@ 51bbb15e:b77a2290

Yeah, I’m sure everything in the file is legit. 👍 Let’s review the guard witness testimony…Oh wait, they weren’t at their posts despite 24/7 survellience instructions after another Epstein “suicide” attempt two weeks earlier. Well, at least the video of the suicide is in the file? Oh wait, a techical glitch. Damn those coincidences!

At this point, the Trump administration has zero credibility with me on anything related to the Epstein case and his clients. I still suspect the administration is using the Epstein files as leverage to keep a lot of RINOs in line, whereas they’d be sabotaging his agenda at every turn otherwise. However, I just don’t believe in ends-justify-the-means thinking. It’s led almost all of DC to toss out every bit of the values they might once have had.

@ c9badfea:610f861a

1. Install Sky Map (it's free and open source)
2. Launch the app and tap Accept, then tap OK
3. When asked to access the device's location, tap While Using The App
4. Tap somewhere on the screen to activate the menu, then tap ⁝ and select Settings
5. Disable Send Usage Statistics
6. Return to the main screen and enjoy stargazing!

ℹ️ Use the 🔍 icon in the upper toolbar to search for a specific celestial body, or tap the 👁️ icon to activate night mode

@ 04c915da:3dfbecc9

This piece is the first in a series that will focus on things I think are a priority if your focus is similar to mine: building a strong family and safeguarding their future.

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Choosing the ideal place to raise a family is one of the most significant decisions you will ever make. For simplicity sake I will break down my thought process into key factors: strong property rights, the ability to grow your own food, access to fresh water, the freedom to own and train with guns, and a dependable community.

A Jurisdiction with Strong Property Rights

Strong property rights are essential and allow you to build on a solid foundation that is less likely to break underneath you. Regions with a history of limited government and clear legal protections for landowners are ideal. Personally I think the US is the single best option globally, but within the US there is a wide difference between which state you choose. Choose carefully and thoughtfully, think long term. Obviously if you are not American this is not a realistic option for you, there are other solid options available especially if your family has mobility. I understand many do not have this capability to easily move, consider that your first priority, making movement and jurisdiction choice possible in the first place.

Abundant Access to Fresh Water

Water is life. I cannot overstate the importance of living somewhere with reliable, clean, and abundant freshwater. Some regions face water scarcity or heavy regulations on usage, so prioritizing a place where water is plentiful and your rights to it are protected is critical. Ideally you should have well access so you are not tied to municipal water supplies. In times of crisis or chaos well water cannot be easily shutoff or disrupted. If you live in an area that is drought prone, you are one drought away from societal chaos. Not enough people appreciate this simple fact.

Grow Your Own Food

A location with fertile soil, a favorable climate, and enough space for a small homestead or at the very least a garden is key. In stable times, a small homestead provides good food and important education for your family. In times of chaos your family being able to grow and raise healthy food provides a level of self sufficiency that many others will lack. Look for areas with minimal restrictions, good weather, and a culture that supports local farming.

Guns

The ability to defend your family is fundamental. A location where you can legally and easily own guns is a must. Look for places with a strong gun culture and a political history of protecting those rights. Owning one or two guns is not enough and without proper training they will be a liability rather than a benefit. Get comfortable and proficient. Never stop improving your skills. If the time comes that you must use a gun to defend your family, the skills must be instinct. Practice. Practice. Practice.

A Strong Community You Can Depend On

No one thrives alone. A ride or die community that rallies together in tough times is invaluable. Seek out a place where people know their neighbors, share similar values, and are quick to lend a hand. Lead by example and become a good neighbor, people will naturally respond in kind. Small towns are ideal, if possible, but living outside of a major city can be a solid balance in terms of work opportunities and family security.

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Let me know if you found this helpful. My plan is to break down how I think about these five key subjects in future posts.

@ 04c915da:3dfbecc9

Here’s a revised timeline of macro-level events from The Mandibles: A Family, 2029–2047 by Lionel Shriver, reimagined in a world where Bitcoin is adopted as a widely accepted form of money, altering the original narrative’s assumptions about currency collapse and economic control. In Shriver’s original story, the failure of Bitcoin is assumed amid the dominance of the bancor and the dollar’s collapse. Here, Bitcoin’s success reshapes the economic and societal trajectory, decentralizing power and challenging state-driven outcomes.

Part One: 2029–2032

• 2029 (Early Year)\ The United States faces economic strain as the dollar weakens against global shifts. However, Bitcoin, having gained traction emerges as a viable alternative. Unlike the original timeline, the bancor—a supranational currency backed by a coalition of nations—struggles to gain footing as Bitcoin’s decentralized adoption grows among individuals and businesses worldwide, undermining both the dollar and the bancor.

• 2029 (Mid-Year: The Great Renunciation)\ Treasury bonds lose value, and the government bans Bitcoin, labeling it a threat to sovereignty (mirroring the original bancor ban). However, a Bitcoin ban proves unenforceable—its decentralized nature thwarts confiscation efforts, unlike gold in the original story. Hyperinflation hits the dollar as the U.S. prints money, but Bitcoin’s fixed supply shields adopters from currency devaluation, creating a dual-economy split: dollar users suffer, while Bitcoin users thrive.

• 2029 (Late Year)\ Dollar-based inflation soars, emptying stores of goods priced in fiat currency. Meanwhile, Bitcoin transactions flourish in underground and online markets, stabilizing trade for those plugged into the bitcoin ecosystem. Traditional supply chains falter, but peer-to-peer Bitcoin networks enable local and international exchange, reducing scarcity for early adopters. The government’s gold confiscation fails to bolster the dollar, as Bitcoin’s rise renders gold less relevant.

• 2030–2031\ Crime spikes in dollar-dependent urban areas, but Bitcoin-friendly regions see less chaos, as digital wallets and smart contracts facilitate secure trade. The U.S. government doubles down on surveillance to crack down on bitcoin use. A cultural divide deepens: centralized authority weakens in Bitcoin-adopting communities, while dollar zones descend into lawlessness.

• 2032\ By this point, Bitcoin is de facto legal tender in parts of the U.S. and globally, especially in tech-savvy or libertarian-leaning regions. The federal government’s grip slips as tax collection in dollars plummets—Bitcoin’s traceability is low, and citizens evade fiat-based levies. Rural and urban Bitcoin hubs emerge, while the dollar economy remains fractured.

Time Jump: 2032–2047

• Over 15 years, Bitcoin solidifies as a global reserve currency, eroding centralized control. The U.S. government adapts, grudgingly integrating bitcoin into policy, though regional autonomy grows as Bitcoin empowers local economies.

Part Two: 2047

• 2047 (Early Year)\ The U.S. is a hybrid state: Bitcoin is legal tender alongside a diminished dollar. Taxes are lower, collected in BTC, reducing federal overreach. Bitcoin’s adoption has decentralized power nationwide. The bancor has faded, unable to compete with Bitcoin’s grassroots momentum.

• 2047 (Mid-Year)\ Travel and trade flow freely in Bitcoin zones, with no restrictive checkpoints. The dollar economy lingers in poorer areas, marked by decay, but Bitcoin’s dominance lifts overall prosperity, as its deflationary nature incentivizes saving and investment over consumption. Global supply chains rebound, powered by bitcoin enabled efficiency.

• 2047 (Late Year)\ The U.S. is a patchwork of semi-autonomous zones, united by Bitcoin’s universal acceptance rather than federal control. Resource scarcity persists due to past disruptions, but economic stability is higher than in Shriver’s original dystopia—Bitcoin’s success prevents the authoritarian slide, fostering a freer, if imperfect, society.

Key Differences

• Currency Dynamics: Bitcoin’s triumph prevents the bancor’s dominance and mitigates hyperinflation’s worst effects, offering a lifeline outside state control.
• Government Power: Centralized authority weakens as Bitcoin evades bans and taxation, shifting power to individuals and communities.
• Societal Outcome: Instead of a surveillance state, 2047 sees a decentralized, bitcoin driven world—less oppressive, though still stratified between Bitcoin haves and have-nots.

This reimagining assumes Bitcoin overcomes Shriver’s implied skepticism to become a robust, adopted currency by 2029, fundamentally altering the novel’s bleak trajectory.

@ 3f770d65:7a745b24

🏌️ Monday, May 26 – Bitcoin Golf Championship & Kickoff Party

Location: Las Vegas, Nevada\ Event: 2nd Annual Bitcoin Golf Championship & Kick Off Party"\ Where: Bali Hai Golf Clubhouse, 5160 S Las Vegas Blvd, Las Vegas, NV 89119\ 🎟️ Get Tickets!

Details:

• The week tees off in style with the Bitcoin Golf Championship. Swing clubs by day and swing to music by night.

• Live performances from Nostr-powered acts courtesy of Tunestr, including Ainsley Costello and others.

• Stop by the Purple Pill Booth hosted by Derek and Tanja, who will be on-boarding golfers and attendees to the decentralized social future with Nostr.

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💬 May 27–29 – Bitcoin 2025 Conference at the Las Vegas Convention Center

Location: The Venetian Resort\ Main Attraction for Nostr Fans: The Nostr Lounge\ When: All day, Tuesday through Thursday\ Where: Right outside the Open Source Stage\ 🎟️ Get Tickets!

Come chill at the Nostr Lounge, your home base for all things decentralized social. With seating for \~50, comfy couches, high-tops, and good vibes, it’s the perfect space to meet developers, community leaders, and curious newcomers building the future of censorship-resistant communication.

Bonus: Right across the aisle, you’ll find Shopstr, a decentralized marketplace app built on Nostr. Stop by their booth to explore how peer-to-peer commerce works in a truly open ecosystem.

Daily Highlights at the Lounge:

• ☕️ Hang out casually or sit down for a deeper conversation about the Nostr protocol

• 🔧 1:1 demos from app teams

• 🛍️ Merch available onsite

• 🧠 Impromptu lightning talks

• 🎤 Scheduled Meetups (details below)

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🎯 Nostr Lounge Meetups

Wednesday, May 28 @ 1:00 PM

• Damus Meetup: Come meet the team behind Damus, the OG Nostr app for iOS that helped kickstart the social revolution. They'll also be showcasing their new cross-platform app, Notedeck, designed for a more unified Nostr experience across devices. Grab some merch, get a demo, and connect directly with the developers.

Thursday, May 29 @ 1:00 PM

• Primal Meetup: Dive into Primal, the slickest Nostr experience available on web, Android, and iOS. With a built-in wallet, zapping your favorite creators and friends has never been easier. The team will be on-site for hands-on demos, Q\&A, merch giveaways, and deeper discussions on building the social layer of Bitcoin.

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🎙️ Nostr Talks at Bitcoin 2025

If you want to hear from the minds building decentralized social, make sure you attend these two official conference sessions:

1. FROSTR Workshop: Multisig Nostr Signing

• 🕚 Time: 11:30 AM – 12:00 PM

• 📅 Date: Wednesday, May 28

• 📍 Location: Developer Zone

• 🎤 Speaker: nostr:nprofile1qy2hwumn8ghj7etyv4hzumn0wd68ytnvv9hxgqgdwaehxw309ahx7uewd3hkcqpqs9etjgzjglwlaxdhsveq0qksxyh6xpdpn8ajh69ruetrug957r3qf4ggfm (Austin Kelsay) @ Voltage\ A deep-dive into FROST-based multisig key management for Nostr. Geared toward devs and power users interested in key security.

2. Panel: Decentralizing Social Media

• 🕑 Time: 2:00 PM – 2:30 PM

• 📅 Date: Thursday, May 29

• 📍 Location: Genesis Stage

• 🎙️ Moderator: nostr:nprofile1qyxhwumn8ghj7mn0wvhxcmmvqy08wumn8ghj7mn0wd68yttjv4kxz7fwv3jhyettwfhhxuewd4jsqgxnqajr23msx5malhhcz8paa2t0r70gfjpyncsqx56ztyj2nyyvlq00heps - Bitcoin Strategy @ Roxom TV

• 👥 Speakers:

• nostr:nprofile1qyt8wumn8ghj7etyv4hzumn0wd68ytnvv9hxgtcppemhxue69uhkummn9ekx7mp0qqsy2ga7trfetvd3j65m3jptqw9k39wtq2mg85xz2w542p5dhg06e5qmhlpep – Early Bitcoin dev, CEO @ Sirius Business Ltd

• nostr:nprofile1qy2hwumn8ghj7mn0wd68ytndv9kxjm3wdahxcqg5waehxw309ahx7um5wfekzarkvyhxuet5qqsw4v882mfjhq9u63j08kzyhqzqxqc8tgf740p4nxnk9jdv02u37ncdhu7e3 – Analyst & Partner @ Ego Death Capital

Get the big-picture perspective on why decentralized social matters and how Nostr fits into the future of digital communication.

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🌃 NOS VEGAS Meetup & Afterparty

Date: Wednesday, May 28\ Time: 7:00 PM – 1:00 AM\ Location: We All Scream Nightclub, 517 Fremont St., Las Vegas, NV 89101\ 🎟️ Get Tickets!

What to Expect:

• 🎶 Live Music Stage – Featuring Ainsley Costello, Sara Jade, Able James, Martin Groom, Bobby Shell, Jessie Lark, and other V4V artists

• 🪩 DJ Party Deck – With sets by nostr:nprofile1qy0hwumn8ghj7cmgdae82uewd45kketyd9kxwetj9e3k7mf6xs6rgqgcwaehxw309ahx7um5wgh85mm694ek2unk9ehhyecqyq7hpmq75krx2zsywntgtpz5yzwjyg2c7sreardcqmcp0m67xrnkwylzzk4 , nostr:nprofile1qy2hwumn8ghj7etyv4hzumn0wd68ytnvv9hxgqgkwaehxw309anx2etywvhxummnw3ezucnpdejqqg967faye3x6fxgnul77ej23l5aew8yj0x2e4a3tq2mkrgzrcvecfsk8xlu3 , and more DJs throwing down

• 🛰️ Live-streamed via Tunestr

• 🧠 Nostr Education – Talks by nostr:nprofile1qy88wumn8ghj7mn0wvhxcmmv9uq37amnwvaz7tmwdaehgu3dwfjkccte9ejx2un9ddex7umn9ekk2tcqyqlhwrt96wnkf2w9edgr4cfruchvwkv26q6asdhz4qg08pm6w3djg3c8m4j , nostr:nprofile1qy2hwumn8ghj7etyv4hzumn0wd68ytnvv9hxgqg7waehxw309anx2etywvhxummnw3ezucnpdejz7ur0wp6kcctjqqspywh6ulgc0w3k6mwum97m7jkvtxh0lcjr77p9jtlc7f0d27wlxpslwvhau , nostr:nprofile1qy88wumn8ghj7mn0wvhxcmmv9uq3vamnwvaz7tmwdaehgu3wd33xgetk9en82m30qqsgqke57uygxl0m8elstq26c4mq2erz3dvdtgxwswwvhdh0xcs04sc4u9p7d , nostr:nprofile1q9z8wumn8ghj7erzx3jkvmmzw4eny6tvw368wdt8da4kxamrdvek76mrwg6rwdngw94k67t3v36k77tev3kx7vn2xa5kjem9dp4hjepwd3hkxctvqyg8wumn8ghj7mn0wd68ytnhd9hx2qpqyaul8k059377u9lsu67de7y637w4jtgeuwcmh5n7788l6xnlnrgssuy4zk , nostr:nprofile1qy28wue69uhnzvpwxqhrqt33xgmn5dfsx5cqz9thwden5te0v4jx2m3wdehhxarj9ekxzmnyqqswavgevxe9gs43vwylumr7h656mu9vxmw4j6qkafc3nefphzpph8ssvcgf8 , and more.

• 🧾 Vendors & Project Booths – Explore new tools and services

• 🔐 Onboarding Stations – Learn how to use Nostr hands-on

• 🐦 Nostrich Flocking – Meet your favorite nyms IRL

• 🍸 Three Full Bars – Two floors of socializing overlooking vibrant Fremont Street

| | | | | ----------- | -------------------- | ------------------- | | Time | Name | Topic | | 7:30-7:50 | Derek | Nostr for Beginners | | 8:00-8:20 | Mark & Paul | Primal | | 8:30-8:50 | Terry | Damus | | 9:00-9:20 | OpenMike and Ainsley | V4V | | 09:30-09:50 | The Space | Space |

This is the after-party of the year for those who love freedom technology and decentralized social community. Don’t miss it.

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Final Thoughts

Whether you're there to learn, network, party, or build, Bitcoin 2025 in Las Vegas has a packed week of Nostr-friendly programming. Be sure to catch all the events, visit the Nostr Lounge, and experience the growing decentralized social revolution.

🟣 Find us. Flock with us. Purple pill someone.

@ b83a28b7:35919450

This article was originally part of the sermon of Plebchain Radio Episode 111 (May 2, 2025) that nostr:nprofile1qyxhwumn8ghj7mn0wvhxcmmvqyg8wumn8ghj7mn0wd68ytnvv9hxgqpqtvqc82mv8cezhax5r34n4muc2c4pgjz8kaye2smj032nngg52clq7fgefr and I did with nostr:nprofile1qythwumn8ghj7ct5d3shxtnwdaehgu3wd3skuep0qyt8wumn8ghj7ct4w35zumn0wd68yvfwvdhk6tcqyzx4h2fv3n9r6hrnjtcrjw43t0g0cmmrgvjmg525rc8hexkxc0kd2rhtk62 and nostr:nprofile1qyxhwumn8ghj7mn0wvhxcmmvqyg8wumn8ghj7mn0wd68ytnvv9hxgqpq4wxtsrj7g2jugh70pfkzjln43vgn4p7655pgky9j9w9d75u465pqahkzd0 of the nostr:nprofile1qythwumn8ghj7ct5d3shxtnwdaehgu3wd3skuep0qyt8wumn8ghj7etyv4hzumn0wd68ytnvv9hxgtcqyqwfvwrccp4j2xsuuvkwg0y6a20637t6f4cc5zzjkx030dkztt7t5hydajn

Listen to the full episode here:

<<https://fountain.fm/episode/Ln9Ej0zCZ5dEwfo8w2Ho>>

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Bitcoin has always been a narrative revolution disguised as code. White paper, cypherpunk lore, pizza‑day legends - every block is a paragraph in the world’s most relentless epic. But code alone rarely converts the skeptic; it’s the camp‑fire myth that slips past the prefrontal cortex and shakes hands with the limbic system. People don’t adopt protocols first - they fall in love with protagonists.

Early adopters heard the white‑paper hymn, but most folks need characters first: a pizza‑day dreamer; a mother in a small country, crushed by the cost of remittance; a Warsaw street vendor swapping złoty for sats. When their arcs land, the brain releases a neurochemical OP_RETURN which says, “I belong in this plot.” That’s the sly roundabout orange pill: conviction smuggled inside catharsis.

That’s why, from 22–25 May in Warsaw’s Kinoteka, the Bitcoin Film Fest is loading its reels with rebellion. Each documentary, drama, and animated rabbit‑hole is a stealth wallet, zipping conviction straight into the feels of anyone still clasped within the cold claw of fiat. You come for the plot, you leave checking block heights.

---

Here's the clip of the sermon from the episode:

nostr:nevent1qvzqqqqqqypzpwp69zm7fewjp0vkp306adnzt7249ytxhz7mq3w5yc629u6er9zsqqsy43fwz8es2wnn65rh0udc05tumdnx5xagvzd88ptncspmesdqhygcrvpf2

@ 04c915da:3dfbecc9

Bitcoin has always been rooted in freedom and resistance to authority. I get that many of you are conflicted about the US Government stacking but by design we cannot stop anyone from using bitcoin. Many have asked me for my thoughts on the matter, so let’s rip it.

Concern

One of the most glaring issues with the strategic bitcoin reserve is its foundation, built on stolen bitcoin. For those of us who value private property this is an obvious betrayal of our core principles. Rather than proof of work, the bitcoin that seeds this reserve has been taken by force. The US Government should return the bitcoin stolen from Bitfinex and the Silk Road.

Using stolen bitcoin for the reserve creates a perverse incentive. If governments see bitcoin as a valuable asset, they will ramp up efforts to confiscate more bitcoin. The precedent is a major concern, and I stand strongly against it, but it should be also noted that governments were already seizing coin before the reserve so this is not really a change in policy.

Ideally all seized bitcoin should be burned, by law. This would align incentives properly and make it less likely for the government to actively increase coin seizures. Due to the truly scarce properties of bitcoin, all burned bitcoin helps existing holders through increased purchasing power regardless. This change would be unlikely but those of us in policy circles should push for it regardless. It would be best case scenario for American bitcoiners and would create a strong foundation for the next century of American leadership.

Optimism

The entire point of bitcoin is that we can spend or save it without permission. That said, it is a massive benefit to not have one of the strongest governments in human history actively trying to ruin our lives.

Since the beginning, bitcoiners have faced horrible regulatory trends. KYC, surveillance, and legal cases have made using bitcoin and building bitcoin businesses incredibly difficult. It is incredibly important to note that over the past year that trend has reversed for the first time in a decade. A strategic bitcoin reserve is a key driver of this shift. By holding bitcoin, the strongest government in the world has signaled that it is not just a fringe technology but rather truly valuable, legitimate, and worth stacking.

This alignment of incentives changes everything. The US Government stacking proves bitcoin’s worth. The resulting purchasing power appreciation helps all of us who are holding coin and as bitcoin succeeds our government receives direct benefit. A beautiful positive feedback loop.

Realism

We are trending in the right direction. A strategic bitcoin reserve is a sign that the state sees bitcoin as an asset worth embracing rather than destroying. That said, there is a lot of work left to be done. We cannot be lulled into complacency, the time to push forward is now, and we cannot take our foot off the gas. We have a seat at the table for the first time ever. Let's make it worth it.

We must protect the right to free usage of bitcoin and other digital technologies. Freedom in the digital age must be taken and defended, through both technical and political avenues. Multiple privacy focused developers are facing long jail sentences for building tools that protect our freedom. These cases are not just legal battles. They are attacks on the soul of bitcoin. We need to rally behind them, fight for their freedom, and ensure the ethos of bitcoin survives this new era of government interest. The strategic reserve is a step in the right direction, but it is up to us to hold the line and shape the future.

@ 04c915da:3dfbecc9

Recently we have seen a wave of high profile X accounts hacked. These attacks have exposed the fragility of the status quo security model used by modern social media platforms like X. Many users have asked if nostr fixes this, so lets dive in. How do these types of attacks translate into the world of nostr apps? For clarity, I will use X’s security model as representative of most big tech social platforms and compare it to nostr.

The Status Quo

On X, you never have full control of your account. Ultimately to use it requires permission from the company. They can suspend your account or limit your distribution. Theoretically they can even post from your account at will. An X account is tied to an email and password. Users can also opt into two factor authentication, which adds an extra layer of protection, a login code generated by an app. In theory, this setup works well, but it places a heavy burden on users. You need to create a strong, unique password and safeguard it. You also need to ensure your email account and phone number remain secure, as attackers can exploit these to reset your credentials and take over your account. Even if you do everything responsibly, there is another weak link in X infrastructure itself. The platform’s infrastructure allows accounts to be reset through its backend. This could happen maliciously by an employee or through an external attacker who compromises X’s backend. When an account is compromised, the legitimate user often gets locked out, unable to post or regain control without contacting X’s support team. That process can be slow, frustrating, and sometimes fruitless if support denies the request or cannot verify your identity. Often times support will require users to provide identification info in order to regain access, which represents a privacy risk. The centralized nature of X means you are ultimately at the mercy of the company’s systems and staff.

Nostr Requires Responsibility

Nostr flips this model radically. Users do not need permission from a company to access their account, they can generate as many accounts as they want, and cannot be easily censored. The key tradeoff here is that users have to take complete responsibility for their security. Instead of relying on a username, password, and corporate servers, nostr uses a private key as the sole credential for your account. Users generate this key and it is their responsibility to keep it safe. As long as you have your key, you can post. If someone else gets it, they can post too. It is that simple. This design has strong implications. Unlike X, there is no backend reset option. If your key is compromised or lost, there is no customer support to call. In a compromise scenario, both you and the attacker can post from the account simultaneously. Neither can lock the other out, since nostr relays simply accept whatever is signed with a valid key.

The benefit? No reliance on proprietary corporate infrastructure.. The negative? Security rests entirely on how well you protect your key.

Future Nostr Security Improvements

For many users, nostr’s standard security model, storing a private key on a phone with an encrypted cloud backup, will likely be sufficient. It is simple and reasonably secure. That said, nostr’s strength lies in its flexibility as an open protocol. Users will be able to choose between a range of security models, balancing convenience and protection based on need.

One promising option is a web of trust model for key rotation. Imagine pre-selecting a group of trusted friends. If your account is compromised, these people could collectively sign an event announcing the compromise to the network and designate a new key as your legitimate one. Apps could handle this process seamlessly in the background, notifying followers of the switch without much user interaction. This could become a popular choice for average users, but it is not without tradeoffs. It requires trust in your chosen web of trust, which might not suit power users or large organizations. It also has the issue that some apps may not recognize the key rotation properly and followers might get confused about which account is “real.”

For those needing higher security, there is the option of multisig using FROST (Flexible Round-Optimized Schnorr Threshold). In this setup, multiple keys must sign off on every action, including posting and updating a profile. A hacker with just one key could not do anything. This is likely overkill for most users due to complexity and inconvenience, but it could be a game changer for large organizations, companies, and governments. Imagine the White House nostr account requiring signatures from multiple people before a post goes live, that would be much more secure than the status quo big tech model.

Another option are hardware signers, similar to bitcoin hardware wallets. Private keys are kept on secure, offline devices, separate from the internet connected phone or computer you use to broadcast events. This drastically reduces the risk of remote hacks, as private keys never touches the internet. It can be used in combination with multisig setups for extra protection. This setup is much less convenient and probably overkill for most but could be ideal for governments, companies, or other high profile accounts.

---

Nostr’s security model is not perfect but is robust and versatile. Ultimately users are in control and security is their responsibility. Apps will give users multiple options to choose from and users will choose what best fits their need.

@ 04c915da:3dfbecc9

In much of the world, it is incredibly difficult to access U.S. dollars. Local currencies are often poorly managed and riddled with corruption. Billions of people demand a more reliable alternative. While the dollar has its own issues of corruption and mismanagement, it is widely regarded as superior to the fiat currencies it competes with globally. As a result, Tether has found massive success providing low cost, low friction access to dollars. Tether claims 400 million total users, is on track to add 200 million more this year, processes 8.1 million transactions daily, and facilitates $29 billion in daily transfers. Furthermore, their estimates suggest nearly 40% of users rely on it as a savings tool rather than just a transactional currency.

Tether’s rise has made the company a financial juggernaut. Last year alone, Tether raked in over $13 billion in profit, with a lean team of less than 100 employees. Their business model is elegantly simple: hold U.S. Treasuries and collect the interest. With over $113 billion in Treasuries, Tether has turned a straightforward concept into a profit machine.

Tether’s success has resulted in many competitors eager to claim a piece of the pie. This has triggered a massive venture capital grift cycle in USD tokens, with countless projects vying to dethrone Tether. Due to Tether’s entrenched network effect, these challengers face an uphill battle with little realistic chance of success. Most educated participants in the space likely recognize this reality but seem content to perpetuate the grift, hoping to cash out by dumping their equity positions on unsuspecting buyers before they realize the reality of the situation.

Historically, Tether’s greatest vulnerability has been U.S. government intervention. For over a decade, the company operated offshore with few allies in the U.S. establishment, making it a major target for regulatory action. That dynamic has shifted recently and Tether has seized the opportunity. By actively courting U.S. government support, Tether has fortified their position. This strategic move will likely cement their status as the dominant USD token for years to come.

While undeniably a great tool for the millions of users that rely on it, Tether is not without flaws. As a centralized, trusted third party, it holds the power to freeze or seize funds at its discretion. Corporate mismanagement or deliberate malpractice could also lead to massive losses at scale. In their goal of mitigating regulatory risk, Tether has deepened ties with law enforcement, mirroring some of the concerns of potential central bank digital currencies. In practice, Tether operates as a corporate CBDC alternative, collaborating with authorities to surveil and seize funds. The company proudly touts partnerships with leading surveillance firms and its own data reveals cooperation in over 1,000 law enforcement cases, with more than $2.5 billion in funds frozen.

---

The global demand for Tether is undeniable and the company’s profitability reflects its unrivaled success. Tether is owned and operated by bitcoiners and will likely continue to push forward strategic goals that help the movement as a whole. Recent efforts to mitigate the threat of U.S. government enforcement will likely solidify their network effect and stifle meaningful adoption of rival USD tokens or CBDCs. Yet, for all their achievements, Tether is simply a worse form of money than bitcoin. Tether requires trust in a centralized entity, while bitcoin can be saved or spent without permission. Furthermore, Tether is tied to the value of the US Dollar which is designed to lose purchasing power over time, while bitcoin, as a truly scarce asset, is designed to increase in purchasing power with adoption. As people awaken to the risks of Tether’s control, and the benefits bitcoin provides, bitcoin adoption will likely surpass it.

@ 04c915da:3dfbecc9

One of the most common criticisms leveled against nostr is the perceived lack of assurance when it comes to data storage. Critics argue that without a centralized authority guaranteeing that all data is preserved, important information will be lost. They also claim that running a relay will become prohibitively expensive. While there is truth to these concerns, they miss the mark. The genius of nostr lies in its flexibility, resilience, and the way it harnesses human incentives to ensure data availability in practice.

A nostr relay is simply a server that holds cryptographically verifiable signed data and makes it available to others. Relays are simple, flexible, open, and require no permission to run. Critics are right that operating a relay attempting to store all nostr data will be costly. What they miss is that most will not run all encompassing archive relays. Nostr does not rely on massive archive relays. Instead, anyone can run a relay and choose to store whatever subset of data they want. This keeps costs low and operations flexible, making relay operation accessible to all sorts of individuals and entities with varying use cases.

Critics are correct that there is no ironclad guarantee that every piece of data will always be available. Unlike bitcoin where data permanence is baked into the system at a steep cost, nostr does not promise that every random note or meme will be preserved forever. That said, in practice, any data perceived as valuable by someone will likely be stored and distributed by multiple entities. If something matters to someone, they will keep a signed copy.

Nostr is the Streisand Effect in protocol form. The Streisand effect is when an attempt to suppress information backfires, causing it to spread even further. With nostr, anyone can broadcast signed data, anyone can store it, and anyone can distribute it. Try to censor something important? Good luck. The moment it catches attention, it will be stored on relays across the globe, copied, and shared by those who find it worth keeping. Data deemed important will be replicated across servers by individuals acting in their own interest.

Nostr’s distributed nature ensures that the system does not rely on a single point of failure or a corporate overlord. Instead, it leans on the collective will of its users. The result is a network where costs stay manageable, participation is open to all, and valuable verifiable data is stored and distributed forever.

@ 04c915da:3dfbecc9

Capitalism is the most effective system for scaling innovation. The pursuit of profit is an incredibly powerful human incentive. Most major improvements to human society and quality of life have resulted from this base incentive. Market competition often results in the best outcomes for all.

That said, some projects can never be monetized. They are open in nature and a business model would centralize control. Open protocols like bitcoin and nostr are not owned by anyone and if they were it would destroy the key value propositions they provide. No single entity can or should control their use. Anyone can build on them without permission.

As a result, open protocols must depend on donation based grant funding from the people and organizations that rely on them. This model works but it is slow and uncertain, a grind where sustainability is never fully reached but rather constantly sought. As someone who has been incredibly active in the open source grant funding space, I do not think people truly appreciate how difficult it is to raise charitable money and deploy it efficiently.

Projects that can be monetized should be. Profitability is a super power. When a business can generate revenue, it taps into a self sustaining cycle. Profit fuels growth and development while providing projects independence and agency. This flywheel effect is why companies like Google, Amazon, and Apple have scaled to global dominance. The profit incentive aligns human effort with efficiency. Businesses must innovate, cut waste, and deliver value to survive.

Contrast this with non monetized projects. Without profit, they lean on external support, which can dry up or shift with donor priorities. A profit driven model, on the other hand, is inherently leaner and more adaptable. It is not charity but survival. When survival is tied to delivering what people want, scale follows naturally.

The real magic happens when profitable, sustainable businesses are built on top of open protocols and software. Consider the many startups building on open source software stacks, such as Start9, Mempool, and Primal, offering premium services on top of the open source software they build out and maintain. Think of companies like Block or Strike, which leverage bitcoin’s open protocol to offer their services on top. These businesses amplify the open software and protocols they build on, driving adoption and improvement at a pace donations alone could never match.

When you combine open software and protocols with profit driven business the result are lean, sustainable companies that grow faster and serve more people than either could alone. Bitcoin’s network, for instance, benefits from businesses that profit off its existence, while nostr will expand as developers monetize apps built on the protocol.

Capitalism scales best because competition results in efficiency. Donation funded protocols and software lay the groundwork, while market driven businesses build on top. The profit incentive acts as a filter, ensuring resources flow to what works, while open systems keep the playing field accessible, empowering users and builders. Together, they create a flywheel of innovation, growth, and global benefit.

@ efe5d120:1fc51981

It’s not big government programs or powerful institutions that make a society strong. It’s something much simpler: everyday people trading and working together.

Think about the local hardware store owner. He helps his neighbors, gives people jobs, and provides useful tools. But when the government taxes him too much to fund its programs, it takes away money he could have used to hire someone or visit his family. That hurts both him and the people around him.

This happens all over. Small business owners, tradesmen, inventors and entrepreneurs are the ones who really build up a society. They create value by trading things people want, and both sides benefit. Free trade gives people more choices and helps them live better lives.

But from a young age, we’re told to obey authority without question. We’re taught that without rulers, there would be chaos. But what if that’s not true?

Look around the world: even when governments try to control trade, people still find ways to work together and exchange goods. It’s natural. People want to cooperate and help each other—especially when they’re free to do so.

Here’s the hard truth: if someone can take your money, control your property, and punish you without your agreement, isn’t that a kind of control—or even servitude?

True prosperity doesn’t come from the top down. It comes from people freely working together—farmers, builders, cooks, coders—offering their skills to others who need them.

When trade is free, people do well. When it’s blocked by too many rules or taxes, everyone loses—especially the ones who need help the most.

The answer isn’t more laws or more control. It’s more freedom. Next time someone says we need more government to fix things, ask yourself: wouldn’t free people solve those problems better on their own?

Real civilization isn’t about being ruled. It’s about choosing to work together, trade fairly, and respect each other’s rights. That’s not chaos—that’s freedom.

@ 21335073:a244b1ad

Someone asked for my thoughts, so I’ll share them thoughtfully. I’m not here to dictate how to promote Nostr—I’m still learning about it myself. While I’m not new to Nostr, freedom tech is a newer space for me. I’m skilled at advocating for topics I deeply understand, but freedom tech isn’t my expertise, so take my words with a grain of salt. Nothing I say is set in stone.

Those who need Nostr the most are the ones most vulnerable to censorship on other platforms right now. Reaching them requires real-time awareness of global issues and the dynamic relationships between governments and tech providers, which can shift suddenly. Effective Nostr promoters must grasp this and adapt quickly.

The best messengers are people from or closely tied to these at-risk regions—those who truly understand the local political and cultural dynamics. They can connect with those in need when tensions rise. Ideal promoters are rational, trustworthy, passionate about Nostr, but above all, dedicated to amplifying people’s voices when it matters most.

Forget influencers, corporate-backed figures, or traditional online PR—it comes off as inauthentic, corny, desperate and forced. Nostr’s promotion should be grassroots and organic, driven by a few passionate individuals who believe in Nostr and the communities they serve.

The idea that “people won’t join Nostr due to lack of reach” is nonsense. Everyone knows X’s “reach” is mostly with bots. If humans want real conversations, Nostr is the place. X is great for propaganda, but Nostr is for the authentic voices of the people.

Those spreading Nostr must be so passionate they’re willing to onboard others, which is time-consuming but rewarding for the right person. They’ll need to make Nostr and onboarding a core part of who they are. I see no issue with that level of dedication. I’ve been known to get that way myself at times. It’s fun for some folks.

With love, I suggest not adding Bitcoin promotion with Nostr outreach. Zaps already integrate that element naturally. (Still promote within the Bitcoin ecosystem, but this is about reaching vulnerable voices who needed Nostr yesterday.)

To promote Nostr, forget conventional strategies. “Influencers” aren’t the answer. “Influencers” are not the future. A trusted local community member has real influence—reach them. Connect with people seeking Nostr’s benefits but lacking the technical language to express it. This means some in the Nostr community might need to step outside of the Bitcoin bubble, which is uncomfortable but necessary. Thank you in advance to those who are willing to do that.

I don’t know who is paid to promote Nostr, if anyone. This piece isn’t shade. But it’s exhausting to see innocent voices globally silenced on corporate platforms like X while Nostr exists. Last night, I wondered: how many more voices must be censored before the Nostr community gets uncomfortable and thinks creatively to reach the vulnerable?

A warning: the global need for censorship-resistant social media is undeniable. If Nostr doesn’t make itself known, something else will fill that void. Let’s start this conversation.

@ 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! 🌸

@ 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

@ 2183e947:f497b975

Most darknet markets (DNMs) are designed poorly in the following ways:

1. Hosting

Most DNMs use a model whereby merchants fill out a form to create their listings, and the data they submit then gets hosted on the DNM's servers. In scenarios where a "legal" website would be forced to censor that content (e.g. a DMCA takedown order), DNMs, of course, do not obey. This can lead to authorities trying to find the DNM's servers to take enforcement actions against them. This design creates a single point of failure.

A better design is to outsource hosting to third parties. Let merchants host their listings on nostr relays, not on the DNM's server. The DNM should only be designed as an open source interface for exploring listings hosted elsewhere, that way takedown orders end up with the people who actually host the listings, i.e. with nostr relays, and not with the DNM itself. And if a nostr relay DOES go down due to enforcement action, it does not significantly affect the DNM -- they'll just stop querying for listings from that relay in their next software update, because that relay doesn't work anymore, and only query for listings from relays that still work.

2. Moderation

Most DNMs have employees who curate the listings on the DNM. For example, they approve/deny listings depending on whether they fit the content policies of the website. Some DNMs are only for drugs, others are only for firearms. The problem is, to approve a criminal listing is, in the eyes of law enforcement, an act of conspiracy. Consequently, they don't just go after the merchant who made the listing but the moderators who approved it, and since the moderators typically act under the direction of the DNM, this means the police go after the DNM itself.

A better design is to outsource moderation to third parties. Let anyone call themselves a moderator and create lists of approved goods and services. Merchants can pay the most popular third party moderators to add their products to their lists. The DNM itself just lets its users pick which moderators to use, such that the user's choice -- and not a choice by the DNM -- determines what goods and services the user sees in the interface.

That way, the police go after the moderators and merchants rather than the DNM itself, which is basically just a web browser: it doesn't host anything or approve of any content, it just shows what its users tell it to show. And if a popular moderator gets arrested, his list will still work for a while, but will gradually get more and more outdated, leading someone else to eventually become the new most popular moderator, and a natural transition can occur.

3. Escrow

Most DNMs offer an escrow solution whereby users do not pay merchants directly. Rather, during the Checkout process, they put their money in escrow, and request the DNM to release it to the merchant when the product arrives, otherwise they initiate a dispute. Most DNMs consider escrow necessary because DNM users and merchants do not trust one another; users don't want to pay for a product first and then discover that the merchant never ships it, and merchants don't want to ship a product first and then discover that the user never pays for it.

The problem is, running an escrow solution for criminals is almost certain to get you accused of conspiracy, money laundering, and unlicensed money transmission, so the police are likely to shut down any DNM that does this. A better design is to oursource escrow to third parties. Let anyone call themselves an escrow, and let moderators approve escrows just like they approve listings. A merchant or user who doesn't trust the escrows chosen by a given moderator can just pick a different moderator. That way, the police go after the third party escrows rather than the DNM itself, which never touches user funds.

4. Consequences

Designing a DNM along these principles has an interesting consequence: the DNM is no longer anything but an interface, a glorified web browser. It doesn't host any content, approve any listings, or touch any money. It doesn't even really need a server -- it can just be an HTML file that users open up on their computer or smart phone. For two reasons, such a program is hard to take down:

First, it is hard for the police to justify going after the DNM, since there are no charges to bring. Its maintainers aren't doing anything illegal, no more than Firefox does anything illegal by maintaining a web browser that some people use to browse illegal content. What the user displays in the app is up to them, not to the code maintainers. Second, if the police decided to go after the DNM anyway, they still couldn't take it down because it's just an HTML file -- the maintainers do not even need to run a server to host the file, because users can share it with one another, eliminating all single points of failure.

Another consequence of this design is this: most of the listings will probably be legal, because there is more demand for legal goods and services than illegal ones. Users who want to find illegal goods would pick moderators who only approve those listings, but everyone else would use "legal" moderators, and the app would not, at first glance, look much like a DNM, just a marketplace for legal goods and services. To find the illegal stuff that lurks among the abundant legal stuff, you'd probably have to filter for it via your selection of moderators, making it seem like the "default" mode is legal.

5. Conclusion

I think this DNM model is far better than the designs that prevail today. It is easier to maintain, harder to take down, and pushes the "hard parts" to the edges, so that the DNM is not significantly affected even if a major merchant, moderator, or escrow gets arrested. I hope it comes to fruition.

@ 21335073:a244b1ad

Please respect Virginia Giuffre’s memory by refraining from asking about the circumstances or theories surrounding her passing.

Since Virginia Giuffre’s death, I’ve reflected on what she would want me to say or do. This piece is my attempt to honor her legacy.

When I first spoke with Virginia, I was struck by her unshakable hope. I had grown cynical after years in the anti-human trafficking movement, worn down by a broken system and a government that often seemed complicit. But Virginia’s passion, creativity, and belief that survivors could be heard reignited something in me. She reminded me of my younger, more hopeful self. Instead of warning her about the challenges ahead, I let her dream big, unburdened by my own disillusionment. That conversation changed me for the better, and following her lead led to meaningful progress.

Virginia was one of the bravest people I’ve ever known. As a survivor of Epstein, Maxwell, and their co-conspirators, she risked everything to speak out, taking on some of the world’s most powerful figures.

She loved when I said, “Epstein isn’t the only Epstein.” This wasn’t just about one man—it was a call to hold all abusers accountable and to ensure survivors find hope and healing.

The Epstein case often gets reduced to sensational details about the elite, but that misses the bigger picture. Yes, we should be holding all of the co-conspirators accountable, we must listen to the survivors’ stories. Their experiences reveal how predators exploit vulnerabilities, offering lessons to prevent future victims.

You’re not powerless in this fight. Educate yourself about trafficking and abuse—online and offline—and take steps to protect those around you. Supporting survivors starts with small, meaningful actions. Free online resources can guide you in being a safe, supportive presence.

When high-profile accusations arise, resist snap judgments. Instead of dismissing survivors as “crazy,” pause to consider the trauma they may be navigating. Speaking out or coping with abuse is never easy. You don’t have to believe every claim, but you can refrain from attacking accusers online.

Society also fails at providing aftercare for survivors. The government, often part of the problem, won’t solve this. It’s up to us. Prevention is critical, but when abuse occurs, step up for your loved ones and community. Protect the vulnerable. it’s a challenging but a rewarding journey.

If you’re contributing to Nostr, you’re helping build a censorship resistant platform where survivors can share their stories freely, no matter how powerful their abusers are. Their voices can endure here, offering strength and hope to others. This gives me great hope for the future.

Virginia Giuffre’s courage was a gift to the world. It was an honor to know and serve her. She will be deeply missed. My hope is that her story inspires others to take on the powerful.

@ 52b4a076:e7fad8bd

I have been recently building NFDB, a new relay DB. This post is meant as a short overview.

Regular relays have challenges

Current relay software have significant challenges, which I have experienced when hosting Nostr.land: - Scalability is only supported by adding full replicas, which does not scale to large relays. - Most relays use slow databases and are not optimized for large scale usage. - Search is near-impossible to implement on standard relays. - Privacy features such as NIP-42 are lacking. - Regular DB maintenance tasks on normal relays require extended downtime. - Fault-tolerance is implemented, if any, using a load balancer, which is limited. - Personalization and advanced filtering is not possible. - Local caching is not supported.

NFDB: A scalable database for large relays

NFDB is a new database meant for medium-large scale relays, built on FoundationDB that provides: - Near-unlimited scalability - Extended fault tolerance - Instant loading - Better search - Better personalization - and more.

Search

NFDB has extended search capabilities including: - Semantic search: Search for meaning, not words. - Interest-based search: Highlight content you care about. - Multi-faceted queries: Easily filter by topic, author group, keywords, and more at the same time. - Wide support for event kinds, including users, articles, etc.

Personalization

NFDB allows significant personalization: - Customized algorithms: Be your own algorithm. - Spam filtering: Filter content to your WoT, and use advanced spam filters. - Topic mutes: Mute topics, not keywords. - Media filtering: With Nostr.build, you will be able to filter NSFW and other content - Low data mode: Block notes that use high amounts of cellular data. - and more

Other

NFDB has support for many other features such as: - NIP-42: Protect your privacy with private drafts and DMs - Microrelays: Easily deploy your own personal microrelay - Containers: Dedicated, fast storage for discoverability events such as relay lists

Calcite: A local microrelay database

Calcite is a lightweight, local version of NFDB that is meant for microrelays and caching, meant for thousands of personal microrelays.

Calcite HA is an additional layer that allows live migration and relay failover in under 30 seconds, providing higher availability compared to current relays with greater simplicity. Calcite HA is enabled in all Calcite deployments.

For zero-downtime, NFDB is recommended.

Noswhere SmartCache

Relays are fixed in one location, but users can be anywhere.

Noswhere SmartCache is a CDN for relays that dynamically caches data on edge servers closest to you, allowing: - Multiple regions around the world - Improved throughput and performance - Faster loading times

routerd

routerd is a custom load-balancer optimized for Nostr relays, integrated with SmartCache.

routerd is specifically integrated with NFDB and Calcite HA to provide fast failover and high performance.

Ending notes

NFDB is planned to be deployed to Nostr.land in the coming weeks.

A lot more is to come. 👀️️️️️️

@ 472f440f:5669301e

Marty's Bent

via me

Don't sleep on what's happening in Japan right now. We've been covering the country and the fact that they've lost control of their yield curve since late last year. After many years of making it a top priority from a monetary policy perspective, last year the Bank of Japan decided to give up on yield curve control in an attempt to reel inflation. This has sent yields for the 30-year and 40-year Japanese government bonds to levels not seen since the early 2000s in the case of the 30-year and levels never before seen for the 40-year, which was launched in 2007. With a debt to GDP ratio that has surpassed 250% and a population that is aging out with an insufficient amount of births to replace the aging workforce, it's hard to see how Japan can get out of this conundrum without some sort of economic collapse.

This puts the United States in a tough position considering the fact that Japan is one of the largest holders of U.S. Treasury bonds with more than 1,135 sats | $1.20 trillion in exposure. If things get too out of control in Japan and the yield curve continues to drift higher and inflation continues to creep higher Japan can find itself in a situation where it's a forced seller of US Treasuries as they attempt to strengthen the yen. Another aspect to consider is the fact that investors may see the higher yields on Japanese government bonds and decide to purchase them instead of US Treasuries. This is something to keep an eye on in the weeks to come. Particularly if higher rates drive a higher cost of capital, which leads to even more inflation. As producers are forced to increase their prices to ensure that they can manage their debt repayments.

It's never a good sign when the Japanese Prime Minister is coming out to proclaim that his country's financial situation is worse than Greece's, which has been a laughing stock of Europe for the better part of three decades. Japan is a very proud nation, and the fact that its Prime Minister made a statement like this should not be underappreciated.

As we noted last week, the 10-year and 30-year U.S. Treasury bonds are drifting higher as well. Earlier today, the 30-year bond yield surpassed 5%, which has been a psychological level that many have been pointed to as a critical tipping point. When you take a step back and look around the world it seems pretty clear that bond markets are sending a very strong signal. And that signal is that something is not well in the back end of the financial system.

This is even made clear when you look at the private sector, particularly at consumer debt. In late March, we warned of the growing trend of buy now, pay later schemes drifting down market as major credit card companies released charge-off data which showed charge-off rates reaching levels not seen since the 2008 great financial crisis. At the time, we could only surmise that Klarna was experiencing similar charge-off rates on the bigger-ticket items they financed and started doing deals with companies like DoorDash to finance burrito deliveries in an attempt to move down market to finance smaller ticket items with a higher potential of getting paid back. It seems like that inclination was correct as Klarna released data earlier today showing more losses on their book as consumers find it extremely hard to pay back their debts.

via NewsWire

This news hit the markets on the same day as the average rate of the 30-year mortgage in the United States rose to 7.04%. I'm not sure if you've checked lately, but real estate prices are still relatively elevated outside of a few big cities who expanded supply significantly during the COVID era as people flooded out of blue states towards red states. It's hard to imagine that many people can afford a house based off of sticker price alone, but with a 7% 30-year mortgage rate it's becoming clear that the ability of the Common Man to buy a house is simply becoming impossible.

via Lance Lambert

The mortgage rate data is not the only thing you need to look at to understand that it's becoming impossible for the Common Man of working age to buy a house. New data has recently been released that highlights That the median home buyer in 2007 was born in 1968, and the median home buyer in 2024 was born in 1968. Truly wild when you think of it. As our friend Darth Powell cheekily highlights below, we find ourselves in a situation where boomers are simply trading houses and the younger generations are becoming indentured slaves. Forever destined to rent because of the complete inability to afford to buy a house.

via Darth Powell

via Yahoo Finance

Meanwhile, Bitcoin re-approached all-time highs late this evening and looks primed for another breakout to the upside. This makes sense if you're paying attention. The high-velocity trash economy running on an obscene amount of debt in both the public and private sectors seems to be breaking at the seams. All the alarm bells are signaling that another big print is coming. And if you hope to preserve your purchasing power or, ideally, increase it as the big print approaches, the only thing that makes sense is to funnel your money into the hardest asset in the world, which is Bitcoin.

via Bitbo

Buckle up, freaks. It's gonna be a bumpy ride. Stay humble, Stack Sats.

Trump's Middle East Peace Strategy: Redefining U.S. Foreign Policy

In his recent Middle East tour, President Trump signaled what our guest Dr. Anas Alhajji calls "a major change in US policy." Trump explicitly rejected the nation-building strategies of his predecessors, contrasting the devastation in Afghanistan and Iraq with the prosperity of countries like Saudi Arabia and UAE. This marks a profound shift from both Republican and Democratic foreign policy orthodoxy. As Alhajji noted, Trump's willingness to meet with Syrian President Assad follows a historical pattern where former adversaries eventually become diplomatic partners.

"This is really one of the most important shifts in US foreign policy to say, look, sorry, we destroyed those countries because we tried to rebuild them and it was a big mistake." - Dr. Anas Alhajji

The administration's new approach emphasizes negotiation over intervention. Rather than military solutions, Trump is engaging with groups previously considered off-limits, including the Houthis, Hamas, and Iran. This pragmatic stance prioritizes economic cooperation and regional stability over ideological confrontation. The focus on trade deals and investment rather than regime change represents a fundamental reimagining of America's role in the Middle East.

Check out the full podcast here for more on the Iran nuclear situation, energy market predictions, and why AI development could create power grid challenges. Only on TFTC Studio.

Headlines of the Day

Bitcoin Soars to 100,217 sats | $106.00K While Bonds Lose 40% Since 2020 - via X

US Senate Advances Stablecoin Bill As America Embraces Bitcoin - via X

Get our new STACK SATS hat - via tftcmerch.io

Texas House Debates Bill For State-Run Bitcoin Reserve - via X

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Take the First Step Off the Exchange

Bitkey is an easy, secure way to move your Bitcoin into self-custody. With simple setup and built-in recovery, it’s the perfect starting point for getting your coins off centralized platforms and into cold storage—no complexity, no middlemen.

Take control. Start with Bitkey.

Use the promo code “TFTC20” during checkout for 20% off

---

Ten31, the largest bitcoin-focused investor, has deployed 158,469 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...

Don't let the noise consume you. Focus on making your life 1% better every day.

---

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@ 472f440f:5669301e

Marty's Bent

https://www.youtube.com/watch?v=p0Sj1sG05VQ

Here's a great presentation from our good friend nostr:nprofile1qyx8wumn8ghj7cnjvghxjmcpp4mhxue69uhkummn9ekx7mqqyz2hj3zg2g3pqwxuhg69zgjhke4pcmjmmdpnndnefqndgqjt8exwj6ee8v7 , President of The Nakamoto Institute titled Hodl for Good. He gave it earlier this year at the BitBlockBoom Conference, and I think it's something everyone reading this should take 25 minutes to watch. Especially if you find yourself wondering whether or not it's a good idea to spend bitcoin at any given point in time. Michael gives an incredible Austrian Economics 101 lesson on the importance of lowering one's time preference and fully understanding the importance of hodling bitcoin. For the uninitiated, it may seem that the hodl meme is nothing more than a call to hoard bitcoins in hopes of getting rich eventually. However, as Michael points out, there's layers to the hodl meme and the good that hodling can bring individuals and the economy overall.

The first thing one needs to do to better understand the hodl meme is to completely flip the framing that is typically thrust on bitcoiners who encourage others to hodl. Instead of ceding that hodling is a greedy or selfish action, remind people that hodling, or better known as saving, is the foundation of capital formation, from which all productive and efficient economic activity stems. Number go up technology is great and it really matters. It matters because it enables anybody leveraging that technology to accumulate capital that can then be allocated toward productive endeavors that bring value to the individual who creates them and the individual who buys them.

When one internalizes this, it enables them to turn to personal praxis and focus on minimizing present consumption while thinking of ways to maximize long-term value creation. Live below your means, stack sats, and use the time that you're buying to think about things that you want in the future. By lowering your time preference and saving in a harder money you will have the luxury of demanding higher quality goods in the future. Another way of saying this is that you will be able to reshape production by voting with your sats. Initially when you hold them off the market by saving them - signaling that the market doesn't have goods worthy of your sats - and ultimately by redeploying them into the market when you find higher quality goods that meet the standards desire.

The first part of this equation is extremely important because it sends a signal to producers that they need to increase the quality of their work. As more and more individuals decide to use bitcoin as their savings technology, the signal gets stronger. And over many cycles we should begin to see low quality cheap goods exit the market in favor of higher quality goods that provide more value and lasts longer and, therefore, make it easier for an individual to depart with their hard-earned and hard-saved sats. This is only but one aspect that Michael tries to imbue throughout his presentation.

The other is the ability to buy yourself leisure time when you lower your time preference and save more than you spend. When your savings hit a critical tipping point that gives you the luxury to sit back and experience true leisure, which Michael explains is not idleness, but the contemplative space to study, create art, refine taste, and to find what "better goods" actually are. Those who can experience true leisure while reaping the benefits of saving in a hard asset that is increasing in purchasing power significantly over the long term are those who build truly great things. Things that outlast those who build them. Great art, great monuments, great institutions were all built by men who were afforded the time to experience leisure. Partly because they were leveraging hard money as their savings and the place they stored the profits reaped from their entrepreneurial endeavors.

If you squint and look into the future a couple of decades, it isn't hard to see a reality like this manifesting. As more people begin to save in Bitcoin, the forces of supply and demand will continue to come into play. There will only ever be 21 million bitcoin, there are around 8 billion people on this planet, and as more of those 8 billion individuals decide that bitcoin is the best savings vehicle, the price of bitcoin will rise.

When the price of bitcoin rises, it makes all other goods cheaper in bitcoin terms and, again, expands the entrepreneurial opportunity. The best part about this feedback loop is that even non-holders of bitcoin benefit through higher real wages and faster tech diffusion. The individuals and business owners who decide to hodl bitcoin will bring these benefits to the world whether you decide to use bitcoin or not.

This is why it is virtuous to hodl bitcoin. The potential for good things to manifest throughout the world increase when more individuals decide to hodl bitcoin. And as Michael very eloquently points out, this does not mean that people will not spend their bitcoin. It simply means that they have standards for the things that they will spend their bitcoin on. And those standards are higher than most who are fully engrossed in the high velocity trash economy have today.

In my opinion, one of those higher causes worthy of a sats donation is nostr:nprofile1qyfhwumn8ghj7enjv4jhyetvv9uju7re0gq3uamnwvaz7tmfdemxjmrvv9nk2tt0w468v6tvd3skwefwvdhk6qpqwzc9lz2f40azl98shkjewx3pywg5e5alwqxg09ew2mdyeey0c2rqcfecft . Consider donating so they can preserve and disseminate vital information about bitcoin and its foundations.

The Shell Game: How Health Narratives May Distract from Vaccine Risks

In our recent podcast, Dr. Jack Kruse presented a concerning theory about public health messaging. He argues that figures like Casey and Callie Means are promoting food and exercise narratives as a deliberate distraction from urgent vaccine issues. While no one disputes healthy eating matters, Dr. Kruse insists that focusing on "Froot Loops and Red Dye" diverts attention from what he sees as immediate dangers of mRNA vaccines, particularly for children.

"It's gonna take you 50 years to die from processed food. But the messenger jab can drop you like Damar Hamlin." - Dr Jack Kruse

Dr. Kruse emphasized that approximately 25,000 children per month are still receiving COVID vaccines despite concerns, with 3 million doses administered since Trump's election. This "shell game," as he describes it, allows vaccines to remain on childhood schedules while public attention fixates on less immediate health threats. As host, I believe this pattern deserves our heightened scrutiny given the potential stakes for our children's wellbeing.

Check out the full podcast here for more on Big Pharma's alleged bioweapons program, the "Time Bank Account" concept, and how Bitcoin principles apply to health sovereignty.

Headlines of the Day

Aussie Judge: Bitcoin is Money, Possibly CGT-Exempt - via X

JPMorgan to Let Clients Buy Bitcoin Without Direct Custody - via X

Get our new STACK SATS hat - via tftcmerch.io

Mubadala Acquires 384,239 sats | $408.50M Stake in BlackRock Bitcoin ETF - via X

---

Take the First Step Off the Exchange

Bitkey is an easy, secure way to move your Bitcoin into self-custody. With simple setup and built-in recovery, it’s the perfect starting point for getting your coins off centralized platforms and into cold storage—no complexity, no middlemen.

Take control. Start with Bitkey.

Use the promo code “TFTC20” during checkout for 20% off

---

Ten31, the largest bitcoin-focused investor, has deployed 158,469 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.

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Final thought...

I've been walking from my house around Town Lake in Austin in the mornings and taking calls on the walk. Big fan of a walking call.

---

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@ a39d19ec:3d88f61e

Die Debatte um Migration, Grenzsicherung und Abschiebungen wird in Deutschland meist emotional geführt. Wer fordert, dass illegale Einwanderer abgeschoben werden, sieht sich nicht selten dem Vorwurf des Rassismus ausgesetzt. Doch dieser Vorwurf ist nicht nur sachlich unbegründet, sondern verkehrt die Realität ins Gegenteil: Tatsächlich sind es gerade diejenigen, die hinter jeder Forderung nach Rechtssicherheit eine rassistische Motivation vermuten, die selbst in erster Linie nach Hautfarbe, Herkunft oder Nationalität urteilen.

Das Recht steht über Emotionen

Deutschland ist ein Rechtsstaat. Das bedeutet, dass Regeln nicht nach Bauchgefühl oder politischer Stimmungslage ausgelegt werden können, sondern auf klaren gesetzlichen Grundlagen beruhen müssen. Einer dieser Grundsätze ist in Artikel 16a des Grundgesetzes verankert. Dort heißt es:

„Auf Absatz 1 [Asylrecht] kann sich nicht berufen, wer aus einem Mitgliedstaat der Europäischen Gemeinschaften oder aus einem anderen Drittstaat einreist, in dem die Anwendung des Abkommens über die Rechtsstellung der Flüchtlinge und der Europäischen Menschenrechtskonvention sichergestellt ist.“

Das bedeutet, dass jeder, der über sichere Drittstaaten nach Deutschland einreist, keinen Anspruch auf Asyl hat. Wer dennoch bleibt, hält sich illegal im Land auf und unterliegt den geltenden Regelungen zur Rückführung. Die Forderung nach Abschiebungen ist daher nichts anderes als die Forderung nach der Einhaltung von Recht und Gesetz.

Die Umkehrung des Rassismusbegriffs

Wer einerseits behauptet, dass das deutsche Asyl- und Aufenthaltsrecht strikt durchgesetzt werden soll, und andererseits nicht nach Herkunft oder Hautfarbe unterscheidet, handelt wertneutral. Diejenigen jedoch, die in einer solchen Forderung nach Rechtsstaatlichkeit einen rassistischen Unterton sehen, projizieren ihre eigenen Denkmuster auf andere: Sie unterstellen, dass die Debatte ausschließlich entlang ethnischer, rassistischer oder nationaler Kriterien geführt wird – und genau das ist eine rassistische Denkweise.

