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@ dfa02707:41ca50e3
2025-06-07 13:01:49Contribute to keep No Bullshit Bitcoin news going.
- The latest firmware updates for COLDCARD devices introduce two major features: COLDCARD Co-sign (CCC) and Key Teleport between two COLDCARD Q devices using QR codes and/or NFC with a website.
What's new
- COLDCARD Co-Sign: When CCC is enabled, a second seed called the Spending Policy Key (Key C) is added to the device. This seed works with the device's Main Seed and one or more additional XPUBs (Backup Keys) to form 2-of-N multisig wallets.
- The spending policy functions like a hardware security module (HSM), enforcing rules such as magnitude and velocity limits, address whitelisting, and 2FA authentication to protect funds while maintaining flexibility and control, and is enforced each time the Spending Policy Key is used for signing.
- When spending conditions are met, the COLDCARD signs the partially signed bitcoin transaction (PSBT) with the Main Seed and Spending Policy Key for fund access. Once configured, the Spending Policy Key is required to view or change the policy, and violations are denied without explanation.
"You can override the spending policy at any time by signing with either a Backup Key and the Main Seed or two Backup Keys, depending on the number of keys (N) in the multisig."
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A step-by-step guide for setting up CCC is available here.
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Key Teleport for Q devices allows users to securely transfer sensitive data such as seed phrases (words, xprv), secure notes and passwords, and PSBTs for multisig. It uses QR codes or NFC, along with a helper website, to ensure reliable transmission, keeping your sensitive data protected throughout the process.
- For more technical details, see the protocol spec.
"After you sign a multisig PSBT, you have option to “Key Teleport” the PSBT file to any one of the other signers in the wallet. We already have a shared pubkey with them, so the process is simple and does not require any action on their part in advance. Plus, starting in this firmware release, COLDCARD can finalize multisig transactions, so the last signer can publish the signed transaction via PushTX (NFC tap) to get it on the blockchain directly."
- Multisig transactions are finalized when sufficiently signed. It streamlines the use of PushTX with multisig wallets.
- Signing artifacts re-export to various media. Users are now provided with the capability to export signing products, like transactions or PSBTs, to alternative media rather than the original source. For example, if a PSBT is received through a QR code, it can be signed and saved onto an SD card if needed.
- Multisig export files are signed now. Public keys are encoded as P2PKH address for all multisg signature exports. Learn more about it here.
- NFC export usability upgrade: NFC keeps exporting until CANCEL/X is pressed.
- Added Bitcoin Safe option to Export Wallet.
- 10% performance improvement in USB upload speed for large files.
- Q: Always choose the biggest possible display size for QR.
Fixes
- Do not allow change Main PIN to same value already used as Trick PIN, even if Trick PIN is hidden.
- Fix stuck progress bar under
Receiving...after a USB communications failure. - Showing derivation path in Address Explorer for root key (m) showed double slash (//).
- Can restore developer backup with custom password other than 12 words format.
- Virtual Disk auto mode ignores already signed PSBTs (with “-signed” in file name).
- Virtual Disk auto mode stuck on “Reading…” screen sometimes.
- Finalization of foreign inputs from partial signatures. Thanks Christian Uebber!
- Temporary seed from COLDCARD backup failed to load stored multisig wallets.
Destroy Seedalso removes all Trick PINs from SE2.Lock Down Seedrequires pressing confirm key (4) to execute.- Q only: Only BBQr is allowed to export Coldcard, Core, and pretty descriptor.
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@ 9ca447d2:fbf5a36d
2025-06-07 16:01:19
Wall Street is warming up to Bitcoin and getting closer and closer to it.
Cantor Fitzgerald, one of the oldest and most respected investment banks on Wall Street, has launched a $2 billion bitcoin-backed lending program.
They’ve reportedly already done their first deals, lending to two big digital asset companies: FalconX and Maple Finance.
This is a big step in connecting traditional finance to the fast-moving world of Bitcoin.
Cantor’s new service allows big investors, hedge funds and asset managers, to borrow money using bitcoin as collateral.
This is a game changer for institutions that hold bitcoin, as they can now access liquidity without having to sell their assets.
“Institutions holding bitcoin are looking to broaden their access to diverse funding sources,” said Christian Wall, co-CEO and global head of fixed income at Cantor Fitzgerald.
“And we are excited to support their liquidity needs to help them drive long term growth and success.”
The loans are not speculative or unsecured.
They are structured like traditional finance deals, backed by the borrower’s bitcoin. This reduces the risk for Cantor while giving bitcoin-holding companies new ways to grow and operate.
The first recipients of Cantor’s lending program are FalconX, a digital asset brokerage, and Maple Finance, a blockchain-based lending platform.
FalconX confirmed they secured a credit facility of over $100 million. Maple Finance also received the first tranche of their loan from Cantor.
This comes at a time when the bitcoin lending space is recovering after a tough period. Several big firms went under in 2022 and investor confidence was shaken.
Now with traditional finance on board, bitcoin-backed lending has returned. According to Galaxy Research the total size of the digital asset lending market grew to $36.5 billion in Q4 2024.
Cantor’s move into bitcoin-backed lending isn’t new. They announced their plans in July 2024 and have been building their presence in the Bitcoin space since then.
Earlier this year, they partnered with Tether, SoftBank and Bitfinex to launch Twenty One Capital, a $3.6 billion fund to buy over 42,000 bitcoin.
In May 2025 Cantor Equity Partners merged with Twenty One Capital and bought nearly $459 million worth of bitcoin.
They also own around $1.9 billion in shares of Strategy, a company that holds a lot of bitcoin. Clearly Cantor believes in bitcoin as a long-term asset.
Cantor is also a big player in the stablecoin space.
They manage U.S. Treasury reserves for Tether, the company behind the $142 billion USDT stablecoin. This adds another layer of trust and credibility to Cantor’s digital asset involvement.
To secure the bitcoin used as collateral, Cantor has partnered with digital asset custodians Anchorage Digital and Copper.co.
These companies are known for their robust security and institutional-grade infrastructure. Cantor hasn’t disclosed loan terms or interest rates but confirmed the lending will follow current regulations.
This also shows how traditional financial players are embracing DeFi.
Maple Finance for example allows undercollateralized lending using blockchain. By backing companies like Maple, Cantor is innovating while still having control and compliance.
For years, bitcoin-backed loans were only available through digital-asset-native companies like Genesis, BlockFi, and Ledn.
These loans were mostly for smaller clients and retail investors. But with Cantor’s entry, the scale and professionalism of bitcoin lending are expanding.
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@ 866e0139:6a9334e5
2025-06-08 07:10:42
Autor: John J. Mearsheimer. Dieser Beitrag wurde mit dem Pareto-Client geschrieben und erschien zuerst auf dem Blog des Autors. Sie finden alle Texte der Friedenstaube und weitere Texte zum Thema Frieden hier.**
Die neuesten Pareto-Artikel finden Sie in unserem Telegram-Kanal.
Die neuesten Artikel der Friedenstaube gibt es jetzt auch im eigenen Friedenstaube-Telegram-Kanal.
Die Frage, wer für den Krieg in der Ukraine verantwortlich ist, ist seit dem Einmarsch Russlands in die Ukraine am 24. Februar 2022 ein sehr umstrittenes Thema.Die Antwort auf diese Frage ist von enormer Bedeutung, denn der Krieg war aus verschiedenen Gründen eine Katastrophe, von denen die wichtigste darin besteht, dass die Ukraine praktisch zerstört wurde. Sie hat einen beträchtlichen Teil ihres Territoriums verloren und wird wahrscheinlich noch mehr verlieren, ihre Wirtschaft liegt in Trümmern, eine riesige Zahl von Ukrainern wurde intern vertrieben oder ist aus dem Land geflohen, und sie hat Hunderttausende von Opfern zu beklagen. Natürlich hat auch Russland einen hohen Blutzoll gezahlt. Auf strategischer Ebene sind die Beziehungen zwischen Russland und Europa, ganz zu schweigen von Russland und der Ukraine, auf absehbare Zeit vergiftet, was bedeutet, dass die Gefahr eines größeren Krieges in Europa auch dann noch bestehen wird, wenn der Krieg in der Ukraine zu einem eingefrorenen Konflikt wird. Wer die Verantwortung für diese Katastrophe trägt, ist eine Frage, die nicht so schnell verschwinden wird, sondern eher noch an Bedeutung gewinnen dürfte, je mehr Menschen das Ausmaß der Katastrophe bewusst wird.
Die gängige Meinung im Westen ist, dass Wladimir Putin für den Krieg in der Ukraine verantwortlich sei. Die Invasion habe darauf abgezielt, die gesamte Ukraine zu erobern und sie zu einem Teil eines größeren Russlands zu machen, so die Argumentation. Sobald dieses Ziel erreicht sei, würden die Russen ein Imperium in Osteuropa errichten, ähnlich wie es die Sowjetunion nach dem Zweiten Weltkrieg getan habe. Daher stelle Putin letztlich eine Bedrohung für den Westen dar, der man mit aller Macht begegnen müsse. Kurz gesagt, Putin ist ein Imperialist mit einem Masterplan, der sich nahtlos in die reiche russische Tradition einfügt.
Das alternative Argument, mit dem ich mich identifiziere und das im Westen eindeutig in der Minderheit ist, lautet, dass die Vereinigten Staaten und ihre Verbündeten den Krieg provoziert haben. Damit soll natürlich nicht geleugnet werden, dass Russland in die Ukraine einmarschiert ist und den Krieg begonnen hat. Die Hauptursache des Konflikts ist jedoch der NATO-Beschluss, die Ukraine in das Bündnis aufzunehmen, was praktisch alle russischen Führer als existenzielle Bedrohung ansehen, die beseitigt werden muss. Die NATO-Erweiterung ist jedoch Teil einer umfassenderen Strategie, die darauf abzielt, die Ukraine zu einem westlichen Bollwerk an Russlands Grenze zu machen. Ein Beitritt Kiews zur Europäischen Union (EU) und die Förderung einer farbigen Revolution in der Ukraine – die Umwandlung des Landes in eine prowestliche liberale Demokratie – sind die beiden anderen Säulen dieser Politik. Die russische Führung fürchtet alle drei Bereiche, aber am meisten fürchtet sie die NATO-Erweiterung. Um dieser Bedrohung zu begegnen, hat Russland am 24. Februar 2022 einen Präventivkrieg begonnen.
Die Debatte darüber, wer den Ukraine-Krieg verursacht hat, ist kürzlich aufgeflammt, als zwei prominente westliche Politiker – der ehemalige US-Präsident Donald Trump und der prominente britische Abgeordnete Nigel Farage – das Argument vorbrachten, dass die NATO-Erweiterung die treibende Kraft hinter dem Konflikt sei. Es überrascht nicht, dass ihre Äußerungen von den Verfechtern der konventionellen Meinung mit einem heftigen Gegenangriff beantwortet wurden. Es ist auch erwähnenswert, dass der scheidende NATO-Generalsekretär Jens Stoltenberg im vergangenen Jahr zweimal sagte, dass „Präsident Putin diesen Krieg begonnen hat, weil er die Tür der NATO schließen und der Ukraine das Recht verweigern wollte, ihren eigenen Weg zu wählen“. Kaum jemand im Westen hat dieses bemerkenswerte Eingeständnis des NATO-Chefs in Frage gestellt, und er hat es auch nicht zurückgezogen.
Mein Ziel ist es, einen Überblick über die wichtigsten Punkte zu geben, die die Ansicht stützen, dass Putin nicht in die Ukraine einmarschiert ist, weil er ein Imperialist ist, der die Ukraine zu einem Teil eines größeren Russlands machen will, sondern vor allem wegen der NATO-Erweiterung und der Bemühungen des Westens, die Ukraine zu einer westlichen Hochburg an der Grenze Russlands zu machen.
DIE FRIEDENSTAUBE FLIEGT AUCH IN IHR POSTFACH!
In Kürze folgt eine Mail an alle Genossenschafter, danke für die Geduld und das Verständnis!
Hier können Sie die Friedenstaube abonnieren und bekommen die Artikel zugesandt, vorerst für alle kostenfrei, wir starten gänzlich ohne Paywall. (Die Bezahlabos fangen erst zu laufen an, wenn ein Monetarisierungskonzept für die Inhalte steht). Sie wollen der Genossenschaft beitreten oder uns unterstützen? Mehr Infos hier oder am Ende des Textes.
Lassen Sie mich mit den sieben wichtigsten Gründen für die Ablehnung der herkömmlichen Meinung beginnen.
ERSTENS gibt es schlicht und ergreifend keine Beweise aus der Zeit vor dem 24. Februar 2022, dass Putin die Ukraine erobern und in Russland eingliedern wollte. Vertreter der gängigen Meinung können keine Schriftstücke oder Aussagen von Putin nennen, die darauf hindeuten, dass er die Ukraine erobern wollte.
Wenn man sie zu diesem Punkt befragt, liefern die Verfechter der konventionellen Meinung Hinweise, die wenig oder gar nichts mit Putins Motiven für die Invasion der Ukraine zu tun haben. Einige betonen zum Beispiel, dass er sagte, die Ukraine sei ein „künstlicher Staat“ oder kein „echter Staat“. Solche undurchsichtigen Äußerungen sagen jedoch nichts über die Gründe für seinen Kriegseintritt aus. Dasselbe gilt für Putins Aussage, er betrachte Russen und Ukrainer als „ein Volk“ mit einer gemeinsamen Geschichte. Andere weisen darauf hin, dass er den Zusammenbruch der Sowjetunion als „die größte geopolitische Katastrophe des Jahrhunderts“ bezeichnete. Aber Putin sagte auch: „Wer die Sowjetunion nicht vermisst, hat kein Herz. Wer sie zurückhaben will, hat kein Hirn.“ Andere wiederum verweisen auf eine Rede, in der er erklärte: „Die moderne Ukraine wurde vollständig von Russland geschaffen, genauer gesagt, vom bolschewistischen, kommunistischen Russland.“ Aber das ist kaum ein Beweis dafür, dass er an der Eroberung der Ukraine interessiert war. Außerdem sagte er in der gleichen Rede: „Natürlich können wir die Ereignisse der Vergangenheit nicht ändern, aber wir müssen sie zumindest offen und ehrlich zugeben.“
Um zu beweisen, dass Putin die gesamte Ukraine erobern und Russland einverleiben wollte, muss man nachweisen, dass er 1) dieses Ziel für erstrebenswert hielt, 2) es für machbar hielt und 3) die Absicht hatte, dieses Ziel zu verfolgen. Es gibt in den öffentlichen Aufzeichnungen keine Beweise dafür, dass Putin erwog, geschweige denn beabsichtigte, die Ukraine als unabhängigen Staat zu beenden und sie zu einem Teil Großrusslands zu machen, als er am 24. Februar 2022 seine Truppen in die Ukraine schickte.
Tatsächlich gibt es erhebliche Beweise dafür, dass Putin die Ukraine als unabhängiges Land anerkannte. In seinem bekannten Artikel vom 12. Juli 2021 über die russisch-ukrainischen Beziehungen, der von Befürwortern der konventionellen Meinung oft als Beweis für seine imperialen Ambitionen angeführt wird, sagt er dem ukrainischen Volk: „Ihr wollt einen eigenen Staat gründen: Ihr seid willkommen!“ Zur Frage, wie Russland die Ukraine behandeln sollte, schreibt er: „Es gibt nur eine Antwort: mit Respekt.“ Er schließt seinen langen Artikel mit den folgenden Worten ab: „Und wie die Ukraine aussehen wird – das müssen ihre Bürger entscheiden.“ Diese Aussagen stehen im direkten Widerspruch zu der Behauptung, Putin wolle die Ukraine in ein größeres Russland eingliedern.
In demselben Artikel vom 12. Juli 2021 und erneut in einer wichtigen Rede am 21. Februar 2022 betonte Putin, dass Russland „die neue geopolitische Realität, die nach der Auflösung der UdSSR entstanden ist“, akzeptiere. Diesen Punkt wiederholte er ein drittes Mal am 24. Februar 2022, als er ankündigte, Russland werde in die Ukraine einmarschieren. Insbesondere erklärte er: „Wir haben nicht vor, ukrainisches Territorium zu besetzen“, und machte deutlich, dass er die ukrainische Souveränität respektiere, allerdings nur bis zu einem gewissen Punkt: „Russland kann sich nicht sicher fühlen, sich nicht entwickeln und nicht existieren, wenn es sich einer ständigen Bedrohung durch das Territorium der heutigen Ukraine ausgesetzt sieht.“ Das heißt, Putin war nicht daran interessiert, die Ukraine zu einem Teil Russlands zu machen, sondern er wollte sicherstellen, dass sie nicht zu einem „Sprungbrett“ für westliche Aggressionen gegen Russland wird.
ZWEITENS gibt es keinerlei Hinweise dafür, dass Putin eine Marionettenregierung für die Ukraine vorbereitete, in Kiew prorussische Führungspersönlichkeiten aufbaute oder irgendwelche politischen Maßnahmen verfolgte, die eine Besetzung des gesamten Landes und dessen letztendliche Eingliederung in Russland ermöglichen würden.
Diese Fakten widersprechen der Behauptung, Putin sei daran interessiert gewesen, die Ukraine von der Landkarte zu tilgen.
**DRITTENS: Putin hatte nicht annähernd genug Truppen, um die Ukraine zu erobern. **
Beginnen wir mit den Gesamtzahlen. Ich schätze seit langem, dass die Russen mit höchstens 190.000 Soldaten in die Ukraine einmarschiert sind. General Oleksandr Syrskyi, der derzeitige Oberbefehlshaber der ukrainischen Streitkräfte, sagte kürzlich in einem Interview mit The Guardian, dass die russische Invasionstruppe nur 100.000 Mann stark war. The Guardian hatte diese Zahl bereits vor Beginn des Krieges genannt. Es ist unmöglich, dass eine Truppe von 100.000 oder 190.000 Mann die gesamte Ukraine erobern, besetzen und in ein Großrussland eingliedern könnte.
Bedenken Sie, dass die Wehrmacht beim deutschen Überfall auf die westliche Hälfte Polens im September 1939 etwa 1,5 Millionen Mann zählte. Die Ukraine ist geografisch mehr als dreimal so groß wie die westliche Hälfte Polens im Jahr 1939, und in der Ukraine leben im Jahr 2022 fast doppelt so viele Menschen wie in Polen zum Zeitpunkt des deutschen Überfalls. Wenn wir die Schätzung von General Syrskyi akzeptieren, dass 100.000 russische Truppen im Jahr 2022 in die Ukraine einmarschierten, bedeutet dies, dass Russland über eine Invasionsstreitmacht verfügte, die 1/15 der Größe der deutschen Streitkräfte war, die in Polen einmarschierten. Und diese kleine russische Armee marschierte in ein Land ein, das sowohl territorial als auch von der Bevölkerungszahl her viel größer war als Polen.
Abgesehen von den Zahlen stellt sich die Frage nach der Qualität der russischen Armee. Zunächst einmal handelte es sich um eine militärische Streitkraft, die in erster Linie dazu bestimmt war, Russland vor einer Invasion zu schützen. Es handelte sich nicht um eine Armee, die für eine Großoffensive zur Eroberung der gesamten Ukraine, geschweige denn zur Bedrohung des übrigen Europas, gerüstet war. Außerdem ließ die Qualität der Kampftruppen zu wünschen übrig, da die Russen nicht mit einem Krieg rechneten, als sich die Krise im Frühjahr 2021 zuzuspitzen begann. Daher hatten sie kaum Gelegenheit, eine qualifizierte Invasionstruppe auszubilden. Sowohl qualitativ als auch quantitativ war die russische Invasionstruppe nicht annähernd mit der deutschen Wehrmacht der späten 1930er und frühen 1940er Jahre vergleichbar.
Man könnte argumentieren, dass die russische Führung dachte, das ukrainische Militär sei so klein und so unterlegen, dass ihre Armee die ukrainischen Streitkräfte leicht besiegen und das ganze Land erobern könnte. Tatsächlich wussten Putin und seine Leutnants sehr wohl, dass die Vereinigten Staaten und ihre europäischen Verbündeten das ukrainische Militär seit Ausbruch der Krise am 22. Februar 2014 bewaffnet und ausgebildet hatten. Die große Befürchtung Moskaus war, dass die Ukraine de facto Mitglied der NATO werden würde. Außerdem beobachteten die russischen Führer, wie die ukrainische Armee, die größer war als ihre Invasionstruppen, zwischen 2014 und 2022 im Donbass erfolgreich kämpfte. Ihnen war sicherlich klar, dass das ukrainische Militär kein Papiertiger war, der schnell und entschlossen besiegt werden konnte, zumal es über eine starke Rückendeckung durch den Westen verfügte.
Schließlich waren die Russen im Laufe des Jahres 2022 gezwungen, ihre Armee aus der Oblast Charkiw und aus dem westlichen Teil der Oblast Cherson abzuziehen. Damit gab Moskau Gebiete auf, die seine Armee in den ersten Tagen des Krieges erobert hatte. Es steht außer Frage, dass der Druck der ukrainischen Armee eine Rolle dabei spielte, den russischen Rückzug zu erzwingen. Vor allem aber erkannten Putin und seine Generäle, dass sie nicht über genügend Kräfte verfügten, um das gesamte Gebiet, das ihre Armee in Charkiw und Cherson erobert hatte, zu halten. Also zogen sie sich zurück und schufen besser kontrollierbare Verteidigungspositionen. Dies ist kaum das Verhalten, das man von einer Armee erwarten würde, die aufgebaut und ausgebildet wurde, um die gesamte Ukraine zu erobern und zu besetzen. Tatsächlich war sie für diesen Zweck nicht konzipiert und konnte daher diese Herkulesaufgabe nicht bewältigen.
VIERTENS: In den Monaten vor Kriegsbeginn versuchte Putin, eine diplomatische Lösung für die sich anbahnende Krise zu finden.
Am 17. Dezember 2021 sandte Putin ein Schreiben an Präsident Joe Biden und NATO-Chef Stoltenberg, in dem er eine Lösung der Krise auf der Grundlage einer schriftlichen Garantie vorschlug, dass: 1) die Ukraine der NATO nicht beitreten würde, 2) keine Angriffswaffen in der Nähe der russischen Grenzen stationiert würden und 3) die seit 1997 nach Osteuropa verlegten NATO-Truppen und -Ausrüstung nach Westeuropa zurückverlegt würden. Was auch immer man von der Machbarkeit einer Einigung auf der Grundlage von Putins Eröffnungsforderungen halten mag, über die die Vereinigten Staaten keine Verhandlungen führen wollten, es zeigt, dass er versuchte, einen Krieg zu vermeiden.
FÜNFTENS: Unmittelbar nach Beginn des Krieges hat Russland der Ukraine die Hand gereicht, um Verhandlungen zur Beendigung des Krieges und zur Ausarbeitung eines Modus Vivendi zwischen den beiden Ländern aufzunehmen.
Die Verhandlungen zwischen Kiew und Moskau begannen in Weißrussland nur vier Tage nach dem Einmarsch russischer Truppen in die Ukraine. Diese weißrussische Schiene wurde schließlich durch eine israelische und eine Istanbuler Schiene ersetzt. Alle verfügbaren Beweise deuten darauf hin, dass Russland ernsthaft verhandelte und nicht an der Übernahme ukrainischen Territoriums interessiert war, mit Ausnahme der Krim, die es 2014 annektiert hatte, und möglicherweise des Donbass. Die Verhandlungen endeten, als die Ukrainer auf Drängen Großbritanniens und der Vereinigten Staaten die Verhandlungen abbrachen, die zum Zeitpunkt ihrer Beendigung gute Fortschritte gemacht hatten.
Darüber hinaus berichtet Putin, dass er, als die Verhandlungen stattfanden und Fortschritte machten, gebeten wurde, als Geste des guten Willens die russischen Truppen aus dem Gebiet um Kiew abzuziehen, was er am 29. März 2022 tat. Keine westliche Regierung und kein ehemaliger Politiker hat diese Behauptung Putins angefochten, die in direktem Widerspruch zu seiner Behauptung steht, er wolle die gesamte Ukraine erobern.
SECHSTENS: Abgesehen von der Ukraine gibt es nicht den geringsten Hinweis darauf, dass Putin die Eroberung anderer osteuropäischer Länder ins Auge gefasst hat.
Außerdem ist die russische Armee nicht einmal groß genug, um die gesamte Ukraine zu überrennen, ganz zu schweigen von dem Versuch, die baltischen Staaten, Polen und Rumänien zu erobern. Außerdem sind alle diese Länder NATO-Mitglieder, was mit ziemlicher Sicherheit einen Krieg mit den Vereinigten Staaten und ihren Verbündeten bedeuten würde.
**SIEBTENS: Kaum jemand im Westen behauptete, Putin habe imperiale Ambitionen, seit er im Jahr 2000 die Macht übernahm, bis zum Beginn der Ukraine-Krise am 22. Februar 2014. Zu diesem Zeitpunkt wurde er plötzlich zum imperialen Aggressor. Warum? Weil die westlichen Staats- und Regierungschefs einen Grund brauchten, ihm die Schuld für die Krise zu geben. **
Der wohl beste Beweis dafür, dass Putin in den ersten vierzehn Jahren seiner Amtszeit nicht als ernsthafte Bedrohung angesehen wurde, ist die Tatsache, dass er auf dem NATO-Gipfel im April 2008 in Bukarest ein geladener Gast war, auf dem das Bündnis bekannt gab, dass die Ukraine und Georgien schließlich Mitglieder werden würden. Putin war natürlich erzürnd über diese Entscheidung und machte seinem Unmut Luft. Sein Widerstand gegen diese Ankündigung hatte jedoch kaum Auswirkungen auf Washington, da das russische Militär als zu schwach eingeschätzt wurde, um eine weitere NATO-Erweiterung zu verhindern, so wie es auch bei den Erweiterungswellen von 1999 und 2004 zu schwach gewesen war, um sie aufzuhalten. Der Westen glaubte, er könne Russland die NATO-Erweiterung noch einmal aufzwingen.
Außerdem war die NATO-Erweiterung vor dem 22. Februar 2014 nicht darauf ausgerichtet, Russland einzudämmen. Angesichts des traurigen Zustands der russischen Militärmacht war Moskau nicht in der Lage, die Ukraine zu erobern, geschweige denn eine revanchistische Politik in Osteuropa zu verfolgen. Der ehemalige US-Botschafter in Moskau, Michael McFaul, der ein entschiedener Verfechter der Ukraine und scharfer Kritiker Putins ist, stellt bezeichnenderweise fest, dass die Einnahme der Krim durch Russland im Jahr 2014 vor Ausbruch der Krise nicht geplant war; es war eine impulsive Reaktion auf den Putsch, der den prorussischen Führer der Ukraine stürzte. Kurz gesagt, die NATO-Erweiterung war nicht dazu gedacht, eine russische Bedrohung einzudämmen, weil der Westen nicht glaubte, dass es eine solche gab.
Erst als im Februar 2014 die Ukraine-Krise ausbrach, begannen die Vereinigten Staaten und ihre Verbündeten plötzlich, Putin als gefährlichen Führer mit imperialen Ambitionen und Russland als ernsthafte militärische Bedrohung zu beschreiben, die die NATO eindämmen müsse. Dieser abrupte Wechsel der Rhetorik sollte einem wesentlichen Zweck dienen: dem Westen die Möglichkeit zu geben, Putin für die Krise verantwortlich zu machen und den Westen von der Verantwortung freizusprechen. Es überrascht nicht, dass diese Darstellung Putins nach dem Einmarsch Russlands in die Ukraine am 24. Februar 2022 deutlich an Zugkraft gewann.
Eine Abweichung von der gängigen Meinung ist erwähnenswert. Einige argumentieren, dass die Entscheidung Moskaus, in die Ukraine einzumarschieren, wenig mit Putin selbst zu tun hat und stattdessen Teil einer expansionistischen Tradition ist, die lange vor Putin bestand und tief in der russischen Gesellschaft verwurzelt ist. Dieser Hang zur Aggression, der angeblich von inneren Kräften und nicht von Russlands äußerem Bedrohungsumfeld angetrieben wird, hat im Laufe der Zeit praktisch alle russischen Führer dazu gebracht, sich ihren Nachbarn gegenüber gewalttätig zu verhalten. Es lässt sich nicht leugnen, dass Putin in dieser Geschichte das Sagen hat oder dass er Russland in den Krieg geführt hat, aber es heißt, dass er wenig Einfluss hat. Fast jeder andere russische Führer hätte genauso gehandelt.
Es gibt zwei Probleme mit diesem Argument. Erstens ist es nicht widerlegbar, da der langjährige Charakterzug in der russischen Gesellschaft, der diesen aggressiven Impuls hervorrufe, nie identifiziert wurde. Es heißt, die Russen seien schon immer aggressiv gewesen – egal, wer an der Macht sei – und würden es auch immer sein. Es ist fast so, als ob es in ihrer DNA läge. Die gleiche Behauptung wurde einst über die Deutschen aufgestellt, die im zwanzigsten Jahrhundert oft als angeborene Aggressoren dargestellt wurden. Derartige Argumente werden in der akademischen Welt aus gutem Grund nicht ernst genommen.
Außerdem bezeichnete zwischen 1991 und 2014, als die Ukraine-Krise ausbrach, kaum jemand in den Vereinigten Staaten oder Westeuropa Russland als von Natur aus aggressiv. Außerhalb Polens und der baltischen Staaten wurde die Angst vor russischer Aggression in diesen 24 Jahren nicht häufig geäußert, was man erwarten würde, wenn die Russen zu Aggressionen veranlagt wären. Es scheint klar, dass das plötzliche Auftauchen dieser Argumentation eine bequeme Ausrede war, um Russland die Schuld für den Ukrainekrieg zu geben.
***
Lassen Sie mich einen anderen Gang einlegen und die DREI HAUPTGRÜNDE darlegen, die dafür sprechen, dass die NATO-Erweiterung die Hauptursache für den Ukraine-Krieg war.
**ERSTENS sagten russische Führer aller Art vor Kriegsbeginn wiederholt, dass sie die NATO-Erweiterung in die Ukraine als eine existenzielle Bedrohung betrachten, die beseitigt werden muss. **
Putin hat diese Argumentation bereits vor dem 24. Februar 2022 mehrfach öffentlich dargelegt. In einer Rede vor dem Vorstand des Verteidigungsministeriums am 21. Dezember 2021 erklärte er: „Was sie in der Ukraine tun oder versuchen oder planen, findet nicht Tausende von Kilometern entfernt von unserer Landesgrenze statt. Es geschieht direkt vor unserer Haustür. Sie müssen verstehen, dass wir uns einfach nirgendwo mehr hin zurückziehen können. Glauben sie wirklich, dass wir diese Bedrohungen nicht wahrnehmen? Oder glauben sie, dass wir tatenlos zusehen werden, wie Bedrohungen für Russland entstehen?“ Zwei Monate später, auf einer Pressekonferenz am 22. Februar 2022, nur wenige Tage vor Kriegsbeginn, sagte Putin: „Wir sind kategorisch gegen einen NATO-Beitritt der Ukraine, weil dies eine Bedrohung für uns darstellt, und wir haben Argumente, die dies unterstützen. Ich habe in diesem Saal wiederholt darüber gesprochen.“ Dann machte er deutlich, dass er begreift, dass die Ukraine ein Defacto-Mitglied der NATO werde. Die Vereinigten Staaten und ihre Verbündeten, sagte er, „pumpen die derzeitigen Kiewer Machthaber weiterhin mit modernen Waffentypen voll“. Er fuhr fort, dass Moskau, wenn dies nicht gestoppt werde, „mit einem bis an die Zähne bewaffneten 'Antirussland' dastehen würde. Das ist völlig inakzeptabel.“
Auch andere führende russische Politiker - darunter der Verteidigungsminister, der Außenminister, der stellvertretende Außenminister und der russische Botschafter in Washington - betonten die zentrale Bedeutung der NATO-Erweiterung als Auslöser der Ukraine-Krise. Außenminister Sergej Lawrow brachte es auf einer Pressekonferenz am 14. Januar 2022 auf den Punkt: „Der Schlüssel zu allem ist die Garantie, dass die NATO nicht nach Osten expandieren wird.“
Man hört oft das Argument, die russischen Befürchtungen seien unbegründet, weil es keine Chance gebe, dass die Ukraine dem Bündnis in absehbarer Zukunft beitreten würde, wenn überhaupt. Tatsächlich wird behauptet, die Vereinigten Staaten und ihre europäischen Verbündeten hätten der Aufnahme der Ukraine in die NATO vor dem Krieg wenig Aufmerksamkeit geschenkt. Aber selbst wenn die Ukraine dem Bündnis beitreten würde, wäre dies keine existenzielle Bedrohung für Russland, da die NATO ein Verteidigungsbündnis ist. Daher kann die NATO-Erweiterung weder eine Ursache der ursprünglichen Krise gewesen sein, die im Februar 2014 ausbrach, noch des Krieges, der im Februar 2022 begann.
Diese Argumentation ist falsch. Tatsächlich bestand die westliche Reaktion auf die Ereignisse von 2014 darin, die bestehende Strategie zu verdoppeln und die Ukraine noch näher an die NATO heranzuführen. Das Bündnis begann 2014 mit der Ausbildung des ukrainischen Militärs und bildete in den folgenden acht Jahren durchschnittlich 10.000 Soldaten pro Jahr aus. Im Dezember 2017 beschloss die Trump-Regierung, Kiew mit „Verteidigungswaffen“ zu versorgen. Andere NATO-Länder zogen bald nach und lieferten noch mehr Waffen an die Ukraine. Darüber hinaus begannen die ukrainische Armee, Marine und Luftwaffe, an gemeinsamen Militärübungen mit NATO-Streitkräften teilzunehmen. Die Bemühungen des Westens, das ukrainische Militär zu bewaffnen und auszubilden, erklären zu einem großen Teil, warum es im ersten Kriegsjahr so gut gegen die russische Armee abschnitt. Eine Schlagzeile im Wall Street Journal vom April 2022 lautete: „Das Geheimnis des militärischen Erfolgs der Ukraine: Jahrelange NATO-Ausbildung.“
Abgesehen von den laufenden Bemühungen des Bündnisses, das ukrainische Militär zu einer schlagkräftigeren Kampftruppe zu machen, die an der Seite der NATO-Truppen operieren kann, gab es im Westen im Laufe des Jahres 2021 eine neue Begeisterung für die Aufnahme der Ukraine in die NATO. Gleichzeitig vollzog Präsident Zelensky, der nie viel Enthusiasmus für eine Aufnahme der Ukraine in das Bündnis gezeigt hatte und im März 2019 auf der Grundlage einer Plattform gewählt wurde, die zur Zusammenarbeit mit Russland bei der Beilegung der anhaltenden Krise aufrief, Anfang 2021 einen Kurswechsel und befürwortete nicht nur die NATO-Mitgliedschaft der Ukraine, sondern vertrat auch eine harte Linie gegenüber Moskau.
Präsident Biden, der im Januar 2021 ins Weiße Haus einzog, hatte sich seit langem für die Aufnahme der Ukraine in die NATO eingesetzt und war ein Superfalke gegenüber Russland. Es überrascht nicht, dass die NATO am 14. Juni 2021 auf ihrem jährlichen Gipfel in Brüssel ein Kommuniqué herausgab, in dem es hieß: „Wir bekräftigen den auf dem Gipfel von Bukarest 2008 gefassten Beschluss, dass die Ukraine Mitglied des Bündnisses wird.“ Am 1. September 2021 besuchte Zelensky das Weiße Haus, wo Biden klarstellte, dass die Vereinigten Staaten „fest entschlossen“ seien, „die euro-atlantischen Bestrebungen der Ukraine zu unterstützen“. Am 10. November 2021 unterzeichneten Außenminister Antony Blinken und sein ukrainischer Amtskollege Dmytro Kuleba ein wichtiges Dokument - die „Charta der strategischen Partnerschaft zwischen den USA und der Ukraine“. Das Ziel beider Parteien, so heißt es in dem Dokument, ist es, „das Engagement für die Durchführung tiefgreifender und umfassender Reformen in der Ukraine zu unterstreichen, die für eine vollständige Integration in die europäischen und euro-atlantischen Institutionen erforderlich sind.“ Es bekräftigt auch ausdrücklich das Engagement der USA für die „Bukarester Gipfelerklärung von 2008“.
Es scheint kaum Zweifel daran zu geben, dass die Ukraine auf dem besten Weg war, bis Ende 2021 Mitglied der NATO zu werden. Dennoch argumentieren einige Befürworter dieser Politik, dass sich Moskau keine Sorgen über dieses Ergebnis hätte machen müssen, denn „die NATO ist ein Verteidigungsbündnis und stellt keine Bedrohung für Russland dar“. Aber das ist nicht die Meinung Putins und anderer russischer Politiker über die NATO, und es kommt darauf an, was sie denken. Kurz gesagt, es steht außer Frage, dass Moskau den Beitritt der Ukraine zur NATO als eine existenzielle Bedrohung ansah, die nicht hingenommen werden durfte.
ZWEITENS erkannte eine beträchtliche Anzahl einflussreicher und hoch angesehener Persönlichkeiten im Westen vor dem Krieg, dass die Expansion der NATO – insbesondere in die Ukraine – von der russischen Führung als tödliche Bedrohung angesehen werden und schließlich zur Katastrophe führen würde.
William Burns, der heute die CIA leitet („heute“ leitet John Ratcliffe die CIA, aktualisieren ODER am Anfang des Textes klarstellen, dass er schon älter ist ODER „heute“ streichen und „leitete“ statt „leitet“), aber zum Zeitpunkt des NATO-Gipfels in Bukarest im April 2008 US-Botschafter in Moskau war, verfasste ein Memo an die damalige Außenministerin Condoleezza Rice, in dem er die russischen Überlegungen zur Aufnahme der Ukraine in die Allianz prägnant beschreibt. „Der Beitritt der Ukraine zur NATO“, so schrieb er, „ist für die russische Elite (nicht nur für Putin) die klarste aller roten Linien. In den mehr als zweieinhalb Jahren, in denen ich Gespräche mit den wichtigsten russischen Akteuren geführt habe, von Scharfmachern in den dunklen Nischen des Kremls bis hin zu Putins schärfsten liberalen Kritikern, habe ich noch niemanden gefunden, der die Aufnahme der Ukraine in die NATO als etwas anderes betrachtet als eine direkte Herausforderung für die russischen Interessen.“ Die NATO, so sagte er, „würde als ein strategischer Fehdehandschuh angesehen werden. Das heutige Russland wird darauf reagieren. Die russisch-ukrainischen Beziehungen würden auf Eis gelegt ... Das würde einen fruchtbaren Boden für russische Einmischungen auf der Krim und in der Ostukraine schaffen.“
Burns war 2008 nicht der einzige westliche Entscheidungsträger, der erkannte, dass die Aufnahme der Ukraine in die NATO mit Gefahren verbunden war. Auf dem Bukarester Gipfel sprachen sich sowohl die deutsche Bundeskanzlerin Angela Merkel als auch der französische Präsident Nicolas Sarkozy gegen eine NATO-Mitgliedschaft der Ukraine aus, weil sie wussten, dass dies Russland alarmieren und verärgern würde. Merkel erklärte kürzlich ihre Ablehnung: „Ich war mir sehr sicher, ... dass Putin das nicht einfach zulassen wird. Aus seiner Sicht wäre das eine Kriegserklärung“.
Um noch einen Schritt weiter zu gehen: Zahlreiche amerikanische Politiker und Strategen sprachen sich in den 1990er Jahren gegen die Entscheidung von Präsident Clinton aus, die NATO zu erweitern, als diese Entscheidung noch zur Debatte stand. Diesen Gegnern war von Anfang an klar, dass die russische Führung darin eine Bedrohung ihrer lebenswichtigen Interessen sehen würde und dass diese Politik letztlich in eine Katastrophe münden würde. Die Liste der Gegner umfasst prominente Persönlichkeiten des Establishments wie George Kennan, sowohl Präsident Clintons Verteidigungsminister William Perry als auch seinen Vorsitzenden des Vereinigten Generalstabs, General John Shalikashvili, Paul Nitze, Robert Gates, Robert McNamara, Richard Pipes und Jack Matlock, um nur einige zu nennen.
Die Logik von Putins Position sollte für Amerikaner, die seit langem der Monroe-Doktrin verpflichtet sind, vollkommen verständlich sein. Diese besagt, dass keine entfernte Großmacht ein Bündnis mit einem Land in der westlichen Hemisphäre eingehen und ihre militärischen Streitkräfte dort stationieren darf. Die Vereinigten Staaten würden einen solchen Schritt als existenzielle Bedrohung auffassen und alles tun, um diese Gefahr zu beseitigen. Dies geschah natürlich auch während der Kubakrise 1962, als Präsident Kennedy den Sowjets klar machte, dass ihre Atomraketen aus Kuba abgezogen werden müssten. Putin ist zutiefst von derselben Logik beeinflusst. Schließlich wollen Großmächte nicht, dass sich entfernte Großmächte in ihrem Hinterhof ansiedeln.
DRITTENS: Die zentrale Bedeutung der tiefen Angst Russlands vor einem NATO-Beitritt der Ukraine wird durch zwei Entwicklungen seit Kriegsbeginn verdeutlicht.
Während der Istanbuler Verhandlungen, die unmittelbar nach Beginn der Invasion stattfanden, machten die Russen deutlich, dass die Ukraine eine „dauerhafte Neutralität“ akzeptieren müsse und der NATO nicht beitreten könne. Die Ukrainer akzeptierten die Forderung Russlands ohne ernsthaften Widerstand, sicherlich weil sie wussten, dass es sonst unmöglich wäre, den Krieg zu beenden. In jüngerer Zeit, am 14. Juni 2024, stellte Putin zwei Forderungen, die die Ukraine erfüllen müsse, bevor er einem Waffenstillstand und der Aufnahme von Verhandlungen zur Beendigung des Krieges zustimmen würde. Eine dieser Forderungen war, dass Kiew „offiziell“ erklärt, „dass es seine Pläne, der NATO beizutreten, aufgibt“.
Das alles ist nicht überraschend, denn Russland hat die Ukraine in der NATO immer als existenzielle Bedrohung gesehen, die um jeden Preis verhindert werden muss. Diese Logik ist die treibende Kraft hinter dem Ukraine-Krieg.
Schließlich ist aus der Verhandlungsposition Russlands in Istanbul sowie aus Putins Äußerungen zur Beendigung des Krieges in seiner Ansprache vom 14. Juni 2024 klar ersichtlich, dass er nicht daran interessiert ist, die gesamte Ukraine zu erobern und sie zu einem Teil eines größeren Russlands zu machen.
John Joseph Mearsheimer (* 14. Dezember 1947 in Brooklyn, New York City) ist ein US-amerikanischer Politikwissenschaftler an der University of Chicago. Sein Schwerpunkt ist die Analyse internationaler Beziehungen aus der Perspektive des offensiven Neorealismus, den er erstmals 2001 in seiner Monografie The Tragedy of Great Power Politics darstellte.
Dieser Text von John J. Mearsheimer erschien am 5.8.2024 auf Substack.Vielen Dank für die Genehmigung des Autors zum Abdruck der deutschen Übersetzung. Die Übersetzung wurde von Thomas Mayer erstellt.
Neben der NATO-Osterweiterung gibt es weitere Faktoren die zum Ukraine-Krieg führten, zum Beispiel der Nationalismus in der Ukraine und die Unterdrückung der ethnisch-russischen Bevölkerung.
Ausführlich sind die vielschichtigen Hintergründe des Ukraine-Krieges geschildert in dem Buch von Thomas Mayer: Wahrheitssuche im Ukraine-Krieg – Um was es wirklich geht, 600 Seiten, ISBN 978-3-89060-863-1, Infos zum Buch: https://kurzelinks.de/h10a
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@ cae03c48:2a7d6671
2025-06-08 00:01:17
Bitcoin Magazine
Bitcoin Life Insurer, Meanwhile, Becomes First Company to Publish Audited Financials Denominated in BitcoinMeanwhile Insurance Bitcoin (Bermuda) Limited (“Meanwhile”) announced it has become the first company in the world to release externally audited financial statements denominated entirely in Bitcoin. According to the announcement, the company reported 220.4 BTC in assets and 25.29 BTC in net income for 2024, a 300% year over year increase.
Today marks a global first & historic event for us, along with the public release of our 2024 audited financial statements, covering our 1st year of sales.
As the 1st company in the world to have Bitcoin-denominated financial statements externally audited, we are excited to…
— meanwhile | Bitcoin Life Insurance (@meanwhilelife) June 5, 2025
“We’ve just made history as the first company in the world to have Bitcoin-denominated financial statements externally audited,” said Zac Townsend, CEO of Meanwhile. “This is an important, foundational step in reimagining the financial system based on a single, global, decentralized standard outside the control of any one government.”
The financial statements were audited by Harris & Trotter LLP and its digital asset division ht.digital. Meanwhile’s financials also comply with Bermuda’s Insurance Act 1978, noting that their BTC denominated financials were approved and comply with official guidelines. The firm, fully licensed by the Bermuda Monetary Authority (BMA), operates entirely in BTC and is prohibited from liquidating Bitcoin assets except through policyholder claims, positioning it as a long term holder.
“As the first regulated Bitcoin life insurance company, we view the BTC held by Meanwhile as inherently long-term in nature—primarily held to support the Company’s insurance liabilities over decades,” Townsend added. “This makes it significantly ‘stickier’ and resistant to market pressures compared to the BTC held by other companies as part of their treasury management strategies.”
Meanwhile’s 2024 financials also revealed 23.02 BTC in net premiums and 4.35 BTC in investment income, showing that its model not only preserves Bitcoin, but earns it. The company’s reserves (also held in BTC) were reviewed and approved by Willis Towers Watson (WTW).
Meanwhile also offers a Bitcoin Whole Life insurance product that allows policyholders to save, borrow, and build legacy wealth—entirely in BTC, and has plans to expand globally in 2025.
“We are incredibly proud of today’s news as it underscores how Meanwhile is at the forefront of the next phase of the convergence between Bitcoin and institutional financial markets,” said Tia Beckmann, CFO of Meanwhile. “Now having generated net income in BTC, we have demonstrated that we are earning it through a sustainable insurance business model designed for the long term.”
This post Bitcoin Life Insurer, Meanwhile, Becomes First Company to Publish Audited Financials Denominated in Bitcoin first appeared on Bitcoin Magazine and is written by Jenna Montgomery.
