切都需人工配置。

DoraHacks的BUIDL AI引入了“一键发起黑客松”工具 [14] 。

组织者只需输入基本信息（主题、奖池、时间、评审规则），平台即自动生成活动页面、提交入口、评审流程等，就像发一篇博客一样简单。

这极大降低了社区与公司举办黑客松的门槛。

如今，即使是一个初创公司或大学社团，也可以轻松举办全球级黑客松，无需专职活动团队。

此外，BUIDL AI还支持多场黑客松的并行管理[14]。

过去，即使是科技巨头也难以同步组织多场黑客松——资源消耗太大。如今，一个生态系统可以同时运行DeFi、AI、 IoT等主题黑客松，背后由AI自动调度。

自BUIDL AI发布以来，组织12场/年，甚至同时运行数场黑客松，从“不可能”变成常规操作[14]。

平台还自动管理参与者接入、发送提醒、通过聊天机器人回答常见问题，确保流程顺畅。

简而言之，BUIDL AI让黑客松主办方像使用云服务器一样“按需发起”创新活动。

这是一场结构性转变：黑客松不再是“偶尔有空才办”的事件，而是“需要时就能发”的常态流程。 我们正在见证永续黑客松文化的诞生——不再是偶尔的火花，而是持续的火焰，始终燃烧，永不熄灭。

实时AI导师与智能助手：人人皆可成为“Agentic Hacker”

Agentic Hackathon的“智能代理”不仅体现在后台，也贯穿了参与者的体验。

借助AI集成，开发者得到了更智能的工具与支持。

例如，BUIDL AI可以配备AI助手，在活动中实时回答开发者问题（如“这个API怎么用？”、“有没有这个算法的代码示 例？”），就像随叫随到的技术导师。

它还可以推荐协作伙伴、推送参考资料。

本质上，每位参与者都像身边多了一个AI队友——全能、勤奋、永不疲倦。

一些本需数小时调试的bug，借助AI助手几分钟即可解决。

这意味着：项目质量提升，参与者学习效率大幅提高。

正如followin.io所言，这种“agentic协助”体现了“人人皆可成为黑客”的愿景[14]。

AI自动化了大量重复性工作，放大了小团队的能力边界[14]。

在Agentic Hackathon中，两个人加AI助手，就能完成过去五人团队数周才能达成的任务[14]。

这既降低了门槛，也拉高了上限——创新的天花板不再遥不可及。

总结：从黑客松2.0跃迁至3.0，进入智能化持续创新的新时代

所有这些变革，指向同一个事实：黑客松已从偶发的灵感爆发，演化为持续、高频、AI优化的创新流程。

我们正从黑客松2.0走向黑客松3.0——一个自主、常驻、智能的新时代。

这是一场范式转移。

黑客松不再是你参加的一场活动，而是你生活的一个创新环境。

借助BUIDL AI，DoraHacks描绘出这样的世界：“黑客松将进入一个前所未有的自动化与智能化时代，使全球更多黑客、开发者与开源社区能够轻松发起与参与。”

创新将随时随地发生，因为支持它的基础设施正由AI驱动、全天候运转于云端。

黑客松已成为一个智能平台，随时准备将创意转化为现实。

更关键的是，这一切并不局限于区块链。

BUIDL AI是通用平台——无论是AI、气候科技、医疗、教育等领域，都可接入Agentic Hackathon平台，享受更高频、更高效的创新节奏。

这预示着一个未来：黑客松将成为默认的解决问题方式。

公司与社区不再靠封闭的委员会与研发部门推进创新，而是将问题投入黑客松竞技场——一个始终活跃的解决问题引擎。

形象地说：

**DoraHacks 1.0 让黑客松拥有了高速引擎；

DoraHacks 2.0 加上 BUIDL AI，则让它变成一辆自动驾驶的赛车——油门踩到底。**

成本、复杂度、时间的阻碍——都不复存在。

如今，任何组织都能毫无阻力地驶入创新高速公路，从0加速到60。

黑客松频率如博客更新，融入日常运营，如同敏捷开发的冲刺演示。

按需创新，规模扩张——这就是Agentic Hackathon的力量。

随需创新：Agentic Hackathon 如何惠及所有人

Agentic Hackathon（自主智能黑客松）的诞生，并非只是技术社区的一款“新奇玩具”，而是一种变革性的工具，可服务于企业、开发者，乃至整个行业。

我们正步入一个全新时代：任何拥有愿景的人都能将“黑客松即服务”转化为推动创新的引擎。以下是不同参与者如何从这场革命中受益：

AI公司 —— 加速生态成长的发动机

对于专注于人工智能的公司（如 OpenAI、Google、Microsoft、Stability AI 等），黑客松是一座座发掘其技术创意用途的金矿。

如今借助 Agentic Hackathon，这些公司几乎可以为自己的平台持续举办一场“永不落幕”的开发者大会。

比如，OpenAI 可以为 GPT-4 或 DALL·E 启动全年在线的黑客松，鼓励全球开发者持续实验、展示这些AI的应用场景——本质上，以众包方式为AI平台孵化创新与杀手级应用。

收益何在？生态系统和用户基数的指数级扩展。

新的用例往往来自公司内部未曾设想的角落。 （最早展示 GPT-3 能撰写法律合同、生成游戏关卡的，不是大公司，而是独立黑客——他们在黑客松和社区挑战中发现了这些潜力。）