Jemand, der illegale Einwanderung kritisiert, tut dies nicht, weil ihn die Herkunft der Menschen interessiert, sondern weil er den Rechtsstaat respektiert. Hingegen erkennt jemand, der hinter dieser Kritik Rassismus wittert, offenbar in erster Linie die „Rasse“ oder Herkunft der betreffenden Personen und reduziert sie darauf.

Finanzielle Belastung statt ideologischer Debatte

Neben der rechtlichen gibt es auch eine ökonomische Komponente. Der deutsche Wohlfahrtsstaat basiert auf einem Solidarprinzip: Die Bürger zahlen in das System ein, um sich gegenseitig in schwierigen Zeiten zu unterstützen. Dieser Wohlstand wurde über Generationen hinweg von denjenigen erarbeitet, die hier seit langem leben. Die Priorität liegt daher darauf, die vorhandenen Mittel zuerst unter denjenigen zu verteilen, die durch Steuern, Sozialabgaben und Arbeit zum Erhalt dieses Systems beitragen – nicht unter denen, die sich durch illegale Einreise und fehlende wirtschaftliche Eigenleistung in das System begeben.

Das ist keine ideologische Frage, sondern eine rein wirtschaftliche Abwägung. Ein Sozialsystem kann nur dann nachhaltig funktionieren, wenn es nicht unbegrenzt belastet wird. Würde Deutschland keine klaren Regeln zur Einwanderung und Abschiebung haben, würde dies unweigerlich zur Überlastung des Sozialstaates führen – mit negativen Konsequenzen für alle.

Sozialpatriotismus

Ein weiterer wichtiger Aspekt ist der Schutz der Arbeitsleistung jener Generationen, die Deutschland nach dem Zweiten Weltkrieg mühsam wieder aufgebaut haben. Während oft betont wird, dass die Deutschen moralisch kein Erbe aus der Zeit vor 1945 beanspruchen dürfen – außer der Verantwortung für den Holocaust –, ist es umso bedeutsamer, das neue Erbe nach 1945 zu respektieren, das auf Fleiß, Disziplin und harter Arbeit beruht. Der Wiederaufbau war eine kollektive Leistung deutscher Menschen, deren Früchte nicht bedenkenlos verteilt werden dürfen, sondern vorrangig denjenigen zugutekommen sollten, die dieses Fundament mitgeschaffen oder es über Generationen mitgetragen haben.

Rechtstaatlichkeit ist nicht verhandelbar

Wer sich für eine konsequente Abschiebepraxis ausspricht, tut dies nicht aus rassistischen Motiven, sondern aus Respekt vor der Rechtsstaatlichkeit und den wirtschaftlichen Grundlagen des Landes. Der Vorwurf des Rassismus in diesem Kontext ist daher nicht nur falsch, sondern entlarvt eine selektive Wahrnehmung nach rassistischen Merkmalen bei denjenigen, die ihn erheben.

@ 472f440f:5669301e

Marty's Bent

It's been a pretty historic week for the United States as it pertains to geopolitical relations in the Middle East. President Trump and many members of his administration, including AI and Crypto Czar David Sacks and Treasury Secretary Scott Bessent, traveled across the Middle East making deals with countries like Qatar, Saudi Arabia, the United Arab Emirates, Syria, and others. Many are speculating that Iran may be included in some behind the scenes deal as well. This trip to the Middle East makes sense considering the fact that China is also vying for favorable relationships with those countries. The Middle East is a power player in the world, and it seems pretty clear that Donald Trump is dead set on ensuring that they choose the United States over China as the world moves towards a more multi-polar reality.

Many are calling the events of this week the Riyadh Accords. There were many deals that were struck in relation to artificial intelligence, defense, energy and direct investments in the United States. A truly prolific power play and demonstration of deal-making ability of Donald Trump, if you ask me. Though I will admit some of the numbers that were thrown out by some of the countries were a bit egregious. We shall see how everything plays out in the coming years. It will be interesting to see how China reacts to this power move by the United States.

While all this was going on, there was something happening back in the United States that many people outside of fringe corners of FinTwit are not talking about, which is the fact that the 10-year and 30-year U.S. Treasury bond yields are back on the rise. Yesterday, they surpassed the levels of mid-April that caused a market panic and are hovering back around levels that have not been seen since right before Donald Trump's inauguration.

I imagine that there isn't as much of an uproar right now because I'm pretty confident the media freakouts we were experiencing in mid-April were driven by the fact that many large hedge funds found themselves off sides of large levered basis trades. I wouldn't be surprised if those funds have decreased their leverage in those trades and bond yields being back to mid-April levels is not affecting those funds as much as they were last month. But the point stands, the 10-year and 30-year yields are significantly elevated with the 30-year approaching 5%. Regardless of the deals that are currently being made in the Middle East, the Treasury has a big problem on its hands. It still has to roll over many trillions worth of debt over over the next few years and doing so at these rates is going to be massively detrimental to fiscal deficits over the next decade. The interest expense on the debt is set to explode in the coming years.

On that note, data from the first quarter of 2025 has been released by the government and despite all the posturing by the Trump administration around DOGE and how tariffs are going to be beneficial for the U.S. economy, deficits are continuing to explode while the interest expense on the debt has definitively surpassed our annual defense budget.

via Charlie Bilello

via Mohamed Al-Erian

To make matters worse, as things are deteriorating on the fiscal side of things, the U.S. consumer is getting crushed by credit. The 90-plus day delinquency rates for credit card and auto loans are screaming higher right now.

via TXMC

One has to wonder how long all this can continue without some sort of liquidity crunch. Even though equities markets have recovered from their post-Liberation Day month long bear market, I would not be surprised if what we're witnessing is a dead cat bounce that can only be continued if the money printers are turned back on. Something's got to give, both on the fiscal side and in the private markets where the Common Man is getting crushed because he's been forced to take on insane amounts of debt to stay afloat after years of elevated levels of inflation. Add on the fact that AI has reached a state of maturity that will enable companies to replace their current meat suit workers with an army of cheap, efficient and fast digital workers and it isn't hard to see that some sort of employment crisis could be on the horizon as well.

Now is not the time to get complacent. While I do believe that the deals that are currently being made in the Middle East are probably in the best interest of the United States as the world, again, moves toward a more multi-polar reality, we are facing problems that one cannot simply wish away. They will need to be confronted. And as we've seen throughout the 21st century, the problems are usually met head-on with a money printer.

I take no pleasure in saying this because it is a bit uncouth to be gleeful to benefit from the strife of others, but it is pretty clear to me that all signs are pointing to bitcoin benefiting massively from everything that is going on. The shift towards a more multi-polar world, the runaway debt situation here in the United States, the increasing deficits, the AI job replacements and the consumer credit crisis that is currently unfolding, All will need to be "solved" by turning on the money printers to levels they've never been pushed to before.

Weird times we're living in.

China's Manufacturing Dominance: Why It Matters for the U.S.

In my recent conversation with Lyn Alden, she highlighted how China has rapidly ascended the manufacturing value chain. As Lyn pointed out, China transformed from making "sneakers and plastic trinkets" to becoming the world's largest auto exporter in just four years. This dramatic shift represents more than economic success—it's a strategic power play. China now dominates solar panel production with greater market control than OPEC has over oil and maintains near-monopoly control of rare earth elements crucial for modern technology.

"China makes like 10 times more steel than the United States does... which is relevant in ship making. It's relevant in all sorts of stuff." - Lyn Alden

Perhaps most concerning, as Lyn emphasized, is China's financial leverage. They hold substantial U.S. assets that could be strategically sold to disrupt U.S. treasury market functioning. This combination of manufacturing dominance, resource control, and financial leverage gives China significant negotiating power in any trade disputes, making our attempts to reshoring manufacturing all the more challenging.

Check out the full podcast here for more on Triffin's dilemma, Bitcoin's role in monetary transition, and the energy requirements for rebuilding America's industrial base.

Headlines of the Day

Financial Times Under Fire Over MicroStrategy Bitcoin Coverage - via X

Trump in Qatar: Historic Boeing Deal Signed - via X

Get our new STACK SATS hat - via tftcmerch.io

Johnson Backs Stock Trading Ban; Passage Chances Slim - via X

---

Take the First Step Off the Exchange

Bitkey is an easy, secure way to move your Bitcoin into self-custody. With simple setup and built-in recovery, it’s the perfect starting point for getting your coins off centralized platforms and into cold storage—no complexity, no middlemen.

Take control. Start with Bitkey.

Use the promo code “TFTC20” during checkout for 20% off

---

Ten31, the largest bitcoin-focused investor, has deployed 158,469 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...

Building things of value is satisfying.

---

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@ c631e267:c2b78d3e

Die zwei mächtigsten Krieger sind Geduld und Zeit. \ Leo Tolstoi

Zum Wohle unserer Gesundheit, unserer Leistungsfähigkeit und letztlich unseres Glücks ist es wichtig, die eigene Energie bewusst zu pflegen. Das gilt umso mehr für an gesellschaftlichen Themen interessierte, selbstbewusste und kritisch denkende Menschen. Denn für deren Wahrnehmung und Wohlbefinden waren und sind die rasanten, krisen- und propagandagefüllten letzten Jahre in Absurdistan eine harte Probe.

Nur wer regelmäßig Kraft tankt und Wege findet, mit den Herausforderungen umzugehen, kann eine solche Tortur überstehen, emotionale Erschöpfung vermeiden und trotz allem zufrieden sein. Dazu müssen wir erkunden, was uns Energie gibt und was sie uns raubt. Durch Selbstreflexion und Achtsamkeit finden wir sicher Dinge, die uns erfreuen und inspirieren, und andere, die uns eher stressen und belasten.

Die eigene Energie ist eng mit unserer körperlichen und mentalen Gesundheit verbunden. Methoden zur Förderung der körperlichen Gesundheit sind gut bekannt: eine ausgewogene Ernährung, regelmäßige Bewegung sowie ausreichend Schlaf und Erholung. Bei der nicht minder wichtigen emotionalen Balance wird es schon etwas komplizierter. Stress abzubauen, die eigenen Grenzen zu kennen oder solche zum Schutz zu setzen sowie die Konzentration auf Positives und Sinnvolles wären Ansätze.

Der emotionale ist auch der Bereich, über den «Energie-Räuber» bevorzugt attackieren. Das sind zum Beispiel Dinge wie Überforderung, Perfektionismus oder mangelhafte Kommunikation. Social Media gehören ganz sicher auch dazu. Sie stehlen uns nicht nur Zeit, sondern sind höchst manipulativ und erhöhen laut einer aktuellen Studie das Risiko für psychische Probleme wie Angstzustände und Depressionen.

Geben wir negativen oder gar bösen Menschen keine Macht über uns. Das Dauerfeuer der letzten Jahre mit Krisen, Konflikten und Gefahren sollte man zwar kennen, darf sich aber davon nicht runterziehen lassen. Das Ziel derartiger konzertierter Aktionen ist vor allem, unsere innere Stabilität zu zerstören, denn dann sind wir leichter zu steuern. Aber Geduld: Selbst vermeintliche «Sonnenköniginnen» wie EU-Kommissionspräsidentin von der Leyen fallen, wenn die Zeit reif ist.

Es ist wichtig, dass wir unsere ganz eigenen Bedürfnisse und Werte erkennen. Unsere Energiequellen müssen wir identifizieren und aktiv nutzen. Dazu gehören soziale Kontakte genauso wie zum Beispiel Hobbys und Leidenschaften. Umgeben wir uns mit Sinnhaftigkeit und lassen wir uns nicht die Energie rauben!

Mein Wahlspruch ist schon lange: «Was die Menschen wirklich bewegt, ist die Kultur.» Jetzt im Frühjahr beginnt hier in Andalusien die Zeit der «Ferias», jener traditionellen Volksfeste, die vor Lebensfreude sprudeln. Konzentrieren wir uns auf die schönen Dinge und auf unsere eigenen Talente – soziale Verbundenheit wird helfen, unsere innere Kraft zu stärken und zu bewahren.

[Titelbild: Pixabay]

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Dieser Beitrag wurde mit dem Pareto-Client geschrieben und ist zuerst auf Transition News erschienen.

@ e3ba5e1a:5e433365

Prelude

I wrote this post differently than any of my others. It started with a discussion with AI on an OPSec-inspired review of separation of powers, and evolved into quite an exciting debate! I asked Grok to write up a summary in my overall writing style, which it got pretty well. I've decided to post it exactly as-is. Ultimately, I think there are two solid ideas driving my stance here:

1. Perfect is the enemy of the good
2. Failure is the crucible of success

Beyond that, just some hard-core belief in freedom, separation of powers, and operating from self-interest.

Intro

Alright, buckle up. I’ve been chewing on this idea for a while, and it’s time to spit it out. Let’s look at the U.S. government like I’d look at a codebase under a cybersecurity audit—OPSEC style, no fluff. Forget the endless debates about what politicians should do. That’s noise. I want to talk about what they can do, the raw powers baked into the system, and why we should stop pretending those powers are sacred. If there’s a hole, either patch it or exploit it. No half-measures. And yeah, I’m okay if the whole thing crashes a bit—failure’s a feature, not a bug.

The Filibuster: A Security Rule with No Teeth

You ever see a firewall rule that’s more theater than protection? That’s the Senate filibuster. Everyone acts like it’s this untouchable guardian of democracy, but here’s the deal: a simple majority can torch it any day. It’s not a law; it’s a Senate preference, like choosing tabs over spaces. When people call killing it the “nuclear option,” I roll my eyes. Nuclear? It’s a button labeled “press me.” If a party wants it gone, they’ll do it. So why the dance?

I say stop playing games. Get rid of the filibuster. If you’re one of those folks who thinks it’s the only thing saving us from tyranny, fine—push for a constitutional amendment to lock it in. That’s a real patch, not a Post-it note. Until then, it’s just a vulnerability begging to be exploited. Every time a party threatens to nuke it, they’re admitting it’s not essential. So let’s stop pretending and move on.

Supreme Court Packing: Because Nine’s Just a Number

Here’s another fun one: the Supreme Court. Nine justices, right? Sounds official. Except it’s not. The Constitution doesn’t say nine—it’s silent on the number. Congress could pass a law tomorrow to make it 15, 20, or 42 (hitchhiker’s reference, anyone?). Packing the court is always on the table, and both sides know it. It’s like a root exploit just sitting there, waiting for someone to log in.

So why not call the bluff? If you’re in power—say, Trump’s back in the game—say, “I’m packing the court unless we amend the Constitution to fix it at nine.” Force the issue. No more shadowboxing. And honestly? The court’s got way too much power anyway. It’s not supposed to be a super-legislature, but here we are, with justices’ ideologies driving the bus. That’s a bug, not a feature. If the court weren’t such a kingmaker, packing it wouldn’t even matter. Maybe we should be talking about clipping its wings instead of just its size.

The Executive Should Go Full Klingon

Let’s talk presidents. I’m not saying they should wear Klingon armor and start shouting “Qapla’!”—though, let’s be real, that’d be awesome. I’m saying the executive should use every scrap of power the Constitution hands them. Enforce the laws you agree with, sideline the ones you don’t. If Congress doesn’t like it, they’ve got tools: pass new laws, override vetoes, or—here’s the big one—cut the budget. That’s not chaos; that’s the system working as designed.

Right now, the real problem isn’t the president overreaching; it’s the bureaucracy. It’s like a daemon running in the background, eating CPU and ignoring the user. The president’s supposed to be the one steering, but the administrative state’s got its own agenda. Let the executive flex, push the limits, and force Congress to check it. Norms? Pfft. The Constitution’s the spec sheet—stick to it.

Let the System Crash

Here’s where I get a little spicy: I’m totally fine if the government grinds to a halt. Deadlock isn’t a disaster; it’s a feature. If the branches can’t agree, let the president veto, let Congress starve the budget, let enforcement stall. Don’t tell me about “essential services.” Nothing’s so critical it can’t take a breather. Shutdowns force everyone to the table—debate, compromise, or expose who’s dropping the ball. If the public loses trust? Good. They’ll vote out the clowns or live with the circus they elected.

Think of it like a server crash. Sometimes you need a hard reboot to clear the cruft. If voters keep picking the same bad admins, well, the country gets what it deserves. Failure’s the best teacher—way better than limping along on autopilot.

States Are the Real MVPs

If the feds fumble, states step up. Right now, states act like junior devs waiting for the lead engineer to sign off. Why? Federal money. It’s a leash, and it’s tight. Cut that cash, and states will remember they’re autonomous. Some will shine, others will tank—looking at you, California. And I’m okay with that. Let people flee to better-run states. No bailouts, no excuses. States are like competing startups: the good ones thrive, the bad ones pivot or die.

Could it get uneven? Sure. Some states might turn into sci-fi utopias while others look like a post-apocalyptic vidya game. That’s the point—competition sorts it out. Citizens can move, markets adjust, and failure’s a signal to fix your act.

Chaos Isn’t the Enemy

Yeah, this sounds messy. States ignoring federal law, external threats poking at our seams, maybe even a constitutional crisis. I’m not scared. The Supreme Court’s there to referee interstate fights, and Congress sets the rules for state-to-state play. But if it all falls apart? Still cool. States can sort it without a babysitter—it’ll be ugly, but freedom’s worth it. External enemies? They’ll either unify us or break us. If we can’t rally, we don’t deserve the win.

Centralizing power to avoid this is like rewriting your app in a single thread to prevent race conditions—sure, it’s simpler, but you’re begging for a deadlock. Decentralized chaos lets states experiment, lets people escape, lets markets breathe. States competing to cut regulations to attract businesses? That’s a race to the bottom for red tape, but a race to the top for innovation—workers might gripe, but they’ll push back, and the tension’s healthy. Bring it—let the cage match play out. The Constitution’s checks are enough if we stop coddling the system.

Why This Matters

I’m not pitching a utopia. I’m pitching a stress test. The U.S. isn’t a fragile porcelain doll; it’s a rugged piece of hardware built to take some hits. Let it fail a little—filibuster, court, feds, whatever. Patch the holes with amendments if you want, or lean into the grind. Either way, stop fearing the crash. It’s how we debug the republic.

So, what’s your take? Ready to let the system rumble, or got a better way to secure the code? Hit me up—I’m all ears.

@ c4b5369a:b812dbd6

Offline transactions with Cashu

Over the past few weeks, I've been busy implementing offline capabilities into nutstash. I think this is one of the key value propositions of ecash, beinga a bearer instrument that can be used without internet access. It does however come with limitations, which can lead to a bit of confusion. I hope this article will clear some of these questions up for you!

What is ecash/Cashu?

Ecash is the first cryptocurrency ever invented. It was created by David Chaum in 1983. It uses a blind signature scheme, which allows users to prove ownership of a token without revealing a link to its origin. These tokens are what we call ecash. They are bearer instruments, meaning that anyone who possesses a copy of them, is considered the owner.

Cashu is an implementation of ecash, built to tightly interact with Bitcoin, more specifically the Bitcoin lightning network. In the Cashu ecosystem, Mints are the gateway to the lightning network. They provide the infrastructure to access the lightning network, pay invoices and receive payments. Instead of relying on a traditional ledger scheme like other custodians do, the mint issues ecash tokens, to represent the value held by the users.

How do normal Cashu transactions work?

A Cashu transaction happens when the sender gives a copy of his ecash token to the receiver. This can happen by any means imaginable. You could send the token through email, messenger, or even by pidgeon. One of the common ways to transfer ecash is via QR code.

The transaction is however not finalized just yet! In order to make sure the sender cannot double-spend their copy of the token, the receiver must do what we call a swap. A swap is essentially exchanging an ecash token for a new one at the mint, invalidating the old token in the process. This ensures that the sender can no longer use the same token to spend elsewhere, and the value has been transferred to the receiver.

What about offline transactions?

Sending offline

Sending offline is very simple. The ecash tokens are stored on your device. Thus, no internet connection is required to access them. You can litteraly just take them, and give them to someone. The most convenient way is usually through a local transmission protocol, like NFC, QR code, Bluetooth, etc.

The one thing to consider when sending offline is that ecash tokens come in form of "coins" or "notes". The technical term we use in Cashu is Proof. It "proofs" to the mint that you own a certain amount of value. Since these proofs have a fixed value attached to them, much like UTXOs in Bitcoin do, you would need proofs with a value that matches what you want to send. You can mix and match multiple proofs together to create a token that matches the amount you want to send. But, if you don't have proofs that match the amount, you would need to go online and swap for the needed proofs at the mint.

Another limitation is, that you cannot create custom proofs offline. For example, if you would want to lock the ecash to a certain pubkey, or add a timelock to the proof, you would need to go online and create a new custom proof at the mint.

Receiving offline

You might think: well, if I trust the sender, I don't need to be swapping the token right away!

You're absolutely correct. If you trust the sender, you can simply accept their ecash token without needing to swap it immediately.

This is already really useful, since it gives you a way to receive a payment from a friend or close aquaintance without having to worry about connectivity. It's almost just like physical cash!

It does however not work if the sender is untrusted. We have to use a different scheme to be able to receive payments from someone we don't trust.

Receiving offline from an untrusted sender

To be able to receive payments from an untrusted sender, we need the sender to create a custom proof for us. As we've seen before, this requires the sender to go online.

The sender needs to create a token that has the following properties, so that the receciver can verify it offline:

• It must be locked to ONLY the receiver's public key
• It must include an offline signature proof (DLEQ proof)
• If it contains a timelock & refund clause, it must be set to a time in the future that is acceptable for the receiver
• It cannot contain duplicate proofs (double-spend)
• It cannot contain proofs that the receiver has already received before (double-spend)

If all of these conditions are met, then the receiver can verify the proof offline and accept the payment. This allows us to receive payments from anyone, even if we don't trust them.

At first glance, this scheme seems kinda useless. It requires the sender to go online, which defeats the purpose of having an offline payment system.

I beleive there are a couple of ways this scheme might be useful nonetheless:

1. Offline vending machines: Imagine you have an offline vending machine that accepts payments from anyone. The vending machine could use this scheme to verify payments without needing to go online itself. We can assume that the sender is able to go online and create a valid token, but the receiver doesn't need to be online to verify it.

2. Offline marketplaces: Imagine you have an offline marketplace where buyers and sellers can trade goods and services. Before going to the marketplace the sender already knows where he will be spending the money. The sender could create a valid token before going to the marketplace, using the merchants public key as a lock, and adding a refund clause to redeem any unspent ecash after it expires. In this case, neither the sender nor the receiver needs to go online to complete the transaction.

How to use this

Pretty much all cashu wallets allow you to send tokens offline. This is because all that the wallet needs to do is to look if it can create the desired amount from the proofs stored locally. If yes, it will automatically create the token offline.

Receiving offline tokens is currently only supported by nutstash (experimental).

To create an offline receivable token, the sender needs to lock it to the receiver's public key. Currently there is no refund clause! So be careful that you don't get accidentally locked out of your funds!

The receiver can then inspect the token and decide if it is safe to accept without a swap. If all checks are green, they can accept the token offline without trusting the sender.

The receiver will see the unswapped tokens on the wallet homescreen. They will need to manually swap them later when they are online again.

Later when the receiver is online again, they can swap the token for a fresh one.

Summary

We learned that offline transactions are possible with ecash, but there are some limitations. It either requires trusting the sender, or relying on either the sender or receiver to be online to verify the tokens, or create tokens that can be verified offline by the receiver.

I hope this short article was helpful in understanding how ecash works and its potential for offline transactions.

Cheers,

Gandlaf

@ 472f440f:5669301e

Marty's Bent

via me

It seems like every other day there's another company announced that is going public with the intent of competing with Strategy by leveraging capital markets to create financial instruments to acquire Bitcoin in a way that is accretive for shareholders. This is certainly a very interesting trend, very bullish for bitcoin in the short-term, and undoubtedly making it so bitcoin is top of mind in the mainstream. I won't pretend to know whether or not these strategies will ultimately be successful or fail in the short, medium or long term. However, one thing I do know is that the themes that interest me, both here at TFTC and in my role as Managing Partner at Ten31, are companies that are building good businesses that are efficient, have product-market-fit, generate revenues and profits and roll those profits into bitcoin.

While it seems pretty clear that Strategy has tapped into an arbitrage that exists in capital markets, it's not really that exciting. From a business perspective, it's actually pretty straightforward and simple; find where potential arbitrage opportunities exists between pools of capital looking for exposure to spot bitcoin or bitcoin's volatility but can't buy the actual asset, and provide them with products that give them access to exposure while simultaneously creating a cult-like retail following. Rinse and repeat. To the extent that this strategy is repeatable is yet to be seen. I imagine it can expand pretty rapidly. Particularly if we have a speculative fervor around companies that do this. But in the long run, I think the signal is falling back to first principles, looking for businesses that are actually providing goods and services to the broader economy - not focused on the hyper-financialized part of the economy - to provide value and create efficiencies that enable higher margins and profitability.

With this in mind, I think it's important to highlight the combined leverage that entrepreneurs have by utilizing bitcoin treasuries and AI tools that are emerging and becoming more advanced by the week. As I said in the tweet above, there's never been a better time to start a business that finds product-market fit and cash flows quickly with a team of two to three people. If you've been reading this rag over the last few weeks, you know that I've been experimenting with these AI tools and using them to make our business processes more efficient here at TFTC. I've also been using them at Ten31 to do deep research and analysis.

It has become abundantly clear to me that any founder or entrepreneur that is not utilizing the AI tools that are emerging is going to get left behind. As it stands today, all anyone has to do to get an idea from a thought in your head to the prototype stage to a minimum viable product is to hop into something like Claude or ChatGPT, have a brief conversation with an AI model that can do deep research about a particular niche that you want to provide a good service to and begin building.

Later this week, I will launch an app called Opportunity Cost in the Chrome and Firefox stores. It took me a few hours of work over the span of a week to ideate and iterate on the concept to the point where I had a working prototype that I handed off to a developer who is solving the last mile problem I have as an "idea guy" of getting the product to market. Only six months ago, accomplishing something like this would have been impossible for me. I've never written a line of code that's actually worked outside of the modded MySpace page I made back in middle school. I've always had a lot of ideas but have never been able to effectively communicate them to developers who can actually build them. With a combination of ChatGPT-03 and Replit, I was able to build an actual product that works. I'm using it in my browser today. It's pretty insane.

There are thousands of people coming to the same realization at the same time right now and going out there and building niche products very cheaply, with small teams, they are getting to market very quickly, and are amassing five figures, six figures, sometimes seven figures of MRR with extremely high profit margins. What most of these entrepreneurs have not really caught on to yet is that they should be cycling a portion - in my opinion, a large portion - of those profits into bitcoin. The combination of building a company utilizing these AI tools, getting it to market, getting revenue and profits, and turning those profits into bitcoin cannot be understated. You're going to begin seeing teams of one to ten people building businesses worth billions of dollars and they're going to need to store the value they create, any money that cannot be debased.

nostr:nprofile1qyx8wumn8ghj7cnjvghxjmcpz4mhxue69uhk2er9dchxummnw3ezumrpdejqqgy8fkmd9kmm8yp4lea2cx0g8fyz27g4ud7572j4edx2v6lz6aa23qmp5dth , one of the co-founders of Ten31, wrote about this in early 2024, bitcoin being the fourth lever of equity value growth for companies.

Bitcoin Treasury - The Fourth Lever to Equity Value Growth

We already see this theme playing out at Ten31 with some of our portfolio companies, most notably nostr:nprofile1qy2hwumn8ghj7etyv4hzumn0wd68ytnvv9hxgqgdwaehxw309ahx7uewd3hkcqpqex7mdykw786qxvmtuls208uyxmn0hse95rfwsarvfde5yg6wy7jqjrm2qp , which recently released some of their financials, highlighting the fact that they're extremely profitable with high margins and a relatively small team (\~75). This is extremely impressive, especially when you consider the fact that they're a global company competing with the likes of Coinbase and Block, which have each thousands of employees.

Even those who are paying attention to the developments in the AI space and how the tools can enable entrepreneurs to build faster aren't really grasping the gravity of what's at play here. Many are simply thinking of consumer apps that can be built and distributed quickly to market, but the ways in which AI can be implemented extend far beyond the digital world. Here's a great example of a company a fellow freak is building with the mindset of keeping the team small, utilizing AI tools to automate processes and quickly push profits into bitcoin.

via Cormac

Again, this is where the exciting things are happening in my mind. People leveraging new tools to solve real problems to drive real value that ultimately produce profits for entrepreneurs. The entrepreneurs who decide to save those profits in bitcoin will find that the equity value growth of their companies accelerates exponentially as they provide more value, gain more traction, and increase their profits while also riding the bitcoin as it continues on its monetization phase. The compounded leverage of building a company that leverages AI tools and sweeps profits into bitcoin is going to be one of the biggest asymmetric plays of the next decade. Personally, I also see it as something that's much more fulfilling than the pure play bitcoin treasury companies that are coming to market because consumers and entrepreneurs are able to recive and provide a ton of value in the real economy.

If you're looking to stay on top of the developments in the AI space and how you can apply the tools to help build your business or create a new business, I highly recommend you follow somebody like Greg Isenberg, whose Startup Ideas Podcast has been incredibly valuable for me as I attempt to get a lay of the land of how to implement AI into my businesses.

America's Two Economies

In my recent podcast with Lyn Alden, she outlined how our trade deficits create a cycle that's reshaping America's economic geography. As Alden explained, US trade deficits pump dollars into international markets, but these dollars don't disappear - they return as investments in US financial assets. This cycle gradually depletes industrial heartlands while enriching financial centers on the coasts, creating what amounts to two separate American economies.

"We're basically constantly taking economic vibrancy out of Michigan and Ohio and rural Pennsylvania where the steel mills were... and stuffing it back into financial assets in New York and Silicon Valley." - nostr:nprofile1qy2hwumn8ghj7mn0wd68ytndv9kxjm3wdahxcqg5waehxw309ahx7um5wfekzarkvyhxuet5qqsw4v882mfjhq9u63j08kzyhqzqxqc8tgf740p4nxnk9jdv02u37ncdhu7e3

This pattern has persisted for over four decades, accelerating significantly since the early 1980s. Alden emphasized that while economists may argue there's still room before reaching a crisis point, the political consequences are already here. The growing divide between these two Americas has fueled populist sentiment as voters who feel left behind seek economic rebalancing, even if they can't articulate the exact mechanisms causing their hardship.

Check out the full podcast here for more on China's manufacturing dominance, Trump's tariff strategy, and the future of Bitcoin as a global reserve asset. All discussed in under 60 minutes.

Headlines of the Day

Trump's Saudi Summit: Peace and Economic Ties - via X

MSTR Edges Closer To S\&P 500 With Just 89 Trading Days Left - via X

Get our new STACK SATS hat - via tftcmerch.io

Individuals Shed 247K Bitcoin As Businesses Gain 157K - via X

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Final thought...

My boys have started a game in the car where we count how many Waymos we see on the road while driving around town. Pretty crazy how innately stoked they are about that particular car.

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@ c631e267:c2b78d3e

Information ohne Reflexion ist geistiger Flugsand. \ Ernst Reinhardt

Der lateinische Ausdruck «Quo vadis» als Frage nach einer Entwicklung oder Ausrichtung hat biblische Wurzeln. Er wird aber auch in unserer Alltagssprache verwendet, laut Duden meist als Ausdruck von Besorgnis oder Skepsis im Sinne von: «Wohin wird das führen?»

Der Sinn und Zweck von so mancher politischen Entscheidung erschließt sich heutzutage nicht mehr so leicht, und viele Trends können uns Sorge bereiten. Das sind einerseits sehr konkrete Themen wie die zunehmende Militarisierung und die geschichtsvergessene Kriegstreiberei in Europa, deren Feindbildpflege aktuell beim Gedenken an das Ende des Zweiten Weltkriegs beschämende Formen annimmt.

Auch das hohe Gut der Schweizer Neutralität scheint immer mehr in Gefahr. Die schleichende Bewegung der Eidgenossenschaft in Richtung NATO und damit weg von einer Vermittlerposition erhält auch durch den neuen Verteidigungsminister Anschub. Martin Pfister möchte eine stärkere Einbindung in die europäische Verteidigungsarchitektur, verwechselt bei der Argumentation jedoch Ursache und Wirkung.

Das Thema Gesundheit ist als Zugpferd für Geschäfte und Kontrolle offenbar schon zuverlässig etabliert. Die hauptsächlich privat finanzierte Weltgesundheitsorganisation (WHO) ist dabei durch ein Netzwerk von sogenannten «Collaborating Centres» sogar so weit in nationale Einrichtungen eingedrungen, dass man sich fragen kann, ob diese nicht von Genf aus gesteuert werden.

Das Schweizer Bundesamt für Gesundheit (BAG) übernimmt in dieser Funktion ebenso von der WHO definierte Aufgaben und Pflichten wie das deutsche Robert Koch-Institut (RKI). Gegen die Covid-«Impfung» für Schwangere, die das BAG empfiehlt, obwohl es fehlende wissenschaftliche Belege für deren Schutzwirkung einräumt, formiert sich im Tessin gerade Widerstand.

Unter dem Stichwort «Gesundheitssicherheit» werden uns die Bestrebungen verkauft, essenzielle Dienste mit einer biometrischen digitalen ID zu verknüpfen. Das dient dem Profit mit unseren Daten und führt im Ergebnis zum Verlust unserer demokratischen Freiheiten. Die deutsche elektronische Patientenakte (ePA) ist ein Element mit solchem Potenzial. Die Schweizer Bürger haben gerade ein Referendum gegen das revidierte E-ID-Gesetz erzwungen. In Thailand ist seit Anfang Mai für die Einreise eine «Digital Arrival Card» notwendig, die mit ihrer Gesundheitserklärung einen Impfpass «durch die Hintertür» befürchten lässt.

Der massive Blackout auf der iberischen Halbinsel hat vermehrt Fragen dazu aufgeworfen, wohin uns Klimawandel-Hysterie und «grüne» Energiepolitik führen werden. Meine Kollegin Wiltrud Schwetje ist dem nachgegangen und hat in mehreren Beiträgen darüber berichtet. Wenig überraschend führen interessante Spuren mal wieder zu internationalen Großbanken, Globalisten und zur EU-Kommission.

Zunehmend bedenklich ist aber ganz allgemein auch die manifestierte Spaltung unserer Gesellschaften. Angesichts der tiefen und sorgsam gepflegten Gräben fällt es inzwischen schwer, eine zukunftsfähige Perspektive zu erkennen. Umso begrüßenswerter sind Initiativen wie die Kölner Veranstaltungsreihe «Neue Visionen für die Zukunft». Diese möchte die Diskussionskultur reanimieren und dazu beitragen, dass Menschen wieder ohne Angst und ergebnisoffen über kontroverse Themen der Zeit sprechen.

Quo vadis – Wohin gehen wir also? Die Suche nach Orientierung in diesem vermeintlichen Chaos führt auch zur Reflexion über den eigenen Lebensweg. Das ist positiv insofern, als wir daraus Kraft schöpfen können. Ob derweil der neue Papst, dessen «Vorgänger» Petrus unsere Ausgangsfrage durch die christliche Legende zugeschrieben wird, dabei eine Rolle spielt, muss jede/r selbst wissen. Mir persönlich ist allein schon ein Führungsanspruch wie der des Petrusprimats der römisch-katholischen Kirche eher suspekt.

[Titelbild: Pixabay]

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Dieser Beitrag wurde mit dem Pareto-Client geschrieben und ist zuerst auf Transition News erschienen.

@ c631e267:c2b78d3e

Du bist recht appetitlich oben anzuschauen, \ doch unten hin die Bestie macht mir Grauen. \ Johann Wolfgang von Goethe

Wie wenig bekömmlich sogenannte «Ultra-Processed Foods» wie Fertiggerichte, abgepackte Snacks oder Softdrinks sind, hat kürzlich eine neue Studie untersucht. Derweil kann Fleisch auch wegen des Einsatzes antimikrobieller Mittel in der Massentierhaltung ein Problem darstellen. Internationale Bemühungen, diesen Gebrauch zu reduzieren, um die Antibiotikaresistenz bei Menschen einzudämmen, sind nun möglicherweise gefährdet.

Leider ist Politik oft mindestens genauso unappetitlich und ungesund wie diverse Lebensmittel. Die «Corona-Zeit» und ihre Auswirkungen sind ein beredtes Beispiel. Der Thüringer Landtag diskutiert gerade den Entwurf eines «Coronamaßnahmen-Unrechtsbereinigungsgesetzes» und das kanadische Gesundheitsministerium versucht, tausende Entschädigungsanträge wegen Impfnebenwirkungen mit dem Budget von 75 Millionen Dollar unter einen Hut zu bekommen. In den USA soll die Zulassung von Covid-«Impfstoffen» überdacht werden, während man sich mit China um die Herkunft des Virus streitet.

Wo Corona-Verbrecher von Medien und Justiz gedeckt werden, verfolgt man Aufklärer und Aufdecker mit aller Härte. Der Anwalt und Mitbegründer des Corona-Ausschusses Reiner Fuellmich, der seit Oktober 2023 in Untersuchungshaft sitzt, wurde letzte Woche zu drei Jahren und neun Monaten verurteilt – wegen Veruntreuung. Am Mittwoch teilte der von vielen Impfschadensprozessen bekannte Anwalt Tobias Ulbrich mit, dass er vom Staatsschutz verfolgt wird und sich daher künftig nicht mehr öffentlich äußern werde.

Von der kommenden deutschen Bundesregierung aus Wählerbetrügern, Transatlantikern, Corona-Hardlinern und Russenhassern kann unmöglich eine Verbesserung erwartet werden. Nina Warken beispielsweise, die das Ressort Gesundheit übernehmen soll, diffamierte Maßnahmenkritiker als «Coronaleugner» und forderte eine Impfpflicht, da die wundersamen Injektionen angeblich «nachweislich helfen». Laut dem designierten Außenminister Johann Wadephul wird Russland «für uns immer der Feind» bleiben. Deswegen will er die Ukraine «nicht verlieren lassen» und sieht die Bevölkerung hinter sich, solange nicht deutsche Soldaten dort sterben könnten.

Eine wichtige Personalie ist auch die des künftigen Regierungssprechers. Wenngleich Hebestreit an Arroganz schwer zu überbieten sein wird, dürfte sich die Art der Kommunikation mit Stefan Kornelius in der Sache kaum ändern. Der Politikchef der Süddeutschen Zeitung «prägte den Meinungsjournalismus der SZ» und schrieb «in dieser Rolle auch für die Titel der Tamedia». Allerdings ist, anders als noch vor zehn Jahren, die Einbindung von Journalisten in Thinktanks wie die Deutsche Atlantische Gesellschaft (DAG) ja heute eher eine Empfehlung als ein Problem.

Ungesund ist definitiv auch die totale Digitalisierung, nicht nur im Gesundheitswesen. Lauterbachs Abschiedsgeschenk, die «abgesicherte» elektronische Patientenakte (ePA) ist völlig überraschenderweise direkt nach dem Bundesstart erneut gehackt worden. Norbert Häring kommentiert angesichts der Datenlecks, wer die ePA nicht abwähle, könne seine Gesundheitsdaten ebensogut auf Facebook posten.

Dass die staatlichen Kontrolleure so wenig auf freie Software und dezentrale Lösungen setzen, verdeutlicht die eigentlichen Intentionen hinter der Digitalisierungswut. Um Sicherheit und Souveränität geht es ihnen jedenfalls nicht – sonst gäbe es zum Beispiel mehr Unterstützung für Bitcoin und für Initiativen wie die der Spar-Supermärkte in der Schweiz.

[Titelbild: Pixabay]

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Dieser Beitrag wurde mit dem Pareto-Client geschrieben und ist zuerst auf Transition News erschienen.

@ 472f440f:5669301e

Marty's Bent

via Kevin McKernan

There's been a lot of discussion this week about Casey Means being nominated for Surgeon General of the United States and a broader overarching conversation about the effectiveness of MAHA since the inauguration and how effective it may or may not be moving forward. Many would say that President Trump won re-election due to Robert F. Kennedy Jr. and Nicole Shanahan deciding to reach across the aisle and join the Trump ticket, bringing with them the MAHA Moms, who are very focused on reorienting the healthcare system in the United States with a strong focus on the childhood vaccine schedule.

I'm not going to lie, this is something I'm passionate about as well, particularly after having many conversations over the years with doctors like Kevin McKernan, Dr. Jack Kruse, Dr. Mary Talley Bowden, Dr. Brooke Miller, Dr. Peter McCullough and others about the dangers of the COVID mRNA vaccines. As it stands today, I think this is the biggest elephant in the room in the world of healthcare. If you look at the data, particularly disability claims, life insurance claims, life expectancy, miscarriage rates, fertility issues and rates of turbo cancer around the world since the COVID vaccine was introduced in 2021, it seems pretty clear that there is harm being done to many of the people who have taken them.

The risk-reward ratio of the vaccines seems to be incredibly skewed towards risk over reward and children - who have proven to be least susceptible to COVID - are expected to get three COVID shots in the first year of their life if their parents follow the vaccine schedule. For some reason or another it seems that Robert F. Kennedy Jr. has shied away from this topic after becoming the head of Health and Human Services within the Trump administration. This is after a multi-year campaign during which getting the vaccines removed from the market war a core part of his platform messaging.

I'm still holding out hope that sanity will prevail. The COVID mRNA vaccines will be taken off the market in a serious conversation about the crimes against humanity that unfolded during the COVID years will take place. However, we cannot depend on that outcome. We must build with the assumption in mind that that outcome may never materialize. This leads to identifying where the incentives within the system are misconstrued. One area where I think it's pretty safe to say that the incentives are misaligned is the fact that 95% of doctors work for and answer to a corporation driven by their bottom line. Instead of listening to their patients and truly caring about the outcome of each individual, doctors forced to think about the monetary outcome of the corporation they work for first.

The most pernicious way in which these misaligned incentives emerge is the way in which the hospital systems and physicians are monetarily incentivized by big pharma companies to push the COVID vaccine and other vaccines on their patients. It is important to acknowledge that we cannot be dependent on a system designed in this way to change from within. Instead, we must build a new incentive system and market structure. And obviously, if you're reading this newsletter, you know that I believe that bitcoin will play a pivotal role in realigning incentives across every industry. Healthcare just being one of them.

Bitcoiners who have identified the need to become sovereign in our monetary matters, it probably makes sense to become sovereign when it comes to our healthcare as well. This means finding doctors who operate outside the corporate controlled system and are able to offer services that align incentives with the end patient. My family utilizes a combination of CrowdHealth and a private care physician to align incentives. We've even utilized a private care physician who allowed us to pay in Bitcoin for her services for a number of years. I think this is the model. Doctors accepting hard censorship resistant money for the healthcare and advice they provide. Instead of working for a corporation looking to push pharmaceutical products on their patients so they can bolster their bottom line, work directly with patients who will pay in bitcoin, which will appreciate in value over time.

I had a lengthy discussion with Dr. Jack Kruse on the podcast earlier today discussing these topic and more. It will be released on Thursday and I highly recommend you freaks check it out once it is published. Make sure you subscribe so you don't miss it.

How the "Exorbitant Privilege" of the Dollar is Undermining Our Manufacturing Base

In my conversation with Lyn Alden, we explored America's fundamental economic contradiction. As Lyn expertly explained, maintaining the dollar's reserve currency status while attempting to reshore manufacturing presents a near-impossible challenge - what economists call Triffin's Dilemma. The world's appetite for dollars gives Americans tremendous purchasing power but simultaneously hollows out our industrial base. The overvalued dollar makes our exports less competitive, especially for lower-margin manufacturing, while our imports remain artificially strong.

"Having the reserve currency does come with a bunch of benefits, historically called an exorbitant privilege, but then it has certain costs to maintain it." - Lyn Alden

This dilemma forces America to run persistent trade deficits, as this is how dollars flow to the world. For over four decades, these deficits have accumulated, creating massive economic imbalances that can't be quickly reversed. The Trump administration's attempts to address this through tariffs showcase how difficult rebalancing has become. As Lyn warned, even if we successfully pivot toward reshoring manufacturing, we'll face difficult trade-offs: potentially giving up some reserve currency benefits to rebuild our industrial foundation. This isn't just economic theory - it's the restructuring challenge that will define America's economic future.

Check out the full podcast here for more on China's manufacturing dominance, the role of Bitcoin in monetary transitions, and energy production as the foundation for future industrial power.

Headlines of the Day

Coinbase to replace Discover in S\&P 500 on May 19 - via X

Mallers promises no rehypothecation in Strike Bitcoin loans - via X

Get our new STACK SATS hat - via tftcmerch.io

Missouri passes HB 594, eliminates Bitcoin capital gains tax - via X

---

The 2025 Bitcoin Policy Summit is set for June 25th—and it couldn’t come at a more important time. The Bitcoin industry is at a pivotal moment in Washington, with initiatives like the Strategic Bitcoin Reserve gaining rapid traction. Whether you’re a builder, advocate, academic, or policymaker—we want you at the table. Join us in DC to help define the future of freedom, money & innovation in the 21st century.

Sign Up

---

Ten31, the largest bitcoin-focused investor, has deployed 144,264 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...

The 100+ degree days have returned to Austin, TX. Not mad about it... yet.

---

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:

@ 266815e0:6cd408a5

Its been a little over a year since NIP-90 was written and merged into the nips repo and its been a communication mess.

Every DVM implementation expects the inputs in slightly different formats, returns the results in mostly the same format and there are very few DVM actually running.

NIP-90 is overloaded

Why does a request for text translation and creating bitcoin OP_RETURNs share the same input i tag? and why is there an output tag on requests when only one of them will return an output?

Each DVM request kind is for requesting completely different types of compute with diffrent input and output requirements, but they are all using the same spec that has 4 different types of inputs (text, url, event, job) and an undefined number of output types.

Let me show a few random DVM requests and responses I found on wss://relay.damus.io to demonstrate what I mean:

This is a request to translate an event to English json { "kind": 5002, "content": "", "tags": [ // NIP-90 says there can be multiple inputs, so how would a DVM handle translatting multiple events at once? [ "i", "<event-id>", "event" ], [ "param", "language", "en" ], // What other type of output would text translations be? image/jpeg? [ "output", "text/plain" ], // Do we really need to define relays? cant the DVM respond on the relays it saw the request on? [ "relays", "wss://relay.unknown.cloud/", "wss://nos.lol/" ] ] }

This is a request to generate text using an LLM model json { "kind": 5050, // Why is the content empty? wouldn't it be better to have the prompt in the content? "content": "", "tags": [ // Why use an indexable tag? are we ever going to lookup prompts? // Also the type "prompt" isn't in NIP-90, this should probably be "text" [ "i", "What is the capital of France?", "prompt" ], [ "p", "c4878054cff877f694f5abecf18c7450f4b6fdf59e3e9cb3e6505a93c4577db2" ], [ "relays", "wss://relay.primal.net" ] ] }

This is a request for content recommendation json { "kind": 5300, "content": "", "tags": [ // Its fine ignoring this param, but what if the client actually needs exactly 200 "results" [ "param", "max_results", "200" ], // The spec never mentions requesting content for other users. // If a DVM didn't understand this and responded to this request it would provide bad data [ "param", "user", "b22b06b051fd5232966a9344a634d956c3dc33a7f5ecdcad9ed11ddc4120a7f2" ], [ "relays", "wss://relay.primal.net", ], [ "p", "ceb7e7d688e8a704794d5662acb6f18c2455df7481833dd6c384b65252455a95" ] ] }

This is a request to create a OP_RETURN message on bitcoin json { "kind": 5901, // Again why is the content empty when we are sending human readable text? "content": "", "tags": [ // and again, using an indexable tag on an input that will never need to be looked up ["i", "09/01/24 SEC Chairman on the brink of second ETF approval", "text"] ] }

My point isn't that these event schema's aren't understandable but why are they using the same schema? each use-case is different but are they all required to use the same i tag format as input and could support all 4 types of inputs.

Lack of libraries

With all these different types of inputs, params, and outputs its verify difficult if not impossible to build libraries for DVMs

If a simple text translation request can have an event or text as inputs, a payment-required status at any point in the flow, partial results, or responses from 10+ DVMs whats the best way to build a translation library for other nostr clients to use?

And how do I build a DVM framework for the server side that can handle multiple inputs of all four types (url, text, event, job) and clients are sending all the requests in slightly differently.

Supporting payments is impossible

The way NIP-90 is written there isn't much details about payments. only a payment-required status and a generic amount tag

But the way things are now every DVM is implementing payments differently. some send a bolt11 invoice, some expect the client to NIP-57 zap the request event (or maybe the status event), and some even ask for a subscription. and we haven't even started implementing NIP-61 nut zaps or cashu A few are even formatting the amount number wrong or denominating it in sats and not mili-sats

Building a client or a library that can understand and handle all of these payment methods is very difficult. for the DVM server side its worse. A DVM server presumably needs to support all 4+ types of payments if they want to get the most sats for their services and support the most clients.

All of this is made even more complicated by the fact that a DVM can ask for payment at any point during the job process. this makes sense for some types of compute, but for others like translations or user recommendation / search it just makes things even more complicated.

For example, If a client wanted to implement a timeline page that showed the notes of all the pubkeys on a recommended list. what would they do when the selected DVM asks for payment at the start of the job? or at the end? or worse, only provides half the pubkeys and asks for payment for the other half. building a UI that could handle even just two of these possibilities is complicated.

NIP-89 is being abused

NIP-89 is "Recommended Application Handlers" and the way its describe in the nips repo is

a way to discover applications that can handle unknown event-kinds

Not "a way to discover everything"

If I wanted to build an application discovery app to show all the apps that your contacts use and let you discover new apps then it would have to filter out ALL the DVM advertisement events. and that's not just for making requests from relays

If the app shows the user their list of "recommended applications" then it either has to understand that everything in the 5xxx kind range is a DVM and to show that is its own category or show a bunch of unknown "favorites" in the list which might be confusing for the user.

In conclusion

My point in writing this article isn't that the DVMs implementations so far don't work, but that they will never work well because the spec is too broad. even with only a few DVMs running we have already lost interoperability.

I don't want to be completely negative though because some things have worked. the "DVM feeds" work, although they are limited to a single page of results. text / event translations also work well and kind 5970 Event PoW delegation could be cool. but if we want interoperability, we are going to need to change a few things with NIP-90

I don't think we can (or should) abandon NIP-90 entirely but it would be good to break it up into small NIPs or specs. break each "kind" of DVM request out into its own spec with its own definitions for expected inputs, outputs and flow.

Then if we have simple, clean definitions for each kind of compute we want to distribute. we might actually see markets and services being built and used.

@ 0fa80bd3:ea7325de

DAOs promised decentralization. They offered a system where every member could influence a project's direction, where money and power were transparently distributed, and decisions were made through voting. All of it recorded immutably on the blockchain, free from middlemen.

But something didn’t work out. In practice, most DAOs haven’t evolved into living, self-organizing organisms. They became something else: clubs where participation is unevenly distributed. Leaders remained - only now without formal titles. They hold influence through control over communications, task framing, and community dynamics. Centralization still exists, just wrapped in a new package.

But there's a second, less obvious problem. Crowds can’t create strategy. In DAOs, people vote for what "feels right to the majority." But strategy isn’t about what feels good - it’s about what’s necessary. Difficult, unpopular, yet forward-looking decisions often fail when put to a vote. A founder’s vision is a risk. But in healthy teams, it’s that risk that drives progress. In DAOs, risk is almost always diluted until it becomes something safe and vague.

Instead of empowering leaders, DAOs often neutralize them. This is why many DAOs resemble consensus machines. Everyone talks, debates, and participates, but very little actually gets done. One person says, “Let’s jump,” and five others respond, “Let’s discuss that first.” This dynamic might work for open forums, but not for action.

Decentralization works when there’s trust and delegation, not just voting. Until DAOs develop effective systems for assigning roles, taking ownership, and acting with flexibility, they will keep losing ground to old-fashioned startups led by charismatic founders with a clear vision.

We’ve seen this in many real-world cases. Take MakerDAO, one of the most mature and technically sophisticated DAOs. Its governance token (MKR) holders vote on everything from interest rates to protocol upgrades. While this has allowed for transparency and community involvement, the process is often slow and bureaucratic. Complex proposals stall. Strategic pivots become hard to implement. And in 2023, a controversial proposal to allocate billions to real-world assets passed only narrowly, after months of infighting - highlighting how vision and execution can get stuck in the mud of distributed governance.

On the other hand, Uniswap DAO, responsible for the largest decentralized exchange, raised governance participation only after launching a delegation system where token holders could choose trusted representatives. Still, much of the activity is limited to a small group of active contributors. The vast majority of token holders remain passive. This raises the question: is it really community-led, or just a formalized power structure with lower transparency?

Then there’s ConstitutionDAO, an experiment that went viral. It raised over $40 million in days to try and buy a copy of the U.S. Constitution. But despite the hype, the DAO failed to win the auction. Afterwards, it struggled with refund logistics, communication breakdowns, and confusion over governance. It was a perfect example of collective enthusiasm without infrastructure or planning - proof that a DAO can raise capital fast but still lack cohesion.

Not all efforts have failed. Projects like Gitcoin DAO have made progress by incentivizing small, individual contributions. Their quadratic funding mechanism rewards projects based on the number of contributors, not just the size of donations, helping to elevate grassroots initiatives. But even here, long-term strategy often falls back on a core group of organizers rather than broad community consensus.

The pattern is clear: when the stakes are low or the tasks are modular, DAOs can coordinate well. But when bold moves are needed—when someone has to take responsibility and act under uncertainty DAOs often freeze. In the name of consensus, they lose momentum.

That’s why the organization of the future can’t rely purely on decentralization. It must encourage individual initiative and the ability to take calculated risks. People need to see their contribution not just as a vote, but as a role with clear actions and expected outcomes. When the situation demands, they should be empowered to act first and present the results to the community afterwards allowing for both autonomy and accountability. That’s not a flaw in the system. It’s how real progress happens.

@ 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:

@ c631e267:c2b78d3e

Die Wahrheit verletzt tiefer als jede Beleidigung. \ Marquis de Sade

Sagen Sie niemals «Terroristin B.», «Schwachkopf H.», «korrupter Drecksack S.» oder «Meinungsfreiheitshasserin F.» und verkneifen Sie sich Memes, denn so etwas könnte Ihnen als Beleidigung oder Verleumdung ausgelegt werden und rechtliche Konsequenzen haben. Auch mit einer Frau M.-A. S.-Z. ist in dieser Beziehung nicht zu spaßen, sie gehört zu den Top-Anzeigenstellern.

«Politikerbeleidigung» als Straftatbestand wurde 2021 im Kampf gegen «Rechtsextremismus und Hasskriminalität» in Deutschland eingeführt, damals noch unter der Regierung Merkel. Im Gesetz nicht festgehalten ist die Unterscheidung zwischen schlechter Hetze und guter Hetze – trotzdem ist das gängige Praxis, wie der Titel fast schon nahelegt.

So dürfen Sie als Politikerin heute den Tesla als «Nazi-Auto» bezeichnen und dies ausdrücklich auf den Firmengründer Elon Musk und dessen «rechtsextreme Positionen» beziehen, welche Sie nicht einmal belegen müssen. [1] Vielleicht ernten Sie Proteste, jedoch vorrangig wegen der «gut bezahlten, unbefristeten Arbeitsplätze» in Brandenburg. Ihren Tweet hat die Berliner Senatorin Cansel Kiziltepe inzwischen offenbar dennoch gelöscht.

Dass es um die Meinungs- und Pressefreiheit in der Bundesrepublik nicht mehr allzu gut bestellt ist, befürchtet man inzwischen auch schon im Ausland. Der Fall des Journalisten David Bendels, der kürzlich wegen eines Faeser-Memes zu sieben Monaten Haft auf Bewährung verurteilt wurde, führte in diversen Medien zu Empörung. Die Welt versteckte ihre Kritik mit dem Titel «Ein Urteil wie aus einer Diktatur» hinter einer Bezahlschranke.

Unschöne, heutzutage vielleicht strafbare Kommentare würden mir auch zu einigen anderen Themen und Akteuren einfallen. Ein Kandidat wäre der deutsche Bundesgesundheitsminister (ja, er ist es tatsächlich immer noch). Während sich in den USA auf dem Gebiet etwas bewegt und zum Beispiel Robert F. Kennedy Jr. will, dass die Gesundheitsbehörde (CDC) keine Covid-Impfungen für Kinder mehr empfiehlt, möchte Karl Lauterbach vor allem das Corona-Lügengebäude vor dem Einsturz bewahren.

«Ich habe nie geglaubt, dass die Impfungen nebenwirkungsfrei sind», sagte Lauterbach jüngst der ZDF-Journalistin Sarah Tacke. Das steht in krassem Widerspruch zu seiner früher verbreiteten Behauptung, die Gen-Injektionen hätten keine Nebenwirkungen. Damit entlarvt er sich selbst als Lügner. Die Bezeichnung ist absolut berechtigt, dieser Mann dürfte keinerlei politische Verantwortung tragen und das Verhalten verlangt nach einer rechtlichen Überprüfung. Leider ist ja die Justiz anderweitig beschäftigt und hat außerdem selbst keine weiße Weste.

Obendrein kämpfte der Herr Minister für eine allgemeine Impfpflicht. Er beschwor dabei das Schließen einer «Impflücke», wie es die Weltgesundheitsorganisation – die «wegen Trump» in finanziellen Schwierigkeiten steckt – bis heute tut. Die WHO lässt aktuell ihre «Europäische Impfwoche» propagieren, bei der interessanterweise von Covid nicht mehr groß die Rede ist.

Einen «Klima-Leugner» würden manche wohl Nir Shaviv nennen, das ist ja nicht strafbar. Der Astrophysiker weist nämlich die Behauptung von einer Klimakrise zurück. Gemäß seiner Forschung ist mindestens die Hälfte der Erderwärmung nicht auf menschliche Emissionen, sondern auf Veränderungen im Sonnenverhalten zurückzuführen.

Das passt vielleicht auch den «Klima-Hysterikern» der britischen Regierung ins Konzept, die gerade Experimente zur Verdunkelung der Sonne angekündigt haben. Produzenten von Kunstfleisch oder Betreiber von Insektenfarmen würden dagegen vermutlich die Geschichte vom fatalen CO2 bevorzugen. Ihnen würde es besser passen, wenn der verantwortungsvolle Erdenbürger sein Verhalten gründlich ändern müsste.

In unserer völlig verkehrten Welt, in der praktisch jede Verlautbarung außerhalb der abgesegneten Narrative potenziell strafbar sein kann, gehört fast schon Mut dazu, Dinge offen anzusprechen. Im «besten Deutschland aller Zeiten» glaubten letztes Jahr nur noch 40 Prozent der Menschen, ihre Meinung frei äußern zu können. Das ist ein Armutszeugnis, und es sieht nicht gerade nach Besserung aus. Umso wichtiger ist es, dagegen anzugehen.

[Titelbild: Pixabay]

--- Quellen: ---

[1] Zur Orientierung wenigstens ein paar Hinweise zur NS-Vergangenheit deutscher Automobilhersteller:

• Volkswagen
• Porsche
• Daimler-Benz
• BMW
• Audi
• Opel
• Heute: «Auto-Werke für die Rüstung? Rheinmetall prüft Übernahmen»

---

Dieser Beitrag wurde mit dem Pareto-Client geschrieben und ist zuerst auf Transition News erschienen.

@ c066aac5:6a41a034

I’m drawn to extremities in art. The louder, the bolder, the more outrageous, the better. Bold art takes me out of the mundane into a whole new world where anything and everything is possible. Having grown up in the safety of the suburban midwest, I was a bit of a rebellious soul in search of the satiation that only came from the consumption of the outrageous. My inclination to find bold art draws me to NOSTR, because I believe NOSTR can be the place where the next generation of artistic pioneers go to express themselves. I also believe that as much as we are able, were should invite them to come create here.

My Background: A Small Side Story

My father was a professional gamer in the 80s, back when there was no money or glory in the avocation. He did get a bit of spotlight though after the fact: in the mid 2000’s there were a few parties making documentaries about that era of gaming as well as current arcade events (namely 2007’sChasing GhostsandThe King of Kong: A Fistful of Quarters). As a result of these documentaries, there was a revival in the arcade gaming scene. My family attended events related to the documentaries or arcade gaming and I became exposed to a lot of things I wouldn’t have been able to find. The producer ofThe King of Kong: A Fistful of Quarters had previously made a documentary calledNew York Dollwhich was centered around the life of bassist Arthur Kane. My 12 year old mind was blown: The New York Dolls were a glam-punk sensation dressed in drag. The music was from another planet. Johnny Thunders’ guitar playing was like Chuck Berry with more distortion and less filter. Later on I got to meet the Galaga record holder at the time, Phil Day, in Ottumwa Iowa. Phil is an Australian man of high intellect and good taste. He exposed me to great creators such as Nick Cave & The Bad Seeds, Shakespeare, Lou Reed, artists who created things that I had previously found inconceivable.