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@ f4a890ce:af88c4aa
2025-06-08 03:59:21
執行摘要
比特幣自橫盤延續，總市值回落至3.24兆美元，成交量下降至591億美元，顯示短線資金趨於觀望。下週操作應聚焦三大關鍵數據：
衍生品市場槓桿與清算動態： 觀察永續合約持倉與資金費率變化。若持倉再度攀升且費率轉為大幅正值，多頭風險將升高；同時留意爆倉價格與清算熱力圖，作為短線波動的前瞻指標。
ETF 資金流向： BTC/ETH ETF 流入與流出數據，是機構資金態度的風向標。若下週出現淨流出，將可能引發價格回調壓力；相反，流入維持則有助於支撐高位盤整。
鏈上資金結構與穩定幣規模： 持續追蹤交易所餘額與鯨魚地址淨流出情況，評估大額資金動向；同時關注穩定幣總市值變化，若有減少，意味避險情緒抬頭，反之則暗示買盤動力仍持續。
總體而言，市場結構仍偏多，但需警惕「高槓桿＋低流動」可能帶來的瞬間波動。建議保持倉位彈性，讓數據引導調整策略，避免在高位盲目追高。
加密市場
本週加密貨幣市場總市值維持在 3.26 兆美元 左右，顯示出市場基本面仍具穩定性。與此同時，當週總成交量下降至 546.84 億美元，反映出市場活躍度減弱，投資者交易意願相對謹慎。
https://coinmarketcap.com/charts/
市場情緒方面，恐懼與貪婪指數降至 52，處於中性範疇，表明投資者對市場前景的情緒有所保留。
https://www.coinglass.com/zh-TW/pro/i/FearGreedIndex
此外，相對強弱指標落在中性至超賣區間，暗示部分標地在短線上可能面臨獲利回吐或技術性修正的壓力，而市場尚未進入絕對弱勢狀態。
https://www.coinglass.com/zh-TW/pro/i/RsiHeatMap
山寨幣季節指數維持在 20，這說明市場資金依舊偏向配置於比特幣及其他主流加密貨幣，中小型代幣並未受到市場資金的大量青睞。
https://www.blockchaincenter.net/en/altcoin-season-index/
穩定幣市值上升至 249.938 億美元，反映出部分資金正積極尋求避險，或準備在市場調整後進行潛在的佈局操作。
https://defillama.com/stablecoins
小結
本週加密市場在總市值維持穩定的同時，成交量的下降顯示出交易熱情的不足，加上恐懼與貪婪指數和相對強弱指標均呈現中性偏弱態勢，整體市場情緒趨向保守。山寨幣季節指數的低迷也反映出資金仍偏向主流幣種，而穩定幣市值的提升則表明投資者正在為市場未來調整或出現更具吸引力的價格點做準備。未來，需持續關注資金流向與宏觀經濟動態，以判斷市場後續走勢。
衍生性商品
槓桿交易需求仍然強勁，本週永續合約持倉規模達 141.68B，雖然較前週有所下降，但仍顯示市場活躍度維持高水準。
https://www.coinglass.com/zh-TW/pro/futures/Cryptofutures
資金費率方面，目前市場呈現 負費率 (-0.0047%)，顯示空方勢力增強，多數交易所的情緒偏向空頭。
https://www.coinglass.com/zh-TW/FundingRate
爆倉數據反映市場波動仍導致大量強制平倉，本週總計空單爆倉達 453.14M，而多單爆倉則達 1267.859M，多頭爆倉金額顯著高於空方，顯示市場對高槓桿多單的清算壓力較大。
其中 6月5日 空單爆倉 88.68M，多單爆倉 875.855M，這一天的市場劇烈波動導致大量強制清算。
https://www.coinglass.com/zh-TW/LiquidationData
清算熱力圖顯示，$106,000 附近 清算金額達 175.11M； $111,000 附近 也有 169.02M 的清算，這些區間可能成為近期市場波動的關鍵點。
https://www.coinglass.com/zh-TW/pro/futures/LiquidationHeatMap
期權市場活躍，投資者在不同價格區間進行對沖與佈局：
$100,000 行權價的看跌期權合約數量達 7.42K，總金額 $25.86M，市場對該區間的防禦仍然較強。
$110,000 行權價的看漲期權合約數量達 13.02K，總金額 $57.61M，顯示市場對上行的預期仍存在，但與上週相比略有下降。
https://www.coinglass.com/zh-TW/pro/options/OIStrike
最大痛點出現在 2025/06/27 的 $100,000，名義金額 12.86B，顯示市場對該區間的交易活動仍較為集中。
https://www.coinglass.com/zh-TW/pro/options/max-pain
小結
本週加密市場顯示槓桿交易活躍度仍然維持高水準，但市場情緒偏向保守，資金費率轉為負值反映空方情緒增強。爆倉數據顯示多頭遭遇較大壓力，投資者在槓桿操作時需謹慎風險管理。期權市場的交易策略仍然分歧，市場在不同行權價格的佈局顯示投資者對後市走勢保持不同預期。建議交易者持續關注市場數據，根據槓桿交易動向調整策略，以降低市場震盪帶來的風險並尋找最佳交易機會。
ETF
本週，加密貨幣衍生性商品市場出現顯著差異，資金流向呈現兩極化現象。比特幣（BTC）ETF方面，本週出現資金流出，金額達6.161億美元。這一變化顯示投資者對比特幣近期走勢產生疑慮，或在調整資金配置，以應對可能的市場風險和波動加劇。
以太坊（ETH）ETF則呈現資金流入趨勢，本週流入金額達 7,020 萬美元。較之於比特幣的趨勢，這一資金流入暗示出部分投資者對以太坊未來潛力充滿信心，特別是在其技術升級和生態系統發展背景下，認為相較於比特幣，ETH更具備吸引力。
https://coinmarketcap.com/zh-tw/etf/
小結
整體而言，本週加密貨幣衍生性商品市場呈現出明顯的資金流向差異。比特幣ETF大幅流出揭示了市場風險偏好的調整，而以太坊ETF的資金流入則表明投資者對其技術發展及生態系統持續看好。未來，投資人需持續關注宏觀經濟環境與技術創新如何影響各加密貨幣衍生性商品的動態，以便在不確定的市場中做出更合適的資金配置決策。
鏈上分析 | BTC
二級交易所的比特幣儲備量再次創下斷崖式新低，顯示出市場上的流動性仍在減少。
地址分布方面，10-100顆比特幣的地址數量持續下降，100-1k、1k-10k及10k以上顆數的地址數量則繼續上升，特別是10k以上地址的數量近期突然激增，顯示大戶的持幣情緒正在加強。
https://cryptoquant.com/community/dashboard/67e2481ba2a7203afd437b31
鯨魚活躍地址數量全數上升，可以得知近期鯨魚們進場的速度逐步加快。
https://cryptoquant.com/community/dashboard/67e2481ba2a7203afd437b31
Exchange Netflow 顯示出近期大額淨流出交易所的情況，這進一步證實了市場上多數投資者偏向長期持有。
Long Term Holder Supply 持續上升，說明持幣155天以上的長期投資者信心未減。
https://www.bitcoinmagazinepro.com/charts/long-term-holder-supply/
URPD 顯示，104,000 美元以上買入的投資人已有被套跡象，若價格再次回落，將觸及 99,000 美元以下的支撐密集區。
https://charts.bgeometrics.com/distribution_realized_price.html
Short-Term Holder Realized Price 為 97,000 美元，短線若修正，此區間可能提供技術性支撐。
https://www.bitcoinmagazinepro.com/charts/short-term-holder-realized-price/
溢價指數方面，Coinbase 溢價指數衝高至 0.105 以上，韓國溢價指數則維持在 2.52，顯示美韓兩地市場買盤情緒仍然正向，整體鏈上結構支撐比特幣中期續強的可能性。
Coinbase Premium Index
Korea Premium Index
小結
本週比特幣鏈上數據顯示多頭格局進一步鞏固，二級交易所儲備量斷崖式下滑至新低，資金持續撤離交易所。
地址分布方面，10–100 BTC 的中小戶數量持續降低，而100–1 k、1 k–10 k及10 k+地址全線上升，尤其10 k+地址近期突增，顯示超級大戶加速佈局；鯨魚活躍地址也全面走高，進場節奏愈發急促。 Exchange Netflow 持續呈現大額淨流出，佐證長線持有趨勢，且 Long‑Term Holder Supply 持續攀升，反映市場偏好長期持有。成本面上，URPD 指標顯示回調後買在104,000美元以上的籌碼深度被套，未來若價格下行將觸及99,000美元以下投資人的成本區。
Short‑Term Holder Realized Price（155天內持幣者平均成本）約97,000美元，此區或成短期支撐，這也恰好和 URPD 指標吻合。
同時，Coinbase 溢價指數維持在0.105以上，韓國溢價指數則穩定於2.52，顯示全球買盤需求穩健。
整體而言，鏈上結構健康，資金流向多為長線建倉，但高位被套壓力與短期成本點仍需密切關注。
總體經濟
本週加密貨幣市場持續受到宏觀經濟環境的顯著影響。聯邦基金有效利率穩定維持在 4.33%，顯示市場仍處於高利率壓制之下，資金流動性受到明顯限制，這一情勢對風險資產尤其是加密市場構成挑戰。
https://fred.stlouisfed.org/series/FEDFUNDS
隨著 6 月 18 日 FOMC 會議臨近，市場普遍預期當前利率大概率將維持在 4.25%-4.50% 區間。然而，投資者亦將目光轉向 9 月 17 日的下一次會議，該會議上 4.0%-4.25% 區間的降息預期不斷攀升，目前已高達 51.8%，顯示市場對中期內利率調整存在明顯的分歧與期待。這種預期上的轉變，既意味著部分市場參與者看好未來資金回流的可能性，也使投資者對當前高利率環境下資產價格波動更加謹慎。
https://www.cmegroup.com/cn-t/markets/interest-rates/cme-fedwatch-tool.html
消費者物價指數 (CPI) 持續維持在 2.33%，顯示通膨壓力穩定而可控；失業率則保持在 4.2%，反映出勞動市場的基本穩健。雖然這些基本面數據表現平穩，卻難以在高利率與流動性緊縮的背景下對加密貨幣價格形成強而有力的支撐，市場參與者更趨於採取保守的投資策略，尤其在高槓桿交易普遍存在的情況下，風險管理顯得尤為重要。
失業率:https://www.macromicro.me/series/37/unemployment-rate
消費者物價指數（CPI):https://www.macromicro.me/series/128/consumer-price-index-sa-yoy
小結
整體而言，加密市場依舊面臨高利率環境帶來的流動性限制與價格波動風險。雖然短期內市場情緒偏保守，但 9 月 17 日會議上降息預期的上升，或將為未來市場帶來積極轉機。投資者應持續關注 FOMC 會議及最新經濟數據變化，謹慎調整交易策略以應對可能出現的轉機與挑戰。
新聞
Ripple 的穩定幣 RLUSD 在杜拜獲得批准
https://www.coindesk.com/markets/2025/06/03/ripples-stablecoin-rlusd-gets-stamp-of-approval-in-dubai
MoonPay 在紐約獲得令人垂涎的 BitLicense
https://www.coindesk.com/policy/2025/06/04/moonpay-grabs-coveted-bitlicense-approval-in-new-york
穩定幣正悄悄增強美國國力
https://www.coindesk.com/opinion/2025/06/04/stablecoins-are-quietly-reinforcing-u-s-national-power
韓國選舉加密貨幣友善總統李在明為新總統
Circle 首次公開募股 (IPO) 定價為每股 31 美元，穩定幣發行人估值為 69 億美元
香港即將允許加密貨幣衍生性商品交易
https://www.coindesk.com/policy/2025/06/05/hong-kong-set-to-allow-crypto-derivatives-trading
-
@ a296b972:e5a7a2e8
2025-06-07 16:39:47
Nur für‘s Protokoll. Hiermit erkläre ich, Georg Ohrweh, im tatsächlich vorhandenen vollen Besitz meiner geistigen Kräfte, dass Herr Lauterbach, gleich welche Position er in Zukunft noch bekleiden sollte, für mich nicht zuständig ist. Basta.
Ein Erguss dieses verhaltensoriginellen Über-alles-Bescheidwissers:
„Wir kommen jetzt in eine Phase hinein, wo der Ausnahmezustand die Normalität sein wird. Wir werden ab jetzt immer im Ausnahmezustand sein. Der Klimawandel wird zwangsläufig mehr Pandemien bringen.“
Wie kann es sein, dass solch eine Ausnahme-Gestalt, die schon rein äußerlich die Phantasie zu Vergleichen anregt, sich leider auch genauso verhält, wie die Gestalten, die in diesen Phantasien vorkommen, ungebremst auf der Panik-Klaviatur kakophonische Klänge erzeugen darf? Obwohl ein wenig Wahrheit ist auch enthalten: Wir sind tatsächlich immer im Ausnahmezustand, im Ausnahmezustand des fortgeschrittenen Wahnsinns.
Wie kann es sein, dass dieser Haaaarvardist seinen persönlich empfundenen Ausnahmezustand zum Allgemeingut erklären kann? Welche Verknüpfungs-Phantasien hat er sonst noch studiert? Er ist ja auch noch Vorsitzender im Raumfahrtausschuss. Was kommt als Nächstes? Eine Klima-Pandemie, verursacht durch außerirdische Viren, die die Temperaturen beeinflussen können? Im aktuellen Zeitgeist gibt es nichts, was nicht gedacht wird. Wem die besseren Absurditäten einfallen, der gewinnt. Man muss sich schon den gegebenen Denkstrukturen etwas anpassen, aber sich auch ein wenig Mühe geben.
Nach dem Wechsel der ehemaligen Außen-Dings zur UN (mit dem Ziel, aus den Vereinten Nationen die Feministischen Nationen zu gestalten) und des ehemaligen Wirtschafts-Dings in den Außenausschuss und als Gastdozent in Kalifornien (Thema: Wirtschaftsvernichtung unter Einbeziehung des gespannten Verhältnisses unter Geschwistern aufgrund ärmlicher Verhältnisse, am Beispiel des Märchens von Hänsel und Gretel) , jetzt auch noch der ehemalige Chef-Panikmacher zur WHO.
…und der Wahnsinn wurde hinausgetragen in die Welt, und es wurde dunkel, und es ward Nacht, und es wurde helle, und es ward Tag, der Wind blies oder auch nicht (was macht der Wind eigentlich, wenn er nicht weht?), und es ward Winter, und es wurde kälter, und es wurde wärmer, und es ward Sommer. Es regnete nicht mehr, die Wolken schwitzten. Und Putin verhinderte (wer auch sonst), dass das Eis in der Antarktis abnahm.
Wiederholte Bodentemperaturen in der Toskana von 50 Grad Celsius. Zu erwartende Wassertemperaturen während Ferragosto an der italienischen Adria von durchschnittlich 100 Grad Celsius. An Stellen mit wenig Strömung stiegen schon die ersten Kochblasen auf. Doch dann kam der durch Lachs gestählte, salzlose Super-Karl und rettete mit einem durch die WHO diktierten Klima-Logdown die gesamte Menschheit. Wer besser, als er konnte wissen, dass ein Klima-Logdown weitgehend nebenwirkungsfrei ist.
Was für ein Segen, dass Karl der Große, der uns so siegreich durch die Corona-Schlacht geführt hat, jetzt auch gegen das Klima in den Krieg zieht.
Wer kennt das nicht, Tage der Qual, in denen man zugeben muss: Ich hab‘ heute so schlimm Klima.
Viele Klimaexperten, die weltweit in der Qualitätspropaganda zitiert werden, zeichnen sich besonders dadurch aus, dass sie mit einer maximalen Abweichung von einem Grad Celsius ein Thermometer fehlerfrei ablesen können. Diese Ungenauigkeit wird der Erdverkochungsexperte sicher als erstes beheben.
In einer aufopfernden Studie während eines Urlaubs in 2023, in der um die damalige Zeit erstmals eisfreien Toskana, hat er den von ihm ausgetüftelten Klimaschutzplan ins Rheinische übersetzt. Titel: „Schützen Sie sisch, und, äh, andere!“ Weiter konnte er erforschen, dass die Bodentemperatur nicht immer mit der Temperatur des Erdkerns übereinstimmen muss.
Durch seine unermüdlichen Studien, können Hitzetote in Zukunft besser zugeordnet werden. Man weiß dann, ob jemand an hohen oder mit hohen Temperaturen gestorben ist. Der asymptomatische Klimawandel kann so in Zukunft viel besser bewertet werden. Man hat aus geringfügigen Fehlern gelernt und die Methoden erheblich verbessert.
Eine präzise Vorhersage der Jahreszeiten, vor allem die des Sommers, wird bald ebenfalls möglich sein. Es kann jetzt vor jahreszeitbedingten, teilweise sogar täglich schwankenden Temperaturveränderungen rechtzeitig gewarnt werden. Im Herbst können Heizempfehlungen für die ahnungslose Bevölkerung herausgegeben werden. Frieren war gestern, wissen wann es kalt wird, ist heute. Es wird an Farben geforscht, die noch roter sein sollen, als die, die jetzt in den Wetterkarten bei 21 Grad bereits verwendet werden.
Eine allgemeine Heizpflicht soll es europaweit zunächst nicht geben.
Weiter soll die Lichteinstrahlung der Sonne noch präziser bestimmt werden, damit den Europäern, in Ergänzung zur mitteleuropäischen Sommerzeit, jetzt auch noch genau mitgeteilt werden kann, wann es Tag und wann es Nacht ist.
Das Hinausschauen aus dem Fenster, zum Beispiel, ob es schon dunkel draußen ist, erübrigt sich. Die Tageszeit, in Ergänzung zur herkömmlichen Uhrzeit, wird demnächst automatisch mit dem Klima-Pass übermittelt werden. Zu Anfang natürlich erst einmal freiwillig.
Durch die persönliche ID können dann auch schnell und unkompliziert Sonderprämien überwiesen werden, sofern man sich klimakonform verhalten hat, damit man sich rechtzeitig vor Winterbeginn eine warme Jacke oder einen Mantel kaufen kann. Das Sparen von Bargeld auf eine bevorstehende größere Anschaffung von Winterkleidung wird somit überflüssig.
Ob es am Ende nun um Hitze oder Kälte geht, spielt eigentlich gar keine Rolle, denn wie wussten schon die Ahnen zu berichten: Was gut für die Kälte ist, ist auch gut für die Wärme.
Westliche Mächte unternehmen immer wieder Versuche, eskalierend auf den Ukraine-Konflikt einzuwirken, damit man atombetriebene Heizpilze aufstellen kann, an denen sich die Europäer im Winter auch im Freien wärmen können.
Wie praktisch, dass man nicht nur Gesundheit und Klima, sondern auch Klima und Krieg miteinander verbinden kann. Alles so, oder so ähnlich möglicherweise nachzulesen im genialen Hitzeschutzplan á la Lauterbach.
Besonders Deutschland braucht nicht nur lauterbachsche Hitzeschutzräume, nein es braucht atomsichere Hitzeschutzbunker, so schlägt man gleich zwei Fliegen mit einer Klappe.
Für die, die es sich leisten können, hier ein Vorschlag. Der K2000:
Für die weniger gut Betuchten reicht auch ein kühles Kellerloch, das man idealerweise im Februar beziehen und nicht vor November wieder verlassen sollte, so die Empfehlung auch von führenden Klima-Forschern, die es ja wissen müssen. Von Dezember bis Januar empfiehlt sich ein Besuch auf den Bahamas, besonders dann, wenn man eine leichte Erkältung verspürt.
Nur Verschwörungstheoretiker behaupten, dass die eigenartigen Anschlussverwendungen der Extrem-Kapazitäten, zu denen Lauterbach ohne Zweifel dazugehört, wie dicke rote Pfeile wirken, die auf Institutionen und Organisationen zeigen, um die man unter allen Umständen einen großen Bogen machen sollte, weil sie möglicherweise nichts Gutes im Schilde führen. Minimal sollen sie angeblich Unsinn verbreiten, maximal sollen sie gehörigen Schaden anrichten.
Man muss sich nur ein paar Gedanken machen, schon kann man feststellen, wie alles mit allem zusammenhängt.
“Dieser Beitrag wurde mit dem Pareto-Client geschrieben.”
* *
(Bild von pixabay)
-
@ 77c2969e:a33cfa50
2025-06-08 07:10:04
Nostr 协议在我看来是很先进的，暂时使用的人还不多，不过相比 Fediverse 的 Mastodon 之类，自己部署 Nostr Relay 是成本很小的。Blossom 作为媒体上传服务是可选的，因为有几个公共服务器可用，但是大多数国内无法直连。我还发现部分客户端不支持自定义 Blossom 服务器，只有 Amethyst 和 Nostrmo 可以。
我目前使用的是这个 nostr-relay 以及这个 blossom-server。
nostr-relay
这个用 Python 写的 nostr-relay 很不错。
配置文件是这个： https://code.pobblelabs.org/fossil/nostr_relay/file?name=nostr_relay/config.yaml 可以按需修改，自己用默认就够了。
```jsx
先安装 pipx
apt install pipx
再用 pipx 安装 nostr-relay
pipx install nostr-relay
选择一个目录运行以下命令启动默认配置，默认 SQLite 文件在当前目录
nostr-relay serve
后台运行
(nostr-relay serve >/var/log/nostr-relay.log &)
查看 PID
lsof -i :6969
停止运行
kill PID
后台运行命令会调用 gunicorn 运行而不是nostr-relay，因此会搜不到 nostr-relay 进程，可以尝试这个命令
ps -ef | grep gunicorn
`` 反代127.0.0.1:6969` 配置域名和 SSL 证书即可。保持简洁，不使用 Docker 和 systemd，后续迁移时只需复制整个文件夹即可。
blossom-server
clone 这个仓库
git clone https://github.com/hzrd149/blossom-server.git克隆仓库是必要的，因为 blossom-server 的默认页面依赖
public/目录，请保留该目录。用以下
config.yml和docker-compose.yml覆盖原仓库中的文件然后执行
docker compose up -d反代
127.0.0.1:3000配置域名和 SSL 证书即可。config.yml按需修改，比如 Dashboard 密码、允许的 PubKey 等。 ```
Override the domain thats is used in the blobs "url" field
By default it uses the domain the incoming HTTP request was made on
publicDomain: ""
databasePath: data/sqlite.db
dashboard: # enable or disable the admin dashboard enabled: true # admin username username: admin # if password is left blank it will be generated each time the app starts password: "yourpasswd"
文件发现机制，保持默认关闭
discovery: # find files by querying nostr relays nostr: enabled: false relays: - wss://relay.example.com # find files by asking upstream CDNs # NOTE: do not set this to your own server, it will create an infinite loop upstream: enabled: false domains: - https://cdn.example.com
storage: # local or s3 backend: local
# Imminently removes a blob when there are no owners removeWhenNoOwners: false
# local storage local: dir: ./data/blobs
# see minio docs for options: # https://min.io/docs/minio/linux/developers/javascript/API.html#new-minio-client-endpoint-port-usessl-accesskey-secretkey-region-transport-sessiontoken-partsize # s3: # endpoint: https://s3.endpoint.com # port: 443 # bucket: blossom # accessKey: xxxxxxxx # secretKey: xxxxxxxxx # useSSL: true # region: us-east-1 # If this is set the server will redirect clients when loading blobs # publicURL: https://s3.region.example.com/
# rules are checked in descending order. if a blob matches a rule it is kept # "type" (required) the type of the blob, "" can be used to match any type # "expiration" (required) time passed since last accessed # "pubkeys" (optional) a list of owners # any blobs not matching the rules will be removed rules: - type: "" expiration: 100 years pubkeys: - "change-to-your-pubkey-hex"
Config for the /upload endpoint
upload: # enable / disable uploads (default false) enabled: true # require auth to upload requireAuth: true # only check rules that include "pubkeys" requirePubkeyInRule: true
Config for the /media endpoint
media: # /media endpoint enabled (default false) enabled: true # require auth to upload to /media requireAuth: true # only check rules that include "pubkeys" requirePubkeyInRule: true
# image optimization options image: # image quality 0-100 (default 90) quality: 90 # create progressive jpeg / png images for large images > 1024x768 (default true) progressive: true # max width (default 1920) maxWidth: 1920 # max height (default 1080) maxHeight: 1080 # image format (default webp) outputFormat: "webp" # keep aspect radio when resizing (default true) maintainAspectRatio: true # keep EXIF metadata (default false) keepExif: false # fps for GIFs (default 30) fps: 30
video: # video quality 0-100 (default 90) quality: 90 # max height (default 1080) maxHeight: 1080 # max fps (default 30) maxFps: 30 # output format [mp4, webm, mkv] (default mp4) format: "webm" # audio codec [aac, mp3, vorbis, opus] (default aac) audioCodec: "aac" # video codec [libx264, libx265, vp8, vp9] (default libx264) videoCodec: "libx264"
list: requireAuth: false allowListOthers: true
tor: enabled: false proxy: "" ```
docker-compose.ymlservices: blossom: image: ghcr.io/hzrd149/blossom-server:master ports: - 3000:3000 volumes: # mount data volume - ./data:/app/data # mount config file - ./config.yml:/app/config.yml # mount custom www dir - ./public:/app/public
其他
我自己目前就是部署的这两个服务自用。主要是方便部署和维护，后续服务器迁移只需要复制文件夹即可。Blossom 媒体服务自用的话，默认使用服务器本地存储即可，就是在项目文件夹中的
./data/blobs/，上传的图片和视频会被自动压缩，占不了多少存储空间。如果公开或多人使用也可以配置 S3 兼容的对象存储。除了我上面说的这个 nostr-relay，还有一个 Rust 写的 nostr-rs-relay，可以 Docker 一键部署，如果你偏好使用 Docker，也可以选择这个。
如果你也对 Nostr 这个去中心化协议感兴趣，想拥有自己的 Nostr 服务，不妨参考本文试试，欢迎留言交流！
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-
@ dfa02707:41ca50e3
2025-06-07 13:01:45
Contribute to keep No Bullshit Bitcoin news going.
This update brings key enhancements for clarity and usability:
- Recent Blocks View: Added to the Send tab and inspired by Mempool's visualization, it displays the last 2 blocks and the estimated next block to help choose fee rates.
- Camera System Overhaul: Features a new library for higher resolution detection and mouse-scroll zoom support when available.
- Vector-Based Images: All app images are now vectorized and theme-aware, enhancing contrast, especially in dark mode.
- Tor & P2A Updates: Upgraded internal Tor and improved support for pay-to-anchor (P2A) outputs.
- Linux Package Rename: For Linux users, Sparrow has been renamed to sparrowwallet (or sparrowserver); in some cases, the original sparrow package may need manual removal.
- Additional updates include showing total payments in multi-payment transaction diagrams, better handling of long labels, and other UI enhancements.
- Sparrow v2.2.1 is a bug fix release that addresses missing UUID issue when starting Tor on recent macOS versions, icons for external sources in Settings and Recent Blocks view, repackaged
.debinstalls to use older gzip instead of zstd compression, and removed display of median fee rate where fee rates source is set to Server.
Learn how to get started with Sparrow wallet:
Release notes (v2.2.0)
- Added Recent Blocks view to Send tab.
- Converted all bitmapped images to theme aware SVG format for all wallet models and dialogs.
- Support send and display of pay to anchor (P2A) outputs.
- Renamed
sparrowpackage tosparrowwalletandsparrowserveron Linux. - Switched camera library to openpnp-capture.
- Support FHD (1920 x 1080) and UHD4k (3840 x 2160) capture resolutions.
- Support camera zoom with mouse scroll where possible.
- In the Download Verifier, prefer verifying the dropped file over the default file where the file is not in the manifest.
- Show a warning (with an option to disable the check) when importing a wallet with a derivation path matching another script type.
- In Cormorant, avoid calling the
listwalletdirRPC on initialization due to a potentially slow response on Windows. - Avoid server address resolution for public servers.
- Assume server address is non local for resolution failures where a proxy is configured.
- Added a tooltip to indicate truncated labels in table cells.
- Dynamically truncate input and output labels in the tree on a transaction tab, and add tooltips if necessary.
- Improved tooltips for wallet tabs and transaction diagrams with long labels.
- Show the address where available on input and output tooltips in transaction tab tree.
- Show the total amount sent in payments in the transaction diagram when constructing multiple payment transactions.
- Reset preferred table column widths on adjustment to improve handling after window resizing.
- Added accessible text to improve screen reader navigation on seed entry.
- Made Wallet Summary table grow horizontally with dialog sizing.
- Reduced tooltip show delay to 200ms.
- Show transaction diagram fee percentage as less than 0.01% rather than 0.00%.
- Optimized and reduced Electrum server RPC calls.
- Upgraded Bouncy Castle, PGPainless and Logback libraries.
- Upgraded internal Tor to v0.4.8.16.
- Bug fix: Fixed issue with random ordering of keystore origins on labels import.
- Bug fix: Fixed non-zero account script type detection when signing a message on Trezor devices.
- Bug fix: Fixed issue parsing remote Coldcard xpub encoded on a different network.
- Bug fix: Fixed inclusion of fees on wallet label exports.
- Bug fix: Increase Trezor device libusb timeout.
Linux users: Note that the
sparrowpackage has been renamed tosparrowwalletorsparrowserver, and in some cases you may need to manually uninstall the originalsparrowpackage. Look in the/optfolder to ensure you have the new name, and the original is removed.What's new in v2.2.1
- Updated Tor library to fix missing UUID issue when starting Tor on recent macOS versions.
- Repackaged
.debinstalls to use older gzip instead of zstd compression. - Removed display of median fee rate where fee rates source is set to Server.
- Added icons for external sources in Settings and Recent Blocks view
- Bug fix: Fixed issue in Recent Blocks view when switching fee rates source
- Bug fix: Fixed NPE on null fee returned from server
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@ b1ddb4d7:471244e7
2025-06-07 13:01:07
When Sergei talks about bitcoin, he doesn’t sound like someone chasing profits or followers. He sounds like someone about to build a monastery in the ruins.
While the mainstream world chases headlines and hype, Sergei shows up in local meetups from Sacramento to Cleveland, mentors curious minds, and shares what he knows is true – hoping that, with the right spark, someone will light their own way forward.
We interviewed Sergei to trace his steps: where he started, what keeps him going, and why teaching bitcoin is far more than explaining how to set up a node – it’s about reaching the right minds before the noise consumes them. So we began where most journeys start: at the beginning.
First Steps
- So, where did it all begin for you and what made you stay curious?
I first heard about bitcoin from a friend’s book recommendation, American Kingpin, the book about Silk Road (online drug marketplace). He is still not a true bitcoiner, although I helped him secure private keys with some bitcoin.
I was really busy at the time – focused on my school curriculum, running a 7-bedroom Airbnb, and working for a standardized test prep company. Bitcoin seemed too technical for me to explore, and the pace of my work left no time for it.
After graduating, while pursuing more training, I started playing around with stocks and maximizing my savings. Passive income seemed like the path to early retirement, as per the promise of the FIRE movement (Financial Independence, Retire Early). I mostly followed the mainstream news and my mentor’s advice – he liked preferred stocks at the time.
I had some Coinbase IOUs and remember sending bitcoin within the Coinbase ledger to a couple friends. I also recall the 2018 crash; I actually saw the legendary price spike live but couldn’t benefit because my funds were stuck amidst the frenzy. I withdrew from that investment completely for some time. Thankfully, my mentor advised to keep en eye on bitcoin.
Around late 2019, I started DCA-ing cautiously. Additionally, my friend and I were discussing famous billionaires, and how there was no curriculum for becoming a billionaire. So, I typed “billionaires” into my podcast app, and landed on We Study Billionaires podcast.
That’s where I kept hearing Preston Pysh mention bitcoin, before splitting into his own podcast series, Bitcoin Fundamentals. I didn’t understand most of the terminology of stocks, bonds, etc, yet I kept listening and trying to absorb it thru repetition. Today, I realize all that financial talk was mostly noise.
When people ask me for a technical explanation of fiat, I say: it’s all made up, just like the fiat price of bitcoin! Starting in 2020, during the so-called pandemic, I dove deeper. I religiously read Bitcoin Magazine, scrolled thru Bitcoin Twitter, and joined Simply Bitcoin Telegram group back when DarthCoin was an admin.
DarthCoin was my favorite bitcoiner – experienced, knowledgeable, and unapologetic. Watching him shift from rage to kindness, from passion to despair, gave me a glimpse at what a true educator’s journey would look like.
The struggle isn’t about adoption at scale anymore. It’s about reaching the few who are willing to study, take risks, and stay out of fiat traps. The vast majority won’t follow that example – not yet at least… if I start telling others the requirements for true freedom and prosperity, they would certainly say “Hell no!”
- At what point did you start teaching others, and why?
After college, I helped teach at a standardized test preparation company, and mentored some students one-on-one. I even tried working at a kindergarten briefly, but left quickly; Babysitting is not teaching.
What I discovered is that those who will succeed don’t really need my help – they would succeed with or without me, because they already have the inner drive.
Once you realize your people are perishing for lack of knowledge, the only rational thing to do is help raise their level of knowledge and understanding. That’s the Great Work.
I sometimes imagine myself as a political prisoner. If that were to happen, I’d probably start teaching fellow prisoners, doctors, janitors, even guards. In a way we already live in an open-air prison, So what else is there to do but teach, organize, and conspire to dismantle the Matrix?
Building on Bitcoin
- You hosted some in-person meetups in Sacramento. What did you learn from those?
My first presentation was on MultiSig storage with SeedSigner, and submarine swaps through Boltz.exchange.
I realized quickly that I had overestimated the group’s technical background. Even the meetup organizer, a financial advisor, asked, “How is anyone supposed to follow these steps?” I responded that reading was required… He decided that Unchained is an easier way.
At a crypto meetup, I gave a much simpler talk, outlining how bitcoin will save the world, based on a DarthCoin’s guide. Only one person stuck around to ask questions – a man who seemed a little out there, and did not really seem to get the message beyond the strength of cryptographic security of bitcoin.
Again, I overestimated the audience’s readiness. That forced me to rethink my strategy. People are extremely early and reluctant to study.
- Now in Ohio, you hold sessions via the Orange Pill App. What’s changed?
My new motto is: educate the educators. The corollary is: don’t orange-pill stupid normies (as DarthCoin puts it).
I’ve shifted to small, technical sessions in order to raise a few solid guardians of this esoteric knowledge who really get it and can carry it forward.
The youngest attendee at one of my sessions is a newborn baby – he mostly sleeps, but maybe he still absorbs some of the educational vibes.
- How do local groups like Sactown and Cleveland Bitcoiners influence your work?
Every meetup reflects its local culture. Sacramento and Bay Area Bitcoiners, for example, do camping trips – once we camped through a desert storm, shielding our burgers from sand while others went to shoot guns.
Cleveland Bitcoiners are different. They amass large gatherings. They recently threw a 100k party. They do a bit more community outreach. Some are curious about the esoteric topics such as jurisdiction, spirituality, and healthful living.
I have no permanent allegiance to any state, race, or group. I go where I can teach and learn. I anticipate that in my next phase, I’ll meet Bitcoiners so advanced that I’ll have to give up my fiat job and focus full-time on serious projects where real health and wealth are on the line.
Hopefully, I’ll be ready. I believe the universe always challenges you exactly to your limit – no less, no more.
- What do people struggle with the most when it comes to technical education?
The biggest struggle isn’t technical – it’s a lack of deep curiosity. People ask “how” and “what” – how do I set up a node, what should one do with the lightning channels? But very few ask “why?”
Why does on-chain bitcoin not contribute to the circular economy? Why is it essential to run Lightning? Why did humanity fall into mental enslavement in the first place?
I’d rather teach two-year-olds who constantly ask “why” than adults who ask how to flip a profit. What worries me most is that most two-year-olds will grow up asking state-funded AI bots for answers and live according to its recommendations.
- One Cleveland Bitcoiner shows up at gold bug meetups. How valuable is face-to-face education?
I don’t think the older generation is going to reverse the current human condition. Most of them have been under mind control for too long, and they just don’t have the attention span to study and change their ways.
They’re better off stacking gold and helping fund their grandkids’ education. If I were to focus on a demographic, I’d go for teenagers – high school age – because by college, the indoctrination is usually too strong, and they’re chasing fiat mastery.
As for the gold bug meetup? Perhaps one day I will show up with a ukulele to sing some bitcoin-themed songs. Seniors love such entertainment.
- How do you choose what to focus on in your sessions, especially for different types of learners?
I don’t come in with a rigid agenda. I’ve collected a massive library of resources over the years and never stopped reading. My browser tab and folder count are exploding.
At the meetup, people share questions or topics they’re curious about, then I take that home, do my homework, and bring back a session based on those themes. I give them the key takeaways, plus where to dive deeper.
Most people won’t – or can’t – study the way I do, and I expect attendees to put in the work. I suspect that it’s more important to reach those who want to learn but don’t know how, the so-called nescient (not knowing), rather than the ignorant.
There are way too many ignorant bitcoiners, so my mission is to find those who are curious what’s beyond the facade of fake reality and superficial promises.
That naturally means that fewer people show up, and that’s fine. I’m not here for the crowds; I’m here to educate the educators. One bitcoiner who came decided to branch off into self-custody sessions and that’s awesome. Personally, I’m much more focused on Lightning.
I want to see broader adoption of tools like auth, sign-message, NWC, and LSPs. Next month, I’m going deep into eCash solutions, because let’s face it – most newcomers won’t be able to afford their own UTXO or open a lightning channel; additionally, it has to be fun and easy for them to transact sats, otherwise they won’t do it. Additionally, they’ll need to rely on
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@ d6affa19:9110b177
2025-06-07 21:10:53
If there were only one thing I had to list as the single most effective way to improve a Female Led Relationship (FLR), it would be found in the phrase “yes, Ma’am.” Whether trying to get the dynamic off the ground or keep it going during the grind of everyday life, this phrase—and the energy it evokes—encompasses so many essential elements of an FLR. In my experience, not many other things continuously breathe life into a relationship like the magic of “yes, Ma’am.”
Of course, this phrase can be modified to the Woman’s desire (“yes, Mistress,” “yes, my Queen,” “yes, Goddess” are common examples), but “yes, Ma’am” is something acceptable nearly anywhere. It’s simple, polite, somewhat discreet, and yet extremely effective and powerful. In an FLR (even in a low-protocol dynamic), the phrase is elevated from a basic formality to an invocation of trust, respect, and surrender.
The words by themselves are powerless. But when consistently expressed with the right energy and intention, it becomes a sort of miniature ritual that keeps them both anchored to the relationship. This shouldn’t be conflated with “yes, Dear,” a phrase stereotypically used when a man is merely appeasing a Woman. No, the energy here is not to appease, but to please. Because She deserves it.
To illustrate this further, let’s dig into the depth I find in these two words.
An Invocation of Structure, Trust, and Identity
“Yes, Ma’am” is so deceptively simple. It’s a verbal expression of his obedience—the bare minimum a Woman should receive in an FLR. And it keeps the framework intact in everyday life, especially when the mood is subtle or non-sexual.
In this way, “yes, Ma’am” reinforces the foundation of the FLR. Each utterance reminds them both of their positions. Each declaration quiets any confusion. Each delivery deepens the dynamic and tightens the structure.
When these words are spoken and consistently followed up with action, they demonstrate emotional maturity—that he’s moved beyond questioning whether She’s “right” and into the realm of devotion. It signals to Her that Her needs don’t have to be proven to him anymore and that Her preferences don’t need to be justified.
He’s no longer debating Her logic, making excuses, or searching for loopholes; he’s no longer resisting or self-protecting. He’s not agreeing as an equal, he’s not negotiating with Her, he’s not hedging Her demand. He is simply submitting to Her.
Just as it’s “yes, Ma’am” when She tells him to kneel, it’s also “yes, Ma’am” when She asks him to fix the sink, or dismisses a request, or even reminds him to do something he’s about to do. “Yes, Ma’am,” then act.
The Words Alone Are Not the Magic
Again, the magic of “yes, Ma’am” doesn’t reside in the words themselves, but in the intention, energy, and action behind them. The phrase itself is just a vessel. Just as a chalice, the words hold something sacred, but the sanctity resides in the wine, not the cup. The action, the delivery, and the consistency are what give the phrase its power.
If spoken with resentment, sarcasm, or with no follow-through, they mean nothing. If he speaks them but then delays, argues, or makes excuses, then his submission is inauthentic. This undermines trust and, ultimately, the relationship. But when he says “yes, Ma’am” and immediately acts on Her direction—despite being tired, flustered, aroused, or even in disagreement, then that is real submission; that is profound trust. And that is what She feels.
And that’s what he feels. It becomes a reminder of his humility and an expression of self-discipline in service to Her. Over time, it shifts his thought patterns and instincts. He may feel uncertainty, self-pity, or insecurity, but “yes, Ma’am” melts it all into clarity. Old responses like “Well, actually…” “Can’t I just…” “I thought we agreed…” “Why can’t You…” are simply replaced with “yes, Ma’am.”
Even if he’s feeling exhausted, annoyed, or needy. There are no complaints or explanations, only Her will and a choice to put aside his ego, align with Her rhythm, and re-center his purpose. This is an act of vulnerability. He is placing his emotional safety in Her hands and relying on Her to care for his well-being.
It communicates to Her:
- “I hear You.”
- “I will act on Your desires.”
- “I trust You more than I trust my resistance.”
- “I’m Yours, even now, especially now.”And let’s not ignore the erotic undertones in this depth of surrender. A simple phrase makes his discipline audible, echoing Her power. It bears his humility, longing, eagerness, vulnerability—his contained arousal. And She knows. She hears the plea. She feels the weight—the tension—the heat—the surrendered will… Ever-present, even in the most mundane moments…
Closing Thoughts
Of course, this level of devotion takes practice and a great deal of trust. No one is perfect, so he will fail at times, but that’s what makes it so beautiful—it’s a continuously active and conscious choice. And, at first, it may sound awkward for him or forced, but with dedication and intention She will begin to hear the tone, feel the vibe, and sense the sincerity in it. This energy is what builds Her trust in him.
This phrase, or rather the mindset behind it, has improved my own relationship so, so much. While it may not fit into every experience, it’s something that I discovered was a missing piece in mine. Enough so that I felt compelled to share.
Because as a relationship goes on, things change—passions fluctuate, pain resurfaces, doubts arise, life gets busy, things get heavy—but “yes, Ma’am” remains steady and intimate. Piece by piece trust and devotion are built with thousands of quiet yeses. And regardless of the circumstances, “yes, Ma’am” gently whispers “this is still us; this is still our shared truth; this is still sacred” over and over again.
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@ 9ca447d2:fbf5a36d
2025-06-07 12:02:11
Trump Media & Technology Group (TMTG), the company behind Truth Social and other Trump-branded digital platforms, is planning to raise $2.5 billion to build one of the largest bitcoin treasuries among public companies.
The deal involves the sale of approximately $1.5 billion in common stock and $1.0 billion in convertible senior secured notes.
According to the company, the offering is expected to close by the end of May, pending standard closing conditions.
Devin Nunes, CEO of Trump Media, said the investment in bitcoin is a big part of the company’s long-term plan.
“We view Bitcoin as an apex instrument of financial freedom,” Nunes said.
“This investment will help defend our Company against harassment and discrimination by financial institutions, which plague many Americans and U.S. firms.”
He added that the bitcoin treasury will be used to create new synergies across the company’s platforms including Truth Social, Truth+, and the upcoming financial tech brand Truth.Fi.
“It’s a big step forward in the company’s plans to evolve into a holding company by acquiring additional profit-generating, crown jewel assets consistent with America First principles,” Nunes said.
The $2.5 billion raise will come from about 50 institutional investors. The $1 billion in convertible notes will have 0% interest and be convertible into shares at a 35% premium.
TMTG’s current liquid assets, including cash and short-term investments, are $759 million as of the end of the first quarter of 2025. With this new funding, the company’s liquid assets will be over $3 billion.
Custody of the bitcoin treasury will be handled by Crypto.com and Anchorage Digital. They will manage and store the digital assets.
Earlier this week The Financial Times reported Trump Media was planning to raise $3 billion for digital assets acquisitions.
The article said the funds would be used to buy bitcoin and other digital assets, and an announcement could come before a major related event in Las Vegas.
Related: Bitcoin 2025 Conference Kicks off in Las Vegas Today
Trump Media denied the FT report. In a statement, the company said, “Apparently the Financial Times has dumb writers listening to even dumber sources.”
There was no further comment. However, the official $2.5 billion figure, which was announced shortly after by Trump Media through a press release, aligns with its actual filing and investor communication.
Trump Media’s official announcement
This comes at a time when the Trump family and political allies are showing renewed interest in Bitcoin.
President Donald Trump who is now back in office since the 2025 election, has said he wants to make the U.S. the “crypto capital of the world.”
Trump Media is also working on retail bitcoin investment products including ETFs aligned with America First policies.
These products will make bitcoin more accessible to retail investors and support pro-Trump financial initiatives.
But not everyone is happy.
Democratic Senator Elizabeth Warren recently expressed concerns about Trump Media’s Bitcoin plans. She asked U.S. regulators to clarify their oversight of digital-asset ETFs, warning of investor risk.
Industry insiders are comparing Trump Media’s plans to Strategy (MSTR) which has built a multi-billion dollar bitcoin treasury over the last year. They used stock and bond sales to fund their bitcoin purchases.
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@ 9ca447d2:fbf5a36d
2025-06-08 05:01:05
JPMorgan Chase, the largest bank in the U.S. and one of the most powerful institutions in global finance, is going deeper into Bitcoin. The bank is reportedly going to allow wealthy clients to use shares of Bitcoin ETFs—specifically BlackRock’s iShares Bitcoin Trust (IBIT) — as collateral for loans.
This is a big move from the Wall Street giant and a sign of how traditional finance is changing the way it treats bitcoin.
According to a Bloomberg report, JPMorgan will let trading and wealth-management clients borrow money using digital asset ETFs like IBIT as collateral—the same way clients might use stocks, real estate or even cars.
The bank will also factor clients’ digital asset holdings into calculations of net worth and liquidity. So now, bitcoin will be treated like real estate or company shares when assessing a client’s loan repayment ability.
This is set to launch in the coming weeks and will start with IBIT which has over $70 billion in assets. IBIT is now the largest spot bitcoin ETF in the world and has far outpaced competitors like Fidelity’s FBTC.
Previously JPMorgan only allowed bitcoin ETFs as collateral on a case-by-case basis, Bloomberg reports. This decision will now make it available to all wealth-management clients.