有了 BUIDL AI，AI 公司可以一键启动月度黑客松，每月聚焦不同方向（比如本月自然语言处理，下月机器人控制）。 这是市场营销与产品研发的倍增器。

无需再组织昂贵的开发者布道之旅，AI 将成为全球开发者互动的主力军。产品在推广的同时也在优化。 本质上，每家AI公司都可以开启自己的“黑客松联赛”，推动API或模型的普及与应用。

Coinbase最近首次举办AI主题黑客松，尝试连接加密与AI领域——他们很清楚，要播下新范式的种子，黑客松是最佳路径[15] 。

未来，我们将看到所有AI平台效仿：持续通过黑客松教育开发者、生成内容（演示、教程），并发掘可投资/可招聘的杰出人才。这将是社区建设的超级助推器。

L1/L2与技术平台 —— 发现下一只独角兽

对于区块链的一层/二层网络（Layer1/Layer2），以及任何技术平台（如云服务、VR平台等）来说，黑客松已成为新的“Deal Flow”（项目源）。

在 Web3 世界里，许多顶级项目与协议都诞生于黑客松，这一点早已被广泛认同。

我们看到，1inch 就是始于黑客松，后来成长为 DeFi 独角兽（cointelegraph.com）[9]。

Polygon 积极举办黑客松以寻找其生态的新型dApps；Filecoin 借助黑客松发掘分布式存储应用。

借助 DoraHacks 和 BUIDL AI，这些平台现在可以高频率地组织黑客松，持续输出创新成果。

不再是一年一两次大型活动，而是一个滚动进行的计划——比如每季度一场，甚至同时多地开展全球挑战，保持开发者“常态建设”。

回报率巨大：即使设有可观奖金，黑客松的举办成本也远低于收购一个蓬勃发展的初创公司或协议所需投入。 黑客松本质上是将早期研发外包给充满热情的社区成员，最好的创意自然浮现。

Solana 的黑客松就促成了 Phantom、Solend 等明星项目的落地。Facebook 的内部黑客松也曾带来推动平台主导地位的功能创新[1]。

现在，任何平台都可以将黑客松“外部化”：作为发现人才与创新的“雷达”。借助 BUIDL AI，哪怕一个 L2 区块链的核心团队人手有限，也能并行运行多场黑客松与赏金任务——一场关注 DeFi，一场关注 NFT，一场关注游戏等等。

AI 负责初审项目与管理社区问答，让平台的 DevRel 团队不至于“过劳”。结果是，一条源源不断的创新供给链，不断喂养平台增长。下一个独角兽、下一个杀手级应用，将被提前识别并扶持成长。