I believe this time period informed my current tastes and interests, but regrettably I think it also put coals on the fire of rebellion within. I stopped taking my parents and siblings seriously, the Christian faith of my family (which I now hold dearly to) seemed like a mundane sham, and I felt I couldn’t fit in with most people because of my avant-garde tastes. So I write this with the caveat that there should be a way to encourage these tastes in children without letting them walk down the wrong path. There is nothing inherently wrong with bold art, but I’d advise parents to carefully find ways to cultivate their children’s tastes without completely shutting them down and pushing them away as a result. My parents were very loving and patient during this time; I thank God for that.

With that out of the way, lets dive in to some bold artists:

Nicolas Cage: Actor

There is an excellent video by Wisecrack on Nicolas Cage that explains him better than I will, which I will linkhere. Nicolas Cage rejects the idea that good acting is tied to mere realism; all of his larger than life acting decisions are deliberate choices. When that clicked for me, I immediately realized the man is a genius. He borrows from Kabuki and German Expressionism, art forms that rely on exaggeration to get the message across. He has even created his own acting style, which he calls Nouveau Shamanic. He augments his imagination to go from acting to being. Rather than using the old hat of method acting, he transports himself to a new world mentally. The projects he chooses to partake in are based on his own interests or what he considers would be a challenge (making a bad script good for example). Thus it doesn’t matter how the end result comes out; he has already achieved his goal as an artist. Because of this and because certain directors don’t know how to use his talents, he has a noticeable amount of duds in his filmography. Dig around the duds, you’ll find some pure gold. I’d personally recommend the filmsPig, Joe, Renfield, and his Christmas film The Family Man.

Nick Cave: Songwriter

What a wild career this man has had! From the apocalyptic mayhem of his band The Birthday Party to the pensive atmosphere of his albumGhosteen, it seems like Nick Cave has tried everything. I think his secret sauce is that he’s always working. He maintains an excellent newsletter calledThe Red Hand Files, he has written screenplays such asLawless, he has written books, he has made great film scores such asThe Assassination of Jesse James by the Coward Robert Ford, the man is religiously prolific. I believe that one of the reasons he is prolific is that he’s not afraid to experiment. If he has an idea, he follows it through to completion. From the albumMurder Ballads(which is comprised of what the title suggests) to his rejected sequel toGladiator(Gladiator: Christ Killer), he doesn’t seem to be afraid to take anything on. This has led to some over the top works as well as some deeply personal works. Albums likeSkeleton TreeandGhosteenwere journeys through the grief of his son’s death. The Boatman’s Callis arguably a better break-up album than anything Taylor Swift has put out. He’s not afraid to be outrageous, he’s not afraid to offend, but most importantly he’s not afraid to be himself. Works I’d recommend include The Birthday Party’sLive 1981-82, Nick Cave & The Bad Seeds’The Boatman’s Call, and the filmLawless.

Jim Jarmusch: Director

I consider Jim’s films to be bold almost in an ironic sense: his works are bold in that they are, for the most part, anti-sensational. He has a rule that if his screenplays are criticized for a lack of action, he makes them even less eventful. Even with sensational settings his films feel very close to reality, and they demonstrate the beauty of everyday life. That's what is bold about his art to me: making the sensational grounded in reality while making everyday reality all the more special. Ghost Dog: The Way of the Samurai is about a modern-day African-American hitman who strictly follows the rules of the ancient Samurai, yet one can resonate with the humanity of a seemingly absurd character. Only Lovers Left Aliveis a vampire love story, but in the middle of a vampire romance one can see their their own relationships in a new deeply human light. Jim’s work reminds me that art reflects life, and that there is sacred beauty in seemingly mundane everyday life. I personally recommend his filmsPaterson,Down by Law, andCoffee and Cigarettes.

NOSTR: We Need Bold Art

NOSTR is in my opinion a path to a better future. In a world creeping slowly towards everything apps, I hope that the protocol where the individual owns their data wins over everything else. I love freedom and sovereignty. If NOSTR is going to win the race of everything apps, we need more than Bitcoin content. We need more than shirtless bros paying for bananas in foreign countries and exercising with girls who have seductive accents. Common people cannot see themselves in such a world. NOSTR needs to catch the attention of everyday people. I don’t believe that this can be accomplished merely by introducing more broadly relevant content; people are searching for content that speaks to them. I believe that NOSTR can and should attract artists of all kinds because NOSTR is one of the few places on the internet where artists can express themselves fearlessly. Getting zaps from NOSTR’s value-for-value ecosystem has far less friction than crowdfunding a creative project or pitching investors that will irreversibly modify an artist’s vision. Having a place where one can post their works without fear of censorship should be extremely enticing. Having a place where one can connect with fellow humans directly as opposed to a sea of bots should seem like the obvious solution. If NOSTR can become a safe haven for artists to express themselves and spread their work, I believe that everyday people will follow. The banker whose stressful job weighs on them will suddenly find joy with an original meme made by a great visual comedian. The programmer for a healthcare company who is drowning in hopeless mundanity could suddenly find a new lust for life by hearing the song of a musician who isn’t afraid to crowdfund their their next project by putting their lighting address on the streets of the internet. The excel guru who loves independent film may find that NOSTR is the best way to support non corporate movies. My closing statement: continue to encourage the artists in your life as I’m sure you have been, but while you’re at it give them the purple pill. You may very well be a part of building a better future.

@ 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

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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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In much of the world, it is incredibly difficult to access U.S. dollars. Local currencies are often poorly managed and riddled with corruption. Billions of people demand a more reliable alternative. While the dollar has its own issues of corruption and mismanagement, it is widely regarded as superior to the fiat currencies it competes with globally. As a result, Tether has found massive success providing low cost, low friction access to dollars. Tether claims 400 million total users, is on track to add 200 million more this year, processes 8.1 million transactions daily, and facilitates $29 billion in daily transfers. Furthermore, their estimates suggest nearly 40% of users rely on it as a savings tool rather than just a transactional currency.

Tether’s rise has made the company a financial juggernaut. Last year alone, Tether raked in over $13 billion in profit, with a lean team of less than 100 employees. Their business model is elegantly simple: hold U.S. Treasuries and collect the interest. With over $113 billion in Treasuries, Tether has turned a straightforward concept into a profit machine.

Tether’s success has resulted in many competitors eager to claim a piece of the pie. This has triggered a massive venture capital grift cycle in USD tokens, with countless projects vying to dethrone Tether. Due to Tether’s entrenched network effect, these challengers face an uphill battle with little realistic chance of success. Most educated participants in the space likely recognize this reality but seem content to perpetuate the grift, hoping to cash out by dumping their equity positions on unsuspecting buyers before they realize the reality of the situation.

Historically, Tether’s greatest vulnerability has been U.S. government intervention. For over a decade, the company operated offshore with few allies in the U.S. establishment, making it a major target for regulatory action. That dynamic has shifted recently and Tether has seized the opportunity. By actively courting U.S. government support, Tether has fortified their position. This strategic move will likely cement their status as the dominant USD token for years to come.

While undeniably a great tool for the millions of users that rely on it, Tether is not without flaws. As a centralized, trusted third party, it holds the power to freeze or seize funds at its discretion. Corporate mismanagement or deliberate malpractice could also lead to massive losses at scale. In their goal of mitigating regulatory risk, Tether has deepened ties with law enforcement, mirroring some of the concerns of potential central bank digital currencies. In practice, Tether operates as a corporate CBDC alternative, collaborating with authorities to surveil and seize funds. The company proudly touts partnerships with leading surveillance firms and its own data reveals cooperation in over 1,000 law enforcement cases, with more than $2.5 billion in funds frozen.

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The global demand for Tether is undeniable and the company’s profitability reflects its unrivaled success. Tether is owned and operated by bitcoiners and will likely continue to push forward strategic goals that help the movement as a whole. Recent efforts to mitigate the threat of U.S. government enforcement will likely solidify their network effect and stifle meaningful adoption of rival USD tokens or CBDCs. Yet, for all their achievements, Tether is simply a worse form of money than bitcoin. Tether requires trust in a centralized entity, while bitcoin can be saved or spent without permission. Furthermore, Tether is tied to the value of the US Dollar which is designed to lose purchasing power over time, while bitcoin, as a truly scarce asset, is designed to increase in purchasing power with adoption. As people awaken to the risks of Tether’s control, and the benefits bitcoin provides, bitcoin adoption will likely surpass it.

@ c631e267:c2b78d3e

Es ist völlig unbestritten, dass der Angriff der russischen Armee auf die Ukraine im Februar 2022 strikt zu verurteilen ist. Ebenso unbestritten ist Russland unter Wladimir Putin keine brillante Demokratie. Aus diesen Tatsachen lässt sich jedoch nicht das finstere Bild des russischen Präsidenten – und erst recht nicht des Landes – begründen, das uns durchweg vorgesetzt wird und den Kern des aktuellen europäischen Bedrohungs-Szenarios darstellt. Da müssen wir schon etwas genauer hinschauen.

Der vorliegende Artikel versucht derweil nicht, den Einsatz von Gewalt oder die Verletzung von Menschenrechten zu rechtfertigen oder zu entschuldigen – ganz im Gegenteil. Dass jedoch der Verdacht des «Putinverstehers» sofort latent im Raume steht, verdeutlicht, was beim Thema «Russland» passiert: Meinungsmache und Manipulation.

Angesichts der mentalen Mobilmachung seitens Politik und Medien sowie des Bestrebens, einen bevorstehenden Krieg mit Russland geradezu herbeizureden, ist es notwendig, dieser fatalen Entwicklung entgegenzutreten. Wenn wir uns nur ein wenig von der herrschenden Schwarz-Weiß-Malerei freimachen, tauchen automatisch Fragen auf, die Risse im offiziellen Narrativ enthüllen. Grund genug, nachzuhaken.

Wer sich schon länger auch abseits der Staats- und sogenannten Leitmedien informiert, der wird in diesem Artikel vermutlich nicht viel Neues erfahren. Andere könnten hier ein paar unbekannte oder vergessene Aspekte entdecken. Möglicherweise klärt sich in diesem Kontext die Wahrnehmung der aktuellen (unserer eigenen!) Situation ein wenig.

Manipulation erkennen

Corona-«Pandemie», menschengemachter Klimawandel oder auch Ukraine-Krieg: Jede Menge Krisen, und für alle gibt es ein offizielles Narrativ, dessen Hinterfragung unerwünscht ist. Nun ist aber ein Narrativ einfach eine Erzählung, eine Geschichte (Latein: «narratio») und kein Tatsachenbericht. Und so wie ein Märchen soll auch das Narrativ eine Botschaft vermitteln.

Über die Methoden der Manipulation ist viel geschrieben worden, sowohl in Bezug auf das Individuum als auch auf die Massen. Sehr wertvolle Tipps dazu, wie man Manipulationen durchschauen kann, gibt ein Büchlein [1] von Albrecht Müller, dem Herausgeber der NachDenkSeiten.

Die Sprache selber eignet sich perfekt für die Manipulation. Beispielsweise kann die Wortwahl Bewertungen mitschwingen lassen, regelmäßiges Wiederholen (gerne auch von verschiedenen Seiten) lässt Dinge irgendwann «wahr» erscheinen, Übertreibungen fallen auf und hinterlassen wenigstens eine Spur im Gedächtnis, genauso wie Andeutungen. Belege spielen dabei keine Rolle.

Es gibt auffällig viele Sprachregelungen, die offenbar irgendwo getroffen und irgendwie koordiniert werden. Oder alle Redenschreiber und alle Medien kopieren sich neuerdings permanent gegenseitig. Welchen Zweck hat es wohl, wenn der Krieg in der Ukraine durchgängig und quasi wörtlich als «russischer Angriffskrieg auf die Ukraine» bezeichnet wird? Obwohl das in der Sache richtig ist, deutet die Art der Verwendung auf gezielte Beeinflussung hin und soll vor allem das Feindbild zementieren.

Sprachregelungen dienen oft der Absicherung einer einseitigen Darstellung. Das Gleiche gilt für das Verkürzen von Informationen bis hin zum hartnäckigen Verschweigen ganzer Themenbereiche. Auch hierfür gibt es rund um den Ukraine-Konflikt viele gute Beispiele.

Das gewünschte Ergebnis solcher Methoden ist eine Schwarz-Weiß-Malerei, bei der einer eindeutig als «der Böse» markiert ist und die anderen automatisch «die Guten» sind. Das ist praktisch und demonstriert gleichzeitig ein weiteres Manipulationswerkzeug: die Verwendung von Doppelstandards. Wenn man es schafft, bei wichtigen Themen regelmäßig mit zweierlei Maß zu messen, ohne dass das Publikum protestiert, dann hat man freie Bahn.

Experten zu bemühen, um bestimmte Sachverhalte zu erläutern, ist sicher sinnvoll, kann aber ebenso missbraucht werden, schon allein durch die Auswahl der jeweiligen Spezialisten. Seit «Corona» werden viele erfahrene und ehemals hoch angesehene Fachleute wegen der «falschen Meinung» diffamiert und gecancelt. [2] Das ist nicht nur ein brutaler Umgang mit Menschen, sondern auch eine extreme Form, die öffentliche Meinung zu steuern.

Wann immer wir also erkennen (weil wir aufmerksam waren), dass wir bei einem bestimmten Thema manipuliert werden, dann sind zwei logische und notwendige Fragen: Warum? Und was ist denn richtig? In unserem Russland-Kontext haben die Antworten darauf viel mit Geopolitik und Geschichte zu tun.

Ist Russland aggressiv und expansiv?

Angeblich plant Russland, europäische NATO-Staaten anzugreifen, nach dem Motto: «Zuerst die Ukraine, dann den Rest». In Deutschland weiß man dafür sogar das Datum: «Wir müssen bis 2029 kriegstüchtig sein», versichert Verteidigungsminister Pistorius.

Historisch gesehen ist es allerdings eher umgekehrt: Russland, bzw. die Sowjetunion, ist bereits dreimal von Westeuropa aus militärisch angegriffen worden. Die Feldzüge Napoleons, des deutschen Kaiserreichs und Nazi-Deutschlands haben Millionen Menschen das Leben gekostet. Bei dem ausdrücklichen Vernichtungskrieg ab 1941 kam es außerdem zu Brutalitäten wie der zweieinhalbjährigen Belagerung Leningrads (heute St. Petersburg) durch Hitlers Wehrmacht. Deren Ziel, die Bevölkerung auszuhungern, wurde erreicht: über eine Million tote Zivilisten.

Trotz dieser Erfahrungen stimmte Michail Gorbatschow 1990 der deutschen Wiedervereinigung zu und die Sowjetunion zog ihre Truppen aus Osteuropa zurück (vgl. Abb. 1). Der Warschauer Pakt wurde aufgelöst, der Kalte Krieg formell beendet. Die Sowjets erhielten damals von führenden westlichen Politikern die Zusicherung, dass sich die NATO «keinen Zentimeter ostwärts» ausdehnen würde, das ist dokumentiert. [3]

Expandiert ist die NATO trotzdem, und zwar bis an Russlands Grenzen (vgl. Abb. 2). Laut dem Politikberater Jeffrey Sachs handelt es sich dabei um ein langfristiges US-Projekt, das von Anfang an die Ukraine und Georgien mit einschloss. Offiziell wurde der Beitritt beiden Staaten 2008 angeboten. In jedem Fall könnte die massive Ost-Erweiterung seit 1999 aus russischer Sicht nicht nur als Vertrauensbruch, sondern durchaus auch als aggressiv betrachtet werden.

Russland hat den europäischen Staaten mehrfach die Hand ausgestreckt [4] für ein friedliches Zusammenleben und den «Aufbau des europäischen Hauses». Präsident Putin sei «in seiner ersten Amtszeit eine Chance für Europa» gewesen, urteilt die Journalistin und langjährige Russland-Korrespondentin der ARD, Gabriele Krone-Schmalz. Er habe damals viele positive Signale Richtung Westen gesendet.

Die Europäer jedoch waren scheinbar an einer Partnerschaft mit dem kontinentalen Nachbarn weniger interessiert als an der mit dem transatlantischen Hegemon. Sie verkennen bis heute, dass eine gedeihliche Zusammenarbeit in Eurasien eine Gefahr für die USA und deren bekundetes Bestreben ist, die «einzige Weltmacht» zu sein – «Full Spectrum Dominance» [5] nannte das Pentagon das. Statt einem neuen Kalten Krieg entgegenzuarbeiten, ließen sich europäische Staaten selber in völkerrechtswidrige «US-dominierte Angriffskriege» [6] verwickeln, wie in Serbien, Afghanistan, dem Irak, Libyen oder Syrien. Diese werden aber selten so benannt.

Speziell den Deutschen stünde außer einer Portion Realismus auch etwas mehr Dankbarkeit gut zu Gesicht. Das Geschichtsbewusstsein der Mehrheit scheint doch recht selektiv und das Selbstbewusstsein einiger etwas desorientiert zu sein. Bekanntermaßen waren es die Soldaten der sowjetischen Roten Armee, die unter hohen Opfern 1945 Deutschland «vom Faschismus befreit» haben. Bei den Gedenkfeiern zu 80 Jahren Kriegsende will jedoch das Auswärtige Amt – noch unter der Diplomatie-Expertin Baerbock, die sich schon länger offiziell im Krieg mit Russland wähnt, – nun keine Russen sehen: Sie sollen notfalls rausgeschmissen werden.

«Die Grundsatzfrage lautet: Geht es Russland um einen angemessenen Platz in einer globalen Sicherheitsarchitektur, oder ist Moskau schon seit langem auf einem imperialistischen Trip, der befürchten lassen muss, dass die Russen in fünf Jahren in Berlin stehen?»

So bringt Gabriele Krone-Schmalz [7] die eigentliche Frage auf den Punkt, die zur Einschätzung der Situation letztlich auch jeder für sich beantworten muss.

Was ist los in der Ukraine?

In der internationalen Politik geht es nie um Demokratie oder Menschenrechte, sondern immer um Interessen von Staaten. Diese These stammt von Egon Bahr, einem der Architekten der deutschen Ostpolitik des «Wandels durch Annäherung» aus den 1960er und 70er Jahren. Sie trifft auch auf den Ukraine-Konflikt zu, den handfeste geostrategische und wirtschaftliche Interessen beherrschen, obwohl dort angeblich «unsere Demokratie» verteidigt wird.

Es ist ein wesentliches Element des Ukraine-Narrativs und Teil der Manipulation, die Vorgeschichte des Krieges wegzulassen – mindestens die vor der russischen «Annexion» der Halbinsel Krim im März 2014, aber oft sogar komplett diejenige vor der Invasion Ende Februar 2022. Das Thema ist komplex, aber einige Aspekte, die für eine Beurteilung nicht unwichtig sind, will ich wenigstens kurz skizzieren. [8]

Das Gebiet der heutigen Ukraine und Russlands – die übrigens in der «Kiewer Rus» gemeinsame Wurzeln haben – hat der britische Geostratege Halford Mackinder bereits 1904 als eurasisches «Heartland» bezeichnet, dessen Kontrolle er eine große Bedeutung für die imperiale Strategie Großbritanniens zumaß. Für den ehemaligen Sicherheits- und außenpolitischen Berater mehrerer US-amerikanischer Präsidenten und Mitgründer der Trilateralen Kommission, Zbigniew Brzezinski, war die Ukraine nach der Auflösung der Sowjetunion ein wichtiger Spielstein auf dem «eurasischen Schachbrett», wegen seiner Nähe zu Russland, seiner Bodenschätze und seines Zugangs zum Schwarzen Meer.

Die Ukraine ist seit langem ein gespaltenes Land. Historisch zerrissen als Spielball externer Interessen und geprägt von ethnischen, kulturellen, religiösen und geografischen Unterschieden existiert bis heute, grob gesagt, eine Ost-West-Spaltung, welche die Suche nach einer nationalen Identität stark erschwert.

Insbesondere im Zuge der beiden Weltkriege sowie der Russischen Revolution entstanden tiefe Risse in der Bevölkerung. Ukrainer kämpften gegen Ukrainer, zum Beispiel die einen auf der Seite von Hitlers faschistischer Nazi-Armee und die anderen auf der von Stalins kommunistischer Roter Armee. Die Verbrechen auf beiden Seiten sind nicht vergessen. Dass nach der Unabhängigkeit 1991 versucht wurde, Figuren wie den radikalen Nationalisten Symon Petljura oder den Faschisten und Nazi-Kollaborateur Stepan Bandera als «Nationalhelden» zu installieren, verbessert die Sache nicht.

Während die USA und EU-Staaten zunehmend «ausländische Einmischung» (speziell russische) in «ihre Demokratien» wittern, betreiben sie genau dies seit Jahrzehnten in vielen Ländern der Welt. Die seit den 2000er Jahren bekannten «Farbrevolutionen» in Osteuropa werden oft als Methode des Regierungsumsturzes durch von außen gesteuerte «demokratische» Volksaufstände beschrieben. Diese Strategie geht auf Analysen zum «Schwarmverhalten» [9] seit den 1960er Jahren zurück (Studentenproteste), wo es um die potenzielle Wirksamkeit einer «rebellischen Hysterie» von Jugendlichen bei postmodernen Staatsstreichen geht. Heute nennt sich dieses gezielte Kanalisieren der Massen zur Beseitigung unkooperativer Regierungen «Soft-Power».

In der Ukraine gab es mit der «Orangen Revolution» 2004 und dem «Euromaidan» 2014 gleich zwei solcher «Aufstände». Der erste erzwang wegen angeblicher Unregelmäßigkeiten eine Wiederholung der Wahlen, was mit Wiktor Juschtschenko als neuem Präsidenten endete. Dieser war ehemaliger Direktor der Nationalbank und Befürworter einer Annäherung an EU und NATO. Seine Frau, die First Lady, ist US-amerikanische «Philanthropin» und war Beamtin im Weißen Haus in der Reagan- und der Bush-Administration.

Im Gegensatz zu diesem ersten Event endete der sogenannte Euromaidan unfriedlich und blutig. Die mehrwöchigen Proteste gegen Präsident Wiktor Janukowitsch, in Teilen wegen des nicht unterzeichneten Assoziierungsabkommens mit der EU, wurden zunehmend gewalttätiger und von Nationalisten und Faschisten des «Rechten Sektors» dominiert. Sie mündeten Ende Februar 2014 auf dem Kiewer Unabhängigkeitsplatz (Maidan) in einem Massaker durch Scharfschützen. Dass deren Herkunft und die genauen Umstände nicht geklärt wurden, störte die Medien nur wenig. [10]

Janukowitsch musste fliehen, er trat nicht zurück. Vielmehr handelte es sich um einen gewaltsamen, allem Anschein nach vom Westen inszenierten Putsch. Laut Jeffrey Sachs war das kein Geheimnis, außer vielleicht für die Bürger. Die USA unterstützten die Post-Maidan-Regierung nicht nur, sie beeinflussten auch ihre Bildung. Das geht unter anderem aus dem berühmten «Fuck the EU»-Telefonat der US-Chefdiplomatin für die Ukraine, Victoria Nuland, mit Botschafter Geoffrey Pyatt hervor.

Dieser Bruch der demokratischen Verfassung war letztlich der Auslöser für die anschließenden Krisen auf der Krim und im Donbass (Ostukraine). Angesichts der ukrainischen Geschichte mussten die nationalistischen Tendenzen und die Beteiligung der rechten Gruppen an dem Umsturz bei der russigsprachigen Bevölkerung im Osten ungute Gefühle auslösen. Es gab Kritik an der Übergangsregierung, Befürworter einer Abspaltung und auch für einen Anschluss an Russland.

Ebenso konnte Wladimir Putin in dieser Situation durchaus Bedenken wegen des Status der russischen Militärbasis für seine Schwarzmeerflotte in Sewastopol auf der Krim haben, für die es einen langfristigen Pachtvertrag mit der Ukraine gab. Was im März 2014 auf der Krim stattfand, sei keine Annexion, sondern eine Abspaltung (Sezession) nach einem Referendum gewesen, also keine gewaltsame Aneignung, urteilte der Rechtswissenschaftler Reinhard Merkel in der FAZ sehr detailliert begründet. Übrigens hatte die Krim bereits zu Zeiten der Sowjetunion den Status einer autonomen Republik innerhalb der Ukrainischen SSR.

Anfang April 2014 wurden in der Ostukraine die «Volksrepubliken» Donezk und Lugansk ausgerufen. Die Kiewer Übergangsregierung ging unter der Bezeichnung «Anti-Terror-Operation» (ATO) militärisch gegen diesen, auch von Russland instrumentalisierten Widerstand vor. Zufällig war kurz zuvor CIA-Chef John Brennan in Kiew. Die Maßnahmen gingen unter dem seit Mai neuen ukrainischen Präsidenten, dem Milliardär Petro Poroschenko, weiter. Auch Wolodymyr Selenskyj beendete den Bürgerkrieg nicht, als er 2019 vom Präsidenten-Schauspieler, der Oligarchen entmachtet, zum Präsidenten wurde. Er fuhr fort, die eigene Bevölkerung zu bombardieren.

Mit dem Einmarsch russischer Truppen in die Ostukraine am 24. Februar 2022 begann die zweite Phase des Krieges. Die Wochen und Monate davor waren intensiv. Im November hatte die Ukraine mit den USA ein Abkommen über eine «strategische Partnerschaft» unterzeichnet. Darin sagten die Amerikaner ihre Unterstützung der EU- und NATO-Perspektive der Ukraine sowie quasi für die Rückeroberung der Krim zu. Dagegen ließ Putin der NATO und den USA im Dezember 2021 einen Vertragsentwurf über beiderseitige verbindliche Sicherheitsgarantien zukommen, den die NATO im Januar ablehnte. Im Februar eskalierte laut OSZE die Gewalt im Donbass.

Bereits wenige Wochen nach der Invasion, Ende März 2022, kam es in Istanbul zu Friedensverhandlungen, die fast zu einer Lösung geführt hätten. Dass der Krieg nicht damals bereits beendet wurde, lag daran, dass der Westen dies nicht wollte. Man war der Meinung, Russland durch die Ukraine in diesem Stellvertreterkrieg auf Dauer militärisch schwächen zu können. Angesichts von Hunderttausenden Toten, Verletzten und Traumatisierten, die als Folge seitdem zu beklagen sind, sowie dem Ausmaß der Zerstörung, fehlen einem die Worte.

Hasst der Westen die Russen?

Diese Frage drängt sich auf, wenn man das oft unerträglich feindselige Gebaren beobachtet, das beileibe nicht neu ist und vor Doppelmoral trieft. Russland und speziell die Person Wladimir Putins werden regelrecht dämonisiert, was gleichzeitig scheinbar jede Form von Diplomatie ausschließt.

Russlands militärische Stärke, seine geografische Lage, sein Rohstoffreichtum oder seine unabhängige diplomatische Tradition sind sicher Störfaktoren für das US-amerikanische Bestreben, der Boss in einer unipolaren Welt zu sein. Ein womöglich funktionierender eurasischer Kontinent, insbesondere gute Beziehungen zwischen Russland und Deutschland, war indes schon vor dem Ersten Weltkrieg eine Sorge des britischen Imperiums.

Ein «Vergehen» von Präsident Putin könnte gewesen sein, dass er die neoliberale Schocktherapie à la IWF und den Ausverkauf des Landes (auch an US-Konzerne) beendete, der unter seinem Vorgänger herrschte. Dabei zeigte er sich als Führungspersönlichkeit und als nicht so formbar wie Jelzin. Diese Aspekte allein sind aber heute vermutlich keine ausreichende Erklärung für ein derart gepflegtes Feindbild.

Der Historiker und Philosoph Hauke Ritz erweitert den Fokus der Fragestellung zu: «Warum hasst der Westen die Russen so sehr?», was er zum Beispiel mit dem Medienforscher Michael Meyen und mit der Politikwissenschaftlerin Ulrike Guérot bespricht. Ritz stellt die interessante These [11] auf, dass Russland eine Provokation für den Westen sei, welcher vor allem dessen kulturelles und intellektuelles Potenzial fürchte.

Die Russen sind Europäer aber anders, sagt Ritz. Diese «Fremdheit in der Ähnlichkeit» erzeuge vielleicht tiefe Ablehnungsgefühle. Obwohl Russlands Identität in der europäischen Kultur verwurzelt ist, verbinde es sich immer mit der Opposition in Europa. Als Beispiele nennt er die Kritik an der katholischen Kirche oder die Verbindung mit der Arbeiterbewegung. Christen, aber orthodox; Sozialismus statt Liberalismus. Das mache das Land zum Antagonisten des Westens und zu einer Bedrohung der Machtstrukturen in Europa.

Fazit

Selbstverständlich kann man Geschichte, Ereignisse und Entwicklungen immer auf verschiedene Arten lesen. Dieser Artikel, obwohl viel zu lang, konnte nur einige Aspekte der Ukraine-Tragödie anreißen, die in den offiziellen Darstellungen in der Regel nicht vorkommen. Mindestens dürfte damit jedoch klar geworden sein, dass die Russische Föderation bzw. Wladimir Putin nicht der alleinige Aggressor in diesem Konflikt ist. Das ist ein Stellvertreterkrieg zwischen USA/NATO (gut) und Russland (böse); die Ukraine (edel) wird dabei schlicht verheizt.

Das ist insofern von Bedeutung, als die gesamte europäische Kriegshysterie auf sorgsam kultivierten Freund-Feind-Bildern beruht. Nur so kann Konfrontation und Eskalation betrieben werden, denn damit werden die wahren Hintergründe und Motive verschleiert. Angst und Propaganda sind notwendig, damit die Menschen den Wahnsinn mitmachen. Sie werden belogen, um sie zuerst zu schröpfen und anschließend auf die Schlachtbank zu schicken. Das kann niemand wollen, außer den stets gleichen Profiteuren: die Rüstungs-Lobby und die großen Investoren, die schon immer an Zerstörung und Wiederaufbau verdient haben.

Apropos Investoren: Zu den Top-Verdienern und somit Hauptinteressenten an einer Fortführung des Krieges zählt BlackRock, einer der weltgrößten Vermögensverwalter. Der deutsche Bundeskanzler in spe, Friedrich Merz, der gerne «Taurus»-Marschflugkörper an die Ukraine liefern und die Krim-Brücke zerstören möchte, war von 2016 bis 2020 Aufsichtsratsvorsitzender von BlackRock in Deutschland. Aber das hat natürlich nichts zu sagen, der Mann macht nur seinen Job.

Es ist ein Spiel der Kräfte, es geht um Macht und strategische Kontrolle, um Geheimdienste und die Kontrolle der öffentlichen Meinung, um Bodenschätze, Rohstoffe, Pipelines und Märkte. Das klingt aber nicht sexy, «Demokratie und Menschenrechte» hört sich besser und einfacher an. Dabei wäre eine für alle Seiten förderliche Politik auch nicht so kompliziert; das Handwerkszeug dazu nennt sich Diplomatie. Noch einmal Gabriele Krone-Schmalz:

«Friedliche Politik ist nichts anderes als funktionierender Interessenausgleich. Da geht’s nicht um Moral.»

Die Situation in der Ukraine ist sicher komplex, vor allem wegen der inneren Zerrissenheit. Es dürfte nicht leicht sein, eine friedliche Lösung für das Zusammenleben zu finden, aber die Beteiligten müssen es vor allem wollen. Unter den gegebenen Umständen könnte eine sinnvolle Perspektive mit Neutralität und föderalen Strukturen zu tun haben.

Allen, die sich bis hierher durch die Lektüre gearbeitet (oder auch einfach nur runtergescrollt) haben, wünsche ich frohe Oster-Friedenstage!

[Titelbild: Pixabay; Abb. 1 und 2: nach Ganser/SIPER; Abb. 3: SIPER]

--- Quellen: ---

[1] Albrecht Müller, «Glaube wenig. Hinterfrage alles. Denke selbst.», Westend 2019

[2] Zwei nette Beispiele:

• ARD-faktenfinder (sic), «Viel Aufmerksamkeit für fragwürdige Experten», 03/2023
• Neue Zürcher Zeitung, «Aufstieg und Fall einer Russlandversteherin – die ehemalige ARD-Korrespondentin Gabriele Krone-Schmalz rechtfertigt seit Jahren Putins Politik», 12/2022

[3] George Washington University, «NATO Expansion: What Gorbachev Heard – Declassified documents show security assurances against NATO expansion to Soviet leaders from Baker, Bush, Genscher, Kohl, Gates, Mitterrand, Thatcher, Hurd, Major, and Woerner», 12/2017

[4] Beispielsweise Wladimir Putin bei seiner Rede im Deutschen Bundestag, 25/09/2001

[5] William Engdahl, «Full Spectrum Dominance, Totalitarian Democracy In The New World Order», edition.engdahl 2009

[6] Daniele Ganser, «Illegale Kriege – Wie die NATO-Länder die UNO sabotieren. Eine Chronik von Kuba bis Syrien», Orell Füssli 2016

[7] Gabriele Krone-Schmalz, «Mit Friedensjournalismus gegen ‘Kriegstüchtigkeit’», Vortrag und Diskussion an der Universität Hamburg, veranstaltet von engagierten Studenten, 16/01/2025\ → Hier ist ein ähnlicher Vortrag von ihr (Video), den ich mit spanischer Übersetzung gefunden habe.

[8] Für mehr Hintergrund und Details empfehlen sich z.B. folgende Bücher:

• Mathias Bröckers, Paul Schreyer, «Wir sind immer die Guten», Westend 2019
• Gabriele Krone-Schmalz, «Russland verstehen? Der Kampf um die Ukraine und die Arroganz des Westens», Westend 2023
• Patrik Baab, «Auf beiden Seiten der Front – Meine Reisen in die Ukraine», Fiftyfifty 2023

[9] vgl. Jonathan Mowat, «Washington's New World Order "Democratization" Template», 02/2005 und RAND Corporation, «Swarming and the Future of Conflict», 2000

[10] Bemerkenswert einige Beiträge, von denen man später nichts mehr wissen wollte:

• ARD Monitor, «Todesschüsse in Kiew: Wer ist für das Blutbad vom Maidan verantwortlich», 10/04/2014, Transkript hier
• Telepolis, «Blutbad am Maidan: Wer waren die Todesschützen?», 12/04/2014
• Telepolis, «Scharfschützenmorde in Kiew», 14/12/2014
• Deutschlandfunk, «Gefahr einer Spirale nach unten», Interview mit Günter Verheugen, 18/03/2014
• NDR Panorama, «Putsch in Kiew: Welche Rolle spielen die Faschisten?», 06/03/2014

[11] Hauke Ritz, «Vom Niedergang des Westens zur Neuerfindung Europas», 2024

---

Dieser Beitrag wurde mit dem Pareto-Client geschrieben.

@ 04c915da:3dfbecc9

Here’s a revised timeline of macro-level events from The Mandibles: A Family, 2029–2047 by Lionel Shriver, reimagined in a world where Bitcoin is adopted as a widely accepted form of money, altering the original narrative’s assumptions about currency collapse and economic control. In Shriver’s original story, the failure of Bitcoin is assumed amid the dominance of the bancor and the dollar’s collapse. Here, Bitcoin’s success reshapes the economic and societal trajectory, decentralizing power and challenging state-driven outcomes.

Part One: 2029–2032

• 2029 (Early Year)\ The United States faces economic strain as the dollar weakens against global shifts. However, Bitcoin, having gained traction emerges as a viable alternative. Unlike the original timeline, the bancor—a supranational currency backed by a coalition of nations—struggles to gain footing as Bitcoin’s decentralized adoption grows among individuals and businesses worldwide, undermining both the dollar and the bancor.

• 2029 (Mid-Year: The Great Renunciation)\ Treasury bonds lose value, and the government bans Bitcoin, labeling it a threat to sovereignty (mirroring the original bancor ban). However, a Bitcoin ban proves unenforceable—its decentralized nature thwarts confiscation efforts, unlike gold in the original story. Hyperinflation hits the dollar as the U.S. prints money, but Bitcoin’s fixed supply shields adopters from currency devaluation, creating a dual-economy split: dollar users suffer, while Bitcoin users thrive.

• 2029 (Late Year)\ Dollar-based inflation soars, emptying stores of goods priced in fiat currency. Meanwhile, Bitcoin transactions flourish in underground and online markets, stabilizing trade for those plugged into the bitcoin ecosystem. Traditional supply chains falter, but peer-to-peer Bitcoin networks enable local and international exchange, reducing scarcity for early adopters. The government’s gold confiscation fails to bolster the dollar, as Bitcoin’s rise renders gold less relevant.

• 2030–2031\ Crime spikes in dollar-dependent urban areas, but Bitcoin-friendly regions see less chaos, as digital wallets and smart contracts facilitate secure trade. The U.S. government doubles down on surveillance to crack down on bitcoin use. A cultural divide deepens: centralized authority weakens in Bitcoin-adopting communities, while dollar zones descend into lawlessness.

• 2032\ By this point, Bitcoin is de facto legal tender in parts of the U.S. and globally, especially in tech-savvy or libertarian-leaning regions. The federal government’s grip slips as tax collection in dollars plummets—Bitcoin’s traceability is low, and citizens evade fiat-based levies. Rural and urban Bitcoin hubs emerge, while the dollar economy remains fractured.

Time Jump: 2032–2047

• Over 15 years, Bitcoin solidifies as a global reserve currency, eroding centralized control. The U.S. government adapts, grudgingly integrating bitcoin into policy, though regional autonomy grows as Bitcoin empowers local economies.

Part Two: 2047

• 2047 (Early Year)\ The U.S. is a hybrid state: Bitcoin is legal tender alongside a diminished dollar. Taxes are lower, collected in BTC, reducing federal overreach. Bitcoin’s adoption has decentralized power nationwide. The bancor has faded, unable to compete with Bitcoin’s grassroots momentum.

• 2047 (Mid-Year)\ Travel and trade flow freely in Bitcoin zones, with no restrictive checkpoints. The dollar economy lingers in poorer areas, marked by decay, but Bitcoin’s dominance lifts overall prosperity, as its deflationary nature incentivizes saving and investment over consumption. Global supply chains rebound, powered by bitcoin enabled efficiency.

• 2047 (Late Year)\ The U.S. is a patchwork of semi-autonomous zones, united by Bitcoin’s universal acceptance rather than federal control. Resource scarcity persists due to past disruptions, but economic stability is higher than in Shriver’s original dystopia—Bitcoin’s success prevents the authoritarian slide, fostering a freer, if imperfect, society.

Key Differences

• Currency Dynamics: Bitcoin’s triumph prevents the bancor’s dominance and mitigates hyperinflation’s worst effects, offering a lifeline outside state control.
• Government Power: Centralized authority weakens as Bitcoin evades bans and taxation, shifting power to individuals and communities.
• Societal Outcome: Instead of a surveillance state, 2047 sees a decentralized, bitcoin driven world—less oppressive, though still stratified between Bitcoin haves and have-nots.

This reimagining assumes Bitcoin overcomes Shriver’s implied skepticism to become a robust, adopted currency by 2029, fundamentally altering the novel’s bleak trajectory.

@ 17538dc2:71ed77c4

The MacOS security update summary is a reminder that laptops and desktops are incredibly compromised.

macOS Sequoia 15.4

Released March 31, 2025

Accessibility Available for: macOS Sequoia

Impact: An app may be able to access sensitive user data

Description: A logging issue was addressed with improved data redaction.

CVE-2025-24202: Zhongcheng Li from IES Red Team of ByteDance

AccountPolicy Available for: macOS Sequoia

Impact: A malicious app may be able to gain root privileges

Description: This issue was addressed by removing the vulnerable code.

CVE-2025-24234: an anonymous researcher

AirDrop Available for: macOS Sequoia

Impact: An app may be able to read arbitrary file metadata

Description: A permissions issue was addressed with additional restrictions.

CVE-2025-24097: Ron Masas of BREAKPOINT.SH

App Store Available for: macOS Sequoia

Impact: A malicious app may be able to access private information

Description: This issue was addressed by removing the vulnerable code.

CVE-2025-24276: an anonymous researcher

AppleMobileFileIntegrity Available for: macOS Sequoia

Impact: An app may be able to modify protected parts of the file system

Description: The issue was addressed with improved checks.

CVE-2025-24272: Mickey Jin (@patch1t)

AppleMobileFileIntegrity Available for: macOS Sequoia

Impact: An app may be able to access protected user data

Description: A downgrade issue was addressed with additional code-signing restrictions.

CVE-2025-24239: Wojciech Regula of SecuRing (wojciechregula.blog)

AppleMobileFileIntegrity Available for: macOS Sequoia

Impact: A malicious app may be able to read or write to protected files

Description: A permissions issue was addressed with additional restrictions.

CVE-2025-24233: Claudio Bozzato and Francesco Benvenuto of Cisco Talos.

AppleMobileFileIntegrity Available for: macOS Sequoia

Impact: An app may be able to access user-sensitive data

Description: A privacy issue was addressed by removing the vulnerable code.

CVE-2025-30443: Bohdan Stasiuk (@bohdan_stasiuk)

Audio Available for: macOS Sequoia

Impact: Processing a maliciously crafted font may result in the disclosure of process memory

Description: The issue was addressed with improved memory handling.

CVE-2025-24244: Hossein Lotfi (@hosselot) of Trend Micro Zero Day Initiative

Audio Available for: macOS Sequoia

Impact: Processing a maliciously crafted file may lead to arbitrary code execution

Description: The issue was addressed with improved memory handling.

CVE-2025-24243: Hossein Lotfi (@hosselot) of Trend Micro Zero Day Initiative

Authentication Services Available for: macOS Sequoia

Impact: Password autofill may fill in passwords after failing authentication

Description: This issue was addressed through improved state management.

CVE-2025-30430: Dominik Rath

Authentication Services Available for: macOS Sequoia

Impact: A malicious website may be able to claim WebAuthn credentials from another website that shares a registrable suffix

Description: The issue was addressed with improved input validation.

CVE-2025-24180: Martin Kreichgauer of Google Chrome

Authentication Services Available for: macOS Sequoia

Impact: A malicious app may be able to access a user's saved passwords

Description: This issue was addressed by adding a delay between verification code attempts.

CVE-2025-24245: Ian Mckay (@iann0036)

Automator Available for: macOS Sequoia

Impact: An app may be able to access protected user data

Description: A permissions issue was addressed by removing vulnerable code and adding additional checks.

CVE-2025-30460: an anonymous researcher

BiometricKit Available for: macOS Sequoia

Impact: An app may be able to cause unexpected system termination

Description: A buffer overflow was addressed with improved bounds checking.

CVE-2025-24237: Yutong Xiu

Calendar Available for: macOS Sequoia

Impact: An app may be able to break out of its sandbox

Description: A path handling issue was addressed with improved validation.

CVE-2025-30429: Denis Tokarev (@illusionofcha0s)

Calendar Available for: macOS Sequoia

Impact: An app may be able to break out of its sandbox

Description: This issue was addressed with improved checks.

CVE-2025-24212: Denis Tokarev (@illusionofcha0s)

CloudKit Available for: macOS Sequoia

Impact: A malicious app may be able to access private information

Description: The issue was addressed with improved checks.

CVE-2025-24215: Kirin (@Pwnrin)

CoreAudio Available for: macOS Sequoia

Impact: Parsing a file may lead to an unexpected app termination

Description: The issue was addressed with improved checks.

CVE-2025-24163: Google Threat Analysis Group

CoreAudio Available for: macOS Sequoia

Impact: Playing a malicious audio file may lead to an unexpected app termination

Description: An out-of-bounds read issue was addressed with improved input validation.

CVE-2025-24230: Hossein Lotfi (@hosselot) of Trend Micro Zero Day Initiative

CoreMedia Available for: macOS Sequoia

Impact: Processing a maliciously crafted video file may lead to unexpected app termination or corrupt process memory

Description: This issue was addressed with improved memory handling.

CVE-2025-24211: Hossein Lotfi (@hosselot) of Trend Micro Zero Day Initiative

CoreMedia Available for: macOS Sequoia

Impact: An app may be able to access sensitive user data

Description: An access issue was addressed with additional sandbox restrictions.

CVE-2025-24236: Csaba Fitzl (@theevilbit) and Nolan Astrein of Kandji

CoreMedia Available for: macOS Sequoia

Impact: Processing a maliciously crafted video file may lead to unexpected app termination or corrupt process memory

Description: The issue was addressed with improved memory handling.

CVE-2025-24190: Hossein Lotfi (@hosselot) of Trend Micro Zero Day Initiative

CoreMedia Playback Available for: macOS Sequoia

Impact: A malicious app may be able to access private information

Description: A path handling issue was addressed with improved validation.

CVE-2025-30454: pattern-f (@pattern_F_)

CoreServices Description: This issue was addressed through improved state management.

CVE-2025-31191: Jonathan Bar Or (@yo_yo_yo_jbo) of Microsoft, and an anonymous researcher Available for: macOS Sequoia

Impact: An app may be able to access sensitive user data

CoreText Available for: macOS Sequoia

Impact: Processing a maliciously crafted font may result in the disclosure of process memory

Description: An out-of-bounds read issue was addressed with improved input validation.

CVE-2025-24182: Hossein Lotfi (@hosselot) of Trend Micro Zero Day Initiative

Crash Reporter Available for: macOS Sequoia

Impact: An app may be able to gain root privileges

Description: A parsing issue in the handling of directory paths was addressed with improved path validation.

CVE-2025-24277: Csaba Fitzl (@theevilbit) of Kandji and Gergely Kalman (@gergely_kalman), and an anonymous researcher

curl Available for: macOS Sequoia

Impact: An input validation issue was addressed

Description: This is a vulnerability in open source code and Apple Software is among the affected projects. The CVE-ID was assigned by a third party. Learn more about the issue and CVE-ID at cve.org.

CVE-2024-9681

Disk Images Available for: macOS Sequoia

Impact: An app may be able to break out of its sandbox

Description: A file access issue was addressed with improved input validation.

CVE-2025-24255: an anonymous researcher

DiskArbitration Available for: macOS Sequoia

Impact: An app may be able to gain root privileges

Description: A parsing issue in the handling of directory paths was addressed with improved path validation.

CVE-2025-30456: Gergely Kalman (@gergely_kalman)

DiskArbitration Available for: macOS Sequoia

Impact: An app may be able to gain root privileges

Description: A permissions issue was addressed with additional restrictions.

CVE-2025-24267: an anonymous researcher

Dock Available for: macOS Sequoia

Impact: A malicious app may be able to access private information

Description: The issue was addressed with improved checks.

CVE-2025-30455: Mickey Jin (@patch1t), and an anonymous researcher

Dock Available for: macOS Sequoia

Impact: An app may be able to modify protected parts of the file system

Description: This issue was addressed by removing the vulnerable code.

CVE-2025-31187: Rodolphe BRUNETTI (@eisw0lf) of Lupus Nova

dyld Available for: macOS Sequoia

Impact: Apps that appear to use App Sandbox may be able to launch without restrictions

Description: A library injection issue was addressed with additional restrictions.

CVE-2025-30462: Pietro Francesco Tirenna, Davide Silvetti, Abdel Adim Oisfi of Shielder (shielder.com)

FaceTime Available for: macOS Sequoia

Impact: An app may be able to access sensitive user data

Description: This issue was addressed with improved redaction of sensitive information.

CVE-2025-30451: Kirin (@Pwnrin) and luckyu (@uuulucky)

FeedbackLogger Available for: macOS Sequoia

Impact: An app may be able to access sensitive user data

Description: This issue was addressed with improved data protection.

CVE-2025-24281: Rodolphe BRUNETTI (@eisw0lf)

Focus Available for: macOS Sequoia

Impact: An attacker with physical access to a locked device may be able to view sensitive user information

Description: The issue was addressed with improved checks.

CVE-2025-30439: Andr.Ess

Focus Available for: macOS Sequoia

Impact: An app may be able to access sensitive user data

Description: A logging issue was addressed with improved data redaction.

CVE-2025-24283: Kirin (@Pwnrin)

Foundation Available for: macOS Sequoia

Impact: An app may be able to access protected user data

Description: An access issue was addressed with additional sandbox restrictions on the system pasteboards.

CVE-2025-30461: an anonymous researcher

Foundation Available for: macOS Sequoia

Impact: An app may be able to access sensitive user data

Description: The issue was resolved by sanitizing logging

CVE-2025-30447: LFY@secsys from Fudan University

Foundation Available for: macOS Sequoia

Impact: An app may be able to cause a denial-of-service

Description: An uncontrolled format string issue was addressed with improved input validation.

CVE-2025-24199: Manuel Fernandez (Stackhopper Security)

GPU Drivers Available for: macOS Sequoia

Impact: An app may be able to cause unexpected system termination or corrupt kernel memory

Description: An out-of-bounds write issue was addressed with improved bounds checking.

CVE-2025-30464: ABC Research s.r.o.

CVE-2025-24273: Wang Yu of Cyberserval

GPU Drivers Available for: macOS Sequoia

Impact: An app may be able to disclose kernel memory

Description: The issue was addressed with improved bounds checks.

CVE-2025-24256: Anonymous working with Trend Micro Zero Day Initiative, Murray Mike

Handoff Available for: macOS Sequoia

Impact: An app may be able to access sensitive user data

Description: The issue was addressed with improved restriction of data container access.

CVE-2025-30463: mzzzz__

ImageIO Available for: macOS Sequoia

Impact: Parsing an image may lead to disclosure of user information

Description: A logic error was addressed with improved error handling.

CVE-2025-24210: Anonymous working with Trend Micro Zero Day Initiative

Installer Available for: macOS Sequoia

Impact: An app may be able to check the existence of an arbitrary path on the file system

Description: A permissions issue was addressed with additional sandbox restrictions.

CVE-2025-24249: YingQi Shi(@Mas0nShi) of DBAppSecurity's WeBin lab and Minghao Lin (@Y1nKoc)

Installer Available for: macOS Sequoia

Impact: A sandboxed app may be able to access sensitive user data

Description: A logic issue was addressed with improved checks.

CVE-2025-24229: an anonymous researcher

IOGPUFamily Available for: macOS Sequoia

Impact: An app may be able to cause unexpected system termination or write kernel memory

Description: An out-of-bounds write issue was addressed with improved input validation.

CVE-2025-24257: Wang Yu of Cyberserval

IOMobileFrameBuffer Available for: macOS Sequoia

Impact: An app may be able to corrupt coprocessor memory

Description: The issue was addressed with improved bounds checks.

CVE-2025-30437: Ye Zhang (@VAR10CK) of Baidu Security

Kerberos Helper Available for: macOS Sequoia

Impact: A remote attacker may be able to cause unexpected app termination or heap corruption

Description: A memory initialization issue was addressed with improved memory handling.

CVE-2025-24235: Dave G.

Kernel Available for: macOS Sequoia

Impact: An app may be able to access protected user data

Description: The issue was addressed with improved checks.

CVE-2025-24204: Koh M. Nakagawa (@tsunek0h) of FFRI Security, Inc.

Kernel Available for: macOS Sequoia

Impact: An app may be able to modify protected parts of the file system

Description: The issue was addressed with improved checks.

CVE-2025-24203: Ian Beer of Google Project Zero

Kernel Available for: macOS Sequoia

Impact: An attacker with user privileges may be able to read kernel memory

Description: A type confusion issue was addressed with improved memory handling.

CVE-2025-24196: Joseph Ravichandran (@0xjprx) of MIT CSAIL

LaunchServices Available for: macOS Sequoia

Impact: A malicious JAR file may bypass Gatekeeper checks

Description: This issue was addressed with improved handling of executable types.

CVE-2025-24148: Kenneth Chew

libarchive Available for: macOS Sequoia

Impact: An input validation issue was addressed

Description: This is a vulnerability in open source code and Apple Software is among the affected projects. The CVE-ID was assigned by a third party. Learn more about the issue and CVE-ID at cve.org.

CVE-2024-48958

Libinfo Available for: macOS Sequoia

Impact: A user may be able to elevate privileges

Description: An integer overflow was addressed with improved input validation.

CVE-2025-24195: Paweł Płatek (Trail of Bits)

libnetcore Available for: macOS Sequoia

Impact: Processing maliciously crafted web content may result in the disclosure of process memory

Description: A logic issue was addressed with improved checks.

CVE-2025-24194: an anonymous researcher

libxml2 Available for: macOS Sequoia

Impact: Parsing a file may lead to an unexpected app termination

Description: This is a vulnerability in open source code and Apple Software is among the affected projects. The CVE-ID was assigned by a third party. Learn more about the issue and CVE-ID at cve.org.

CVE-2025-27113

CVE-2024-56171

libxpc Available for: macOS Sequoia

Impact: An app may be able to break out of its sandbox

Description: This issue was addressed through improved state management.

CVE-2025-24178: an anonymous researcher

libxpc Available for: macOS Sequoia

Impact: An app may be able to delete files for which it does not have permission

Description: This issue was addressed with improved handling of symlinks.

CVE-2025-31182: Alex Radocea and Dave G. of Supernetworks, 风沐云烟(@binary_fmyy) and Minghao Lin(@Y1nKoc)

libxpc Available for: macOS Sequoia

Impact: An app may be able to gain elevated privileges

Description: A logic issue was addressed with improved checks.

CVE-2025-24238: an anonymous researcher

Mail Available for: macOS Sequoia

Impact: "Block All Remote Content" may not apply for all mail previews

Description: A permissions issue was addressed with additional sandbox restrictions.

CVE-2025-24172: an anonymous researcher

manpages Available for: macOS Sequoia

Impact: An app may be able to access sensitive user data

Description: This issue was addressed with improved validation of symlinks.

CVE-2025-30450: Pwn2car

Maps Available for: macOS Sequoia

Impact: An app may be able to read sensitive location information

Description: A path handling issue was addressed with improved logic.

CVE-2025-30470: LFY@secsys from Fudan University

NetworkExtension Available for: macOS Sequoia

Impact: An app may be able to enumerate a user's installed apps

Description: This issue was addressed with additional entitlement checks.

CVE-2025-30426: Jimmy

Notes Available for: macOS Sequoia

Impact: A sandboxed app may be able to access sensitive user data in system logs

Description: A privacy issue was addressed with improved private data redaction for log entries.

CVE-2025-24262: LFY@secsys from Fudan University

NSDocument Available for: macOS Sequoia

Impact: A malicious app may be able to access arbitrary files

Description: This issue was addressed through improved state management.

CVE-2025-24232: an anonymous researcher

OpenSSH Available for: macOS Sequoia

Impact: An app may be able to access user-sensitive data

Description: An injection issue was addressed with improved validation.

CVE-2025-24246: Mickey Jin (@patch1t)

PackageKit Available for: macOS Sequoia

Impact: An app may be able to modify protected parts of the file system

Description: The issue was addressed with improved checks.

CVE-2025-24261: Mickey Jin (@patch1t)

PackageKit Available for: macOS Sequoia

Impact: An app may be able to modify protected parts of the file system

Description: A logic issue was addressed with improved checks.

CVE-2025-24164: Mickey Jin (@patch1t)

PackageKit Available for: macOS Sequoia

Impact: A malicious app with root privileges may be able to modify the contents of system files

Description: A permissions issue was addressed with additional restrictions.

CVE-2025-30446: Pedro Tôrres (@t0rr3sp3dr0)

Parental Controls Available for: macOS Sequoia

Impact: An app may be able to retrieve Safari bookmarks without an entitlement check

Description: This issue was addressed with additional entitlement checks.

CVE-2025-24259: Noah Gregory (wts.dev)

Photos Storage Available for: macOS Sequoia

Impact: Deleting a conversation in Messages may expose user contact information in system logging

Description: A logging issue was addressed with improved data redaction.

CVE-2025-30424: an anonymous researcher

Power Services Available for: macOS Sequoia

Impact: An app may be able to break out of its sandbox

Description: This issue was addressed with additional entitlement checks.

CVE-2025-24173: Mickey Jin (@patch1t)

Python Available for: macOS Sequoia

Impact: A remote attacker may be able to bypass sender policy checks and deliver malicious content via email

Description: This is a vulnerability in open source code and Apple Software is among the affected projects. The CVE-ID was assigned by a third party. Learn more about the issue and CVE-ID at cve.org.

CVE-2023-27043

RPAC Available for: macOS Sequoia

Impact: An app may be able to modify protected parts of the file system

Description: The issue was addressed with improved validation of environment variables.

CVE-2025-24191: Claudio Bozzato and Francesco Benvenuto of Cisco Talos

Safari Available for: macOS Sequoia

Impact: Visiting a malicious website may lead to user interface spoofing

Description: The issue was addressed with improved UI.

CVE-2025-24113: @RenwaX23

Safari Available for: macOS Sequoia

Impact: Visiting a malicious website may lead to address bar spoofing

Description: The issue was addressed with improved checks.

CVE-2025-30467: @RenwaX23

Safari Available for: macOS Sequoia

Impact: A website may be able to access sensor information without user consent

Description: The issue was addressed with improved checks.

CVE-2025-31192: Jaydev Ahire

Safari Available for: macOS Sequoia

Impact: A download's origin may be incorrectly associated

Description: This issue was addressed through improved state management.

CVE-2025-24167: Syarif Muhammad Sajjad

Sandbox Available for: macOS Sequoia

Impact: An app may be able to access removable volumes without user consent

Description: A permissions issue was addressed with additional restrictions.

CVE-2025-24093: Yiğit Can YILMAZ (@yilmazcanyigit)

Sandbox Available for: macOS Sequoia

Impact: An input validation issue was addressed

Description: The issue was addressed with improved checks.

CVE-2025-30452: an anonymous researcher

Sandbox Available for: macOS Sequoia

Impact: An app may be able to access protected user data

Description: A permissions issue was addressed with additional restrictions.

CVE-2025-24181: Arsenii Kostromin (0x3c3e)

SceneKit Available for: macOS Sequoia

Impact: An app may be able to read files outside of its sandbox

Description: A permissions issue was addressed with additional restrictions.

CVE-2025-30458: Mickey Jin (@patch1t)

Security Available for: macOS Sequoia

Impact: A remote user may be able to cause a denial-of-service

Description: A validation issue was addressed with improved logic.

CVE-2025-30471: Bing Shi, Wenchao Li, Xiaolong Bai of Alibaba Group, Luyi Xing of Indiana University Bloomington

Security Available for: macOS Sequoia

Impact: A malicious app acting as a HTTPS proxy could get access to sensitive user data

Description: This issue was addressed with improved access restrictions.

CVE-2025-24250: Wojciech Regula of SecuRing (wojciechregula.blog)

Share Sheet Available for: macOS Sequoia

Impact: A malicious app may be able to dismiss the system notification on the Lock Screen that a recording was started

Description: This issue was addressed with improved access restrictions.

CVE-2025-30438: Halle Winkler, Politepix theoffcuts.org

Shortcuts Available for: macOS Sequoia

Impact: A shortcut may be able to access files that are normally inaccessible to the Shortcuts app

Description: A permissions issue was addressed with improved validation.

CVE-2025-30465: an anonymous researcher

Shortcuts Available for: macOS Sequoia

Impact: An app may be able to access user-sensitive data

Description: An access issue was addressed with additional sandbox restrictions.

CVE-2025-24280: Kirin (@Pwnrin)

Shortcuts Available for: macOS Sequoia

Impact: A Shortcut may run with admin privileges without authentication

Description: An authentication issue was addressed with improved state management.

CVE-2025-31194: Dolf Hoegaerts

Shortcuts Available for: macOS Sequoia

Impact: A shortcut may be able to access files that are normally inaccessible to the Shortcuts app

Description: This issue was addressed with improved access restrictions.

CVE-2025-30433: Andrew James Gonzalez

Siri Available for: macOS Sequoia

Impact: An app may be able to access sensitive user data

Description: The issue was addressed with improved restriction of data container access.

CVE-2025-31183: Kirin (@Pwnrin), Bohdan Stasiuk (@bohdan_stasiuk)

Siri Available for: macOS Sequoia

Impact: A sandboxed app may be able to access sensitive user data in system logs

Description: This issue was addressed with improved redaction of sensitive information.

CVE-2025-30435: K宝 (@Pwnrin) and luckyu (@uuulucky)

Siri Available for: macOS Sequoia

Impact: An app may be able to access sensitive user data

Description: This issue was addressed with improved redaction of sensitive information.

CVE-2025-24217: Kirin (@Pwnrin)

Siri Available for: macOS Sequoia

Impact: An app may be able to access sensitive user data

Description: A privacy issue was addressed by not logging contents of text fields.

CVE-2025-24214: Kirin (@Pwnrin)

Siri Available for: macOS Sequoia

Impact: An app may be able to enumerate devices that have signed into the user's Apple Account

Description: A permissions issue was addressed with additional restrictions.

CVE-2025-24248: Minghao Lin (@Y1nKoc) and Tong Liu@Lyutoon_ and 风(binary_fmyy) and F00L

Siri Available for: macOS Sequoia

Impact: An app may be able to access user-sensitive data

Description: An authorization issue was addressed with improved state management.

CVE-2025-24205: YingQi Shi(@Mas0nShi) of DBAppSecurity's WeBin lab and Minghao Lin (@Y1nKoc)

Siri Available for: macOS Sequoia

Impact: An attacker with physical access may be able to use Siri to access sensitive user data

Description: This issue was addressed by restricting options offered on a locked device.