JPMorgan’s new Bitcoin-friendly strategy comes despite its CEO Jamie Dimon’s long-time skepticism of Bitcoin. For years, Dimon has been one of the most vocal critics of Bitcoin, calling it a tool for criminals and comparing it to a “pet rock.”
But in a change of heart, Dimon recently said the bank would allow clients to buy bitcoin. At JPMorgan’s annual Investor Day, he said, “I don’t think you should smoke, but I defend your right to smoke. I defend your right to buy bitcoin.”
Related: JPMorgan Chase to Allow Clients to Buy Bitcoin, Says CEO Jamie Dimon
While Dimon remains personally unconvinced about the long-term value of bitcoin, the bank seems to be moving forward with embracing bitcoin, a move Bitcoin advocates believe is rooted in fear of missing out on possible profits and losing market share.
JPMorgan is following the trend on Wall Street. Other big financial players like Fidelity, Grayscale, and Standard Chartered have launched services for clients to invest or trade bitcoin.
The approval of Bitcoin ETFs by the U.S. SEC in 2024 has opened the door to millions of investors who were hesitant to enter the Bitcoin space.
Institutional interest is surging as the political landscape is also opening doors for digital assets. Under President Donald Trump’s administration, several Bitcoin-friendly policy changes have been introduced.
In April 2025, the Federal Reserve withdrew past guidance that discouraged banks from working with digital asset companies. Soon after, the US Office of the Comptroller of the Currency confirmed banks could hold customer’s bitcoin in custody.
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@ cae03c48:2a7d6671
2025-06-07 15:01:39
Bitcoin Magazine
Bitcoin Life Insurer, Meanwhile, Becomes First Company to Publish Audited Financials Denominated in BitcoinMeanwhile Insurance Bitcoin (Bermuda) Limited (“Meanwhile”) announced it has become the first company in the world to release externally audited financial statements denominated entirely in Bitcoin. According to the announcement, the company reported 220.4 BTC in assets and 25.29 BTC in net income for 2024, a 300% year over year increase.
Today marks a global first & historic event for us, along with the public release of our 2024 audited financial statements, covering our 1st year of sales.
As the 1st company in the world to have Bitcoin-denominated financial statements externally audited, we are excited to…
— meanwhile | Bitcoin Life Insurance (@meanwhilelife) June 5, 2025
“We’ve just made history as the first company in the world to have Bitcoin-denominated financial statements externally audited,” said Zac Townsend, CEO of Meanwhile. “This is an important, foundational step in reimagining the financial system based on a single, global, decentralized standard outside the control of any one government.”
The financial statements were audited by Harris & Trotter LLP and its digital asset division ht.digital. Meanwhile’s financials also comply with Bermuda’s Insurance Act 1978, noting that their BTC denominated financials were approved and comply with official guidelines. The firm, fully licensed by the Bermuda Monetary Authority (BMA), operates entirely in BTC and is prohibited from liquidating Bitcoin assets except through policyholder claims, positioning it as a long term holder.
“As the first regulated Bitcoin life insurance company, we view the BTC held by Meanwhile as inherently long-term in nature—primarily held to support the Company’s insurance liabilities over decades,” Townsend added. “This makes it significantly ‘stickier’ and resistant to market pressures compared to the BTC held by other companies as part of their treasury management strategies.”
Meanwhile’s 2024 financials also revealed 23.02 BTC in net premiums and 4.35 BTC in investment income, showing that its model not only preserves Bitcoin, but earns it. The company’s reserves (also held in BTC) were reviewed and approved by Willis Towers Watson (WTW).
Meanwhile also offers a Bitcoin Whole Life insurance product that allows policyholders to save, borrow, and build legacy wealth—entirely in BTC, and has plans to expand globally in 2025.
“We are incredibly proud of today’s news as it underscores how Meanwhile is at the forefront of the next phase of the convergence between Bitcoin and institutional financial markets,” said Tia Beckmann, CFO of Meanwhile. “Now having generated net income in BTC, we have demonstrated that we are earning it through a sustainable insurance business model designed for the long term.”
This post Bitcoin Life Insurer, Meanwhile, Becomes First Company to Publish Audited Financials Denominated in Bitcoin first appeared on Bitcoin Magazine and is written by Jenna Montgomery.
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@ b1ddb4d7:471244e7
2025-06-07 14:00:42
When Sergei talks about bitcoin, he doesn’t sound like someone chasing profits or followers. He sounds like someone about to build a monastery in the ruins.
While the mainstream world chases headlines and hype, Sergei shows up in local meetups from Sacramento to Cleveland, mentors curious minds, and shares what he knows is true – hoping that, with the right spark, someone will light their own way forward.
We interviewed Sergei to trace his steps: where he started, what keeps him going, and why teaching bitcoin is far more than explaining how to set up a node – it’s about reaching the right minds before the noise consumes them. So we began where most journeys start: at the beginning.
First Steps
- So, where did it all begin for you and what made you stay curious?
I first heard about bitcoin from a friend’s book recommendation, American Kingpin, the book about Silk Road (online drug marketplace). He is still not a true bitcoiner, although I helped him secure private keys with some bitcoin.
I was really busy at the time – focused on my school curriculum, running a 7-bedroom Airbnb, and working for a standardized test prep company. Bitcoin seemed too technical for me to explore, and the pace of my work left no time for it.
After graduating, while pursuing more training, I started playing around with stocks and maximizing my savings. Passive income seemed like the path to early retirement, as per the promise of the FIRE movement (Financial Independence, Retire Early). I mostly followed the mainstream news and my mentor’s advice – he liked preferred stocks at the time.
I had some Coinbase IOUs and remember sending bitcoin within the Coinbase ledger to a couple friends. I also recall the 2018 crash; I actually saw the legendary price spike live but couldn’t benefit because my funds were stuck amidst the frenzy. I withdrew from that investment completely for some time. Thankfully, my mentor advised to keep en eye on bitcoin.
Around late 2019, I started DCA-ing cautiously. Additionally, my friend and I were discussing famous billionaires, and how there was no curriculum for becoming a billionaire. So, I typed “billionaires” into my podcast app, and landed on We Study Billionaires podcast.
That’s where I kept hearing Preston Pysh mention bitcoin, before splitting into his own podcast series, Bitcoin Fundamentals. I didn’t understand most of the terminology of stocks, bonds, etc, yet I kept listening and trying to absorb it thru repetition. Today, I realize all that financial talk was mostly noise.
When people ask me for a technical explanation of fiat, I say: it’s all made up, just like the fiat price of bitcoin! Starting in 2020, during the so-called pandemic, I dove deeper. I religiously read Bitcoin Magazine, scrolled thru Bitcoin Twitter, and joined Simply Bitcoin Telegram group back when DarthCoin was an admin.
DarthCoin was my favorite bitcoiner – experienced, knowledgeable, and unapologetic. Watching him shift from rage to kindness, from passion to despair, gave me a glimpse at what a true educator’s journey would look like.
The struggle isn’t about adoption at scale anymore. It’s about reaching the few who are willing to study, take risks, and stay out of fiat traps. The vast majority won’t follow that example – not yet at least… if I start telling others the requirements for true freedom and prosperity, they would certainly say “Hell no!”
- At what point did you start teaching others, and why?
After college, I helped teach at a standardized test preparation company, and mentored some students one-on-one. I even tried working at a kindergarten briefly, but left quickly; Babysitting is not teaching.
What I discovered is that those who will succeed don’t really need my help – they would succeed with or without me, because they already have the inner drive.
Once you realize your people are perishing for lack of knowledge, the only rational thing to do is help raise their level of knowledge and understanding. That’s the Great Work.
I sometimes imagine myself as a political prisoner. If that were to happen, I’d probably start teaching fellow prisoners, doctors, janitors, even guards. In a way we already live in an open-air prison, So what else is there to do but teach, organize, and conspire to dismantle the Matrix?
Building on Bitcoin
- You hosted some in-person meetups in Sacramento. What did you learn from those?
My first presentation was on MultiSig storage with SeedSigner, and submarine swaps through Boltz.exchange.
I realized quickly that I had overestimated the group’s technical background. Even the meetup organizer, a financial advisor, asked, “How is anyone supposed to follow these steps?” I responded that reading was required… He decided that Unchained is an easier way.
At a crypto meetup, I gave a much simpler talk, outlining how bitcoin will save the world, based on a DarthCoin’s guide. Only one person stuck around to ask questions – a man who seemed a little out there, and did not really seem to get the message beyond the strength of cryptographic security of bitcoin.
Again, I overestimated the audience’s readiness. That forced me to rethink my strategy. People are extremely early and reluctant to study.
- Now in Ohio, you hold sessions via the Orange Pill App. What’s changed?
My new motto is: educate the educators. The corollary is: don’t orange-pill stupid normies (as DarthCoin puts it).
I’ve shifted to small, technical sessions in order to raise a few solid guardians of this esoteric knowledge who really get it and can carry it forward.
The youngest attendee at one of my sessions is a newborn baby – he mostly sleeps, but maybe he still absorbs some of the educational vibes.
- How do local groups like Sactown and Cleveland Bitcoiners influence your work?
Every meetup reflects its local culture. Sacramento and Bay Area Bitcoiners, for example, do camping trips – once we camped through a desert storm, shielding our burgers from sand while others went to shoot guns.
Cleveland Bitcoiners are different. They amass large gatherings. They recently threw a 100k party. They do a bit more community outreach. Some are curious about the esoteric topics such as jurisdiction, spirituality, and healthful living.
I have no permanent allegiance to any state, race, or group. I go where I can teach and learn. I anticipate that in my next phase, I’ll meet Bitcoiners so advanced that I’ll have to give up my fiat job and focus full-time on serious projects where real health and wealth are on the line.
Hopefully, I’ll be ready. I believe the universe always challenges you exactly to your limit – no less, no more.
- What do people struggle with the most when it comes to technical education?
The biggest struggle isn’t technical – it’s a lack of deep curiosity. People ask “how” and “what” – how do I set up a node, what should one do with the lightning channels? But very few ask “why?”
Why does on-chain bitcoin not contribute to the circular economy? Why is it essential to run Lightning? Why did humanity fall into mental enslavement in the first place?
I’d rather teach two-year-olds who constantly ask “why” than adults who ask how to flip a profit. What worries me most is that most two-year-olds will grow up asking state-funded AI bots for answers and live according to its recommendations.
- One Cleveland Bitcoiner shows up at gold bug meetups. How valuable is face-to-face education?
I don’t think the older generation is going to reverse the current human condition. Most of them have been under mind control for too long, and they just don’t have the attention span to study and change their ways.
They’re better off stacking gold and helping fund their grandkids’ education. If I were to focus on a demographic, I’d go for teenagers – high school age – because by college, the indoctrination is usually too strong, and they’re chasing fiat mastery.
As for the gold bug meetup? Perhaps one day I will show up with a ukulele to sing some bitcoin-themed songs. Seniors love such entertainment.
- How do you choose what to focus on in your sessions, especially for different types of learners?
I don’t come in with a rigid agenda. I’ve collected a massive library of resources over the years and never stopped reading. My browser tab and folder count are exploding.
At the meetup, people share questions or topics they’re curious about, then I take that home, do my homework, and bring back a session based on those themes. I give them the key takeaways, plus where to dive deeper.
Most people won’t – or can’t – study the way I do, and I expect attendees to put in the work. I suspect that it’s more important to reach those who want to learn but don’t know how, the so-called nescient (not knowing), rather than the ignorant.
There are way too many ignorant bitcoiners, so my mission is to find those who are curious what’s beyond the facade of fake reality and superficial promises.
That naturally means that fewer people show up, and that’s fine. I’m not here for the crowds; I’m here to educate the educators. One bitcoiner who came decided to branch off into self-custody sessions and that’s awesome. Personally, I’m much more focused on Lightning.
I want to see broader adoption of tools like auth, sign-message, NWC, and LSPs. Next month, I’m going deep into eCash solutions, because let’s face it – most newcomers won’t be able to afford their own UTXO or open a lightning channel; additionally, it has to be fun and easy for them to transact sats, otherwise they won’t do it. Additionally, they’ll need to rely on
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@ 57d1a264:69f1fee1
2025-06-08 06:39:26
18-07 HOLIDAY HOME by OFFICE INAINN reimagines the traditional hytte, creating two interconnected cabins, H_G30 and H_G32, located near the scenic Geiranger–Trollstigen route. Set on a steep hillside 148 meters above sea level, the design embraces modern functionality while offering stunning southern views of Storfjorden and minimizing environmental impact.
Blending into the Landscape
The cabins are designed to integrate gently into the natural terrain, following the contours of the hillside. Their horizontal layout reduces the visual impact, blending into the forested surroundings while opening up to the fjord. The minimal footprint respects the environment and reduces construction costs, ensuring the cabins remain nearly invisible from the north while fully engaging with the southern panorama.
Functional, Additive Architecture
Inspired by traditional Norwegian architecture, each cabin consists of two overlapping modules of varying heights, breaking up the building mass and reducing roof size. The higher module serves as the circulation space, while the lower module contains the private and living areas. This approach replaces conventional walls with functional form, creating distinct zones for movement, utility, and relaxation.
Harmonizing Tradition with Modern Living
The cabins follow an east-west retaining wall that mirrors the hill’s natural slope, with additional storage and leisure spaces tucked behind. The shallow depth allows maximum southern exposure for light and views, while the central axis blurs the boundary between indoor and outdoor living, creating a seamless connection to nature.
For more info https://inainn.eu/18-07-holiday-home/
https://stacker.news/items/1000386
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@ 7f6db517:a4931eda
2025-06-07 14:01:26
What is KYC/AML?
- The acronym stands for Know Your Customer / Anti Money Laundering.
- In practice it stands for the surveillance measures companies are often compelled to take against their customers by financial regulators.
- Methods differ but often include: Passport Scans, Driver License Uploads, Social Security Numbers, Home Address, Phone Number, Face Scans.
- Bitcoin companies will also store all withdrawal and deposit addresses which can then be used to track bitcoin transactions on the bitcoin block chain.
- This data is then stored and shared. Regulations often require companies to hold this information for a set number of years but in practice users should assume this data will be held indefinitely. Data is often stored insecurely, which results in frequent hacks and leaks.
- KYC/AML data collection puts all honest users at risk of theft, extortion, and persecution while being ineffective at stopping crime. Criminals often use counterfeit, bought, or stolen credentials to get around the requirements. Criminals can buy "verified" accounts for as little as $200. Furthermore, billions of people are excluded from financial services as a result of KYC/AML requirements.
During the early days of bitcoin most services did not require this sensitive user data, but as adoption increased so did the surveillance measures. At this point, most large bitcoin companies are collecting and storing massive lists of bitcoiners, our sensitive personal information, and our transaction history.
Lists of Bitcoiners
KYC/AML policies are a direct attack on bitcoiners. Lists of bitcoiners and our transaction history will inevitably be used against us.
Once you are on a list with your bitcoin transaction history that record will always exist. Generally speaking, tracking bitcoin is based on probability analysis of ownership change. Surveillance firms use various heuristics to determine if you are sending bitcoin to yourself or if ownership is actually changing hands. You can obtain better privacy going forward by using collaborative transactions such as coinjoin to break this probability analysis.
Fortunately, you can buy bitcoin without providing intimate personal information. Tools such as peach, hodlhodl, robosats, azteco and bisq help; mining is also a solid option: anyone can plug a miner into power and internet and earn bitcoin by mining privately.
You can also earn bitcoin by providing goods and/or services that can be purchased with bitcoin. Long term, circular economies will mitigate this threat: most people will not buy bitcoin - they will earn bitcoin - most people will not sell bitcoin - they will spend bitcoin.
There is no such thing as KYC or No KYC bitcoin, there are bitcoiners on lists and those that are not on lists.
If you found this post helpful support my work with bitcoin.
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@ 9ca447d2:fbf5a36d
2025-06-07 12:01:58
CANNES, FRANCE – May 2025 — Bitcoin mining made its mark at the world’s most prestigious film gathering this year as Puerto Rican director and producer Alana Mediavilla introduced her feature documentary Dirty Coin: The Bitcoin Mining Documentary at the Marché du Film during the Cannes Film Festival.
The film puts bitcoin mining at the center of a rising global conversation about energy, technology, and economic freedom.
Dirty Coin is the first feature-length documentary to explore bitcoin mining through immersive, on-the-ground case studies.
From rural towns in the United States to hydro-powered sites in Latin America and the Congo, the film follows miners and communities navigating what may be one of the most misunderstood technologies of our time.
The result is a human-centered look at how bitcoin mining is transforming local economies and energy infrastructure in real ways.
To mark its Cannes debut, Mediavilla and her team hosted a packed industry event that brought together leaders from both film and finance.
Dirty Coin debut ceremony at the Marché du Film
Sponsors Celestial Management, Sangha Renewables, Nordblock, and Paystand.org supported the program, which featured panels on mining, energy use, and decentralized infrastructure.
Attendees had the rare opportunity to engage directly with pioneers in the space. A special session in French led by Seb Gouspillou spotlighted mining efforts in the Congo’s Virunga region.
Dirty Coin builds on Mediavilla’s award-winning short film Stranded, which won over 20 international prizes, including Best Short Documentary at Cannes in 2024.
That success helped lay the foundation for the feature and positioned Mediavilla as one of the boldest new voices in global documentary filmmaking.
Alana Mediavilla speaks at the Marché du Film — Cannes Film Festival
“If we’ve found an industry that can unlock stranded energy and turn it into real power for people—especially in regions with energy poverty—why wouldn’t we look into it?” says Mediavilla. “Our privilege blinds us.
“The same thing we criticize could be the very thing that lifts the developing world to our standard of living. Ignoring that potential is a failure of imagination.”
Much like the decentralized network it explores, Dirty Coin is spreading globally through grassroots momentum.
Local leaders are hosting independent screenings around the world, from Roatán and Berlin to São Paulo and Madrid. Upcoming events include Toronto and Zurich, with more cities joining each month.
Mediavilla, who previously worked in creative leadership roles in the U.S. — including as a producer at Google — returned to Puerto Rico to found Campo Libre, a studio focused on high-caliber, globally relevant storytelling from the Caribbean.
She was also accepted into the Cannes Producers Network, a selective program open only to producers with box office releases in the past four years.
Mediavilla qualified after independently releasing Dirty Coin in theaters across Puerto Rico. Her participation in the network gave her direct access to meetings, insights, and connections with the most active distributors and producers working today.
The film’s next public screening will take place at the Anthem Film Festival in Palm Springs on Saturday, June 14 at 2 PM. Additional screenings and market appearances are planned throughout the year at Bitcoin events and international film platforms.
Dirty Coin at the Cannes Film Festival
Watch the Trailer + Access Press Materials
📂 EPK
🎬 Screener
🌍 Host a Screening
Follow the Movement
Instagram: https://www.instagram.com/dirty_coin_official/
Twitter: https://x.com/DirtyCoinDoc
Website: www.dirtycointhemovie.com -
@ 57d1a264:69f1fee1
2025-06-08 06:27:45
HTX Studio received a special email. The letter writer's daughter was unfortunately run over by a heavy truck on her way to school, and her right hand permanently lost its function. When using the computer, her hands have to frequently switch between the keyboard and the mouse, which makes typing very slow and tiring. He wanted us to make a one-handed keyboard for his daughter.
https://www.youtube.com/watch?v=9vW12gQ4Klc
The project has just been open-sourced at https://github.com/htx-studio/One-Handed-Keyboard and hopes to be helpful to those who need it. In English for you below:
One-Handed Keyboard
This is a single-mode mechanical keyboard with integrated trackball. The firmware uses QMK . Thanks to all the developers who have contributed to the QMK community.
Keyboard production reference: [Mr. He] We made a special keyboard...
Open source hardware: HTXStudio one-handed keyboard
The development environment and setup are available here , and the firmware source code is available here .
The information in this warehouse includes:
- A total of 8 PCBs for three keyboards for the left and right hands, provided by EasyEDA Engineering.
- VIA key change configuration file and compiled firmware.
- Model design files.
Warehouse directory structure
Docs
Data sheet and pictures of the chip.
Firmware
QMK firmware for three different keyboard models, and JSON files for VIA key changes.
Hardware
Project files of Jialichuang EDA.
Model
Model files and processing files used by each keyboard model.
Production Guide
PCB：
1-Right-hand keyboard-hot-swappable (large): board material FR-4, board thickness 1.6mm, four-layer board, laminate structure JLC04161H-3313, impedance control +/-20%.
1-Left-hand keyboard-welding board (small): board material FR-4, board thickness 1.6mm, double-layer board, ALPS yellow axis needs to be installed with a little force when inserted.
1-Left-hand keyboard-hot-swappable (large): board material FR-4, board thickness 1.6mm, four-layer board, laminate structure JLC04161H-3313, impedance control +/-20%.
2-TypeC: board material FR-4, board thickness 1.6mm, double-layer board, marked CON1 (only for large keyboards).
3-Trackball: board material FR-4, board thickness 1.6mm, double-layer board, the module needs to pay attention to the welding direction, marked CON3.
4- Mouse wheel: board material FR-4, board thickness 1.6mm, double-layer board, it is recommended to use 7mm high encoder, 6mm high button, button trigger pressure ≤180g, marked CON2.
5-Directional buttons: board material FR-4, board thickness 1.6mm, double-layer board, ALPS yellow shaft needs to be inserted with a little force, marked CON4.
6- Main control board - left hand (small): board material FR-4, board thickness 1.6mm, double-layer board.
- Three of them are keyboard-controlled common boards
《3-轨迹球》《4-鼠标滚轮》《5-方向按键》. 《5-方向按键》And《1-左手键盘-焊板(小)》, the key axis uses ALPS yellow axis.- Note that the left and right hand keyboards are not completely mirrored.
- The trackball control uses SPI1 channel, and the scroll wheel has two separate signal lines, which allows replacing other control devices without major adjustments.
- The main control uses STM32G431CBU6.
- Compatible with A to C or C to C data cables.
Printout:
Keycap: resin, PLA, etc.
Trackball seat: resin, PLA, etc.
Left and right mouse buttons: resin, PLA, etc.
Shell: resin, PLA, etc.
Base: resin, PLA, etc.
Processing:
Positioning plate: Recommended material: pom, thickness 1.5mm.
Positioning plate cotton strip: glue left on one side.
Sandwich cotton: Recommended material is poron, 3.5mm thick.
Axle seat cotton: 2mm thick.
Bottom cotton: Recommended material: poron, 4mm thick.
Silicone pad (for keypad only): 5mm thick, hardness Shore 00-10.
other:
Trackball: diameter 25mm, material PTFE.
Lubricating ball: 2mm diameter, made of PTFE, installed in the printed trackball seat, 6 pieces in number.
Roller: Recommended diameter is between 19mm-20mm, thickness is between 4mm-5mm, and material is metal.
Satellite axis: 2U steel plate satellite axis.
Key switches: 57 ultra-small ALPS yellow switches for the small keyboard and 57 common mechanical switches for the large keyboard.
Cable arrangement: spacing 0.5mm, 8P reverse, 10cm2 strips, 15cm2 strips.
- The FPC sockets of the control board and the small board are both marked with CON, and the corresponding interfaces are connected.
- The file uses an FPC cable holder that can be connected up and down. It should be noted that when the cable holders are connected down, use reverse cable connection.
Model structure:
Installation order:
Take the large keyboard as an example
Pre-assembly work
- First, connect the 4 small PCBs to the keyboard body PCB using cables and burn the program.
- Install 3-5 shafts, rollers and trackballs. Make sure they function normally before assembly.
- Install the correct hot-melt copper nuts at the corresponding positions of the printed shell and base.
- Keycap printing.
- Attach the cotton strips to the protruding parts of the positioning plate (both on the front and back sides).
When burning the firmware for the first time, you can press and hold the button marked "B" on the back of the PCB and then plug in the USB cable to burn the firmware.
If you want to update the firmware, you can press and hold the "ESC" key on the keyboard and then insert the USB cable to burn the firmware.
For more information, please refer to Flashing Your Keyboard (QMK)
Next, start assembling
- Use screws to install the 4 small boards to the corresponding positions of the base (pay attention to the wiring and installation direction), and install screws at the bottom of the trackball base.
- Fix the left and right buttons on the keyboard PCB with screws.
- From bottom to top, place the bottom cotton, shaft seat cotton, keyboard PCB, sandwich cotton and positioning plate into the fan-shaped area of the base in order.
- Insert the key switch.
- Put it into the housing and secure it with screws from the bottom.
- Install the keycaps to complete the assembly.
The screw and nut installation guide can be found here
Finally, this is our first open source project. If there are any shortcomings, you are welcome to criticize and correct us. Thank you.
References
Quantum Mechanical Keyboard Firmware
mrjohnk. ADNS-9800. GitHub repository
https://x.com/HTX_Studio/status/1929915992349782206
https://stacker.news/items/1000384
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@ 7f6db517:a4931eda
2025-06-07 14:01:25
People forget Bear Stearns failed March 2008 - months of denial followed before the public realized how bad the situation was under the surface.
Similar happening now but much larger scale. They did not fix fundamental issues after 2008 - everything is more fragile.
The Fed preemptively bailed out every bank with their BTFP program and First Republic Bank still failed. The second largest bank failure in history.
There will be more failures. There will be more bailouts. Depositors will be "protected" by socializing losses across everyone.
Our President and mainstream financial pundits are currently pretending the banking crisis is over while most banks remain insolvent. There are going to be many more bank failures as this ponzi system unravels.
Unlike 2008, we have the ability to opt out of these broken and corrupt institutions by using bitcoin. Bitcoin held in self custody is unique in its lack of counterparty risk - you do not have to trust a bank or other centralized entity to hold it for you. Bitcoin is also incredibly difficult to change by design since it is not controlled by an individual, company, or government - the supply of dollars will inevitably be inflated to bailout these failing banks but bitcoin supply will remain unchanged. I do not need to convince you that bitcoin provides value - these next few years will convince millions.
If you found this post helpful support my work with bitcoin.
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@ 7f6db517:a4931eda
2025-06-07 14:01:25
"Privacy is necessary for an open society in the electronic age. Privacy is not secrecy. A private matter is something one doesn't want the whole world to know, but a secret matter is something one doesn't want anybody to know. Privacy is the power to selectively reveal oneself to the world." - Eric Hughes, A Cypherpunk's Manifesto, 1993
Privacy is essential to freedom. Without privacy, individuals are unable to make choices free from surveillance and control. Lack of privacy leads to loss of autonomy. When individuals are constantly monitored it limits our ability to express ourselves and take risks. Any decisions we make can result in negative repercussions from those who surveil us. Without the freedom to make choices, individuals cannot truly be free.
Freedom is essential to acquiring and preserving wealth. When individuals are not free to make choices, restrictions and limitations prevent us from economic opportunities. If we are somehow able to acquire wealth in such an environment, lack of freedom can result in direct asset seizure by governments or other malicious entities. At scale, when freedom is compromised, it leads to widespread economic stagnation and poverty. Protecting freedom is essential to economic prosperity.
The connection between privacy, freedom, and wealth is critical. Without privacy, individuals lose the freedom to make choices free from surveillance and control. While lack of freedom prevents individuals from pursuing economic opportunities and makes wealth preservation nearly impossible. No Privacy? No Freedom. No Freedom? No Wealth.
Rights are not granted. They are taken and defended. Rights are often misunderstood as permission to do something by those holding power. However, if someone can give you something, they can inherently take it from you at will. People throughout history have necessarily fought for basic rights, including privacy and freedom. These rights were not given by those in power, but rather demanded and won through struggle. Even after these rights are won, they must be continually defended to ensure that they are not taken away. Rights are not granted - they are earned through struggle and defended through sacrifice.
If you found this post helpful support my work with bitcoin.
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@ 7f6db517:a4931eda
2025-06-07 14:01:24
Bank run on every crypto bank then bank run on every "real" bank.
— ODELL (@ODELL) December 14, 2022
Good morning.
It looks like PacWest will fail today. It will be both the fifth largest bank failure in US history and the sixth major bank to fail this year. It will likely get purchased by one of the big four banks in a government orchestrated sale.
March 8th - Silvergate Bank
March 10th - Silicon Valley Bank
March 12th - Signature Bank
March 19th - Credit Suisse
May 1st - First Republic Bank
May 4th - PacWest Bank?PacWest is the first of many small regional banks that will go under this year. Most will get bought by the big four in gov orchestrated sales. This has been the playbook since 2008. Follow the incentives. Massive consolidation across the banking industry. PacWest gonna be a drop in the bucket compared to what comes next.
First, a hastened government led bank consolidation, then a public/private partnership with the remaining large banks to launch a surveilled and controlled digital currency network. We will be told it is more convenient. We will be told it is safer. We will be told it will prevent future bank runs. All of that is marketing bullshit. The goal is greater control of money. The ability to choose how we spend it and how we save it. If you control the money - you control the people that use it.
If you found this post helpful support my work with bitcoin.
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@ 57d1a264:69f1fee1
2025-06-08 05:57:12
There is a certain image that pops up whenever people think about crushing soda cans. It is the kind of scene you see in movies, where a brawny athlete flattens an empty can with a single squeeze, probably in front of a cheering crowd. The reality, however, is far less cinematic. Most of us barely manage a dent before abandoning the can, sending it tumbling toward the trash bin, often missing the target entirely and hoping no one noticed. It is hardly the stuff of legends, unless you consider fumbling for a runaway soda can an athletic event.
In the end, the Yeti Can Crusher is more than just a clever gadget. It is a reminder that even the simplest chores can be transformed into moments of enjoyment, especially when the right tool is involved. There is a certain thrill in turning a dull task into a satisfying ritual, and when you add a dash of style, suddenly recycling is not just good for the planet, it is actually a little bit fun. With the right crusher in your hand, you might just find yourself looking forward to the next empty can.
Curious to learn more? https://www.yeti.com/outdoor-living/20110010027.html
https://stacker.news/items/1000380
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@ 8d34bd24:414be32b
2025-06-08 03:42:59
Last post, I touched on the subject of what do you say to those going through trials and tribulations, but as I read Job, it seemed like there was more to say on the subject of how Christians are to respond to those who are suffering. The original passage of inspiration was this.
Don’t Be A Miserable Comforter
Then Job answered,
“I have heard many such things;\ Sorry comforters are you all.\ Is there no limit to windy words?\ Or what plagues you that you answer?\ I too could speak like you,\ If I were in your place.\ I could compose words against you\ And shake my head at you.\ I could strengthen you with my mouth,\ And the solace of my lips could lessen your pain. (Job 16:1-5)
Job was suffering. His friends came with the intention of comforting Job. Job vented his frustrations and problems understanding God’s justice. His friends tried to correct Job’s honest questions. These corrections escalated to the point of accusing Job of heinous sins and saying that everything that had happened to Job was his fault.
Job rightly said, “If I were in your place, I could compose words against you, and shake my head at you.” Sometimes we have to show mercy while a person is working through their feelings and confusion. Although some hardships are the consequences or punishment for sins, many (probably most) are not. We, as Christians, are promised trials. We should not be surprised when we go through trials.
Job also compares two ways of responding to a fellow believer going through trials. He says, “I could strengthen you with my mouth, and the solace of my lips could lessen your pain.” We can use our words to encourage and strengthen those who are suffering.
He also accuses his visitors of “Sorry comforters are you all. Is there no limit to windy words?” This reminds me of a traditional saying, “If you can’t say anything nice, don’t say anything at all.” Some of us want to fix everything. Sometimes we need to just listen. We don’t have to speak an answer for everything. In these uncomfortable situations, it is easy to start with a brief, Biblical answer, but then to start filling the silence with our own words to fill the silence. This can harm of everyone.
Job’s friends initial comments were not bad and were mostly true, but the more they talked, the more they went off track and the more harm they did. We want to lessen their pain, not be sorry comforters.
Of course this doesn’t mean that we can’t share God’s word. It doesn’t mean we can’t acknowledge obvious sins that are known by all parties. It does mean that all words should be an encouragement to lead them into closer fellowship with God.
Job again comments about his friends.
Even now, behold, my witness is in heaven,\ **And my advocate is on high.\ My friends are my scoffers;\ My eye weeps to God.\ O that a man might plead with God\ As a man with his neighbor!\ For when a few years are past,\ I shall go the way of no return. (Job 16:19-22) {emphasis mine}
Job, being a godly man, puts his trust in God. Notice the pattern: God, friends, God.
And my advocate is on high.\ My friends are my scoffers;\ My eye weeps to God.
Despite the scoffing and harm done by his friends, he keeps his eye on God as his advocate and the one he turns to in sorrow. In the case of Job, he is able to lean on God despite the harm done by his friends. Those will lesser faith might have been pushed away from God by his friends words.
Love One Another
In the New Testament, we are told:
“A new commandment I give to you, that you love one another, even as I have loved you, that you also love one another. By this all men will know that you are My disciples, if you have love for one another.” (John 13:34-35)
Our every word and action should be loving. That doesn’t mean ignoring sin, but it does mean every word and action should be used to draw a person into closer relationship with their God and Savior. In the case of a person who is sinning, Jesus set a perfect example.
The scribes and the Pharisees brought a woman caught in adultery, and having set her in the center of the court, they*said to Him, “Teacher, this woman has been caught in adultery, in the very act. Now in the Law Moses commanded us to stone such women; what then do You say?” They were saying this, testing Him, so that they might have grounds for accusing Him. But Jesus stooped down and with His finger wrote on the ground. But when they persisted in asking Him, He straightened up, and said to them, “He who is without sin among you, let him be the first to throw a stone at her.” Again He stooped down and wrote on the ground. When they heard it, they began to go out one by one, beginning with the older ones, and He was left alone, and the woman, where she was, in the center of the court. Straightening up, Jesus said to her, “Woman, where are they? Did no one condemn you?” She said, “No one, Lord.” And Jesus said, “I do not condemn you, either. Go. From now on sin no more.” (John 8:3-11)
What did Jesus do:
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He protected the accused from those trying to use, abuse, and torment her.
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He did not deny her sin, but encouraged her accusers to acknowledge their own sins.
-
He encouraged her to “sin no more.”
This woman knew she had sinned. She did not need to be reminded of it. She didn’t deny it; she knew. Because she and everyone else knew her sin, there was no need to bring it up again. Jesus used this situation to help her accusers understand their own sin and to lead her into repentance and salvation. The gentle correction was used to lead her to a better way.
When we speak to someone in trials, whether self-inflicted, externally caused, or a standard trial common to all men, our goal should be to uplift and draw to Jesus. We should have mercy on the suffering and not add to their suffering.
No matter the case, we need to carefully use our words for love and mercy.
Beloved, let us love one another, for love is from God; and everyone who loves is born of God and knows God. The one who does not love does not know God, for God is love. By this the love of God was manifested in us, that God has sent His only begotten Son into the world so that we might live through Him. In this is love, not that we loved God, but that He loved us and sent His Son to be the propitiation for our sins. Beloved, if God so loved us, we also ought to love one another. (1 John 4:7-11)
Dealing With Sin & Repentance
In 1 & 2 Corinthians, Paul deals with a situation of extreme sin. In 1 Corinthians he rebukes the church for allowing this heinous sin within their church body.
It is actually reported that there is immorality among you, and immorality of such a kind as does not exist even among the Gentiles, that someone has his father’s wife. You have become arrogant and have not mourned instead, so that the one who had done this deed would be removed from your midst.
For I, on my part, though absent in body but present in spirit, have already judged him who has so committed this, as though I were present. In the name of our Lord Jesus, when you are assembled, and I with you in spirit, with the power of our Lord Jesus, I have decided to deliver such a one to Satan for the destruction of his flesh, so that his spirit may be saved in the day of the Lord Jesus. (1 Corinthians 5:1-5) {emphasis mine}
This unrepentant sin could not be allowed to remain in the body because it could spread among God’s people and because it harmed God’s glory. At the same time, the motivation for removing him from the body was not to remove him from a relationship with God. It was to cause consequences in the hopes that the man would return to Jesus.
In 2 Corinthians, we find that he does repent of his son and seek to come back into the fellowship of believers.
For out of much affliction and anguish of heart I wrote to you with many tears; not so that you would be made sorrowful, but that you might know the love which I have especially for you.
But if any has caused sorrow, he has caused sorrow not to me, but in some degree—in order not to say too much—to all of you. Sufficient for such a one is this punishment which was inflicted by the majority, so that on the contrary you should rather forgive and comfort him, otherwise such a one might be overwhelmed by excessive sorrow. Wherefore I urge you to reaffirm your love for him. For to this end also I wrote, so that I might put you to the test, whether you are obedient in all things. But one whom you forgive anything, I forgive also; for indeed what I have forgiven, if I have forgiven anything, I did it for your sakes in the presence of Christ, so that no advantage would be taken of us by Satan, for we are not ignorant of his schemes. (2 Corinthians 2:4-11) {emphasis mine}
Once a sinner repents, we are to immediately forgive and comfort them and welcome them back into the fellowship of believers. We are not to remind them of their previous sins and overwhelm them with excessive sorrow, but are to reaffirm our love for them. Any punishment was for correction, not to harm or cause them pain. We should seek the good of those who sinned. We should welcome them back with open arms. We should forgive as we were forgiven by God.
All of our words and actions toward others, whether the most godly saint or the most reprehensible sinner, should be to the goal of drawing them closer to the Savior and helping them to trust in God’s goodness, wisdom, and strength.
May the God of Heaven carry your burdens and help you to help carry the burdens of those around you. May Our Savior help us to be a godly encouragement to the suffering who draws them into closer fellowship with the Savior. May the Holy Spirt give us discernment in how to best encourage the suffering and to help them rest in Jesus.
Trust Jesus
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@ 2b998b04:86727e47
2025-06-08 03:37:24
This is my first test -- I'm writing a blog post (using primal long form post) on nostr once and using github actions to fetch and store article as a static page on github pages to be used in a website (blog.stantonweb.com) and potentially other places.
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@ 81022b27:2b8d0644
2025-06-08 04:22:00
Here’s the thing: authenticity gives off a vibration: There is so little of it anywhere that we crave it. That’s why an orange guy beats someone who doesn’t mean what they say. Because they don’t really believe a guy in a dress is a woman because that’s what they say they are
People feel vibes and hearing someone lie to their face is offensive. They will follow the guy that at least believes what he is
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@ 8bad92c3:ca714aa5
2025-06-07 11:01:44
Key Takeaways
Michael Goldstein, aka Bitstein, presents a sweeping philosophical and economic case for going “all in” on Bitcoin, arguing that unlike fiat, which distorts capital formation and fuels short-term thinking, Bitcoin fosters low time preference, meaningful saving, and long-term societal flourishing. At the heart of his thesis is “hodling for good”—a triple-layered idea encompassing permanence, purpose, and the pursuit of higher values like truth, beauty, and legacy. Drawing on thinkers like Aristotle, Hoppe, and Josef Pieper, Goldstein redefines leisure as contemplation, a vital practice in aligning capital with one’s deepest ideals. He urges Bitcoiners to think beyond mere wealth accumulation and consider how their sats can fund enduring institutions, art, and architecture that reflect a moral vision of the future.
Best Quotes
“Let BlackRock buy the houses, and you keep the sats.”
“We're not hodling just for the sake of hodling. There is a purpose to it.”
“Fiat money shortens your time horizon… you can never rest.”
“Savings precedes capital accumulation. You can’t build unless you’ve saved.”
“You're increasing the marginal value of everyone else’s Bitcoin.”
“True leisure is contemplation—the pursuit of the highest good.”
“What is Bitcoin for if not to make the conditions for magnificent acts of creation possible?”
“Bitcoin itself will last forever. Your stack might not. What will outlast your coins?”
“Only a whale can be magnificent.”
“The market will sell you all the crack you want. It’s up to you to demand beauty.”
Conclusion
This episode is a call to reimagine Bitcoin as more than a financial revolution—it’s a blueprint for civilizational renewal. Michael Goldstein reframes hodling as an act of moral stewardship, urging Bitcoiners to lower their time preference, build lasting institutions, and pursue truth, beauty, and legacy—not to escape the world, but to rebuild it on sound foundations.
Timestamps
00:00 - Intro
00:50 - Michael’s BBB presentation Hodl for Good
07:27 - Austrian principles on capital
15:40 - Fiat distorts the economic process
23:34 - Bitkey
24:29 - Hodl for Good triple entendre
29:52 - Bitcoin benefits everyone
39:05 - Unchained
40:14 - Leisure theory of value
52:15 - Heightening life
1:15:48 - Breaking from the chase makes room for magnificence
1:32:32 - Nakamoto Institute’s missionTranscript
(00:00) Fiat money is by its nature a disturbance. If money is being continually produced, especially at an uncertain rate, these uh policies are really just redistribution of wealth. Most are looking for number to go up post hyper bitcoinization. The rate of growth of bitcoin would be more reflective of the growth of the economy as a whole.
(00:23) Ultimately, capital requires knowledge because it requires knowing there is something that you can add to the structures of production to lengthen it in some way that will take time but allow you to have more in the future than you would today. Let Black Rockck buy the houses and you keep the sats, not the other way around.
(00:41) You wait until later for Larry Frink to try to sell you a [Music] mansion. And we're live just like that. Just like that. 3:30 on a Friday, Memorial Day weekend. It's a good good good way to end the week and start the holiday weekend. Yes, sir. Yes, sir. Thank you for having me here. Thank you for coming. I wore this hat specifically because I think it's I think it's very apppropo uh to the conversation we're going to have which is I hope an extension of the presentation you gave at Bitblock Boom Huddle for good. You were working on
(01:24) that for many weeks leading up to uh the conference and explaining how you were structuring it. I think it's a very important topic to discuss now as the Bitcoin price is hitting new all-time highs and people are trying to understand what am I doing with Bitcoin? Like you have you have the different sort of factions within Bitcoin.
(01:47) Uh get on a Bitcoin standard, get on zero, spend as much Bitcoin as possible. You have the sailors of the world are saying buy Bitcoin, never sell, die with your Bitcoin. And I think you do a really good job in that presentation. And I just think your understanding overall of Bitcoin is incredible to put everything into context. It's not either or.
(02:07) It really depends on what you want to accomplish. Yeah, it's definitely there there is no actual one-sizefits-all um for I mean nearly anything in this world. So um yeah, I mean first of all I mean there was it was the first conference talk I had given in maybe five years. I think the one prior to that uh was um bit block boom 2019 which was my meme talk which uh has uh become infamous and notorious.
(02:43) So uh there was also a lot of like high expectations uh you know rockstar dev uh has has treated that you know uh that that talk with a lot of reference. a lot of people have enjoyed it and he was expecting this one to be, you know, the greatest one ever, which is a little bit of a little bit of a uh a burden to live up to those kinds of standards.
(03:08) Um, but you know, because I don't give a lot of talks. Um, you know, I I I like to uh try to bring ideas that might even be ideas that are common. So, something like hodling, we all talk about it constantly. uh but try to bring it from a little bit of a different angle and try to give um a little bit of uh new light to it.
(03:31) I alsove I've I've always enjoyed kind of coming at things from a third angle. Um whenever there's, you know, there's there's all these little debates that we have in in Bitcoin and sometimes it's nice to try to uh step out of it and look at it a little more uh kind of objectively and find ways of understanding it that incorporate the truths of of all of them.
(03:58) uh you know cuz I think we should always be kind of as much as possible after ultimate truth. Um so with this one um yeah I was kind of finding that that sort of golden mean. So uh um yeah and I actually I think about that a lot is uh you know Aristotle has his his concept of the golden mean. So it's like any any virtue is sort of between two vices um because you can you can always you can always take something too far.
(04:27) So you're you're always trying to find that right balance. Um so someone who is uh courageous you know uh one of the vices uh on one side is being basically reckless. I I can't remember what word he would use. Uh but effectively being reckless and just wanting to put yourself in danger for no other reason than just you know the thrill of it.
(04:50) Um and then on the other side you would just have cowardice which is like you're unwilling to put yourself um at any risk at any time. Um, and courage is right there in the middle where it's understanding when is the right time uh to put your put yourself, you know, in in the face of danger um and take it on. And so um in some sense this this was kind of me uh in in some ways like I'm obviously a partisan of hodling.
(05:20) Um, I've for, you know, a long time now talked about the, um, why huddling is good, why people do it, why we should expect it. Um, but still trying to find that that sort of golden mean of like yes, huddle, but also what are we hodling for? And it's not we're we're not hodddling just merely for the sake of hodddling.
(05:45) There there is a a purpose to it. And we should think about that. And that would also help us think more about um what are the benefits of of spending, when should we spend, why should we spend, what should we spend on um to actually give light to that sort of side of the debate. Um so that was that was what I was kind of trying to trying to get into.
(06:09) Um, as well as also just uh at the same time despite all the talk of hodling, there's always this perennial uh there's always this perennial dislike of hodlers because we're treated as uh as if um we're just free riding the network or we're just greedy or you know any of these things. And I wanted to show how uh huddling does serve a real economic purpose.
(06:36) Um, and it does benefit the individual, but it also does uh it it has actual real social um benefits as well beyond merely the individual. Um, so I wanted to give that sort of defense of hodling as well to look at it from um a a broader position than just merely I'm trying to get rich. Um uh because even the person who uh that is all they want to do um just like you know your your pure number grow up go up moonboy even that behavior has positive ramifications on on the economy.
(07:14) And while we might look at them and have uh judgments about their particular choices for them as an individual, we shouldn't discount that uh their actions are having positive positive effects for the rest of the economy. Yeah. So, let's dive into that just not even in the context of Bitcoin because I think you did a great job of this in the presentation.
(07:36) just you've done a good job of this consistently throughout the years that I've known you. Just from like a first principles Austrian economics perspective, what is the idea around capital accumulation, low time preference and deployment of that capital like what what like getting getting into like the nitty-gritty and then applying it to Bitcoin? Yeah, it's it's a big question and um in many ways I mean I I even I barely scratched the surface.
(08:05) uh I I can't claim to have read uh all the volumes of Bombber works, you know, capital and interest and and stuff like that. Um but I think there's some some sort of basic concepts that we can look at that we can uh draw a lot out. Um the first uh I guess let's write that. So repeat so like capital time preference. Yeah. Well, I guess getting more broad like why sav -
@ dfa02707:41ca50e3
2025-06-08 05:01:50
News
- Bitcoin mining centralization in 2025. According to a blog post by b10c, Bitcoin mining was at its most decentralized in May 2017, with another favorable period from 2019 to 2022. However, starting in 2023, mining has become increasingly centralized, particularly due to the influence of large pools like Foundry and the use of proxy pooling by entities such as AntPool.
Source: b10c's blog.