黑客松已成为 VC 和技术生态的新型创业漏斗（Startup Funnel）。

未来，投资人将活跃于 Agentic Hackathon 中——因为那里正是“未来车库”的所在：黑客们聚集在云端黑客室中重塑世界。

正如 Paul Graham 所言：“黑客与画家，皆为创造者”，他们将在黑客松平台的画布上，描绘未来科技的蓝图。

所有公司与社区 —— 创新成为一种持续流程

或许 BUIDL AI 最深远的影响是：让所有组织都能举办黑客松，不再局限于科技公司。

任何希望推动创新的机构——银行探索金融科技、医院网络寻找医疗科技方案、政府寻找公民科技创意——都可以利用 Agentic Hackathon。

创新不再是巨头的特权，它成为一项“云服务”，人人可用。

比如，一个城市政府可以举办全年黑客松，征集“智慧城市”解决方案，让本地开发者持续提出、建设项目以改善城市生活。

BUIDL AI 平台可以设置不同“赛道”：交通、能源、安全，每月评选最佳创意并给予奖励。

这比传统招标流程更加灵活，能更高效地激发社区活力与项目孵化。

同样地，任何担心被颠覆的财富500强公司（其实谁不担心？）都可以主动“自我颠覆”——通过黑客松邀请员工和外部创新者挑战企业自身难题。

在 agentic 模式下，即使是非技术型公司也能轻松参与；AI 会引导流程，保障运行顺畅。试想：黑客松成为每一家企业战略部门的“标配工具”，不断原型化未来。

正如 Marc Andreessen 所说，“软件正在吞噬整个世界”——而现在，每家公司都可以通过举办黑客松，参与“软件化”自身问题的过程。

这将推动跨行业的创新民主化。

尝试大胆创意的门槛大幅降低（周末黑客松 vs. 数月企业流程），更多潜在颠覆性创意将在企业内部浮现。

有了 DoraHacks 的全球影响力，企业也能轻松吸引外部创新者参与。

零售公司为何不能从全球黑客那里众包 AR 购物创意？

制药公司为何不办场生物信息学黑客松以探索数据分析新方法？

答案只有一个：没有理由不做。Agentic Hackathon 让一切变得可行、值得。

黑客松即服务（Hackathon-as-a-Service）将成为下一代的创新部门——要么使用它，要么被使用它的人超越。

结语：从偶发事件到创新基础设施的演进

所有上述变革，归结为一个深刻转变：黑客松正从一次性的活动，演变为创新生态系统中的常驻组成部分。

它们正成为像云计算、宽带网络一样的基础资源：随时可用，规模无限。

想获得新点子或原型？办场黑客松，让全球开发者接招。

想激活开发者社群？发布主题黑客松，提供舞台。

想试验10种解决方案？来一场比赛，看看谁跑出来。

我们正在见证所谓“创新公地（Innovation Commons）”的诞生：一个持续匹配问题与创意、迅速迭代解决方案的协 作空间。

AI是这片公地的维护者，保证运行高效、协作持久，不再需要消耗人为组织者的精力。

这也正好回应了人们对黑客松的批评：缺乏可持续性与后续跟进。

而在Agentic模型中，黑客松不再是孤岛——它们可以彼此衔接：上届的优胜团队可以直接晋级加速器，或参与下月的 新主题挑战。

BUIDL AI 甚至可以追踪团队进展，推荐资助机会、合作方、甚至下一步要申请的Grant，彻底解决过去“项目周末之后无人接手”的痛点。

好项目不会在周日夜晚“死掉”，而是被自动引导进入下一阶段的旅程。

我们还应认识到一种更深层的哲学意义：

创新文化，变得更具实验性、更重才智、更具节奏感。

在Agentic Hackathon的世界中，座右铭是：“为啥不原型一下？为啥不现在就试？”

因为启动一场实验的门槛如此之低，创新思维将像空气般流入每一个组织、每一个社区。

失败的成本极低（只需几周），成功的可能却极高（也许就是下一个突破）。

这是一块供“颠覆性想法”安全试验的沙盒，也正是解决《创新者的窘境》的现实路径：

结构性地为那些被视为“玩具”的想法，保留生长空间[5]。

企业无需在“核心业务”与“实验创新”之间二选一——他们可以为后者开设一条常驻黑客松轨道。

本质上，DoraHacks 与 BUIDL AI 打造了一座“创新工厂”——任何有远见的组织都可以“租用”一周末，甚至一年。

从 Like 按钮到点火升空：黑客松是创新的摇篮

要真正理解这个新时代的分量，我们不妨回顾一下——多少改变世界的创新，其实起源于黑客松项目或类似黑客松的实验，即使当时还受限于旧有模式。而现在，随着这些限制被移除，我们能期待的，将远远不止于此。 历史本身，就是黑客松创新模式的最佳佐证：

Facebook 的基因，由黑客松塑造

马克·扎克伯格本人曾表示，Facebook 的许多关键功能都来自公司内部的黑客松：“点赞”按钮、Facebook Chat、时间线功能，无一不是工程师们在通宵达旦的黑客松中迸发出的创意[1]。

一位实习生在黑客松中构建的“评论区标记好友”原型，在短短两周后就上线，触达了十亿用户[1]。Facebook 的核心理念“Move fast and break things（快速行动，大胆试错）”，几乎就是黑客松精神的官方化表达。

可以毫不夸张地说，Facebook 能在2000年代超越 MySpace，正是得益于其由黑客松推动的快速创新文化[1]。

如果黑客松能在一家公司的内部产生如此颠覆性作用，想象一下——当它成为全球网络时，创新的速度将怎样改变整个世界？

Google 的“20% 时间”项目：制度化的黑客精神

Google 长期鼓励员工将20%的时间投入到自由探索的副项目中，这本质上是黑客松理念的延伸：结构外的探索实验。 Gmail 和 Google News 就是这样诞生的。

此外，Google 也曾围绕其 API 举办公开黑客松（如 Android 黑客松），催生了无数应用。

换句话说，Google 将黑客式实验制度化，获得了巨大的创新红利。

如今借助 Agentic Hackathon，即便没有 Google 资源的公司，也能制度化实验文化。

世界各地的开发者，都可以把每个周末当作自己的“20%时间”，借由这些平台启动属于自己的探索。

开源运动的推进器：Hackathons + Open Source = 强生态

开源软件世界也从“代码冲刺”（黑客松形式）中受益匪浅。

例如整个 OpenBSD 操作系统的开发就离不开其定期举办的黑客松[3]。

近年来，Node.js 与 TensorFlow 等项目也都通过黑客松来构建工具与生态组件。

其结果是：更强壮的技术生态，更活跃的贡献者社群。

DoraHacks 也在延续这种传统，并将自己定位为“全球领先的黑客松社区与开源开发者激励平台”[17]。

开源与黑客松的结合——都去中心化、社群驱动、基于 meritocracy（才智主义）——本身就是创新引擎。

我们可以预见，未来开源项目将借助 BUIDL AI 启动“永不停歇的黑客松”：持续修复 bug、加入新功能、奖励优秀贡献者。

这将为开源世界注入新生命——不仅通过奖金提供激励，还能以系统化的方式提供认可与传播。

初创世界：黑客松造就新公司

众多初创企业的起点，都是黑客松。 我们已提到的 Carousell（起于Startup Weekend，估值超10亿美元[2]）、EasyTaxi（同样出自Startup Weekend，融资7500万美元[2]）。 再加上：

• Zapier（集成工具平台，灵感来自黑客松）
• GroupMe（如前所述，被Skype收购）
• Instacart（传说在Y Combinator Demo Day 黑客松中以早期版本夺得优胜）
• 以及无数加密初创项目（包括 Ethereum 创始人们的相识与合作也源于早期黑客松与比特币线下聚会）