CVE-2025-24198: Richard Hyunho Im (@richeeta) with routezero.security

SMB Available for: macOS Sequoia

Impact: An app may be able to cause unexpected system termination

Description: The issue was addressed with improved memory handling.

CVE-2025-24269: Alex Radocea of Supernetworks

SMB Available for: macOS Sequoia

Impact: Mounting a maliciously crafted SMB network share may lead to system termination

Description: A race condition was addressed with improved locking.

CVE-2025-30444: Dave G.

SMB Available for: macOS Sequoia

Impact: An app may be able to execute arbitrary code with kernel privileges

Description: A buffer overflow issue was addressed with improved memory handling.

CVE-2025-24228: Joseph Ravichandran (@0xjprx) of MIT CSAIL

smbx Available for: macOS Sequoia

Impact: An attacker in a privileged position may be able to perform a denial-of-service

Description: The issue was addressed with improved memory handling.

CVE-2025-24260: zbleet of QI-ANXIN TianGong Team

Software Update Available for: macOS Sequoia

Impact: An app may be able to modify protected parts of the file system

Description: A library injection issue was addressed with additional restrictions.

CVE-2025-24282: Claudio Bozzato and Francesco Benvenuto of Cisco Talos

Software Update Available for: macOS Sequoia

Impact: A user may be able to elevate privileges

Description: This issue was addressed with improved validation of symlinks.

CVE-2025-24254: Arsenii Kostromin (0x3c3e)

Software Update Available for: macOS Sequoia

Impact: An app may be able to modify protected parts of the file system

Description: The issue was addressed with improved checks.

CVE-2025-24231: Claudio Bozzato and Francesco Benvenuto of Cisco Talos

StickerKit Available for: macOS Sequoia

Impact: An app may be able to observe unprotected user data

Description: A privacy issue was addressed by moving sensitive data to a protected location.

CVE-2025-24263: Cristian Dinca of "Tudor Vianu" National High School of Computer Science, Romania

Storage Management Available for: macOS Sequoia

Impact: An app may be able to enable iCloud storage features without user consent

Description: A permissions issue was addressed with additional restrictions.

CVE-2025-24207: YingQi Shi (@Mas0nShi) of DBAppSecurity's WeBin lab, 风沐云烟 (binary_fmyy) and Minghao Lin (@Y1nKoc)

StorageKit Available for: macOS Sequoia

Impact: An app may be able to gain root privileges

Description: A permissions issue was addressed with additional restrictions.

CVE-2025-30449: Arsenii Kostromin (0x3c3e), and an anonymous researcher

StorageKit Available for: macOS Sequoia

Impact: An app may be able to access protected user data

Description: This issue was addressed with improved handling of symlinks.

CVE-2025-24253: Mickey Jin (@patch1t), Csaba Fitzl (@theevilbit) of Kandji

StorageKit Available for: macOS Sequoia

Impact: An app may be able to access user-sensitive data

Description: A race condition was addressed with additional validation.

CVE-2025-24240: Mickey Jin (@patch1t)

StorageKit Available for: macOS Sequoia

Impact: An app may be able to bypass Privacy preferences

Description: A race condition was addressed with additional validation.

CVE-2025-31188: Mickey Jin (@patch1t)

Summarization Services Available for: macOS Sequoia

Impact: An app may be able to access information about a user's contacts

Description: A privacy issue was addressed with improved private data redaction for log entries.

CVE-2025-24218: Kirin and FlowerCode, Bohdan Stasiuk (@bohdan_stasiuk)

System Settings Available for: macOS Sequoia

Impact: An app may be able to access protected user data

Description: This issue was addressed with improved validation of symlinks.

CVE-2025-24278: Zhongquan Li (@Guluisacat)

System Settings Available for: macOS Sequoia

Impact: An app with root privileges may be able to access private information

Description: This issue was addressed with improved handling of symlinks.

CVE-2025-24242: Koh M. Nakagawa (@tsunek0h) of FFRI Security, Inc.

SystemMigration Available for: macOS Sequoia

Impact: A malicious app may be able to create symlinks to protected regions of the disk

Description: This issue was addressed with improved validation of symlinks.

CVE-2025-30457: Mickey Jin (@patch1t)

Voice Control Available for: macOS Sequoia

Impact: An app may be able to access contacts

Description: This issue was addressed with improved file handling.

CVE-2025-24279: Mickey Jin (@patch1t)

Web Extensions Available for: macOS Sequoia

Impact: An app may gain unauthorized access to Local Network

Description: This issue was addressed with improved permissions checking.

CVE-2025-31184: Alexander Heinrich (@Sn0wfreeze), SEEMOO, TU Darmstadt & Mathy Vanhoef (@vanhoefm) and Jeroen Robben (@RobbenJeroen), DistriNet, KU Leuven

Web Extensions Available for: macOS Sequoia

Impact: Visiting a website may leak sensitive data

Description: A script imports issue was addressed with improved isolation.

CVE-2025-24192: Vsevolod Kokorin (Slonser) of Solidlab

WebKit Available for: macOS Sequoia

Impact: Processing maliciously crafted web content may lead to an unexpected Safari crash

Description: The issue was addressed with improved memory handling.

WebKit Bugzilla: 285892

CVE-2025-24264: Gary Kwong, and an anonymous researcher

WebKit Bugzilla: 284055

CVE-2025-24216: Paul Bakker of ParagonERP

WebKit Available for: macOS Sequoia

Impact: A type confusion issue could lead to memory corruption

Description: This issue was addressed with improved handling of floats.

WebKit Bugzilla: 286694

CVE-2025-24213: Google V8 Security Team

WebKit Available for: macOS Sequoia

Impact: Processing maliciously crafted web content may lead to an unexpected process crash

Description: A buffer overflow issue was addressed with improved memory handling.

WebKit Bugzilla: 286462

CVE-2025-24209: Francisco Alonso (@revskills), and an anonymous researcher

WebKit Available for: macOS Sequoia

Impact: Processing maliciously crafted web content may lead to an unexpected Safari crash

Description: A use-after-free issue was addressed with improved memory management.

WebKit Bugzilla: 285643

CVE-2025-30427: rheza (@ginggilBesel)

WebKit Available for: macOS Sequoia

Impact: A malicious website may be able to track users in Safari private browsing mode

Description: This issue was addressed through improved state management.

WebKit Bugzilla: 286580

CVE-2025-30425: an anonymous researcher

WindowServer Available for: macOS Sequoia

Impact: An attacker may be able to cause unexpected app termination

Description: A type confusion issue was addressed with improved checks.

CVE-2025-24247: PixiePoint Security

WindowServer Available for: macOS Sequoia

Impact: An app may be able to trick a user into copying sensitive data to the pasteboard

Description: A configuration issue was addressed with additional restrictions.

CVE-2025-24241: Andreas Hegenberg (folivora.AI GmbH)

Xsan Available for: macOS Sequoia

Impact: An app may be able to cause unexpected system termination

Description: A buffer overflow was addressed with improved bounds checking.

CVE-2025-24266: an anonymous researcher

Xsan Available for: macOS Sequoia

Impact: An app may be able to cause unexpected system termination

Description: An out-of-bounds read was addressed with improved bounds checking.

CVE-2025-24265: an anonymous researcher

Xsan Available for: macOS Sequoia

Impact: An app may be able to cause unexpected system termination or corrupt kernel memory

Description: A buffer overflow issue was addressed with improved memory handling.

CVE-2025-24157: an anonymous researcher

@ 472f440f:5669301e

I'm sure some of you are already tired of the discussion around the H-1B visa program that was started on Christmas Eve by Vivek Ramaswamy and escalated by Elon Musk and others as the "Silicon Valley MAGA" coalition began putting forth legal immigration policy proposals for the incoming Trump administration. Core to their policy is the expansion of the H-1B visa program so that America can "recruit the best talent in the world" to come build the American economy.

Unfortunately, as it stands today - according to the Silicon Valley cognescenti, Americans are either a.) not smart enough to fulfill the roles necessary to enable the United States to maintain its lead as economic super power of the world or b.) expect too much in compensation for the available roles. At least this is my reading from the commentary I've seen over the last week.

What seems abundantly clear to me is that the framing put forth by "Silicon Valley MAGA" crew is disingenuous and self-serving. It has been clear for awhile now that the H-1B visa program is being systematically abused to bring in cheap labor from other countries to help drive down labor costs for companies across the spectrum. Not just Silicon Valley tech companies. The system has a loophole in it and it is being exploited. Bring people to the US via H-1B visas to complete work for you at lower costs and your company's financials are likely to be better off (assuming the work being done is productive and a value add to the company). Now, this isn't to say that everyone who is in the US via an H-1B visa is here because these companies want to exploit the loophole that gives them the ability to spend less on head count. However, based off the data from the database of the H-1B visa program it is abundantly clear that the system is being taken advantage of. Egregiously and at the expense of American workers, who are most certainly not (all) "subtarded".

Herein lies the crux of the problem; companies are abusing this program to get away from the problem of Americans demanding higher wages to maintain lives of dignity in a country run by a government that is chronically addicted to debt backed by a central bank that will print money ex-nihilo and at will to monetize that debt. Americans are then being scapegoated as either "lazy", "stupid" or "delusional about their worth in the work force". A classic straw man argument that avoids the root issue at hand; the money is broken and the broken money has created perverse incentives throughout the economy while also stripping Americans of the ability to properly save the value of their labor.

We live in a high velocity trash economy that rewards grift and waste while disincentivizing hard work that is meaningful to the quality of life of the Common Man. Everything has been hyper-financialized to the point that one of the only ways to make it ahead is to speculate on the flow of capital into certain asset classes, which is often determined by the whims of central planners. Another is to build or speculate on tech "innovations" that typically materialize in the form of attention zapping apps and widgets that help people temporarily forget they live in a high-velocity trash economy.

The mass of men lead lives of quiet desperation and it is because they don't see a way out of the nihilistic rat race created (unknowingly to most) by the money printer.

The ability to print money out of nothing and throw it at everything creates misaligned incentives that result in the inability for the market to properly determine what is genuinely needed by the people instead of those who have learned how to game the broken system and its broken incentives.

One last point, I would be remiss not to acknowledge that many individuals in America aren't intellectually equipped to do some of the cutting edge work that may be necessary to produce the technologies and companies that will push the country forward. The high-velocity trash economy run on money printed out of nothing has completely corrupted the education system. People in the United States are literally dumber than they were five decades ago. That is a fact. But it is not only the fault of the American people themselves, but the corrupt system they have been born into that destroyed the education system with perverse incentives. And the overwhelming majority of the blame is on the system, not the people.

Even with that being said, the idea that we need to adopt a Tiger Mom mentality in the US - a culture of unrelenting devotion to studying STEM to the point that weekend sleepovers for kids are discouraged - is absolutely laughable and objectively un-American. There are plenty of incredibly intelligent, creative and driven young Americans who have contributed and will continue to contribute significantly to the American economy and they didn't need to shackle themselves to their desks to get that way. America isn't a country that was built by automatons. It's a country built by people who said, "Fuck you. Don't tell me what I can and cannot do. Watch this."

Despite the fact that a system has been erected that actively works against the average American system the American spirit lives on in the souls of many across the country. Miraculously. The American spirit is something that cannot simply be imported. It is ingrained in our culture. It is certainly beginning to dwindle as hope for a better future becomes more and more dim for the masses as the system works against them despite all their best efforts to succeed. It is imperative that we stoke the coals of the American spirit while it is still alive in those who are too stubborn to give up.

People need the ability to save their hard work in a money that cannot be debased. Opportunity cost needs to be reintroduced into the market so that things that actually add value and increase the quality of life for the Common Man are where hard money is allocated. And people need to start talking about the root of the problem more seriously instead of striking at branches with disingenuous straw man arguments.

---

Final thought... Ready to go surfing.

@ 472f440f:5669301e

There was a bit of a rally in stock markets today, but this was a relief rally after taking a beating throughout the week. All eyes were on Federal Reserve Chairman Jerome Powell as he took the stage on Wednesday to announce the decisions made at the most recent FOMC meeting.

The market reacted negatively to another 0.25% cut from the Federal Reserve that many considered a "hawkish cut" due to the fact that Chairman Powell articulated that it is likely that there will be less rate cuts in 2025 than were previously expected. This is likely driven by the fact that inflation, as reported by the terribly inaccurate CPI, has been coming in higher than expectations. Signaling that the Fed does not, in fact, have inflation under control. Who could have seen that coming?

Here's how the US 10Y Treasury yield reacted to the announcement:

"Not great Bob!" The US 10Y Treasury yield is something that everyone should be paying attention to over the course of the next year. Since the Fed started cutting rates in September of this year, the 10Y yield has been acting anomalously compared to how it has acted historically after Fed interest rate decisions. Since September, the market has been calling the Fed's bluff on inflation and rates have been moving in the opposite direction compared to what would be expected if the Fed had things under control. The "hawkish cut" made on Wednesday is not a great sign. The Fed is being forced to recognize that it cut "too much too fast" before actually getting inflation under control.

One has to wonder why they made such aggressive moves in September. Why the need for a much more dovish stance as quickly as they moved? Do they see something behind the scenes of the banking system that makes them believe that another liquidity crisis was on the horizon and they needed to act to prevent yet another banking crisis? Now that it is clear that inflation isn't under control and if there really was a liquidity crisis on the horizon, what are the first two quarters of 2025 going to look like? Could we find ourselves in a situation where inflation is beginning to accelerate again, there is a liquidity crisis, and the Fed is forced to rush back ZIRP and QE only to further exacerbate inflation? Couple this potential scenario with the proposed economic policy from the incoming Trump administration and it isn't hard to see that we could be in for a period of economic pain.

One can only hope that the Fed and the incoming administration have the intestinal fortitude to let the market correct appropriately, reprice, clear out the bad assets and credit that exists in the system and let the cleanse happen relatively unperturbed. That has what has been desperately needed since 2008, arguably longer.

On that note, bitcoin is going through a bull market correction this week as well. Likely incited and/or exacerbated by the turmoil in traditional markets.

Many are proclaiming that the end of this bull market is here. Don't listen to those who have been hate tweeting bitcoin all the way up this year. They've been looking for a correction to bask in schadenfreude and confirm their biases. These types of corrections are to be expected when bitcoin runs by checks notes 100% over the course of less than three months. We're approaching the end of the year, which means that people are selling to prepare for taxes (which may be happening in the stock market as well). Add to this fact that long-term holders of bitcoin have taken the most profit they have since 2018 and it probably explains the recent pull back. Can't blame the long-term holders for seeing six-figure bitcoin and deciding to bolster their cash balances.

I couldn't be more bullish on bitcoin than I am right now. The fundamentals surrounding the market couldn't be more perfect. Despite what the Trump administration may have in store for us in terms of economic policy (I agree with most of the policies he has presented), I find it hard to believe that even he and the talented team of people he has surrounded himself with can overcome the momentum of the problems that have been building up in the system for the last 16-years.

The "find safety in sats" trade is going mainstream as the market becomes more familiar with bitcoin, its properties, and the fact that it is very unlikely that it is going to die. The fervor around bitcoin as a strategic reserve asset for nation states is only picking up. And if it catches on, we will enter territory for bitcoin that was considered utterly insane only a year ago.

On that note, Nic Carter made some buzz today with a piece he wrote for Bitcoin Magazine explaining why he believes a strategic bitcoin reserve is a bad idea for the US government.

https://bitcoinmagazine.com/politics/i-dont-support-a-strategic-bitcoin-reserve-and-neither-should-you

While I agree that the signal the US government could send by acquiring a bitcoin strategic reserve could be bad for the US treasuries market, I think it comes down to strategy. The Trump administration will have to think strategically about how they acquire their Strategic Bitcoin Reserve. If they ape in, it could send the wrong message and cause everyone to dump their treasuries, which are the most popular form of collateral in the global financial system. However, there are ways to acquire bitcoin slowly but surely from here into the future that ensure that the United States gets proper exposure to the asset to protect itself from the out-of-control debt problem while also providing itself with a way out of the problem. Many of these potential strategies were discussed in two recent episodes I recorded. One with Matthew Pines from the Bitcoin Policy Institute and another with Matthew Mežinskis from Porkopolis Economics. I highly recommend you all check those out (linked below).

https://youtu.be/xyyeEqFVjBY

https://youtu.be/6vgesP9LIXk

.---

Final thought...

I am the most locked in from a focus perspective while on flights. Even with two kids under 5. Merry Christmas, Freaks!

@ c631e267:c2b78d3e

Verstand ohne Gefühl ist unmenschlich; \ Gefühl ohne Verstand ist Dummheit. \ Egon Bahr

Seit Jahren werden wir darauf getrimmt, dass Fakten eigentlich gefühlt seien. Aber nicht alles ist relativ und nicht alles ist nach Belieben interpretierbar. Diese Schokoladenhasen beispielsweise, die an Ostern in unseren Gefilden typisch sind, «ostern» zwar nicht, sondern sie sitzen in der Regel, trotzdem verwandelt sie das nicht in «Sitzhasen».

Nichts soll mehr gelten, außer den immer invasiveren Gesetzen. Die eigenen Traditionen und Wurzeln sind potenziell «pfui», um andere Menschen nicht auszuschließen, aber wir mögen uns toleranterweise an die fremden Symbole und Rituale gewöhnen. Dabei ist es mir prinzipiell völlig egal, ob und wann jemand ein Fastenbrechen feiert, am Karsamstag oder jedem anderen Tag oder nie – aber bitte freiwillig.

Und vor allem: Lasst die Finger von den Kindern! In Bern setzten kürzlich Demonstranten ein Zeichen gegen die zunehmende Verbreitung woker Ideologie im Bildungssystem und forderten ein Ende der sexuellen Indoktrination von Schulkindern.

Wenn es nicht wegen des heiklen Themas Migration oder wegen des Regenbogens ist, dann wegen des Klimas. Im Rahmen der «Netto Null»-Agenda zum Kampf gegen das angeblich teuflische CO2 sollen die Menschen ihre Ernährungsgewohnheiten komplett ändern. Nach dem Willen von Produzenten synthetischer Lebensmittel, wie Bill Gates, sollen wir baldmöglichst praktisch auf Fleisch und alle Milchprodukte wie Milch und Käse verzichten. Ein lukratives Geschäftsmodell, das neben der EU aktuell auch von einem britischen Lobby-Konsortium unterstützt wird.

Sollten alle ideologischen Stricke zu reißen drohen, ist da immer noch «der Putin». Die Unions-Europäer offenbaren sich dabei ständig mehr als Vertreter der Rüstungsindustrie. Allen voran zündelt Deutschland an der Kriegslunte, angeführt von einem scheinbar todesmutigen Kanzlerkandidaten Friedrich Merz. Nach dessen erneuter Aussage, «Taurus»-Marschflugkörper an Kiew liefern zu wollen, hat Russland eindeutig klargestellt, dass man dies als direkte Kriegsbeteiligung werten würde – «mit allen sich daraus ergebenden Konsequenzen für Deutschland».

Wohltuend sind Nachrichten über Aktivitäten, die sich der allgemeinen Kriegstreiberei entgegenstellen oder diese öffentlich hinterfragen. Dazu zählt auch ein Kongress kritischer Psychologen und Psychotherapeuten, der letzte Woche in Berlin stattfand. Die vielen Vorträge im Kontext von «Krieg und Frieden» deckten ein breites Themenspektrum ab, darunter Friedensarbeit oder die Notwendigkeit einer «Pädagogik der Kriegsuntüchtigkeit».

Der heutige «stille Freitag», an dem Christen des Leidens und Sterbens von Jesus gedenken, ist vielleicht unabhängig von jeder religiösen oder spirituellen Prägung eine passende Einladung zur Reflexion. In der Ruhe liegt die Kraft. In diesem Sinne wünsche ich Ihnen frohe Ostertage!

[Titelbild: Pixabay]

---

Dieser Beitrag wurde mit dem Pareto-Client geschrieben und ist zuerst auf Transition News erschienen.

@ 1bda7e1f:bb97c4d9

Tldr

• Nostr is a new open social protocol for the internet
• You can use it to create your own online community website/app for your users
• This needs only a few simple components that are free and open source
• Jumble.Social client is a front-end for showing your community content to your users
• Simple With Whitelist relay (SW2) is a back-end with simple auth for your community content
• In this blog I explain the components and set up a online community website/app that any community or company can use for their own users, for free.

You Can Run Your Own Private "X" For Free

Nostr is a new open social protocol for the internet. Because it is a protocol it is not controlled by any one company, does not reside on any one set of servers, does not require any licenses, and no one can stop you from using it however you like.

When the name Nostr is recognised, it is as a "Twitter/X alternative" – that is an online open public forum. Nostr is more than just this. The open nature of the protocol means that you can use it however you feel like, including that you can use it for creating your own social websites to suit whatever goals you have – anything from running your own team collaboration app, to running your own online community.

Nostr can be anything – not just an alternative to X, but also to Slack, Teams, Discord, Telegram (etc) – any kind of social app you'd like to run for your users can be run on Nostr.

In this blog I will show you how to launch your own community website, for your community members to use however they like, with low code, and for free.

Simple useful components

Nostr has a few simple components that work together to provide your experience –

• Your "client" – an app or a website front-end that you log into, which displays the content you want to see
• Your "relay" – a server back-end which receives and stores content, and sends it to clients
• Your "user" – a set of keys which represents a user on the network,
• Your "content" – any user content created and signed by a user, distributed to any relay, which can be picked up and viewed by any client.

It is a pattern that is used by every other social app on the internet, excepting that in those cases you can usually only view content in their app, and only post your content to their server.

Vs with Nostr where you can use any client (app) and any relay (server), including your own.

This is defined as a standard in NIP-01 which is simple enough that you can master it in a weekend, and with which you can build any kind of application.

The design space is wide open for anyone to build anything–

• Clones of Twitter, Instagram, Telegram, Medium, Twitch, etc,
• Whole new things like Private Ephemeral Messengers, Social Podcasting Apps, etc,
• Anything else you can dream up, like replacements for B2B SaaS or ERP systems.

Including that you can set up and run your own "X" for your community.

Super powers for –private– social internet

When considering my use of social internet, it is foremost private not public. Email, Whatsapp, Slack, Teams, Discord, Telegram (etc), are all about me, as a user, creating content for a selected group of individuals – close friends, colleagues, community members – not the wider public.

This private social internet is crying out for the kind of powers that Nostr provides. The list of things that Nostr solves for private social internet goes on-and-on.

Let me eat my own dog food for a moment.

• I am a member of a community of technology entrepreneurs with an app for internal community comms. The interface is not fit for this purpose. Good content gets lost. Any content created within the walled kingdom cannot be shared externally. Community members cannot migrate to a different front-end, or cross-post to public social channels.
• I am a member of many communities for kids social groups, each one with a different application and log in. There is no way to view a consolidated feed. There is no way to send one message to many communities, or share content between them. Remembering to check every feed separately is a drag.
• I am a member of a team with an app for team comms. It costs $XXX per user per month where it should be free. I can't self-host. I can't control or export my data. I can't make it interoperate natively with other SaaS. All of my messages probably go to train a Big Co AI without my consent.

In each instance "Nostr fixes this."

Ready now for low-code admins

To date Nostr has been best suited to a more technical user. To use the Nostr protocol directly has been primarily a field of great engineers building great foundations.

IMO these foundations are built. They are open source, free to use, and accessible for anyone who wants to create an administer their own online community, with only low code required.

To prove it, in this blog I will scratch my own itch. I need a X / Slack / Teams alternative to use with a few team members and friends (and a few AIs) as we hack on establishing a new business idea.

I will set this up with Nostr using only open source code, for free.

Designing the Solution

I am mostly non-technical with helpful AI. To set up your own community website in the style of X / Slack / Teams should be possible for anyone with basic technology skills.

• I have a cheap VPS which currently runs some other unrelated Nostr projects in Docker containers,
• My objective was to set up and run my own community website for my own team use, in Docker, hosted on my own server.

User requirements

What will I want from a community website?

• I want my users to be able to log into a website and post content,
• I want to save that content to a server I control accessed only be people I authorise,
• I want my users to view only that content by default, and not be exposed to any wider public social network unless they knowingly select that,
• I want my user's content to be either:
• a) viewable only by other community members (i.e. for internal team comms), or
• b) by the wider public (i.e. for public announcements), at the user's discretion.
• I want it to be open source so that other people maintain the code for me,
• I want it for free.

Nostr solutions

To achieve this with Nostr, I'll need to select some solutions "a-la carte" for each of the core components of the network.

• A client – For my client, I have chosen Jumble. Jumble is a free open-source client by Cody Tseng, available free on Github or at Jumble.social. I have chosen Jumble because it is a "relay-centric" client. In key spots the user interface highlights for the user what relay they are viewing, and what relay they are posting to. As a result, it is a beautiful fit for me to use as the home of all my community content.
• A relay – For my relay, I have chosen Simple With Whitelist (SW2). SW2 is a free open-source relay by Utxo The Webmaster, based on Khatru by Fiatjaf, available free on Github. I have chosen SW2 because it allows for very simple configuration of user auth. Users can be given read access to view notes, and write access to post notes within simple config.json files. This allows you to keep community content private or selectively share it in a variety of ways. Per the Nostr protocol, your client will connect with your relay via websocket.
• A user sign-up flow – Jumble has a user sign-up flow using Nstart by Fiatjaf, or as an admin I can create and provision my own users with any simple tool like NAK or Nostrtool.
• A user content flow – Jumble has a user content flow that can post notes to selected relays of the users choice. Rich media is uploaded to free third-party hosts like Nostr.build, and in the future there is scope to self-host this too.

With each of these boxes ticked I'm ready to start.

Launching a Private Community Website with Jumble and SW2

Install your SW2 relay

The relay is the trickiest part, so let's start there. SW2 is my Nostr relay software of choice. It is a Go application and includes full instructions for Go install. However, I prefer Docker, so I have built a Docker version and maintain a Docker branch here.

1 – In a terminal clone the repo and checkout the Docker branch

git clone https://github.com/r0d8lsh0p/sw2.git cd sw2 git checkout docker

2 – Set up the environment variables

These are specified in the readme. Duplicate the example .env file and fill it with your variables.

cp .env.example .env

For me this .env file was as follows–

```

Relay Metadata

RELAY_NAME="Tbdai relay" RELAY_PUBKEY="ede41352397758154514148b24112308ced96d121229b0e6a66bc5a2b40c03ec" RELAY_DESCRIPTION="An experimental relay for some people and robots working on a TBD AI project." RELAY_URL="wss://assistantrelay.rodbishop.nz" RELAY_ICON="https://image.nostr.build/44654201843fc0f03e9a72fbf8044143c66f0dd4d5350688db69345f9da05007.jpg" RELAY_CONTACT="https://rodbishop.nz" ```

3 – Specify who can read and write to the relay

This is controlled by two config files read_whitelist.json and write_whitelist.json.

• Any user with their pubkey in the read_whitelist can read notes posted to the relay. If empty, anyone can read.
• Any user with their pubkey in the write_whitelist can post notes to the relay. If empty, anyone can write.

We'll get to creating and authorising more users later, for now I suggest to add yourself to each whitelist, by copying your pubkey into each JSON file. For me this looks as follows (note, I use the 'hex' version of the pubkey, rather than the npub)–

{ "pubkeys": [ "1bda7e1f7396bda2d1ef99033da8fd2dc362810790df9be62f591038bb97c4d9" ] }

If this is your first time using Nostr and you don't yet have any user keys, it is easy and free to get one. You can get one from any Nostr client like Jumble.social, any tool like NAK or nostrtool.com or follow a comprehensive guide like my guide on mining a Nostr key.

4 – Launch your relay

If you are using my Docker fork from above, then–

docker compose up

Your relay should now be running on port 3334 and ready to accept web socket connections from your client.

Before you move on to set up the client, it's helpful to quickly test that it is running as expected.

5 – Test your websocket connection

For this I use a tool called wscat to make a websocket connection.

You may need to install wscat, e.g.

npm install -g wscat

And then run it, e.g.

wscat -c ws://localhost:3334

(note use ws:// for localhost, rather than wss://).

If your relay is working successfully then it should receive your websocket connection request and respond with an AUTH token, asking you to identify yourself as a user in the relay's read_whitelist.json (using the standard outlined in NIP-42), e.g.

``` Connected (press CTRL+C to quit) < ["AUTH","13206fea43ef2952"]

```

You do not need to authorise for now.

If you received this kind of message, your relay is working successfully.

Set a subdomain for your relay

Let's connect a domain name so your community members can access your relay.

1 – Configure DNS

At a high level –

1. Get your domain (buy one if you need to)
2. Get the IP address of your VPS
3. In your domain's DNS settings add those records as an A record to the subdomain of your choice, e.g. relay as in relay.your_domain_name.com, or in my case assistantrelay.rodbishop.nz

Your subdomain now points to your server.

2 – Configure reverse proxy

You need to redirect traffic from your subdomain to your relay at port 3334.

On my VPS I use Caddy as a reverse proxy for a few projects, I have it sitting in a separate Docker network. To use it for my SW2 Relay required two steps.

First – I added configuration to Caddy's Caddyfile to tell it what to do with requests for the relay.your_domain_name.com subdomain. For me this looked like–

assistantrelay.rodbishop.nz { reverse_proxy sw2-relay:3334 { # Enable WebSocket support header_up X-Forwarded-For {remote} header_up X-Forwarded-Proto {scheme} header_up X-Forwarded-Port {server_port} } }

Second – I added the Caddy Docker network to the SW2 docker-compose.yml to make it be part of the Caddy network. In my Docker branch, I provide this commented section which you can uncomment and use if you like.

``` services: relay: ... relay configuration here ...

networks:

- caddy # Connect to a Caddy network for reverse proxy

networks:

caddy:

external: true # Connect to a Caddy network for reverse proxy

```

Your relay is now running at your domain name.

Run Jumble.social

Your client set up is very easy, as most heavy lifting is done by your relay. My client of choice is Jumble because it has features that focus the user experience on the community's content first. You have two options for running Jumble.

1. Run your own local copy of Jumble by cloning the Github (optional)
2. Use the public instance at Jumble.social (easier, and what we'll do in this demo)

If you (optionally) want to run your own local copy of Jumble:

git clone https://github.com/CodyTseng/jumble.git cd jumble npm install npm run dev

For this demo, I will just use the public instance at http://jumble.social

Jumble has a very helpful user interface for set up and configuration. But, I wanted to think ahead to onboarding community members, and so instead I will do some work up front in order to give new members a smooth onboarding flow that I would suggest for an administrator to use in onboarding their community.

1 – Create a custom landing page URL for your community members to land on

When your users come to your website for the first time, you want them to get your community experience without any distraction. That will either be–

1. A prompt to sign up or login (if only authorised users can read content)
2. The actual content from your other community members (If all users can read content)

Your landing page URL will look like: http://jumble.social/?r=wss://relay.your_domain_name.com

• http://jumble.social/ – the URL of the Jumble instance you are using
• ?r= – telling Jumble to read from a relay
• wss:// – relays connect via websocket using wss, rather than https
• relay.your_domain_name.com – the domain name of your relay

For me, this URL looks like http://jumble.social/?r=wss://assistantrelay.rodbishop.nz

2 – Visit your custom Jumble URL

This should load the landing page of your relay on Jumble.

In the background, Jumble has attempted to establish a websocket connection to your relay.

If your relay is configured with read authentication, it has sent a challenge to Jumble asking your user to authenticate. Jumble, accordingly should now be showing you a login screen, asking your user to login.

3 – Login or Sign Up

You will see a variety of sign up and login options. To test, log in with the private key that you have configured to have read and write access.

In the background, Jumble has connected via websocket to your relay, checked that your user is authorised to view notes, and if so, has returned all the content on the relay. (If this is your first time here, there would not be any content yet).

If you give this link to your users to use as their landing page, they will land, login, and see only notes from members of your community.

4– Make your first post to your community

Click the "post" button and post a note. Jumble offers you the option to "Send only to relay.your_domain_name.com".

• If set to on, then Jumble will post the note only to your relay, no others. It will also include a specific tag (the "-" tag) which requests relays to not forward the note across the network. Only your community members viewing notes on your community relay can see it.
• If set to off, then Jumble will post the note to your relay and also the wider public Nostr network. Community members viewing notes on the relay can see it, and so can any user of the wider Nostr network.

5– Optional, configure your relay sets

At the top of the screen you should now see a dropdown with the URL of your relay.

Each user can save this relay to a "relay set" for future use, and also view, add or delete other relays sets including some sets which Jumble comes with set up by default.

As an admin you can use this to give users access to multiple relays. And, as a user, you can use this to access posts from multiple different community relays, all within the one client.

Your community website is up and running

That is the basic set up completed.

• You have a website where your community members can visit a URL to post notes and view all notes from all other members of the community.
• You have basic administration to enforce your own read and write permissions very simply in two json files.

Let's check in with my user requirements as a community admin–

• My community is saving content to a server where I control access
• My users view only that content by default, and are not exposed to any wider public social network unless they knowingly select that
• My user's content is a) viewable only by other community members, or b) by the wider public, at the user's discretion
• Other people are maintaining the code for me
• It's free

This setup has scope to solve my dog fooding issues from earlier–

• If adopted, my tech community can iterate the interface to suit its needs, find great content, and share content beyond the community.
• If adopted, my kids social groups can each have their own relays, but I can post to all of them together, or view a consolidated feed.
• If adopted, my team can chat with each other for free. I can self host this. It can natively interoperate with any other Nostr SaaS. It would be entirely private and will not be captured to train a Big Co AI without my consent.

Using your community website in practice

An example onboarding flow

1. A new member joins your IRL community
2. Your admin person gives them your landing page URL where they can view all the posts by your community members – If you have configured your relay to have no read auth required, then they can land on that landing page and immediately start viewing your community's posts, a great landing experience
3. The user user creates a Nostr profile, and provides the admin person with their public key
4. The admin person adds their key to the whitelists to read and write as you desire.

Default inter-op with the wider Nostr network

• If you change your mind on SW2 and want to use a different relay, your notes will be supported natively, and you can migrate on your own terms
• If you change your mind on Jumble and want to use a different client, your relay will be supported natively, and you can migrate on your own terms
• If you want to add other apps to your community's experience, every Nostr app will interoperate with your community by default – see the huge list at Awesome Nostr
• If any of your users want to view your community notes inside some other Nostr client – perhaps to see a consolidated feed of notes from all their different communities – they can.

For me, I use Amethyst app as my main Nostr client to view the public posts from people I follow. I have added my private community relay to Amethyst, and now my community posts appear alongside all these other posts in a single consolidated feed.

Scope to further improve

• You can run multiple different relays with different user access – e.g. one for wider company and one for your team
• You can run your own fork of Jumble and change the interface to suit you needs – e.g. add your logo, change the colours, link to other resources from the sidebar.

Other ideas for running communities

• Guest accounts: You can give a user "guest" access – read auth, but no write auth – to help people see the value of your community before becoming members.
• Running a knowledge base: You can whitelist users to read notes, but only administrators can post notes.
• Running a blind dropbox: You can whitelist users to post notes, but only the administrator can read notes.
• Running on a local terminal only: With Jumble and SW2 installed on a machine, running at – localhost:5173 for Jumble, and localhost:3334 for SW2 you can have an entirely local experience at http://localhost:5173/?r=ws://localhost:3334.

What's Next?

In my first four blogs I explored creating a good Nostr setup with Vanity Npub, Lightning Payments, Nostr Addresses at Your Domain, and Personal Nostr Relay.

Then in my latest three blogs I explored different types of interoperability with NFC cards, n8n Workflow Automation, and now running a private community website on Nostr.

For this community website–

• There is scope to make some further enhancements to SW2, including to add a "Blossom" media server so that community admins can self-host their own rich media, and to create an admin screen for administration of the whitelists using NIP-86.
• There is scope to explore all other kinds of Nostr clients to form the front-end of community websites, including Chachi.chat, Flotilla, and others.
• Nostr includes a whole variety of different optional standards for making more elaborate online communities including NIP-28, NIP-29, NIP-17, NIP-72 (etc). Each gives certain different capabilities, and I haven't used any of them! For this simple demo they are not required, but each could be used to extend the capabilities of the admin and community.

I am also doing a lot of work with AI on Nostr, including that I use my private community website as a front-end for engaging with a Nostr AI. I'll post about this soon too.

Please be sure to let me know if you think there's another Nostr topic you'd like to see me tackle.

GM Nostr.

@ d34e832d:383f78d0

Introduction

Unlike other cetaceans that rely on whistles and songs, sperm whales primarily use echolocation and patterned click sequences to convey information. This paper explores the structure, function, and implications of their vocal communication, particularly in relation to their social behaviors and cognitive abilities.

1. The Nature of Sperm Whale Vocalizations

Sperm whales produce three primary types of clicks:
- Echolocation clicks for navigation and hunting.
- Regular clicks used in deep diving.
- Codas, which are rhythmic sequences exchanged between individuals, believed to function in social bonding and identification.

Each whale possesses a monumental sound-producing organ, the spermaceti organ, which allows for the production of powerful sounds that can travel long distances. The structure of these clicks suggests a level of vocal learning and adaptation, as different populations exhibit distinct coda repertoires.

2. Cultural and Regional Variation in Codas

Research indicates that different sperm whale clans have unique dialects, much like human languages. These dialects are not genetically inherited but culturally transmitted, meaning whales learn their communication styles from social interactions rather than instinct alone. Studies conducted in the Caribbean and the Pacific have revealed that whales in different regions have distinct coda patterns, with some being universal and others specific to certain clans.

3. Social Organization and Communication

Sperm whales are matrilineal and live in stable social units composed of mothers, calves, and juveniles, while males often lead solitary lives. Communication plays a critical role in maintaining social bonds within these groups.
- Codas serve as an acoustic signature that helps individuals recognize each other.
- More complex codas may function in coordinating group movements or teaching young whales.
- Some researchers hypothesize that codas convey emotional states, much like tone of voice in human speech.

4. Theories on Whale Intelligence and Language-Like Communication

The complexity of sperm whale vocalization raises profound questions about their cognitive abilities.
- Some researchers argue that sperm whale communication exhibits combinatorial properties, meaning that codas might function in ways similar to human phonemes, allowing for an extensive range of meanings.
- Studies using AI and machine learning have attempted to decode potential syntax patterns, but a full understanding of their language remains elusive.

5. Conservation Implications and the Need for Further Research

Understanding sperm whale communication is essential for conservation efforts. Noise pollution from shipping, sonar, and industrial activities can interfere with whale vocalizations, potentially disrupting social structures and navigation. Future research must focus on long-term coda tracking, cross-species comparisons, and experimental approaches to deciphering their meaning.

Consider

Sperm whale vocal communication represents one of the most intriguing areas of marine mammal research. Their ability to transmit learned vocalizations across generations suggests a high degree of cultural complexity. Although we have yet to fully decode their language, the study of sperm whale codas offers critical insights into non-human intelligence, social structures, and the evolution of communication in the animal kingdom.

@ 472f440f:5669301e

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

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

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

"Bitcoin is a Ponzi scheme."

"Tulips."

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

"It can't scale."

"It will be 51% attacked."

"No one will trust bitcoin."

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

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

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

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

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

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

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

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

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

---

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

@ 16f1a010:31b1074b

grain is a nostr relay built using Go, currently utilizing MongoDB as its database. Binaries are provided for AMD64 Windows and Linux. grain is Go Relay Architecture for Implementing Nostr

Introduction

grain is a nostr relay built using Go, currently utilizing MongoDB as its database. Binaries are provided for AMD64 Windows and Linux. grain is Go Relay Architecture for Implementing Nostr

Prerequisites

• Grain requires a running MongoDB instance. Please refer to this separate guide for instructions on setting up MongoDB: nostr:naddr1qvzqqqr4gupzq9h35qgq6n8ll0xyyv8gurjzjrx9sjwp4hry6ejnlks8cqcmzp6tqqxnzde5xg6rwwp5xsuryd3knfdr7g

Download Grain

Download the latest release for your system from the GitHub releases page

amd64 binaries provided for Windows and Linux, if you have a different CPU architecture, you can download and install go to build grain from source

Installation and Execution

• Create a new folder on your system where you want to run Grain.
• The downloaded binary comes bundled with a ZIP file containing a folder named "app," which holds the frontend HTML files. Unzip the "app" folder into the same directory as the Grain executable.

Run Grain

• Open your terminal or command prompt and navigate to the Grain directory.
• Execute the Grain binary.

on linux you will first have to make the program executable

chmod +x grain_linux_amd64

Then you can run the program

./grain_linux_amd64

(alternatively on windows, you can just double click the grain_windows_amd64.exe to start the relay)

You should see a terminal window displaying the port on which your relay and frontend are running.

If you get

Failed to copy app/static/examples/config.example.yml to config.yml: open app/static/examples/config.example.yml: no such file or directory

Then you probably forgot to put the app folder in the same directory as your executable or you did not unzip the folder.

Congrats! You're running grain 🌾!

You may want to change your NIP11 relay information document (relay_metadata.json) This informs clients of the capabilities, administrative contacts, and various server attributes. It's located in the same directory as your executable.

Configuration Files

Once Grain has been executed for the first time, it will generate the default configuration files inside the directory where the executable is located. These files are:

bash config.yml whitelist.yml blacklist.yml

Prerequisites: - Grain requires a running MongoDB instance. Please refer to this separate guide for instructions on setting up MongoDB: [Link to MongoDB setup guide].

Download Grain:

Download the latest release for your system from the GitHub releases page

amd64 binaries provided for Windows and Linux, if you have a different CPU architecture, you can download and install go to build grain from source

Installation and Execution:

• Create a new folder on your system where you want to run Grain.
• The downloaded binary comes bundled with a ZIP file containing a folder named "app," which holds the frontend HTML files. Unzip the "app" folder into the same directory as the Grain executable.

Run Grain:

• Open your terminal or command prompt and navigate to the Grain directory.
• Execute the Grain binary.

on linux you will first have to make the program executable

chmod +x grain_linux_amd64

Then you can run the program

./grain_linux_amd64

(alternatively on windows, you can just double click the grain_windows_amd64.exe to start the relay)

You should see a terminal window displaying the port on which your relay and frontend are running.

If you get

Failed to copy app/static/examples/config.example.yml to config.yml: open app/static/examples/config.example.yml: no such file or directory

Then you probably forgot to put the app folder in the same directory as your executable or you did not unzip the folder.

Congrats! You're running grain 🌾!

You may want to change your NIP11 relay information document (relay_metadata.json) This informs clients of the capabilities, administrative contacts, and various server attributes. It's located in the same directory as your executable.

Configuration Files:

Once Grain has been executed for the first time, it will generate the default configuration files inside the directory where the executable is located. These files are:

bash config.yml whitelist.yml blacklist.yml

Configuration Documentation

You can always find the latest example configs on my site or in the github repo here: config.yml

whitelist.yml

blacklist.yml

Config.yml

This config.yml file is where you customize how your Grain relay operates. Each section controls different aspects of the relay's behavior.

1. mongodb (Database Settings)

• uri: mongodb://localhost:27017/:
  • This is the connection string for your MongoDB database.
  • mongodb://localhost:27017/ indicates that your MongoDB server is running on the same computer as your Grain relay (localhost) and listening on port 27017 (the default MongoDB port).
  • If your MongoDB server is on a different machine, you'll need to change localhost to the server's IP address or hostname.
  • The trailing / indicates the root of the mongodb server. You will define the database in the next line.
• database: grain:
  • This specifies the name of the MongoDB database that Grain will use to store Nostr events. Grain will create this database if it doesn't already exist.
  • You can name the database whatever you want. If you want to run multiple grain relays, you can and they can have different databases running on the same mongo server.

2. server (Relay Server Settings)

• port: :8181:
  • This sets the port on which your Grain relay will listen for incoming nostr websocket connections and what port the frontend will be available at.
• read_timeout: 10 # in seconds:
  • This is the maximum time (in seconds) that the relay will wait for a client to send data before closing the connection.
• write_timeout: 10 # in seconds:
  • This is the maximum time (in seconds) that the relay will wait for a client to receive data before closing the connection.
• idle_timeout: 120 # in seconds:
  • This is the maximum time (in seconds) that the relay will keep a connection open if there's no activity.
• max_connections: 100:
  • This sets the maximum number of simultaneous client connections that the relay will allow.
• max_subscriptions_per_client: 10:
  • This sets the maximum amount of subscriptions a single client can request from the relay.

3. resource_limits (System Resource Limits)

• cpu_cores: 2 # Limit the number of CPU cores the application can use:
  • This restricts the number of CPU cores that Grain can use. Useful for controlling resource usage on your server.
• memory_mb: 1024 # Cap the maximum amount of RAM in MB the application can use:
  • This limits the maximum amount of RAM (in megabytes) that Grain can use.
• heap_size_mb: 512 # Set a limit on the Go garbage collector's heap size in MB:
  • This sets a limit on the amount of memory that the Go programming language's garbage collector can use.

4. auth (Authentication Settings)

• enabled: false # Enable or disable AUTH handling:
  • If set to true, this enables authentication handling, requiring clients to authenticate before using the relay.
• relay_url: "wss://relay.example.com/" # Specify the relay URL:
  • If authentication is enabled, this is the url that clients will use to authenticate.

5. UserSync (User Synchronization)

• user_sync: false:
  • If set to true, the relay will attempt to sync user data from other relays.
• disable_at_startup: true:
  • If user sync is enabled, this will prevent the sync from starting when the relay starts.
• initial_sync_relays: [...]:
  • A list of other relays to pull user data from.
• kinds: []:
  • A list of event kinds to pull from the other relays. Leaving this empty will pull all event kinds.
• limit: 100:
  • The limit of events to pull from the other relays.
• exclude_non_whitelisted: true:
  • If set to true, only users on the whitelist will have their data synced.
• interval: 360:
  • The interval in minutes that the relay will resync user data.

6. backup_relay (Backup Relay)

• enabled: false:
  • If set to true, the relay will send copies of received events to the backup relay.
• url: "wss://some-relay.com":
  • The url of the backup relay.

7. event_purge (Event Purging)

• enabled: false:
  • If set to true, the relay will automatically delete old events.
• keep_interval_hours: 24:
  • The number of hours to keep events before purging them.
• purge_interval_minutes: 240:
  • How often (in minutes) the purging process runs.
• purge_by_category: ...:
  • Allows you to specify which categories of events (regular, replaceable, addressable, deprecated) to purge.
• purge_by_kind_enabled: false:
  • If set to true, events will be purged based on the kinds listed below.
• kinds_to_purge: ...:
  • A list of event kinds to purge.
• exclude_whitelisted: true:
  • If set to true, events from whitelisted users will not be purged.

8. event_time_constraints (Event Time Constraints)

• min_created_at: 1577836800:
  • The minimum created_at timestamp (Unix timestamp) that events must have to be accepted by the relay.
• max_created_at_string: now+5m:
  • The maximum created at time that an event can have. This example shows that the max created at time is 5 minutes in the future from the time the event is received.
  • min_created_at_string and max_created_at work the same way.

9. rate_limit (Rate Limiting)

• ws_limit: 100:
  • The maximum number of WebSocket messages per second that the relay will accept.
• ws_burst: 200:
  • Allows a temporary burst of WebSocket messages.
• event_limit: 50:
  • The maximum number of Nostr events per second that the relay will accept.
• event_burst: 100:
  • Allows a temporary burst of Nostr events.
• req_limit: 50:
  • The limit of http requests per second.
• req_burst: 100:
  • The allowed burst of http requests.
• max_event_size: 51200:
  • The maximum size (in bytes) of a Nostr event that the relay will accept.
• kind_size_limits: ...:
  • Allows you to set size limits for specific event kinds.
• category_limits: ...:
  • Allows you to set rate limits for different event categories (ephemeral, addressable, regular, replaceable).
• kind_limits: ...:
  • Allows you to set rate limits for specific event kinds.

By understanding these settings, you can tailor your Grain Nostr relay to meet your specific needs and resource constraints.

whitelist.yml

The whitelist.yml file is used to control which users, event kinds, and domains are allowed to interact with your Grain relay. Here's a breakdown of the settings:

1. pubkey_whitelist (Public Key Whitelist)

• enabled: false:
  • If set to true, this enables the public key whitelist. Only users whose public keys are listed will be allowed to publish events to your relay.
• pubkeys::
  • A list of hexadecimal public keys that are allowed to publish events.
  • pubkey1 and pubkey2 are placeholders, you will replace these with actual hexadecimal public keys.
• npubs::
  • A list of npubs that are allowed to publish events.
  • npub18ls2km9aklhzw9yzqgjfu0anhz2z83hkeknw7sl22ptu8kfs3rjq54am44 and npub2 are placeholders, replace them with actual npubs.
  • npubs are bech32 encoded public keys.

2. kind_whitelist (Event Kind Whitelist)

• enabled: false:
  • If set to true, this enables the event kind whitelist. Only events with the specified kinds will be allowed.
• kinds::
  • A list of event kinds (as strings) that are allowed.
  • "1" and "2" are example kinds. Replace these with the kinds you want to allow.
  • Example kinds are 0 for metadata, 1 for short text notes, and 2 for recommend server.

3. domain_whitelist (Domain Whitelist)

• enabled: false:
  • If set to true, this enables the domain whitelist. This checks the domains .well-known folder for their nostr.json. This file contains a list of pubkeys. They will be considered whitelisted if on this list.
• domains::
  • A list of domains that are allowed.
  • "example.com" and "anotherdomain.com" are example domains. Replace these with the domains you want to allow.

blacklist.yml

The blacklist.yml file allows you to block specific content, users, and words from your Grain relay. Here's a breakdown of the settings:

1. enabled: true

• This setting enables the blacklist functionality. If set to true, the relay will actively block content and users based on the rules defined in this file.

2. permanent_ban_words:

• This section lists words that, if found in an event, will result in a permanent ban for the event's author.
• - really bad word is a placeholder. Replace it with any words you want to permanently block.

3. temp_ban_words:

• This section lists words that, if found in an event, will result in a temporary ban for the event's author.
• - crypto, - web3, and - airdrop are examples. Replace them with the words you want to temporarily block.

4. max_temp_bans: 3

• This sets the maximum number of temporary bans a user can receive before they are permanently banned.

5. temp_ban_duration: 3600

• This sets the duration of a temporary ban in seconds. 3600 seconds equals one hour.

6. permanent_blacklist_pubkeys:

• This section lists hexadecimal public keys that are permanently blocked from using the relay.
• - db0c9b8acd6101adb9b281c5321f98f6eebb33c5719d230ed1870997538a9765 is an example. Replace it with the public keys you want to block.

7. permanent_blacklist_npubs:

• This section lists npubs that are permanently blocked from using the relay.
• - npub1x0r5gflnk2mn6h3c70nvnywpy2j46gzqwg6k7uw6fxswyz0md9qqnhshtn is an example. Replace it with the npubs you want to block.
• npubs are the human readable version of public keys.

8. mutelist_authors:

• This section lists hexadecimal public keys of author of a kind1000 mutelist. Pubkey authors on this mutelist will be considered on the permanent blacklist. This provides a nostr native way to handle the backlist of your relay
• - 3fe0ab6cbdb7ee27148202249e3fb3b89423c6f6cda6ef43ea5057c3d93088e4 is an example. Replace it with the public keys of authors that have a mutelist you would like to use as a blacklist. Consider using your own.
• Important Note: The mutelist Event MUST be stored in this relay for it to be retrieved. This means your relay must have a copy of the authors kind10000 mutelist to consider them for the blacklist.

Running Grain as a Service:

Windows Service:

To run Grain as a Windows service, you can use tools like NSSM (Non-Sucking Service Manager). NSSM allows you to easily install and manage any application as a Windows service.

* For instructions on how to install NSSM, please refer to this article: [Link to NSSM install guide coming soon].

1. Open Command Prompt as Administrator:

   • Open the Windows Start menu, type "cmd," right-click on "Command Prompt," and select "Run as administrator."

2. Navigate to NSSM Directory:

   • Use the cd command to navigate to the directory where you extracted NSSM. For example, if you extracted it to C:\nssm, you would type cd C:\nssm and press Enter.

3. Install the Grain Service:

   • Run the command nssm install grain.
   • A GUI will appear, allowing you to configure the service.

4. Configure Service Details:

   • In the "Path" field, enter the full path to your Grain executable (e.g., C:\grain\grain_windows_amd64.exe).
   • In the "Startup directory" field, enter the directory where your Grain executable is located (e.g., C:\grain).

5. Install the Service:

   • Click the "Install service" button.

6. Manage the Service:

   • You can now manage the Grain service using the Windows Services manager. Open the Start menu, type "services.msc," and press Enter. You can start, stop, pause, or restart the Grain service from there.

Linux Service (systemd):

To run Grain as a Linux service, you can use systemd, the standard service manager for most modern Linux distributions.

1. Create a Systemd Service File:

   • Open a text editor with root privileges (e.g., sudo nano /etc/systemd/system/grain.service).

2. Add Service Configuration:

   • Add the following content to the grain.service file, replacing the placeholders with your actual paths and user information:

   ```toml [Unit] Description=Grain Nostr Relay After=network.target

   [Service] ExecStart=/path/to/grain_linux_amd64 WorkingDirectory=/path/to/grain/directory Restart=always User=your_user #replace your_user Group=your_group #replace your_group

   [Install] WantedBy=multi-user.target ```

   • Replace /path/to/grain/executable with the full path to your Grain executable.
   • Replace /path/to/grain/directory with the directory containing your Grain executable.
   • Replace your_user and your_group with the username and group that will run the Grain service.

3. Reload Systemd:

   • Run the command sudo systemctl daemon-reload to reload the systemd configuration.

4. Enable the Service:

   • Run the command sudo systemctl enable grain.service to enable the service to start automatically on boot.

5. Start the Service:

   • Run the command sudo systemctl start grain.service to start the service immediately.

6. Check Service Status:

   • Run the command sudo systemctl status grain.service to check the status of the Grain service. This will show you if the service is running and any recent logs.
   • You can run sudo journalctl -f -u grain.service to watch the logs

More guides are in the works for setting up tailscale to access your relay from anywhere over a private network and for setting up a cloudflare tunnel to your domain to deploy a grain relay accessible on a subdomain of your site eg wss://relay.yourdomain.com

@ 472f440f:5669301e

Uber seed investor and executive producer of the All In podcast Jason Calacanis has been publicly sounding the alarm bell about Microstrategy's bitcoin treasury strategy and the cheer leading exhibited by the company's CEO, Michael Saylor. Calacanis believes that Microstrategy's bitcoin acquisition techniques are a Ponzi scheme waiting to implode. Going as far as to question whether or not Microstrategy is the next FTX.

Earlier today, Jason spent a section of an episode of This Week in Startups to discuss his worries about MSTR's bitcoin treasury strategy, Saylor's overt pumping of the strategy, and the fact that there are other companies like Marathon Holdings beginning to deploy similar convertible debt strategies. While I can see how this can be unnerving for many, I do think there is a fundamental misunderstanding of what Microstrategy is doing. Last week I explained the strategy in a tweet, which I'll reiterate here:

Whether you like it or not, Saylor and Microstrategy have found a way to give pools of liquidity (particularly pools with mandates to allocate to fixed income) exposure to bitcoin’s volatility via convertible notes. The converts are performing better than any other fixed income product on the market.

Other investors have noticed this and have piled into MSTR as well understanding that demand for the converts will increase and enable Microstrategy to accumulate more bitcoin. Those investors feel comfortable with the premium to mNAV MSTR is trading at because they believe the demand for a high performing fixed income product will remain high and likely increase.

Microstrategy can continue doing this until viable competition comes to market because there is no one else offering this type of bitcoin return exposure to fixed income investors at scale. Another important detail, the convertible notes have a duration of 5 years or more while bitcoin’s lowest 4-year CAGR is 26% and its 50th percentile 4-year CAGR is 91%. If you think this will continue then this is a pretty safe bet for Microstrategy and the convertible note holders.

In a world were central banks and governments have gone mad with currency debasement and debt expansion it is pretty safe to assume that bitcoin adoption will not only continue but accelerate from here. What do I think about Microstrategy accumulating this much bitcoin? It makes me a bit uneasy but there’s nothing I can do to stop it and bitcoin will survive in the long run. Even if Microstrategy blows up somehow (I don’t think this is likely). Bitcoin was designed to be anti-fragile.

This is a classic case of “don’t hate the player, hate the game”. Or better yet, join the game. After all, the only winning move is to play.

Essentially, Michael Saylor is taking a long-term bet on bitcoin's continued adoption/monetization and trying to accumulate as much as possible by issuing convertible notes with a 4+ year duration, which should increase the likelihood that Microstrategy is in the black on their bitcoin buys over time as history has shown that anyone who holds bitcoin for more than four years has performed well. This should, in turn, be reflected in their stock price, which should increase alongside bitcoin and convert the debt they've accrued into newly issued shares of MSTR. Through the process, if the strategy is executed successfully, increasing the amount of bitcoin per share for MSTR shareholders. (This is the only metric shareholders should care about in my opinion.)

Yes, this may seem crazy to many and extremely risky to most, but that is the nature of free markets. Every company takes calculated risks in an attempt to increase shareholder value. Michael Saylor and company are betting on the fact that bitcoin will continue to be adopted and are utilizing pools of capital that don't have the ability to buy bitcoin directly, but want exposure to its volatility to achieve their goals. To me it looks like a perfectly symbiotic relationship. Microstrategy is able to accumulate more bitcoin and increase their bitcoin per share while fixed income investors are able to access a product that performs well above their benchmark due to the embedded volatility of the exposure to bitcoin Microstrategy provides.

This won't be a surprise to any of you freaks, but I think it's a pretty smart bet to make. Bitcoin is almost 16-years old. It has established itself as a reserve asset for individuals, companies and countries. A reserve asset that is completely detached from the whims of central planners, transparent, predictable, scarce, and can be transmitted over the Internet. Bitcoin is an idea whose time has come. And more people are beginning to recognize this.

This is one of the beautiful aspects of the public company convertible-note-to-bitcoin strategy that Microstrategy has deployed over the last few years. They are able to harness the benefits of forces that are external to their core business to provide shareholders with value. Michael Saylor could stop buying bitcoin tomorrow and it wouldn't affect bitcoin's adoption in the medium to long-term. He continues to buy bitcoin, and encourages others to do the same, because he recognizes this.

Bitcoin is the apex predator of treasury assets for every individual, company, non-profit or government. The assets competing to be treasury assets are all centrally controlled, easily manipulable, and quickly losing favor. Earlier today, Federal Reserve Board Governor Christopher Waller came out and admitted that inflation is kicking the Fed's ass. They cannot tame it.

Waller may posture by saying that "submission is inevitable", but that doesn't make it true. There is simply too much debt and not enough dollars. The annual interest expense on the US Federal debt is now larger than our spending on national defense. The Fed, whether it wants to admit it or not, is going to have to monetize that debt via the debasement of the dollar. If you are using dollars as a treasury asset it is very important that you understand this and react accordingly by adopting a bitcoin strategy. This is what Michael Saylor is trying to make his peers in public markets understand.

Sure, his marketing tactics may seem a bit uncouth to many and the way in which he's expressing his belief through Microstrategy's accumulation strategy may seem risky, but it's hard to argue that his core thesis is flawed. Especially when you consider the fact that bitcoin has officially climbed to the strata of being seriously considered as a treasury asset for the most powerful nation state in the world. I listen to the All In podcast quite frequently and genuinely like the show. It is a good way to gain perspective on how Silicon Valley investors view the world. If I were to give Jason any advice it would be to take a step back and to apply one of the most frequently discussed topics of the last on his show, the emergence of AI and the importance of everyone to incorporate AI into their businesses and workflows as quickly as possible before they get left behind. The same mental model applies to the emergence of bitcoin as a dominant reserve asset.

It is imperative that every individual, company and government adopts a bitcoin treasury strategy if they want to be able to succeed moving forward without the inherent resistance that is introduced from storing the fruit of your labor in a money or money-like asset that does not preserve purchasing power over time. Just because Saylor has recognized this, moved aggressively to effectuate his understanding via his company's balance sheet, and vociferously markets the strategy to others doesn't mean he's wrong. As I said in my tweet last week, I personally prefer to hold actual bitcoin. That doesn't mean that Microstrategy and others haven't honed in on something unique and legitimate given their circumstances and access to certain financial tools.

---

Final thought... I apologize for the extended hiatus. I hit a hard wall of writer's block over the last month. I think the time away from the keyboard has been good for me and the quality of this rag moving forward.

@ 2e8970de:63345c7a

https://x.com/Google/status/1924893837295546851

compare it to Will Smith eating Spaghetti from 2 years ago:

The end of objective truth from video evidence is nearing. In a sense we are retvrning to 1999.

https://stacker.news/items/985441

@ 17538dc2:71ed77c4

Who were they? Testing long form publication via yakihonne

@ ecda4328:1278f072

An honest response to objections — and an answer to the most important question: why does any of this matter?