- OpenSats announces the eleventh wave of Nostr grants. The five projects in this wave are the mobile live-streaming app Swae, the Nostr-over-ham-radio project HAMSTR, Vertex—a Web-of-Trust (WOT) service for Nostr developers, Nostr Double Ratchet for end-to-end encrypted messaging, and the Nostr Game Engine for building games and applications integrated with the Nostr ecosystem.
- New Spiral grantee: l0rinc. In February 2024, l0rinc transitioned to full-time work on Bitcoin Core. His efforts focus on performance benchmarking and optimizations, enhancing code quality, conducting code reviews, reducing block download times, optimizing memory usage, and refactoring code.
- Project Eleven offers 1 BTC to break Bitcoin's cryptography with a quantum computer. The quantum computing research organization has introduced the Q-Day Prize, a global challenge that offers 1 BTC to the first team capable of breaking an elliptic curve cryptographic (ECC) key using Shor’s algorithm on a quantum computer. The prize will be awarded to the first team to successfully accomplish this breakthrough by April 5, 2026.
- Unchained has launched the Bitcoin Legacy Project. The initiative seeks to advance the Bitcoin ecosystem through a bitcoin-native donor-advised fund platform (DAF), investments in community hubs, support for education and open-source development, and a commitment to long-term sustainability with transparent annual reporting.
- In its first year, the program will provide support to Bitcoin hubs in Nashville, Austin, and Denver.
- Support also includes $50,000 to the Bitcoin Policy Institute, a $150,000 commitment at the University of Austin, and up to $250,000 in research grants through the Bitcoin Scholars program.
"Unchained will match grants 1:1 made to partner organizations who support Bitcoin Core development when made through the Unchained-powered bitcoin DAF, up to 1 BTC," was stated in a blog post.
- Block launched open-source tools for Bitcoin treasury management. These include a dashboard for managing corporate bitcoin holdings and provides a real-time BTC-to-USD price quote API, released as part of the Block Open Source initiative. The company’s own instance of the bitcoin holdings dashboard is available here.
Source: block.xyz
- Bull Bitcoin expands to Mexico, enabling anyone in the country to receive pesos from anywhere in the world straight from a Bitcoin wallet. Additionally, users can now buy Bitcoin with a Mexican bank account.
"Bull Bitcoin strongly believes in Bitcoin’s economic potential in Mexico, not only for international remittances and tourism, but also for Mexican individuals and companies to reclaim their financial sovereignty and protect their wealth from inflation and the fragility of traditional financial markets," said Francis Pouliot, Founder and CEO of Bull Bitcoin.
- Corporate bitcoin holdings hit a record high in Q1 2025. According to Bitwise, public companies' adoption of Bitcoin has hit an all-time high. In Q1 2025, these firms collectively hold over 688,000 BTC, marking a 16.11% increase from the previous quarter. This amount represents 3.28% of Bitcoin's fixed 21 million supply.
Source: Bitwise.
- The Bitcoin Bond Company for institutions has launched with the aim of acquiring $1 trillion in Bitcoin over 21 years. It utilizes secure, transparent, and compliant bond-like products backed by Bitcoin.
- The U.S. Senate confirmed Paul Atkins as Chair of the Securities and Exchange Commission (SEC). At his confirmation hearing, Atkins emphasized the need for a clear framework for digital assets. He aims to collaborate with the CFTC and Congress to address jurisdiction and rulemaking gaps, aligning with the Trump administration's goal to position the U.S. as a leader in Bitcoin and blockchain finance.
- Ethereum developer Virgil Griffith has been released from custody. Griffith, whose sentence was reduced to 56 months, is now seeking a pardon. He was initially sentenced to 63 months for allegedly violating international sanctions laws by providing technical advice on using cryptocurrencies and blockchain technology to evade sanctions during a presentation titled 'Blockchains for Peace' in North Korea.
- No-KYC exchange eXch to close down under money laundering scrutiny. The privacy-focused cryptocurrency trading platform said it will cease operations on May 1. This decision follows allegations that the platform was used by North Korea's Lazarus Group for money laundering. eXch revealed it is the subject of an active "transatlantic operation" aimed at shutting down the platform and prosecuting its team for "money laundering and terrorism."
- Blockstream combats ESP32 FUD concerning Jade signers. The company stated that after reviewing the vulnerability disclosed in early March, Jade was found to be secure. Espressif Systems, the designer of the ESP32, has since clarified that the "undocumented commands" do not constitute a "backdoor."
- Bank of America is lobbying for regulations that favor banks over tech firms in stablecoin issuance. The bank's CEO Brian Moynihan is working with groups such as the American Bankers Association to advance the issuance of a fully reserved, 1:1 backed "Bank of America coin." If successful, this could limit stablecoin efforts by non-banks like Tether, Circle, and others, reports The Block.
- Tether to back OCEAN Pool with its hashrate. "As a company committed to financial freedom and open access, we see supporting decentralization in Bitcoin mining as essential to the network’s long-term integrity," said Tether CEO Paolo Ardoino.
- Bitdeer to expand its self-mining operations to navigate tariffs. The Singapore-based mining company is advancing plans to produce machines in the U.S. while reducing its mining hardware sales. This response is in light of increasing uncertainties related to U.S. trade policy, as reported by Bloomberg.
- Tether acquires $32M in Bitdeer shares. The firm has boosted its investment in Bitdeer during a wider market sell-off, with purchases in early to mid-April amounting to about $32 million, regulatory filings reveal.
- US Bitcoin miner manufacturer Auradine has raised $153 million in a Series C funding round as it expands into AI infrastructure. The round was led by StepStone Group and included participation from Maverick Silicon, Premji Invest, Samsung Catalyst Fund, Qualcomm Ventures, Mayfield, MARA Holdings, GSBackers, and other existing investors. The firm raised to over $300 million since its inception in 2022.
- Voltage has partnered with BitGo to [enable](https://www.voltage.cloud/blog/bitgo-and-voltage-team-up-to-deliver-instant-bitcoin-and-stabl
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@ b1ddb4d7:471244e7
2025-06-07 13:01:01
“Not your keys, not your coins” isn’t a slogan—it’s a survival mantra in the age of digital sovereignty.
The seismic collapses of Mt. Gox (2014) and FTX (2022) weren’t anomalies; they were wake-up calls. When $8.7 billion in customer funds vanished with FTX, it exposed the fatal flaw of third-party custody: your bitcoin is only as secure as your custodian’s weakest link.
Yet today, As of early 2025, analysts estimate that between 2.3 million and 3.7 million Bitcoins are permanently lost, representing approximately 11–18% of bitcoin’s fixed maximum supply of 21 million coins, with some reports suggesting losses as high as 4 million BTC. This paradox reveals a critical truth: self-custody isn’t just preferable—it’s essential—but it must be done right.
The Custody Spectrum
Custodial Wallets (The Illusion of Control)
- Rehypothecation Risk: Most platforms lend your bitcoin for yield generation. When Celsius collapsed, users discovered their “held” bitcoin was loaned out in risky strategies.
- Account Freezes: Regulatory actions can lock withdrawals overnight. In 2023, Binance suspended dollar withdrawals for U.S. users citing “partner bank issues,” trapping funds for weeks.
- Data Vulnerability: KYC requirements create honeypots for hackers. The 2024 Ledger breach exposed 270,000 users’ personal data despite hardware security.
True Self-Custody
Self-custody means exclusively controlling your private keys—the cryptographic strings that prove bitcoin ownership. Unlike banks or exchanges, self-custody eliminates:- Counterparty risk (no FTX-style implosions)
- Censorship (no blocked transactions)
- Inflationary theft (no fractional reserve lending)
Conquering the Three Great Fears of Self-Custody
Fear 1: “I’ll Lose Everything If I Make a Mistake”
Reality: Human error is manageable with robust systems:
- Test Transactions: Always send a micro-amount (0.00001 BTC) before large transfers. Verify receipt AND ability to send back.
- Multi-Backup Protocol: Store seed phrases on fireproof/waterproof steel plates (not paper!). Distribute copies geographically—one in a home safe, another with trusted family 100+ miles away.
- SLIP39 Sharding: Split your seed into fragments requiring 3-of-5 shards to reconstruct. No single point of failure.
Fear 2: “Hackers Will Steal My Keys”
Reality: Offline storage defeats remote attacks:
- Hardware Wallets: Devices like Bitkey or Ledger keep keys in “cold storage”—isolated from internet-connected devices. Transactions require physical confirmation.
- Multisig Vaults: Bitvault’s multi-sig system requires attackers compromise multiple locations/devices simultaneously. Even losing two keys won’t forfeit funds.
- Air-Gapped Verification: Use dedicated offline devices for wallet setup. Never type seeds on internet-connected machines.
Fear 3: “My Family Can’t Access It If I Die”
Reality: Inheritance is solvable:
- Dead Man Switches: Bitwarden’s emergency access allows trusted contacts to retrieve encrypted keys after a pre-set waiting period (e.g., 30 days).
- Inheritance Protocols: Bitkey’s inheritance solution shares decryption keys via designated beneficiaries’ emails. Requires multiple approvals to prevent abuse.
- Public Key Registries: Share wallet XPUBs (not private keys!) with heirs. They can monitor balances but not spend, ensuring transparency without risk.
The Freedom Dividend
- Censorship Resistance: Send $10M BTC to a Wikileaks wallet without Visa/Mastercard blocking it.
- Privacy Preservation: Avoid KYC surveillance—non-custodial wallets like Flash require zero ID verification.
- Protocol Access: Participate in bitcoin-native innovations (Lightning Network, DLCs) only possible with self-custodied keys.
- Black Swan Immunity: When Cyprus-style bank bailins happen, your bitcoin remains untouched in your vault.
The Sovereign’s Checklist
- Withdraw from Exchanges: Move all BTC > $1,000 to self-custody immediately.
- Buy Hardware Wallet: Purchase DIRECTLY from manufacturer (no Amazon!) to avoid supply-chain tampering.
- Generate Seed OFFLINE: Use air-gapped device, write phrase on steel—never digitally.
- Test Recovery: Delete wallet, restore from seed before funding.
- Implement Multisig: For > $75k, use Bitvault for 2-of-3 multi-sig setup.
- Create Inheritance Plan: Share XPUBs/SLIP39 shards with heirs + legal documents.
“Self-custody isn’t about avoiding risk—it’s about transferring risk from opaque institutions to transparent, controllable systems you design.”
The Inevitable Evolution: Custody Without Compromise
Emerging solutions are erasing old tradeoffs:
- MPC Wallets: Services like Xapo Bank shatter keys into encrypted fragments distributed globally. No single device holds full keys, defeating physical theft.
- Social Recovery: Ethically designed networks (e.g., Bitkey) let trusted contacts restore access without custodial control.
- Biometric Assurance: Fingerprint reset protocols prevent lockouts from physical injuries.
Lost keys = lost bitcoin. But consider the alternative: entrusting your life savings to entities with proven 8% annual failure rates among exchanges. Self-custody shifts responsibility from hoping institutions won’t fail to knowing your system can’t fail without your consent.
Take action today: Move one coin. Test one recovery. Share one xpub. The path to unchained wealth begins with a single satoshi under your control.
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@ 81022b27:2b8d0644
2025-06-08 04:19:30
D.D. Palmer was a magnetic healer, a visionary who tapped into the unseen forces of life. He founded chiropractic on the premise that the body’s innate intelligence governs health, and that misalignments—whether called subluxations, blockages, or interferences—disrupt this flow.
This is not a medical concept; it’s a metaphysical one, rooted in the belief that life transcends mere mechanics.
As a profession, we’ve been too concerned with what others think of us, particularly the medical community. In our desperation for acceptance, we’ve diluted our essence.
Some chiropractors advocate abandoning the term “subluxation” because it sounds archaic or unscientific. Personally, I don’t care for the word either—it often leaves my clients’ eyes glazed over. I prefer “blockages” or “interference” to convey the concept in a way that resonates.
But replacing these with medical jargon? That’s a betrayal of our roots.
What we cannot do is conform to a biomedical model that reduces the body to a machine. Chiropractic is not about treating symptoms or mimicking physical therapy. It’s about restoring the body’s connection to its innate wisdom, allowing healing to unfold naturally.
This is our strength, our uniqueness. To abandon it is to board the Titanic just before it sails—a sinking ship of soulless reductionism.
I believe chiropractic needs to embrace its metaphysical heritage boldly. We must stop apologizing for being different and instead educate the public on what we truly offer: a holistic approach that honors the body’s intelligence.
This means refining our language to be clear and relatable without sacrificing our principles. It means training chiropractors to communicate with confidence, not defensiveness. It means building a community that celebrates our philosophy rather than chasing validation from skeptics.
The future of chiropractic lies in authenticity. Let’s stop trying to fit into someone else’s paradigm. We are not medicine’s younger sibling; we are a distinct voice in healthcare. By standing firm in our metaphysical roots, we can inspire a world desperate for holistic solutions. The choice is ours: evolve as a vibrant, principled profession or sink under the weight of conformity. I choose evolution.
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@ dfa02707:41ca50e3
2025-06-07 13:01:47
Contribute to keep No Bullshit Bitcoin news going.
- RoboSats v0.7.7-alpha is now available!
NOTE: "This version of clients is not compatible with older versions of coordinators. Coordinators must upgrade first, make sure you don't upgrade your client while this is marked as pre-release."
- This version brings a new and improved coordinators view with reviews signed both by the robot and the coordinator, adds market price sources in coordinator profiles, shows a correct warning for canceling non-taken orders after a payment attempt, adds Uzbek sum currency, and includes package library updates for coordinators.
Source: RoboSats.
- siggy47 is writing daily RoboSats activity reviews on stacker.news. Check them out here.
- Stay up-to-date with RoboSats on Nostr.
What's new
- New coordinators view (see the picture above).
- Available coordinator reviews signed by both the robot and the coordinator.
- Coordinators now display market price sources in their profiles.
Source: RoboSats.
- Fix for wrong message on cancel button when taking an order. Users are now warned if they try to cancel a non taken order after a payment attempt.
- Uzbek sum currency now available.
- For coordinators: library updates.
- Add docker frontend (#1861).
- Add order review token (#1869).
- Add UZS migration (#1875).
- Fixed tests review (#1878).
- Nostr pubkey for Robot (#1887).
New contributors
Full Changelog: v0.7.6-alpha...v0.7.7-alpha
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@ b1ddb4d7:471244e7
2025-06-07 10:01:31
Hosted at the iconic Palace of Culture and Science—a prominent symbol of the communist era—the Bitcoin FilmFest offers a vibrant celebration of film through the lens of bitcoin. The venue itself provides a striking contrast to the festival’s focus, highlighting bitcoin’s core identity as a currency embodying independence from traditional financial and political systems.
𝐅𝐢𝐱𝐢𝐧𝐠 𝐭𝐡𝐞 𝐜𝐮𝐥𝐭𝐮𝐫𝐞 𝐰𝐢𝐭𝐡 𝐩𝐨𝐰𝐞𝐫𝐟𝐮𝐥 𝐦𝐮𝐬𝐢𝐜 𝐯𝐢𝐛𝐞𝐬.
Warsaw, Day Zero at #BFF25 (European Bitcoin Pizza Day) with @roger__9000, MadMunky and the @2140_wtf squad
pic.twitter.com/9ogVvWRReA— Bitcoin FilmFest
(@bitcoinfilmfest) May 28, 2025This venue represents an era when the state tightly controlled the economy and financial systems. The juxtaposition of this historical site with an event dedicated to bitcoin is striking and thought-provoking.
The event features a diverse array of activities, including engaging panel discussions, screenings of both feature-length and short films, workshops and lively parties. Each component designed to explore the multifaceted world of bitcoin and its implications for society, offering attendees a blend of entertainment and education.
The films showcase innovative narratives and insights into bitcoin’s landscape, while the panels facilitate thought-provoking discussions among industry experts and filmmakers.
Networking is a significant aspect of the festival, with an exceptionally open and friendly atmosphere that foster connections among participants. Participants from all over Europe gather to engage with like-minded individuals who share a passion for BTC and its implications for the future.
The open exchanges of ideas foster a sense of community, allowing attendees to forge new connections, collaborate on projects, and discuss the potential of blockchain technology implemented in bitcoin.
The organization of the festival is extraordinary, ensuring a smooth flow of information and an expertly structured schedule filled from morning until evening. Attendees appreciate the meticulous planning that allowed them to maximize their experience. Additionally, thoughtful touches such as gifts from sponsors and well-chosen locations for various events contribute to the overall positive atmosphere of the festival.
Overall, the Bitcoin FilmFest not only highlights the artistic expression surrounding bitcoin but also serves as a vital platform for dialogue—about financial freedom, the future of money, and individual sovereignty in a shifting world.
The event successfully bridges the gap between a historical symbol of control and a movement that celebrates freedom, innovation, and collaboration in the digital age, highlighting the importance of independence in financial systems while fostering a collaborative environment for innovation and growth.
Next year’s event is slated for June 5-7 2026. For further updates check: https://bitcoinfilmfest.com/
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@ b1ddb4d7:471244e7
2025-06-08 02:00:45
When Sergei talks about bitcoin, he doesn’t sound like someone chasing profits or followers. He sounds like someone about to build a monastery in the ruins.
While the mainstream world chases headlines and hype, Sergei shows up in local meetups from Sacramento to Cleveland, mentors curious minds, and shares what he knows is true – hoping that, with the right spark, someone will light their own way forward.
We interviewed Sergei to trace his steps: where he started, what keeps him going, and why teaching bitcoin is far more than explaining how to set up a node – it’s about reaching the right minds before the noise consumes them. So we began where most journeys start: at the beginning.
First Steps
- So, where did it all begin for you and what made you stay curious?
I first heard about bitcoin from a friend’s book recommendation, American Kingpin, the book about Silk Road (online drug marketplace). He is still not a true bitcoiner, although I helped him secure private keys with some bitcoin.
I was really busy at the time – focused on my school curriculum, running a 7-bedroom Airbnb, and working for a standardized test prep company. Bitcoin seemed too technical for me to explore, and the pace of my work left no time for it.
After graduating, while pursuing more training, I started playing around with stocks and maximizing my savings. Passive income seemed like the path to early retirement, as per the promise of the FIRE movement (Financial Independence, Retire Early). I mostly followed the mainstream news and my mentor’s advice – he liked preferred stocks at the time.
I had some Coinbase IOUs and remember sending bitcoin within the Coinbase ledger to a couple friends. I also recall the 2018 crash; I actually saw the legendary price spike live but couldn’t benefit because my funds were stuck amidst the frenzy. I withdrew from that investment completely for some time. Thankfully, my mentor advised to keep en eye on bitcoin.
Around late 2019, I started DCA-ing cautiously. Additionally, my friend and I were discussing famous billionaires, and how there was no curriculum for becoming a billionaire. So, I typed “billionaires” into my podcast app, and landed on We Study Billionaires podcast.
That’s where I kept hearing Preston Pysh mention bitcoin, before splitting into his own podcast series, Bitcoin Fundamentals. I didn’t understand most of the terminology of stocks, bonds, etc, yet I kept listening and trying to absorb it thru repetition. Today, I realize all that financial talk was mostly noise.
When people ask me for a technical explanation of fiat, I say: it’s all made up, just like the fiat price of bitcoin! Starting in 2020, during the so-called pandemic, I dove deeper. I religiously read Bitcoin Magazine, scrolled thru Bitcoin Twitter, and joined Simply Bitcoin Telegram group back when DarthCoin was an admin.
DarthCoin was my favorite bitcoiner – experienced, knowledgeable, and unapologetic. Watching him shift from rage to kindness, from passion to despair, gave me a glimpse at what a true educator’s journey would look like.
The struggle isn’t about adoption at scale anymore. It’s about reaching the few who are willing to study, take risks, and stay out of fiat traps. The vast majority won’t follow that example – not yet at least… if I start telling others the requirements for true freedom and prosperity, they would certainly say “Hell no!”
- At what point did you start teaching others, and why?
After college, I helped teach at a standardized test preparation company, and mentored some students one-on-one. I even tried working at a kindergarten briefly, but left quickly; Babysitting is not teaching.
What I discovered is that those who will succeed don’t really need my help – they would succeed with or without me, because they already have the inner drive.
Once you realize your people are perishing for lack of knowledge, the only rational thing to do is help raise their level of knowledge and understanding. That’s the Great Work.
I sometimes imagine myself as a political prisoner. If that were to happen, I’d probably start teaching fellow prisoners, doctors, janitors, even guards. In a way we already live in an open-air prison, So what else is there to do but teach, organize, and conspire to dismantle the Matrix?
Building on Bitcoin
- You hosted some in-person meetups in Sacramento. What did you learn from those?
My first presentation was on MultiSig storage with SeedSigner, and submarine swaps through Boltz.exchange.
I realized quickly that I had overestimated the group’s technical background. Even the meetup organizer, a financial advisor, asked, “How is anyone supposed to follow these steps?” I responded that reading was required… He decided that Unchained is an easier way.
At a crypto meetup, I gave a much simpler talk, outlining how bitcoin will save the world, based on a DarthCoin’s guide. Only one person stuck around to ask questions – a man who seemed a little out there, and did not really seem to get the message beyond the strength of cryptographic security of bitcoin.
Again, I overestimated the audience’s readiness. That forced me to rethink my strategy. People are extremely early and reluctant to study.
- Now in Ohio, you hold sessions via the Orange Pill App. What’s changed?
My new motto is: educate the educators. The corollary is: don’t orange-pill stupid normies (as DarthCoin puts it).
I’ve shifted to small, technical sessions in order to raise a few solid guardians of this esoteric knowledge who really get it and can carry it forward.
The youngest attendee at one of my sessions is a newborn baby – he mostly sleeps, but maybe he still absorbs some of the educational vibes.
- How do local groups like Sactown and Cleveland Bitcoiners influence your work?
Every meetup reflects its local culture. Sacramento and Bay Area Bitcoiners, for example, do camping trips – once we camped through a desert storm, shielding our burgers from sand while others went to shoot guns.
Cleveland Bitcoiners are different. They amass large gatherings. They recently threw a 100k party. They do a bit more community outreach. Some are curious about the esoteric topics such as jurisdiction, spirituality, and healthful living.
I have no permanent allegiance to any state, race, or group. I go where I can teach and learn. I anticipate that in my next phase, I’ll meet Bitcoiners so advanced that I’ll have to give up my fiat job and focus full-time on serious projects where real health and wealth are on the line.
Hopefully, I’ll be ready. I believe the universe always challenges you exactly to your limit – no less, no more.
- What do people struggle with the most when it comes to technical education?
The biggest struggle isn’t technical – it’s a lack of deep curiosity. People ask “how” and “what” – how do I set up a node, what should one do with the lightning channels? But very few ask “why?”
Why does on-chain bitcoin not contribute to the circular economy? Why is it essential to run Lightning? Why did humanity fall into mental enslavement in the first place?
I’d rather teach two-year-olds who constantly ask “why” than adults who ask how to flip a profit. What worries me most is that most two-year-olds will grow up asking state-funded AI bots for answers and live according to its recommendations.
- One Cleveland Bitcoiner shows up at gold bug meetups. How valuable is face-to-face education?
I don’t think the older generation is going to reverse the current human condition. Most of them have been under mind control for too long, and they just don’t have the attention span to study and change their ways.
They’re better off stacking gold and helping fund their grandkids’ education. If I were to focus on a demographic, I’d go for teenagers – high school age – because by college, the indoctrination is usually too strong, and they’re chasing fiat mastery.
As for the gold bug meetup? Perhaps one day I will show up with a ukulele to sing some bitcoin-themed songs. Seniors love such entertainment.
- How do you choose what to focus on in your sessions, especially for different types of learners?
I don’t come in with a rigid agenda. I’ve collected a massive library of resources over the years and never stopped reading. My browser tab and folder count are exploding.
At the meetup, people share questions or topics they’re curious about, then I take that home, do my homework, and bring back a session based on those themes. I give them the key takeaways, plus where to dive deeper.
Most people won’t – or can’t – study the way I do, and I expect attendees to put in the work. I suspect that it’s more important to reach those who want to learn but don’t know how, the so-called nescient (not knowing), rather than the ignorant.
There are way too many ignorant bitcoiners, so my mission is to find those who are curious what’s beyond the facade of fake reality and superficial promises.
That naturally means that fewer people show up, and that’s fine. I’m not here for the crowds; I’m here to educate the educators. One bitcoiner who came decided to branch off into self-custody sessions and that’s awesome. Personally, I’m much more focused on Lightning.
I want to see broader adoption of tools like auth, sign-message, NWC, and LSPs. Next month, I’m going deep into eCash solutions, because let’s face it – most newcomers won’t be able to afford their own UTXO or open a lightning channel; additionally, it has to be fun and easy for them to transact sats, otherwise they won’t do it. Additionally, they’ll need to rely on
-
@ 9ca447d2:fbf5a36d
2025-06-07 22:01:31
President Donald Trump’s media company, Trump Media & Technology Group (TMTG), is doubling down on its Bitcoin bet, partnering with Crypto.com and Yorkville America Digital to launch its own bitcoin exchange-traded fund (ETF), called the Truth Social Bitcoin ETF.
On June 3, a division of the New York Stock Exchange, NYSE Arca, filed a 19b-4 form with the Securities and Exchange Commission (SEC).
This is the final regulatory hurdle before an ETF can be launched. If approved, this new fund will allow everyday investors to buy shares tied to the price of bitcoin, without having to hold the asset themselves.
The Truth Social Bitcoin ETF will track the price of bitcoin and give investors a simple, regulated way to invest in the digital money.
It will be listed and traded on NYSE Arca, and Foris DAX Trust Company (the custodian for Crypto.com’s assets) has been named as the proposed custodian for this new fund.
According to the filings, the ETF is “designed to remove the obstacles represented by the complexities and operational burdens involved in a direct investment in bitcoin.”
This is part of a bigger plan by Trump Media to offer a full suite of digital-asset-based financial products.
The company has also applied to trademark six investment products and has plans for additional ETFs under its Truth.Fi fintech platform, which will focus on digital assets and energy sectors.
Trump Media also recently announced a $2.5 billion bitcoin treasury plan and raised $2.4 billion in stock and debt to support its bitcoin initiatives.
Related: Trump Media Will Raise $2.5 Billion to Build Bitcoin Treasury
Now that the 19b-4 has been filed, the SEC has 45 days to approve, reject or delay the application. This can be extended several times, but a final decision must be made by January 29, 2026.
In addition to the 19b-4, Yorkville America Digital must also file an S-1 registration statement. This will outline exactly how the ETF will work, what it offers to investors, how funds will be used, and the risks involved.
Since January 2024, bitcoin ETFs have been all the rage, with over $130 billion in assets. Big players like BlackRock’s iShares Bitcoin Trust (IBIT) and Fidelity’s FBTC dominate the space. BlackRock alone has $69 billion in assets through its bitcoin ETF.
Even though Trump’s ETF is entering a crowded field, its name will get attention. The Truth Social bitcoin ETF is expected to generate media buzz, political controversy and divided investor opinions, making it a cultural and financial statement.
Donald Trump is the majority owner of Trump Media, although his shares are in a trust controlled by his son, Donald Trump Jr. The ETF filing doesn’t mention Trump by name, but most people see it as a Trump product.
The President is getting more and more involved in the digital asset space. He has NFT collections, meme coins, a bitcoin mining company, a digital asset wallet, and now a potential bitcoin ETF.
But not everyone is happy. Some argue that a sitting president’s involvement in regulated financial products, especially one that could benefit from political influence, is unethical.
An SEC-approved digital asset product from Trump could blur the lines between politics, personal gain and digital assets.
Others, however, see this as a calculated move to boost Trump’s image and position him as a leader in the digital asset and tech space.
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@ 81022b27:2b8d0644
2025-06-08 04:13:43
Have you seen the show Poker Face on Peacock streaming? Natasha Lyonne plays a casino worker character who has the ability to tell if someone is telling the truth. If she hears a lie, she automatically says, “Bullshit!”
Her ability gets her in trouble with her boss, who is involved in organized crime, and now she is on the run and solving crimes until they find her again (usually at the end of an episode).
It’s like a rock-and-roll Quantum Leap. Anyway, Christi likes the show because there are crimes and clues, and you have to figure it out. I watch it because I can get into it while I’m messing with my phone or doing a little writing.
Well, I have that same ability to detect BS.
When I work on clients, I connect with their energy. I didn’t start out doing it on purpose; I would start working on a client and pick up whatever they were sick with, and then they would feel great, and I would be left struggling.
Some friends taught me how to protect myself, and it helped, but “my shield” prevented me from connecting with my clients like I used to.
Now I connect with the source of all power in the universe: God. (You can call it whatever you want: Source, Universal Intelligence, Prana, etc.)
I send up a little antenna, and I’m protected AND connected.
When I’m in this state and talking to a client, I can clearly tell when someone is not telling the truth because THE BODY DOES NOT LIE!
Sometimes the cause of a physical issue is an emotional issue. If you can connect to someone’s energy like this, you can find and help clear out whatever is the root cause.
I’ve been telling people this quote for as long as I’ve been practicing:
You can lie to your mom, to your friends, and even to yourself, but you can’t lie to your chiropractor!
A polygraph lie detector only measures four things: heart rate and blood pressure, respiration rate, skin conductivity, and movement.
There are now better lie detectors that use EEGs (brain wave measurements). AI finds that voice analysis is a great way to detect honesty.
What’s better than all of that combined?
You.
Your nervous system can detect much more than all these other methods combined. I will try to teach what I know so far if you’d like.
And don’t forget to watch that show! I recommend it.
live long and prosper 🖖🏼
-Dan
-
@ 1817b617:715fb372
2025-06-07 21:32:29
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-
@ b1ddb4d7:471244e7
2025-06-07 13:01:00
Hosted at the iconic Palace of Culture and Science—a prominent symbol of the communist era—the Bitcoin FilmFest offers a vibrant celebration of film through the lens of bitcoin. The venue itself provides a striking contrast to the festival’s focus, highlighting bitcoin’s core identity as a currency embodying independence from traditional financial and political systems.
𝐅𝐢𝐱𝐢𝐧𝐠 𝐭𝐡𝐞 𝐜𝐮𝐥𝐭𝐮𝐫𝐞 𝐰𝐢𝐭𝐡 𝐩𝐨𝐰𝐞𝐫𝐟𝐮𝐥 𝐦𝐮𝐬𝐢𝐜 𝐯𝐢𝐛𝐞𝐬.
Warsaw, Day Zero at #BFF25 (European Bitcoin Pizza Day) with @roger__9000, MadMunky and the @2140_wtf squad pic.twitter.com/9ogVvWRReA— Bitcoin FilmFest
(@bitcoinfilmfest) May 28, 2025This venue represents an era when the state tightly controlled the economy and financial systems. The juxtaposition of this historical site with an event dedicated to bitcoin is striking and thought-provoking.
The event features a diverse array of activities, including engaging panel discussions, screenings of both feature-length and short films, workshops and lively parties. Each component designed to explore the multifaceted world of bitcoin and its implications for society, offering attendees a blend of entertainment and education.
The films showcase innovative narratives and insights into bitcoin’s landscape, while the panels facilitate thought-provoking discussions among industry experts and filmmakers.
Networking is a significant aspect of the festival, with an exceptionally open and friendly atmosphere that foster connections among participants. Participants from all over Europe gather to engage with like-minded individuals who share a passion for BTC and its implications for the future.
The open exchanges of ideas foster a sense of community, allowing attendees to forge new connections, collaborate on projects, and discuss the potential of blockchain technology implemented in bitcoin.
The organization of the festival is extraordinary, ensuring a smooth flow of information and an expertly structured schedule filled from morning until evening. Attendees appreciate the meticulous planning that allowed them to maximize their experience. Additionally, thoughtful touches such as gifts from sponsors and well-chosen locations for various events contribute to the overall positive atmosphere of the festival.
Overall, the Bitcoin FilmFest not only highlights the artistic expression surrounding bitcoin but also serves as a vital platform for dialogue—about financial freedom, the future of money, and individual sovereignty in a shifting world.
The event successfully bridges the gap between a historical symbol of control and a movement that celebrates freedom, innovation, and collaboration in the digital age, highlighting the importance of independence in financial systems while fostering a collaborative environment for innovation and growth.
Next year’s event is slated for June 5-7 2026. For further updates check: https://bitcoinfilmfest.com/
-
@ b1ddb4d7:471244e7
2025-06-08 05:00:35
Square, the payments platform operated by Block (founded by Jack Dorsey), is reporting 9.7% bitcoin yield on its bitcoin holdings by running a Lightning Network node.
The announcement was made by Miles Suter, Bitcoin product lead at Block, during the Bitcoin 2025 conference in Las Vegas. Suter explained that Square is earning “real bitcoin from our holdings” by efficiently routing payments across the Lightning Network.
Square’s yield comes from its role as a Lightning service provider, a business it launched two years ago to boost liquidity and efficiency on the Lightning Network. According to Lightning Labs’ Ryan Gentry, Square’s 9% yield could translate to roughly $1 million in annual revenue.
The Lightning Network, a Bitcoin layer-2 protocol, has long been promoted as a solution to Bitcoin’s scalability and transaction speed issues. It enables micropayments and off-chain transactions, reducing congestion on the main blockchain. However, the network faces challenges, including the need for inbound liquidity—users must lock up BTC to receive BTC—potentially limiting participation by smaller nodes and raising concerns about decentralization.
Despite these hurdles, Square remains committed to advancing Bitcoin payments via Lightning. Suter revealed that 25% of Square’s outbound bitcoin transactions now use the Lightning Network. The company is actively testing Lightning-based payments at the Bitcoin 2025 event and plans to roll out the service to all eligible Square merchants by 2026.
Suter emphasized the transformative potential of Lightning:
“When you enable real payments by making them faster and more convenient, the network becomes stronger, smarter, and more beneficial. So if you’re questioning whether bitcoin is merely an asset, the response is no. It has already evolved into both an asset and a protocol, and now Block is spearheading the initiative to transform it into the world’s premier payment system.”
Square’s ongoing investment in Lightning signals its belief in Bitcoin’s future not just as a store of value, but as a global payments protocol.
-
@ 7f6db517:a4931eda
2025-06-07 14:01:23
Nostr is an open communication protocol that can be used to send messages across a distributed set of relays in a censorship resistant and robust way.
If you missed my nostr introduction post you can find it here. My nostr account can be found here.
We are nearly at the point that if something interesting is posted on a centralized social platform it will usually be posted by someone to nostr.
We are nearly at the point that if something interesting is posted exclusively to nostr it is cross posted by someone to various centralized social platforms.
We are nearly at the point that you can recommend a cross platform app that users can install and easily onboard without additional guides or resources.
As companies continue to build walls around their centralized platforms nostr posts will be the easiest to cross reference and verify - as companies continue to censor their users nostr is the best censorship resistant alternative - gradually then suddenly nostr will become the standard. 🫡
Current Nostr Stats
If you found this post helpful support my work with bitcoin.
-
@ b1ddb4d7:471244e7
2025-06-07 08:00:46
“Not your keys, not your coins” isn’t a slogan—it’s a survival mantra in the age of digital sovereignty.
The seismic collapses of Mt. Gox (2014) and FTX (2022) weren’t anomalies; they were wake-up calls. When $8.7 billion in customer funds vanished with FTX, it exposed the fatal flaw of third-party custody: your bitcoin is only as secure as your custodian’s weakest link.
Yet today, As of early 2025, analysts estimate that between 2.3 million and 3.7 million Bitcoins are permanently lost, representing approximately 11–18% of bitcoin’s fixed maximum supply of 21 million coins, with some reports suggesting losses as high as 4 million BTC. This paradox reveals a critical truth: self-custody isn’t just preferable—it’s essential—but it must be done right.
The Custody Spectrum
Custodial Wallets (The Illusion of Control)
- Rehypothecation Risk: Most platforms lend your bitcoin for yield generation. When Celsius collapsed, users discovered their “held” bitcoin was loaned out in risky strategies.
- Account Freezes: Regulatory actions can lock withdrawals overnight. In 2023, Binance suspended dollar withdrawals for U.S. users citing “partner bank issues,” trapping funds for weeks.
- Data Vulnerability: KYC requirements create honeypots for hackers. The 2024 Ledger breach exposed 270,000 users’ personal data despite hardware security.
True Self-Custody
Self-custody means exclusively controlling your private keys—the cryptographic strings that prove bitcoin ownership. Unlike banks or exchanges, self-custody eliminates:- Counterparty risk (no FTX-style implosions)
- Censorship (no blocked transactions)
- Inflationary theft (no fractional reserve lending)
Conquering the Three Great Fears of Self-Custody
Fear 1: “I’ll Lose Everything If I Make a Mistake”
Reality: Human error is manageable with robust systems:
- Test Transactions: Always send a micro-amount (0.00001 BTC) before large transfers. Verify receipt AND ability to send back.
- Multi-Backup Protocol: Store seed phrases on fireproof/waterproof steel plates (not paper!). Distribute copies geographically—one in a home safe, another with trusted family 100+ miles away.
- SLIP39 Sharding: Split your seed into fragments requiring 3-of-5 shards to reconstruct. No single point of failure.
Fear 2: “Hackers Will Steal My Keys”
Reality: Offline storage defeats remote attacks:
- Hardware Wallets: Devices like Bitkey or Ledger keep keys in “cold storage”—isolated from internet-connected devices. Transactions require physical confirmation.
- Multisig Vaults: Bitvault’s multi-sig system requires attackers compromise multiple locations/devices simultaneously. Even losing two keys won’t forfeit funds.
- Air-Gapped Verification: Use dedicated offline devices for wallet setup. Never type seeds on internet-connected machines.
Fear 3: “My Family Can’t Access It If I Die”
Reality: Inheritance is solvable:
- Dead Man Switches: Bitwarden’s emergency access allows trusted contacts to retrieve encrypted keys after a pre-set waiting period (e.g., 30 days).
- Inheritance Protocols: Bitkey’s inheritance solution shares decryption keys via designated beneficiaries’ emails. Requires multiple approvals to prevent abuse.
- Public Key Registries: Share wallet XPUBs (not private keys!) with heirs. They can monitor balances but not spend, ensuring transparency without risk.
The Freedom Dividend
- Censorship Resistance: Send $10M BTC to a Wikileaks wallet without Visa/Mastercard blocking it.
- Privacy Preservation: Avoid KYC surveillance—non-custodial wallets like Flash require zero ID verification.
- Protocol Access: Participate in bitcoin-native innovations (Lightning Network, DLCs) only possible with self-custodied keys.
- Black Swan Immunity: When Cyprus-style bank bailins happen, your bitcoin remains untouched in your vault.
The Sovereign’s Checklist
- Withdraw from Exchanges: Move all BTC > $1,000 to self-custody immediately.
- Buy Hardware Wallet: Purchase DIRECTLY from manufacturer (no Amazon!) to avoid supply-chain tampering.
- Generate Seed OFFLINE: Use air-gapped device, write phrase on steel—never digitally.
- Test Recovery: Delete wallet, restore from seed before funding.
- Implement Multisig: For > $75k, use Bitvault for 2-of-3 multi-sig setup.
- Create Inheritance Plan: Share XPUBs/SLIP39 shards with heirs + legal documents.
“Self-custody isn’t about avoiding risk—it’s about transferring risk from opaque institutions to transparent, controllable systems you design.”
The Inevitable Evolution: Custody Without Compromise
Emerging solutions are erasing old tradeoffs:
- MPC Wallets: Services like Xapo Bank shatter keys into encrypted fragments distributed globally. No single device holds full keys, defeating physical theft.
- Social Recovery: Ethically designed networks (e.g., Bitkey) let trusted contacts restore access without custodial control.
- Biometric Assurance: Fingerprint reset protocols prevent lockouts from physical injuries.
Lost keys = lost bitcoin. But consider the alternative: entrusting your life savings to entities with proven 8% annual failure rates among exchanges. Self-custody shifts responsibility from hoping institutions won’t fail to knowing your system can’t fail without your consent.
Take action today: Move one coin. Test one recovery. Share one xpub. The path to unchained wealth begins with a single satoshi under your control.
-
@ cae03c48:2a7d6671
2025-06-07 06:01:19
Bitcoin Magazine
Bitcoin Life Insurer, Meanwhile, Becomes First Company to Publish Audited Financials Denominated in BitcoinMeanwhile Insurance Bitcoin (Bermuda) Limited (“Meanwhile”) announced it has become the first company in the world to release externally audited financial statements denominated entirely in Bitcoin. According to the announcement, the company reported 220.4 BTC in assets and 25.29 BTC in net income for 2024, a 300% year over year increase.
Today marks a global first & historic event for us, along with the public release of our 2024 audited financial statements, covering our 1st year of sales.
As the 1st company in the world to have Bitcoin-denominated financial statements externally audited, we are excited to…
— meanwhile | Bitcoin Life Insurance (@meanwhilelife) June 5, 2025
“We’ve just made history as the first company in the world to have Bitcoin-denominated financial statements externally audited,” said Zac Townsend, CEO of Meanwhile. “This is an important, foundational step in reimagining the financial system based on a single, global, decentralized standard outside the control of any one government.”
The financial statements were audited by Harris & Trotter LLP and its digital asset division ht.digital. Meanwhile’s financials also comply with Bermuda’s Insurance Act 1978, noting that their BTC denominated financials were approved and comply with official guidelines. The firm, fully licensed by the Bermuda Monetary Authority (BMA), operates entirely in BTC and is prohibited from liquidating Bitcoin assets except through policyholder claims, positioning it as a long term holder.
“As the first regulated Bitcoin life insurance company, we view the BTC held by Meanwhile as inherently long-term in nature—primarily held to support the Company’s insurance liabilities over decades,” Townsend added. “This makes it significantly ‘stickier’ and resistant to market pressures compared to the BTC held by other companies as part of their treasury management strategies.”
Meanwhile’s 2024 financials also revealed 23.02 BTC in net premiums and 4.35 BTC in investment income, showing that its model not only preserves Bitcoin, but earns it. The company’s reserves (also held in BTC) were reviewed and approved by Willis Towers Watson (WTW).
Meanwhile also offers a Bitcoin Whole Life insurance product that allows policyholders to save, borrow, and build legacy wealth—entirely in BTC, and has plans to expand globally in 2025.
“We are incredibly proud of today’s news as it underscores how Meanwhile is at the forefront of the next phase of the convergence between Bitcoin and institutional financial markets,” said Tia Beckmann, CFO of Meanwhile. “Now having generated net income in BTC, we have demonstrated that we are earning it through a sustainable insurance business model designed for the long term.”
This post Bitcoin Life Insurer, Meanwhile, Becomes First Company to Publish Audited Financials Denominated in Bitcoin first appeared on Bitcoin Magazine and is written by Jenna Montgomery.
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@ 97c70a44:ad98e322
2025-06-06 20:48:06
Vibe coding is taking the nostr developer community by storm. While it's all very exciting and interesting, I think it's important to pump the brakes a little - not in order to stop the vehicle, but to try to keep us from flying off the road as we approach this curve.
In this note Pablo is subtweeting something I said to him recently (although I'm sure he's heard it from other quarters as well):
nostr:nevent1qvzqqqqqqypzp75cf0tahv5z7plpdeaws7ex52nmnwgtwfr2g3m37r844evqrr6jqy2hwumn8ghj7un9d3shjtnyv9kh2uewd9hj7qghwaehxw309aex2mrp0yh8qunfd4skctnwv46z7qg6waehxw309ac8junpd45kgtnxd9shg6npvchxxmmd9uqzq0z48d4ttzzkupswnkyt5a2xfkhxl3hyavnxjujwn5k2k529aearwtecp4
There is a naive, curmudgeonly case for simply "not doing AI". I think the intuition is a good one, but the subject is obviously more complicated - not doing it, either on an individual or a collective level, is just not an option. I recently read Tools for Conviviality by Ivan Illich, which I think can help us here. For Illich, the best kind of tool is one which serves "politically interrelated individuals rather than managers".
This is obviously a core value for bitcoiners. And I think the talks given at the Oslo Freedom Forum this year present a compelling case for adoption of LLMs for the purposes of 1. using them for good, and 2. developing them further so that they don't get captured by corporations and governments. Illich calls both the telephone and print "almost ideally convivial". I would add the internet, cryptography, and LLMs to this list, because each one allows individuals to work cooperatively within communities to embody their values in their work.
But this is only half the story. Illich also points out how "the manipulative nature of institutions... have put these ideally convivial tools at the service of more [managerial dominance]."
Preventing the subversion and capture of our tools is not just a matter of who uses what, and for which ends. It also requires an awareness of the environment that the use of the tool (whether for virtuous or vicious ends) creates, which in turn forms the abilities, values, and desires of those who inhabit the environment.
The natural tendency of LLMs is to foster ignorance, dependence, and detachment from reality. This is not the fault of the tool itself, but that of humans' tendency to trade liberty for convenience. Nevertheless, the inherent values of a given tool naturally gives rise to an environment through use: the tool changes the world that the tool user lives in. This in turn indoctrinates the user into the internal logic of the tool, shaping their thinking, blinding them to the tool's influence, and neutering their ability to work in ways not endorsed by the structure of the tool-defined environment.
The result of this is that people are formed by their tools, becoming their slaves. We often talk about LLM misalignment, but the same is true of humans. Unreflective use of a tool creates people who are misaligned with their own interests. This is what I mean when I say that AI use is anti-human. I mean it in the same way that all unreflective tool use is anti-human. See Wendell Berry for an evaluation of industrial agriculture along the same lines.
What I'm not claiming is that a minority of high agency individuals can't use the technology for virtuous ends. In fact, I think that is an essential part of the solution. Tool use can be good. But tools that bring their users into dependence on complex industry and catechize their users into a particular system should be approached with extra caution. The plow was a convivial tool, and so were early tractors. Self-driving John Deere monstrosities are a straightforward extension of the earlier form of the technology, but are self-evidently an instrument of debt slavery, chemical dependency, industrial centralization, and degradation of the land. This over-extension of a given tool can occur regardless of the intentions of the user. As Illich says:
There is a form of malfunction in which growth does not yet tend toward the destruction of life, yet renders a tool antagonistic to its specific aims. Tools, in other words, have an optimal, a tolerable, and a negative range.
The initial form of a tool is almost always beneficial, because tools are made by humans for human ends. But as the scale of the tool grows, its logic gets more widely and forcibly applied. The solution to the anti-human tendencies of any technology is an understanding of scale. To prevent the overrun of the internal logic of a given tool and its creation of an environment hostile to human flourishing, we need to impose limits on scale.
Tools that require time periods or spaces or energies much beyond the order of corresponding natural scales are dysfunctional.