如今，当 Coinbase 想寻找链上 AI 的下一个机会时，他们办一场黑客松[15]。

Stripe 想推动支付平台上的应用数量，也选择了办黑客松并发放 Bounty。

这种模式行之有效：找到充满热情的构建者，为他们提供跳板。

有了 Agentic Hackathon，这个跳板不再只是弹射一次，而是始终在线，能接住更多人。

这个“创业漏斗”变宽了，我们将看到更多初创企业诞生于黑客松。

完全可以想象：

2030年代最伟大的公司，不会诞生于车库，而是源自一场在线黑客松，由几个在 Discord 上认识的开发者，在 AI 导师协助下完成原型，并在 DoraHacks 平台数周内获得融资。

换句话说，“车库神话”已进化为全球、云端、AI驱动的创业现实。

黑客与画家：创造者的共鸣

Paul Graham 在《Hackers & Painters》中曾将“黑客”比作“画家”——两者皆为纯粹的创作者[16]。

而黑客松，正是这种创造能量最集中、最爆发的场域。

许多伟大程序员都会告诉你，他们最具灵感的作品，正是在黑客松或秘密小项目中完成的——在没有官僚主义的束缚 下，沉浸于“心流”中完成的创作。

扩大黑客松的规模与频率，本质上就是扩大人类的创造力边界。

我们或许会想起文艺复兴时期——艺术家与发明家聚集在赞助人举办的工坊中自由创作；而如今，黑客松就是现代文艺复兴的“创客工坊”。

它融合了艺术、科学与企业家精神。

若达·芬奇活在今天，他一定会如鱼得水地出现在黑客松中——他以疯狂原型迭代著称。

更重要的是：黑客松完美解决了《创新者的窘境》中的核心问题：鼓励人们去做那些 incumbent（巨头）不屑一顾、看似“小而无用”的项目——而那恰恰往往是颠覆性创新的藏身之处 [5]。

DoraHacks 正是通过制度化黑客松，制度化了颠覆本身——确保下一个 Netflix、Airbnb，不会因为“听起来像个玩具”而被错过。

黑客松已成为全球创新基础设施的一部分

我们已从“黑客松罕见且本地化”的时代，走到了“黑客松持续且全球化”的今天。

这不仅是节奏上的转变，更是全球创新基础设施的关键转折点。

19世纪，我们修建了铁路与电报，催化了工业革命，连接了市场与思想；

20世纪，我们构建了互联网与万维网，引爆了信息革命；

而今，21世纪，DoraHacks 与 BUIDL AI 正在搭建“创新高速公路”：一个持续运行、AI驱动的网络，

在全球范围内，实时连接解决者与问题、人才与机会、资本与创意。

这是为 创新本身修建的基础设施。

伟大的愿景：全球创新的新基础设施

我们正站在一个历史拐点上。

有了 DoraHacks 和 Agentic Hackathon（自主智能黑客松）的出现，创新不再局限于象牙塔、硅谷办公室，或一年一度的大会。

它正成为一项持续的全球性活动——一个随时随地聚集最聪明头脑与最大胆创意的竞技场。

这是一个未来：创新将像 Wi-Fi 一样无处不在，像摩尔定律一样不断加速。

这是 DoraHacks 正在主动构建的未来，而它所带来的影响将是深远的。

想象几年之后的世界：DoraHacks + BUIDL AI 成为跨行业创新项目的默认基础设施。

这个平台7×24不间断运转，承载着从 AI 医疗、气候变化应对，到艺术娱乐前沿的各类黑客松。

而且它不仅仅属于程序员——设计师、创业者、科学家，任何有创造力冲动的人，都能接入这张全球创新网络。

一个伦敦的创业者凌晨2点冒出商业点子；2点15分，她就在 DoraHacks 上发起一场48小时黑客松，AI 自动为她召集来自四大洲的协作者。

听起来疯狂？但未来这将成为常态。

亚洲某国突发环境危机，政府通过 BUIDL AI 紧急发起黑客松，数日内即收到来自全球的数十个可执行科技方案。 纽约某家风投基金希望发现新项目，不再只是等着 PPT 投递——他们直接赞助一场开放黑客松，要求提交原型，而非空谈构想。

这就是 Agentic 创新正在发生的方式：快速、无边界、智能协作。 在这个即将到来的时代，DoraHacks 将如同 GitHub 之于代码、AWS 之于初创企业一般，成为全球创新的基础平台。

你甚至可以称它为创新的 GitHub——不是一个存储代码的工具，而是项目诞生的土壤[17]。 DoraHacks 自称是“全球黑客运动的引擎”；而有了 BUIDL AI，它更成为这场运动的自动驾驶系统。

我们应将其视为全球公共创新基础设施的一部分：

正如高速公路运输货物、互联网传递信息，DoraHacks 传递的是创新本身——

从创意萌芽到落地实施，以惊人的速度。

当历史回顾2020年代，持续性、AI驱动的黑客松的诞生，将被视为人类创新模式变革的重要篇章。

这是一幅宏大但真实可触的愿景：

创新，将变成一场永恒的黑客松。

设想一下：

黑客精神深入社会每个角落，成为对现状的持续挑战，时刻发出这样的提问：

“我们如何改进这件事？”、“我们如何重新发明那件事？”

然后立刻号召人才，迅速投入行动。

这不是混乱，而是一种全新的、有组织、去中心化的研发模式。

一个大胆问题——“我们能治愈这种疾病吗？”、“我们能否让儿童教育更高效？”、“我们能不能让城市真正可持续？”—— 不再需要靠闭门造车的委员会来思考十年，而是一场全球黑客松，就可能在几天或几周内产生答案。 这将是一个创新不再稀缺、不再由少数人垄断，而是成为一项公共物品的世界。