Last updated: May 21, 2025\ \ 📄 Document version:\ EN: https://drive.proton.me/urls/A4A8Y8A0RR#Sj2OBsBYJFr1\ RU: https://drive.proton.me/urls/GS9AS1NB30#ZdKKb5ackB5e

---

\ Statement: Deflation is not the enemy, but a natural state in an age of technological progress.\ Criticism: in real macroeconomics, long-term deflation is linked to depressions.\ Deflation discourages borrowers and investors, and makes debt heavier.\ Natural ≠ Safe.

1. “Deflation → Depression, Debt → Heavier”

This is true in a debt-based system. Yes, in a fiat economy, debt balloons to the sky, and without inflation it collapses.

But Bitcoin offers not “deflation for its own sake,” but an environment where you don’t need to be in debt to survive. Where savings don’t melt away.\ Jeff Booth said it clearly:

“Technology is inherently deflationary. Fighting deflation with the printing press is fighting progress.”

You don’t have to take on credit to live in this system. Which means — deflation is not an enemy, but an ally.

💡 People often confuse two concepts:

1. That deflation doesn’t work in an economy built on credit and leverage — that’s true.

2. That deflation itself is bad — that’s a myth.

📉 In reality, deflation is the natural state of a free market when technology makes everything cheaper.

Historical example:\ In the U.S., from the Civil War to the early 1900s, the economy experienced gentle deflation — alongside economic growth, employment expansion, and industrial boom.\ Prices fell: for example, a sack of flour cost \~$1.00 in 1865 and \~$0.50 in 1895 — and there was no crisis, because wages held and productivity increased.

Modern example:\ Consumer electronics over the past 20–30 years are a vivid example of technological deflation:\ – What cost $5,000 in 2000 (e.g., a 720p plasma TV) now costs $300 and delivers 10× better quality.\ – Phones, computers, cameras — all became far more powerful and cheaper at the same time.\ That’s how tech-driven deflation works: you get more for less.

📌 Bitcoin doesn’t make the world deflationary. It just doesn’t fight against deflation, unlike the fiat model that fights to preserve its debt pyramid.\ It stops punishing savers and rewards long-term thinkers.

Even economists often confuse organic tech deflation with crisis-driven (debt) deflation.

---

\ \ Statement: We’ve never lived in a truly free market — central banks and issuance always existed.\ Criticism: ideological statement.\ A truly “free” market is utopian.\ Banks and monetary issuance emerged in response to crises.\ A market without arbiters is not always fair, especially under imperfect competition.

2. “The Free Market Is a Utopia”

Yes, “pure markets” are rare. But what we have today isn’t regulation — it’s centralized power in the hands of central banks and cartels.

Bitcoin offers rules without rulers. 21 million. No one can change the issuance. It’s not ideology — it’s code instead of trust. And it has worked for 15 years.

💬 People often say that banks and centralized issuance emerged as a response to crises — as if the market couldn’t manage on its own.\ But if a system needs to be “rescued” again and again through money printing… maybe the problem isn’t freedom, but the system itself?

📌 Crises don’t disprove the value of free markets. They only reveal how fragile a system becomes when the price of money is set not by the market, but by a boardroom vote.\ Bitcoin doesn’t magically eliminate crises — it removes the root cause: the ability to manipulate money in someone’s interest.

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\ \ Statement: Inflation is an invisible tax, especially on the poor and working class.\ Criticism: partly true: inflation can reduce debt burden, boost employment.\ The state indexes social benefits. Under stable inflation, compensators can work. Under deflation, things might be worse (mass layoffs, defaults).

3. “Inflation Can Help”

Theoretically — yes. Textbooks say moderate inflation can reduce debt burdens and stimulate consumption and jobs.\ But in practice — it works as a stealth tax, especially on those without assets. The wealthy escape — into real estate, stocks, funds.\ But the poor and working class lose purchasing power because their money is held in cash — and cash devalues.

💬 As Lyn Alden says:

“When your money can’t hold value, you’re forced to become an investor — even if you just want to save and live.”

The state may index pensions or benefits — but always with a lag, and always less than actual price increases.\ If bread rises 15% and your payment increase is 5%, you got poorer, even if the number on paper went up.

💥 We live in an inflationary system of everything:\ – Inflationary money\ – Inflationary products\ – Inflationary content\ – And now even inflationary minds

🧠 This is more than just rising prices — it’s a degradation of reality perception. You’re always rushing, everything loses meaning.\ But when did the system start working against you?

📉 What went wrong after 1971?

This chart shows that from 1948 to the early 1970s, productivity and wages grew together.\ But after the end of the gold standard in 1971 — the connection broke. Productivity kept rising, but real wages stalled.

👉 This means: you work more, better, faster — but buy less.

🔗 Source: wtfhappenedin1971.com

When you must spend today because tomorrow it’ll be worth less — that’s rewarding impulse and punishing long-term thinking.

Bitcoin offers a different environment:\ – Savings work\ – Long-term thinking is rewarded\ – The price of the future is calculated, not forced by a printing press

📌 Inflation can be a tool. But in government hands, it became a weapon — a slow, inevitable upward redistribution of wealth.

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\ \ Statement: War is not growth, but a reallocation of resources into destruction.

Criticism: war can spur technological leaps (Internet, GPS, nuclear energy — all from military programs). "Military Keynesianism" was a real model.

4. “War Drives R&D”

Yes, wars sometimes give rise to tech spin-offs: Internet, GPS, nuclear power — all originated from military programs.

But that doesn’t make war a source of progress — it makes tech a byproduct of catastrophe.

“War reallocates resources toward destruction — not growth.”

Progress doesn’t happen because of war — it happens despite it.

If scientific breakthroughs require a million dead and burnt cities — maybe you’ve built your economy wrong.

💬 Even Michael Saylor said:

“If you need war to develop technology — you’ve built civilization wrong.”

No innovation justifies diverting human labor, minds, and resources toward destruction.\ War is always the opposite of efficiency — more is wasted than created.

🧠 Bitcoin, on the other hand, is an example of how real R&D happens without violence.\ No taxes. No army. Just math, voluntary participation, and open-source code.

📌 Military Keynesianism is not a model of progress — it’s a symptom of a sick monetary system that needs destruction to reboot.

Bitcoin shows that coordination without violence is possible.\ This is R&D of a new kind: based not on destruction, but digital creation.

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Statement: Bitcoin isn’t “Gold 1.0,” but an improved version: divisible, verifiable, unseizable.

Criticism: Bitcoin has no physical value; "unseizability" is a theory;\ Gold is material and autonomous.

5. “Bitcoin Has No Physical Value”

And gold does? Just because it shines?

Physical form is no guarantee of value.\ Real value lies in: scarcity, reliable transfer, verifiability, and non-confiscatability.

Gold is:\ – Hard to divide\ – Hard to verify\ – Expensive to store\ – Easy to seize

💡 Bitcoin is the first store of value in history that is fully free from physical limitations, and yet:\ – Absolutely scarce (21M, forever)\ – Instantly transferable over the Internet\ – Cryptographically verifiable\ – Controlled by no government

🔑 Bitcoin’s value lies in its liberation from the physical.\ It doesn’t need to be “backed” by gold or oil. It’s backed by energy, mathematics, and ongoing verification.

“Price is what you pay, value is what you get.” — Warren Buffett

When you buy bitcoin, you’re not paying for a “token” — you’re gaining access to a network of distributed financial energy.

⚡️ What are you really getting when you own bitcoin?\ – A key to a digital asset that can’t be faked\ – The ability to send “crystallized energy” anywhere on Earth (it takes 10 minutes on the base L1 layer, or instantly via the Lightning Network)\ – A role in a new accounting system that runs 24/7/365\ – Freedom: from banks, borders, inflation, and force

📉 Bitcoin doesn’t require physical value — because it creates value:\ Through trust, scarcity, and energy invested in mining.\ And unlike gold, it was never associated with slavery.

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Statement: There’s no “income without risk” in Bitcoin: just hold — you preserve; want more — invest, risk, build.

Criticism: contradicts HODL logic; speculation remains dominant behavior.

6. “Speculation Dominates”

For now — yes. That’s normal for the early phase of a new technology. Awareness doesn’t come instantly.

What matters is not the motive of today’s buyer — but what they’re buying.

📉 A speculator may come and go — but the asset remains.\ And this asset is the only one in history that will never exist again. 21 million. Forever.

📌 Look deeper. Bitcoin has:\ – No CEO\ – No central issuer\ – No inflation\ – No “off switch”\ 💡 It was fairly distributed — through mining, long before ASICs existed. In the early years, bitcoin was spent and exchanged — not hoarded. Only those who truly believed in it are still holding it today.

💡 It’s not a stock. Not a startup. Not someone’s project.\ It’s a new foundation for trust.\ It’s opting out of a system where freedom is a privilege you’re granted under conditions.

🧠 People say: “Bitcoin can be copied.”\ Theoretically — yes.\ Practically — never.

Here’s what you’d need to recreate Bitcoin:\ – No pre-mine\ – A founder who disappears and never sells\ – No foundation or corporation\ – Tens of thousands of nodes worldwide\ – 701 million terahashes of hash power\ – Thousands of devs writing open protocols\ – Hundreds of global conferences\ – Millions of people defending digital sovereignty\ – All that without a single marketing budget

That’s all.

🔁 Everything else is an imitation, not a creation.\ Just like you can’t “reinvent fire” — Bitcoin can only exist once.

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Statements:\ **The Russia's '90s weren’t a free market — just anarchic chaos without rights protection.\ **Unlike fiat or even dollars, Bitcoin is the first asset with real defense — from governments, inflation, even thugs.\ *And yes, even if your barber asks about Bitcoin — maybe it's not a bubble, but a sign that inflation has already hit everyone.

Criticism: Bitcoin’s protection isn’t universal — it works only with proper handling and isn’t available to all.\ Some just want to “get rich.”\ None of this matters because:

1. Bitcoin’s volatility (-30% in a week, +50% in a month) makes it unusable for price planning or contracts.

2. It can’t handle mass-scale usage.

3. To become currency, geopolitical will is needed — and without the first two, don’t even talk about the third.\ Also: “Bitcoin is too complicated for the average person.”

7. “It’s Too Complex for the Masses”

It’s complex — if you’re using L1 (Layer 1). But even grandmas use Telegram. In El Salvador, schoolkids buy lunch with Lightning. My barber installed Wallet of Satoshi in minutes right in front of me — and I now pay for my haircut via Lightning.

UX is just a matter of time. And it’s improving. Emerging tools:\ Cashu, Fedimint, Fedi, Wallet of Satoshi, Phoenix, Proton Wallet, Swiss Bitcoin Pay, Bolt Card / CoinCorner (NFC cards for Lightning payments).

This is like the internet in 1995:\ It started with modems — now it’s 4K streaming.

💸 Now try sending a regular bank transfer abroad:\ – you need to type a long IBAN\ – add SWIFT/BIC codes\ – include the recipient’s full physical address (!), compromising their privacy\ – sometimes add extra codes or “purpose of payment”\ – you might get a call from your bank “just to confirm”\ – no way to check the status — the money floats somewhere between correspondent/intermediary banks\ – weekends or holidays? Banks are closed\ – and don’t forget the limits, restrictions, and potential freezes

📌 With Bitcoin, you just scan a QR code and send.\ 10 minutes on-chain = final settlement.\ Via Lightning = instant and nearly free.\ No bureaucracy. No permission. No borders.

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8. “Can’t Handle the Load”

A common myth.\ Yes, Bitcoin L1 processes about 7 transactions per second — intentionally. It’s not built to be Visa. It’s a financial protocol, just like TCP/IP is a network protocol. TCP/IP isn’t “fast” or “slow” — the experience depends on the infrastructure built on top: servers, routers, hardware. In the ’90s, it delivered text. Today, it streams Netflix. The protocol didn’t change — the stack did.

Same with Bitcoin: L1 defines rules, security, finality.\ Scaling and speed? That’s the second layer’s job.

To understand scale:

| Network | TPS (Transactions/sec) | | --- | --- | | Visa | up to 24,000 | | Mastercard | \~5,000 | | PayPal | \~193 | | Litecoin | \~56 | | Ethereum | \~20 | | Bitcoin | \~7 |

\ ⚡️ Enter Lightning Network — Bitcoin’s “fast lane.”\ It allows millions of transactions per second, instantly and nearly free.

And it’s not a sidechain.

❗️ Lightning is not a separate network.\ It uses real Bitcoin transactions (2-of-2 multisig). You can close the channel to L1 at any time. It’s not an alternative — it’s a native extension built into Bitcoin.\ Also evolving: Ark, Fedimint, eCash — new ways to scale and add privacy.

📉 So criticizing Bitcoin for “slowness” is like blaming TCP/IP because your old modem won’t stream YouTube.\ The protocol isn’t the problem — it’s the infrastructure.

🛡️ And by the way: Visa crashes more often than Bitcoin.

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9. “We Need Geopolitical Will”

Not necessarily. All it takes is the will of the people — and leaders willing to act. El Salvador didn’t wait for G20 approval or IMF blessings. Since 2001, the country had used the US dollar as its official currency, abandoning its own colón. But that didn’t save it from inflation or dependency on foreign monetary policy. In 2021, El Salvador became the first country to recognize Bitcoin as legal tender. Since March 13, 2024, they’ve been purchasing 1 BTC daily, tracked through their public address:

🔗 Address\ 📅 First transaction

This policy became the foundation of their Strategic Bitcoin Reserve (SBR) — a state-led effort to accumulate Bitcoin as a national reserve asset for long-term stability and sovereignty.

Their example inspired others.

In March 2025, U.S. President Donald Trump signed an executive order creating the Strategic Bitcoin Reserve of the USA, to be funded through confiscated Bitcoin and digital assets.\ The idea: accumulate, don’t sell, and strategically expand the reserve — without extra burden on taxpayers.

Additionally, Senator Cynthia Lummis (Wyoming) proposed the BITCOIN Act, targeting the purchase of 1 million BTC over five years (\~5% of the total supply).\ The plan: fund it via revaluation of gold certificates and other budget-neutral strategies.

📚 More: Strategic Bitcoin Reserve — Wikipedia

👉 So no global consensus is required. No IMF greenlight.\ All it takes is conviction — and an understanding that the future of finance lies in decentralized, scarce assets like Bitcoin.

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10. “-30% in a week, +50% in a month = not money”

True — Bitcoin is volatile. But that’s normal for new technologies and emerging money. It’s not a bug — it’s a price discovery phase. The world is still learning what this asset is.

📉 Volatility is the price of entry.\ 📈 But the reward is buying the future at a discount.

As Michael Saylor put it:

“A tourist sees Niagara Falls as chaos — roaring, foaming, spraying water.\ An engineer sees immense energy.\ It all depends on your mental model.”

Same with Bitcoin. Speculators see chaos. Investors see structural scarcity. Builders see a new financial foundation.

💡 Now consider gold:

👉 After the gold standard was abandoned in 1971, the price of gold skyrocketed from around \~$300 to over $2,700 (adjusted to 2023 dollars) by 1980. Along the way, it experienced extreme volatility — with crashes of 40–60% even amid the broader uptrend.\ 💡 (\~$300 is the inflation-adjusted equivalent of about $38 in 1971 dollars)\ 📈 Source: Gold Price Chart — Macrotrends\ \ Nobody said, “This can’t be money.” \ Because money is defined not by volatility, but by scarcity, adoption, and trust — which build over time.

📊 The more people save in Bitcoin, the more its volatility fades.

This is a journey — not a fixed state.

We don’t judge the internet by how it worked in 1994.\ So why expect Bitcoin to be the “perfect currency” in 2025?

It grows bottom-up — without regulators’ permission.\ And the longer it survives, the stronger it becomes.

Remember how many times it’s been declared dead.\ And how many times it came back — stronger.

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📊 Gold vs. Bitcoin: Supply Comparison

This chart shows the key difference between the two hard assets:

🔹 Gold — supply keeps growing.\ Mining may be limited, but it’s still inflationary.\ Each year, there’s more — with no known cap: new mines, asteroid mining, recycling.

🔸 Bitcoin — capped at 21 million.\ The emission schedule is public, mathematically predictable, and ends completely around 2140.

🧠 Bottom line:\ Gold is good.\ Bitcoin is better — for predictability and scarcity.

💡 As Saifedean Ammous said:

“Gold was the best monetary good… until Bitcoin.”

### While we argue — fiat erodes every day.

No matter your view on Bitcoin, just show me one other asset that is simultaneously:

– immune to devaluation by decree\ – impossible to print more of\ – impossible to confiscate by a centralized order\ – impossible to counterfeit\ – and, most importantly — transferable across borders without asking permission from a bank, a state, or a passport

💸 Try sending $10,000 through PayPal from Iran to Paraguay, or Bangladesh to Saint Lucia.\ Good luck. PayPal doesn't even work there.

Now open a laptop, type 12 words — and you have access to your savings anywhere on Earth.

🌍 Bitcoin doesn't ask for permission.\ It works for everyone, everywhere, all the time.

📌 There has never been anything like this before.

Bitcoin is the first asset in history that combines:

– digital nature\ – predictable scarcity\ – absolute portability\ – and immunity from tyranny

💡 As Michael Saylor said:

“Bitcoin is the first money in human history not created by bankers or politicians — but by engineers.”

You can own it with no bank.\ No intermediary.\ No passport.\ No approval.

That’s why Bitcoin isn’t just “internet money” or “crypto” or “digital gold.”\ It may not be perfect — but it’s incorruptible.\ And it’s not going away.\ It’s already here.\ It is the foundation of a new financial reality.

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🔒 This is not speculation. This is a peaceful financial revolution.\ 🪙 This is not a stock. It’s money — like the world has never seen.\ ⛓️ This is not a fad. It’s a freedom protocol.

And when even the barber starts asking about Bitcoin — it’s not a bubble.\ It’s a sign that the system is breaking.\ And people are looking for an exit.

For the first time — they have one.

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💼 This is not about investing. It’s about the dignity of work.

Imagine a man who cleans toilets at an airport every day.

Not a “prestigious” job.\ But a crucial one.\ Without him — filth, bacteria, disease.

He shows up on time. He works with his hands.

And his money? It devalues. Every day.

He doesn’t work less — often he works more than those in suits.\ But he can afford less and less — because in this system, honest labor loses value each year.

Now imagine he’s paid in Bitcoin.

Not in some “volatile coin,” but in hard money — with a limited supply.\ Money that can’t be printed, reversed, or devalued by central banks.

💡 Then he could:

– Stop rushing to spend, knowing his labor won’t be worth less tomorrow\ – Save for a dream — without fear of inflation eating it away\ – Feel that his time and effort are respected — because they retain value

Bitcoin gives anyone — engineer or janitor — a way out of the game rigged against them.\ A chance to finally build a future where savings are real.

This is economic justice.\ This is digital dignity.

📉 In fiat, you have to spend — or your money melts.\ 📈 In Bitcoin, you choose when to spend — because it’s up to you.

🧠 In a deflationary economy, both saving and spending are healthy:

You don’t scramble to survive — you choose to create.

🎯 That’s true freedom.

When even someone cleaning floors can live without fear —\ and know that their time doesn’t vanish... it turns into value.

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🧱 The Bigger Picture

Bitcoin is not just a technology — it’s rooted in economic philosophy.\ The Austrian School of Economics has long argued that sound money, voluntary exchange, and decentralized decision-making are prerequisites for real prosperity.\ Bitcoin doesn’t reinvent these ideas — it makes them executable.

📉 Inflation doesn’t just erode savings.\ It quietly destroys quality of life.\ You work more — and everything becomes worse:\ – food is cheaper but less nutritious\ – homes are newer but uglier and less durable\ – clothes cost more but fall apart in months\ – streaming is faster, but your attention span collapses\ This isn’t just consumerism — it’s the economics of planned obsolescence.

🧨 Meanwhile, the U.S. debt has exceeded 3x its GDP.\ And nobody wants to buy U.S. bonds anymore — so the U.S. has to buy its own debt.\ Yes: printing money to buy the IOUs you just printed.\ This is the endgame of fiat.

🎭 Bonds are often sold as “safe.”\ But in practice, they are a weapon — especially abroad.\ The U.S. and IMF give loans to developing countries.\ But when those countries can’t repay (due to rigged terms or global economic headwinds), they’re forced to sell land, resources, or strategic assets.\ Both sides lose: the debtor collapses under the weight of debt, while the creditor earns resentment and instability.\ This isn’t cooperation — it’s soft colonialism enabled by inflation.

📌 Bitcoin offers a peaceful exit.\ A financial system where money can’t be created out of thin air.\ Where savings work.\ Where dignity is restored — even for those who clean toilets.

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Zwei mal drei macht vier, \ widewidewitt und drei macht neune, \ ich mach mir die Welt, \ widewide wie sie mir gefällt. \ Pippi Langstrumpf

Egal, ob Koalitionsverhandlungen oder politischer Alltag: Die Kontroversen zwischen theoretisch verschiedenen Parteien verschwinden, wenn es um den Kampf gegen politische Gegner mit Rückenwind geht. Wer den Alteingesessenen die Pfründe ernsthaft streitig machen könnte, gegen den werden nicht nur «Brandmauern» errichtet, sondern der wird notfalls auch strafrechtlich verfolgt. Doppelstandards sind dabei selbstverständlich inklusive.

In Frankreich ist diese Woche Marine Le Pen wegen der Veruntreuung von EU-Geldern von einem Gericht verurteilt worden. Als Teil der Strafe wurde sie für fünf Jahre vom passiven Wahlrecht ausgeschlossen. Obwohl das Urteil nicht rechtskräftig ist – Le Pen kann in Berufung gehen –, haben die Richter das Verbot, bei Wahlen anzutreten, mit sofortiger Wirkung verhängt. Die Vorsitzende des rechtsnationalen Rassemblement National (RN) galt als aussichtsreiche Kandidatin für die Präsidentschaftswahl 2027.

Das ist in diesem Jahr bereits der zweite gravierende Fall von Wahlbeeinflussung durch die Justiz in einem EU-Staat. In Rumänien hatte Călin Georgescu im November die erste Runde der Präsidentenwahl überraschend gewonnen. Das Ergebnis wurde später annulliert, die behauptete «russische Wahlmanipulation» konnte jedoch nicht bewiesen werden. Die Kandidatur für die Wahlwiederholung im Mai wurde Georgescu kürzlich durch das Verfassungsgericht untersagt.

Die Veruntreuung öffentlicher Gelder muss untersucht und geahndet werden, das steht außer Frage. Diese Anforderung darf nicht selektiv angewendet werden. Hingegen mussten wir in der Vergangenheit bei ungleich schwerwiegenderen Fällen von (mutmaßlichem) Missbrauch ganz andere Vorgehensweisen erleben, etwa im Fall der heutigen EZB-Chefin Christine Lagarde oder im «Pfizergate»-Skandal um die Präsidentin der EU-Kommission Ursula von der Leyen.

Wenngleich derartige Angelegenheiten formal auf einer rechtsstaatlichen Grundlage beruhen mögen, so bleibt ein bitterer Beigeschmack. Es stellt sich die Frage, ob und inwieweit die Justiz politisch instrumentalisiert wird. Dies ist umso interessanter, als die Gewaltenteilung einen essenziellen Teil jeder demokratischen Ordnung darstellt, während die Bekämpfung des politischen Gegners mit juristischen Mitteln gerade bei den am lautesten rufenden Verteidigern «unserer Demokratie» populär zu sein scheint.

Die Delegationen von CDU/CSU und SPD haben bei ihren Verhandlungen über eine Regierungskoalition genau solche Maßnahmen diskutiert. «Im Namen der Wahrheit und der Demokratie» möchte man noch härter gegen «Desinformation» vorgehen und dafür zum Beispiel den Digital Services Act der EU erweitern. Auch soll der Tatbestand der Volksverhetzung verschärft werden – und im Entzug des passiven Wahlrechts münden können. Auf europäischer Ebene würde Friedrich Merz wohl gerne Ungarn das Stimmrecht entziehen.

Der Pegel an Unzufriedenheit und Frustration wächst in großen Teilen der Bevölkerung kontinuierlich. Arroganz, Machtmissbrauch und immer abstrusere Ausreden für offensichtlich willkürliche Maßnahmen werden kaum verhindern, dass den etablierten Parteien die Unterstützung entschwindet. In Deutschland sind die Umfrageergebnisse der AfD ein guter Gradmesser dafür.

[Vorlage Titelbild: Pixabay]

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Dieser Beitrag wurde mit dem Pareto-Client geschrieben und ist zuerst auf Transition News erschienen.

@ 662f9bff:8960f6b2

Issue 11 already - I will be including numbers going forward to make past letters easier to find and refer to. The past two weeks I have been on vacation - my first real vacation is a couple of years. Monday I am back to work for a bit. I have decided to work from here rather than subject myself to more international travel - we are still refugees from the insanity in Hong Kong. We really have been relaxing and enjoying life on the island. Levada hikes and Jeep tours!

220415 Jeep tour - Cabo Girao, Porto Moniz, Fanal and Ponto do Sol - Madeira

We had plenty of time to relax and enjoy life. Madeira is a fantastic place to visit with lots to see and do and even more weather!. I did think that HK was mountainous - but Madeira is next level! Portuguese is also something else; have not yet made much progress but we did not try much and English will generally suffice. As you see in the video above, Madeira is getting serious about attracting Digital Nomads and as you will see below they have forward-thinking local government - exactly as foreseen in my top book pick - The Sovereign Indvidual.

I did get to read quite a lot of interesting books and material - will be sharing insights below and going forward. Happy to discuss too - that offer is still open.

Among other things I got to appreciate more the Apple ecosystem and the seamless integration between Mac, iPhone and iPad - in combination with working with no/limited WiFi and using tethering from my CalyxOS Pixel. Strong privacy is important and Apple scores reasonably well - though you will want to take some additional precautions, I have been enjoying reading my kindle on all platforms and listening to the audio-books with reading-location syncing (fantastic). I am considering sharing tips and tricks on secure setups as well as aspects that I find particularly useful - do talk to me if you have questions or suggestions.

Bitcoin BTC

Given how important Bitcoin already is and will become I think it is right that I should include a section here with relevant news, insights and provocations to discuss. Note that Bitcoin is different from "Crypto"; do not get them mixed up!

• Madeira is not just trying to be friendly to digital nomads - photo above and Ponto do Sol. Last week the President of the Government of Madeira, Miguel Albuquerque attended the Miami conference to announce that his government will “work to create a fantastic environment for bitcoin in Madeira.” This is part of the Game Theory of Bitcoin Adoption by Nation States

• Announcing Taro, Multi-Asset Bitcoin & Lightning** **- this has potential to be something really big. It complements, and may even be better than, Jack Mallers' Strike. Their Blog post is here and the Wiki with the detailed specification is here.

• Michael Saylor is one of today's pre-eminent thinkers and communicators. Listen and learn from his revcent interview with Lex Friedman.

• SLP365 Anita Posch - Bitcoin For Fairness in Zimbabwe and Zambia — A great interview by Stephan Livera. Key takeaways: Learn how to use it before you really need it. if it works in Zimbabwe and Namibia it will work anywhere It’s still early and governments will give no help; rather they will be busy putting sticks in the wheels and sand in the gears…

• For those who look for education on Bitcoin - a starting point can be Anita Posch's The Art of (L)earning Bitcoin with many useful resources linked.

Discovery of the week - Obsidian

For years I have been an avid notetaker. I caught the bug when I did Electronic Engineering at Southampton University and we had to keep a "lab book". Ever since then in my professional work I kept a notebook and took daily notes. Recently this evolved into taking notes on computer. With the arrival of online working and screen-sharing such notes can be very useful and this unleased new value in note-taking.

For personal notes I found great value with Apple Notes - a tool that has improved dramatically in recent years and works perfectly on Mac, iPhone and iPad. However, like many notetakers I often felt that I was "missing a trick". The reality is that searching and retrieval is not as easy as you want it to be and it's hard to reassemble and repurpose your collected information into new output.

In recent years I have considered using several tools but found none of them compelling enough to put in the time to learn and adopt. There is also the fear of "lock in" and endless subscriptions to pay - as anyone who has used Evernote will know!

Big thank you to Rachel for this one. She did get me thinking and encouraged me to give Obsidian another try - I had looked at it last year but it felt overwhelming compared to Apple Notes - I could never have imagined how great it could be!

The absolute best overview of Obsidian and how to use it is FromSergio - his playlist is required watching. Particular highlights:

• Kindle Highlights - this is a superbly useful feature that normally you can only get with a subscription service - do buy the developer a coffee!

• No Lock-in - your files are simple markdown and you have full control

• Works perfectly on Mac and iPhones using iCloud - no annoying sync subscription to pay for

• It's free for personal use - no payment or annoying subscription

• Lots of high quality training material readily available and a great community of people to help you

Reading

• Empires Rise and Fall this extracts and summarises from John Glubb's paper of nearly 100 years ago, The Fate of Empires - I think you call that foresight! I do identify with his frustrations about how history has been taught considering how important it is to learn from past generations.

• The Sovereign Individual is required reading for everyone - I did dip back into it a few times over the last week or so, making Kindle highlights that magically sync into Obsidian - how great is that! If you read nothing else, read chapter 7.

• From Paris to Karachi – Regime Change is In the Air - Tom Luongo is a most interesting character and he does speak his mind. Read and consider. You might prefer to listen to him discussing with Marty.

• Aleks Svetski: The Remnant, The Parasite & The Masses - inspired by the incredible 1930’s essay by Albert J Nock; Isaiah’s Job. Aleks discusses this in his Wake Up podcast - also recommended.

• In my TBR queue (to be read): Atlas Shrugged by Ayn Rand - I must admit, I am in intrigued by Odolena's review in addition to Aleks' recommendation.

• I also think that I need to restart on (and finish) Foundation by Isaac Asimov - after watching Odolena's review of it!

• ...and I need to add Meditations by Marcus Aurelius - again inspired by Odolena's review and I have seen others recommend it too!

Watching and Listening

• Joe Blogs: Who is BUYING Russian Oil Now? Can Europe really change SUPPLIERS & are SANCTIONS Working? - do stop and think - in who's name are the governments implementing all these extreme measures - go back and re-read section "So what can you do about it?" in issue 9

• Rupert Murdochizing The Internet — The Cyberlaw Podcast — whether you agree with him or not Stewart Baker is just the best podcast provocateur!

• AntiWarhol, Culture Creation, & The Pop Art Syndicate — One of The Higherside Chats - perhaps this might open your mind and make you question some things. The rabbit hole goes deep.

• How Britain's Bankers Made Billions From The End Of Empire. At the demise of British Empire, City of London financial interests created a web of offshore secrecy jurisdictions that captured wealth from across the globe and hid it behind obscure financial structures in a web of offshore islands.

• Secret City - A film about the City of London, the Corporation that runs it.

• How things get Re-Priced when a Currency Fails — An important explainer from Joe Brown of The Heresy Financial Podcast — keep an eye out for signs!

• E76: Elon vs. Twitter — the All-In Podcast. I do not agree with all these boyz say but it is interesting to listen to see how the Silicon Valley types think. David Sacks nails it, and Chamath is not far behind! If you were in any doubt as to how corrupt things are this should put you right!

For those who prefer a structured reading list, check References

That's it!

No one can be told what The Matrix is.\ You have to see it for yourself.**

Do share this newsletter with any of your friends and family who might be interested.

You can also email me at: LetterFrom@rogerprice.me

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@ c631e267:c2b78d3e

Spanien bleibt einer der Vorreiter im europäischen Prozess der totalen Überwachung per Digitalisierung. Seit Mittwoch ist dort der digitale Personalausweis verfügbar. Dabei handelt es sich um eine Regierungs-App, die auf dem Smartphone installiert werden muss und in den Stores von Google und Apple zu finden ist. Per Dekret von Regierungschef Pedro Sánchez und Zustimmung des Ministerrats ist diese Maßnahme jetzt in Kraft getreten.

Mit den üblichen Argumenten der Vereinfachung, des Komforts, der Effizienz und der Sicherheit preist das Innenministerium die «Innovation» an. Auch die Beteuerung, dass die digitale Variante parallel zum physischen Ausweis existieren wird und diesen nicht ersetzen soll, fehlt nicht. Während der ersten zwölf Monate wird «der Neue» noch nicht für alle Anwendungsfälle gültig sein, ab 2026 aber schon.

Dass die ganze Sache auch «Risiken und Nebenwirkungen» haben könnte, wird in den Mainstream-Medien eher selten thematisiert. Bestenfalls wird der Aspekt der Datensicherheit angesprochen, allerdings in der Regel direkt mit dem Regierungsvokabular von den «maximalen Sicherheitsgarantien» abgehandelt. Dennoch gibt es einige weitere Aspekte, die Bürger mit etwas Sinn für Privatsphäre bedenken sollten.

Um sich die digitale Version des nationalen Ausweises besorgen zu können (eine App mit dem Namen MiDNI), muss man sich vorab online registrieren. Dabei wird die Identität des Bürgers mit seiner mobilen Telefonnummer verknüpft. Diese obligatorische fixe Verdrahtung kennen wir von diversen anderen Apps und Diensten. Gleichzeitig ist das die Basis für eine perfekte Lokalisierbarkeit der Person.

Für jeden Vorgang der Identifikation in der Praxis wird später «eine Verbindung zu den Servern der Bundespolizei aufgebaut». Die Daten des Individuums werden «in Echtzeit» verifiziert und im Erfolgsfall von der Polizei signiert zurückgegeben. Das Ergebnis ist ein QR-Code mit zeitlich begrenzter Gültigkeit, der an Dritte weitergegeben werden kann.

Bei derartigen Szenarien sträuben sich einem halbwegs kritischen Staatsbürger die Nackenhaare. Allein diese minimale Funktionsbeschreibung lässt die totale Überwachung erkennen, die damit ermöglicht wird. Jede Benutzung des Ausweises wird künftig registriert, hinterlässt also Spuren. Und was ist, wenn die Server der Polizei einmal kein grünes Licht geben? Das wäre spätestens dann ein Problem, wenn der digitale doch irgendwann der einzig gültige Ausweis ist: Dann haben wir den abschaltbaren Bürger.

Dieser neue Vorstoß der Regierung von Pedro Sánchez ist ein weiterer Schritt in Richtung der «totalen Digitalisierung» des Landes, wie diese Politik in manchen Medien – nicht einmal kritisch, sondern sehr naiv – genannt wird. Ebenso verharmlosend wird auch erwähnt, dass sich das spanische Projekt des digitalen Ausweises nahtlos in die Initiativen der EU zu einer digitalen Identität für alle Bürger sowie des digitalen Euro einreiht.

In Zukunft könnte der neue Ausweis «auch in andere staatliche und private digitale Plattformen integriert werden», wie das Medienportal Cope ganz richtig bemerkt. Das ist die Perspektive.

[Titelbild: Pixabay]

Dazu passend:

Nur Abschied vom Alleinfahren? Monströse spanische Überwachungsprojekte gemäß EU-Norm

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Dieser Beitrag wurde mit dem Pareto-Client geschrieben und ist zuerst auf Transition News erschienen.

@ 3fa9f42b:00d5e778

S689 đang ngày càng khẳng định vị thế của mình như một nền tảng kỹ thuật số uy tín và thân thiện với người dùng tại thị trường Việt Nam. Với giao diện hiện đại, tinh gọn và dễ sử dụng, S689 tạo cảm giác thoải mái ngay từ lần đầu truy cập. Tất cả các yếu tố từ thiết kế, bố cục, màu sắc đến cách bố trí các chức năng đều được tối ưu để phục vụ nhu cầu truy cập nhanh chóng và thuận tiện. Người dùng có thể sử dụng S689 trên nhiều thiết bị khác nhau như điện thoại thông minh, máy tính bảng hay laptop mà không gặp khó khăn về tương thích hay tốc độ tải trang. Hệ thống tìm kiếm nhanh, điều hướng mượt mà và khả năng cá nhân hóa nội dung theo sở thích giúp S689 trở thành một lựa chọn lý tưởng cho những ai tìm kiếm sự linh hoạt và hiệu quả trong trải nghiệm số hằng ngày. Không chỉ đơn thuần là một nền tảng trực tuyến, S689 còn là cầu nối mang đến sự tiện nghi, kết nối người dùng với các nội dung chất lượng và phù hợp với nhu cầu cá nhân.

Một trong những điểm mạnh nổi bật của S689 chính là khả năng vận hành ổn định và độ bảo mật cao. Nền tảng được xây dựng trên nền tảng công nghệ tiên tiến, luôn cập nhật các tiêu chuẩn kỹ thuật mới để đảm bảo hiệu suất hoạt động mượt mà và ổn định nhất. Người dùng không phải lo lắng về gián đoạn dịch vụ hay những lỗi kỹ thuật gây ảnh hưởng đến trải nghiệm. Sự an toàn thông tin cá nhân luôn được đặt lên hàng đầu, với các biện pháp bảo mật đa lớp, mã hóa dữ liệu và kiểm soát truy cập chặt chẽ. Chính sách bảo mật minh bạch và hệ thống giám sát tự động giúp người dùng yên tâm khi sử dụng S689 trong thời gian dài. Bên cạnh đó, đội ngũ chăm sóc khách hàng chuyên nghiệp của S689 hoạt động liên tục 24/7 để hỗ trợ người dùng giải quyết mọi vấn đề một cách nhanh chóng, từ các thắc mắc kỹ thuật cho đến hỗ trợ về thông tin tài khoản. Nhờ đó, S689 không chỉ đảm bảo chất lượng dịch vụ mà còn tạo được sự tin tưởng tuyệt đối từ cộng đồng người dùng.

Không dừng lại ở việc xây dựng một nền tảng kỹ thuật số chất lượng, S689 còn chú trọng phát triển một cộng đồng tương tác tích cực và sôi động. Các hoạt động sự kiện, ưu đãi định kỳ và chương trình tặng thưởng cho người dùng thân thiết giúp tạo ra sự gắn bó lâu dài giữa người dùng và nền tảng. Sự tương tác không chỉ đơn thuần mang tính cá nhân mà còn mở rộng ra thành các kết nối cộng đồng, nơi người dùng có thể chia sẻ kinh nghiệm, hỗ trợ nhau và cùng nhau trải nghiệm tiện ích trên nền tảng. Điều này giúp S689 không chỉ là một công cụ sử dụng đơn lẻ, mà còn là một phần của cuộc sống kỹ thuật số hiện đại, nơi mà mỗi người dùng đều cảm nhận được giá trị và sự quan tâm. Với định hướng phát triển bền vững, lấy người dùng làm trung tâm, S689 tiếp tục mở rộng quy mô, cải tiến chất lượng và ứng dụng công nghệ tiên tiến để phục vụ tốt hơn nhu cầu ngày càng đa dạng của người sử dụng. Đây chính là lý do S689 đang ngày càng được yêu thích và tin dùng rộng rãi trên thị trường hiện nay.

@ a849beb6:b327e6d2

\ \ It was another historic week for both bitcoin and the Ten31 portfolio, as the world’s oldest, largest, most battle-tested cryptocurrency climbed to new all-time highs each day to close out the week just shy of the $100,000 mark. Along the way, bitcoin continued to accumulate institutional and regulatory wins, including the much-anticipated approval and launch of spot bitcoin ETF options and the appointment of several additional pro-bitcoin Presidential cabinet officials. The timing for this momentum was poetic, as this week marked the second anniversary of the pico-bottom of the 2022 bear market, a level that bitcoin has now hurdled to the tune of more than 6x despite the litany of bitcoin obituaries published at the time. The entirety of 2024 and especially the past month have further cemented our view that bitcoin is rapidly gaining a sense of legitimacy among institutions, fiduciaries, and governments, and we remain optimistic that this trend is set to accelerate even more into 2025.

Several Ten31 portfolio companies made exciting announcements this week that should serve to further entrench bitcoin’s institutional adoption. AnchorWatch, a first of its kind bitcoin insurance provider offering 1:1 coverage with its innovative use of bitcoin’s native properties, announced it has been designated a Lloyd’s of London Coverholder, giving the company unique, blue-chip status as it begins to write bitcoin insurance policies of up to $100 million per policy starting next month. Meanwhile, Battery Finance Founder and CEO Andrew Hohns appeared on CNBC to delve into the launch of Battery’s pioneering private credit strategy which fuses bitcoin and conventional tangible assets in a dual-collateralized structure that offers a compelling risk/return profile to both lenders and borrowers. Both companies are clearing a path for substantially greater bitcoin adoption in massive, untapped pools of capital, and Ten31 is proud to have served as lead investor for AnchorWatch’s Seed round and as exclusive capital partner for Battery.

As the world’s largest investor focused entirely on bitcoin, Ten31 has deployed nearly $150 million across two funds into more than 30 of the most promising and innovative companies in the ecosystem like AnchorWatch and Battery, and we expect 2025 to be the best year yet for both bitcoin and our portfolio. Ten31 will hold a first close for its third fund at the end of this year, and investors in that close will benefit from attractive incentives and a strong initial portfolio. Visit ten31.vc/funds to learn more and get in touch to discuss participating.\ \ Portfolio Company Spotlight 

Primal is a first of its kind application for the Nostr protocol that combines a client, caching service, analytics tools, and more to address several unmet needs in the nascent Nostr ecosystem. Through the combination of its sleek client application and its caching service (built on a completely open source stack), Primal seeks to offer an end-user experience as smooth and easy as that of legacy social media platforms like Twitter and eventually many other applications, unlocking the vast potential of Nostr for the next billion people. Primal also offers an integrated wallet (powered by Strike BLACK) that substantially reduces onboarding and UX frictions for both Nostr and the lightning network while highlighting bitcoin’s unique power as internet-native, open-source money. 

Selected Portfolio News

AnchorWatch announced it has achieved Llody’s Coverholder status, allowing the company to provide unique 1:1 bitcoin insurance offerings starting in December.\ \ Battery Finance Founder and CEO Andrew Hohns appeared on CNBC to delve into the company’s unique bitcoin-backed private credit strategy.

Primal launched version 2.0, a landmark update that adds a feed marketplace, robust advanced search capabilities, premium-tier offerings, and many more new features.

Debifi launched its new iOS app for Apple users seeking non-custodial bitcoin-collateralized loans.

Media

Strike Founder and CEO Jack Mallers joined Bloomberg TV to discuss the strong volumes the company has seen over the past year and the potential for a US bitcoin strategic reserve. 

Primal Founder and CEO Miljan Braticevic joined The Bitcoin Podcast to discuss the rollout of Primal 2.0 and the future of Nostr. 

Ten31 Managing Partner Marty Bent appeared on BlazeTV to discuss recent changes in the regulatory environment for bitcoin. 

Zaprite published a customer testimonial video highlighting the popularity of its offerings across the bitcoin ecosystem. 

Market Updates

Continuing its recent momentum, bitcoin reached another new all-time high this week, clocking in just below $100,000 on Friday. Bitcoin has now reached a market cap of nearly $2 trillion, putting it within 3% of the market caps of Amazon and Google. 

After receiving SEC and CFTC approval over the past month, long-awaited options on spot bitcoin ETFs were fully approved and launched this week. These options should help further expand bitcoin’s institutional liquidity profile, with potentially significant implications for price action over time.

The new derivatives showed strong performance out of the gate, with volumes on options for BlackRock’s IBIT reaching nearly $2 billion on just the first day of trading despite surprisingly tight position limits for the vehicles. 

Meanwhile, the underlying spot bitcoin ETF complex had yet another banner week, pulling in $3.4 billion in net inflows. 

New reports suggested President-elect Donald Trump’s social media company is in advanced talks to acquire crypto trading platform Bakkt, potentially the latest indication of the incoming administration’s stance toward the broader “crypto” ecosystem. 

On the macro front, US housing starts declined M/M again in October on persistently high mortgage rates and weather impacts. The metric remains well below pre-COVID levels. 

Pockets of the US commercial real estate market remain challenged, as the CEO of large Florida developer Related indicated that developers need further rate cuts “badly” to maintain project viability. 

US Manufacturing PMI increased slightly M/M, but has now been in contraction territory (<50) for well over two years.

The latest iteration of the University of Michigan’s popular consumer sentiment survey ticked up following this month’s election results, though so did five-year inflation expectations, which now sit comfortably north of 3%. 

Regulatory Update

After weeks of speculation, the incoming Trump administration appointed hedge fund manager Scott Bessent to head up the US Treasury. Like many of Trump’s cabinet selections so far, Bessent has been a public advocate for bitcoin. 

Trump also appointed Cantor Fitzgerald CEO Howard Lutnick – another outspoken bitcoin bull – as Secretary of the Commerce Department. 

Meanwhile, the Trump team is reportedly considering creating a new “crypto czar” role to sit within the administration. While it’s unclear at this point what that role would entail, one report indicated that the administration’s broader “crypto council” is expected to move forward with plans for a strategic bitcoin reserve.

Various government lawyers suggested this week that the Trump administration is likely to be less aggressive in seeking adversarial enforcement actions against bitcoin and “crypto” in general, as regulatory bodies appear poised to shift resources and focus elsewhere. 

Other updates from the regulatory apparatus were also directionally positive for bitcoin, most notably FDIC Chairman Martin Gruenberg’s confirmation that he plans to resign from his post at the end of President Biden’s term. 

Many critics have alleged Gruenberg was an architect of “Operation Chokepoint 2.0,” which has created banking headwinds for bitcoin companies over the past several years, so a change of leadership at the department is likely yet another positive for the space.

SEC Chairman Gary Gensler also officially announced he plans to resign at the start of the new administration. Gensler has been the target of much ire from the broader “crypto” space, though we expect many projects outside bitcoin may continue to struggle with questions around the Howey Test.

Overseas, a Chinese court ruled that it is not illegal for individuals to hold cryptocurrency, even though the country is still ostensibly enforcing a ban on crypto transactions. 

Noteworthy

The incoming CEO of Charles Schwab – which administers over $9 trillion in client assets – suggested the platform is preparing to “get into” spot bitcoin offerings and that he “feels silly” for having waited this long. As this attitude becomes more common among traditional finance players, we continue to believe that the number of acquirers coming to market for bitcoin infrastructure capabilities will far outstrip the number of available high quality assets. 

BlackRock’s 2025 Thematic Outlook notes a “renewed sense of optimism” on bitcoin among the asset manager’s client base due to macro tailwinds and the improving regulatory environment. Elsewhere, BlackRock’s head of digital assets indicated the firm does not view bitcoin as a “risk-on” asset. 

MicroStrategy, which was a sub-$1 billion market cap company less than five years ago, briefly breached a $100 billion equity value this week as it continues to aggressively acquire bitcoin. The company now holds nearly 350,000 bitcoin on its balance sheet. 

Notably, Allianz SE, Germany’s largest insurer, spoke for 25% of MicroStrategy’s latest $3 billion convertible note offering this week, suggesting growing appetite for bitcoin proxy exposure among more restricted pools of capital. 

The ongoing meltdown of fintech middleware provider Synapse has left tens of thousands of customers with nearly 100% deposit haircuts as hundreds of millions in funds remain missing, the latest unfortunate case study in the fragility of much of the US’s legacy banking stack. 

Travel

• BitcoinMENA, Dec 9-10

• Nashville BitDevs, Dec 10

• Austin BitDevs, Dec 19

• Nashville Energy and Mining Summit, Jan 30

@ a39d19ec:3d88f61e

Nun da das deutsche Bundesregime den Ruin Deutschlands beschlossen hat, der sehr wahrscheinlich mit dem Werkzeug des Geld druckens "finanziert" wird, kamen mir so viele Gedanken zur Geldmengenausweitung, dass ich diese für einmal niedergeschrieben habe.

Die Ausweitung der Geldmenge führt aus klassischer wirtschaftlicher Sicht immer zu Preissteigerungen, weil mehr Geld im Umlauf auf eine begrenzte Menge an Gütern trifft. Dies lässt sich in mehreren Schritten analysieren:

1. Quantitätstheorie des Geldes

Die klassische Gleichung der Quantitätstheorie des Geldes lautet:

M • V = P • Y

wobei:
- M die Geldmenge ist,
- V die Umlaufgeschwindigkeit des Geldes,
- P das Preisniveau,
- Y die reale Wirtschaftsleistung (BIP).

Wenn M steigt und V sowie Y konstant bleiben, muss P steigen – also Inflation entstehen.

2. Gütermenge bleibt begrenzt

Die Menge an real produzierten Gütern und Dienstleistungen wächst meist nur langsam im Vergleich zur Ausweitung der Geldmenge. Wenn die Geldmenge schneller steigt als die Produktionsgütermenge, führt dies dazu, dass mehr Geld für die gleiche Menge an Waren zur Verfügung steht – die Preise steigen.

3. Erwartungseffekte und Spekulation

Wenn Unternehmen und Haushalte erwarten, dass mehr Geld im Umlauf ist, da eine zentrale Planung es so wollte, können sie steigende Preise antizipieren. Unternehmen erhöhen ihre Preise vorab, und Arbeitnehmer fordern höhere Löhne. Dies kann eine sich selbst verstärkende Spirale auslösen.

4. Internationale Perspektive

Eine erhöhte Geldmenge kann die Währung abwerten, wenn andere Länder ihre Geldpolitik stabil halten. Eine schwächere Währung macht Importe teurer, was wiederum Preissteigerungen antreibt.

5. Kritik an der reinen Geldmengen-Theorie

Der Vollständigkeit halber muss erwähnt werden, dass die meisten modernen Ökonomen im Staatsauftrag argumentieren, dass Inflation nicht nur von der Geldmenge abhängt, sondern auch von der Nachfrage nach Geld (z. B. in einer Wirtschaftskrise). Dennoch zeigt die historische Erfahrung, dass eine unkontrollierte Geldmengenausweitung langfristig immer zu Preissteigerungen führt, wie etwa in der Hyperinflation der Weimarer Republik oder in Simbabwe.

@ fa984bd7:58018f52

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@ f6488c62:c929299d

ปี 2568 ตลาดคริปโตยังคงเต็มไปด้วยความร้อนแรงและโอกาส Bitcoin พุ่งแตะ 106,595.5 ดอลลาร์ (ณ วันที่ 21 พ.ค. 2568) ขณะที่เหรียญมีมอย่าง KPEPE ก็กลายเป็นที่จับตามองของเหล่านักลงทุนรายใหญ่ แต่ท่ามกลางกระแสความร้อนแรง คำถามสำคัญยังคงอยู่: ตลาดคริปโตอยู่ช่วงไหนของวัฏจักร? และโอกาสใหญ่กำลังมาหรือใกล้จบลงแล้ว?

หนึ่งในเสียงที่ดังที่สุดในชุมชนคริปโตตอนนี้คือชื่อที่หลายคนอาจยังไม่รู้จักแน่ชัด – James Wynn เขาโพสต์ข้อความเมื่อวันที่ 31 มีนาคม 2568 ว่า

“The best is yet to come.” หรือ “สิ่งที่ดีที่สุดยังมาไม่ถึง” – คำพูดที่จุดประกายความหวังในชุมชนนักเทรดทั่วโลก

แม้เขาจะถูกยกย่องว่าเป็น “วาฬคริปโต” จากการถือครองมูลค่ามหาศาล แต่ในความเป็นจริง เรายังไม่รู้ว่าเขาคือใคร – ชื่อ James Wynn อาจเป็นเพียงนามแฝง หรือ persona บนโลกออนไลน์ก็เป็นได้

ในบทความนี้ เราจะวิเคราะห์มุมมองของเขาอย่างมีวิจารณญาณ พร้อมแนะแนวทางที่นักเทรดควรเตรียมตัวเพื่อคว้าโอกาสในช่วงขาขึ้นนี้

ภาพรวมตลาดคริปโตในปี 2568 ปีนี้ถือเป็นช่วงขาขึ้นที่เกิดจากหลายปัจจัยสำคัญ:

การอนุมัติ Bitcoin Spot ETFs ในสหรัฐฯ

การเข้ารับตำแหน่งของ Donald Trump พร้อมนโยบายที่เป็นมิตรต่อคริปโต เช่น การผลักดันให้ Bitcoin เป็นสินทรัพย์สำรองของชาติ

ปัจจัยเหล่านี้ได้ดึงดูดทั้งนักลงทุนรายย่อยและสถาบันเข้าสู่ตลาด ส่งผลให้ราคาของ BTC และเหรียญมีมอย่าง KPEPE พุ่งสูงขึ้นอย่างรวดเร็ว สะท้อนถึงโมเมนตัมที่ยังคงแข็งแกร่ง

มุมมองจาก ‘James Wynn’: ปลายวัฏจักร? หรือแค่เริ่มต้น? แม้จะไม่มีใครรู้แน่ชัดว่า James Wynn คือใคร แต่เขากลายเป็นบุคคลที่มีอิทธิพลในชุมชนคริปโตจากการเปิดเผยมุมมองที่เฉียบคมและพอร์ตการลงทุนขนาดใหญ่

เขาโพสต์ไว้ว่า

“ถ้าใครคิดว่าเราอยู่ท้ายวัฏจักรแล้ว คุณคิดผิด”

โดยให้เหตุผลหลัก 3 ข้อ:

การพุ่งขึ้นของราคาส่วนใหญ่เกิดจาก ข่าวดีภายนอก เช่น ETF ยังไม่ใช่ "กระแสล้นตลาด"

นโยบายรัฐบาล Trump ส่งผลเชิงจิตวิทยาเชิงบวกต่อทั้งนักลงทุนและตลาด

ยังไม่เกิด Altcoin Season หรืออารมณ์ตลาดช่วง “Euphoria” ตามแผนภาพ Psychology of a Market Cycle

เขาประเมินว่าตลาดน่าจะอยู่ช่วง “Optimism → Thrill” ซึ่งเป็นช่วงกลางของวัฏจักรที่นักลงทุนเริ่มตื่นเต้น แต่ยังไม่ถึงจุดสูงสุด

เขาเป็นใคร? วาฬตัวจริงหรือบุคคลลึกลับ? แม้ James Wynn จะได้รับความสนใจอย่างมาก แต่ตัวตนของเขายังคลุมเครือ:

ไม่มีข้อมูลยืนยันตัวตนชัดเจน

ไม่รู้ว่าเขาเป็นบุคคล กลุ่ม หรือองค์กร

ใช้นามแฝงออนไลน์ และบัญชีเทรดที่ระบุไว้ไม่ผูกกับตัวตนจริง

ถึงอย่างนั้น พฤติกรรมการลงทุนของเขาก็ไม่ธรรมดา:

Long BTC-USD ด้วยเลเวอเรจ 40x กว่า 5,200 BTC (มูลค่ากว่า 546 ล้านดอลลาร์)

Long KPEPE-USD ด้วยเลเวอเรจ 10x มูลค่ากว่า 32.8 ล้านดอลลาร์

รวมกำไรจากการเทรดกว่า 20.2 ล้านดอลลาร์ (ราว 687 ล้านบาท)

ใช้แพลตฟอร์ม Hyperliquid และแสดงจุดยืนต่อต้าน CEX บางแห่งอย่าง Bybit ที่เขาเคยกล่าวหาว่ามีการ manipulate ตลาด

สิ่งที่น่าสนใจคือ Wynn มักจะลดตำแหน่งและล็อกกำไรอย่างเป็นระบบ เช่น วันที่ 20 พ.ค. 2568 เขาลดตำแหน่ง BTC ลง 1,142 BTC และถอน USDC กลับวอลเล็ตส่วนตัว – สะท้อนถึงการบริหารความเสี่ยงที่รอบคอบ

แนวทางสำหรับนักเทรด: ถ้า "สิ่งที่ดีที่สุด" ยังมาไม่ถึง... หากมุมมองของ Wynn ถูกต้อง และตลาดยังไม่ถึงจุดสูงสุด ต่อไปนี้คือตัวอย่างแนวทางที่นักเทรดควรพิจารณา:

🔹 วางแผนรับ pullback: หากอยู่ในช่วง "Thrill" ตลาดอาจมีการพักตัวชั่วคราว – เป็นโอกาสในการ “ซื้อซ้ำ” ก่อนเข้าสู่จุดพีค

🔹 จับตา altcoin season: การที่เหรียญมีมอย่าง KPEPE พุ่งขึ้น อาจเป็นสัญญาณล่วงหน้าของ Altcoin Season ที่กำลังจะเริ่ม – เตรียมลิสต์เหรียญที่มีศักยภาพ

🔹 เน้นการบริหารความเสี่ยง: ใช้ stop-loss และเลเวอเรจอย่างระมัดระวัง อย่าลืมว่าวัฏจักรคริปโตสามารถเปลี่ยนแปลงอย่างรวดเร็ว

🔹 ติดตามความเคลื่อนไหวของวาฬ (แม้จะไม่รู้ว่าเขาคือใคร): เช่น ที่อยู่กระเป๋า 0x5078C2FbeA2B2aD61bcB40BC0233E5Ce56EDb6 ซึ่งเชื่อว่าเป็นของ Wynn – การเคลื่อนไหวของกระเป๋านี้อาจบ่งชี้แนวโน้มตลาดล่วงหน้า

สรุป แม้เราจะยังไม่รู้แน่ชัดว่า James Wynn คือใคร หรือแม้กระทั่งเขามีอยู่จริงหรือไม่ แต่คำพูดของเขาก็สอดคล้องกับทิศทางตลาดในปัจจุบันที่ยังคงอยู่ในขาขึ้น

“The best is yet to come.” – ถ้าเขาพูดถูก โอกาสที่ดีที่สุดในตลาดคริปโตปี 2568 ก็ยังไม่มาถึง

นักเทรดควร:

ติดตามสัญญาณตลาดอย่างรอบคอบ

จัดพอร์ตให้พร้อมสำหรับการเปลี่ยนแปลง

และที่สำคัญ — อย่าหลงกระแส โดยไม่มีแผนรองรับ

วาฬที่แท้จริงอาจไม่มีชื่อเสียง… และนั่นแหละคือสิ่งที่ทำให้พวกเขาน่าจับตายิ่งกว่าใคร

@ da8b7de1:c0164aee

„Európának a tettek mezejére kell lépnie a nukleáris energia támogatásában” – mondja a brüsszeli iparági csoport új vezetője

A cikk fő témája, hogy az európai nukleáris ipar új vezetője, Emmanuel Brutin (Nucleareurope), nagyobb elkötelezettséget vár el az Európai Bizottságtól a nukleáris energia támogatásában. Bár pozitív jelek mutatkoznak a nukleáris energia iránti nyitottság terén, Brutin szerint a gyakorlatban még mindig jelentős akadályok vannak, például a finanszírozási forrásokhoz való hozzáférésben és a projektengedélyezések lassúságában.

Főbb pontok:

• Politikai nyitottság, de gyakorlati akadályok: Az EU-ban nőtt a nukleáris energia elismerése, például bekerült a fenntartható befektetési taxonómiába és a Net-Zero Industry Act-be. Ugyanakkor a nukleáris energia továbbra is kizárt több fontos finanszírozási eszközből, mint az InvestEU vagy a Just Transition Fund.
• Technológiai semlegesség szükségessége: Brutin hangsúlyozza, hogy az EU-nak nemcsak nem szabad hátráltatnia a nukleáris energiát, hanem aktívan támogatnia is kellene, különösen a Clean Industrial Deal és az Affordable Energy Action Plan keretében.
• Finanszírozás és engedélyezés: A nukleáris ágazat számára kulcsfontosságú a finanszírozáshoz való jobb hozzáférés, mivel a beruházások tőkeigényesek. Brutin szerint gyorsítani kellene a nukleáris projektek engedélyezését, és lazítani az állami támogatási szabályokon.
• Stratégiai jelentőség: Európa teljes nukleáris értéklánccal rendelkezik, ami stratégiai autonómiát jelent, különösen a jelenlegi geopolitikai környezetben.
• Új PINC dokumentum: Nyáron várható a frissített PINC (Illustrative Nuclear Programme), amelynek konkrét lépéseket kell tartalmaznia a nukleáris beruházások támogatására.
• Iparági igények: Az energiaintenzív iparágak (pl. acél, cement) számára nem az energiaforrás típusa számít, hanem a megbízható, olcsó és dekarbonizált villamosenergia-ellátás.
• Tanulás a múlt hibáiból: Brutin elismeri, hogy a nukleáris projektek Európában gyakran szenvedtek késésektől és költségtúllépésektől, de az iparág dolgozik ezek megoldásán.

Forrás:

NucNet:
"Europe Must 'Walk The Talk' On Support For Nuclear Energy, Says New Head Of Brussels Industry Group"
Megjelenés dátuma: 2025. május 20.
Elérhető: NucNet honlapján

@ aa8de34f:a6ffe696

In seinem Beitrag vom 30. März 2025 fragt Henning Rosenbusch auf Telegram angesichts zunehmender digitaler Kontrolle und staatlicher Allmacht:

„Wie soll sich gegen eine solche Tyrannei noch ein Widerstand formieren können, selbst im Untergrund? Sehe ich nicht.“\ (Quelle: t.me/rosenbusch/25228)

Er beschreibt damit ein Gefühl der Ohnmacht, das viele teilen: Eine Welt, in der Totalitarismus nicht mehr mit Panzern, sondern mit Algorithmen kommt. Wo Zugriff auf Geld, Meinungsfreiheit und Teilhabe vom Wohlverhalten abhängt. Der Bürger als kontrollierbare Variable im Code des Staates.\ Die Frage ist berechtigt. Doch die Antwort darauf liegt nicht in alten Widerstandsbildern – sondern in einer neuen Realität.