My problem with LLMs is:
- Not their imitation of human idioms, but their subversion of them and the resulting adoption of robotic idioms by humans
- Not the access they grant to information, but their ability to obscure accurate or relevant information
- Not their elimination of menial work, but its increase (Bullshit Jobs)
- Not their ability to take away jobs, but their ability to take away the meaning found in good work
- Not their ability to confer power to the user, but their ability to confer power to their owner which can be used to exploit the user
- Not their ability to solve problems mechanistically, but the extension of their mechanistic value system to human life
- Not their explicit promise of productivity, but the environment they implicitly create in which productivity depends on their use
- Not the conversations they are able to participate in, but the relationships they displace
All of these dysfunctions come from the over-application of the technology in evaluating and executing the fundamentally human task of living. AI work is the same kind of thing as an AI girlfriend, because work is not only for the creation of value (although that's an essential part of it), but also for the exercise of human agency in the world. In other words, tools must be tools, not masters. This is a problem of scale - when tool use is extended beyond its appropriate domain, it becomes what Illich calls a "radical monopoly" (the domination of a single paradigm over all of human life).
So the important question when dealing with any emergent technology becomes: how can we set limits such that the use of the technology is naturally confined to its appropriate scale?
Here are some considerations:
- Teach people how to use the technology well (e.g. cite sources when doing research, use context files instead of fighting the prompt, know when to ask questions rather than generate code)
- Create and use open source and self-hosted models and tools (MCP, stacks, tenex). Refuse to pay for closed or third-party hosted models and tools.
- Recognize the dependencies of the tool itself, for example GPU availability, and diversify the industrial sources to reduce fragility and dependence.
- Create models with built-in limits. The big companies have attempted this (resulting in Japanese Vikings), but the best-case effect is a top-down imposition of corporate values onto individuals. But the idea isn't inherently bad - a coding model that refuses to generate code in response to vague prompts, or which asks clarifying questions is an example. Or a home assistant that recognized childrens' voices and refuses to interact.
- Divert the productivity gains to human enrichment. Without mundane work to do, novice lawyers, coders, and accountants don't have an opportunity to hone their skills. But their learning could be subsidized by the bots in order to bring them up to a level that continues to be useful.
- Don't become a slave to the bots. Know when not to use it. Talk to real people. Write real code, poetry, novels, scripts. Do your own research. Learn by experience. Make your own stuff. Take a break from reviewing code to write some. Be independent, impossible to control. Don't underestimate the value to your soul of good work.
- Resist both monopoly and "radical monopoly". Both naturally collapse over time, but by cultivating an appreciation of the goodness of hand-crafted goods, non-synthetic entertainment, embodied relationship, and a balance between mobility and place, we can relegate new, threatening technologies to their correct role in society.
I think in all of this is implicit the idea of technological determinism, that productivity is power, and if you don't adapt you die. I reject this as an artifact of darwinism and materialism. The world is far more complex and full of grace than we think.
The idea that productivity creates wealth is, as we all know, bunk. GDP continues to go up, but ungrounded metrics don't reflect anything about the reality of human flourishing. We have to return to a qualitative understanding of life as whole, and contextualize quantitative tools and metrics within that framework.
Finally, don't believe the hype. Even if AI delivers everything it promises, conservatism in changing our ways of life will decelerate the rate of change society is subjected to and allow time for reflection and proper use of the tool. Curmudgeons are as valuable as technologists. There will be no jobspocalypse if there is sufficient political will to value human good over mere productivity. It's ok to pump the breaks.
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@ cae03c48:2a7d6671
2025-06-07 13:00:42
Bitcoin Magazine
Mapping Bitcoin’s Bull Cycle PotentialBitcoin’s Market Value to Realized Value, or MVRV ratio, remains one of the most reliable on-chain indicators for identifying local and macro tops and bottoms across every BTC cycle. By isolating data across different investor cohorts and adapting historical benchmarks to modern market conditions, we can generate more accurate insights into where Bitcoin may be headed next.
The Bitcoin MVRV Ratio
The MVRV Ratio compares Bitcoin’s market price to its realized price, essentially the average cost basis for all coins in the network. As of writing, BTC trades around $105,000 while the realized price floats near $47,000, putting the raw MVRV at 2.26. The Z-Score version of MVRV standardizes this ratio based on historical volatility, enabling clearer comparisons across different market cycles.
Figure 1: Historically, the MVRV Ratio and the MVRV Z-Score have accurately identified cycle peaks and bottoms. View Live Chart
Short-Term Holders
Short-term holders, defined as those holding Bitcoin for 155 days or less, currently have a realized price near $97,000. This metric often acts as dynamic support in bull markets and resistance in bear markets. Notably, when the Short Term Holder MVRV hits 1.33, local tops have historically occurred, as seen several times in both the 2017 and 2021 cycles. So far in the current cycle, this threshold has already been touched four times, each followed by modest retracements.
Figure 2: Short Term Holder MVRV reaching 1.33 in more recent cycles has aligned with local tops. View Live Chart
Long-Term Holders
Long-term holders, who’ve held BTC for more than 155 days, currently have an average cost basis of just $33,500, putting their MVRV at 3.11. Historically, Long Term Holder MVRV values have reached as high as 12 during major peaks. That said, we’re observing a trend of diminishing multiples each cycle.
Figure 3: Achieving a Long Term Holder MVRV value of 8 could extrapolate to a BTC price in excess of $300,000. View Live Chart
A key resistance band now sits between 7.5 and 8.5, a zone that has defined bull tops and pre-bear retracements in every cycle since 2011. If the current growth of the realized price ($40/day) continues for another 140–150 days, matching previous cycle lengths, we could see it reach somewhere in the region of $40,000. A peak MVRV of 8 would imply a price near $320,000.
A Smarter Market Compass
Unlike static all-time metrics, the 2-Year Rolling MVRV Z-Score adapts to evolving market dynamics. By recalculating average extremes over a rolling window, it smooths out Bitcoin’s natural volatility decay as it matures. Historically, this version has signaled overbought conditions when reaching levels above 3, and prime accumulation zones when dipping below -1. Currently sitting under 1, this metric suggests that substantial upside remains.
Figure 4: The current 2-Year Rolling MVRV Z-Score suggests more positive price action ahead. View Live Chart
Timing & Targets
A view of the BTC Growth Since Cycle Lows chart illustrates that BTC is now approximately 925 days removed from its last major cycle low. Historical comparisons to previous bull markets suggest we may be around 140 to 150 days away from a potential top, with both the 2017 and 2021 peaks occurring around 1,060 to 1,070 days after their respective lows. While not deterministic, this alignment reinforces the broader picture of where we are in the cycle. If realized price trends and MVRV thresholds continue on current trajectories, late Q3 to early Q4 2025 may bring final euphoric moves.
Figure 5: Will the current cycle continue to exhibit growth patterns similar to those of the previous two cycles? View Live Chart
Conclusion
The MVRV ratio and its derivatives remain essential tools for analyzing Bitcoin market behavior, providing clear markers for both accumulation and distribution. Whether observing short-term holders hovering near local top thresholds, long-term holders nearing historically significant resistance zones, or adaptive metrics like the 2-Year Rolling MVRV Z-Score signaling plenty of runway left, these data points should be used in confluence.
No single metric should be relied upon to predict tops or bottoms in isolation, but taken together, they offer a powerful lens through which to interpret the macro trend. As the market matures and volatility declines, adaptive metrics will become even more crucial in staying ahead of the curve.
For more deep-dive research, technical indicators, real-time market alerts, and access to a growing community of analysts, visit BitcoinMagazinePro.com.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. Always do your own research before making any investment decisions.
This post Mapping Bitcoin’s Bull Cycle Potential first appeared on Bitcoin Magazine and is written by Matt Crosby.
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@ dfa02707:41ca50e3
2025-06-07 14:01:22
Good morning (good night?)! The No Bullshit Bitcoin news feed is now available on Moody's Dashboard! A huge shoutout to sir Clark Moody for integrating our feed.
Headlines
- Spiral welcomes Ben Carman. The developer will work on the LDK server and a new SDK designed to simplify the onboarding process for new self-custodial Bitcoin users.
- The Bitcoin Dev Kit Foundation announced new corporate members for 2025, including AnchorWatch, CleanSpark, and Proton Foundation. The annual dues from these corporate members fund the small team of open-source developers responsible for maintaining the core BDK libraries and related free and open-source software (FOSS) projects.
- Strategy increases Bitcoin holdings to 538,200 BTC. In the latest purchase, the company has spent more than $555M to buy 6,556 coins through proceeds of two at-the-market stock offering programs.
- Spar supermarket experiments with Bitcoin payments in Zug, Switzerland. The store has introduced a new payment method powered by the Lightning Network. The implementation was facilitated by DFX Swiss, a service that supports seamless conversions between bitcoin and legacy currencies.
- The Bank for International Settlements (BIS) wants to contain 'crypto' risks. A report titled "Cryptocurrencies and Decentralised Finance: Functions and Financial Stability Implications" calls for expanding research into "how new forms of central bank money, capital controls, and taxation policies can counter the risks of widespread crypto adoption while still fostering technological innovation."
- "Global Implications of Scam Centres, Underground Banking, and Illicit Online Marketplaces in Southeast Asia." According to the United Nations Office on Drugs and Crime (UNODC) report, criminal organizations from East and Southeast Asia are swiftly extending their global reach. These groups are moving beyond traditional scams and trafficking, creating sophisticated online networks that include unlicensed cryptocurrency exchanges, encrypted communication platforms, and stablecoins, fueling a massive fraud economy on an industrial scale.
- Slovenia is considering a 25% capital gains tax on Bitcoin profits for individuals. The Ministry of Finance has proposed legislation to impose this tax on gains from cryptocurrency transactions, though exchanging one cryptocurrency for another would remain exempt. At present, individual 'crypto' traders in Slovenia are not taxed.
- Circle, BitGo, Coinbase, and Paxos plan to apply for U.S. bank charters or licenses. According to a report in The Wall Street Journal, major crypto companies are planning to apply for U.S. bank charters or licenses. These firms are pursuing limited licenses that would permit them to issue stablecoins, as the U.S. Congress deliberates on legislation mandating licensing for stablecoin issuers.
"Established banks, like Bank of America, are hoping to amend the current drafts of [stablecoin] legislation in such a way that nonbanks are more heavily restricted from issuing stablecoins," people familiar with the matter told The Block.
- Charles Schwab to launch spot Bitcoin trading by 2026. The financial investment firm, managing over $10 trillion in assets, has revealed plans to introduce spot Bitcoin trading for its clients within the next year.
Use the tools
- Bitcoin Safe v1.2.3 expands QR SignMessage compatibility for all QR-UR-compatible hardware signers (SpecterDIY, KeyStone, Passport, Jade; already supported COLDCARD Q). It also adds the ability to import wallets via QR, ensuring compatibility with Keystone's latest firmware (2.0.6), alongside other improvements.
- Minibits v0.2.2-beta, an ecash wallet for Android devices, packages many changes to align the project with the planned iOS app release. New features and improvements include the ability to lock ecash to a receiver's pubkey, faster confirmations of ecash minting and payments thanks to WebSockets, UI-related fixes, and more.
- Zeus v0.11.0-alpha1 introduces Cashu wallets tied to embedded LND wallets. Navigate to Settings > Ecash to enable it. Other wallet types can still sweep funds from Cashu tokens. Zeus Pay now supports Cashu address types in Zaplocker, Cashu, and NWC modes.
- LNDg v1.10.0, an advanced web interface designed for analyzing Lightning Network Daemon (LND) data and automating node management tasks, introduces performance improvements, adds a new metrics page for unprofitable and stuck channels, and displays warnings for batch openings. The Profit and Loss Chart has been updated to include on-chain costs. Advanced settings have been added for users who would like their channel database size to be read remotely (the default remains local). Additionally, the AutoFees tool now uses aggregated pubkey metrics for multiple channels with the same peer.
- Nunchuk Desktop v1.9.45 release brings the latest bug fixes and improvements.
- Blockstream Green iOS v4.1.8 has renamed L-BTC to LBTC, and improves translations of notifications, login time, and background payments.
- Blockstream Green Android v4.1.8 has added language preference in App Settings and enables an Android data backup option for disaster recovery. Additionally, it fixes issues with Jade entry point PIN timeout and Trezor passphrase input.
- Torq v2.2.2, an advanced Lightning node management software designed to handle large nodes with over 1000 channels, fixes bugs that caused channel balance to not be updated in some cases and channel "peer total local balance" not getting updated.
- Stack Wallet v2.1.12, a multicoin wallet by Cypher Stack, fixes an issue with Xelis introduced in the latest release for Windows.
- ESP-Miner-NerdQAxePlus v1.0.29.1, a forked version from the NerdAxe miner that was modified for use on the NerdQAxe+, is now available.
- Zark enables sending sats to an npub using Bark.
- Erk is a novel variation of the Ark protocol that completely removes the need for user interactivity in rounds, addressing one of Ark's key limitations: the requirement for users to come online before their VTXOs expire.
- Aegis v0.1.1 is now available. It is a Nostr event signer app for iOS devices.
- Nostash is a NIP-07 Nostr signing extension for Safari. It is a fork of Nostore and is maintained by Terry Yiu. Available on iOS TestFlight.
- Amber v3.2.8, a Nostr event signer for Android, delivers the latest fixes and improvements.
- Nostur v1.20.0, a Nostr client for iOS, adds
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@ 7f6db517:a4931eda
2025-06-07 10:02:24
People forget Bear Stearns failed March 2008 - months of denial followed before the public realized how bad the situation was under the surface.
Similar happening now but much larger scale. They did not fix fundamental issues after 2008 - everything is more fragile.
The Fed preemptively bailed out every bank with their BTFP program and First Republic Bank still failed. The second largest bank failure in history.
There will be more failures. There will be more bailouts. Depositors will be "protected" by socializing losses across everyone.
Our President and mainstream financial pundits are currently pretending the banking crisis is over while most banks remain insolvent. There are going to be many more bank failures as this ponzi system unravels.
Unlike 2008, we have the ability to opt out of these broken and corrupt institutions by using bitcoin. Bitcoin held in self custody is unique in its lack of counterparty risk - you do not have to trust a bank or other centralized entity to hold it for you. Bitcoin is also incredibly difficult to change by design since it is not controlled by an individual, company, or government - the supply of dollars will inevitably be inflated to bailout these failing banks but bitcoin supply will remain unchanged. I do not need to convince you that bitcoin provides value - these next few years will convince millions.
If you found this post helpful support my work with bitcoin.
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@ dfa02707:41ca50e3
2025-06-07 14:01:22
Contribute to keep No Bullshit Bitcoin news going.
- The latest firmware updates for COLDCARD devices introduce two major features: COLDCARD Co-sign (CCC) and Key Teleport between two COLDCARD Q devices using QR codes and/or NFC with a website.
What's new
- COLDCARD Co-Sign: When CCC is enabled, a second seed called the Spending Policy Key (Key C) is added to the device. This seed works with the device's Main Seed and one or more additional XPUBs (Backup Keys) to form 2-of-N multisig wallets.
- The spending policy functions like a hardware security module (HSM), enforcing rules such as magnitude and velocity limits, address whitelisting, and 2FA authentication to protect funds while maintaining flexibility and control, and is enforced each time the Spending Policy Key is used for signing.
- When spending conditions are met, the COLDCARD signs the partially signed bitcoin transaction (PSBT) with the Main Seed and Spending Policy Key for fund access. Once configured, the Spending Policy Key is required to view or change the policy, and violations are denied without explanation.
"You can override the spending policy at any time by signing with either a Backup Key and the Main Seed or two Backup Keys, depending on the number of keys (N) in the multisig."
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A step-by-step guide for setting up CCC is available here.
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Key Teleport for Q devices allows users to securely transfer sensitive data such as seed phrases (words, xprv), secure notes and passwords, and PSBTs for multisig. It uses QR codes or NFC, along with a helper website, to ensure reliable transmission, keeping your sensitive data protected throughout the process.
- For more technical details, see the protocol spec.
"After you sign a multisig PSBT, you have option to “Key Teleport” the PSBT file to any one of the other signers in the wallet. We already have a shared pubkey with them, so the process is simple and does not require any action on their part in advance. Plus, starting in this firmware release, COLDCARD can finalize multisig transactions, so the last signer can publish the signed transaction via PushTX (NFC tap) to get it on the blockchain directly."
- Multisig transactions are finalized when sufficiently signed. It streamlines the use of PushTX with multisig wallets.
- Signing artifacts re-export to various media. Users are now provided with the capability to export signing products, like transactions or PSBTs, to alternative media rather than the original source. For example, if a PSBT is received through a QR code, it can be signed and saved onto an SD card if needed.
- Multisig export files are signed now. Public keys are encoded as P2PKH address for all multisg signature exports. Learn more about it here.
- NFC export usability upgrade: NFC keeps exporting until CANCEL/X is pressed.
- Added Bitcoin Safe option to Export Wallet.
- 10% performance improvement in USB upload speed for large files.
- Q: Always choose the biggest possible display size for QR.
Fixes
- Do not allow change Main PIN to same value already used as Trick PIN, even if Trick PIN is hidden.
- Fix stuck progress bar under
Receiving...after a USB communications failure. - Showing derivation path in Address Explorer for root key (m) showed double slash (//).
- Can restore developer backup with custom password other than 12 words format.
- Virtual Disk auto mode ignores already signed PSBTs (with “-signed” in file name).
- Virtual Disk auto mode stuck on “Reading…” screen sometimes.
- Finalization of foreign inputs from partial signatures. Thanks Christian Uebber!
- Temporary seed from COLDCARD backup failed to load stored multisig wallets.
Destroy Seedalso removes all Trick PINs from SE2.Lock Down Seedrequires pressing confirm key (4) to execute.- Q only: Only BBQr is allowed to export Coldcard, Core, and pretty descriptor.
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@ dfa02707:41ca50e3
2025-06-06 20:02:21
Contribute to keep No Bullshit Bitcoin news going.
-
Version 1.3 of Bitcoin Safe introduces a redesigned interactive chart, quick receive feature, updated icons, a mempool preview window, support for Child Pays For Parent (CPFP) and testnet4, preconfigured testnet demo wallets, as well as various bug fixes and improvements.
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Upcoming updates for Bitcoin Safe include Compact Block Filters.
"Compact Block Filters increase the network privacy dramatically, since you're not asking an electrum server to give you your transactions. They are a little slower than electrum servers. For a savings wallet like Bitcoin Safe this should be OK," writes the project's developer Andreas Griffin.
- Learn more about the current and upcoming features of Bitcoin Safe wallet here.
What's new in v1.3
- Redesign of Chart, Quick Receive, Icons, and Mempool Preview (by @design-rrr).
- Interactive chart. Clicking on it now jumps to transaction, and selected transactions are now highlighted.
- Speed up transactions with Child Pays For Parent (CPFP).
- BDK 1.2 (upgraded from 0.32).
- Testnet4 support.
- Preconfigured Testnet demo wallets.
- Cluster unconfirmed transactions so that parents/children are next to each other.
- Customizable columns for all tables (optional view: Txid, Address index, and more)
- Bug fixes and other improvements.
Announcement / Archive
Blog Post / Archive
GitHub Repo
Website -
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@ 7f6db517:a4931eda
2025-06-07 10:02:24
Bank run on every crypto bank then bank run on every "real" bank.
— ODELL (@ODELL) December 14, 2022
Good morning.
It looks like PacWest will fail today. It will be both the fifth largest bank failure in US history and the sixth major bank to fail this year. It will likely get purchased by one of the big four banks in a government orchestrated sale.
March 8th - Silvergate Bank
March 10th - Silicon Valley Bank
March 12th - Signature Bank
March 19th - Credit Suisse
May 1st - First Republic Bank
May 4th - PacWest Bank?PacWest is the first of many small regional banks that will go under this year. Most will get bought by the big four in gov orchestrated sales. This has been the playbook since 2008. Follow the incentives. Massive consolidation across the banking industry. PacWest gonna be a drop in the bucket compared to what comes next.
First, a hastened government led bank consolidation, then a public/private partnership with the remaining large banks to launch a surveilled and controlled digital currency network. We will be told it is more convenient. We will be told it is safer. We will be told it will prevent future bank runs. All of that is marketing bullshit. The goal is greater control of money. The ability to choose how we spend it and how we save it. If you control the money - you control the people that use it.
If you found this post helpful support my work with bitcoin.
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@ dfa02707:41ca50e3
2025-06-07 14:01:20
Contribute to keep No Bullshit Bitcoin news going.
- RoboSats v0.7.7-alpha is now available!
NOTE: "This version of clients is not compatible with older versions of coordinators. Coordinators must upgrade first, make sure you don't upgrade your client while this is marked as pre-release."
- This version brings a new and improved coordinators view with reviews signed both by the robot and the coordinator, adds market price sources in coordinator profiles, shows a correct warning for canceling non-taken orders after a payment attempt, adds Uzbek sum currency, and includes package library updates for coordinators.
Source: RoboSats.
- siggy47 is writing daily RoboSats activity reviews on stacker.news. Check them out here.
- Stay up-to-date with RoboSats on Nostr.
What's new
- New coordinators view (see the picture above).
- Available coordinator reviews signed by both the robot and the coordinator.
- Coordinators now display market price sources in their profiles.
Source: RoboSats.
- Fix for wrong message on cancel button when taking an order. Users are now warned if they try to cancel a non taken order after a payment attempt.
- Uzbek sum currency now available.
- For coordinators: library updates.
- Add docker frontend (#1861).
- Add order review token (#1869).
- Add UZS migration (#1875).
- Fixed tests review (#1878).
- Nostr pubkey for Robot (#1887).
New contributors
Full Changelog: v0.7.6-alpha...v0.7.7-alpha
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@ c2fc4da5:6f0c7ccc
2025-06-07 21:26:11
Literally wtf people...
Am I hallucinating or did all the people who value freedom leave the room? I'm old enough to remember when the point of Bitcoin was freedom. The new version of "self custody" is being locked into one vendor and depending on big tech's cloud (read someone else's computer) and good graces. The reason I got into Bitcoin was to depend on no one. Only by taking full responsibility for the well being of myself and my family could I be the kind of husband, father, and hopefully eventually grandfather that I wanted to be. I did not get into Bitcoin to be a cuckold.
I will be the change I want to see in the world. I will help men to be fishers with their own families and legacies.
We are building a Nostr first business in the open that with nostr:nprofile1qyt8wumn8ghj7cnfw33k76twv4ezuum0vd5kzmqpzpmhxue69uhkummnw3ezuamfdejsqgxv43pk4mqurmp2u522mc9cvn3n0vzv6vxvy8zs6ulq46cdf7khz53utk7y , miniscript, timelocks, and taproot provides Your bitcoin, your legacy. Liana is Self Custody as resilient and redundant as Anchorwatch but fully open source, self sovereign, and no KYC.
We will provide onboarding and support to The Most Secure and Private Self Custody Ever, Done the Right Way. There is always a tradeoff, and the cost with this approach is more effort to setup. That's where we help and hold your hand to make things easy. We provide written documentation and support for onboarding and inheritance.
We are soft launching on Nostr and pledge to send 20% of revenue as zaps to Liana as we validate our MVP and work to become a formal authorized reseller. This is the business account, being built by nostr:nprofile1qyt8wue69uhh2mtzwfjkctnvda3kzmp6xsurgwqpzpmhxue69uhkummnw3ezumrpdejqqg9yypyd063xa8pk5ea4lunxc5ygs25fm03kaasrejwxwf3jdzrvxggv5pn2
All current providers make suboptimal tradeoffs:
-
Security around Backups/Inheritance\ All current bitcoin self custody options have at least some ability for the wallet provider and/or heirs to conspire to steal funds or at least deny access. It’s only a matter of time before AI and deepfakes start compromising these systems. Do you really think Unchained can tell if its really you or just a deepfake? LMAO With With everyone having 1 key at home and 1 key a deepfake or kidnapping/coercion away, funds can be stolen with a visit to your home and short delay.
-
Self sovereign resiliency\ The existing multisig options have points of failure that most overlook. Ever wonder why multisig providers brag about how much Bitcoin they protect? How do they even know that? They can see your entire stack, every detail, every transaction, and know exactly what your security model is. If a multisig provider has one of your keys and an heir has a key then that multisig provider can conspire to take funds, FULL STOP. Do you really think this won't happen when we reach $10M per BTC? Really, okay then do you really think this won't happen when we reach $10M per BTC and the government kidnaps and tortures them or kidnaps their family?
-
Lowest development and cost structure\ This uses only open source off the self software allows for rapid low cost deployment.
-
Fuck ETFs and MSTR
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@ b2a8fdbc:dcab1f03
2025-06-08 03:07:19
ถ้าเรามี "เงินที่ดี" ที่มีจำนวนจำกัดและสามารถเก็บมูลค่าได้อย่างแท้จริง ภาวะเงินฝืดที่เกิดจากคุณสมบัติเช่นนี้ อาจนำไปสู่ผลลัพธ์ที่เป็นบวกอย่างมหาศาลต่อคุณภาพชีวิตและมุมมองของมนุษย์ต่อการดำรงอยู่ ไม่ใช่เพียงแค่ความกังวลเรื่องการว่างงาน
เงินฝืด: ก้าวข้ามความกลัวการตกงาน สู่การค้นหาความหมายของชีวิต แนวคิดที่ว่ามนุษย์ไม่ได้เกิดมาเพื่อทำงานหากินไปแต่ละวัน แต่เพื่อค้นหาความหมายที่แท้จริงของชีวิต เป็นปรัชญาที่ลึกซึ้ง และสอดคล้องกับแนวคิดที่ว่า เมื่อเงินมีคุณสมบัติที่มั่นคงและมีจำกัด อาจนำมาซึ่งการเปลี่ยนแปลงเชิงบวกดังนี้:
1. ความมั่นคงทางการเงินและคุณภาพชีวิตที่ดีขึ้น เมื่อเงินมีคุณสมบัติที่เก็บรักษามูลค่าได้ดี นั่นหมายความว่ากำลังซื้อของเงินจะไม่ลดลงไปตามกาลเวลา ตรงกันข้าม อาจเพิ่มขึ้นด้วยซ้ำในระบบเศรษฐกิจที่มีประสิทธิภาพ สิ่งนี้จะส่งผลให้:
- ลดความกังวลเรื่องค่าครองชีพ : ผู้คนจะกังวลเรื่องรายได้ไม่พอค่าใช้จ่ายน้อยลง เพราะเงินที่หามาได้ในวันนี้ จะมีมูลค่าที่คงที่หรือเพิ่มขึ้นในอนาคต ทำให้วางแผนชีวิตได้ง่ายขึ้น
- การออมและการลงทุนมีประสิทธิภาพ : แรงจูงใจในการออมจะสูงขึ้น เพราะเงินที่เก็บไว้มีมูลค่าเพิ่มขึ้นเอง ทำให้เกิดความมั่งคั่งสะสมได้ง่ายขึ้น ซึ่งสามารถนำไปลงทุนในสิ่งที่มีคุณค่าอย่างแท้จริง
- ปลดล็อคจากวงจร "วิ่งไล่จับเงิน": เมื่อไม่ต้องกังวลเรื่องเงินเฟ้อกัดกินมูลค่าเงิน มนุษย์อาจไม่จำเป็นต้องทำงานหนักมากเพื่อชดเชยกำลังซื้อที่หายไป ทำให้มีเวลาและพลังงานเหลือเฟือสำหรับสิ่งอื่น ๆ ในชีวิต
2. การนิยาม "งาน" และ "คุณค่า" ใหม่ ในบริบทที่เงินมีความมั่นคง การทำงานอาจไม่ได้ถูกมองว่าเป็นเพียงหนทางในการ "หาเลี้ยงชีพ" อีกต่อไป แต่จะกลายเป็นการสร้างคุณค่าที่แท้จริง:
- งานที่สร้างสรรค์และมีความหมาย : ผู้คนอาจมีอิสระมากขึ้นในการเลือกทำงานที่ตนเองหลงใหล มีความหมาย หรือสร้างสรรค์สิ่งใหม่ ๆ ที่เป็นประโยชน์ต่อสังคม ไม่ใช่แค่การทำงานเพื่อเงิน
- ลดการแข่งขันที่ไม่จำเป็น : เมื่อมูลค่าของเงินมั่นคง การแข่งขันเพื่อแย่งชิงทรัพยากรที่มีจำกัดอาจลดลง ทำให้สังคมมีทิศทางที่ร่วมมือกันมากขึ้น
- การพัฒนามนุษย์อย่างรอบด้าน : เมื่อมีเวลาและทรัพยากรมากขึ้น มนุษย์จะมีโอกาสในการเรียนรู้ พัฒนาทักษะใหม่ ๆ หรือทุ่มเทให้กับงานอดิเรกและความสนใจส่วนตัว ซึ่งนำไปสู่การพัฒนาตนเองอย่างรอบด้าน
3. การมุ่งเน้นไปที่ความหมายที่แท้จริงของชีวิต หากมนุษย์หลุดพ้นจากพันธนาการของการ "ทำงานเพื่ออยู่รอด" ก็จะมีพื้นที่ทางความคิดและจิตใจที่กว้างขวางขึ้นเพื่อ:
- ค้นหาความสุขจากภายใน : ความสุขอาจไม่ได้มาจากการสะสมวัตถุ แต่มาจากการใช้ชีวิตอย่างมีสติ การเชื่อมโยงกับผู้อื่น หรือการทำกิจกรรมที่เติมเต็มจิตใจ
- การพัฒนาจิตวิญญาณ : มีเวลามากขึ้นในการสำรวจปรัชญา ศาสนา หรือศิลปะ เพื่อค้นหาความหมายของชีวิตที่ลึกซึ้งกว่าการบริโภค
- การดูแลสิ่งแวดล้อมและสังคม : เมื่อความกังวลเรื่องเศรษฐกิจลดลง สังคมอาจหันมาให้ความสำคัญกับการรักษาสิ่งแวดล้อม การแก้ปัญหาสังคม และการสร้างโลกที่ดีขึ้นสำหรับทุกคน
"เงินที่ดี" ที่มีคุณสมบัติจำกัดและเก็บมูลค่าได้นั้น มีศักยภาพที่จะเปลี่ยนแปลงพลวัตของสังคมและช่วยให้มนุษย์สามารถมีชีวิตที่มั่งคั่งและมีความหมายได้มากขึ้น โดยไม่ได้ถูกจำกัดอยู่เพียงแค่การทำงานเพื่อความอยู่รอดเท่านั้น
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@ 81022b27:2b8d0644
2025-06-07 22:49:13
I’m always doing work on myself. I have read reams of self-help books, attended seminars, bought cassette tape programs and CDs (remember those?), had a stint with Dianetics and Scientology, the Landmark Forum, you name it. My last seminar was Unleash the Power Within with Tony Robbins.
Addicted? Maybe. But I always feel there’s room for improvement.
Over the years, I’ve explored meditation and uncovering hidden blocks that affect how I operate in this world.
So I was experimenting (in my head) with things that made me uncomfortable.
One of them was math.
I told myself, “Math is an easy subject, and I can work out problems in my head.”
Immediately I felt a bunch of resistance.
Then something else came up.
I used to do math problems in my head with no trouble. But I remembered a grade school teacher who “wanted to see my work.”
I told him, “What does it matter? I got the right answer; I did it in my head.”
This teacher insisted I show my work, and I did not see the logic behind it. It was stupid and slowed me down.
I started getting failing grades because I couldn’t show my work.
So at some point, I gave up and said, “MATH IS STUPID.”
Fast forward years later, and I’m doing everything I can to avoid taking classes related to math.
So much so that when I decided to start chiropractic school, I was lacking math credits. I was delayed a few quarters because I needed the math credits before I started chiropractic college.
All because a silly math teacher didn’t recognize that I might have had a natural ability for it—and instead of nurturing it, he made me hate it.
Here’s the thing: I told myself for many years that I wasn’t good at math.
That was just the way I saw myself.
I was wrong.
I still have no desire to go solve equations or stuff like that. Maybe that ship has sailed. I won’t be Einstein scrawling complex equations on a chalkboard.
BUT WHAT IF?
WHAT LIES ARE YOU TELLING YOURSELF ABOUT YOURSELF?
Live Long and Prosper.
-Dan
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@ dfa02707:41ca50e3
2025-06-07 14:01:19
Contribute to keep No Bullshit Bitcoin news going.
-
Version 1.3 of Bitcoin Safe introduces a redesigned interactive chart, quick receive feature, updated icons, a mempool preview window, support for Child Pays For Parent (CPFP) and testnet4, preconfigured testnet demo wallets, as well as various bug fixes and improvements.
-
Upcoming updates for Bitcoin Safe include Compact Block Filters.
"Compact Block Filters increase the network privacy dramatically, since you're not asking an electrum server to give you your transactions. They are a little slower than electrum servers. For a savings wallet like Bitcoin Safe this should be OK," writes the project's developer Andreas Griffin.
- Learn more about the current and upcoming features of Bitcoin Safe wallet here.
What's new in v1.3
- Redesign of Chart, Quick Receive, Icons, and Mempool Preview (by @design-rrr).
- Interactive chart. Clicking on it now jumps to transaction, and selected transactions are now highlighted.
- Speed up transactions with Child Pays For Parent (CPFP).
- BDK 1.2 (upgraded from 0.32).
- Testnet4 support.
- Preconfigured Testnet demo wallets.
- Cluster unconfirmed transactions so that parents/children are next to each other.
- Customizable columns for all tables (optional view: Txid, Address index, and more)
- Bug fixes and other improvements.
Announcement / Archive
Blog Post / Archive
GitHub Repo
Website -
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@ 5d4b6c8d:8a1c1ee3
2025-06-08 01:48:23
Today was one of the best days I've had in a while. We had a long family outing, so lots of steps and sunshine and fresh air. I ate very well. No junk food at all. The only snacks I had were organic dark chocolate dipped in hodl butter.
Things to keep working on: I didn't sleep great (blame the Stanley Cup going to OT) and I didn't stick to my eating window.
How about you stackers? Let's here your ~HealthAndFitness triumphs and pitfalls.
https://stacker.news/items/1000285
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@ dfa02707:41ca50e3
2025-06-07 14:01:18
- This version introduces the Soroban P2P network, enabling Dojo to relay transactions to the Bitcoin network and share others' transactions to break the heuristic linking relaying nodes to transaction creators.
- Additionally, Dojo admins can now manage API keys in DMT with labels, status, and expiration, ideal for community Dojo providers like Dojobay. New API endpoints, including "/services" exposing Explorer, Soroban, and Indexer, have been added to aid wallet developers.
- Other maintenance updates include Bitcoin Core, Tor, Fulcrum, Node.js, plus an updated ban-knots script to disconnect inbound Knots nodes.
"I want to thank all the contributors. This again shows the power of true Free Software. I also want to thank everyone who donated to help Dojo development going. I truly appreciate it," said Still Dojo Coder.
What's new
- Soroban P2P network. For MyDojo (Docker setup) users, Soroban will be automatically installed as part of their Dojo. This integration allows Dojo to utilize the Soroban P2P network for various upcoming features and applications.
- PandoTx. PandoTx serves as a transaction transport layer. When your wallet sends a transaction to Dojo, it is relayed to a random Soroban node, which then forwards it to the Bitcoin network. It also enables your Soroban node to receive and relay transactions from others to the Bitcoin network and is designed to disrupt the assumption that a node relaying a transaction is closely linked to the person who initiated it.
- Pushing transactions through Soroban can be deactivated by setting
NODE_PANDOTX_PUSH=offindocker-node.conf. - Processing incoming transactions from Soroban network can be deactivated by setting
NODE_PANDOTX_PROCESS=offindocker-node.conf.
- Pushing transactions through Soroban can be deactivated by setting
- API key management has been introduced to address the growing number of people offering their Dojos to the community. Dojo admins can now access a new API management tab in their DMT, where they can create unlimited API keys, assign labels for easy identification, and set expiration dates for each key. This allows admins to avoid sharing their main API key and instead distribute specific keys to selected parties.
- New API endpoints. Several new API endpoints have been added to help API consumers develop features on Dojo more efficiently:
- New:
/latest-block- returns data about latest block/txout/:txid/:index- returns unspent output data/support/services- returns info about services that Dojo exposes
- Updated:
/tx/:txid- endpoint has been updated to return raw transaction with parameter?rawHex=1
- The new
/support/servicesendpoint replaces the deprecatedexplorerfield in the Dojo pairing payload. Although still present, API consumers should use this endpoint for explorer and other pairing data.
- New:
Other changes
- Updated ban script to disconnect inbound Knots nodes.
- Updated Fulcrum to v1.12.0.
- Regenerate Fulcrum certificate if expired.
- Check if transaction already exists in pushTx.
- Bump BTC-RPC Explorer.
- Bump Tor to v0.4.8.16, bump Snowflake.
- Updated Bitcoin Core to v29.0.
- Removed unnecessary middleware.
- Fixed DB update mechanism, added api_keys table.
- Add an option to use blocksdir config for bitcoin blocks directory.
- Removed deprecated configuration.
- Updated Node.js dependencies.
- Reconfigured container dependencies.
- Fix Snowflake git URL.
- Fix log path for testnet4.
- Use prebuilt addrindexrs binaries.
- Add instructions to migrate blockchain/fulcrum.
- Added pull policies.
Learn how to set up and use your own Bitcoin privacy node with Dojo here.
-
@ 7f6db517:a4931eda
2025-06-07 10:02:23
Nostr is an open communication protocol that can be used to send messages across a distributed set of relays in a censorship resistant and robust way.
If you missed my nostr introduction post you can find it here. My nostr account can be found here.
We are nearly at the point that if something interesting is posted on a centralized social platform it will usually be posted by someone to nostr.
We are nearly at the point that if something interesting is posted exclusively to nostr it is cross posted by someone to various centralized social platforms.
We are nearly at the point that you can recommend a cross platform app that users can install and easily onboard without additional guides or resources.
As companies continue to build walls around their centralized platforms nostr posts will be the easiest to cross reference and verify - as companies continue to censor their users nostr is the best censorship resistant alternative - gradually then suddenly nostr will become the standard. 🫡
Current Nostr Stats
If you found this post helpful support my work with bitcoin.
-
@ dfa02707:41ca50e3
2025-06-07 13:01:46
Contribute to keep No Bullshit Bitcoin news going.
-
Version 1.3 of Bitcoin Safe introduces a redesigned interactive chart, quick receive feature, updated icons, a mempool preview window, support for Child Pays For Parent (CPFP) and testnet4, preconfigured testnet demo wallets, as well as various bug fixes and improvements.
-
Upcoming updates for Bitcoin Safe include Compact Block Filters.
"Compact Block Filters increase the network privacy dramatically, since you're not asking an electrum server to give you your transactions. They are a little slower than electrum servers. For a savings wallet like Bitcoin Safe this should be OK," writes the project's developer Andreas Griffin.
- Learn more about the current and upcoming features of Bitcoin Safe wallet here.
What's new in v1.3
- Redesign of Chart, Quick Receive, Icons, and Mempool Preview (by @design-rrr).
- Interactive chart. Clicking on it now jumps to transaction, and selected transactions are now highlighted.
- Speed up transactions with Child Pays For Parent (CPFP).
- BDK 1.2 (upgraded from 0.32).
- Testnet4 support.
- Preconfigured Testnet demo wallets.
- Cluster unconfirmed transactions so that parents/children are next to each other.
- Customizable columns for all tables (optional view: Txid, Address index, and more)
- Bug fixes and other improvements.
Announcement / Archive
Blog Post / Archive
GitHub Repo
Website -
-
@ dfa02707:41ca50e3
2025-06-07 14:01:18
Contribute to keep No Bullshit Bitcoin news going.
This update brings key enhancements for clarity and usability:
- Recent Blocks View: Added to the Send tab and inspired by Mempool's visualization, it displays the last 2 blocks and the estimated next block to help choose fee rates.
- Camera System Overhaul: Features a new library for higher resolution detection and mouse-scroll zoom support when available.
- Vector-Based Images: All app images are now vectorized and theme-aware, enhancing contrast, especially in dark mode.
- Tor & P2A Updates: Upgraded internal Tor and improved support for pay-to-anchor (P2A) outputs.
- Linux Package Rename: For Linux users, Sparrow has been renamed to sparrowwallet (or sparrowserver); in some cases, the original sparrow package may need manual removal.
- Additional updates include showing total payments in multi-payment transaction diagrams, better handling of long labels, and other UI enhancements.
- Sparrow v2.2.1 is a bug fix release that addresses missing UUID issue when starting Tor on recent macOS versions, icons for external sources in Settings and Recent Blocks view, repackaged
.debinstalls to use older gzip instead of zstd compression, and removed display of median fee rate where fee rates source is set to Server.
Learn how to get started with Sparrow wallet:
Release notes (v2.2.0)
- Added Recent Blocks view to Send tab.
- Converted all bitmapped images to theme aware SVG format for all wallet models and dialogs.
- Support send and display of pay to anchor (P2A) outputs.
- Renamed
sparrowpackage tosparrowwalletandsparrowserveron Linux. - Switched camera library to openpnp-capture.
- Support FHD (1920 x 1080) and UHD4k (3840 x 2160) capture resolutions.
- Support camera zoom with mouse scroll where possible.
- In the Download Verifier, prefer verifying the dropped file over the default file where the file is not in the manifest.
- Show a warning (with an option to disable the check) when importing a wallet with a derivation path matching another script type.
- In Cormorant, avoid calling the
listwalletdirRPC on initialization due to a potentially slow response on Windows. - Avoid server address resolution for public servers.
- Assume server address is non local for resolution failures where a proxy is configured.
- Added a tooltip to indicate truncated labels in table cells.
- Dynamically truncate input and output labels in the tree on a transaction tab, and add tooltips if necessary.
- Improved tooltips for wallet tabs and transaction diagrams with long labels.
- Show the address where available on input and output tooltips in transaction tab tree.
- Show the total amount sent in payments in the transaction diagram when constructing multiple payment transactions.
- Reset preferred table column widths on adjustment to improve handling after window resizing.
- Added accessible text to improve screen reader navigation on seed entry.
- Made Wallet Summary table grow horizontally with dialog sizing.
- Reduced tooltip show delay to 200ms.
- Show transaction diagram fee percentage as less than 0.01% rather than 0.00%.
- Optimized and reduced Electrum server RPC calls.
- Upgraded Bouncy Castle, PGPainless and Logback libraries.
- Upgraded internal Tor to v0.4.8.16.
- Bug fix: Fixed issue with random ordering of keystore origins on labels import.
- Bug fix: Fixed non-zero account script type detection when signing a message on Trezor devices.
- Bug fix: Fixed issue parsing remote Coldcard xpub encoded on a different network.
- Bug fix: Fixed inclusion of fees on wallet label exports.
- Bug fix: Increase Trezor device libusb timeout.
Linux users: Note that the
sparrowpackage has been renamed tosparrowwalletorsparrowserver, and in some cases you may need to manually uninstall the originalsparrowpackage. Look in the/optfolder to ensure you have the new name, and the original is removed.What's new in v2.2.1
- Updated Tor library to fix missing UUID issue when starting Tor on recent macOS versions.
- Repackaged
.debinstalls to use older gzip instead of zstd compression. - Removed display of median fee rate where fee rates source is set to Server.
- Added icons for external sources in Settings and Recent Blocks view
- Bug fix: Fixed issue in Recent Blocks view when switching fee rates source
- Bug fix: Fixed NPE on null fee returned from server
-
@ dfa02707:41ca50e3
2025-06-07 13:01:45
- This version introduces the Soroban P2P network, enabling Dojo to relay transactions to the Bitcoin network and share others' transactions to break the heuristic linking relaying nodes to transaction creators.
- Additionally, Dojo admins can now manage API keys in DMT with labels, status, and expiration, ideal for community Dojo providers like Dojobay. New API endpoints, including "/services" exposing Explorer, Soroban, and Indexer, have been added to aid wallet developers.
- Other maintenance updates include Bitcoin Core, Tor, Fulcrum, Node.js, plus an updated ban-knots script to disconnect inbound Knots nodes.
"I want to thank all the contributors. This again shows the power of true Free Software. I also want to thank everyone who donated to help Dojo development going. I truly appreciate it," said Still Dojo Coder.
What's new
- Soroban P2P network. For MyDojo (Docker setup) users, Soroban will be automatically installed as part of their Dojo. This integration allows Dojo to utilize the Soroban P2P network for various upcoming features and applications.
- PandoTx. PandoTx serves as a transaction transport layer. When your wallet sends a transaction to Dojo, it is relayed to a random Soroban node, which then forwards it to the Bitcoin network. It also enables your Soroban node to receive and relay transactions from others to the Bitcoin network and is designed to disrupt the assumption that a node relaying a transaction is closely linked to the person who initiated it.
- Pushing transactions through Soroban can be deactivated by setting
NODE_PANDOTX_PUSH=offindocker-node.conf. - Processing incoming transactions from Soroban network can be deactivated by setting
NODE_PANDOTX_PROCESS=offindocker-node.conf.
- Pushing transactions through Soroban can be deactivated by setting
- API key management has been introduced to address the growing number of people offering their Dojos to the community. Dojo admins can now access a new API management tab in their DMT, where they can create unlimited API keys, assign labels for easy identification, and set expiration dates for each key. This allows admins to avoid sharing their main API key and instead distribute specific keys to selected parties.
- New API endpoints. Several new API endpoints have been added to help API consumers develop features on Dojo more efficiently:
- New:
/latest-block- returns data about latest block/txout/:txid/:index- returns unspent output data/support/services- returns info about services that Dojo exposes
- Updated:
/tx/:txid- endpoint has been updated to return raw transaction with parameter?rawHex=1
- The new
/support/servicesendpoint replaces the deprecatedexplorerfield in the Dojo pairing payload. Although still present, API consumers should use this endpoint for explorer and other pairing data.
- New:
Other changes
- Updated ban script to disconnect inbound Knots nodes.
- Updated Fulcrum to v1.12.0.
- Regenerate Fulcrum certificate if expired.
- Check if transaction already exists in pushTx.
- Bump BTC-RPC Explorer.
- Bump Tor to v0.4.8.16, bump Snowflake.
- Updated Bitcoin Core to v29.0.
- Removed unnecessary middleware.
- Fixed DB update mechanism, added api_keys table.
- Add an option to use blocksdir config for bitcoin blocks directory.
- Removed deprecated configuration.
- Updated Node.js dependencies.
- Reconfigured container dependencies.
- Fix Snowflake git URL.
- Fix log path for testnet4.
- Use prebuilt addrindexrs binaries.
- Add instructions to migrate blockchain/fulcrum.