一场开放的、胜者为王的比赛，不管解决方案来自斯坦福博士，还是拉各斯的自学黑客，只要够好，就能脱颖而出。 如果你觉得这听起来太理想，请看看我们已经走了多远：

黑客松从一个名不见经传的程序员聚会，变成了支撑十亿美元企业和全球关键技术的创新机制。 （别忘了，比特币本身就是黑客文化的产物！）

随着 DoraHacks 的壮大和 BUIDL AI 的腾飞，黑客松正朝着持续化与无处不在的方向稳步推进。 技术已经准备就绪，模式已经跑通，现在的关键是执行与普及。

而趋势已然明朗：

• 越来越多公司拥抱开放创新；
• 越来越多开发者远程工作、参与在线社区；
• AI 正快速成为每个创造过程的副驾驶。

DoraHacks 正站在这场转型的核心。

它拥有先发优势、全球社区、明确愿景。

他们的理念非常清晰：“为黑客运动提供永恒燃料”是他们的口号之一[18]。

在他们眼中，黑客松不仅是活动，更是一场必须永续进行的思维革命。 而 BUIDL AI，正是支撑这场永续革命的引擎。

这预示着一个未来：

DoraHacks + BUIDL AI，将成为全球创新关键基础设施的一部分，就像公共事业一样。

这是一张“创新电网”；一旦接入它，奇迹发生。

Marc Andreessen 常在文章中以“建造更好的未来”为信条，热情洋溢地谈论人类的进步。

如果秉持这一精神，我们可以大胆断言：

Agentic Hackathon 将重塑我们的未来——更快、更好。

它们将加速人类解决最难问题的速度，

动员更广泛的人才库，

以史无前例的节奏不断迭代方案。

它们将赋能每一个人——让地球上任何拥有创造力的人，立即就能获得工具、社群和机会，产生真正的影响，而不是“未来某天”。

这是一种深层次的民主化。

它呼应了早期互联网的精神：不需许可的创新（Permissionless Innovation）。

而 DoraHacks 正在将这一精神引入结构化的创新事件中，并将其延展为一种持久的创新模式。

总结：我们正目睹一场范式的彻底转变：黑客松被重塑，创新被解放。

旧模型的限制已被打破，

新范式的核心是：

高频黑客松、AI增强、结果导向。

DoraHacks 在 2020–2024 年引领了这场变革，

而随着 BUIDL AI 的登场，它即将开启下一个篇章——Agentic Innovation 的时代。

对投资者与有远见的领袖而言，这是一场集结号。

我们常说要“投资基础设施”，

那么现在，就是投资“创新本身的基础设施”。

支持 DoraHacks 和它的使命，

就像支持跨洲铁路或洲际高速的建造者，

只不过这次运载的是创意与突破。

网络效应巨大：每一场新增的黑客松、每一位新增的参与者，

都以复利效应提升整个生态系统的价值。

这是一场正和博弈（Positive-Sum Game），

DoraHacks 将是那个创造并捕捉全球价值的平台与社区。

DoraHacks 重新定义了黑客松：

它将黑客松从偶发行为变成了持续创新的系统方法。

在这个过程中，它敞开了创新之门，

引领我们进入一个全新的时代：

一个创新可以自主驱动、自组织、永不停歇的时代。

我们正站在这个新时代的黎明。

这是一个真正意义上：

拥有开发者，拥有世界的时代[14] 。

DoraHacks 正在确保：

无论你身在何处，只要你是开发者、黑客、梦想家，

你都能为这个世界的未来贡献力量。

前方的远景令人震撼——一个由全球黑客思维构成的智能蜂巢，

不断发明、持续发现，

由 AI 指引航向，

由 DoraHacks 与 BUIDL AI 领航。

这不仅仅是一个平台，

它是一项革命性的基础设施——创新的铁路，创意的高速。

请系好安全带：

DoraHacks 已经启程，

Agentic Innovation 的时代已经到来，

未来正以黑客松的速度，向我们疾驰而来。

这场黑客松，永不停歇。

而这，正是我们构建更美好世界的方式。

参考文献：

[1] Vocoli. (2015). Facebook’s Secret Sauce: The Hackathon . https://www.vocoli.com/blog/june-2015/facebook-s-secret-sauce-the-hackathon/

[2] Analytics India Magazine. (2023). Borne Out Of Hackathons . https://analyticsindiamag.com/ai-trends/borne-out-of-hackathons/

[3] Wikipedia. (n.d.). Hackathon: Origin and History . https://en.wikipedia.org/wiki/Hackathon#Origin_and_history

[4] LinkedIn. (2024). This year marked my third annual participation in Microsoft’s Global… . https://www.linkedin.com/posts/clare-ashforth_this-year-marked-my-third-annual-participation-activity-7247636808119775233-yev-

[5] Glasp. (n.d.). Chris Dixon’s Quotes . https://glasp.co/quotes/chris-dixon

[6] ODaily. (2024). Naija HackAtom Hackathon Recap . https://www.odaily.news/en/post/5203212

[7] Solana. (2021). Meet the winners of the Riptide hackathon - Solana . https://solana.com/news/riptide-hackathon-winners-solana

[8] DoraHacks. (n.d.). BNB Grant DAO - DoraHacks . https://dorahacks.io/bnb

[9] Cointelegraph. (2021). From Hackathon Project to DeFi Powerhouse: AMA with 1inch Network . https://cointelegraph.com/news/from-hackathon-project-to-defi-powerhouse-ama-with-1inch-network