-- Denn es braucht keinen Untergrund mehr. --

Der Widerstand der Zukunft trägt keinen Tarnanzug. Er ist nicht konspirativ, sondern transparent. Nicht bewaffnet, sondern mathematisch beweisbar. Bitcoin steht nicht am Rand dieser Entwicklung – es ist ihr Fundament. Eine Bastion aus physikalischer Realität, spieltheoretischem Schutz und ökonomischer Wahrheit. Es ist nicht unfehlbar, aber unbestechlich. Nicht perfekt, aber immun gegen zentrale Willkür.

Hier entsteht kein „digitales Gegenreich“, sondern eine dezentrale Renaissance. Keine Revolte aus Wut, sondern eine stille Abkehr: von Zwang zu Freiwilligkeit, von Abhängigkeit zu Selbstverantwortung. Diese Revolution führt keine Kriege. Sie braucht keine Führer. Sie ist ein Netzwerk. Jeder Knoten ein Individuum. Jede Entscheidung ein Akt der Selbstermächtigung.

Weltweit wachsen Freiheits-Zitadellen aus dieser Idee: wirtschaftlich autark, digital souverän, lokal verankert und global vernetzt. Sie sind keine Utopien im luftleeren Raum, sondern konkrete Realitäten – angetrieben von Energie, Code und dem menschlichen Wunsch nach Würde.

Der Globalismus alter Prägung – zentralistisch, monopolistisch, bevormundend – wird an seiner eigenen Hybris zerbrechen. Seine Werkzeuge der Kontrolle werden ihn nicht retten. Im Gegenteil: Seine Geister werden ihn verfolgen und erlegen.

Und während die alten Mächte um Erhalt kämpfen, wächst eine neue Welt – nicht im Schatten, sondern im Offenen. Nicht auf Gewalt gebaut, sondern auf Mathematik, Physik und Freiheit.

Die Tyrannei sieht keinen Widerstand.\ Weil sie nicht erkennt, dass er längst begonnen hat.\ Unwiderruflich. Leise. Überall.

@ 472f440f:5669301e

All eyes are, unsurprisingly, on the US Presidential election. Tomorrow is the big day. I don't want to come off as preachy, however it is pretty clear to me that if you are an American citizen who cares about bitcoin and would like to live under an administration that is eager to embrace the industry as opposed to an administration that is actively hostile toward bitcoin there is only one candidate who deserves your vote; Donald J. Trump. I think he's a better candidate for other reasons, but if you've read this rag for long enough you probably already know what those are. Instead of writing a screed about why I am voting for Trump, let's highlight some things outside of the election that you should be paying attention to this week.

First up, there are two Treasury auctions; $42B of 10-Year notes tomorrow and $25B 30-Year bonds on Wednesday.

It will be interesting to see what the demand for these auctions is and how they affect rates. The long end of the yield curve has been pumping since the Fed's rate cut in the middle of September, which is the market signaling that it does not believe inflation has been appropriately tamed. Yields came down today, but as you can see from the charts things are trending in the wrong direction.

As the Treasury issues new debt at higher rates, the interest expense on that debt, naturally, drifts higher. If the long end of the yield curve doesn't come down aggressively over the course of the next year this is going to be a big problem. There are trillions of dollars worth of Treasury debt that needs the be rolled over in the next few years and it would be advantageous for the Treasury if that debt wasn't being rolled over with yields as high as they are. With the amount of debt the country has accrued in recent decades, every incremental dollar of debt that gets issued and/or rolled over at higher interest rates exacerbates the problem. We are approaching the territory of runaway exponentials, as evidenced by this chart. The growth slope gets steeper and steeper

This debt problem is the elephant in the room that needs to be addressed as quickly as possible. The national debt hit $1.2T in early 1983. It then took 26 years to 10x from $1.2T to $12T in late 2009 and has only taken another 15 years to triple from there to $36T or 30x from the arbitrary base I picked out (Q1 1983).

With this in mind, keep an eye out for these auctions tomorrow and Wednesday, where rates end at the end of trading on Wednesday, and whether or not we officially push over $36T. Regardless of who wins the election tomorrow, this is a problem that needs to be confronted. Whether or not it can be solved at all is up for debate. I don't see how what can be done to reel in this runaway train at this point. However, at the very least, we should acknowledge that we're in the realm of exponentials and have people prepare accordingly by accumulating hard assets that cannot be debased (bitcoin).

The other thing to pay attention to is the FOMC meeting on Wednesday and the announcement of the results of the meeting on Thursday. Will Jerome and the other Fed board members to keep rates where they are, cut, or raise rates? Raising rates seems to be out of the question despite the fact that many believe it would be the most prudent move considering how the long end of the yield curve reacted to the 50bps cut in September. If they decide to cut rates, by how much will they cut them? Will they slow the pace with a 25bps cut or continue at the 50bps clip established in September?

We'll find toward the end of this week. Don't lose sight of these events while the world is enthralled with the elections in the US.

I don't know about you freaks, but I couldn't feel more fortunate that bitcoin exists at a time like this. Having access to a distributed peer-to-peer digital cash system with a fixed supply during a time of incredible political divisiveness and out-of-control runaway sovereign debt feels like a Godsend.

Stay sane out there.

Final thought...

We're going to win.

@ 472f440f:5669301e

Over the last four years bitcoin has, among other things, established itself as an incredible corporate treasury asset that benefits those who adopt it as such. Microstrategy is the shining example of this theme going from a company that was hovering barely above a ~$1B market cap in mid-2020 to a ~$40B market cap company holding more than 1% of the 21,000,000 bitcoin that will ever exist. Microstrategy's success has emboldened a number of other publicly trader companies to follow suit. Bitcoin as a corporate treasury asset is well on its way to becoming a standard. If you run a business that doesn't hold bitcoin on its balance sheet you are doing yourself, your customers and your shareholders a disservice.

This is a trend that has its legs under it and will accelerate moving forward. A trend that I believe will emerge this cycle is incorporating bitcoin into real estate markets. Leon Wankum has been beating the drum about this for the last few years and I had the pleasure of sitting down with him this morning to record an episode of TFTC that will be published tomorrow morning. Leon is a real estate developer in Germany and he has made it his mission to educate and warn others in real estate about the demonetization of real estate that is under way due to the fact that bitcoin exists and it provides a far superior alternative.

These are pretty stark numbers. Nothing highlights the superior monetary properties of bitcoin better than looking at a chart of the average price of a home priced in USD v. bitcoin.

Since 2016: +46% in USD -99% in BTC

Since 2020: +34% in USD -70% in BTC

The funny thing is that an overwhelming majority of the individuals who make their living in real estate markets do not understand that this is happening to them. Many think they are doing exceptionally well all things considered. Sure, there may be a bit of a slow down and price retraction due to a couple of years of relatively elevated interest rates, but don't worry! The Fed is lowering rates again and the good times are about to start back up. Nothing could be further from the truth. This trend is going to continue unabated until bitcoin is fully monetized and those is the real estate industry, particularly real estate developers and those who lend capital to developers, should seriously take the time to understand what is happening to them.

Real estate is the largest store of value asset in the world at the moment. The most common number that is thrown around for the total size of the market is $300 TRILLION. $300 TRILLION of wealth being stored in an asset that is illiquid, comes with maintenance costs, taxes, insurance premiums, and susceptible to extreme weather event, among other things. Compared to bitcoin - which is extremely liquid, saleable, divisible and hard to confiscate, real estate is a far superior asset to store your wealth in. This is something that I'm sure is well understood by many of you reading this letter.

What's less understood is the dynamics of the real estate development market over the last few years, which have been severely hindered by elevated interest rates. The higher interest rate environment coupled with the inflationary pressures that forced rates higher in the first place have put developers in a predicament; they have a higher cost of capital to start new projects with raw material prices that are still much higher than they were before the economic lock downs of 2020-2022. This has led to a scenario where it isn't advantageous to start new projects and the projects that broke ground in 2021-2023 are finding that they need to incur more debt to get their developments across the finish line.

Despite the fact that interest rates are on their way back down, it doesn't seem like the economics of these projects are going to materially improve in the short to medium-term as headline inflation begins to creep back up. Couple this with the fact that the jobs market is cratering while real wages struggle to keep up with inflation and many builders are going to find themselves in a situation where they do actually complete a development problem but their cash flow suffers because their customers can't afford the inflated rents that builders will have to charge to get a return on their outlaid capital. Many will be put in a situation where they are forced to be happy with lower rents (cash flow) or sit on the sidelines making no cash flow.

The post-1971 era that brought with it a booming real estate industry is suffering the same fate as the bond market; the generation bull market is over. Real estate prices may go up, but that will be nothing more than a mirage of wealth creation. The unit of account those prices are built on is in dollars, which are being debased at an accelerating rate. Developers, banks and borrowers need to de-risk their real estate exposure and, as Leon points out, bitcoin is the only way to do this in an effective way.

Moving forward developers will have to finance by dual collateralizing their debt with the real estate and bitcoin. In the graphic below Leon illustrates what this type of financing structure will look like. Instead of taking $10m of debt to finance a project and putting it all into materials, construction and marketing, a developer will take out a $10m loan, put $1m in bitcoin and the rest toward the development project. Over the course of the construction of the real estate project, bitcoin will sit in the credit structure and, if held for 4+ years, should increase significantly in value. Saving the builder from risk of default and providing him some optionality in terms of what he can do with the project once it's finished.

In this scenario downside risk is contained - a developer isn't pouring all of the cash into bitcoin at the beginning so the worst case scenario is that bitcoin goes to zero (highly unlikely) and they can eat the small loss and hope to make up with it via cash flows once a project is finished, while upside potential is enormous. Bitcoin is still monetizing and having exposure to the hardest monetary asset the world has ever while it's monetizing has proven to be massively beneficial.

We are still in the early days of bitcoin and this idea will likely seem absolutely insane to most Tradfi investors, but I strongly believe that developers, banks and end consumers who don't leverage this type of bitcoin structured credit will be cooked in the long-run. And those that take advantage of this type of structure first will be considered geniuses in 20 years.

There are many more nuanced benefits to this strategy; holding bitcoin allows landlords and management companies to weather ongoing maintenance costs throughout the years, those who take out mortgages dual collateralized with a house and bitcoin not only protect the equity value of their property but could see their equity values increase significantly more than others using vanilla mortgages, and builders who accumulate bitcoin in their treasuries will be able to use better raw materials when building, which leads to more valuable properties that cash flow for longer.

Again, it's going to take time for these types of structures to become commonplace in the market, but I firmly believe this cycle will be the cycle that these strategies get off the ground. In four to five years they will have a track record and after that it will be considered irresponsible not to finance real estate in this way. The banks will begin to demand it.

---

Final thought... Sinus congestion sucks.

@ 21335073:a244b1ad

Warning: This piece contains a conversation about difficult topics. Please proceed with caution.

TL;DR please educate your children about online safety.

Julian Assange wrote in his 2012 book Cypherpunks, “This book is not a manifesto. There isn’t time for that. This book is a warning.” I read it a few times over the past summer. Those opening lines definitely stood out to me. I wish we had listened back then. He saw something about the internet that few had the ability to see. There are some individuals who are so close to a topic that when they speak, it’s difficult for others who aren’t steeped in it to visualize what they’re talking about. I didn’t read the book until more recently. If I had read it when it came out, it probably would have sounded like an unknown foreign language to me. Today it makes more sense.

This isn’t a manifesto. This isn’t a book. There is no time for that. It’s a warning and a possible solution from a desperate and determined survivor advocate who has been pulling and unraveling a thread for a few years. At times, I feel too close to this topic to make any sense trying to convey my pathway to my conclusions or thoughts to the general public. My hope is that if nothing else, I can convey my sense of urgency while writing this. This piece is a watchman’s warning.

When a child steps online, they are walking into a new world. A new reality. When you hand a child the internet, you are handing them possibilities—good, bad, and ugly. This is a conversation about lowering the potential of negative outcomes of stepping into that new world and how I came to these conclusions. I constantly compare the internet to the road. You wouldn’t let a young child run out into the road with no guidance or safety precautions. When you hand a child the internet without any type of guidance or safety measures, you are allowing them to play in rush hour, oncoming traffic. “Look left, look right for cars before crossing.” We almost all have been taught that as children. What are we taught as humans about safety before stepping into a completely different reality like the internet? Very little.

I could never really figure out why many folks in tech, privacy rights activists, and hackers seemed so cold to me while talking about online child sexual exploitation. I always figured that as a survivor advocate for those affected by these crimes, that specific, skilled group of individuals would be very welcoming and easy to talk to about such serious topics. I actually had one hacker laugh in my face when I brought it up while I was looking for answers. I thought maybe this individual thought I was accusing them of something I wasn’t, so I felt bad for asking. I was constantly extremely disappointed and would ask myself, “Why don’t they care? What could I say to make them care more? What could I say to make them understand the crisis and the level of suffering that happens as a result of the problem?”

I have been serving minor survivors of online child sexual exploitation for years. My first case serving a survivor of this specific crime was in 2018—a 13-year-old girl sexually exploited by a serial predator on Snapchat. That was my first glimpse into this side of the internet. I won a national award for serving the minor survivors of Twitter in 2023, but I had been working on that specific project for a few years. I was nominated by a lawyer representing two survivors in a legal battle against the platform. I’ve never really spoken about this before, but at the time it was a choice for me between fighting Snapchat or Twitter. I chose Twitter—or rather, Twitter chose me. I heard about the story of John Doe #1 and John Doe #2, and I was so unbelievably broken over it that I went to war for multiple years. I was and still am royally pissed about that case. As far as I was concerned, the John Doe #1 case proved that whatever was going on with corporate tech social media was so out of control that I didn’t have time to wait, so I got to work. It was reading the messages that John Doe #1 sent to Twitter begging them to remove his sexual exploitation that broke me. He was a child begging adults to do something. A passion for justice and protecting kids makes you do wild things. I was desperate to find answers about what happened and searched for solutions. In the end, the platform Twitter was purchased. During the acquisition, I just asked Mr. Musk nicely to prioritize the issue of detection and removal of child sexual exploitation without violating digital privacy rights or eroding end-to-end encryption. Elon thanked me multiple times during the acquisition, made some changes, and I was thanked by others on the survivors’ side as well.

I still feel that even with the progress made, I really just scratched the surface with Twitter, now X. I left that passion project when I did for a few reasons. I wanted to give new leadership time to tackle the issue. Elon Musk made big promises that I knew would take a while to fulfill, but mostly I had been watching global legislation transpire around the issue, and frankly, the governments are willing to go much further with X and the rest of corporate tech than I ever would. My work begging Twitter to make changes with easier reporting of content, detection, and removal of child sexual exploitation material—without violating privacy rights or eroding end-to-end encryption—and advocating for the minor survivors of the platform went as far as my principles would have allowed. I’m grateful for that experience. I was still left with a nagging question: “How did things get so bad with Twitter where the John Doe #1 and John Doe #2 case was able to happen in the first place?” I decided to keep looking for answers. I decided to keep pulling the thread.

I never worked for Twitter. This is often confusing for folks. I will say that despite being disappointed in the platform’s leadership at times, I loved Twitter. I saw and still see its value. I definitely love the survivors of the platform, but I also loved the platform. I was a champion of the platform’s ability to give folks from virtually around the globe an opportunity to speak and be heard.

I want to be clear that John Doe #1 really is my why. He is the inspiration. I am writing this because of him. He represents so many globally, and I’m still inspired by his bravery. One child’s voice begging adults to do something—I’m an adult, I heard him. I’d go to war a thousand more lifetimes for that young man, and I don’t even know his name. Fighting has been personally dark at times; I’m not even going to try to sugarcoat it, but it has been worth it.

The data surrounding the very real crime of online child sexual exploitation is available to the public online at any time for anyone to see. I’d encourage you to go look at the data for yourself. I believe in encouraging folks to check multiple sources so that you understand the full picture. If you are uncomfortable just searching around the internet for information about this topic, use the terms “CSAM,” “CSEM,” “SG-CSEM,” or “AI Generated CSAM.” The numbers don’t lie—it’s a nightmare that’s out of control. It’s a big business. The demand is high, and unfortunately, business is booming. Organizations collect the data, tech companies often post their data, governments report frequently, and the corporate press has covered a decent portion of the conversation, so I’m sure you can find a source that you trust.

Technology is changing rapidly, which is great for innovation as a whole but horrible for the crime of online child sexual exploitation. Those wishing to exploit the vulnerable seem to be adapting to each technological change with ease. The governments are so far behind with tackling these issues that as I’m typing this, it’s borderline irrelevant to even include them while speaking about the crime or potential solutions. Technology is changing too rapidly, and their old, broken systems can’t even dare to keep up. Think of it like the governments’ “War on Drugs.” Drugs won. In this case as well, the governments are not winning. The governments are talking about maybe having a meeting on potentially maybe having legislation around the crimes. The time to have that meeting would have been many years ago. I’m not advocating for governments to legislate our way out of this. I’m on the side of educating and innovating our way out of this.

I have been clear while advocating for the minor survivors of corporate tech platforms that I would not advocate for any solution to the crime that would violate digital privacy rights or erode end-to-end encryption. That has been a personal moral position that I was unwilling to budge on. This is an extremely unpopular and borderline nonexistent position in the anti-human trafficking movement and online child protection space. I’m often fearful that I’m wrong about this. I have always thought that a better pathway forward would have been to incentivize innovation for detection and removal of content. I had no previous exposure to privacy rights activists or Cypherpunks—actually, I came to that conclusion by listening to the voices of MENA region political dissidents and human rights activists. After developing relationships with human rights activists from around the globe, I realized how important privacy rights and encryption are for those who need it most globally. I was simply unwilling to give more power, control, and opportunities for mass surveillance to big abusers like governments wishing to enslave entire nations and untrustworthy corporate tech companies to potentially end some portion of abuses online. On top of all of it, it has been clear to me for years that all potential solutions outside of violating digital privacy rights to detect and remove child sexual exploitation online have not yet been explored aggressively. I’ve been disappointed that there hasn’t been more of a conversation around preventing the crime from happening in the first place.

What has been tried is mass surveillance. In China, they are currently under mass surveillance both online and offline, and their behaviors are attached to a social credit score. Unfortunately, even on state-run and controlled social media platforms, they still have child sexual exploitation and abuse imagery pop up along with other crimes and human rights violations. They also have a thriving black market online due to the oppression from the state. In other words, even an entire loss of freedom and privacy cannot end the sexual exploitation of children online. It’s been tried. There is no reason to repeat this method.

It took me an embarrassingly long time to figure out why I always felt a slight coldness from those in tech and privacy-minded individuals about the topic of child sexual exploitation online. I didn’t have any clue about the “Four Horsemen of the Infocalypse.” This is a term coined by Timothy C. May in 1988. I would have been a child myself when he first said it. I actually laughed at myself when I heard the phrase for the first time. I finally got it. The Cypherpunks weren’t wrong about that topic. They were so spot on that it is borderline uncomfortable. I was mad at first that they knew that early during the birth of the internet that this issue would arise and didn’t address it. Then I got over it because I realized that it wasn’t their job. Their job was—is—to write code. Their job wasn’t to be involved and loving parents or survivor advocates. Their job wasn’t to educate children on internet safety or raise awareness; their job was to write code.

They knew that child sexual abuse material would be shared on the internet. They said what would happen—not in a gleeful way, but a prediction. Then it happened.

I equate it now to a concrete company laying down a road. As you’re pouring the concrete, you can say to yourself, “A terrorist might travel down this road to go kill many, and on the flip side, a beautiful child can be born in an ambulance on this road.” Who or what travels down the road is not their responsibility—they are just supposed to lay the concrete. I’d never go to a concrete pourer and ask them to solve terrorism that travels down roads. Under the current system, law enforcement should stop terrorists before they even make it to the road. The solution to this specific problem is not to treat everyone on the road like a terrorist or to not build the road.

So I understand the perceived coldness from those in tech. Not only was it not their job, but bringing up the topic was seen as the equivalent of asking a free person if they wanted to discuss one of the four topics—child abusers, terrorists, drug dealers, intellectual property pirates, etc.—that would usher in digital authoritarianism for all who are online globally.

Privacy rights advocates and groups have put up a good fight. They stood by their principles. Unfortunately, when it comes to corporate tech, I believe that the issue of privacy is almost a complete lost cause at this point. It’s still worth pushing back, but ultimately, it is a losing battle—a ticking time bomb.

I do think that corporate tech providers could have slowed down the inevitable loss of privacy at the hands of the state by prioritizing the detection and removal of CSAM when they all started online. I believe it would have bought some time, fewer would have been traumatized by that specific crime, and I do believe that it could have slowed down the demand for content. If I think too much about that, I’ll go insane, so I try to push the “if maybes” aside, but never knowing if it could have been handled differently will forever haunt me. At night when it’s quiet, I wonder what I would have done differently if given the opportunity. I’ll probably never know how much corporate tech knew and ignored in the hopes that it would go away while the problem continued to get worse. They had different priorities. The most voiceless and vulnerable exploited on corporate tech never had much of a voice, so corporate tech providers didn’t receive very much pushback.

Now I’m about to say something really wild, and you can call me whatever you want to call me, but I’m going to say what I believe to be true. I believe that the governments are either so incompetent that they allowed the proliferation of CSAM online, or they knowingly allowed the problem to fester long enough to have an excuse to violate privacy rights and erode end-to-end encryption. The US government could have seized the corporate tech providers over CSAM, but I believe that they were so useful as a propaganda arm for the regimes that they allowed them to continue virtually unscathed.

That season is done now, and the governments are making the issue a priority. It will come at a high cost. Privacy on corporate tech providers is virtually done as I’m typing this. It feels like a death rattle. I’m not particularly sure that we had much digital privacy to begin with, but the illusion of a veil of privacy feels gone.

To make matters slightly more complex, it would be hard to convince me that once AI really gets going, digital privacy will exist at all.

I believe that there should be a conversation shift to preserving freedoms and human rights in a post-privacy society.

I don’t want to get locked up because AI predicted a nasty post online from me about the government. I’m not a doomer about AI—I’m just going to roll with it personally. I’m looking forward to the positive changes that will be brought forth by AI. I see it as inevitable. A bit of privacy was helpful while it lasted. Please keep fighting to preserve what is left of privacy either way because I could be wrong about all of this.

On the topic of AI, the addition of AI to the horrific crime of child sexual abuse material and child sexual exploitation in multiple ways so far has been devastating. It’s currently out of control. The genie is out of the bottle. I am hopeful that innovation will get us humans out of this, but I’m not sure how or how long it will take. We must be extremely cautious around AI legislation. It should not be illegal to innovate even if some bad comes with the good. I don’t trust that the governments are equipped to decide the best pathway forward for AI. Source: the entire history of the government.

I have been personally negatively impacted by AI-generated content. Every few days, I get another alert that I’m featured again in what’s called “deep fake pornography” without my consent. I’m not happy about it, but what pains me the most is the thought that for a period of time down the road, many globally will experience what myself and others are experiencing now by being digitally sexually abused in this way. If you have ever had your picture taken and posted online, you are also at risk of being exploited in this way. Your child’s image can be used as well, unfortunately, and this is just the beginning of this particular nightmare. It will move to more realistic interpretations of sexual behaviors as technology improves. I have no brave words of wisdom about how to deal with that emotionally. I do have hope that innovation will save the day around this specific issue. I’m nervous that everyone online will have to ID verify due to this issue. I see that as one possible outcome that could help to prevent one problem but inadvertently cause more problems, especially for those living under authoritarian regimes or anyone who needs to remain anonymous online. A zero-knowledge proof (ZKP) would probably be the best solution to these issues. There are some survivors of violence and/or sexual trauma who need to remain anonymous online for various reasons. There are survivor stories available online of those who have been abused in this way. I’d encourage you seek out and listen to their stories.

There have been periods of time recently where I hesitate to say anything at all because more than likely AI will cover most of my concerns about education, awareness, prevention, detection, and removal of child sexual exploitation online, etc.

Unfortunately, some of the most pressing issues we’ve seen online over the last few years come in the form of “sextortion.” Self-generated child sexual exploitation (SG-CSEM) numbers are continuing to be terrifying. I’d strongly encourage that you look into sextortion data. AI + sextortion is also a huge concern. The perpetrators are using the non-sexually explicit images of children and putting their likeness on AI-generated child sexual exploitation content and extorting money, more imagery, or both from minors online. It’s like a million nightmares wrapped into one. The wild part is that these issues will only get more pervasive because technology is harnessed to perpetuate horror at a scale unimaginable to a human mind.

Even if you banned phones and the internet or tried to prevent children from accessing the internet, it wouldn’t solve it. Child sexual exploitation will still be with us until as a society we start to prevent the crime before it happens. That is the only human way out right now.

There is no reset button on the internet, but if I could go back, I’d tell survivor advocates to heed the warnings of the early internet builders and to start education and awareness campaigns designed to prevent as much online child sexual exploitation as possible. The internet and technology moved quickly, and I don’t believe that society ever really caught up. We live in a world where a child can be groomed by a predator in their own home while sitting on a couch next to their parents watching TV. We weren’t ready as a species to tackle the fast-paced algorithms and dangers online. It happened too quickly for parents to catch up. How can you parent for the ever-changing digital world unless you are constantly aware of the dangers?

I don’t think that the internet is inherently bad. I believe that it can be a powerful tool for freedom and resistance. I’ve spoken a lot about the bad online, but there is beauty as well. We often discuss how victims and survivors are abused online; we rarely discuss the fact that countless survivors around the globe have been able to share their experiences, strength, hope, as well as provide resources to the vulnerable. I do question if giving any government or tech company access to censorship, surveillance, etc., online in the name of serving survivors might not actually impact a portion of survivors negatively. There are a fair amount of survivors with powerful abusers protected by governments and the corporate press. If a survivor cannot speak to the press about their abuse, the only place they can go is online, directly or indirectly through an independent journalist who also risks being censored. This scenario isn’t hard to imagine—it already happened in China. During #MeToo, a survivor in China wanted to post their story. The government censored the post, so the survivor put their story on the blockchain. I’m excited that the survivor was creative and brave, but it’s terrifying to think that we live in a world where that situation is a necessity.

I believe that the future for many survivors sharing their stories globally will be on completely censorship-resistant and decentralized protocols. This thought in particular gives me hope. When we listen to the experiences of a diverse group of survivors, we can start to understand potential solutions to preventing the crimes from happening in the first place.

My heart is broken over the gut-wrenching stories of survivors sexually exploited online. Every time I hear the story of a survivor, I do think to myself quietly, “What could have prevented this from happening in the first place?” My heart is with survivors.

My head, on the other hand, is full of the understanding that the internet should remain free. The free flow of information should not be stopped. My mind is with the innocent citizens around the globe that deserve freedom both online and offline.

The problem is that governments don’t only want to censor illegal content that violates human rights—they create legislation that is so broad that it can impact speech and privacy of all. “Don’t you care about the kids?” Yes, I do. I do so much that I’m invested in finding solutions. I also care about all citizens around the globe that deserve an opportunity to live free from a mass surveillance society. If terrorism happens online, I should not be punished by losing my freedom. If drugs are sold online, I should not be punished. I’m not an abuser, I’m not a terrorist, and I don’t engage in illegal behaviors. I refuse to lose freedom because of others’ bad behaviors online.

I want to be clear that on a long enough timeline, the governments will decide that they can be better parents/caregivers than you can if something isn’t done to stop minors from being sexually exploited online. The price will be a complete loss of anonymity, privacy, free speech, and freedom of religion online. I find it rather insulting that governments think they’re better equipped to raise children than parents and caretakers.

So we can’t go backwards—all that we can do is go forward. Those who want to have freedom will find technology to facilitate their liberation. This will lead many over time to decentralized and open protocols. So as far as I’m concerned, this does solve a few of my worries—those who need, want, and deserve to speak freely online will have the opportunity in most countries—but what about online child sexual exploitation?

When I popped up around the decentralized space, I was met with the fear of censorship. I’m not here to censor you. I don’t write code. I couldn’t censor anyone or any piece of content even if I wanted to across the internet, no matter how depraved. I don’t have the skills to do that.

I’m here to start a conversation. Freedom comes at a cost. You must always fight for and protect your freedom. I can’t speak about protecting yourself from all of the Four Horsemen because I simply don’t know the topics well enough, but I can speak about this one topic.

If there was a shortcut to ending online child sexual exploitation, I would have found it by now. There isn’t one right now. I believe that education is the only pathway forward to preventing the crime of online child sexual exploitation for future generations.

I propose a yearly education course for every child of all school ages, taught as a standard part of the curriculum. Ideally, parents/caregivers would be involved in the education/learning process.

Course: - The creation of the internet and computers - The fight for cryptography - The tech supply chain from the ground up (example: human rights violations in the supply chain) - Corporate tech - Freedom tech - Data privacy - Digital privacy rights - AI (history-current) - Online safety (predators, scams, catfishing, extortion) - Bitcoin - Laws - How to deal with online hate and harassment - Information on who to contact if you are being abused online or offline - Algorithms - How to seek out the truth about news, etc., online

The parents/caregivers, homeschoolers, unschoolers, and those working to create decentralized parallel societies have been an inspiration while writing this, but my hope is that all children would learn this course, even in government ran schools. Ideally, parents would teach this to their own children.

The decentralized space doesn’t want child sexual exploitation to thrive. Here’s the deal: there has to be a strong prevention effort in order to protect the next generation. The internet isn’t going anywhere, predators aren’t going anywhere, and I’m not down to let anyone have the opportunity to prove that there is a need for more government. I don’t believe that the government should act as parents. The governments have had a chance to attempt to stop online child sexual exploitation, and they didn’t do it. Can we try a different pathway forward?

I’d like to put myself out of a job. I don’t want to ever hear another story like John Doe #1 ever again. This will require work. I’ve often called online child sexual exploitation the lynchpin for the internet. It’s time to arm generations of children with knowledge and tools. I can’t do this alone.

Individuals have fought so that I could have freedom online. I want to fight to protect it. I don’t want child predators to give the government any opportunity to take away freedom. Decentralized spaces are as close to a reset as we’ll get with the opportunity to do it right from the start. Start the youth off correctly by preventing potential hazards to the best of your ability.

The good news is anyone can work on this! I’d encourage you to take it and run with it. I added the additional education about the history of the internet to make the course more educational and fun. Instead of cleaning up generations of destroyed lives due to online sexual exploitation, perhaps this could inspire generations of those who will build our futures. Perhaps if the youth is armed with knowledge, they can create more tools to prevent the crime.

This one solution that I’m suggesting can be done on an individual level or on a larger scale. It should be adjusted depending on age, learning style, etc. It should be fun and playful.

This solution does not address abuse in the home or some of the root causes of offline child sexual exploitation. My hope is that it could lead to some survivors experiencing abuse in the home an opportunity to disclose with a trusted adult. The purpose for this solution is to prevent the crime of online child sexual exploitation before it occurs and to arm the youth with the tools to contact safe adults if and when it happens.

In closing, I went to hell a few times so that you didn’t have to. I spoke to the mothers of survivors of minors sexually exploited online—their tears could fill rivers. I’ve spoken with political dissidents who yearned to be free from authoritarian surveillance states. The only balance that I’ve found is freedom online for citizens around the globe and prevention from the dangers of that for the youth. Don’t slow down innovation and freedom. Educate, prepare, adapt, and look for solutions.

I’m not perfect and I’m sure that there are errors in this piece. I hope that you find them and it starts a conversation.

@ c631e267:c2b78d3e

Der Irrsinn ist bei Einzelnen etwas Seltenes – \ aber bei Gruppen, Parteien, Völkern, Zeiten die Regel. \ Friedrich Nietzsche

Erinnern Sie sich an die Horrorkomödie «Scary Movie»? Nicht, dass ich diese Art Filme besonders erinnerungswürdig fände, aber einige Szenen daraus sind doch gewissermaßen Klassiker. Dazu zählt eine, die das Verhalten vieler Protagonisten in Horrorfilmen parodiert, wenn sie in Panik flüchten. Welchen Weg nimmt wohl die Frau in der Situation auf diesem Bild?

Diese Szene kommt mir automatisch in den Sinn, wenn ich aktuelle Entwicklungen in Europa betrachte. Weitreichende Entscheidungen gehen wider jede Logik in die völlig falsche Richtung. Nur ist das hier alles andere als eine Komödie, sondern bitterernst. Dieser Horror ist leider sehr real.

Die Europäische Union hat sich selbst über Jahre konsequent in eine Sackgasse manövriert. Sie hat es versäumt, sich und ihre Politik selbstbewusst und im Einklang mit ihren Wurzeln auf dem eigenen Kontinent zu positionieren. Stattdessen ist sie in blinder Treue den vermeintlichen «transatlantischen Freunden» auf ihrem Konfrontationskurs gen Osten gefolgt.

In den USA haben sich die Vorzeichen allerdings mittlerweile geändert, und die einst hoch gelobten «Freunde und Partner» erscheinen den europäischen «Führern» nicht mehr vertrauenswürdig. Das ist spätestens seit der Münchner Sicherheitskonferenz, der Rede von Vizepräsident J. D. Vance und den empörten Reaktionen offensichtlich. Große Teile Europas wirken seitdem wie ein aufgescheuchter Haufen kopfloser Hühner. Orientierung und Kontrolle sind völlig abhanden gekommen.

Statt jedoch umzukehren oder wenigstens zu bremsen und vielleicht einen Abzweig zu suchen, geben die Crash-Piloten jetzt auf dem Weg durch die Sackgasse erst richtig Gas. Ja sie lösen sogar noch die Sicherheitsgurte und deaktivieren die Airbags. Den vor Angst dauergelähmten Passagieren fällt auch nichts Besseres ein und so schließen sie einfach die Augen. Derweil übertrumpfen sich die Kommentatoren des Events gegenseitig in sensationslüsterner «Berichterstattung».

Wie schon die deutsche Außenministerin mit höchsten UN-Ambitionen, Annalena Baerbock, proklamiert auch die Europäische Kommission einen «Frieden durch Stärke». Zu dem jetzt vorgelegten, selbstzerstörerischen Fahrplan zur Ankurbelung der Rüstungsindustrie, genannt «Weißbuch zur europäischen Verteidigung – Bereitschaft 2030», erklärte die Kommissionspräsidentin, die «Ära der Friedensdividende» sei längst vorbei. Soll das heißen, Frieden bringt nichts ein? Eine umfassende Zusammenarbeit an dauerhaften europäischen Friedenslösungen steht demnach jedenfalls nicht zur Debatte.

Zusätzlich brisant ist, dass aktuell «die ganze EU von Deutschen regiert wird», wie der EU-Parlamentarier und ehemalige UN-Diplomat Michael von der Schulenburg beobachtet hat. Tatsächlich sitzen neben von der Leyen und Strack-Zimmermann noch einige weitere Deutsche in – vor allem auch in Krisenzeiten – wichtigen Spitzenposten der Union. Vor dem Hintergrund der Kriegstreiberei in Deutschland muss eine solche Dominanz mindestens nachdenklich stimmen.

Ihre ursprünglichen Grundwerte wie Demokratie, Freiheit, Frieden und Völkerverständigung hat die EU kontinuierlich in leere Worthülsen verwandelt. Diese werden dafür immer lächerlicher hochgehalten und beschworen.

Es wird dringend Zeit, dass wir, der Souverän, diesem erbärmlichen und gefährlichen Trauerspiel ein Ende setzen und die Fäden selbst in die Hand nehmen. In diesem Sinne fordert uns auch das «European Peace Project» auf, am 9. Mai im Rahmen eines Kunstprojekts den Frieden auszurufen. Seien wir dabei!

[Titelbild: Pixabay]

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Dieser Beitrag wurde mit dem Pareto-Client geschrieben und ist zuerst auf Transition News erschienen.

@ 502ab02a:a2860397

หลายคนอาจแปลกใจว่า ทำไมน้ำมันจากผลไม้แบบอโวคาโดถึงกล้าขึ้นชั้น “ไขมันดี” ไปเทียบกับน้ำมันมะกอกได้ ทั้งที่ฟังดูไม่หรูเท่า แต่ความจริงแล้ว น้ำมันอโวคาโดคือหนึ่งในไม่กี่ชนิดของน้ำมันพืชที่สกัดจาก “เนื้อผล” ไม่ใช่เมล็ด ทำให้มีโครงสร้างไขมันที่ต่างจาก seed oils ทั่วไป ทั้งในแง่กรดไขมัน สารต้านอนุมูลอิสระ และวิธีที่มันตอบสนองต่อความร้อน

น้ำมันอโวคาโดมีกรดไขมันไม่อิ่มตัวตำแหน่งเดียว (MUFA) เป็นหลัก โดยเฉพาะ กรดโอเลอิก (Oleic acid) ซึ่งคิดเป็นประมาณ 65–70% ของไขมันทั้งหมด ใกล้เคียงน้ำมันมะกอกเลย แต่เหนือกว่าเล็กน้อยในแง่ของ ค่าควัน (smoke point) ที่สูงถึง 250°C (แบบ refined) และราว 190–200°C (แบบ cold-pressed) ทำให้เหมาะกับการผัดหรือทอดแบบเบา ๆ โดยไม่ทำให้เกิดสารพิษจากไขมันไหม้เร็วเท่าน้ำมันที่ค่าควันต่ำ

นอกจาก MUFA แล้ว น้ำมันอโวคาโดยังมี PUFA อยู่เล็กน้อย ประมาณ 10–14% ส่วนใหญ่คือ โอเมก้า-6 (linoleic acid) ซึ่งก็มีปริมาณไม่มากจนถึงขั้นต้องห่วงเรื่องการอักเสบ เหมือนที่เจอกับพวกน้ำมันรำข้าวหรือถั่วเหลืองที่ PUFA พุ่งสูงเกิน 50% ขึ้นไป และที่สำคัญ...โอเมก้า-3 ในอโวคาโดก็มีอยู่บ้างในรูปของ ALA แม้ไม่เยอะ แต่ก็บอกได้ว่าโครงสร้างโดยรวมของมันสมดุลพอควร ถ้ามองในรูปแบบพลังงานไขมัน ก็ถือว่าใช้ได้เลย

อโวคาโดออยล์แบบไม่ผ่านกระบวนการ (unrefined) ยังมีพวก วิตามินอี (tocopherols) ในระดับประมาณ 13–20 มก. ต่อ 100 กรัม และสารโพลีฟีนอลบางชนิดราวๆ 30–50 mg GAE/100 กรัม เช่น catechins และ procyanidins อยู่บ้าง ซึ่งช่วยลดการเกิดอนุมูลอิสระตอนเจอความร้อน และยังดีต่อผิวหนังในมิติของ skincare ด้วยนะ

ถ้าใช้แบบ cold-pressed, unrefined กลิ่นมันจะออกคล้ายอะโวคาโดสุก ๆ หน่อย มีความเขียวอ่อน ๆ และครีมมี่เล็ก ๆ ซึ่งเหมาะกับการคลุกหรือปรุงแบบ low heat มากกว่าการทอดแรง ส่วนถ้าจะใช้ทำอาหารจริงจัง น้ำมันอโวคาโดแบบ refined ก็จะกลิ่นอ่อนลง สีใสขึ้น และทนไฟได้ดีขึ้นมาก เหมาะจะเอาไปทำ steak หรือผัดไฟกลางได้แบบไม่กังวล อันนี้ก็แล้วแต่จะเลือกนะครับ

ถ้าจะพูดให้ตรง… น้ำมันอโวคาโดคือ “ไขมันผลไม้สายกลาง” ที่ทั้งทนไฟพอใช้ ทำครัวได้หลากหลาย และไม่บิดเบือนสัดส่วนไขมันในร่างกายเราจนเกินไป และถ้าเลือกแบบที่ผลิตดี ไม่โดนสารเคมี ไม่โดนไฮโดรเจนเสริม ก็ถือว่าเป็นน้ำมันดีอีกตัวที่วางใจได้ในครัวจริง ๆ

ใครอยากลองทำเองที่บ้านก็ได้นะ แบบง่ายๆแค่มีผ้าขาวบาง https://youtu.be/gwHGgoMuRnI?si=ehcQceabdbMGfkwG

นอกจากนี้บางคนอาจเคยเห็นโฆษณาสินค้าที่มีน้ำมันจากเมล็ดและเปลือกด้วยใช่ไหมครับ

เมล็ดอโวคาโดนั้นอุดมไปด้วย ไขมันน้อยกว่ามาก เมื่อเทียบกับเนื้อผล แต่มีสารพฤกษเคมีบางชนิดที่นักวิจัยสนใจ เช่น ฟีนอลิกส์ (phenolics), ฟลาโวนอยด์, สารต้านจุลชีพ และ ไฟเบอร์ละลายน้ำสูง การสกัดน้ำมันจากเมล็ดมักจะใช้ ตัวทำละลาย (solvent extraction) หรือ วิธี supercritical CO₂ ไม่ค่อยทำแบบ cold-pressed เพราะน้ำมันน้อยเกิน ปริมาณน้ำมันจากเมล็ดนั้นต่ำมาก คือไม่ถึง 5% ของน้ำหนักแห้ง ทำให้ไม่ค่อยนิยมในเชิงพาณิชย์ น้ำมันจากเมล็ดมักไม่ได้เอาไว้ปรุงอาหาร แต่เอาไปใช้ ด้านเวชสำอาง หรือ functional food มากกว่า เช่น ครีมทาผิว แชมพู หรือผลิตภัณฑ์ชะลอวัย

เปลือกอโวคาโดมี สารต้านจุลชีพและสารต้านออกซิเดชัน บางชนิดเช่นกัน แต่มีไขมันน้อยมากแทบจะไม่มีเลย บางงานวิจัยพยายามสกัดพวก polyphenols หรือสารสีธรรมชาติจากเปลือก เพื่อใช้ในอาหารเสริม หรือผลิตภัณฑ์สุขภาพ ไม่ได้สกัดน้ำมันโดยตรง แบบเนื้อผล แต่ใช้เปลือกเป็นวัตถุดิบเสริมมากกว่า เช่น ผสมในน้ำมันหลักเพื่อเพิ่มคุณสมบัติด้านสุขภาพ

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@ 472f440f:5669301e

As we sprint toward the 2024 US Presidential election the case for using bitcoin as an asset to store value for the long term has never been stronger. The insanity of the incumbent power structure is being laid bare and it is becoming impossible to ignore the headwinds that the Borg faces moving forward.

Yesterday morning and earlier today it became clear that inflation is rearing its head again. Not ideal for the soft landing Jerome Powell and Yellen are signaling to the markets after the first Fed Funds rate cut in years.

It seems like the yield curve predicted this earlier this week when it inverted after a temporary normalizing period after the Fed's rate cut. Futhermore, it is becoming glaringly obvious that running historically high fiscal deficits while interest rates were at multi-decade highs was a pretty bad idea. As James Lavish points out, the data from the CBO earlier this week shows that the US federal government is running a deficit that is 13% higher than it was last year. This is at a time when real wages are still depressed, inflation is still suffocating American consumers and the private sector job market for American citizens is cratering.

Speaking of the job market, the numbers that came in yesterday were worse than expected: The effect of Hurricane Helene should certainly be taken into consideration when looking at this jobs miss. However, even with the miss we know that these numbers have been under reported for years to make the economy seem healthier than it actually is. Even with Helene's effect taken into consideration this print will likely be revised higher 3-6 months from now.

All of this points to a breaking point. A breaking point for the economy and, more importantly, a breaking point for overall confidence in the US government and its ability to operate with any semblance of fiscal responsibility. The chart that Pierre Rochard shares in the tweet at the top of this letter is the only chart that matters for anyone attempting to gauge where we find ourselves on the path to bitcoin realizing its full potential.

There is $133 TRILLION worth of value sitting in global bond markets. Bitcoin is a far superior asset to store one's wealth in. Bond markets are beholden to the whims of the actors who issue those bonds. In the case of the US Treasury market, the largest bond market in the world, the US government. And as we have pointed out above, the US government is recklessly irresponsible when it comes to issuing debt with a complete inability to pay it back on the long-term. Inflation is up, the jobs market is cratering for the native born Americans who actually pay taxes, and the push toward a multi-polar geopolitical landscape is becoming more pronounced by the day. All of this points to a long-term weakening in demand for US treasuries.

The only way out of this mess is to overtly default on this debt or inflate it away. The latter will most certainly be the route that is taken, which positions bitcoin extremely well as people seek the confines of an asset that cannot be debased because it cannot be controlled by a central authority. The levels of sovereign debt in the world are staggering. Do not let the bitcoin price consolidation of the last six months lull you into a state of complacency. Even the results of the Presidential election won't have a material effect on these dynamics. Though, a Donald Trump presidency would certainly be preferable if you prefer to see relatively sane policy enacted that would provide you with time to find safety in bitcoin. But, in regards to this sovereign debt crisis, that is the only benefit you can hope for; more time to prepare. I'll leave you with some thoughts from Porter Stansberry:

"We are about to see the final destruction of the American experiment. Every economist knows this (see below) is correct; but nobody is going to tell you about it. I’ll summarize in plan English: We are fucked.

1. Debt is growing much faster than GD and interest expense is growing much faster than debt; and the real growth in entitlement spending hasn’t even begun yet.

2. Progressive taxation means nobody will ever vote for less spending + the combined size of government employees and dependents, there’s no way for America’s actual taxpayers (about 20m people) to ever win an election, so the spending won’t stop growing and, ironically, inflation will make demands for more spending to grow.

3. Inflation undermines both economic growth and social cohesion. The purple hair man-women weirdos are only the beginning; what comes next is scapegoating jews, blacks, immigrants and a huge increase in violence/domestic terror.

Get ready America. This election has nothing to do with what’s coming. And neither Trump nor Kamala can stop it.

Our experiment in freedom and self-government died in 1971 (when all restraint on government spending was abandoned with the gold standard.) You can only live at the expense of your neighbor until he runs out of money.

And that day is here."

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Final thought... I hope my tux still fits for this wedding. Enjoy your weekend, freaks.Use the code "TFTC" for 15% off

@ c239c0f9:fa4a5015

Block: #897676 - May 2025

It's again that time of the month, time to catch up with the latest features and trends that are shaping the future of Bitcoin—the very first and most commented insights from around SN cypherspace. Every issue arrives with expert analysis, in-depth interview, and breaking news of the most significant advancements in the Bitcoin layer two solutions.

Two new things this month: A) zaps to these posts will be split to the top contributor to this territory B) As have stacked some cowboy credits lately, I'll give them away to the stackers commenting below anything meaningful, feedback to this newsletter, or suggestions to improve the territory

Subscribe to the territory and make sure you don’t miss anything about the Bitcoin Revolution!

Now let's focus on the top five items for each category, an electrifying selection that hope you'll be able to read before next edition.

Happy Zapping!

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Top ~Lightning posts

Most zapranked posts this month:

1. Liquidity requirements for Lightning payments: Ark servers and LSPs compared by @supratic 409 sats \ 8 comments \ 12 May

2. Wallet of Satoshi is coming back to US with non-custodial wallet by @k00b 906 sats \ 18 comments \ 18 May

3. How to offer Submarine Swaps — Electrum Documentation by @f321x7 836 sats \ 5 comments \ 13 May

4. Parallel channels are a mess - a rant by @C_Otto 1918 sats \ 5 comments \ 1 May

5. LNBig insight about running a LN node by @DarthCoin 1244 sats \ 10 comments \ 23 Apr

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Top posts by comments

Excluding the ones already mentioned above, you can see them all here (excluding those already listed above):

1. I believe CoinOS will resolve itself, but this screenshot is a rug pull 💨 by @realBitcoinDog 411 sats \ 73 comments \ 13 May

2. CoinOS having some issues by @StillStackinAfterAllTheseYears 268 sats \ 24 comments \ 10 May

3. BOLT12 Suggestions? by @metadavid 516 sats \ 16 comments \ 28 Apr

4. Phoenix Wallet - Swap In by @02b58a1376 256 sats \ 15 comments \ 25 Apr

5. Clearnet+Tor LND in Docker with wireguard VPS for privacy by @klk 696 sats \ 14 comments \ 27 Apr

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Top ~Lightning Boosts

Check them all here.

1. What is the Right LSP for You? [VIDEO] by @Jestopher_BTC 667 sats \ 30k boost \ 3 comments \ 15 May

2. Things Bitcoiners Don’t Want To Hear (2020) by @k00b 1553 sats \ 20k boost \ 15 comments \ 10 May

3. Liquidity Subscriptions: Automated Liquidity for Merchants by @Jestopher_BTC 448 sats \ 10k boost \ 4 comments \ 8 May lightning

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Don't miss...

Lightning Network : our high-maintenance crazy-ex by @avbpod

Coinbase announces L402 copycat "x402" by @bounty_hunter

15% of Coinbase’s Bitcoin transactions run on the Lightning Network by @south_korea_ln

An Exposition of Pathfinding Strategies Within Lightning Network Clients by @supratic

How to censor users in cashu? by @kpa

@darthcoin by @Thecanadian88

Cashu Highlights Q1 by @supratic

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Top Lightning posts outside ~Lightning

This month best posts about the Lightning Network outside ~Lightning territory:

1. Ultimate guide to LN routing and fee management. by @javier 21.6k sats \ 39 comments \ 6 May on ~bitcoin

2. Mobile (non-phone) Lightning Wallet? by @jasonb 565 sats \ 36 comments \ 30 Apr on ~bitcoin

3. Robosats Guide by @siggy47 33k sats \ 27 comments \ 22 Apr on ~bitcoin_beginners

4. LNemail: Private Disposable Email via Lightning by @lnemail 2758 sats \ 22 comments \ 18 May on ~privacy

5. Another explanation of how Ark works 1329 sats \ 10 comments \ @k00b 21 May on ~bitcoin

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Forever top ~Lightning posts

La crème de la crème... check them all here. Nothing has changed this month!

1. 👨‍🚀 We're releasing 𝗔𝗟𝗕𝗬 𝗚𝗢 - the easiest lightning mobile wallet by @Alby 29.2k sats \ 41 comments \ @Alby 25 Sep 2024 on ~lightning

2. Building Self Custody Lightning in 2025 by @k00b 2303 sats \ 8 comments \ 22 Jan on ~lightning

3. Lightning Wallets: Self-Custody Despite Poor Network - Apps Tested in Zimbabwe by @anita 72.8k sats \ 39 comments \ 28 Jan 2024 lightning on ~lightning

4. How to Attach Your self-hosted LNbits wallet to SEND/RECEIVE sats to/from SN by @supratic 1765 sats \ 18 comments \ 23 Sep 2024 on ~lightning

5. A Way to Use Stacker News to improve your Zap Receiving by @bzzzt 1652 sats \ 22 comments \ 15 Jul 2024 on ~lightning

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Forever top Lightning posts outside ~Lightning

Ek's post rise at #5, congrats!

1. Rethinking Lightning by @benthecarman 51.7k sats \ 140 comments \ 6 Jan 2024 on ~bitcoin

2. Lightning Everywhere by @TonyGiorgio 12k sats \ 27 comments \ 24 Jul 2023 on ~bitcoin

3. Lightning is dead, long live the Lightning! by @supertestnet and zaps forwarded to @anita (50%) @k00b (50%) 6321 sats \ 28 comments \ @tolot 27 Oct 2023 on ~bitcoin

4. Bisq2 adds lightning by @supertestnet 3019 sats \ 47 comments \ 19 Aug 2024 on ~bitcoin

5. Lightning Prediction Market MVP - delphi.market by @ek 34.1k sats \ 59 comments \ 4 Dec 2023 on ~bitcoin

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@ 7460b7fd:4fc4e74b

如果比特币发明了真正的钱，那么 Crypto 是什么？

引言

比特币诞生之初就以“数字黄金”姿态示人，被支持者誉为人类历史上第一次发明了真正意义上的钱——一种不依赖国家信用、总量恒定且不可篡改的硬通货。然而十多年过去，比特币之后蓬勃而起的加密世界（Crypto）已经远超“货币”范畴：从智能合约平台到去中心组织，从去央行的稳定币到戏谑荒诞的迷因币，Crypto 演化出一个丰富而混沌的新生态。这不禁引发一个根本性的追问：如果说比特币解决了“真金白银”的问题，那么 Crypto 又完成了什么发明？

Crypto 与政治的碰撞：随着Crypto版图扩张，全球政治势力也被裹挟进这场金融变革洪流（示意图）。比特币的出现重塑了货币信用，但Crypto所引发的却是一场更深刻的政治与治理结构实验。从华尔街到华盛顿，从散户论坛到主权国家，越来越多人意识到：Crypto不只是技术或金融现象，而是一种全新的政治表达结构正在萌芽。正如有激进论者所断言的：“比特币发明了真正的钱，而Crypto则在发明新的政治。”价格K线与流动性曲线，或许正成为这个时代社群意志和社会价值观的新型投射。

冲突结构：当价格挑战选票

传统政治中，选票是人民意志的载体，一人一票勾勒出民主治理的正统路径。而在链上的加密世界里，骤升骤降的价格曲线和真金白银的买卖行为却扮演起了选票的角色：资金流向成了民意走向，市场多空成为立场表决。价格行为取代选票，这听来匪夷所思，却已在Crypto社群中成为日常现实。每一次代币的抛售与追高，都是社区对项目决策的即时“投票”；每一根K线的涨跌，都折射出社区意志的赞同或抗议。市场行为本身承担了决策权与象征权——价格即政治，正在链上蔓延。

这一新生政治形式与旧世界的民主机制形成了鲜明冲突。bitcoin.org中本聪在比特币白皮书中提出“一CPU一票”的工作量证明共识，用算力投票取代了人为决策bitcoin.org。而今，Crypto更进一步，用资本市场的涨跌来取代传统政治的选举。支持某项目？直接购入其代币推高市值；反对某提案？用脚投票抛售资产。相比漫长的选举周期和层层代议制，链上市场提供了近乎实时的“公投”机制。但这种机制也引发巨大争议：资本的投票天然偏向持币多者（富者）的意志，是否意味着加密政治更为金权而非民权？持币多寡成为影响力大小，仿佛选举演变成了“一币一票”，巨鲸富豪俨然掌握更多话语权。这种与民主平等原则的冲突，成为Crypto政治形式饱受质疑的核心张力之一。

尽管如此，我们已经目睹市场投票在Crypto世界塑造秩序的威力：2016年以太坊因DAO事件分叉时，社区以真金白银“投票”决定了哪条链获得未来。arkhamintelligence.com结果是新链以太坊（ETH）成为主流，其市值一度超过2,800亿美元，而坚持原则的以太经典（ETC）市值不足35亿美元，不及前者的八十分之一arkhamintelligence.com。市场选择清楚地昭示了社区的政治意志。同样地，在比特币扩容之争、各类硬分叉博弈中，无不是由投资者和矿工用资金与算力投票，胜者存续败者黯然。价格成为裁决纷争的最终选票，冲击着传统“选票决胜”的政治理念。Crypto的价格民主，与现代代议民主正面相撞，激起当代政治哲思中前所未有的冲突火花。

治理与分配

XRP对决SEC成为了加密世界“治理与分配”冲突的经典战例。2020年底，美国证券交易委员会（SEC）突然起诉Ripple公司，指控其发行的XRP代币属于未注册证券，消息一出直接引爆市场恐慌。XRP价格应声暴跌，一度跌去超过60%，最低触及0.21美元coindesk.com。曾经位居市值前三的XRP险些被打入谷底，监管的强硬姿态似乎要将这个项目彻底扼杀。

然而XRP社区没有选择沉默。 大批长期持有者组成了自称“XRP军团”（XRP Army）的草根力量，在社交媒体上高调声援Ripple，对抗监管威胁。面对SEC的指控，他们集体发声，质疑政府选择性执法，声称以太坊当年发行却“逍遥法外”，只有Ripple遭到不公对待coindesk.com。正如《福布斯》的评论所言：没人预料到愤怒的加密散户投资者会掀起法律、政治和社交媒体领域的‘海啸式’反击，痛斥监管机构背弃了保护投资者的承诺crypto-law.us。这种草根抵抗监管的话语体系迅速形成：XRP持有者不但在网上掀起舆论风暴，还采取实际行动向SEC施压。他们发起了请愿，抨击SEC背离保护投资者初衷、诉讼给个人投资者带来巨大伤害，号召停止对Ripple的上诉纠缠——号称这是在捍卫全球加密用户的共同利益bitget.com。一场由民间主导的反监管运动就此拉开帷幕。

Ripple公司则选择背水一战，拒绝和解，在法庭上与SEC针锋相对地鏖战了近三年之久。Ripple坚称XRP并非证券，不应受到SEC管辖，即使面临沉重法律费用和业务压力也不妥协。2023年，这场持久战迎来了标志性转折：美国法庭作出初步裁决，认定XRP在二级市场的流通不构成证券coindesk.com。这一胜利犹如给沉寂已久的XRP注入强心针——消息公布当天XRP价格飙涨近一倍，盘中一度逼近1美元大关coindesk.com。沉重监管阴影下苟延残喘的项目，凭借司法层面的突破瞬间重获生机。这不仅是Ripple的胜利，更被支持者视为整个加密行业对SEC强权的一次胜仗。

XRP的对抗路线与某些“主动合规”的项目形成了鲜明对比。 稳定币USDC的发行方Circle、美国最大合规交易所Coinbase等选择了一条迎合监管的道路：它们高调拥抱现行法规，希望以合作换取生存空间。然而现实却给了它们沉重一击。USDC稳定币在监管风波中一度失去美元锚定，哪怕Circle及时披露储备状况也无法阻止恐慌蔓延，大批用户迅速失去信心，短时间内出现数十亿美元的赎回潮blockworks.co。Coinbase则更为直接：即便它早已注册上市、反复向监管示好，2023年仍被SEC指控为未注册证券交易所reuters.com，卷入漫长诉讼漩涡。可见，在迎合监管的策略下，这些机构非但未能换来监管青睐，反而因官司缠身或用户流失而丧失市场信任。 相比之下，XRP以对抗求生存的路线反而赢得了投资者的眼光：价格的涨跌成为社区投票的方式，抗争的勇气反过来强化了市场对它的信心。

同样引人深思的是另一种迥异的治理路径：技术至上的链上治理。 以MakerDAO为代表的去中心化治理模式曾被寄予厚望——MKR持币者投票决策、算法维持稳定币Dai的价值，被视为“代码即法律”的典范。然而，这套纯技术治理在市场层面却未能形成广泛认同，亦无法激发群体性的情绪动员。复杂晦涩的机制使得普通投资者难以参与其中，MakerDAO的治理讨论更多停留在极客圈子内部，在社会大众的政治对话中几乎听不见它的声音。相比XRP对抗监管所激发的铺天盖地关注，MakerDAO的治理实验显得默默无闻、难以“出圈”。这也说明，如果一种治理实践无法连接更广泛的利益诉求和情感共鸣，它在社会政治层面就难以形成影响力。

XRP之争的政治象征意义由此凸显： 它展示了一条“以市场对抗国家”的斗争路线，即通过代币价格的集体行动来回应监管权力的施压。在这场轰动业界的对决中，价格即是抗议的旗帜，涨跌映射着政治立场。XRP对SEC的胜利被视作加密世界向旧有权力宣告的一次胜利：资本市场的投票器可以撼动监管者的强权。这种“价格即政治”的张力，正是Crypto世界前所未有的社会实验：去中心化社区以市场行为直接对抗国家权力，在无形的价格曲线中凝聚起政治抗争的力量，向世人昭示加密货币不仅有技术和资本属性，更蕴含着不可小觑的社会能量和政治意涵。

不可归零的政治资本

Meme 币的本质并非廉价或易造，而在于其构建了一种“无法归零”的社群生存结构。 对于传统观点而言，多数 meme 币只是短命的投机游戏：价格暴涨暴跌后一地鸡毛，创始人套现跑路，投资者血本无归，然后“大家转去炒下一个”theguardian.com。然而，meme 币社群的独特之处在于——失败并不意味着终结，而更像是运动的逗号而非句号。一次币值崩盘后，持币的草根们往往并未散去；相反，他们汲取教训，准备东山再起。这种近乎“不死鸟”的循环，使得 meme 币运动呈现出一种数字政治循环的特质：价格可以归零，但社群的政治热情和组织势能不归零。正如研究者所指出的，加密领域中的骗局、崩盘等冲击并不会摧毁生态，反而成为让系统更加强韧的“健康应激”，令整个行业在动荡中变得更加反脆弱cointelegraph.com。对应到 meme 币，每一次暴跌和重挫，都是社群自我进化、卷土重来的契机。这个去中心化群体打造出一种自组织的安全垫，失败者得以在瓦砾上重建家园。对于草根社群、少数派乃至体制的“失败者”而言，meme 币提供了一个永不落幕的抗争舞台，一种真正反脆弱的政治性。正因如此，我们看到诸多曾被嘲笑的迷因项目屡败屡战：例如 Dogecoin 自2013年问世后历经八年沉浮，早已超越玩笑属性，成为互联网史上最具韧性的迷因之一frontiersin.org；支撑 Dogecoin 的正是背后强大的迷因文化和社区意志，它如同美国霸权支撑美元一样，为狗狗币提供了“永不中断”的生命力frontiersin.org。