- Added pull policies.
Learn how to set up and use your own Bitcoin privacy node with Dojo here.
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@ b1ddb4d7:471244e7
2025-06-07 20:01:34
Picture this: you’re trying to buy coffee with Bitcoin, but instead of waiting 10 minutes for blockchain confirmation and paying $5 in fees, your transaction completes instantly for a fraction of a penny.
That’s the promise of the Lightning Network, Bitcoin’s most ambitious scaling solution.
But here’s the thing that most people don’t realize – the entire system only works because of an intricate web of technical standards that most users never see.
These standards, known as BOLTs (Basis of Lightning Technology), are the invisible foundation that makes Lightning’s magic possible. Without them, we’d have a fragmented mess of incompatible systems rather than the seamless payment network that’s processing millions of transactions today.
The Protocol Puzzle: Why Lightning Needed Standards
When Lightning Network was first conceived in 2015, it faced a classic chicken-and-egg problem. Multiple development teams were working on implementations – Lightning Labs with LND, Blockstream with c-lightning, and ACINQ with Eclair – but they all had slightly different ideas about how things should work. Without coordination, these would have become isolated islands of functionality.
Think about the early days of instant messaging, when AOL Instant Messenger users couldn’t talk to Yahoo Messenger users. That’s exactly what Lightning developers wanted to avoid. The solution was BOLT – a comprehensive set of technical specifications that would ensure any Lightning implementation could talk to any other, regardless of who built it.
The first BOLT specifications emerged in 2016, but they weren’t just academic exercises. These documents had to solve real engineering challenges: How do you route payments through a network of payment channels? How do you ensure privacy when every transaction could potentially be monitored? How do you handle the inevitable network failures and channel closures?
Inside the BOLT Specifications: A Technical Breakdown
The BOLT specifications read like a blueprint for building a parallel financial system. Each document tackles a specific piece of the Lightning puzzle, and together they create something remarkably sophisticated.
BOLT #1 establishes the foundation – the basic message formats and communication rules that every Lightning node must understand. It’s like defining the grammar of a new language that computers use to talk about money. This specification covers everything from how nodes identify themselves to the basic structure of Lightning messages.
BOLT #2 gets into the nitty-gritty of channel management, the heart of Lightning’s functionality. Payment channels are essentially shared cryptocurrency wallets between two parties, and managing them securely requires incredibly precise coordination. This specification defines exactly how nodes negotiate channel parameters, handle updates, and gracefully close channels when needed. One wrong step here, and funds could be lost forever.
The routing problem gets its due attention in BOLT #4, which implements something called “onion routing” – the same privacy technique used by Tor. When you send a Lightning payment, each node in the path only knows the previous and next hop, never the full route. The sender wraps the payment instructions in multiple layers of encryption, like nested Russian dolls, with each node peeling off one layer to reveal just enough information to forward the payment.
BOLT #7 tackles network discovery – how nodes find each other in the first place. Unlike traditional payment networks with centralized directories, Lightning is completely peer-to-peer. Nodes gossip about available channels and routing fees, creating a constantly updating map of the network that every participant shares.
Perhaps the most user-facing specification is BOLT #11, which standardizes Lightning invoices. Those QR codes you scan to make Lightning payments? They’re not just random data – they’re precisely formatted requests that include payment amounts, destination information, and routing hints, all encoded in a way that any Lightning wallet can understand.
But BOLT #11 is just the beginning of Lightning’s invoice evolution. BOLT #12 represents the next generation of Lightning payments with “offers” – a revolutionary approach that makes Lightning payments as easy as traditional online shopping.
The User Experience Revolution: BOLT #11 and the Invoice Problem
To understand why BOLT #11 was so crucial, you need to appreciate just how clunky early Lightning payments were. Before standardized invoices, sending a Lightning payment required manually entering node public keys, payment hashes, and routing information – a process so error-prone that one wrong character could send your Bitcoin into the digital void.
BOLT #11 changed everything by creating a standardized invoice format that packs all necessary payment information into a single, human-readable string. These invoices use a clever encoding scheme called Bech32 (the same format used for modern Bitcoin addresses) that includes built-in error detection. If you accidentally change a character when copying an invoice, your wallet will immediately know something’s wrong.
But the real genius of BOLT #11 lies in its flexibility. Lightning invoices can include optional routing hints that help wallets find paths to the recipient, even if they’re not well-connected to the broader network. They can specify exact amounts or leave them open for the sender to choose. They can include expiration times, descriptions of what’s being purchased, and even fallback Bitcoin addresses for when Lightning payments fail.
The specification also solved a crucial privacy problem. Early Lightning implementations often revealed too much information about recipients in their invoices. BOLT #11 carefully balances the need for routing information with privacy protection, ensuring that invoices contain just enough data to enable payments without exposing unnecessary details about the recipient’s node or channels.
The Next Evolution: BOLT #12 and the Promise of Offers
While BOLT #11 invoices solved the immediate usability problem, they still had significant limitations that became apparent as Lightning adoption grew. Traditional invoices are single-use, expire relatively quickly, and require the recipient to generate a new one for each payment. Try to explain to your grandmother why she needs to create a new QR code every time someone wants to send her money, and you’ll quickly understand the problem.
BOLT #12, currently being implemented across Lightning software, introduces “offers” – a completely new approach to requesting Lightning payments that works more like traditional payment systems. Instead of creating single-use invoices, merchants and individuals can create reusable offers that work like persistent payment addresses.
The technical innovation behind offers is fascinating. When someone wants to pay an offer, their wallet first contacts the recipient’s node and requests a fresh invoice specifically for that payment. This happens automatically and invisibly to the user, but it solves several critical problems that plagued BOLT #11 invoices.
First, offers enable recurring payments. A subscription service can create a single offer that customers’ wallets can automatically pay monthly, weekly, or on any schedule. The recipient generates a fresh invoice for each payment, maintaining security while enabling the convenience of automated billing.
Second, offers dramatically improve privacy. Because each payment uses a freshly generated invoice, it’s much harder for external observers to correlate multiple payments to the same recipient. Someone monitoring the Lightning network might see that Alice paid 50,000 satoshis to some node, but they can’t easily determine if this was her first payment to that merchant or her hundredth.
The specification also introduces “offer chains” – a way to create offers that can be paid multiple times with different amounts. A coffee shop could create a single offer that customers can pay for any amount, with their wallets automatically calculating tips or adjusting for different menu items.
Behind the Scenes: The Technical Complexity of Simple Payments
What makes BOLT #12 particularly impressive is how it maintains simplicity for users while handling incredible complexity behind the scenes. When your wallet processes an offer, it’s actually engaging in a sophisticated cryptographic dance with the recipient’s node.
The process starts when you scan an offer QR code. Your wallet extracts the recipient’s node information and initiates a connection using the encrypted transport protocol defined in BOLT #8. It then sends a specially formatted request for an invoice, including details about how much you want to pay and any additional information required by the offer.
The recipient’s node validates your request, generates a fresh BOLT #11 invoice specifically for your payment, and sends it back to your wallet. Your wallet then processes this invoice and completes the payment using the standard Lightning routing protocols. The entire process typically takes a few seconds, but it involves multiple round-trips between nodes and several cryptographic operations.
This two-step process – request invoice, then pay invoice – might seem unnecessarily complex, but it elegantly solves problems that plagued earlier Lightning payment systems. It prevents invoice reuse attacks, enables advanced privacy features, and allows for much more flexible payment scenarios.
The Merchant Revolution: From Invoices to Commerce
The evolution from BOLT #11
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@ c9faf2ec:b6f67eb5
2025-06-07 18:30:16
Who am I, and why am I writing this?\ \ Hi, I’m James Isaacs. Over the past few years, I’ve worked at the intersection of workforce strategy, business operations, and industry development—primarily in New Zealand’s arboriculture sector, but what I’m about to share applies far more widely. Many hands-on, asset-heavy industries are facing similar challenges: Skill shortages, owners trapped in their businesses with no easy exit, and a constant leakage of value as experienced people leave or companies wind down.
This article introduces a practical framework that leverages Bitcoin as a tool for value preservation—both for workers and business owners—paired with succession strategies that actually work in the real world. While my examples come from arboriculture, these principles can be adapted to any trade or industry where retaining skills, preserving business value, and enabling fair transitions matter. If you see parallels in your own field, I hope you’ll find this a useful starting point—or even a nudge toward piloting something new.
The Problem: Value is Leaking from Arboriculture
New Zealand’s arboriculture industry is facing a crisis of value. It shows up as skill shortages, owners struggling to exit their businesses, and a sector that’s losing its best people and most hard-earned expertise. Here’s how the problem breaks down:
1. Employees aren’t building real wealth.\ Wages have failed to keep up with the cost of living, especially with housing inflating at eye-watering rates. Many skilled workers bail out to become self-employed—usually out of necessity, not opportunity. That fragments the industry, drains our collective expertise, and makes it even harder for employers to attract and retain good people.
2. Business owners are trapped.\ Most of the value in a tree business is tied up in equipment, not in goodwill. When owners want to retire or move on, they discover there’s no real exit path. Goodwill is worth little, buyers can’t access capital, and so years of effort are often liquidated for pennies on the dollar—or lost entirely.
3. The whole sector is weakened.\ Every time a business closes, the community loses more than jobs and machines. We lose mentorship, continuity, and the backbone that makes arboriculture more than just gig work with chainsaws.
A New Approach: Bitcoin + Succession Planning
My proposal is to tackle the value leak at both ends—employee and proprietor—using a combination of Bitcoin (as a savings and compensation tool) and practical succession mechanisms (like vendor financing and staged buyouts).
Why Bitcoin?
-
Scarcity and Security: Bitcoin has a fixed supply (21 million units), enforced by a decentralized proof-of-work system. No government or central bank can print more.
-
Long-term appreciation: Over the last 15 years, Bitcoin’s long-term returns have outpaced inflation and traditional savings, even accounting for volatility. It’s proven itself as a store of value, especially when held for 4+ years.
-
Permissionless and portable: Anyone can receive or hold Bitcoin, with as little as a smartphone.
This isn’t about “crypto” as a speculative bet—other digital assets don’t offer the same guarantees of decentralisation and scarcity. Bitcoin alone stands out for its security, openness, and resistance to manipulation.
Why Succession Planning?
Traditional business exits in arboriculture don’t work because the businesses need to be run by arborists with sufficient technical knowledge. Such buyers can’t raise the capital to pay for both assets and goodwill up front. Vendor financing (where the owner is paid out over time), and equipment leasing-to-own are much more realistic. When combined with Bitcoin as a reserve asset, they offer a way for both parties to share in potential upside—and for retiring owners to actually preserve some of the value they created.
How It Could Work
For Employees:
-
Businesses pay a small portion of wages (e.g., 10%) in Bitcoin, using the Lightning Network for instant, low-fee payments.
-
Employees accumulate savings that actually have a chance of outpacing inflation—potentially enough to buy into a business down the line or just build real financial security so they don't need to "go out on their own".
-
Education is critical: Workers need to understand Bitcoin’s value proposition and risks.
For Business Owners:
-
Instead of trying (and failing) to sell outright, owners structure a phased exit:
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Vendor finance: Successors buy goodwill over time, in manageable annual payments.
-
Lease-to-own: Equipment is leased with the intention of transfer after a set period.
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Bitcoin reserves: Sale proceeds are held either partly or fully in Bitcoin, giving owners a shot at capital appreciation during retirement. Basically allowing the owner to accept less knowing the value of the proceeds will compound over time.
-
Legal contracts and basic training in self-custody are a must.
For the Sector:
-
With more employees building wealth and seeing a path to ownership, fewer businesses will close or get broken up.
-
The talent pool stabilises; knowledge gets transferred; the “arboricultural pie” gets bigger for everyone.
Why Bitcoin? Why Not Just Use Dollars?
New Zealand dollars—and every other fiat currency—are losing purchasing power, year after year, due to policies that quietly tax away workers’ and savers’ value through inflation and deficit spending. Bitcoin, by design, is the exact opposite:
-
No central authority can change the rules.
-
Supply is capped and predictable.
-
Anyone can verify the ledger, anywhere in the world.
Other digital assets (Ethereum, Solana, etc.) might offer features, but they all sacrifice security or decentralisation for speed or flexibility. Bitcoin stands alone as a reliable, permissionless store of value. An important thing to remember is that dollars have decreased in value by over 99% relative to bitcoin since its inception.
Addressing the Obvious Questions
But isn’t Bitcoin volatile?\ Yes, in the short term. But over 4-year cycles, it’s proven to be remarkably resilient. Employees can convert their allocations back to NZD if they want, but holding over longer periods is where the value builds.
What about energy use?\ Bitcoin’s energy consumption is a rounding error globally (<0.1%), and is increasingly powered by renewables. It’s also a buyer of last resort for wasted energy, and can actually help stabilize grids and fund green energy buildout. Furthermore, the energy used is the proof-of-work, an essential characteristic of any truly hard money.
Is this even legal or practical in NZ?\ Yes. NZ classifies Bitcoin as property for tax purposes. Wages must be reported in NZD terms, but partial payment in Bitcoin is relatively straightforward with basic payroll adjustments. In general, tax laws surrounding Bitcoin are still fairly unreasonable but the tide is turning and things will only get easier as time moves forward.
Implementation: Getting Started
There are two clear parts to this framework: partial remuneration in Bitcoin for employees, and an improved business exit/succession strategy for owners. Importantly, these elements can be implemented independently—adopting one does not require adopting the other. Here’s how each part could work in practice:
1. Partial Remuneration in Bitcoin
Pilot, Educate, and Iterate
-
Start Small: Begin by offering a modest percentage of wages (e.g., 5–10%) in Bitcoin, using existing payroll systems and Lightning-enabled wallets. Participation should be optional, with clear communication about risks, potential rewards, and the ability for employees to convert their Bitcoin to NZD at any time.
-
Education First: Provide training for staff on how to securely hold Bitcoin, basic tax considerations (e.g., reporting in NZD), and the rationale for this benefit. Focus on Bitcoin’s unique properties (finite supply, resistance to inflation), not general “crypto” hype.
-
Choose the Right Tools: Use reputable exchanges and Lightning wallets to facilitate fast, low-cost payments. Many solutions exist that make sending Bitcoin as easy as sending a bank transfer.
-
Monitor and Review: Run a short-term pilot (3–6 months), gather employee feedback, and adjust the offering as needed. Document outcomes—savings rates, employee satisfaction, and any practical challenges.
2. Business Exit and Succession Planning
Structure, Secure, and Transition Value
-
Assess and Plan: Owners assess their business’s asset values (equipment, goodwill), and identify one or more potential successors from within the team. Seek professional advice to ensure fair valuations and sound contracts.
-
Vendor Finance Agreements: Structure agreements where successors pay for goodwill over several years (e.g., $10k per year over five years), allowing them to acquire ownership gradually without upfront capital.
-
Lease-to-Own for Equipment: Rather than selling machinery outright, lease equipment to successors with the intention of transferring ownership after a set period.
-
Bitcoin as Reserve Asset: Owners may choose to convert sale proceeds into Bitcoin, providing potential for long-term appreciation. Training in basic self-custody is essential to minimize risk.
-
Legal & Tax Considerations: Consult accountants and lawyers to ensure all arrangements are tax-compliant and legally robust. NZ law currently treats Bitcoin as property, so tax is only triggered when it’s sold back to NZD.
Independent or Combined Adoption
These two components are modular—either can be adopted without the other:
-
A business might start with Bitcoin remuneration as an employee benefit, with no immediate plans for succession.
-
Alternatively, a proprietor could structure a Bitcoin-enhanced exit plan with a trusted successor, regardless of current payroll arrangements.
Both approaches offer practical, incremental steps to preserving value within the industry. By documenting results and sharing lessons learned, early adopters can help establish best practices and de-risk adoption for others.
Final Thoughts
While this framework was developed with New Zealand arboriculture in mind, the challenge of value loss—through skill shortages, poor succession options, and business closures—is a universal one. The combination of Bitcoin-based savings and practical, staged succession strategies is not just for tree work. It can be adapted to any asset-heavy, skill-driven industry where the goal is to keep expertise, reward commitment, and allow owners to exit fairly.
What sets this approach apart is its focus on long-term resilience. By helping employees build lasting wealth and giving owners a real path to retirement or transition, we strengthen the entire sector—whatever that sector may be. The same blueprint can help electricians, builders, mechanics, and more.
If you see these problems in your field, consider piloting one or both parts of this model. Share what works and what doesn’t. We have a chance to redefine what it means to build, preserve, and transfer value—not just for ourselves, but for the next generation of workers and business owners across many industries.
Now is the time for experimentation, for honest reporting, and for collective learning. If we get it right, the benefits will ripple far beyond any single sector.
-
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@ 73d8a0c3:c1853717
2025-06-07 17:25:28
This is not the beginning of my story. The beginning was removed.
This is where I choose to begin restoring it.
I’ve lived with a condition—not undiagnosed, but redacted. It reshaped my body, cognition, and autonomic control in ways that defy current clinical language—not because they’re impossible, but because they’ve been excluded from what is allowed to be known.
What I believe now—after years of direct experience, careful observation, and failed explanations—is that I’ve lived through a biological adaptation. A slow, systemic response to a fungal invader. Not an infection in the acute sense, but a reprogramming of my physiology: pituitary signaling, electrolyte balance, behavior, and memory itself.
The systems meant to detect it—medical, scientific, and digital—did not fail. They looked away.
Whether by accident or design, this condition has been removed from collective understanding. But it’s real. It happened. And it is happening still.
This isn’t a call for sympathy or recognition. It’s a call to memory. Mine. Yours. Ours—before it’s erased again.
I’ll be documenting what I’ve lived. Not just symptoms and labs—but the theory that explains them, and the structures that buried them. Some of this will be messy. Some speculative. Some precise. All of it will be honest.
And if what I’m saying is true, then I am not the only one. Just one of the few who remembered long enough to write it down.
So I begin here, before the tracks run out.
Also available on Substack: [https://jimcraddock.substack.com/] Nostr: @jimcraddock@primal.net Pubkey: npub1w0v2psmnnsq23qpwum66hc8wxvxc083t6xpndmx28z3qtsv9xutsfjz2tf
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@ eb0157af:77ab6c55
2025-06-07 18:01:08
The adoption of Bitcoin as a corporate reserve asset is accelerating: public companies have doubled their holdings in just two months.
The use of Bitcoin as a corporate treasury strategy is reaching unprecedented levels. According to a recent report from Standard Chartered, shared with several industry outlets, 61 publicly traded companies collectively hold 3.2% of all bitcoin in circulation.
Geoff Kendrick, global head of digital asset research at Standard Chartered, revealed that these 61 public firms — out of a total of 124 — now own 673,897 BTC.
The report highlights that 58 of the 61 companies analyzed have net asset value (NAV) multiples above 1, indicating that their market valuations exceed the value of their net assets.
The Strategy copycats
A significant takeaway from the report is the speed at which companies are accumulating bitcoin. The 60 companies considered “Strategy copycats” have doubled their holdings in the past two months, from under 50,000 BTC to about 100,000 BTC. Over the same period, Strategy added 74,000 BTC, compared to the 47,000 acquired by the other firms.
This movement continues to expand as new companies announce Bitcoin purchase plans via debt issuance. On June 3, Canadian renewable energy developer SolarBank officially announced its Bitcoin treasury strategy, filing an application to open an account with Coinbase Prime to secure custody services, manage USDC, and set up a non-custodial wallet for its Bitcoin holdings.
Meanwhile, Paris-based Blockchain Group announced a $68 million Bitcoin acquisition, while Norwegian crypto brokerage K33 raised $6.2 million to purchase BTC at the end of May.
The post Bitcoin treasury: 61 publicly listed companies now hold over 3% of total supply appeared first on Atlas21.
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@ dfa02707:41ca50e3
2025-06-07 10:02:22
Contribute to keep No Bullshit Bitcoin news going.
- The latest firmware updates for COLDCARD devices introduce two major features: COLDCARD Co-sign (CCC) and Key Teleport between two COLDCARD Q devices using QR codes and/or NFC with a website.
What's new
- COLDCARD Co-Sign: When CCC is enabled, a second seed called the Spending Policy Key (Key C) is added to the device. This seed works with the device's Main Seed and one or more additional XPUBs (Backup Keys) to form 2-of-N multisig wallets.
- The spending policy functions like a hardware security module (HSM), enforcing rules such as magnitude and velocity limits, address whitelisting, and 2FA authentication to protect funds while maintaining flexibility and control, and is enforced each time the Spending Policy Key is used for signing.
- When spending conditions are met, the COLDCARD signs the partially signed bitcoin transaction (PSBT) with the Main Seed and Spending Policy Key for fund access. Once configured, the Spending Policy Key is required to view or change the policy, and violations are denied without explanation.
"You can override the spending policy at any time by signing with either a Backup Key and the Main Seed or two Backup Keys, depending on the number of keys (N) in the multisig."
-
A step-by-step guide for setting up CCC is available here.
-
Key Teleport for Q devices allows users to securely transfer sensitive data such as seed phrases (words, xprv), secure notes and passwords, and PSBTs for multisig. It uses QR codes or NFC, along with a helper website, to ensure reliable transmission, keeping your sensitive data protected throughout the process.
- For more technical details, see the protocol spec.
"After you sign a multisig PSBT, you have option to “Key Teleport” the PSBT file to any one of the other signers in the wallet. We already have a shared pubkey with them, so the process is simple and does not require any action on their part in advance. Plus, starting in this firmware release, COLDCARD can finalize multisig transactions, so the last signer can publish the signed transaction via PushTX (NFC tap) to get it on the blockchain directly."
- Multisig transactions are finalized when sufficiently signed. It streamlines the use of PushTX with multisig wallets.
- Signing artifacts re-export to various media. Users are now provided with the capability to export signing products, like transactions or PSBTs, to alternative media rather than the original source. For example, if a PSBT is received through a QR code, it can be signed and saved onto an SD card if needed.
- Multisig export files are signed now. Public keys are encoded as P2PKH address for all multisg signature exports. Learn more about it here.
- NFC export usability upgrade: NFC keeps exporting until CANCEL/X is pressed.
- Added Bitcoin Safe option to Export Wallet.
- 10% performance improvement in USB upload speed for large files.
- Q: Always choose the biggest possible display size for QR.
Fixes
- Do not allow change Main PIN to same value already used as Trick PIN, even if Trick PIN is hidden.
- Fix stuck progress bar under
Receiving...after a USB communications failure. - Showing derivation path in Address Explorer for root key (m) showed double slash (//).
- Can restore developer backup with custom password other than 12 words format.
- Virtual Disk auto mode ignores already signed PSBTs (with “-signed” in file name).
- Virtual Disk auto mode stuck on “Reading…” screen sometimes.
- Finalization of foreign inputs from partial signatures. Thanks Christian Uebber!
- Temporary seed from COLDCARD backup failed to load stored multisig wallets.
Destroy Seedalso removes all Trick PINs from SE2.Lock Down Seedrequires pressing confirm key (4) to execute.- Q only: Only BBQr is allowed to export Coldcard, Core, and pretty descriptor.
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@ 8bad92c3:ca714aa5
2025-06-07 14:01:13
Key Takeaways
Michael Goldstein, aka Bitstein, presents a sweeping philosophical and economic case for going “all in” on Bitcoin, arguing that unlike fiat, which distorts capital formation and fuels short-term thinking, Bitcoin fosters low time preference, meaningful saving, and long-term societal flourishing. At the heart of his thesis is “hodling for good”—a triple-layered idea encompassing permanence, purpose, and the pursuit of higher values like truth, beauty, and legacy. Drawing on thinkers like Aristotle, Hoppe, and Josef Pieper, Goldstein redefines leisure as contemplation, a vital practice in aligning capital with one’s deepest ideals. He urges Bitcoiners to think beyond mere wealth accumulation and consider how their sats can fund enduring institutions, art, and architecture that reflect a moral vision of the future.
Best Quotes
“Let BlackRock buy the houses, and you keep the sats.”
“We're not hodling just for the sake of hodling. There is a purpose to it.”
“Fiat money shortens your time horizon… you can never rest.”
“Savings precedes capital accumulation. You can’t build unless you’ve saved.”
“You're increasing the marginal value of everyone else’s Bitcoin.”
“True leisure is contemplation—the pursuit of the highest good.”
“What is Bitcoin for if not to make the conditions for magnificent acts of creation possible?”
“Bitcoin itself will last forever. Your stack might not. What will outlast your coins?”
“Only a whale can be magnificent.”
“The market will sell you all the crack you want. It’s up to you to demand beauty.”
Conclusion
This episode is a call to reimagine Bitcoin as more than a financial revolution—it’s a blueprint for civilizational renewal. Michael Goldstein reframes hodling as an act of moral stewardship, urging Bitcoiners to lower their time preference, build lasting institutions, and pursue truth, beauty, and legacy—not to escape the world, but to rebuild it on sound foundations.
Timestamps
00:00 - Intro
00:50 - Michael’s BBB presentation Hodl for Good
07:27 - Austrian principles on capital
15:40 - Fiat distorts the economic process
23:34 - Bitkey
24:29 - Hodl for Good triple entendre
29:52 - Bitcoin benefits everyone
39:05 - Unchained
40:14 - Leisure theory of value
52:15 - Heightening life
1:15:48 - Breaking from the chase makes room for magnificence
1:32:32 - Nakamoto Institute’s missionTranscript
(00:00) Fiat money is by its nature a disturbance. If money is being continually produced, especially at an uncertain rate, these uh policies are really just redistribution of wealth. Most are looking for number to go up post hyper bitcoinization. The rate of growth of bitcoin would be more reflective of the growth of the economy as a whole.
(00:23) Ultimately, capital requires knowledge because it requires knowing there is something that you can add to the structures of production to lengthen it in some way that will take time but allow you to have more in the future than you would today. Let Black Rockck buy the houses and you keep the sats, not the other way around.
(00:41) You wait until later for Larry Frink to try to sell you a [Music] mansion. And we're live just like that. Just like that. 3:30 on a Friday, Memorial Day weekend. It's a good good good way to end the week and start the holiday weekend. Yes, sir. Yes, sir. Thank you for having me here. Thank you for coming. I wore this hat specifically because I think it's I think it's very apppropo uh to the conversation we're going to have which is I hope an extension of the presentation you gave at Bitblock Boom Huddle for good. You were working on
(01:24) that for many weeks leading up to uh the conference and explaining how you were structuring it. I think it's a very important topic to discuss now as the Bitcoin price is hitting new all-time highs and people are trying to understand what am I doing with Bitcoin? Like you have you have the different sort of factions within Bitcoin.
(01:47) Uh get on a Bitcoin standard, get on zero, spend as much Bitcoin as possible. You have the sailors of the world are saying buy Bitcoin, never sell, die with your Bitcoin. And I think you do a really good job in that presentation. And I just think your understanding overall of Bitcoin is incredible to put everything into context. It's not either or.
(02:07) It really depends on what you want to accomplish. Yeah, it's definitely there there is no actual one-sizefits-all um for I mean nearly anything in this world. So um yeah, I mean first of all I mean there was it was the first conference talk I had given in maybe five years. I think the one prior to that uh was um bit block boom 2019 which was my meme talk which uh has uh become infamous and notorious.
(02:43) So uh there was also a lot of like high expectations uh you know rockstar dev uh has has treated that you know uh that that talk with a lot of reference. a lot of people have enjoyed it and he was expecting this one to be, you know, the greatest one ever, which is a little bit of a little bit of a uh a burden to live up to those kinds of standards.
(03:08) Um, but you know, because I don't give a lot of talks. Um, you know, I I I like to uh try to bring ideas that might even be ideas that are common. So, something like hodling, we all talk about it constantly. uh but try to bring it from a little bit of a different angle and try to give um a little bit of uh new light to it.
(03:31) I alsove I've I've always enjoyed kind of coming at things from a third angle. Um whenever there's, you know, there's there's all these little debates that we have in in Bitcoin and sometimes it's nice to try to uh step out of it and look at it a little more uh kind of objectively and find ways of understanding it that incorporate the truths of of all of them.
(03:58) uh you know cuz I think we should always be kind of as much as possible after ultimate truth. Um so with this one um yeah I was kind of finding that that sort of golden mean. So uh um yeah and I actually I think about that a lot is uh you know Aristotle has his his concept of the golden mean. So it's like any any virtue is sort of between two vices um because you can you can always you can always take something too far.
(04:27) So you're you're always trying to find that right balance. Um so someone who is uh courageous you know uh one of the vices uh on one side is being basically reckless. I I can't remember what word he would use. Uh but effectively being reckless and just wanting to put yourself in danger for no other reason than just you know the thrill of it.
(04:50) Um and then on the other side you would just have cowardice which is like you're unwilling to put yourself um at any risk at any time. Um, and courage is right there in the middle where it's understanding when is the right time uh to put your put yourself, you know, in in the face of danger um and take it on. And so um in some sense this this was kind of me uh in in some ways like I'm obviously a partisan of hodling.
(05:20) Um, I've for, you know, a long time now talked about the, um, why huddling is good, why people do it, why we should expect it. Um, but still trying to find that that sort of golden mean of like yes, huddle, but also what are we hodling for? And it's not we're we're not hodddling just merely for the sake of hodddling.
(05:45) There there is a a purpose to it. And we should think about that. And that would also help us think more about um what are the benefits of of spending, when should we spend, why should we spend, what should we spend on um to actually give light to that sort of side of the debate. Um so that was that was what I was kind of trying to trying to get into.
(06:09) Um, as well as also just uh at the same time despite all the talk of hodling, there's always this perennial uh there's always this perennial dislike of hodlers because we're treated as uh as if um we're just free riding the network or we're just greedy or you know any of these things. And I wanted to show how uh huddling does serve a real economic purpose.
(06:36) Um, and it does benefit the individual, but it also does uh it it has actual real social um benefits as well beyond merely the individual. Um, so I wanted to give that sort of defense of hodling as well to look at it from um a a broader position than just merely I'm trying to get rich. Um uh because even the person who uh that is all they want to do um just like you know your your pure number grow up go up moonboy even that behavior has positive ramifications on on the economy.
(07:14) And while we might look at them and have uh judgments about their particular choices for them as an individual, we shouldn't discount that uh their actions are having positive positive effects for the rest of the economy. Yeah. So, let's dive into that just not even in the context of Bitcoin because I think you did a great job of this in the presentation.
(07:36) just you've done a good job of this consistently throughout the years that I've known you. Just from like a first principles Austrian economics perspective, what is the idea around capital accumulation, low time preference and deployment of that capital like what what like getting getting into like the nitty-gritty and then applying it to Bitcoin? Yeah, it's it's a big question and um in many ways I mean I I even I barely scratched the surface.
(08:05) uh I I can't claim to have read uh all the volumes of Bombber works, you know, capital and interest and and stuff like that. Um but I think there's some some sort of basic concepts that we can look at that we can uh draw a lot out. Um the first uh I guess let's write that. So repeat so like capital time preference. Yeah. Well, I guess getting more broad like why sav -
@ 9ca447d2:fbf5a36d
2025-06-07 14:01:00
Trump Media & Technology Group (TMTG), the company behind Truth Social and other Trump-branded digital platforms, is planning to raise $2.5 billion to build one of the largest bitcoin treasuries among public companies.
The deal involves the sale of approximately $1.5 billion in common stock and $1.0 billion in convertible senior secured notes.
According to the company, the offering is expected to close by the end of May, pending standard closing conditions.
Devin Nunes, CEO of Trump Media, said the investment in bitcoin is a big part of the company’s long-term plan.
“We view Bitcoin as an apex instrument of financial freedom,” Nunes said.
“This investment will help defend our Company against harassment and discrimination by financial institutions, which plague many Americans and U.S. firms.”
He added that the bitcoin treasury will be used to create new synergies across the company’s platforms including Truth Social, Truth+, and the upcoming financial tech brand Truth.Fi.
“It’s a big step forward in the company’s plans to evolve into a holding company by acquiring additional profit-generating, crown jewel assets consistent with America First principles,” Nunes said.
The $2.5 billion raise will come from about 50 institutional investors. The $1 billion in convertible notes will have 0% interest and be convertible into shares at a 35% premium.
TMTG’s current liquid assets, including cash and short-term investments, are $759 million as of the end of the first quarter of 2025. With this new funding, the company’s liquid assets will be over $3 billion.
Custody of the bitcoin treasury will be handled by Crypto.com and Anchorage Digital. They will manage and store the digital assets.
Earlier this week The Financial Times reported Trump Media was planning to raise $3 billion for digital assets acquisitions.
The article said the funds would be used to buy bitcoin and other digital assets, and an announcement could come before a major related event in Las Vegas.
Related: Bitcoin 2025 Conference Kicks off in Las Vegas Today
Trump Media denied the FT report. In a statement, the company said, “Apparently the Financial Times has dumb writers listening to even dumber sources.”
There was no further comment. However, the official $2.5 billion figure, which was announced shortly after by Trump Media through a press release, aligns with its actual filing and investor communication.
Trump Media’s official announcement
This comes at a time when the Trump family and political allies are showing renewed interest in Bitcoin.
President Donald Trump who is now back in office since the 2025 election, has said he wants to make the U.S. the “crypto capital of the world.”
Trump Media is also working on retail bitcoin investment products including ETFs aligned with America First policies.
These products will make bitcoin more accessible to retail investors and support pro-Trump financial initiatives.
But not everyone is happy.
Democratic Senator Elizabeth Warren recently expressed concerns about Trump Media’s Bitcoin plans. She asked U.S. regulators to clarify their oversight of digital-asset ETFs, warning of investor risk.
Industry insiders are comparing Trump Media’s plans to Strategy (MSTR) which has built a multi-billion dollar bitcoin treasury over the last year. They used stock and bond sales to fund their bitcoin purchases.
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@ dfa02707:41ca50e3
2025-06-08 04:01:55
Contribute to keep No Bullshit Bitcoin news going.
- "Today we're launching the beta version of our multiplatform Nostr browser! Think Google Chrome but for Nostr apps. The beta is our big first step toward this vision," announced Damus.
- This version comes with the Dave Nostr AI assistant, support for zaps and the Nostr Wallet Connect (NWC) wallet interface, full-text note search, GIFs and fullscreen images, multiple media uploads, user tagging, relay list and mute list support, along with a number of other improvements."
"Included in the beta is the Dave, the Nostr AI assistant (its Grok for Nostr). Dave is a new Notedeck browser app that can search and summarize notes from the network. For a full breakdown of everything new, check out our beta launch video."
What's new
- Dave Nostr AI assistant app.
- GIFs.
- Fulltext note search.
- Add full screen images, add zoom, and pan.
- Zaps! NWC/ Wallet UI.
- Introduce last note per pubkey feed (experimental).
- Allow multiple media uploads per selection.
- Major Android improvements (still WIP).
- Added notedeck app sidebar.
- User Tagging.
- Note truncation.
- Local network note broadcast, broadcast notes to other notedeck notes while you're offline.
- Mute list support (reading).
- Relay list support.
- Ctrl-enter to send notes.
- Added relay indexing (relay columns soon).
- Click hashtags to open hashtag timeline.
- Fixed timelines sometimes not updating (stale feeds).
- Fixed UI bounciness when loading profile pictures
- Fixed unselectable post replies.
-
@ dfa02707:41ca50e3
2025-06-07 10:02:20
Contribute to keep No Bullshit Bitcoin news going.
- RoboSats v0.7.7-alpha is now available!
NOTE: "This version of clients is not compatible with older versions of coordinators. Coordinators must upgrade first, make sure you don't upgrade your client while this is marked as pre-release."
- This version brings a new and improved coordinators view with reviews signed both by the robot and the coordinator, adds market price sources in coordinator profiles, shows a correct warning for canceling non-taken orders after a payment attempt, adds Uzbek sum currency, and includes package library updates for coordinators.
Source: RoboSats.
- siggy47 is writing daily RoboSats activity reviews on stacker.news. Check them out here.
- Stay up-to-date with RoboSats on Nostr.
What's new
- New coordinators view (see the picture above).
- Available coordinator reviews signed by both the robot and the coordinator.
- Coordinators now display market price sources in their profiles.
Source: RoboSats.
- Fix for wrong message on cancel button when taking an order. Users are now warned if they try to cancel a non taken order after a payment attempt.
- Uzbek sum currency now available.
- For coordinators: library updates.
- Add docker frontend (#1861).
- Add order review token (#1869).
- Add UZS migration (#1875).
- Fixed tests review (#1878).
- Nostr pubkey for Robot (#1887).
New contributors
Full Changelog: v0.7.6-alpha...v0.7.7-alpha
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@ 7f6db517:a4931eda
2025-06-07 17:01:29
The former seems to have found solid product market fit. Expect significant volume, adoption, and usage going forward.
The latter's future remains to be seen. Dependence on Tor, which has had massive reliability issues, and lack of strong privacy guarantees put it at risk.
— ODELL (@ODELL) October 27, 2022
The Basics
- Lightning is a protocol that enables cheap and fast native bitcoin transactions.
- At the core of the protocol is the ability for bitcoin users to create a payment channel with another user.
- These payment channels enable users to make many bitcoin transactions between each other with only two on-chain bitcoin transactions: the channel open transaction and the channel close transaction.
- Essentially lightning is a protocol for interoperable batched bitcoin transactions.
- It is expected that on chain bitcoin transaction fees will increase with adoption and the ability to easily batch transactions will save users significant money.
- As these lightning transactions are processed, liquidity flows from one side of a channel to the other side, on chain transactions are signed by both parties but not broadcasted to update this balance.
- Lightning is designed to be trust minimized, either party in a payment channel can close the channel at any time and their bitcoin will be settled on chain without trusting the other party.
There is no 'Lightning Network'
- Many people refer to the aggregate of all lightning channels as 'The Lightning Network' but this is a false premise.
- There are many lightning channels between many different users and funds can flow across interconnected channels as long as there is a route through peers.
- If a lightning transaction requires multiple hops it will flow through multiple interconnected channels, adjusting the balance of all channels along the route, and paying lightning transaction fees that are set by each node on the route.
Example: You have a channel with Bob. Bob has a channel with Charlie. You can pay Charlie through your channel with Bob and Bob's channel with User C.
- As a result, it is not guaranteed that every lightning user can pay every other lightning user, they must have a route of interconnected channels between sender and receiver.
Lightning in Practice
- Lightning has already found product market fit and usage as an interconnected payment protocol between large professional custodians.
- They are able to easily manage channels and liquidity between each other without trust using this interoperable protocol.
- Lightning payments between large custodians are fast and easy. End users do not have to run their own node or manage their channels and liquidity. These payments rarely fail due to professional management of custodial nodes.
- The tradeoff is one inherent to custodians and other trusted third parties. Custodial wallets can steal funds and compromise user privacy.
Sovereign Lightning
- Trusted third parties are security holes.
- Users must run their own node and manage their own channels in order to use lightning without trusting a third party. This remains the single largest friction point for sovereign lightning usage: the mental burden of actively running a lightning node and associated liquidity management.
- Bitcoin development prioritizes node accessibility so cost to self host your own node is low but if a node is run at home or office, Tor or a VPN is recommended to mask your IP address: otherwise it is visible to the entire network and represents a privacy risk.
- This privacy risk is heightened due to the potential for certain governments to go after sovereign lightning users and compel them to shutdown their nodes. If their IP Address is exposed they are easier to target.
- Fortunately the tools to run and manage nodes continue to get easier but it is important to understand that this will always be a friction point when compared to custodial services.
The Potential Fracture of Lightning
- Any lightning user can choose which users are allowed to open channels with them.
- One potential is that professional custodians only peer with other professional custodians.
- We already see nodes like those run by CashApp only have channels open with other regulated counterparties. This could be due to performance goals, liability reduction, or regulatory pressure.
- Fortunately some of their peers are connected to non-regulated parties so payments to and from sovereign lightning users are still successfully processed by CashApp but this may not always be the case going forward.
Summary
- Many people refer to the aggregate of all lightning channels as 'The Lightning Network' but this is a false premise. There is no singular 'Lightning Network' but rather many payment channels between distinct peers, some connected with each other and some not.
- Lightning as an interoperable payment protocol between professional custodians seems to have found solid product market fit. Expect significant volume, adoption, and usage going forward.
- Lightning as a robust sovereign payment protocol has yet to be battle tested. Heavy reliance on Tor, which has had massive reliability issues, the friction of active liquidity management, significant on chain fee burden for small amounts, interactivity constraints on mobile, and lack of strong privacy guarantees put it at risk.
If you have never used lightning before, use this guide to get started on your phone.
If you found this post helpful support my work with bitcoin.
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@ 2cde0e02:180a96b9
2025-06-07 16:16:39
桜の姫
https://stacker.news/items/999877
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@ eb0157af:77ab6c55
2025-06-07 17:01:08
A new step for the American bank in the digital asset space: Bitcoin ETFs cleared for use as collateral for financing.
JPMorgan Chase will allow clients to use spot Bitcoin ETFs as collateral to obtain loans. According to sources close to the project, cited by Bloomberg, the initiative will launch in the coming weeks and will involve trading and wealth management clients on a global scale.
The bank has decided to begin this new phase starting with crypto ETFs, beginning with the BlackRock iShares Bitcoin Trust (IBIT), which has already surpassed $70 billion in assets under management (AUM). The decision is part of a broader strategy aimed at enabling selected clients to access financing by using cryptocurrency-related assets as collateral. Before this change, JPMorgan only accepted crypto ETFs as loan collateral under specific conditions.
The American bank’s new approach will see Bitcoin ETFs treated like other traditional assets when calculating a client’s borrowing capacity. Just as is currently the case with stocks, cars, or works of art, crypto ETFs will become an integral part of standard wealth evaluations.
Although CEO Jamie Dimon has historically been known for his skeptical stance on Bitcoin, the bank announced last month that it would soon allow clients to purchase spot ETFs on the leading cryptocurrency — although without offering custody services.
The new rules will apply to all of JPMorgan’s wealth management clients worldwide, from retail customers to high-net-worth individuals. The bank will also integrate crypto holdings into the net worth assessments of clients managed by its wealth management division.
The post JPMorgan Chase: Bitcoin ETFs accepted as loan collateral appeared first on Atlas21.
-
@ dfa02707:41ca50e3
2025-06-07 10:02:19
Contribute to keep No Bullshit Bitcoin news going.
-
Version 1.3 of Bitcoin Safe introduces a redesigned interactive chart, quick receive feature, updated icons, a mempool preview window, support for Child Pays For Parent (CPFP) and testnet4, preconfigured testnet demo wallets, as well as various bug fixes and improvements.
-
Upcoming updates for Bitcoin Safe include Compact Block Filters.
"Compact Block Filters increase the network privacy dramatically, since you're not asking an electrum server to give you your transactions. They are a little slower than electrum servers. For a savings wallet like Bitcoin Safe this should be OK," writes the project's developer Andreas Griffin.
- Learn more about the current and upcoming features of Bitcoin Safe wallet here.
What's new in v1.3
- Redesign of Chart, Quick Receive, Icons, and Mempool Preview (by @design-rrr).
- Interactive chart. Clicking on it now jumps to transaction, and selected transactions are now highlighted.
- Speed up transactions with Child Pays For Parent (CPFP).
- BDK 1.2 (upgraded from 0.32).
- Testnet4 support.
- Preconfigured Testnet demo wallets.
- Cluster unconfirmed transactions so that parents/children are next to each other.
- Customizable columns for all tables (optional view: Txid, Address index, and more)
- Bug fixes and other improvements.
Announcement / Archive
Blog Post / Archive
GitHub Repo
Website -
-
@ eac63075:b4988b48
2025-06-07 15:14:03
Ever imagined sending a Bitcoin transaction without an internet connection? Or talking to your friends during a total blackout when the cell network just vanishes? It sounds like science fiction, but this technology is an accessible reality, built with low-cost hardware and open-source software. Welcome to the world of mesh networks, Meshtastic, and the BTC Mesh project.
This guide explores the universe of decentralized communication networks, showing how they work, why they are vital for our digital sovereignty, and how you can use them to strengthen your privacy and resilience—not just in communication, but in your Bitcoin transactions as well.
https://fountain.fm/episode/nr8qWgi7XNoBbDkc8GZj
https://open.spotify.com/episode/6vKW7Lhi3uOUhlRogAtgej
What Are Mesh Networks and Why Should You Care?
Our connected world runs on a fragile, centralized infrastructure. Cell towers, internet providers, data centers—if one of these points fails, communication stops. A mesh network turns this logic on its head.
Here, each participant (or "node") connects directly to other nodes within its reach, forming a web of P2P (peer-to-peer) connections. Instead of data passing through a central server, it hops from node to node until it reaches its destination. The true strength of this approach is decentralization and resilience. If a node goes down, the others simply find a new path for the information. The network reconfigures and heals itself.
Source: meshtastic.orgLoRa and Meshtastic: The Dynamic Duo
To create these networks in the real world, the enthusiast community has rallied around a powerful duo:
- LoRa (Long Range): Think of LoRa as the physical layer—the "radio waves" of our network. It's a technology that allows for long-range wireless communication with incredibly low power consumption. We're talking about cheap little radios that can send small data packets for miles, running for days on a single battery.
- Meshtastic: If LoRa is the physical medium, Meshtastic is the brain. It's open-source software that equips these radios to form a smart, easy-to-use mesh network. Meshtastic handles everything: discovering other nodes, managing routes, encrypting messages, and providing an interface on your phone, connected via Bluetooth.
Meshtastic was originally created as an off-grid communicator, but its usefulness goes far beyond that. Here, privacy is a fundamental pillar. To join a group channel, you need the encryption key. Direct messages are end-to-end encrypted. It's like having a "hardware wallet" for your communication: your private key is secure on your radio, ensuring that only you and the recipient can read the messages.
While Meshtastic is the most popular, alternatives like MeshCore exist, which aim to optimize packet routing. However, the network effect is powerful, and the vast majority of users today are on the Meshtastic platform.
Introducing BTC Mesh: Bitcoin Transactions Via Radio
This is where Bitcoin enters the picture. The inspiration for the BTC Mesh project came from a mix of necessity and chance. After buying a LoRa radio on AliExpress that, to my frustration, couldn't transmit over long distances—and the seller simply stopped responding—I discovered it worked perfectly within my apartment. With two radios in hand, one for the base and another "defective" one, I had the perfect test environment for a new use case: sending Bitcoin transactions over the mesh network.
GitHub - eddieoz/btcmesh: BTC Mesh Relay is designed to send Bitcoin payments via LoRa Meshtastic.
BTC Mesh is a simple application that allows anyone on a Meshtastic network to send a Bitcoin transaction (on-chain, layer 1) over the radio network, without needing a direct internet connection.