[10] Gemini. (2022). How Does STEPN Work? GST and GMT Token Rewards . https://www.gemini.com/cryptopedia/stepn-nft-sneakers-gmt-token-gst-crypto-move-to-earn-m2e

[11] CoinDesk. (2022). Inside DoraHacks: The Open Source Bazaar Empowering Web3 Innovations . https://www.coindesk.com/sponsored-content/inside-dorahacks-the-open-source-bazaar-empowering-web3-innovations

[12] LinkedIn. (n.d.). DoraHacks . https://www.linkedin.com/company/dorahacks

[13] Blockworks. (2022). Web3 Hackathon Incubator DoraHacks Nabs $20M From FTX, Liberty City . https://blockworks.co/news/web3-hackathon-incubator-dorahacks-nabs-20m-from-ftx-liberty-city

[14] Followin. (2024). BUIDL AI: The future of Hackathon, a new engine for global open source technology . https://followin.io/en/feed/16892627

[15] Coinbase. (2024). Coinbase Hosts Its First AI Hackathon: Bringing the San Francisco Developer Community Onchain . https://www.coinbase.com/developer-platform/discover/launches/Coinbase-AI-hackathon

[16] Graham, P. (2004). Hackers & Painters . https://ics.uci.edu/~pattis/common/handouts/hackerspainters.pdf

[17] Himalayas. (n.d.). DoraHacks hiring Research Engineer – BUIDL AI . https://himalayas.app/companies/dorahacks/jobs/research-engineer-buidl-ai

[18] X. (n.d.). DoraHacks . https://x.com/dorahacks?lang=en

@ 26d4b5b2:96393e73

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@ bf47c19e:c3d2573b

Bitkoin, kao jedinstvena digitalna valuta, postaje poznat široj javnosti u trenutku kada se pojavljuju prvi znaci svetske ekonomske krize a postojeći finansijski sistem počinje da pokazuje sve svoje slabosti. Danas, bitkoin, izaziva veliku pažnju svojim naglim skokovima i padovima.

Osnovna ideja o o decentralizovanim valutama potekla je od osnivača kripto-pank pokreta, među kojima su bili direktori kompanija naprednih tehnologija, univerzitetski profesori i istraživači iz oblasti matematike i fizike. Njihova ideja zasnovana je na anonimnoj, istovremenoj komunikaciji koja neće biti kontrolisana i nadgledana od neke treće strane u procesu.

Šta je kriptovaluta, ko je njen tvorac, kako do nje doći, kako trgovati i gde je čuvati, neka su od pitanja za čijim odgovorima tragamo u emisiji.

Sagovornici u emisiji su svi oni koji su u poslednjih godinu dana bili relevantni učesnici priča o kriptovaluti u Srbiji: osnivači Asocijacije bitkoin, predstavnici Narodne banke Srbije i predstavnici medija.

Montažer Milan Radičević

Urednik Aleksandra Šarković

@ bf95e1a4:ebdcc848

This is a part of the Bitcoin Infinity Academy course on Knut Svanholm's book Bitcoin: Sovereignty Through Mathematics. For more information, check out our Geyser page!

Holding On

In the old days, we Scandinavians had to save in order to prepare for the long winter. We chopped wood and salted meat in order to survive. In our current age of consumerism, however, we’ve forgotten all that and we pilgrim to the shopping malls as much as everyone else. No one seems to even have a savings account anymore. Interest rates are low, and we’re told to borrow and spend as much as we can. We’re bombarded with advertising for loans, mortgages, and financial services on a daily basis. Why? Because of our inability to understand the nature of money and its mechanics. Inflation is the underlying force that makes us squander rather than save. Inflation hinders us from reaping the fruits of our labor whenever we see fit, and it makes that very fruit rot. Bitcoin reverses the rotting process and provides us with a means of transporting the value of our labor not only through space but also through time.

The Stanford Marshmallow Experiments was a series of studies on delayed gratification conducted in the late 1960s and early 1970s. In these experiments, children were given a marshmallow or a cookie and were told that they would receive an additional one if they could control their urges and not touch the first one for fifteen minutes. Follow-up studies found that the kids who were able to resist the temptation of the first cookie tended to score better on SAT tests, have lower BMIs, and higher incomes than their less disciplined counterparts. Investing in your future self — in other words, resisting present temptation by delaying gratification — is the most effective skill you can cultivate for a brighter future. You reap what you sow. This can be described as having a low time preference. Having a low time preference is a fundamental factor in the economic success of any human endeavor. Not trying to catch fish with your hands for a couple of days in order to construct a rod or net when on a deserted island might make you hungry during those sacrificed days, but it will provide a better chance of catching fish in the future. Likewise, learning new skills now might lead to a higher salary in the future. Unfortunately, our current monetary system distorts our perceptions and incentives and favors those with a higher time preference — those who spend rather than save. We’re at a different point in history than the above-mentioned marooned fisherman. "Give a man a fish and feed him for a day, teach a man to fish and feed him for a lifetime," the saying goes. The ultimate goal should be to teach mankind to teach itself how to fish. What our current paradigm endorses is “give a man enough distractions, and he will stop thinking about finding better ways to support his loved ones and will succumb to whatever narrative you fill his head with, to make him work for you through taxes and inflation instead of for himself.”