“复活权”的数字政治意涵

这种“失败-重生”的循环结构蕴含着深刻的政治意涵：在传统政治和商业领域，一个政党选举失利或一家公司破产往往意味着清零出局，资源散尽、组织瓦解。然而在 meme 币的世界，社群拥有了一种前所未有的“复活权”。当项目崩盘，社区并不必然随之消亡，而是可以凭借剩余的人心和热情卷土重来——哪怕换一个 token 名称，哪怕重启一条链，运动依然延续。正如 Cheems 项目的核心开发者所言，在几乎无人问津、技术受阻的困境下，大多数人可能早已卷款走人，但 “CHEEMS 社区没有放弃，背景、技术、风投都不重要，重要的是永不言弃的精神”cointelegraph.com。这种精神使得Cheems项目起死回生，社区成员齐声宣告“我们都是 CHEEMS”，共同书写历史cointelegraph.com。与传统依赖风投和公司输血的项目不同，Cheems 完全依靠社区的信念与韧性存续发展，体现了去中心化运动的真谛cointelegraph.com。这意味着政治参与的门槛被大大降低：哪怕没有金主和官方背书，草根也能凭借群体意志赋予某个代币新的生命。对于身处社会边缘的群体来说，meme 币俨然成为自组织的安全垫和重新集结的工具。难怪有学者指出，近期涌入meme币浪潮的主力，正是那些对现实失望但渴望改变命运的年轻人theguardian.com——“迷茫的年轻人，想要一夜暴富”theguardian.com。meme币的炒作表面上看是投机赌博，但背后蕴含的是草根对既有金融秩序的不满与反抗：没有监管和护栏又如何？一次失败算不得什么，社区自有后路和新方案。这种由底层群众不断试错、纠错并重启的过程，本身就是一种数字时代的新型反抗运动和群众动员机制。

举例而言，Terra Luna 的沉浮充分展现了这种“复活机制”的政治力量。作为一度由风投资本热捧的项目，Luna 币在2022年的崩溃本可被视作“归零”的失败典范——稳定币UST瞬间失锚，Luna币价归零，数十亿美元灰飞烟灭。然而“崩盘”并没有画下休止符。Luna的残余社区拒绝承认失败命运，通过链上治理投票毅然启动新链，“复活”了 Luna 代币，再次回到市场交易reuters.com。正如 Terra 官方在崩盘后发布的推文所宣称：“我们力量永在社区，今日的决定正彰显了我们的韧性”reuters.com。事实上，原链更名为 Luna Classic 后，大批所谓“LUNC 军团”的散户依然死守阵地，誓言不离不弃；他们自发烧毁巨量代币以缩减供应、推动技术升级，试图让这个一度归零的项目重新燃起生命之火binance.com。失败者并未散场，而是化作一股草根洪流，奋力托举起项目的残迹。经过迷因化的叙事重塑，这场从废墟中重建价值的壮举，成为加密世界中草根政治的经典一幕。类似的案例不胜枚举：曾经被视为笑话的 DOGE（狗狗币）正因多年社群的凝聚而跻身主流币种，总市值一度高达数百亿美元，充分证明了“民有民享”的迷因货币同样可以笑傲市场frontiersin.org。再看最新的美国政治舞台，连总统特朗普也推出了自己的 meme 币 $TRUMP，号召粉丝拿真金白银来表达支持。该币首日即从7美元暴涨至75美元，两天后虽回落到40美元左右，但几乎同时，第一夫人 Melania 又发布了自己的 $Melania 币，甚至连就职典礼的牧师都跟风发行了纪念币theguardian.com！显然，对于狂热的群众来说，一个币的沉浮并非终点，而更像是运动的换挡——资本市场成为政治参与的新前线，你方唱罢我登场，meme 币的群众动员热度丝毫不减。值得注意的是，2024年出现的 Pump.fun 等平台更是进一步降低了这一循环的技术门槛，任何人都可以一键生成自己的 meme 币theguardian.com。这意味着哪怕某个项目归零，剩余的社区完全可以借助此类工具迅速复制一个新币接力，延续集体行动的火种。可以说，在 meme 币的世界里，草根社群获得了前所未有的再生能力和主动权，这正是一种数字时代的群众政治奇观：失败可以被当作梗来玩，破产能够变成重生的序章。

价格即政治：群众投机的新抗争

meme 币现象的兴盛表明：在加密时代，价格本身已成为一种政治表达。这些看似荒诞的迷因代币，将金融市场变成了群众宣泄情绪和诉求的另一个舞台。有学者将此概括为“将公民参与直接转化为了投机资产”cdn-brighterworld.humanities.mcmaster.ca——也就是说，社会运动的热情被注入币价涨跌，政治支持被铸造成可以交易的代币。meme 币融合了金融、技术与政治，通过病毒般的迷因文化激发公众参与，形成对现实政治的某种映射cdn-brighterworld.humanities.mcmaster.caosl.com。当一群草根投入全部热忱去炒作一枚毫无基本面支撑的币时，这本身就是一种大众政治动员的体现：币价暴涨，意味着一群人以戏谑的方式在向既有权威叫板；币价崩盘，也并不意味着信念的消亡，反而可能孕育下一次更汹涌的造势。正如有分析指出，政治类 meme 币的出现前所未有地将群众文化与政治情绪融入市场行情，价格曲线俨然成为民意和趋势的风向标cdn-brighterworld.humanities.mcmaster.ca。在这种局面下，投机不再仅仅是逐利，还是一种宣示立场、凝聚共识的过程——一次次看似荒唐的炒作背后，是草根对传统体制的不服与嘲讽，是失败者拒绝认输的呐喊。归根结底，meme 币所累积的，正是一种不可被归零的政治资本。价格涨落之间，群众的愤怒、幽默与希望尽显其中；这股力量不因一次挫败而消散，反而在市场的循环中愈发壮大。也正因如此，我们才说“价格即政治”——在迷因币的世界里，价格不只是数字，更是人民政治能量的晴雨表，哪怕归零也终将卷土重来。cdn-brighterworld.humanities.mcmaster.caosl.com

全球新兴现象：伊斯兰金融的入场

当Crypto在西方世界掀起市场治政的狂潮时，另一股独特力量也悄然融入这一场域：伊斯兰金融携其独特的道德秩序，开始在链上寻找存在感。长期以来，伊斯兰金融遵循着一套区别于世俗资本主义的原则：禁止利息（Riba）、反对过度投机（Gharar/Maysir）、强调实际资产支撑和道德投资。当这些原则遇上去中心化的加密技术，会碰撞出怎样的火花？出人意料的是，这两者竟在“以市场行为表达价值”这个层面产生了惊人的共鸣。伊斯兰金融并不拒绝市场机制本身，只是为其附加了道德准则；Crypto则将市场机制推向了政治高位，用价格来表达社群意志。二者看似理念迥异，实则都承认市场行为可以也应当承载社会价值观。这使得越来越多金融与政治分析人士开始关注：当虔诚的宗教伦理遇上狂野的加密市场，会塑造出何种新范式？

事实上，穆斯林世界已经在探索“清真加密”的道路。一些区块链项目致力于确保协议符合伊斯兰教法（Sharia）的要求。例如Haqq区块链发行的伊斯兰币（ISLM），从规则层面内置了宗教慈善义务——每发行新币即自动将10%拨入慈善DAO，用于公益捐赠，以符合天课（Zakat）的教义nasdaq.comnasdaq.com。同时，该链拒绝利息和赌博类应用，2022年还获得了宗教权威的教令（Fatwa）认可其合规性nasdaq.com。再看理念层面，伊斯兰经济学强调货币必须有内在价值、收益应来自真实劳动而非纯利息剥削。这一点与比特币的“工作量证明”精神不谋而合——有人甚至断言法定货币无锚印钞并不清真，而比特币这类需耗费能源生产的资产反而更符合教法初衷cointelegraph.com。由此，越来越多穆斯林投资者开始以道德投资的名义进入Crypto领域，将资金投向符合清真原则的代币和协议。

这种现象带来了微妙的双重合法性：一方面，Crypto世界原本奉行“价格即真理”的世俗逻辑，而伊斯兰金融为其注入了一股道德合法性，使部分加密资产同时获得了宗教与市场的双重背书；另一方面，即便在遵循宗教伦理的项目中，最终决定成败的依然是市场对其价值的认可。道德共识与市场共识在链上交汇，共同塑造出一种混合的新秩序。这一全球新兴现象引发广泛议论：有人将其视为金融民主化的极致表现——不同文化价值都能在市场平台上表达并竞争；也有人警惕这可能掩盖新的风险，因为把宗教情感融入高风险资产，既可能凝聚强大的忠诚度，也可能在泡沫破裂时引发信仰与财富的双重危机。但无论如何，伊斯兰金融的入场使Crypto的政治版图更加丰盈多元。从华尔街交易员到中东教士，不同背景的人们正通过Crypto这个奇特的舞台，对人类价值的表达方式进行前所未有的实验。

升华结语：价格即政治的新直觉

回顾比特币问世以来的这段历程，我们可以清晰地看到一条演进的主线：先有货币革命，后有政治发明。比特币赋予了人类一种真正自主的数字货币，而Crypto在此基础上完成的，则是一项前所未有的政治革新——它让市场价格行为承担起了类似政治选票的功能，开创了一种“价格即政治”的新直觉。在这个直觉下，市场不再只是冷冰冰的交易场所；每一次资本流动、每一轮行情涨落，都被赋予了社会意义和政治涵义。买入即表态，卖出即抗议，流动性的涌入或枯竭胜过千言万语的陈情。Crypto世界中，K线图俨然成为民意曲线，行情图就是政治晴雨表。决策不再由少数权力精英关起门来制定，而是在全球无眠的交易中由无数普通人共同谱写。这样的政治形式也许狂野，也许充满泡沫和噪音，但它不可否认地调动起了广泛的社会参与，让原本疏离政治进程的个体通过持币、交易重新找回了影响力的幻觉或实感。

“价格即政治”并非一句简单的口号，而是Crypto给予世界的全新想象力。它质疑了传统政治的正统性：如果一串代码和一群匿名投资者就能高效决策资源分配，我们为何还需要繁冗的官僚体系？它也拷问着自身的内在隐忧：当财富与权力深度绑定，Crypto政治如何避免堕入金钱统治的老路？或许，正是在这样的矛盾和张力中，人类政治的未来才会不断演化。Crypto所开启的，不仅是技术乌托邦或金融狂欢，更可能是一次对民主形式的深刻拓展和挑战。这里有最狂热的逐利者，也有最理想主义的社群塑梦者；有一夜暴富的神话，也有瞬间破灭的惨痛。而这一切汇聚成的洪流，正冲撞着工业时代以来既定的权力谱系。

当我们再次追问：Crypto究竟是什么？ 或许可以这样回答——Crypto是比特币之后，人类完成的一次政治范式的试验性跃迁。在这里，价格行为化身为选票，资本市场演化为广场，代码与共识共同撰写“社会契约”。这是一场仍在进行的文明实验：它可能无声地融入既有秩序，也可能剧烈地重塑未来规则。但无论结局如何，如今我们已经见证：在比特币发明真正的货币之后，Crypto正在发明真正属于21世纪的政治。它以数字时代的语言宣告：在链上，价格即政治，市场即民意，代码即法律。这，或许就是Crypto带给我们的最直观而震撼的本质启示。

参考资料：

• 中本聪. 比特币白皮书: 一种点对点的电子现金系统. (2008)bitcoin.org

• Arkham Intelligence. Ethereum vs Ethereum Classic: Understanding the Differences. (2023)arkhamintelligence.com

• Binance Square (@渔神的加密日记). 狗狗币价格为何上涨？背后的原因你知道吗？binance.com

• Cointelegraph中文. 特朗普的迷因币晚宴预期内容揭秘. (2025)cn.cointelegraph.com

• 慢雾科技 Web3Caff (@Lisa). 风险提醒：从 LIBRA 看“政治化”的加密货币骗局. (2025)web3caff.com

• Nasdaq (@Anthony Clarke). How Cryptocurrency Aligns with the Principles of Islamic Finance. (2023)nasdaq.comnasdaq.com

• Cointelegraph Magazine (@Andrew Fenton). DeFi can be halal but not DOGE? Decentralizing Islamic finance. (2023)cointelegraph.com

@ ffbcb706:b0574044

Just a client name test

@ 21335073:a244b1ad

I want to see Nostr succeed. If you can think of a way I can help make that happen, I’m open to it. I’d like your suggestions.

My schedule’s shifting soon, and I could volunteer a few hours a week to a Nostr project. I won’t have more total time, but how I use it will change.

Why help? I care about freedom. Nostr’s one of the most powerful freedom tools I’ve seen in my lifetime. If I believe that, I should act on it.

I don’t care about money or sats. I’m not rich, I don’t have extra cash. That doesn’t drive me—freedom does. I’m volunteering, not asking for pay.

I’m not here for clout. I’ve had enough spotlight in my life; it doesn’t move me. If I wanted clout, I’d be on Twitter dropping basic takes. Clout’s easy. Freedom’s hard. I’d rather help anonymously. No speaking at events—small meetups are cool for the vibe, but big conferences? Not my thing. I’ll never hit a huge Bitcoin conference. It’s just not my scene.

That said, I could be convinced to step up if it’d really boost Nostr—as long as it’s legal and gets results.

In this space, I’d watch for social engineering. I watch out for it. I’m not here to make friends, just to help. No shade—you all seem great—but I’ve got a full life and awesome friends irl. I don’t need your crew or to be online cool. Connect anonymously if you want; I’d encourage it.

I’m sick of watching other social media alternatives grow while Nostr kinda stalls. I could trash-talk, but I’d rather do something useful.

Skills? I’m good at spotting social media problems and finding possible solutions. I won’t overhype myself—that’s weird—but if you’re responding, you probably see something in me. Perhaps you see something that I don’t see in myself.

If you need help now or later with Nostr projects, reach out. Nostr only—nothing else. Anonymous contact’s fine. Even just a suggestion on how I can pitch in, no project attached, works too. 💜

Creeps or harassment will get blocked or I’ll nuke my simplex code if it becomes a problem.

https://simplex.chat/contact#/?v=2-4&smp=smp%3A%2F%2FSkIkI6EPd2D63F4xFKfHk7I1UGZVNn6k1QWZ5rcyr6w%3D%40smp9.simplex.im%2FbI99B3KuYduH8jDr9ZwyhcSxm2UuR7j0%23%2F%3Fv%3D1-2%26dh%3DMCowBQYDK2VuAyEAS9C-zPzqW41PKySfPCEizcXb1QCus6AyDkTTjfyMIRM%253D%26srv%3Djssqzccmrcws6bhmn77vgmhfjmhwlyr3u7puw4erkyoosywgl67slqqd.onion

@ 15f9e159:ca9a5ac4

A plataforma 755Bet é uma das principais opções para quem busca uma experiência única no universo dos jogos online. Com uma interface intuitiva, jogos de alta qualidade e uma experiência de usuário focada na diversão e no prazer do jogador, o 755Bet se destaca como um dos destinos preferidos para quem deseja aproveitar ao máximo o entretenimento digital. Vamos explorar o que torna o 755Bet uma plataforma tão especial e por que ele deve ser a sua próxima escolha para diversão online.

Plataforma 755Bet: Um Espaço Inovador e Completo O 755Bet oferece aos jogadores uma plataforma moderna e fácil de navegar, permitindo que se conectem ao mundo do entretenimento online com apenas alguns cliques. A plataforma é projetada para ser acessível tanto para novatos quanto para jogadores experientes, com recursos que atendem a diferentes gostos e preferências.

Com um design que prioriza a simplicidade, o 755Bet garante que seus usuários possam encontrar rapidamente o que procuram. Seja para jogar ou simplesmente explorar as opções oferecidas, a experiência do usuário é fluida e sem complicações. Além disso, o site é otimizado para dispositivos móveis, permitindo que você aproveite a diversão a qualquer hora e em qualquer lugar.

A plataforma oferece diversos métodos de pagamento seguros, garantindo que os jogadores possam realizar transações de maneira rápida e sem preocupações. O 755bet também investe constantemente em melhorar a segurança dos dados de seus usuários, com protocolos avançados de criptografia para proteger as informações pessoais e financeiras.

Jogos no 755Bet: Variedade para Todos os Gostos Uma das principais atrações do 755Bet é a ampla seleção de jogos oferecidos. Se você é fã de jogos de mesa, como blackjack e roleta, ou prefere jogos de habilidade e estratégia, o 755Bet tem algo para todos. A variedade de opções garante que cada jogador possa encontrar o jogo que mais lhe agrada, com gráficos de alta qualidade e jogabilidade envolvente.

O site conta com uma vasta gama de opções, que incluem títulos populares de diferentes categorias. Além disso, novos jogos estão sempre sendo adicionados ao portfólio, garantindo que os jogadores nunca fiquem sem novidades. A plataforma oferece jogos com diferentes níveis de dificuldade, o que significa que tanto iniciantes quanto veteranos podem aproveitar as opções disponíveis, sempre encontrando o jogo que se adapta ao seu estilo.

Experiência do Jogador: Diversão e Comodidade No 755Bet, a experiência do jogador é uma prioridade. A plataforma não apenas oferece jogos de alta qualidade, mas também foca em criar um ambiente acolhedor e acessível. O atendimento ao cliente é uma parte fundamental da experiência do usuário, com uma equipe dedicada pronta para responder a qualquer dúvida ou ajudar com problemas de forma rápida e eficaz.

Além disso, o 755Bet oferece promoções e bônus que tornam a experiência ainda mais interessante para seus jogadores. Isso inclui recompensas para novos membros, bem como ofertas especiais para usuários regulares. Esses incentivos ajudam a manter a motivação dos jogadores e garantem que a experiência seja sempre divertida e recompensadora.

O 755Bet também conta com recursos de personalização que permitem aos jogadores ajustar a plataforma conforme suas preferências. Isso pode incluir a escolha de temas, ajustes de notificação e preferências de jogo, tudo para garantir que o ambiente de jogo seja o mais agradável possível.

Conclusão O 755Bet se destaca como uma plataforma completa para quem busca uma experiência online rica e envolvente. Com uma interface intuitiva, uma ampla variedade de jogos e um foco constante na satisfação do jogador, ele é um destino obrigatório para aqueles que querem explorar o universo dos jogos online de forma segura, divertida e acessível. Seja você um novato ou um jogador experiente, o 755Bet tem tudo o que você precisa para uma experiência inesquecível.

@ 15f9e159:ca9a5ac4

O mundo dos jogos online está sempre em evolução, e novas plataformas surgem constantemente para oferecer experiências únicas aos jogadores. O 0e0e é uma dessas plataformas, que vem conquistando o público com uma proposta inovadora, repleta de jogos envolventes e uma interface amigável. Se você está em busca de uma nova forma de diversão e desafios, o 0e0e oferece tudo isso e muito mais.

Introdução à Plataforma 0e0e O 0e0e é uma plataforma online que tem como principal objetivo proporcionar uma experiência de entretenimento de qualidade. Com um design moderno e acessível, a plataforma é fácil de navegar, permitindo que os jogadores se sintam à vontade ao explorar suas diversas funcionalidades. O 0e0e está disponível para todos os tipos de dispositivos, garantindo que os usuários possam jogar a qualquer hora e em qualquer lugar, seja no desktop ou no celular.

Ao acessar a plataforma, os jogadores têm acesso a uma ampla variedade de jogos, além de recursos que tornam a experiência ainda mais agradável, como bônus atrativos, promoções e um atendimento ao cliente de excelência. O 0e0efoca em criar um ambiente dinâmico, que agrada tanto aos iniciantes quanto aos jogadores mais experientes.

Jogos no 0e0e: Diversão Sem Limites Uma das maiores vantagens do 0e0e é sua vasta seleção de jogos, que atende aos mais diversos gostos e preferências. Seja você fã de jogos de habilidade, estratégia ou entretenimento de alta ação, a plataforma tem opções para todos. Entre os jogos mais populares, encontramos desde clássicos da cultura de jogos até títulos exclusivos que você não encontra facilmente em outras plataformas.

Os jogos disponíveis são desenvolvidos por fornecedores renomados da indústria, garantindo gráficos impressionantes, jogabilidade fluida e uma experiência imersiva. Cada jogo foi cuidadosamente selecionado para proporcionar momentos de diversão, com desafios que mantêm os jogadores engajados e motivados a explorar cada vez mais as opções da plataforma.

Uma das atrações mais procuradas pelos usuários do 0e0e são os jogos de mesa, que oferecem uma experiência tradicional de jogo com um toque moderno. Os jogadores podem escolher entre várias modalidades, cada uma com regras fáceis de aprender, mas desafiadoras o suficiente para manter o interesse.

Além disso, a plataforma oferece jogos com temas variados, desde aventuras épicas a opções mais leves e descontraídas. Seja você um jogador casual ou alguém em busca de competição, há sempre algo para experimentar no 0e0e.

Experiência do Jogador: Conforto e Inovação O 0e0e entende que a experiência do jogador vai além da simples escolha de jogos. A plataforma investe em diversos aspectos para garantir que a navegação seja intuitiva e sem complicações. O processo de registro e acesso aos jogos é simples, permitindo que qualquer pessoa, independentemente da sua familiaridade com plataformas digitais, possa começar a jogar rapidamente.

Além disso, o 0e0e conta com um suporte ao cliente eficiente, pronto para ajudar em qualquer questão que possa surgir durante a jornada do jogador. A equipe de suporte está disponível 24 horas por dia, 7 dias por semana, oferecendo um atendimento rápido e amigável.

Para tornar a experiência ainda mais imersiva, o 0e0e disponibiliza uma série de promoções e bônus especiais para seus usuários. Estes benefícios são pensados para aumentar a diversão e proporcionar mais oportunidades de ganhar, criando um ambiente onde os jogadores podem aproveitar ao máximo cada momento.

A plataforma também oferece métodos de pagamento rápidos e seguros, garantindo que os depósitos e retiradas sejam realizados de maneira tranquila, sem qualquer complicação. A segurança dos dados do usuário é uma prioridade para o 0e0e, que utiliza tecnologia de ponta para proteger todas as informações pessoais e financeiras.

Conclusão: O 0e0e Como a Escolha Certa para os Jogadores O 0e0e é muito mais do que uma plataforma de jogos; é um espaço onde diversão, emoção e segurança se encontram. Com uma interface amigável, uma vasta seleção de jogos e um suporte ao cliente dedicado, o 0e0e oferece tudo o que um jogador precisa para se divertir e viver novas experiências. Seja você um iniciante ou um veterano, o 0e0e tem tudo para tornar sua jornada ainda mais emocionante e recompensadora. Não perca a chance de explorar tudo o que essa plataforma incrível tem a oferecer!

@ c631e267:c2b78d3e

Wir werden nicht zulassen, dass technisch manches möglich ist, \ aber der Staat es nicht nutzt. \ Angela Merkel

Die Modalverben zu erklären, ist im Deutschunterricht manchmal nicht ganz einfach. Nicht alle Fremdsprachen unterscheiden zum Beispiel bei der Frage nach einer Möglichkeit gleichermaßen zwischen «können» im Sinne von «die Gelegenheit, Kenntnis oder Fähigkeit haben» und «dürfen» als «die Erlaubnis oder Berechtigung haben». Das spanische Wort «poder» etwa steht für beides.

Ebenso ist vielen Schülern auf den ersten Blick nicht recht klar, dass das logische Gegenteil von «müssen» nicht unbedingt «nicht müssen» ist, sondern vielmehr «nicht dürfen». An den Verkehrsschildern lässt sich so etwas meistens recht gut erklären: Manchmal muss man abbiegen, aber manchmal darf man eben nicht.

Dieses Beispiel soll ein wenig die Verwirrungstaktik veranschaulichen, die in der Politik gerne verwendet wird, um unpopuläre oder restriktive Maßnahmen Stück für Stück einzuführen. Zuerst ist etwas einfach innovativ und bringt viele Vorteile. Vor allem ist es freiwillig, jeder kann selber entscheiden, niemand muss mitmachen. Später kann man zunehmend weniger Alternativen wählen, weil sie verschwinden, und irgendwann verwandelt sich alles andere in «nicht dürfen» – die Maßnahme ist obligatorisch.

Um die Durchsetzung derartiger Initiativen strategisch zu unterstützen und nett zu verpacken, gibt es Lobbyisten, gerne auch NGOs genannt. Dass das «NG» am Anfang dieser Abkürzung übersetzt «Nicht-Regierungs-» bedeutet, ist ein Anachronismus. Das war vielleicht früher einmal so, heute ist eher das Gegenteil gemeint.

In unserer modernen Zeit wird enorm viel Lobbyarbeit für die Digitalisierung praktisch sämtlicher Lebensbereiche aufgewendet. Was das auf dem Sektor der Mobilität bedeuten kann, haben wir diese Woche anhand aktueller Entwicklungen in Spanien beleuchtet. Begründet teilweise mit Vorgaben der Europäischen Union arbeitet man dort fleißig an einer «neuen Mobilität», basierend auf «intelligenter» technologischer Infrastruktur. Derartige Anwandlungen wurden auch schon als «Technofeudalismus» angeprangert.

Nationale Zugangspunkte für Mobilitätsdaten im Sinne der EU gibt es nicht nur in allen Mitgliedsländern, sondern auch in der Schweiz und in Großbritannien. Das Vereinigte Königreich beteiligt sich darüber hinaus an anderen EU-Projekten für digitale Überwachungs- und Kontrollmaßnahmen, wie dem biometrischen Identifizierungssystem für «nachhaltigen Verkehr und Tourismus».

Natürlich marschiert auch Deutschland stracks und euphorisch in Richtung digitaler Zukunft. Ohne vernetzte Mobilität und einen «verlässlichen Zugang zu Daten, einschließlich Echtzeitdaten» komme man in der Verkehrsplanung und -steuerung nicht aus, erklärt die Regierung. Der Interessenverband der IT-Dienstleister Bitkom will «die digitale Transformation der deutschen Wirtschaft und Verwaltung vorantreiben». Dazu bewirbt er unter anderem die Konzepte Smart City, Smart Region und Smart Country und behauptet, deutsche Großstädte «setzen bei Mobilität voll auf Digitalisierung».

Es steht zu befürchten, dass das umfassende Sammeln, Verarbeiten und Vernetzen von Daten, das angeblich die Menschen unterstützen soll (und theoretisch ja auch könnte), eher dazu benutzt wird, sie zu kontrollieren und zu manipulieren. Je elektrischer und digitaler unsere Umgebung wird, desto größer sind diese Möglichkeiten. Im Ergebnis könnten solche Prozesse den Bürger nicht nur einschränken oder überflüssig machen, sondern in mancherlei Hinsicht regelrecht abschalten. Eine gesunde Skepsis ist also geboten.

[Titelbild: Pixabay]

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Dieser Beitrag wurde mit dem Pareto-Client geschrieben. Er ist zuerst auf Transition News erschienen.

@ 15f9e159:ca9a5ac4

A 55kd é uma plataforma inovadora no cenário de jogos online, criada para oferecer aos jogadores uma experiência única e envolvente. Se você está procurando por uma maneira divertida de passar o tempo, explorar novos jogos e viver grandes emoções, a 55kd pode ser o lugar ideal. Neste artigo, vamos explorar como a 55kd se destaca, desde sua introdução até a experiência dos jogadores e a vasta gama de jogos disponíveis.

Introdução à Plataforma 55kd A 55kd surgiu com a missão de revolucionar o mundo dos jogos online, oferecendo uma plataforma fácil de navegar, segura e repleta de opções de entretenimento. Com um design moderno e uma interface amigável, a plataforma foi desenvolvida para atender tanto jogadores iniciantes quanto veteranos, garantindo que todos se sintam confortáveis e imersos na experiência.

A 55kd prioriza a acessibilidade e a praticidade, permitindo que os jogadores acessem os jogos de forma rápida e sem complicações. Com um sistema eficiente de registro e uma plataforma intuitiva, novos usuários podem se cadastrar e começar a jogar rapidamente, sem a necessidade de processos complexos.

Variedade de Jogos na 55kd A plataforma 55kdse destaca pela grande variedade de jogos que oferece aos seus usuários. Desde opções de estratégia até os jogos mais emocionantes de sorte e habilidade, há algo para todos os gostos. A cada visita, os jogadores podem esperar novas e emocionantes opções para explorar.

Entre os jogos mais populares, destacam-se as opções de jogos de mesa, slots de vídeo e jogos de habilidade. Cada jogo foi cuidadosamente selecionado e desenvolvido para garantir uma experiência de alta qualidade, com gráficos impressionantes, jogabilidade fluida e recursos inovadores.

Os jogos de mesa, por exemplo, oferecem desafios para aqueles que preferem jogos de raciocínio e estratégia. Já os slots de vídeo são ideais para quem busca emoção e diversão instantânea, com uma ampla gama de temas e bônus que aumentam a adrenalina.

Além disso, a 55kd também oferece jogos de habilidade, permitindo que os jogadores mostrem sua destreza e competência. Esses jogos são perfeitos para aqueles que gostam de testar suas habilidades e estratégias, competindo com outros jogadores por grandes prêmios.

A Experiência do Jogador na 55kd Uma das maiores preocupações da 55kd é garantir que seus jogadores tenham uma experiência de jogo impecável. A plataforma investe constantemente em melhorias para proporcionar um ambiente seguro, rápido e transparente. A segurança é uma prioridade, e a plataforma utiliza tecnologias de ponta para proteger as informações dos usuários, além de garantir transações rápidas e seguras.

A 55kd também se destaca pelo seu suporte ao cliente. Se os jogadores tiverem dúvidas ou enfrentarem problemas durante o jogo, uma equipe de suporte altamente treinada está disponível para oferecer assistência imediata. O suporte é acessível por vários canais, como chat ao vivo e e-mail, garantindo que os jogadores se sintam sempre amparados.

Além disso, a plataforma oferece um sistema de bônus e promoções que torna a experiência ainda mais emocionante. Oferecendo prêmios, ofertas exclusivas e recompensas constantes, a 55kd mantém os jogadores motivados e engajados, proporcionando uma sensação contínua de novidade e prazer.

Conclusão A 55kd se destaca como uma plataforma completa e de alta qualidade, que oferece não apenas uma ampla gama de jogos, mas também uma experiência personalizada para cada jogador. Com uma interface intuitiva, jogos diversificados e um suporte excepcional, a 55kd é a escolha ideal para quem busca diversão e entretenimento de qualidade.

Se você ainda não experimentou a 55kd, está na hora de se juntar a essa comunidade vibrante e explorar tudo o que ela tem a oferecer. Prepare-se para uma jornada inesquecível de diversão, desafios e grandes vitórias.

@ bc575705:dba3ed39

In our hyper-connected age, the concept of "Know Your Customer" (KYC) has morphed from a regulatory necessity into a pervasive surveillance apparatus, subtly eroding our fundamental liberties. While purported to combat financial crime, KYC has become a tool for mass surveillance, data exploitation, and the gradual dismantling of personal privacy. Let’s embark on a comprehensive exploration of this system, exposing its inherent flaws and advocating for a paradigm shift towards decentralized financial sovereignty.

Beyond the Surface: The Intricate Web of KYC Data Collection

KYC transcends mere identity verification; it's a deep dive into the minutiae of our lives. Consider the breadth and depth of data extracted:

Geographic Surveillance: Proof of address requirements delve into historical residency, creating granular maps of our movements. Combined with location data from mobile devices and online activity, this paints a comprehensive picture of our physical presence.

Financial Autopsy: KYC dissects our financial lives with surgical precision. Income sources, asset declarations, and transaction histories are meticulously cataloged. Algorithmic analysis reveals spending habits, investment strategies, and even potential political affiliations.

Behavioral Predictive Modeling: AI algorithms analyze our financial behavior, predicting future actions and preferences. This data is invaluable for targeted advertising, but also for social engineering and political manipulation.

Biometric Invasiveness: Facial recognition, iris scans, and voice analysis create permanent, immutable records of our physical selves. These biometrics are highly sensitive and vulnerable to breaches, potentially leading to identity theft and even physical harm.

Social Network Mapping: KYC extends beyond individuals, mapping our social and professional networks. Institutions analyze our connections, identifying potential risks based on our associations. This has a chilling effect on free association and dissent, as individuals become hesitant to associate with those deemed "risky."

Psychometric Profiling: With the increase of online tests, and the collection of online data, companies and states can build psychometric profiles. These profiles can be used to predict actions, and even manipulate populations.

The Fallacy of Security: KYC's Ineffectiveness and the Rise of the Surveillance State

Despite its claims, KYC fails to effectively combat sophisticated financial crime. Instead, it creates a system of mass surveillance that disproportionately targets law-abiding citizens.

The Scourge of False Positives: Automated KYC systems frequently generate false positives, flagging innocent individuals as potential criminals. This can lead to financial exclusion, reputational damage, and even legal persecution.

A Ticking Time Bomb: Centralized KYC databases are prime targets for hackers, putting vast amounts of sensitive personal information at risk. Data breaches can lead to identity theft, financial fraud, and even physical harm.

The State's Panopticon: KYC empowers governments to monitor the financial activities of their citizens, creating a powerful tool for surveillance and control. This can be used to suppress dissent, target political opponents, and enforce conformity.

The Criminals Advantage: Sophisticated criminals easily bypass KYC using shell companies, money laundering, and other techniques. This makes KYC a system that punishes the innocent, and gives the criminals a false sense of security for the data collected.

Decentralized Alternatives: Reclaiming Financial Sovereignty and Privacy

In the face of this encroaching surveillance state, decentralized technologies offer a path to financial freedom and privacy.

Cryptocurrency | A Bastion of Financial Freedom: Bitcoin and other cryptocurrencies provide censorship-resistant alternatives to traditional financial systems. They empower individuals to transact freely, without the need for intermediaries or government oversight.

Decentralized Finance (DeFi) | Democratizing Finance: DeFi platforms offer a range of financial services, including lending, borrowing, and trading, without the need for traditional banks. These platforms are built on blockchain technology, ensuring transparency, security, and accessibility.

Self-Sovereign Identity (SSI) | Empowering Individuals: SSI solutions enable individuals to control their own digital identities, without relying on centralized authorities. This allows for secure and private verification of identity, without the need to share sensitive personal information with every service provider.

Privacy-Enhancing Technologies (PETs) | Shielding Your Data: Technologies like zero-knowledge proofs, homomorphic encryption, and secure multi-party computation can be used to protect personal data while still allowing for necessary verification.

Decentralized Autonomous Organizations (DAOs) | Creating new forms of governance: DAOs provide new ways for groups to organize, and make decisions. They provide a transparent way to pool resources, and make decisions.

A Call to Action: Defending Our Digital Rights and Building a Decentralized Future

We cannot passively accept the erosion of our fundamental freedoms. We must actively defend our digital rights and demand a more just and equitable financial system.

Advocate for Robust Privacy Laws: Demand stronger regulations that limit the collection and use of personal data.

Champion Decentralized Technologies: Support the development and adoption of cryptocurrencies, DeFi platforms, and other decentralized solutions.

Educate and Empower: Raise awareness about the dangers of KYC and state surveillance.

Cultivate Critical Thinking: Question the narratives presented by governments and corporations.

Build Decentralized Communities: Join and support decentralized communities that are working to build a more free and open financial system.

Demand transparency from all data collection: Insist that all data collection is open, and that there are strong penalties for those that misuse data.

The fight for financial freedom is a fight for human freedom. Let us stand together and reclaim our digital sovereignty.

@ d34e832d:383f78d0

Micro with its operands and keybindings.

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Micro is a modern, user-friendly text editor designed for the terminal. It offers extensive features, including mouse support, multiple cursors, syntax highlighting, and an intuitive command bar.

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1. Command Bar

• Open it with Ctrl-e
• Supports shell-like argument parsing (single/double quotes, escaping)
• No environment variable expansion

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2. Commands Overview

Commands are entered using Ctrl-e followed by the command.

File Management

• save ['filename'] → Save the current buffer (or "Save As" if a filename is given)
• quit → Exit Micro
• open 'filename' → Open a file
• reopen → Reload the current file from disk
• pwd → Print the current working directory
• cd 'path' → Change the working directory

Navigation

• goto 'line[:col]' → Move to an absolute line and column
• jump 'line[:col]' → Move relative to the current line

Editing

• replace 'search' 'value' ['flags'] → Replace text
• -a → Replace all occurrences
• -l → Literal search (no regex)
• replaceall 'search' 'value' → Replace all without confirmation
• textfilter 'sh-command' → Pipe selected text through a shell command and replace it

Splitting and Tabs

• vsplit ['filename'] → Open a vertical split
• hsplit ['filename'] → Open a horizontal split
• tab ['filename'] → Open a file in a new tab
• tabswitch 'tab' → Switch between tabs
• tabmove '[-+]n' → Move tab position

Configuration

• set 'option' 'value' → Set a global option
• setlocal 'option' 'value' → Set an option for the current buffer
• show 'option' → Show the current value of an option
• reset 'option' → Reset an option to its default

Plugins

• plugin list → List installed plugins
• plugin install 'pl' → Install a plugin
• plugin remove 'pl' → Remove a plugin
• plugin update ['pl'] → Update a plugin
• plugin search 'pl' → Search for plugins

Miscellaneous

• run 'sh-command' → Run a shell command in the background
• log → View debug messages
• reload → Reload all runtime files (settings, keybindings, syntax files, etc.)
• raw → Debug terminal escape sequences
• showkey 'key' → Show what action is bound to a key
• term ['exec'] → Open a terminal emulator running a specific command
• lint → Lint the current file
• comment → Toggle comments on a selected line or block

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3. Keybindings Overview

| Action | Keybinding | |------------------|--------------| | Navigation | | | Move cursor left | ← or h | | Move cursor right | → or l | | Move cursor up | ↑ or k | | Move cursor down | ↓ or j | | Move to start of line | Home | | Move to end of line | End | | Move to start of file | Ctrl-Home | | Move to end of file | Ctrl-End | | Move by word left | Ctrl-← or Ctrl-b | | Move by word right | Ctrl-→ or Ctrl-f | | Editing | | | Copy | Ctrl-c | | Cut | Ctrl-x | | Paste | Ctrl-v | | Undo | Ctrl-z | | Redo | Ctrl-Shift-z | | Delete word left | Ctrl-Backspace | | Delete word right | Ctrl-Delete | | Splitting & Tabs | | | Open horizontal split | Ctrl-w h | | Open vertical split | Ctrl-w v | | Switch tab left | Alt-← | | Switch tab right | Alt-→ |

For more, check the official keybindings:
🔗 Micro Keybindings 🔗Available Here

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Final Thoughts

Micro is a powerful text editor for terminal users who want an alternative to Vim or Nano. With an intuitive command bar, extensive customization options, and full plugin support, it offers a lightweight yet feature-rich editing experience. 🚀

@ 9c9d2765:16f8c2c2

CHAPTER TWENTY FOUR

Back at JP Towers, James had already anticipated the move. He had cameras and witness accounts from the anniversary event, stored securely in multiple locations. He knew the public had a short memory but a long hunger for drama. One misstep could tilt public sentiment.

But James was no longer playing to survive.

He was playing to reign.

Later that night, he stood before a mirror, adjusting the cuffs of his suit. In his reflection, he saw more than his own face; he saw the faces of those who had mocked, betrayed, and underestimated him. And he saw the legacy he was building not just for himself, but for those who once believed justice was a myth.

He whispered to the reflection, “Let them come. Let them burn what’s left of their dignity. I’ll rise through the smoke again. Because I always do.”

Outside, the wind howled like a prophecy through the high-rises.

The days that followed carried a subtle tension that coiled around the city's heartbeat. JP Enterprises thrived outwardly, stock prices climbed, investor confidence surged, and the company continued to solidify its dominion over the corporate landscape. But beneath the facade of calm and progress, a tempest brewed in silence.

James, the man once ridiculed and ostracized, now sat at the summit of power, yet his enemies, battered but unbroken, plotted from the shadows.

In an undisclosed meeting room within the Executive Wing, James convened with his most trusted circle Charles, Rita, and Sandra. The room was dimly lit, the atmosphere sober, with every eye locked onto the digital presentation being displayed.

On the screen were surveillance stills, financial records, and intercepted messages.

Rita, ever composed, began, “We’ve confirmed that Helen and Mark are using a shell media outlet in a nearby province to rewrite the narrative surrounding the anniversary incident. They’re laundering stories through third-party publications to make it appear as if you orchestrated the bribery and the public drama.”

Sandra added, her voice laced with concern, “The young woman from the event she’s set to appear in a televised interview in two days. The preview clips suggest she’ll claim coercion, manipulation… that you paid her to falsely accuse Mark and Helen.”

Charles sat back in his chair, folding his arms. “It’s a desperate move,” he muttered, “but one that could sway public opinion if left unchecked.”

James didn’t flinch. His gaze was cold and calculated. “Let them speak,” he said. “Let her appear on screen, let the nation watch but when the time is right, we’ll release the real footage. Every confession, every whispered transaction, every threat they issued. And when we do, it won’t just be public opinion they lose, it'll be their freedom.”

The room fell silent. The weight of the plan was immense. James wasn’t simply fighting a smear campaign he was orchestrating the downfall of those who had haunted his past and jeopardized his future.

Across town, in a luxurious yet shadowy apartment, Helen paced furiously. Mark sat slouched on the couch, phone in hand, monitoring the latest headlines.

“She hasn’t confirmed the script yet,” Mark grumbled, referring to the woman they’d bribed. “She’s stalling. You think she’s flipping again?”

“She better not,” Helen spat. “We gave her a second chance, more money, more protection. If she dares cross us again...”

“Then we make her disappear,” Mark said coldly.

Helen paused. “Or we pin everything on her. Let her take the fall.”

Their desperation bled into their decisions. The empire they tried to build with lies and manipulation was already on unstable ground. They didn’t realize James wasn’t just steps ahead. Two days later, as the nation sat glued to their screens, the controversial interview aired. The woman, visibly tense, spoke her lines.

“Yes… he promised to protect me… he told me to say Mark and Helen bribed me… I was scared of what he might do if I didn’t cooperate…”

The hosts gasped, commentators argued, and the news cycle erupted.

For an hour, James’s name trended for all the wrong reasons.

And then the storm came.

JP Enterprises’ official communication channels released a statement followed by a seven-minute clip, unedited, raw, and crystal clear. It captured everything: the lady kneeling, pointing to Mark and Helen, the whispered confessions, the crowd’s reaction, Helen’s furious outburst. And, most damning of all, a covert recording of Helen threatening the woman in a private meeting.

The tide turned instantly.

Social media exploded not with outrage toward James, but with condemnation of the real culprits. Hashtags flipped. Influencers, journalists, and even rival corporations came to James’s defense. The woman fled the city within hours. Mark and Helen, now disgraced, faced not just the wrath of public judgment, but the immediate interest of law enforcement.

Back at the JP tower, James watched it all unfold. The screen reflected in his eyes as headlines changed: “President Vindicated,” “Corporate Sabotage Exposed,” “Justice Prevails in High-Stakes Feud.”

Charles walked in slowly, a faint smile on his lips. “It’s done.”

James nodded, his voice a calm murmur. “No. It’s only the beginning. I haven’t just protected my name, I've carved a legacy.”

He stood up, walking toward the window where the city stretched out beneath him, unaware of how close it had come to being ruled by lies.

Behind him, the quiet echo of Charles’s voice lingered: “Your enemies are falling, one by one.”

@ 75869cfa:76819987

GM, Nostriches!

The Nostr Review is a biweekly newsletter focused on Nostr statistics, protocol updates, exciting programs, the long-form content ecosystem, and key events happening in the Nostr-verse. If you’re interested, join me in covering updates from the Nostr ecosystem!

Quick review:

In the past two weeks, Nostr statistics indicate over 216,000 daily trusted pubkey events. The number of new users has seen a notable decrease, Profiles with contact lists and pubkeys writing events were both representing a 70% decline. More than 7 million events have been published, reflecting a 24% decrease. Total Zap activity stands at approximately 16 million, marking a 20% increase.

Additionally, 14 pull requests were submitted to the Nostr protocol, with 6 merged. A total of 45 Nostr projects were tracked, with 7 releasing product updates, and over 378 long-form articles were published, 24% focusing on Bitcoin and Nostr. During this period, 9 notable events took place, and 3 significant events are upcoming.

Nostr Statistics

Based on user activity, the total daily trusted pubkeys writing events is about 216,000, representing a slight 2 % decrease compared to the previous period. Daily activity peaked at 17483 events, with a low of approximately 15499.

The number of new users has decreased significantly.Profiles with contact lists and pubkeys writing events were 26,132 and 59,403 respectively, both representing a decline of approximately 70% compared to the previous period.

The total number of note events published is around 7 million, reflecting a 24% decrease.Posts remain the most dominant category by volume, totaling approximately 1.7 million, representing a 4% decrease compared to the previous period.Reposts, however, saw a significant increase, rising by 33% compared to the same period.

For zap activity, the total zap amount is about 16 million, showing an decrease of over 20% compared to the previous period.

Data source: https://stats.nostr.band/

NIPs

Allow multi-user AUTH #1881 vitorpamplona is proposing a PR that reuses one connection for everyone by accepting multi-user logins on the relay side. Additionally, this PR standardizes how relays should handle multiple AUTH messages from the client, instead of leaving it as undefined behavior. Currently, most relays override the previous AUTH, which means developers can rotate the authenticated user within the same connection. Some relays only accept the first AUTH and ignore the rest. A few newer relays already support multi-user logins as described in this PR, which he believes is the correct way to implement NIP-42 AUTH. The purpose of this PR is to formalize that behavior.

Adds optional nip60.signSecret() and kind 10019 filter tag #1890 robwoodgate is proposing a PR that clarifies and improves Nostr <---> Cashu interoperability as follows:Adds an optional signer signature for NUT-10 well-known secrets to NIP-60, NIP-07 and NIP-46；Clarifies use of Nostr <---> Cashu public keys in NIP-61；Adds an optional reverse lookup filter tag to NIP-61 kind 10019 events.

Notable Projects

​​Coracle 0.6.10 nostr:npub13myx4j0pp9uenpjjq68wdvqzywuwxfj64welu28mdvaku222mjtqzqv3qk

Coracle 0.6.10 release is out on the web and zapstore! This is another maintenance release, including a complete rewrite of the networking code (coming soon to flotilla), and several bug fixes. * Fix spotify url parsing bug * Fix nip46 signer connect * Use new version of network library * Fix reply drafts bug * Fix creating a new account while logged in * Re-work storage adapter to minimize storage and improve performance * Improve initial page load times * Fix followers page * Upgrade welshman * Remove platform relay * Show PoW * Don't fetch messages until decryption is enabled

Damus v1.14 nostr:npub18m76awca3y37hkvuneavuw6pjj4525fw90necxmadrvjg0sdy6qsngq955

A new TestFlight release is here for Purple users to try! * ️Setup a wallet lightning fast with our new one-click wallet setup, powered by Coinos! * New revamped wallet experience with balance and transactions view for your NWC wallet — see how much you got zapped without even leaving the app! * New notification setting to hide hellthreads. ie. Achieve notification peace. * NIP-65 relay list support — more compatibility across Nostr apps! * Unicode 16 emoji reactions (only for iOS 18.4+) - even more options to express your reactions! * Blurred images now show some more information — no more wondering why images are occasionally blurred. * More bugs fixed, and general robustness improvements.

0xchat v1.4.9 nostr:npub1tm99pgz2lth724jeld6gzz6zv48zy6xp4n9xu5uqrwvx9km54qaqkkxn72

What's new: * Implemented updated NIP-29 group logic with support for group admin roles * Added support for Aegis URL scheme login on iOS

YakiHonne nostr:npub1yzvxlwp7wawed5vgefwfmugvumtp8c8t0etk3g8sky4n0ndvyxesnxrf8q

🌐web v4.6.0: * Introducing Smart Widgets v2 – now dynamic and programmable. Learn more at https://yakihonne.com/docs/sw/intro * New Tools Smart Widgets section in note creation for advanced content editing. * Curations, videos, and polls are now Tools Smart Widgets, enabling quick creation and seamless embedding in notes. * Zap advertisements added—top zappers can now appear below notes. * Note translation button has been relocated next to the note options for easier access. * Followers and following lists are now visible directly on the dashboard home page. * General improvements and bug fixes for a smoother experience.

📱mobile v1.7.0: * Introducing the fully upgraded smart widget with its expanded set of functionalities. * A set of tools to enhance content editing. * Curations, videos, and polls are now Tools Smart Widgets, enabling quick creation and seamless embedding in notes. * Shortened URLs for a better user experience. * Highest zappers in notes will be highlighted. * Zapper list now includes zaps messages. * Videos and curations are no longer visible in the app. * Gossip models can be enabled and disabled. * Fixed multiple bugs for a more stable and seamless app experience. * Enhanced overall performance, usability, and design across the app.

Nostur v1.20 nostr:npub1n0stur7q092gyverzc2wfc00e8egkrdnnqq3alhv7p072u89m5es5mk6h0

New in this version: * Added support for Lists (kind 30000) * Show preview of feed from list * Turn list into feed tab with 1 tap * Subscribe toggle to keep updating the feed from original maintainer, or keep list as-is * Share List: Toggle to make list public * Lists tab on Profile view * 'Add all contacts to feed/list' post menu item * Discover tab now shows Lists shared by your follows * Enable manual ordering of custom feeds / tabs * New Top Zapped feed * New onboarding screens * New default color scheme / adjusted backgrounds * Lower delays and timeouts for fetching things * Improved hellthread handling * Support for comment on highlights (kind 9802) * Toggle to post to restricted/locked relay when starting post from single relay feed * Support relay auth for bunker/remote signer accounts * Zoom for previous profile pictures * Improved Relay Autopilot / Outbox when loading a single profile, always try to find 2 additional relays not in already used relay set * Improved support for accounts with large follow lists * Keep things longer in cache on desktop version * Improved support for pasting animated gifs * Use floating mini video player also on iPad and Desktop * Many performance improvements and bugfixes

Zapstore 0.2.6 nostr:npub10r8xl2njyepcw2zwv3a6dyufj4e4ajx86hz6v4ehu4gnpupxxp7stjt2p8

• Fixes for stale data, apps should now show their latest versions
• Upgrade to nostr:npub1kpt95rv4q3mcz8e4lamwtxq7men6jprf49l7asfac9lnv2gda0lqdknhmz DVM format
• New Developer screen (basic for now, delete local cache if apps are missing!)

ZEUS v0.11.0 nostr:npub1xnf02f60r9v0e5kty33a404dm79zr7z2eepyrk5gsq3m7pwvsz2sazlpr5

ZEUS v0.11.0-alpha 2 with Cashu support is now available for testing. In this build: * Fix: addresses an issue where some Cashu wallets would crash when redeeming their first token. If you were affected by this bug, try removing the mint in question and re-adding it with the 'Existing funds' toggle enabled. FUNDS ARE SAFU! * Feat: Core Lightning: show closed channels list * Locale updates

Long-Form Content Eco

In the past two weeks, more than 378 long-form articles have been published, including over 57 articles on Bitcoin and more than 32 related to Nostr, accounting for 24% of the total content.

These articles about Nostr mainly explore the protocol’s steady evolution toward simplicity, decentralization, and practical usability. There is a clear call within the community to strip away unnecessary complexity and return to Nostr’s minimalist roots, emphasizing lightweight structures and user autonomy. At the same time, a wave of innovation is expanding Nostr’s possibilities—new marketplaces, interoperable bridges with other protocols, and creative tools for publishing, identity, and social interaction are emerging rapidly. The articles also reflect a growing focus on censorship resistance, advocating for more diverse and independent relay networks, encrypted communications between relays, and broader user control over data and publishing. Practical guides and firsthand user experiences reveal both the excitement and the challenges of building within an open, permissionless ecosystem.

These articles about Bitcoin depict the evolution and expansion of the Bitcoin ecosystem from various perspectives. On the technical front, they focus on the iteration of Bitcoin Core versions, innovations in secure storage methods, advancements in multisignature solutions and post-quantum cryptography, as well as the ongoing optimization of payment tools like the Lightning Network, highlighting Bitcoin's continuous progress in enhancing asset security and transaction efficiency. At the same time, through real-life stories and personal experiences, many articles illustrate Bitcoin's practical role in individuals' lives, showing how it helps people achieve financial autonomy, build resilience, and transform their lifestyles in times of turmoil. From a financial perspective, the articles delve into Bitcoin’s unique value as digital gold and an inflation hedge, and its function as a safe haven and transformative force in emerging economies and shifting trade environments.

Thank you, nostr:npub1jp3776ujdul56rfkkrv8rxxgrslqr07rz83xpmz3ndl74lg7ngys320eg2 nostr:npub1xzuej94pvqzwy0ynemeq6phct96wjpplaz9urd7y2q8ck0xxu0lqartaqn nostr:npub1qd6zcgzukmydscp3eyauf2dn6xzgfsevsetrls8zrzgs5t0e4fws7re0mj nostr:npub12q4tq25nvkp52sluql37yr5qn059qf3kpeaa26u0nmd7ag5xqwtscduvuh nostr:npub1t49ker2fyy2xc5y7qrsfxrp6g8evsxluqmaq09xt7uuhhzsurm3srw4jj5 nostr:npub1p7dep69xdstul0v066gcheg2ue9hg2u3pngn2p625auyuj57jkjscpn02q nostr:npub1l0cwgdrjrxsdpu6yhzkp7zcvk2zqxl20hz8mq84tlguf9cd7dgusrmk3ty nostr:npub1fn4afafnasdqcm7hnxtn26s2ye3v3g2h2xave7tcce6s7zkra52sh7yg99 npub1jh95xvxnqdqj5ljh3vahh7s7s0pv9mj9sfrkdnx4xgead9kmwpkq2e0fqm，npub1qn4ylq6s79tz4gwkphq8q4sltwurs6s36xsq2u8aw3qd5ggwzufsw3s3yz，npub1penlq56qnlvsr7v3wry24twn6jtyfw5vt6vce76yawrrajcafwfs0qmn5s，and others, for your work. Enriching Nostr’s long-form content ecosystem is crucial.

Nostriches Global Meet Ups

Recently, several Nostr events have been hosted in different countries. * Recently, YakiHonne collaborated with multiple communities and universities across Africa, such as nostr:npub1yp5maegtq53x536xcznk2hqzdtpgxg63hzhl2ya3u4nrtuasxaaqa52pzn nostr:npub1tk59m73xjqq7k3hz9hlwsvspu2xq7t9gg0qj86cgp4rrlqew5lpq5zq7qp nostr:npub1wjncl8k8z86qq2hwqqeufa4g9z35r5t5wquawxghnrs06z9ds8zsm49yg7 and more, to successfully host seven Nostr Workshops, attracting over 200 enthusiastic participants. The events not only provided a comprehensive introduction to the Nostr ecosystem and Bitcoin payments but also offered hands-on experiences with decentralized technologies through the YakiHonne platform.

• The second BOBSpace Nostr Month Meetup took place on Friday, April 25, 2025, at 6:30 PM in Bangkok. This special event featured nostr:npub18k67rww6547vdf74225x4p6hfm4zvhs8t8w7hp75fcrj0au7mzxs30202m the developer of Thailand’s home-grown Nostr client Wherostr, as the guest speaker. He shared his developer journey, the story behind building Wherostr, and how Nostr enables censorship-resistant communication. This was a Bitcoin-only meetup focused on the Nostr protocol and decentralized technologies.
• Panama Blockchain Week 2025 took place from April 22 to 24 at the Panama Convention Center in Panama City. As the first large-scale blockchain event in Central America, it aimed to position Panama as a leading blockchain financial hub in Latin America. The event featured a diverse lineup, including a blockchain conference, Investor’s Night, Web3 gaming experiences, tech exhibitions, and an after-party celebration.

Here is the upcoming Nostr event that you might want to check out. * Nostr & Poker Night will be held on April 30 at the Bitcoin Embassy in El Salvador. The event will feature an exciting Nostr-themed presentation by nostr:npub1dmnzphvk097ahcpecwfeml08xw8sg2cj4vux55m5xalqtzz9t78q6k3kv6 followed by a relaxed and fun poker night. Notably, 25% of the poker tournament prize will be donated to support MyfirstBitcoin’s Bitcoin education initiatives. * A free webinar on venture capital, Bitcoin, and cryptocurrencies will be held online on May 6 at 12:00 PM (ARG time). Organized in collaboration with Draper Cygnus, the event aims to introduce the fundamentals of venture capital, present the projects of ONG Bitcoin Argentina Academy, and provide attendees with the opportunity to interact with the guest speakers. * Bitcoin Unveiled: Demystifying Freedom Money will take place on May 10, 2025, at Almara Hub. The event will explore Bitcoin’s transformative potential, helping participants understand its purpose, learn how to get started, build a career in the Bitcoin space, and begin their Bitcoin savings journey. Featured speakers include nostr:npub1sn0q3zptdcm8qh8ktyhwtrnr9htwpykav8qnryhusr9mcr9ustxqe4tr2x Theophilus Isah, nostr:npub1s7xkezkzlfvya6ce6cuhzwswtxqm787pwddk2395pt9va4ulzjjszuz67p , and Megasley.

Additionally, We warmly invite event organizers who have held recent activities to reach out to us so we can work together to promote the prosperity and development of the Nostr ecosystem.

Thanks for reading! If there’s anything I missed, feel free to reach out and help improve the completeness and accuracy of my coverage.

@ 472f440f:5669301e

Last night I had the pleasure of sitting down with Caitlin Long, Founder and CEO of Custodia - a fully reserved bank providing banking services to bitcoin companies, to discuss an affidavit written by Elaine Hetrick of Silvergate Bank. Elaine is the Chief Administrative Officer of Silvergate and wrote an affidavit, a sworn testimony subject to perjury, in which she detailed the events that led to Silvergate voluntarily winding down their business and returning deposits to their customers.

This affidavit is a bombshell because it confirms speculation that Silvergate was solvent in early 2023 and wasn't shut down because of bad risk management on behalf of the bank's management team, but instead was forced to shutter its doors because the Biden Administration, with strong influence from Senator Elizabeth Warren, forced Silvergate's hand because they didn't like that they were banking digital asset companies.

For those who are a bit fuzzy on the details of the narratives that were flying around Silvergate at the time, I'll jog your memory. FTX was a customer of Silvergate's at the time their Ponzi scheme unraveled. As FTX was blowing up, everyone and their mother was scrambling to get their money out of Silvergate because they assumed that since one of the bank's largest counterparties was going bust, the bank must be in trouble too. A sane decision. Especially considering the history of systemically non-important financial institutions this century.

Unless you were paying close attention during this time, you were likely under the impression that Silvergate was a typical fractionally reserved bank that was experiencing a run that led to its inevitable demise. The media made it seem this way. The regulators made it seem this way. And one pompous short seller made it seem this way. However, nothing could be further from the truth. Here are the most important parts of the affidavit:

Silvergate had stabilized, was able to make regulatory capital requirements, and had the capability to continue to serve its customers that had kept their deposits with Silvergate Bank.

Despite this, regulators decided to turn the pressure up and essentially gave Silvergate Bank, and Signature Bank as well, an ultimatum; drastically change your business models immediately by dropping your digital asset customer base or we'll shut you down. There were no hard numbers described in Elaine's testimony, but rumors are that the regulators wanted Silvergate to quickly shrink their exposure to digital asset-related clients to less than 15% of their capital base. At the time, Silvergate's customer base was made up almost entirely of digital asset companies (99.5% to be exact).

The regulators were asking Silvergate to do something that was quite literally impossible given the circumstances. Faced with an impossible task, on March 8th of 2023 Silvergate decided to voluntarily wind down their operations and return deposits back to their customers.

Let's be very clear here, Silvergate did not lose a single penny of customer deposits due to the run on their bank. Management, understanding the volatile nature of the digital asset markets, designed their risk management and capital allocation strategies in a way that would enable them to return dollars to any customer who requested them. And that's exactly what they did when customers came to request their money. They returned EVERY SINGLE PENNY.

This begs the question, "Why did they essentially force Silvergate to shut down?" They seemed to be running a very responsible operation after all. You'd think the regulators would applaud Silvergate's vigilance in risk management on behalf of their customer base. How many banks would have been able to do the same thing if put in the same situation? Probably not many.