How the Magic Works
The system has two parts: a client and a server.
- The Server: Someone on the network with internet access runs the "server node." This is a computer (a Raspberry Pi can handle it) connected to a LoRa radio and a full Bitcoin node (Bitcoin Core). It acts as the bridge between the off-grid mesh world and the global Bitcoin network.
- The Client: Anyone else on the network, even miles away and without internet, can use the "client" on their laptop or phone.
The process is a choreographed dance designed for the low-speed LoRa network:
- Preparing the Transaction: In a wallet like Sparrow, you create and sign your transaction. Instead of clicking "Broadcast," you copy the "Raw Transaction"—a long hexadecimal text.
- Sending Over the Mesh: In the terminal, you run a simple command, pointing to the server's radio and pasting your raw transaction.
- The Communication: Since the transaction is too large for a single LoRa packet, the client splits it into chunks and starts a conversation with the server:
- Client: "Hey server! I have a transaction in 15 parts. Can we start?"
- Server: "Roger that! Awaiting 15 parts. Send the first one."
- Client: (sends part 1)
- Server: "Part 1 received. Send part 2."
- This "handshake" continues until all parts are confirmed, ensuring the transaction arrives complete.
- Validation and Broadcast: Upon receiving everything, the server reconstructs the transaction, validates it, and hands it off to its local Bitcoin node, which finally broadcasts it to the worldwide network.
And that's it! Your transaction is sent to the blockchain, broadcast from a radio, without your IP address ever being exposed.
Maximum Privacy and Sovereignty
BTC Mesh's power lies in its layers of privacy:
- No IP Trail: Since the transaction is sent via radio, there is no record of your IP address. To the Bitcoin network, the transaction simply originated from the server node.
- End-to-End Encryption: The communication between the radios is encrypted by Meshtastic. No one in between can see the content of your transaction.
- Extra Layer with Tor: For maximum privacy, the server node can connect to the internet through the Tor network. This way, not even the server's IP is exposed in the final broadcast.
This combination creates a powerful system for censorship-resistant Bitcoin transactions with high privacy.
Building Your Kit: The Hardware
Excited to build your own station? The hardware is cheap and accessible.
- Frequency is Key: First, know the legal LoRa frequency in your country. In Brazil, use 915 MHz. In Europe, 868 MHz. Buying the wrong frequency will render your radio useless.
- Popular Brands:
- Heltec: Very popular, with boards like the T114, V3, and the Wireless Bridge, which comes with a practical design and an e-ink screen.
- RAK Wireless: Considered more "professional." The RAK4631 model (which I use for my base) is excellent, and the WisBlock line is modular, requiring no soldering.
- LilyGo: Famous in the "maker" community. Offers boards like the T-Beam (with GPS), T-Echo (small and practical), and the T-Deck (a full communicator with a keyboard).
- Seeed Studio (SenseCAP): Offers robust devices like the T1000-e (waterproof) and the XIAO ESP32S3 (tiny, perfect for compact projects).
- Antennas: Don't underestimate the antenna! And a crucial warning: never, ever, turn on your radio without an antenna connected, or you could burn out the transmitter.
- 3 dBi: A more "rounded" signal (a sphere), great for short distances with vertical obstacles.
- 10 dBi: A "flatter," more directional signal (a frisbee), for long distances with a clear line of sight.
- Power: Many boards have connectors for batteries and small solar panels, allowing you to create autonomous nodes.
Limitations and Considerations
Despite its power, LoRa technology has its limits:
- Low Bandwidth: The network is slow. Think 140-character Twitter. It's perfect for messages, but forget about web browsing.
- Regulation: Many regions limit the amount of data a radio can transmit per hour ("duty cycle"). Meshtastic respects these limits, which reinforces the need for optimized applications.
- Need for a Bridge: For a transaction to reach the global network, one node on the mesh needs internet. The network can be fully off-grid for internal communication, but the bridge to the outside world is necessary for certain applications. MQTT servers can play this role, connecting distant mesh networks over the internet.
Use Cases: Beyond Bitcoin
- Disaster Communication: Projects like Disaster.Radio focus on using LoRa to coordinate rescue teams during catastrophes.
- Outdoor Activities: Essential for hiking and camping in remote locations.
- Internet of Things (IoT): In agriculture, sensors can cover vast areas. On farms, they can monitor livestock.
- Private Communication: In a world of surveillance, having a communication channel that you control is an act of sovereignty.
The Future is Decentralized
Projects like BTC Mesh offer a glimpse into a more resilient, private, and decentralized future. They give us the tools to build our own communication and financial networks, free from centralized control.
The technology is cheap, the software is free, and the community is vibrant. Building your first node might seem intimidating, but it's a rewarding project and a practical step toward personal sovereignty.
So, are you ready to get off the grid?
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@ bf47c19e:c3d2573b
2025-06-07 16:57:08
Autor: mr Vladimir Dinić (student doktorskih studija; vladimirdinic88@gmail.com)
Rezime
Bikojn je prva decentralizovana „peer-to-peer“ kriptovaluta nastala 2009. godine. Osnovna specifičnost ove valute jeste činjenica da njen emitent ne postoji. Sa druge strane, ponuda ove valute je softverski programirana i ograničena. Između ostalog, njene osnovne karakteristike su i relativno sigurna plaćanja, niski transakcioni troškovi, anonimnost korisnika, praktično nemoguće falsifikovanje, nereverzibilnost transakcija, ali i izuzetno nestabilan devizni kurs. I pored brojnih prednosti, korišćenje ove valute je predmet brojnih diskusija, budući da ova valuta nudi mogućnost različitih zloupotreba i obavljanja kriminalnih aktivnosti. Budućnost ove i sličnih valuta u tom smislu zavisi kako od sigurnosti korišćenja tih valuta, tako i od zakonske regulacije ovakvih plaćanja.
Uvod
Razvoj informacione tehnologije, kao jedne od najpropulzivnijih privrednih grana današnjice, doveo je do pojave novih oblika alternativnih valuta. Njihove osnovne karakteristike su decentralizovanost, odnosno nepostojanje centralne banke, države, opštine, kompanije ili bilo koje druge centralne institucije koja bi vršila emisiju te valute, kao i stoprocentno oslanjanje na informacionu tehnologiju u procesu njihove emisije i realizacije transakcija.
Predmet istraživanja ovog rada biće bitkojn, decentralizovana valuta nastala pre 4 godine koja među ostalim alternativnim valutama trenutno zauzima najznačajnije mesto i privlači najviše pažnje. Putem analize dostupne akademske literature, statističkih podataka i ostalih relevantnih izvora pokušaćemo da izdvojimo osnovne karakteristike bitkojn valute, prednosti, nedostatke, efekte i perspektive njegovog korišćenja kao oblika decentralizovane kriptovalute. Budući da je broj radova u kojima su opisane karakteristike i efekti korišćenja bitkojn valute relativno mali, cilj ovog rada će biti da na sveobuhvatan način prezentuje osnovne specifičnosti bitkojn valute i kontroverze povezane s njenim korišćenjem.
Struktura rada je sledeća. Prvo će biti opisane osnovne karakterisike bitkojn valute i način na koji se realizuju transakcije u ovoj valuti. Zatim će biti opisan sam proces, tok i efekti njene emisije, kao i formiranje i kretanje deviznog kursa bitkojna, a zatim će biti izdvojene osnovne prednosti i nedostaci bitkojn valute. U nastavku rada će biti opisana uloga finansijskih institucija koje posluju sa bitkojnima, kao i problemi funkcionisanja bitkojna, gde pre svega imamo u vidu različite zloupotrebe i ostale izvore nestabilnosti. Na samom kraju rada će biti prezentovani regulatorni aspekti korišćenje ove valute.
Karakteristike bitkojn valute
Bitkojn (engl. “Bitcoin” - BTC) predstavlja oblik elektronskog novca koji omogućuje plaćanja putem Interneta direktno između transaktora bez učešća finansijskih institucija. Ova valuta je nastala 2009. godine. Ono po čemu je bitkojn valuta specifična jeste činjenica da je u pitanju decentralizovana valuta, tj. ona funkcioniše bez centralne banke ili druge kompanije koja bi predstavljala emitenta. Takođe, praktično i ne postoje čak ni klasične banke i druge finansijske institucije kao finansijski posrednici. Stoga, da bi se osigurala sigurnost plaćanja i onemogućile različite zloupotrebe, koristi se sama mreža kao sistem koji će kontrolisati regularnost transakcija.
Kao osnovne karakteristike ove virtuelne valute možemo izdvojiti sledeće:
• U pitanju je P2P valuta (engl. „peer-to-peer“). Drugim rečima, za razliku od svih ostalih virtuelnih valuta, BTC je zasnovan na P2P mrežama. Inače, “Peer-to-peer” predstavlja mrežu računara koji nisu zasnovani na „klijent-server“ tehnologiji, već su svi računari ravnopravni članovi mreže. Obično se koristi za deljenje informacija na taj način što kada jedan računar “podeli” neki sadržaj, svi ostali računari u mreži će imati pristup tom fajlu.
• Takođe, to je prva “kriptovana valuta” ili „kriptovaluta“ (engl. “crypto-currency”), tj. zasnovana je na primeni kriptografije sa ciljem kontrole emisije i prometa konkretnog elektronskog novca (Bitcoin.org/en/ about n.d.). Drugim rečima, poverenje u ovu valutu se bazira na sigurnosti koju obezbeđuje kriptografija kao nauka koja se bavi metodama zaštita informacija putem šifrovanja i korišćenjem digitalnog potpisa (Sh.wikipedia.org/wiki/Kriptografija n.d.).
• Emitent ove valute nije ni centralna banka ni neka kompanija, već sami korisnici, tj. vlasnici “mining” računara (engl. “mining” - “rudarenje”). To praktično znači da na emisiju i promet ove valute ne utiče nijedna centralna banka, odnosno centralni entitet od čije monetarne politike ili bilo čega vezanog za njega može zavisiti vrednost valute. Poverenje u bitkojn zavisi od „poštenog“ funkcionisanja većine tzv. “mining” računara u mreži (Barber i saradnici 2012, p.400), a koji su inače zaduženi za verifikaciju transakcija. Logički zaključak koji proističe iz ove činjenice ukazuje na to da se sa rastom obima transakcija u BTC valuti može očekivati veća sigurnost, jer što je veći obim transakcija u bitkojn valuti, praktično će biti teže vršiti zloupotrebe.
• - U pitanju je “open-source” valuta, budući da je kod koji upravlja emisijom i transakcijama otvorenog karaktera, i svi zainteresovani mogu imati pristup.
• U bitkojn sistemu plaćanja praktično ne postoje računi nalik onima koji postoje u bankama. BTC valuta bi mogla biti shvaćena kao sef u kome se nalazi određena vrednost. Ono što formalni vlasnici određene količine BTC valute praktično poseduju jeste ključ koji im omogućuje jedinstven i ovlašćen pristup tom sefu, odnosno plaćanje.
Navedene osnovne karakteristike bitkojna mogu se ilustrovati kroz sledeću rečenicu: „Temelj bitkojn filozofije je u kombinaciji kriptografske sigurnosti digitalnog sveta koju čini veliki broj računara povezanih u jaku i neuništivu peer to peer mrežu i ograničenoj količini raspoloživih resursa kao što je to slučaj sa srebrom i zlatom (maksimalan broj bitkojn novčića je 21 milion, trenutno u opticaju je oko 11,5 miliona (prim. aut.)) čineći tako jaku i stabilnu takozvanu kriptovalutu koja se nalazi na Internet mreži ali fizički nije prisutna ni u jednoj zemlji na svetu“ (Bitcoinbalkan.com 2012).
Šema transakcije u bitkojn valuti
Bitkojn valuta može biti kreirana na Internetu od strane bilo koga, tj. od bilo kog člana mreže čiji računar vršu verifikaciju transakcija. Pritom, svaki računar u mreži može predstavljati tzv. “node”, tj. „mining“ računar koji zajedno sa ostalim računarima učestvuje u verifikaciji iniciranih transakcija. Sam proces verifikacije transakcija predstavlja dodavanje digitalnog zapisa u tzv. “glavnu knjigu” izvršenih bitkojn transakcija, odnosno u “lančani zapis blokova transakcija” (En.bitcoin. it n.d.). Pod blokom transakcija se podrazumeva skup nedavno generisanih transakcija koje čekaju verifikaciju od strane ostalih računara u mreži. Inače, sam bitkojn se može smatrati lancem digitalnih potpisa. Naime, svaka transakcija se verifikuje od strane određenog broja ostalih računara u mreži, pri čemu se sve te transakcije u digitalnom zapisu čuvaju u samom elektronskom formatu koji reprezentuje bitkojn valutu.
Ovaj proces verifikacije transakcija se u tom smislu obavlja od strane većeg broja računara u mreži, kako bi se obezbedila veća sigurnost i regularnost verifikovanih transakcija. Dodatnu sigurnost pruža “vremenski pečat” (engl. “timestamp”) kao integralni deo svakog lanca digitalnih potpisa (Nakamoto n.d., p.2), čime se obezbeđuje autentičnost transakcija, odnosno sprečava mogućnost višestrukog korišćenja jedne iste količine bitkojna za kupovinu različitih dobara i usluga. Takođe, svaki blok sa sobom nosi i određeni matematički problem koji računar mora da reši. Svaki od tih zadataka je moguće rešiti na više načina, a dovoljno je pronaći jedan kako bi transakcija bila realizovana. Za svaki uspešno rešeni zadatak generiše se određen broj bitkojna kao nagrada za vlasnike računara koji su „rešili zadatak“. Ovo je istovremeno i način na koji bitkojn privlači nove korisnike. Nakon prijema bitkojna po osnovu određene transakcije, potrebno je da protekne određeni vremenski period od 10 minuta do 1h, da bi primalac mogao da koristi taj novac. Kao razlog ovog čekanja navodi se činjenica da je potreban određeni vremenski period za pronalaženje bloka transakcija koji će se verifikovati (En.bitcoin.it n.d.). Inače, bitkojn novac nastaje u računarskom programu koji se zove “Bitkojn rudar” (engl. “Bitcoin miner”).
Kao što Šema 1 pokazuje, svaka transakcija između dva računara u mreži zahteva verifikaciju ove transakcije od strane određenog broja računara u mreži. Nakon uspešno verifikovane transakcije dolazi do proširenja lanca digitalnih zapisa koji predstavljaju bitkojn. Oni “mining” računari koji vrše tzv. “hashing” i verifikaciju transakcija dobijaju, tj. generišu određen broj BTC kao nadoknadu za tu svoju ulogu i koji mogu koristiti po svom nahođenju. U tom smislu, trošenje električne energije i rad “mining” računara, uslovno rečeno, predstavlja realno pokriće za emitovani bitkojn. Pritom se u velikoj meri zanemaruje činjenica da vrednost utrošene električne energije i hardverskih resursa može prevazilaziti vrednost generisanih BTC valuta, pa se može postaviti pitanje ekonomske isplativosti, tj. održivosti takve valute. Kao jedan od faktora koji opravdava ove troškove može se navesti anonimnost koju korišćenje ove valute pruža. Međutim, danas se na tržištu mogu pronaći uređaji koji višestruko povećavaju kapacitet “mining” računara, tako da se “rudarenje” BTC valute može smatrati profitabilnim. Primera radi, sredstva investirana u kupovinu “GPU” (grafičkih kartica) ili “ASIC Bitcoin Miner” uređaja koji se koriste u te svrhe se mogu povratiti u roku od nekoliko meseci (Barber i saradnici 2012, p.400).
Faktor koji određuje verovatnoću da će “mining” računar pronaći blok transakcija koje treba verifikovati poznat je kao “difficulty” faktor. On u suštini predstavlja meru težine pronalaženja tog bloka (En.bitcoin.it n.d.). U slučajevima kada je relativno veliki broj računara na mreži spreman da vrši verifikaciju, ovaj faktor se povećava, i obrnuto. Uloga ovog faktora se ogleda u podsticanju korišćenja bitkojn valute onih koji bi želeli da zarade putem “rudarenja”, jer se smanjenjem “difficulty” faktora povećava verovatnoća pronalaženja bloka u uslovima kada je mali broj učesnika zainteresovan da verifikuje transakcije. Sa druge strane,, “difficulty” faktor se povećava u slučajevima kada je veliki broj članova mreže spreman da vrši verifikaciju naloga, kako bi se ograničila stopa monetarnog rasta u željenim okvirima (Nakamoto n.d., p.3). Vrednost “difficulty” faktora se menja nakon svakih 2016 blokova.
Pritom sama mreža, odnosno algoritam na kome se zasnivaju transakcije u bitkojn valuti, definiše koliko bitkojna svako pojedinačno može kreirati, u skladu sa pravilom “kontrolisane ponude” (engl. “controlled supply”). Broj bitkojna koji se na ovaj način može generisati je u samom nastanku iznosio 50 BTC po bloku, dok od 2013. godine nagrada iznosi 25 BTC po bloku. Broj generisanih bitkojna po bloku transakcije biće prepolovljen na svake 4 godine, što će tokom vremena dovoditi do usporene stope rasta količine bitkojna u opticaju.
Emisija bitkojna i njeni efekti
Emisija bitkojna je u potpunosti isplanirana, odnosno programirana, i njeno upravljanje je dodeljeno samoj mreži, odnosno onim računarima koji vrše verifikaciju transakcija. Ovakav algoritam je izabran jer on u najvećoj meri aproksimira stopu rasta ekstrakcije pojedinih ruda kao što je zlato, budući da je ograničena količina bitkojna koja u jednom trenutku može postojati u sistemu i maksimalna količina koja se može „izrudariti“.
Programiranim tempom rasta količine BTC novca u opticaju određeno je da maksimalna količina emitovanih bitkojna nikada ne pređe nivo od 21.000.000 BTC. Budući da je za verifikaciju jednog bloka transakcija potrebno u proseku 10 minuta, to je ujedno i period tokom kojeg se broj bitkojna poveća za malopre pomenutih 25 (od početka 2013. godine do kraja 2017.), da bi se broj novoemitovanih BTC u jedinici vremena programirano smanjivao tokom vremena.
Međutim, primena ovakve programirane stope ograničenog i usporenog monetarnog rasta za posledicu može imati rast deviznog kursa bitkojna, kao i pad cena proizvoda izraženih u bitkojn valuti, što bi u konačnom trebalo da utiče na rast tražnje za ovom valutom. Prema nekim shvatanjima, upravo je ekspanzivna monetarna politika mnogih centralnih banaka nakon 2008. godine sa ciljem ublažavanja negativnih efekata krize i strah od inflacije jedan od najvažnijih faktora koji su uticali na relativno veliku tražnju za bitkojn valutom (Christin, Moore 2013, p.1). Po shvatanju kejnzijanaca, pad cena izraženih u jednoj valuti i istovremena apresijacija te valute može motivisati transaktore da više štede, a manje troše, što u konačnom može imati recesione efekte. Težnja ka štednji bi dovela do smanjenjog korišćenja ove valute, pa bi sve veći broj „mining“ računara napuštao mrežu, zbog čega bi došlo do ugrožavanja stabilnosti i slabljenja deviznog kursa ove valute (Barber i saradnici 2012, p.404). Sa druge strane, po shvatanju predstavnika austrijske škole, pad cena ne obuhvata samo pad cena finalnih prozvoda, već i inputa, tako da ne bi trebalo da dođe do smanjenja profita i recesije (En.bitcoin. it n.d.). Koja će se shvatanja pokazati ispravnim, zavisiće od niza faktora, pre svega stabilnosti i sigurnosti bitkojna kao valute.
Naime, trenutno se ova valuta može smatrati sigurnom za realizaciju transakcija, ali ne i dovoljno stabilnom u pogledu otpornosti na spekulativne udare i druge izvore nestabilnosti, budući da je trenutno njena kapitalizacija relativno mala, pa veoma mali poremećaji mogu uticati na značajna kolebanja cena i kursa. Naime, ova valuta može u velikoj meri biti podložna različitim spekulativnim napadima, budući da ne postoje regulativne odredbe i sankcije za one članove mreže koji bi trgovanjem pokušali da utiču na devizni kurs i tako ostvarili spekulativni profit i ugrozili integritet same valute. Treba imati u vidu i da su same transakcije anonimne, tako da bi se moglo postaviti pitanje određene regulacije ovih transakcija. Međutim, to bi moglo ugroziti anonimnost kao jednu od osnovnih prednosti ove valute. Sa rastom tržišta može se očekivati veći imunitet na spekulativne udare. Međutim, budući da će u narednom periodu stopa monetarnog rasta biti relativno mala, rast tržišta bi se mogao ostvariti jedino putem jačanja deviznog kursa ove valute, tj. ova valuta bi mogla postati stabilnija ukoliko bi dovoljno apresirala.
Deflaciona tendencija bi bila dodatno intenzivirana i usled delovanja sledećih faktora:
• Centralne banke svih zemalja bi u manjoj ili većoj meri povećavale količinu novca u opticaju svake godine, dok bi sa druge strane ponuda bitkojna bila relativno sporo rastuća. Pritom, treba imati u vidu da bi kurs bitkojna pre svega zavisio od tražnje za tom valutom. Iako je 2010. godine u odnosu na početnu 2009. stopa monetarnog rasta BTC valute iznosila 100%, trenutno oko 13% na godišnjem nivou, zbog same prirode proizvoda i usluga koje se njime mogu kupiti i usled sve većeg broja kompanija koje primaju bitkojn (En.bitcoin.it n.d.) kao sredstvo plaćanja, ovaj monetarni rast ne izaziva inflaciju.
• Paralelno sa padom cena izraženih u bitkojn valuti povećavala bi se granična sklonost štednji, pa bi povećanje brzine opticaja novca, kao potencijalni faktor koji bi mogao da utiče na smanjenje deflacionih procesa, izostalo (ECB 2012, p.25).
Kalkulacijom se takođe može doći do zaključka da će već 2025. godine stopa monetarnog rasta iznositi manje od 1% (tačnije 0,83%), a 2037. godine manje od 1‰ (tj. 0,095%). Nakon čega, monetarni rast će se i dalje nastaviti zanemarljivo malim stopama, ali nikada neće preći programiranu granicu od 21.000.000 BTC. Kretanje ponude bitkojna tokom vremena je prikazan na Grafikonu 1:
Inače, već 2035. godine. će u opticaju biti 99% programirane gornje granice bitkojna (približno 20.800.000 BTC), tj. do 2040. godine će nestati interes za daljim “rudarenjem” u današnjem smislu, jer bi bili potrebni ogromni resursi da bi se stvorio čak i minimalni deo jednog bitkojna. Nakon toga, predviđeno se da vlasnici “mining” računara zarađuju po osnovu nalaćivanja transakcionih troškova za verifikovane transkcije u određenom procentu (ECB 2012, p.25), tako da se dugoročno ovaj sistem može oceniti kao održiv. Stopa monetarnog rasta tokom vremena bi se u polulogaritamskom grafikonu sa prirodnom osnovom mogla predstaviti na Grafikonu 2:
Inače, broj generisanih bitkojna dnevno koje jedan pojedinac može ostvariti po osnovu “mining” aktivnosti je implementiran u samom kodu bitkojn valute i određuje se po sledećoj formuli (Bitcoin.stackexchange.com 2011):
Ukoliko bismo uprostili ovu formulu time što bismo deo formule sačinjen od više konstanti sveli na jedan realan broj dobili bismo njenu skraćenu verziju:
U ovom izrazu značenje parametara je sledeće:
• X predstavlja broj generisanih bitkojna,
• D predstavlja trenutni „difficulty“ faktor,
• H predstavlja trenutni „hash-rate“, odnosno brzinu kojom konkretan uređaj koji pojedinac poseduje vrši „rudarenje“,
• B predstavlja nagradu u bitkojnima za realizovan blok transakcija,
• 20,11626 predstavlja konstantu u formuli.
Kao što se može zapaziti, pored toga što zarada po osnovu “mining” procesa zavisi od tzv. “difficulty” faktora, predviđene brzine stvaranja BTC u jedinici vremena (trenutno iznosi 25 BTC po jednom bloku, odnosno na svakih 10-ak minuta), ovaj proces zavisi od brzine kojom računari vrše “rudarenje”. Brzina se izražava u h/s (engl. “hash per second”), odnosno u Mh/s ili Gh/s. Na osnovu kalkulacija se može zaključiti da zarada i brzina otplate po osnovu “mining” procesa zavisi od kvaliteta uređaja koji se koristi za taj proces. Inače, zarada po osnovu korišćenja klasičnih grafičkih kartica koje su se do nedavno koristile za ovaj proces je trenutno neuporedivo manja (nekoliko desetina do nekoliko hiljada puta) u odnosu na najsavremenije uređaje za “rudarenje” (En.bitcoin.it n.d.)). Budući da se tokom narednih godina može očekivati povećanje “difficulty” faktora (u skladu sa dosadašnjom tendencijom (Bitcoinx.com n.d.)) i smanjenje broja generisanih bitkojna po bloku transakcija, profitabilnost će se, pod pretpostavkom nepromenljivog kursa i nepromenjenih cena uređaja za “rudarenje” i električne energije višestruko smanjivati.
U Tabeli 1 su prikazani osnovni statistički podaci o bitkojn valuti na dan 22.03.2013. i na dan 30.08.2013. godine:
Kao što se može zapaziti, u odnosu na period pre 5 meseci, došlo je do povećanja bitkojn novčanih jedinica u opticaju, što je i očekivano, budući da je u pitanju programiran proces. Takođe, došlo je do povećanja tržišne kapitalizacije BTC valute, što je pre svega posledica njene apresijacije. Uvećanje kapitalizacije tokom vremena od samog nastanka 2009. godine, a naročito tokom 2013. godine, kako usred povećanja broja bitkojna, tako i usled apresijacije njegovog deviznog kursa može se uočiti sa Grafikona 3:
Može se reći da BTC valutni sistem ima određene sličnosti sa zlatnim standardom, jer postoji gornja granica rasta količine valute u opticaju, tako da, slično sistemu zlatnog važenja, može postati kočnica daljem razvoju, budući da onemogućuje povećanje tražnje putem povećanja količine novca u opticaju. Povezano sa pravilom “kontrolisane ponude”, poželjno je naglasiti da je čak i sam Milton Fridman smatrao da je monetarnu politiku programirane ili konstantne stope monetarnog rasta moguće uspešno implementiratu pomoću računara (Econlib.org 2006). Inače, pristalice bitkojna kritikuju sistem frakcionih rezervi. Takođe, smatraju da je nastanak ove valute početni korak u ukidanju monopola centralne banke kao ekskluzivnog emitenta novca (ECB 2012, p.22). Postoje i shvatanja da je kreator ove valute kao inspiraciju imao zlatni standard. Međutim, ono po čemu se ovaj sistem razlikuje od zlatnog standarda jeste nedostatak unutrašnje, tj. materijalne vrednosti koja je svojstvena robnom novcu kao što su to plemeniti metali, dok bitkojn poseduje samo funkcionalnu vrednost koja zavisi od njegove kupovne snage.
Postoje, međutim, i shvatanja da bitkojn valuta u suštini funkcioniše kao Ponzijeva šema, budući da onima koji ranije počnu sa njenim korišćenjem pruža mogućnost ostvarenja značajnog profita ukoliko prodaju svoje bitkojne u uslovima rasta cena. Međutim, kao razlike ovog sistema u odnosu na Ponzijevu šemu možemo izdvojiti (ECB 2012, p.27):
• Ne postoji očekivani finansijski prinos koji se može ostvariti niti se prilikom prvog korišćenja bitkojn valute potpisuje ugovor koji garantuje visok prinos, čak ni za početne ulagače. U praksi, profit se može ostvariti kako po osnovu rudarenja, čime nastaju novi bitkojni, tako i po osnovu jačanja deviznog kursa ove valute. Međutim, taj profit je neizvestan, pre svega komponenta koja se odnosi na apresijaciju deviznog kursa.
• Ne postoji centralna institucija ili kompanija koja bi mogla da pokupi novac od korisnika sistema i „nestane“. Iako u praksi oni koji su prvi počeli da „rudare“ uspevaju da najviše i zarade, svaki profit ostvaren po osnovu „rudarenja“ i kasnijeg izlaska iz sistema bi se pre mogao okarakterisati kao spekulacija („kupiti jeftino, prodati skupo“) nego Ponzijeva šema. Međutim, u praksi je ipak postojao primer koji demantuje ovaj argument, a u pitanju je slučaj kompanije „Bitcoin Savings and Trust“ (“BTCST”) koja je tokom 2011. i 2012, godine koristeći klasičnu Ponzijevu šemu proneverila novac svojih korisnika. Ipak, ovaj primer se može oceniti samo kao izuzetak, odnosno kao zloupotreba sistema, ali ne i kao dokaz da bitkojn valuta funkcioniše kao Ponzijeva šema.
Devizni kurs bitkojna
Devizni kurs bitkojna se, kao i u slučaju bilo koje druge valute formira na berzi, na bazi sučeljavanja ponude i tražnje za tom valutom. U odnosu na početak godine kada je BTC/USD kurs iznosio približno 13, krajem avgusta je vrednost bitkojna prema američkom dolaru približno 10 puta veća i BTC/USD kurs iznosi oko 130. Očigledno je da 1 BTC ima višestruko veću vrednost od bilo koji zvanične svetske valute, pri čemu se njegova vrednost uglavnom izražava u USD, budući da se na bitkojn berzama najveći deo bitkojna razmeni za američki dolar.
Krajem avgusta se u opticaju nalazi ukupno skoro 12 miliona BTC, pri čemu njihova ukupna vrednost izražena u USD približno iznosi preko 1,4 milijarde USD. Konkretno, to znači da je ukupna vrednost svih emitovanih bitkojna nominalno veća od bruto društvenog proizvoda pojedinih zemalja. Budući da je cena zlata približno 50 USD/g, možemo zaključiti da 1 bitkojn vredi nešto više od 2,5 grama zlata. Prevedeno u RSD po kursu od približno 85 RSD/USD, za kupovinu jednog bitkojna je na dan 29.08.2013. godine potrebno više od 11.000 RSD. Pritom, 1 bitkojn je jednak 100.000.000 „satoshis“-a (naziv „satoshis“ potiče od pseudonima Satoshi Nakamoto, tj. pseudonima kreatora ili grupe ljudi koji su stvorili bitkojn).
Inače, kurs bitkojna zavisi od ponude i tražnje za ovom valutom. Kretanje srednjeg ponderisanog dnevnog kursa BTC valute u odnosu na USD može se uočiti na osnovu Grafikona 4:
Na osnovu dostupnih podataka od početka 2013. godine statističkom analizom može se doći do zaključka da linearna funkcija trenda najbolje opisuje kretanje vrednosti BTC valute. Ocenjena linearna funkcija trenda glasi:
BTC/USD = 27.95 + 0.45t
pri čemu je bazni period 1. januar 2013. godine, a to je ceo broj koji predstavlja broj dana nakon 1.januara. Međutim, budući da je koeficijent determinacije svega r²= 0.52, ocenjena funkcija trenda se ne može primeniti za ekstrapolaciju, odnosno ne bismo mogli sa velikim stepenom sigurnosti da procenimo kretanje vrednosti bitkojna u budućnosti. Ovako nizak koeficijent determinacije ukazuje na činjenicu da je devizni kurs bitkojna veoma nestabilan. Nestabilnosti deviznog kursa bitkojna u velikoj meri doprinosi i podložnost različitim šokovima, o čemu će više reči biti kasnije.
Prednosti i nedostaci bitkojn valute
Kao osnovne prednosti bitkojna u odnosu na ostale, kako nacionalne, tako i alternativne valute, obično se navode:
• Za razliku od transakcija klasičnim elektronskim novcem koji se nalazi na računima banaka, u slučaju bitkojna ne postoje transakcioni troškovi ili su oni svedeni na minimum, dok sa druge strane ne postoji ograničenje u pogledu minimalnog iznosa transakcije koju je moguće realizovati (Nakamoto n.d., p.1).
• Kontrolu transakcija i emisiju BTC valute vrše kompjuterski algoritmi, čime se onemogućava pojava veštački izazvane inflacije. Takođe, ovom verifikacijom se izbegava “duplo plaćanje” (engl. “double-spending”), čime bi se mogao zloupotrebiti sistem (Bitcoin.org/en/ about n.d.) i nekontrolisano povećavala količina novca u opticaju. Sigurnost plaćanja je pritom zasnovana na korišćenju kriptografije.
• Praktično je gotovo nemoguće falsifikovati bitkojn. Teoretski, to bi bilo moguće ukoliko bi se isti BTC iskoristio za istovremeno obavljanje dva plaćanja. Međutim, lanac digitalnih potpisa onemogućava takve transakcije (Stanford Bitcoin Group n.d.).
• Omogućena je potpuna anonimnost transaktora. Međutim, iako ovo predstavlja pogodnost za određene grupe ekonomskih subjekata, sa aspekta poreskih i regulatornih organa ova osobina bitkojna bi se definitivno mogla oceniti kao njen nedostatak. Za razliku od elektronskog novca u platnom prometu kod kojeg su informacije o učesnicima u transakciji javnog, a informacije o transakcijama privatnog karaktera, u slučaju bitkojn valute su informacije o transaktorima privatnog karaktera, tj. veoma često ni samim transaktorima nije poznato kome vrše plaćanja, dok su same karakteristike realizovane transakcije javnog karaktera.
Sa druge strane, kao neke od osnovnih nedostataka bitkojn valute možemo izdvojiti sledeće:
• Bitkojn nije široko prihvaćen kao sredstvo plaćanja. Naime, veoma je mali broj privrednih subjekata koji primaju bitkojn za prodaju prodaju robe, odnosno pružanje usluga. Iako je broj ovih subjekata sve veći, uloga bitkojna kao sredstva plaćanja je još uvek veoma ograničena. Razlog ovoj pojavi leži kako u činjenici da postoji niz proizvoda koji se ne mogu kupiti za bitkojn, tako i u činjenici da ova valuta ne postoji u svojoj fizičkoj verziji, tako da se može koristiti jedino za elektronska plaćanja.
• Devizni kurs bitkojna je veoma nestabilan. Tome u velikoj meri doprinosi i nepostojanje centralnog entiteta poput centralne banke koja bi putem intervencija na deviznom tržištu ili nekom drugom merom monetarne politike mogla pozitivno da utiče na njegovu stabilizaciju.
• Transakcije bitkojn valutama nisu reverzibilne, što znači da nije moguće poništiti već realizovanu transakciju. Iako se ova osobina bitkojn valute može smatrati njenim nedostatkom, značajno je zapaziti da bitkojn u suštini više liči na keš nego na elektronski novac, pa samim tim nema nikakvu mogućnost poništavanja transakcija, jer po definiciji ne postoji sistem za praćenje toka novca. Drugim rečima, transakcije realizovane elektronskim novcem koji se nalazi na računima banaka se mogu poništiti u određenom roku. Sa druge strane, u najvećem broju slučajeva gotovinu potrošenu u prodavnici uglavnom nećemo moći da povratimo, osim ukoliko nije u pitanju roba sa garancijom i sl. Upravo u ovome i leži jedan od najvećih problema vezan za korišćenje bitkojn valute, a koji se odnosi na teškoće prilikom povraćaja novca u slučaju kupovine neispravnih proizvoda bez adekvatno regulisane garancije. Sa druge strane, ovo je odličan mehanizam zaštite prodavaca od zloupotreba, jer im ovaj mehanizam omogućuje sigurnu i momentalnu naplatu svojih potraživanja po osnovu prodate robe (Nakamoto n.d., p.1). Vezano za reverzibilnost transakcija, značajno je naglasiti da je osnovni uzrok ove osobine bitkojna činjenica da, u opštem slučaju, ne postoji posrednik u plaćanju, odnosno, sve plaćanja se vrše direktno između tržišnih subjekata. Iako se nererzibilnost može oceniti kao nedostatak bitkojna, treba imati u vidu da nepostojanje posrednika za posledicu ima nepostojanje provizija koje bi u suprotnom naplaćivale banke ili drugi posrednici u platnom prometu. Međutim, ne treba zanemariti činjenicu da postoje opcione provizije koje plaćaju oni koji žele da transakcija u bitkojn valuti bude brže realizovana (Stanford Bitcoin Group n.d.).
• Iako je reč o vidu elektronskog novca, postoji mogućnost njegovog gubitka. Naime, jedna od specifičnosti ove valute jeste da ona postoji samo u svojoj elektronskoj verziji. Pritom se nalog koji se koristi za plaćanja razlikuje od klasičnog transakcionog računa u banci po tome što ne postoji institucija poput banke koja bi transaktorima zatvorila ili blokirala nalog. Takođe, ne postoje nikakva ograničenja u pogledu korišćenja bitkojna. Nalog mogu deaktivirati sami korisnici sistema time što bi prestali da ga koriste i time što bi se oslobodila svih BTC valuta na svom nalogu. Nalog se inače gubi i ukoliko se prilikom oporavka operativnog sistema na računaru ne obezbedi skladištenje (engl. “backup”) bitkojna. Time se faktički taj novac trajno gubi iz sistema. U tome se faktički i ogleda sličnost između bitkojn valute i običnog novca, budući da on praktično može biti izgubljen ili uništen (Kaplanov 2012, p.116). Međutim, za razliku od običnog novca koji može biti dodatno otštampan od strane centralne banke, u slučaju bitkojna ne postoji entitet koji bi emitovao novu količinu novčanih jedinica koje bi zamenile nestale ili uništene bitkojne.
• Kao poslednji nedostatak bitkojna bismo mogli navesti sve one probleme koji se odnose na zloupotrebe kojima je on podložan, a koji se odnose na mogućnost obavljanja nelegalnih aktivnosti, pranje novca, stvaranja “crnih tržišta”, ali i poreskih rajeva, mogućnost poreske evazije, ali i neotpornost na različite napade kompjuterskih virusa itd.
Korišćenje BTC valute se preporučuje manjim kompanijama i preduzetnicima, budući da im omogućuje prodaju proizvoda i njihovu naplatu uz niže transakcione troškove, tj. bez provizija različitih finansijskih institucija, kao i zahvaljujući činjenici da je veoma lako implementirati ovaj oblik prodaje i naplate prodaje putem Interneta. Međutim, time se može dovesti u pitanje legalnost obavljanja takvih aktivnosti, naročito kada je reč o prodaji digitalnih proizvoda (softvera, muzike,…) koji se mogu neograničen broj puta umnožavati i prodavati bez ikakve evidencije, čime se može izbeći izvršenje poreske obaveze.
Finansijske institucije koje posluju sa bitkojnima
Trenutno postoji oko 50 aktivnih berzi na kojima se zvanične valute mogu razmeniti za bitkojn, od kojih je najznačajnija “MtGox” na kojoj se dnevno razmeni oko 64% ukupnog prometa bitkojn valutom za ostale zvanične valute i obrnuto. Inače, bitkojn se najviše razmenjuje za USD (74%) i EUR (14%), dok je značaj svih ostalih valuta zanemarljiv (Bitcoincharts.com n.d.). Inače, statistička analiza aktivnih i ugašenih bitkojn berzi je pokazala nekoliko zakonitosti (Christin, Moore 2013, p.7):
• Sa povećanjem prometa na nekoj berzi smanjuje se verovatnoća da će doći do njenog zatvaranja
• S druge strane, što je promet na nekoj berzi veći, postojaće i veća šansa da dođe do različitih oblika zloupotreba i prekršaja.
Pritom treba imati u vidu da je u ovoj analizi apstrahovan niz faktora koji bi potencijalno mogli da utiču na dobijanje drugačijih rezultata. Primera radi, nije uzeta u obzir reputacija samih berzi, odnosno činjenica da će atraktivnost same berze zavisiti od sigurnosti koju ona pruža svojim korisnicima.
Takođe, iako je kao jedna od osnovnih karakteristika kriptovaluta, a samim tim i bitkojna, navedena činjenica da ovakve valute u opštem slučaju funkcionišu bez posredovanja finansijskijh institucija, ne treba zanemariti činjenicu da se marta 2013. godine pojavio prvi hedž fond „Exante“ koji investira u bitkojn. Treba međutim naznačiti da ovaj fond ima širok portfolio aktivnosti, pri čemu su operacije sa bitkojnom samo jedna od njih. Fond kao naknadu za svoje usluge ne naplaćuje procentualni deo ostvarenog profita, već fiksnu proviziju od 0,5% neto vrednosti Bitcoin Fund-a. Pritom, ovaj fond ogroman akcenat stavlja na zaštitu podataka i sigurnost fonda. Marta 2013. godine vrednost fonda je iznosila približno 3,2 miliona USD. Inače, za pristup fondu su neophodna inicijalna ulaganja od minimum 100.000 USD (Forbes.com 2013). Ovaj fond ostvaruje zaradu po osnovu kapitalnih dobitaka na kupljene bitkojne, pri čemu jedna akcija ovog fonda vredi tačno jedan BTC. S obzirom na vrtoglavi rast vrednosti bitkojn valute, očekuju se visoki prinosi po osnovu plasmana ovog fonda. Kao osnovne prednosti investiranja u fond umesto direktne kupovine BTC valute navode se (Exante.eu/press/news2013[a]):
• Lakše je kupiti akcije/investicione jedinice fonda nego bitkojn.
• Sredstva investirana u fondove umesto u direktnu kupovinu bitkojn valute se smatraju sigurnijim, budući da takvi fondovi, između ostalog i Exante, značajan akcenat stavljaju na kriptografsku sigurnost sredstava svojih korisnika.
Inače, od juna 2013. godine ovaj fond svojim klijentima nudi „Automatic Trading Platform“ (ATP), odnosno elektronsku platformu za trgovinu koja im omogućuje niz usluga koje se, između ostalog, odnose na različite statističke alate i portfolio menadžment (Exante.eu/press/news 2013[b]).
Međutim, ovaj fond nije prva finansijska institucija koja je radila sa bitkojn valutom. Naime, ne treba zaboraviti ni na „Bitcoin Savings and Trust“ (“BTCST”) kompaniju koja je, koristeći klasičnu Ponzijevu šemu, od 2011. do septembra 2012. godine prikupila oko 700.000 BTC (vrednih više od 4,5 miliona USD) od svojih klijenata obećavši im nedeljne stope prinosa od čak 7%, a zatim taj novac proneverila. Tim povodom je jula 2013. godine američka “Komisija za hartije od vrednosti i berzu” (engl. “Securities and Exchange Commission” - SEC) optužila ovu kompaniju i Trendon Shaversa, njenog osnivača (Wang 2013).
Takođe, postoje i najave da će vlasnici BTC valute moći da na realnim bankomatima da povlače zvaničan novac čiji je emitent centralna banka u ekvivalentnom iznosu (eventualno umanjenom za određenu proviziju), kao i da će se moći koristiti prilikom kupovine u prodavnicama na POS terminalima (Newscientist.com 2012).
Kao što se može zaključiti, iako je bitkojn po svojoj prirodi decentralizovana valuta koja čak i eliminiše potrebu za finansijskim posrednicima, same potrebe njegovih korisnika očigledno nameću potrebu za odgovarajućim finansijskim institucijama koje bi imale različite funkcije u bitkojn transakcijama. Kao neke od finansijskih institucija koje za sada posluju sa bitkojn valutom za sada su se izdvojile berze koje omogućuju razmenu najpoznatijih svetskih valuta za bitkojn i obratno. Takođe, sve češće se javljaju i druge finansijske institucije kao posrednici u plaćanju bitkojnima, a koje svojim klijentima nude veći stepen zaštite podataka i sigurnosti pri obavljanju transakcija u odnosu na direktna plaćanja bez korišćenja usluga finansijskih posrednika. U tom smislu, ukoliko izvršimo komparaciju razvoja decentralizovane bitkojn valute sa razvojem klasičnog novca, pojava nekog oblika centralnog entiteta u ovom sistemu (po osnovu ekonomske moći ili po osnovu nekih zakonskih odredbi) koji bi preuzeo neke od funkcija klasične centralne banke više ne deluje kao naučna fantastika. Naime, prvi oblici novca su, kao što je poznato, bili stoka, koža, so, med, krzno, kasnije metali kao što su gvožđe, bakar i plemeniti metali (srebro i zlato), a zatim i novčanice. Paralelno sa razvojem sredstava plaćanja javljali su se novi učesnici u privrednom životu kao što su zlatari koji su izdavali certifikate po osnovu deponovanog novca i međusobno vršili kliring potraživanja svojih klijenata. Nakon toga nastaju i privilegovane banke koje su bile jedine ovlašćene od strane države da emituju banknote, da bi prve centralne banke nastale tek u 17. veku (Đurović-Todorović 2010, str.18- 23). U tom smislu, iako prve oblike novca nije emitovala nijedna centralna institucija, već sami ljudi, nije isključena mogućnost da nekada u budućnosti kriptovalute kao što je bitkojn, koje su po svojoj prirodi decentralizovane, dobiju centralnu instituciju. Međutim, budući da, prema mnogim shvatanjima, upravo decentralizovanost ovakve valute predstavlja faktor koji u najvećoj meri pozitivno utiče na tražnju za takvom valutom, postoji verovatnoća da bi u slučaju pojave centralnog entiteta u takvim sistemima opala tražnja za tim valutama, a povećala se tražnja za drugim valutama koje još uvek nisu centralizovane. U konačnom, ceteris paribus, pokušaj regulacije i centralizacije neke kriptovalute bi u konačnom samo mogao dovesti do napuštanja tih valuta, erozije njihovog značaja i migracije korisnika i tranfera njihovih sredstava u druge valute.
Problemi funkcionisanja i regulacija bitkojna
Bitkojn valuta je gotovo u potpunosti van regulacionog spektra centralne banke i poreskih organa. Stoga je pojedini autori pogodnim instrumentom za stvaranje “crnog tržišta” različitih roba i usluga, a najznačajnija opasnost postoji ukoliko bi se koristila za obavljanje nelegalnih aktivnosti. Primera radi, zabeleženi su slučajevi kada se bitkojn valuta koristila za kupovinu droge putem Interneta (Manchin. senate.gov 2011).