In Bitcoin, people with a low time preference win. If you can resist the urge to sell, you will be rewarded in the future. The Bitcoin community refers to not selling as HODLing, which originated when a bitcointalk.org forumer named GameKyuubi misspelled the word holding in a now-famous post titled "I AM HODLING." The post became one of the Bitcoin community’s most prominent memes and a battle cry to resist the urge to sell during bear markets. Bitcoiners who have decided never to sell most or all of their holdings are referred to as HODLers of last resort. This term is not to be confused with the central banking term lender of last resort. The yearly highs in the price of Bitcoin are arguably less interesting than the yearly lows, which are practically decided by these HODLers of last resort. Considering its limited supply, all that Bitcoin needs to keep rising in price over the medium and long term are these people. Adoption and other metrics of measuring the success of Bitcoin are all dwarfed by the currency’s remarkable rise in value since its inception. The price has increased by a factor of ten approximately every three years. The best guarantee we have that it will keep doing so is Bitcoin’s limited supply combined with the HODLers of last resort.

In the Bitcoin space, and even more so in the cryptocurrency space on the whole, there’s a lot of talk about usage and adoption. We’re shown metrics of trading volumes and merchant acceptance, and we’re led to believe that these correlate with the short and long-term value in one way or another. While there may be truth in some of these theories, the most basic function of a deflationary asset is overlooked and rarely mentioned — the elephant in the room, so to speak. The best use for a commodity as scarce as Bitcoin is not to spend it or even to trade it but to save it and hold it for as long as you can. By doing so, you limit the number of coins in circulation. The more people that do this, the harder it will be to come by and the higher its price will be. Nothing on Earth is as scarce as Bitcoin. Nothing is as irreplicable, as immutable, and at the same time as portable as Bitcoin — its unique history and resistance to change have already proven this over and over. Its absolute scarcity is what gives Bitcoin its value, and ironically enough, this seems to be the hardest thing for people to understand about it. What if everyone in the network became a HODLer and decided to never sell, wouldn’t the network just slowly come to a halt? Not at all. Everyone has a price. Few would resist selling some of their Bitcoin if it could buy them a small city. There are price levels for each HODLer where reallocating financially may be a wise thing to do. A Bitcoin is also very divisible: The smallest unit, the satoshi, sometimes referred to as a sat, is one-hundred millionth of a Bitcoin. Even smaller units are made possible with the introduction of the Lightning Network, albeit not in the actual Bitcoin blockchain. Together, this enables Bitcoin to be highly saleable even at astronomical price levels.

What not having sound money has done to us is simply unfathomable. Imagine every person on Earth knowing that every transaction they’ll ever make will have a real impact on their future prosperity. We’re so used to inflationary currencies that most people don’t even realize why sound money is important. We’re so used to having a large cut of our income silently taken away from us that we don’t even realize how much of our day we spend working for someone else. Wars are funded by inflation. Imagine how many man-hours were put in by people who didn’t realize they were actually working for a war machine funded by a corrupt currency during World War II. Every time you use a fiat currency, you legitimize counterfeiting. Every time you use Bitcoin, you promote sound money. In fact, every time you don’t use your Bitcoin but save it instead, you promote sound money because sound money increases in value when the total number of coins in circulation is limited. It all sounds a bit magic and far-fetched, doesn’t it? Increased value over time, no matter what happens? Well, that is why many of us so-called Bitcoin Maximalists are so excited that we put our careers at risk for this technology. Once you realize what Bitcoin is and what it will do for the world, there is no way of un-realizing it. It really is mind-blowing.

At the beginning of time-that-actually-is-money — in other words, around 2009 — Bitcoin was mostly considered a toy for the cypherpunk movement. As its price started to grow rapidly, a small group of early investors became very wealthy, which in turn spawned a media hype around the phenomenon. Mainstream media remained largely skeptical, portraying Bitcoin as a pyramid scheme, a tulip craze, or a bubble at best. Most journalists simply couldn’t understand how an asset seemingly created out of thin air could have any long-term relevance. Some were frustrated because they thought that they’d missed the train. Many still do. In a world where companies like Google, Facebook, and Amazon can rise from zero to world dominance in a decade, people tried to find the Next Big Thing — the next Bitcoin. This attracted charlatans and scammers to the field who launched hundreds of altcoins, claiming to someday be technically superior, faster, or more privacy-focused. What the snake-oil salespeople omitted were the crucial facts: their new coins and tokens were not decentralized (and therefore neither immutable nor censorship-resistant), did not have a fair distribution, and so on. What most people still don’t get is that if Bitcoin doesn’t work, nothing will. This is humanity’s best shot at sound money. It is also, very likely, our only shot at it.

Many venture capital firms, hedge funds, and retail investors were bamboozled by the buzzword frenzy and invested great sums in these quack tokens. This generated confusion in the market as many altcoins increased dramatically in price at an even higher rate than Bitcoin. Due to human nature and a lack of understanding of basic monetary economics, the bubble grew bigger and bigger until it inevitably popped and wiped out most of the useless alternative cryptocurrencies. Bitcoin experienced ups and downs as well, but they were less volatile. Bitcoin bottomed at levels well above the beginning of the previous bull run and then resumed rising just as it had done several times before. The victims of the altcoin craze will take note of this. They will learn the hard way what separates the original from the copycat. They will see the undisputable superiority of sound money. It’s just a matter of time. Time, which is money.