The answer to this question is already well known throughout the industry, but Elaine Hetrick's testimony adds some hard evidence that makes it undeniable; Elizabeth Warren, the SEC, the FDIC and the Federal Reserve have been acting in concert to unconstitutionally and extrajudicially target the bitcoin and broader digital asset industry because they do not believe that it should exist. It is a threat to their power structure. The financial system, as it is designed today, gives those who would like to centrally plan the economy and micromanage the lives of American citizens a ton of power. Bitcoin is a threat to that power and they have to do everything in their power to prevent its proliferation.

The targeting of the industry was also confirmed by the aftermath of the NYDFS and FDIC uncharacteristically taking Signature Bank behind the woodshed in the evening of Sunday, March 20th, 2023, despite the fact that Barney Frank and others at the bank were convinced they could handle withdraws come market open the next day.

Signature Bank was ultimately sold to Flagstar Bank. However, they were forced to spin out their digital asset-related accounts before doing so.

This public signaling and sudden regulatory shift made clear that, at least as of the first quarter of 2023, the Federal Bank Regulatory Agencies would not tolerate banks with significant concentrations of digital asset customers, ultimately preventing Silvergate Bank from continuing its digital asset focused business model.

Pretty damning if you ask me. Also, very frustrating and most definitely illegal.

Elizabeth Warren and her gaggle of hall monitors across alphabet soup agencies and the Federal Reserve have been on one massive, unconstitutional, power trip for the last four years. They've besmirched bitcoin and those of us working hard to ensure that the United States of America leads the way forward as bitcoin adoption continues at every turn. Good people striving to make the world a better place.

No one is a better example of this than Alan Lane, the former CEO of Silvergate Bank. I consider Alan a friend and feel supremely confident when I say that he is one of the nicest and thoughtful people I have met in this industry. A man who followed his passion to bring legitimacy and much needed banking services to an industry that the incumbents refused to touch. And he did bring legitimacy. As I explained earlier, Alan and his team understood the volatile nature of the industry and built their firm in a way that took this volatility into account. Silvergate did not fail, they were forced to shut down by Elizabeth Warren and her acolytes at the regulatory agencies.

What's worse, Warren's vendetta against bitcoin and the digital asset industry incited the largest banking crisis this country had seen since 2008. Silvergate and Signature being taken behind the woodshed put everyone on their toes and bank runs started across the country. This led to the failure of First Republic, Silicon Valley Bank and a couple of smaller banks, forced the Fed to step in with their emergency BTFP program, and burdened taxpayers with $40B in FDIC costs that needed to be absorbed as a result. If it weren't for the bailouts things would have gotten completely out of control. All because Elizabeth Warren wants to live in a world in which we are forced to use CBDCs and unable to opt-in to bitcoin.

The euthanasia of Silvergate and Signature are only the tip of the iceberg when it comes to Chokepoint 2.0.

Caitlin Long and Custodia have been in a years long battle with the Federal Reserve to receive a Fed master account so that they can properly serve their customers. For those who are unaware, Custodia is a full-reserve bank that exist to serve bitcoin and digital asset businesses as well as other adjacent businesses like fintechs, banks and funds. Custodia is a chartered bank and special purpose depository institution that has built custody services so that customers can hold bitcoin within their bank accounts alongside their dollar accounts.

Like Silvergate and Signature, Custodia has been singled out and unlawfully denied a master account with the Fed because the Federal Reserve doesn't want a bank like Custodia to exist. Either because they worry about the ramifications of the introduction of a full-reserve bank into a system dominated by fractional-reserve banks or they simply do not want to see bitcoin succeed. If we're being honest, it's probably a combination of the two.

Despite what we, or anyone else, thinks about the potential effect a bank like Custodia could have on the market if it's granted a master account, the Fed's actions are unconstitutional in this case as well. This was made pretty clear (but yet to be determined by a court) in an amicus brief written by Paul Clement on behalf of Custodia earlier this Summer. The Fed is actively undermining the dual-banking system that was set up in this country to enable competition between state chartered banks and the Federal Reserve system.

In the case of Custodia, the Federal Reserve is exhibiting expansive discretionary power that it has never shown before. Custodia is a state chartered special purpose depository institution in the state of Wyoming. Historically, it would be trivial for this type of state chartered bank to get a master account with the Fed. But for whatever reason (we know the reason) the Fed has been denying Custodia their right to this account for a number of years. To the point where Custodia was forced to sue the Federal Reserve and take their case to the courts.

What's interesting about the saga of Custodia and the Fed is that it has forced Custodia's legal team to dig in and highlight where the Fed is overextending its reach and acting arbitrarily. In the amicus brief that was published in July of this year, Paul Clement argues that the way Federal Reserve Bank presidents are chosen is unconstitutional when you take into consideration the fact the these Fed branch presidents are unilaterally undermining state banking laws by denying master accounts.

If they are going to unilaterally undermine state banking laws they need to be appointed by the President or an official acting on behalf of the Executive Branch. Federal Reserve Bank presidents aren't appointed by the President of the United States or any official acting with the authority of the Executive Branch. Instead, they are appointed by their boards, which are controlled by the privately held commercial banks who own them. The Federal Reserve system is clearly acting unconstitutionally when they deny Custodia from being assigned a master account.

The people in power within the federal government and the Federal Reserve system are actively targeting the bitcoin and digital asset industry, acting extrajudicially and making a mockery of the rule of law in the United States. They are completely out of control and it is important that everyone who cares about the future of bitcoin in the United States and the future of the United States more broadly (even if you don't like bitcoin) speaks out and fights against these totalitarians as vehemently as possible. What they are doing is wrong. It's unconstitutional. And it is putting the future of our country at risk.

If the federal government, the regulators and the Federal Reserve do not get out of the way and let law abiding citizens build the businesses they want and associate with businesses they want, those businesses will go elsewhere and the United States will be set back generations as a result.

It's time to put these people in their place and let it be known that freedom will reign supreme in the Land of the Free. Fight!

Final thought... I promised Parker Lewis that I would do cross fit on Friday morning and I'm using today's final thought as an accountability tool.

@ aa8de34f:a6ffe696

19. März 2025

🔐 1. SHA-256 is Quantum-Resistant

Bitcoin’s proof-of-work mechanism relies on SHA-256, a hashing algorithm. Even with a powerful quantum computer, SHA-256 remains secure because:

• Quantum computers excel at factoring large numbers (Shor’s Algorithm).
• However, SHA-256 is a one-way function, meaning there's no known quantum algorithm that can efficiently reverse it.
• Grover’s Algorithm (which theoretically speeds up brute force attacks) would still require 2¹²⁸ operations to break SHA-256 – far beyond practical reach.

++++++++++++++++++++++++++++++++++++++++++++++++++

🔑 2. Public Key Vulnerability – But Only If You Reuse Addresses

Bitcoin uses Elliptic Curve Digital Signature Algorithm (ECDSA) to generate keys.

• A quantum computer could use Shor’s Algorithm to break SECP256K1, the curve Bitcoin uses.
• If you never reuse addresses, it is an additional security element
• 🔑 1. Bitcoin Addresses Are NOT Public Keys

Many people assume a Bitcoin address is the public key—this is wrong.

• When you receive Bitcoin, it is sent to a hashed public key (the Bitcoin address).
• The actual public key is never exposed because it is the Bitcoin Adress who addresses the Public Key which never reveals the creation of a public key by a spend
• Bitcoin uses Pay-to-Public-Key-Hash (P2PKH) or newer methods like Pay-to-Witness-Public-Key-Hash (P2WPKH), which add extra layers of security.

🕵️♂️ 2.1 The Public Key Never Appears

• When you send Bitcoin, your wallet creates a digital signature.
• This signature uses the private key to prove ownership.
• The Bitcoin address is revealed and creates the Public Key
• The public key remains hidden inside the Bitcoin script and Merkle tree.

This means: ✔ The public key is never exposed. ✔ Quantum attackers have nothing to target, attacking a Bitcoin Address is a zero value game.

+++++++++++++++++++++++++++++++++++++++++++++++++

🔄 3. Bitcoin Can Upgrade

Even if quantum computers eventually become a real threat:

• Bitcoin developers can upgrade to quantum-safe cryptography (e.g., lattice-based cryptography or post-quantum signatures like Dilithium).
• Bitcoin’s decentralized nature ensures a network-wide soft fork or hard fork could transition to quantum-resistant keys.

++++++++++++++++++++++++++++++++++++++++++++++++++

⏳ 4. The 10-Minute Block Rule as a Security Feature

• Bitcoin’s network operates on a 10-minute block interval, meaning:Even if an attacker had immense computational power (like a quantum computer), they could only attempt an attack every 10 minutes.Unlike traditional encryption, where a hacker could continuously brute-force keys, Bitcoin’s system resets the challenge with every new block.This limits the window of opportunity for quantum attacks.

---

🎯 5. Quantum Attack Needs to Solve a Block in Real-Time

• A quantum attacker must solve the cryptographic puzzle (Proof of Work) in under 10 minutes.
• The problem? Any slight error changes the hash completely, meaning:If the quantum computer makes a mistake (even 0.0001% probability), the entire attack fails.Quantum decoherence (loss of qubit stability) makes error correction a massive challenge.The computational cost of recovering from an incorrect hash is still incredibly high.

---

⚡ 6. Network Resilience – Even if a Block Is Hacked

• Even if a quantum computer somehow solved a block instantly:The network would quickly recognize and reject invalid transactions.Other miners would continue mining under normal cryptographic rules.51% Attack? The attacker would need to consistently beat the entire Bitcoin network, which is not sustainable.

---

🔄 7. The Logarithmic Difficulty Adjustment Neutralizes Threats

• Bitcoin adjusts mining difficulty every 2016 blocks (\~2 weeks).
• If quantum miners appeared and suddenly started solving blocks too quickly, the difficulty would adjust upward, making attacks significantly harder.
• This self-correcting mechanism ensures that even quantum computers wouldn't easily overpower the network.

---

🔥 Final Verdict: Quantum Computers Are Too Slow for Bitcoin

✔ The 10-minute rule limits attack frequency – quantum computers can’t keep up.

✔ Any slight miscalculation ruins the attack, resetting all progress.

✔ Bitcoin’s difficulty adjustment would react, neutralizing quantum advantages.

Even if quantum computers reach their theoretical potential, Bitcoin’s game theory and design make it incredibly resistant. 🚀

@ 3f770d65:7a745b24

At the recent Launch Music Festival and Conference in Lancaster, PA, featuring over 120 musicians across three days, I volunteered my time with Tunestr and Phantom Power Music's initiative to introduce artists to Bitcoin, Nostr, and the value-for-value model. Tunestr sponsored a stage, live-streaming 21 bands to platforms like Tunestr.io, Fountain.fm and other Nostr/Podcasting 2.0 apps and on-boarding as many others as possible at our conference booth. You may have seen me spamming about this over the last few days.

V4V Earnings

Day 1: 180,000 sats

Day 2: 300,000 sats

Day 3: Over 500,000 sats

Who?

Here are the artists that were on-boarded to Fountain and were live streaming on the Value-for-Value stage:

nostr:npub1cruu4z0hwg7n3r2k7262vx8jsmra3xpku85frl5fnfvrwz7rd7mq7e403w nostr:npub12xeh3n7w8700z4tpd6xlhlvg4vtg4pvpxd584ll5sva539tutc3q0tn3tz nostr:npub1rc80p4v60uzfhvdgxemhvcqnzdj7t59xujxdy0lcjxml3uwdezyqtrpe0j @npub16vxr4pc2ww3yaez9q4s53zkejjfd0djs9lfe55sjhnqkh nostr:npub10uspdzg4fl7md95mqnjszxx82ckdly8ezac0t3s06a0gsf4f3lys8ypeak nostr:npub1gnyzexr40qut0za2c4a0x27p4e3qc22wekhcw3uvdx8mwa3pen0s9z90wk nostr:npub13qrrw2h4z52m7jh0spefrwtysl4psfkfv6j4j672se5hkhvtyw7qu0almy nostr:npub1p0kuqxxw2mxczc90vcurvfq7ljuw2394kkqk6gqnn2cq0y9eq5nq87jtkk nostr:npub182kq0sdp7chm67uq58cf4vvl3lk37z8mm5k5067xe09fqqaaxjsqlcazej nostr:npub162hr8kd96vxlanvggl08hmyy37qsn8ehgj7za7squl83um56epnswkr399 nostr:npub17jzk5ex2rafres09c4dnn5mm00eejye6nrurnlla6yn22zcpl7vqg6vhvx nostr:npub176rnksulheuanfx8y8cr2mrth4lh33svvpztggjjm6j2pqw6m56sq7s9vz nostr:npub1akv7t7xpalhsc4nseljs0c886jzuhq8u42qdcwvu972f3mme9tjsgp5xxk nostr:npub18x0gv872489lrczp9d9m4hx59r754x7p9rg2jkgvt7ul3kuqewtqsssn24

Many more musicians were on-boarded to Fountain, however, we were unable to obtain all of their npubs.

THANK YOU TO ALL ZAPPERS AND BOOSTERS!

Musicians “Get It”

My key takeaway was the musicians' absolute understanding that the current digital landscape along with legacy social media is failing them. Every artist I spoke with recognized how algorithms hinder fan connection and how gatekeepers prevent fair compensation for their work. They all use Spotify, but they only do so out of necessity. They felt the music industry is primed for both a social and monetary revolution. Some of them were even speaking my language…

Because of this, concepts like decentralization, censorship resistance, owning your content, and controlling your social graph weren't just understood by them, they were instantly embraced. The excitement was real; they immediately saw the potential and agreed with me. Bitcoin and Nostr felt genuinely punk rock and that helped a lot of them identify with what we were offering them.

The Tools and the Issues

While the Nostr ecosystem offers a wide variety of tools, we focused on introducing three key applications at this event to keep things clear for newcomers:

1. Fountain, with a music focus, was the primary tool for onboarding attendees onto Nostr. Fountain was also chosen thanks to Fountain’s built-in Lightning wallet.
2. Primal, as a social alternative, was demonstrated to show how users can take their Nostr identity and content seamlessly between different applications.
3. Tunestr.io, lastly was showcased for its live video streaming capabilities.

Although we highlighted these three, we did inform attendees about the broader range of available apps and pointed them to nostrapps.com if they wanted to explore further, aiming to educate without overwhelming them.

This review highlights several UX issues with the Fountain app, particularly concerning profile updates, wallet functionality, and user discovery. While Fountain does work well, these minor hiccups make it extremely hard for on-boarding and education.

• Profile Issues:
• When a user edits their profile (e.g., Username/Nostr address, Lightning address) either during or after creation, the changes don't appear to consistently update across the app or sync correctly with Nostr relays.
• Specifically, the main profile display continues to show the old default Username/Nostr address and Lightning address inside Fountain and on other Nostr clients.
• However, the updated Username/Nostr address does appear on https://fountain.fm (chosen-username@fountain.fm) and is visible within the "Edit Profile" screen itself in the app.
• This inconsistency is confusing for users, as they see their updated information in some places but not on their main public-facing profile within the app. I confirmed this by observing a new user sign up and edit their username – the edit screen showed the new name, but the profile display in Fountain did not update and we did not see it inside Primal, Damus, Amethyst, etc.
• Wallet Limitations:
• The app's built-in wallet cannot scan Lightning address QR codes to initiate payments.
• This caused problems during the event where users imported Bitcoin from Azte.co vouchers into their Fountain wallets. When they tried to Zap a band by scanning a QR code on the live tally board, Fountain displayed an error message stating the invoice or QR code was invalid.
• While suggesting musicians install Primal as a second Nostr app was a potential fix for the QR code issue, (and I mentioned it to some), the burden of onboarding users onto two separate applications, potentially managing two different wallets, and explaining which one works for specific tasks creates a confusing and frustrating user experience.
• Search Difficulties:
• Finding other users within the Fountain app is challenging. I was unable to find profiles from brand new users by entering their chosen Fountain username.
• To find a new user, I had to resort to visiting their profile on the web (fountain.fm/username) to retrieve their npub. Then, open Primal and follow them. Finally, when searching for their username, since I was now following them, I was able to find their profile.
• This search issue is compounded by the profile syncing problem mentioned earlier, as even if found via other clients, their displayed information is outdated.
• Searching for the event to Boost/Zap inside Fountain was harder than it should have been the first two days as the live stream did not appear at the top of the screen inside the tap. This was resolved on the third day of the event.

Improving the Onboarding Experience

To better support user growth, educators and on-boarders need more feature complete and user-friendly applications. I love our developers and I will always sing their praises from the highest mountain tops, however I also recognize that the current tools present challenges that hinder a smooth onboarding experience.

One potential approach explored was guiding users to use Primal (including its built-in wallet) in conjunction with Wavlake via Nostr Wallet Connect (NWC). While this could facilitate certain functions like music streaming, zaps, and QR code scanning (which require both Primal and Wavlake apps), Wavlake itself has usability issues. These include inconsistent or separate profiles between web and mobile apps, persistent "Login" buttons even when logged in on the mobile app with a Nostr identity, and the minor inconvenience of needing two separate applications. Although NWC setup is relatively easy and helps streamline the process, the need to switch between apps adds complexity, especially when time is limited and we’re aiming to showcase the benefits of this new system.

Ultimately, we need applications that are more feature-complete and intuitive for mainstream users to improve the onboarding experience significantly.

Looking forward to the future

I anticipate that most of these issues will be resolved when these applications address them in the near future. Specifically, this would involve Fountain fixing its profile issues and integrating Nostr Wallet Connect (NWC) to allow users to utilize their Primal wallet, or by enabling the scanning of QR codes that pay out to Lightning addresses. Alternatively, if Wavlake resolves the consistency problems mentioned earlier, this would also significantly improve the situation giving us two viable solutions for musicians.

My ideal onboarding event experience would involve having all the previously mentioned issues resolved. Additionally, I would love to see every attendee receive a $5 or $10 voucher to help them start engaging with value-for-value, rather than just the limited number we distributed recently. The goal is to have everyone actively zapping and sending Bitcoin throughout the event. Maybe we can find a large sponsor to facilitate this in the future?

What's particularly exciting is the Launch conference's strong interest in integrating value-for-value across their entire program for all musicians and speakers at their next event in Dallas, Texas, coming later this fall. This presents a significant opportunity to onboard over 100+ musicians to Bitcoin and Nostr, which in turn will help onboard their fans and supporters.

We need significantly more zaps and more zappers! It's unreasonable to expect the same dedicated individuals to continuously support new users; they are being bled dry. A shift is needed towards more people using bitcoin for everyday transactions, treating it as money. This brings me back to my ideal onboarding experience: securing a sponsor to essentially give participants bitcoin funds specifically for zapping and tipping artists. This method serves as a practical lesson in using bitcoin as money and showcases the value-for-value principle from the outset.

@ 21335073:a244b1ad

Before I saw those X right-wing political “influencers” parading their Epstein binders in that PR stunt, I’d already posted this on Nostr, an open protocol. 

“Today, the world’s attention will likely fixate on Epstein, governmental failures in addressing horrific abuse cases, and the influential figures who perpetrate such acts—yet few will center the victims and survivors in the conversation. The survivors of Epstein went to law enforcement and very little happened. The survivors tried to speak to the corporate press and the corporate press knowingly covered for him. In situations like these social media can serve as one of the only ways for a survivor’s voice to be heard. 

It’s becoming increasingly evident that the line between centralized corporate social media and the state is razor-thin, if it exists at all. Time and again, the state shields powerful abusers when it’s politically expedient to do so. In this climate, a survivor attempting to expose someone like Epstein on a corporate tech platform faces an uphill battle—there’s no assurance their voice would even break through. Their story wouldn’t truly belong to them; it’d be at the mercy of the platform, subject to deletion at a whim. Nostr, though, offers a lifeline—a censorship-resistant space where survivors can share their truths, no matter how untouchable the abuser might seem. A survivor could remain anonymous here if they took enough steps. 

Nostr holds real promise for amplifying survivor voices. And if you’re here daily, tossing out memes, take heart: you’re helping build a foundation for those who desperately need to be heard.“

That post is untouchable—no CEO, company, employee, or government can delete it. Even if I wanted to, I couldn’t take it down myself. The post will outlive me on the protocol. 

The cozy alliance between the state and corporate social media hit me hard during that right-wing X “influencer” PR stunt. Elon owns X. Elon’s a special government employee. X pays those influencers to post. We don’t know who else pays them to post. Those influencers are spurred on by both the government and X to manage the Epstein case narrative. It wasn’t survivors standing there, grinning for photos—it was paid influencers, gatekeepers orchestrating yet another chance to re-exploit the already exploited.

The bond between the state and corporate social media is tight. If the other Epsteins out there are ever to be unmasked, I wouldn’t bet on a survivor’s story staying safe with a corporate tech platform, the government, any social media influencer, or mainstream journalist. Right now, only a protocol can hand survivors the power to truly own their narrative.

I don’t have anything against Elon—I’ve actually been a big supporter. I’m just stating it as I see it. X isn’t censorship resistant and they have an algorithm that they choose not the user. Corporate tech platforms like X can be a better fit for some survivors. X has safety tools and content moderation, making it a solid option for certain individuals. Grok can be a big help for survivors looking for resources or support! As a survivor, you know what works best for you, and safety should always come first—keep that front and center.

That said, a protocol is a game-changer for cases where the powerful are likely to censor. During China's # MeToo movement, survivors faced heavy censorship on social media platforms like Weibo and WeChat, where posts about sexual harassment were quickly removed, and hashtags like # MeToo or "woyeshi" were blocked by government and platform filters. To bypass this, activists turned to blockchain technology encoding their stories—like Yue Xin’s open letter about a Peking University case—into transaction metadata. This made the information tamper-proof and publicly accessible, resisting censorship since blockchain data can’t be easily altered or deleted.

I posted this on X 2/28/25. I wanted to try my first long post on a nostr client. The Epstein cover up is ongoing so it’s still relevant, unfortunately.

If you are a survivor or loved one who is reading this and needs support please reach out to: National Sexual Assault Hotline 24/7 https://rainn.org/

Hours: Available 24 hours

@ 472f440f:5669301e

While most of the world is focused on the lead up to the Presidential election here in the US and louder war drums being beat across the world, the number of bullish developments that are stacking up for bitcoin is increasing rapidly. These developments deserve the OG Marty's Bent smorgasbord treatments, so here are the things that have caught my attention over the last week in no particular order.

The First Ark Transactions on Bitcoin Mainnet

I had the pleasure of participating in a demo of Second's Ark protocol implementation. For those who are unaware, Ark is a new layer-two protocol solution for making off-chain bitcoin payments. Unlike the lightning network, Ark doesn't depend on liquidity channels to facilitate payments. Within the lightning network two counterparties share UTXOs within a channel to move sats back and forth, nodes connect to many different channels to create a network effect that increases the chance of payments getting routed successfully, and node operators manage their channel liquidity as channel imbalances emerge.

Ark is similar in the sense that it also leverages a shared UTXO model. However, instead of having one-to-one channels that come with liquidity management issues, Ark enables a large amount of individuals to share UTXOs, which are managed by an Ark Service Provider (ASP). The ASP is a central party within the protocol, but it is a central party that does not custody UTXOs. It only coordinates the transfer of sats between Ark "rounds". Users have the ability to unilaterally exit the second-layer protocol whenever they deem necessary by broadcasting a Virtual UTXO (vtxo) transaction.

This may seem daunting and complicated. All you need to know is that there is now an new way to make off-chain bitcoin payments that are fast and relatively cheap and it is possible today. As it stands today, Ark has some scaling limitations that can be solved if covenants get merged into the bitcoin protocol, which would significantly reduce the data requirements for signing this type of transaction.

It should also be noted that Ark isn't here to replace the lightning network. It can help serve different use cases and, at the same time, significantly improve the UX of the lightning network. Particularly channel management. The progression of the Ark protocol is a welcomed development. I look forward to following what's going on with Ark as the protocol matures.

The Kingdom of Bhutan is Stacking A LOT of Sats

We were made aware of the fact that the Kingdom of Bhutan, a small country in the Himalayas with a population less than 1,000,000 people, was mining bitcoin in early 2023 when their sovereign wealth fund was doxxed in the bankruptcy proceedings of BlockFi and Celsius. Don't look now, but Bhutan has been doxxed again, this time by the chain surveillance firm Arkham, which is reporting that the nation currently holds more than 13,000 bitcoin, which is nearly 1/3 of its GDP. Driven predominately by its mining operations, which have expanded significantly over the last two years in an attempt to monetize the country's excess hydroelectric power.

While we're not big fans of doxxing here at TFTC, we are fans of the game theory of bitcoin playing out in front of our eyes. And the Kingdom of Bhutan is a shining example of the game theory bitcoiners have been talking about for 15 years playing out perfectly.

Bitcoin is a very thorny topic for individuals at every layer of society. At the individual layer, people have to independently decide that bitcoin is a better money and they have to actively decide to store their wealth in it instead of other assets. For companies, the decision to use bitcoin as the preferred savings vehicle is even harder because most businesses have multiple stakeholders that need to align on a decision before making it. When you move up to the nation state level, the complexity of making the decision to add bitcoin as a strategic reserve asset gets even harder. Many more people and different branches of government need to agree and pass bills (in most cases) before bitcoin can ever make it into a nation's treasury asset mix.

It has long been said within bitcoin circles that individuals who have the ability to think independently, companies that have a lean corporate structure, and nation states with little to lose will be the first movers into bitcoin. And they will benefit massively over the long-run for being early.

If you're an individual reading this who is using bitcoin as their money of choice, you are one of these early movers. Microstrategy under Michael Saylor, who has the ability to make somewhat unilateral decisions due to the company's share structure, is an early move. And, Bhutan, a small nation in the Himalaya mountains with a sovereign wealth fund that seems to have the ability to take risk, is an early mover. With little to lose and greatness to gain, Bhutan is giving other small nation states the playbook for leap frogging the competition in the digital age. Stack a shit ton of bitcoin on the DL, hold on to it for a considerable amount of time, and wake up one day as an economic powerhouse.

The Fed Cuts Rates by 50 Basis Points

I'm sure all of you are well aware at this point. Last week the Federal Reserve made it's first rate cuts in over four years when it cut the fed funds target rate by 0.50% to 4.75-5.00%. With the economy reeling despite what the official government and mainstream narrative may try to make you believe, Jerome Powell and crew have decided it is time to ease up on their monetary policy.

Put another way, inflation is likely to come back with a vengeance as easy money begins to reenter the economy. To be clear, a lower fed funds rate doesn't technically necessitate that newly printed dollars enter the economy like they have over the last 15 years via operations like quantitative easing. However, one has to imagine that the Fed sees some sort of liquidity crisis on the horizon that requires them to begin cutting rates. And not only cutting, but cutting at a pace that was very low probability only a couple of months ago. The consensus in the middle of the Summer was that the Fed would begin lowering rates with a modest 25bps cut this month. They doubled that.

It's probably safe to assume that something is approaching a breaking point on the back end of the financial system. One only has to look at record high credit card debt, record low savings rates, the state of the job market for native born Americans, and the continued turn over of commercial real estate markets to see that not all is well in the American economy. Your Uncle Marty's spidey senses are signaling that a liquidity crunch is likely lurking around the corner. When it does rear its ugly head, you can expect quantitative easing to make a big come back.

When money printer goes brrr, bitcoin goes berserk.

It seems that the Treasury's move over the last 18-months of over-indexing on the front end of the curve during their auctions is already having an expansionary effect on M2 as it has officially entered expansion territory for the first time since 2022. Hold on to your butts, freaks.

Bitcoin's fundamentals are only getting stronger as time goes on. This is evidenced by continued improvement to the protocol stack via second layer protocols, continued adoption by reputable actors like the Kingdom of Bhutan, and the continued mismanagement of the fiat monetary system.

The price of bitcoin has been range bound since the Spring and it has lulled the market into a state of boredom. Enjoy the boring period while it lasts. All signs are pointing to a bitcoin bull run the likes of which the world hasn't seen before. There is a lot of tinder, it is extremely dry, and there are flame throwers on the horizon.

---

Final thought... Nothing makes me happier than meeting someone who gets value from this newsletter or the podcasts in the wild. Love you, freaks.

@ 472f440f:5669301e

As I'm sure many of you are aware already, Israel executed an attack on thousands of Hezbollah members in Lebanon earlier today. At the moment, it looks like Israel successfully waged a supply chain attack on the pagers used by Hezbollah members. Intercepting the devices and placing highly explosive material on the batteries that could be triggered remotely by raising the temperature of the batteries.

To my knowledge, this is the first time an attack of this nature and of this scale has ever been waged. This is a very serious and dangerous precedent that should make anyone reading this think long and hard about the ramifications of the normalization of this type of warfare.

It's not clear to me yet whether this is exactly what happened, but this seems to be where all of the reports are pointing. And when you consider the scale of this operation, it is hard to think of alternative ways that this could have been achieved outside of corrupting the supply chain of this particular pager. Regardless, the die has been cast and remote detonation attacks in crowded civilian areas has been battle tested as an appropriate war tactic.

Not only does this set a terrible precedent for war, but it also begs the question; if they can do something like this with a relatively dumb pager, how much damage could they do with something like an iPhone? How vulnerable are the billions of people who hold smartphones in their pockets, or drive internet connected electric vehicles with lithium ion batteries? How trivial was it for Mossad to gain access to these devices and at what part of the supply chain? Now that this attack has been deemed to be "on the table" how long will it take before others begin to wage similar attacks?

War tactics and their costs are rapidly changing right before our eyes. The war between Russia and Ukraine is showing that low cost drones strapped with bombs can be very effective weapons that can do damage to military equipment worth anywhere between tens of millions to billions of dollars. The Houthi rebels have used cheap drones to completely disrupt the Suez Canal for the better part of a year. The world has only seen the tip of the iceberg in regards to how this type of technology can be used at scale to tip the leverage of power towards those with less financial resources, but a willingness to engage in kinetic conflict. Some of these drones are strapped with thermite flame throwers!

Now that new information has been brought to the market - you can turn pagers and (likely) cellular phones into a network of improvised explosive devices via a software push that increases the temperature of the devices' batteries - it is only a matter of time before others figure out how to do it and begin using these tactics themselves. War machines have never been easier and cheaper to deploy. In a world that is becoming increasingly fractured and angry, this is absolutely frightening. Asymmetric warfare as predicted in the Sovereign Individual is upon us.

As it relates to bitcoin hardware, these attacks highlight that an attack that has been long talked about in the industry but not yet exploited to the best of our knowledge is very real. Supply chain attacks, particularly on bitcoin signing devices that store private key information, have just been proven to be very possible by motivated state actors. If a nation state wanted to somehow "prove" that bitcoin is insecure or figure out a low effort way to do a mass confiscation of bitcoin all they have to do is successfully attack the supply chain of a hardware manufacturer, corrupt the devices, and let them flow to the hands of individuals who believe they are securing their bitcoin in the best way possible. The best way to mitigate this risk is to hold you bitcoin in a multi-sig wallet using a quorum of keys produced by different hardware produced by different manufacturers. Companies like Unchained make this process as seamless and possible and supply chain attacks like the one that was laid bare today highlight why these collaborative custody models are so important. Especially if you are holding a large amount of wealth in bitcoin.

This is a sad day for the world. I'll be praying for peace and sanity to prevail.

Final thought... That was a terrible loss by the Birds.

@ 502ab02a:a2860397

ถ้าเอ่ยถึง CJ หลายคนอาจนึกถึงซอสเกาหลีรสจัดจ้าน หรือบะหมี่กึ่งสำเร็จรูปแบรนด์ดังที่ขายทั่วโลก แต่เบื้องหลังความสำเร็จของแบรนด์เหล่านั้น มีบริษัทแม่อย่าง CJ CheilJedang ที่ไม่ได้แค่ผลิตอาหารแปรรูป แต่เป็นหนึ่งในผู้เล่นใหญ่ของอุตสาหกรรมอาหารระดับโลก ด้วยฐานความรู้ลึกซึ้งในเทคโนโลยีชีวภาพ หนึ่งในแขนงที่โดดเด่นคือ CJ BIO ธุรกิจไบโอเทคโนโลยีที่เน้นการใช้ Microbial Fermentation หรือการหมักจุลินทรีย์เพื่อผลิตสารอาหารและวัตถุดิบอาหารคุณภาพสูงในระดับอุตสาหกรรม

ประวัติของ CJ BIO เริ่มจากจุดเล็ก ๆ แต่ทรงพลัง คือการผลิต โมโนโซเดียมกลูตาเมต (MSG) ซึ่งเป็นกรดอะมิโนชนิดหนึ่งที่มีบทบาทสำคัญในการเพิ่มรสชาติ “อูมามิ” ให้กับอาหารทั่วโลก จุดนี้เองที่ทำให้ CJ BIO ได้สะสมเทคโนโลยีหมักจุลินทรีย์ในระดับอุตสาหกรรมมายาวนานกว่า 60 ปี ด้วยโรงงานหมักขนาดใหญ่ที่ตั้งอยู่ในหลายประเทศ เช่น เกาหลีใต้ จีน บราซิล อินโดนีเซีย และสหรัฐอเมริกา ทำให้ CJ BIO กลายเป็นหนึ่งในผู้ผลิตกรดอะมิโนและวัตถุดิบอาหารหมักจุลินทรีย์รายใหญ่ของโลก

แต่ถ้าให้พูดแบบง่าย ๆ การหมักจุลินทรีย์ของ CJ BIO นั้น ไม่ใช่แค่ “การทำอาหาร” ธรรมดา ๆ แต่เป็นการ “สร้างอาหารในระดับโมเลกุล” ตั้งแต่พื้นฐาน ซึ่งถือเป็นเทคโนโลยีที่สำคัญสำหรับอนาคตของอาหาร เพราะมันช่วยให้เราสามารถผลิตโปรตีน กรดอะมิโน และสารอาหารต่าง ๆ ที่มีคุณภาพสูงและควบคุมได้ในโรงงานขนาดใหญ่ โดยไม่ต้องพึ่งพาการเกษตรแบบดั้งเดิมที่ต้องใช้พื้นที่มากและมีผลกระทบต่อสิ่งแวดล้อม

เมื่อเทรนด์โลกกำลังเปลี่ยนไปในทางที่ผู้บริโภคหันมาใส่ใจสุขภาพและสิ่งแวดล้อมมากขึ้น เรื่อง “อาหารจากห้องแล็บ” หรือ “อาหารเทคโนโลยีชีวภาพ” จึงกลายเป็นสิ่งที่ได้รับความสนใจอย่างมาก และนี่เองที่ทำให้ CJ BIO ไม่ได้หยุดอยู่แค่ Microbial Fermentation แบบดั้งเดิม แต่เริ่มขยับเข้าสู่โลกใหม่ของ Precision Fermentation การใช้จุลินทรีย์ที่ผ่านการดัดแปลงพันธุกรรมอย่างแม่นยำ เพื่อผลิตโปรตีนหรือสารอาหารเฉพาะอย่างที่ต้องการ

ความเคลื่อนไหวที่สำคัญเกิดขึ้นในปี 2022 เมื่อ CJ CheilJedang ประกาศลงทุนใน New Culture สตาร์ทอัพสัญชาติอเมริกันที่กำลังพัฒนา “ชีสไร้วัว” ด้วยเทคโนโลยี Precision Fermentation ซึ่ง New Culture ใช้จุลินทรีย์ที่ถูกออกแบบมาเพื่อผลิตโปรตีนเคซีน โปรตีนหลักในน้ำนมวัว โดยไม่ต้องมีวัวจริงเลย นั่นหมายความว่าชีสที่ผลิตออกมาจะไม่มีส่วนผสมจากสัตว์จริง ๆ แต่ยังคงรสชาติและเนื้อสัมผัสเหมือนชีสธรรมชาติทุกประการ

การลงทุนครั้งนี้ของ CJ CheilJedang บริษัทแม่ของ CJ BIO จึงถือเป็นการผนึกกำลังระหว่างเทคโนโลยีดั้งเดิมที่ผ่านการพิสูจน์แล้วในระดับอุตสาหกรรม กับนวัตกรรมที่พร้อมเปลี่ยนแปลงวงการอาหารครั้งใหญ่

ถ้าให้เปรียบเทียบง่าย ๆ CJ BIO เหมือนกับ “โรงงานปั้นโมเลกุลอาหาร” ที่มีความเชี่ยวชาญสูงในการจัดการกับจุลินทรีย์และการผลิตกรดอะมิโนหลากหลายชนิด โดยเฉพาะ MSG ซึ่งถือเป็น “พี่ใหญ่” ในกลุ่มกรดอะมิโนที่ช่วยเพิ่มรสชาติและถูกใช้ในอุตสาหกรรมอาหารทั่วโลก

ความเชี่ยวชาญในการผลิต MSG นี้เอง คือฐานกำลังสำคัญที่ทำให้ CJ BIO สามารถขยายขอบเขตไปสู่การผลิตโปรตีนด้วย Precision Fermentation ได้อย่างมั่นใจ เพราะกระบวนการหมักจุลินทรีย์เพื่อผลิตกรดอะมิโนและโปรตีนนั้นมีความคล้ายคลึงกันในเชิงเทคนิคและการควบคุมคุณภาพ

CJ BIO มีโรงงานหมักจุลินทรีย์ที่ทันสมัยและขนาดใหญ่กระจายอยู่ทั่วโลก สามารถผลิตวัตถุดิบในปริมาณมหาศาลเพื่อตอบสนองตลาดอาหารที่เติบโตอย่างรวดเร็ว และการมีเครือข่ายโรงงานแบบนี้ทำให้ CJ BIO มีความได้เปรียบในการลดต้นทุนและควบคุมคุณภาพอย่างเข้มงวด

อนาคตที่ CJ BIO กำลังเดินไปนั้น ไม่ใช่แค่การผลิตวัตถุดิบอาหารธรรมดา ๆ แต่คือการสร้างนวัตกรรมที่จะเปลี่ยนแปลงวิธีการผลิตและการบริโภคอาหารของโลก

เมื่อผลิตภัณฑ์จากเทคโนโลยี Precision Fermentation อย่างชีสไร้วัว ไข่ไร่ไก่ หรือโปรตีนทางเลือกต่าง ๆ เริ่มเข้ามาในตลาดมากขึ้น เราอาจจะได้เห็น CJ BIO ทำหน้าที่เหมือน “Intel Inside” ของวงการอาหารอนาคต ที่อยู่เบื้องหลังผลิตภัณฑ์สำคัญ ๆ ที่ผู้บริโภคชื่นชอบโดยไม่รู้ตัว

นี่คือเหตุผลที่ทำให้การมองแค่แบรนด์อาหารหรือการตลาดที่พูดถึง “ความยั่งยืน” หรือ “อาหารปลอดสัตว์” ยังไม่พอ เราต้องมองให้ลึกไปถึงระบบนิเวศของเทคโนโลยีและทุนที่อยู่เบื้องหลัง เพราะนั่นคือเกมกระดานใหญ่ที่กำลังขยับเปลี่ยนแปลงวงการอาหารโลกอย่างแท้จริง

#pirateketo #กูต้องรู้มั๊ย #ม้วนหางสิลูก #siamstr

@ 57d1a264:69f1fee1

As a product builder over too many years to mention, I’ve lost count of the number of times I’ve seen promising ideas go from zero to hero in a few weeks, only to fizzle out within months.

The problem with most finance apps, however, is that they often become a reflection of the internal politics of the business rather than an experience solely designed around the customer. This means that the focus is on delivering as many features and functionalities as possible to satisfy the needs and desires of competing internal departments, rather than providing a clear value proposition that is focused on what the people out there in the real world want. As a result, these products can very easily bloat to become a mixed bag of confusing, unrelated and ultimately unlovable customer experiences—a feature salad, you might say.

Financial products, which is the field I work in, are no exception. With people’s real hard-earned money on the line, user expectations running high, and a crowded market, it’s tempting to throw as many features at the wall as possible and hope something sticks. But this approach is a recipe for disaster.

Here’s why: https://alistapart.com/article/from-beta-to-bedrock-build-products-that-stick/

https://stacker.news/items/985285

@ 6cc4225f:942b7222

(Cover image photo credit: The Crypto Times)

“Our world of widows needs to be saved / it’s now or never — victim or victory, rebel or regret / who you are and who you claim to be / no more heroes.” -Converge, “No Heroes”

Usually, bad takes from big figures in the Bitcoin space roll off my back. I often don’t feel a need to counter them because 1.) Everyone is entitled to their opinion and 2.) I don’t enjoy spending my time arguing with people on the Internet.

But when a take is really bad — downright evil — I feel compelled to respond.

And respond I did to a bad take this week (link in just a second, first some context).

Lately in the media, MicroStrategy Chair Michael Saylor has been laying out his vision for a digital asset framework.

This framework includes conceptualizing Bitcoin as a commodity — nothing more than capital — and stablecoins like Tether (USDT) and USD Coin (USDC) as “digital currencies” (his words).

As if someone who considers themselves a “triple bitcoin maxi” (maybe one of the lamest terms ever) denying that bitcoin is a currency weren’t nauseating enough, his “evil genius plan” (his words) to get the world hooked on USD stablecoins as money while the US hoards bitcoin should have you upchuck everything in your guts if you truly believe in Bitcoin’s value proposition.

Below (a few lines down) is the piece I wrote countering Saylor’s perspective.

If there are two things I hope you take away from it, the first is to KILL YOUR IDOLS (not literally, of course) and the second is that WE ARE BITCOIN, and if we believe in the technology — all dimensions of it — we have to defend it.

Enjoy.

Michael Saylor Doesn't Understand Bitcoin

## Support The Open Dialogue Foundation

Speaking of defending Bitcoin, we all owe a debt of gratitude to the work that the Open Dialogue Foundation (ODF) is doing to defend our legal right to use non-custodial bitcoin wallets.

Please read the following piece I wrote this week to learn more.

Protect Your Non-Custodial Bitcoin Wallet — Support The Open Dialogue Foundation

And please make a tax-deductible contribution (before the year’s end) to the organization here.

Bitcoin’s Second Book-Length Academic Text — The Satoshi Papers — Coming Soon

This week, I published my interview with Natalie Smolenski, a PhD-holding theoretical anthropologist who often makes very valuable thought contributions to the Bitcoin space.

The Satoshi Papers Explores The Role Of The State In A Post-Bitcoin World: An Interview With Natalie Smolenski

What I loved most about this interview (and I loved a lot about it) is Smolenski’s lack of reverence.

Two of my favorite quotes from the interview:

“There was kind of a triumph of a certain very statist approach to socialism and even communism in the American academy, in the Anglophone academy, that has persisted to this day, where there's, like I was saying earlier, a suspicion of anything smacking of individualism as bourgeois conceit or reinscribing social hierarchies, racial hierarchies, gender hierarchies, blah, blah, blah.”

The “blah, blah, blah” hit hard. It reminded me of how I used to tune out when speaking with a good portion of my co-workers during the years I taught at the college level.

The other one:

“What do you hope people will take away from The Satoshi Papers?

*> If there's only one idea that people take away from it, it's that your emancipation does not require the state. You do not need to wait for the government.

*> My God, take control of your life. You can, it is within your power to do so, and here are some examples of ways that people throughout human history have chosen to do so."

The “My God” was so properly placed. Chef’s kiss.

Check out to entire piece to absorb more of Smolenski’s wisdom.

Thank you all for reading, and here’s to a great week ahead!

Best,

Frank

@ 472f440f:5669301e

TAPS SIGN

"There is no industry in the world that is more ruthlessly competitive than the bitcoin mining industry."

From any angle you cut it the bitcoin mining economic landscape is absolutely BRUTAL at the moment. Hashprice is sitting right above an all time low at $0.04/TH/day. Yesterday brought with it yet another new difficulty all time high. Competition for energy resources is as fierce as it has ever been as rack space continues to be tight in the United States and hoards of AI data centers move in to scoop up as much power as possible.

To make matters worse, with current economics it doesn't really make sense to buy bitcoin mining machines at their current prices. The pay back period on machines is absurd considering where we find ourselves in the market. Adam O from Upstream Data broke it down in a tweet earlier today.

As he says, it probably makes more sense to buy used machines than new machines right now if you are looking to make back your money on a reasonable timeline. The only reasons you would buy new hardware right now is if you believe the price is going to rip in the near term (risky bet), you think hashrate is going to come off the network (risky bet), or if you have obscenely low power costs (unlikely for most).

If you have machines plugged in or are thinking about plugging them in soon you better be running firmware that enables you to run your machines more efficiently to increase margins. With current economics, I would make the argument that it is incredibly irresponsible to be running your machines using stock firmware. Especially if you are operating a miner in the public markets or are a private miner backed by investors. It is a disservice to your shareholders. This is a strategy we have been deploying at Cathedra for years now and it has helped us to survive during these trying times in the mining industry and set us up to successfully complete a strategic merger with Kungsleden at an opportune time.

On that note, this is a trend you can expect to pick up over the next six months; mergers and acquisitions. We wrote earlier this year that M&A activity would pick up after the halving began to eat into the economics of mining businesses and that is exactly what is happening. We decided to move early at Cathedra to get ahead of the curve. Since then Cleanspark announced a merger with GRIID, Riot has initiated an attempted hostile takeover of Bitfarms, Bitfarms has entered an agreement to merge with Stronghold, and Terawulf has signaled that they are open to a merger if a particular deal makes sense. On top of this, Rhodium slipped into bankruptcy last month. As margins continue to be squeezed and companies get more desperate I expect this type of consolidation to accelerate.

All signs are pointing toward more pain in the world of mining in the near term. There is nothing outside of a face ripping rally in the price of bitcoin or some unforeseen event that knocks out a material amount of hashrate that will change this reality. Especially considering the fact that Bitmain announced a new hydro model that will produce 860 TH/s at ~13 J/TH! This will be the highest hashing, most energy efficient machine to ever hit the market by a considerable margin.

Once these machines hit the market (if they haven't already via Bitmain plugging them in, which could explain new difficulty all time highs despite terrible mining conditions) every other machine on the market is going to suffer economically.

To make matters worse for everyone struggling right now, savvy energy producers are beginning to understand the benefits bitcoin mining can bring to their operational stack. Japanese energy giant TEPCO is reportedly planning to scale up their mining operations after beginning pilots in late 2022. They want to utilize the excess energy produced by renewable sources to mine bitcoin. From what I can tell, they haven't scaled up significantly yet. However, it is reasonable to believe that they will scale up and other energy producers will take notice. Pushing the industry closer to its inevitable end state; vertical integration via energy producers who have the lowest cost of production.

Thank you for coming to my TED Talk. Keep hashing if you can.

Final thought...

The pets need protecting.

@ c1e9ab3a:9cb56b43

Introduction

Throughout human history, the pyramids of Egypt have fascinated scholars, archaeologists, and engineers alike. Traditionally thought of as tombs for pharaohs or religious monuments, alternative theories have speculated that the pyramids may have served advanced technological functions. One such hypothesis suggests that the pyramids acted as large-scale nitrogen fertilizer generators, designed to transform arid desert landscapes into fertile land.

This paper explores the feasibility of such a system by examining how a pyramid could integrate thermal convection, electrolysis, and a self-regulating breeder reactor to sustain nitrogen fixation processes. We will calculate the total power requirements and estimate the longevity of a breeder reactor housed within the structure.

The Pyramid’s Function as a Nitrogen Fertilizer Generator

The hypothesized system involves several key processes:

• Heat and Convection: A fissile material core located in the King's Chamber would generate heat, creating convection currents throughout the pyramid.
• Electrolysis and Hydrogen Production: Water sourced from subterranean channels would undergo electrolysis, splitting into hydrogen and oxygen due to electrical and thermal energy.
• Nitrogen Fixation: The generated hydrogen would react with atmospheric nitrogen (N₂) to produce ammonia (NH₃), a vital component of nitrogen-based fertilizers.

Power Requirements for Continuous Operation

To maintain the pyramid’s core at approximately 450°C, sufficient to drive nitrogen fixation, we estimate a steady-state power requirement of 23.9 gigawatts (GW).

Total Energy Required Over 10,000 Years

Given continuous operation over 10,000 years, the total energy demand can be calculated as:

[ \text{Total time} = 10,000 \times 365.25 \times 24 \times 3600 \text{ seconds} ]

[ \text{Total time} = 3.16 \times 10^{11} \text{ seconds} ]

[ \text{Total energy} = 23.9 \text{ GW} \times 3.16 \times 10^{11} \text{ s} ]

[ \approx 7.55 \times 10^{21} \text{ J} ]

Using a Self-Regulating Breeder Reactor

A breeder reactor could sustain this power requirement by generating more fissile material than it consumes. This reduces the need for frequent refueling.

Pebble Bed Reactor Design

• Self-Regulation: The reactor would use passive cooling and fuel expansion to self-regulate temperature.
• Breeding Process: The reactor would convert thorium-232 into uranium-233, creating a sustainable fuel cycle.

Fissile Material Requirements

Each kilogram of fissile material releases approximately 80 terajoules (TJ) (or 8 × 10^{13} J/kg). Given a 35% efficiency rate, the usable energy per kilogram is:

[ \text{Usable energy per kg} = 8 \times 10^{13} \times 0.35 = 2.8 \times 10^{13} \text{ J/kg} ]

[ \text{Fissile material required} = \frac{7.55 \times 10^{21}}{2.8 \times 10^{13}} ]

[ \approx 2.7 \times 10^{8} \text{ kg} = 270,000 \text{ tons} ]

Impact of a Breeding Ratio

If the reactor operates at a breeding ratio of 1.3, the total fissile material requirement would be reduced to:

[ \frac{270,000}{1.3} \approx 208,000 \text{ tons} ]

Reactor Size and Fuel Replenishment

Assuming a pebble bed reactor housed in the King’s Chamber (~318 cubic meters), the fuel cycle could be sustained with minimal refueling. With a breeding ratio of 1.3, the reactor could theoretically operate for 10,000 years with occasional replenishment of lost material due to inefficiencies.

Managing Scaling in the Steam Generation System

To ensure long-term efficiency, the water supply must be conditioned to prevent mineral scaling. Several strategies could be implemented:

1. Natural Water Softening Using Limestone

• Passing river water through limestone beds could help precipitate out calcium bicarbonate, reducing hardness before entering the steam system.

2. Chemical Additives for Scaling Prevention

• Chelating Agents: Compounds such as citric acid or tannins could be introduced to bind calcium and magnesium ions.
• Phosphate Compounds: These interfere with crystal formation, preventing scale adhesion.

3. Superheating and Pre-Evaporation

• Pre-Evaporation: Water exposed to extreme heat before entering the system would allow minerals to precipitate out before reaching the reactor.
• Superheated Steam: Ensuring only pure vapor enters the steam cycle would prevent mineral buildup.
• Electrolysis of Superheated Steam: Using multi-million volt electrostatic fields to ionize and separate minerals before they enter the steam system.

4. Electrostatic Control for Scaling Mitigation

• The pyramid’s hypothesized high-voltage environment could ionize water molecules, helping to prevent mineral deposits.

Conclusion

If the Great Pyramid were designed as a self-regulating nitrogen fertilizer generator, it would require a continuous 23.9 GW energy supply, which could be met by a breeder reactor housed within its core. With a breeding ratio of 1.3, an initial load of 208,000 tons of fissile material would sustain operations for 10,000 years with minimal refueling.

Additionally, advanced water treatment techniques, including limestone filtration, chemical additives, and electrostatic control, could ensure long-term efficiency by mitigating scaling issues.

While this remains a speculative hypothesis, it presents a fascinating intersection of energy production, water treatment, and environmental engineering as a means to terraform the ancient world.

@ 04c915da:3dfbecc9

For years American bitcoin miners have argued for more efficient and free energy markets. It benefits everyone if our energy infrastructure is as efficient and robust as possible. Unfortunately, broken incentives have led to increased regulation throughout the sector, incentivizing less efficient energy sources such as solar and wind at the detriment of more efficient alternatives.

The result has been less reliable energy infrastructure for all Americans and increased energy costs across the board. This naturally has a direct impact on bitcoin miners: increased energy costs make them less competitive globally.

Bitcoin mining represents a global energy market that does not require permission to participate. Anyone can plug a mining computer into power and internet to get paid the current dynamic market price for their work in bitcoin. Using cellphone or satellite internet, these mines can be located anywhere in the world, sourcing the cheapest power available.

Absent of regulation, bitcoin mining naturally incentivizes the build out of highly efficient and robust energy infrastructure. Unfortunately that world does not exist and burdensome regulations remain the biggest threat for US based mining businesses. Jurisdictional arbitrage gives miners the option of moving to a friendlier country but that naturally comes with its own costs.

Enter AI. With the rapid development and release of AI tools comes the requirement of running massive datacenters for their models. Major tech companies are scrambling to secure machines, rack space, and cheap energy to run full suites of AI enabled tools and services. The most valuable and powerful tech companies in America have stumbled into an accidental alliance with bitcoin miners: THE NEED FOR CHEAP AND RELIABLE ENERGY.

Our government is corrupt. Money talks. These companies will push for energy freedom and it will greatly benefit us all.

@ c631e267:c2b78d3e

Nur wenn wir aufeinander zugehen, haben wir die Chance \ auf Überwindung der gegenseitigen Ressentiments! \ Dr. med. dent. Jens Knipphals

In Wolfsburg sollte es kürzlich eine Gesprächsrunde von Kritikern der Corona-Politik mit Oberbürgermeister Dennis Weilmann und Vertretern der Stadtverwaltung geben. Der Zahnarzt und langjährige Maßnahmenkritiker Jens Knipphals hatte diese Einladung ins Rathaus erwirkt und publiziert. Seine Motivation:

«Ich möchte die Spaltung der Gesellschaft überwinden. Dazu ist eine umfassende Aufarbeitung der Corona-Krise in der Öffentlichkeit notwendig.»

Schon früher hatte Knipphals Antworten von den Kommunalpolitikern verlangt, zum Beispiel bei öffentlichen Bürgerfragestunden. Für das erwartete Treffen im Rathaus formulierte er Fragen wie: Warum wurden fachliche Argumente der Kritiker ignoriert? Weshalb wurde deren Ausgrenzung, Diskreditierung und Entmenschlichung nicht entgegengetreten? In welcher Form übernehmen Rat und Verwaltung in Wolfsburg persönlich Verantwortung für die erheblichen Folgen der politischen Corona-Krise?

Der Termin fand allerdings nicht statt – der Bürgermeister sagte ihn kurz vorher wieder ab. Knipphals bezeichnete Weilmann anschließend als Wiederholungstäter, da das Stadtoberhaupt bereits 2022 zu einem Runden Tisch in der Sache eingeladen hatte, den es dann nie gab. Gegenüber Multipolar erklärte der Arzt, Weilmann wolle scheinbar eine öffentliche Aufarbeitung mit allen Mitteln verhindern. Er selbst sei «inzwischen absolut desillusioniert» und die einzige Lösung sei, dass die Verantwortlichen gingen.

Die Aufarbeitung der Plandemie beginne bei jedem von uns selbst, sei aber letztlich eine gesamtgesellschaftliche Aufgabe, schreibt Peter Frey, der den «Fall Wolfsburg» auch in seinem Blog behandelt. Diese Aufgabe sei indes deutlich größer, als viele glaubten. Erfreulicherweise sei der öffentliche Informationsraum inzwischen größer, trotz der weiterhin unverfrorenen Desinformations-Kampagnen der etablierten Massenmedien.

Frey erinnert daran, dass Dennis Weilmann mitverantwortlich für gravierende Grundrechtseinschränkungen wie die 2021 eingeführten 2G-Regeln in der Wolfsburger Innenstadt zeichnet. Es sei naiv anzunehmen, dass ein Funktionär einzig im Interesse der Bürger handeln würde. Als früherer Dezernent des Amtes für Wirtschaft, Digitalisierung und Kultur der Autostadt kenne Weilmann zum Beispiel die Verknüpfung von Fördergeldern mit politischen Zielsetzungen gut.

Wolfsburg wurde damals zu einem Modellprojekt des Bundesministeriums des Innern (BMI) und war Finalist im Bitkom-Wettbewerb «Digitale Stadt». So habe rechtzeitig vor der Plandemie das Projekt «Smart City Wolfsburg» anlaufen können, das der Stadt «eine Vorreiterrolle für umfassende Vernetzung und Datenerfassung» aufgetragen habe, sagt Frey. Die Vereinten Nationen verkauften dann derartige «intelligente» Überwachungs- und Kontrollmaßnahmen ebenso als Rettung in der Not wie das Magazin Forbes im April 2020:

«Intelligente Städte können uns helfen, die Coronavirus-Pandemie zu bekämpfen. In einer wachsenden Zahl von Ländern tun die intelligenten Städte genau das. Regierungen und lokale Behörden nutzen Smart-City-Technologien, Sensoren und Daten, um die Kontakte von Menschen aufzuspüren, die mit dem Coronavirus infiziert sind. Gleichzeitig helfen die Smart Cities auch dabei, festzustellen, ob die Regeln der sozialen Distanzierung eingehalten werden.»

Offensichtlich gibt es viele Aspekte zu bedenken und zu durchleuten, wenn es um die Aufklärung und Aufarbeitung der sogenannten «Corona-Pandemie» und der verordneten Maßnahmen geht. Frustration und Desillusion sind angesichts der Realitäten absolut verständlich. Gerade deswegen sind Initiativen wie die von Jens Knipphals so bewundernswert und so wichtig – ebenso wie eine seiner Kernthesen: «Wir müssen aufeinander zugehen, da hilft alles nichts».

---

Dieser Beitrag ist zuerst auf Transition News erschienen.

@ a6b4114e:60d83c46

GTA San Andreas is one installment of Grand Theft Auto.

It is safe and secure for your device. No harmful elements have been found yet. It does not contain viruses, malware, bloatware, bugs, or threats, as its authority always upgrades the game to eliminate unwanted components. The amazing thing is that the game is 100% free for Android users.

You do not pay a single cent from your pocket.

Download: https://androidhd.com/en/gta-san-andreas

@ c1e9ab3a:9cb56b43

Introduction

Since the mid-1990s, American media has fractured into two distinct and increasingly isolated ecosystems, each with its own Overton window of acceptable discourse. Once upon a time, Americans of different political leanings shared a common set of facts, even if they interpreted them differently. Today, they don’t even agree on what the facts are—or who has the authority to define them.

This divide stems from a deeper philosophical rift in how each side determines truth and legitimacy. The institutional left derives its authority from the expert class—academics, think tanks, scientific consensus, and mainstream media. The populist right, on the other hand, finds its authority in traditional belief systems—religion, historical precedent, and what many call "common sense." As these two moral and epistemological frameworks drift further apart, the result is not just political division but the emergence of two separate cultural nations sharing the same geographic space.

The Battle of Epistemologies: Experts vs. Tradition

The left-leaning camp sees scientific consensus, peer-reviewed research, and institutional expertise as the gold standard of truth. Universities, media organizations, and policy think tanks function as arbiters of knowledge, shaping the moral and political beliefs of those who trust them. From this perspective, governance should be guided by data-driven decisions, often favoring progressive change and bureaucratic administration over democratic populism.

The right-leaning camp is skeptical of these institutions, viewing them as ideologically captured and detached from real-world concerns. Instead, they look to religion, historical wisdom, and traditional social structures as more reliable sources of truth. To them, the "expert class" is not an impartial source of knowledge but a self-reinforcing elite that justifies its own power while dismissing dissenters as uneducated or morally deficient.

This fundamental disagreement over the source of moral and factual authority means that political debates today are rarely about policy alone. They are battles over legitimacy itself. One side sees resistance to climate policies as "anti-science," while the other sees aggressive climate mandates as an elite power grab. One side views traditional gender roles as oppressive, while the other sees rapid changes in gender norms as unnatural and destabilizing. Each group believes the other is not just wrong, but dangerous.

The Consequences of Non-Overlapping Overton Windows

As these worldviews diverge, so do their respective Overton windows—the range of ideas considered acceptable for public discourse. There is little overlap left. What is considered self-evident truth in one camp is often seen as heresy or misinformation in the other. The result is:

• Epistemic Closure – Each side has its own trusted media sources, and cross-exposure is minimal. The left dismisses right-wing media as conspiracy-driven, while the right views mainstream media as corrupt propaganda. Both believe the other is being systematically misled.
• Moralization of Politics – Since truth itself is contested, policy debates become existential battles. Disagreements over issues like immigration, education, or healthcare are no longer just about governance but about moral purity versus moral corruption.
• Cultural and Political Balkanization – Without a shared understanding of reality, compromise becomes impossible. Americans increasingly consume separate news, live in ideologically homogeneous communities, and even speak different political languages.

Conclusion: Two Nations on One Land

A country can survive disagreements, but can it survive when its people no longer share a common source of truth? Historically, such deep societal fractures have led to secession, authoritarianism, or violent conflict. The United States has managed to avoid these extremes so far, but the trendline is clear: as long as each camp continues reinforcing its own epistemology while rejecting the other's as illegitimate, the divide will only grow.

The question is no longer whether America is divided—it is whether these two cultures can continue to coexist under a single political system. Can anything bridge the gap between institutional authority and traditional wisdom? Or are we witnessing the slow but inevitable unraveling of a once-unified nation into two separate moral and epistemic realities?