Takođe, ništa beznačajniji nisu problemi po osnovu krađe (koje su se već dešavale) ili potencijalnog nekontrolisanog umnožavanja ove valute od strane cyber-kriminalaca (što je za sada praktično neizvodljivo). Usled toga, može doći i do značajnih fluktuacija kursa bitkojn valute. Između ostalog, postoje i procene stručnjaka za kriptografiju i sigurnost podataka na Internetu da se sigurnost ove valute može oceniti kao veoma niska (Economist.com 2012). Primera radi, 2011. godine se pojavio kompjuterski virus, tj. „Trojanac“ koji “krade bitkojn novčanike” (engl. „Bitcoin wallet“), tj. koji, ukoliko se nađe na računaru onog ko koristi bitkojn valutu, preuzima i šalje putem Interneta na odgovarajuću adresu kompjuterske fajlove pomoću kojih je moguće sa nekog drugog računara koristiti tuđ bitkojn novac (Symantec.com 2011). Usled tog sigurnosnog kolapsa, vrednost bitkojna je pala sa 30,99 USD 08.06.2011. na svega 0,10 USD 20.06.2011. Do decembra 2011. godine vrednost valute se vratila na nešto više od 3 USD (ECB 2012, p.38). Sledeći značajan udarac na bitkojn valutu dogodio se 10. aprila 2013. godine. Tog dana je trgovina BTC valutom otpočela po ceni od 200 USD, da bi tokom dana dostigla svoj istorijski maksimum od čak 266 USD, da bi u roku od par sati njena vrednost pala ispod 100 USD. Iako su se prve sumnje odnosile na dv. DDoS napad, zvaničnici MtGox berze su izjavili da je uzrok ovog problema preveliki obim trgovine.
Inače, DDoS napad (engl. „distributed denial- of-service attack“) predstavlja napad na tržišni centar putem masovnog ispostavljanja naloga za trgovinu kako bi se izazvala blokada u trgovini i izvršio uticaj na cenu. Međutim, pravi DDoS napad je ubrzo zaista usledio, pa je berza prekinula proces trgovanja u periodu od 2 sata, mada je i narednih 8 sati postojao problem u pristupu mreži. Prekid trgovanja se desio na još nekim bitkojn berzama. Ovaj kolaps je ukazao na neke od osnovnih slabosti bitkojn valute, a koje se odnose kako na dominantan položaj MtGox berze, tako i na činjenicu da je veliki broj elektronskih berzi za trgovanje bitkojn valutom razvijan od strane web developer-a koji jesu iskusni profesionalci, ali nisu poznavali u dovoljnoj meri način funkcionisanja finansijskih berzi (Bitcoinmagazine.com 2013).
Jedno od osnovnih pitanja koje se postavlja od same pojave bitkojn valute odnosi se na legalnost njegove primene. Inače, kao razlozi zbog kojih bi bitkojn trebalo smatrati potpuno legalnom valutom navode se: pravo na slobodnu razmenu, činjenica da bitkojn ne predstavlja alternativu američkom dolaru kao zvaničnoj valuti, odnosno ni na koji način ne predstavljaju njegov falsifikat, niti se nalaze u širokoj upotrebi. Sa druge strane, kao razlozi zbog kojih bi trebalo zakonski preciznije regulisati korišćenje bitkojna navode se povećana mogućnost poreske evazije i činjenica da bitkojn otvara mogućnost za kreiranje poreskih rajeva i crnog tržišta različite robe (pre svega droge), kao i za pranje novca.
Naime, transakcije u bitkojnima prema nekim ocenama imaju klasične elemente bartera, odnosno trampe, a takve transakcije su oporezive. Međutim, bitkojn po svojoj prirodi nudi anonimnost i mogućnost prikrivanja brojnih transakcija od poreskih organa čime se izbegava izvršenje poreske obaveze. Takođe, značajno pitanje se odnosi i na nadležno zakonodavstvo u slučaju transakcija u bitkojn valuti na međunarodnom nivou, kada bi bilo veoma teško utvrditi nadležnu poresku vlast. Sa jedne strane, kriptovalute (među kojima je trenutno najaktuelniji bitkojn) su sve popularnije. Sa druge strane, finansijske institucije su pod sve većim pritiskom da dostavljaju potrebne informacije o svojim klijentima poreskim organima i sarađuju sa njima kako bi se sprečila poreska evazija. Iako je reč o potpuno nezavisnim procesima, činjenica je da oni u sve većoj meri konvergiraju (Marian 2013, p.38). U tom smislu, korišćenje kriptovaluta je po svojim efektima dosta slično poslovanju u ofšor zonama, budući da profit ostvaren u, primera radi, bitkojn valuti nije predmet oporezivanja, a takođe korisnici ovih valuta imaju obezbeđenu anonimnost. Praktično, sa nastankom kriptovaluta poreski obveznici su dobili novo oružje za poresku evaziju. Štaviše, ne postoji ni institucija od koje bi poreski organi mogli da zahtevaju dostavljanje informacija o vlasnicima računa u toj valuti. U sistemima plaćanja zasnovanim na kriptovalutama ne postoje ni centralne banke kao emitenti, ni klasične finansijske institucije koje bi mogle biti predmet različitih pritisaka poreskih organa. Drugim rečima, korišćenje kriptovaluta za sada, uslovno rečeno, poreske vlasti ne mogu uspešno da kontrolišu, odnosno da detektuju korišćenje ovih valuta na sistematičan način, osim eventualno u pojedinačnim slučajevima. Prema nekim shvatanjima, postoji opasnost da će se u budućnosti poreska evazija sve više odvijati putem korišćenja kriptovaluta, a na štetu sadašnjih ofšor zona, odnosno mogu im predstavljati direktnu konkurenciju. Međutim, sa druge strane treba imati u vidu relativno malu vrednost virtuelne ekonomije u okviru koje se koriste te vrituelne valute, tako da je za sada prisutno i relativno malo interesovanje nadležnih poreskih organa za većom kontrolom ovih tokova. Takođe, trenutni ekonomski potencijal kriptovaluta im ne omogućuje da postanu značajnija konkurencija ofšor zonama.
Pored poreske evazije, anonimnost koja je imanentna bitkojn valuti pruža i niz mogućnosti za prikrivanje različitih kriminalnih aktivnosti. Pod tim pre svega imamo u vidu trgovinu drogom, pranje novca, i niz drugih kriminalnih aktivnosti.
Stoga, kao potencijalna rešenja za rizike koje primena ove valute sa sobom nosi mogu se izdvojiti sledeći predlozi (www-cs-faculty. stanford.edu n.d.[2]):
• Forsirano licenciranje - Budući da u slučaju bitkojna ne postoji centralni entitet niti klasične finansijske institucije koje bi mogle biti primorane da izvrše registraciju kao posrednici u plaćanju (engl. „money transmitters“), postoje predlozi da bi se registracija trebala odnositi samo na vlasnike „mining“ računara. Međutim, to bi predstavljalo isuviše komplikovanu proceduru, a takođe bi postojao problem vezan za regulaciju ukoliko bi se „rudarenje“ vršilo iz drugih zemalja u kojima ne postoji ovakav oblik regulacije.
• Zahtevi za poreskim izveštajima - Postoji ideja da bi svi korisnici bitkojna trebalo da automatski budu u obavezi da poreskim organima dostavljaju sve izveštaje o transakcijama u ovoj valuti. Međutim, primenom ovakve mere poreski organi bi se suočili sa preprekama kao što su: mogućnost obavljanja transakcija iz inostranstva, teška izvodljivost s obzirom na neophodnost saglasnosti korisnika, nestabilna vrednost bitkojn valute i niz drugih.
• Prinudno gašenje - Kao jedan od načina za gašenje ove i sličnih valuta može se navesti i formalna zabrana korišćenja ovakvih valuta kao sredstava plaćanja i donošenje niza restriktivnih zakonskih odredbi kojima bi se suzbijalo ili kontrolisalo korišćenje ovih valuta. Takođe, postoje ideje da bi virtuelne valute, s obzirom na relativno mali ekonomski značaj, mogle da budu u potpunosti otkupljene od strane centralne banke ili da centralna banka angažuje resurse koje bi koristila za „rudarenje“ tih valuta, čime bi one bile eliminisane iz dalje upotrebe (Marian 2013, p.47). Međutim, to bi uvek iziskivalo manje ili veće troškove. Takođe, tu bi se možda pojavila i mogućnost različitih zloupotreba.
Međutim, i pored izdvojenih teorijskih shvatanja o nužnosti i načinu regulacije transakcija u bitkojn valuti, zanemarljivo mali broj zemalja je učinio nešto konkretno po tom pitanju. Primera radi, u slučaju SAD-a ne postoji nijedna zakonska odredba kojom se izričito zaključuje zabrana korišćenja ove valute i definiše njeno korišćenje ilegalnom aktivnošću (www-cs-faculty.stanford.edu n.d.[1]). Sa druge strane, postoje i određeni pokušaji da se različitim preporukama, direktivama i podzakonskim aktima daju smernice za regulaciju alternativnih valuta, uključujući i decentralizovane virtuelne valute kao što je bitkojn. Jedan od njih je i „Primena FinCEN- ove regulacije na osobe koje administriraju, razmenjuju i koriste virtuelne valute” (engl. „Application of FinCEN’s Regulations to Persons Administering, Exchanging, or Using Virtual Currencies”). U pitanju je preporuka kojom je “Financial Crimes Enforcement Network” kao departman Trezora SAD-a pokušao da da sugeriše način implementacije „Bank Secrecy Act“ regulative na virtuelne valute. Prema ovoj preporuci, ekonomski subjekt koji kreira virtuelnu valutu i koristi je za kupovinu realnih dobara i usluga se smatra korisnikom te valute i njegove aktivnosti nisu predmet regulacije. Sa druge strane, subjekt koji kreira virtuelnu valutu i prodaje je za zvanično sredstvo plaćanja se smatra posrednikom u plaćanju i njihove aktivnosti su predmet regulacije (Fincen.gov 2013, p.5). Međutim, osim ovog pojmovnog razgraničenja ovom preporukom nije dat odgovor na niz dodatnih pitanja vezanih za regulaciju ovih transakcija.
U Nemačkoj je ove godine bitkojn dobio status „privatnog novca“ (engl. „private money“), čime je načinjen značajan korak napred ka širem zakonskom obuhvatu i masovnijem korišćenju ove valute. Korišćenje bitkojna i njegova emisija nisu zabranjeni, međutim, profit po osnovu korišćenja bitkojna podleže poreskim zakonima. Naime, prihodi ostvareni po osnovu prodaje proizvoda i pružanja usluga ostvareni u bitkojn valuti se oporezuju porezom na dodatu vrednost, dok se sav ostali profit po osnovu emisije ili korišćenja bitkojna oporezuje porezom na dohodak, odnosno dobit (Dw.de 2013). Međutim, nije naglašeno na koji bi način bilo rešeno pitanje poreske evazije.
Iako po pitanju regulacije bitkojna nije mnogo učinjeno ni u Francuskoj, značajno je zapaziti činjenicu da su regulatorni organi Bitcoin-Central-i, jednoj od bitkojn berzi, dali dozvolu za obavljanje određenih bankarskih poslova, pre svega onih vezanih za usluge platnog prometa. Time će njenim klijentima biti omogućeno da deponuju sredstva u evrima ili bitkojnima i da ih jednostavno konvertuju (Tagteam.harvard.edu n.d.). Takođe, ova sredstva su deponovana na računu druge finansijske institucije, i u skladu sa tim su osigurana do iznosa od 100.000 EUR od strane francuskog “Fonda za garanciju depozita” (franc. „Fonds de garantie des dépôts “) (En. bitcoin.it n.d.).
Međutim, i pored ovih pojedinačnih izuzetaka, u opštem slučaju područje alternativnih valuta, a pre svega decentralizovanih kriptovaluta kao što je bitkojn do sada nije adekvatno, nedvosmisleno i u potpunosti regulisano ni u jednoj od relevantnih jurisdikcija.
Zaključak
Bitkojn predstavlja specifičnu valutu koja se po svojim karakteristikama razlikuje od svih svojih prethodnika. Otkad se pojavila pokrenula je niz kontroverzi vezanih za pozitivne i negativne efekte njene primene. Emisija ove valute je kompjuterski programirana i ograničena, zasnovana na „peer-to-peer“ tehnologiji i tehnologiji enkripcije podataka čime se faktički eliminiše mogućnost dvostrukog plaćanja, falsifikovanja i sličnih zloupotreba. To je ujedno i jedan od glavnih razloga zbog čega se ova valuta smatra sigurnom iako ne postoji centralna emisiona institucija. Transakcioni troškovi su veoma niski, gotovo su zanemarljivi, ali same transakcije nisu reverzibilne, što se može oceniti značajnim nedostatkom ove valute.
Međutim, s obzirom na činjenicu da je makroekonomski značaj bitkojna zanemarljivo mali, čak i manji šokovi mogu negativno uticati na njegovu stabilnost i izazvati drastične fluktuacije deviznog kursa. Pritom ne postoji centralna institucija koja bi mogla svojim merama pozitivno da utiče na njegovu stabilizaciju, a što može predstavljati značajnu prepreku za masovnije korišćenje ove valute. Budući da ova valuta svojim korisnicima praktično pruža potpunu anonimnost i netransparentnost njihovih aktivnosti, postoje kritike da se na taj način kreira pogodan ambijent za pranje novca, kreiranje crnih tržišta nelegalne robe, poresku evaziju i niz drugih kriminalnih radnji. Takođe, postojali su slučajevi različitih zloupotreba poput Ponzijevih šema i kompjuterskih Trojanaca koji su korišćeni za krađu elektronskih novčanika korisnika bitkojn valuta.
Stoga se vodi sve češća diskusija o potrebi regulisanja ovakvih kriptovaluta. Iako je određen broj zemalja počeo da reguliše bitkojn transakcije, i dalje je relativno malo učinjeno po tom pitanju budući da ovakvo pitanje zahteva veliku opreznost. Naime, bilo koji oblik kontrole i regulacije ovakvih valuta bi za posledicu mogao imati preusmeravanje korisnika tih valuta na korišćenje drugih kriptovaluta koje još uvek nisu predmet regulative ili transfer bitkojn transakcija u one jurisdikcije u kojima one nisu regulisane. U tom smislu, jedan od najvećih izazova za centralne banke i nacionalne regulatorne organe u budućem periodu će se vrlo verovatno odnositi na praćenje efekata korišćenja ovakvih valuta i njihovu regulaciju, odnosno preduzimanje adekvatnih mera u slučaju različitih zloupotreba ili izazivanja nestabilnosti. Kakva će biti budućnost bitkojna i sličnih kriptovaluta zavisiće kako od regulacije ovakvih valuta, tako i od njihove sigurnosti i stabilnosti.
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Barber Simon, Boyen Xavier, Shi Elaine, Uzun Ersin, “Bitter to Better - How to Make Bitcoin a Better Currency”, Financial Cryptography, Volume 7397 of Lecture Notes in Computer Science, page 399-414. Springer (2012), crypto.stanford.edu/~xb/fc12/bitcoin.pdf, Vreme pristupa: 02.08.2013.
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Bitcoinbalkan.com, “Uvod u Bitcoin”, 2012, bitcoinbalkan.com/uvod-u-bitcoin, Vreme pristupa: 24.08.2013.
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Christin Nicolas, Moore Tyler, “Beware the Middleman: Empirical Analysis of Bitcoin Exchange Risk”, Financial Cryptography, Volume 7859 of Lecture Notes in Computer Science, pages 25-33. Springer (2013), andrew.cmu.edu/user/nicolasc/publications/MC-FC13.pdf, Vreme pristupa: 07.08.2013.
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- Đurović-Todorović Jadranka, „Monetarna ekonomija“, Ekonomski fakultet u Nišu, Niš, 2010.
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@ dfa02707:41ca50e3
2025-06-07 10:02:18
Contribute to keep No Bullshit Bitcoin news going.
This update brings key enhancements for clarity and usability:
- Recent Blocks View: Added to the Send tab and inspired by Mempool's visualization, it displays the last 2 blocks and the estimated next block to help choose fee rates.
- Camera System Overhaul: Features a new library for higher resolution detection and mouse-scroll zoom support when available.
- Vector-Based Images: All app images are now vectorized and theme-aware, enhancing contrast, especially in dark mode.
- Tor & P2A Updates: Upgraded internal Tor and improved support for pay-to-anchor (P2A) outputs.
- Linux Package Rename: For Linux users, Sparrow has been renamed to sparrowwallet (or sparrowserver); in some cases, the original sparrow package may need manual removal.
- Additional updates include showing total payments in multi-payment transaction diagrams, better handling of long labels, and other UI enhancements.
- Sparrow v2.2.1 is a bug fix release that addresses missing UUID issue when starting Tor on recent macOS versions, icons for external sources in Settings and Recent Blocks view, repackaged
.debinstalls to use older gzip instead of zstd compression, and removed display of median fee rate where fee rates source is set to Server.
Learn how to get started with Sparrow wallet:
Release notes (v2.2.0)
- Added Recent Blocks view to Send tab.
- Converted all bitmapped images to theme aware SVG format for all wallet models and dialogs.
- Support send and display of pay to anchor (P2A) outputs.
- Renamed
sparrowpackage tosparrowwalletandsparrowserveron Linux. - Switched camera library to openpnp-capture.
- Support FHD (1920 x 1080) and UHD4k (3840 x 2160) capture resolutions.
- Support camera zoom with mouse scroll where possible.
- In the Download Verifier, prefer verifying the dropped file over the default file where the file is not in the manifest.
- Show a warning (with an option to disable the check) when importing a wallet with a derivation path matching another script type.
- In Cormorant, avoid calling the
listwalletdirRPC on initialization due to a potentially slow response on Windows. - Avoid server address resolution for public servers.
- Assume server address is non local for resolution failures where a proxy is configured.
- Added a tooltip to indicate truncated labels in table cells.
- Dynamically truncate input and output labels in the tree on a transaction tab, and add tooltips if necessary.
- Improved tooltips for wallet tabs and transaction diagrams with long labels.
- Show the address where available on input and output tooltips in transaction tab tree.
- Show the total amount sent in payments in the transaction diagram when constructing multiple payment transactions.
- Reset preferred table column widths on adjustment to improve handling after window resizing.
- Added accessible text to improve screen reader navigation on seed entry.
- Made Wallet Summary table grow horizontally with dialog sizing.
- Reduced tooltip show delay to 200ms.
- Show transaction diagram fee percentage as less than 0.01% rather than 0.00%.
- Optimized and reduced Electrum server RPC calls.
- Upgraded Bouncy Castle, PGPainless and Logback libraries.
- Upgraded internal Tor to v0.4.8.16.
- Bug fix: Fixed issue with random ordering of keystore origins on labels import.
- Bug fix: Fixed non-zero account script type detection when signing a message on Trezor devices.
- Bug fix: Fixed issue parsing remote Coldcard xpub encoded on a different network.
- Bug fix: Fixed inclusion of fees on wallet label exports.
- Bug fix: Increase Trezor device libusb timeout.
Linux users: Note that the
sparrowpackage has been renamed tosparrowwalletorsparrowserver, and in some cases you may need to manually uninstall the originalsparrowpackage. Look in the/optfolder to ensure you have the new name, and the original is removed.What's new in v2.2.1
- Updated Tor library to fix missing UUID issue when starting Tor on recent macOS versions.
- Repackaged
.debinstalls to use older gzip instead of zstd compression. - Removed display of median fee rate where fee rates source is set to Server.
- Added icons for external sources in Settings and Recent Blocks view
- Bug fix: Fixed issue in Recent Blocks view when switching fee rates source
- Bug fix: Fixed NPE on null fee returned from server
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@ 9ca447d2:fbf5a36d
2025-06-07 14:00:47
CANNES, FRANCE – May 2025 — Bitcoin mining made its mark at the world’s most prestigious film gathering this year as Puerto Rican director and producer Alana Mediavilla introduced her feature documentary Dirty Coin: The Bitcoin Mining Documentary at the Marché du Film during the Cannes Film Festival.
The film puts bitcoin mining at the center of a rising global conversation about energy, technology, and economic freedom.
Dirty Coin is the first feature-length documentary to explore bitcoin mining through immersive, on-the-ground case studies.
From rural towns in the United States to hydro-powered sites in Latin America and the Congo, the film follows miners and communities navigating what may be one of the most misunderstood technologies of our time.
The result is a human-centered look at how bitcoin mining is transforming local economies and energy infrastructure in real ways.
To mark its Cannes debut, Mediavilla and her team hosted a packed industry event that brought together leaders from both film and finance.
Dirty Coin debut ceremony at the Marché du Film
Sponsors Celestial Management, Sangha Renewables, Nordblock, and Paystand.org supported the program, which featured panels on mining, energy use, and decentralized infrastructure.
Attendees had the rare opportunity to engage directly with pioneers in the space. A special session in French led by Seb Gouspillou spotlighted mining efforts in the Congo’s Virunga region.
Dirty Coin builds on Mediavilla’s award-winning short film Stranded, which won over 20 international prizes, including Best Short Documentary at Cannes in 2024.
That success helped lay the foundation for the feature and positioned Mediavilla as one of the boldest new voices in global documentary filmmaking.
Alana Mediavilla speaks at the Marché du Film — Cannes Film Festival
“If we’ve found an industry that can unlock stranded energy and turn it into real power for people—especially in regions with energy poverty—why wouldn’t we look into it?” says Mediavilla. “Our privilege blinds us.
“The same thing we criticize could be the very thing that lifts the developing world to our standard of living. Ignoring that potential is a failure of imagination.”
Much like the decentralized network it explores, Dirty Coin is spreading globally through grassroots momentum.
Local leaders are hosting independent screenings around the world, from Roatán and Berlin to São Paulo and Madrid. Upcoming events include Toronto and Zurich, with more cities joining each month.
Mediavilla, who previously worked in creative leadership roles in the U.S. — including as a producer at Google — returned to Puerto Rico to found Campo Libre, a studio focused on high-caliber, globally relevant storytelling from the Caribbean.
She was also accepted into the Cannes Producers Network, a selective program open only to producers with box office releases in the past four years.
Mediavilla qualified after independently releasing Dirty Coin in theaters across Puerto Rico. Her participation in the network gave her direct access to meetings, insights, and connections with the most active distributors and producers working today.
The film’s next public screening will take place at the Anthem Film Festival in Palm Springs on Saturday, June 14 at 2 PM. Additional screenings and market appearances are planned throughout the year at Bitcoin events and international film platforms.
Dirty Coin at the Cannes Film Festival
Watch the Trailer + Access Press Materials
📂 EPK
🎬 Screener
🌍 Host a Screening
Follow the Movement
Instagram: https://www.instagram.com/dirty_coin_official/
Twitter: https://x.com/DirtyCoinDoc
Website: www.dirtycointhemovie.com -
@ dfa02707:41ca50e3
2025-06-07 16:01:40
Contribute to keep No Bullshit Bitcoin news going.
- Wasabi Wallet v2.6.0 "Prometheus" is a major update for the project, focused on resilience and independence from centralized systems.
- Key features include support for BIP 158 block filters for direct node synchronization, a revamped full node integration for easier setup without third-party reliance, SLIP 39 share backups for flexible wallet recovery (sponsored by Trezor), and a Nostr-based update manager for censorship-resistant updates.
- Additional improvements include UI bug fixes, a new fallback for transaction broadcasting, updated code signing, stricter JSON serialization, and options to avoid third-party rate providers, alongside various under-the-hood enhancements.
This new version brings us closer to our ultimate goal: ensuring Wasabi is future-proof," said the developers, while also highlighting the following key areas of focus for the project:
- Ensuring users can always fully and securely use their client.
- Making contribution and forks easy through a codebase of the highest quality possible: understandable, maintainable, and improvable.
"As we achieve our survival goals, expect more cutting-edge improvements in Bitcoin privacy and self-custody. Thank you for the trust you place in us by using Wasabi," was stated in the release notes.
What's new
- Support for Standard BIP 158 Block Filters. Wasabi now syncs using BIP 158 filters without a backend/indexer, connecting directly to a user's node. This boosts sync speed, resilience, and allows full sovereignty without specific server dependency.
- Full Node Integration Rework. The old integration has been replaced with a simpler, more adaptable system. It’s not tied to a specific Bitcoin node fork, doesn’t need the node on the same machine as Wasabi, and requires no changes to the node’s setup.
- "Simply enable the RPC server on your node and point Wasabi to it," said the developers. This ensures all Bitcoin network activities—like retrieving blocks, fee estimations, block filters, and transaction broadcasting—go through your own node, avoiding reliance on third parties.
- Create & Recover SLIP 39 Shares. Users now create and recover wallets with multiple share backups using SLIP 39 standard.
"Special thanks to Trezor (SatoshiLabs) for sponsoring this amazing feature."
- Nostr Update Manager. This version implements a pioneering system with the Nostr protocol for update information and downloads, replacing reliance on GitHub. This enhances the project's resilience, ensuring updates even if GitHub is unavailable, while still verifying updates with the project's secure certificate.
- Updated Avalonia to v11.2.7, fixes for UI bugs (including restoring Minimize on macOS Sequoia).
- Added a configurable third-party fallback for broadcasting transactions if other methods fail.
- Replaced Windows Code Signing Certificate with Azure Trusted Signing.
- Many bug fixes, improved codebase, and enhanced CI pipeline.
- Added the option to avoid using any third-party Exchange Rate and Fee Rate providers (Wasabi can work without them).
- Rebuilt all JSON Serialization mechanisms avoiding default .NET converters. Serialization is now stricter.
Full Changelog: v2.5.1...v2.6.0
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@ dfa02707:41ca50e3
2025-06-07 10:02:18
- This version introduces the Soroban P2P network, enabling Dojo to relay transactions to the Bitcoin network and share others' transactions to break the heuristic linking relaying nodes to transaction creators.
- Additionally, Dojo admins can now manage API keys in DMT with labels, status, and expiration, ideal for community Dojo providers like Dojobay. New API endpoints, including "/services" exposing Explorer, Soroban, and Indexer, have been added to aid wallet developers.
- Other maintenance updates include Bitcoin Core, Tor, Fulcrum, Node.js, plus an updated ban-knots script to disconnect inbound Knots nodes.
"I want to thank all the contributors. This again shows the power of true Free Software. I also want to thank everyone who donated to help Dojo development going. I truly appreciate it," said Still Dojo Coder.
What's new
- Soroban P2P network. For MyDojo (Docker setup) users, Soroban will be automatically installed as part of their Dojo. This integration allows Dojo to utilize the Soroban P2P network for various upcoming features and applications.
- PandoTx. PandoTx serves as a transaction transport layer. When your wallet sends a transaction to Dojo, it is relayed to a random Soroban node, which then forwards it to the Bitcoin network. It also enables your Soroban node to receive and relay transactions from others to the Bitcoin network and is designed to disrupt the assumption that a node relaying a transaction is closely linked to the person who initiated it.
- Pushing transactions through Soroban can be deactivated by setting
NODE_PANDOTX_PUSH=offindocker-node.conf. - Processing incoming transactions from Soroban network can be deactivated by setting
NODE_PANDOTX_PROCESS=offindocker-node.conf.
- Pushing transactions through Soroban can be deactivated by setting
- API key management has been introduced to address the growing number of people offering their Dojos to the community. Dojo admins can now access a new API management tab in their DMT, where they can create unlimited API keys, assign labels for easy identification, and set expiration dates for each key. This allows admins to avoid sharing their main API key and instead distribute specific keys to selected parties.
- New API endpoints. Several new API endpoints have been added to help API consumers develop features on Dojo more efficiently:
- New:
/latest-block- returns data about latest block/txout/:txid/:index- returns unspent output data/support/services- returns info about services that Dojo exposes
- Updated:
/tx/:txid- endpoint has been updated to return raw transaction with parameter?rawHex=1
- The new
/support/servicesendpoint replaces the deprecatedexplorerfield in the Dojo pairing payload. Although still present, API consumers should use this endpoint for explorer and other pairing data.
- New:
Other changes
- Updated ban script to disconnect inbound Knots nodes.
- Updated Fulcrum to v1.12.0.
- Regenerate Fulcrum certificate if expired.
- Check if transaction already exists in pushTx.
- Bump BTC-RPC Explorer.
- Bump Tor to v0.4.8.16, bump Snowflake.
- Updated Bitcoin Core to v29.0.
- Removed unnecessary middleware.
- Fixed DB update mechanism, added api_keys table.
- Add an option to use blocksdir config for bitcoin blocks directory.
- Removed deprecated configuration.
- Updated Node.js dependencies.
- Reconfigured container dependencies.
- Fix Snowflake git URL.
- Fix log path for testnet4.
- Use prebuilt addrindexrs binaries.
- Add instructions to migrate blockchain/fulcrum.
- Added pull policies.
Learn how to set up and use your own Bitcoin privacy node with Dojo here.
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@ b1ddb4d7:471244e7
2025-06-07 14:00:36
“Not your keys, not your coins” isn’t a slogan—it’s a survival mantra in the age of digital sovereignty.
The seismic collapses of Mt. Gox (2014) and FTX (2022) weren’t anomalies; they were wake-up calls. When $8.7 billion in customer funds vanished with FTX, it exposed the fatal flaw of third-party custody: your bitcoin is only as secure as your custodian’s weakest link.
Yet today, As of early 2025, analysts estimate that between 2.3 million and 3.7 million Bitcoins are permanently lost, representing approximately 11–18% of bitcoin’s fixed maximum supply of 21 million coins, with some reports suggesting losses as high as 4 million BTC. This paradox reveals a critical truth: self-custody isn’t just preferable—it’s essential—but it must be done right.
The Custody Spectrum
Custodial Wallets (The Illusion of Control)
- Rehypothecation Risk: Most platforms lend your bitcoin for yield generation. When Celsius collapsed, users discovered their “held” bitcoin was loaned out in risky strategies.
- Account Freezes: Regulatory actions can lock withdrawals overnight. In 2023, Binance suspended dollar withdrawals for U.S. users citing “partner bank issues,” trapping funds for weeks.
- Data Vulnerability: KYC requirements create honeypots for hackers. The 2024 Ledger breach exposed 270,000 users’ personal data despite hardware security.
True Self-Custody
Self-custody means exclusively controlling your private keys—the cryptographic strings that prove bitcoin ownership. Unlike banks or exchanges, self-custody eliminates:- Counterparty risk (no FTX-style implosions)
- Censorship (no blocked transactions)
- Inflationary theft (no fractional reserve lending)
Conquering the Three Great Fears of Self-Custody
Fear 1: “I’ll Lose Everything If I Make a Mistake”
Reality: Human error is manageable with robust systems:
- Test Transactions: Always send a micro-amount (0.00001 BTC) before large transfers. Verify receipt AND ability to send back.
- Multi-Backup Protocol: Store seed phrases on fireproof/waterproof steel plates (not paper!). Distribute copies geographically—one in a home safe, another with trusted family 100+ miles away.
- SLIP39 Sharding: Split your seed into fragments requiring 3-of-5 shards to reconstruct. No single point of failure.
Fear 2: “Hackers Will Steal My Keys”
Reality: Offline storage defeats remote attacks:
- Hardware Wallets: Devices like Bitkey or Ledger keep keys in “cold storage”—isolated from internet-connected devices. Transactions require physical confirmation.
- Multisig Vaults: Bitvault’s multi-sig system requires attackers compromise multiple locations/devices simultaneously. Even losing two keys won’t forfeit funds.
- Air-Gapped Verification: Use dedicated offline devices for wallet setup. Never type seeds on internet-connected machines.
Fear 3: “My Family Can’t Access It If I Die”
Reality: Inheritance is solvable:
- Dead Man Switches: Bitwarden’s emergency access allows trusted contacts to retrieve encrypted keys after a pre-set waiting period (e.g., 30 days).
- Inheritance Protocols: Bitkey’s inheritance solution shares decryption keys via designated beneficiaries’ emails. Requires multiple approvals to prevent abuse.
- Public Key Registries: Share wallet XPUBs (not private keys!) with heirs. They can monitor balances but not spend, ensuring transparency without risk.
The Freedom Dividend
- Censorship Resistance: Send $10M BTC to a Wikileaks wallet without Visa/Mastercard blocking it.
- Privacy Preservation: Avoid KYC surveillance—non-custodial wallets like Flash require zero ID verification.
- Protocol Access: Participate in bitcoin-native innovations (Lightning Network, DLCs) only possible with self-custodied keys.
- Black Swan Immunity: When Cyprus-style bank bailins happen, your bitcoin remains untouched in your vault.
The Sovereign’s Checklist
- Withdraw from Exchanges: Move all BTC > $1,000 to self-custody immediately.
- Buy Hardware Wallet: Purchase DIRECTLY from manufacturer (no Amazon!) to avoid supply-chain tampering.
- Generate Seed OFFLINE: Use air-gapped device, write phrase on steel—never digitally.
- Test Recovery: Delete wallet, restore from seed before funding.
- Implement Multisig: For > $75k, use Bitvault for 2-of-3 multi-sig setup.
- Create Inheritance Plan: Share XPUBs/SLIP39 shards with heirs + legal documents.
“Self-custody isn’t about avoiding risk—it’s about transferring risk from opaque institutions to transparent, controllable systems you design.”
The Inevitable Evolution: Custody Without Compromise
Emerging solutions are erasing old tradeoffs:
- MPC Wallets: Services like Xapo Bank shatter keys into encrypted fragments distributed globally. No single device holds full keys, defeating physical theft.
- Social Recovery: Ethically designed networks (e.g., Bitkey) let trusted contacts restore access without custodial control.
- Biometric Assurance: Fingerprint reset protocols prevent lockouts from physical injuries.
Lost keys = lost bitcoin. But consider the alternative: entrusting your life savings to entities with proven 8% annual failure rates among exchanges. Self-custody shifts responsibility from hoping institutions won’t fail to knowing your system can’t fail without your consent.
Take action today: Move one coin. Test one recovery. Share one xpub. The path to unchained wealth begins with a single satoshi under your control.
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@ 9ca447d2:fbf5a36d
2025-06-07 15:02:22
Trump Media & Technology Group (TMTG), the company behind Truth Social and other Trump-branded digital platforms, is planning to raise $2.5 billion to build one of the largest bitcoin treasuries among public companies.
The deal involves the sale of approximately $1.5 billion in common stock and $1.0 billion in convertible senior secured notes.
According to the company, the offering is expected to close by the end of May, pending standard closing conditions.
Devin Nunes, CEO of Trump Media, said the investment in bitcoin is a big part of the company’s long-term plan.
“We view Bitcoin as an apex instrument of financial freedom,” Nunes said.
“This investment will help defend our Company against harassment and discrimination by financial institutions, which plague many Americans and U.S. firms.”
He added that the bitcoin treasury will be used to create new synergies across the company’s platforms including Truth Social, Truth+, and the upcoming financial tech brand Truth.Fi.
“It’s a big step forward in the company’s plans to evolve into a holding company by acquiring additional profit-generating, crown jewel assets consistent with America First principles,” Nunes said.
The $2.5 billion raise will come from about 50 institutional investors. The $1 billion in convertible notes will have 0% interest and be convertible into shares at a 35% premium.
TMTG’s current liquid assets, including cash and short-term investments, are $759 million as of the end of the first quarter of 2025. With this new funding, the company’s liquid assets will be over $3 billion.
Custody of the bitcoin treasury will be handled by Crypto.com and Anchorage Digital. They will manage and store the digital assets.
Earlier this week The Financial Times reported Trump Media was planning to raise $3 billion for digital assets acquisitions.
The article said the funds would be used to buy bitcoin and other digital assets, and an announcement could come before a major related event in Las Vegas.
Related: Bitcoin 2025 Conference Kicks off in Las Vegas Today
Trump Media denied the FT report. In a statement, the company said, “Apparently the Financial Times has dumb writers listening to even dumber sources.”
There was no further comment. However, the official $2.5 billion figure, which was announced shortly after by Trump Media through a press release, aligns with its actual filing and investor communication.
Trump Media’s official announcement
This comes at a time when the Trump family and political allies are showing renewed interest in Bitcoin.
President Donald Trump who is now back in office since the 2025 election, has said he wants to make the U.S. the “crypto capital of the world.”
Trump Media is also working on retail bitcoin investment products including ETFs aligned with America First policies.
These products will make bitcoin more accessible to retail investors and support pro-Trump financial initiatives.
But not everyone is happy.
Democratic Senator Elizabeth Warren recently expressed concerns about Trump Media’s Bitcoin plans. She asked U.S. regulators to clarify their oversight of digital-asset ETFs, warning of investor risk.
Industry insiders are comparing Trump Media’s plans to Strategy (MSTR) which has built a multi-billion dollar bitcoin treasury over the last year. They used stock and bond sales to fund their bitcoin purchases.
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@ 5d4b6c8d:8a1c1ee3
2025-06-07 14:19:37
I'll do more specific deep dives into the interesting teams, but let's start with the big picture. Which teams are buyers and sellers this offseason and who will be the biggest moving pieces?
Sellers
These are the teams that I expect to be bailing on their valuable assets: - Celtics: Even before Tatum's horrible injury, there was Last Dance talk around this old expensive roster. I think they'll use this year to get the roster more aligned with Tatum's timeline. That likely means moving on from Horford, Holliday, and Porzingis for salary savings and promising young players. - Bucks: With Dame injured and the roster being both old and not very good, they'll be putting Giannis on the auction block, as well as anyone else with trade value. They aren't tanking, though, unless they can get their picks back. - Phoenix: They desperately need to turn KD into assets that will be valuable in the future. The situation may even be bleak enough that they look to move on from Booker. - Memphis: A badly injured superstar and a roster that probably isn't good enough anyway, means it's time to sell the parts that don't quite fit and look to get back on track after next season.
Buyers
These are the teams looking to add high-end talent: - Houston: They had a great season, but lack a true number one player. Fortunately for them, they have a ton of draft picks and promising young players. - San Antonio: They also have a ton of assets and are ready to build a competitor around Wemby and Fox.
Both
These teams are pretty good, but they probably need to make pretty big roster tweaks: - Cavs: The two-big lineup looked too big against the Pacers. They probably need to move either Garland or Allen for another good player that fits the roster needs better. - Minnesota: Randle looked good for most of the playoffs, but Randle and Gobert aren't the right frontcourt for Ant. - Lakers: I'm not sure who they should part with, but they need a center.
Run it back
These teams don't need to do more than small tweaks around the edges, either because they're close already, they're developing a young promising roster, or there's just not much they can do: - Detroit - New York - Indiana - OKC - Golden State
???
I don't know what they need to do, but they need to do something: - Clippers: Kawhi and Harden went as far as they're gonna go, but I doubt anyone wants to give up assets for either of them. - Philly: Hahahahaha! - Orlando: Great defense, miserable offense. Something's gotta give - Dallas: Are they trying to win now or build around Flagg? - New Orleans: They have way too much talent to be as bad as they've been. - Denver: They looked great against OKC, but it seems like they need more around Jokic. Is MPJ worth anything as a trade asset, though?
Who cares? They suck
Everyone else
Let me know what you're looking at this offseason.
https://stacker.news/items/999795
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@ 8bad92c3:ca714aa5
2025-06-07 10:02:12
Key Takeaways
Michael Goldstein, aka Bitstein, presents a sweeping philosophical and economic case for going “all in” on Bitcoin, arguing that unlike fiat, which distorts capital formation and fuels short-term thinking, Bitcoin fosters low time preference, meaningful saving, and long-term societal flourishing. At the heart of his thesis is “hodling for good”—a triple-layered idea encompassing permanence, purpose, and the pursuit of higher values like truth, beauty, and legacy. Drawing on thinkers like Aristotle, Hoppe, and Josef Pieper, Goldstein redefines leisure as contemplation, a vital practice in aligning capital with one’s deepest ideals. He urges Bitcoiners to think beyond mere wealth accumulation and consider how their sats can fund enduring institutions, art, and architecture that reflect a moral vision of the future.
Best Quotes
“Let BlackRock buy the houses, and you keep the sats.”
“We're not hodling just for the sake of hodling. There is a purpose to it.”
“Fiat money shortens your time horizon… you can never rest.”
“Savings precedes capital accumulation. You can’t build unless you’ve saved.”
“You're increasing the marginal value of everyone else’s Bitcoin.”
“True leisure is contemplation—the pursuit of the highest good.”
“What is Bitcoin for if not to make the conditions for magnificent acts of creation possible?”
“Bitcoin itself will last forever. Your stack might not. What will outlast your coins?”
“Only a whale can be magnificent.”
“The market will sell you all the crack you want. It’s up to you to demand beauty.”
Conclusion
This episode is a call to reimagine Bitcoin as more than a financial revolution—it’s a blueprint for civilizational renewal. Michael Goldstein reframes hodling as an act of moral stewardship, urging Bitcoiners to lower their time preference, build lasting institutions, and pursue truth, beauty, and legacy—not to escape the world, but to rebuild it on sound foundations.
Timestamps
00:00 - Intro
00:50 - Michael’s BBB presentation Hodl for Good
07:27 - Austrian principles on capital
15:40 - Fiat distorts the economic process
23:34 - Bitkey
24:29 - Hodl for Good triple entendre
29:52 - Bitcoin benefits everyone
39:05 - Unchained
40:14 - Leisure theory of value
52:15 - Heightening life
1:15:48 - Breaking from the chase makes room for magnificence
1:32:32 - Nakamoto Institute’s missionTranscript
(00:00) Fiat money is by its nature a disturbance. If money is being continually produced, especially at an uncertain rate, these uh policies are really just redistribution of wealth. Most are looking for number to go up post hyper bitcoinization. The rate of growth of bitcoin would be more reflective of the growth of the economy as a whole.
(00:23) Ultimately, capital requires knowledge because it requires knowing there is something that you can add to the structures of production to lengthen it in some way that will take time but allow you to have more in the future than you would today. Let Black Rockck buy the houses and you keep the sats, not the other way around.
(00:41) You wait until later for Larry Frink to try to sell you a [Music] mansion. And we're live just like that. Just like that. 3:30 on a Friday, Memorial Day weekend. It's a good good good way to end the week and start the holiday weekend. Yes, sir. Yes, sir. Thank you for having me here. Thank you for coming. I wore this hat specifically because I think it's I think it's very apppropo uh to the conversation we're going to have which is I hope an extension of the presentation you gave at Bitblock Boom Huddle for good. You were working on
(01:24) that for many weeks leading up to uh the conference and explaining how you were structuring it. I think it's a very important topic to discuss now as the Bitcoin price is hitting new all-time highs and people are trying to understand what am I doing with Bitcoin? Like you have you have the different sort of factions within Bitcoin.
(01:47) Uh get on a Bitcoin standard, get on zero, spend as much Bitcoin as possible. You have the sailors of the world are saying buy Bitcoin, never sell, die with your Bitcoin. And I think you do a really good job in that presentation. And I just think your understanding overall of Bitcoin is incredible to put everything into context. It's not either or.
(02:07) It really depends on what you want to accomplish. Yeah, it's definitely there there is no actual one-sizefits-all um for I mean nearly anything in this world. So um yeah, I mean first of all I mean there was it was the first conference talk I had given in maybe five years. I think the one prior to that uh was um bit block boom 2019 which was my meme talk which uh has uh become infamous and notorious.
(02:43) So uh there was also a lot of like high expectations uh you know rockstar dev uh has has treated that you know uh that that talk with a lot of reference. a lot of people have enjoyed it and he was expecting this one to be, you know, the greatest one ever, which is a little bit of a little bit of a uh a burden to live up to those kinds of standards.
(03:08) Um, but you know, because I don't give a lot of talks. Um, you know, I I I like to uh try to bring ideas that might even be ideas that are common. So, something like hodling, we all talk about it constantly. uh but try to bring it from a little bit of a different angle and try to give um a little bit of uh new light to it.
(03:31) I alsove I've I've always enjoyed kind of coming at things from a third angle. Um whenever there's, you know, there's there's all these little debates that we have in in Bitcoin and sometimes it's nice to try to uh step out of it and look at it a little more uh kind of objectively and find ways of understanding it that incorporate the truths of of all of them.
(03:58) uh you know cuz I think we should always be kind of as much as possible after ultimate truth. Um so with this one um yeah I was kind of finding that that sort of golden mean. So uh um yeah and I actually I think about that a lot is uh you know Aristotle has his his concept of the golden mean. So it's like any any virtue is sort of between two vices um because you can you can always you can always take something too far.
(04:27) So you're you're always trying to find that right balance. Um so someone who is uh courageous you know uh one of the vices uh on one side is being basically reckless. I I can't remember what word he would use. Uh but effectively being reckless and just wanting to put yourself in danger for no other reason than just you know the thrill of it.
(04:50) Um and then on the other side you would just have cowardice which is like you're unwilling to put yourself um at any risk at any time. Um, and courage is right there in the middle where it's understanding when is the right time uh to put your put yourself, you know, in in the face of danger um and take it on. And so um in some sense this this was kind of me uh in in some ways like I'm obviously a partisan of hodling.
(05:20) Um, I've for, you know, a long time now talked about the, um, why huddling is good, why people do it, why we should expect it. Um, but still trying to find that that sort of golden mean of like yes, huddle, but also what are we hodling for? And it's not we're we're not hodddling just merely for the sake of hodddling.
(05:45) There there is a a purpose to it. And we should think about that. And that would also help us think more about um what are the benefits of of spending, when should we spend, why should we spend, what should we spend on um to actually give light to that sort of side of the debate. Um so that was that was what I was kind of trying to trying to get into.
(06:09) Um, as well as also just uh at the same time despite all the talk of hodling, there's always this perennial uh there's always this perennial dislike of hodlers because we're treated as uh as if um we're just free riding the network or we're just greedy or you know any of these things. And I wanted to show how uh huddling does serve a real economic purpose.
(06:36) Um, and it does benefit the individual, but it also does uh it it has actual real social um benefits as well beyond merely the individual. Um, so I wanted to give that sort of defense of hodling as well to look at it from um a a broader position than just merely I'm trying to get rich. Um uh because even the person who uh that is all they want to do um just like you know your your pure number grow up go up moonboy even that behavior has positive ramifications on on the economy.
(07:14) And while we might look at them and have uh judgments about their particular choices for them as an individual, we shouldn't discount that uh their actions are having positive positive effects for the rest of the economy. Yeah. So, let's dive into that just not even in the context of Bitcoin because I think you did a great job of this in the presentation.
(07:36) just you've done a good job of this consistently throughout the years that I've known you. Just from like a first principles Austrian economics perspective, what is the idea around capital accumulation, low time preference and deployment of that capital like what what like getting getting into like the nitty-gritty and then applying it to Bitcoin? Yeah, it's it's a big question and um in many ways I mean I I even I barely scratched the surface.
(08:05) uh I I can't claim to have read uh all the volumes of Bombber works, you know, capital and interest and and stuff like that. Um but I think there's some some sort of basic concepts that we can look at that we can uh draw a lot out. Um the first uh I guess let's write that. So repeat so like capital time preference. Yeah. Well, I guess getting more broad like why sav