Every time the people of Venezuela, Turkey, Argentina, or Zimbabwe are screwed over by their respective central banking authorities and turn to Bitcoin to preserve their savings or income from rampant inflation, the world becomes more aware of Bitcoin as a store of value. In comparison to the Venezuelan Bolivar, there was no crash in Bitcoin at all. There’s also a good chance the really big players will accumulate aggressively during the next bull market, given that Bitcoin, for the moment, still represents a very small allocation of institutional and hedge fund investment. Consider what will happen when institutional investors and a growing number of larger nations start to see Bitcoin’s potentially limitless upside. At this point, central banks will start to accumulate Bitcoin in an attempt to keep up with reality. This will legitimize the technology even further.

It is still unclear when this will all play out. When it does, however, it will be the largest transfer of wealth from one medium to another in human history. Early investors, many of which are technically competent, will become financially independent and, therefore, able to contribute to the ecosystem full-time. More and more people will demand payment in Bitcoin for its ability to store value. Remember that the next block reward halving is just around the corner and that Bitcoin will have an even greater stock-to-flow ratio than gold in just a few years. After the halving in 2020, Bitcoin will have a supply inflation rate of approximately 1.8%, which is lower than the US Federal Reserve’s target 2% price inflation rate. It is important to remember that Bitcoin is still an experiment. Should the experiment work, however, hyperbitcoinization is just a matter of time.

The implications of giving everyone on Earth the ability to rot-proof the fruit of their labor and transport its value through time are hard to overstate. The closest thing we’ve had to it historically is gold, but gold is not very divisible and not very easy for the general public to get their hands on. More importantly, gold is not absolutely scarce. No one knows how much of it there is left buried in the Earth's crust. Investing in real estate has also been seen as a good store of value throughout the ages, but real estate needs a lot of maintenance and is not cheap to hold on to. Real estate is also relatively easy to confiscate in the event of political collapse. Bitcoin provides us with the potential ability to store any amount in our heads and pass it down through generations without anyone ever knowing we had it in the first place. It effectively endows each individual with the power possessed by the feudal kings to turn people into knights. Any bitcoiner can now dub any no-coiner into a fully-fledged time-proof bitcoiner.

About the Bitcoin Infinity Academy

The Bitcoin Infinity Academy is an educational project built around Knut Svanholm’s books about Bitcoin and Austrian Economics. Each week, a whole chapter from one of the books is released for free on Highlighter, accompanied by a video in which Knut and Luke de Wolf discuss that chapter’s ideas. You can join the discussions by signing up for one of the courses on our Geyser page. Signed books, monthly calls, and lots of other benefits are also available.

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Bitcoin

It stands alone. Immutable. Unyielding. It records without mercy. Each transaction cuts deep. Some carry wealth. Others just data. The debate rages on.

OP_RETURN

It divides us all. Bloat versus freedom. Money versus use. Simple versus complex.

Nodes

They bear heavy weight. Each byte costs something. Storage grows. Bandwidth drains. Money defenders stand guard.

"Our purpose is clear...Money serves one master." —Mises

Not art.

Not storage.

Not games.

The fee-payers

They disagree. "I paid. I belong." The miners take their cut. The highest fee wins. No questions asked. The protocol allows it.

"Accept what exists."—Marcus Aurelius

The chain is neutral. Always neutral.

What is a transaction?

None agree. Value transfer only? Or any valid data? The white paper speaks. "Electronic cash system." Yet code evolved. It grew teeth. It allows more now.

"Shitcoin"

Cuts both ways. A dangerous word. It keeps focus. It maintains unity. But it wounds creation. Makes builders desperate. They force ideas onto Bitcoin. They use OP_RETURN poorly. They bloat what needs no bloating. Seneca saw this coming...

"Fear makes suffering worse."

Innovation needs proper soil. Not forced transplants.

Money debates sharpen knives. Is Bitcoin gold? Is it currency? Mantras echo loudly.

"Digital gold."

_"Spend dollars, saving Bitcoin." _

"Never sell your Bitcoin."

Bitcoin becomes idol. Not tool. Mises would disapprove, "Money must move." Without exchange, it dies. If none spend, why fight bloat?

Rhetoric

It hurts us. "Shitcoin" closes minds. Forces square pegs round. Drives experiments home. To Bitcoin they return. Bearing misshapen plans.

"Knowledge exists in dispersion," Hayek warns.

Let ideas find homes. Let Bitcoin be Bitcoin.

Fees

They bring new problems. Users flee high costs. They seek cheaper chains. The wealthy still play games. They can afford the bloat. The poor cannot compete. The rich inscribe at will. Rothbard saw this trap, "Markets need equal rules."

Fee markets favor wealth. Always have. Always will.

Nodes must still run. Validators must validate. Decentralized. Resistant. Strong. The burden grows heavier. But principles matter most.

The battle

It continues. Hard words. Hard choices.

Bitcoin endures all. Money or platform? Gold or currency? The answers shift. The chain grows. Block by block. Byte by byte.

We need clearer words. Cleaner definitions. Less pride. More thought. Let Bitcoin be what it is. Not what we demand.

Bitcoin is human.

Not magical. Not divine. Fallible like its makers. A young experiment still. It could fail tomorrow.

"Nothing is too big to fail." —Satoshi

Our rhetoric needs maturity. Our definitions need clarity. Bitcoin needs humility. From all who touch the code.